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Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—99.0% of Net Assets


Security Description	Shares		Value

Brazil—3.8%
MercadoLibre, Inc. (a)		38,090	$	57,590,556


Canada—5.2%
AbCellera Biologics, Inc. (a) (b)		545,830		2,472,610
Constellation Software, Inc.		9,913		27,077,701
Lumine Group, Inc. (a)		560,350		14,813,874
Shopify, Inc. - Class A (a)		208,852		16,117,109
Topicus.com, Inc.		207,355		18,574,771

				79,056,065


China—6.0%
Alibaba Group Holding Ltd.		970,672		8,760,133
Kweichow Moutai Co. Ltd. - Class A		54,100		12,756,542
Meituan - Class B (a)		543,070		6,708,724
Ping An Insurance Group Co. of China Ltd. - Class H		1,738,500		7,395,710
Silergy Corp.		721,000		7,368,364
Tencent Holdings Ltd.		731,400		28,542,658
Tencent Music Entertainment Group (ADR) (a)		1,706,443		19,095,097

				90,627,228


Denmark—4.8%
Ambu AS - Class B (a)		409,438		6,759,186
Demant AS (a)		324,692		16,187,357
DSV AS		125,728		20,428,955
Novonesis (Novozymes) B - B Shares		507,527		29,787,050

				73,162,548


Finland—0.8%
Kone Oyj - Class B		254,998		11,861,044


France—8.1%
Danone SA		427,637		27,631,475
Dassault Systemes SE		521,789		23,079,350
Edenred SE		414,484		22,096,882
Kering SA		34,887		13,789,587
LVMH Moet Hennessy Louis Vuitton SE		16,968		15,346,489
Nexans SA		86,795		9,061,992
Sartorius Stedim Biotech		43,200		12,310,769

				123,316,544


Germany—9.2%
BioNTech SE (ADR) (a) (b)		79,581		7,341,347
Deutsche Boerse AG		145,291		29,728,025
Rational AG		21,375		18,421,956
SAP SE		262,012		51,011,941
Scout24 SE		432,472		32,596,571

				139,099,840


Hong Kong—1.8%
AIA Group Ltd.		4,146,800		27,829,133


India—4.6%
HDFC Bank Ltd.		1,398,978		24,323,601
ICICI Lombard General Insurance Co. Ltd.		758,453		15,311,687
Reliance Industries Ltd.		825,193		29,468,746

				69,104,034


Ireland—7.9%
CRH PLC		469,488		40,503,493
Kingspan Group PLC		362,572		33,006,218
Ryanair Holdings PLC (ADR) (b)		313,971		45,711,038

				119,220,749


Italy—1.8%
FinecoBank Banca Fineco SpA		1,197,013		17,925,081
Technoprobe SpA (a)		999,171		9,076,386

				27,001,467


Japan—12.2%
Denso Corp.		796,400		15,238,411
FANUC Corp. (b)		637,100		17,818,996
Keyence Corp.		33,100		15,391,478
MonotaRO Co. Ltd.		1,026,800		12,329,140
NIDEC Corp.		206,200		8,511,569
Nihon M&A Center Holdings, Inc. (b)		1,959,900		12,476,746
Nintendo Co. Ltd.		311,500		17,049,289
Recruit Holdings Co. Ltd.		311,200		13,709,003
Shimano, Inc.		88,800		13,259,954
Shiseido Co. Ltd.		411,700		11,254,388
SMC Corp.		34,400		19,410,627
Sony Group Corp.		338,300		28,993,172

				185,442,773


Netherlands—6.7%
Adyen NV (a)		17,324		29,345,447
ASML Holding NV		29,692		28,506,781
EXOR NV		162,017		18,006,032
IMCD NV		141,540		24,944,760

				100,803,020


Norway—0.2%
Aker Carbon Capture ASA (a)		6,509,268		3,478,026


Panama—0.8%
Copa Holdings SA - Class A		115,210		12,000,274


Russia—0.0%
MMC Norilsk Nickel PJSC (a) (c) (d)		39,210		0
MMC Norilsk Nickel PJSC (ADR) (a) (c) (d)		7		0

				0


Singapore—0.6%
Sea Ltd. (ADR) (a) (b)		170,554		9,160,455


South Africa—0.9%
Discovery Ltd.		2,134,403		13,656,022


South Korea—4.0%
Coupang, Inc. (a)		727,732		12,946,352
Samsung Electronics Co. Ltd.		792,264		47,436,669

				60,383,021

BHFTII-1

Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares/ Principal Amount*		Value

Spain—1.5%
Amadeus IT Group SA		342,356	$	21,956,008


Sweden—3.7%
Atlas Copco AB - B Shares		2,012,388		29,707,013
Epiroc AB - B Shares		1,258,266		21,308,822
MIPS AB		153,386		5,029,513

				56,045,348


Switzerland—2.9%
Cie Financiere Richemont SA - Class A		124,672		19,071,602
Nestle SA		184,524		19,592,835
Wizz Air Holdings PLC (a)(b)		178,866		4,836,122

				43,500,559


Taiwan—4.6%
Taiwan Semiconductor Manufacturing Co. Ltd.		2,918,000		70,306,093


United Kingdom—5.3%
B&M European Value Retail SA		1,136,865		7,834,376
Experian PLC		560,076		24,450,697
Oxford Nanopore Technologies PLC (a)		1,868,921		2,867,414
Rio Tinto PLC		469,285		29,778,761
Unilever PLC		300,338		15,081,818

				80,013,066


United States—1.6%
Monday.com Ltd. (a)(b)		33,800		7,634,406
Spotify Technology SA (a)		61,836		16,318,520

				23,952,926

Total Common Stocks (Cost $1,265,316,496)				1,498,566,799


Warrants—0.0%

Canada—0.0%
Constellation Software, Inc. Expires 03/31/40 (a) (Cost $0)		10,541		0


Short-Term Investment—0.9%

Repurchase Agreement—0.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $14,105,095; collateralized by U.S. Treasury Bond at 4.250%, maturing 02/15/54, with a market value of $14,383,230.		14,101,178		14,101,178

Total Short-Term Investments (Cost $14,101,178)				14,101,178

Securities Lending Reinvestments (e)—1.1%
Security Description	Shares/ Principal Amount*		Value

Repurchase Agreements—0.4%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $1,300,590; collateralized by various Common Stock with an aggregate market value of $1,447,969.		1,300,000	$	1,300,000
Barclays Bank PLC Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $50,023; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $51,167.		50,000		50,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $847,558; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $864,127.		847,184		847,184
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $1,700,776; collateralized by various Common Stock with an aggregate market value of $1,896,371.		1,700,000		1,700,000
Societe Generale Repurchase Agreement dated 03/29/24 at 5.440%, due on 04/01/24 with a maturity value of $40,018; collateralized by various Common Stock with an aggregate market value of $44,583.		40,000		40,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $2,000,903; collateralized by various Common Stock with an aggregate market value of $2,200,331.		2,000,000		2,000,000

				5,937,184


Mutual Funds—0.7%
BlackRock Liquidity Funds FedFund, Institutional Shares 5.200% (f)		1,000,000		1,000,000
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (f)		2,000,000		2,000,000
Fidelity Investments Money Market Government Portfolio, Institutional Class 5.250% (f)		1,000,000		1,000,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (f)		1,000,000		1,000,000
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 5.260% (f)		1,000,000		1,000,000
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.260% (f)		2,000,000		2,000,000

BHFTII-2

Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (e)—(Continued)


Security Description	Shares		Value

Mutual Funds—(Continued)
STIT-Government & Agency Portfolio, Institutional Class 5.230% (f)		3,000,000	$	3,000,000

				11,000,000

Total Securities Lending Reinvestments (Cost $16,937,184)				16,937,184

Total Investments — 101.0% (Cost $1,296,354,858)				1,529,605,161
Other assets and liabilities (net) — (1.0)%				(15,239,262	)

Net Assets—100.0%			$	1,514,365,899


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.
(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $32,217,058 and the collateral received consisted of cash in the amount of $16,937,184 and non-cash collateral with a value of $16,676,118. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)		Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent less than 0.05% of net assets.
(d)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(e)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(f)		The rate shown represents the annualized seven-day yield as of March 31, 2024.


Ten Largest Industries as of March 31, 2024 (Unaudited)	% of Net Assets
Software		9.4
Machinery		7.8
Semiconductors & Semiconductor Equipment		7.6
Broadline Retail		5.8
Financial Services		4.6
Insurance		4.2
Passenger Airlines		4.1
Entertainment		4.1
Interactive Media & Services		4.0
Professional Services		3.4

Glossary of Abbreviations

Other Abbreviations


(ADR)—		American Depositary Receipt

BHFTII-3

Brighthouse Funds Trust II

Baillie Gifford International Stock Portfolio

Schedule of Investments as of March 31, 2024 (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 Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2			Level 3		Total
Common Stocks
Brazil	$	57,590,556	$	—		$	—	$	57,590,556
Canada		79,056,065		—			—		79,056,065
China		19,095,097		71,532,131			—		90,627,228
Denmark		—		73,162,548			—		73,162,548
Finland		—		11,861,044			—		11,861,044
France		—		123,316,544			—		123,316,544
Germany		7,341,347		131,758,493			—		139,099,840
Hong Kong		—		27,829,133			—		27,829,133
India		—		69,104,034			—		69,104,034
Ireland		45,711,038		73,509,711			—		119,220,749
Italy		—		27,001,467			—		27,001,467
Japan		—		185,442,773			—		185,442,773
Netherlands		—		100,803,020			—		100,803,020
Norway		—		3,478,026			—		3,478,026
Panama		12,000,274		—			—		12,000,274
Russia		—		—			0		0
Singapore		9,160,455		—			—		9,160,455
South Africa		—		13,656,022			—		13,656,022
South Korea		12,946,352		47,436,669			—		60,383,021
Spain		—		21,956,008			—		21,956,008
Sweden		—		56,045,348			—		56,045,348
Switzerland		—		43,500,559			—		43,500,559
Taiwan		—		70,306,093			—		70,306,093
United Kingdom		—		80,013,066			—		80,013,066
United States		23,952,926		—			—		23,952,926
Total Common Stocks		266,854,110		1,231,712,689			0		1,498,566,799
Total Warrants*		—		0			—		0
Total Short-Term Investment*		—		14,101,178			—		14,101,178
Securities Lending Reinvestments
Repurchase Agreements		—		5,937,184			—		5,937,184
Mutual Funds		11,000,000		—			—		11,000,000
Total Securities Lending Reinvestments		11,000,000		5,937,184			—		16,937,184
Total Investments	$	277,854,110	$	1,251,751,051		$	0	$	1,529,605,161

Collateral for Securities Loaned (Liability)	$	—	$	(16,937,184	)	$	—	$	(16,937,184	)


*		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 March 31, 2024 is not presented.

BHFTII-4

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

U.S. Treasury & Government Agencies—57.3% of Net Assets


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—33.5%
Federal Home Loan Mortgage Corp.
1.500%, 04/01/36		3,146,853	$	2,756,162
1.500%, 05/01/36		555,748		484,230
1.500%, 08/01/50		876,287		662,932
1.500%, 10/01/50		2,172,758		1,642,423
2.000%, 09/01/35		729,105		651,020
2.000%, 01/01/36		1,547,003		1,382,401
2.000%, 02/01/36		1,854,649		1,657,971
2.000%, 03/01/36		291,836		260,140
2.000%, 05/01/36		1,721,711		1,541,891
2.000%, 06/01/36		1,167,478		1,041,754
2.000%, 07/01/36		495,644		443,522
2.000%, 04/01/37		546,166		487,513
2.000%, 02/01/42		413,815		347,208
2.000%, 03/01/42		1,487,782		1,247,226
2.000%, 04/01/42		431,342		361,599
2.000%, 08/01/50		320,077		257,540
2.000%, 09/01/50		431,652		344,277
2.000%, 11/01/50		591,850		478,233
2.000%, 02/01/51		15,179,066		12,090,313
2.000%, 03/01/51		3,472,632		2,753,253
2.000%, 04/01/51		1,777,830		1,435,786
2.000%, 05/01/51		1,066,639		860,208
2.000%, 07/01/51		4,077,854		3,318,984
2.000%, 09/01/51		1,427,347		1,145,856
2.000%, 10/01/51		4,025,481		3,195,646
2.000%, 12/01/51		2,963,353		2,385,697
2.000%, 01/01/52		14,631,931		11,789,157
2.000%, 02/01/52		1,622,196		1,301,223
2.500%, 04/01/27		11,585		11,119
2.500%, 10/01/28		89,573		85,497
2.500%, 08/01/29		195,852		184,938
2.500%, 12/01/29		94,416		88,639
2.500%, 05/01/30		284,640		268,203
2.500%, 07/01/30		179,218		168,707
2.500%, 08/01/30		671,323		631,946
2.500%, 09/01/30		745,065		700,978
2.500%, 04/01/31		575,870		540,668
2.500%, 07/01/50		406,741		341,964
2.500%, 02/01/51		3,450,232		2,916,235
2.500%, 05/01/51		11,921,436		10,063,422
2.500%, 11/01/51		10,647,894		8,971,935
2.500%, 12/01/51		5,333,404		4,478,582
2.500%, 01/01/52		17,301,426		14,508,196
3.000%, 09/01/27		90,928		88,092
3.000%, 07/01/28		54,829		53,006
3.000%, 01/01/30		197,513		188,891
3.000%, 04/01/30		1,085,715		1,036,494
3.000%, 05/01/30		200,728		191,779
3.000%, 06/01/30		7,315		6,991
3.000%, 07/01/30		405,157		386,660
3.000%, 08/01/30		126,656		120,491
3.000%, 09/01/37		50,667		46,273
3.000%, 06/01/38		1,047,022		962,630
3.000%, 01/01/43		706,718		631,770
3.000%, 03/01/43		1,237,634		1,106,375

Agency Sponsored Mortgage - Backed—(Continued)
Federal Home Loan Mortgage Corp.
3.000%, 06/01/44		6,367,200		5,684,572
3.000%, 12/01/46		753,347		667,587
3.000%, 02/01/47		533,324		473,715
3.000%, 08/01/50		4,516,922		3,953,004
3.000%, 09/01/50		2,021,327		1,779,498
3.000%, 07/01/51		410,961		359,955
3.000%, 10/01/51		589,022		512,754
3.000%, 02/01/52		302,527		265,487
3.000%, 03/01/52		8,722,889		7,608,049
3.000%, 08/01/52		15,639,721		13,628,477
3.500%, 01/01/34		456,478		433,756
3.500%, 05/01/35		1,680,608		1,606,289
3.500%, 04/01/42		854,036		788,991
3.500%, 05/01/42		26,030		23,986
3.500%, 08/01/42		698,760		645,594
3.500%, 10/01/42		33,030		30,554
3.500%, 06/01/43		119,786		110,028
3.500%, 01/01/44		255,243		235,228
3.500%, 05/01/44		44,161		40,627
3.500%, 06/01/44		108,835		98,426
3.500%, 07/01/44		44,909		41,261
3.500%, 09/01/44		99,917		91,748
3.500%, 09/01/45		75,567		68,831
3.500%, 03/01/46		2,405,948		2,212,715
3.500%, 09/01/46		553,267		502,507
3.500%, 03/01/47		646,695		595,594
3.500%, 10/01/47		607,800		560,090
3.500%, 12/01/47		711,089		655,271
3.500%, 01/01/48		3,519,971		3,241,419
3.500%, 06/01/48		941,125		860,924
3.500%, 08/01/50		300,770		273,227
4.000%, 08/01/40		82,155		77,939
4.000%, 09/01/40		102,291		97,108
4.000%, 10/01/40		59,114		56,110
4.000%, 11/01/40		200,887		190,962
4.000%, 04/01/41		4,900		4,649
4.000%, 10/01/41		176,513		168,226
4.000%, 09/01/43		165,205		158,132
4.000%, 04/01/44		390,531		372,503
4.000%, 07/01/44		67,847		64,365
4.000%, 01/01/45		4,782,367		4,531,357
4.000%, 02/01/45		92,652		88,806
4.000%, 09/01/45		518,577		497,041
4.000%, 12/01/45		2,952,626		2,801,310
4.000%, 07/01/47		1,143,654		1,083,555
4.000%, 04/01/48		2,438,746		2,293,787
4.000%, 06/01/48		1,066,227		1,010,078
4.000%, 05/01/49		107,586		101,543
4.000%, 03/01/50		2,215,995		2,091,130
4.000%, 06/01/50		1,238,199		1,162,755
4.000%, 07/01/50		892,735		840,474
4.000%, 02/01/51		827,647		781,160
4.000%, 06/01/52		2,252,147		2,125,354
4.500%, 02/01/39		365,625		358,133
4.500%, 08/01/39		254,069		248,039

BHFTII-5

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal Home Loan Mortgage Corp.
4.500%, 12/01/39		79,502	$	78,067
4.500%, 07/01/40		27,782		27,281
4.500%, 05/01/41		386,056		379,084
4.500%, 05/01/42		431,630		423,844
4.500%, 10/01/43		75,662		73,743
4.500%, 12/01/43		457,376		449,212
4.500%, 04/01/47		867,468		851,575
4.500%, 05/01/47		325,327		317,232
4.500%, 07/01/47		690,869		673,529
4.500%, 02/01/49		957,363		928,651
4.500%, 04/01/49		510,414		494,402
4.500%, 07/01/52		1,698,211		1,617,014
4.500%, 08/01/52		467,829		445,457
5.000%, 10/01/41		215,089		214,881
5.000%, 11/01/41		1,504,909		1,502,836
5.000%, 06/01/52		26,930		26,493
5.000%, 07/01/52		488,670		484,605
5.000%, 08/01/52		1,087,870		1,070,191
5.000%, 09/01/52		38,657		38,029
5.000%, 10/01/52		129,212		126,898
5.000%, 11/01/52		851,448		832,798
5.000%, 12/01/52		3,847,696		3,763,403
5.000%, 01/01/53		1,127,614		1,102,873
5.000%, 02/01/53		334,168		326,754
5.500%, 02/01/35		52,239		53,388
5.500%, 09/01/39		63,883		65,295
5.500%, 01/01/40		73,345		74,964
5.500%, 06/01/41		759,158		775,900
5.500%, 01/01/53		1,001,837		999,061
5.500%, 03/01/53		1,453,783		1,450,515
5.500%, 05/01/53		3,981,322		3,972,607
5.500%, 08/01/53		292,086		290,941
6.000%, 11/01/52		69,618		70,547
6.000%, 01/01/53		1,255,169		1,268,508
6.000%, 02/01/53		678,905		685,851
6.000%, 03/01/53		426,591		431,021
6.000%, 04/01/53		663,498		671,755
6.000%, 05/01/53		2,423,230		2,453,141
6.000%, 06/01/53		1,461,355		1,480,754
6.000%, 11/01/53		1,227,611		1,244,694
6.500%, 10/01/53		135,107		140,121
6.500%, 11/01/53		593,378		608,846
6.500%, 12/01/53		1,613,764		1,656,920
6.500%, 01/01/54		245,994		251,826
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates 0.802%, 05/25/29 (a) (b)		6,191,990		187,498
5.028%, 10/25/31		341,000		341,453
Federal Home Loan Mortgage Corp. REMICS 3.000%, 02/25/52 (b)		616,322		94,656
3.500%, 03/25/51 (b)		356,130		66,483
Federal Home Loan Mortgage Corp. STRIPS 3.000%, 10/15/52 (b)		4,969,835		817,309
Federal National Mortgage Association
1.500%, 12/01/35		160,182		139,678

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
1.500%, 03/01/36		347,954		303,825
1.500%, 05/01/36		565,633		493,888
1.500%, 06/01/36		2,006,694		1,748,474
1.500%, 12/01/36		919,177		800,277
1.500%, 02/01/37		584,761		510,545
1.500%, 11/01/41		18,337,231		14,926,918
1.500%, 12/01/41		9,350,538		7,449,666
1.500%, 10/01/50		2,268,838		1,713,364
1.500%, 11/01/50		1,973,776		1,490,532
1.500%, 03/01/51		2,652,993		2,005,740
2.000%, 10/01/31		71,549		65,939
2.000%, 11/01/31		926,413		852,259
2.000%, 12/01/31		101,086		93,034
2.000%, 03/01/32		664,797		609,551
2.000%, 06/01/35		735,199		658,083
2.000%, 09/01/35		245,916		219,512
2.000%, 02/01/36		256,353		228,834
2.000%, 03/01/36		436,233		389,402
2.000%, 04/01/36		595,194		533,043
2.000%, 05/01/36		414,765		371,447
2.000%, 07/01/36		675,974		603,405
2.000%, 09/01/36		878,648		780,409
2.000%, 11/01/36		304,359		272,227
2.000%, 01/01/37		297,443		266,043
2.000%, 02/01/37		1,094,789		974,831
2.000%, 03/01/37		2,821,336		2,514,751
2.000%, 04/01/37		910,538		811,587
2.000%, 10/01/40		305,617		258,673
2.000%, 12/01/40		1,337,116		1,130,474
2.000%, 12/01/41		1,320,720		1,108,880
2.000%, 02/01/42		674,465		566,031
2.000%, 03/01/42		6,510,633		5,461,544
2.000%, 04/01/42		1,012,124		848,672
2.000%, 08/01/42		4,074,019		3,422,016
2.000%, 08/01/50		735,112		586,611
2.000%, 09/01/50		1,556,472		1,241,105
2.000%, 10/01/50		1,983,159		1,579,779
2.000%, 11/01/50		365,210		291,091
2.000%, 12/01/50		2,077,393		1,676,101
2.000%, 01/01/51		13,497,855		10,744,031
2.000%, 02/01/51		1,600,531		1,274,962
2.000%, 03/01/51		1,622,612		1,309,027
2.000%, 04/01/51		3,049,644		2,460,779
2.000%, 08/01/51		11,884,872		9,464,849
2.000%, 11/01/51		9,486,989		7,588,079
2.000%, 12/01/51		6,141,857		4,939,083
2.000%, 01/01/52		6,663,730		5,385,906
2.000%, 02/01/52		10,956,998		8,777,408
2.000%, 03/01/52		4,576,771		3,671,352
2.500%, 09/01/27		49,902		47,982
2.500%, 02/01/28		7,018		6,716
2.500%, 04/01/28		17,692		16,928
2.500%, 08/01/28		54,378		51,902
2.500%, 01/01/30		337,084		316,203
2.500%, 02/01/30		33,036		31,362

BHFTII-6

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
2.500%, 03/01/30		64,017	$	60,313
2.500%, 07/01/30		207,580		195,027
2.500%, 08/01/30		715,213		673,058
2.500%, 09/01/30		455,198		427,411
2.500%, 11/01/30		847,643		795,676
2.500%, 03/01/31		33,758		32,297
2.500%, 06/01/31		266,579		249,259
2.500%, 07/01/31		142,674		133,517
2.500%, 08/01/31		20,219		18,915
2.500%, 10/01/31		1,256,756		1,175,036
2.500%, 11/01/31		782,699		731,532
2.500%, 02/01/32		37,870		35,373
2.500%, 03/01/32		144,539		134,420
2.500%, 08/01/32		857,591		799,481
2.500%, 02/01/33		1,534,722		1,440,618
2.500%, 07/01/50		8,520,385		7,175,046
2.500%, 08/01/50		5,429,464		4,569,634
2.500%, 11/01/50		2,157,603		1,830,668
2.500%, 09/01/51		5,327,862		4,465,025
2.500%, 11/01/51		8,260,489		6,881,547
2.500%, 01/01/52		17,369,353		14,600,892
2.500%, 02/01/52		3,274,159		2,760,380
3.000%, 04/01/28		41,612		39,737
3.000%, 05/01/28		49,396		47,542
3.000%, 10/01/28		97,524		93,706
3.000%, 11/01/28		674,615		648,423
3.000%, 12/01/28		169,621		162,216
3.000%, 01/01/29		92,226		88,221
3.000%, 04/01/29		317,802		300,915
3.000%, 05/01/29		480,746		456,228
3.000%, 08/01/29		489,871		464,797
3.000%, 10/01/29		135,171		129,262
3.000%, 03/01/30		295,703		282,630
3.000%, 04/01/30		245,036		234,046
3.000%, 05/01/30		383,995		366,725
3.000%, 07/01/30		296,268		281,839
3.000%, 08/01/30		1,255,661		1,196,029
3.000%, 09/01/30		343,159		327,033
3.000%, 08/01/31		1,121,651		1,064,173
3.000%, 09/01/31		157,867		150,308
3.000%, 03/01/32		287,948		272,073
3.000%, 10/01/36		41,187		37,892
3.000%, 11/01/36		449,101		412,532
3.000%, 12/01/36		732,027		672,258
3.000%, 03/01/43		4,108,377		3,659,533
3.000%, 04/01/43		2,314,362		2,066,224
3.000%, 05/01/43		1,183,238		1,056,367
3.000%, 06/01/43		40,010		35,695
3.000%, 06/01/46		24,524		21,673
3.000%, 08/01/46		32,264		28,823
3.000%, 11/01/46		1,360,809		1,201,211
3.000%, 02/01/47		333,438		294,355
3.000%, 03/01/47		1,380,297		1,217,530
3.000%, 03/01/50		487,453		428,669
3.000%, 08/01/50		1,919,540		1,676,186

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
3.000%, 11/01/51		2,360,740		2,046,479
3.000%, 12/01/51		1,045,686		912,133
3.000%, 04/01/52		340,720		298,006
3.000%, 05/01/52		538,482		468,443
3.500%, 08/01/28		81,777		78,989
3.500%, 10/01/28		748,477		720,878
3.500%, 11/01/28		713,188		687,532
3.500%, 02/01/29		978,332		944,764
3.500%, 04/01/29		168,899		162,805
3.500%, 05/01/29		669,239		645,893
3.500%, 07/01/29		276,524		266,361
3.500%, 09/01/29		58,608		56,384
3.500%, 08/01/30		197,430		190,723
3.500%, 11/01/32		86,893		83,502
3.500%, 01/01/33		50,172		48,119
3.500%, 01/01/42		203,736		187,777
3.500%, 04/01/42		135,166		124,441
3.500%, 05/01/42		13,285		12,224
3.500%, 06/01/42		35,159		32,365
3.500%, 07/01/42		46,293		42,575
3.500%, 02/01/45		1,391,708		1,280,458
3.500%, 05/01/47		649,173		593,839
3.500%, 11/01/47		444,085		404,926
3.500%, 12/01/47		444,051		404,895
3.500%, 01/01/48		1,305,479		1,193,143
3.500%, 02/01/48		204,091		186,095
3.500%, 03/01/48		1,146,936		1,045,796
3.500%, 04/01/48		765,535		704,418
3.500%, 06/01/49		7,562,436		6,883,955
3.500%, 01/01/51		17,967,214		16,269,340
4.000%, 08/01/33		306,392		294,432
4.000%, 10/01/33		2,034,538		1,996,090
4.000%, 01/01/41		88,770		84,302
4.000%, 01/01/42		397,430		376,556
4.000%, 02/01/42		717,239		676,507
4.000%, 05/01/42		122,083		115,669
4.000%, 11/01/46		136,905		129,555
4.000%, 04/01/47		36,116		34,185
4.000%, 06/01/47		451,628		428,857
4.000%, 08/01/47		295,392		279,412
4.000%, 09/01/47		25,704		24,241
4.000%, 10/01/47		202,111		190,295
4.000%, 01/01/48		1,513,813		1,429,415
4.000%, 04/01/48		45,256		42,704
4.000%, 05/01/48		52,168		49,071
4.000%, 06/01/48		37,895		35,586
4.000%, 07/01/48		37,591		35,464
4.000%, 08/01/48		586,802		555,385
4.000%, 09/01/48		249,029		233,859
4.000%, 10/01/48		109,030		102,354
4.000%, 09/01/49		994,798		928,642
4.000%, 03/01/50		425,413		396,802
4.000%, 04/01/50		228,434		213,688
4.000%, 05/01/50		405,302		379,650
4.000%, 06/01/50		565,043		527,626

BHFTII-7

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
4.000%, 11/01/50		46,198	$	43,168
4.000%, 01/01/51		3,028,240		2,847,921
4.000%, 03/01/51		2,397,225		2,245,503
4.000%, 05/01/51		8,259,306		7,776,620
4.000%, 10/01/51		5,916,998		5,532,471
4.000%, 04/01/52		527,098		494,650
4.000%, 05/01/52		4,690,499		4,415,367
4.500%, 02/01/25		5,511		5,457
4.500%, 04/01/25		3,020		2,995
4.500%, 07/01/25		5,081		5,038
4.500%, 06/01/26		62,245		61,728
4.500%, 08/01/39		346,854		340,165
4.500%, 11/01/39		305,424		299,537
4.500%, 01/01/40		12,950		12,700
4.500%, 04/01/40		25,165		24,680
4.500%, 05/01/40		60,386		59,222
4.500%, 06/01/40		60,886		59,711
4.500%, 07/01/40		130,904		128,380
4.500%, 11/01/40		255,661		250,731
4.500%, 07/01/41		55,359		54,291
4.500%, 09/01/41		229,957		225,520
4.500%, 10/01/41		66,753		65,465
4.500%, 01/01/42		52,388		51,378
4.500%, 08/01/42		306,490		300,581
4.500%, 09/01/43		243,422		236,376
4.500%, 10/01/43		544,266		528,779
4.500%, 11/01/43		1,230,058		1,200,237
4.500%, 12/01/43		513,381		500,938
4.500%, 01/01/44		472,641		461,274
4.500%, 06/01/44		1,743,232		1,700,973
4.500%, 07/01/45		499,053		487,545
4.500%, 09/01/45		252,738		247,800
4.500%, 11/01/45		923,631		902,008
4.500%, 12/01/45		342,945		334,634
4.500%, 07/01/46		1,647,996		1,617,710
4.500%, 09/01/46		291,821		286,461
4.500%, 09/01/47		27,532		26,801
4.500%, 10/01/47		205,024		198,607
4.500%, 11/01/47		1,035,267		1,006,685
4.500%, 12/01/47		36,294		35,189
4.500%, 01/01/48		1,017,280		988,209
4.500%, 02/01/48		53,151		51,643
4.500%, 03/01/48		97,284		94,436
4.500%, 04/01/48		540,656		530,716
4.500%, 05/01/48		4,924,920		4,795,105
4.500%, 07/01/48		73,300		71,213
4.500%, 08/01/48		984,287		958,370
4.500%, 11/01/48		627,501		608,597
4.500%, 02/01/49		5,471,821		5,371,226
4.500%, 05/01/49		4,987,674		4,895,977
4.500%, 07/01/52		252,854		240,776
5.000%, 11/01/32		1,739		1,726
5.000%, 09/01/35		66,235		66,582
5.000%, 06/01/39		2,839,542		2,854,400
5.000%, 04/01/41		4,945		4,877

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
5.000%, 07/01/41		95,690		95,368
5.000%, 08/01/41		76,348		76,185
5.000%, 01/01/42		43,001		42,857
5.000%, 07/01/52		1,012,417		1,001,393
5.000%, 12/01/52		437,223		426,870
5.000%, 01/01/53		3,583,547		3,499,871
5.500%, 11/01/32		286,908		292,636
5.500%, 12/01/32		52,246		53,049
5.500%, 01/01/33		200,065		203,137
5.500%, 12/01/33		72,738		72,864
5.500%, 05/01/34		610,875		623,551
5.500%, 08/01/37		645,192		658,587
5.500%, 02/01/38		131,198		133,930
5.500%, 03/01/38		63,452		64,773
5.500%, 06/01/38		41,533		41,976
5.500%, 12/01/38		74,008		75,166
5.500%, 01/01/39		121,603		124,131
5.500%, 08/01/39		86,118		87,911
5.500%, 12/01/39		170,774		174,333
5.500%, 04/01/40		15,258		15,576
5.500%, 04/01/41		95,282		97,270
5.500%, 01/01/53		969,980		968,042
5.500%, 05/01/53		4,874,018		4,864,300
5.500%, 06/01/53		1,417,500		1,414,734
6.000%, 02/01/34		71,923		73,842
6.000%, 08/01/34		53,105		54,860
6.000%, 04/01/35		830,595		855,306
6.000%, 06/01/36		93,383		96,341
6.000%, 02/01/38		137,714		142,674
6.000%, 03/01/38		65,501		67,860
6.000%, 05/01/38		176,667		183,030
6.000%, 10/01/38		209,597		217,003
6.000%, 12/01/38		72,907		75,532
6.000%, 04/01/40		685,545		710,235
6.000%, 09/01/40		75,301		78,014
6.000%, 06/01/41		168,423		174,488
6.000%, 11/01/52		73,033		73,803
6.000%, 01/01/53		1,739,077		1,757,821
6.000%, 04/01/53		452,012		458,036
6.000%, 05/01/53		2,135,392		2,163,875
6.000%, 07/01/53		2,318,710		2,349,666
6.000%, 08/01/53		4,394,399		4,444,591
6.000%, 01/01/54		1,017,944		1,030,979
6.000%, 03/01/54		148,565		150,789
6.500%, 05/01/40		991,206		1,028,643
6.500%, 08/01/53		1,922,814		1,972,939
6.500%, 09/01/53		566,309		582,026
6.500%, 10/01/53		2,194,873		2,261,756
6.500%, 01/01/54		303,992		312,344
6.500%, 02/01/54		3,385,527		3,475,598
7.000%, 12/01/53		604,921		624,637
Federal National Mortgage Association Interest STRIPS 3.000%, 03/25/50 (b)		2,000,330		340,476
3.000%, 07/25/52 (b)		2,874,823		487,938

BHFTII-8

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
FREMF Mortgage Trust 0.100%, 01/25/29 (144A) (b)		25,124,359	$	88,445
4.232%, 08/25/50 (144A) (a)		304,000		290,402
Government National Mortgage Association
2.000%, 08/20/50		6,707,734		5,505,042
2.000%, 11/20/50		860,267		704,825
2.000%, 01/20/51		10,041,008		8,232,435
2.000%, 02/20/51		751,389		615,757
2.500%, 04/20/51		5,840,868		4,979,480
2.500%, 10/20/51		3,461,404		2,948,520
2.500%, 12/20/51		2,367,001		2,016,267
2.500%, 05/20/52		4,870,557		4,147,785
2.500%, 06/20/52		3,799,421		3,235,441
2.500%, 07/20/52		2,582,945		2,199,514
2.500%, 12/20/52		424,762		361,927
2.500%, 01/20/53		1,821,548		1,551,157
3.000%, 12/20/44		36,144		32,501
3.000%, 02/15/45		411,879		373,482
3.000%, 09/20/47		729,584		651,382
3.000%, 03/20/49		17,597		15,687
3.000%, 05/20/50		287,609		254,011
3.000%, 01/20/51		20,411,309		17,997,792
3.500%, 01/15/42		118,568		110,663
3.500%, 02/15/42		60,961		56,859
3.500%, 04/15/42		157,149		146,831
3.500%, 05/15/42		174,767		163,385
3.500%, 08/15/42		176,660		164,823
3.500%, 11/15/42		54,133		50,404
3.500%, 12/15/42		509,481		475,639
3.500%, 01/15/43		134,800		125,933
3.500%, 02/15/43		288,585		268,974
3.500%, 03/15/43		218,738		203,706
3.500%, 04/15/43		679,831		633,411
3.500%, 04/20/43		666,670		619,520
3.500%, 05/15/43		966,659		900,173
3.500%, 05/20/43		366,064		340,193
3.500%, 06/15/43		291,905		272,007
3.500%, 07/15/43		790,980		739,287
3.500%, 07/20/43		28,312		26,312
3.500%, 02/20/44		712,037		660,934
3.500%, 03/20/45		25,486		23,571
3.500%, 04/20/45		38,041		35,245
3.500%, 05/20/45		155,435		143,726
3.500%, 07/20/45		27,990		25,832
3.500%, 08/20/45		37,631		34,790
3.500%, 10/20/45		71,417		65,905
3.500%, 11/20/45		26,360		24,366
3.500%, 12/20/45		397,698		367,619
3.500%, 01/20/46		79,672		73,636
3.500%, 05/20/46		329,335		304,318
3.500%, 09/20/46		125,096		115,045
3.500%, 10/20/46		779,005		717,160
3.500%, 03/20/48		30,552		28,104
3.500%, 04/20/48		12,452		11,462
4.000%, 04/20/39		13,866		13,333
4.000%, 07/20/39		101,422		97,524

Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association
4.000%, 09/20/40		26,137		25,132
4.000%, 10/20/40		303,521		291,851
4.000%, 11/20/40		168,891		162,397
4.000%, 12/20/40		644,786		619,994
4.000%, 01/20/41		575,281		553,169
4.000%, 02/20/41		10,192		9,801
4.000%, 03/15/41		231,173		221,142
4.000%, 12/15/41		21,590		20,653
4.000%, 07/20/43		61,502		58,966
4.000%, 08/20/44		230,318		219,788
4.000%, 10/20/46		36,557		34,365
4.000%, 05/20/47		152,310		144,381
4.000%, 06/20/47		390,995		371,444
4.000%, 11/20/47		449,085		426,893
4.000%, 12/20/47		221,390		210,011
4.000%, 05/20/50		447,187		422,799
4.500%, 12/20/39		23,416		23,093
4.500%, 01/20/40		28,318		27,925
4.500%, 02/20/40		23,359		23,034
4.500%, 05/20/40		1,457		1,436
4.500%, 02/15/42		2,835,034		2,781,415
4.500%, 03/15/47		68,399		66,633
4.500%, 04/15/47		140,366		136,826
4.500%, 05/15/47		49,805		48,747
4.500%, 09/20/48		229,106		222,730
4.500%, 03/20/49		911,579		887,041
4.500%, 04/20/49		197,958		192,619
4.500%, 05/20/49		768,827		746,801
4.500%, 04/20/50		22,036		21,433
5.000%, 10/20/33		265,207		267,776
5.000%, 12/15/38		92,282		93,295
5.000%, 07/15/39		153,581		155,078
5.000%, 10/15/39		112,655		113,541
5.000%, 10/20/39		84,706		85,244
5.000%, 09/15/40		7,086		7,125
5.000%, 12/15/40		304,489		307,615
5.000%, 07/20/42		119,790		120,366
5.500%, 04/15/33		8,540		8,751
6.500%, 04/15/33		28,620		29,124
Government National Mortgage Association REMICS 3.000%, 08/20/50 (b)		1,533,749		242,618
3.000%, 02/20/51 (b)		1,314,917		207,810
3.000%, 05/20/51 (b)		4,524,320		714,450
3.000%, 08/20/51 (b)		1,313,234		206,046
Government National Mortgage Association, TBA 2.000%, TBA (c)		18,279,300		14,972,809
2.500%, TBA (c)		11,963,369		10,188,203
3.000%, TBA (c)		5,483,470		4,835,179
3.500%, TBA (c)		11,917,496		10,843,460
4.000%, TBA (c)		9,711,500		9,086,945
4.500%, TBA (c)		3,078,000		2,957,431
5.000%, TBA (c)		10,535,000		10,353,342
5.500%, TBA (c)		2,157,000		2,154,974
6.000%, TBA (c)		7,792,000		7,860,103
6.500%, TBA (c)		6,394,000		6,500,606

BHFTII-9

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Seasoned Credit Risk Transfer Trust
Zero Coupon, 07/25/56 (144A) (d)		780,229	$	92,503
0.560%, 07/25/56 (144A) (a) (b)		933,040		102,921
3.138%, 05/25/57 (a)		158,398		64,790
Seasoned Loans Structured Transaction Trust 4.750%, 09/25/60 (144A) (a)		1,955,920		1,871,596
Uniform Mortgage-Backed Security, TBA 2.000%, TBA (c)		24,840,469		19,998,665
2.500%, TBA (c)		20,412,200		17,287,829
3.000%, TBA (c)		5,200,974		4,433,013
3.500%, TBA (c)		25,565,006		22,753,271
4.500%, TBA (c)		29,644,600		28,301,266
5.000%, TBA (c)		55,452,629		54,103,088
5.500%, TBA (c)		84,393,216		83,974,311
6.500%, TBA (c)		5,168,500		5,278,455

				933,736,044


U.S. Treasury—23.8%
U.S. Treasury Bonds 1.125%, 05/15/40		10,082,000		6,299,281
1.125%, 08/15/40		10,082,000		6,240,994
1.375%, 11/15/40		10,082,000		6,483,199
1.375%, 08/15/50		8,991,000		4,748,021
1.625%, 11/15/50		6,618,000		3,737,877
1.875%, 11/15/51		6,339,000		3,796,714
2.250%, 08/15/49		8,301,000		5,535,405
2.375%, 05/15/51		10,334,500		7,015,753
2.500%, 02/15/45 (e)		18,730,000		13,695,581
2.750%, 11/15/47		18,730,000		13,994,822
2.875%, 05/15/43		3,605,000		2,864,426
2.875%, 11/15/46		3,456,000		2,663,145
3.000%, 05/15/47		6,889,700		5,411,913
3.000%, 02/15/48		12,593,300		9,849,830
3.000%, 02/15/49 (e) (f)		12,591,800		9,817,177
3.000%, 08/15/52		15,569,800		12,093,964
3.125%, 02/15/43		3,605,000		2,986,517
3.125%, 08/15/44		6,720,100		5,503,657
3.625%, 08/15/43		9,934,000		8,836,215
3.625%, 02/15/53		6,834,000		6,001,106
3.625%, 05/15/53		8,279,500		7,274,317
3.750%, 11/15/43		9,934,000		8,986,001
3.875%, 02/15/43		4,562,500		4,217,639
4.000%, 11/15/42		5,761,700		5,427,251
4.000%, 11/15/52		6,339,000		5,959,898
4.125%, 08/15/53		2,418,000		2,323,925
4.250%, 05/15/39		940,000		937,981
4.375%, 11/15/39		940,000		948,298
4.375%, 05/15/40		6,720,800		6,756,504
4.375%, 05/15/41		1,950,500		1,946,767
4.500%, 08/15/39 (e) (f)		14,380,200		14,733,526
4.750%, 02/15/41		1,950,500		2,041,396
4.750%, 11/15/53 (e)		13,537,400		14,451,175
U.S. Treasury Inflation-Indexed Notes 2.375%, 10/15/28 (g)		62,705,326		64,158,005
U.S. Treasury Notes
0.250%, 06/30/25		5,842,000		5,515,213

U.S. Treasury—(Continued)
U.S. Treasury Notes
0.375%, 09/30/27		6,618,000		5,771,878
0.500%, 02/28/26		13,060,400		12,071,177
0.500%, 05/31/27		14,314,000		12,677,395
0.500%, 08/31/27		18,258,300		16,038,775
0.625%, 07/31/26		3,891,000		3,556,009
0.750%, 05/31/26		11,504,000		10,598,509
0.875%, 06/30/26		12,668,000		11,680,292
1.250%, 08/15/31		26,492,000		21,579,597
1.500%, 10/31/24		374,600		366,581
1.500%, 02/15/25		6,430,000		6,231,511
1.500%, 08/15/26		10,036,000		9,353,082
1.500%, 02/15/30		5,101,000		4,385,465
1.625%, 11/30/26		21,772,000		20,227,549
1.625%, 05/15/31		15,095,000		12,721,076
1.750%, 07/31/24		3,357,000		3,317,529
1.750%, 12/31/24		38,426,000		37,468,352
2.000%, 02/15/25		8,646,000		8,416,172
2.125%, 07/31/24		7,432,000		7,353,470
2.125%, 05/15/25		7,618,000		7,382,616
2.375%, 05/15/29		5,101,000		4,666,419
2.625%, 04/15/25		13,441,500		13,118,079
2.625%, 02/15/29		5,101,000		4,738,550
2.750%, 08/15/32 (e)		38,028,000		34,107,848
2.875%, 06/15/25		6,430,000		6,274,273
2.875%, 05/15/32		1,625,500		1,475,840
3.125%, 11/15/28		3,935,000		3,747,934
3.750%, 05/31/30		6,430,000		6,261,464
3.875%, 11/30/27		6,387,000		6,283,710
3.875%, 12/31/29		23,204,000		22,782,521
4.000%, 12/15/25		14,859,000		14,676,165
4.000%, 02/28/30		8,528,900		8,426,287
4.000%, 02/15/34 (e)		25,250,000		24,831,797
4.875%, 10/31/30		14,691,900		15,226,203

				661,067,618

Total U.S. Treasury & Government Agencies (Cost $1,713,053,358)				1,594,803,662


Corporate Bonds & Notes—26.8%

Aerospace/Defense—1.1%
BAE Systems PLC 3.400%, 04/15/30 (144A)		2,640,000		2,407,739
5.250%, 03/26/31 (144A)		700,000		702,869
Boeing Co. 3.950%, 08/01/59		1,240,000		848,527
5.930%, 05/01/60		1,143,000		1,071,602
L3Harris Technologies, Inc. 1.800%, 01/15/31		1,612,000		1,308,913
2.900%, 12/15/29		1,061,000		944,361
3.850%, 12/15/26		667,000		644,583
4.400%, 06/15/28		1,663,000		1,617,510
5.250%, 06/01/31		1,895,000		1,891,486
5.400%, 07/31/33		3,797,000		3,820,861

BHFTII-10

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Aerospace/Defense—(Continued)
Lockheed Martin Corp. 3.600%, 03/01/35 (h)		644,000	$	570,415
Northrop Grumman Corp. 4.700%, 03/15/33 (h)		1,048,000		1,023,086
5.200%, 06/01/54		286,000		278,537
RTX Corp. 2.820%, 09/01/51		1,540,000		979,541
4.125%, 11/16/28		4,874,000		4,714,539
4.200%, 12/15/44		425,000		342,477
5.150%, 02/27/33		598,000		599,137
5.750%, 01/15/29		848,000		877,442
6.100%, 03/15/34		3,682,000		3,935,265
6.700%, 08/01/28 (h)		510,000		544,978
7.000%, 11/01/28		805,000		857,809

				29,981,677


Agriculture—0.5%
Altria Group, Inc. 3.700%, 02/04/51		653,000		456,326
4.250%, 08/09/42		2,625,000		2,151,115
4.500%, 05/02/43 (h)		691,000		582,216
6.200%, 11/01/28 (h)		1,178,000		1,227,796
6.875%, 11/01/33		848,000		922,507
BAT Capital Corp. 3.984%, 09/25/50		855,000		601,320
4.540%, 08/15/47		1,125,000		868,601
4.758%, 09/06/49		785,000		624,776
6.000%, 02/20/34		232,000		234,910
7.081%, 08/02/53		1,885,000		2,032,122
MHP Lux SA 6.250%, 09/19/29 (144A)		144,000		101,848
Philip Morris International, Inc. 5.125%, 11/17/27 (h)		965,000		969,991
Reynolds American, Inc. 5.850%, 08/15/45		2,306,000		2,138,923

				12,912,451


Airlines—0.1%
ABRA Global Finance 11.500%, 5.500% PIK, 03/02/28 (144A) (i)		369,335		341,721
Air Canada Pass-Through Trust 3.700%, 07/15/27 (144A)		4,616		4,390
Allegiant Travel Co. 7.250%, 08/15/27 (144A) (h)		175,000		174,068
Avianca Midco 2 PLC 9.000%, 12/01/28 (144A)		135,353		130,495
Azul Secured Finance LLP 11.930%, 08/28/28 (144A)		595,000		609,966
Delta Air Lines Pass-Through Trust 3.204%, 10/25/25		2,258,000		2,256,269
Gol Finance SA 15.827%, 1M TSFR + 10.500%, 01/29/25 (144A) (a)		73,551		78,969
15.828%, 02/05/25 (j) (k)		42,367		42,367
Turkish Airlines Pass-Through Trust 4.200%, 09/15/28 (144A)		533,347		502,991

				4,141,236


Apparel—0.0%
William Carter Co. 5.625%, 03/15/27 (144A)		21,000		20,857


Auto Manufacturers—0.1%
Aston Martin Capital Holdings Ltd. 10.000%, 03/31/29 (144A)		217,000		220,943
Ford Motor Credit Co. LLC 7.122%, 11/07/33		1,359,000		1,462,163

				1,683,106


Auto Parts & Equipment—0.0%
Dana, Inc. 4.250%, 09/01/30		55,000		48,600
Metalsa SAPI de CV 3.750%, 05/04/31		209,000		169,457
Tenneco, Inc. 8.000%, 11/17/28 (144A)		410,000		374,100
Tupy Overseas SA 4.500%, 02/16/31		209,000		180,610

				772,767


Banks—6.6%
Banco de Sabadell SA 4.000%, 1Y EUR Swap + 1.600%, 01/15/30 (EUR) (a)		1,700,000		1,858,511
Bank of America Corp. 2.087%, SOFR + 1.060%, 06/14/29 (a)		1,587,000		1,402,398
2.572%, SOFR + 1.210%, 10/20/32 (a)		3,464,000		2,873,814
2.687%, SOFR + 1.320%, 04/22/32 (a)		996,000		843,064
2.972%, SOFR + 1.330%, 02/04/33 (a)		3,051,000		2,594,694
3.974%, 3M TSFR + 1.472%, 02/07/30 (a)		2,577,000		2,442,076
5.468%, SOFR + 1.650%, 01/23/35 (a) (h)		6,240,000		6,280,673
5.819%, SOFR + 1.570%, 09/15/29 (a) (h)		8,812,000		9,035,286
5.872%, SOFR + 1.840%, 09/15/34 (a)		7,527,000		7,806,779
Banque Federative du Credit Mutuel SA 3.750%, 02/03/34 (EUR)		800,000		873,998
4.750%, 11/10/31 (EUR)		700,000		802,609
Barclays PLC 5.690%, SOFR + 1.740%, 03/12/30 (a) (h)		3,385,000		3,402,622
6.490%, SOFR + 2.220%, 09/13/29 (a)		423,000		439,746
9.625%, 5Y SOFR ICE Swap + 5.775%, 12/15/29 (a)		2,047,000		2,170,643
BPCE SA 3.875%, 01/25/36 (EUR)		500,000		548,055
Citigroup, Inc. 3.057%, SOFR + 1.351%, 01/25/33 (a)		2,841,000		2,415,295
3.070%, SOFR + 1.280%, 02/24/28 (a)		295,000		277,483
3.785%, SOFR + 1.939%, 03/17/33 (a)		4,091,000		3,654,265
4.150%, 5Y H15 + 3.000%, 11/15/26 (a)		64,000		58,953
5.174%, SOFR + 1.364%, 02/13/30 (a)		2,257,000		2,246,469
6.270%, SOFR + 2.338%, 11/17/33 (a) (h)		2,800,000		2,957,269
Credit Agricole SA 3.750%, 01/22/34 (EUR)		1,300,000		1,431,394
Credit Suisse AG
0.250%, 09/01/28 (EUR)		900,000		845,223
2.950%, 04/09/25		423,000		411,818

BHFTII-11

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Banks—(Continued)
Credit Suisse AG
3.700%, 02/21/25		2,586,000	$	2,541,735
4.750%, 08/09/24		1,598,000		1,592,165
5.000%, 07/09/27		2,493,000		2,470,280
7.500%, 02/15/28		1,532,000		1,651,937
7.950%, 01/09/25		1,862,000		1,892,871
Deutsche Bank AG 5.371%, 09/09/27 (h)		2,143,000		2,154,094
5.882%, SOFR + 5.438%, 07/08/31 (a) (h)		730,000		711,678
Goldman Sachs Group, Inc. 0.875%, 05/09/29 (EUR)		806,000		761,528
1.431%, SOFR + 0.798%, 03/09/27 (a)		2,000		1,852
1.948%, SOFR + 0.913%, 10/21/27 (a)		1,615,000		1,484,544
1.992%, SOFR + 1.090%, 01/27/32 (a)		169,000		136,754
2.615%, SOFR + 1.281%, 04/22/32 (a)		3,887,000		3,262,172
2.650%, SOFR + 1.264%, 10/21/32 (a)		6,532,000		5,434,761
3.814%, 3M TSFR + 1.420%, 04/23/29 (a) (h)		1,441,000		1,366,027
4.482%, SOFR + 1.725%, 08/23/28 (a)		975,000		953,194
5.866%, SOFR + 0.505%, 09/10/24 (a)		2,198,000		2,199,309
6.484%, SOFR + 1.770%, 10/24/29 (a)		8,113,000		8,535,848
6.561%, SOFR + 1.950%, 10/24/34 (a) (h)		4,316,000		4,708,737
HSBC Holdings PLC 4.856%, 3M EURIBOR + 1.943%, 05/23/33 (EUR) (a)		967,000		1,111,391
ING Groep NV 4.750%, 3M EURIBOR + 1.900%, 05/23/34 (EUR) (a)		500,000		579,992
JPMorgan Chase & Co. 1.764%, 3M TSFR + 1.105%, 11/19/31 (a)		1,385,000		1,121,921
1.953%, SOFR + 1.065%, 02/04/32 (a)		502,000		408,999
2.522%, SOFR + 2.040%, 04/22/31 (a)		2,745,000		2,372,451
2.580%, 3M TSFR + 1.250%, 04/22/32 (a) (h)		327,000		276,458
2.739%, 3M TSFR + 1.510%, 10/15/30 (a)		314,000		278,071
2.963%, SOFR + 1.260%, 01/25/33 (a)		1,529,000		1,305,505
3.650%, 5Y H15 + 2.850%, 06/01/26 (a)		64,000		60,783
4.457%, 3M EURIBOR + 1.280%, 11/13/31 (EUR) (a)		1,670,000		1,904,393
5.012%, SOFR + 1.310%, 01/23/30 (a)		5,696,000		5,672,669
5.299%, SOFR + 1.450%, 07/24/29 (a)		27,000		27,201
5.336%, SOFR + 1.620%, 01/23/35 (a)		2,803,000		2,813,953
KeyCorp 6.401%, SOFR + 2.420%, 03/06/35 (a)		412,000		420,737
Morgan Stanley 1.794%, SOFR + 1.034%, 02/13/32 (a)		1,064,000		850,542
1.928%, SOFR + 1.020%, 04/28/32 (a) (h)		824,000		661,388
2.239%, SOFR + 1.178%, 07/21/32 (a)		1,931,000		1,577,409
2.511%, SOFR + 1.200%, 10/20/32 (a)		2,778,000		2,297,872
2.699%, SOFR + 1.143%, 01/22/31 (a)		3,835,000		3,350,581
4.889%, SOFR + 2.076%, 07/20/33 (a)		422,000		409,290
5.164%, SOFR + 1.590%, 04/20/29 (a)		1,901,000		1,899,466
5.250%, SOFR + 1.870%, 04/21/34 (a) (h)		810,000		803,669
5.424%, SOFR + 1.880%, 07/21/34 (a)		2,764,000		2,772,567
5.449%, SOFR + 1.630%, 07/20/29 (a)		4,055,000		4,090,560
5.466%, SOFR + 1.730%, 01/18/35 (a) (h)		3,516,000		3,547,428
6.407%, SOFR + 1.830%, 11/01/29 (a)		6,389,000		6,699,268
6.627%, SOFR + 2.050%, 11/01/34 (a)		4,487,000		4,909,255
Santander Holdings USA, Inc. 6.174%, SOFR + 2.500%, 01/09/30 (a)		784,000		791,067

Banks—(Continued)
Sumitomo Mitsui Financial Group, Inc. 6.600%, 5Y H15 + 2.283%, 06/05/34 (a)		1,525,000		1,526,935
UBS Group AG 0.650%, 1Y EUR Swap + 0.770%, 01/14/28 (EUR) (a)		500,000		494,944
2.746%, 1Y H15 + 1.100%, 02/11/33 (144A) (a)		360,000		294,094
3.091%, SOFR + 1.730%, 05/14/32 (144A) (a)		324,000		275,584
3.750%, 03/26/25		2,440,000		2,393,969
5.699%, 1Y H15 + 1.770%, 02/08/35 (144A) (a)		2,923,000		2,937,792
6.301%, 1Y H15 + 2.000%, 09/22/34 (144A) (a)		3,169,000		3,317,191
7.750%, 1Y EURIBOR ICE Swap + 4.950%, 03/01/29 (EUR) (a)		806,000		991,430
9.016%, SOFR + 5.020%, 11/15/33 (144A) (a)		1,396,000		1,693,831
9.250%, 5Y H15 + 4.758%, 11/13/33 (144A) (a) (h)		275,000		310,348
Wells Fargo & Co.
0.625%, 03/25/30 (EUR)		510,000		462,995
5.198%, SOFR + 1.500%, 01/23/30 (a)		2,822,000		2,816,051
5.499%, SOFR + 1.780%, 01/23/35 (a) (h)		4,599,000		4,609,827
5.574%, SOFR + 1.740%, 07/25/29 (a)		1,647,000		1,666,521
6.303%, SOFR + 1.790%, 10/23/29 (a)		1,766,000		1,839,360
6.491%, SOFR + 2.060%, 10/23/34 (a)		4,920,000		5,277,064
Wells Fargo Bank NA 5.450%, 08/07/26		746,000		751,013

				184,206,458


Beverages—0.0%
JDE Peet’s NV 4.500%, 01/23/34 (EUR)		905,000		1,013,726


Biotechnology—0.5%
Amgen, Inc. 4.050%, 08/18/29		2,744,000		2,637,488
4.400%, 02/22/62		2,293,000		1,889,123
5.250%, 03/02/30		3,467,000		3,519,691
5.750%, 03/02/63		2,889,000		2,946,634
Gilead Sciences, Inc. 1.650%, 10/01/30 (h)		335,000		275,956
2.600%, 10/01/40		1,150,000		811,581
4.500%, 02/01/45		2,725,000		2,425,086
5.650%, 12/01/41		447,000		459,978

				14,965,537


Chemicals—0.1%
Eastman Chemical Co. 5.750%, 03/08/33		286,000		290,850
Linde PLC 3.200%, 02/14/31 (EUR)		1,200,000		1,298,271
OCP SA 3.750%, 06/23/31		200,000		170,200
Olympus Water U.S. Holding Corp. 9.750%, 11/15/28 (144A) (h)		1,024,000		1,090,782
RPM International, Inc. 4.550%, 03/01/29		280,000		271,631
Sasol Financing USA LLC 8.750%, 05/03/29 (144A)		200,000		203,738

				3,325,472

BHFTII-12

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Commercial Services—0.1%
Allied Universal Holdco LLC/Allied Universal Finance Corp. 9.750%, 07/15/27 (144A)		127,000	$	127,381
Champions Financing, Inc. 8.750%, 02/15/29 (144A)		49,000		51,335
DP World Salaam 6.000%, 5Y H15 + 5.750%, 10/01/25 (a)		200,000		199,100
EquipmentShare.com, Inc. 9.000%, 05/15/28 (144A) (h)		837,000		862,103
Garda World Security Corp. 7.750%, 02/15/28 (144A) (h)		62,000		63,580
9.500%, 11/01/27 (144A) (h)		109,000		109,262
Global Payments, Inc. 5.300%, 08/15/29		1,083,000		1,077,835
GXO Logistics, Inc. 2.650%, 07/15/31 (h)		243,000		197,838
Moody’s Corp. 2.000%, 08/19/31 (h)		750,000		610,916
Motability Operations Group PLC 3.875%, 01/24/34 (EUR)		530,000		585,805

				3,885,155


Computers—0.1%
Dell International LLC/EMC Corp. 4.900%, 10/01/26		3,123,000		3,103,730
Hewlett Packard Enterprise Co. 5.250%, 07/01/28		853,000		860,179

				3,963,909


Diversified Financial Services—0.2%
ASG Finance Designated Activity Co. 7.875%, 12/03/24 (144A)		254,000		249,438
Nasdaq, Inc. 5.550%, 02/15/34 (h)		2,391,000		2,431,332
6.100%, 06/28/63 (h)		1,000,000		1,066,292
Nationstar Mortgage Holdings, Inc. 5.125%, 12/15/30 (144A) (h)		195,000		176,920
5.500%, 08/15/28 (144A)		221,000		211,515
5.750%, 11/15/31 (144A) (h)		96,000		88,545
6.000%, 01/15/27 (144A)		49,000		48,305
7.125%, 02/01/32 (144A)		191,000		189,692
PennyMac Financial Services, Inc. 7.875%, 12/15/29 (144A)		90,000		92,479

				4,554,518


Electric—2.9%
AEP Texas, Inc. 3.450%, 05/15/51		643,000		440,308
3.950%, 06/01/28		1,491,000		1,422,641
4.150%, 05/01/49		348,000		275,971
5.400%, 06/01/33		785,000		783,280
AEP Transmission Co. LLC
2.750%, 08/15/51		678,000		426,389
3.150%, 09/15/49		674,000		463,306
3.650%, 04/01/50		528,000		400,476
3.750%, 12/01/47		355,000		274,308

Electric—(Continued)
AEP Transmission Co. LLC
3.800%, 06/15/49		851,000		662,121
4.500%, 06/15/52		772,000		674,250
5.150%, 04/01/34		1,493,000		1,487,749
AES Panama Generation Holdings SRL 4.375%, 05/31/30		196,419		170,393
Alabama Power Co. 3.750%, 03/01/45		1,057,000		837,401
4.150%, 08/15/44		435,000		367,022
5.200%, 06/01/41		450,000		441,512
5.500%, 03/15/41		285,000		283,299
Algonquin Power & Utilities Corp. 5.365%, 06/15/26 (l)		1,840,000		1,830,039
Ameren Illinois Co. 2.900%, 06/15/51		513,000		336,492
Baltimore Gas & Electric Co. 2.900%, 06/15/50		3,000		1,968
3.200%, 09/15/49		407,000		280,601
3.500%, 08/15/46		1,229,000		917,713
3.750%, 08/15/47		954,000		740,727
4.250%, 09/15/48		622,000		520,665
CenterPoint Energy Houston Electric LLC 3.950%, 03/01/48		849,000		695,034
Coentreprise de Transport d’Electricite SA 3.750%, 01/17/36 (EUR)		1,200,000		1,308,392
Consolidated Edison Co. of New York, Inc. 4.450%, 03/15/44		311,000		273,538
4.500%, 12/01/45 (h)		460,000		403,504
Consumers Energy Co. 3.100%, 08/15/50		631,000		444,722
3.750%, 02/15/50 (h)		982,000		779,629
3.950%, 07/15/47		334,000		277,876
4.625%, 05/15/33		2,530,000		2,462,661
Dominion Energy South Carolina, Inc. 6.250%, 10/15/53		415,000		464,563
DTE Electric Co. 3.250%, 04/01/51		809,000		566,187
Duke Energy Carolinas LLC 3.200%, 08/15/49		1,195,000		834,017
3.450%, 04/15/51		1,269,000		919,277
3.700%, 12/01/47		985,000		746,914
3.875%, 03/15/46		871,000		688,319
3.950%, 03/15/48		344,000		274,246
Duke Energy Corp. 3.850%, 06/15/34 (EUR)		280,000		299,012
Duke Energy Florida LLC 3.000%, 12/15/51		1,731,000		1,135,766
4.200%, 07/15/48		346,000		286,643
5.950%, 11/15/52		1,015,000		1,078,018
6.200%, 11/15/53		260,000		286,647
Duke Energy Ohio, Inc. 5.650%, 04/01/53		267,000		270,762
Duke Energy Progress LLC
2.500%, 08/15/50		1,206,000		724,914
3.450%, 03/15/29		746,000		701,824
3.600%, 09/15/47		478,000		356,593

BHFTII-13

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Electric—(Continued)
Duke Energy Progress LLC
4.000%, 04/01/52 (h)		688,000	$	545,913
5.350%, 03/15/53		1,077,000		1,050,579
Edison International 5.250%, 11/15/28		1,051,000		1,047,300
5.750%, 06/15/27		1,965,000		1,990,897
6.950%, 11/15/29		1,636,000		1,752,700
EDP Servicios Financieros Espana SA 3.500%, 07/16/30 (EUR)		1,700,000		1,831,642
Electricite de France SA 4.250%, 01/25/32 (EUR)		500,000		559,328
Elia Transmission Belgium SA 3.750%, 01/16/36 (EUR)		1,100,000		1,198,813
EnBW International Finance BV 3.850%, 05/23/30 (EUR)		182,000		201,352
Entergy Arkansas LLC 2.650%, 06/15/51		469,000		285,332
Eversource Energy 3.300%, 01/15/28		295,000		275,713
5.450%, 03/01/28		1,220,000		1,235,062
FirstEnergy Corp. 2.050%, 03/01/25		272,000		261,014
2.250%, 09/01/30 (h)		849,000		706,252
3.400%, 03/01/50		850,000		586,134
4.150%, 07/15/27		1,223,000		1,172,968
FirstEnergy Transmission LLC 4.550%, 04/01/49 (144A)		1,346,000		1,138,924
Florida Power & Light Co. 2.875%, 12/04/51		592,000		389,075
3.150%, 10/01/49		1,122,000		789,792
FreeWire Technologies, Inc. 6.000%, 02/20/28 † (i) (j) (k)		1,473,753		1,063,018
Generacion Mediterranea SA/Central Termica Roca SA 9.875%, 12/01/27 (144A)		161,979		147,563
Georgia Power Co. 4.950%, 05/17/33 (h)		1,143,000		1,126,968
MidAmerican Energy Co. 2.700%, 08/01/52		700,000		435,841
3.150%, 04/15/50		402,000		280,204
4.250%, 05/01/46		338,000		286,641
5.300%, 02/01/55		638,000		631,109
5.850%, 09/15/54		297,000		316,891
Northern States Power Co. 2.900%, 03/01/50		803,000		534,544
Ohio Power Co. 1.625%, 01/15/31		924,000		737,084
2.900%, 10/01/51		1,309,000		840,445
4.000%, 06/01/49 (h)		1,867,000		1,480,279
5.000%, 06/01/33 (h)		664,000		651,539
Pacific Gas & Electric Co. 3.500%, 08/01/50 (h)		2,542,000		1,736,838
4.950%, 07/01/50		1,190,000		1,023,628
5.250%, 03/01/52		859,000		766,513
PECO Energy Co.
2.800%, 06/15/50		782,000		511,396
3.000%, 09/15/49		467,000		319,069

Electric—(Continued)
PECO Energy Co.
3.050%, 03/15/51		1,079,000		735,158
4.375%, 08/15/52		322,000		279,550
4.600%, 05/15/52		770,000		693,641
Public Service Co. of New Hampshire 5.150%, 01/15/53 (h)		1,050,000		1,026,782
Public Service Electric & Gas Co. 2.050%, 08/01/50		1,162,000		658,311
3.150%, 01/01/50		602,000		428,749
5.450%, 08/01/53		271,000		278,368
5.450%, 03/01/54		1,593,000		1,642,622
San Diego Gas & Electric Co. 3.320%, 04/15/50		540,000		382,356
4.100%, 06/15/49		340,000		277,063
5.350%, 04/01/53		718,000		707,180
Southern California Edison Co. 2.250%, 06/01/30 (h)		2,175,000		1,848,215
2.500%, 06/01/31		380,000		320,688
2.850%, 08/01/29		305,000		274,658
4.200%, 03/01/29		1,072,000		1,033,432
5.200%, 06/01/34		2,615,000		2,588,791
5.300%, 03/01/28		398,000		402,430
5.350%, 07/15/35		646,000		645,101
5.625%, 02/01/36		287,000		290,303
5.650%, 10/01/28		1,375,000		1,414,459
5.850%, 11/01/27		265,000		272,041
6.000%, 01/15/34		642,000		678,685
Terna - Rete Elettrica Nazionale 3.500%, 01/17/31 (EUR)		1,100,000		1,185,408
Union Electric Co. 5.450%, 03/15/53		440,000		435,735
Virginia Electric & Power Co. 2.450%, 12/15/50		531,000		311,803
4.000%, 01/15/43		655,000		542,638
4.450%, 02/15/44		314,000		274,112

				79,854,328


Energy-Alternate Sources—0.0%
SCC Power PLC 4.000%, 4.000% PIK, 05/17/32 (144A) (i)		691,936		89,952
8.000%, 4.000% PIK, 12/31/28 (144A) (i)		1,277,421		523,330

				613,282


Engineering & Construction—0.0%
Aeropuertos Dominicanos Siglo XXI SA 6.750%, 03/30/29 (144A)		200,000		202,500
Weekley Homes LLC/Weekley Finance Corp. 4.875%, 09/15/28 (144A)		175,000		161,787

				364,287


Entertainment—0.1%
Affinity Interactive 6.875%, 12/15/27 (144A)		194,000		181,271
Churchill Downs, Inc. 5.750%, 04/01/30 (144A)		116,000		111,975

BHFTII-14

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Entertainment—(Continued)
HR Ottawa LP 11.000%, 03/31/31 (144A)		3,772,000	$	3,573,970
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp. 4.875%, 05/01/29 (144A)		232,000		214,822

				4,082,038


Environmental Control—0.1%
Clean Harbors, Inc. 4.875%, 07/15/27 (144A)		72,000		69,840
Covanta Holding Corp. 4.875%, 12/01/29 (144A)		101,000		90,521
Republic Services, Inc. 2.375%, 03/15/33		882,000		713,626
Waste Management, Inc. 4.150%, 04/15/32		318,000		303,758
4.625%, 02/15/33		676,000		661,713

				1,839,458


Food—0.1%
Fiesta Purchaser, Inc. 7.875%, 03/01/31 (144A) (h)		124,000		128,055
Nestle Finance International Ltd. 3.250%, 01/23/37 (EUR)		530,000		568,124
Pilgrim’s Pride Corp. 6.250%, 07/01/33 (h)		436,000		445,543
REWE International Finance BV 4.875%, 09/13/30 (EUR)		500,000		570,517

				1,712,239


Gas—0.2%
Atmos Energy Corp. 3.375%, 09/15/49		393,000		286,036
4.125%, 03/15/49 (h)		368,000		306,662
CenterPoint Energy Resources Corp. 5.250%, 03/01/28		890,000		898,997
National Grid North America, Inc. 4.668%, 09/12/33 (EUR)		1,200,000		1,375,005
NiSource, Inc. 3.490%, 05/15/27		1,072,000		1,022,504
5.250%, 03/30/28		820,000		825,637
5.400%, 06/30/33 (h)		274,000		276,204
ONE Gas, Inc. 5.100%, 04/01/29		351,000		353,288
Piedmont Natural Gas Co., Inc. 2.500%, 03/15/31		558,000		470,605
Promigas SA ESP/Gases del Pacifico SAC 3.750%, 10/16/29 (144A)		207,000		182,462

				5,997,400


Healthcare-Products—0.3%
Agilent Technologies, Inc. 2.100%, 06/04/30		334,000		282,148

Healthcare-Products—(Continued)
Sartorius Finance BV 4.875%, 09/14/35 (EUR)		1,000,000		1,161,835
Solventum Corp. 5.450%, 02/25/27 (144A)		1,503,000		1,508,190
6.000%, 05/15/64 (144A)		1,160,000		1,149,860
Thermo Fisher Scientific, Inc. 4.950%, 11/21/32		1,306,000		1,311,625
5.086%, 08/10/33		1,585,000		1,602,414
5.200%, 01/31/34		269,000		274,335

				7,290,407


Healthcare-Services—0.9%
Elevance Health, Inc. 3.600%, 03/15/51		841,000		630,153
4.375%, 12/01/47		409,000		351,310
4.850%, 08/15/54		521,000		450,163
5.125%, 02/15/53		290,000		277,919
HCA, Inc. 3.500%, 09/01/30		4,129,000		3,734,091
5.250%, 04/15/25		1,126,000		1,121,299
5.250%, 06/15/26		1,089,000		1,085,824
5.375%, 09/01/26		2,264,000		2,263,472
5.450%, 04/01/31		1,349,000		1,356,037
5.875%, 02/15/26		4,647,000		4,666,853
5.875%, 02/01/29		1,959,000		2,002,957
7.690%, 06/15/25		537,000		543,402
Humana, Inc. 5.875%, 03/01/33		262,000		270,369
5.950%, 03/15/34		898,000		932,442
Select Medical Corp. 6.250%, 08/15/26 (144A) (h)		811,000		812,505
Surgery Center Holdings, Inc. 7.250%, 04/15/32 (144A)		207,000		208,607
UnitedHealth Group, Inc.
2.900%, 05/15/50		413,000		278,757
3.250%, 05/15/51		386,000		277,501
4.250%, 06/15/48		464,000		400,660
5.050%, 04/15/53		558,000		541,940
5.875%, 02/15/53		665,000		719,466
6.050%, 02/15/63		1,534,000		1,686,783

				24,612,510


Home Builders—0.3%
Ashton Woods USA LLC/Ashton Woods Finance Co. 4.625%, 08/01/29 (144A)		77,000		71,026
4.625%, 04/01/30 (144A) (h)		190,000		173,597
6.625%, 01/15/28 (144A)		727,000		729,863
Beazer Homes USA, Inc. 7.250%, 10/15/29		772,000		782,027
Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC 5.000%, 06/15/29 (144A)		135,000		122,462
Forestar Group, Inc. 5.000%, 03/01/28 (144A) (h)		287,000		275,953

BHFTII-15

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Home Builders—(Continued)
Homes by WestBay, LLC 11.000%, 02/06/30 † (j) (k)		3,134,000	$	3,079,155
Landsea Homes Corp. 11.000%, 07/17/28 † (j) (k)		3,104,000		3,336,800
LGI Homes, Inc. 8.750%, 12/15/28 (144A)		530,000		559,220
Mattamy Group Corp. 4.625%, 03/01/30 (144A)		337,000		305,741
5.250%, 12/15/27 (144A)		245,000		237,541
New Home Co., Inc. 8.250%, 10/15/27 (144A)		110,000		111,980
STL Holding Co. LLC 8.750%, 02/15/29 (144A)		178,000		182,680

				9,968,045


Insurance—0.2%
Ambac Assurance Corp. 5.100%, (144A) (m)		162,922		235,829
American International Group, Inc. 4.375%, 06/30/50		398,000		345,280
Aon Corp./Aon Global Holdings PLC 2.600%, 12/02/31 (h)		721,000		606,631
Aon North America, Inc. 5.750%, 03/01/54		798,000		818,113
FWD Group Holdings Ltd. 8.400%, 04/05/29 (144A)		1,331,000		1,377,585
Hartford Financial Services Group, Inc. 4.400%, 03/15/48		337,000		292,323
Marsh & McLennan Cos., Inc. 2.900%, 12/15/51		506,000		325,460
5.700%, 09/15/53		263,000		273,046

				4,274,267


Internet—0.1%
Meta Platforms, Inc. 4.650%, 08/15/62		2,504,000		2,248,319


Iron/Steel—0.0%
Big River Steel LLC/BRS Finance Corp. 6.625%, 01/31/29 (144A)		206,000		207,159
Mineral Resources Ltd. 9.250%, 10/01/28 (144A)		343,000		361,247
Samarco Mineracao SA 9.500%, 5.500% PIK, 06/30/31 (i)		405,000		365,522

				933,928


Lodging—0.1%
Full House Resorts, Inc. 8.250%, 02/15/28 (144A)		97,000		92,697
Grupo Posadas SAB de CV 7.000%, 12/30/27 (l)		205,810		189,603
Marriott International, Inc. 2.750%, 10/15/33		337,000		273,886
5.300%, 05/15/34		765,000		756,638
Sonder Holdings, Inc. 13.660%, SOFR + 9.000%, 01/19/27 † (a) (i) (j) (k)		1,570,676		1,386,121

				2,698,945


Machinery-Diversified—0.1%
CNH Industrial Capital LLC 5.450%, 10/14/25 (h)		693,000		694,233
Otis Worldwide Corp. 5.250%, 08/16/28 (h)		958,000		970,448

				1,664,681


Media—0.6%
AMC Networks, Inc. 4.250%, 02/15/29		125,000		88,588
4.750%, 08/01/25		258,000		257,674
10.250%, 01/15/29 (144A)		205,000		206,488
Charter Communications Operating LLC/Charter Communications Operating Capital Corp. 3.700%, 04/01/51		1,040,000		643,188
3.900%, 06/01/52		4,125,000		2,623,360
3.950%, 06/30/62		2,415,000		1,457,005
5.375%, 05/01/47		882,000		710,685
Comcast Corp. 2.650%, 02/01/30		769,000		683,923
2.650%, 08/15/62		541,000		308,698
2.937%, 11/01/56		1,876,000		1,181,141
2.987%, 11/01/63		2,317,000		1,422,957
3.200%, 07/15/36		678,000		556,961
4.400%, 08/15/35		344,000		322,902
5.500%, 05/15/64 (h)		274,000		274,350
5.650%, 06/15/35		552,000		575,846
Cox Communications, Inc. 3.150%, 08/15/24 (144A)		190,000		188,056
CSC Holdings LLC 5.500%, 04/15/27 (144A) (h)		400,000		357,885
11.250%, 05/15/28 (144A)		200,000		198,189
11.750%, 01/31/29 (144A)		247,000		247,385
DISH DBS Corp. 5.875%, 11/15/24 (h)		869,000		832,610
FactSet Research Systems, Inc. 3.450%, 03/01/32		2,231,000		1,969,808
Paramount Global 4.600%, 01/15/45		223,000		153,621
4.900%, 08/15/44		152,000		108,667
5.250%, 04/01/44		198,000		147,239
5.850%, 09/01/43 (h)		524,000		424,569
6.375%, 5Y H15 + 3.999%, 03/30/62 (a)		241,000		222,678

				16,164,473


Mining—0.4%
Anglo American Capital PLC 3.875%, 03/16/29 (144A) (h)		811,000		758,718
5.500%, 05/02/33 (144A)		573,000		569,730
5.625%, 04/01/30 (144A)		1,319,000		1,336,585
Glencore Funding LLC 2.625%, 09/23/31 (144A)		576,000		480,075
5.371%, 04/04/29 (144A)		2,695,000		2,700,343
5.400%, 05/08/28 (144A)		582,000		585,397
6.375%, 10/06/30 (144A)		1,866,000		1,969,184

BHFTII-16

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Mining—(Continued)
Newmont Corp. 2.250%, 10/01/30 (h)		1,376,000	$	1,170,915
Vedanta Resources Finance II PLC 13.875%, 12/09/28 (144A)		346,080		314,933
Vedanta Resources Ltd. 13.875%, 12/09/28 (144A)		5,358		4,689

				9,890,569


Miscellaneous Manufacturing—0.0%
Textron, Inc. 3.900%, 09/17/29		574,000		538,400


Oil & Gas—2.3%
Antero Resources Corp. 5.375%, 03/01/30 (144A) (h)		1,864,000		1,790,149
7.625%, 02/01/29 (144A) (h)		1,388,000		1,425,557
Apache Corp. 4.750%, 04/15/43 (h)		475,000		374,469
5.100%, 09/01/40		953,000		817,838
5.250%, 02/01/42		708,000		597,353
BP Capital Markets America, Inc. 2.772%, 11/10/50		435,000		281,572
3.379%, 02/08/61		432,000		298,421
4.812%, 02/13/33		1,063,000		1,049,078
4.989%, 04/10/34		783,000		781,984
BP Capital Markets PLC 2.822%, 04/07/32 (EUR)		505,000		520,940
6.450%, 5Y H15 + 2.153%, 12/01/33 (a)		845,000		875,073
Calumet Specialty Products Partners LP/Calumet Finance Corp. 9.750%, 07/15/28 (144A)		522,000		516,127
Civitas Resources, Inc. 5.000%, 10/15/26 (144A)		294,000		287,430
8.375%, 07/01/28 (144A) (h)		638,000		671,630
CNX Resources Corp. 7.250%, 03/01/32 (144A)		139,000		141,283
Crescent Energy Finance LLC 7.625%, 04/01/32 (144A)		169,000		170,302
Devon Energy Corp. 4.500%, 01/15/30		1,095,000		1,055,424
Diamondback Energy, Inc.
3.125%, 03/24/31 (h)		7,530,000		6,670,876
3.250%, 12/01/26 (h)		8,219,000		7,878,964
3.500%, 12/01/29		11,200,000		10,360,428
6.250%, 03/15/53		110,000		118,674
Ecopetrol SA 8.375%, 01/19/36		395,000		398,721
8.875%, 01/13/33		71,000		75,099
Energean Israel Finance Ltd. 8.500%, 09/30/33 (144A)		20,591		20,357
Eni SpA 3.875%, 01/15/34 (EUR)		510,000		556,430

Oil & Gas—(Continued)
EQT Corp. 3.125%, 05/15/26 (144A) (h)		1,663,000		1,576,067
3.625%, 05/15/31 (144A)		1,274,000		1,121,260
3.900%, 10/01/27 (h)		4,076,000		3,874,377
5.000%, 01/15/29		1,411,000		1,382,223
5.700%, 04/01/28		780,000		787,281
5.750%, 02/01/34		1,214,000		1,209,994
7.000%, 02/01/30 (h)		1,353,000		1,437,489
Gran Tierra Energy, Inc. 9.500%, 10/15/29 (144A)		200,000		186,899
Hess Corp. 5.600%, 02/15/41 (h)		295,000		300,638
6.000%, 01/15/40		287,000		302,891
Leviathan Bond Ltd. 6.750%, 06/30/30 (144A)		2,998		2,774
Matador Resources Co. 6.500%, 04/15/32 (144A)		223,000		223,270
MC Brazil Downstream Trading SARL 7.250%, 06/30/31 (144A)		218,673		197,969
NAK Naftogaz Ukraine via Kondor Finance PLC 7.125%, 07/19/26 (EUR) (n)		369,000		239,869
7.625%, 11/08/28 (144A) (n)		379,000		226,672
Northern Oil & Gas, Inc. 8.750%, 06/15/31 (144A)		80,000		84,477
Ovintiv, Inc. 5.650%, 05/15/28 (h)		1,139,000		1,157,832
Permian Resources Operating LLC 5.875%, 07/01/29 (144A)		134,000		131,768
7.000%, 01/15/32 (144A)		140,000		145,238
8.000%, 04/15/27 (144A)		358,000		368,718
Petroleos Mexicanos 6.500%, 03/13/27		1,249,000		1,176,431
6.875%, 08/04/26 (h)		478,000		463,975
7.190%, 09/12/24 (MXN)		4,225,600		246,612
8.750%, 06/02/29		69,800		68,061
Petrorio Luxembourg Trading SARL 6.125%, 06/09/26 (144A)		186,000		183,152
Pioneer Midco LLC 10.500%, 11/18/30 † (i) (j) (k)		1,150,573		1,146,316
Pioneer Natural Resources Co. 2.150%, 01/15/31		584,000		491,343
Shelf Drilling Holdings Ltd. 9.625%, 04/15/29 (144A) (h)		1,295,000		1,251,009
Shelf Drilling North Sea Holdings Ltd. 10.250%, 10/31/25 (144A)		548,000		552,019
Sitio Royalties Operating Partnership LP/Sitio Finance Corp. 7.875%, 11/01/28 (144A)		200,000		206,860
Sunoco LP/Sunoco Finance Corp. 4.500%, 04/30/30		235,000		215,194
Talos Production, Inc. 9.375%, 02/01/31 (144A)		94,000		100,209
Transocean Titan Financing Ltd. 8.375%, 02/01/28 (144A)		110,000		114,478
Transocean, Inc. 8.750%, 02/15/30 (144A)		104,400		108,855

BHFTII-17

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Oil & Gas—(Continued)
Vantage Drilling International 9.500%, 02/15/28 (144A)		343,000	$	346,430
Viper Energy, Inc. 5.375%, 11/01/27 (144A)		2,858,000		2,797,350
7.375%, 11/01/31 (144A)		1,040,000		1,081,159
Vital Energy, Inc. 7.875%, 04/15/32 (144A)		116,000		117,841
YPF SA 9.500%, 01/17/31 (144A)		372,000		380,200

				63,739,379


Packaging & Containers—0.1%
Amcor Finance USA, Inc. 5.625%, 05/26/33		275,000		282,398
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. 5.250%, 04/30/25 (144A)		1,176,000		1,136,051
Berry Global, Inc. 5.500%, 04/15/28 (h)		657,000		661,282
Clydesdale Acquisition Holdings, Inc. 8.750%, 04/15/30 (144A) (h)		192,000		188,648
Mauser Packaging Solutions Holding Co. 7.875%, 08/15/26 (144A) †		736,000		749,801
Smurfit Kappa Treasury ULC 5.438%, 04/03/34 (144A)		725,000		725,276
Trivium Packaging Finance BV 5.500%, 08/15/26 (144A)		317,000		312,555

				4,056,011


Pharmaceuticals—0.7%
AbbVie, Inc. 4.300%, 05/14/36		363,000		340,812
4.500%, 05/14/35		836,000		803,676
4.550%, 03/15/35		3,178,000		3,071,682
5.050%, 03/15/34		3,927,000		3,975,674
Bayer U.S. Finance LLC 6.375%, 11/21/30 (144A) (h)		2,518,000		2,574,679
Becton Dickinson & Co. 4.669%, 06/06/47		411,000		368,297
5.110%, 02/08/34		280,000		277,891
Bristol-Myers Squibb Co. 5.550%, 02/22/54		992,000		1,020,157
CVS Health Corp. 2.700%, 08/21/40		629,000		436,675
4.250%, 04/01/50		669,000		542,095
5.125%, 07/20/45		1,096,000		1,010,007
5.625%, 02/21/53		342,000		335,865
Pfizer Investment Enterprises Pte. Ltd. 4.750%, 05/19/33 (h)		2,154,000		2,120,793
5.300%, 05/19/53 (h)		1,912,000		1,900,976
Pfizer, Inc. 4.200%, 09/15/48		729,000		627,215
Takeda Pharmaceutical Co. Ltd. 2.050%, 03/31/30 (h)		1,581,000		1,340,605

				20,747,099


Pipelines—3.1%
Buckeye Partners LP 4.125%, 03/01/25 (144A)		130,000		127,017
4.350%, 10/15/24 (h)		500,000		494,260
Cameron LNG LLC 3.302%, 01/15/35 (144A)		2,908,000		2,419,775
3.402%, 01/15/38 (144A)		1,516,000		1,252,464
Cheniere Corpus Christi Holdings LLC 2.742%, 12/31/39		1,926,000		1,555,683
3.700%, 11/15/29		1,443,000		1,342,234
5.125%, 06/30/27		4,864,000		4,852,405
5.875%, 03/31/25		4,223,000		4,224,215
Cheniere Energy Partners LP 3.250%, 01/31/32		2,794,000		2,380,026
4.500%, 10/01/29 (h)		4,093,000		3,895,500
5.950%, 06/30/33		2,546,000		2,602,962
Cheniere Energy, Inc. 5.650%, 04/15/34 (144A) (h)		2,005,000		2,019,317
Energy Transfer LP 4.950%, 06/15/28		277,000		274,775
4.950%, 01/15/43		375,000		331,823
5.000%, 05/15/50		868,000		761,556
5.150%, 02/01/43		492,000		439,514
5.350%, 05/15/45		300,000		277,028
5.400%, 10/01/47		701,000		646,930
5.950%, 05/15/54		698,000		696,566
6.100%, 02/15/42		353,000		357,018
6.400%, 12/01/30		161,000		169,947
7.375%, 02/01/31 (144A)		6,270,000		6,558,545
Kinder Morgan Energy Partners LP 4.700%, 11/01/42		331,000		282,469
5.500%, 03/01/44		293,000		278,779
Kinder Morgan, Inc. 5.000%, 02/01/29		1,166,000		1,161,205
5.300%, 12/01/34		959,000		942,873
5.400%, 02/01/34		551,000		548,790
NGPL PipeCo LLC 3.250%, 07/15/31 (144A)		2,904,000		2,480,609
4.875%, 08/15/27 (144A)		1,672,000		1,630,944
7.768%, 12/15/37 (144A)		387,000		431,186
Northwest Pipeline LLC 4.000%, 04/01/27		3,295,000		3,199,065
Sabine Pass Liquefaction LLC 5.000%, 03/15/27		4,708,000		4,694,232
5.625%, 03/01/25		6,751,000		6,745,096
5.750%, 05/15/24		109,000		108,967
5.875%, 06/30/26		5,188,000		5,228,943
5.900%, 09/15/37		1,947,000		2,021,920
Targa Resources Corp. 4.200%, 02/01/33		2,601,000		2,371,326
5.200%, 07/01/27		1,434,000		1,431,923
6.500%, 03/30/34		331,000		355,651
Targa Resources Partners LP/Targa Resources Partners Finance Corp. 4.000%, 01/15/32		2,024,000		1,821,771
4.875%, 02/01/31		2,353,000		2,252,495
5.000%, 01/15/28		1,761,000		1,735,861
5.500%, 03/01/30 (h)		2,248,000		2,236,932

BHFTII-18

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Pipelines—(Continued)
Texas Eastern Transmission LP 3.500%, 01/15/28 (144A)		398,000	$	374,569
Transcontinental Gas Pipe Line Co. LLC 3.950%, 05/15/50		592,000		467,981
4.000%, 03/15/28		1,524,000		1,468,169
4.600%, 03/15/48		1,751,000		1,550,157
7.850%, 02/01/26		1,607,000		1,666,982
Venture Global LNG, Inc. 8.125%, 06/01/28 (144A)		117,000		119,362

				85,287,817


Real Estate—0.2%
Five Point Operating Co. LP/Five Point Capital Corp. 10.500%, 01/15/28 (144A)		394,604		406,277
Howard Hughes Corp. 5.375%, 08/01/28 (144A) (h)		416,000		399,017
Lessen, Inc. 12.730%, SOFR + 8.500%, 01/05/28 † (a) (j) (k)		1,807,323		1,651,532
Resort Communities LoanCo. LP 12.000%, 2.000% PIK, 11/21/28 (i) (j) (k)		4,248,000		4,179,182

				6,636,008


Real Estate Investment Trusts—1.6%
American Tower Corp. 1.875%, 10/15/30		1,485,000		1,204,041
2.700%, 04/15/31		459,000		388,570
3.600%, 01/15/28		401,000		378,849
3.800%, 08/15/29		2,388,000		2,228,628
4.050%, 03/15/32		2,282,000		2,088,413
5.250%, 07/15/28		1,859,000		1,859,127
5.800%, 11/15/28 (h)		264,000		270,291
Crown Castle, Inc. 2.100%, 04/01/31		340,000		275,214
2.250%, 01/15/31 (h)		1,477,000		1,215,211
3.300%, 07/01/30		2,667,000		2,370,126
Equinix, Inc. 2.500%, 05/15/31 (h)		1,237,000		1,031,849
3.200%, 11/18/29		2,383,000		2,133,331
3.900%, 04/15/32		1,000,000		904,842
Extra Space Storage LP 5.500%, 07/01/30 (h)		610,000		616,228
GLP Capital LP/GLP Financing II, Inc. 3.250%, 01/15/32		3,400,000		2,862,215
4.000%, 01/15/30		3,044,000		2,779,043
4.000%, 01/15/31 (h)		3,141,000		2,802,765
5.300%, 01/15/29		3,271,000		3,216,322
5.750%, 06/01/28		2,074,000		2,075,533
6.750%, 12/01/33		1,132,000		1,193,076
Invitation Homes Operating Partnership LP 2.700%, 01/15/34		572,000		455,312
NNN REIT, Inc. 3.100%, 04/15/50		473,000		310,320
3.500%, 04/15/51		1,270,000		919,218
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer 4.875%, 05/15/29 (144A) (h)		340,000		316,173

Real Estate Investment Trusts—(Continued)
Prologis LP 2.125%, 10/15/50		761,000		424,790
5.125%, 01/15/34		277,000		278,200
Realty Income Corp. 3.100%, 12/15/29 (h)		486,000		441,181
3.200%, 02/15/31		316,000		280,083
3.250%, 01/15/31		716,000		638,733
Service Properties Trust 4.500%, 03/15/25		237,000		231,548
5.500%, 12/15/27 (h)		71,000		67,680
7.500%, 09/15/25 (h)		680,000		689,166
8.625%, 11/15/31 (144A)		419,000		446,837
VICI Properties LP 4.750%, 02/15/28 (h)		2,147,000		2,093,751
4.950%, 02/15/30		4,039,000		3,905,934
VICI Properties LP/VICI Note Co., Inc. 3.750%, 02/15/27 (144A)		786,000		744,932
XHR LP 4.875%, 06/01/29 (144A)		52,000		48,145

				44,185,677


Retail—0.2%
Lowe’s Cos., Inc. 2.625%, 04/01/31		955,000		821,759
2.800%, 09/15/41		1,523,000		1,082,519
4.500%, 04/15/30 (h)		700,000		684,465
5.800%, 10/15/36		286,000		298,629
McDonald’s Corp. 3.875%, 02/20/31 (EUR)		1,200,000		1,328,635
Sally Holdings LLC/Sally Capital, Inc. 6.750%, 03/01/32		258,000		255,983

				4,471,990


Semiconductors—0.3%
Broadcom, Inc. 3.137%, 11/15/35 (144A)		3,646,000		2,945,608
3.469%, 04/15/34 (144A)		320,000		274,211
4.150%, 04/15/32 (144A)		1,178,000		1,092,876
Intel Corp. 3.050%, 08/12/51		416,000		280,406
5.050%, 08/05/62		391,000		367,687
5.150%, 02/21/34		416,000		416,948
KLA Corp. 3.300%, 03/01/50		1,095,000		803,759
4.950%, 07/15/52		290,000		279,516
5.000%, 03/15/49		318,000		308,942
NXP BV/NXP Funding LLC/NXP USA, Inc. 2.500%, 05/11/31		835,000		699,111
Texas Instruments, Inc. 2.700%, 09/15/51		914,000		595,419

				8,064,483


Shipbuilding—0.1%
Huntington Ingalls Industries, Inc.
2.043%, 08/16/28		2,425,000		2,117,313

BHFTII-19

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Shipbuilding—(Continued)
Huntington Ingalls Industries, Inc.
3.483%, 12/01/27		569,000	$	534,460

				2,651,773


Software—0.3%
Autodesk, Inc. 3.500%, 06/15/27		287,000		274,574
Cloud Software Group, Inc. 9.000%, 09/30/29 (144A)		128,000		122,767
Oracle Corp. 3.600%, 04/01/40		347,000		273,531
3.600%, 04/01/50		943,000		681,295
3.650%, 03/25/41		407,000		319,575
3.800%, 11/15/37		2,462,000		2,064,461
3.950%, 03/25/51		560,000		426,684
4.125%, 05/15/45		344,000		277,677
4.375%, 05/15/55		2,174,000		1,749,646
4.500%, 07/08/44		1,208,000		1,032,605
Playtika Holding Corp. 4.250%, 03/15/29 (144A)		61,000		52,809

				7,275,624


Telecommunications—1.9%
AT&T, Inc. 2.550%, 12/01/33 (h)		622,000		498,207
3.500%, 09/15/53		239,000		168,620
3.650%, 06/01/51		1,738,000		1,275,930
3.650%, 09/15/59		5,236,000		3,645,365
3.800%, 12/01/57		4,879,000		3,532,503
Cisco Systems, Inc. 4.950%, 02/26/31		2,205,000		2,224,461
CommScope Technologies LLC 6.000%, 06/15/25 (144A)		206,000		179,158
CommScope, Inc. 6.000%, 03/01/26 (144A) (h)		153,000		139,995
Digicel Group Holdings Ltd.
Zero Coupon, 12/31/30 (144A) (n)		242,322		52,237
Digicel Intermediate Holdings Ltd./Digicel International Finance Ltd./Difl U.S. 12.000%, 3.000% PIK, 05/25/27 (i)		121,607		119,566
Digicel Midco Ltd./Difl U.S. II LLC 10.500%, 11.000% PIK, 11/25/28 (i)		79,779		63,634
Kenbourne Invest SA 4.700%, 01/22/28 (144A) †		210,000		74,554
6.875%, 11/26/24 (144A) †		310,000		147,932
Level 3 Financing, Inc. 4.625%, 09/15/27 (144A)		426,000		283,290
Level 3 New Money TSA 11.000%, 11/15/29 (144A)		718,018		746,739
Motorola Solutions, Inc. 5.600%, 06/01/32		3,602,000		3,651,122
Rogers Communications, Inc. 5.300%, 02/15/34 (h)		1,649,000		1,634,290
Sprint LLC
7.125%, 06/15/24		3,629,000		3,635,216

Telecommunications—(Continued)
Sprint LLC
7.625%, 02/15/25		4,116,000		4,164,647
7.625%, 03/01/26		6,469,000		6,683,376
T-Mobile USA, Inc. 3.875%, 04/15/30		4,509,000		4,223,952
5.050%, 07/15/33		3,086,000		3,052,499
5.150%, 04/15/34		277,000		276,073
Telefonica Emisiones SA 4.055%, 01/24/36 (EUR)		700,000		768,464
Verizon Communications, Inc.
1.750%, 01/20/31		2,777,000		2,254,169
2.355%, 03/15/32 (h)		6,690,000		5,497,816
2.550%, 03/21/31		624,000		533,096
2.850%, 09/03/41		1,234,000		888,332
3.000%, 11/20/60		1,200,000		748,303
4.272%, 01/15/36		695,000		638,569
4.400%, 11/01/34 (h)		584,000		550,525
5.850%, 09/15/35		293,000		308,665
VF Ukraine PAT via VFU Funding PLC 6.200%, 02/11/25 (144A)		147,000		121,275
Zayo Group Holdings, Inc. 4.000%, 03/01/27 (144A) (h)		195,000		160,513

				52,943,093


Transportation—0.2%
Burlington Northern Santa Fe LLC 2.875%, 06/15/52		1,082,000		708,449
3.050%, 02/15/51		458,000		314,378
3.300%, 09/15/51		519,000		373,153
Norfolk Southern Corp. 3.050%, 05/15/50		1,106,000		748,031
4.050%, 08/15/52		451,000		360,853
Union Pacific Corp. 2.973%, 09/16/62		582,000		364,329
3.839%, 03/20/60		1,276,000		979,718
3.850%, 02/14/72 (h)		690,000		514,454
Union Pacific Railroad Co. Pass-Through Trust 3.227%, 05/14/26		575,106		553,043

				4,916,408

Total Corporate Bonds & Notes (Cost $744,995,388)				745,149,807


Asset-Backed Securities—10.2%

Asset-Backed - Home Equity—0.9%
Ace Securities Corp.
Zero Coupon, 08/15/30		614,343		538,029
ACE Securities Corp. Home Equity Loan Trust 5.704%, 1M TSFR + 0.374%, 05/25/37 (a)		998,153		166,147
Argent Mortgage Loan Trust 5.924%, 1M TSFR + 0.594%, 05/25/35 (a)		1,736,805		1,367,143
Bayview Financial Revolving Asset Trust 6.445%, 1M TSFR + 1.114%, 05/28/39 (144A) (a)		3,316,723		2,730,108
6.445%, 1M TSFR + 1.114%, 12/28/40 (144A) (a)		123,225		126,850

BHFTII-20

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Asset-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Asset-Backed - Home Equity—(Continued)
Bear Stearns Asset-Backed Securities I Trust 5.794%, 1M TSFR + 0.464%, 04/25/37 (a)		2,511,127	$	2,602,332
6.250%, 12/25/35 (l)		1,190,470		1,100,227
6.250%, 02/25/36 (l)		1,419,514		1,373,670
7.169%, 1M TSFR + 1.839%, 08/25/34 (a)		7,737		7,463
Bear Stearns Asset-Backed Securities Trust 6.004%, 1M TSFR + 0.674%, 04/25/36 (a)		2,034,528		1,832,657
7.385%, 1M TSFR + 5.364%, 06/25/35 (a)		2,142,000		2,139,110
Bear Stearns Structured Products Trust 7.444%, 1M TSFR + 2.114%, 03/25/37 (144A) (a)		1,188,992		1,164,974
Citigroup Mortgage Loan Trust, Inc. 5.644%, 1M TSFR + 0.314%, 05/25/37 (a)		1,612,012		1,066,140
5.714%, 1M TSFR + 0.384%, 05/25/37 (a)		732,247		484,327
CSMC Trust 2.465%, 09/27/66 (144A) (a)		2,781,215		2,747,505
CWHEQ Home Equity Loan Trust 6.155%, 06/25/35		34,399		56,146
GSAA Home Equity Trust 5.772%, 11/25/36 (a)		160,024		47,601
Home Equity Mortgage Loan Asset-Backed Trust 4.025%, 1M TSFR + 2.139%, 07/25/34 (a)		114,613		109,662
Home Equity Mortgage Trust 5.867%, 07/25/36 (l)		460,145		47,701
Irwin Home Equity Loan Trust 6.530%, 09/25/37 (144A) (l)		36,493		36,163
MASTR Asset-Backed Securities Trust 5.724%, 1M TSFR + 0.394%, 05/25/37 (a)		621,846		486,188
5.964%, 1M TSFR + 0.634%, 06/25/36 (144A) (a)		315,911		283,791
Morgan Stanley Mortgage Loan Trust 6.463%, 01/25/47 (l)		3,237,221		1,142,631
6.512%, 10/25/36 (l)		274,657		66,489
Option One Mortgage Loan Trust 5.654%, 1M TSFR + 0.324%, 03/25/37 (a)		930,000		747,098
5.820%, 03/25/37 (l)		746,139		647,403
5.866%, 01/25/37 (l)		2,257,091		1,868,185
Yale Mortgage Loan Trust 5.844%, 1M TSFR + 0.514%, 06/25/37 (144A) (a)		707,614		223,287

				25,209,027


Asset-Backed - Manufactured Housing—0.4%
Bank of America Manufactured Housing Contract Trust 7.070%, 02/10/22 (a)		470,000		91,187
7.291%, 12/10/25 (a)		4,000,000		617,006
BCMSC Trust 7.575%, 06/15/30 (a)		1,270,292		133,253
7.830%, 06/15/30 (a)		1,178,847		127,823
8.290%, 06/15/30 (a)		850,435		97,630
Cascade MH Asset Trust 4.000%, 11/25/44 (144A) (a)		1,592,875		1,528,050
Conseco Finance Corp. 6.830%, 04/01/30 (a)		1,368,796		1,285,274
7.500%, 03/01/30 (a)		354,302		110,387
7.860%, 03/01/30 (a)		330,838		107,723
Conseco Finance Securitizations Corp.
7.960%, 05/01/31		878,314		221,631

Asset-Backed - Manufactured Housing—(Continued)
Conseco Finance Securitizations Corp.
8.060%, 09/01/29 (a)		586,391		105,315
8.200%, 05/01/31		1,604,918		417,190
Credit Suisse First Boston Mortgage Securities Corp. 8.100%, 09/25/31 (a)		245,170		244,721
Credit-Based Asset Servicing & Securitization LLC 6.750%, 10/25/36 (144A) (l)		3,973,603		3,000,520
GreenPoint Manufactured Housing 8.290%, 12/15/29 (a)		19,205		19,161
9.230%, 12/15/29 (a)		356,371		346,560
Lehman ABS Manufactured Housing Contract Trust 6.630%, 04/15/40 (a)		616,359		617,710
Oakwood Mortgage Investors, Inc. 6.930%, 09/15/31 (a)		154,747		76,805
7.620%, 06/15/32 (a)		774,257		752,694
Origen Manufactured Housing Contract Trust 6.640%, 1M SOFR + 1.314%, 10/15/37 (144A) (a)		143,577		140,574
7.820%, 03/15/32 (a)		192,705		187,636

				10,228,850


Asset-Backed - Other—8.2%
510 Loan Acquisition Trust 8.107%, 09/25/60 (144A) (l)		728,972		720,355
522 Funding CLO Ltd. 7.979%, 3M TSFR + 2.662%, 04/20/30 (144A) (a)		625,000		625,021
9.229%, 3M TSFR + 3.912%, 04/20/30 (144A) (a)		360,000		360,070
AGL CLO 12 Ltd. 6.739%, 3M TSFR + 1.422%, 07/20/34 (144A) (a)		1,310,000		1,310,761
AGL CLO 14 Ltd. 6.729%, 3M TSFR + 1.412%, 12/02/34 (144A) (a)		1,330,000		1,330,549
7.229%, 3M TSFR + 1.912%, 12/02/34 (144A) (a)		250,000		250,966
AGL Core CLO 15 Ltd. 6.729%, 3M TSFR + 1.412%, 01/20/35 (144A) (a)		250,000		250,065
AGL Core CLO 4 Ltd. 6.649%, 3M TSFR + 1.332%, 04/20/33 (144A) (a)		860,000		860,481
AIMCO CLO 7.178%, 3M TSFR + 1.862%, 10/17/34 (144A) (a)		250,000		250,008
AIMCO CLO 11 Ltd. 7.178%, 3M TSFR + 1.862%, 10/17/34 (144A) (a)		330,000		331,313
Allegro CLO II-S Ltd. 6.659%, 3M TSFR + 1.342%, 10/21/28 (144A) (a)		378,421		378,487
Allegro CLO V Ltd. 7.026%, 3M TSFR + 1.712%, 10/16/30 (144A) (a)		250,000		249,383
ALM Ltd. 7.426%, 3M TSFR + 2.112%, 10/15/29 (144A) (a)		1,220,000		1,224,924
Anchorage Capital CLO 17 Ltd. 6.746%, 3M TSFR + 1.432%, 07/15/34 (144A) (a)		1,890,000		1,891,100
Anchorage Capital CLO 3-R Ltd. 7.081%, 3M TSFR + 1.762%, 01/28/31 (144A) (a)		1,270,000		1,269,007
7.431%, 3M TSFR + 2.112%, 01/28/31 (144A) (a)		250,000		249,607
Anchorage Capital CLO 6 Ltd. 1.000%, 3M TSFR + 1.440%, 04/22/34 (144A) (a)		890,000		890,157
6.626%, 3M TSFR + 1.312%, 07/15/30 (144A) (a)		418,122		417,928
7.326%, 3M TSFR + 2.100%, 04/22/34 (144A) (a)		540,000		540,095
Anchorage Capital CLO 7 Ltd.
6.671%, 3M TSFR + 1.352%, 01/28/31 (144A) (a)		694,407		694,301

BHFTII-21

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Asset-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Asset-Backed - Other—(Continued)
Anchorage Capital CLO 7 Ltd.
7.331%, 3M TSFR + 2.012%, 01/28/31 (144A) (a)		1,480,000	$	1,480,053
9.081%, 3M TSFR + 3.762%, 01/28/31 (144A) (a)		250,000		246,485
Anchorage Capital CLO 8 Ltd. 7.381%, 3M TSFR + 2.062%, 10/27/34 (144A) (a)		1,050,000		1,058,868
Anchorage Capital CLO Ltd. 6.826%, 3M TSFR + 1.512%, 10/13/30 (144A) (a)		418,737		419,200
7.726%, 3M TSFR + 2.412%, 10/13/30 (144A) (a)		590,000		589,760
Apidos CLO XXII Ltd. 7.079%, 3M TSFR + 1.762%, 04/20/31 (144A) (a)		250,000		249,993
Apidos CLO XXV Ltd. 7.108%, 3M TSFR + 1.800%, 10/20/31 (144A) (a)		650,000		650,114
Apidos CLO XXVI Ltd. 7.510%, 3M TSFR + 2.212%, 07/18/29 (144A) (a)		250,000		249,170
ARES European CLO XII DAC 5.670%, 3M EURIBOR + 1.700%, 04/20/32 (144A) (EUR) (a)		297,000		317,558
ARES LII CLO Ltd. 6.629%, 3M TSFR + 1.312%, 04/22/31 (144A) (a)		1,330,000		1,331,138
ARES LIX CLO Ltd. 6.616%, 3M TSFR + 1.292%, 04/25/34 (144A) (a)		250,000		248,279
ARES LVI CLO Ltd. 6.746%, 3M TSFR + 1.422%, 10/25/34 (144A) (a)		350,000		350,405
ARES XXXVII CLO Ltd. 6.746%, 3M TSFR + 1.432%, 10/15/30 (144A) (a)		299,336		299,392
Argent Securities Trust 5.744%, 1M TSFR + 0.414%, 07/25/36 (a)		540,692		137,276
Arm Master Trust LLC Agricultural Loan Backed Notes 2.430%, 11/15/27 (144A)		370,000		355,789
Armada Euro CLO III DAC 7.242%, 3M EURIBOR + 3.300%, 07/15/31 (144A) (EUR) (a)		250,000		269,726
ASSURANT CLO Ltd. 6.619%, 3M TSFR + 1.302%, 04/20/31 (144A) (a)		386,839		386,919
Avoca CLO XXII DAC 5.242%, 3M EURIBOR + 1.300%, 04/15/35 (EUR) (a)		150,000		157,135
6.842%, 3M EURIBOR + 2.900%, 04/15/35 (144A) (EUR) (a)		250,000		260,627
Bain Capital Credit CLO Ltd. 7.079%, 3M TSFR + 1.762%, 07/20/30 (144A) (a)		250,000		249,621
7.171%, 3M TSFR + 1.862%, 07/19/31 (144A) (a)		250,000		249,581
8.680%, 3M TSFR + 3.362%, 07/24/34 (144A) (a)		250,000		242,494
Ballyrock CLO Ltd. 11.729%, 3M TSFR + 6.412%, 10/20/31 (144A) (a)		250,000		248,146
Bankers Healthcare Group Securitization Trust 5.170%, 09/17/31 (144A)		100,000		96,929
Bardot CLO Ltd. 8.579%, 3M TSFR + 3.262%, 10/22/32 (144A) (a)		250,000		248,898
Barings CLO Ltd. 6.649%, 3M TSFR + 1.332%, 04/20/31 (144A) (a)		250,000		250,131
6.769%, 3M TSFR + 1.452%, 10/20/30 (144A) (a)		633,554		634,354
6.979%, 3M TSFR + 1.662%, 01/20/31 (144A) (a)		250,000		250,011
Battalion CLO 18 Ltd. 7.326%, 3M TSFR + 2.012%, 10/15/36 (144A) (a)		298,000		297,860
Battalion CLO VIII Ltd. 6.630%, 3M TSFR + 1.332%, 07/18/30 (144A) (a)		979,162		979,482
7.110%, 3M TSFR + 1.812%, 07/18/30 (144A) (a)		642,000		642,092

Asset-Backed - Other—(Continued)
Battalion CLO XI Ltd. 7.300%, 3M TSFR + 1.982%, 04/24/34 (144A) (a)		250,000		248,845
Battalion CLO XX Ltd. 6.756%, 3M TSFR + 1.442%, 07/15/34 (144A) (a)		730,000		727,674
Benefit Street Partners CLO V-B Ltd. 6.669%, 3M TSFR + 1.352%, 04/20/31 (144A) (a)		933,090		933,819
Benefit Street Partners CLO VIII Ltd. 6.679%, 3M TSFR + 1.362%, 01/20/31 (144A) (a)		1,558,583		1,560,278
Benefit Street Partners CLO XII Ltd. 7.576%, 3M TSFR + 2.262%, 10/15/30 (144A) (a)		270,000		269,784
Benefit Street Partners CLO XX Ltd. 12.326%, 3M TSFR + 7.012%, 07/15/34 (144A) (a)		250,000		250,529
BHG Securitization Trust 2.240%, 10/17/34 (144A)		130,000		115,246
Birch Grove CLO 3 Ltd. 7.371%, 3M TSFR + 2.062%, 01/19/35 (144A) (a)		250,000		250,058
BlueMountain CLO Ltd. 6.759%, 3M TSFR + 1.442%, 10/22/30 (144A) (a)		434,890		435,216
7.175%, 3M TSFR + 1.850%, 10/25/30 (144A) (a)		970,000		969,019
7.269%, 3M TSFR + 1.962%, 08/15/31 (144A) (a)		250,000		249,583
BlueMountain CLO XXII Ltd. 7.076%, 3M TSFR + 1.762%, 07/15/31 (144A) (a)		660,000		660,632
BlueMountain CLO XXVIII Ltd. 6.836%, 3M TSFR + 1.522%, 04/15/34 (144A) (a)		100,000		100,130
BlueMountain EUR CLO DAC 5.692%, 3M EURIBOR + 1.750%, 10/15/35 (144A) (EUR) (a)		560,000		594,245
Bridge Street CLO II Ltd. 6.809%, 3M TSFR + 1.492%, 07/20/34 (144A) (a)		250,000		249,856
Buttermilk Park CLO Ltd. 6.676%, 3M TSFR + 1.362%, 10/15/31 (144A) (a)		246,979		247,282
C-BASS Trust 5.764%, 1M TSFR + 0.434%, 10/25/36 (a)		153,992		99,184
Canyon Capital CLO Ltd. 6.676%, 3M TSFR + 1.362%, 04/15/32 (144A) (a)		460,000		460,213
Canyon CLO Ltd. 7.276%, 3M TSFR + 1.962%, 01/15/34 (144A) (a)		290,000		289,221
Carlyle Global Market Strategies CLO Ltd. 6.548%, 3M TSFR + 1.232%, 04/17/31 (144A) (a)		815,477		815,549
Carlyle U.S. CLO Ltd. 6.736%, 3M TSFR + 1.422%, 07/15/34 (144A) (a)		610,000		610,293
6.756%, 3M TSFR + 1.442%, 01/15/30 (144A) (a)		1,182,706		1,182,439
7.009%, 3M TSFR + 1.692%, 07/20/29 (144A) (a)		520,000		519,315
Carrington Mortgage Loan Trust 5.604%, 1M TSFR + 0.274%, 10/25/36 (a)		120,882		116,950
CBAM Ltd. 6.829%, 3M TSFR + 1.512%, 07/20/30 (144A) (a)		1,248,880		1,249,078
6.978%, 3M TSFR + 1.662%, 04/17/31 (144A) (a)		250,000		248,268
Cedar Funding II CLO Ltd. 6.659%, 3M TSFR + 1.342%, 04/20/34 (144A) (a)		535,000		534,978
6.929%, 3M TSFR + 1.612%, 04/20/34 (144A) (a)		510,000		502,865
Cedar Funding IX CLO Ltd. 6.559%, 3M TSFR + 1.242%, 04/20/31 (144A) (a)		331,548		331,859
Cedar Funding V CLO Ltd. 6.678%, 3M TSFR + 1.362%, 07/17/31 (144A) (a)		711,577		711,945

BHFTII-22

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Asset-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Asset-Backed - Other—(Continued)
Cedar Funding VI CLO Ltd. 6.629%, 3M TSFR + 1.312%, 04/20/34 (144A) (a)		3,020,000	$	3,017,351
Cedar Funding VIII CLO Ltd. 7.228%, 3M TSFR + 1.912%, 10/17/34 (144A) (a)		460,000		459,331
Cedar Funding XI CLO Ltd. 6.955%, 3M TSFR + 1.612%, 05/29/32 (144A) (a)		250,000		248,663
Cedar Funding XIV CLO Ltd. 7.176%, 3M TSFR + 1.862%, 07/15/33 (144A) (a)		250,000		249,755
Chase Funding Trust 6.333%, 04/25/32 (l)		17,639		17,542
CIFC Funding Ltd. 6.560%, 3M TSFR + 1.262%, 04/18/31 (144A) (a)		1,184,444		1,185,097
6.626%, 3M TSFR + 1.312%, 07/15/33 (144A) (a)		1,100,000		1,100,570
6.709%, 3M TSFR + 1.392%, 10/20/34 (144A) (a)		1,190,000		1,190,242
6.716%, 3M TSFR + 1.402%, 07/15/34 (144A) (a)		280,000		280,394
6.726%, 3M TSFR + 1.412%, 07/15/36 (144A) (a)		250,000		250,120
6.830%, 3M TSFR + 1.550%, 04/21/37 (144A) (a)		1,170,000		1,170,537
6.960%, 3M TSFR + 1.662%, 01/18/31 (144A) (a)		330,000		329,858
7.136%, 3M TSFR + 1.812%, 04/25/33 (144A) (a)		440,000		440,176
7.181%, 3M TSFR + 1.862%, 04/27/31 (144A) (a)		250,000		249,811
7.226%, 3M TSFR + 1.912%, 10/15/34 (144A) (a)		250,000		249,998
7.229%, 3M TSFR + 1.912%, 10/20/34 (144A) (a)		250,000		250,982
7.326%, 3M TSFR + 2.012%, 07/16/30 (144A) (a)		250,000		249,987
7.378%, 3M TSFR + 2.062%, 10/17/31 (144A) (a)		270,000		270,054
Citigroup Mortgage Loan Trust, Inc. 5.614%, 1M TSFR + 0.284%, 07/25/45 (a)		546,994		384,259
9.194%, 1M TSFR + 3.864%, 07/25/37 (a)		4,602,562		3,952,542
Clear Creek CLO Ltd. 6.779%, 3M TSFR + 1.462%, 10/20/30 (144A) (a)		120,772		120,851
Clontarf Park CLO DAC 6.934%, 3M EURIBOR + 3.050%, 08/05/30 (EUR) (a)		310,000		333,725
Clover CLO LLC 6.699%, 3M TSFR + 1.382%, 04/20/32 (144A) (a)		250,000		250,264
Countrywide Asset-Backed Certificates Trust 4.552%, 04/25/36 (a)		686,432		589,690
5.764%, 1M TSFR + 0.434%, 09/25/46 (a)		256		255
Credit-Based Asset Servicing & Securitization LLC 3.053%, 12/25/36 (l)		139,098		115,116
CVC Cordatus Loan Fund IV DAC 5.243%, 3M EURIBOR + 1.300%, 02/22/34 (EUR) (a)		250,000		263,038
CWABS Asset-Backed Certificates Trust 5.864%, 1M TSFR + 0.534%, 04/25/46 (a)		523,872		361,187
CWHEQ Revolving Home Equity Loan Trust 5.590%, 1M TSFR + 0.264%, 11/15/36 (a)		112,724		110,612
5.620%, 1M TSFR + 0.294%, 05/15/35 (a)		39,129		38,932
Diameter Capital CLO 1 Ltd. 6.816%, 3M TSFR + 1.502%, 07/15/36 (144A) (a)		250,000		250,109
Dryden 42 Senior Loan Fund 7.126%, 3M TSFR + 1.812%, 07/15/30 (144A) (a)		250,000		249,905
Dryden 43 Senior Loan Fund 6.619%, 3M TSFR + 1.302%, 04/20/34 (144A) (a)		910,000		910,193
Dryden 45 Senior Loan Fund 7.276%, 3M TSFR + 1.962%, 10/15/30 (144A) (a)		540,000		539,467
Dryden 53 CLO Ltd. 6.696%, 3M TSFR + 1.382%, 01/15/31 (144A) (a)		5,474,245		5,478,739

Asset-Backed - Other—(Continued)
Dryden 65 CLO Ltd. 7.160%, 3M TSFR + 1.862%, 07/18/30 (144A) (a)		250,000		249,585
Dryden 68 CLO Ltd. 7.276%, 3M TSFR + 1.962%, 07/15/35 (144A) (a)		250,000		249,638
Dryden 77 CLO Ltd. 6.701%, 3M TSFR + 1.382%, 05/20/34 (144A) (a)		610,000		610,211
Dryden 87 CLO Ltd. 6.681%, 3M TSFR + 1.362%, 05/20/34 (144A) (a)		400,000		400,280
Dryden XXVIII Senior Loan Fund 6.769%, 3M TSFR + 1.462%, 08/15/30 (144A) (a)		1,874,371		1,875,777
Eaton Vance CLO Ltd. 7.776%, 3M TSFR + 2.462%, 10/15/30 (144A) (a)		710,000		708,236
Elmwood CLO 27 Ltd. 11.000%, 3M TSFR + 1.950%, 04/18/37 (144A) (a)		250,000		250,045
Elmwood CLO II Ltd. 6.729%, 3M TSFR + 1.412%, 04/20/34 (144A) (a)		750,000		750,646
7.229%, 3M TSFR + 1.912%, 04/20/34 (144A) (a)		250,000		250,255
12.379%, 3M TSFR + 7.062%, 04/20/34 (144A) (a)		250,000		248,226
Elmwood CLO X Ltd. 6.619%, 3M TSFR + 1.302%, 10/20/34 (144A) (a)		1,220,000		1,219,721
7.529%, 3M TSFR + 2.212%, 10/20/34 (144A) (a)		250,000		248,869
Elmwood CLO XII Ltd. 6.729%, 3M TSFR + 1.412%, 01/20/35 (144A) (a)		250,000		249,934
Equity One Mortgage Pass-Through Trust 5.459%, 12/25/33 (a)		2,987,903		2,330,963
Euro-Galaxy III CLO DAC 7.195%, 3M EURIBOR + 3.250%, 04/24/34 (144A) (EUR) (a)		290,000		310,522
Fairstone Financial Issuance Trust I 3.735%, 10/20/39 (144A) (CAD)		323,000		226,316
Fidelity Grand Harbour CLO DAC 7.542%, 3M EURIBOR + 3.600%, 10/15/34 (144A) (EUR) (a)		250,000		265,033
First Franklin Mortgage Loan Trust 5.594%, 1M TSFR + 0.264%, 12/25/36 (a)		1,447,620		1,187,768
5.684%, 1M TSFR + 0.354%, 10/25/36 (a)		137,134		88,941
5.724%, 1M TSFR + 0.394%, 12/25/36 (a)		3,692,017		1,510,206
5.864%, 1M TSFR + 0.534%, 12/25/36 (a)		6,791,696		2,788,319
Flatiron CLO 18 Ltd. 6.528%, 3M TSFR + 1.212%, 04/17/31 (144A) (a)		207,055		207,212
Flatiron CLO 20 Ltd. 7.220%, 3M TSFR + 1.920%, 05/20/36 (144A) (a)		250,000		250,045
Flatiron CLO 21 Ltd. 6.681%, 3M TSFR + 1.372%, 07/19/34 (144A) (a)		2,390,000		2,391,883
Foundation Finance Trust 2.190%, 01/15/42 (144A)		544,161		500,418
Fremont Home Loan Trust 5.724%, 1M TSFR + 0.394%, 02/25/37 (a)		637,061		479,558
FS Rialto Issuer LLC 6.691%, 1M TSFR + 1.364%, 11/16/36 (144A) (a)		537,568		534,751
Galaxy XXII CLO Ltd. 6.776%, 3M TSFR + 1.462%, 04/16/34 (144A) (a)		660,000		660,053
Galaxy XXVIII CLO Ltd. 6.676%, 3M TSFR + 1.362%, 07/15/31 (144A) (a)		221,803		222,018
7.176%, 3M TSFR + 1.862%, 07/15/31 (144A) (a)		250,000		249,906

BHFTII-23

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Asset-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Asset-Backed - Other—(Continued)
Generate CLO 6 Ltd. 9.079%, 3M TSFR + 3.762%, 01/22/35 (144A) (a)		250,000	$	250,065
Gilbert Park CLO Ltd. 8.526%, 3M TSFR + 3.212%, 10/15/30 (144A) (a)		861,000		858,551
GoldenTree Loan Management U.S. CLO 1 Ltd. 6.709%, 3M TSFR + 1.392%, 10/20/34 (144A) (a)		910,000		910,471
GoldenTree Loan Management U.S. CLO 12 Ltd. 7.268%, 3M TSFR + 1.950%, 04/20/34 (144A) (a)		460,000		462,157
Goldman Home Improvement Trust Issuer Trust 1.970%, 06/25/51 (144A)		397,011		363,554
Gracie Point International Funding LLC 7.308%, SOFR90A + 1.950%, 09/01/26 (144A) (a)		366,412		368,827
Grippen Park CLO Ltd. 8.879%, 3M TSFR + 3.562%, 01/20/30 (144A) (a)		250,000		248,808
Henley CLO IV DAC 5.298%, 3M EURIBOR + 1.350%, 04/25/34 (EUR) (a)		100,000		105,720
Highbridge Loan Management 6.740%, 3M TSFR + 1.442%, 07/18/29 (144A) (a)		189,076		189,126
Home Partners of America Trust 3.799%, 12/17/26 (144A)		1,361,398		1,217,202
HPS Loan Management Ltd. 6.534%, 3M TSFR + 1.262%, 02/05/31 (144A) (a)		753,187		753,238
6.719%, 3M TSFR + 1.402%, 04/20/34 (144A) (a)		1,160,000		1,160,000
Invesco Euro CLO V DAC 7.742%, 3M EURIBOR + 3.800%, 01/15/34 (EUR) (a)		100,000		105,749
Knollwood CDO Ltd. 8.791%, SOFR + 3.462%, 01/10/39 (144A) † (a)		1,210,583		121
LCM 26 Ltd. 6.649%, 3M TSFR + 1.332%, 01/20/31 (144A) (a)		1,712,451		1,713,659
LCM 29 Ltd. 6.646%, 3M TSFR + 1.332%, 04/15/31 (144A) (a)		250,000		250,061
Lehman ABS Mortgage Loan Trust 5.534%, 1M TSFR + 0.204%, 06/25/37 (144A) (a)		125,248		81,278
Lendmark Funding Trust 8.690%, 05/20/33 (144A)		327,000		337,813
Loanpal Solar Loan Ltd. 2.290%, 01/20/48 (144A)		789,118		632,994
2.750%, 07/20/47 (144A)		836,413		674,586
Logan CLO I Ltd. 6.739%, 3M TSFR + 1.422%, 07/20/34 (144A) (a)		730,000		730,783
Long Beach Mortgage Loan Trust 5.744%, 1M TSFR + 0.414%, 06/25/36 (a)		452,667		209,510
5.764%, 1M TSFR + 0.434%, 08/25/36 (a)		506,209		199,118
Madison Park Euro Funding XVI DAC 7.142%, 3M EURIBOR + 3.200%, 05/25/34 (144A) (EUR) (a)		250,000		264,689
Madison Park Funding LXVII Ltd. 7.027%, 3M TSFR + 2.050%, 04/25/37 (144A) (a)		640,000		640,330
Madison Park Funding XIII Ltd. 6.521%, 3M TSFR + 1.212%, 04/19/30 (144A) (a)		778,673		779,036
Madison Park Funding XIX Ltd. 6.918%, 3M TSFR + 1.600%, 01/22/37 (144A) (a)		1,094,000		1,097,720
Madison Park Funding XLV Ltd. 6.696%, 3M TSFR + 1.382%, 07/15/34 (144A) (a)		790,000		790,325
Madison Park Funding XVIII Ltd. 6.519%, 3M TSFR + 1.202%, 10/21/30 (144A) (a)		4,869,760		4,870,418

Asset-Backed - Other—(Continued)
Madison Park Funding XXII Ltd. 7.176%, 3M TSFR + 1.862%, 01/15/33 (144A) (a)		250,000		249,852
Madison Park Funding XXIII Ltd. 7.581%, 3M TSFR + 2.262%, 07/27/31 (144A) (a)		250,000		248,932
Madison Park Funding XXV Ltd. 7.236%, 3M TSFR + 1.912%, 04/25/29 (144A) (a)		250,000		250,016
Madison Park Funding XXVI Ltd. 6.781%, 3M LIBOR + 1.462%, 07/29/30 (144A) (a)		1,912,789		1,914,977
Madison Park Funding XXXVII Ltd. 6.646%, 3M TSFR + 1.332%, 07/15/33 (144A) (a)		350,000		350,294
Madison Park Funding XXXVIII Ltd. 6.698%, 3M TSFR + 1.382%, 07/17/34 (144A) (a)		860,000		860,519
Marble Point CLO XI Ltd. 6.740%, 3M TSFR + 1.442%, 12/18/30 (144A) (a)		418,834		419,193
Mariner Finance Issuance Trust 4.010%, 07/20/32 (144A)		151,846		151,441
4.680%, 11/20/36 (144A)		400,000		336,512
Merrill Lynch First Franklin Mortgage Loan Trust 5.924%, 1M TSFR + 0.594%, 05/25/37 (a)		7,378,503		5,152,156
Mill City Solar Loan Ltd. 3.690%, 07/20/43 (144A)		945,616		845,520
Mosaic Solar Loan Trust 2.100%, 04/20/46 (144A)		127,567		110,510
2.880%, 09/20/40 (144A)		107,644		95,792
MP CLO III Ltd. 6.829%, 3M TSFR + 1.512%, 10/20/30 (144A) (a)		635,837		636,156
Neuberger Berman CLO XVI-S Ltd. 6.616%, 3M TSFR + 1.302%, 04/15/34 (144A) (a)		440,000		438,521
Neuberger Berman Loan Advisers CLO 26 Ltd. 6.480%, 3M TSFR + 1.182%, 10/18/30 (144A) (a)		1,663,710		1,663,233
Neuberger Berman Loan Advisers CLO 32 Ltd. 6.971%, 3M TSFR + 1.662%, 01/20/32 (144A) (a)		250,000		249,386
Neuberger Berman Loan Advisers CLO 37 Ltd. 7.029%, 3M TSFR + 1.712%, 07/20/31 (144A) (a)		250,000		249,750
Neuberger Berman Loan Advisers CLO 42 Ltd. 6.676%, 3M TSFR + 1.362%, 07/16/35 (144A) (a)		680,000		680,205
Neuberger Berman Loan Advisers CLO 46 Ltd. 7.229%, 3M TSFR + 1.912%, 01/20/36 (144A) (a)		250,000		250,002
Nomura Asset Acceptance Corp. Alternative Loan Trust 5.844%, 1M TSFR + 0.514%, 10/25/36 (144A) (a)		59,187		68,895
Oak Hill European Credit Partners V DAC 5.870%, 3M EURIBOR + 1.900%, 01/21/35 (144A) (EUR) (a)		250,000		267,265
Oceana Trust 12.000%, 07/31/25 (AUD) † (j) (k)		304,000		198,478
12.500%, 07/31/26 (AUD) † (j) (k)		456,000		299,024
12.500%, 07/31/27 (AUD) † (j) (k)		759,000		500,191
OCP CLO Ltd. 6.587%, 3M TSFR + 1.262%, 04/10/33 (144A) (a)		250,000		249,812
6.666%, 3M TSFR + 1.342%, 04/26/31 (144A) (a)		148,197		148,203
6.669%, 3M TSFR + 1.352%, 07/20/32 (144A) (a)		500,000		500,344
6.759%, 3M TSFR + 1.442%, 12/02/34 (144A) (a)		330,000		330,286
6.986%, 3M TSFR + 1.662%, 04/26/31 (144A) (a)		180,000		179,817
7.531%, 3M TSFR + 2.212%, 11/20/30 (144A) (a)		250,000		250,001
Octagon 57 Ltd. 7.226%, 3M TSFR + 1.912%, 10/15/34 (144A) (a)		250,000		249,516

BHFTII-24

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Asset-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Asset-Backed - Other—(Continued)
Octagon Investment Partners 18-R Ltd. 6.536%, 3M TSFR + 1.222%, 04/16/31 (144A) (a)		1,901,812	$	1,903,193
Octagon Investment Partners 33 Ltd. 6.769%, 3M TSFR + 1.452%, 01/20/31 (144A) (a)		209,978		210,152
Octagon Investment Partners 37 Ltd. 7.166%, 3M TSFR + 1.842%, 07/25/30 (144A) (a)		250,000		250,056
Octagon Investment Partners 39 Ltd. 7.133%, 3M TSFR + 1.800%, 10/20/30 (144A) (a)		860,000		859,991
Octagon Investment Partners 51 Ltd. 6.729%, 3M TSFR + 1.412%, 07/20/34 (144A) (a)		1,170,000		1,170,696
Octagon Investment Partners XV Ltd. 6.921%, 3M TSFR + 1.612%, 07/19/30 (144A) (a)		250,000		248,669
Octagon Investment Partners XVI Ltd. 6.598%, 3M TSFR + 1.282%, 07/17/30 (144A) (a)		3,197,328		3,200,426
Octagon Investment Partners XVII Ltd. 6.586%, 3M TSFR + 1.262%, 01/25/31 (144A) (a)		2,975,748		2,978,351
OHA Credit Funding 2 Ltd. 6.729%, 3M TSFR + 1.412%, 04/21/34 (144A) (a)		2,340,000		2,341,048
OHA Credit Funding 3 Ltd. 6.719%, 3M TSFR + 1.402%, 07/02/35 (144A) (a)		550,000		550,243
7.229%, 3M TSFR + 1.912%, 07/02/35 (144A) (a)		343,000		343,353
OHA Credit Funding 4 Ltd. 6.729%, 3M TSFR + 1.412%, 10/22/36 (144A) (a)		250,000		250,375
OHA Credit Funding 9 Ltd. 7.271%, 3M TSFR + 1.962%, 07/19/35 (144A) (a)		350,000		351,285
OHA Credit Partners XII Ltd. 5.840%, 3M TSFR + 1.950%, 04/23/37 (144A) (a)		250,000		250,000
OHA Loan Funding Ltd. 6.624%, 3M TSFR + 1.302%, 05/23/31 (144A) (a)		5,574,144		5,580,024
OZLM Funding IV Ltd. 6.829%, 3M TSFR + 1.512%, 10/22/30 (144A) (a)		4,465,272		4,464,383
OZLM XVIII Ltd. 6.596%, 3M TSFR + 1.282%, 04/15/31 (144A) (a)		402,647		403,015
7.126%, 3M TSFR + 1.812%, 04/15/31 (144A) (a)		250,000		250,057
OZLM XXII Ltd. 6.648%, 3M TSFR + 1.332%, 01/17/31 (144A) (a)		169,713		169,935
Palmer Square CLO Ltd. 6.578%, 3M TSFR + 1.262%, 10/17/31 (144A) (a)		502,021		502,300
6.706%, 3M TSFR + 1.392%, 05/21/34 (144A) (a)		4,195,000		4,199,312
6.708%, 3M TSFR + 1.392%, 01/17/31 (144A) (a)		679,757		680,079
6.726%, 3M TSFR + 1.412%, 01/15/35 (144A) (a)		250,000		249,999
6.957%, 3M TSFR + 1.650%, 11/15/36 (144A) (a)		250,000		250,503
7.276%, 3M TSFR + 1.962%, 05/21/34 (144A) (a)		250,000		249,883
Palmer Square Loan Funding Ltd. 6.921%, 3M TSFR + 1.600%, 04/15/31 (144A) (a)		1,580,000		1,579,984
10.576%, 3M TSFR + 5.262%, 10/15/29 (144A) (a)		270,000		269,988
Pikes Peak CLO 1 6.760%, 3M TSFR + 1.442%, 07/24/31 (144A) (a)		242,097		242,378
Pikes Peak CLO 8 6.749%, 3M TSFR + 1.432%, 07/20/34 (144A) (a)		1,180,000		1,177,410
Post CLO Ltd. 8.526%, 3M TSFR + 3.212%, 04/16/31 (144A) (a)		250,000		248,300
PRET LLC 2.487%, 07/25/51 (144A) (l)		964,949		941,408
7.021%, 02/25/54 (144A) (l)		1,710,451		1,704,703
8.112%, 11/25/53 (144A) (l)		1,147,306		1,149,306

Asset-Backed - Other—(Continued)
Prima Capital CRE Securitization Ltd. 4.000%, 08/24/40 (144A)		1,740,000		1,648,274
4.000%, 08/24/49 (144A)		177,728		172,352
Progress Residential Trust
2.757%, 04/17/38 (144A)		500,000		453,355
3.395%, 04/19/38 (144A)		967,000		883,407
3.407%, 05/17/38 (144A)		1,340,000		1,217,037
3.436%, 05/17/26 (144A)		1,070,000		979,178
3.666%, 12/17/40 (144A)		342,934		302,839
4.053%, 11/17/40 (144A)		221,000		191,098
4.608%, 12/17/40 (144A)		1,385,533		1,223,748
Race Point IX CLO Ltd. 6.516%, 3M TSFR + 1.202%, 10/15/30 (144A) (a)		641,292		641,122
Rad CLO 15 Ltd. 6.669%, 3M TSFR + 1.352%, 01/20/34 (144A) (a)		250,000		249,934
Rad CLO 2 Ltd. 6.656%, 3M TSFR + 1.342%, 10/15/31 (144A) (a)		498,880		499,045
Rad CLO 3 Ltd. 7.126%, 3M TSFR + 1.812%, 04/15/32 (144A) (a)		250,000		249,479
8.326%, 3M TSFR + 3.012%, 04/15/32 (144A) (a)		250,000		248,658
Rad CLO 4 Ltd. 8.386%, 3M TSFR + 3.062%, 04/25/32 (144A) (a)		250,000		250,031
Rad CLO 7 Ltd. 7.230%, 3M TSFR + 1.900%, 04/17/36 (144A) (a)		460,000		459,991
7.930%, 3M TSFR + 2.600%, 04/17/36 (144A) (a)		250,000		249,994
9.480%, 3M TSFR + 4.150%, 04/17/36 (144A) (a)		250,000		249,992
Redwood Funding Trust 7.500%, 07/25/59 (144A) (l)		767,472		753,094
Regatta VI Funding Ltd. 6.739%, 3M TSFR + 1.422%, 04/20/34 (144A) (a)		760,000		760,367
Regatta VII Funding Ltd. 6.744%, 3M TSFR + 1.412%, 06/20/34 (144A) (a)		280,000		280,012
Regatta XVI Funding Ltd. 7.626%, 3M TSFR + 2.312%, 01/15/33 (144A) (a)		250,000		251,667
Regional Management Issuance Trust 1.900%, 08/15/33 (144A)		173,000		155,046
3.875%, 10/17/33 (j) (k)		3,710,000		3,380,923
Riserva CLO Ltd. 6.620%, 3M TSFR + 1.322%, 01/18/34 (144A) (a)		940,000		940,055
Rockford Tower CLO Ltd. 6.679%, 3M TSFR + 1.362%, 04/20/34 (144A) (a)		856,000		855,991
6.769%, 3M TSFR + 1.452%, 10/20/30 (144A) (a)		2,570,562		2,571,249
7.076%, 3M TSFR + 1.762%, 10/15/29 (144A) (a)		1,781,000		1,781,183
7.231%, 3M TSFR + 1.912%, 08/20/32 (144A) (a)		250,000		249,711
8.426%, 3M TSFR + 3.112%, 10/15/29 (144A) (a)		939,000		938,958
Romark WM-R Ltd. 6.609%, 3M TSFR + 1.292%, 04/20/31 (144A) (a)		212,652		213,008
RR 1 LLC 6.726%, 3M TSFR + 1.412%, 07/15/35 (144A) (a)		1,620,000		1,619,937
RR 12 Ltd. 7.276%, 3M TSFR + 1.962%, 01/15/36 (144A) (a)		250,000		249,964
RR 3 Ltd. 6.666%, 3M TSFR + 1.352%, 01/15/30 (144A) (a)		627,578		628,582
RR 5 Ltd. 7.226%, 3M TSFR + 1.912%, 10/15/31 (144A) (a)		250,000		250,010

BHFTII-25

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Asset-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Asset-Backed - Other—(Continued)
RRX 4 Ltd. 6.776%, 3M TSFR + 1.462%, 07/15/34 (144A) (a)		1,860,000	$	1,861,280
RRX 5 Ltd. 7.376%, 3M TSFR + 2.062%, 07/15/34 (144A) (a)		250,000		250,542
Saxon Asset Securities Trust 3.243%, 08/25/35 (l)		164,114		115,816
Securitized Asset-Backed Receivables LLC Trust 5.884%, 1M TSFR + 0.554%, 01/25/37 (a)		82,000		56,277
Service Experts Issuer LLC 2.670%, 02/02/32 (144A)		676,441		631,187
SG Mortgage Securities Trust 5.654%, 1M TSFR + 0.324%, 10/25/36 (a)		570,000		400,094
Signal Peak CLO 1 Ltd. 6.738%, 3M TSFR + 1.422%, 04/17/34 (144A) (a)		1,750,000		1,746,829
7.378%, 3M TSFR + 2.062%, 04/17/34 (144A) (a)		490,000		492,676
Signal Peak CLO 2 LLC 7.079%, 3M TSFR + 1.762%, 04/20/29 (144A) (a)		1,412,000		1,413,268
Signal Peak CLO 5 Ltd. 6.876%, 3M TSFR + 1.550%, 04/25/37 (144A) (a)		270,000		270,202
Sixth Street CLO XIX Ltd. 6.679%, 3M TSFR + 1.362%, 07/20/34 (144A) (a)		2,890,000		2,892,147
Sixth Street CLO XX Ltd. 7.229%, 3M TSFR + 1.912%, 10/20/34 (144A) (a)		250,000		250,146
SoFi Personal Loan Trust
Zero Coupon, 02/12/31 (j) (k)		2,158,000		2,157,905
SoFi Personal Loan Trust
Zero Coupon, 02/12/31 (j) (k)		23,003		1,151,418
Sound Point CLO II Ltd. 6.656%, 3M TSFR + 1.332%, 01/26/31 (144A) (a)		386,951		387,411
Sound Point CLO XII Ltd. 7.629%, 3M TSFR + 2.312%, 10/20/28 (144A) (a)		780,000		780,222
Sound Point CLO XV Ltd. 6.477%, 3M TSFR + 1.162%, 01/23/29 (144A) (a)		7,578		7,575
Sound Point CLO XXVIII Ltd. 6.866%, 3M TSFR + 1.542%, 01/25/32 (144A) (a)		350,000		349,925
Soundview Home Loan Trust 5.794%, 1M TSFR + 0.464%, 01/25/37 (a)		3,384,348		3,080,736
6.239%, 1M TSFR + 0.909%, 01/25/35 (a)		13,865		11,822
6.464%, 1M TSFR + 1.134%, 11/25/35 (a)		158,500		114,384
Steele Creek CLO Ltd. 6.826%, 3M TSFR + 1.512%, 10/15/30 (144A) (a)		533,164		533,406
Sycamore Tree CLO Ltd. 8.073%, 3M TSFR + 2.250%, 04/20/36 (144A) (a)		320,000		320,056
Symphony CLO XX Ltd. 7.226%, 3M TSFR + 1.912%, 01/16/32 (144A) (a)		250,000		250,347
Symphony CLO XXIII Ltd. 7.176%, 3M TSFR + 1.862%, 01/15/34 (144A) (a)		250,000		250,015
Symphony CLO XXVI Ltd. 6.659%, 3M TSFR + 1.342%, 04/20/33 (144A) (a)		398,000		398,363
TCI-Flatiron CLO Ltd. 6.541%, 3M TSFR + 1.222%, 11/18/30 (144A) (a)		416,794		417,005
TCW CLO AMR Ltd. 6.807%, 3M TSFR + 1.482%, 08/16/34 (144A) (a)		250,000		249,607
TIAA CLO III Ltd. 6.726%, 3M TSFR + 1.412%, 01/16/31 (144A) (a)		435,848		435,739
TICP CLO VI Ltd. 6.696%, 3M TSFR + 1.382%, 01/15/34 (144A) (a)		820,000		821,099

Asset-Backed - Other—(Continued)
TICP CLO VII Ltd. 6.963%, 3M TSFR + 1.900%, 04/15/33 (144A) (a)		395,000		395,000
TICP CLO VIII Ltd. 7.279%, 3M TSFR + 1.962%, 10/20/34 (144A) (a)		270,000		270,531
TICP CLO X Ltd. 7.049%, 3M TSFR + 1.732%, 04/20/31 (144A) (a)		250,000		250,109
TICP CLO XI Ltd. 1.000%, 3M TSFR + 2.050%, 04/25/37 (144A) (a)		260,000		260,047
TICP CLO XII Ltd. 6.746%, 3M TSFR + 1.432%, 07/15/34 (144A) (a)		250,000		250,138
Trestles CLO IV Ltd. 6.749%, 3M TSFR + 1.432%, 07/21/34 (144A) (a)		1,170,000		1,170,122
Trestles CLO Ltd. 8.486%, 3M TSFR + 3.162%, 04/25/32 (144A) (a)		250,000		246,242
Tricon American Homes Trust
4.564%, 05/17/37 (144A)		260,000		255,826
4.960%, 05/17/37 (144A)		180,000		177,537
Tricon Residential Trust 3.692%, 07/17/38 (144A)		795,000		726,147
4.133%, 07/17/38 (144A)		639,000		573,396
Trinitas CLO IV Ltd. 6.960%, 3M TSFR + 1.662%, 10/18/31 (144A) (a)		160,000		159,869
Trinitas CLO XIV Ltd. 7.586%, 3M TSFR + 2.262%, 01/25/34 (144A) (a)		560,000		560,076
Venture 32 CLO Ltd. 6.630%, 3M TSFR + 1.332%, 07/18/31 (144A) (a)		415,174		415,115
VOLT CVI LLC 2.734%, 12/26/51 (144A) (l)		1,508,674		1,443,142
Voya CLO Ltd. 6.619%, 3M TSFR + 1.302%, 04/20/34 (144A) (a)		357,000		356,464
6.636%, 3M TSFR + 1.322%, 04/15/31 (144A) (a)		1,552,556		1,553,767
6.706%, 3M TSFR + 1.392%, 10/15/30 (144A) (a)		705,615		706,072
7.179%, 3M TSFR + 1.862%, 10/20/34 (144A) (a)		250,000		250,000
Voya Euro CLO V DAC 5.692%, 3M EURIBOR + 1.750%, 04/15/35 (144A) (EUR) (a)		340,000		359,943
7.042%, 3M EURIBOR + 3.100%, 04/15/35 (144A) (EUR) (a)		250,000		262,987
Washington Mutual Asset-Backed Certificates WMABS Trust 4.661%, 1M TSFR + 0.424%, 10/25/36 (a)		508,163		373,966
5.804%, 1M TSFR + 0.474%, 09/25/36 (a)		1,673,742		453,618
Whitebox CLO I Ltd. 8.630%, 3M TSFR + 3.312%, 07/24/32 (144A) (a)		500,000		500,102
11.980%, 3M TSFR + 6.662%, 07/24/32 (144A) (a)		250,000		241,370
Whitebox CLO III Ltd. 8.926%, 3M TSFR + 3.612%, 10/15/34 (144A) (a)		250,000		250,041
12.426%, 3M TSFR + 7.112%, 10/15/34 (144A) (a)		250,000		247,456

				228,488,490


Asset-Backed - Student Loan—0.7%
College Avenue Student Loans LLC 2.420%, 06/25/52 (144A)		141,115		123,474
2.720%, 06/25/52 (144A)		78,517		69,346
4.110%, 07/26/55 (144A)		100,000		88,331
Navient Private Education Loan Trust 6.340%, 1M TSFR + 1.014%, 11/15/68 (144A) (a)		264,164		262,562

BHFTII-26

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Asset-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Asset-Backed - Student Loan—(Continued)
Navient Private Education Refi Loan Trust 2.610%, 04/15/60 (144A)		280,000	$	256,421
2.690%, 07/15/69 (144A)		450,000		355,643
3.480%, 04/15/60 (144A)		710,000		627,317
4.000%, 04/15/60 (144A)		230,000		208,499
Nelnet Student Loan Trust 2.530%, 04/20/62 (144A)		2,102,119		1,708,321
2.680%, 04/20/62 (144A)		3,120,000		2,581,550
2.850%, 04/20/62 (144A)		3,661,000		3,031,037
2.900%, 04/20/62 (144A)		1,640,000		1,360,692
3.360%, 04/20/62 (144A)		110,000		89,187
3.500%, 04/20/62 (144A)		170,000		135,092
3.570%, 04/20/62 (144A)		142,000		115,100
3.750%, 04/20/62 (144A)		277,000		226,280
4.380%, 04/20/62 (144A)		100,000		79,255
4.440%, 04/20/62 (144A)		160,000		129,639
4.750%, 04/20/62 (144A)		260,000		213,555
4.930%, 04/20/62 (144A)		374,000		311,632
7.570%, SOFR30A + 2.250%, 11/25/53 (144A) (a)		708,623		706,578
Prodigy Finance DAC 6.694%, 1M TSFR + 1.364%, 07/25/51 (144A) (a)		334,057		331,554
7.944%, 1M TSFR + 2.614%, 07/25/51 (144A) (a)		76,944		77,526
Scholar Funding Trust 6.086%, SOFR30A + 0.764%, 01/30/45 (144A) (a)		2,396,186		2,353,434
SLM Private Education Loan Trust 10.190%, 1M TSFR + 4.864%, 10/15/41 (144A) (a)		2,294,892		2,464,716
SMB Private Education Loan Trust 2.300%, 01/15/53 (144A)		146,323		136,115
2.990%, 01/15/53 (144A)		1,274,006		1,082,954
3.000%, 01/15/53 (144A)		83,816		70,662
3.500%, 12/17/40 (144A)		972,309		947,480
3.860%, 01/15/53 (144A)		612,412		529,845
3.930%, 01/15/53 (144A)		70,281		63,774

				20,737,571

Total Asset-Backed Securities (Cost $296,349,927)				284,663,938


Mortgage-Backed Securities—8.5%

Collateralized Mortgage Obligations—3.6%
Agate Bay Mortgage Trust 3.498%, 06/25/45 (144A) (a)		104,000		62,828
3.502%, 04/25/45 (144A) (a)		150,000		96,546
3.654%, 01/25/45 (144A) (a)		130,000		83,324
Ajax Mortgage Loan Trust
Zero Coupon, 12/25/57 (144A) (a)		21,456		7,239
1.740%, 12/25/60 (144A) (a)		3,743,957		3,174,789
1.875%, 06/25/61 (144A) (l)		12,095,060		11,490,564
2.000%, 03/25/60 (144A) (l)		3,563,164		3,395,358
2.115%, 01/25/61 (144A) (l)		1,584,829		1,536,941
2.693%, 12/25/60 (144A) (a)		744,000		552,690
2.940%, 12/25/60 (144A) (a)		293,000		201,527
3.729%, 12/25/60 (144A) (a)		449,000		303,290
American Home Mortgage Assets Trust 6.029%, 12M MTA + 0.940%, 10/25/46 (a)		303,068		199,768

Collateralized Mortgage Obligations—(Continued)
American Home Mortgage Investment Trust 5.634%, 1M TSFR + 0.304%, 05/25/47 (a)		3,746,916		2,067,659
Angel Oak Mortgage Trust 4.800%, 11/25/67 (144A) (l)		1,776,091		1,720,849
APS Resecuritization Trust 8.294%, 1M TSFR + 2.964%, 09/27/46 (144A) (a)		99,853		99,802
Banc of America Alternative Loan Trust 5.500%, 10/25/33		665,456		640,793
6.498%, 10/25/36 (l)		245,760		72,448
Barclays Mortgage Trust 2.000%, 11/25/51 (144A) (l)		2,625,496		2,506,434
Chase Mortgage Finance Trust 5.187%, 02/25/37 (a)		1,280,796		1,225,659
6.000%, 12/25/37		6,237,166		2,567,208
CHL Mortgage Pass-Through Trust 5.750%, 07/25/37		292,717		146,164
6.000%, 05/25/37		2,867,613		1,239,315
6.000%, 08/25/37		5,551,101		2,384,063
6.000%, 01/25/38		940,152		416,164
6.049%, 12M MTA + 0.960%, 04/25/46 (a)		3,102,930		933,612
Citigroup Mortgage Loan Trust, Inc. 5.944%, 1M TSFR + 0.614%, 05/25/37 (a)		286,145		254,782
Countrywide Alternative Loan Trust 5.420%, 1M TSFR + 0.464%, 06/25/35 (a)		856,774		710,539
5.500%, 06/25/25		75,904		60,317
5.500%, 04/25/37		526,272		266,543
5.633%, 1M TSFR + 0.304%, 03/20/47 (a)		808,289		648,945
5.643%, 1M TSFR + 0.314%, 07/20/46 (a)		1,336,611		1,063,296
5.724%, 1M TSFR + 0.674%, 08/25/35 (a)		4,779,719		4,348,895
5.724%, 1M TSFR + 0.394%, 04/25/47 (a)		385,637		336,253
5.733%, 1M TSFR + 0.404%, 12/20/46 (a)		3,510,464		3,017,358
5.824%, 1M TSFR + 0.494%, 10/25/46 (a)		526,311		469,399
5.903%, 1M TSFR + 0.574%, 05/20/46 (a)		2,200,783		1,842,936
5.904%, 1M TSFR + 0.574%, 03/25/36 (a)		173,233		165,061
5.904%, 1M TSFR + 0.574%, 11/25/36 (a)		527,400		424,101
5.944%, 1M TSFR + 0.614%, 07/25/46 (a)		2,405,230		2,012,925
6.000%, 05/25/36		1,274,445		521,708
6.000%, 04/25/37		89,917		41,972
6.000%, 05/25/37		1,940,093		934,170
6.250%, 10/25/36		165,499		85,730
6.819%, 12M MTA + 1.730%, 11/25/46 (a)		1,560,319		1,210,013
Countrywide Reperforming Loan REMIC Trust 5.784%, 1M TSFR + 0.454%, 06/25/35 (144A) (a)		181,872		170,472
Cross Mortgage Trust 7.135%, 11/25/68 (144A) (l)		475,375		481,788
CSFB Mortgage-Backed Pass-Through Certificates 6.250%, 1M TSFR + 1.464%, 11/25/35 (a)		407,105		88,637
CSMC Trust 4.265%, 03/25/67 (144A) (a)		560,000		522,657
8.946%, 12/25/67 (144A) (a)		2,080,091		2,105,600
CSMC Trust Capital Certificates 2.436%, 02/25/61 (144A) (a)		1,651,406		1,595,034
6.500%, 10/27/37 (144A)		2,614,561		1,021,057
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust 5.784%, 1M TSFR + 0.454%, 08/25/47 (a)		268,590		238,041

BHFTII-27

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mortgage-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Collateralized Mortgage Obligations—(Continued)
GreenPoint Mortgage Funding Trust 7.089%, 12M MTA + 2.000%, 03/25/36 (a)		87,132	$	76,065
GS Mortgage-Backed Securities Corp. Trust 4.375%, 11/25/49 (144A) (a)		250,318		216,669
GSR Mortgage Loan Trust 6.000%, 07/25/37		359,019		231,587
HarborView Mortgage Loan Trust 5.851%, 1M TSFR + 0.524%, 12/19/36 (a)		1,080,635		865,184
Impac Secured Assets Trust 5.784%, 1M TSFR + 0.454%, 11/25/36 (a)		140,287		123,763
IndyMac INDX Mortgage Loan Trust 3.754%, 09/25/37 (a)		623,048		410,756
JP Morgan Alternative Loan Trust 4.839%, 05/25/37 (a)		125,596		109,603
5.864%, 1M TSFR + 0.534%, 03/25/37 (a)		615,804		576,471
JP Morgan Mortgage Trust 0.269%, 02/25/52 (144A) (a) (b)		8,575,474		123,811
0.500%, 02/25/52 (144A) (a) (b)		8,576,216		239,180
2.500%, 02/25/52 (144A) (a)		6,692,444		5,335,918
3.213%, 02/25/52 (144A) (a)		123,692		50,221
3.269%, 02/25/52 (144A) (a)		953,042		774,139
6.500%, 08/25/36		177,629		56,944
Legacy Mortgage Asset Trust 1.750%, 04/25/61 (144A) (l)		2,691,231		2,608,056
3.375%, 02/25/59 (144A) (a)		753,525		714,902
5.734%, 01/25/60 (144A) (l)		23,310		23,298
MASTR Resecuritization Trust 7.189%, 08/25/37 (144A) (a)		215,410		97,987
Merrill Lynch Mortgage Investors Trust 5.350%, 05/25/36 (a)		387,340		259,415
5.764%, 1M TSFR + 0.434%, 09/25/37 (a)		105,232		56,209
MFA Trust 3.514%, 04/25/65 (144A) (a)		540,000		417,839
Morgan Stanley Resecuritization Trust 4.380%, 12M MTA + 0.710%, 12/27/46 (144A) (a)		3,598,547		3,019,470
Mortgage Loan Resecuritization Trust 5.780%, 04/16/36 (144A) (a)		690,243		661,474
New Residential Mortgage Loan Trust 4.250%, 12/25/57 (144A) (a)		187,528		179,667
Nomura Asset Acceptance Corp. Alternative Loan Trust 7.134%, 05/25/36 (l)		215,453		38,776
PRPM LLC 5.610%, 10/25/25 (144A) (l)		904,385		902,344
RCO VII Mortgage LLC 7.021%, 01/25/29 (144A) (l)		1,139,050		1,135,645
Residential Accredit Loans, Inc. Trust 5.804%, 1M TSFR + 0.474%, 12/25/36 (a)		404,641		344,233
Residential Asset Securitization Trust 1.006%, -1x 1M TSFR + 6.336%, 09/25/37 (a) (b)		11,326,884		1,227,935
5.994%, 1M TSFR + 0.664%, 09/25/37 (a)		11,326,884		3,253,955
6.250%, 12/25/36		3,603,353		2,548,773
RFMSI Trust 5.435%, 08/25/36 (a)		765,931		531,647
RMF Buyout Issuance Trust 3.690%, 11/25/31 (144A) (a)		509,000		444,510

Collateralized Mortgage Obligations—(Continued)
Saluda Grade Alternative Mortgage Trust 7.762%, 04/25/30 (144A) (l)		825,000		825,574
Sequoia Mortgage Trust 3.955%, 07/20/37 (a)		147,069		106,909
Structured Adjustable Rate Mortgage Loan Trust 3.958%, 04/25/36 (a)		165,744		91,007
4.353%, 04/25/47 (a)		509,889		233,836
Structured Asset Mortgage Investments II Trust 5.824%, 1M TSFR + 0.494%, 06/25/36 (a)		743,086		621,295
5.864%, 1M TSFR + 0.534%, 05/25/46 (a)		135,255		92,491
5.904%, 1M TSFR + 0.574%, 02/25/36 (a)		500,503		421,174
Visio Trust 3.910%, 11/25/54 (144A) (a)		169,000		128,231
Vista Point Securitization Trust 4.900%, 04/25/65 (144A) (a)		100,000		89,019
Voyager OPTONE Delaware Trust 5.930%, 02/25/38 (144A) (a) (b)		2,917,583		660,570
WaMu Mortgage Pass-Through Certificates Trust 3.393%, 04/25/37 (a)		3,987,274		3,420,556
5.839%, 12M MTA + 0.750%, 06/25/47 (a)		1,334,731		1,063,710
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust 4.148%, 10/25/36 (l)		886,431		302,074
5.789%, 12M MTA + 0.700%, 01/25/47 (a)		2,152,570		1,725,083
5.964%, 1M TSFR + 0.634%, 12/25/35 (a)		1,832,673		1,524,033
6.064%, 1M TSFR + 0.734%, 06/25/37 (a)		134,136		124,555

				100,849,826


Commercial Mortgage-Backed Securities—4.9%
1211 Avenue of the Americas Trust 4.142%, 08/10/35 (144A) (a)		230,000		202,727
245 Park Avenue Trust 0.149%, 06/05/37 (144A) (a) (b)		5,000,000		26,025
3.657%, 06/05/37 (144A) (a)		207,000		169,387
280 Park Avenue Mortgage Trust 7.155%, 1M TSFR + 1.836%, 09/15/34 (144A) (a)		500,000		461,886
7.737%, 1M TSFR + 2.419%, 09/15/34 (144A) (a)		2,998,451		2,754,893
ALEN Mortgage Trust 8.541%, 1M TSFR + 3.214%, 04/15/34 (144A) (a)		453,000		288,340
Arbor Multifamily Mortgage Securities Trust 1.750%, 05/15/53 (144A)		126,000		81,873
Ashford Hospitality Trust 7.598%, 1M TSFR + 2.272%, 04/15/35 (144A) (a)		138,000		133,976
Atrium Hotel Portfolio Trust 7.573%, 1M TSFR + 2.247%, 12/15/36 (144A) (a)		1,041,000		955,720
BAMLL Commercial Mortgage Securities Trust 3.596%, 04/14/33 (144A) (a)		150,000		139,639
6.773%, 1M TSFR + 1.447%, 11/15/33 (144A) (a)		510,000		506,474
6.873%, 1M TSFR + 1.547%, 11/15/32 (144A) (a)		300,000		297,205
7.373%, 1M TSFR + 2.047%, 11/15/32 (144A) (a)		630,000		624,200
BANK 0.366%, 09/15/62 (a) (b)		8,619,000		152,570
Bank of America Merrill Lynch Commercial Mortgage Trust 0.584%, 02/15/50 (a) (b)		4,070,000		62,179
1.241%, 02/15/50 (144A) (a) (b)		2,000,000		60,701

BHFTII-28

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mortgage-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Commercial Mortgage-Backed Securities—(Continued)
Bayview Commercial Asset Trust 5.819%, 1M TSFR + 0.489%, 10/25/36 (144A) (a)		73,493	$	69,720
5.849%, 1M TSFR + 0.519%, 03/25/37 (144A) (a)		108,786		101,262
5.894%, 1M TSFR + 0.564%, 01/25/36 (144A) (a)		54,850		50,875
5.894%, 1M TSFR + 0.564%, 10/25/36 (144A) (a)		74,782		71,106
5.984%, 1M TSFR + 0.654%, 04/25/36 (144A) (a)		62,243		57,322
6.119%, 1M TSFR + 0.789%, 01/25/36 (144A) (a)		40,833		38,356
6.944%, 1M TSFR + 1.614%, 12/25/37 (144A) (a)		916,965		790,428
BB-UBS Trust 0.596%, 11/05/36 (144A) (a) (b)		85,480,000		191,535
4.026%, 11/05/36 (144A) (a)		330,000		291,912
BBCMS Mortgage Trust 6.245%, 1M TSFR + 0.919%, 03/15/37 (144A) (a)		1,770,000		1,699,352
Beast Mortgage Trust 6.190%, 1M TSFR + 0.864%, 04/15/36 (144A) (a)		5,302,942		5,263,170
6.540%, 1M TSFR + 1.214%, 04/15/36 (144A) (a)		582,359		570,922
6.790%, 1M TSFR + 1.464%, 04/15/36 (144A) (a)		724,093		709,914
7.040%, 1M TSFR + 1.714%, 04/15/36 (144A) (a)		672,027		653,992
7.540%, 1M TSFR + 2.214%, 04/15/36 (144A) (a)		567,897		545,614
8.340%, 1M TSFR + 3.014%, 04/15/36 (144A) (a)		555,363		534,539
9.240%, 1M TSFR + 3.914%, 04/15/36 (144A) (a)		750,125		711,990
10.342%, 1M TSFR + 5.017%, 04/15/36 (144A) (a)		535,115		506,837
Benchmark Mortgage Trust 1.016%, 03/15/52 (a) (b)		3,425,231		128,554
1.266%, 02/15/54 (a) (b)		5,079,370		299,648
BFLD Trust 9.141%, 1M TSFR + 3.814%, 10/15/35 (144A) (a)		663,000		72,664
BHMS Mortgage Trust 6.872%, 1M TSFR + 1.547%, 07/15/35 (144A) (a)		5,160,000		5,153,269
BPR Trust 9.041%, 1M TSFR + 3.714%, 09/15/38 (144A) (a)		492,000		485,860
BWAY Mortgage Trust 3.446%, 03/10/33 (144A)		1,495,000		1,318,666
3.454%, 03/10/33 (144A)		1,206,304		1,145,828
3.633%, 03/10/33 (144A)		600,000		522,196
BX Commercial Mortgage Trust 2.843%, 03/09/44 (144A) (a)		1,658,472		1,430,599
6.350%, 1M TSFR + 1.024%, 02/15/33 (144A) (a)		2,391,915		2,348,268
6.767%, 1M TSFR + 1.442%, 02/15/39 (144A) (a)		1,990,000		1,992,899
7.087%, 1M TSFR + 1.761%, 12/09/40 (144A) (a)		845,000		850,252
7.590%, 1M TSFR + 2.264%, 02/15/33 (144A) (a)		1,466,417		1,439,972
8.090%, 1M TSFR + 2.764%, 10/15/36 (144A) (a)		1,628,491		1,605,292
8.241%, 1M TSFR + 2.914%, 06/15/38 (144A) (a)		609,608		601,607
8.465%, 1M TSFR + 3.140%, 02/15/39 (144A) (a)		3,750,000		3,750,001
8.914%, 1M TSFR + 3.589%, 12/09/40 (144A) (a)		1,154,000		1,162,640
9.513%, 1M TSFR + 4.188%, 02/15/39 (144A) (a)		2,020,000		2,008,416
9.690%, 1M TSFR + 4.364%, 02/15/33 (144A) (a)		979,005		961,527
BX Trust
3.202%, 12/09/41 (144A)		4,738,000		4,216,518
3.944%, 12/09/41 (144A) (a)		2,772,000		2,423,885
6.175%, 1M TSFR + 0.850%, 01/15/39 (144A) (a)		1,260,000		1,248,975
6.339%, 1M TSFR + 1.014%, 10/15/36 (144A) (a)		3,857,000		3,818,430
7.335%, 1M TSFR + 2.010%, 10/15/36 (144A) (a)		344,000		337,120
7.340%, 1M TSFR + 2.090%, 03/15/26 (144A) (a)		530,000		529,760
7.490%, 1M TSFR + 2.165%, 08/15/39 (144A) (a)		749,193		751,066
7.690%, 1M TSFR + 2.364%, 01/15/34 (144A) (a)		214,553		211,871

Commercial Mortgage-Backed Securities—(Continued)
BX Trust
7.841%, 1M TSFR + 2.514%, 02/15/36 (144A) (a)		1,742,188		1,672,766
8.015%, 1M TSFR + 2.690%, 05/15/38 (144A) (a)		5,434,000		5,501,925
8.440%, 1M TSFR + 3.114%, 01/15/34 (144A) (a)		329,493		324,451
8.441%, 1M TSFR + 3.114%, 02/15/36 (144A) (a)		893,170		855,950
8.538%, 1M TSFR + 3.213%, 08/15/42 (144A) (a)		935,748		938,087
8.582%, 1M TSFR + 3.257%, 10/15/36 (144A) (a)		302,000		292,577
9.386%, 1M TSFR + 4.061%, 08/15/43 (144A) (a)		4,299,676		4,310,420
9.689%, 1M TSFR + 4.439%, 03/15/26 (144A) (a)		1,141,000		1,147,979
10.639%, 1M TSFR + 5.389%, 03/15/26 (144A) (a)		547,000		548,840
BXP Trust 2.776%, 01/15/44 (144A) (a)		327,000		210,273
3.552%, 08/13/37 (144A) (a)		760,000		598,019
Cassia SRL 6.443%, 3M EURIBOR + 2.500%, 05/22/34 (144A) (EUR) (a)		1,267,640		1,357,455
CD Mortgage Trust 3.631%, 02/10/50		350,000		323,208
3.956%, 08/15/50 (a)		363,000		329,642
CENT Trust 7.945%, 1M TSFR + 2.620%, 09/15/38 (144A) (a)		2,110,000		2,131,078
CFCRE Commercial Mortgage Trust 0.693%, 05/10/58 (a) (b)		2,370,000		30,105
CFK Trust 4.637%, 01/15/39 (144A) (a)		728,000		645,663
Citigroup Commercial Mortgage Trust 0.801%, 11/10/42 (144A) (a) (b)		7,730,000		331,707
Cold Storage Trust 6.333%, 1M TSFR + 1.014%, 11/15/37 (144A) (a)		2,948,972		2,942,521
8.198%, 1M TSFR + 2.880%, 11/15/37 (144A) (a)		1,582,615		1,579,647
COMM Mortgage Trust 0.060%, 02/10/35 (144A) (a) (b)		60,958,000		33,978
3.179%, 10/10/36 (144A) (a)		270,000		215,162
CRSO Trust 7.121%, 07/12/40		5,522,122		5,786,164
CSAIL Commercial Mortgage Trust 0.174%, 11/15/50 (a) (b)		3,940,000		35,549
0.535%, 09/15/52 (a) (b)		4,150,000		103,935
1.320%, 09/15/52 (a) (b)		2,997,395		154,240
1.541%, 06/15/52 (a) (b)		7,010,724		431,014
4.237%, 06/15/52 (a)		70,000		59,114
CSMC Trust 3.778%, 11/10/32 (144A) (a)		301,000		141,595
6.323%, 1M TSFR + 0.997%, 12/15/30 (144A) (a)		280,000		267,874
8.468%, 1M TSFR + 3.143%, 09/09/24 (144A) (a)		3,058,000		3,066,537
8.941%, 1M TSFR + 3.614%, 11/15/38 (144A) (a)		191,000		188,321
10.553%, 1M TSFR + 5.226%, 10/15/37 (144A) (a)		423,000		394,336
DBJPM Mortgage Trust
1.000%, 06/10/50 (a) (b)		2,060,000		53,428
3.276%, 05/10/49		240,000		229,282
DBUBS Mortgage Trust 3.530%, 10/10/34 (144A) (a)		1,257,563		1,005,735
ELP Commercial Mortgage Trust 8.557%, 1M TSFR + 3.230%, 11/15/38 (144A) (a)		411,663		396,898
Extended Stay America Trust
7.690%, 1M TSFR + 2.364%, 07/15/38 (144A) (a)		527,526		526,866

BHFTII-29

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mortgage-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Commercial Mortgage-Backed Securities—(Continued)
Extended Stay America Trust
8.290%, 1M TSFR + 2.964%, 07/15/38 (144A) (a)		1,097,107	$	1,095,393
9.140%, 1M TSFR + 3.814%, 07/15/38 (144A) (a)		4,736,759		4,730,838
GCT Commercial Mortgage Trust 7.791%, 1M TSFR + 2.464%, 02/15/38 (144A) (a)		100,000		18,580
GS Mortgage Securities Corp. Trust 2.856%, 05/10/34 (144A)		687,964		481,816
7.417%, 1M TSFR + 2.091%, 03/15/28 (144A) (a)		130,000		130,406
GS Mortgage Securities Corportation II 5.366%, 05/03/32 (144A)		840,000		824,638
GS Mortgage Securities Trust 1.711%, 12/12/53 (144A) (a) (b)		3,088,246		250,508
3.805%, 10/10/35 (144A) (a)		200,000		164,130
3.806%, 11/10/52 (a)		60,000		50,434
4.401%, 07/10/48 (a)		110,000		103,235
4.529%, 04/10/47 (a)		50,000		48,630
HMH Trust 3.062%, 07/05/31 (144A)		1,210,000		1,032,646
HONO Mortgage Trust 8.791%, 1M TSFR + 3.464%, 10/15/36 (144A) (a)		287,000		267,953
9.841%, 1M TSFR + 4.514%, 10/15/36 (144A) (a)		263,000		241,742
Hudson Yards Mortgage Trust 2.943%, 12/10/41 (144A) (a)		662,050		483,337
IMT Trust 3.478%, 06/15/34 (144A)		540,000		535,292
3.497%, 06/15/34 (144A) (a)		570,000		563,287
INTOWN Mortgage Trust 7.814%, 1M TSFR + 2.489%, 08/15/39 (144A) (a)		1,100,000		1,105,500
JP Morgan Chase Commercial Mortgage Securities Trust 0.461%, 04/15/46 (a) (b)		4,900,000		251
0.750%, 08/15/49 (144A) (a) (b)		5,300,000		79,396
6.582%, 1M TSFR + 1.257%, 06/15/35 (144A) (a)		310,107		289,076
7.141%, 1M TSFR + 1.814%, 04/15/38 (144A) (a)		787,000		781,589
7.533%, 1M TSFR + 2.207%, 07/15/36 (144A) (a)		570,000		550,432
7.891%, 1M TSFR + 2.564%, 04/15/38 (144A) (a)		1,030,000		1,019,224
8.391%, 1M TSFR + 3.064%, 04/15/38 (144A) (a)		450,000		445,159
8.461%, 1M TSFR + 3.134%, 10/15/33 (144A) (a)		180,000		139,089
8.865%, 1M TSFR + 3.540%, 04/15/37 (144A) (a)		899,153		728,485
JPMBB Commercial Mortgage Securities Trust 0.541%, 05/15/48 (a) (b)		533,125		2,258
0.770%, 09/15/47 (a) (b)		998,060		244
4.136%, 12/15/48 (144A) (a)		300,000		266,167
JPMDB Commercial Mortgage Securities Trust 0.750%, 12/15/49 (144A) (a) (b)		2,067,000		33,247
KSL Commercial Mortgage Trust 7.616%, 1M TSFR + 2.290%, 12/15/36 (144A) (a)		745,000		749,423
9.613%, 1M TSFR + 4.287%, 12/15/36 (144A) (a)		2,340,000		2,351,697
Lehman Brothers Small Balance Commercial Mortgage Trust 5.894%, 1M TSFR + 0.564%, 09/25/36 (144A) (a)		189,148		179,573
LSTAR Commercial Mortgage Trust 0.827%, 03/10/50 (144A) (a) (b)		605,246		9,037
LUXE Trust 8.195%, 1M TSFR + 2.864%, 10/15/38 (144A) (a)		100,000		100,000
MCR Mortgage Trust 9.980%, 1M TSFR + 4.654%, 02/15/37 (144A) (a)		435,000		430,361

Commercial Mortgage-Backed Securities—(Continued)
Med Trust 9.440%, 1M TSFR + 4.114%, 11/15/38 (144A) (a)		388,933		388,204
10.690%, 1M TSFR + 5.364%, 11/15/38 (144A) (a)		3,441,218		3,434,768
MF1 Trust 9.545%, 1M TSFR + 4.220%, 12/15/34 (144A) (a)		163,000		152,896
MFT Mortgage Trust 3.477%, 02/10/42 (144A) (a)		350,781		211,819
MHC Commercial Mortgage Trust 7.540%, 1M TSFR + 2.215%, 04/15/38 (144A) (a)		631,674		626,937
8.040%, 1M TSFR + 2.715%, 04/15/38 (144A) (a)		161,903		160,285
Morgan Stanley Bank of America Merrill Lynch Trust 1.182%, 12/15/47 (144A) (a) (b)		1,810,000		15,351
Morgan Stanley Capital I Trust 1.002%, 03/15/52 (a) (b)		2,319,023		89,473
2.145%, 06/15/50 (144A) (a) (b)		1,190,000		66,791
8.169%, 1M TSFR + 2.851%, 07/15/35 (144A) (a)		10,000		9,689
MSWF Commercial Mortgage Trust 0.907%, 12/15/56 (a) (b)		8,248,177		546,085
6.014%, 12/15/56 (a)		114,003		121,960
Natixis Commercial Mortgage Securities Trust 4.404%, 06/17/38 (144A)		265,000		251,910
8.500%, 06/15/35 (144A) (a)		34,769		32,150
NJ Trust 6.481%, 01/06/29 (144A) (a)		350,000		365,729
Olympic Tower Mortgage Trust 0.379%, 05/10/39 (144A) (a) (b)		13,300,000		139,457
3.945%, 05/10/39 (144A) (a)		1,049,000		666,464
One Bryant Park Trust 2.516%, 09/15/54 (144A)		128,000		109,306
One Market Plaza Trust
Zero Coupon, 02/10/32 (144A) (a) (b)		17,538,712		175
0.115%, 02/10/32 (144A) (a) (b)		3,507,742		3,659
One New York Plaza Trust 8.191%, 1M TSFR + 2.864%, 01/15/36 (144A) (a)		160,000		130,634
SREIT Trust 8.058%, 1M TSFR + 2.733%, 11/15/36 (144A) (a)		672,700		660,507
8.065%, 1M TSFR + 2.739%, 11/15/38 (144A) (a)		851,608		845,845
TYSN Mortgage Trust 6.580%, 12/10/33 (144A) (a)		320,000		334,413
UBS Commercial Mortgage Trust 1.003%, 12/15/52 (a) (b)		7,054,328		268,747
1.443%, 10/15/52 (a) (b)		6,617,863		405,627
Velocity Commercial Capital Loan Trust 2.520%, 12/26/51 (144A) (a)		2,422,808		2,038,377
2.980%, 02/25/50 (144A) (a)		118,370		98,392
4.240%, 11/25/47 (144A) (a)		66,639		58,004
4.480%, 12/26/51 (144A) (a)		271,935		203,748
5.000%, 11/25/47 (144A) (a)		39,173		32,890
Wells Fargo Commercial Mortgage Trust
1.011%, 12/15/48 (a) (b)		883,182		10,886
1.245%, 08/15/49 (144A) (a) (b)		1,430,000		34,326
1.406%, 05/15/52 (a) (b)		4,680,251		239,308
3.580%, 02/15/48		1,342,000		1,305,254
3.749%, 06/15/36 (144A) (a)		170,000		148,596
7.531%, 1M TSFR + 2.204%, 02/15/37 (144A) (a)		300,000		298,509

BHFTII-30

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mortgage-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Commercial Mortgage-Backed Securities—(Continued)
Wells Fargo Commercial Mortgage Trust
8.181%, 1M TSFR + 2.854%, 02/15/37 (144A) (a)		260,000	$	258,061

				134,803,070

Total Mortgage-Backed Securities (Cost $259,331,401)				235,652,896


Foreign Government—3.1%

Banks—0.0%
Bank Gospodarstwa Krajowego 6.250%, 10/31/28 (144A)		200,000		208,000
Corp. Financiera de Desarrollo SA 4.750%, 07/15/25		200,000		197,352

				405,352


Sovereign—3.1%
Argentina Republic Government International Bonds 1.000%, 07/09/29		160,000		86,128
3.625%, 07/09/35 (l)		307,500		127,639
4.250%, 01/09/38 (l)		193,000		89,512
Benin Government International Bond 7.960%, 02/13/38 (144A)		200,000		194,494
Brazil Government International Bonds 6.125%, 03/15/34		7,110,000		7,031,487
7.125%, 05/13/54		560,000		563,668
Brazil Letras do Tesouro Nacional
Zero Coupon, 10/01/24 (BRL)		4,190,000		796,081
Chile Government International Bond 4.340%, 03/07/42 (h)		200,000		174,245
Colombia Government International Bonds 3.875%, 04/25/27		200,000		187,901
8.000%, 04/20/33		115,000		121,409
Colombia TES 5.750%, 11/03/27 (COP)		4,262,200,000		985,584
6.000%, 04/28/28 (COP)		4,106,500,000		944,677
7.500%, 08/26/26 (COP)		6,791,600,000		1,695,616
13.250%, 02/09/33 (COP)		1,624,600,000		494,411
Dominican Republic International Bonds 4.500%, 01/30/30 (144A)		150,000		136,489
5.950%, 01/25/27		100,000		99,495
6.875%, 01/29/26		100,000		100,876
Egypt Government International Bonds 3.875%, 02/16/26		452,000		415,284
4.750%, 04/16/26 (EUR)		378,000		382,317
7.625%, 05/29/32		200,000		170,120
8.500%, 01/31/47		261,000		206,717
European Union 2.500%, 10/04/52 (EUR)		2,020,000		1,877,595
3.000%, 03/04/53 (EUR)		5,755,000		5,912,362
French Republic Government Bond OAT 3.000%, 05/25/54 (144A) (EUR)		9,373,660		9,571,569
Guatemala Government Bonds 4.875%, 02/13/28		558,000		537,354
5.250%, 08/10/29 (144A)		73,000		70,549
6.600%, 06/13/36 (144A)		200,000		204,017

Sovereign—(Continued)
Hungary Government International Bonds 4.000%, 07/25/29 (EUR)		820,000		881,476
5.375%, 09/12/33 (EUR)		50,000		56,846
Indonesia Government International Bonds 2.850%, 02/14/30		662,000		590,007
3.050%, 03/12/51		1,965,000		1,387,428
6.750%, 01/15/44		200,000		233,701
Indonesia Treasury Bonds 5.500%, 04/15/26 (IDR)		3,382,000,000		209,761
6.875%, 04/15/29 (IDR)		7,538,000,000		480,050
7.000%, 05/15/27 (IDR)		15,307,000,000		978,567
8.375%, 09/15/26 (IDR)		5,620,000,000		369,474
Israel Government International Bond 5.750%, 03/12/54		1,440,000		1,378,397
Ivory Coast Government International Bonds 4.875%, 01/30/32 (EUR)		100,000		92,781
5.250%, 03/22/30 (EUR)		202,000		202,536
8.250%, 01/30/37 (144A)		200,000		200,400
Kingdom of Belgium Government Bond 3.300%, 06/22/54 (144A) (EUR)		9,232,320		9,873,235
Mexico Bonos 8.500%, 03/01/29 (MXN)		77,570,000		4,511,980
8.500%, 05/31/29 (MXN)		138,097,000		8,035,452
8.500%, 11/18/38 (MXN)		13,835,400		773,116
Mexico Government International Bonds 2.659%, 05/24/31		2,305,000		1,922,854
4.500%, 01/31/50 (h)		4,504,000		3,541,789
Morocco Government International Bond 6.500%, 09/08/33 (144A)		200,000		206,486
Nigeria Government International Bonds 7.143%, 02/23/30		229,000		207,698
7.625%, 11/28/47		200,000		154,860
Oman Government International Bond 6.500%, 03/08/47		200,000		201,924
Panama Government International Bonds 3.160%, 01/23/30		398,000		330,345
3.875%, 03/17/28		1,279,000		1,166,928
4.500%, 04/01/56		1,811,000		1,178,020
6.400%, 02/14/35		451,000		425,441
6.853%, 03/28/54		200,000		181,375
7.500%, 03/01/31		200,000		207,308
8.000%, 03/01/38		200,000		209,522
Peru Government International Bonds 2.783%, 01/23/31		21,000		17,967
3.550%, 03/10/51 (h)		1,587,000		1,146,608
5.940%, 02/12/29 (PEN)		1,852,000		494,950
6.350%, 08/12/28 (PEN)		1,996,000		549,433
6.950%, 08/12/31 (PEN)		4,140,000		1,117,937
Philippines Government International Bonds 3.000%, 02/01/28 (h)		1,834,000		1,708,573
3.200%, 07/06/46		2,044,000		1,461,464
Republic of Kenya Government International Bond 9.750%, 02/16/31 (144A)		200,000		204,750
Republic of Poland Government Bond 2.750%, 10/25/29 (PLN)		5,693,000		1,256,191

BHFTII-31

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Foreign Government—(Continued)


Security Description	Principal Amount*		Value

Sovereign—(Continued)
Republic of South Africa Government Bond 7.000%, 02/28/31 (ZAR)		25,715,700	$	1,093,392
Republic of South Africa Government International Bond 5.000%, 10/12/46		200,000		134,550
Romania Government International Bonds 2.124%, 07/16/31 (EUR)		37,000		32,561
2.125%, 03/07/28 (EUR)		209,000		206,990
2.500%, 02/08/30 (EUR)		31,000		29,495
2.875%, 03/11/29 (EUR)		29,000		28,842
5.250%, 11/25/27 (144A)		14,000		13,784
Russia Federal Bond - OFZ 6.100%, 07/18/35 (RUB) (n)		59,043,000		287,641
Saudi Government International Bond 4.500%, 04/17/30		200,000		195,774
Ukraine Government International Bonds 4.375%, 01/27/32 (EUR) (n)		223,000		64,356
6.876%, 05/21/31 (n)		200,000		57,920
7.253%, 03/15/35 (n)		442,000		126,263
7.750%, 09/01/28 (n)		211,000		68,459
7.750%, 09/01/29 (n)		294,000		95,256
7.750%, 08/01/41 (a) (n)		397,000		219,262
Uruguay Government International Bonds 4.375%, 10/27/27		1,266,587		1,253,897
5.100%, 06/18/50		1,118,733		1,082,733
5.750%, 10/28/34		64,385		67,894

				86,384,295

Total Foreign Government (Cost $90,421,780)				86,789,647


Municipals—0.7%
American Municipal Power, Inc. 8.084%, 02/15/50		510,000		675,985
Bay Area Toll Authority 7.043%, 04/01/50		1,215,000		1,476,625
City of San Antonio Electric & Gas Systems Revenue 5.808%, 02/01/41		875,000		919,489
Los Angeles Community College District, General Obligation Unlimited 6.600%, 08/01/42		785,000		886,422
Los Angeles Unified School District, General Obligation Unlimited 6.758%, 07/01/34		2,020,000		2,228,846
Metropolitan Transportation Authority 6.668%, 11/15/39		170,000		187,000
6.814%, 11/15/40		330,000		366,769
Municipal Electric Authority of Georgia 6.637%, 04/01/57		455,000		524,098
New Jersey Turnpike Authority 7.414%, 01/01/40		492,000		586,732
New York City Municipal Water Finance Authority 5.882%, 06/15/44		270,000		282,683
New York State Dormitory Authority 5.389%, 03/15/40		355,000		351,377
Port Authority of New York & New Jersey 4.960%, 08/01/46		1,350,000		1,290,179
State of California, General Obligation Unlimited 4.600%, 04/01/38		3,765,000		3,635,397
7.550%, 04/01/39		780,000		954,985
State of Illinois, General Obligation Unlimited 5.100%, 06/01/33		3,010,000		2,988,091
State of Texas, General Obligation Unlimited 5.517%, 04/01/39		820,000		849,725
University of California 4.858%, 05/15/2112		239,000		222,211

Total Municipals (Cost $20,616,599)				18,426,614


Floating Rate Loans (o)—0.6%

Agriculture—0.0%
Hydrofarm Holdings LLC
2021 Term Loan, 10.829%, 1M TSFR + 5.500%, 10/25/28		366,370		302,256


Apparel—0.0%
Fanatics Commerce Intermediate Holdco LLC Term Loan B, 8.691%, 1M TSFR + 3.250%, 11/24/28		110,431		110,344


Auto Parts & Equipment—0.0%
Emerald Technologies (U.S.) Acquisitionco, Inc Term Loan, 11.743%, 3M TSFR + 6.250%, 12/29/27		263,415		242,342


Beverages—0.0%
City Brewing Co. LLC
Closing Date Term Loan, 9.078%, 3M TSFR + 3.500%, 04/05/28		342,225		268,647
Naked Juice LLC
2nd Lien Term Loan, 11.448%, 3M TSFR + 6.000%, 01/24/30		75,000		61,281
Triton Water Holdings, Inc. Term Loan, 8.860%, 3M TSFR + 3.250%, 03/31/28		165,840		164,285

				494,213


Chemicals—0.0%
Eastman Chemical Co.
2021 Term Loan B, 10.821%, 3M TSFR + 5.250%, 11/01/28		393,960		385,835
SCIH Salt Holdings, Inc.
2021 Incremental Term Loan B, 9.329%, 1M TSFR + 4.000%, 03/16/27		293,102		293,972

				679,807


Commercial Services—0.1%
Allied Universal Holdco LLC
2021 USD Incremental Term Loan B, 9.180%, 1M TSFR + 3.750%, 05/12/28		603,525		603,315

BHFTII-32

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Floating Rate Loans (o)—(Continued)


Security Description	Principal Amount*		Value

Commercial Services—(Continued)
American Auto Auction Group LLC
2021 Term Loan B, 10.459%, 3M TSFR + 5.000%, 12/30/27		249,120	$	248,186
Digital Room Holdings, Inc.
2021 Term Loan, 10.676%, 1M TSFR + 5.250%, 12/21/28		506,660		475,205
Interface Security Systems LLC Term Loan, 12.427%, 1M TSFR + 7.000%, 08/07/24 (i) (j) (k)		1,628,491		1,009,665
Signal Parent, Inc. Term Loan B, 8.926%, 1M TSFR + 3.500%, 04/03/28		416,928		392,955
Vaco Holdings LLC
2022 Term Loan, 10.434%, 3M TSFR + 5.000%, 01/21/29		273,252		270,861

				3,000,187


Computers—0.1%
Alorica, Inc.
2022 Term Loan, 12.205%, 1M TSFR + 6.875%, 12/21/27 † (j) (k)		814,553		794,189
Coreweave Compute Acquisition Co. II LLC
Delayed Draw Term Loan, 13.098% - 14.080%, 3M TSFR + 8.750%, 06/30/28 † (j) (k) (p)		2,512,000		2,496,426

				3,290,615


Cosmetics/Personal Care—0.0%
Conair Holdings LLC Term Loan B, 9.191%, 1M TSFR + 3.750%, 05/17/28		94,379		93,766
Euro Parfums Fze Term Loan B, 12.070%, 3M TSFR + 6.750%, 06/23/28 (j) (k)		101,000		99,485

				193,251


Engineering & Construction—0.1%
Orion Group Holdco LLC
2022 1st Amendment Term Loan, 12.110%, 3M TSFR + 6.500%, 03/19/27 † (j) (k)		35,383		35,383
2022 First A&R Amendment Incremental DDTL, 12.110%, 3M TSFR + 6.500%, 03/19/27 † (j) (k)		158,641		158,641
2023 Delayed Draw Term Loan, 03/19/27 † (j) (k) (q)		351,054		348,877
2023 Term Loan B, 11.860%, 3M TSFR + 6.250%, 03/19/27 † (j) (k)		186,199		185,045
2024 Incremental Delayed Draw Term Loan, 03/19/27 (r)		187,229		187,229
Delayed Draw Term Loan, 11.610%, 3M TSFR + 6.000%, 03/19/27 † (j) (k)		59,924		59,175
First Lien Delayed Draw Term Loan, 11.610%, 3M TSFR + 6.000%, 03/19/27 † (j) (k)		354,597		354,597
First Lien Term Loan, 11.610%, 3M TSFR + 6.000%, 03/19/27 † (j) (k)		30,333		30,333
Term Loan, 11.610%, 3M TSFR + 6.000%, 03/19/27 † (j) (k)		5,986		5,911

				1,365,191


Entertainment—0.1%
Bally’s Corp.
2021 Term Loan B, 8.829%, 3M TSFR + 3.250%, 10/02/28		1,307,947		1,231,241
ECL Entertainment LLC
2023 Term Loan B, 10.080%, 1M TSFR + 4.750%, 08/31/30		735,305		739,786
J&J Ventures Gaming LLC Term Loan, 9.445%, 1M TSFR + 4.000%, 04/26/28		315,774		313,438
Maverick Gaming LLC Term Loan B, 13.105%, 3M TSFR + 7.500%, 09/03/26		476,694		345,604

				2,630,069


Food—0.0%
BCPE North Star U.S. HoldCo 2, Inc. Term Loan, 9.441%, 1M TSFR + 4.000%, 06/09/28		782,702		733,298


Healthcare-Services—0.0%
Medical Solutions Holdings, Inc.
2021 2nd Lien Term Loan, 12.426%, 1M TSFR + 7.000%, 11/01/29		274,000		224,680


Household Products/Wares—0.0%
Kronos Acquisition Holdings, Inc.
2021 1st Lien Term Loan, 11.493%, 3M TSFR + 6.000%, 12/22/26		121,592		122,200


Housewares—0.0%
Springs Windows Fashions LLC
2021 Term Loan B, 9.445%, 1M TSFR + 4.000%, 10/06/28		336,140		310,029


Lodging—0.1%
Aimbridge Acquisition Co., Inc.
2019 Term Loan B, 9.195%, 1M TSFR + 3.750%, 02/02/26		367,534		356,968
2020 Incremental Term Loan B, 10.195%, 1M TSFR + 4.750%, 02/02/26		149,290		145,278
Spectacle Gary Holdings LLC
2021 Term Loan B, 9.748%, 3M TSFR + 4.250%, 12/11/28		1,346,012		1,329,607

				1,831,853


Media—0.0%
DirecTV Financing LLC Term Loan, 10.445%, 1M TSFR + 5.000%, 08/02/27		149,734		150,529
Gray Television, Inc.
2021 Term Loan D, 8.440%, 1M TSFR + 3.000%, 12/01/28		809		760

				151,289


Mining—0.0%
American Rock Salt Co. LLC
2021 Term Loan, 9.441%, 1M TSFR + 4.000%, 06/09/28		95,896		83,849

BHFTII-33

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Floating Rate Loans (o)—(Continued)


Security Description	Shares/ Principal Amount*		Value

Oil & Gas—0.0%
Ecopetrol SA
2023 Term Loan, 9.996%, 6M TSFR + 4.750%, 09/06/30 (j) (k)		350,000	$	360,500


Pipelines—0.0%
DT Midstream, Inc. Term Loan B, 7.441%, 1M TSFR + 2.000%, 06/26/28		129,511		130,058


Retail—0.0%
Park River Holdings, Inc. Term Loan, 8.843%, 3M TSFR + 3.250%, 12/28/27		88,857		88,375
WOOF Holdings, Inc.
1st Lien Term Loan, 9.321%, 3M TSFR + 3.750%, 12/21/27		139,965		111,972

				200,347


Software—0.0%
ConnectWise LLC
2021 Term Loan B, 9.110%, 3M TSFR + 3.500%, 09/29/28		81,238		81,314


Telecommunications—0.1%
Connect Finco SARL
2021 Term Loan B, 8.826%, 1M TSFR + 3.500%, 12/11/26		526,319		526,502
Level 3 Financing, Inc.
2024 Extended Term Loan B1, 11.806%, 1M TSFR + 6.560%, 04/15/30		100,366		99,989
2024 Extended Term Loan B2, 11.806%, 1M TSFR + 6.560%, 04/15/29		99,635		99,261
Lumen Technologies, Inc.
2024 Term Loan A, 06/01/28 (r)		13,538		11,575

				737,327

Total Floating Rate Loans (Cost $18,463,802)				17,275,019


Common Stocks—0.2%

Banks—0.0%
New York Community Bancorp, Inc.		6,800		21,896


Electrical Equipment—0.0%
Freewire Technologies, Inc. † (j) (k) (s)		25		101,500


Energy Equipment & Services—0.0%
Transocean Ltd. (h) (s)		83,817		526,371


Financial Services—0.0%
Mr. Cooper Group, Inc. (s)		2,550		198,773


Health Care Providers & Services—0.0%
HCA Healthcare, Inc.		576		192,113


Hotel & Resort REITs—0.0%
DiamondRock Hospitality Co. (h)		14,577		140,085
Park Hotels & Resorts, Inc.		7,811		136,615
Service Properties Trust		33,695		228,452
Sunstone Hotel Investors, Inc.		8,773		97,731

				602,883


Hotels, Restaurants & Leisure—0.1%
Boyd Gaming Corp.		1,711		115,185
Caesars Entertainment, Inc. (s)		10,800		472,392
Genius Sports Ltd. (h) (s)		118,626		677,354
Golden Entertainment, Inc. (h)		3,057		112,589

				1,377,520


Household Durables—0.0%
Landsea Homes Corp. † (s)		10,323		149,993
Smith Douglas Homes Corp. (h) (s)		6,956		206,593

				356,586


Machinery—0.0%
Palladyne AI Corp. (s)		1,162		2,103


Media—0.0%
Altice USA, Inc. - Class A (s)		55,667		145,291


Metals & Mining—0.0%
First Quantum Minerals Ltd.		1,150		12,362
U.S. Steel Corp. (h)		3,931		160,306

				172,668


Oil, Gas & Consumable Fuels—0.1%
California Resources Corp.		3,699		203,815
Cheniere Energy, Inc.		1,526		246,113
Chesapeake Energy Corp. (h)		1,311		116,456
Green Plains, Inc. (e) (s)		11,216		259,314
Marathon Petroleum Corp.		1,868		376,402
Valero Energy Corp. (h)		1,432		244,429

				1,446,529


Real Estate Management & Development—0.0%
Forestar Group, Inc. (s)		7,291		293,025


Wireless Telecommunication Services—0.0%
Digicel Holdings (Bermuda), Ltd - Class A † (s)		1,070		21

Total Common Stocks (Cost $5,227,578)				5,437,279


Preferred Stocks—0.2%

Home Builders—0.1%
Dream Finders Homes, Inc., 9.000% † (j) (k)		2,628		2,526,165

BHFTII-34

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Preferred Stocks—(Continued)


Security Description	Shares/ Principal Amount*		Value

IT Services—0.1%
Versa Networks, Inc. - Series E, 12.000% † (i) (j) (k)		678,151	$	2,427,781


Oil & Gas—0.0%
Insight M, Inc. - Series D † (j) (k) (s)		481,839		165,174


Software—0.0%
Lessen Holdings, Inc. † (j) (k) (s)		23,458		146,847

Total Preferred Stocks (Cost $5,048,898)				5,265,967


Convertible Bonds—0.0%

Energy-Alternate Sources—0.0%
Stem, Inc. 0.500%, 12/01/28		102,000		49,720


Media—0.0%
DISH Network Corp.
Zero Coupon, 12/15/25		320,000		233,600


Oil & Gas Services—0.0%
Insight M, Inc.
7.000%, 01/25/29 † (i) (j) (k)		164,500		167,510

Total Convertible Bonds (Cost $510,869)				450,830


Warrants—0.0%

Health Care Providers & Services—0.0%
Cano Health, Inc. (s)		29,597		3


Health Care Technology—0.0%
Pear Therapeutics, Inc. (s)		10,748		0


Hotels, Restaurants & Leisure—0.0%
Sonder Holdings, Inc. (j) (k) (s)		20,820		0


IT Services—0.0%
Versa Networks, Inc. Expires 10/07/32 † (j) (k) (s)		83,584		254,096


Machinery—0.0%
Palladyne AI Corp. (s)		102,425		5,224


Oil & Gas—0.0%
Insight M, Inc. † (j) (k) (s)		164,500		1


Software—0.0%
Aurora Innovation, Inc. (s)		2,636		765
Latch, Inc. Expires 06/04/26 (s)		6,439		65

				830


Specialty Retail—0.0%
EVgo, Inc. (s)		12,581		2,378

Total Warrants (Cost $328,904)				262,532


Escrow Shares—0.0%

Oil & Gas—0.0%
Chesapeake Energy Corp. (j) (k) (n)		100,000		0


Savings & Loans—0.0%
Washington Mutual, Inc. (j) (k)		3,780,000		0
Washington Mutual, Inc. (j) (k)		1,310,000		0
Washington Mutual, Inc. (j) (k)		2,440,000		0
Washington Mutual, Inc. (j) (k)		1,247,000		0

				0

Total Escrow Shares (Cost $0)				0


Short-Term Investment—2.3%

Repurchase Agreement—2.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $64,568,295; collateralized by U.S. Treasury Note at 0.625%, maturing 01/15/26, with a market value of $65,841,434.		64,550,365		64,550,365

Total Short-Term Investments (Cost $64,550,365)				64,550,365


Securities Lending Reinvestments (t)—1.4%

Certificate of Deposit—0.0%
Mitsubishi UFJ Trust & Banking Corp.
Zero Coupon, 05/14/24		1,000,000		993,030


Repurchase Agreements—1.1%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $5,902,680; collateralized by various Common Stock with an aggregate market value of $6,571,549.		5,900,000		5,900,000
Barclays Bank PLC
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $125,056; collateralized by various Common Stock with an aggregate market value of $139,286.		125,000		125,000
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $500,227; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $511,672.		500,000		500,000

BHFTII-35

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (t)—(Continued)


Security Description	Shares/ Principal Amount*		Value

Repurchase Agreements—(Continued)
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $5,970,383; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $6,087,102.		5,967,747	$	5,967,747
National Bank of Canada Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $5,005,299; collateralized by various Common Stock with an aggregate market value of $5,570,693.		5,000,000		5,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $5,202,375; collateralized by various Common Stock with an aggregate market value of $5,800,665.		5,200,000		5,200,000
Societe Generale Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $2,000,903; collateralized by various Common Stock with an aggregate market value of $2,226,255.		2,000,000		2,000,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $7,003,162; collateralized by various Common Stock with an aggregate market value of $7,701,163.		7,000,000		7,000,000

				31,692,747


Time Deposits—0.1%
Banco Santander SA (NY) 5.310%, 04/01/24		1,000,000		1,000,000
DZ Bank AG (NY) 5.290%, 04/01/24		1,000,000		1,000,000

				2,000,000


Mutual Funds—0.2%
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210%, 04/01/24 (u)		2,000,000		2,000,000
STIT-Government & Agency Portfolio, Institutional Class 5.230%, 04/01/24 (u)		2,000,000		2,000,000

				4,000,000

Total Securities Lending Reinvestments (Cost $38,686,267)				38,685,777

Total Purchased Options—0.0% (v) (Cost $745,447)				786,392
Total Investments—111.3% (Cost $3,258,330,583)				3,098,200,724
Unfunded Loan Commitments—(0.0)% (Cost $(83,083))				(83,083	)
Net Investments—111.3% (Cost $3,258,247,500)				3,098,117,642
Other assets and liabilities (net)—(11.3)%				(314,108,608	)

Net Assets—100.0%			$	2,784,009,034


*		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 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 at an acceptable price may be difficult. As of March 31, 2024, the market value of restricted securities was $24,040,707, which is 0.9% of net assets. See details shown in the Restricted Securities table that follows.
(a)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(b)		Interest only security.
(c)		TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(d)		Principal only security.
(e)		All or a portion of the security was pledged as collateral against open OTC swap contracts, open OTC option contracts and forward foreign currency exchange contracts. As of March 31, 2024, the market value of securities pledged was $1,182,110.
(f)		All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2024, the market value of securities pledged was $4,664,090.
(g)		Principal amount of security is adjusted for inflation.
(h)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $59,982,793 and the collateral received consisted of cash in the amount of $38,679,184 and non-cash collateral with a value of $23,254,693. 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.
(i)		Payment-in-kind security for which part of the income earned may be paid as additional principal.
(j)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(k)		Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent 1.3% of net assets.
(l)		Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(m)		Perpetual bond with no specified maturity date.
(n)		Non-income producing; security is in default and/or issuer is in bankruptcy.
(o)		Floating rate loans (“Senior Loans”) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will generally have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are determined periodically by reference to a base lending rate, plus a spread. These base rates are primarily the Secured Overnight Financing Rate and 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
(p)		The stated interest rates represent the range of rates at March 31, 2024 of the underlying contracts within the senior loan facility.
(q)		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 to fund these commitments at the borrower’s discretion.
(r)		This loan will settle after March 31, 2024, at which time the interest rate will be determined.

BHFTII-36

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)


(s)		Non-income producing security.
(t)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(u)		The rate shown represents the annualized seven-day yield as of March 31, 2024.
(v)		For a breakout of open positions, see details shown in the Purchased Options table that follows.
(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 March 31, 2024, the market value of 144A securities was $516,573,393, which is 18.6% of net assets.


Restricted Securities	Acquisition Date		Shares/ Principal Amount		Cost		Value
Alorica, Inc., 12.205%, 12/21/27		01/26/23		814,553	$	808,366	$	794,189
Coreweave Compute Acquisition Co. II LLC, 13.098%, 06/30/28		07/31/23-03/28/24		2,512,000		2,510,300		2,496,426
Digicel Holdings (Bermuda), Ltd - Class A		02/06/24		1,070		21		21
Dream Finders Homes, Inc.		09/29/21		2,628		2,601,720		2,526,165
FreeWire Technologies, Inc., 6.000%, 02/20/28		02/20/24		1,473,753		1,255,799		1,063,018
Freewire Technologies, Inc.		03/21/24		25		25		101,500
Homes by WestBay, LLC, 11.000%, 02/06/30		02/06/24		3,134,000		3,080,154		3,079,155
Insight M, Inc., 7.000%, 01/25/29		01/31/24		164,500		164,500		167,510
Insight M, Inc.		01/31/24		164,500		—		1
Insight M, Inc. - Series D		01/31/24		481,839		164,500		165,174
Kenbourne Invest SA, 6.875%, 11/26/24		11/21/19		310,000		310,000		147,932
Kenbourne Invest SA, 4.700%, 01/22/28		01/14/21		210,000		210,000		74,554
Knollwood CDO Ltd., 8.791%, 01/10/39		02/10/04		1,210,583		1,210,583		121
Landsea Homes Corp., 11.000%, 07/17/28		07/17/23		3,104,000		3,010,880		3,336,800
Landsea Homes Corp.		03/06/24		10,323		119,747		149,993
Lessen Holdings, Inc.		01/05/23		23,458		303,694		146,847
Lessen, Inc., 12.730%, 01/05/28		01/05/23-01/02/24		1,807,323		1,752,445		1,651,532
Mauser Packaging Solutions Holding Co., 7.875%, 08/15/26		01/30/23		736,000		736,000		749,801
Oceana Trust, 12.500%, 07/31/27		08/31/23		759,000		491,794		500,191
Oceana Trust, 12.500%, 07/31/26		08/31/23		456,000		295,465		299,024
Oceana Trust, 12.000%, 07/31/25		08/31/23		304,000		196,977		198,478
Orion Group Holdco LLC, 12.110%, 03/19/27		09/06/23		35,383		35,137		35,383
Orion Group Holdco LLC, 12.110%, 03/19/27		09/06/23		158,641		157,536		158,641
Orion Group Holdco LLC 03/19/27		09/06/23		351,054		351,054		348,877
Orion Group Holdco LLC, 11.860%, 03/19/27		09/06/23		186,199		183,856		185,045
Orion Group Holdco LLC, 11.610%, 03/19/27		09/06/23-02/21/24		59,924		59,570		59,175
Orion Group Holdco LLC, 11.610%, 03/19/27		09/06/23		354,597		352,221		354,597
Orion Group Holdco LLC, 11.610%, 03/19/27		09/06/23		30,333		30,159		30,333
Orion Group Holdco LLC, 11.610%, 03/19/27		09/06/23		5,986		5,951		5,911
Pioneer Midco, 10.500%, 11/18/30		01/27/23-12/29/23		1,150,573		1,132,618		1,146,316
Sonder Holdings, Inc., 13.660%, 01/19/27		01/19/22-12/29/23		1,570,676		1,545,883		1,386,121
Versa Networks, Inc. - Series E		10/14/22		678,151		1,978,985		2,427,781
Versa Networks, Inc. Expires 10/07/32		10/14/22		83,584		—		254,095

							$	24,040,707

TBA Forward Sale Commitments


Security Description	Interest Rate			Maturity		Face Amount			Cost			Value
Uniform Mortgage-Backed Security		1.500	%		TBA	$	(4,624,762	)	$	(3,736,821	)	$	(3,726,176	)
Uniform Mortgage-Backed Security		4.000	%		TBA		(16,157,300	)		(15,103,075	)		(14,996,062	)
Uniform Mortgage-Backed Security		6.000	%		TBA		(4,010,100	)		(4,048,588	)		(4,046,608	)
Uniform Mortgage-Backed Security		7.000	%		TBA		(596,900	)		(614,696	)		(614,672	)

Totals									$	(23,503,180	)	$	(23,383,518	)

BHFTII-37

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Forward Foreign Currency Exchange Contracts


Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	315,000	GSI		04/24/24		USD	207,402	$	(2,009	)
AUD	317,000	MSIP		04/24/24		USD	208,377		(1,680	)
BRL	4,442,945	DBAG		04/02/24		USD	891,000		(5,139	)
BRL	5,476,900	GSI		04/02/24		USD	1,096,213		(4,197	)
BRL	3,796,586	JPMC		04/02/24		USD	759,484		(2,499	)
BRL	1,042,492	UBSA		04/02/24		USD	209,000		(1,142	)
BRL	694,939	GSI		05/03/24		USD	139,000		(869	)
BRL	5,493,950	GSI		05/03/24		USD	1,100,000		(7,984	)
CLP	129,533,637	HSBC		04/24/24		USD	137,000		(4,884	)
CLP	201,204,000	MSIP		04/24/24		USD	207,000		(1,784	)
CLP	268,479,000	SCB		04/24/24		USD	276,000		(2,168	)
CNH	1,077,495	BNP		04/24/24		USD	149,784		(1,326	)
CNH	1,166,966	SCB		04/24/24		USD	162,216		(1,430	)
CNY	4,732,230	MSIP		01/27/25		USD	677,000		(1,719	)
COP	930,144,460	BBP		04/24/24		USD	238,000		1,713
COP	1,337,067,340	GSI		04/24/24		USD	347,000		(2,416	)
COP	539,459,000	SCB		04/24/24		USD	139,000		27
COP	1,923,651,360	BNP		08/15/24		USD	444,868		42,143
COP	748,086,640	BBP		08/15/24		USD	175,638		13,755
COP	2,771,224,000	MSIP		08/15/24		USD	641,042		60,549
COP	1,360,538,500	BNP		10/23/24		USD	326,939		14,037
COP	4,081,615,500	BNP		10/23/24		USD	981,316		41,613
COP	2,704,065,000	HSBC		02/24/25		USD	651,896		14,717
EUR	88,690	MSIP		04/05/24		USD	95,991		(300	)
EUR	108,430	MSIP		04/05/24		USD	117,355		(367	)
EUR	274,872	MSIP		04/05/24		USD	297,499		(930	)
EUR	208,743	BOA		04/22/24		USD	226,203		(831	)
EUR	204,747	CBNA		04/22/24		USD	221,867		(808	)
EUR	255,669	JPMC		04/22/24		USD	279,604		(3,567	)
EUR	150,300	NIP		04/22/24		USD	163,596		(1,322	)
EUR	257,000	BBP		04/24/24		USD	278,516		(1,019	)
GBP	220,000	MSIP		04/24/24		USD	278,054		(349	)
HUF	186,316,800	DBAG		04/24/24		USD	512,000		(2,323	)
IDR	12,226,289,250	CBNA		04/24/24		USD	777,000		(6,374	)
IDR	29,498,747,434	HSBC		06/20/24		USD	1,884,537		(27,955	)
INR	34,523,008	JPMC		04/24/24		USD	416,000		(2,300	)
JPY	31,117,482	BBP		04/24/24		USD	207,000		(750	)
JPY	61,856,699	MSIP		04/24/24		USD	417,000		(7,008	)
KRW	252,986,077	BNP		04/24/24		USD	190,000		(1,851	)
MXN	2,326,423	BBP		04/24/24		USD	139,000		463
MXN	21,325,919	MSIP		04/24/24		USD	1,265,000		13,432
MYR	2,646,177	BBP		04/24/24		USD	562,000		(2,090	)
PEN	198,495	DBAG		04/05/24		USD	53,352		7
PLN	5,288,997	HSBC		04/24/24		USD	1,333,000		(9,080	)
THB	11,528,715	BBP		04/24/24		USD	321,000		(4,474	)
TRY	1,635,700	BBP		12/04/24		USD	41,971		(3,646	)
TRY	3,287,757	BBP		12/04/24		USD	80,997		(3,964	)
TRY	1,619,343	GSI		12/04/24		USD	42,203		(4,262	)
TRY	1,635,700	GSI		12/04/24		USD	41,828		(3,504	)
TRY	3,271,400	GSI		12/04/24		USD	84,044		(7,394	)

BHFTII-38

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)


Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
TRY	4,907,100	GSI		12/04/24		USD	125,968	$	(10,994	)
TRY	9,177,000	BNP		12/06/24		USD	214,553		33
ZAR	20,979,601	BOA		04/05/24		USD	1,110,090		(2,572	)
ZAR	10,728,559	CBNA		04/24/24		USD	565,000		507

Contracts to Deliver
AUD	1,467,000	MSIP		06/20/24		USD	964,347		6,280
BRL	4,442,945	DBAG		04/02/24		USD	889,265		3,404
BRL	5,476,900	GSI		04/02/24		USD	1,100,000		7,983
BRL	3,796,586	JPMC		04/02/24		USD	759,895		2,909
BRL	3,796,586	SSBT		04/02/24		USD	724,844		(32,142	)
BRL	1,042,492	UBSA		04/02/24		USD	208,657		799
BRL	3,989,346	JPMC		10/02/24		USD	784,184		2,472
CAD	288,000	DBAG		06/20/24		USD	213,042		184
CHF	303,044	DBAG		04/24/24		USD	344,000		7,194
CHF	184,274	DBAG		04/24/24		USD	207,000		2,196
CLP	204,433,200	BNP		04/24/24		USD	207,000		(1,509	)
CNH	2,917,313	UBSA		04/24/24		USD	406,000		4,050
CNH	4,743,739	MSIP		01/27/25		USD	677,000		11,756
COP	5,442,154,000	JPMC		04/19/24		USD	1,385,777		(17,889	)
COP	5,442,962,000	SCB		04/22/24		USD	1,398,716		(4,478	)
COP	2,704,065,000	SCB		04/22/24		USD	694,882		(2,225	)
COP	2,716,178,150	BBP		04/24/24		USD	695,000		(5,004	)
COP	575,425,519	BBP		05/16/24		USD	146,766		(1,012	)
COP	553,700,546	CBNA		05/16/24		USD	140,419		(1,780	)
COP	15,074,787,387	MSIP		05/16/24		USD	3,828,129		(43,316	)
EUR	194,976	DBAG		04/05/24		USD	210,246		(120	)
EUR	108,430	DBAG		04/05/24		USD	118,149		1,161
EUR	79,897	DBAG		04/05/24		USD	87,057		854
EUR	38,315	DBAG		04/05/24		USD	41,749		410
EUR	27,675	MSIP		04/05/24		USD	30,171		311
EUR	22,700	MSIP		04/05/24		USD	24,761		269
EUR	809,324	DBAG		04/22/24		USD	882,369		8,569
EUR	809,000	DBAG		04/22/24		USD	882,016		8,565
EUR	127,791	TDB		04/22/24		USD	138,920		949
EUR	1,151,000	JPMC		04/24/24		USD	1,254,941		12,144
EUR	263,574	DBAG		05/16/24		USD	289,642		4,799
EUR	52,921	DBAG		05/16/24		USD	58,154		962
EUR	13,084,800	DBAG		06/20/24		USD	14,295,011		133,908
EUR	351,000	DBAG		06/20/24		USD	383,408		3,536
EUR	334,000	DBAG		06/20/24		USD	362,922		1,449
EUR	202,950	DBAG		06/20/24		USD	221,143		1,499
EUR	5,124,000	MSIP		06/20/24		USD	5,584,580		39,101
EUR	11,509,628	TDB		06/20/24		USD	12,575,545		119,182
EUR	7,673,077	TDB		06/20/24		USD	8,383,687		79,454
EUR	18,765,295	UBSA		06/20/24		USD	20,520,788		211,937
EUR	274,872	MSIP		07/02/24		USD	298,574		938
EUR	108,430	MSIP		07/02/24		USD	117,779		370
EUR	88,690	MSIP		07/02/24		USD	96,338		303
IDR	24,946,646,594	BOA		04/19/24		USD	1,600,580		27,949
IDR	7,847,849,490	BBP		04/19/24		USD	502,842		8,115
JPY	29,222,469	MSIP		04/24/24		USD	197,000		3,311
MXN	44,375,216	BBP		04/22/24		USD	2,576,225		(84,777	)

BHFTII-39

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)


Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
MXN	4,094,569	BBP		04/22/24		USD	237,712	$	(7,822	)
MXN	7,029,967	MSIP		04/24/24		USD	417,000		(4,428	)
NOK	2,206,739	BNP		04/24/24		USD	208,000		4,626
PEN	3,884,001	CBNA		04/05/24		USD	1,019,557		(24,530	)
PEN	815,335	CBNA		04/05/24		USD	213,971		(5,205	)
PEN	1,555,619	DBAG		04/24/24		USD	417,000		(1,000	)
PEN	2,064,229	BNP		05/16/24		USD	558,689		4,251
PEN	1,873,463	CBNA		05/16/24		USD	506,204		3,004
PLN	5,052,723	GSI		04/22/24		USD	1,277,514		12,716
SEK	2,941,407	HSBC		04/24/24		USD	278,000		2,974
TWD	16,877,070	CBNA		04/24/24		USD	534,000		5,210
ZAR	20,979,601	DBAG		04/05/24		USD	1,122,405		14,887
ZAR	3,923,437	BNP		04/24/24		USD	207,000		194
ZAR	20,979,601	BOA		07/02/24		USD	1,101,994		2,568

Cross Currency Contracts to Buy
AUD	159,195	MSIP		04/24/24		EUR	96,000		145
COP	1,193,496,000	MSIP		04/24/24		GBP	240,000		4,633
EUR	511,000	MSIP		04/24/24		GBP	437,391		(361	)
EUR	498,000	MSIP		04/24/24		PLN	2,151,750		(900	)
EUR	254,000	MSIP		04/24/24		MXN	4,668,393		(5,600	)
HUF	67,855,358	GSI		04/24/24		EUR	171,000		983
NOK	2,210,017	MSIP		04/24/24		EUR	191,000		(2,557	)
ZAR	5,591,118	MSIP		04/24/24		EUR	270,000		3,176

Net Unrealized Appreciation								$	583,700

Futures Contracts


Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
3 Month SONIA Futures		03/18/25		11			GBP	2,629,138		$	(22,809	)
U.S. Treasury Long Bond Futures		06/18/24		406			USD	48,897,625			802,566
U.S. Treasury Note 2 Year Futures		06/28/24		761			USD	155,612,610			(139,343	)
U.S. Treasury Note 5 Year Futures		06/28/24		1,918			USD	205,255,969			508,248
U.S. Treasury Ultra Long Bond Futures		06/18/24		45			USD	5,805,000			8,602

Futures Contracts—Short
Euro STOXX 50 Index Futures		06/21/24		(31	)		EUR	(1,563,950	)		(42,232	)
Euro STOXX Banks Index Futures		06/21/24		(169	)		EUR	(1,144,130	)		(95,107	)
Euro-Bobl Futures		06/06/24		(77	)		EUR	(9,105,250	)		(59,883	)
Euro-Bund Futures		06/06/24		(123	)		EUR	(16,405,740	)		(86,608	)
Russell 2000 Index E-Mini Futures		06/21/24		(24	)		USD	(2,575,080	)		(44,918	)
U.S. Treasury Note 10 Year Futures		06/18/24		(408	)		USD	(45,205,125	)		(36,927	)
U.S. Treasury Note Ultra 10 Year Futures		06/18/24		(956	)		USD	(109,566,563	)		(491,492	)

Net Unrealized Appreciation										$	300,097

BHFTII-40

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Purchased Options


Foreign Currency Options	Strike Price		Counterparty	Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
BRL Call/USD Put	BRL	4.950	GSI		04/18/24		483,000		USD	483,000	$	1,942	$	1,125	$	(817	)
BRL Call/USD Put	BRL	4.850	BOA		06/03/24		693,000		USD	693,000		1,556		881		(675	)
EUR Call/USD Put	USD	1.092	MSIP		04/02/24		635,000		EUR	635,000		1,463		1		(1,462	)
EUR Call/USD Put	USD	1.105	BBP		04/24/24		64,000		EUR	64,000		15,307		2,738		(12,569	)
EUR Call/USD Put	USD	1.110	BNP		05/29/24		954,000		EUR	954,000		4,544		1,144		(3,400	)
INR Call /CNH Put	INR	11.500	SCB		01/23/25		501,000		CNH	501,000		13,731		17,134		3,403
KRW Call/USD Put	KRW	1,330.000	BOA		04/03/24		483,000		USD	483,000		1,551		131		(1,420	)
PLN Call/EUR Put	PLN	4.310	BOA		08/13/24		388,000		EUR	388,000		1,105		1,578		473
TRY Call/USD Put	TRY	42.500	GSI		12/06/24		278,000		USD	278,000		14,793		14,793		—
USD Call/CLP Put	CLP	945.000	BOA		04/18/24		483,000		USD	483,000		7,113		18,202		11,089
USD Call/CNH Put	CNH	7.200	SCB		04/05/24		693,000		USD	693,000		3,378		6,107		2,729
USD Call/CNH Put	CNH	7.500	BBP		10/23/24		104,000		USD	104,000		10,140		11,593		1,453
USD Call/CNH Put	CNH	7.750	BOA		03/06/26		77,502,000		USD	77,502,000		565,764		678,142		112,378
USD Call/TRY Put	TRY	35.000	UBSA		11/21/24		35,000		USD	35,000		3,150		1,990		(1,160	)
USD Call/ZAR Put	ZAR	19.300	BOA		04/30/24		278,000		USD	278,000		2,590		2,590		—
USD Call/ZAR Put	ZAR	20.800	GSI		08/15/24		689,000		USD	689,000		11,640		7,849		(3,791	)

Totals											$	659,767	$	765,998	$	106,231


Interest Rate Swaptions	Strike Rate	Counterparty	Floating Rate Index	Pay/ Receive Floating Rate	Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
Call - OTC - 10 Yr. IRS	3.325%	BOA	SOFR	Pay		04/05/24		8,272,000		USD	8,272,000	$	9,842	$	—	$	(9,842	)
Call - OTC - 10 Yr. IRS	3.280%	BOA	SOFR	Pay		04/12/24		8,269,000		USD	8,269,000		11,064		24		(11,040	)
Call - OTC - 10 Yr. IRS	3.505%	DBAG	SOFR	Pay		04/19/24		8,175,000		USD	8,175,000		11,106		2,935		(8,171	)
Call - OTC - 10 Yr. IRS	3.434%	JPMC	SOFR	Pay		04/26/24		8,084,000		USD	8,084,000		6,123		3,195		(2,928	)
Put - OTC - 10 Yr. IRS	4.125%	BOA	SOFR	Receive		04/05/24		8,272,000		USD	8,272,000		9,557		342		(9,215	)
Put - OTC - 10 Yr. IRS	4.080%	BOA	SOFR	Receive		04/12/24		8,269,000		USD	8,269,000		14,664		4,535		(10,129	)
Put - OTC - 10 Yr. IRS	4.305%	DBAG	SOFR	Receive		04/19/24		8,175,000		USD	8,175,000		11,636		1,105		(10,531	)
Put - OTC - 10 Yr. IRS	4.234%	JPMC	SOFR	Receive		04/26/24		8,084,000		USD	8,084,000		8,228		4,321		(3,907	)

Totals												$	82,220	$	16,457	$	(65,763	)


Options on Exchange-Traded Futures Contracts	Strike Price			Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
Put - U.S. Treasury Note 2 Year Futures		USD	102.000		04/26/24		18		USD	36,000	$	3,460	$	3,937	$	477

Written Options


Foreign Currency Options	Strike Price		Counterparty	Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
AUD Call/EUR Put	AUD	1.655	BBP		04/24/24		(318,000	)		EUR	(318,000	)	$	(3,610	)	$	(1,865	)	$	1,745
CLP Call/USD Put	CLP	900.000	BOA		04/18/24		(483,000	)		USD	(483,000	)		(973	)		(13	)		960
CNH Call/INR Put	INR	12.500	SCB		01/23/25		(251,000	)		CNH	(251,000	)		(7,822	)		(4,891	)		2,931
EUR Call/AUD Put	AUD	1.655	BBP		04/24/24		(318,000	)		EUR	(318,000	)		(3,011	)		(1,994	)		1,017
MXN Call/USD Put	MXN	16.700	MSIP		04/29/24		(278,000	)		USD	(278,000	)		(2,080	)		(2,406	)		(326	)
TRY Call/USD Put	TRY	40.500	GSI		12/06/24		(417,000	)		USD	(417,000	)		(12,454	)		(12,454	)		—
USD Call/CLP Put	CLP	965.000	BOA		04/18/24		(689,000	)		USD	(689,000	)		(5,204	)		(14,978	)		(9,774	)
USD Call/KRW Put	KRW	1,360.000	BOA		04/18/24		(483,000	)		USD	(483,000	)		(1,038	)		(1,914	)		(876	)
USD Call/MXN Put	MXN	16.800	MSIP		04/29/24		(278,000	)		USD	(278,000	)		(2,080	)		(1,824	)		256
USD Call/ZAR Put	ZAR	19.750	BOA		04/30/24		(417,000	)		USD	(417,000	)		(1,588	)		(1,588	)		—
ZAR Call/USD Put	ZAR	18.200	GSI		08/15/24		(689,000	)		USD	(689,000	)		(9,187	)		(9,141	)		46

Totals													$	(49,047	)	$	(53,068	)	$	(4,021	)

BHFTII-41

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Written Options—(Continued)


Interest Rate Swaptions	Strike Rate	Counterparty	Floating Rate Index	Pay/ Receive Floating Rate	Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Call - OTC - 10 Yr. IRS	3.525%	BOA	SOFR	Receive		04/05/24		(8,272,000	)		USD	(8,272,000	)	$	(34,156	)	$	(71	)	$	34,085
Call - OTC - 10 Yr. IRS	3.480%	BOA	SOFR	Receive		04/12/24		(8,269,000	)		USD	(8,269,000	)		(33,292	)		(610	)		32,682
Call - OTC - 10 Yr. IRS	4.000%	BOA	SOFR	Receive		11/17/25		(147,347	)		USD	(147,347	)		(6,907	)		(7,825	)		(918	)
Call - OTC - 10 Yr. IRS	4.481%	JPMC	SOFR	Receive		10/20/25		(186,107	)		USD	(186,107	)		(9,538	)		(14,701	)		(5,163	)
Call - OTC - 10 Yr. IRS	3.634%	JPMC	SOFR	Receive		04/26/24		(8,084,000	)		USD	(8,084,000	)		(25,594	)		(16,398	)		9,196
Call - OTC - 10 Yr. IRS	3.956%	CBNA	SOFR	Receive		11/28/25		(348,520	)		USD	(348,520	)		(15,997	)		(17,855	)		(1,858	)
Call - OTC - 10 Yr. IRS	3.705%	DBAG	SOFR	Receive		04/19/24		(8,175,000	)		USD	(8,175,000	)		(33,175	)		(19,672	)		13,503
Call - OTC - 10 Yr. IRS	3.551%	GSI	SOFR	Receive		03/11/26		(764,901	)		USD	(764,901	)		(33,813	)		(27,575	)		6,238
Call - OTC - 10 Yr. IRS	3.965%	CBNA	SOFR	Receive		11/20/25		(591,358	)		USD	(591,358	)		(27,498	)		(30,438	)		(2,940	)
Call - OTC - 10 Yr. IRS	3.590%	DBAG	SOFR	Receive		03/06/26		(1,092,000	)		USD	(1,092,000	)		(49,706	)		(40,881	)		8,825
Call - OTC - 10 Yr. IRS	3.550%	CBNA	SOFR	Receive		03/09/26		(1,223,842	)		USD	(1,223,842	)		(54,094	)		(44,020	)		10,074
Call - OTC - 10 Yr. IRS	3.553%	MSIP	SOFR	Receive		03/06/26		(1,342,000	)		USD	(1,342,000	)		(60,222	)		(48,325	)		11,897
Call - OTC - 10 Yr. IRS	3.640%	BOA	SOFR	Receive		03/13/26		(1,278,014	)		USD	(1,278,014	)		(56,009	)		(50,575	)		5,434
Call - OTC - 10 Yr. IRS	3.537%	CBNA	SOFR	Receive		03/09/26		(1,530,243	)		USD	(1,530,243	)		(68,325	)		(54,288	)		14,037
Call - OTC - 10 Yr. IRS	3.403%	MSIP	SOFR	Receive		12/15/25		(1,903,164	)		USD	(1,903,164	)		(85,547	)		(54,719	)		30,828
Put - OTC - 10 Yr. IRS	4.481%	JPMC	SOFR	Pay		10/20/25		(186,107	)		USD	(186,107	)		(9,538	)		(3,159	)		6,379
Put - OTC - 10 Yr. IRS	4.000%	BOA	SOFR	Pay		11/17/25		(147,347	)		USD	(147,347	)		(6,907	)		(4,156	)		2,751
Put - OTC - 10 Yr. IRS	4.105%	DBAG	SOFR	Pay		04/19/24		(8,175,000	)		USD	(8,175,000	)		(31,361	)		(7,269	)		24,092
Put - OTC - 10 Yr. IRS	3.956%	CBNA	SOFR	Pay		11/28/25		(348,520	)		USD	(348,520	)		(15,997	)		(10,353	)		5,644
Put - OTC - 10 Yr. IRS	3.925%	BOA	SOFR	Pay		04/05/24		(8,272,000	)		USD	(8,272,000	)		(29,103	)		(12,366	)		16,737
Put - OTC - 10 Yr. IRS	3.965%	CBNA	SOFR	Pay		11/20/25		(591,358	)		USD	(591,358	)		(27,498	)		(17,302	)		10,196
Put - OTC - 10 Yr. IRS	4.034%	JPMC	SOFR	Pay		04/26/24		(8,084,000	)		USD	(8,084,000	)		(28,921	)		(18,436	)		10,485
Put - OTC - 10 Yr. IRS	3.880%	BOA	SOFR	Pay		04/12/24		(8,269,000	)		USD	(8,269,000	)		(39,843	)		(33,808	)		6,035
Put - OTC - 10 Yr. IRS	3.551%	GSI	SOFR	Pay		03/11/26		(764,901	)		USD	(764,901	)		(33,812	)		(34,899	)		(1,087	)
Put - OTC - 10 Yr. IRS	3.590%	DBAG	SOFR	Pay		03/06/26		(1,092,000	)		USD	(1,092,000	)		(48,703	)		(48,094	)		609
Put - OTC - 10 Yr. IRS	3.640%	BOA	SOFR	Pay		03/13/26		(1,278,014	)		USD	(1,278,014	)		(56,009	)		(54,150	)		1,859
Put - OTC - 10 Yr. IRS	3.550%	CBNA	SOFR	Pay		03/09/26		(1,223,842	)		USD	(1,223,842	)		(54,094	)		(55,833	)		(1,739	)
Put - OTC - 10 Yr. IRS	3.553%	MSIP	SOFR	Pay		03/06/26		(1,342,000	)		USD	(1,342,000	)		(60,222	)		(60,972	)		(750	)
Put - OTC - 10 Yr. IRS	3.537%	CBNA	SOFR	Pay		03/09/26		(1,530,243	)		USD	(1,530,243	)		(68,325	)		(70,574	)		(2,249	)
Put - OTC - 10 Yr. IRS	3.403%	MSIP	SOFR	Pay		12/15/25		(1,903,164	)		USD	(1,903,164	)		(85,547	)		(94,657	)		(9,110	)

Totals														$	(1,189,753	)	$	(953,981	)	$	235,772


Options on Exchange-Traded Futures Contracts	Strike Price			Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Put - 3 Month SOFR Futures		USD	94.875		04/12/24		(15	)		USD	(37,500	)	$	(2,601	)	$	(1,500	)	$	1,101
Put - 3 Month SOFR Futures		USD	95.000		04/12/24		(29	)		USD	(72,500	)		(7,565	)		(10,331	)		(2,766	)
Put - U.S. Treasury Note 2 Year Futures		USD	101.750		04/26/24		(27	)		USD	(54,000	)		(2,159	)		(2,532	)		(373	)

Totals													$	(12,325	)	$	(14,363	)	$	(2,038	)

Swap Agreements

Centrally Cleared Interest Rate Swaps


Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency	Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid/(Received)		Unrealized Appreciation/ (Depreciation)
Pay	12M SOFR	Annually	4.520%	Annually		03/26/26		USD	28,861,000	$	(6,512	)	$	123	$	(6,635	)
Pay	1M TIIE	Monthly	8.670%	Monthly		01/18/29		MXN	15,019,000		(6,760	)		8		(6,768	)
Pay	1M TIIE	Monthly	9.685%	Monthly		10/25/28		MXN	15,240,000		27,610			8		27,602
Pay	3M KCOD	Quarterly	3.188%	Quarterly		09/20/26		KRW	788,915,870		(1,853	)		4		(1,857	)
Pay	3M KCOD	Quarterly	3.330%	Quarterly		09/20/26		KRW	773,676,291		138			5		133
Pay	3M KCOD	Quarterly	3.380%	Quarterly		09/20/26		KRW	773,792,354		824			5		819
Pay	3M KCOD	Quarterly	3.383%	Quarterly		09/20/26		KRW	773,792,355		858			5		853
Pay	3M PRIBOR	Quarterly	3.306%	Quarterly		03/20/29		CZK	40,000,000		(27,644	)		19		(27,663	)

BHFTII-42

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Centrally Cleared Interest Rate Swaps—(Continued)


Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency	Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid/(Received)		Unrealized Appreciation/ (Depreciation)
Pay	6M EURIBOR	Annually	3.151%	Annually		07/21/28		EUR	937,000	$	17,396		$	9	$	17,387
Pay	6M WIBOR	Semi-Annually	5.305%	Semi-Annually		06/19/26		PLN	3,772,000		999			4		995
Receive	1M TIIE	Monthly	10.950%	Monthly		12/03/24		MXN	67,453,000		(735	)		5		(740	)
Receive	1M TIIE	Monthly	11.245%	Monthly		11/07/24		MXN	66,865,000		(6,416	)		4		(6,420	)
Receive	1M TIIE	Monthly	10.755%	Monthly		01/23/25		MXN	33,878,000		1,082			3		1,079
Receive	3M JIBAR	Quarterly	8.020%	Quarterly		03/26/26		ZAR	44,876,000		(463	)		8		(471	)
Receive	3M PRIBOR	Quarterly	4.675%	Quarterly		03/20/25		CZK	49,210,000		(1,900	)		6		(1,906	)
Receive	6M PRIBOR	Semi-Annually	4.098%	Semi-Annually		03/20/26		CZK	20,900,000		(1,265	)		4		(1,269	)
Receive	6M CORRA	Semi-Annually	4.173%	Semi-Annually		03/22/26		CAD	39,400,000		11,606			137		11,469
Receive	6M EURIBOR	Semi-Annually	2.456%	Semi-Annually		03/22/54		EUR	1,250,000		(35,241	)		48		(35,289	)
Receive	6M EURIBOR	Semi-Annually	2.490%	Semi-Annually		02/19/54		EUR	5,930,760		(210,796	)		228		(211,024	)
Receive	6M EURIBOR	Semi-Annually	2.506%	Semi-Annually		02/20/54		EUR	5,930,760		(232,372	)		228		(232,600	)
Receive	6M EURIBOR	Semi-Annually	2.511%	Semi-Annually		03/01/54		EUR	2,978,000		(120,441	)		115		(120,556	)
Receive	6M EURIBOR	Semi-Annually	2.513%	Semi-Annually		02/20/54		EUR	6,031,000		(246,507	)		232		(246,739	)
Receive	6M WIBOR	Semi-Annually	5.135%	Semi-Annually		12/20/25		PLN	3,744,000		5,776			3		5,773

Totals										$	(832,616	)	$	1,211	$	(833,827	)

OTC Interest Rate Swaps


Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency	Fixed Rate	Payment Frequency	Maturity Date		Counterparty	Notional Amount			Market Value			Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)⁽¹⁾
Pay	1-Day CDI	Maturity	10.108%	Maturity		01/02/26	GSI		BRL	1,931,920	$	(2,424	)	$	—	$	(2,424	)
Pay	1-Day CDI	Maturity	9.980%	Maturity		01/02/26	HSBC		BRL	6,147,000		(11,034	)		—		(11,034	)
Pay	1-Day CDI	Maturity	10.575%	Maturity		01/02/26	CBNA		BRL	8,064,000		14,207			—		14,207
Pay	1-Day CDI	Maturity	11.745%	Maturity		01/02/26	CBNA		BRL	5,106,000		27,017			—		27,017
Pay	1-Day CDI	Maturity	11.800%	Maturity		01/02/26	CBNA		BRL	5,263,226		29,570			—		29,570
Pay	1-Day CDI	Maturity	9.650%	Maturity		01/02/26	CBNA		BRL	9,503,000		(12,019	)		—		(12,019	)
Pay	1-Day CDI	Maturity	9.785%	Maturity		01/04/27	BNP		BRL	6,246,000		(13,288	)		—		(13,288	)
Pay	12M CLICP	Annually	4.875%	Annually		04/01/26	JPMC		CLP	1,795,968,939		—			—		—
Pay	12M CLICP	Annually	4.945%	Annually		04/01/26	GSI		CLP	1,788,699,061		49			—		49
Receive	12M CLICP	Semi-Annually	4.915%	Semi-Annually		04/01/28	JPMC		CLP	964,076,343		—			—		—
Receive	12M CLICP	Semi-Annually	4.990%	Semi-Annually		04/01/28	GSI		CLP	1,004,382,657		807			—		807
Receive	12M CPIBR	Annually	10.176%	Annually		06/20/25	CBNA		COP	3,997,331,802		(4,493	)		—		(4,493	)
Receive	12M CPIBR	Annually	10.300%	Annually		01/29/25	CBNA		COP	4,390,920,000		2,949			—		2,949
Receive	12M CPIBR	Annually	8.620%	Annually		11/05/25	JPMC		COP	7,068,327,000		(14,587	)		—		(14,587	)

Totals											$	16,754		$	—	$	16,754

Centrally Cleared Credit Default Swaps on Credit Indices—Buy Protection (a)


Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Implied Credit Spread at March 31, 2024^(b)			Notional Amount^(c)			Market Value			Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
CDX.NA.HY.41.V2		(5.000	%)		Quarterly		12/20/28		3.115	%		USD	3,133,250	$	(232,030	)	$	(232,029	)	$	(1	)
ITRX.EUR.41.V1		(1.000	%)		Quarterly		06/20/29		0.543	%		EUR	2,890,000		(68,733	)		(68,230)			(503	)
ITRX.EUR.XOVER.41.V1		(5.000	%)		Quarterly		06/20/29		2.973	%		EUR	2,336,400		(222,513	)		(231,221)			8,708
ITRX.FINSR.41.V1		(1.000	%)		Quarterly		06/20/29		0.631	%		EUR	9,090,000		(173,834	)		(170,991	)		(2,843	)

Totals														$	(697,110	)	$	(702,471	)	$	5,361

BHFTII-43

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Centrally Cleared Credit Default Swaps on Credit Indices—Sell Protection (d)


Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Implied Credit Spread at March 31, 2024^(b)			Notional Amount^(c)			Market Value		Upfront Premiums Paid/(Received)		Unrealized Appreciation/ (Depreciation)
CDX.NA.HY.42.V1		5.000	%		Quarterly		06/20/29		3.282	%		USD	55,956,500	$	3,859,377	$	4,063,617	$	(204,240	)

OTC Credit Default Swaps on Corporate and Sovereign Issues—Buy Protection (a)


Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at March 31, 2024^(b)			Notional Amount^(c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Abbott Laboratories 3.400%, due on 11/30/23		(1.000	%)		Quarterly		06/20/29	JPMC		0.434	%		USD	1,238,000	$	(32,809	)	$	(29,406	)	$	(3,403	)
American Electric Power Co., Inc. 3.200%, due on 11/13/27		(1.000	%)		Quarterly		06/20/29	BOA		0.348	%		USD	1,266,659		(39,199	)		(36,441	)		(2,758	)
American Electric Power Co., Inc. 3.200%, due on 11/13/27		(1.000	%)		Quarterly		06/20/29	BOA		0.348	%		USD	1,587,341		(49,124	)		(45,666	)		(3,458	)
American Electric Power Co., Inc. 3.200%, due on 11/13/27		(1.000	%)		Quarterly		06/20/29	GSI		0.348	%		USD	3,000,000		(92,841	)		(86,307	)		(6,534	)
American Express Co. 4.050%, due on 05/03/29		(1.000	%)		Quarterly		06/20/29	GSI		0.307	%		USD	3,000,000		(98,574	)		(92,048	)		(6,526	)
Avis Budget Group, Inc. 5.250%, due on 03/15/25		(5.000	%)		Quarterly		12/20/24	JPMC		0.528	%		USD	460,000		(14,821	)		5,569			(20,390	)
Avis Budget Group, Inc. 5.250%, due on 03/15/25		(5.000	%)		Quarterly		06/20/25	JPMC		0.641	%		USD	480,000		(24,995	)		14,561			(39,556	)
Beazer Homes USA, Inc. 6.750%, due on 03/15/25		(5.000	%)		Quarterly		06/20/24	BNP		0.119	%		USD	250,000		(2,808	)		(647	)		(2,161	)
Beazer Homes USA, Inc. 6.750%, due on 03/15/25		(5.000	%)		Quarterly		06/20/24	BNP		0.119	%		USD	250,000		(2,808	)		(698	)		(2,110	)
Beazer Homes USA, Inc. 6.750%, due on 03/15/25		(5.000	%)		Quarterly		06/20/24	BBP		0.119	%		USD	250,000		(2,808	)		(733	)		(2,075	)
Boeing Co. 2.600%, due on 10/30/25		(1.000	%)		Quarterly		12/20/28	DBAG		0.993	%		USD	700,000		(194	)		(3,237	)		3,043
Boeing Co. 8.750%, due on 08/15/21		(1.000	%)		Quarterly		12/20/24	BNP		0.338	%		USD	460,000		(2,197	)		(1,324	)		(873	)
Boeing Co. 8.750%, due on 08/15/21		(1.000	%)		Quarterly		12/20/24	MSIP		0.338	%		USD	1,185,000		(5,659	)		(2,021	)		(3,638	)
Brazil Government International Bond 4.250%, due on 01/07/25		(1.000	%)		Quarterly		06/20/29	BOA		1.370	%		USD	610,110		10,344			10,198			146
Brazil Government International Bond 4.250%, due on 01/07/25		(1.000	%)		Quarterly		12/20/24	BBP		0.272	%		USD	314,000		(1,651	)		1,123			(2,774	)
Brazil Government International Bond 4.250%, due on 01/07/25		(1.000	%)		Quarterly		12/20/24	BBP		0.272	%		USD	520,000		(2,734	)		1,896			(4,630	)
Brazil Government International Bond 4.250%, due on 01/07/25		(1.000	%)		Quarterly		12/20/24	BBP		0.272	%		USD	524,000		(2,755	)		1,910			(4,665	)
Brazil Government International Bond 4.250%, due on 01/07/25		(1.000	%)		Quarterly		12/20/24	BBP		0.272	%		USD	525,000		(2,760	)		1,914			(4,674	)
Brazil Government International Bond 4.250%, due on 01/07/25		(1.000	%)		Quarterly		12/20/24	BBP		0.272	%		USD	526,000		(2,765	)		1,881			(4,646	)
Brazil Government International Bond 4.250%, due on 01/07/25		(1.000	%)		Quarterly		12/20/24	BBP		0.272	%		USD	740,000		(3,891	)		2,647			(6,538	)
Colombia Government International Bond 10.375%, due on 01/28/33		(1.000	%)		Quarterly		06/20/29	JPMC		1.720	%		USD	725,686		23,830			25,393			(1,563	)
Deutsche Bank AG 5.125%, due on 08/31/17		(1.000	%)		Quarterly		06/20/28	JPMC		0.913	%		EUR	600,000		(2,218	)		42,381			(44,599	)
Deutsche Bank AG 5.125%, due on 08/31/17		(1.000	%)		Quarterly		06/20/28	JPMC		0.913	%		EUR	117,000		(432	)		5,356			(5,788	)

BHFTII-44

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

OTC Credit Default Swaps on Corporate and Sovereign Issues—Buy Protection (a)—(Continued)


Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at March 31, 2024^(b)			Notional Amount^(c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Deutsche Bank AG 5.125%, due on 08/31/17		(1.000	%)		Quarterly		06/20/28	JPMC		0.913	%		EUR	131,000	$	(484	)	$	6,332		$	(6,816	)
Deutsche Bank AG 5.125%, due on 08/31/17		(1.000	%)		Quarterly		06/20/28	JPMC		0.913	%		EUR	352,000		(1,301	)		16,115			(17,416	)
Dominion Energy, Inc. 4.250%, due on 06/01/28		(1.000	%)		Quarterly		06/20/29	GSI		0.526	%		USD	2,879,000		(64,511	)		(58,760	)		(5,751	)
Mexico Government International Bond 4.150%, due on 03/28/27		(1.000	%)		Quarterly		06/20/29	BOA		0.924	%		USD	2,423,933		(8,528	)		(7,780	)		(748	)
Republic of South Africa Government International Bond 5.875%, due on 09/16/25		(1.000	%)		Quarterly		06/20/29	MSIP		2.576	%		USD	495,000		34,694			32,937			1,757
Republic of South Africa Government International Bond 5.875%, due on 09/16/25		(1.000	%)		Quarterly		06/20/29	MSIP		2.576	%		USD	307,000		21,518			20,047			1,471
Republic of South Africa Government International Bond 5.875%, due on 09/16/25		(1.000	%)		Quarterly		06/20/29	CBNA		2.576	%		USD	787,337		55,184			48,500			6,684
Republic of South Africa Government International Bond 5.875%, due on 09/16/25		(1.000	%)		Quarterly		06/20/29	CBNA		2.576	%		USD	764,949		53,615			47,121			6,494
Tenet Healthcare Corp. 6.875%, due on 11/15/31		(5.000	%)		Quarterly		06/20/24	BBP		0.245	%		USD	499,000		(5,459	)		(258	)		(5,201	)
Turkiye Government International Bond 11.875%, due on 01/15/30		(1.000	%)		Quarterly		06/20/29	BOA		3.010	%		USD	141,961		12,519			13,099			(580	)
Turkiye Government International Bond 11.875%, due on 01/15/30		(1.000	%)		Quarterly		06/20/29	GSI		3.010	%		USD	548,919		49,334			49,334			—
Turkiye Government International Bond 11.875%, due on 01/15/30		(1.000	%)		Quarterly		06/20/29	GSI		3.010	%		USD	354,903		31,297			37,375			(6,078	)
Turkiye Government International Bond 11.875%, due on 01/15/30		(1.000	%)		Quarterly		06/20/29	GSI		3.010	%		USD	354,903		31,297			37,375			(6,078	)
Turkiye Government International Bond 11.875%, due on 01/15/30		(1.000	%)		Quarterly		06/20/29	GSI		3.010	%		USD	312,314		27,542			32,890			(5,348	)
UBS Group AG 0.250%, due on 01/29/26		(1.000	%)		Quarterly		06/20/28	BNP		0.506	%		EUR	134,000		(2,846	)		5,110			(7,956	)
UBS Group AG 0.250%, due on 01/29/26		(1.000	%)		Quarterly		06/20/28	JPMC		0.506	%		EUR	37,000		(786	)		1,735			(2,521	)
UBS Group AG 0.250%, due on 01/29/26		(1.000	%)		Quarterly		06/20/28	JPMC		0.506	%		EUR	112,000		(2,379	)		5,043			(7,422	)
UBS Group AG 0.250%, due on 01/29/26		(1.000	%)		Quarterly		06/20/28	JPMC		0.506	%		EUR	117,000		(2,485	)		5,923			(8,408	)
UBS Group AG 0.250%, due on 01/29/26		(1.000	%)		Quarterly		06/20/28	JPMC		0.506	%		EUR	1,000,000		(21,238	)		30,193			(51,431	)

Totals															$	(146,886	)	$	138,632		$	(285,518	)

OTC Credit Default Swaps on Credit Indices—Buy Protection (a)


Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at March 31, 2024^(b)			Notional Amount^(c)			Market Value		Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)
CMBX.NA.6.AAA		(0.500	%)		Monthly		05/11/63	DBAG		0.500	%		USD	2,619	$	—	$	1	$	1
CMBX.NA.9.AAA		(0.500	%)		Monthly		09/17/58	MSIP		0.537	%		USD	1,081,497		554		13,304		(12,750	)
CMBX.NA.9.AAA		(0.500	%)		Monthly		09/17/58	MSIP		0.537	%		USD	21,828		11		294		(283	)
CMBX.NA.9.BBB-		(3.000	%)		Monthly		09/17/58	CBNA		14.119	%		USD	500,000		73,469		15,433		58,036
CMBX.NA.9.BBB-		(3.000	%)		Monthly		09/17/58	MSIP		14.119	%		USD	105,000		15,428		5,307		10,121

Totals															$	89,462	$	34,339	$	55,125

BHFTII-45

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

OTC Credit Default Swaps on Credit Indices—Sell Protection (d)


Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Counterparty		Implied Credit Spread at March 31, 2024^(b)			Notional Amount^(c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
CMBX.NA.10.BBB-		3.000	%		Monthly		11/17/59		JPMC		12.143	%		USD	40,000	$	(7,553	)	$	(3,575	)	$	(3,978	)
CMBX.NA.9.BBB-		3.000	%		Monthly		09/17/58		DBAG		14.119	%		USD	467,000		(68,620	)		(57,312	)		(11,308	)
CMBX.NA.9.BBB-		3.000	%		Monthly		09/17/58		MSIP		14.119	%		USD	138,000		(20,277	)		(167	)		(20,110	)

Totals																$	(96,450	)	$	(61,054	)	$	(35,396	)

OTC Total Return Swaps

Pay/Receive
Floating Rate

Floating
Rate Index

Payment
Frequency

Maturity
Date

Counterparty

Underlying Reference
Instrument

Notional
Amount

Market
Value

Upfront
Premium
Paid

Unrealized
Appreciation/
(Depreciation)

Receive

12M SOFR

Quarterly

06/20/24

MSIP

Markit iBoxx USD Liquid Investment Grade Index

USD 1,750,000

(104

)

21,851

(21,955

)


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

Glossary of Abbreviations

Counterparties


(BBP)—		Barclays Bank PLC
(BNP)—		BNP Paribas SA
(BOA)—		Bank of America NA
(CBNA)—		Citibank NA
(DBAG)—		Deutsche Bank AG
(GSI)—		Goldman Sachs International
(HSBC)—		HSBC Bank PLC
(JPMC)—		JPMorgan Chase Bank NA
(MSIP)—		Morgan Stanley & Co. International PLC
(NIP)—		Nomura International PLC
(SCB)—		Standard Chartered Bank
(SSBT)—		State Street Bank and Trust
(TDB)—		Toronto Dominion Bank
(UBSA)—		UBS AG

Currencies


(AUD)—		Australian Dollar
(BRL)—		Brazilian Real
(CAD)—		Canadian Dollar
(CHF)—		Swiss Franc
(CLP)—		Chilean Peso
(CNH)—		Chinese Renminbi
(CNY)—		Chinese Yuan
(COP)—		Colombian Peso
(CZK)—		Czech Koruna
(EUR)—		Euro
(GBP)—		British Pound
(HUF)—		Hungarian Forint
(IDR)—		Indonesian Rupiah
(INR)—		Indian Rupee
(JPY)—		Japanese Yen
(KRW)—		South Korean Won
(MXN)—		Mexican Peso
(MYR)—		Malaysian Ringgit
(NOK)—		Norwegian Krone
(PEN)—		Peruvian Nuevo Sol
(PLN)—		Polish Zloty
(RUB)—		Russian Ruble
(SEK)—		Swedish Krona
(THB)—		Thai Baht
(TRY)—		Turkish Lira
(TWD)—		Taiwanese Dollar
(USD)—		United States Dollar
(ZAR)—		South African Rand

BHFTII-46

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Glossary of Abbreviations—(Continued)

Index Abbreviations


(CDI)—		Brazil Interbank Deposit Rate
(CDX.NA.HY)—		Markit North America High Yield CDS Index
(CLICP)—		Chilean Average Chamber Index
(CMBX)—		Commercial Mortgage-Backed Index
(CPIBR)—		Brazil Consumer Price Index
(CORRA)—		Canadian Average Overnight Repo Rate
(EURIBOR)—		Euro InterBank Offered Rate
(H15)—		U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(ITRX.EUR)—		Markit iTraxx Europe CDS Index
(ITRX.EUR.XOVER)—		Markit iTraxx Europe Crossover CDS Index
(ITRX.FINSR)—		Markit iTraxx Europe Senior Financial CDS Index
(JIBAR)—		Johannesburg Interbank Agreed Rate
(KCOD)—		South Korean Certificate of Deposit Rate
(MTA)—		Monthly Treasury Average Index
(PRIBOR)—		Prague Interbank Offered Rate
(SOFR)—		Secured Overnight Financing Rate
(SOFR30A)—		Secured Overnight Financing Rate 30-Day Average
(SONIA)—		Sterling Overnight Index Average Deposit Rate
(TIIE)—		Mexican Interbank Equilibrium Interest Rate
(TSFR)—		Term Secured Overnight Financing Rate
(WIBOR)—		Warsaw Interbank Offered Rate

Other Abbreviations


(CDO)—		Collateralized Debt Obligation
(CLO)—		Collateralized Loan Obligation
(DAC)—		Designated Activity Company
(ICE)—		Intercontinental Exchange, Inc.
(IRS)—		Interest Rate Swap
(REMIC)—		Real Estate Mortgage Investment Conduit

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—	$	1,594,803,662	$	—	$	1,594,803,662
Corporate Bonds & Notes
Aerospace/Defense		—		29,981,677		—		29,981,677
Agriculture		—		12,912,451		—		12,912,451
Airlines		—		4,098,869		42,367		4,141,236
Apparel		—		20,857		—		20,857
Auto Manufacturers		—		1,683,106		—		1,683,106
Auto Parts & Equipment		—		772,767		—		772,767
Banks		—		184,206,458		—		184,206,458
Beverages		—		1,013,726		—		1,013,726
Biotechnology		—		14,965,537		—		14,965,537
Chemicals		—		3,325,472		—		3,325,472
Commercial Services		—		3,885,155		—		3,885,155
Computers		—		3,963,909		—		3,963,909
Diversified Financial Services		—		4,554,518		—		4,554,518
Electric		—		78,791,310		1,063,018		79,854,328
Energy-Alternate Sources		—		613,282		—		613,282
Engineering & Construction		—		364,287		—		364,287
Entertainment		—		4,082,038		—		4,082,038
Environmental Control		—		1,839,458		—		1,839,458
Food		—		1,712,239		—		1,712,239
Gas		—		5,997,400		—		5,997,400
Healthcare-Products		—		7,290,407		—		7,290,407
Healthcare-Services		—		24,612,510		—		24,612,510
Home Builders		—		3,552,090		6,415,955		9,968,045
Insurance		—		4,274,267		—		4,274,267

BHFTII-47

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy—(Continued)


Description	Level 1		Level 2		Level 3		Total
Internet	$	—	$	2,248,319	$	—	$	2,248,319
Iron/Steel		—		933,928		—		933,928
Lodging		—		1,312,824		1,386,121		2,698,945
Machinery-Diversified		—		1,664,681		—		1,664,681
Media		—		16,164,473		—		16,164,473
Mining		—		9,890,569		—		9,890,569
Miscellaneous Manufacturing		—		538,400		—		538,400
Oil & Gas		—		62,593,063		1,146,316		63,739,379
Packaging & Containers		—		4,056,011		—		4,056,011
Pharmaceuticals		—		20,747,099		—		20,747,099
Pipelines		—		85,287,817		—		85,287,817
Real Estate		—		805,294		5,830,714		6,636,008
Real Estate Investment Trusts		—		44,185,677		—		44,185,677
Retail		—		4,471,990		—		4,471,990
Semiconductors		—		8,064,483		—		8,064,483
Shipbuilding		—		2,651,773		—		2,651,773
Software		—		7,275,624		—		7,275,624
Telecommunications		—		52,943,093		—		52,943,093
Transportation		—		4,916,408		—		4,916,408
Total Corporate Bonds & Notes		—		729,265,316		15,884,491		745,149,807
Asset-Backed Securities
Asset-Backed - Home Equity		—		25,209,027		—		25,209,027
Asset-Backed - Manufactured Housing		—		10,228,850		—		10,228,850
Asset-Backed - Other		—		220,800,551		7,687,939		228,488,490
Asset-Backed - Student Loan		—		20,737,571		—		20,737,571
Total Asset-Backed Securities		—		276,975,999		7,687,939		284,663,938
Total Mortgage-Backed Securities*		—		235,652,896		—		235,652,896
Total Foreign Government*		—		86,789,647		—		86,789,647
Total Municipals*		—		18,426,614		—		18,426,614
Floating Rate Loans
Agriculture		—		302,256		—		302,256
Apparel		—		110,344		—		110,344
Auto Parts & Equipment		—		242,342		—		242,342
Beverages		—		494,213		—		494,213
Chemicals		—		679,807		—		679,807
Commercial Services		—		1,990,522		1,009,665		3,000,187
Computers		—		—		3,290,615		3,290,615
Cosmetics/Personal Care		—		93,766		99,485		193,251
Engineering & Construction (Less Unfunded Loan Commitments of $83,083)		—		187,229		1,094,879		1,282,108
Entertainment		—		2,630,069		—		2,630,069
Food		—		733,298		—		733,298
Hand/Machine Tools		—		—		—		—
Healthcare-Services		—		224,680		—		224,680
Household Products/Wares		—		122,200		—		122,200
Housewares		—		310,029		—		310,029
Lodging		—		1,831,853		—		1,831,853
Media		—		151,289		—		151,289
Mining		—		83,849		—		83,849
Oil & Gas		—		—		360,500		360,500
Pipelines		—		130,058		—		130,058
Retail		—		200,347		—		200,347
Software		—		81,314		—		81,314
Telecommunications		—		737,327		—		737,327
Total Floating Rate Loans (Less Unfunded Loan Commitments of $83,083)		—		11,336,792		5,855,144		17,191,936

BHFTII-48

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy—(Continued)


Description	Level 1			Level 2			Level 3		Total
Common Stocks
Banks	$	21,896		$	—		$	—	$	21,896
Electrical Equipment		—			—			101,500		101,500
Energy Equipment & Services		526,371			—			—		526,371
Financial Services		198,773			—			—		198,773
Health Care Providers & Services		192,113			—			—		192,113
Hotel & Resort REITs		602,883			—			—		602,883
Hotels, Restaurants & Leisure		1,377,520			—			—		1,377,520
Household Durables		356,586			—			—		356,586
Machinery		2,103			—			—		2,103
Media		145,291			—			—		145,291
Metals & Mining		172,668			—			—		172,668
Oil, Gas & Consumable Fuels		1,446,529			—			—		1,446,529
Real Estate Management & Development		293,025			—			—		293,025
Wireless Telecommunication Services		—			21			—		21
Total Common Stocks		5,335,758			21			101,500		5,437,279
Total Preferred Stocks*		—			—			5,265,967		5,265,967
Convertible Bonds
Energy-Alternate Sources		—			49,720			—		49,720
Media		—			233,600			—		233,600
Oil & Gas Services		—			—			167,510		167,510
Total Convertible Bonds		—			283,320			167,510		450,830
Warrants
Health Care Providers & Services		3			—			—		3
Health Care Technology		0			—			—		0
Hotels, Restaurants & Leisure		—			—			0		0
IT Services		—			—			254,096		254,096
Machinery		5,224			—			—		5,224
Oil & Gas		—			—			1		1
Software		830			—			—		830
Specialty Retail		2,378			—			—		2,378
Total Warrants		8,435			—			254,097		262,532
Total Escrow Shares*		—			—			0		0
Total Short-Term Investment*		—			64,550,365			—		64,550,365
Securities Lending Reinvestments
Certificate of Deposit		—			993,030			—		993,030
Repurchase Agreements		—			31,692,747			—		31,692,747
Time Deposits		—			2,000,000			—		2,000,000
Mutual Funds		4,000,000			—			—		4,000,000
Total Securities Lending Reinvestments		4,000,000			34,685,777			—		38,685,777
Purchased Options
Foreign Currency Options at Value		—			765,998			—		765,998
Interest Rate Swaptions at Value		—			16,457			—		16,457
Options on Exchange-Traded Futures Contracts at Value		3,937			—			—		3,937
Total Purchased Options		3,937			782,455			—		786,392
Total Net Investments	$	9,348,130		$	3,053,552,864		$	35,216,648	$	3,098,117,642

Collateral for Securities Loaned (Liability)	$	—		$	(38,679,184	)	$	—	$	(38,679,184	)
TBA Forward Sales Commitments (Liability)	$	—		$	(23,383,518	)	$	—	$	(23,383,518	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	981,635		$	—	$	981,635
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(397,935	)		—		(397,935	)
Total Forward Contracts	$	—		$	583,700		$	—	$	583,700
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	1,319,416		$	—		$	—	$	1,319,416
Futures Contracts (Unrealized Depreciation)		(1,019,319	)		—			—		(1,019,319	)
Total Futures Contracts	$	300,097		$	—		$	—	$	300,097

BHFTII-49

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy—(Continued)


Description	Level 1			Level 2			Level 3		Total
Written Options
Foreign Currency Options at Value	$	—		$	(53,068	)	$	—	$	(53,068	)
Interest Rate Swaptions at Value		—			(953,981	)		—		(953,981	)
Options on Exchange-Traded Futures Contracts at Value		(14,363	)		—			—		(14,363	)
Total Written Options	$	(14,363	)	$	(1,007,049	)	$	—	$	(1,021,412	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	74,818		$	—	$	74,818
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(1,107,524	)		—		(1,107,524	)
Total Centrally Cleared Swap Contracts	$	—		$	(1,032,706	)	$	—	$	(1,032,706	)
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	515,235		$	—	$	515,235
OTC Swap Contracts at Value (Liabilities)		—			(652,459	)		—		(652,459	)
Total OTC Swap Contracts	$	—		$	(137,224	)	$	—	$	(137,224	)


*		See Schedule of Investments for additional detailed categorizations.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:


Investments in Securities	Balance as of December 31, 2023		Purchases		Sales			Realized Gain/ (Loss)			Transfers Out			Amortization		Change in Unrealized Appreciation/ (Depreciation)			Balance as of March 31, 2024		Change in Unrealized Appreciation/ (Depreciation) from Investments Held at March 31, 2024
Corporate Bonds
Airlines	$	—	$	42,367	$	—		$	—		$	—		$	—	$	—		$	42,367	$	—
Electric		—		1,250,642		—			—			—			5,158		(192,782	)		1,063,018		(192,782	)
Home Builders		4,204,670		3,079,155		(1,284,180	)		40,543			—			1,400		374,367			6,415,955		374,367
Lodging		1,320,306		55,346		—			—			—			1,889		8,580			1,386,121		8,580
Oil & Gas		1,117,728		32,845		—			—			—			—		(4,257	)		1,146,316		(4,257	)
Real Estate		5,698,951		80,041		—			—			—			7,773		43,949			5,830,714		43,949
Telecommunications		1,046,137		—		(1,046,137	)					—			—		—			—		—
Asset-Backed Securities
Asset-Backed - Other		4,314,631		3,309,322		—			—			—			—		63,986			7,687,939		63,986
Floating Rate Loans
Commercial Services		1,180,685		38,344		—			—			—			1,180		(210,544	)		1,009,665		(210,544	)
Computers*		2,135,985		1,171,829		(39,026	)		305			—			525		20,997			3,290,615		20,997
Cosmetics/Personal Care		217,005		—		—			—			(117,370	)		158		(308	)		99,485		(308	)
Engineering & Construction*		1,511,016		—		(2,789	)		21			(413,992	)		318		305			1,094,879		305
Oil & Gas		347,375		—		—			—			—			97		13,028			360,500		13,028
Preferred Stocks
Home Builders		2,493,315		—		—			—			—			—		32,850			2,526,165		32,850
IT Services		2,210,772		—		—			—			—			—		217,009			2,427,781		217,008
Software		152,606		—		—			—			—			—		(5,759	)		146,847		(5,759	)
Oil & Gas		—		164,500		—			—			—			—		674			165,174		674
Convertible Bonds
Automobiles		1,504,797		—		(1,206,625	)		(204,736	)		—			—		(93,436	)		—		—
Oil & Gas		—		164,500		—			—			—			—		3,010			167,510		3,010
Warants
Automobiles		8,629		—		—			—			—			—		(8,629	)		—		(8,629	)
Hotels, Restaurants & Leisure		0		—		—			—			—			—		—			0		—
IT Services		235,707		—		—			—			—			—		18,389			254,096		18,388
Oil & Gas		—		1		—			—			—			—		—			1		—
Common Stocks
Electrical Equipment		—		25		—			—			—			—		101,475			101,500		101,475
Escrow Shares
Savings & Loans		0		—		—			—			—			—		—			0		—

	$	29,700,315	$	9,388,917	$	(3,578,757	)	$	(163,867	)	$	(531,362	)	$	18,498	$	382,904		$	35,216,648	$	476,338


*		Values are net of unfunded loan commitments.

BHFTII-50

Brighthouse Funds Trust II

BlackRock Bond Income Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)


	Fair Value at March 31, 2024			Valuation Technique(s)	Unobservable Input	Range						Weighted Average			Relationship Between Fair Value and Input; if input value increases then Fair Value:
Corporate Bonds
Airlines	$	42,367		Market Transaction	Transaction Price	$	100.00		$	100.00		$	100.00			Increase
Electric		1,063,018		Market Yield Analysis	Midpoint Yield Spread		10.18	%		10.18	%		10.18	%		Decrease
					Reference Index Spread		4.32	%		4.32	%		4.32	%		Decrease
Home Builders		3,079,155		Market Transaction	Transaction Price	$	98.25		$	98.25		$	98.25			Increase
		3,336,800		Market Yield Analysis	Midpoint Yield Spread		4.00	%		4.00	%		4.00	%		Decrease
					Reference Index Spread		4.38	%		4.38	%		4.38	%		Decrease
Lodging		1,386,121		Market Yield Analysis	Midpoint Yield Spread		14.25	%		14.25	%		14.25	%		Decrease
					Reference Index Spread		4.66	%		4.66	%		4.66	%		Decrease
Oil & Gas		1,146,316		Market Yield Analysis	Midpoint Yield Spread		7.75	%		7.75	%		7.75	%		Decrease
					Reference Index Spread		4.31	%		4.31	%		4.31	%		Decrease
Real Estate		5,830,714		Market Yield Analysis	Midpoint Yield Spread		9.25	%		11.63	%		9.92	%		Decrease
					Reference Index Spread		4.23	%		4.23	%		4.23	%		Decrease
Asset-Backed
Asset-Backed - Other		3,309,323		Market Transaction	Transaction Price	$	100.00		$	5,005.51		$	1,806.78			Increase
		4,378,616		Market Yield Analysis	Midpoint Yield Spread		3.33	%		8.51	%		4.48	%		Decrease
					Reference Index Spread		3.59	%		4.39	%		4.23	%		Decrease
Floating Rate Loans
Commercial Services		1,009,665		EV Coverage Analysis	EV/EBITDA Multiple		14.50x			14.50x			14.50x			Increase
					Loan/EV Coverage Ratio		0.62x			0.62x			0.62x			Increase
Computers		3,290,615		Market Yield Analysis	Midpoint Yield Spread		7.75	%		9.13	%		8.80	%		Decrease
					Reference Index Spread		3.95	%		5.42	%		5.07	%		Decrease
Cosmetics/Personal Care		99,485		Market Yield Analysis	Midpoint Yield Spread		7.25	%		7.25	%		7.25	%		Decrease
					Reference Index Spread		3.91	%		3.91	%		3.91	%		Decrease
Engineering & Construction		1,094,879	*	Market Yield Analysis	Midpoint Yield Spread		6.50	%		6.50	%		6.50	%		Decrease
					Reference Index Spread		4.56	%		4.56	%		4.56	%		Decrease
Oil & Gas		360,500		Broker Quotations	Single-Source Quote	$	103.00		$	103.00		$	103.00			Increase
Preferred Stock
Home Builders		2,526,165		Market Yield Analysis	Midpoint Yield Spread		6.24	%		6.34	%		6.34	%		Decrease
					Reference Index Spread		4.59	%		4.09	%		4.09	%		Decrease
IT Services		2,427,781		Comparable Company Analysis	EV/Revenue Multiple		10.25x			10.25x			10.25x			Increase
					Accrued Dividend/Share	$	0.53		$	1.53		$	2.53			Increase
Software		146,847		Comparable Company Analysis	EV/Gross Profit Multiple		4.50x			4.50x			4.50x			Increase
Oil & Gas		165,174		Option Pricing Method	Volatility Rate		63.00	%		63.00	%		63.00	%		Increase
					Risk Free Rate		3.91	%		3.91	%		3.91	%		Decrease
Convertible Bonds
Oil & Gas Services		167,510		Market Yield Analysis	Midpoint Yield Spread		16.88	%		16.88	%		16.88	%		Decrease
					Reference Index Spread		4.32	%		4.32	%		4.32	%		Decrease
Common Stock
Electrical Equipment		101,500		Comparable Company Analysis	EV/Revenue Multiple		1.88x			1.88x			1.88x			Increase
Warrants
Hotels, Restaurants & Leisure		0		Black-Scholes Model	Strike Price	$	230.00		$	230.00		$	230.00			Decrease
					Volatility Rate		44.00	%		44.00	%		44.00	%		Increase
					Risk Free Rate		4.53	%		4.53	%		4.53	%		Decrease
IT Services		254,096		Comparable Company Analysis	EV/Revenue Multiple		10.25x			10.25x			10.25x			Increase
Oil & Gas		1		Option Pricing Method	Volatility Rate		63.00	%		63.00	%		63.00	%		Increase
					Risk Free Rate		3.91	%		3.91	%		3.91	%		Decrease


*		Value is net of unfunded loan commitments.

BHFTII-51

Brighthouse Funds Trust II

BlackRock Capital Appreciation Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—99.4% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—2.1%
TransDigm Group, Inc.		30,607	$	37,695,581


Automobiles—1.6%
Ferrari NV (a)		34,291		14,948,818
Tesla, Inc. (b)		72,302		12,709,969

				27,658,787


Broadline Retail—9.6%
Amazon.com, Inc. (b)		939,761		169,514,089


Capital Markets—4.5%
Blackstone, Inc. (a)		155,060		20,370,232
MSCI, Inc.		56,027		31,400,332
S&P Global, Inc.		64,593		27,481,092

				79,251,656


Chemicals—1.0%
Sherwin-Williams Co.		52,167		18,119,164


Commercial Services & Supplies—2.4%
Copart, Inc. (b)		443,622		25,694,586
Waste Connections, Inc.		94,918		16,326,845

				42,021,431


Entertainment—2.6%
Netflix, Inc. (b)		74,827		45,444,682


Financial Services—5.4%
Mastercard, Inc. - Class A		61,079		29,413,814
Visa, Inc. - Class A (a)		238,922		66,678,352

				96,092,166


Health Care Equipment & Supplies—5.1%
Align Technology, Inc. (b)		60,462		19,826,699
Boston Scientific Corp. (b)		254,958		17,462,074
IDEXX Laboratories, Inc. (b)		32,117		17,340,932
Intuitive Surgical, Inc. (b)		89,947		35,896,948

				90,526,653


Health Care Providers & Services—1.0%
UnitedHealth Group, Inc.		36,813		18,211,391


Hotels, Restaurants & Leisure—0.6%
Chipotle Mexican Grill, Inc. (b)		3,886		11,295,708


Interactive Media & Services—7.2%
Alphabet, Inc. - Class A (b)		414,934		62,625,989
Meta Platforms, Inc. - Class A		131,467		63,837,746

				126,463,735


IT Services—2.1%
MongoDB, Inc. (a)(b)		42,485		15,236,821
Shopify, Inc. - Class A (a)(b)		271,419		20,945,404

				36,182,225


Life Sciences Tools & Services—2.7%
Danaher Corp.		92,355		23,062,891
Thermo Fisher Scientific, Inc.		41,768		24,275,979

				47,338,870


Oil, Gas & Consumable Fuels—0.2%
Cheniere Energy, Inc.		16,037		2,586,447


Pharmaceuticals—3.2%
Eli Lilly & Co.		70,881		55,142,583
Zoetis, Inc.		9,852		1,667,057

				56,809,640


Real Estate Management & Development—1.4%
CoStar Group, Inc. (a)(b)		250,380		24,186,708


Semiconductors & Semiconductor Equipment—19.3%
ASML Holding NV		61,908		60,079,857
Broadcom, Inc.		50,822		67,359,987
KLA Corp.		35,377		24,713,311
NVIDIA Corp.		208,639		188,517,855

				340,671,010


Software—20.0%
Cadence Design Systems, Inc. (b)		113,284		35,263,044
Intuit, Inc.		108,820		70,733,000
Microsoft Corp.		421,583		177,368,400
Roper Technologies, Inc.		54,566		30,602,795
ServiceNow, Inc. (b)		24,928		19,005,107
Synopsys, Inc. (b)		34,607		19,777,900

				352,750,246


Technology Hardware, Storage & Peripherals—6.2%
Apple, Inc.		641,709		110,040,259


Textiles, Apparel & Luxury Goods—1.2%
LVMH Moet Hennessy Louis Vuitton SE		23,242		21,020,928

Total Common Stocks (Cost $1,010,210,609)				1,753,881,376


Preferred Stock—0.5%

Interactive Media & Services—0.5%
Bytedance Ltd. - Series E1 † (b) (c) (d) (Cost $5,371,984)		49,026		7,844,160

BHFTII-52

Brighthouse Funds Trust II

BlackRock Capital Appreciation Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Short-Term Investment—0.1%


Security Description	Principal Amount*		Value

Repurchase Agreement—0.1%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $2,272,741; collateralized by U.S. Treasury Note at 0.625%, maturing 01/15/26, with a market value of $2,317,664.		2,272,109	$	2,272,109

Total Short-Term Investments (Cost $2,272,109)				2,272,109

Total Investments— 100.0% (Cost $1,017,854,702)				1,763,997,645
Other assets and liabilities (net)—0.0%				459,211

Net Assets—100.0%			$	1,764,456,856


*		Principal amount stated in U.S. dollars unless otherwise noted.
†		Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2024, the market value of restricted securities was $7,844,160, which is 0.5% of net assets. See details shown in the Restricted Securities table that follows.
(a)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $55,583,554 and the collateral received consisted of non-cash collateral with a value of $57,379,745. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(b)		Non-income producing security.
(c)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(d)		Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent 0.5% of net assets.


Restricted Securities	Acquisition Date		Shares		Cost		Value
Bytedance Ltd. - Series E1		12/10/20		49,026	$	5,371,984	$	7,844,160

BHFTII-53

Brighthouse Funds Trust II

BlackRock Capital Appreciation Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	37,695,581	$	—	$	—	$	37,695,581
Automobiles		27,658,787		—		—		27,658,787
Broadline Retail		169,514,089		—		—		169,514,089
Capital Markets		79,251,656		—		—		79,251,656
Chemicals		18,119,164		—		—		18,119,164
Commercial Services & Supplies		42,021,431		—		—		42,021,431
Entertainment		45,444,682		—		—		45,444,682
Financial Services		96,092,166		—		—		96,092,166
Health Care Equipment & Supplies		90,526,653		—		—		90,526,653
Health Care Providers & Services		18,211,391		—		—		18,211,391
Hotels, Restaurants & Leisure		11,295,708		—		—		11,295,708
Interactive Media & Services		126,463,735		—		—		126,463,735
IT Services		36,182,225		—		—		36,182,225
Life Sciences Tools & Services		47,338,870		—		—		47,338,870
Oil, Gas & Consumable Fuels		2,586,447		—		—		2,586,447
Pharmaceuticals		56,809,640		—		—		56,809,640
Real Estate Management & Development		24,186,708		—		—		24,186,708
Semiconductors & Semiconductor Equipment		340,671,010		—		—		340,671,010
Software		352,750,246		—		—		352,750,246
Technology Hardware, Storage & Peripherals		110,040,259		—		—		110,040,259
Textiles, Apparel & Luxury Goods		—		21,020,928		—		21,020,928
Total Common Stocks		1,732,860,448		21,020,928		—		1,753,881,376
Total Preferred Stock*		—		—		7,844,160		7,844,160
Total Short-Term Investment*		—		2,272,109		—		2,272,109
Total Investments	$	1,732,860,448	$	23,293,037	$	7,844,160	$	1,763,997,645


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-54

Brighthouse Funds Trust II

BlackRock Ultra-Short Term Bond Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—0.2% of Net Assets


Security Description	Principal Amount*		Value

Beverages—0.2%
PepsiCo, Inc.
5.754%, SOFR + 0.400%, 11/12/24 (a) (Cost $1,580,000)		1,580,000	$	1,581,975


Short-Term Investments—99.6%

Certificate of Deposit—19.0%
Bank of America NA
5.220%, 02/06/25		4,597,000		4,589,692
5.750%, 11/14/24		3,000,000		3,004,628
5.900%, 05/14/24		5,000,000		5,001,845
5.950%, 07/15/24		2,000,000		2,002,868
6.000%, 08/21/24		3,000,000		3,004,572
Bank of Montreal 5.600%, 11/29/24		3,000,000		3,002,769
Bank of Nova Scotia 5.800%, 11/08/24		2,000,000		2,003,415
5.820%, 06/13/24		3,000,000		3,001,000
Barclays Bank PLC 5.400%, 10/01/24		2,000,000		1,998,629
5.720%, SOFR + 0.390%, 10/04/24 (a)		1,750,000		1,750,000
BNP Paribas SA 5.230%, 12/18/24		4,000,000		3,994,503
5.280%, 12/31/24		2,000,000		1,997,708
5.720%, 08/19/24		3,000,000		3,002,813
Canadian Imperial Bank of Commerce 5.170%, 02/07/25		4,000,000		3,993,687
5.930%, 06/28/24		3,000,000		3,002,355
Citibank NA 5.880%, 05/08/24		4,500,000		4,501,315
5.890%, 05/10/24		3,000,000		3,000,946
5.920%, 06/20/24		4,000,000		4,003,208
Commonwealth Bank of Australia 5.700%, 11/27/24		2,500,000		2,505,470
Cooperatieve Rabobank UA 5.270%, 02/05/25		2,700,000		2,696,881
Credit Agricole Corporate & Investment Bank SA 5.410%, 07/01/24		2,000,000		1,999,899
5.420%, 06/11/24		12,000,000		12,000,322
Credit Industriel et Commercial 5.460%, 06/17/24		2,000,000		1,999,786
HSBC Bank USA NA 5.900%, 05/09/24		4,000,000		4,001,338
Mitsubishi UFJ Trust & Banking Corp. 5.510%, SOFR + 0.180%, 09/05/24 (a)		2,000,000		1,999,941
5.530%, SOFR + 0.200%, 10/01/24 (a)		4,000,000		3,999,501
Natixis SA 5.510%, SOFR + 0.180%, 09/10/24 (a)		4,000,000		4,000,773
Nordea Bank Abp 5.800%, SOFR + 0.470%, 07/24/24 (a)		2,000,000		2,001,979
5.840%, SOFR + 0.510%, 04/12/24 (a)		4,500,000		4,500,780
5.850%, SOFR + 0.520%, 04/18/24 (a)		5,000,000		5,001,252
Sumitomo Mitsui Banking Corp. 5.500%, SOFR + 0.170%, 08/06/24 (a)		7,000,000		7,000,284
5.500%, SOFR + 0.170%, 08/13/24 (a)		4,000,000		4,000,098

Certificate of Deposit—Continued)
Sumitomo Mitsui Banking Corp.
5.500%, SOFR + 0.170%, 08/28/24 (a)		3,000,000		2,999,936
5.580%, SOFR + 0.250%, 09/27/24 (a)		3,000,000		3,001,365
Sumitomo Mitsui Trust Bank Ltd.
5.500%, SOFR + 0.170%, 09/05/24 (a)		4,000,000		3,999,712
5.510%, SOFR + 0.180%, 08/01/24 (a)		4,000,000		4,000,344
5.540%, SOFR + 0.210%, 07/22/24 (a)		5,000,000		5,000,000
5.600%, SOFR + 0.270%, 07/08/24 (a)		4,000,000		4,001,667
Svenska Handelsbanken AB 5.880%, SOFR + 0.550%, 04/29/24 (a)		3,000,000		3,001,215
Toronto-Dominion Bank 6.000%, 10/02/24		2,000,000		2,004,240
Wells Fargo Bank NA 5.180%, 02/07/25		4,000,000		3,992,980
5.970%, SOFR + 0.640%, 07/17/24 (a)		2,000,000		2,003,048
Westpac Banking Corp. 5.630%, SOFR + 0.300%, 01/31/25 (a)		1,000,000		1,000,401
5.910%, SOFR + 0.580%, 05/17/24 (a)		3,000,000		3,001,960

				152,571,125


Commercial Paper—49.6%
Albion Capital LLC 5.407%, 05/28/24 (144A) (b)		10,000,000		9,908,189
Alinghi Funding Co. LLC 5.559%, 10/04/24 (b)		2,000,000		1,943,422
5.737%, 05/14/24 (b)		5,000,000		4,964,776
Aquitaine Funding Co. LLC 5.102%, 04/15/24 (144A) (b)		7,000,000		6,981,138
5.255%, 04/24/24 (144A) (b)		6,000,000		5,975,619
Australia & New Zealand Banking Group Ltd. 5.081%, 01/06/25 (144A) (b)		4,000,000		3,839,942
5.648%, 08/29/24 (b)		3,000,000		2,932,163
5.686%, 07/30/24 (b)		3,000,000		2,944,978
5.830%, SOFR + 0.500%, 04/02/24 (a)		2,000,000		2,000,110
Bank of Montreal 5.472%, 07/26/24 (b)		2,600,000		2,553,980
5.647%, 11/07/24 (b)		4,000,000		3,870,412
5.722%, 11/06/24 (b)		2,500,000		2,419,343
Barton Capital SA 5.311%, 05/08/24 (144A) (b)		4,500,000		4,472,363
Bayerische Landesbank
Zero Coupon, 04/01/24		17,000,000		16,989,962
Bedford Row Funding Corp. 3.617%, 04/03/24 (144A) (b)		8,000,000		7,992,909
BofA Securities, Inc. 5.387%, 06/24/24 (144A) (b)		3,000,000		2,960,395
BPCE SA 5.580%, SOFR + 0.250%, 08/01/24 (144A) (a)		4,000,000		4,002,226
Britannia Funding Co. LLC 5.449%, 08/20/24 (144A) (b)		5,000,000		4,891,972
Cabot Trail Funding LLC
Zero Coupon, 04/01/24 (144A)		20,079,000		20,067,141
CDP Financial, Inc. 5.288%, 05/29/24 (b)		4,000,000		3,963,218
5.656%, 07/23/24 (b)		4,000,000		3,931,061

BHFTII-55

Brighthouse Funds Trust II

BlackRock Ultra-Short Term Bond Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Short-Term Investments—(Continued)


Security Description	Principal Amount*		Value

Commercial Paper—(Continued)
Chariot Funding LLC 3.631%, 04/03/24 (144A) (b)		15,000,000	$	14,986,678
Cisco Systems, Inc. 5.271%, 05/06/24 (144A) (b)		12,000,000		11,928,864
Columbia Funding Co. LLC 5.348%, 07/10/24 (144A) (b)		10,000,000		9,843,900
Commonwealth Bank of Australia 5.530%, SOFR + 0.200%, 11/07/24 (144A) (a)		1,000,000		999,845
5.630%, SOFR + 0.300%, 01/31/25 (144A) (a)		2,000,000		2,000,562
Concord Minutemen Capital Co. LLC 5.470%, 05/13/24 (144A) (b)		4,000,000		3,999,835
DBS Bank Ltd. 5.480%, 09/19/24 (144A) (b)		4,600,000		4,482,157
DNB Bank ASA 5.176%, 01/22/25 (144A) (b)		2,000,000		1,914,867
5.375%, 06/26/24 (144A) (b)		2,000,000		1,973,510
5.501%, 12/05/24 (144A) (b)		4,000,000		3,855,794
5.518%, 05/28/24 (144A) (b)		6,000,000		5,946,196
5.738%, 07/30/24 (144A) (b)		3,000,000		2,945,821
5.810%, SOFR + 0.480%, 04/29/24 (a)		3,250,000		3,251,127
Federation des Caisses Desjardins du Quebec 5.391%, 06/14/24 (144A) (b)		5,500,000		5,436,365
FMS Wertmanagement 5.418%, 05/02/24 (b)		2,000,000		1,989,675
5.424%, 05/03/24 (b)		2,000,000		1,989,380
Goldman Sachs International 5.457%, 06/11/24 (144A) (b)		2,300,000		2,274,293
Great Bear Funding LLC 2.702%, 04/02/24 (b)		18,000,000		17,986,664
HSBC Bank PLC 5.980%, SOFR + 0.650%, 07/25/24 (a)		5,000,000		5,007,688
ING U.S. Funding LLC 5.570%, 05/01/24 (b)		5,500,000		5,471,992
5.601%, 09/03/24 (b)		2,000,000		1,953,245
5.707%, 07/01/24 (b)		2,000,000		1,971,720
Ionic Funding LLC 5.223%, 04/17/24 (b)		6,500,000		6,480,437
5.353%, 04/26/24 (b)		3,000,000		2,986,858
Kreditanstalt fuer Wiederaufbau 5.453%, 05/02/24 (b)		5,000,000		4,974,236
Landesbank Baden-Wuerttemberg
Zero Coupon, 04/01/24		30,000,000		29,982,211
Lloyds Bank PLC 5.670%, SOFR + 0.350%, 02/14/25 (144A) (a)		3,000,000		3,001,009
LMA-Americas LLC 5.398%, 06/12/24 (144A) (b)		3,900,000		3,855,754
Macquarie Bank Ltd. 4.965%, 04/08/24 (b)		1,920,000		1,916,842
5.360%, 02/07/25 (144A) (b)		3,000,000		2,863,811
5.425%, 04/18/24 (b)		5,000,000		4,984,273
5.500%, SOFR + 0.170%, 08/16/24 (144A) (a)		4,000,000		3,999,808
Mainbeach Funding LLC 2.713%, 04/02/24 (b)		11,000,000		10,991,811
3.617%, 04/03/24 (144A) (b)		15,000,000		14,986,600

Commercial Paper—(Continued)
National Australia Bank Ltd. 5.272%, 10/04/24 (144A) (b)		3,000,000		2,917,825
5.520%, SOFR + 0.190%, 10/21/24 (144A) (a)		3,000,000		2,999,210
Ontario Teachers’ Finance Trust 5.501%, 05/06/24 (b)		4,000,000		3,976,860
Province of Quebec Canada 5.276%, 05/07/24 (144A) (b)		17,000,000		16,899,637
Regency Markets No. 1 LLC 5.162%, 04/19/24 (144A) (b)		5,098,000		5,081,314
Royal Bank of Canada 5.722%, 11/06/24 (b)		3,000,000		2,903,608
5.930%, SOFR + 0.600%, 05/23/24 (a)		3,550,000		3,552,723
Starbird Funding Corp. 5.520%, SOFR + 0.190%, 10/07/24 (144A) (a)		3,000,000		2,999,530
5.580%, 05/10/24 (b)		7,000,000		6,955,101
Svenska Handelsbanken AB 5.480%, 10/21/24 (144A) (b)		4,000,000		3,879,692
5.675%, 06/03/24 (b)		2,000,000		1,980,406
5.688%, 08/01/24 (b)		3,000,000		2,945,335
Versailles Commercial Paper LLC 5.384%, 05/23/24 (b)		4,000,000		3,966,450
5.439%, 07/01/24 (144A) (b)		5,000,000		4,928,693
Westpac Banking Corp. 5.636%, 11/07/24 (b)		2,000,000		1,935,580
5.643%, 11/14/24 (144A) (b)		3,000,000		2,900,566
5.696%, 09/12/24 (b)		2,500,000		2,438,955
5.850%, SOFR + 0.520%, 04/19/24 (a)		2,000,000		2,000,524

				398,101,156


Repurchase Agreements—28.2%
BofA Securities, Inc. Repurchase Agreement dated 03/28/24 at 5.330%, due on 04/01/24 with a maturity value of $115,968,639; collateralized by U.S. Government Agency Obligations with rates ranging from 4.000% -7.500%, with maturity dates ranging from 05/20/52 - 02/20/54, and an aggregate market value of $118,218,000.		115,900,000		115,900,000
JPMorgan Securities LLC Repurchase Agreement dated 03/28/24 at 5.330%, due on 04/01/24 with a maturity value of $100,059,222; collateralized by U.S. Government Agency Obligations with rates ranging from 4.790% - 7.000%, with maturity dates ranging from 06/20/32 - 03/15/58, and an aggregate market value of $102,000,001.		100,000,000		100,000,000
TD Securities (USA) LLC Repurchase Agreement dated 03/28/24 at 5.340%, due on 04/01/24 with a maturity value of $11,006,527; collateralized by U.S. Government Agency Obligations with rates ranging from 2.000% - 5.000%, with maturity dates ranging from 12/01/51-07/01/52, and an aggregate market value of $11,330,001.		11,000,000		11,000,000

				226,900,000


U.S. Treasury — 0.3%
U.S. Treasury Bill 5.063%, 02/20/25 (b)		3,000,000		2,869,891

BHFTII-56

Brighthouse Funds Trust II

BlackRock Ultra-Short Term Bond Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Short-Term Investments—(Continued)


Security Description	Principal Amount*		Value

Time Deposit—2.5%
Royal Bank of Canada 5.320%, 04/01/24		20,000,000	$	20,000,000

Total Short-Term Investments (Cost $800,586,399)				800,442,172

Total Investments— 99.8% (Cost $802,166,399)				802,024,147
Other assets and liabilities (net) — 0.2%				1,250,276


Net Assets—100.0%			$803,274,423


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(b)		The rate shown represents current yield to maturity.
(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 March 31, 2024, the market value of 144A securities was $214,994,030, which is 26.8% of net assets.

Glossary of Abbreviations

Index Abbreviations


(SOFR)—		Secured Overnight Financing Rate

BHFTII-57

Brighthouse Funds Trust II

BlackRock Ultra-Short Term Bond Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Total Corporate Bonds & Notes*	$	—	$	1,581,975	$	—	$	1,581,975
Total Short-Term Investments*		—		800,442,172		—		800,442,172
Total Investments	$	—	$	802,024,147	$	—	$	802,024,147


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-58

Brighthouse Funds Trust II

Brighthouse Asset Allocation 20 Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mutual Funds—100.1% of Net Assets


Security Description	Shares		Value

Affiliated Investment Companies—100.1%
AB International Bond Portfolio (Class A) (a)		892,860	$	7,223,241
Baillie Gifford International Stock Portfolio (Class A) (b)		332,557		3,601,589
BlackRock Bond Income Portfolio (Class A) (b)		481,430		44,228,974
BlackRock Capital Appreciation Portfolio (Class A) (b)		65,275		2,692,614
BlackRock High Yield Portfolio (Class A) (a)		360,576		2,707,924
Brighthouse Small Cap Value Portfolio (Class A) (a)		241,318		3,617,357
Brighthouse/abrdn Emerging Markets Equity Portfolio (Class A) (a)		100,889		902,952
Brighthouse/Artisan International Portfolio (Class A) (a)		238,838		2,701,260
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (b)		3,930		904,036
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (a)		623,601		6,310,838
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) (a)		2,037,952		18,035,874
Brighthouse/Templeton International Bond Portfolio (Class A) (a)(c)		712,000		5,368,479
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (b)		209,274		6,322,162
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (a)		234,908		3,612,889
CBRE Global Real Estate Portfolio (Class A) (a)		172,556		1,808,390
Harris Oakmark International Portfolio (Class A) (a)		274,788		3,610,720
Invesco Comstock Portfolio (Class A) (a)		520,164		7,230,279
Invesco Global Equity Portfolio (Class A) (a)		33,891		902,517
Jennison Growth Portfolio (Class A) (b)(c)		165,143		2,690,183
JPMorgan Core Bond Portfolio (Class A) (a)		3,091,591		27,978,898
JPMorgan Small Cap Value Portfolio (Class A) (a)		151,789		1,809,324
Loomis Sayles Small Cap Growth Portfolio (Class A) (b)(c)		79,782		903,932

Affiliated Investment Companies—(Continued)
MFS Research International Portfolio (Class A) (a)		284,052		3,610,306
MFS Value Portfolio (Class A) (b)		537,047		8,136,257
Neuberger Berman Genesis Portfolio (Class A) (b)		92,629		1,808,119
PIMCO Inflation Protected Bond Portfolio (Class A) (a)		3,220,008		30,686,676
PIMCO Total Return Portfolio (Class A) (a)		4,553,560		45,125,784
T. Rowe Price Large Cap Growth Portfolio (Class A) (b)(c)		115,378		2,695,219
T. Rowe Price Large Cap Value Portfolio (Class A) (a)		189,353		5,423,066
T. Rowe Price Mid Cap Growth Portfolio (Class A) (a)		87,514		903,140
T. Rowe Price Small Cap Growth Portfolio (Class A) (b)		166,419		3,614,622
TCW Core Fixed Income Portfolio (Class A) (a)		3,892,550		34,293,366
VanEck Global Natural Resources Portfolio (Class A) (b)		370,156		4,523,309
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (b)		1,631,253		18,057,975
Western Asset Management U.S. Government Portfolio (Class A) (b)		4,465,363		46,930,969

Total Mutual Funds (Cost $389,429,808)				360,973,240

Total Investments— 100.1% (Cost $389,429,808)				360,973,240
Other assets and liabilities (net) — (0.1)%				(302,943	)

Net Assets—100.0%			$	360,670,297


(a)		A Portfolio of Brighthouse Funds Trust I.
(b)		A Portfolio of Brighthouse Funds Trust II.
(c)		Non-income producing security.

Transactions in Securities of Affiliated Issuers

A summary of the Portfolio’s transactions in the securities of affiliated issuers for the period ended March 31, 2024 is as follows.


Security Description	Market Value December 31, 2023		Purchases		Sales			Realized Gain/(Loss)			Change in Unrealized Appreciation/ (Depreciation)			Ending Value as of March 31, 2024
AB International Bond Portfolio (Class A)	$	7,492,067	$	11,026	$	(376,888	)	$	(96,818	)	$	193,854		$	7,223,241
Baillie Gifford International Stock Portfolio (Class A)		3,770,798		110		(292,551	)		(143,368	)		266,600			3,601,589
BlackRock Bond Income Portfolio (Class A)		45,805,220		93,178		(1,471,016	)		(269,648	)		71,240			44,228,974
BlackRock Capital Appreciation Portfolio (Class A)		2,802,066		4,486		(473,602	)		(142,639	)		502,303			2,692,614
BlackRock High Yield Portfolio (Class A)		2,814,442		4,304		(161,608	)		(4,943	)		55,729			2,707,924
Brighthouse Small Cap Value Portfolio (Class A)		3,708,104		50,738		(378,946	)		78,770			158,691			3,617,357
Brighthouse/abrdn Emerging Markets Equity Portfolio (Class A)		944,090		5,043		(58,101	)		(3,490	)		15,410			902,952
Brighthouse/Artisan International Portfolio (Class A)		2,812,265		—		(369,773	)		35,361			223,407			2,701,260
Brighthouse/Artisan Mid Cap Value Portfolio (Class A)		935,487		—		(82,978	)		31,135			20,392			904,036
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A)		6,492,281		18,592		(327,164	)		3,737			123,392			6,310,838
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A)		18,552,650		50,684		(690,172	)		(91,066	)		213,778			18,035,874
Brighthouse/Templeton International Bond Portfolio (Class A)		5,648,249		3,247		(61,114	)		(18,482	)		(203,421	)		5,368,479
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A)		6,577,074		20,739		(644,551	)		(60,750	)		429,650			6,322,162
Brighthouse/Wellington Large Cap Research Portfolio (Class A)		3,749,893		—		(529,610	)		126,839			265,767			3,612,889
CBRE Global Real Estate Portfolio (Class A)		1,876,468		8,868		(66,248	)		16,713			(27,411	)		1,808,390
Harris Oakmark International Portfolio (Class A)		3,747,189		23,260		(163,992	)		54,494			(50,231	)		3,610,720
Invesco Comstock Portfolio (Class A)		7,492,989		—		(897,895	)		235,202			399,983			7,230,279
Invesco Global Equity Portfolio (Class A)		936,749		245		(132,702	)		37,074			61,151			902,517
Jennison Growth Portfolio (Class A)		2,800,375		27,017		(494,504	)		(79,722	)		437,017			2,690,183
JPMorgan Core Bond Portfolio (Class A)		28,969,139		71,042		(993,697	)		(135,185	)		67,599			27,978,898
JPMorgan Small Cap Value Portfolio (Class A)		1,850,266		30,210		(171,256	)		(116,743	)		216,847			1,809,324

BHFTII-59

Brighthouse Funds Trust II

Brighthouse Asset Allocation 20 Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Transactions in Securities of Affiliated Issuers—(Continued)


Security Description	Market Value December 31, 2023		Purchases		Sales			Realized Gain/(Loss)			Change in Unrealized Appreciation/ (Depreciation)			Ending Value as of March 31, 2024
Loomis Sayles Small Cap Growth Portfolio (Class A)	$	926,063	$	21,147	$	(103,051	)	$	(47,259	)	$	107,032		$	903,932
MFS Research International Portfolio (Class A)		3,754,782		—		(322,770	)		16,577			161,717			3,610,306
MFS Value Portfolio (Class A)		8,450,934		—		(1,009,627	)		(35,965	)		730,915			8,136,257
Neuberger Berman Genesis Portfolio (Class A)		1,850,531		29,386		(173,320	)		27,385			74,137			1,808,119
PIMCO Inflation Protected Bond Portfolio (Class A)		31,640,735		115,276		(1,163,126	)		(78,627	)		172,418			30,686,676
PIMCO Total Return Portfolio (Class A)		46,749,711		92,062		(1,661,086	)		(322,863	)		267,960			45,125,784
T. Rowe Price Large Cap Growth Portfolio (Class A)		2,805,343		356		(445,709	)		(143,575	)		478,804			2,695,219
T. Rowe Price Large Cap Value Portfolio (Class A)		5,628,986		2,410		(663,066	)		173,783			280,953			5,423,066
T. Rowe Price Mid Cap Growth Portfolio (Class A)		934,106		2,767		(108,516	)		15,585			59,198			903,140
T. Rowe Price Small Cap Growth Portfolio (Class A)		3,705,922		43,221		(456,232	)		(23,735	)		345,446			3,614,622
TCW Core Fixed Income Portfolio (Class A)		35,537,702		117,211		(965,301	)		(114,456	)		(281,790	)		34,293,366
VanEck Global Natural Resources Portfolio (Class A)		4,626,560		116,940		(346,155	)		43,805			82,159			4,523,309
Western Asset Management Strategic Bond Opportunities Portfolio (Class A)		18,745,651		38,438		(886,904	)		(231,903	)		392,693			18,057,975
Western Asset Management U.S. Government Portfolio (Class A)		48,630,458		88,608		(1,642,744	)		(277,337	)		131,984			46,930,969

	$	373,765,345	$	1,090,611	$	(18,785,975	)	$	(1,542,114	)	$	6,445,373		$	360,973,240

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	360,973,240	$	—	$	—	$	360,973,240
Total Investments	$	360,973,240	$	—	$	—	$	360,973,240

BHFTII-60

Brighthouse Funds Trust II

Brighthouse Asset Allocation 40 Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mutual Funds—100.0% of Net Assets


Security Description	Shares		Value

Affiliated Investment Companies—100.0%
AB International Bond Portfolio (Class A) (a)		15,659,163	$	126,682,629
Allspring Mid Cap Value Portfolio (Class A) (a)		746,759		9,155,259
Baillie Gifford International Stock Portfolio (Class A) (b)		8,303,778		89,929,912
BlackRock Bond Income Portfolio (Class A) (b)		3,722,345		341,971,804
BlackRock Capital Appreciation Portfolio (Class A) (b)		1,524,718		62,894,625
BlackRock High Yield Portfolio (Class A) (a)		3,608,404		27,099,117
Brighthouse Small Cap Value Portfolio (Class A) (a)		3,059,393		45,860,306
Brighthouse/abrdn Emerging Markets Equity Portfolio (Class A) (a)		3,017,156		27,003,547
Brighthouse/Artisan International Portfolio (Class A) (a)		5,605,011		63,392,680
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (b)		39,737		9,140,595
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (a)		6,188,176		62,624,344
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) (a)		12,013,152		106,316,396
Brighthouse/Templeton International Bond Portfolio (Class A) (a)(c)		11,670,030		87,992,026
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (b)		3,910,655		118,140,902
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (a)		5,328,349		81,950,003
CBRE Global Real Estate Portfolio (Class A) (a)		2,587,087		27,112,675
Harris Oakmark International Portfolio (Class A) (a)		7,589,501		99,726,046
Invesco Comstock Portfolio (Class A) (a)		8,549,828		118,842,607
Invesco Global Equity Portfolio (Class A) (a)		1,357,884		36,160,440
Invesco Small Cap Growth Portfolio (Class A) (a)(c)		2,019,550		18,276,931
Jennison Growth Portfolio (Class A) (b)(c)		2,756,233		44,899,037
JPMorgan Core Bond Portfolio (Class A) (a)		14,920,166		135,027,501

Affiliated Investment Companies—(Continued)
JPMorgan Small Cap Value Portfolio (Class A) (a)		2,310,264		27,538,342
Loomis Sayles Growth Portfolio (Class A) (a)		2,064,617		36,006,913
Loomis Sayles Small Cap Growth Portfolio (Class A) (b)(c)		805,507		9,126,395
MFS Research International Portfolio (Class A) (a)		4,974,873		63,230,640
MFS Value Portfolio (Class A) (b)		9,056,715		137,209,226
Neuberger Berman Genesis Portfolio (Class A) (b)		937,829		18,306,429
PIMCO Inflation Protected Bond Portfolio (Class A) (a)		20,724,019		197,499,898
PIMCO Total Return Portfolio (Class A) (a)		34,526,483		342,157,451
SSGA Emerging Markets Enhanced Index Portfolio (Class A) (a)		2,660,269		27,108,146
T. Rowe Price Large Cap Growth Portfolio (Class A) (b)(c)		2,309,888		53,958,978
T. Rowe Price Large Cap Value Portfolio (Class A) (a)		4,472,812		128,101,327
T. Rowe Price Mid Cap Growth Portfolio (Class A) (a)		1,767,711		18,242,777
T. Rowe Price Small Cap Growth Portfolio (Class A) (b)		2,102,062		45,656,785
TCW Core Fixed Income Portfolio (Class A) (a)		29,463,549		259,573,864
VanEck Global Natural Resources Portfolio (Class A) (b)		6,004,465		73,374,568
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (b)		13,046,654		144,426,456
Western Asset Management U.S. Government Portfolio (Class A) (b)		27,368,394		287,641,819

Total Mutual Funds (Cost $3,773,790,197)				3,609,359,396

Total Investments— 100.0% (Cost $3,773,790,197)				3,609,359,396
Other assets and liabilities (net) — 0.0%				(1,222,521	)

Net Assets — 100.0%			$	3,608,136,875


(a)		A Portfolio of Brighthouse Funds Trust I.
(b)		A Portfolio of Brighthouse Funds Trust II.
(c)		Non-income producing security.

Transactions in Securities of Affiliated Issuers

A summary of the Portfolio’s transactions in the securities of affiliated issuers for the period ended March 31, 2024 is as follows.


Security Description	Market Value December 31, 2023		Purchases		Sales			Realized Gain/(Loss)			Change in Unrealized Appreciation/ (Depreciation)			Ending Value as of March 31, 2024
AB International Bond Portfolio (Class A)	$	127,861,243	$	43	$	(2,904,471	)	$	(731,076	)	$	2,456,890		$	126,682,629
Allspring Mid Cap Value Portfolio (Class A)		9,163,750		—		(806,858	)		28,205			770,162			9,155,259
Baillie Gifford International Stock Portfolio (Class A)		91,859,984		1,189		(5,009,085	)		(1,291,951	)		4,369,775			89,929,912
BlackRock Bond Income Portfolio (Class A)		346,667,373		9,392		(3,237,339	)		(620,761	)		(846,861	)		341,971,804
BlackRock Capital Appreciation Portfolio (Class A)		64,016,115		2,078		(9,399,031	)		(141,797	)		8,417,260			62,894,625
BlackRock High Yield Portfolio (Class A)		27,449,885		62		(859,004	)		(91,081	)		599,255			27,099,117
Brighthouse Small Cap Value Portfolio (Class A)		45,339,627		518		(2,433,441	)		545,541			2,408,061			45,860,306
Brighthouse/abrdn Emerging Markets Equity Portfolio (Class A)		27,314,604		1,951		(684,190	)		103,869			267,313			27,003,547
Brighthouse/Artisan International Portfolio (Class A)		64,269,012		—		(6,889,751	)		(489,652	)		6,503,071			63,392,680
Brighthouse/Artisan Mid Cap Value Portfolio (Class A)		9,153,818		—		(527,854	)		(64,507	)		579,138			9,140,595
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A)		61,414,917		6,368		(34,625	)		(1,124	)		1,238,808			62,624,344
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A)		105,629,356		21,863		(55,623	)		(6,015	)		726,815			106,316,396
Brighthouse/Templeton International Bond Portfolio (Class A)		91,859,914		22,198		(268,779	)		(123,163	)		(3,498,144	)		87,992,026
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A)		118,592,693		—		(7,228,687	)		(168,811	)		6,945,707			118,140,902
Brighthouse/Wellington Large Cap Research Portfolio (Class A)		82,595,851		23		(9,394,687	)		(192,159	)		8,940,975			81,950,003

BHFTII-61

Brighthouse Funds Trust II

Brighthouse Asset Allocation 40 Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Transactions in Securities of Affiliated Issuers—(Continued)


Security Description	Market Value December 31, 2023		Purchases		Sales			Realized Gain/(Loss)			Change in Unrealized Appreciation/ (Depreciation)			Ending Value as of March 31, 2024
CBRE Global Real Estate Portfolio (Class A)	$	27,360,570	$	3,804	$	(96,350	)	$	(8,187	)	$	(147,162	)	$	27,112,675
Harris Oakmark International Portfolio (Class A)		100,927,658		2,986		(1,351,549	)		59,919			87,032			99,726,046
Invesco Comstock Portfolio (Class A)		119,083,366		—		(10,536,677	)		481,776			9,814,142			118,842,607
Invesco Global Equity Portfolio (Class A)		36,693,637		236		(4,419,297	)		1,072,584			2,813,280			36,160,440
Invesco Small Cap Growth Portfolio (Class A)		18,196,356		539		(1,725,615	)		(1,226,831	)		3,032,482			18,276,931
Jennison Growth Portfolio (Class A)		45,662,043		2,505		(6,620,195	)		(8,482	)		5,863,166			44,899,037
JPMorgan Core Bond Portfolio (Class A)		136,710,302		3,354		(1,382,262	)		(172,222	)		(131,671	)		135,027,501
JPMorgan Small Cap Value Portfolio (Class A)		27,169,558		755		(1,120,491	)		(175,972	)		1,664,492			27,538,342
Loomis Sayles Growth Portfolio (Class A)		36,580,024		251		(4,849,325	)		1,371,718			2,904,245			36,006,913
Loomis Sayles Small Cap Growth Portfolio (Class A)		9,058,275		467		(525,133	)		(77,891	)		670,677			9,126,395
MFS Research International Portfolio (Class A)		64,301,840		—		(4,197,769	)		1,238,523			1,888,046			63,230,640
MFS Value Portfolio (Class A)		137,732,562		—		(12,059,208	)		(827,172	)		12,363,044			137,209,226
Neuberger Berman Genesis Portfolio (Class A)		18,100,628		531		(802,724	)		(67,998	)		1,075,992			18,306,429
PIMCO Inflation Protected Bond Portfolio (Class A)		197,126,582		7,433		(255,669	)		(45,176	)		666,728			197,499,898
PIMCO Total Return Portfolio (Class A)		347,106,255		5,936		(4,592,819	)		(1,131,829	)		769,908			342,157,451
SSGA Emerging Markets Enhanced Index Portfolio (Class A)		27,424,142		338		(1,463,870	)		(3,531	)		1,151,067			27,108,146
T. Rowe Price Large Cap Growth Portfolio (Class A)		54,738,381		540		(7,390,049	)		536,074			6,074,032			53,958,978
T. Rowe Price Large Cap Value Portfolio (Class A)		128,521,790		—		(11,034,676	)		(1,777,353	)		12,391,566			128,101,327
T. Rowe Price Mid Cap Growth Portfolio (Class A)		18,291,325		276		(1,535,339	)		(200,872	)		1,687,387			18,242,777
T. Rowe Price Small Cap Growth Portfolio (Class A)		45,400,120		1,232		(3,745,827	)		(671,114	)		4,672,374			45,656,785
TCW Core Fixed Income Portfolio (Class A)		265,041,430		22,522		(2,530,820	)		(321,761	)		(2,637,507	)		259,573,864
VanEck Global Natural Resources Portfolio (Class A)		68,666,043		4,863,764		(2,451,088	)		684,072			1,611,777			73,374,568
Western Asset Management Strategic Bond Opportunities Portfolio (Class A)		146,627,541		375		(3,503,490	)		(859,187	)		2,161,217			144,426,456
Western Asset Management U.S. Government Portfolio (Class A)		289,984,386		7,804		(1,523,186	)		(171,603	)		(655,582	)		287,641,819

	$	3,639,692,956	$	4,991,333	$	(139,446,853	)	$	(5,546,997	)	$	109,668,957		$	3,609,359,396

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	3,609,359,396	$	—	$	—	$	3,609,359,396
Total Investments	$	3,609,359,396	$	—	$	—	$	3,609,359,396

BHFTII-62

Brighthouse Funds Trust II

Brighthouse Asset Allocation 60 Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mutual Funds—100.0% of Net Assets


Security Description	Shares		Value

Affiliated Investment Companies—100.0%
AB International Bond Portfolio (Class A) (a)		29,809,602	$	241,159,679
Allspring Mid Cap Value Portfolio (Class A) (a)		2,019,505		24,759,131
Baillie Gifford International Stock Portfolio (Class A) (b)		31,247,502		338,410,447
BlackRock Bond Income Portfolio (Class A) (b)		7,200,498		661,509,759
BlackRock Capital Appreciation Portfolio (Class A) (b)		5,894,778		243,159,573
BlackRock High Yield Portfolio (Class A) (a)		10,909,588		81,931,005
Brighthouse Small Cap Value Portfolio (Class A) (a)		11,617,456		174,145,669
Brighthouse/abrdn Emerging Markets Equity Portfolio (Class A) (a)		16,285,581		145,755,953
Brighthouse/Artisan International Portfolio (Class A) (a)		25,895,652		292,879,827
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (b)		107,170		24,652,209
Brighthouse/Dimensional International Small Company Portfolio (Class A) (b)		9,426,466		97,846,715
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (a)		16,519,966		167,182,055
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) (a)		21,351,025		188,956,567
Brighthouse/Templeton International Bond Portfolio (Class A) (a)(c)		27,572,003		207,892,904
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (b)		13,720,046		414,482,593
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (a)		19,140,344		294,378,495
CBRE Global Real Estate Portfolio (Class A) (a)		13,569,717		142,210,632
Harris Oakmark International Portfolio (Class A) (a)		29,272,763		384,644,108
Invesco Comstock Portfolio (Class A) (a)		28,432,836		395,216,417
Invesco Global Equity Portfolio (Class A) (a)		3,657,679		97,404,003
Invesco Small Cap Growth Portfolio (Class A) (a)(c)		13,621,942		123,278,579
Jennison Growth Portfolio (Class A) (b)(c)		16,343,168		266,230,205
JPMorgan Core Bond Portfolio (Class A) (a)		26,130,949		236,485,092
JPMorgan Small Cap Value Portfolio (Class A) (a)		6,256,568		74,578,289
Loomis Sayles Growth Portfolio (Class A) (a)		15,338,840		267,509,372
Loomis Sayles Small Cap Growth Portfolio (Class A) (b)(c)		6,490,677		73,539,366
MFS Research International Portfolio (Class A) (a)		19,140,251		243,272,586
MFS Value Portfolio (Class A) (b)		32,590,568		493,747,110
Neuberger Berman Genesis Portfolio (Class A) (b)		3,805,425		74,281,904
PIMCO Inflation Protected Bond Portfolio (Class A) (a)		27,277,067		259,950,445
PIMCO Total Return Portfolio (Class A) (a)		59,737,974		592,003,325
SSGA Emerging Markets Enhanced Index Portfolio (Class A) (a)		9,562,532		97,442,203
T. Rowe Price Large Cap Growth Portfolio (Class A) (b)(c)		9,362,243		218,701,987
T. Rowe Price Large Cap Value Portfolio (Class A) (a)		15,546,485		445,251,317
T. Rowe Price Mid Cap Growth Portfolio (Class A) (a)		4,760,479		49,128,139
T. Rowe Price Small Cap Growth Portfolio (Class A) (b)		7,938,900		172,432,912
TCW Core Fixed Income Portfolio (Class A) (a)		54,952,196		484,128,851
VanEck Global Natural Resources Portfolio (Class A) (b)		24,336,717		297,394,686
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (b)		17,279,081		191,279,430
Western Asset Management U.S. Government Portfolio (Class A) (b)		35,912,260		377,437,852

Total Mutual Funds (Cost $9,740,892,319)				9,656,651,391

Total Investments— 100.0% (Cost $9,740,892,319)				9,656,651,391
Other assets and liabilities (net) — 0.0%				(2,659,733	)

Net Assets — 100.0%			$	9,653,991,658


(a)		A Portfolio of Brighthouse Funds Trust I.
(b)		A Portfolio of Brighthouse Funds Trust II.
(c)		Non-income producing security.

Transactions in Securities of Affiliated Issuers

A summary of the Portfolio’s transactions in the securities of affiliated issuers for the period ended March 31, 2024 is as follows.


Security Description	Market Value December 31, 2023		Purchases		Sales			Realized Gain/(Loss)			Change in Unrealized Appreciation/ (Depreciation)			Ending Value as of March 31, 2024
AB International Bond Portfolio (Class A)	$	238,668,128	$	1,499	$	(782,941	)	$	(205,781	)	$	3,478,774		$	241,159,679
Allspring Mid Cap Value Portfolio (Class A)		24,093,099		—		(1,469,323	)		181,067			1,954,288			24,759,131
Baillie Gifford International Stock Portfolio (Class A)		337,990,195		—		(10,996,836	)		385,644			11,031,444			338,410,447
BlackRock Bond Income Portfolio (Class A)		667,089,668		40,447		(2,802,916	)		(532,497	)		(2,284,943	)		661,509,759
BlackRock Capital Appreciation Portfolio (Class A)		238,374,372		—		(26,547,006	)		(581,877	)		31,914,084			243,159,573
BlackRock High Yield Portfolio (Class A)		81,344,380		293		(936,862	)		(131,823	)		1,655,017			81,931,005
Brighthouse Small Cap Value Portfolio (Class A)		167,331,531		2,713		(4,255,685	)		181,743			10,885,367			174,145,669
Brighthouse/abrdn Emerging Markets Equity Portfolio (Class A)		144,836,948		5,522		(1,051,786	)		(69,429	)		2,034,698			145,755,953
Brighthouse/Artisan International Portfolio (Class A)		286,809,442		—		(21,423,490	)		1,653,635			25,840,240			292,879,827
Brighthouse/Artisan Mid Cap Value Portfolio (Class A)		24,071,898		—		(793,228	)		59,244			1,314,295			24,652,209
Brighthouse/Dimensional International Small Company Portfolio (Class A)		96,568,627		931		(1,659,357	)		(552,586	)		3,489,100			97,846,715
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A)		164,260,464		5,033		(388,691	)		(14,131	)		3,319,380			167,182,055
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A)		187,955,153		12,224		(292,356	)		(36,655	)		1,318,201			188,956,567
Brighthouse/Templeton International Bond Portfolio (Class A)		217,279,411		31,006		(857,574	)		(501,143	)		(8,058,796	)		207,892,904
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A)		402,825,402		—		(11,822,851	)		580,261			22,899,781			414,482,593
Brighthouse/Wellington Large Cap Research Portfolio (Class A)		287,363,592		—		(23,985,285	)		(118,665	)		31,118,853			294,378,495
CBRE Global Real Estate Portfolio (Class A)		143,872,774		25,394		(872,332	)		(96,503	)		(718,701	)		142,210,632

BHFTII-63

Brighthouse Funds Trust II

Brighthouse Asset Allocation 60 Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Transactions in Securities of Affiliated Issuers—(Continued)


Security Description	Market Value December 31, 2023		Purchases		Sales			Realized Gain/(Loss)			Change in Unrealized Appreciation/ (Depreciation)			Ending Value as of March 31, 2024
Harris Oakmark International Portfolio (Class A)	$	385,871,485	$	29,482	$	(1,820,533	)	$	182,331		$	381,343		$	384,644,108
Invesco Comstock Portfolio (Class A)		385,552,120		—		(24,155,252	)		(3,478,549	)		37,298,098			395,216,417
Invesco Global Equity Portfolio (Class A)		96,473,866		—		(9,368,935	)		1,349,280			8,949,792			97,404,003
Invesco Small Cap Growth Portfolio (Class A)		119,726,183		—		(8,464,976	)		(4,837,074	)		16,854,446			123,278,579
Jennison Growth Portfolio (Class A)		261,984,294		—		(29,873,608	)		1,931,786			32,187,733			266,230,205
JPMorgan Core Bond Portfolio (Class A)		238,160,672		13,269		(1,163,436	)		(143,007	)		(382,406	)		236,485,092
JPMorgan Small Cap Value Portfolio (Class A)		71,642,627		882		(1,039,350	)		(446,433	)		4,420,563			74,578,289
Loomis Sayles Growth Portfolio (Class A)		264,686,225		—		(28,381,021	)		2,394,480			28,809,688			267,509,372
Loomis Sayles Small Cap Growth Portfolio (Class A)		71,666,153		12		(2,844,834	)		(1,122,249	)		5,840,284			73,539,366
MFS Research International Portfolio (Class A)		240,560,058		2,629		(9,201,856	)		1,941,991			9,969,764			243,272,586
MFS Value Portfolio (Class A)		478,173,048		—		(25,427,875	)		(7,538,272	)		48,540,209			493,747,110
Neuberger Berman Genesis Portfolio (Class A)		71,581,269		161		(1,338,785	)		14,243			4,025,016			74,281,904
PIMCO Inflation Protected Bond Portfolio (Class A)		260,507,792		18,041		(1,392,085	)		(248,380	)		1,065,077			259,950,445
PIMCO Total Return Portfolio (Class A)		596,556,786		30,447		(3,972,488	)		(842,162	)		230,742			592,003,325
SSGA Emerging Markets Enhanced Index Portfolio (Class A)		96,564,299		1,045		(3,199,627	)		(13,725	)		4,090,211			97,442,203
T. Rowe Price Large Cap Growth Portfolio (Class A)		213,829,648		—		(21,400,251	)		(200,144	)		26,472,734			218,701,987
T. Rowe Price Large Cap Value Portfolio (Class A)		434,324,996		—		(25,514,543	)		(4,888,314	)		41,329,178			445,251,317
T. Rowe Price Mid Cap Growth Portfolio (Class A)		48,101,632		—		(2,927,945	)		(416,258	)		4,370,710			49,128,139
T. Rowe Price Small Cap Growth Portfolio (Class A)		167,244,622		—		(9,740,578	)		763,934			14,164,934			172,432,912
TCW Core Fixed Income Portfolio (Class A)		492,677,177		38,320		(3,077,933	)		(388,961	)		(5,119,752	)		484,128,851
VanEck Global Natural Resources Portfolio (Class A)		285,770,630		5,876,129		(2,692,281	)		237,765			8,202,443			297,394,686
Western Asset Management Strategic Bond Opportunities Portfolio (Class A)		191,966,649		3,538		(2,407,967	)		(514,437	)		2,231,647			191,279,430
Western Asset Management U.S. Government Portfolio (Class A)		379,363,443		25,228		(870,208	)		(97,928	)		(982,683	)		377,437,852

	$	9,563,720,758	$	6,164,245	$	(331,214,886	)	$	(16,159,579	)	$	434,140,853		$	9,656,651,391

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

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 following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	9,656,651,391	$	—	$	—	$	9,656,651,391
Total Investments	$	9,656,651,391	$	—	$	—	$	9,656,651,391

BHFTII-64

Brighthouse Funds Trust II

Brighthouse Asset Allocation 80 Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mutual Funds—100.0% of Net Assets


Security Description	Shares		Value

Affiliated Investment Companies—100.0%
AB International Bond Portfolio (Class A) (a)		7,799,670	$	63,099,331
Allspring Mid Cap Value Portfolio (Class A) (a)		5,437,870		66,668,289
Baillie Gifford International Stock Portfolio (Class A) (b)		35,892,891		388,720,009
BlackRock Bond Income Portfolio (Class A) (b)		3,589,713		329,786,909
BlackRock Capital Appreciation Portfolio (Class A) (b)		6,340,709		261,554,226
BlackRock High Yield Portfolio (Class A) (a)		8,449,324		63,454,427
Brighthouse Small Cap Value Portfolio (Class A) (a)		14,867,406		222,862,416
Brighthouse/abrdn Emerging Markets Equity Portfolio (Class A) (a)		19,170,376		171,574,863
Brighthouse/Artisan International Portfolio (Class A) (a)		30,969,104		350,260,562
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (b)		95,904		22,060,893
Brighthouse/Dimensional International Small Company Portfolio (Class A) (b)		16,829,188		174,686,968
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (a)		8,180,434		82,785,994
Brighthouse/Templeton International Bond Portfolio (Class A) (a)(c)		16,111,299		121,479,191
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (b)		12,965,391		391,684,466
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (a)		20,016,208		307,849,279
CBRE Global Real Estate Portfolio (Class A) (a)		19,959,670		209,177,341
Frontier Mid Cap Growth Portfolio (Class A) (b)(c)		1,583,942		44,176,149
Harris Oakmark International Portfolio (Class A) (a)		30,548,583		401,408,375
Invesco Comstock Portfolio (Class A) (a)		31,880,157		443,134,185
Invesco Global Equity Portfolio (Class A) (a)		4,912,046		130,807,783
Invesco Small Cap Growth Portfolio (Class A) (a)(c)		21,979,839		198,917,543
Jennison Growth Portfolio (Class A) (b)(c)		23,952,962		390,193,756
JPMorgan Core Bond Portfolio (Class A) (a)		15,951,627		144,362,221
JPMorgan Small Cap Value Portfolio (Class A) (a)		11,163,737		133,071,751
Loomis Sayles Growth Portfolio (Class A) (a)		22,502,813		392,449,059
Loomis Sayles Small Cap Growth Portfolio (Class A) (b)(c)		13,547,099		153,488,629
MFS Research International Portfolio (Class A) (a)		23,932,174		304,177,936
MFS Value Portfolio (Class A) (b)		33,596,149		508,981,661
Morgan Stanley Discovery Portfolio (Class A) (a)(c)		3,630,385		22,036,438
Neuberger Berman Genesis Portfolio (Class A) (b)		1,134,437		22,144,205
PIMCO Inflation Protected Bond Portfolio (Class A) (a)		10,799,085		102,915,277
PIMCO Total Return Portfolio (Class A) (a)		27,184,469		269,398,088
SSGA Emerging Markets Enhanced Index Portfolio (Class A) (a)		12,817,498		130,610,307
T. Rowe Price Large Cap Growth Portfolio (Class A) (b)(c)		14,913,771		348,385,692
T. Rowe Price Large Cap Value Portfolio (Class A) (a)		15,487,866		443,572,490
T. Rowe Price Mid Cap Growth Portfolio (Class A) (a)		4,264,482		44,009,451
T. Rowe Price Small Cap Growth Portfolio (Class A) (b)		7,117,368		154,589,229
TCW Core Fixed Income Portfolio (Class A) (a)		25,652,684		226,000,148
VanEck Global Natural Resources Portfolio (Class A) (b)		21,602,953		263,988,085
Victory Sycamore Mid Cap Value Portfolio (Class A) (a)		1,048,460		22,237,828
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (b)		11,419,497		126,413,834

Total Mutual Funds (Cost $8,382,419,687)				8,649,175,284

Total Investments—100.0% (Cost $8,382,419,687)				8,649,175,284
Other assets and liabilities (net)—0.0%				(2,393,158	)

Net Assets—100.0%			$	8,646,782,126


(a)		A Portfolio of Brighthouse Funds Trust I.
(b)		A Portfolio of Brighthouse Funds Trust II.
(c)		Non-income producing security.

Transactions in Securities of Affiliated Issuers

A summary of the Portfolio’s transactions in the securities of affiliated issuers for the period ended March 31, 2024 is as follows.


Security Description	Market Value December 31, 2023		Purchases		Sales			Realized Gain/(Loss)			Change in Unrealized Appreciation/ (Depreciation)			Ending Value as of March 31, 2024
AB International Bond Portfolio (Class A)	$	62,243,310	$	17,129	$	(18,885	)	$	(5,050	)	$	862,827		$	63,099,331
Allspring Mid Cap Value Portfolio (Class A)		63,713,970		—		(2,760,386	)		285,745			5,428,960			66,668,289
Baillie Gifford International Stock Portfolio (Class A)		383,904,156		36		(8,225,680	)		1,993,562			11,047,935			388,720,009
BlackRock Bond Income Portfolio (Class A)		331,151,359		135,682		(100,714	)		(17,271	)		(1,382,147	)		329,786,909
BlackRock Capital Appreciation Portfolio (Class A)		253,059,281		—		(25,041,510	)		(3,157,400	)		36,693,855			261,554,226
BlackRock High Yield Portfolio (Class A)		62,279,758		10,720		(18,886	)		(2,124	)		1,184,959			63,454,427
Brighthouse Small Cap Value Portfolio (Class A)		211,035,527		1,977		(2,248,002	)		(297,370	)		14,370,284			222,862,416
Brighthouse/abrdn Emerging Markets Equity Portfolio (Class A)		169,301,292		25,077		(50,361	)		(9,610	)		2,308,465			171,574,863
Brighthouse/Artisan International Portfolio (Class A)		337,817,894		—		(20,179,386	)		1,573,149			31,048,905			350,260,562
Brighthouse/Artisan Mid Cap Value Portfolio (Class A)		21,208,298		—		(369,155	)		27,377			1,194,373			22,060,893
Brighthouse/Dimensional International Small Company Portfolio (Class A)		170,509,109		14,265		(1,043,283	)		(639,295	)		5,846,172			174,686,968
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A)		81,136,221		39,145		(25,181	)		(1,340	)		1,637,149			82,785,994
Brighthouse/Templeton International Bond Portfolio (Class A)		126,448,462		61,947		(37,771	)		(13,971	)		(4,979,476	)		121,479,191
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A)		375,981,542		—		(6,356,004	)		(44,152	)		22,103,080			391,684,466
Brighthouse/Wellington Large Cap Research Portfolio (Class A)		296,021,480		—		(20,365,541	)		2,346,405			29,846,935			307,849,279
CBRE Global Real Estate Portfolio (Class A)		212,283,000		87,110		(1,998,576	)		(399,265	)		(794,928	)		209,177,341
Frontier Mid Cap Growth Portfolio (Class A)		42,355,797		264		(2,724,506	)		(835,441	)		5,380,035			44,176,149
Harris Oakmark International Portfolio (Class A)		400,931,668		118,831		(251,162	)		3,404			605,634			401,408,375

BHFTII-65

Brighthouse Funds Trust II

Brighthouse Asset Allocation 80 Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Transactions in Securities of Affiliated Issuers—(Continued)


Security Description	Market Value December 31, 2023		Purchases		Sales			Realized Gain/(Loss)			Change in Unrealized Appreciation/ (Depreciation)			Ending Value as of March 31, 2024
Invesco Comstock Portfolio (Class A)	$	424,093,992	$	—	$	(18,550,373	)	$	(1,565,085	)	$	39,155,651		$	443,134,185
Invesco Global Equity Portfolio (Class A)		127,495,600		—		(10,444,355	)		2,499,391			11,257,147			130,807,783
Invesco Small Cap Growth Portfolio (Class A)		190,176,492		1,694		(10,519,275	)		(4,699,245	)		23,957,877			198,917,543
Jennison Growth Portfolio (Class A)		379,040,643		—		(38,635,297	)		2,640,773			47,147,637			390,193,756
JPMorgan Core Bond Portfolio (Class A)		144,666,492		58,670		(44,064	)		(5,788	)		(313,089	)		144,362,221
JPMorgan Small Cap Value Portfolio (Class A)		126,468,607		2,435		(451,078	)		(110,476	)		7,162,263			133,071,751
Loomis Sayles Growth Portfolio (Class A)		381,310,220		—		(34,369,757	)		(973,196	)		46,481,792			392,449,059
Loomis Sayles Small Cap Growth Portfolio (Class A)		147,653,646		2,262		(3,944,511	)		(105,108	)		9,882,340			153,488,629
MFS Research International Portfolio (Class A)		291,425,698		26,986		(1,954,525	)		541,416			14,138,361			304,177,936
MFS Value Portfolio (Class A)		484,236,916		—		(17,207,082	)		426,096			41,525,731			508,981,661
Morgan Stanley Discovery Portfolio (Class A)		20,934,360		335,446		(553,591	)		(882,089	)		2,202,312			22,036,438
Neuberger Berman Genesis Portfolio (Class A)		21,069,652		327		(121,892	)		1,151			1,194,967			22,144,205
PIMCO Inflation Protected Bond Portfolio (Class A)		102,575,021		47,664		(31,473	)		(2,094	)		326,159			102,915,277
PIMCO Total Return Portfolio (Class A)		269,656,011		95,541		(81,830	)		(17,713	)		(253,921	)		269,398,088
SSGA Emerging Markets Enhanced Index Portfolio (Class A)		126,343,174		2,402		(1,153,086	)		8,050			5,409,767			130,610,307
T. Rowe Price Large Cap Growth Portfolio (Class A)		334,922,596		—		(28,140,956	)		(1,548,256	)		43,152,308			348,385,692
T. Rowe Price Large Cap Value Portfolio (Class A)		424,959,879		556		(17,374,175	)		(4,287,255	)		40,273,485			443,572,490
T. Rowe Price Mid Cap Growth Portfolio (Class A)		42,403,066		—		(1,915,996	)		(232,064	)		3,754,445			44,009,451
T. Rowe Price Small Cap Growth Portfolio (Class A)		147,805,077		706		(6,504,900	)		(399,721	)		13,688,067			154,589,229
TCW Core Fixed Income Portfolio (Class A)		228,536,482		97,351		(69,243	)		(8,586	)		(2,555,856	)		226,000,148
VanEck Global Natural Resources Portfolio (Class A)		251,904,650		5,554,198		(953,901	)		207,657			7,275,481			263,988,085
Victory Sycamore Mid Cap Value Portfolio (Class A)		21,202,795		—		(877,230	)		—			1,912,263			22,237,828
Western Asset Management Strategic Bond Opportunities Portfolio (Class A)		125,309,764		25,730		(63,163	)		(13,714	)		1,155,217			126,413,834

	$	8,415,572,957	$	6,764,151	$	(285,776,742	)	$	(7,718,503	)	$	520,333,421		$	8,649,175,284

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

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 following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	8,649,175,284	$	—	$	—	$	8,649,175,284
Total Investments	$	8,649,175,284	$	—	$	—	$	8,649,175,284

BHFTII-66

Brighthouse Funds Trust II

Brighthouse/Artisan Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—96.8% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—1.5%
CAE, Inc. (a)		597,158	$	12,325,341


Air Freight & Logistics—1.9%
Expeditors International of Washington, Inc. (b)		123,689		15,036,872


Automobile Components—2.8%
BorgWarner, Inc. (b)		233,223		8,102,167
Gentex Corp. (b)		397,713		14,365,394

				22,467,561


Banks—9.5%
Fifth Third Bancorp (b)		460,502		17,135,279
First Citizens BancShares, Inc. - Class A		19,772		32,327,220
M&T Bank Corp. (b)		106,370		15,470,453
WaFd, Inc. (b)		377,337		10,954,093

				75,887,045


Capital Markets—2.1%
Moelis & Co. - Class A (b)		297,759		16,903,779


Consumer Staples Distribution & Retail—5.2%
Dollar General Corp.		69,945		10,915,617
Kroger Co.		305,355		17,444,931
Sysco Corp.		163,591		13,280,317

				41,640,865


Distributors—2.1%
LKQ Corp.		321,774		17,185,949


Electric Utilities—3.8%
Alliant Energy Corp.		281,681		14,196,722
OGE Energy Corp. (b)		471,260		16,164,218

				30,360,940


Electrical Equipment—2.5%
nVent Electric PLC		263,199		19,845,205


Electronic Equipment, Instruments & Components—3.6%
Vontier Corp.		629,142		28,537,881


Energy Equipment & Services—2.4%
NOV, Inc.		982,409		19,176,624


Entertainment—2.8%
Electronic Arts, Inc.		100,368		13,315,822
Warner Bros Discovery, Inc. (a)		1,050,208		9,168,316

				22,484,138


Financial Services—2.0%
Corebridge Financial, Inc. (b)		567,304		16,298,644


Food Products—2.1%
Tyson Foods, Inc.—Class A		283,729		16,663,404


Security Description	Shares		Value

Ground Transportation—3.5%
U-Haul Holding Co. (a)(b)		41,566	$	2,807,368
U-Haul Holding Co. (Non-Voting Shares) (b)		374,098		24,944,854

				27,752,222


Health Care Equipment & Supplies—4.7%
Baxter International, Inc.		455,647		19,474,353
Dentsply Sirona, Inc. (b)		540,930		17,953,467

				37,427,820


Health Care Providers & Services—2.3%
Centene Corp. (a)		240,681		18,888,645


Hotels, Restaurants & Leisure—6.0%
Expedia Group, Inc. (a)		152,596		21,020,099
Marriott International, Inc. - Class A		56,653		14,294,118
Vail Resorts, Inc. (b)		58,272		12,984,750

				48,298,967


Insurance—6.7%
Arch Capital Group Ltd. (a)		194,617		17,990,396
Globe Life, Inc. (b)		192,082		22,352,582
Progressive Corp.		64,559		13,352,092

				53,695,070


Interactive Media & Services—1.7%
IAC, Inc. (a)		258,146		13,769,508


Life Sciences Tools & Services—4.5%
Bio-Rad Laboratories, Inc. - Class A (a)		49,833		17,235,740
Waters Corp. (a)(b)		54,853		18,882,048

				36,117,788


Machinery—1.9%
Otis Worldwide Corp.		152,560		15,144,631


Media—6.3%
Cable One, Inc. (b)		35,562		15,047,349
News Corp. - Class A (b)		787,836		20,625,547
Omnicom Group, Inc. (b)		156,275		15,121,169

				50,794,065


Real Estate Management & Development—0.2%
Jones Lang LaSalle, Inc. (a)		8,458		1,650,071


Retail REITs—1.9%
NNN REIT, Inc. (b)		352,238		15,054,652


Semiconductors & Semiconductor Equipment—3.8%
Analog Devices, Inc.		152,484		30,159,810


Software—1.7%
Check Point Software Technologies Ltd. (a)		85,308		13,991,365

BHFTII-67

Brighthouse Funds Trust II

Brighthouse/Artisan Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares/ Principal Amount*		Value

Specialized REITs—4.4%
Lamar Advertising Co. - Class A (b)		189,994	$	22,687,184
Public Storage		42,367		12,288,972

				34,976,156


Specialty Retail—1.6%
AutoNation, Inc. (a)(b)		78,693		13,029,987


Technology Hardware, Storage & Peripherals—1.3%
NetApp, Inc.		99,591		10,454,067

Total Common Stocks (Cost $535,742,516)				776,019,072


Escrow Shares—0.0%

Wireless Telecommunication Services—0.0%
GCI Liberty, Inc. (a)(c)(d) (Cost $0)		108,185		0


Short-Term Investment—3.5%

Repurchase Agreement—3.5%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $27,925,658; collateralized by U.S. Treasury Note at 0.625%, maturing 01/15/26, with a market value of $28,476,381.		27,917,903		27,917,903

Total Short-Term Investments (Cost $27,917,903)				27,917,903


Securities Lending Reinvestments(e)—11.1%

Certificates of Deposit—0.9%
Mizuho Bank Ltd. 5.730%, SOFR + 0.400%, 04/18/24 (f)		1,000,000		1,000,154
Nordea Bank Abp 5.450%, SOFR + 0.120%, 07/15/24 (f)		2,000,000		1,999,872
Oversea-Chinese Banking Corp. Ltd. 5.450%, SOFR + 0.120%, 07/19/24 (f)		2,000,000		1,999,940
Royal Bank of Canada 5.880%, FEDEFF PRV + 0.550%, 09/20/24 (f)		1,000,000		1,001,966
Sumitomo Mitsui Trust Bank Ltd. 5.730%, SOFR + 0.400%, 04/24/24 (f)		1,000,000		1,000,216

				7,002,148


Commercial Paper—0.5%
Australia & New Zealand Banking Group Ltd. 5.640%, 04/18/24		1,000,000		996,837
5.660%, SOFR + 0.330%, 04/18/24 (f)		1,000,000		1,000,098
Ciesco LLC 5.340%, 04/01/24		2,000,000		1,998,792

				3,995,727

Security Description	Principal Amount*		Value

Repurchase Agreements—7.6%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $10,804,905; collateralized by various Common Stock with an aggregate market value of $12,029,275.		10,800,000	$	10,800,000
BofA Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.320%, due on 04/01/24 with a maturity value of $12,885,519; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 4.750%, maturity dates ranging from 06/30/24 - 11/15/43, and an aggregate market value of $13,137,406.		12,879,809		12,879,809
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/24 at 5.620%, due on 05/03/24 with a maturity value of $4,021,856; collateralized by various Common Stock with an aggregate market value of $4,400,000.		4,000,000		4,000,000
Repurchase Agreement dated 03/29/24 at 5.870%, due on 09/30/24 with a maturity value of $2,060,331; collateralized by various Common Stock with an aggregate market value of $2,200,001.		2,000,000		2,000,000
National Bank of Canada Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $10,010,597; collateralized by various Common Stock with an aggregate market value of $11,141,386.		10,000,000		10,000,000
Repurchase Agreement dated 03/29/24 at 5.470%, due on 04/01/24 with a maturity value of $3,001,368; collateralized by various Common Stock with an aggregate market value of $3,347,508.		3,000,000		3,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $12,205,571; collateralized by various Common Stock with an aggregate market value of $13,609,253.		12,200,000		12,200,000
Royal Bank of Canada Toronto Repurchase Agreement dated 03/29/24 at 5.590%, due on 05/03/24 with a maturity value of $1,005,435; collateralized by various Common Stock with an aggregate market value of $1,111,284.		1,000,000		1,000,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $5,002,258; collateralized by various Common Stock with an aggregate market value of $5,500,828.		5,000,000		5,000,000

				60,879,809


Time Deposits—0.7%
Banco Santander SA (NY) 5.310%, 04/01/24		2,000,000		2,000,000
Credit Agricole Corporate & Investment Bank (NY) 5.300%, 04/01/24		2,000,000		2,000,000
DZ Bank AG (NY) 5.290%, 04/01/24		2,000,000		2,000,000

				6,000,000

BHFTII-68

Brighthouse Funds Trust II

Brighthouse/Artisan Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments(e)—(Continued)


Security Description	Shares		Value

Mutual Funds—1.4%
AB Government Money Market Portfolio, Institutional Class 5.210% (g)		500,000	$	500,000
BlackRock Liquidity Funds FedFund, Institutional Shares 5.200% (g)		2,000,000		2,000,000
Dreyfus Treasury Obligations Cash Management Fund, Institutional Class 5.200% (g)		2,000,000		2,000,000
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (g)		1,000,000		1,000,000
Morgan Stanley Liquidity Funds Government Portfolio, Institutional Shares 5.220% (g)		2,000,000		2,000,000
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 5.260% (g)		1,000,000		1,000,000
STIT-Government & Agency Portfolio, Institutional Class 5.230% (g)		3,000,000		3,000,000

				11,500,000

Total Securities Lending Reinvestments (Cost $89,377,146)				89,377,684

Total Investments—111.4% (Cost $653,037,565)				893,314,659
Other assets and liabilities (net)—(11.4)%				(91,681,276	)

Net Assets—100.0%			$	801,633,383


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.
(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $115,139,967 and the collateral received consisted of cash in the amount of $89,349,953 and non-cash collateral with a value of $27,613,286. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)		Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent less than 0.05% of net assets.
(d)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(e)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(f)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. 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.
(g)		The rate shown represents the annualized seven-day yield as of March 31, 2024.

Glossary of Abbreviations

Index Abbreviations


(FEDEFF PRV)—		Effective Federal Funds Rate
(SOFR)—		Secured Overnight Financing Rate

Other Abbreviations


(REIT)—		Real Estate Investment Trust

BHFTII-69

Brighthouse Funds Trust II

Brighthouse/Artisan Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	776,019,072	$	—		$	—	$	776,019,072
Total Escrow Shares*		—		—			0		0
Total Short-Term Investment*		—		27,917,903			—		27,917,903
Securities Lending Reinvestments
Certificates of Deposit		—		7,002,148			—		7,002,148
Commercial Paper		—		3,995,727			—		3,995,727
Repurchase Agreements		—		60,879,809			—		60,879,809
Time Deposits		—		6,000,000			—		6,000,000
Mutual Funds		11,500,000		—			—		11,500,000
Total Securities Lending Reinvestments		11,500,000		77,877,684			—		89,377,684
Total Investments	$	787,519,072	$	105,795,587		$	0	$	893,314,659

Collateral for Securities Loaned (Liability)	$	—	$	(89,349,953	)	$	—	$	(89,349,953	)


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-70

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—98.5% of Net Assets


Security Description	Shares		Value

Australia—6.8%
A2B Australia Ltd.		55,813	$	52,366
Accent Group Ltd.		97,699		129,252
Adairs Ltd.		41,549		69,587
Adbri Ltd. (a)		108,171		220,654
Ainsworth Game Technology Ltd. (a)		51,616		40,852
Alkane Resources Ltd. (a)		122,642		50,380
Alliance Aviation Services Ltd. (a)		6,026		11,394
Altium Ltd.		2,086		88,664
Alumina Ltd. (a)		273,675		254,807
AMA Group Ltd. (a)		332,422		11,916
AMP Ltd.		476,602		363,713
Ansell Ltd.		22,008		352,994
Appen Ltd. (a)		21,547		8,238
Arafura Rare Earths Ltd. (a)		376,915		50,393
ARB Corp. Ltd.		22,263		601,743
Argosy Minerals Ltd. (a)		61,527		5,421
ARN Media Ltd.		82,651		47,426
Articore Group Ltd. (a)		43,202		15,554
AUB Group Ltd.		25,058		486,285
Audinate Group Ltd. (a)		14,833		202,753
Aurelia Metals Ltd. (a)		407,982		41,210
Aussie Broadband Ltd. (a)		38,030		88,729
Austal Ltd.		105,389		151,101
Australian Agricultural Co. Ltd. (a)		78,371		69,606
Australian Clinical Labs Ltd.		26,737		46,872
Australian Ethical Investment Ltd.		7,596		24,424
Australian Finance Group Ltd.		54,872		58,297
Australian Strategic Materials Ltd. (a)		36,700		33,011
Auswide Bank Ltd.		11,793		33,738
AVJennings Ltd. (a)		14,202		3,285
AVZ Minerals Ltd. (a) (b) (c)		403,512		42,308
Baby Bunting Group Ltd.		24,951		34,150
Bank of Queensland Ltd.		127,227		524,520
Bapcor Ltd.		85,877		353,811
Beach Energy Ltd.		317,481		380,333
Bega Cheese Ltd.		82,207		224,482
Bellevue Gold Ltd. (a)		246,272		305,956
Black Rock Mining Ltd. (a)		79,829		3,745
Boss Energy Ltd. (a)		95,194		295,945
Bravura Solutions Ltd. (a)		144,124		131,714
Breville Group Ltd.		25,536		457,495
Brickworks Ltd.		12,229		227,087
Bubs Australia Ltd. (a)		46,469		5,151
BWX Ltd. (a)(b)(c)		32,748		800
Calidus Resources Ltd. (a)		51,482		3,857
Capitol Health Ltd.		260,324		40,728
Capral Ltd.		5,292		32,071
Capricorn Metals Ltd. (a)		63,797		215,994
Carnarvon Energy Ltd. (a)		136,527		16,905
Cash Converters International Ltd.		152,939		22,458
Catapult Group International Ltd. (a)		33,605		34,029
Cedar Woods Properties Ltd.		19,138		59,802
Centrebet International Ltd. (a)		9,600		0
Cettire Ltd. (a)		38,961		102,845
Challenger Ltd.		80,750		375,173
Champion Iron Ltd.		70,983		343,266
Chrysos Corp. Ltd. (a)		5,357		23,971

Australia—(Continued)
City Chic Collective Ltd. (a)		43,372		11,590
Clinuvel Pharmaceuticals Ltd.		9,453		88,465
Clover Corp. Ltd.		39,945		12,623
Coast Entertainment Holdings Ltd. (a)		113,950		39,358
Codan Ltd.		31,190		220,945
Collins Foods Ltd.		30,579		202,078
Cooper Energy Ltd. (a)		753,059		108,293
Core Lithium Ltd. (a)		66,314		6,710
Corporate Travel Management Ltd.		28,366		314,544
Credit Corp. Group Ltd.		20,160		243,721
CSR Ltd.		156,422		899,295
Data#3 Ltd.		49,016		264,504
De Grey Mining Ltd. (a)		318,679		265,812
Deterra Royalties Ltd.		32,220		103,524
Develop Global Ltd. (a)		8,766		13,610
Dicker Data Ltd.		13,151		92,368
Domain Holdings Australia Ltd.		72,641		155,291
Domino’s Pizza Enterprises Ltd.		13,284		376,315
Downer EDI Ltd.		150,888		503,110
Duratec Ltd.		11,066		8,546
Eagers Automotive Ltd.		35,943		331,711
Earlypay Ltd. (a)		54,160		6,706
Elanor Investor Group		5,934		4,563
Elders Ltd.		46,965		287,102
Elixir Energy Ltd. (a)		29,923		1,384
Emeco Holdings Ltd.		105,907		49,001
Emerald Resources NL (a)		94,981		183,211
EML Payments Ltd. (a)		62,760		50,261
Energy Transition Minerals Ltd. (a)		349,524		8,645
Energy World Corp. Ltd. (a)		472,609		4,565
EQT Holdings Ltd.		5,157		98,794
Euroz Hartleys Group Ltd.		24,476		13,323
EVT Ltd.		28,526		231,713
Fiducian Group Ltd.		3,121		15,473
Finbar Group Ltd. (a)		6,909		3,117
Firefinch Ltd. (a)(b)(c)		39,761		972
FleetPartners Group Ltd. (a)		82,973		203,304
Fleetwood Ltd.		35,042		34,139
Flight Centre Travel Group Ltd.		34,913		497,139
Frontier Digital Ventures Ltd. (a)		10,683		4,046
G8 Education Ltd.		241,144		188,603
Galan Lithium Ltd. (a)		33,517		9,083
Gold Road Resources Ltd.		245,281		255,653
GR Engineering Services Ltd.		5,075		7,541
GrainCorp Ltd. - Class A		58,664		315,164
Grange Resources Ltd.		120,000		34,409
GUD Holdings Ltd.		43,884		337,508
GWA Group Ltd.		64,632		112,883
Hansen Technologies Ltd.		51,497		163,450
Harvey Norman Holdings Ltd.		65,742		220,652
Hastings Technology Metals Ltd. (a)		7,646		2,143
Healius Ltd. (a)		195,166		168,530
Helia Group Ltd.		88,585		226,140
HUB24 Ltd.		19,005		525,431
Humm Group Ltd.		115,759		37,714
IDM International Ltd. (a) (b) (c)		1,969		0
Iluka Resources Ltd.		32,765		154,277

BHFTII-71

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Australia—(Continued)
Imdex Ltd.		138,217	$	210,035
Immutep Ltd. (ADR) (a)		8,886		20,704
Incitec Pivot Ltd.		6,974		13,135
Infomedia Ltd.		109,692		127,312
Inghams Group Ltd.		86,621		202,653
Insignia Financial Ltd.		184,126		303,453
Integral Diagnostics Ltd.		46,301		68,031
ioneer Ltd. (a)		304,527		32,185
IPH Ltd.		64,147		264,134
IRESS Ltd. (a)		52,976		286,653
IVE Group Ltd.		19,754		28,063
Johns Lyng Group Ltd.		45,109		188,448
Jumbo Interactive Ltd.		12,118		135,424
Jupiter Mines Ltd.		439,415		64,623
Karoon Energy Ltd. (a)		216,834		305,809
Kelsian Group Ltd.		24,039		90,822
Kogan.com Ltd. (a)		16,956		87,189
Lendlease Corp. Ltd.		28,025		117,879
Leo Lithium Ltd. (a) (b) (c)		28,400		3,498
Lifestyle Communities Ltd.		24,327		249,531
Lindsay Australia Ltd.		15,723		11,425
Link Administration Holdings Ltd.		158,207		229,908
Lovisa Holdings Ltd.		13,735		298,747
Lycopodium Ltd.		6,179		47,113
MA Financial Group Ltd.		14,408		45,913
Macmahon Holdings Ltd.		380,170		55,788
Macquarie Technology Group Ltd. (a)		972		50,421
Mader Group Ltd.		3,508		14,586
Magellan Financial Group Ltd.		22,860		147,806
Mayne Pharma Group Ltd. (a)		22,607		106,654
McMillan Shakespeare Ltd.		20,041		256,470
McPherson’s Ltd.		39,600		14,055
Megaport Ltd. (a)		25,601		250,872
Mesoblast Ltd. (a)		66,849		24,166
Metals X Ltd. (a)		147,577		34,142
Metcash Ltd.		172,096		438,529
MMA Offshore Ltd. (a)		78,350		133,462
Monadelphous Group Ltd.		32,335		298,830
Monash IVF Group Ltd.		52,109		49,061
Mount Gibson Iron Ltd. (a)		158,334		44,384
Myer Holdings Ltd.		234,884		124,894
MyState Ltd.		25,651		61,238
Nanosonics Ltd. (a)		62,508		112,357
Navigator Global Investments Ltd.		52,466		56,055
Netwealth Group Ltd.		28,212		389,160
New Hope Corp. Ltd.		120,389		364,829
nib holdings Ltd.		121,489		623,368
Nick Scali Ltd.		21,771		218,504
Nickel Industries Ltd.		203,875		108,109
Nine Entertainment Co. Holdings Ltd.		208,760		232,652
Novonix Ltd. (a)		53,945		30,237
NRW Holdings Ltd.		134,771		257,673
Nufarm Ltd.		95,753		344,183
Nuix Ltd. (a)		8,673		12,598
Objective Corp. Ltd.		2,117		17,783
OceanaGold Corp.		194,311		438,959
OFX Group Ltd. (a)		76,506		81,878

Australia—(Continued)
Omni Bridgeway Ltd. (a)		75,128		73,992
oOh!media Ltd.		130,777		151,802
Orora Ltd.		395,438		701,466
Pacific Current Group Ltd.		12,733		84,633
Pacific Smiles Group Ltd.		13,431		14,004
Paladin Energy Ltd. (a)		612,944		547,306
Panoramic Resources Ltd. (a) (b) (c)		278,314		4,715
Pantoro Ltd. (a)		210,078		8,692
Peet Ltd.		88,199		69,271
PeopleIN Ltd.		9,237		6,634
Perenti Ltd.		204,417		130,698
Perpetual Ltd.		24,902		408,247
Perseus Mining Ltd.		340,886		482,894
PEXA Group Ltd. (a)		21,038		185,934
Pinnacle Investment Management Group Ltd.		20,949		158,799
Platinum Asset Management Ltd.		124,443		87,818
PointsBet Holdings Ltd.		9,123		4,905
Poseidon Nickel Ltd. (a)		238,025		1,004
Praemium Ltd. (a)		98,955		28,374
Premier Investments Ltd.		17,241		368,669
Propel Funeral Partners Ltd.		9,117		33,210
PSC Insurance Group Ltd.		21,994		77,727
PWR Holdings Ltd.		16,772		126,273
QANTM Intellectual Property Ltd.		14,173		14,589
Qube Holdings Ltd.		30,379		67,646
Ramelius Resources Ltd.		236,020		289,394
Red 5 Ltd. (a)		667,508		166,464
Regis Healthcare Ltd.		26,109		68,376
Regis Resources Ltd. (a) (b) (c)		214,118		283,924
Reject Shop Ltd.		12,421		36,866
Resolute Mining Ltd. (a)		677,338		191,763
Retail Food Group Ltd. (a)		218,228		10,665
Ridley Corp. Ltd.		96,057		155,869
RPMGlobal Holdings Ltd. (a)		32,785		47,257
Sandfire Resources Ltd. (a)		122,571		711,235
Select Harvests Ltd. (a)		34,996		101,482
Servcorp Ltd.		21,215		52,293
Service Stream Ltd.		154,571		125,910
Seven West Media Ltd. (a)		319,979		39,304
SG Fleet Group Ltd.		27,529		52,946
Shaver Shop Group Ltd.		18,090		13,324
Sigma Healthcare Ltd.		498,984		421,125
Silver Lake Resources Ltd. (a)		202,549		165,536
Silver Mines Ltd. (a)		84,025		9,318
SmartGroup Corp. Ltd.		33,331		211,288
SolGold PLC (a)		36,239		4,864
Solvar Ltd.		54,558		38,152
Southern Cross Media Group Ltd.		76,997		47,919
SRG Global Ltd.		42,479		22,162
St Barbara Ltd. (a)		208,312		23,935
Star Entertainment Group Ltd. (a)		653,049		246,061
Strandline Resources Ltd. (a) (b) (c)		43,753		2,024
Strike Energy Ltd. (a)		245,153		41,566
Sunland Group Ltd. (a)(b)(c)		40,150		1,439
Super Retail Group Ltd.		47,270		496,156
Superloop Ltd. (a)		59,252		52,197
Syrah Resources Ltd. (a)		206,663		66,680

BHFTII-72

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Australia—(Continued)
Tabcorp Holdings Ltd.		406,397	$	200,403
Technology One Ltd.		42,791		473,271
Telix Pharmaceuticals Ltd. (a)		3,673		30,858
Temple & Webster Group Ltd. (a)		18,467		157,846
Ten Sixty Four Ltd. (a) (b) (c)		60,972		4,371
Terracom Ltd.		54,002		8,447
Tribune Resources Ltd.		2,377		5,882
Tuas Ltd. (a)		15,616		39,792
Tyro Payments Ltd. (a)		64,496		43,298
Ventia Services Group Pty. Ltd.		110,267		276,673
Virgin Australia Holdings Pty. Ltd. (a) (b) (c)		968,773		1
Vista Group International Ltd. (a)		33,201		39,670
Viva Energy Group Ltd.		217,302		525,214
Vulcan Energy Resources Ltd. (a)		9,635		18,044
Webjet Ltd. (a)		84,765		487,794
West African Resources Ltd. (a)		238,805		188,870
Westgold Resources Ltd.		123,130		212,032
Whitehaven Coal Ltd.		24,556		113,616
Zip Co. Ltd. (a)		40,088		36,325

				36,317,906


Austria—1.5%
A-TEC Industries AG (a) (b) (c)		1		0
Agrana Beteiligungs AG (d)		3,399		51,327
ams-OSRAM AG (a)		219,841		254,896
ANDRITZ AG		17,117		1,067,406
AT&S Austria Technologie & Systemtechnik AG (d)		5,424		113,125
BAWAG Group AG		18,118		1,148,283
CA Immobilien Anlagen AG (d)		8,328		294,239
DO & Co. AG		2,066		308,342
Eurotelesites AG (a)		6,880		27,427
EVN AG		6,679		176,770
FACC AG (a) (d)		6,291		43,166
Immofinanz AG (a) (d)		5,772		140,863
Kapsch TrafficCom AG (a)		1,870		17,149
Kontron AG		14,178		312,595
Lenzing AG (a)(d)		4,153		143,483
Mayr Melnhof Karton AG (d)		2,085		259,581
Oesterreichische Post AG (d)		4,583		156,445
Palfinger AG		4,392		109,160
POLYTEC Holding AG (d)		6,228		22,508
Porr AG		2,768		42,405
Raiffeisen Bank International AG		21,261		424,606
Rosenbauer International AG (a)(d)		1,414		43,020
Schoeller-Bleckmann Oilfield Equipment AG		2,803		134,333
Semperit AG Holding (d)		2,077		27,473
Telekom Austria AG		27,521		230,118
UBM Development AG		1,083		21,966
UNIQA Insurance Group AG		31,178		269,314
Vienna Insurance Group AG Wiener Versicherung Gruppe		7,619		237,629
voestalpine AG		25,493		715,336
Wienerberger AG		26,096		950,074
Zumtobel Group AG (d)		8,536		53,082

				7,796,121


Belgium—1.5%
Ackermans & van Haaren NV		5,491		959,292
Ageas SA		2,951		136,687
AGFA-Gevaert NV (a) (d)		40,080		57,528
Atenor (d)		6,098		43,780
Azelis Group NV		6,227		131,470
Barco NV		19,609		322,929
Bekaert SA		8,889		455,601
Biocartis Group NV (a) (b) (c)		16,240		0
bpost SA		18,928		70,716
Cie d’Entreprises CFE		2,249		17,373
Colruyt Group NV		11,650		537,305
Deceuninck NV		27,313		66,442
Deme Group NV		1,881		300,701
Econocom Group SA		20,343		46,638
EVS Broadcast Equipment SA		3,873		139,266
Fagron		14,385		273,994
Galapagos NV (a)		9,086		291,227
Gimv NV		5,220		250,470
Greenyard NV		5,819		31,946
Immobel SA (d)		1,276		39,878
Ion Beam Applications		6,507		91,967
Jensen-Group NV		1,035		41,213
Kinepolis Group NV (d)		3,776		173,253
Lotus Bakeries NV		86		830,392
MDxHealth SA (a)		843		2,183
Melexis NV		5,164		418,506
Ontex Group NV (a)		16,729		141,427
Orange Belgium SA (a)		4,348		64,308
Proximus SADP		28,286		228,779
Recticel SA		11,526		135,789
Roularta Media Group NV		1,629		17,753
Sipef NV		1,593		95,320
Solvay SA (d)		11,546		315,243
Tessenderlo Group SA		5,859		153,306
Umicore SA		18,570		400,270
Van de Velde NV		1,970		72,223
VGP NV		1,667		190,976
Viohalco SA		22,715		136,951
What’s Cooking BV		153		13,238
X-Fab Silicon Foundries SE (a)		14,349		108,538

				7,804,878


Cambodia—0.0%
NagaCorp Ltd. (a)		254,719		111,354


Canada—10.8%
5N Plus, Inc. (a)		33,732		124,514
Acadian Timber Corp. (d)		3,800		48,757
ADF Group, Inc.		2,900		19,547
Advantage Energy Ltd. (a)		43,525		317,469
Aecon Group, Inc.		17,346		217,825
Africa Oil Corp.		57,099		99,482
Ag Growth International, Inc. (d)		5,820		263,641
AGF Management Ltd. - Class B		16,613		100,570
Aimia, Inc. (a)		24,635		46,558
AirBoss of America Corp. (d)		3,761		16,521
Alamos Gold, Inc. - Class A		77,137		1,137,223

BHFTII-73

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Canada—(Continued)
Alaris Equity Partners Income (d)		5,355	$	67,602
Algoma Central Corp.		4,710		51,532
Algonquin Power & Utilities Corp. (d)		6,751		42,666
Altius Minerals Corp.		10,760		163,241
Altus Group Ltd. (d)		11,988		459,147
Americas Gold & Silver Corp. (a) (d)		4,400		958
Amerigo Resources Ltd.		35,000		40,050
Andlauer Healthcare Group, Inc.		2,269		71,141
Andrew Peller Ltd. - Class A (d)		11,417		33,630
Aritzia, Inc. (a)		23,017		635,514
Ascot Resources Ltd. (a)		16,500		9,136
Atco Ltd. - Class I (d)		19,446		541,367
Athabasca Oil Corp. (a)		144,824		559,174
ATS Corp. (a)		20,733		697,656
Aurora Cannabis, Inc. (a)		872		3,828
AutoCanada, Inc. (a) (d)		6,228		123,590
B2Gold Corp.		293,723		767,383
Badger Infrastructure Solution		9,962		369,195
Ballard Power Systems, Inc. (a)		37,678		104,745
Baytex Energy Corp. (d)		65,383		236,036
Birchcliff Energy Ltd. (d)		68,088		268,421
Bird Construction, Inc. (d)		18,612		256,120
Black Diamond Group Ltd.		19,812		130,905
BlackBerry Ltd. (a) (d)		74,728		206,249
BMTC Group, Inc.		5,387		59,098
Bombardier, Inc. - Class A (a)		584		25,032
Bombardier, Inc. - Class B (a)		21,454		921,007
Boralex, Inc. - Class A		25,118		530,713
Boyd Group Services, Inc. (d)		4,537		959,283
Bridgemarq Real Estate Services (d)		3,500		36,097
Calfrac Well Services Ltd. (a)		3,087		9,025
Calian Group Ltd.		2,846		119,341
Canaccord Genuity Group, Inc.		27,412		180,109
Canada Goose Holdings, Inc. (a) (d)		14,525		175,150
Canadian Western Bank		24,440		508,810
Canfor Corp. (a)		15,511		195,927
Canfor Pulp Products, Inc. (a)		11,097		13,845
Capital Power Corp. (d)		31,332		883,833
Capstone Copper Corp. (a)		122,839		781,715
Cardinal Energy Ltd. (d)		32,459		169,658
Cascades, Inc.		20,426		149,137
Celestica, Inc. (a)		29,280		1,315,568
Centerra Gold, Inc.		50,985		301,118
CES Energy Solutions Corp.		73,142		254,327
CI Financial Corp. (d)		42,212		539,745
Cineplex, Inc. (a) (d)		6,558		35,682
Cipher Pharmaceuticals, Inc. (a)		2,300		15,112
Clairvest Group, Inc.		200		10,752
Cogeco Communications, Inc.		3,380		149,917
Cogeco, Inc.		1,609		67,589
Colliers International Group, Inc.		5,004		611,642
Computer Modelling Group Ltd.		28,920		217,132
Converge Technology Solutions Corp.		3,570		15,339
Corby Spirit & Wine Ltd.		3,957		37,655
Corus Entertainment, Inc. - B Shares (d)		61,870		33,343
Crescent Point Energy Corp.		149,673		1,224,912
Crew Energy, Inc. (a) (d)		41,970		144,078

Canada—(Continued)
Cronos Group, Inc. (a)		15,221		39,727
Definity Financial Corp.		9,869		314,310
Denison Mines Corp. (a) (d)		181,271		354,633
Dexterra Group, Inc.		11,442		46,881
Doman Building Materials Group Ltd.		19,304		117,715
Dorel Industries, Inc. - Class B (a)		8,626		44,068
DREAM Unlimited Corp. - Class A (d)		6,072		86,919
Dundee Precious Metals, Inc.		45,872		348,811
Dye & Durham Ltd.		3,429		39,795
E-L Financial Corp. Ltd.		677		544,274
ECN Capital Corp.		3,113		4,803
Eldorado Gold Corp. (a)		51,016		717,098
Endeavour Silver Corp. (a) (d)		34,348		82,665
Enerflex Ltd.		29,289		170,387
Enerplus Corp.		56,230		1,104,633
Enghouse Systems Ltd.		12,678		285,748
Ensign Energy Services, Inc. (a)		39,626		75,768
EQB, Inc.		8,098		507,862
Equinox Gold Corp. (a) (d)		56,499		340,453
ERO Copper Corp. (a) (d)		13,490		260,130
Evertz Technologies Ltd. (d)		8,149		89,157
Exchange Income Corp. (d)		5,351		195,584
Exco Technologies Ltd.		7,732		42,355
Extendicare, Inc. (d)		23,362		131,595
Fiera Capital Corp. (d)		22,157		135,113
Finning International, Inc.		38,632		1,135,388
Firm Capital Mortgage Investment Corp.		9,574		81,000
First Majestic Silver Corp. (d)		54,590		320,497
First Mining Gold Corp. (a)		50,000		4,430
First National Financial Corp.		4,907		136,282
Fission Uranium Corp. (a) (d)		114,725		82,155
Fortuna Silver Mines, Inc. (a)		79,418		294,912
Freehold Royalties Ltd. (d)		35,012		377,118
Galiano Gold, Inc. (a) (d)		23,027		31,960
Gamehost, Inc.		4,952		36,156
GDI Integrated Facility Services, Inc. (a)		3,200		92,630
Gibson Energy, Inc. (d)		40,325		686,497
goeasy Ltd.		3,895		458,325
GoGold Resources, Inc. (a) (d)		28,473		25,855
GoldMoney, Inc. (a)		2,199		13,604
Guardian Capital Group Ltd. - Class A (d)		5,200		183,423
Haivision Systems, Inc. (a)		4,800		18,143
Hanfeng Evergreen, Inc. (a) (b) (c)		12,100		0
Headwater Exploration, Inc.		48,021		271,914
Heroux-Devtek, Inc. (a)		8,353		112,171
High Liner Foods, Inc. (d)		6,007		60,090
Hudbay Minerals, Inc.		84,922		594,338
IAMGOLD Corp. (a) (d)		118,555		395,606
Imperial Metals Corp. (a)		19,966		31,691
Information Services Corp.		2,900		59,282
Innergex Renewable Energy, Inc. (d)		35,108		207,089
InPlay Oil Corp. (d)		5,900		10,367
Interfor Corp. (a)		13,232		206,703
International Petroleum Corp. (a) (d)		17,308		206,223
International Tower Hill Mines Ltd. (a)		21,604		14,354
Jamieson Wellness, Inc. (d)		12,357		243,208
Journey Energy, Inc. (a)		100		246

BHFTII-74

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Canada—(Continued)
K-Bro Linen, Inc.		3,219	$	83,389
K92 Mining, Inc. (a) (d)		27,548		128,126
Karora Resources, Inc. (a)		28,791		107,976
Kelt Exploration Ltd. (a)		46,751		208,810
Kinaxis, Inc. (a)		519		59,006
Knight Therapeutics, Inc. (a)		19,152		74,937
KP Tissue, Inc. (d)		1,400		9,137
Labrador Iron Ore Royalty Corp. (d)		16,600		353,924
Largo, Inc. (a)(d)		8,317		13,692
Lassonde Industries, Inc. - Class A		900		98,840
Laurentian Bank of Canada (d)		11,504		237,970
Leon’s Furniture Ltd.		7,239		120,726
Lightspeed Commerce, Inc. (a) (d)		32,213		452,915
Lightstream Resources Ltd. (a) (b) (c)		108,373		0
Linamar Corp. (d)		10,944		581,719
Lucara Diamond Corp. (a)		110,136		25,612
Lundin Gold, Inc.		11,400		160,242
MAG Silver Corp. (a)		7,165		75,806
Magellan Aerospace Corp.		5,794		34,091
Mainstreet Equity Corp. (d)		1,261		174,932
Major Drilling Group International, Inc. (a)		22,977		152,665
Manitok Energy, Inc. (a) (b) (c)		122		0
Maple Leaf Foods, Inc.		21,240		348,264
Martinrea International, Inc.		19,001		170,575
Mattr Corp. (a)		21,791		285,710
Maxim Power Corp. (a)		2,800		9,467
MDF Commerce, Inc. (a)		4,176		17,665
Medical Facilities Corp.		9,161		69,998
MEG Energy Corp. (a)		23,281		534,524
Melcor Developments Ltd.		3,120		26,465
Methanex Corp.		15,340		684,544
Morguard Corp.		1,400		122,311
MTY Food Group, Inc.		5,720		215,912
Mullen Group Ltd.		23,154		248,198
Neo Performance Materials, Inc.		4,300		19,999
New Gold, Inc. (a)		172,247		289,929
NFI Group, Inc. (a) (d)		13,975		132,781
North American Construction Group Ltd.		7,963		177,067
North West Co., Inc.		13,971		404,829
Northland Power, Inc.		1,748		28,558
Nuvei Corp.		5,221		165,088
NuVista Energy Ltd. (a)		44,817		393,065
Obsidian Energy Ltd. (a) (d)		5,354		44,010
Onex Corp.		3,923		293,874
Organigram Holdings, Inc. (a)		9,249		19,885
Orla Mining Ltd. (a) (d)		25,466		96,516
Osisko Gold Royalties Ltd.		42,855		703,353
Osisko Mining, Inc. (a)		54,809		112,487
Paramount Resources Ltd. - Class A (d)		20,590		417,865
Parex Resources, Inc. (d)		27,059		432,289
Park Lawn Corp.		8,256		101,787
Parkland Corp.		29,921		952,930
Pason Systems, Inc.		24,116		278,450
Peyto Exploration & Development Corp. (d)		48,991		539,984
PHX Energy Services Corp. (d)		12,350		82,421
Pizza Pizza Royalty Corp.		6,998		71,398
Polaris Renewable Energy, Inc.		5,300		45,662

Canada—(Continued)
Pollard Banknote Ltd.		2,690		71,016
PrairieSky Royalty Ltd. (d)		56,452		1,105,660
Precision Drilling Corp. (a)		3,394		228,338
Premium Brands Holdings Corp. (d)		11,855		774,551
Primo Water Corp.		42,105		766,535
Propel Holdings, Inc.		1,050		12,790
Pulse Seismic, Inc.		13,500		22,325
Quarterhill, Inc. (a) (d)		37,345		51,556
Questerre Energy Corp. - Class A (a) (d)		83,569		13,264
Real Matters, Inc. (a)		16,705		75,475
RF Capital Group, Inc. (a) (d)		1,730		9,234
Richelieu Hardware Ltd. (d)		14,790		465,139
Rogers Sugar, Inc. (d)		28,139		110,724
Russel Metals, Inc.		18,222		606,301
Sandstorm Gold Ltd.		14,000		73,500
Savaria Corp. (d)		10,600		131,155
Seabridge Gold, Inc. (a)		12,210		184,615
Secure Energy Services, Inc.		69,364		570,971
Sienna Senior Living, Inc.		22,176		219,705
SilverCrest Metals, Inc. (a) (d)		11,918		79,425
Sleep Country Canada Holdings, Inc.		10,704		236,356
SNC-Lavalin Group, Inc.		17,999		736,145
SNDL, Inc. (a)		11,204		22,464
Source Energy Services Ltd. (a)		1,300		13,283
Spartan Delta Corp. (d)		16,736		46,827
Spin Master Corp.		8,748		223,842
Sprott, Inc. (d)		6,042		222,937
SSR Mining, Inc. (d)		49,993		222,552
Stelco Holdings, Inc.		9,844		324,633
Stella-Jones, Inc.		16,794		979,459
Steppe Gold Ltd. (a)		6,300		3,442
StorageVault Canada, Inc.		13,770		52,455
SunOpta, Inc. (a) (d)		7,292		49,957
Superior Plus Corp. (d)		46,786		348,507
Surge Energy, Inc. (d)		12,100		68,872
Tamarack Valley Energy Ltd.		85,898		243,511
Taseko Mines Ltd. (a) (d)		80,286		172,480
TECSYS, Inc. (d)		172		4,899
TerraVest Industries, Inc. (d)		1,600		70,872
Tidewater Midstream & Infrastructure Ltd. (d)		79,200		49,699
Timbercreek Financial Corp.		21,651		123,556
Topaz Energy Corp.		7,015		115,488
Torex Gold Resources, Inc. (a)		22,294		328,185
Total Energy Services, Inc. (d)		11,886		89,328
TransAlta Corp.		61,878		396,973
Transat AT, Inc. (a)		3,600		10,179
Transcontinental, Inc. - Class A (d)		19,220		208,723
Trevali Mining Corp. (a) (b) (c)		9,060		0
Trican Well Service Ltd.		66,213		202,860
Tricon Residential, Inc.		63,428		707,071
Triple Flag Precious Metals Corp.		3,866		55,861
Trisura Group Ltd. (a)		10,823		332,788
Vecima Networks, Inc.		2,500		36,728
Vermilion Energy, Inc. (d)		40,554		504,230
VersaBank		3,000		31,729
Vitalhub Corp. (a)		5,716		25,404
Wajax Corp.		7,185		173,770

BHFTII-75

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Canada—(Continued)
Well Health Technologies Corp. (a) (d)		15,517	$	42,042
Wesdome Gold Mines Ltd. (a)		43,307		322,592
Western Forest Products, Inc. (d)		105,262		48,957
Westshore Terminals Investment Corp. (d)		10,951		207,128
Whitecap Resources, Inc. (d)		86,909		657,648
WildBrain Ltd. (a) (d)		28,340		23,224
Winpak Ltd.		8,452		252,958
Yellow Pages Ltd.		3,727		27,129
Zenith Capital Corp. (a) (b) (c)		12,830		1,925

				57,679,547


China—0.2%
AustAsia Group Ltd. (a)		3,254		525
Bund Center Investment Ltd.		107,700		30,310
China Gold International Resources Corp. Ltd.		79,013		503,984
China Sunsine Chemical Holdings Ltd.		70,000		20,483
CITIC Telecom International Holdings Ltd.		438,000		141,643
First Sponsor Group Ltd.		9,490		7,731
Fountain SET Holdings Ltd. (a)		280,000		15,565
Guotai Junan International Holdings Ltd.		806,600		54,643
KRP Development Holdings Ltd.		35,000		3,530
Neo-Neon Holdings Ltd. (a)		322,500		16,622
SITC International Holdings Co. Ltd.		165,000		301,477
Theme International Holdings Ltd. (a)		170,000		13,467
TI Fluid Systems PLC		28,317		51,426

				1,161,406


Colombia—0.0%
Canacol Energy Ltd. (d)		7,932		26,937
Frontera Energy Corp. (a)		10,147		61,951
Gran Tierra Energy, Inc. (a)		11,221		80,271

				169,159


Denmark—2.7%
ALK-Abello AS (a) (d)		35,460		638,254
Alm Brand AS		214,470		408,012
Ambu AS - Class B (a)		29,193		481,931
Bang & Olufsen AS (a)		30,627		41,421
Bavarian Nordic AS (a)		19,123		432,562
Better Collective AS (a) (d)		5,321		142,917
cBrain AS		1,326		73,016
Chemometec AS (d)		3,943		243,632
Columbus AS		20,865		24,267
D/S Norden AS		5,677		231,472
Dfds AS		9,415		273,649
FLSmidth & Co. AS (a)		12,789		639,778
GN Store Nord AS (a)		19,401		515,227
H Lundbeck AS		44,313		213,193
H Lundbeck AS - A Shares		2,530		10,500
H&H International AS - Class B (a)		4,441		44,857
Harboes Bryggeri AS - Class B (a)		1,454		18,362
ISS AS		36,366		663,013
Jeudan AS		2,360		75,532
Jyske Bank AS		11,298		956,198
Matas AS		9,436		160,237
Netcompany Group AS (a)		7,774		322,661

Denmark—(Continued)
Nilfisk Holding AS (a)		3,340		68,487
NKT AS (a)		13,077		1,082,566
NNIT AS (a)		2,656		41,731
North Media AS (a)		679		6,323
NTG Nordic Transport Group AS - Class A (a)		2,118		85,891
Parken Sport & Entertainment AS		2,351		43,355
Per Aarsleff Holding AS		5,304		265,173
Ringkjoebing Landbobank AS		6,894		1,208,205
Rockwool AS - A Shares (a) (d)		216		70,302
Rockwool AS - B Shares (a)		1,116		368,332
Royal Unibrew AS		13,170		870,632
RTX AS (a) (d)		2,486		34,962
Scandinavian Tobacco Group AS - Class A		14,284		256,030
Schouw & Co. AS		3,487		268,404
Solar AS - B Shares		1,534		73,796
SP Group AS		716		22,472
Spar Nord Bank AS		20,052		335,039
Sparekassen Sjaelland-Fyn AS		1,358		41,989
Sydbank AS		16,079		834,094
TCM Group AS (a)		502		3,739
Tivoli AS		844		90,355
Topdanmark AS		11,821		505,911
UIE PLC		6,060		191,140
Vestjysk Bank AS		23,730		16,010
Zealand Pharma AS (a)		8,958		888,662

				14,284,291


Faeroe Islands—0.0%
BankNordik P		1,109		24,547


Finland—2.0%
Aktia Bank OYJ		11,350		122,647
Alma Media OYJ		10,487		111,539
Anora Group OYJ		1,398		8,081
Apetit OYJ		1,205		17,806
Aspo OYJ		7,386		48,436
Atria OYJ		3,290		34,429
Bittium OYJ		8,034		46,978
Cargotec OYJ - B Shares (a)		8,074		562,283
Citycon OYJ (d)		21,486		88,689
Digia OYJ		6,625		36,737
Enento Group OYJ		3,892		72,430
eQ OYJ		382		5,647
F-Secure OYJ		26,373		53,366
Finnair OYJ (a)		39,441		124,739
Fiskars OYJ Abp		6,971		129,054
Harvia OYJ		2,955		122,167
HKScan OYJ - A Shares (a)		6,704		4,947
Huhtamaki OYJ (d)		22,314		934,782
Ilkka OYJ		5,725		20,135
Kamux Corp. (d)		4,328		27,057
Kemira OYJ		27,235		514,581
Kesko OYJ - A Shares		1,003		18,998
Kesko Oyj - B Shares		15,901		296,888
Kojamo OYJ (a)		26,601		315,447
Konecranes OYJ		15,630		810,618

BHFTII-76

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Finland—(Continued)
Lassila & Tikanoja OYJ		6,984	$	66,305
Lindex Group OYJ (a)		9,321		32,461
Marimekko OYJ		4,363		58,508
Metsa Board OYJ - Class B		33,424		253,173
Nokian Renkaat OYJ		26,162		246,343
Olvi OYJ - A Shares		4,019		133,531
Oriola OYJ		4,196		5,019
Oriola OYJ - B Shares		32,135		35,200
Orion OYJ - Class A		7,027		262,180
Orion Oyj - Class B		14,294		532,950
Outokumpu OYJ (d)		83,940		364,694
Ponsse OYJ		3,208		81,666
Puuilo OYJ		3,270		34,943
QT Group OYJ (a)		2,738		225,702
Raisio OYJ - V Shares		30,401		67,238
Rapala VMC OYJ (a)		8,902		26,413
Revenio Group OYJ (a)		5,309		145,933
Sanoma OYJ		20,268		148,900
Talenom OYJ (d)		2,085		13,354
Teleste OYJ (a)		2,149		7,372
Terveystalo OYJ		14,772		120,143
TietoEVRY OYJ		21,451		453,829
Tokmanni Group Corp.		13,877		227,265
Vaisala OYJ - A Shares		5,101		208,846
Valmet OYJ (d)		33,362		877,704
Wartsila Oyj Abp		90,963		1,381,796
WithSecure OYJ (a)		26,373		30,274
YIT OYJ		27,133		56,950

				10,627,173


France—4.7%
ABC arbitrage (d)		2,865		11,838
AKWEL SADIR		2,629		41,749
ALD SA		20,207		142,678
Altamir		7,426		196,261
Alten SA		6,873		1,001,832
Arkema SA		3,897		409,922
Assystem SA		1,779		112,855
Atos SE (a) (d)		18,990		38,884
Aubay		803		35,253
Axway Software SA		2,132		60,487
Bastide le Confort Medical (a)		938		14,269
Beneteau SACA		11,313		166,876
Bigben Interactive (a)		4,507		13,590
Boiron SA		1,382		50,124
Bonduelle SCA		4,120		33,382
Catana Group (d)		2,793		14,155
CBo Territoria		2,864		11,463
Cegedim SA (a)		2,295		32,187
CGG SA (a)		189,243		81,893
Cie des Alpes		6,228		90,677
Cie Plastic Omnium SE		15,132		196,952
Clariane SE (d)		19,303		30,674
Coface SA		31,535		498,227
Derichebourg SA		22,712		107,770
Ekinops SAS (a)		1,670		6,720

France—(Continued)
Electricite de Strasbourg SA		329		40,630
Elior Group SA (a) (d)		29,385		78,408
Elis SA		50,853		1,154,815
Equasens		582		32,200
Eramet SA (d)		2,619		198,970
Esso SA Francaise		753		101,745
Etablissements Maurel et Prom SA		12,067		73,056
Eurazeo SE		9,383		821,943
Eutelsat Communications SACA (a) (d)		44,681		194,794
Exel Industries SA - A Shares		618		37,203
Fnac Darty SA (d)		3,176		99,378
Foraco International SA (a)		17,535		37,153
Forvia SE (a)		34,097		516,609
Gaztransport Et Technigaz SA		7,574		1,132,860
GEA (d)		165		17,356
GL Events SACA		2,648		54,503
Groupe Crit SA		1,062		82,258
Guerbet (d)		1,201		42,534
Guillemot Corp.		770		4,028
Haulotte Group SA (a)		5,337		13,700
ID Logistics Group SACA (a)		796		303,575
Imerys SA		7,588		258,363
Infotel SA		342		17,340
Interparfums SA		742		41,760
IPSOS SA		12,147		856,049
Jacquet Metals SACA		2,954		58,703
JCDecaux SE (a)		13,978		271,360
Kaufman & Broad SA		3,970		115,620
La Francaise De L’energie SACA (a)		252		9,457
La Francaise des Jeux SAEM		11,811		481,413
Laurent-Perrier		1,255		163,174
Lectra		1,389		48,478
LISI SA		1,686		43,018
LNA Sante SA		1,534		33,847
Lumibird (a) (d)		562		7,957
Maisons du Monde SA		7,475		34,967
Manitou BF SA		3,242		88,607
Mersen SA		6,204		243,749
Metropole Television SA		6,596		98,326
Nacon SA (a)		2,928		4,043
Neoen SA		9,906		280,349
Nexans SA		6,484		676,974
Nexity SA (d)		9,433		96,387
NRJ Group		9,690		82,170
Oeneo SA (d)		2,122		23,576
Plastiques Du Val De Loire (a)		1,576		4,727
Prodways Group SA (a)		657		528
Quadient SA		9,003		185,077
Recylex SA (a) (b) (c)		3,335		0
Rexel SA		46,344		1,250,654
Robertet SA (d)		19		16,356
Rubis SCA		22,814		805,445
Samse SACA		107		21,298
Savencia SA		1,728		95,444
SCOR SE		40,311		1,394,765
SEB SA		4,310		552,747
Seche Environnement SACA		1,198		146,294

BHFTII-77

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

France—(Continued)
SMCP SA (a)		1,230	$	3,090
Societe BIC SA		5,989		427,693
Societe LDC SADIR		280		41,077
SOITEC (a)		3,326		343,964
Sopra Steria Group		4,352		1,052,928
SPIE SA		31,212		1,171,899
Stef SA		1,051		154,651
Sword Group		1,364		55,379
Synergie SE		3,366		115,814
Technip Energies NV		30,538		773,132
Teleperformance SE		1,206		116,945
Television Francaise 1 SA		9,749		89,033
Thermador Groupe (d)		1,800		171,472
Tikehau Capital SCA		7,508		164,839
Totalenergies EP Gabon (a)		324		58,655
Trigano SA		2,311		406,258
Ubisoft Entertainment SA (a)		18,776		395,371
Valeo SE		49,990		624,552
Vallourec SACA (a)		36,022		667,551
Vantiva SA (a) (d)		29,526		4,465
Verallia SA		15,618		606,956
Vetoquinol SA		376		40,357
Vicat SACA		4,477		176,538
VIEL & Cie SA		4,205		39,918
Virbac SACA		388		144,746
Voltalia SA (a)		1,924		13,607
Vranken-Pommery Monopole SA		958		16,330
Wavestone		1,238		74,899

				24,899,577


Georgia—0.2%
Bank of Georgia Group PLC		13,336		851,035


Germany—5.8%
1&1 AG		13,083		226,089
7C Solarparken AG (d)		12,415		41,659
Adesso SE		561		66,094
Adtran Networks SE (a)		908		19,554
AIXTRON SE		1,553		41,050
All for One Group SE		498		31,275
Allgeier SE		2,942		63,635
Amadeus Fire AG		1,153		149,501
Aroundtown SA (a)(d)		121,547		256,307
Atoss Software AG		1,110		328,063
Aurubis AG		9,219		648,235
Auto1 Group SE (a)		9,285		43,908
Basler AG		3,660		42,628
BayWa AG (d)		4,695		130,211
Bechtle AG		19,131		1,010,936
Bertrandt AG		1,942		95,632
Bijou Brigitte AG		1,351		55,534
Bilfinger SE		9,061		423,233
Borussia Dortmund GmbH & Co. KGaA (a) (d)		26,685		96,435
BRANICKS Group AG (a) (d)		13,461		20,648
CANCOM SE		10,426		310,899
Ceconomy AG (a)		47,148		94,663
Security Description	Shares		Value

Germany—(Continued)
CENIT AG		3,413	$	46,212
Cewe Stiftung & Co. KGaA		1,828		202,742
CompuGroup Medical SE & Co. KGaA		7,186		221,110
CTS Eventim AG & Co. KGaA		13,878		1,234,389
Data Modul AG Produktion Und Vertrieb Von Elektronischen Systemen		138		5,539
Dermapharm Holding SE		3,957		139,354
Deutsche Beteiligungs AG (d)		4,577		127,186
Deutsche Pfandbriefbank AG (d)		43,005		229,339
Deutz AG		26,653		169,237
Dr Hoenle AG (a) (d)		2,084		43,392
Draegerwerk AG & Co. KGaA		1,062		51,904
Duerr AG		15,842		366,085
DWS Group GmbH & Co. KGaA		5,057		222,453
Eckert & Ziegler SE		3,953		159,761
Elmos Semiconductor SE (d)		1,709		136,257
ElringKlinger AG (d)		8,918		58,447
Encavis AG (a)		28,569		519,543
Energiekontor AG (d)		1,621		112,084
EuroEyes International Eye Clinic Ltd. - Class C		10,000		5,929
Evotec SE (a)		5,019		78,356
Fielmann Group AG		6,684		306,907
flatexDEGIRO AG (a)		11,582		129,905
FORTEC Elektronik AG		253		6,768
Fraport AG Frankfurt Airport Services Worldwide (a)		8,815		464,668
Freenet AG		33,937		954,922
Friedrich Vorwerk Group SE		938		15,825
FUCHS SE		8,457		332,130
GEA Group AG		29,728		1,256,892
Gerresheimer AG		9,767		1,099,972
Gesco SE		2,953		55,598
GFT Technologies SE		5,130		149,411
Grand City Properties SA (a)		31,748		363,069
Grenke AG (d)		1,610		42,027
H&R GmbH & Co. KGaA		4,195		21,996
Hamburger Hafen und Logistik AG (a)		8,624		154,498
Hawesko Holding SE		223		6,976
Heidelberger Druckmaschinen AG (a) (d)		84,200		94,485
HelloFresh SE (a)		30,689		218,191
Hensoldt AG (d)		10,012		468,771
HOCHTIEF AG		5,762		669,519
Hornbach Holding AG & Co. KGaA		2,658		213,611
HUGO BOSS AG		18,161		1,070,242
Indus Holding AG		4,083		116,961
Init Innovation in Traffic Systems SE		1,794		70,643
Instone Real Estate Group SE		9,568		92,195
IVU Traffic Technologies AG		1,432		24,533
Jenoptik AG		16,935		526,199
JOST Werke SE		2,840		145,846
K&S AG (d)		39,216		611,686
KION Group AG		13,725		722,347
Knaus Tabbert AG		160		7,680
Koenig & Bauer AG (a)		4,373		58,969
Krones AG		4,349		575,738
KSB SE & Co. KGaA		82		59,694
KWS Saat SE & Co. KGaA (d)		3,539		189,187
Lanxess AG		22,664		606,636
LEG Immobilien SE (a)		15,200		1,304,781

BHFTII-78

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Germany—(Continued)
Leifheit AG		2,964	$	47,322
Manz AG (a) (d)		1,272		13,777
Medigene AG (a) (d)		2,446		5,565
Medios AG (a)		702		12,404
METRO AG (d)		25,342		137,931
MLP SE		22,156		134,084
Mutares SE & Co. KGaA (d)		1,486		59,151
Nagarro SE (a) (d)		2,942		253,141
New Work SE		895		65,076
Nexus AG		254		15,428
Nordex SE (a)		1,282		16,815
Norma Group SE		10,153		188,721
OHB SE (a)		1,607		75,938
Patrizia SE		15,140		140,822
Pfeiffer Vacuum Technology AG		269		45,275
PNE AG		5,362		77,505
ProSiebenSat.1 Media SE (d)		44,354		311,639
PSI Software SE (d)		1,476		36,624
Puma SE		3,146		142,606
PVA TePla AG (a)		3,712		75,250
PWO AG		822		26,957
q.beyond AG (a)		24,973		15,356
R Stahl AG (a)		1,594		39,210
Rational AG		143		123,244
SAF-Holland SE		9,928		202,343
Salzgitter AG		8,260		215,668
Scout24 SE		599		45,148
Secunet Security Networks AG (d)		391		67,647
SGL Carbon SE (a) (d)		8,945		67,110
Siltronic AG (d)		4,688		415,742
Sirius Real Estate Ltd.		241,184		298,174
Sixt SE (d)		4,289		427,745
SMA Solar Technology AG (a)		2,279		131,523
Softwareone Holding AG		16,598		305,837
Stabilus SE		6,982		444,282
STRATEC SE (d)		1,280		55,505
Stroeer SE & Co. KGaA		8,363		508,603
Suedzucker AG		18,380		263,509
SUESS MicroTec SE		6,216		245,110
Surteco Group SE		2,209		33,609
Synlab AG (a) (d)		2,964		31,832
TAG Immobilien AG (a)		52,366		716,086
Takkt AG		10,211		147,379
TeamViewer SE (a)		34,398		512,269
Technotrans SE (d)		2,191		42,781
thyssenkrupp AG		116,223		623,681
TUI AG (a)		7,282		59,942
United Internet AG		12,843		289,034
Verbio SE (d)		6,241		141,685
Vossloh AG		3,146		155,119
Wacker Chemie AG (d)		2,017		227,518
Wacker Neuson SE		8,944		165,583
Washtec AG (d)		3,673		156,344
Westwing Group SE (a) (d)		1,155		9,841
Wuestenrot & Wuerttembergische AG		4,932		70,871
Zeal Network SE		1,619		60,259

				30,732,606


Ghana—0.0%
Tullow Oil PLC (a) (d)		415,488		163,417


Greece—0.0%
Okeanis Eco Tankers Corp. (a) (d)		1,944		57,672


Greenland—0.0%
GronlandsBANKEN AS		140		13,178


Guernsey, Channel Islands—0.0%
Raven Property Group Ltd. (a) (b) (c)		112,611		0


Hong Kong—1.7%
Aceso Life Science Group Ltd. (a)		1,001,000		17,982
Aeon Credit Service Asia Co. Ltd.		44,000		31,141
Allied Group Ltd.		382,000		78,090
APAC Resources Ltd.		94,156		11,549
Apollo Future Mobility Group Ltd. (a)		17,400		1,111
Applied Development Holdings Ltd. (a)		150,000		1,169
Asia Financial Holdings Ltd.		88,000		38,002
Asia Standard International Group Ltd. (a)		296,000		14,749
ASMPT Ltd.		62,100		781,560
Associated International Hotels Ltd.		14,000		9,480
Bank of East Asia Ltd.		103,823		123,693
Bel Global Resources Holdings Ltd. (a) (b) (c)		520,000		0
BOCOM International Holdings Co. Ltd. (a)		117,000		4,192
Brightoil Petroleum Holdings Ltd. (a) (b) (c)		591,000		0
Build King Holdings Ltd.		160,000		23,728
Burwill Holdings Ltd. (a) (b) (c)		1,566,000		0
C-Mer Eye Care Holdings Ltd. (a)		74,000		26,800
Cadeler AS (a)		3,200		15,635
Cafe de Coral Holdings Ltd.		94,000		96,283
Century City International Holdings Ltd. (a)		616,000		18,413
Chen Hsong Holdings		150,000		25,851
Cheuk Nang Holdings Ltd.		108,566		22,193
Chevalier International Holdings Ltd.		75,139		40,128
China Best Group Holding Ltd. (a)		63,000		1,191
China Energy Development Holdings Ltd. (a)		3,376,000		35,738
China Motor Bus Co. Ltd.		4,800		34,620
China Solar (a) (b) (c)		162,000		0
China Star Entertainment Ltd. (a)		378,000		30,422
Chinese Estates Holdings Ltd. (a)		151,000		19,506
Chinney Investments Ltd.		8,000		756
Chow Sang Sang Holdings International Ltd.		94,000		99,687
Chuang’s China Investments Ltd. (a)		511,500		7,515
Chuang’s Consortium International Ltd. (a)		382,357		20,029
CK Life Sciences International Holdings, Inc.		304,000		13,004
CNT Group Ltd.		246,000		9,900
Convenience Retail Asia Ltd.		36,000		2,806
Convoy, Inc. (a) (b) (c)		1,314,000		5,255
Cowell e Holdings, Inc. (a)		39,000		93,330
Crystal International Group Ltd.		29,500		12,061
CSC Holdings Ltd. (a)		4,927,500		16,994
CSI Properties Ltd.		2,274,023		27,524
Dah Sing Banking Group Ltd.		112,271		79,899
Dah Sing Financial Holdings Ltd.		41,460		95,328
Dickson Concepts International Ltd.		87,500		54,554

BHFTII-79

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Hong Kong—(Continued)
DMX Technologies Group Ltd. (a) (b) (c)		186,000	$	0
Dynamic Holdings Ltd.		20,000		18,640
Eagle Nice International Holdings Ltd.		80,000		47,426
EC Healthcare		59,000		9,894
EcoGreen International Group Ltd. (a) (b) (c)		118,800		5,408
Emperor International Holdings Ltd.		529,250		25,216
Emperor Watch & Jewellery Ltd.		1,520,000		34,585
ENM Holdings Ltd. (a)		412,000		15,002
Esprit Holdings Ltd. (a)		504,275		7,349
Fairwood Holdings Ltd.		26,500		27,311
Far East Consortium International Ltd.		360,687		47,054
First Pacific Co. Ltd.		542,000		272,594
Fosun Tourism Group (a)		14,400		6,561
G-Resources Group Ltd.		123,180		37,986
Genting Hong Kong, Ltd. (a) (b) (c)		327,000		0
Get Nice Financial Group Ltd.		104,000		8,370
Giordano International Ltd.		322,000		84,824
Glorious Sun Enterprises Ltd.		393,000		42,189
Gold Fin Holdings (a)(b)(c)		214,000		0
Gold Peak Technology Group Ltd. (a)		277,714		19,870
Golden Resources Development International Ltd.		264,000		13,994
Good Resources Holdings, Ltd. (a) (b) (c)		420,000		0
GR Life Style Company Ltd. (a)		82,000		3,195
Great Eagle Holdings Ltd.		49,491		69,475
Guoco Group Ltd.		1,000		11,388
Hang Lung Group Ltd.		176,000		202,638
Hanison Construction Holdings Ltd.		148,009		11,535
Harbour Centre Development Ltd. (a)		88,000		66,898
HK Electric Investments & HK Electric Investments Ltd.		99,500		62,166
HKBN Ltd.		167,500		62,705
HKR International Ltd.		343,680		54,745
Hon Kwok Land Investment Co. Ltd.		140,000		25,047
Hong Kong Ferry Holdings Co. Ltd.		39,000		22,331
Hong Kong Technology Venture Co. Ltd. (a)		96,000		19,986
Hongkong & Shanghai Hotels Ltd. (a)		95,902		72,956
Hongkong Chinese Ltd. (a)		510,000		19,606
Hsin Chong Group Holdings Ltd. (a) (b) (c)		918,000		0
Hung Hing Printing Group Ltd.		252,000		37,016
Hutchison Port Holdings Trust		1,123,200		141,568
Hutchison Telecommunications Hong Kong Holdings Ltd.		366,000		47,245
Hysan Development Co. Ltd.		139,000		224,145
Imagi International Holdings Ltd. (a)		18,112		822
International Housewares Retail Co. Ltd.		105,000		17,970
IPE Group Ltd. (a)		285,000		15,658
ITC Properties Group Ltd. (a)		182,746		11,643
Jacobson Pharma Corp. Ltd.		90,000		6,786
Johnson Electric Holdings Ltd.		90,191		124,995
K Wah International Holdings Ltd.		172,000		39,381
Kader Holdings Co. Ltd. (a)		104,000		3,654
Karrie International Holdings Ltd.		140,000		8,767
Keck Seng Investments Hong Kong Ltd.		72,000		23,654
Kerry Logistics Network Ltd.		88,500		96,344
Kerry Properties Ltd.		127,000		232,691
Kingmaker Footwear Holdings Ltd.		102,000		8,862
Kowloon Development Co. Ltd.		124,000		76,285
Lai Sun Development Co. Ltd. (a)		111,919		8,718
Lai Sun Garment International Ltd. (a)		194,634		16,164
Lam Soon Hong Kong Ltd.		15,000		17,632
Langham Hospitality Investments & Langham Hospitality Investments Ltd.		207,000		15,091
Lerthai Group Ltd. (a) (b) (c)		18,000		0
Lippo China Resources Ltd. (a)		210,600		28,266
Lippo Ltd. (a)		122,000		13,093
Liu Chong Hing Investment Ltd.		78,000		48,034
Luk Fook Holdings International Ltd.		81,000		222,130
Lung Kee Bermuda Holdings		90,000		13,567
Magnificent Hotel Investment Ltd. (a)		1,310,000		12,386
Man Wah Holdings Ltd. (d)		240,800		169,675
Mandarin Oriental International Ltd.		67,000		102,452
Matrix Holdings Ltd.		36,000		3,634
MH Development NPV (a) (b) (c)		124,000		0
Midland Holdings Ltd. (a)		178,010		22,305
Miramar Hotel & Investment		51,000		65,068
Modern Dental Group Ltd.		79,000		41,433
Nameson Holdings Ltd.		130,000		8,802
National Electronics Holdings		182,600		14,464
New World Development Co. Ltd.		167,000		176,249
NewOcean Energy Holdings Ltd. (a) (b) (c)		398,000		0
Nissin Foods Co. Ltd.		47,000		29,730
NWS Holdings Ltd.		279,000		231,860
Oriental Watch Holdings		96,484		44,147
Oshidori International Holdings Ltd. (a)		1,068,000		25,920
Pacific Andes International Holdings Ltd. (a) (b) (c)		1,819,984		0
Pacific Basin Shipping Ltd.		1,125,000		325,151
Pacific Century Premium Developments Ltd. (a)		49,788		1,201
Pacific Textiles Holdings Ltd.		266,000		42,855
Paliburg Holdings Ltd. (a)		208,000		22,054
Paradise Entertainment Ltd. (a)		48,000		5,335
PC Partner Group Ltd.		54,000		20,080
PCCW Ltd. (d)		576,582		285,231
Perfect Medical Health Management Ltd.		108,000		44,180
Pico Far East Holdings Ltd.		252,000		53,443
Playmates Holdings Ltd.		460,000		34,088
PT International Development Co. Ltd. (a)		279,000		2,139
Public Financial Holdings Ltd.		166,000		26,301
Realord Group Holdings Ltd. (a)		20,000		13,952
Regal Hotels International Holdings Ltd. (a)		126,000		42,020
Regina Miracle International Holdings Ltd.		71,000		17,961
Samson Holding Ltd.		146,000		2,686
SAS Dragon Holdings Ltd.		140,000		61,710
SEA Holdings Ltd.		63,896		14,286
Shangri-La Asia Ltd. (a)		234,000		146,622
Shun Ho Property Investments Ltd. (a)		21,615		2,403
Shun Tak Holdings Ltd. (a)		379,500		36,400
Singamas Container Holdings Ltd.		506,000		36,236
SmarTone Telecommunications Holdings Ltd.		107,888		52,820
Soundwill Holdings Ltd.		41,500		36,962
South China Holdings Co. Ltd. (a)		1,240,000		7,763
Stella International Holdings Ltd.		141,000		224,828
Sun Hung Kai & Co. Ltd.		153,440		47,102
SUNeVision Holdings Ltd.		176,000		57,338
TAI Cheung Holdings Ltd.		192,000		77,197
Tan Chong International Ltd.		63,000		10,464
Tao Heung Holdings Ltd.		204,000		19,052

BHFTII-80

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Hong Kong—(Continued)
Television Broadcasts Ltd. (a)		97,700	$	38,436
Texwinca Holdings Ltd.		236,000		22,032
Tradelink Electronic Commerce Ltd.		256,000		29,765
Transport International Holdings Ltd.		65,760		75,636
United Laboratories International Holdings Ltd.		229,000		262,038
Up Energy Development Group Ltd. (a) (b) (c)		92,000		0
Upbest Group Ltd.		16,000		1,349
Value Partners Group Ltd.		215,000		49,244
Valuetronics Holdings Ltd.		89,790		38,245
Vedan International Holdings Ltd.		296,000		17,775
Vitasoy International Holdings Ltd. (d)		162,000		139,071
VPower Group International Holdings Ltd. (a)		53,251		1,803
VSTECS Holdings Ltd.		169,200		90,538
VTech Holdings Ltd.		42,200		255,924
Wai Kee Holdings Ltd. (a)		54,000		6,277
Wang On Group Ltd.		2,200,000		9,226
Wealthink AI-Innovation Capital Ltd. (a)		284,000		4,862
Wing On Co. International Ltd.		46,000		70,405
Wing Tai Properties Ltd.		176,000		49,021
Xinyi Glass Holdings Ltd.		64,000		68,092
Yue Yuen Industrial Holdings Ltd.		164,000		232,782
Yunfeng Financial Group Ltd. (a)		34,000		3,262
Zhaobangji Lifestyle Holdings Ltd. (a)		184,000		4,279

				9,159,040


Ireland—0.5%
Bank of Ireland Group PLC		61,352		626,095
C&C Group PLC (d)		120,783		249,367
Cairn Homes PLC		112,947		194,472
COSMO Pharmaceuticals NV (d)		1,257		99,382
Dalata Hotel Group PLC		23,703		115,309
FBD Holdings PLC		9,980		142,191
Glanbia PLC		36,185		713,450
Glenveagh Properties PLC (a)		61,605		83,213
Greencore Group PLC (a)		159,206		239,731
Hostelworld Group PLC (a)		8,529		16,792
Irish Continental Group PLC		22,005		115,155
Permanent TSB Group Holdings PLC (a)		15,086		22,326

				2,617,483


Isle of Man—0.0%
Strix Group PLC		40,073		34,712


Israel—1.2%
Abra Information Technologies Ltd. (a)		9,179		7,212
Adgar Investment & Development Ltd. (a)		11,788		16,113
Afcon Holdings Ltd. (a)		771		20,385
AFI Properties Ltd. (a)		3,584		164,978
Africa Israel Residences Ltd.		880		58,752
Airport City Ltd. (a)		1		8
Allot Ltd. (a)		10,216		22,646
Alrov Properties & Lodgings Ltd.		1,801		75,526
Arad Ltd.		2,224		31,499
Ashdod Refinery Ltd.		2,185		52,019
AudioCodes Ltd.		8,025		104,641
Aura Investments Ltd.		14,028		59,093
Avgol Industries 1953 Ltd. (a)		27,883		10,537
Azorim-Investment Development & Construction Co. Ltd. (a)		23,193		119,140
Bet Shemesh Engines Holdings 1997 Ltd.		2,139		85,739
Blue Square Real Estate Ltd.		1,325		91,386
Carasso Motors Ltd.		5,984		28,723
Cellcom Israel Ltd. (a)		24,928		107,040
Ceragon Networks Ltd. (a)		14,799		47,357
Clal Insurance Enterprises Holdings Ltd. (a)		10,582		194,863
Compugen Ltd. (a)		1,588		4,099
Danel Adir Yeoshua Ltd.		1,759		150,404
Delek Automotive Systems Ltd.		4,372		26,610
Delta Galil Ltd.		3,185		140,075
Dor Alon Energy in Israel 1988 Ltd.		1,540		32,286
Electra Consumer Products 1970 Ltd.		1,793		40,717
Electra Real Estate Ltd.		6,750		72,073
Equital Ltd. (a)		5,416		172,621
FMS Enterprises Migun Ltd.		1,295		54,876
Formula Systems 1985 Ltd.		2,715		217,444
Fox Wizel Ltd.		1,176		109,925
Gilat Satellite Networks Ltd. (a)		9,844		53,654
Globrands Ltd.		93		10,208
Hilan Ltd.		3,895		247,677
IDI Insurance Co. Ltd.		2,662		77,820
IES Holdings Ltd. (a)		569		34,805
Ilex Medical Ltd. (a)		959		16,959
Inrom Construction Industries Ltd.		22,474		71,534
Isracard Ltd.		22,812		93,050
Israel Canada T.R Ltd. (a)		30,064		119,770
Israel Land Development Co. Ltd.		3,950		36,522
Isras Investment Co. Ltd.		541		109,344
Issta Ltd. (a)		1,175		26,318
Kamada Ltd. (a)		7,951		44,978
Kerur Holdings Ltd.		2,088		38,266
Klil Industries Ltd. (a)		315		16,072
Lahav L.R. Real Estate Ltd.		7,734		7,531
Levinstein Properties Ltd.		1,208		20,531
M Yochananof & Sons Ltd.		586		28,210
Magic Software Enterprises Ltd.		5,909		68,149
Malam - Team Ltd.		2,688		45,915
Matrix IT Ltd.		6,643		146,370
Maytronics Ltd.		1		5
Mediterranean Towers Ltd.		28,011		73,054
Mega Or Holdings Ltd.		4,941		131,994
Meitav Investment House Ltd.		10,041		49,077
Menora Mivtachim Holdings Ltd.		3,553		95,473
Migdal Insurance & Financial Holdings Ltd.		56,284		77,833
Mivtach Shamir Holdings Ltd. (a)		1,966		75,925
Mizrahi Tefahot Bank Ltd.		1		34
Naphtha Israel Petroleum Corp. Ltd. (a)		12,347		69,509
Nawi Brothers Ltd.		4,888		37,096
Neto Malinda Trading Ltd. (a)		783		10,724
Neto ME Holdings Ltd. (a)		788		13,303
Next Vision Stabilized Systems Ltd.		6,178		73,518
Nexxen International Ltd. (ADR) (a) (d)		7,429		38,779
Novolog Ltd. (a)		43,939		18,356
Oil Refineries Ltd.		418,554		138,943
One Software Technologies Ltd.		9,000		133,155

BHFTII-81

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Israel—(Continued)
Partner Communications Co. Ltd. (a)		33,663	$	146,646
Paz Oil Co. Ltd.		2,185		233,409
Perion Network Ltd. (a)		4,002		90,136
Plasson Industries Ltd.		1,078		45,006
Plus500 Ltd.		25,321		577,208
Prashkovsky Investments & Construction Ltd.		569		14,531
Priortech Ltd. (a)		2,244		97,582
Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.		2,198		132,094
Retailors Ltd.		504		12,336
Sano-Brunos Enterprises Ltd.		46		3,872
Scope Metals Group Ltd. (a)		1,844		65,429
Shikun & Binui Ltd. (a)		1		1
Summit Real Estate Holdings Ltd.		8,001		101,429
Suny Cellular Communication Ltd.		16,495		5,082
Tadiran Group Ltd.		855		69,032
Tamar Petroleum Ltd.		1,968		12,836
Tel Aviv Stock Exchange Ltd.		12,781		86,243
Telsys Ltd.		402		27,087
Victory Supermarket Chain Ltd.		589		7,633
YH Dimri Construction & Development Ltd.		1,750		137,588

				6,534,428


Italy—4.4%
A2A SpA		437,754		790,121
ACEA SpA (d)		10,339		183,152
Aeffe SpA (a) (d)		11,359		10,392
Amplifon SpA		12,827		467,738
Anima Holding SpA		57,220		271,620
Aquafil SpA		3,537		11,582
Ariston Holding NV		3,301		18,532
Arnoldo Mondadori Editore SpA		30,273		76,082
Ascopiave SpA		19,908		50,795
Avio SpA (a) (d)		6,077		66,348
Azimut Holding SpA		28,124		764,001
Banca Generali SpA		14,484		575,727
Banca IFIS SpA		7,714		151,153
Banca Mediolanum SpA		17,645		193,915
Banca Monte dei Paschi di Siena SpA (a)		158,203		716,845
Banca Popolare di Sondrio SpA		137,290		1,027,920
Banca Profilo SpA		117,883		27,980
Banca Sistema SpA		13,168		19,148
Banco BPM SpA		204,286		1,359,390
Banco di Desio e della Brianza SpA		20,306		102,305
BFF Bank SpA		20,564		275,100
BPER Banca		248,252		1,172,710
Brembo SpA		35,796		458,402
Brunello Cucinelli SpA		8,242		942,539
Buzzi SpA		25,101		985,720
Cairo Communication SpA		19,722		42,549
Carel Industries SpA		7,731		169,686
Cementir Holding NV		14,671		165,875
CIR SpA-Compagnie Industriali (a)		191,168		110,546
Credito Emiliano SpA		21,036		210,380
d’Amico International Shipping SA		11,515		79,134
Danieli & C Officine Meccaniche SpA (d)		3,431		121,790
De’ Longhi SpA		7,276		251,662
doValue SpA (d)		7,705		17,660
Elica SpA		11,044		23,227
Emak SpA		23,063		28,118
Enav SpA		38,399		160,736
ERG SpA		916		23,001
Esprinet SpA (d)		9,278		53,846
Eurotech SpA (a) (d)		10,078		18,877
Fila SpA		3,057		26,252
FNM SpA		55,327		26,383
Geox SpA (a) (d)		34,378		24,889
Gruppo MutuiOnline SpA		4,757		192,179
Hera SpA		200,555		706,660
IMMSI SpA (d)		51,196		30,378
Intercos SpA		700		10,135
Interpump Group SpA		15,233		742,420
Iren SpA		173,436		354,389
Italgas SpA		120,290		700,784
Italian Sea Group SpA		961		10,431
Italmobiliare SpA		4,207		157,040
Iveco Group NV (a)		40,291		599,858
IVS Group SA		7,886		54,960
Leonardo SpA		75,541		1,897,743
LU-VE SpA		1,991		49,612
Maire Tecnimont SpA		42,334		331,807
MFE-MediaForEurope NV - Class A		36,806		95,473
MFE-MediaForEurope NV - Class B (d)		15,815		54,860
Openjobmetis SpA agenzia per il lavoro		1,209		21,196
OVS SpA (d)		54,328		142,778
Pharmanutra SpA		826		50,780
Piaggio & C SpA (d)		43,925		138,943
Pirelli & C SpA		71,853		439,858
RAI Way SpA		24,727		138,452
Reply SpA		5,783		818,555
Rizzoli Corriere Della Sera Mediagroup SpA		39,016		33,257
Sabaf SpA (a)		3,059		59,006
Safilo Group SpA (a)		12,212		15,836
Salcef Group SpA		457		11,290
Salvatore Ferragamo SpA (d)		10,353		125,902
Sanlorenzo SpA		813		36,970
Saras SpA		169,450		324,935
Sesa SpA (d)		2,065		228,352
Sogefi SpA (a)		24,822		85,543
SOL SpA		8,590		307,212
Spaxs SpA (a) (d)		12,140		63,653
Tamburi Investment Partners SpA		24,878		267,015
Technogym SpA		31,905		316,671
Telecom Italia SpA (a) (d)		1,819,770		440,526
Uni Land SpA (a)(b) (c)		4,937		0
Unieuro SpA		3,192		30,427
Unipol Gruppo SpA		98,029		821,321
UnipolSai Assicurazioni SpA		48,949		141,738
Webuild SpA		70,140		169,602
Zignago Vetro SpA		6,769		96,804

				23,589,179

BHFTII-82

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—23.9%
&Do Holdings Co. Ltd.		1,400	$	11,612
77 Bank Ltd.		13,300		354,368
A&D HOLON Holdings Co. Ltd.		6,000		115,726
Access Co. Ltd. (a)		2,300		26,611
Achilles Corp.		3,700		37,544
Ad-sol Nissin Corp.		1,900		21,123
Adastria Co. Ltd.		6,340		160,609
ADEKA Corp.		20,000		421,754
Adtec Plasma Technology Co. Ltd.		600		6,178
Advan Group Co. Ltd.		5,200		39,553
Advanced Media, Inc. (a)		1,200		12,942
Adventure, Inc.		600		14,526
Aeon Delight Co. Ltd.		5,100		118,340
Aeon Fantasy Co. Ltd.		2,400		37,713
AEON Financial Service Co. Ltd.		12,700		115,767
Aeon Hokkaido Corp.		4,800		29,738
Aeon Kyushu Co. Ltd.		600		12,160
Aeria, Inc.		2,200		5,127
AFC-HD AMS Life Science Co. Ltd.		1,900		11,733
Agro-Kanesho Co. Ltd.		1,000		8,276
Ahresty Corp.		5,200		28,456
Ai Holdings Corp.		9,200		148,050
Aica Kogyo Co. Ltd. (d)		13,000		317,734
Aichi Corp.		9,000		63,770
Aichi Financial Group, Inc.		3,914		68,271
Aichi Steel Corp.		2,700		68,797
Aichi Tokei Denki Co. Ltd.		2,200		35,231
Aida Engineering Ltd.		11,500		67,334
Aiful Corp.		51,900		156,023
Ain Holdings, Inc.		5,700		205,064
Ainavo Holdings Co. Ltd.		1,100		9,446
Aiphone Co. Ltd.		3,000		60,152
Airport Facilities Co. Ltd.		7,500		30,221
Airtrip Corp. (d)		2,500		26,902
Aisan Industry Co. Ltd. (d)		8,700		96,979
AIT Corp.		1,600		19,064
Aizawa Securities Group Co. Ltd.		6,800		53,653
Ajis Co. Ltd.		500		8,338
Akatsuki Corp.		8,100		26,864
Akatsuki, Inc.		2,100		35,146
Akebono Brake Industry Co. Ltd. (a)		17,400		16,591
Akita Bank Ltd.		4,100		56,060
Albis Co. Ltd.		1,600		28,830
Alconix Corp.		6,400		60,749
Alinco, Inc.		4,600		31,502
Alleanza Holdings Co. Ltd.		1,400		9,651
Alpen Co. Ltd.		4,800		63,691
Alpha Corp. (d)		2,200		24,241
AlphaPolis Co. Ltd. (a)		400		5,385
Alps Alpine Co. Ltd. (d)		39,000		306,883
Alps Logistics Co. Ltd.		4,800		88,795
Altech Corp.		4,520		81,826
Amano Corp.		14,400		367,527
Amiyaki Tei Co. Ltd.		1,100		37,833
Amuse, Inc.		2,800		28,330
Amvis Holdings, Inc.		3,700		61,957
Anabuki Kosan, Inc.		800		11,417
Anest Iwata Corp.		9,000		80,210
AnGes, Inc. (a) (d)		13,200		5,671
Anicom Holdings, Inc.		15,600		59,069
Anritsu Corp. (d)		25,500		206,416
AOI Electronics Co. Ltd. (d)		1,100		19,044
AOKI Holdings, Inc.		9,300		68,752
Aoyama Trading Co. Ltd. (d)		10,400		115,004
Aoyama Zaisan Networks Co. Ltd.		2,800		23,784
Aozora Bank Ltd. (d)		11,100		181,353
Apaman Co. Ltd.		2,100		6,763
Arakawa Chemical Industries Ltd.		4,600		35,254
Arata Corp.		7,600		161,620
ARCLANDS Corp.		9,680		113,025
Arcs Co. Ltd. (d)		10,864		224,301
ARE Holdings, Inc. (d)		18,800		238,612
Arealink Co. Ltd.		3,100		55,102
Argo Graphics, Inc.		4,800		134,899
Arisawa Manufacturing Co. Ltd.		9,400		70,030
Artience Co. Ltd.		8,900		172,602
Artiza Networks, Inc.		1,800		7,800
Artnature, Inc.		5,000		25,490
As One Corp. (d)		13,400		233,862
Asahi Broadcasting Group Holdings Corp.		2,400		10,305
Asahi Co. Ltd.		4,500		39,536
Asahi Diamond Industrial Co. Ltd.		11,800		74,666
Asahi Intelligence Service Co. Ltd.		100		928
Asahi Kogyosha Co. Ltd.		4,800		53,202
Asahi Net, Inc.		5,000		21,007
Asahi Printing Co. Ltd.		400		2,381
Asahi Yukizai Corp.		3,900		135,948
Asahipen Corp.		400		4,891
Asanuma Corp. (d)		3,900		102,658
Asax Co. Ltd.		3,200		16,169
Ascentech KK		1,400		5,675
Ashimori Industry Co. Ltd.		1,600		28,445
Asia Pile Holdings Corp.		3,800		20,811
ASKA Pharmaceutical Holdings Co. Ltd.		5,300		77,461
ASKUL Corp.		9,200		134,019
Astena Holdings Co. Ltd.		9,000		28,938
Atsugi Co. Ltd. (a)		6,100		22,357
Aucnet, Inc.		2,700		43,294
Autobacs Seven Co. Ltd. (d)		16,300		170,012
Avant Group Corp.		5,800		49,419
Avantia Co. Ltd.		3,000		17,030
Avex, Inc.		7,600		64,307
Awa Bank Ltd. (d)		8,800		161,660
Axial Retailing, Inc.		17,600		119,320
Axyz Co. Ltd.		500		10,244
AZ-COM MARUWA Holdings, Inc.		7,400		66,301
Bando Chemical Industries Ltd. (d)		7,500		93,184
Bank of Iwate Ltd.		3,700		62,685
Bank of Kochi Ltd.		1,600		11,194
Bank of Nagoya Ltd. (d)		2,500		107,053
Bank of Saga Ltd.		2,600		36,222
Bank of the Ryukyus Ltd. (d)		9,200		72,279
Base Co. Ltd.		600		13,925

BHFTII-83

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Beauty Garage, Inc.		1,600	$	24,189
Belc Co. Ltd.		2,800		128,462
Bell System24 Holdings, Inc.		8,200		84,786
Belluna Co. Ltd. (d)		14,700		59,683
Bengo4.com, Inc. (a) (d)		1,400		30,965
Bic Camera, Inc.		18,000		152,445
BML, Inc.		5,300		102,023
Bookoff Group Holdings Ltd. (d)		3,500		33,427
Bourbon Corp.		2,100		33,553
Br Holdings Corp.		7,400		18,347
BrainPad, Inc.		3,300		29,458
Bull-Dog Sauce Co. Ltd.		1,200		16,413
Bunka Shutter Co. Ltd.		13,200		148,338
Business Brain Showa-Ota, Inc.		2,600		37,023
Business Engineering Corp.		800		19,740
BuySell Technologies Co. Ltd. (d)		400		7,885
C Uyemura & Co. Ltd. (d)		2,500		170,539
CAC Holdings Corp.		3,500		43,231
Canare Electric Co. Ltd.		800		9,087
Canon Electronics, Inc.		5,000		80,985
Careerlink Co. Ltd. (d)		1,000		16,223
Carenet, Inc.		3,600		15,315
Carlit Holdings Co. Ltd.		5,500		38,737
Carta Holdings, Inc.		900		9,325
Casa, Inc.		1,000		5,454
Casio Computer Co. Ltd. (d)		3,800		32,770
Cawachi Ltd.		3,300		57,600
CDS Co. Ltd.		700		7,960
CellSource Co. Ltd. (d)		600		5,898
Celsys, Inc.		6,900		39,906
Central Automotive Products Ltd.		3,000		114,402
Central Glass Co. Ltd. (d)		5,100		96,124
Central Security Patrols Co. Ltd.		2,300		40,140
Central Sports Co. Ltd. (d)		2,400		39,571
Ceres, Inc.		1,600		18,539
Change Holdings, Inc. (d)		5,500		46,699
Charm Care Corp. KK		3,800		41,460
Chiba Kogyo Bank Ltd.		9,300		64,552
Chilled & Frozen Logistics Holdings Co. Ltd.		2,800		57,048
Chino Corp.		2,700		46,841
Chiyoda Co. Ltd.		5,800		33,994
Chiyoda Corp. (a)(d)		38,700		102,681
Chiyoda Integre Co. Ltd.		2,500		45,868
Chofu Seisakusho Co. Ltd.		5,100		72,637
Chori Co. Ltd.		3,000		67,005
Chubu Shiryo Co. Ltd.		6,800		53,276
Chudenko Corp.		6,600		130,995
Chuetsu Pulp & Paper Co. Ltd.		1,900		23,699
Chugai Ro Co. Ltd.		1,400		28,357
Chugin Financial Group, Inc.		32,800		279,145
Chugoku Electric Power Co., Inc. (d)		31,100		233,790
Chugoku Marine Paints Ltd. (d)		9,800		144,376
Chuo Gyorui Co. Ltd.		200		4,118
Chuo Spring Co. Ltd.		4,300		29,815
CI Takiron Corp.		11,000		48,890
Citizen Watch Co. Ltd. (d)		45,800		301,375
CKD Corp. (d)		9,700		194,409
Cleanup Corp.		7,300		37,827
CMK Corp.		12,600		51,508
COLOPL, Inc.		7,200		29,341
Colowide Co. Ltd. (d)		19,300		273,889
Como Co. Ltd. (d)		400		7,684
Computer Engineering & Consulting Ltd.		1,500		15,365
Computer Institute of Japan Ltd.		12,240		47,103
Comture Corp.		5,900		76,850
Core Corp.		2,500		31,057
Corona Corp. (d)		4,400		27,929
Cosel Co. Ltd.		6,800		67,986
Cosmos Initia Co. Ltd.		3,500		21,111
Cota Co. Ltd. (d)		6,020		59,034
CRE, Inc.		2,100		19,767
Create Medic Co. Ltd.		1,800		11,368
Create Restaurants Holdings, Inc. (d)		29,400		200,497
Create SD Holdings Co. Ltd.		5,600		121,860
Creek & River Co. Ltd.		2,700		35,150
Cresco Ltd.		4,000		56,696
Cross Cat Co. Ltd. (d)		1,400		14,639
CTI Engineering Co. Ltd.		2,900		98,522
CTS Co. Ltd.		7,700		40,161
Cube System, Inc.		2,500		18,083
Curves Holdings Co. Ltd.		13,000		68,537
Cybozu, Inc.		5,300		61,442
Dai Nippon Toryo Co. Ltd.		6,000		46,491
Dai-Dan Co. Ltd.		7,800		123,661
Daicel Corp.		19,000		187,593
Daido Kogyo Co. Ltd.		2,000		10,073
Daido Metal Co. Ltd.		10,600		47,027
Daido Steel Co. Ltd. (d)		28,700		332,344
Daihatsu Diesel Manufacturing Co. Ltd.		4,300		41,917
Daihen Corp. (d)		3,700		230,560
Daiho Corp. (d)		1,900		43,302
Daiichi Jitsugyo Co. Ltd.		5,200		72,805
Daiichi Kigenso Kagaku-Kogyo Co. Ltd.		5,000		31,378
Daiichikosho Co. Ltd.		6,700		84,750
Daiken Medical Co. Ltd.		4,400		16,520
Daiki Aluminium Industry Co. Ltd. (d)		7,000		56,707
Daiki Axis Co. Ltd.		1,300		6,497
Daiko Denshi Tsushin Ltd.		1,300		9,233
Daikoku Denki Co. Ltd. (d)		1,800		47,838
Daikokutenbussan Co. Ltd.		1,300		82,910
Daikyonishikawa Corp.		11,600		59,437
Dainichi Co. Ltd.		4,100		19,026
Dainichiseika Color & Chemicals Manufacturing Co. Ltd.		3,300		64,405
Daio Paper Corp. (d)		16,200		125,351
Daiseki Co. Ltd.		10,939		267,040
Daishi Hokuetsu Financial Group, Inc.		9,200		270,304
Daishinku Corp.		7,400		38,734
Daisue Construction Co. Ltd.		2,300		24,541
Daito Bank Ltd.		1,400		7,146
Daito Pharmaceutical Co. Ltd.		4,356		67,229
Daitron Co. Ltd.		2,400		56,236
Daiwa Industries Ltd.		7,700		81,227

BHFTII-84

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Daiwabo Holdings Co. Ltd.		21,400	$	358,057
DCM Holdings Co. Ltd.		25,300		244,781
Dear Life Co. Ltd.		7,500		51,906
Delica Foods Holdings Co. Ltd.		600		2,325
DeNA Co. Ltd. (d)		16,800		165,945
Denka Co. Ltd. (d)		13,100		204,124
Densan System Holdings Co. Ltd.		1,700		30,107
Dentsu Soken, Inc.		1,600		52,106
Denyo Co. Ltd.		4,100		63,609
Dexerials Corp. (d)		14,500		632,734
DIC Corp.		14,500		276,866
Digital Arts, Inc.		2,900		83,241
Digital Hearts Holdings Co. Ltd.		2,600		16,434
Digital Holdings, Inc.		2,100		15,215
Digital Information Technologies Corp.		2,100		24,965
Dip Corp.		9,500		173,716
Direct Marketing MiX, Inc.		3,000		6,242
DKK Co. Ltd.		2,600		36,672
DKS Co. Ltd.		2,800		66,182
DMG Mori Co. Ltd. (d)		12,600		332,903
DMW Corp.		700		18,488
Doshisha Co. Ltd.		6,600		90,978
Double Standard, Inc.		1,400		16,988
Doutor Nichires Holdings Co. Ltd.		7,600		103,222
Dowa Holdings Co. Ltd. (d)		6,400		220,860
Drecom Co. Ltd. (a) (d)		2,700		18,497
DTS Corp.		10,700		279,832
Duskin Co. Ltd.		10,900		232,363
DyDo Group Holdings, Inc.		5,400		97,551
E-Guardian, Inc. (d)		1,000		9,131
Eagle Industry Co. Ltd.		6,200		74,795
EAT&HOLDINGS Co. Ltd.		1,400		18,673
Ebara Foods Industry, Inc.		700		13,277
Ebara Jitsugyo Co. Ltd.		3,000		70,617
Ebase Co. Ltd.		4,800		22,959
Eco’s Co. Ltd.		2,100		31,820
EDION Corp. (d)		16,800		168,977
EF-ON, Inc.		6,100		17,663
eGuarantee, Inc.		8,200		97,042
Ehime Bank Ltd.		7,600		56,470
Eidai Co. Ltd.		10,000		19,728
Eiken Chemical Co. Ltd.		7,500		97,506
Eizo Corp.		4,100		139,295
Elan Corp.		8,200		49,699
Elecom Co. Ltd.		11,700		119,980
Elematec Corp.		4,700		59,400
EM Systems Co. Ltd.		3,500		16,457
en Japan, Inc.		8,300		145,950
Endo Lighting Corp.		2,600		25,985
Enplas Corp. (d)		1,400		67,423
Entrust, Inc.		1,500		8,595
eRex Co. Ltd. (a)(d)		8,000		36,572
ES-Con Japan Ltd.		6,700		44,967
Eslead Corp.		2,000		45,824
ESPEC Corp. (d)		5,000		99,313
Exedy Corp. (d)		7,700		154,292
EXEO Group, Inc. (d)		31,400		332,634
Ezaki Glico Co. Ltd.		12,600		351,251
F&M Co. Ltd.		1,600		21,762
F-Tech, Inc. (d)		6,000		29,786
FALCO HOLDIN GS Co. Ltd.		2,300		35,421
Fancl Corp.		10,600		140,883
FCC Co. Ltd.		9,200		133,951
FDK Corp. (a)		3,600		17,663
Feed One Co. Ltd.		6,376		40,853
Ferrotec Holdings Corp.		11,700		227,472
Fibergate, Inc.		1,800		13,654
FIDEA Holdings Co. Ltd.		5,050		53,027
Financial Partners Group Co. Ltd.		8,200		115,328
FINDEX, Inc.		3,900		28,888
First Bank of Toyama Ltd.		10,700		67,341
First Brothers Co. Ltd. (d)		900		7,601
First Juken Co. Ltd.		1,600		12,480
First-Corp., Inc.		1,600		8,862
Fixstars Corp.		4,100		62,220
FJ Next Holdings Co. Ltd.		3,800		34,670
Focus Systems Corp.		2,900		24,838
Food & Life Cos. Ltd.		21,600		414,059
Forval Corp.		1,900		15,990
Foster Electric Co. Ltd.		5,600		45,544
FP Corp.		3,600		65,330
France Bed Holdings Co. Ltd. (d)		7,900		66,480
FreakOut Holdings, Inc. (a)		800		4,146
Freebit Co. Ltd.		2,100		21,332
Freund Corp.		2,400		13,047
FTGroup Co. Ltd.		1,500		12,199
Fudo Tetra Corp.		4,130		55,856
Fuji Corp.		18,800		319,209
Fuji Corp. Ltd. (d)		8,600		42,605
Fuji Kyuko Co. Ltd. (d)		5,300		136,950
Fuji Oil Co. Ltd.		16,800		52,213
Fuji Oil Holdings, Inc.		10,600		166,042
Fuji Pharma Co. Ltd.		4,600		49,510
Fuji Seal International, Inc.		11,100		145,559
Fujibo Holdings, Inc. (d)		2,800		80,931
Fujicco Co. Ltd.		5,700		71,457
Fujikura Composites, Inc.		3,700		34,364
Fujikura Kasei Co. Ltd.		9,500		29,789
Fujikura Ltd.		24,700		365,159
Fujimi, Inc.		9,900		227,129
Fujimori Kogyo Co. Ltd. (d)		4,400		124,297
Fujisash Co. Ltd.		24,500		15,212
Fujishoji Co. Ltd.		1,300		11,613
Fujita Kanko, Inc. (a)		400		19,255
Fujitsu General Ltd. (d)		5,800		71,785
Fujiya Co. Ltd.		3,300		54,381
FuKoKu Co. Ltd.		4,000		48,966
Fukuda Corp.		1,700		63,084
Fukuda Denshi Co. Ltd.		4,200		191,787
Fukui Bank Ltd. (d)		5,400		69,267
Fukui Computer Holdings, Inc.		2,700		46,085
Fukushima Bank Ltd.		11,200		22,981
Fukushima Galilei Co. Ltd.		3,800		149,431

BHFTII-85

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Fukuyama Transporting Co. Ltd.		3,200	$	75,724
FULLCAST Holdings Co. Ltd.		5,400		51,541
Funai Soken Holdings, Inc.		10,370		170,357
Furukawa Battery Co. Ltd.		5,000		33,458
Furukawa Co. Ltd.		6,400		76,691
Furukawa Electric Co. Ltd. (d)		16,000		337,604
Furuno Electric Co. Ltd.		6,900		111,676
Furuya Metal Co. Ltd.		1,100		81,579
Furyu Corp.		4,300		35,875
Fuso Chemical Co. Ltd. (d)		4,600		140,007
Fuso Pharmaceutical Industries Ltd.		2,600		37,520
Futaba Corp.		10,200		34,909
Futaba Industrial Co. Ltd.		13,900		108,310
Future Corp.		11,200		123,350
Fuyo General Lease Co. Ltd.		1,500		133,345
G-7 Holdings, Inc.		5,800		54,933
G-Tekt Corp.		6,500		91,011
Gakken Holdings Co. Ltd.		6,400		39,287
Gakkyusha Co. Ltd.		2,800		38,987
Gecoss Corp.		4,600		34,897
Genki Sushi Co. Ltd.		3,200		67,155
Genky DrugStores Co. Ltd.		2,400		103,479
Geo Holdings Corp. (d)		6,000		75,188
Gift Holdings, Inc.		1,600		37,159
GL Sciences, Inc.		1,300		23,324
GLOBERIDE, Inc.		5,200		69,123
Glory Ltd. (d)		10,000		188,638
GMO Financial Gate, Inc.		400		23,490
GMO Financial Holdings, Inc.		8,000		41,666
GMO GlobalSign Holdings KK		1,000		19,784
GMO internet group, Inc.		7,300		132,176
GNI Group Ltd. (a)		4,900		97,802
Godo Steel Ltd. (d)		2,300		87,075
Goldcrest Co. Ltd.		3,830		64,190
Golf Digest Online, Inc.		900		3,620
Grandy House Corp. (d)		3,600		14,325
gremz, Inc.		900		12,784
GS Yuasa Corp.		15,900		330,637
GSI Creos Corp.		2,800		43,948
Gun-Ei Chemical Industry Co. Ltd.		1,800		44,797
GungHo Online Entertainment, Inc.		10,500		167,966
Gunma Bank Ltd. (d)		79,600		451,049
Gunze Ltd.		3,700		132,603
H-One Co. Ltd.		6,000		27,507
H.U. Group Holdings, Inc. (d)		14,400		234,434
H2O Retailing Corp.		22,000		281,214
HABA Laboratories, Inc.		700		9,604
Hagihara Industries, Inc.		4,000		43,269
Hagiwara Electric Holdings Co. Ltd. - Class C		2,400		70,580
Hakudo Co. Ltd. (d)		2,400		39,871
Hakuto Co. Ltd. (d)		2,500		92,186
Halows Co. Ltd.		2,100		61,940
Hamakyorex Co. Ltd.		4,600		116,685
Hamee Corp.		1,800		15,270
Handsman Co. Ltd.		800		5,236
Hanwa Co. Ltd.		7,600		296,697
Happinet Corp. (d)		4,100		82,350
Hard Off Corp. Co. Ltd.		3,700		41,156
Harima Chemicals Group, Inc.		4,300		26,280
Harmonic Drive Systems, Inc.		1,200		32,034
Hashimoto Sogyo Holdings Co. Ltd.		1,400		12,559
Hazama Ando Corp.		42,990		334,856
Heiwa Corp.		13,500		176,672
Heiwa Real Estate Co. Ltd.		5,700		149,510
Heiwado Co. Ltd.		7,500		100,326
Hennge KK (a)		600		4,822
HI-LEX Corp.		5,500		61,925
Hibiya Engineering Ltd. (d)		4,500		87,772
Hiday Hidaka Corp.		500		8,842
Himaraya Co. Ltd.		2,600		15,701
Hino Motors Ltd. (a)		19,200		64,270
Hioki EE Corp.		2,600		122,972
Hirakawa Hewtech Corp. (d)		2,000		17,825
Hirano Tecseed Co. Ltd.		1,300		17,882
Hirata Corp.		1,000		51,625
Hirogin Holdings, Inc. (d)		61,700		442,607
Hirose Tusyo, Inc.		300		6,441
Hiroshima Electric Railway Co. Ltd. (d)		1,500		7,705
Hiroshima Gas Co. Ltd.		7,000		17,697
Hisaka Works Ltd.		5,500		36,990
Hisamitsu Pharmaceutical Co., Inc.		300		7,761
Hitachi Zosen Corp. (d)		41,300		360,593
Hito Communications Holdings, Inc.		1,700		13,045
Hochiki Corp.		4,600		65,927
Hodogaya Chemical Co. Ltd.		1,800		42,590
Hogy Medical Co. Ltd. (d)		3,700		91,058
Hokkaido Electric Power Co., Inc.		46,200		252,206
Hokkaido Gas Co. Ltd.		3,900		65,173
Hokkan Holdings Ltd.		3,300		40,805
Hokko Chemical Industry Co. Ltd.		4,800		39,670
Hokkoku Financial Holdings, Inc. (d)		4,400		144,873
Hokuetsu Corp. (d)		27,800		341,176
Hokuetsu Industries Co. Ltd. (d)		5,900		77,212
Hokuhoku Financial Group, Inc. (d)		25,600		324,082
Hokuriku Electric Industry Co. Ltd.		2,800		25,703
Hokuriku Electric Power Co. (d)		42,800		227,245
Hokuriku Electrical Construction Co. Ltd.		3,600		29,999
Hokuriku Gas Co. Ltd. (d)		1,000		22,750
Hokuto Corp.		6,300		76,154
Honeys Holdings Co. Ltd.		4,630		52,942
Honma Golf Ltd.		27,000		11,196
Hoosiers Holdings Co. Ltd.		8,000		58,059
Hoshi Iryo-Sanki Co. Ltd.		300		10,283
Hosiden Corp.		11,800		150,203
Hosokawa Micron Corp.		3,600		113,132
Hotland Co. Ltd.		3,200		42,039
House Foods Group, Inc.		2,400		48,805
Howa Machinery Ltd.		4,400		23,784
HS Holdings Co. Ltd.		5,000		33,140
Hyakugo Bank Ltd.		49,600		209,999
Hyakujushi Bank Ltd. (d)		5,800		111,785
I’ll, Inc.		900		17,963
I’rom Group Co. Ltd.		2,700		33,775

BHFTII-86

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
i-mobile Co. Ltd.		5,400	$	14,383
I-NE Co. Ltd.		800		9,636
I-Net Corp.		3,520		53,113
I-PEX, Inc.		3,100		37,305
IBJ, Inc.		4,900		17,515
Ichiken Co. Ltd.		1,800		29,733
Ichikoh Industries Ltd.		9,000		32,456
Ichimasa Kamaboko Co. Ltd.		1,100		5,457
Ichinen Holdings Co. Ltd.		5,200		60,215
Ichiyoshi Securities Co. Ltd.		10,100		55,630
Icom, Inc.		2,000		44,985
ID Holdings Corp.		3,899		39,017
Idec Corp.		7,500		132,389
IDOM, Inc.		17,200		118,794
Iino Kaiun Kaisha Ltd. (d)		16,900		140,784
Imagica Group, Inc.		4,500		20,123
Imasen Electric Industrial		2,000		8,430
Imuraya Group Co. Ltd.		2,900		48,214
Inaba Denki Sangyo Co. Ltd.		13,000		301,383
Inaba Seisakusho Co. Ltd.		3,200		38,286
Inabata & Co. Ltd. (d)		10,400		219,025
Inageya Co. Ltd.		800		7,382
Ines Corp.		5,100		52,376
Infocom Corp. (d)		4,500		79,225
Innotech Corp.		3,900		51,344
Insource Co. Ltd. (d)		11,200		67,330
Intage Holdings, Inc.		2,600		27,191
Integrated Design & Engineering Holdings Co. Ltd.		3,400		96,963
Intelligent Wave, Inc.		3,400		26,148
Inter Action Corp.		2,700		23,178
Inui Global Logistics Co. Ltd. (d)		3,000		21,111
IR Japan Holdings Ltd. (d)		2,000		17,415
Iriso Electronics Co. Ltd.		5,500		110,121
ISB Corp.		400		3,617
Ise Chemicals Corp.		600		61,272
Iseki & Co. Ltd.		5,700		38,559
Ishihara Chemical Co. Ltd.		1,200		14,632
Ishihara Sangyo Kaisha Ltd.		7,600		86,862
Ishizuka Glass Co. Ltd. (d)		500		9,669
Itfor, Inc.		7,800		69,635
ITmedia, Inc. (d)		1,500		17,677
Itochu Enex Co. Ltd.		13,300		136,998
Itochu-Shokuhin Co. Ltd.		1,600		75,997
Itoham Yonekyu Holdings, Inc.		5,900		154,900
Itoki Corp.		9,900		113,513
IwaiCosmo Holdings, Inc.		5,100		74,965
Iwaki Co. Ltd.		1,300		24,631
Iwatsuka Confectionery Co. Ltd. (d)		2,000		36,319
Iyogin Holdings, Inc.		35,300		272,858
Izumi Co. Ltd.		7,400		169,649
J Trust Co. Ltd.		16,800		48,967
J-Lease Co. Ltd.		1,200		9,958
J-Oil Mills, Inc.		5,700		72,976
JAC Recruitment Co. Ltd.		15,600		81,415
Jaccs Co. Ltd.		5,300		192,305
JAFCO Group Co. Ltd. (d)		8,900		110,079
JANOME Corp. (d)		7,099		32,161
Japan Aviation Electronics Industry Ltd.		12,300		201,903
Japan Cash Machine Co. Ltd.		1,200		10,433
Japan Communications, Inc. (a)		35,600		48,209
Japan Electronic Materials Corp.		2,400		42,448
Japan Elevator Service Holdings Co. Ltd.		17,300		282,356
Japan Foundation Engineering Co. Ltd.		7,900		26,142
Japan Investment Adviser Co. Ltd.		6,400		44,051
Japan Lifeline Co. Ltd. (d)		15,500		123,378
Japan Material Co. Ltd.		15,600		249,422
Japan Medical Dynamic Marketing, Inc.		4,400		21,085
Japan Oil Transportation Co. Ltd.		700		13,465
Japan Petroleum Exploration Co. Ltd. (d)		8,300		375,693
Japan Property Management Center Co. Ltd.		4,100		33,204
Japan Pulp & Paper Co. Ltd.		2,700		92,407
Japan Pure Chemical Co. Ltd.		500		10,084
Japan Securities Finance Co. Ltd.		20,400		225,108
Japan Steel Works Ltd.		6,500		144,912
Japan Transcity Corp.		9,700		42,503
Japan Wool Textile Co. Ltd.		12,600		121,024
Jastec Co. Ltd.		4,300		41,145
JBCC Holdings, Inc.		3,800		83,169
JCU Corp.		5,700		144,875
Jeol Ltd.		9,700		402,263
JFE Systems, Inc.		700		18,007
JIG-SAW, Inc. (a)(d)		900		23,691
Jimoto Holdings, Inc.		6,790		26,858
JINS Holdings, Inc.		3,200		90,440
JINUSHI Co. Ltd.		3,500		56,248
JK Holdings Co. Ltd.		2,800		19,634
JM Holdings Co. Ltd.		3,200		57,940
JMS Co. Ltd.		6,400		22,281
Joban Kosan Co. Ltd. (a)(d)		1,700		13,693
Joshin Denki Co. Ltd. (d)		5,000		76,114
Joyful Honda Co. Ltd.		11,900		170,975
JP-Holdings, Inc.		17,900		63,149
JSB Co. Ltd.		2,000		37,567
JSP Corp. (d)		3,900		58,181
Juki Corp.		7,200		27,215
Juroku Financial Group, Inc.		7,300		226,554
Justsystems Corp.		8,000		139,988
JVCKenwood Corp.		40,000		246,085
K&O Energy Group, Inc.		2,800		59,094
K’s Holdings Corp. (d)		30,100		258,560
Kadoya Sesame Mills, Inc.		800		20,135
Kaga Electronics Co. Ltd.		4,300		182,685
Kagome Co. Ltd.		6,400		155,100
Kakaku.com, Inc.		3,600		43,596
Kaken Pharmaceutical Co. Ltd.		5,200		117,470
Kakiyasu Honten Co. Ltd.		2,500		52,333
Kamakura Shinsho Ltd.		3,700		17,518
Kameda Seika Co. Ltd. (d)		3,500		98,129
Kamei Corp.		5,700		77,660
Kanaden Corp.		3,800		37,999
Kanagawa Chuo Kotsu Co. Ltd.		1,900		39,461
Kanamic Network Co. Ltd.		900		3,149
Kanamoto Co. Ltd.		7,600		135,965
Kandenko Co. Ltd. (d)		21,900		249,736

BHFTII-87

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Kaneka Corp.		11,100	$	276,136
Kaneko Seeds Co. Ltd.		1,300		12,273
Kanematsu Corp. (d)		20,400		348,145
Kanemi Co. Ltd.		100		2,155
Kanto Denka Kogyo Co. Ltd.		12,100		80,604
Kappa Create Co. Ltd. (a) (d)		1,000		10,634
Kasai Kogyo Co. Ltd. (a)		8,600		13,984
Katakura Industries Co. Ltd.		5,200		65,918
Katitas Co. Ltd. (d)		11,600		151,189
Kato Sangyo Co. Ltd.		6,000		179,884
Kato Works Co. Ltd.		3,800		38,262
Kawada Technologies, Inc.		2,700		58,333
Kawai Musical Instruments Manufacturing Co. Ltd.		1,600		37,959
KeePer Technical Laboratory Co. Ltd.		3,000		98,514
Keihanshin Building Co. Ltd. (d)		8,200		83,470
Keihin Co. Ltd.		2,300		30,295
KEIWA, Inc.		1,200		9,028
Keiyo Bank Ltd.		26,900		134,583
Kenko Mayonnaise Co. Ltd.		3,200		42,488
KFC Holdings Japan Ltd.		4,000		115,620
KH Neochem Co. Ltd.		9,400		142,169
Ki-Star Real Estate Co. Ltd. (d)		2,600		64,201
Kibun Foods, Inc.		1,500		12,335
Kimoto Co. Ltd.		14,900		22,370
Kimura Chemical Plants Co. Ltd. (d)		3,300		15,285
King Jim Co. Ltd.		1,400		8,251
Kintetsu Department Store Co. Ltd.		400		6,258
Kissei Pharmaceutical Co. Ltd.		6,800		159,008
Kita-Nippon Bank Ltd.		2,200		35,620
Kitagawa Corp.		3,100		33,935
Kitano Construction Corp.		1,400		33,428
Kitz Corp.		17,800		159,698
Kiyo Bank Ltd.		15,500		190,198
Koa Corp. (d)		8,400		81,559
Koatsu Gas Kogyo Co. Ltd.		7,300		43,335
Kobe Electric Railway Co. Ltd.		1,400		25,910
Kohnan Shoji Co. Ltd.		5,900		170,259
Kohsoku Corp.		3,300		49,981
Koike Sanso Kogyo Co. Ltd.		700		29,031
Kojima Co. Ltd. (d)		7,800		42,131
Kokuyo Co. Ltd.		20,100		328,200
Komatsu Matere Co. Ltd.		4,200		21,403
Komatsu Wall Industry Co. Ltd.		1,800		37,752
KOMEDA Holdings Co. Ltd.		12,600		224,403
Komehyo Holdings Co. Ltd. (d)		1,300		33,096
Komeri Co. Ltd. (d)		7,400		168,561
Komori Corp. (d)		11,000		89,423
Konaka Co. Ltd. (d)		7,300		19,501
Kondotec, Inc.		5,600		46,397
Konica Minolta, Inc. (d)		93,000		304,070
Konishi Co. Ltd. (d)		13,000		132,082
Konoike Transport Co. Ltd.		6,900		96,358
Konoshima Chemical Co. Ltd.		600		6,170
Kosaido Holdings Co. Ltd. (d)		18,500		80,280
Koshidaka Holdings Co. Ltd.		2,400		14,837
Kotobuki Spirits Co. Ltd. (d)		13,000		163,379
Kotobukiya Co. Ltd. (d)		1,500		18,252
Kozo Keikaku Engineering, Inc.		1,200		31,759
KPP Group Holdings Co. Ltd.		3,700		18,154
Krosaki Harima Corp. (d)		5,200		120,800
KRS Corp.		4,400		33,742
KU Holdings Co. Ltd.		5,500		41,980
Kumagai Gumi Co. Ltd.		8,000		217,880
Kumiai Chemical Industry Co. Ltd.		10,995		60,076
Kunimine Industries Co. Ltd.		1,200		8,319
Kurabo Industries Ltd. (d)		3,600		82,863
Kureha Corp. (d)		10,700		192,857
Kurimoto Ltd.		2,300		60,100
Kuriyama Holdings Corp.		2,300		20,398
Kusuri No. Aoki Holdings Co. Ltd.		9,900		203,760
KYB Corp. (d)		3,800		128,861
Kyodo Printing Co. Ltd.		1,700		38,469
Kyoei Steel Ltd.		4,700		73,343
Kyokuto Boeki Kaisha Ltd.		3,600		49,593
Kyokuto Kaihatsu Kogyo Co. Ltd. (d)		8,800		148,913
Kyokuto Securities Co. Ltd.		4,100		43,143
Kyokuyo Co. Ltd. (d)		2,700		66,135
Kyorin Pharmaceutical Co. Ltd. (d)		10,200		122,565
KYORITSU Co. Ltd.		6,800		8,271
Kyoritsu Maintenance Co. Ltd. (d)		13,200		302,187
Kyosan Electric Manufacturing Co. Ltd.		12,600		43,031
Kyowa Electronic Instruments Co. Ltd.		8,000		22,496
Kyowa Leather Cloth Co. Ltd.		3,300		17,438
Kyudenko Corp. (d)		7,300		302,481
Kyushu Financial Group, Inc.		15,100		111,529
LAC Co. Ltd. (d)		5,900		31,627
Lacto Japan Co. Ltd.		1,400		21,772
LEC, Inc. (d)		5,000		38,038
Leopalace21 Corp.		39,300		132,328
Life Corp.		4,000		102,527
LIFULL Co. Ltd.		17,000		18,896
LIKE, Inc.		2,100		23,145
Linical Co. Ltd.		2,600		6,793
Link & Motivation, Inc. (d)		8,900		31,972
Lintec Corp.		9,500		195,918
LITALICO, Inc.		4,700		65,074
Look Holdings, Inc.		2,200		38,246
M&A Capital Partners Co. Ltd.		3,600		53,233
m-up Holdings, Inc.		7,400		57,242
Mabuchi Motor Co. Ltd.		24,100		438,945
Macromill, Inc.		12,100		61,943
Maeda Kosen Co. Ltd.		5,100		122,199
Maezawa Kasei Industries Co. Ltd. (d)		3,200		36,071
Maezawa Kyuso Industries Co. Ltd.		5,800		47,992
Makino Milling Machine Co. Ltd.		5,300		219,997
Management Solutions Co. Ltd.		1,800		25,235
Mandom Corp.		8,900		78,442
Mani, Inc.		18,500		241,825
MarkLines Co. Ltd.		3,000		67,162
Mars Group Holdings Corp. (d)		2,200		47,449
Marubun Corp. (d)		4,200		42,392
Marudai Food Co. Ltd.		4,700		50,218
Marufuji Sheet Piling Co. Ltd.		1,300		25,791
Maruha Nichiro Corp.		9,000		175,859

BHFTII-88

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Maruichi Steel Tube Ltd. (d)		9,300	$	248,079
MARUKA FURUSATO Corp.		993		14,479
Marumae Co. Ltd.		2,500		34,968
Marusan Securities Co. Ltd. (d)		9,900		70,055
Maruwa Co. Ltd.		1,300		272,272
Maruyama Manufacturing Co., Inc.		1,500		24,307
Maruzen CHI Holdings Co. Ltd.		11,900		26,032
Maruzen Co. Ltd.		900		17,417
Maruzen Showa Unyu Co. Ltd.		2,800		85,601
Marvelous, Inc. (d)		9,500		43,583
Matching Service Japan Co. Ltd.		1,200		9,151
Matsuda Sangyo Co. Ltd.		3,600		58,288
Matsui Construction Co. Ltd.		6,400		38,155
Matsui Securities Co. Ltd. (d)		31,000		169,091
Matsuyafoods Holdings Co. Ltd.		400		14,876
Max Co. Ltd.		7,200		151,734
Maxell Ltd.		10,500		110,038
Maxvalu Tokai Co. Ltd.		3,500		71,172
MCJ Co. Ltd.		17,300		153,306
MEC Co. Ltd.		4,200		112,228
Media Do Co. Ltd.		2,100		20,747
Medical Data Vision Co. Ltd.		6,800		26,957
Medical System Network Co. Ltd.		7,000		29,964
Medikit Co. Ltd.		1,300		25,806
Medius Holdings Co. Ltd.		1,800		9,215
Medley, Inc. (a)		1,700		50,366
MedPeer, Inc.		2,600		11,922
Megachips Corp. (d)		4,200		107,201
Megmilk Snow Brand Co. Ltd.		10,800		191,908
Meidensha Corp.		9,000		169,348
Meiji Electric Industries Co. Ltd.		1,000		10,134
Meiji Shipping Group Co. Ltd. (d)		4,300		22,090
Meiko Electronics Co. Ltd. (d)		5,600		198,736
Meisei Industrial Co. Ltd.		9,900		86,112
MEITEC Group Holdings, Inc. (d)		17,800		344,367
Meito Sangyo Co. Ltd. (d)		3,000		35,072
Meiwa Corp.		8,100		35,179
Meiwa Estate Co. Ltd. (d)		3,800		26,516
Melco Holdings, Inc.		1,500		35,990
Members Co. Ltd.		1,800		10,732
Menicon Co. Ltd. (d)		16,300		167,487
Mercuria Holdings Co. Ltd.		2,100		14,661
MetaReal Corp. (a)		1,400		13,611
METAWATER Co. Ltd.		3,600		52,907
Micronics Japan Co. Ltd.		6,300		348,213
Midac Holdings Co. Ltd.		900		9,432
Mie Kotsu Group Holdings, Inc. (d)		8,600		34,923
Mikuni Corp.		7,300		23,168
Milbon Co. Ltd.		6,720		141,382
MIMAKI ENGINEERING Co. Ltd.		1,700		13,165
Mimasu Semiconductor Industry Co. Ltd.		4,400		89,461
Ministop Co. Ltd.		4,300		43,003
Miraial Co. Ltd.		2,900		29,043
Mirait One Corp.		21,880		269,589
Mirarth Holdings, Inc.		24,900		81,952
Miroku Jyoho Service Co. Ltd. (d)		5,500		65,079
Mitani Corp.		22,700		278,707
Mitani Sekisan Co. Ltd.		2,100		83,537
Mito Securities Co. Ltd.		10,400		33,881
Mitsuba Corp.		9,300		100,968
Mitsubishi Kakoki Kaisha Ltd.		800		21,529
Mitsubishi Logisnext Co. Ltd.		8,400		102,037
Mitsubishi Logistics Corp.		7,400		239,563
Mitsubishi Materials Corp. (d)		19,400		364,608
Mitsubishi Paper Mills Ltd.		8,800		34,704
Mitsubishi Pencil Co. Ltd.		8,200		137,320
Mitsubishi Research Institute, Inc.		2,000		65,390
Mitsubishi Shokuhin Co. Ltd.		4,300		158,148
Mitsubishi Steel Manufacturing Co. Ltd.		4,400		42,259
Mitsuboshi Belting Ltd. (d)		3,900		119,684
Mitsui DM Sugar Holdings Co. Ltd. (d)		4,300		88,467
Mitsui E&S Co. Ltd. (d)		24,900		315,987
Mitsui High-Tec, Inc. (d)		2,800		158,471
Mitsui Matsushima Holdings Co. Ltd. - Class C (d)		3,100		59,392
Mitsui Mining & Smelting Co. Ltd. (d)		13,900		425,188
Mitsui-Soko Holdings Co. Ltd. (d)		5,000		154,492
Mitsuuroko Group Holdings Co. Ltd. (d)		7,800		72,737
MIXI, Inc. (d)		9,800		169,363
Miyaji Engineering Group, Inc.		2,900		81,746
Miyazaki Bank Ltd.		4,100		77,968
Miyoshi Oil & Fat Co. Ltd.		2,800		23,724
Mizuho Leasing Co. Ltd.		33,500		246,844
Mizuho Medy Co. Ltd.		500		10,751
Mizuno Corp. (d)		4,700		196,293
Mochida Pharmaceutical Co. Ltd. (d)		4,700		99,368
Modec, Inc.		800		16,271
Monex Group, Inc. (d)		45,500		270,423
Money Partners Group Co. Ltd.		7,100		13,320
Monogatari Corp.		7,800		239,076
MORESCO Corp.		2,500		23,384
Morinaga & Co. Ltd.		17,600		302,113
Morinaga Milk Industry Co. Ltd. (d)		17,600		359,795
Moriroku Holdings Co. Ltd.		800		13,729
Morita Holdings Corp.		8,800		95,320
Morito Co. Ltd.		3,400		34,210
Morozoff Ltd.		1,800		50,437
Mortgage Service Japan Ltd.		1,200		4,029
Mory Industries, Inc.		1,600		65,987
MRK Holdings, Inc. (d)		15,600		11,650
MrMax Holdings Ltd.		8,400		34,880
Mugen Estate Co. Ltd.		3,300		34,383
Murakami Corp.		2,100		70,529
Musashi Seimitsu Industry Co. Ltd.		13,400		149,570
Musashino Bank Ltd. (d)		6,900		133,526
Mutoh Holdings Co. Ltd.		900		13,674
Nabtesco Corp.		2,200		36,760
NAC Co. Ltd.		7,200		25,374
Nachi-Fujikoshi Corp. (d)		3,800		86,997
Nafco Co. Ltd.		2,600		44,380
Nagano Keiki Co. Ltd.		4,200		62,757
Nagase & Co. Ltd.		21,400		359,377
Nagatanien Holdings Co. Ltd.		3,300		48,630
Nagawa Co. Ltd. (d)		1,500		75,551
Naigai Trans Line Ltd.		2,100		33,848

BHFTII-89

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Nakabayashi Co. Ltd.		5,500	$	19,373
Nakamuraya Co. Ltd. (d)		1,600		32,591
Nakanishi, Inc.		13,200		207,098
Nakano Corp.		4,000		15,846
Nakayama Steel Works Ltd.		6,300		39,012
Nakayamafuku Co. Ltd.		2,000		4,828
Namura Shipbuilding Co. Ltd. (d)		11,256		149,400
Nankai Electric Railway Co. Ltd.		8,700		178,731
Nanto Bank Ltd.		6,300		127,275
Narasaki Sangyo Co. Ltd.		800		15,843
Natori Co. Ltd.		2,600		36,339
NCD Co. Ltd./Shinagawa		1,700		20,591
NEC Capital Solutions Ltd.		2,500		63,452
NEC Networks & System Integration Corp.		9,400		156,257
NET One Systems Co. Ltd.		17,100		300,956
Neturen Co. Ltd.		7,300		53,284
New Art Holdings Co. Ltd.		1,235		14,234
New Japan Chemical Co. Ltd. (a)(d)		9,900		12,194
Nextage Co. Ltd. (d)		11,100		210,292
NexTone, Inc. (a)		700		6,195
NF Holdings Corp.		1,600		13,524
NHK Spring Co. Ltd. (d)		46,900		465,508
Nicca Chemical Co. Ltd.		1,400		8,655
Nice Corp.		2,300		27,135
Nichia Steel Works Ltd.		9,100		19,824
Nichias Corp. (d)		13,800		368,900
Nichiban Co. Ltd. (d)		3,200		41,316
Nichicon Corp. (d)		11,800		99,605
Nichiden Corp. (d)		3,500		61,433
Nichiha Corp.		6,800		153,498
Nichimo Co. Ltd.		2,000		31,364
Nichireki Co. Ltd. (d)		7,100		117,205
Nichirin Co. Ltd.		1,400		34,339
Nihon Chouzai Co. Ltd.		3,320		34,282
Nihon Dempa Kogyo Co. Ltd.		3,300		29,607
Nihon Dengi Co. Ltd.		400		15,430
Nihon Flush Co. Ltd.		6,000		38,361
Nihon House Holdings Co. Ltd.		10,000		23,019
Nihon Kagaku Sangyo Co. Ltd.		3,000		28,352
Nihon Kohden Corp.		5,000		132,414
Nihon M&A Center Holdings, Inc. (d)		58,000		369,229
Nihon Nohyaku Co. Ltd. (d)		11,900		63,037
Nihon Parkerizing Co. Ltd.		21,300		171,432
Nihon Plast Co. Ltd.		4,500		16,447
Nihon Tokushu Toryo Co. Ltd.		2,900		27,850
Nihon Yamamura Glass Co. Ltd. (d)		3,800		42,002
Nikkiso Co. Ltd.		12,400		101,313
Nikko Co. Ltd.		9,000		45,233
Nikkon Holdings Co. Ltd.		13,600		262,212
Nippn Corp.		12,200		187,186
Nippon Air Conditioning Services Co. Ltd.		7,700		45,915
Nippon Aqua Co. Ltd.		3,000		20,153
Nippon Beet Sugar Manufacturing Co. Ltd.		2,900		39,575
Nippon Carbide Industries Co., Inc.		2,300		27,421
Nippon Carbon Co. Ltd.		2,600		91,125
Nippon Chemi-Con Corp. (a)		5,900		55,788
Nippon Chemical Industrial Co. Ltd.		2,400		37,394
Nippon Coke & Engineering Co. Ltd.		47,000		40,139
Nippon Concept Corp.		1,500		18,406
Nippon Concrete Industries Co. Ltd.		14,000		36,745
Nippon Denko Co. Ltd.		29,065		60,978
Nippon Densetsu Kogyo Co. Ltd.		9,500		131,289
Nippon Dry-Chemical Co. Ltd.		1,000		17,644
Nippon Electric Glass Co. Ltd.		17,600		449,811
Nippon Felt Co. Ltd.		8,600		24,612
Nippon Filcon Co. Ltd.		5,200		19,052
Nippon Gas Co. Ltd.		26,400		443,664
Nippon Hume Corp.		6,700		37,556
Nippon Kayaku Co. Ltd. (d)		25,700		220,266
Nippon Kodoshi Corp.		1,600		19,575
Nippon Light Metal Holdings Co. Ltd.		15,500		183,675
Nippon Paper Industries Co. Ltd. (d)		23,800		183,788
Nippon Parking Development Co. Ltd. - Class C		53,400		71,390
Nippon Pillar Packing Co. Ltd.		4,700		190,892
Nippon Rietec Co. Ltd.		3,700		32,843
Nippon Road Co. Ltd.		4,500		55,954
Nippon Seiki Co. Ltd.		13,100		132,716
Nippon Seisen Co. Ltd. (d)		3,500		30,656
Nippon Sharyo Ltd.		2,600		40,762
Nippon Sheet Glass Co. Ltd. (a)		15,100		51,544
Nippon Shokubai Co. Ltd. (d)		12,400		121,010
Nippon Signal Company Ltd.		11,900		80,879
Nippon Soda Co. Ltd.		5,600		223,925
Nippon Thompson Co. Ltd.		15,700		66,351
Nippon Yakin Kogyo Co. Ltd. (d)		2,800		89,192
Nipro Corp. (d)		36,600		290,357
Nishi-Nippon Financial Holdings, Inc. (d)		28,900		361,609
Nishi-Nippon Railroad Co. Ltd.		15,900		258,904
Nishikawa Rubber Co. Ltd.		1,200		16,815
Nishimatsu Construction Co. Ltd. (d)		8,200		235,785
Nishimatsuya Chain Co. Ltd.		9,800		156,004
Nishimoto Co. Ltd.		1,400		55,363
Nishio Holdings Co. Ltd. (d)		5,200		132,787
Nissan Shatai Co. Ltd. (d)		12,600		86,700
Nissan Tokyo Sales Holdings Co. Ltd.		11,000		43,112
Nissei ASB Machine Co. Ltd.		2,300		78,726
Nissei Plastic Industrial Co. Ltd.		4,500		34,900
Nissha Co. Ltd.		11,100		110,526
Nisshin Group Holdings Co. Ltd.		12,300		41,537
Nisshin Oillio Group Ltd.		5,900		197,824
Nisshinbo Holdings, Inc.		31,620		254,017
Nissin Corp. (d)		3,700		69,848
Nisso Holdings Co. Ltd.		1,400		7,618
Nissui Corp. (d)		71,900		451,012
Nitta Corp.		5,000		130,813
Nitta Gelatin, Inc. (d)		4,500		21,431
NITTAN Corp.		6,300		15,604
Nittetsu Mining Co. Ltd.		2,700		87,107
Nitto Fuji Flour Milling Co. Ltd.		800		28,115
Nitto Kogyo Corp. (d)		6,000		165,043
Nitto Kohki Co. Ltd.		3,200		40,946
Nitto Seiko Co. Ltd.		8,900		37,340
Nittoc Construction Co. Ltd.		5,950		45,752
NJS Co. Ltd.		2,200		44,772

BHFTII-90

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Noevir Holdings Co. Ltd.		3,200	$	109,795
Nohmi Bosai Ltd.		6,100		91,183
Nojima Corp.		15,000		167,240
NOK Corp.		4,700		64,564
Nomura Micro Science Co. Ltd. (d)		5,200		183,184
Noritake Co. Ltd.		5,000		139,062
Noritsu Koki Co. Ltd.		4,600		96,818
Noritz Corp.		7,600		87,041
North Pacific Bank Ltd.		60,100		175,188
NPR-RIKEN Corp. (d)		6,864		140,167
NS Tool Co. Ltd. (d)		4,800		31,053
NS United Kaiun Kaisha Ltd. (d)		2,500		78,047
NSD Co. Ltd.		18,540		358,371
NSW, Inc.		1,900		39,223
NTN Corp.		92,700		193,249
Oat Agrio Co. Ltd.		400		5,406
Obara Group, Inc.		2,700		67,849
Oenon Holdings, Inc. (d)		12,300		28,977
Ogaki Kyoritsu Bank Ltd.		9,400		135,636
Ohara, Inc.		1,600		13,908
Ohashi Technica, Inc.		2,900		31,394
Ohba Co. Ltd.		4,600		31,125
Ohsho Food Service Corp.		3,400		173,620
OIE Sangyo Co. Ltd.		800		8,959
Oiles Corp.		6,200		90,977
Oisix ra daichi, Inc. (a) )		5,600		47,756
Oita Bank Ltd. (d)		3,600		71,896
Okabe Co. Ltd.		9,400		48,383
Okada Aiyon Corp.		1,900		39,562
Okamoto Industries, Inc.		2,800		91,095
Okamoto Machine Tool Works Ltd.		1,400		59,969
Okamura Corp.		14,700		216,439
Okasan Securities Group, Inc. (d)		39,200		209,194
Oki Electric Industry Co. Ltd.		22,700		173,456
Okinawa Cellular Telephone Co.		5,900		139,046
Okinawa Electric Power Co., Inc. (d)		13,527		102,546
Okinawa Financial Group, Inc.		4,760		81,862
OKUMA Corp. (d)		5,900		279,744
Okumura Corp.		7,100		235,886
Okura Industrial Co. Ltd.		2,300		46,981
Okuwa Co. Ltd. (d)		7,400		46,364
Onoken Co. Ltd.		4,300		53,237
Onward Holdings Co. Ltd.		22,500		79,702
Open Up Group, Inc.		4,700		63,671
Optex Group Co. Ltd.		6,800		88,679
Optim Corp. (a)		4,200		28,745
Optorun Co. Ltd.		5,500		74,810
Organo Corp.		6,700		333,270
Oricon, Inc.		1,200		6,787
Orient Corp. (d)		11,670		82,583
Oriental Shiraishi Corp.		33,400		87,301
Origin Co. Ltd.		2,200		17,579
Oro Co. Ltd.		2,100		36,445
Osaka Organic Chemical Industry Ltd.		4,100		86,457
Osaka Soda Co. Ltd. (d)		3,400		215,942
Osaka Steel Co. Ltd. (d)		3,700		53,315
OSAKA Titanium Technologies Co. Ltd. (d)		1,400		24,157
Osaki Electric Co. Ltd.		11,700		52,473
OSG Corp. (d)		20,600		296,307
OUG Holdings, Inc.		700		11,876
Oyo Corp.		4,900		71,259
Ozu Corp.		600		6,980
Pacific Industrial Co. Ltd. (d)		10,200		113,077
Pacific Metals Co. Ltd. (a) (d)		5,100		45,378
Pack Corp.		3,900		96,923
PAL GROUP Holdings Co. Ltd.		8,600		146,068
PALTAC Corp.		2,500		66,336
Paraca, Inc.		300		3,951
Paramount Bed Holdings Co. Ltd.		10,100		171,414
Paris Miki Holdings, Inc.		10,600		28,989
Park24 Co. Ltd. (a)		23,400		275,611
Pasona Group, Inc.		6,200		113,826
PCI Holdings, Inc.		1,800		11,232
Pegasus Co. Ltd.		5,400		19,017
Penta-Ocean Construction Co. Ltd.		19,800		99,278
People Dreams & Technologies Group Co. Ltd.		1,400		16,279
PeptiDream, Inc. (a)		8,000		75,041
PIA Corp. (a)		500		10,556
Pickles Holdings Co. Ltd.		2,600		20,359
Pigeon Corp.		31,900		307,404
Pilot Corp.		5,800		150,594
Piolax, Inc. (d)		7,300		127,859
Pole To Win Holdings, Inc.		7,900		26,700
PR Times Corp. (a)		700		9,478
Premium Group Co. Ltd.		7,800		105,583
Premium Water Holdings, Inc.		500		10,345
Press Kogyo Co. Ltd. (d)		22,400		104,323
Pressance Corp. (d)		4,000		46,774
Prestige International, Inc. (d)		27,100		122,170
Prima Meat Packers Ltd.		6,000		89,845
Pro-Ship, Inc.		2,300		21,804
Procrea Holdings, Inc. (d)		6,521		80,003
Pronexus, Inc.		5,100		41,034
Proto Corp.		7,500		69,793
PS Mitsubishi Construction Co. Ltd.		2,700		18,634
Punch Industry Co. Ltd.		2,700		8,128
QB Net Holdings Co. Ltd.		1,400		11,320
Qol Holdings Co. Ltd.		7,400		84,714
Quick Co. Ltd.		4,000		62,597
Raccoon Holdings, Inc.		4,100		16,609
Raito Kogyo Co. Ltd. (d)		10,700		142,316
Raiznext Corp. (d)		7,700		105,550
Rasa Industries Ltd.		2,600		46,785
Raysum Co. Ltd.		1,000		22,760
Relo Group, Inc.		11,500		93,325
Rengo Co. Ltd.		46,800		356,631
RENOVA, Inc. (a)		5,100		41,810
Resorttrust, Inc.		20,600		352,768
Restar Corp.		4,500		90,124
Retail Partners Co. Ltd.		4,300		52,773
Rheon Automatic Machinery Co. Ltd.		5,000		51,148
Rhythm Co. Ltd. (d)		1,300		33,355
Ricoh Leasing Co. Ltd. (d)		3,500		121,816
Ride On Express Holdings Co. Ltd. (d)		1,700		11,749

BHFTII-91

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Right On Co. Ltd. (a) (d)		5,900	$	16,217
Riken Keiki Co. Ltd. (d)		6,400		161,420
Riken Technos Corp.		9,900		64,760
Riken Vitamin Co. Ltd.		5,400		89,682
Ringer Hut Co. Ltd.		600		9,143
Rion Co. Ltd.		2,200		42,458
Riso Kyoiku Co. Ltd. (d)		34,770		50,601
Rock Field Co. Ltd.		6,600		74,549
Rokko Butter Co. Ltd.		3,600		33,122
Roland Corp.		2,800		85,323
Roland DG Corp.		3,000		107,425
Rorze Corp.		2,500		354,223
Round One Corp.		37,800		195,817
RS Technologies Co. Ltd.		2,800		56,159
Ryobi Ltd.		6,200		123,068
RYODEN Corp. (d)		3,900		68,953
Ryosan Co. Ltd. (b) (c)		3,500		111,673
S Foods, Inc.		4,500		100,039
S&B Foods, Inc.		1,500		43,648
S-Pool, Inc.		18,000		37,265
Sac’s Bar Holdings, Inc.		5,250		30,201
Sagami Rubber Industries Co. Ltd.		1,800		11,487
Saibu Gas Holdings Co. Ltd. (d)		6,400		80,100
Saison Technology Co. Ltd.		600		7,765
Saizeriya Co. Ltd.		2,400		81,798
Sakai Chemical Industry Co. Ltd.		4,700		59,574
Sakai Heavy Industries Ltd.		1,000		44,427
Sakai Moving Service Co. Ltd.		5,600		94,154
Sakata INX Corp.		10,100		105,242
Sakura Internet, Inc. (d)		4,400		179,189
Sala Corp.		13,800		75,517
SAMTY Co. Ltd.		6,200		113,230
San Holdings, Inc.		5,600		39,025
San ju San Financial Group, Inc.		5,770		79,551
San-A Co. Ltd.		5,000		154,715
San-Ai Obbli Co. Ltd. (d)		14,400		196,199
San-In Godo Bank Ltd.		33,700		264,440
Sanden Corp. (a) (d)		4,400		4,930
Sangetsu Corp. (d)		12,100		264,225
Sanken Electric Co. Ltd. (d)		4,000		175,505
Sanki Engineering Co. Ltd.		10,300		143,163
Sanko Metal Industrial Co. Ltd.		1,000		32,419
Sankyo Frontier Co. Ltd.		1,000		28,052
Sankyo Seiko Co. Ltd.		10,800		53,513
Sankyo Tateyama, Inc.		6,500		40,555
Sankyu, Inc.		7,800		268,315
Sanoh Industrial Co. Ltd.		6,300		47,600
Sansei Technologies, Inc.		800		6,770
Sansha Electric Manufacturing Co. Ltd. (d)		2,700		32,180
Sanshin Electronics Co. Ltd.		2,400		33,927
Sanyo Chemical Industries Ltd.		3,300		92,008
Sanyo Denki Co. Ltd. (d)		2,500		116,829
Sanyo Electric Railway Co. Ltd. (d)		4,800		65,882
Sanyo Industries Ltd.		1,300		28,641
Sanyo Shokai Ltd.		2,500		45,181
Sanyo Special Steel Co. Ltd. (d)		5,000		73,663
Sanyo Trading Co. Ltd. (d)		5,300		50,238
Sata Construction Co. Ltd.		2,600		13,312
Sato Holdings Corp. (d)		6,800		104,051
Sato Shoji Corp.		4,100		47,952
Satori Electric Co. Ltd.		2,100		36,287
Sawai Group Holdings Co. Ltd.		7,500		293,325
Saxa Holdings, Inc.		1,800		35,926
SB Technology Corp.		3,000		41,390
SBI ARUHI Corp.		2,000		12,394
SBI Insurance Group Co. Ltd.		1,400		9,851
SBS Holdings, Inc.		5,200		88,914
Scroll Corp.		8,000		50,204
SEC Carbon Ltd.		1,000		17,472
Seed Co. Ltd.		1,700		7,192
Seika Corp.		2,000		49,551
Seikagaku Corp.		9,800		49,120
Seikitokyu Kogyo Co. Ltd. (d)		2,100		26,000
Seiko Group Corp.		7,600		204,839
Seikoh Giken Co. Ltd.		700		8,478
Seino Holdings Co. Ltd.		3,800		52,176
Seiren Co. Ltd. (d)		11,600		210,945
Sekisui Jushi Corp. (d)		6,100		94,628
Sekisui Kasei Co. Ltd.		8,100		26,797
SEMITEC Corp.		1,600		18,692
Senko Group Holdings Co. Ltd.		26,800		200,604
Senshu Electric Co. Ltd. (d)		3,800		125,266
Senshu Ikeda Holdings, Inc. (d)		63,200		163,986
Senshukai Co. Ltd. (a) (d)		11,000		21,789
SERAKU Co. Ltd.		700		5,526
Seria Co. Ltd.		11,900		235,036
Seven Bank Ltd. (d)		33,800		65,520
Shibaura Electronics Co. Ltd.		1,900		78,158
Shibaura Machine Co. Ltd. (d)		5,700		137,940
Shibaura Mechatronics Corp. (d)		2,700		114,806
Shibusawa Warehouse Co. Ltd. (d)		2,800		56,034
Shibuya Corp.		4,400		101,363
Shiga Bank Ltd. (d)		8,700		240,552
Shikibo Ltd.		4,700		35,476
Shikoku Bank Ltd. (d)		8,900		70,843
Shikoku Electric Power Co., Inc.		37,900		296,381
Shikoku Kasei Holdings Corp. (d)		8,700		101,397
Shima Seiki Manufacturing Ltd.		7,000		64,065
Shimizu Bank Ltd.		3,400		36,030
Shimojima Co. Ltd. (d)		4,200		38,426
Shin Nippon Air Technologies Co. Ltd.		2,100		46,547
Shin Nippon Biomedical Laboratories Ltd. (d)		5,300		53,802
Shin-Etsu Polymer Co. Ltd.		11,900		121,081
Shinagawa Refractories Co. Ltd. (d)		6,300		79,193
Shindengen Electric Manufacturing Co. Ltd. (d)		1,900		38,132
Shinki Bus Co. Ltd. (d)		900		20,669
Shinko Shoji Co. Ltd.		8,400		66,132
Shinmaywa Industries Ltd.		15,000		122,161
Shinnihon Corp.		6,300		68,885
Shinnihonseiyaku Co. Ltd.		1,100		12,348
Shinsho Corp.		1,400		66,864
Shinwa Co. Ltd.		5,400		68,935
Ship Healthcare Holdings, Inc.		15,700		216,765
Shizuki Electric Co., Inc.		8,000		23,611

BHFTII-92

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Shizuoka Gas Co. Ltd.		8,800	$	55,041
Shoei Co. Ltd. (d)		12,600		190,460
Shoei Foods Corp.		400		12,419
Shofu, Inc. (d)		3,500		67,070
Showa Sangyo Co. Ltd.		5,700		130,366
SIGMAXYZ Holdings, Inc.		7,200		80,131
Siix Corp.		7,800		88,977
Silver Life Co. Ltd.		900		5,470
Simplex Holdings, Inc.		700		12,918
Sinanen Holdings Co. Ltd. (d)		1,800		59,016
Sinfonia Technology Co. Ltd. (d)		6,200		127,147
Sinko Industries Ltd.		5,600		141,481
Sintokogio Ltd.		8,900		74,299
SK-Electronics Co. Ltd.		2,700		63,699
SKY Perfect JSAT Holdings, Inc. (d)		38,600		263,415
Smaregi, Inc. (a) (d)		1,200		18,514
SMK Corp.		1,700		29,330
SMS Co. Ltd.		8,200		140,661
Snow Peak, Inc. (a) (d)		5,400		44,573
SNT Corp.		7,300		13,612
Soda Nikka Co. Ltd.		4,500		34,029
Sodick Co. Ltd.		11,000		52,337
Soft99 Corp.		5,100		50,298
Softcreate Holdings Corp.		4,600		56,389
Software Service, Inc.		900		75,507
Soken Chemical & Engineering Co. Ltd.		700		14,776
Solasto Corp.		12,800		45,883
Soliton Systems KK		2,500		22,029
Solxyz Co. Ltd.		1,400		3,117
Sotetsu Holdings, Inc.		12,100		216,303
Sotoh Co. Ltd.		3,100		14,540
Space Co. Ltd.		5,060		34,318
Sparx Group Co. Ltd.		5,840		72,584
SPK Corp.		2,600		35,346
Sprix, Inc.		1,300		6,974
SRA Holdings		3,100		80,903
SRE Holdings Corp. (a) (d)		1,900		52,710
ST Corp.		4,100		41,661
St-Care Holding Corp.		2,300		13,679
St. Marc Holdings Co. Ltd. (d)		5,100		71,596
Star Mica Holdings Co. Ltd.		6,000		24,589
Star Micronics Co. Ltd.		9,200		112,596
Starts Corp., Inc.		7,900		164,274
Starzen Co. Ltd.		3,700		69,017
Stella Chemifa Corp.		2,500		60,519
Step Co. Ltd.		2,500		32,644
Strike Co. Ltd.		2,200		70,434
Studio Alice Co. Ltd. (d)		2,900		39,482
Subaru Enterprise Co. Ltd.		500		8,857
Sugimoto & Co. Ltd.		3,000		44,773
Sumida Corp.		7,500		60,107
Suminoe Textile Co. Ltd.		1,400		24,015
Sumitomo Bakelite Co. Ltd. (d)		10,800		325,394
Sumitomo Densetsu Co. Ltd.		4,900		109,135
Sumitomo Mitsui Construction Co. Ltd.		40,360		113,430
Sumitomo Osaka Cement Co. Ltd. (d)		7,100		177,593
Sumitomo Pharma Co. Ltd. (a)		18,600		47,872
Sumitomo Riko Co. Ltd.		10,100		89,389
Sumitomo Seika Chemicals Co. Ltd.		2,200		73,396
Sumitomo Warehouse Co. Ltd. (d)		12,000		201,715
Sun Frontier Fudousan Co. Ltd.		7,100		87,700
Sun-Wa Technos Corp.		3,000		47,621
Suncall Corp. (d)		8,300		26,518
Suruga Bank Ltd. (d)		39,500		229,922
Suzuki Co. Ltd.		3,300		27,617
SWCC Corp.		7,600		190,196
System Research Co. Ltd.		2,400		25,707
Systems Engineering Consultants Co. Ltd.		600		19,241
Systena Corp. (d)		71,400		126,676
Syuppin Co. Ltd.		6,100		47,597
T Hasegawa Co. Ltd.		4,500		90,573
T RAD Co. Ltd.		1,900		49,375
T-Gaia Corp.		5,200		69,931
Tachi-S Co. Ltd. (d)		7,300		96,053
Tachibana Eletech Co. Ltd.		4,240		90,461
Tachikawa Corp.		3,100		30,275
Tadano Ltd.		25,900		221,411
Taihei Dengyo Kaisha Ltd.		2,900		88,313
Taiheiyo Cement Corp.		13,700		315,061
Taiheiyo Kouhatsu, Inc.		2,100		11,246
Taiho Kogyo Co. Ltd.		6,400		39,434
Taikisha Ltd. (d)		5,800		180,710
Taiko Bank Ltd.		3,100		30,912
Taisei Lamick Co. Ltd.		2,200		42,896
Taiyo Holdings Co. Ltd.		9,800		215,897
Takamatsu Construction Group Co. Ltd. (d)		3,700		68,866
Takamiya Co. Ltd.		5,200		19,981
Takano Co. Ltd. (d)		4,600		31,821
Takaoka Toko Co. Ltd.		3,165		53,115
Takara & Co. Ltd.		1,300		23,841
Takara Bio, Inc.		11,100		71,520
Takara Holdings, Inc. (d)		36,400		261,785
Takara Standard Co. Ltd.		8,300		104,965
Takasago International Corp.		3,600		81,751
Takasago Thermal Engineering Co. Ltd. (d)		10,200		324,525
Takashima & Co. Ltd.		4,700		39,842
Takashimaya Co. Ltd.		3,800		60,583
Takemoto Yohki Co. Ltd.		1,200		6,282
Takeuchi Manufacturing Co. Ltd.		8,600		344,687
Takuma Co. Ltd.		12,900		160,003
Tama Home Co. Ltd.		4,000		118,634
Tamron Co. Ltd.		5,100		227,263
Tamura Corp. (d)		22,100		86,911
Tanseisha Co. Ltd.		11,750		67,916
Tatsuta Electric Wire & Cable Co. Ltd. (a) (d)		14,200		65,568
Tayca Corp.		4,000		40,152
Tazmo Co. Ltd.		2,500		62,130
Tbk Co. Ltd.		8,000		20,014
TDC Soft, Inc. (d)		9,800		71,893
TechMatrix Corp.		9,800		117,839
Techno Medica Co. Ltd.		2,400		27,595
Techno Ryowa Ltd.		3,400		46,370
Teijin Ltd. (d)		32,500		294,945
Teikoku Electric Manufacturing Co. Ltd.		4,200		70,224

BHFTII-93

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Teikoku Sen-I Co. Ltd.		4,900	$	74,626
Teikoku Tsushin Kogyo Co. Ltd.		3,000		37,492
Tekken Corp.		2,700		48,173
Temairazu, Inc.		700		14,889
Tenma Corp.		3,600		53,813
Tess Holdings Co. Ltd.		2,600		7,946
Tigers Polymer Corp.		2,200		16,305
TKC Corp.		6,900		169,124
TKP Corp. (a)		2,100		24,354
Toa Corp.		19,200		151,739
TOA ROAD Corp. (d)		7,500		61,911
Toagosei Co. Ltd.		21,600		226,096
Tobishima Corp.		5,560		54,281
TOC Co. Ltd.		7,900		36,286
Tocalo Co. Ltd. (d)		16,400		192,197
Tochigi Bank Ltd. (d)		27,400		66,064
Toda Corp.		36,000		240,478
Toda Kogyo Corp. (a)		600		7,147
Toei Co. Ltd.		2,000		50,759
Toell Co. Ltd. (d)		3,100		17,110
Toenec Corp.		1,900		72,274
Toho Bank Ltd. (d)		48,700		115,385
Toho Co. Ltd. (d)		1,700		33,023
Toho Gas Co. Ltd. (d)		11,200		247,770
Toho Holdings Co. Ltd.		13,700		325,364
Toho Titanium Co. Ltd. (d)		8,200		85,028
Toho Zinc Co. Ltd. (a)		3,400		24,754
Tohoku Bank Ltd.		4,700		39,017
Tohokushinsha Film Corp. (d)		4,800		44,095
Tokai Carbon Co. Ltd.		42,000		278,290
Tokai Corp.		5,800		82,554
TOKAI Holdings Corp. (d)		24,700		160,875
Tokai Rika Co. Ltd. (d)		13,200		226,341
Tokai Tokyo Financial Holdings, Inc.		46,600		185,449
Token Corp.		1,560		108,658
Tokushu Tokai Paper Co. Ltd.		2,500		65,633
Tokuyama Corp.		14,400		252,024
Tokyo Base Co. Ltd. (d)		4,100		8,152
Tokyo Electron Device Ltd. (d)		4,600		209,765
Tokyo Energy & Systems, Inc.		4,700		38,119
Tokyo Individualized Educational Institute, Inc.		2,500		7,106
Tokyo Keiki, Inc.		4,200		71,994
Tokyo Kiraboshi Financial Group, Inc.		5,624		174,298
Tokyo Rope Manufacturing Co. Ltd.		2,800		26,473
Tokyo Sangyo Co. Ltd.		5,500		26,037
Tokyo Steel Manufacturing Co. Ltd. (d)		16,200		177,470
Tokyo Tekko Co. Ltd. (d)		2,000		69,407
Tokyo Theatres Co., Inc. (d)		2,900		21,334
Tokyotokeiba Co. Ltd.		4,200		124,188
Tokyu Construction Co. Ltd.		21,400		116,928
Toli Corp.		15,600		42,738
Tomato Bank Ltd.		4,200		35,187
Tomen Devices Corp.		800		34,732
Tomoe Corp.		9,800		47,963
Tomoe Engineering Co. Ltd.		2,100		61,042
Tomoku Co. Ltd.		3,000		52,150
TOMONY Holdings, Inc. (d)		40,500		111,474
Tomy Co. Ltd.		21,000		383,524
Tonami Holdings Co. Ltd.		1,300		39,201
Topcon Corp.		26,400		305,314
Topre Corp.		9,800		166,705
Topy Industries Ltd.		4,000		71,289
Torex Semiconductor Ltd.		500		6,073
Toridoll Holdings Corp. (d)		6,500		177,570
Torigoe Co. Ltd.		6,000		28,184
Torii Pharmaceutical Co. Ltd.		3,500		95,311
Torishima Pump Manufacturing Co. Ltd.		5,200		96,918
Tosei Corp.		7,100		112,509
Toshiba TEC Corp.		6,000		119,423
Totech Corp. (d)		2,100		41,713
Totetsu Kogyo Co. Ltd.		6,500		128,169
Tottori Bank Ltd.		3,700		36,416
Toukei Computer Co. Ltd.		600		14,191
Towa Bank Ltd.		9,000		42,740
Towa Corp. (d)		5,700		379,175
Towa Pharmaceutical Co. Ltd.		6,800		131,655
Toyo Construction Co. Ltd. (d)		25,499		218,597
Toyo Corp.		7,900		80,055
Toyo Denki Seizo KK		3,200		25,161
Toyo Engineering Corp.		8,200		51,764
Toyo Gosei Co. Ltd. (d)		800		51,402
Toyo Kanetsu KK		2,000		58,797
Toyo Machinery & Metal Co. Ltd.		6,000		30,351
Toyo Securities Co. Ltd.		14,100		37,131
Toyo Tanso Co. Ltd.		3,600		191,906
Toyo Tire Corp.		10,000		189,041
Toyo Wharf & Warehouse Co. Ltd.		2,500		23,031
Toyobo Co. Ltd.		22,100		162,446
TPR Co. Ltd. (d)		6,300		98,113
Traders Holdings Co. Ltd.		2,800		13,344
Trancom Co. Ltd.		2,000		80,237
Trans Genic, Inc.		2,700		4,281
Transaction Co. Ltd.		1,400		21,091
Transcosmos, Inc.		4,200		85,595
TRE Holdings Corp.		5,600		44,558
Trusco Nakayama Corp.		11,300		191,328
TS Tech Co. Ltd.		20,700		262,953
TSI Holdings Co. Ltd. (d)		14,405		74,933
Tsubaki Nakashima Co. Ltd.		10,100		55,330
Tsubakimoto Chain Co.		6,300		211,901
Tsubakimoto Kogyo Co. Ltd.		3,600		53,222
Tsugami Corp.		10,600		80,494
Tsukishima Holdings Co. Ltd. (d)		7,200		67,403
Tsukuba Bank Ltd.		19,200		38,270
Tsumura & Co.		15,000		374,159
Tsurumi Manufacturing Co. Ltd. (d)		4,500		111,281
Tsutsumi Jewelry Co. Ltd.		700		9,588
TV Asahi Holdings Corp.		6,300		86,769
Tv Tokyo Holdings Corp.		1,800		35,235
TYK Corp.		6,000		18,947
U-Next Holdings Co. Ltd.		2,700		92,511
UACJ Corp.		7,985		228,159
UBE Corp.		21,300		379,377
Ubicom Holdings, Inc.		500		4,186

BHFTII-94

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Uchida Yoko Co. Ltd.		2,100	$	95,874
Ueki Corp.		2,200		24,029
ULS Group, Inc.		600		16,295
Union Tool Co. (d)		2,900		85,078
Unipres Corp. (d)		10,600		81,481
United Arrows Ltd.		3,100		39,955
United Super Markets Holdings, Inc. (d)		15,500		102,091
UNITED, Inc.		6,000		35,150
Unitika Ltd. (a)		15,600		17,158
Universal Entertainment Corp.		6,100		77,609
Urbanet Corp. Co. Ltd.		4,500		12,469
Ushio, Inc. (d)		23,100		295,163
UT Group Co. Ltd.		6,600		154,282
V Technology Co. Ltd.		2,700		44,470
V-Cube, Inc. (a)		2,100		3,620
Valor Holdings Co. Ltd. (d)		9,000		147,025
Valqua Ltd. (d)		4,600		153,923
Value HR Co. Ltd.		2,000		17,646
ValueCommerce Co. Ltd.		4,300		30,370
Vector, Inc.		8,200		63,519
Vertex Corp.		3,000		32,665
Village Vanguard Co. Ltd. (a)		2,300		15,926
Vision, Inc. (a)		4,000		32,315
Visional, Inc. (a)		1,900		121,731
Vital KSK Holdings, Inc.		9,100		74,777
VT Holdings Co. Ltd.		19,800		70,044
Wacoal Holdings Corp. (d)		10,100		246,327
Wacom Co. Ltd. (d)		1,800		7,713
Wakachiku Construction Co. Ltd.		1,900		45,621
Wakita & Co. Ltd.		9,700		102,387
Warabeya Nichiyo Holdings Co. Ltd.		3,700		67,057
Waseda Academy Co. Ltd.		1,400		14,590
Watahan & Co. Ltd.		3,200		32,818
Watts Co. Ltd.		1,900		8,384
WDB Holdings Co. Ltd.		2,700		41,071
Weathernews, Inc.		1,500		50,596
Welbe, Inc.		2,300		16,494
Wellneo Sugar Co. Ltd.		2,400		36,631
Wellnet Corp.		4,400		16,298
West Holdings Corp. (d)		5,629		106,567
Will Group, Inc.		4,200		29,335
WingArc1st, Inc.		1,800		36,258
Wood One Co. Ltd.		2,600		18,037
World Co. Ltd.		5,000		69,019
World Holdings Co. Ltd.		2,500		42,248
Wowow, Inc.		2,200		16,401
Xebio Holdings Co. Ltd.		7,300		46,587
Yahagi Construction Co. Ltd.		7,300		74,681
YAKUODO Holdings Co. Ltd.		2,900		50,372
YAMABIKO Corp.		7,900		104,722
YAMADA Consulting Group Co. Ltd.		3,100		36,271
Yamagata Bank Ltd.		6,900		53,415
Yamaguchi Financial Group, Inc. (d)		42,800		434,307
Yamaichi Electronics Co. Ltd. (d)		6,100		97,435
Yamanashi Chuo Bank Ltd. (d)		6,300		78,127
Yamatane Corp.		2,600		50,831
Yamato Corp.		5,000		35,875
Yamaura Corp. (d)		2,800		26,789
Yamaya Corp.		1,150		24,480
Yamazawa Co. Ltd.		1,000		8,230
Yamazen Corp.		15,000		132,606
Yaoko Co. Ltd. (d)		2,600		156,105
Yashima Denki Co. Ltd.		7,500		77,216
Yasuda Logistics Corp.		4,900		39,017
Yasunaga Corp. (d)		1,700		8,058
Yellow Hat Ltd.		9,200		120,354
Yodogawa Steel Works Ltd. (d)		5,500		166,260
Yokogawa Bridge Holdings Corp.		8,600		165,892
Yokorei Co. Ltd.		12,500		85,007
Yokowo Co. Ltd.		4,300		43,783
Yomeishu Seizo Co. Ltd.		2,400		29,653
Yondenko Corp.		2,400		63,310
Yondoshi Holdings, Inc.		4,600		56,420
Yonex Co. Ltd. (d)		9,500		69,514
Yorozu Corp. (d)		6,500		41,382
Yoshinoya Holdings Co. Ltd.		16,100		359,149
Yotai Refractories Co. Ltd.		4,100		39,678
Yuasa Funashoku Co. Ltd.		1,300		30,658
Yuasa Trading Co. Ltd.		4,400		153,548
Yuken Kogyo Co. Ltd.		1,300		19,912
Yukiguni Maitake Co. Ltd.		2,100		14,663
Yurtec Corp.		10,300		100,675
Yushin Precision Equipment Co. Ltd.		2,900		13,122
Yushiro Chemical Industry Co. Ltd.		3,700		54,505
Yutaka Giken Co. Ltd.		600		10,474
Zaoh Co. Ltd.		800		13,449
Zenrin Co. Ltd.		9,750		54,866
ZERIA Pharmaceutical Co. Ltd.		2,800		39,125
ZIGExN Co. Ltd.		8,400		33,401
Zojirushi Corp.		900		8,545
Zuiko Corp.		4,000		36,755

				127,813,946


Jersey, Channel Islands—0.1%
Centamin PLC		356,454		508,491


Jordan—0.1%
Hikma Pharmaceuticals PLC		17,728		428,849


Liechtenstein—0.1%
Liechtensteinische Landesbank AG		3,366		273,814
VP Bank AG - Class A		1,049		109,095

				382,909


Luxembourg—0.3%
ADLER Group SA (a)		1,495		289
Aperam SA		10,690		337,904
Befesa SA		9,306		320,091
L’Occitane International SA		51,500		208,405
RTL Group SA (d)		1,635		55,173
SES SA		84,181		561,007

				1,482,869

BHFTII-95

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Macau—0.0%
MECOM Power & Construction Ltd. (a)		211,500	$	4,703
SJM Holdings Ltd. (a) (d)		384,249		117,379

				122,082


Malta—0.0%
Gaming Innovation Group, Inc. (a)		5,882		18,426


Mongolia—0.0%
Mongolian Mining Corp. (a)		33,000		38,317


Netherlands—2.0%
Aalberts NV		21,747		1,044,567
Acomo NV		2,850		53,978
Alfen NV (a) (d)		4,827		260,279
AMG Critical Materials NV (d)		6,652		150,735
Arcadis NV		18,701		1,144,355
Basic-Fit NV (a) (d)		8,733		194,635
BE Semiconductor Industries NV		14,828		2,263,960
Brack Capital Properties NV (a)		856		54,057
Brunel International NV		6,045		66,351
Corbion NV		15,315		327,753
CTP NV		12,784		227,688
Flow Traders Ltd. (d)		8,710		171,580
ForFarmers NV		10,101		28,279
Fugro NV (a)		26,059		638,238
Just Eat Takeaway.com NV (a) (d)		975		14,521
Kendrion NV (d)		3,766		55,791
Koninklijke BAM Groep NV		68,574		259,545
Koninklijke Heijmans NV		6,019		111,358
Koninklijke Vopak NV		13,444		518,031
Nedap NV		1,575		114,837
New World Resources PLC - Class A (a) (b) (c)		11,898		0
OCI NV		12,506		342,270
Pharming Group NV (a) (d)		76,183		83,666
PostNL NV		85,361		116,118
Redcare Pharmacy NV (a)		434		71,005
SBM Offshore NV		29,300		468,320
SIF Holding NV (a)		1,469		16,953
Signify NV		28,840		888,111
Sligro Food Group NV (d)		6,049		91,495
TKH Group NV		10,606		451,360
TomTom NV (a)(d)		18,862		150,755
Van Lanschot Kempen NV		6,057		205,664

				10,586,255


New Zealand—0.3%
Air New Zealand Ltd.		216,039		77,827
Arvida Group Ltd.		96,446		63,958
Briscoe Group Ltd.		13,123		35,825
Channel Infrastructure NZ Ltd. (d)		39,302		35,692
Chorus Ltd.		29,655		136,302
Delegat Group Ltd.		6,671		26,342
Eroad Ltd. (a)		7,847		3,846
Freightways Group Ltd.		26,416		139,733
Gentrack Group Ltd. (a)		7,810		41,524
Hallenstein Glasson Holdings Ltd.		13,182		50,753
Heartland Group Holdings Ltd. (d)		132,128		101,073
Investore Property Ltd.		48,686		33,744
KMD Brands Ltd.		106,864		35,127
Manawa Energy Ltd.		13,980		38,017
Michael Hill International Ltd.		82,929		36,165
NZME Ltd.		71,247		40,859
NZX Ltd.		84,972		53,426
Oceania Healthcare Ltd.		113,418		42,715
Pacific Edge Ltd. (a)		89,677		4,550
PGG Wrightson Ltd.		5,854		7,621
Restaurant Brands New Zealand Ltd.		7,507		15,701
Sanford Ltd.		17,782		40,648
Scales Corp. Ltd.		25,709		51,462
Serko Ltd. (a)		5,880		13,661
Skellerup Holdings Ltd.		34,311		92,284
SKY Network Television Ltd.		38,232		64,641
SKYCITY Entertainment Group Ltd.		133,795		166,280
Steel & Tube Holdings Ltd. (d)		51,732		32,148
Summerset Group Holdings Ltd.		23,059		157,162
Synlait Milk Ltd. (a) (b) (c) (d)		17,226		7,742
Tourism Holdings Ltd.		27,545		52,351
TOWER Ltd. (a)		53,852		22,383
Turners Automotive Group Ltd.		9,008		24,757
Warehouse Group Ltd.		26,369		24,424

				1,770,743


Norway—0.6%
2020 Bulkers Ltd.		3,023		41,589
ABG Sundal Collier Holding ASA		134,443		75,604
AF Gruppen ASA		720		9,234
Akastor ASA (a)		47,184		47,765
Aker Carbon Capture ASA (a)		38,063		20,338
AMSC ASA		16,816		42,356
ArcticZymes Technologies ASA (a)		4,578		12,388
Atea ASA		14,965		179,347
Austevoll Seafood ASA		3,599		28,291
Avance Gas Holding Ltd.		2,240		25,544
Axactor ASA (a)		50,628		21,780
B2 Impact ASA		54,575		40,435
Belships ASA		6,016		11,603
Bluenord ASA (a)		3,930		207,399
Bonheur ASA		5,418		119,542
Borregaard ASA		9,707		169,164
Bouvet ASA		11,240		63,895
BW Offshore Ltd.		24,958		62,756
Cloudberry Clean Energy ASA (a)		5,774		5,294
Crayon Group Holding ASA (a)		9,599		71,087
DNO ASA		94,590		85,433
Elmera Group ASA		17,814		56,357
Europris ASA		42,752		307,859
Gram Car Carriers ASA		1,482		27,298
Grieg Seafood ASA		10,403		65,153
Hexagon Composites ASA (a)		32,350		56,056
Hexagon Purus ASA (a)		12,472		7,158
Itera ASA		17,553		19,274
Kid ASA		4,010		52,476

BHFTII-96

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Norway—(Continued)
Kitron ASA		28,832	$	90,512
Klaveness Combination Carriers ASA		2,039		17,703
LINK Mobility Group Holding ASA (a)		18,904		34,632
Medistim ASA		1,762		30,315
MPC Container Ships ASA		39,419		45,693
Multiconsult ASA		1,528		20,821
Nekkar ASA (a)		8,927		8,221
Norbit ASA		2,097		13,354
Norske Skog ASA		5,807		17,980
Norwegian Air Shuttle ASA (a)		68,212		103,564
Odfjell Drilling Ltd.		25,648		115,997
Odfjell SE - A Shares		1,949		24,591
OKEA ASA		884		2,040
Panoro Energy ASA		4,804		11,894
Pareto Bank ASA		2,287		12,380
PGS ASA (a)		142,218		102,735
Protector Forsikring ASA		12,572		262,926
REC Silicon ASA (a)		64,361		63,706
Scatec ASA		10,806		72,086
Selvaag Bolig ASA		13,262		44,477
Sparebank 1 Oestlandet		3,002		34,514
SpareBank 1 Sorost-Norge		3,854		23,830
Sparebanken More (a)		2,450		20,587
Veidekke ASA		22,122		240,174
Wilh Wilhelmsen Holding ASA - Class A		2,124		68,296
XXL ASA (a)(d)		193,565		16,605
Zaptec ASA (a)		7,253		11,589

				3,443,697


Peru—0.0%
Hochschild Mining PLC (a)		95,965		154,146


Philippines—0.0%
Del Monte Pacific Ltd.		77,636		6,840


Poland—0.1%
InPost SA (a)		16,422		253,093


Portugal—0.4%
Altri SGPS SA		22,337		125,988
Banco Comercial Portugues SA - Class R (a)		2,143,248		723,378
Corticeira Amorim SGPS SA		2,047		21,703
CTT-Correios de Portugal SA		24,574		109,464
Greenvolt-Energias Renovaveis SA (a)		9,644		84,851
Mota-Engil SGPS SA		25,385		131,759
Navigator Co. SA (d)		64,155		280,217
NOS SGPS SA		53,329		208,570
REN - Redes Energeticas Nacionais SGPS SA		112,114		266,066
Sonae SGPS SA		236,930		224,833

				2,176,829


Singapore—1.1%
Abterra Ltd. (a) (b) (c)		51,720		0
AEM Holdings Ltd.		46,700		75,777
Avarga Ltd. (a)		46,000		6,100
Banyan Tree Holdings Ltd. (a)		97,700		27,845
Best World International Ltd. (a)		17,862		28,045
Bonvests Holdings Ltd.		18,000		11,931
Boustead Singapore Ltd.		82,025		58,341
Bukit Sembawang Estates Ltd.		56,100		130,861
BW LPG Ltd.		16,087		180,856
Capitaland India Trust		220,172		171,328
Centurion Corp. Ltd.		98,400		30,959
China Aviation Oil Singapore Corp. Ltd.		55,000		36,869
Chuan Hup Holdings Ltd.		125,000		17,136
ComfortDelGro Corp. Ltd.		398,200		412,643
COSCO Shipping International Singapore Co. Ltd. (a)		214,300		23,032
Creative Technology Ltd. (a)		16,300		14,603
CSE Global Ltd.		114,300		36,411
CW Group Holdings Ltd. (a) (b) (c)		106,000		0
Delfi Ltd.		80,600		53,729
Ezion Holdings Ltd. (a) (b) (c)		753,729		1
Ezra Holdings Ltd. (a) (b) (c)		1,000,703		1
Far East Orchard Ltd.		76,120		56,370
First Resources Ltd.		97,300		98,739
Food Empire Holdings Ltd.		54,000		54,412
Fraser & Neave Ltd.		36,400		28,058
Frencken Group Ltd.		57,600		71,284
Fu Yu Corp. Ltd.		98,800		8,698
Gallant Venture Ltd. (a)		257,900		24,830
Geo Energy Resources Ltd.		155,000		39,555
Golden Agri-Resources Ltd.		1,125,500		226,049
GuocoLand Ltd.		68,800		76,432
Haw Par Corp. Ltd.		18,900		135,506
Hiap Hoe Ltd.		58,000		28,050
Ho Bee Land Ltd.		49,800		62,674
Hong Fok Corp. Ltd.		90,940		55,904
Hong Leong Asia Ltd.		52,600		23,556
Hong Leong Finance Ltd.		43,900		80,961
Hotel Grand Central Ltd.		26,435		15,456
Hour Glass Ltd.		51,300		60,789
HRnetgroup Ltd.		67,700		36,351
Hyflux Ltd. (a) (b) (c)		179,500		0
iFAST Corp. Ltd.		25,500		125,905
IGG, Inc. (a)		192,000		80,964
Indofood Agri Resources Ltd.		152,000		33,782
InnoTek Ltd.		17,400		5,729
Japfa Ltd.		98,670		19,379
Kenon Holdings Ltd.		892		23,364
Keppel Infrastructure Trust		823,428		301,915
KSH Holdings Ltd.		25,700		4,778
Low Keng Huat Singapore Ltd.		122,600		28,147
Metro Holdings Ltd.		141,600		51,390
Mewah International, Inc.		110,000		22,811
Midas Holdings Ltd. (a) (b) (c)		452,000		0
mm2 Asia Ltd. (a)		449,400		7,006
Nanofilm Technologies International Ltd.		29,200		15,468
Netlink NBN Trust		345,500		218,719
NSL Ltd.		15,000		7,889
OM Holdings Ltd.		21,506		6,091
OUE Ltd.		70,300		56,754
Oxley Holdings Ltd. (a)		268,718		17,309
Pan-United Corp. Ltd.		53,750		17,515

BHFTII-97

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Singapore—(Continued)
Propnex Ltd.		15,400	$	10,499
PSC Corp. Ltd.		19,000		5,002
Q&M Dental Group Singapore Ltd.		50,160		9,293
QAF Ltd.		74,167		46,427
Raffles Education Ltd. (a)		335,506		11,776
Raffles Medical Group Ltd.		178,511		137,406
Rickmers Maritime (a) (b) (c)		110,000		0
SATS Ltd. (a)		123,039		236,968
SBS Transit Ltd.		25,600		49,301
Sheng Siong Group Ltd.		146,100		165,531
SHS Holdings Ltd.		47,000		4,177
SIA Engineering Co. Ltd.		55,200		92,405
SIIC Environment Holdings Ltd.		220,300		26,759
Sinarmas Land Ltd.		618,500		74,196
Sing Holdings Ltd.		82,000		20,041
Singapore Land Group Ltd.		20,800		27,560
Singapore Post Ltd.		259,000		80,546
Stamford Land Corp. Ltd.		220,201		64,409
StarHub Ltd.		117,100		102,348
Straits Trading Co. Ltd.		14,224		15,486
Swiber Holdings Ltd. (a) (b) (c)		235,498		0
Thomson Medical Group Ltd.		328,600		12,665
Tuan Sing Holdings Ltd.		189,225		35,016
UMS Holdings Ltd.		132,112		132,247
United Overseas Insurance Ltd.		4,000		17,834
UOB-Kay Hian Holdings Ltd.		135,107		138,065
Venture Corp. Ltd.		36,900		389,764
Vicom Ltd.		26,000		26,769
Wee Hur Holdings Ltd.		85,000		11,648
Wing Tai Holdings Ltd.		109,921		114,795
Yeo Hiap Seng Ltd.		20,155		8,730

				5,612,720


Spain—2.4%
Acerinox SA		35,335		387,530
Aedas Homes SA		1,081		20,271
Almirall SA		19,817		176,551
Amper SA (a) (d)		302,851		26,696
Applus Services SA		31,502		388,795
Atresmedia Corp. de Medios de Comunicacion SA		23,928		114,421
Azkoyen SA		3,142		20,542
Banco de Sabadell SA		1,284,673		2,016,889
Bankinter SA (d)		169,125		1,236,842
Caja de Ahorros del Mediterraneo (a) (b) (c) (d)		14,621		0
Cia de Distribucion Integral Logista Holdings SA		12,772		356,899
CIE Automotive SA		9,875		283,241
Construcciones y Auxiliar de Ferrocarriles SA		4,120		150,187
Distribuidora Internacional de Alimentacion SA (a)		2,455,491		33,376
Ebro Foods SA (d)		14,580		242,867
eDreams ODIGEO SA (a)		17,603		128,201
Elecnor SA		8,759		181,841
Enagas SA		52,283		776,973
Ence Energia y Celulosa SA (d)		32,907		114,543
Ercros SA (d)		20,859		78,989
Faes Farma SA		79,672		270,166
Fluidra SA		14,698		347,626
Gestamp Automocion SA		22,065		70,892
Global Dominion Access SA		22,659		82,259
Grenergy Renovables SA (a) (d)		1,152		30,254
Grifols SA (a)		10,113		90,880
Grupo Catalana Occidente SA		8,863		338,858
Grupo Empresarial San Jose SA (d)		8,320		36,264
Iberpapel Gestion SA		1,128		22,636
Indra Sistemas SA (d)		40,952		848,576
Laboratorios Farmaceuticos Rovi SA		4,590		400,386
Linea Directa Aseguradora SA Cia de Seguros y Reaseguros (d)		186,237		185,796
Mapfre SA		182,747		461,785
Melia Hotels International SA (a)		31,617		255,517
Miquel y Costas & Miquel SA		8,745		110,387
Neinor Homes SA		4,237		46,443
Obrascon Huarte Lain SA (a)		47,913		18,094
Pharma Mar SA		2,214		68,597
Prim SA		3,013		32,846
Promotora de Informaciones SA - Class A (a)		83,921		31,779
Prosegur Cash SA		28,432		14,694
Realia Business SA		109,360		120,345
Sacyr SA		101,249		373,384
Solaria Energia y Medio Ambiente SA (a)		19,439		211,943
Talgo SA		23,239		112,659
Tecnicas Reunidas SA (a)		11,864		96,203
Tubacex SA		28,472		102,443
Unicaja Banco SA		267,421		330,977
Vidrala SA		5,440		564,642
Viscofan SA		9,786		621,650
Vocento SA		18,128		15,998

				13,050,633


Sweden — 2.5%
AcadeMedia AB		21,250		96,364
AddLife AB - Class B		6,958		72,729
Addnode Group AB		29,228		312,317
AFRY AB		16,879		269,135
Alimak Group AB		13,678		125,133
Alleima AB		11,513		77,607
Alligo AB - Class B		8,890		127,902
Ambea AB		6,559		39,022
Annehem Fastigheter AB - Class B (a) (d)		11,788		20,153
AQ Group AB		1,582		79,070
Arise AB		2,539		9,734
Arjo AB - B Shares		55,404		264,479
Attendo AB (a)		28,610		109,048
Beijer Alma AB		13,962		252,259
Bergman & Beving AB		9,571		187,303
Betsson AB - Class B		38,092		376,607
BHG Group AB (a)		13,680		23,642
Bilia AB - A Shares		20,857		266,864
BioGaia AB - B Shares		3,014		35,170
BioInvent International AB (a)		2,421		3,845
Biotage AB		4,286		72,838
Bonava AB - B Shares (a)		54,204		53,520
Boozt AB (a)		5,455		71,512
Bravida Holding AB		5,903		51,639

BHFTII-98

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Sweden—(Continued)
Bufab AB		8,362	$	327,712
Bulten AB		4,294		29,486
Bure Equity AB		10,783		345,091
Byggmax Group AB (a)		18,326		61,634
Catella AB		2,281		6,489
Catena AB		6,814		333,168
Cellavision AB		2,146		47,790
Cibus Nordic Real Estate AB publ		2,907		38,081
Clas Ohlson AB - B Shares		14,546		197,048
Cloetta AB - B Shares		61,762		104,927
Coor Service Management Holding AB		24,209		113,364
Corem Property Group AB - Class B (d)		68,633		69,877
Corem Property Group AB - Class D		1,405		30,452
CTT Systems AB		466		14,449
Dios Fastigheter AB		26,164		210,458
Dometic Group AB		8,120		65,647
Dustin Group AB (a)		75,208		88,605
Eastnine AB		5,243		87,163
Elanders AB - B Shares		1,453		16,937
Electrolux Professional AB - Class B		46,563		303,917
Eltel AB (a)		18,428		12,436
Enea AB (a)		4,082		19,643
Eolus Vind AB - B Shares		935		6,486
Ependion AB		7,843		79,131
Ework Group AB		2,864		39,703
Fagerhult Group AB		11,446		78,967
Fastighets AB Trianon (a)		3,988		6,979
FastPartner AB - Class A		10,644		76,569
Ferronordic AB		275		1,775
Fingerprint Cards AB - Class B (a)(d)		51,699		5,064
FormPipe Software AB (a)		2,450		6,703
G5 Entertainment AB		208		2,524
Granges AB		31,689		342,568
Heba Fastighets AB - Class B		19,054		61,750
Hemnet Group AB		8,390		256,639
HMS Networks AB (d)		4,108		177,869
Hoist Finance AB (a)		12,983		64,369
Humana AB (a)		6,890		15,802
Instalco AB		38,975		153,838
Inwido AB		16,291		221,929
ITAB Shop Concept AB		1,944		3,682
JM AB (d)		14,820		302,300
K-fast Holding AB (a)		5,617		11,177
Karnov Group AB (a)		14,120		87,146
KNOW IT AB (d)		6,672		98,471
Lime Technologies AB		1,294		45,571
Lindab International AB		21,935		470,444
Loomis AB		4,615		128,671
Medcap AB (a)		879		31,325
MEKO AB		11,543		129,898
Modern Times Group MTG AB - Class B (a)		23,462		183,135
Momentum Group AB		8,890		107,557
Mycronic AB		717		25,285
NCAB Group AB (d)		20,370		133,499
NCC AB - B Shares		17,089		235,028
Nederman Holding AB		6,257		102,589
Net Insight AB - Class B (a)		74,697		41,251
New Wave Group AB - B Shares		29,604		353,560
Nilorngruppen AB - B Shares		1,106		6,712
Nobia AB (a)		40,224		16,534
Nolato AB - B Shares (d)		47,680		213,006
Nordic Paper Holding AB		2,747		13,627
Nordic Waterproofing Holding AB (d)		6,754		103,490
Norion Bank AB (a)		5,059		22,078
Note AB (a)		2,362		31,864
NP3 Fastigheter AB		8,531		176,133
Nyfosa AB		44,721		440,739
OEM International AB - B Shares		22,800		223,656
Orron Energy AB (a)		9,493		6,298
Ovzon AB (a)		673		838
Peab AB - Class B		17,159		107,919
Platzer Fastigheter Holding AB - Class B		15,422		132,740
Pricer AB - B Shares (a)		45,096		43,081
Proact IT Group AB		8,496		87,749
Ratos AB - B Shares		61,820		203,019
RaySearch Laboratories AB (a)		7,859		84,351
Rejlers AB		1,659		22,240
Rottneros AB		26,936		30,333
Rvrc Holding AB		1,799		11,488
Scandi Standard AB		13,938		93,233
Scandic Hotels Group AB (a) (d)		33,911		198,186
Sdiptech AB - Class B (a)		4,249		103,428
Sensys Gatso Group AB (a)		2,792		21,128
SkiStar AB		13,849		208,602
Softronic AB - B Shares		3,875		9,483
Solid Forsakring AB		2,708		17,583
Stendorren Fastigheter AB (a)		1,576		27,062
Stillfront Group AB (a)		27,529		24,467
Storskogen Group AB - Class B		38,305		20,346
Systemair AB		22,572		161,036
Tethys Oil AB		2,076		6,895
TF Bank AB (a)		690		10,773
Troax Group AB		11,680		268,650
Truecaller AB - Class B (a)(d)		13,719		41,920
VBG Group AB - B Shares		2,838		83,022
Viaplay Group AB (a)		44,160		3,914
Vitec Software Group AB - B Shares		5,020		260,571
Volati AB		1,043		12,158

				13,161,872


Switzerland—7.6%
Accelleron Industries AG		12,319		461,002
Adecco Group AG		29,277		1,157,449
Allreal Holding AG		3,829		657,145
ALSO Holding AG		1,870		485,132
APG SGA SA		390		95,564
Arbonia AG (d)		14,726		196,926
Aryzta AG (a)		240,805		436,895
Ascom Holding AG		3,201		29,212
Autoneum Holding AG (a) (d)		1,045		187,251
Avolta AG (a)		21,834		908,454
Baloise Holding AG		8,025		1,257,152
Banque Cantonale de Geneve		750		239,507

BHFTII-99

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Switzerland—(Continued)
Banque Cantonale Vaudoise		4,600	$	534,724
Basilea Pharmaceutica AG (a)		1,225		51,137
Belimo Holding AG		2,620		1,284,439
Bell Food Group AG		640		191,536
Bellevue Group AG (d)		2,930		68,531
Berner Kantonalbank AG		1,195		323,277
BKW AG		3,307		507,430
Bossard Holding AG - Class A		1,729		419,584
Bucher Industries AG		1,798		790,974
Burckhardt Compression Holding AG		714		447,197
Burkhalter Holding AG		555		60,122
Bystronic AG		398		210,440
Calida Holding AG (d)		1,703		55,117
Carlo Gavazzi Holding AG		124		44,686
Cembra Money Bank AG		7,756		648,980
Cicor Technologies Ltd. (a) (d)		644		36,704
Cie Financiere Tradition SA		607		92,545
Clariant AG (a)		57,069		771,213
Coltene Holding AG		1,092		69,721
Comet Holding AG		1,743		607,028
Daetwyler Holding AG (d)		1,318		271,797
DKSH Holding AG		9,849		669,933
dormakaba Holding AG		861		452,811
EDAG Engineering Group AG		3,171		43,449
EFG International AG		23,424		292,417
Emmi AG		591		586,437
Energiedienst Holding AG		3,633		159,306
Feintool International Holding AG (d)		1,764		37,126
Fenix Outdoor International AG		1,091		70,325
Ferrexpo PLC (a)		523		288
Flughafen Zurich AG		5,235		1,187,433
Forbo Holding AG		276		352,560
Fundamenta Real Estate AG		4,539		79,018
Galenica AG		13,170		1,098,087
GAM Holding AG (a)		30,739		8,914
Georg Fischer AG		21,135		1,566,378
Gurit Holding AG - Class BR (a)		1,066		78,432
Helvetia Holding AG		10,528		1,450,979
Hiag Immobilien Holding AG		1,482		130,144
Highlight Communications AG (a)		7,829		20,767
HOCHDORF Holding AG (a) (d)		174		1,428
Huber & Suhner AG		4,607		389,195
Hypothekarbank Lenzburg AG		3		14,038
Implenia AG		4,062		147,176
Ina Invest Holding AG (a)		1,388		26,163
Inficon Holding AG		501		731,608
Interroll Holding AG		210		698,297
Intershop Holding AG		318		228,474
Investis Holding SA		421		45,376
IWG PLC (a)		194,505		472,951
Jungfraubahn Holding AG		970		194,247
Kardex Holding AG		2,082		583,932
Komax Holding AG (d)		1,115		216,062
Kongsberg Automotive ASA (a)		156,504		21,694
Kudelski SA (a)		13,221		23,158
Landis & Gyr Group AG		4,662		357,773
LEM Holding SA		144		272,400
Luzerner Kantonalbank AG (d)		4,993		391,423
Medacta Group SA		1,064		144,399
Medmix AG		5,258		93,402
Meier Tobler Group AG (a)		1,369		51,075
Metall Zug AG - B Shares		62		90,749
Mikron Holding AG		2,145		44,119
Mobilezone Holding AG (d)		12,863		211,784
Mobimo Holding AG		2,004		575,437
Novavest Real Estate AG (a)		468		17,591
OC Oerlikon Corp. AG (d)		53,535		235,733
Orascom Development Holding AG (a) (d)		4,230		22,046
Orell Fuessli AG (d)		331		28,260
Orior AG		1,947		143,558
Phoenix Mecano AG (a)		244		123,375
Plazza AG - Class A		222		75,817
PSP Swiss Property AG		11,769		1,541,967
Resurs Holding AB		27,086		39,256
Rieter Holding AG (d)		686		99,186
Romande Energie Holding SA		2,775		165,544
Schweiter Technologies AG		286		161,032
Schweizerische Nationalbank (a)		5		22,842
Sensirion Holding AG (a) (d)		1,120		82,811
SFS Group AG (d)		5,084		667,987
Siegfried Holding AG		1,138		1,161,457
SIG Group AG		2,682		59,462
SKAN Group AG		131		12,360
St. Galler Kantonalbank AG		791		426,232
Stadler Rail AG (d)		4,535		144,398
Sulzer AG		5,258		639,112
Swiss Prime Site AG		15,133		1,426,957
Swiss Steel Holding AG (a)		161,565		12,850
Swissquote Group Holding SA		3,768		1,057,809
Temenos AG		15,465		1,107,598
TX Group AG		920		151,989
u-blox Holding AG		2,020		194,422
V-ZUG Holding AG (a)		780		51,637
Valiant Holding AG		4,473		524,730
Vaudoise Assurances Holding SA		171		85,136
Vetropack Holding AG		3,634		131,178
Vontobel Holding AG (d)		7,238		438,782
VZ Holding AG		3,926		478,726
Walliser Kantonalbank		1,345		172,250
Warteck Invest AG		53		107,839
Ypsomed Holding AG		692		276,480
Zehnder Group AG (a)		2,819		186,728
Zug Estates Holding AG - B Shares		83		167,503
Zuger Kantonalbank AG		45		399,179

				40,751,854


Taiwan—0.0%
FIT Hon Teng Ltd. (a)		80,000		20,466


Tanzania—0.0%
Helios Towers PLC (a)		110,176		131,949

BHFTII-100

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

United Arab Emirates—0.0%
Network International Holdings PLC (a)		11,307	$	56,115
Shelf Drilling Ltd. (a) (d)		19,770		46,268

				102,383


United Kingdom—12.2%
4imprint Group PLC		7,046		564,639
abrdn PLC (d)		108,666		193,863
Accesso Technology Group PLC (a)		2,402		16,251
Advanced Medical Solutions Group PLC		23,347		57,779
AG Barr PLC		33,154		243,628
AJ Bell PLC		59,750		227,938
Alfa Financial Software Holdings PLC		10,992		23,516
Allfunds Group PLC		2,273		16,437
Alliance Pharma PLC		95,282		47,877
Anglo-Eastern Plantations PLC		5,782		50,773
AO World PLC (a)		30,384		38,678
Ascential PLC (a)		79,762		306,233
Ashmore Group PLC		97,994		241,834
Ashtead Technology Holdings PLC		6,612		63,482
ASOS PLC (a) (d)		1,729		8,367
Auction Technology Group PLC (a)		2,941		22,985
Avon Rubber PLC		8,677		118,498
Babcock International Group PLC		152,440		1,000,112
Bakkavor Group PLC		37,729		51,312
Balfour Beatty PLC		173,040		835,770
Beazley PLC		133,083		1,119,253
Begbies Traynor Group PLC (d)		20,686		27,939
Bellway PLC		28,810		968,647
Bloomsbury Publishing PLC		28,218		187,939
Bodycote PLC		59,365		521,414
boohoo Group PLC (a) (d)		68,276		30,988
Braemar PLC		7,120		23,589
Breedon Group PLC		23,354		113,202
Bridgepoint Group PLC		21,750		71,305
Britvic PLC		74,790		775,237
Brooks Macdonald Group PLC		486		11,084
Bytes Technology Group PLC		49,945		321,824
Capita PLC (a)		344,633		57,417
Capricorn Energy PLC		39,423		87,116
Card Factory PLC (a)		103,756		121,181
Carr’s Group PLC		19,239		27,804
Castings PLC		2,870		11,992
Centaur Media PLC		92,526		46,118
Central Asia Metals PLC		20,359		50,872
Chemring Group PLC		75,168		344,159
Chesnara PLC		50,709		168,428
Clarkson PLC		8,219		415,992
Close Brothers Group PLC		45,801		242,534
CMC Markets PLC		42,124		115,728
Coats Group PLC		319,324		326,704
Computacenter PLC		22,674		771,552
Concentric AB		9,871		176,505
Costain Group PLC		35,950		33,995
Cranswick PLC		15,838		818,950
Crest Nicholson Holdings PLC		83,456		203,915
Currys PLC (a)		250,394		191,702
CVS Group PLC		15,668		192,811
Darktrace PLC (a)		35,570		196,009
De La Rue PLC (a)		29,662		30,583
Deliveroo PLC (a)		42,312		63,180
DFS Furniture PLC		51,390		71,652
Dialight PLC (a) (d)		5,140		11,321
Diploma PLC		18,104		851,698
Direct Line Insurance Group PLC (a)		196,487		484,204
DiscoverIE Group PLC		15,588		148,669
Domino’s Pizza Group PLC		124,310		540,639
dotdigital group PLC		41,626		45,170
Dr Martens PLC		56,127		62,297
Drax Group PLC		117,307		743,171
DS Smith PLC		114,606		573,257
Dunelm Group PLC		27,630		395,334
easyJet PLC		5,538		39,853
Ecora Resources PLC		51,447		49,685
EKF Diagnostics Holdings PLC		38,020		13,244
Elementis PLC (a)		188,304		352,279
Energean PLC		27,001		373,276
EnQuest PLC (a)		515,849		91,762
Epwin Group PLC		14,369		13,820
Essentra PLC		94,236		209,413
FDM Group Holdings PLC		21,321		92,347
Fevertree Drinks PLC		1,132		17,130
Firstgroup PLC		145,351		330,635
FLEX LNG Ltd. (d)		948		23,577
Flowtech Fluidpower PLC		6,703		6,938
Forterra PLC		58,426		126,987
Foxtons Group PLC		74,860		51,669
Frasers Group PLC (a)		31,394		321,645
Frontier Developments PLC (a) (d)		3,312		5,894
Fuller Smith & Turner PLC - Class A		9,279		69,116
Fund Technologies PLC (a)		3,285		50,990
Funding Circle Holdings PLC (a)		10,326		5,666
Future PLC		1,404		10,903
Galliford Try Holdings PLC		39,862		120,670
Games Workshop Group PLC		8,487		1,076,598
Gamma Communications PLC		15,986		276,015
GB Group PLC		18,971		65,226
Gem Diamonds Ltd. (a)		44,142		4,795
Genel Energy PLC (d)		14,530		15,284
Genuit Group PLC		68,299		379,826
Georgia Capital PLC (a)		7,105		118,967
Gooch & Housego PLC		2,212		14,510
Goodwin PLC		121		8,247
Grafton Group PLC		61,455		777,351
Grainger PLC		204,518		664,895
Greggs PLC		29,520		1,072,143
Gulf Keystone Petroleum Ltd. (a) (d)		64,377		92,059
Gym Group PLC (a)		49,004		70,981
H&T Group PLC		1,027		4,822
Halfords Group PLC		72,677		147,231
Harbour Energy PLC		84,724		294,632
Hargreaves Lansdown PLC		52,847		491,586
Harworth Group PLC		10,757		18,787
Hays PLC		457,753		545,678

BHFTII-101

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

United Kingdom—(Continued)
Headlam Group PLC		29,149	$	64,693
Helical PLC		38,476		101,012
Henry Boot PLC		14,477		32,923
Hill & Smith PLC		26,057		644,243
Hilton Food Group PLC		19,243		204,535
Hiscox Ltd.		63,107		988,310
Hollywood Bowl Group PLC		35,798		148,882
Howden Joinery Group PLC		81,080		927,150
Hunting PLC		47,371		197,976
Ibstock PLC		123,730		235,430
IDOX PLC (d)		75,537		59,683
IG Group Holdings PLC		57,306		527,706
IMI PLC		24,114		551,921
Impax Asset Management Group PLC		14,750		86,746
Inchcape PLC		94,730		867,074
Indivior PLC (a)		18,853		402,104
IntegraFin Holdings PLC		51,584		180,813
International Distributions Services PLC (a)		142,451		412,206
International Personal Finance PLC		79,366		109,187
iomart Group PLC		16,833		30,891
IP Group PLC		225,731		135,481
IQE PLC (a) (d)		87,265		23,120
ITV PLC		636,123		594,639
J D Wetherspoon PLC (a)		21,503		200,067
James Fisher & Sons PLC (a)		15,436		50,845
James Halstead PLC		59,490		151,033
JET2 PLC		34,034		619,115
John Wood Group PLC (a)		195,202		326,305
Johnson Matthey PLC		18,290		412,752
Johnson Service Group PLC		61,047		101,217
Jupiter Fund Management PLC		156,485		174,895
Just Group PLC		224,609		297,881
Kainos Group PLC		20,314		247,467
Keller Group PLC		23,073		305,447
Kier Group PLC (a)		94,700		157,479
Kin & Carta PLC (a)		25,591		41,536
Kingfisher PLC		9,751		30,671
Lancashire Holdings Ltd.		72,054		562,417
Learning Technologies Group PLC		73,668		79,730
Liontrust Asset Management PLC		12,072		102,647
LSL Property Services PLC		25,826		86,691
Luceco PLC		31,684		55,617
M&C Saatchi PLC		3,677		8,075
Man Group PLC		374,661		1,266,228
Marks & Spencer Group PLC		395,896		1,326,887
Marshalls PLC		23,296		80,780
Marston’s PLC (a)		211,171		75,425
McBride PLC (a)		63,975		80,520
Me Group International PLC		75,262		158,202
Mears Group PLC		36,497		169,838
Metro Bank Holdings PLC (a) (d)		2,816		1,147
Midwich Group PLC		2,355		12,806
Mitchells & Butlers PLC (a)		84,608		240,919
Mitie Group PLC		406,977		538,825
MJ Gleeson PLC		13,112		79,333
Mobico Group PLC		165,517		145,769
Moneysupermarket.com Group PLC		146,027		405,584
Moonpig Group PLC (a)		5,076		10,865
Morgan Advanced Materials PLC		95,467		343,686
Morgan Sindall Group PLC		14,007		410,784
Mortgage Advice Bureau Holdings Ltd.		6,665		76,764
Motorpoint group PLC (a)		14,323		24,277
MP Evans Group PLC		2,300		23,525
N Brown Group PLC (a) (d)		62,840		12,691
Naked Wines PLC (a)		1,427		1,011
NCC Group PLC		88,729		139,241
Next 15 Group PLC		16,972		198,298
Ninety One PLC		93,523		201,279
Norcros PLC		11,343		26,333
Odfjell Technology Ltd.		4,274		25,561
On the Beach Group PLC (a)		32,313		67,369
OSB Group PLC		95,681		455,455
Oxford Instruments PLC		15,582		418,755
Pagegroup PLC		102,025		577,557
Pan African Resources PLC		368,191		104,969
Paragon Banking Group PLC		63,215		551,309
PayPoint PLC		21,008		128,967
Pennon Group PLC		68,031		556,583
Persimmon PLC		36,818		610,887
Petrofac Ltd. (a) (d)		1,704		590
Pets at Home Group PLC		142,598		483,059
Pharos Energy PLC		50,968		13,510
Phoenix Spree Deutschland Ltd. (a)		665		1,267
Pinewood Technologies Group PLC (a)		345,188		167,299
Playtech PLC (a)		73,270		427,089
Polar Capital Holdings PLC		16,568		95,249
Porvair PLC		8,570		67,201
PPHE Hotel Group Ltd.		3,290		58,759
Premier Foods PLC		206,665		388,571
PZ Cussons PLC		74,104		83,814
QinetiQ Group PLC		161,136		742,608
Quilter PLC		370,926		501,412
Rank Group PLC (a)		54,017		47,199
Rathbones Group PLC		10,507		205,575
Reach PLC		103,289		102,430
Record PLC		12,453		10,039
Redde Northgate PLC		57,053		274,490
Redrow PLC		80,746		678,915
Renew Holdings PLC		9,893		115,380
Renewi PLC (a)		25,541		185,459
Renishaw PLC		898		48,154
Renold PLC (a)		238		113
Ricardo PLC		13,452		77,539
Rightmove PLC		8,484		58,799
RM PLC (a)		43,283		30,011
Robert Walters PLC		16,356		84,015
Rotork PLC		207,102		860,341
RS Group PLC		58,984		540,452
RWS Holdings PLC		12,286		29,158
S&U PLC		1,188		28,115
S4 Capital PLC (a)		28,030		18,653
Sabre Insurance Group PLC		49,439		111,872
Saga PLC (a)		8,514		13,180
Savills PLC		43,996		592,809

BHFTII-102

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

United Kingdom—(Continued)
Secure Trust Bank PLC		458	$	3,815
Senior PLC		144,428		322,625
Serco Group PLC		300,955		721,434
Serica Energy PLC		47,039		112,114
Severfield PLC		100,890		69,783
SIG PLC (a)		255,262		94,079
Smart Metering Systems PLC		21,222		255,000
Smiths News PLC (d)		20,535		12,428
Softcat PLC		30,193		605,110
Spectris PLC		2,509		104,696
Speedy Hire PLC		151,595		48,560
Spire Healthcare Group PLC		62,350		182,575
Spirent Communications PLC		181,575		458,844
SSP Group PLC		185,760		513,890
SThree PLC		41,761		226,361
Studio Retail Group PLC (a) (b) (c)		17,439		0
STV Group PLC		7,194		21,283
Superdry PLC (a) (d)		13,399		4,835
Synthomer PLC (a)		35,511		116,445
Tate & Lyle PLC		97,547		760,084
Taylor Wimpey PLC		16,277		28,210
TBC Bank Group PLC		6,341		257,455
TClarke PLC		15,381		23,976
Telecom Plus PLC		18,238		375,124
THG PLC (a)		29,472		25,739
Topps Tiles PLC		61,961		35,347
TORM PLC - Class A		7,803		266,279
TP ICAP Group PLC		235,823		670,802
Trainline PLC (a)		20,223		94,463
Travis Perkins PLC		50,576		465,448
Trifast PLC		20,432		19,236
TT Electronics PLC		54,423		108,938
Tyman PLC		21,078		76,948
Vanquis Banking Group PLC		52,029		34,629
Verici Dx PLC (a)		760		89
Vertu Motors PLC		46,012		39,218
Vesuvius PLC		68,585		428,403
Victrex PLC		19,606		321,453
Videndum PLC		14,491		52,858
Virgin Money U.K. PLC		239,897		649,167
Vistry Group PLC		71,357		1,107,703
Volex PLC		24,134		87,882
Volution Group PLC		34,155		187,561
Vp PLC (d)		4,147		28,796
Watches of Switzerland Group PLC (a)		47,460		215,136
Watkin Jones PLC		46,386		23,876
WH Smith PLC		30,332		504,014
Wickes Group PLC		76,029		148,830
Wincanton PLC		40,925		309,862
Xaar PLC (a)		18,088		24,199
XPS Pensions Group PLC		15,758		45,953
Young & Co.’s Brewery PLC		1,744		13,210
Young & Co.’s Brewery PLC - Class A		4,640		57,322
Zotefoams PLC		7,268		34,963

				65,069,401


United States—0.8%
ADTRAN Holdings, Inc.		10,268		55,784
Argonaut Gold, Inc. (a)		80,499		23,177
Bausch Health Cos., Inc. (a) (d)		56,435		598,711
Burford Capital Ltd.		39,406		618,245
Diversified Energy Co. PLC		9,570		114,666
Energy Fuels, Inc. (a)(d)		7,296		45,622
Frontage Holdings Corp. (a) (d)		58,000		10,672
MDA Ltd. (a)		16,664		180,966
Ormat Technologies, Inc.		1		37
Primo Water Corp.		2,400		43,704
PureTech Health PLC (a)		49,670		139,773
Reliance Worldwide Corp. Ltd.		176,413		663,213
RHI Magnesita NV		964		42,844
Samsonite International SA (a)		225,900		855,253
Sims Ltd.		43,872		364,844
Sinch AB (a)		59,246		148,310
Varia U.S. Properties AG (d)		1,203		49,222
Viemed Healthcare, Inc. (a)		5,284		49,828

				4,004,871

Total Common Stocks (Cost $491,283,193)				525,722,350


Preferred Stocks—0.4%

Germany—0.4%
Draegerwerk AG & Co. KGaA		3,031		166,436
Einhell Germany AG		82		13,539
FUCHS SE		17,122		847,897
Jungheinrich AG (d)		14,969		553,528
Sixt SE		4,716		345,995
STO SE & Co. KGaA		618		105,452
Villeroy & Boch AG		505		9,943

				2,042,790


Italy—0.0%
Danieli & C Officine Meccaniche SpA (Savings Shares)		4,725		124,606

Total Preferred Stocks (Cost $1,771,229)				2,167,396


Rights—0.0%

Austria—0.0%
Intercell AG (a) (b) (c)		24,163		0


Spain—0.0%
Promotora de Informaciones SA (a)		83,921		407


Sweden—0.0%
Nobia AB (a)		40,224		21,419

Total Rights (Cost $107,863)				21,826

BHFTII-103

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Warrants—0.0%


Security Description	Shares/ Principal Amount*		Value

Australia—0.0%
Arafura Rare Earths Ltd., Expires 06/20/25 (a)		12,974	$	474
Panoramic Resources Ltd., Expires 09/16/24 (a)		39,049		0

				474


Italy—0.0%
Webuild SpA, Expires 08/02/30 (a) (d)		6,346		0

Total Warrants (Cost $0)				474


Short-Term Investment—0.2%

Repurchase Agreement—0.2%
Fixed Income Clearing Corp.
Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $912,909; collateralized by U.S. Treasury Bond at 4.250%, maturing 02/15/54, with a market value of $930,921.		912,656		912,656

Total Short-Term Investments (Cost $912,656)				912,656


Securities Lending Reinvestments (e)—5.7%

Repurchase Agreements—2.4%
Bank of Nova Scotia
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $1,200,545; collateralized by various Common Stock with an aggregate market value of $1,336,586.		1,200,000		1,200,000
Barclays Bank PLC Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $50,023; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $51,167.		50,000		50,000
BofA Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.320%, due on 04/01/24 with a maturity value of $2,414,790; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 4.750%, maturity dates ranging from 06/30/24 - 11/15/43, and an aggregate market value of $2,461,995.		2,413,720		2,413,720
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $6,723,889; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $6,855,339.		6,720,921		6,720,921
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $600,274; collateralized by various Common Stock with an aggregate market value of $669,308.		600,000		600,000
Societe Generale Repurchase Agreement dated 03/29/24 at 5.440%, due on 04/01/24 with a maturity value of $65,029; collateralized by various Common Stock with an aggregate market value of $72,447.		65,000		65,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $2,000,903; collateralized by various Common Stock with an aggregate market value of $2,200,331.		2,000,000		2,000,000

				13,049,641


Mutual Funds—3.3%
Dreyfus Treasury Obligations Cash Management Fund, Institutional Class 5.200% (f)		1,000,000		1,000,000
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (f)		3,000,000		3,000,000
Fidelity Investments Money Market Government Portfolio, Institutional Class 5.250% (f)		2,000,000		2,000,000
HSBC U.S. Government Money Market Fund, Class I 5.240% (f)		5,000,000		5,000,000
STIT-Government & Agency Portfolio, Institutional Class 5.230% (f)		3,000,000		3,000,000
Western Asset Institutional Government Reserves Fund, Institutional Class 5.220% (f)		3,500,000		3,500,000

				17,500,000

Total Securities Lending Reinvestments (Cost $30,549,641)				30,549,641

Total Investments—104.8% (Cost $524,624,582)				559,374,343
Other assets and liabilities (net)—(4.8)%				(25,540,707	)

Net Assets—100.0%			$	533,833,636


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.
(b)		Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent 0.1% of net assets.
(c)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(d)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $68,259,390 and the collateral received consisted of cash in the amount of $30,549,641 and non-cash collateral with a value of $45,713,088. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third party custodian, and cannot be sold or repledged by the Portfolio.
(e)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(f)		The rate shown represents the annualized seven-day yield as of March 31, 2024.

BHFTII-104

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)


Ten Largest Industries as of March 31, 2024 (Unaudited)	% of Net Assets
Machinery		7.0
Banks		5.8
Metals & Mining		5.3
Real Estate Management & Development		4.3
Oil, Gas & Consumable Fuels		4.1
Chemicals		3.7
Capital Markets		3.5
Construction & Engineering		3.3
Electronic Equipment, Instruments & Components		3.2
Food Products		3.1

Glossary of Abbreviations

Other Abbreviations


(ADR)—		American Depositary Receipt

BHFTII-105

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

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 following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Common Stocks
Australia	$	459,663	$	35,514,191	$	344,052	$	36,317,906
Austria		—		7,796,121		0		7,796,121
Belgium		2,183		7,802,695		0		7,804,878
Cambodia		—		111,354		—		111,354
Canada		57,423,229		254,393		1,925		57,679,547
China		542,025		619,381		—		1,161,406
Colombia		169,159		—		—		169,159
Denmark		—		14,284,291		—		14,284,291
Faeroe Islands		—		24,547		—		24,547
Finland		—		10,627,173		—		10,627,173
France		37,153		24,862,424		0		24,899,577
Georgia		—		851,035		—		851,035
Germany		—		30,732,606		—		30,732,606
Ghana		—		163,417		—		163,417
Greece		—		57,672		—		57,672
Greenland		—		13,178		—		13,178
Guernsey, Channel Islands		—		—		0		0
Hong Kong		731,003		8,417,374		10,663		9,159,040
Ireland		—		2,617,483		—		2,617,483
Isle of Man		—		34,712		—		34,712
Israel		190,769		6,343,659		—		6,534,428
Italy		—		23,589,179		0		23,589,179
Japan		—		127,702,273		111,673		127,813,946
Jersey, Channel Islands		—		508,491		—		508,491
Jordan		—		428,849		—		428,849
Liechtenstein		—		382,909		—		382,909
Luxembourg		—		1,482,869		—		1,482,869
Macau		—		122,082		—		122,082
Malta		—		18,426		—		18,426
Mongolia		—		38,317		—		38,317
Netherlands		54,057		10,532,198		0		10,586,255
New Zealand		—		1,763,001		7,742		1,770,743
Norway		—		3,443,697		—		3,443,697
Peru		—		154,146		—		154,146
Philippines		—		6,840		—		6,840
Poland		—		253,093		—		253,093
Portugal		—		2,176,829		—		2,176,829
Singapore		129,771		5,482,947		2		5,612,720
Spain		—		13,050,633		0		13,050,633
Sweden		—		13,161,872		—		13,161,872
Switzerland		—		40,751,854		—		40,751,854

BHFTII-106

Brighthouse Funds Trust II

Brighthouse/Dimensional International Small Company Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy—(Continued)


Description	Level 1		Level 2			Level 3		Total
Taiwan	$	—	$	20,466		$	—	$	20,466
Tanzania		—		131,949			—		131,949
United Arab Emirates		—		102,383			—		102,383
United Kingdom		—		65,069,401			0		65,069,401
United States		942,008		3,062,863			—		4,004,871
Total Common Stocks		60,681,020		464,565,273			476,057		525,722,350
Total Preferred Stocks*		—		2,167,396			—		2,167,396
Rights
Austria		—		—			0		0
Spain		407		—			—		407
Sweden		—		21,419			—		21,419
Total Rights		407		21,419			0		21,826
Warrants
Australia		474		—			—		474
Italy		—		0			—		0
Total Warrants		474		0			—		474
Total Short-Term Investment*		—		912,656			—		912,656
Securities Lending Reinvestments
Repurchase Agreements		—		13,049,641			—		13,049,641
Mutual Funds		17,500,000		—			—		17,500,000
Total Securities Lending Reinvestments		17,500,000		13,049,641			—		30,549,641
Total Investments	$	78,181,901	$	480,716,385		$	476,057	$	559,374,343

Collateral for Securities Loaned (Liability)	$	—	$	(30,549,641	)	$	—	$	(30,549,641	)


*		See Schedule of Investments for additional detailed categorizations.

During the period ended March 31, 2024, transfers into Level 3 in the amount of $445,899 were due to trading halts on the securities’ respective exchanges which resulted in the lack of observable inputs.

BHFTII-107

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—61.7% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—1.0%
Boeing Co. (a)		14,232	$	2,746,633
General Dynamics Corp.		24,163		6,825,806
RTX Corp.		23,679		2,309,413

				11,881,852


Air Freight & Logistics—0.2%
C.H. Robinson Worldwide, Inc.		26,369		2,007,736


Automobile Components—0.1%
Goodyear Tire & Rubber Co. (a)		104,814		1,439,096


Banks—1.8%
JPMorgan Chase & Co.		53,818		10,779,745
Wells Fargo & Co.		189,728		10,996,635

				21,776,380


Beverages—1.2%
Constellation Brands, Inc. - Class A		21,270		5,780,335
Monster Beverage Corp. (a)		153,482		9,098,413

				14,878,748


Biotechnology—1.4%
AbbVie, Inc.		40,507		7,376,325
Alnylam Pharmaceuticals, Inc. (a)		2,201		328,939
Amgen, Inc.		1,990		565,797
Apellis Pharmaceuticals, Inc. (a)		5,028		295,546
Ascendis Pharma AS (ADR) (a)		2,169		327,888
Biogen, Inc. (a)		3,028		652,927
Bridgebio Pharma, Inc. (a) (b)		4,278		132,276
Celldex Therapeutics, Inc. (a) (b)		7,844		329,213
Crinetics Pharmaceuticals, Inc. (a)		5,309		248,514
Immunocore Holdings PLC (ADR) (a)		5,508		358,020
Moderna, Inc. (a) (b)		3,262		347,599
Regeneron Pharmaceuticals, Inc. (a)		2,496		2,402,375
Revolution Medicines, Inc. (a)		10,651		343,282
Rocket Pharmaceuticals, Inc. (a)		7,637		205,741
Sarepta Therapeutics, Inc. (a)		2,078		269,018
Syndax Pharmaceuticals, Inc. (a)		8,108		192,970
Ultragenyx Pharmaceutical, Inc. (a)		4,801		224,159
United Therapeutics Corp. (a)		856		196,640
Vaxcyte, Inc. (a)		3,921		267,843
Vertex Pharmaceuticals, Inc. (a)		5,589		2,336,258

				17,401,330


Broadline Retail—3.5%
Amazon.com, Inc. (a)		234,312		42,265,198


Building Products—0.5%
AZEK Co., Inc. (a)		33,045		1,659,520
Builders FirstSource, Inc. (a)		17,814		3,715,110
Johnson Controls International PLC		4,205		274,671
Trane Technologies PLC		2,957		887,691

				6,536,992


Capital Markets—1.7%
ARES Management Corp. - Class A		52,563		6,989,828
KKR & Co., Inc.		40,149		4,038,186
Northern Trust Corp.		50,689		4,507,266
S&P Global, Inc.		11,655		4,958,620

				20,493,900


Chemicals—1.5%
Arcadium Lithium PLC (a) (b)		76,058		327,810
Cabot Corp.		35,126		3,238,617
Celanese Corp.		14,828		2,548,340
FMC Corp.		30,226		1,925,396
Ingevity Corp. (a)		16,030		764,631
Linde PLC		13,880		6,444,762
PPG Industries, Inc.		19,214		2,784,109

				18,033,665


Commercial Services & Supplies—0.5%
Clean Harbors, Inc. (a)		19,324		3,890,115
Waste Connections, Inc.		12,822		2,205,512

				6,095,627


Construction & Engineering—0.0%
Fluor Corp. (a) (b)		12,447		526,259


Consumer Finance—0.5%
American Express Co.		24,969		5,685,192


Consumer Staples Distribution & Retail—0.6%
Performance Food Group Co. (a)		101,954		7,609,847


Containers & Packaging—0.1%
Ball Corp. (b)		14,216		957,590


Electric Utilities—1.2%
Constellation Energy Corp.		7,749		1,432,403
Edison International		48,203		3,409,398
Exelon Corp.		57,427		2,157,532
NextEra Energy, Inc.		45,248		2,891,800
PG&E Corp.		267,584		4,484,708

				14,375,841


Energy Equipment & Services—0.3%
Schlumberger NV		54,250		2,973,442


Entertainment—0.7%
Netflix, Inc. (a)		9,574		5,814,577
Spotify Technology SA (a)		11,491		3,032,475

				8,847,052


Financial Services—2.9%
Berkshire Hathaway, Inc. - Class B (a)		27,505		11,566,403
Block, Inc. (a) (b)		66,503		5,624,824
Corpay, Inc. (a)		8,315		2,565,510
Global Payments, Inc.		25,728		3,438,804
PayPal Holdings, Inc. (a)		26,458		1,772,421

BHFTII-108

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Financial Services—(Continued)
Visa, Inc. - Class A (b)		17,055	$	4,759,709
WEX, Inc. (a) (b)		20,773		4,934,211

				34,661,882


Gas Utilities—0.2%
Atmos Energy Corp. (b)		22,245		2,644,263


Ground Transportation—0.8%
Knight-Swift Transportation Holdings, Inc.		36,853		2,027,652
Ryder System, Inc.		15,315		1,840,710
Uber Technologies, Inc. (a)		81,874		6,303,479

				10,171,841


Health Care Equipment & Supplies—1.5%
Abbott Laboratories		8,766		996,344
Boston Scientific Corp. (a)		73,049		5,003,126
DexCom, Inc. (a)		21,746		3,016,170
Edwards Lifesciences Corp. (a)		35,900		3,430,604
Intuitive Surgical, Inc. (a)		6,734		2,687,472
Stryker Corp.		8,617		3,083,766

				18,217,482


Health Care Providers & Services—2.1%
agilon health, Inc. (a) (b)		272,343		1,661,292
Cencora, Inc. (b)		21,510		5,226,715
Centene Corp. (a)		36,672		2,878,019
Elevance Health, Inc.		7,626		3,954,386
HCA Healthcare, Inc.		12,734		4,247,171
Humana, Inc.		3,369		1,168,100
Molina Healthcare, Inc. (a)		4,083		1,677,419
UnitedHealth Group, Inc.		8,845		4,375,621

				25,188,723


Health Care REITs—0.3%
Welltower, Inc.		36,343		3,395,890


Hotel & Resort REITs—0.2%
Ryman Hospitality Properties, Inc.		23,245		2,687,354


Hotels, Restaurants & Leisure—1.6%
Chipotle Mexican Grill, Inc. (a)		3,198		9,295,850
DoorDash, Inc. - Class A (a)		42,329		5,829,550
Hyatt Hotels Corp. - Class A		24,021		3,834,232

				18,959,632


Household Durables—0.6%
Lennar Corp. - Class A		24,393		4,195,108
Meritage Homes Corp.		3,283		576,035
Skyline Champion Corp. (a)		31,562		2,683,086

				7,454,229


Insurance—2.2%
American International Group, Inc.		61,807		4,831,453
Arch Capital Group Ltd. (a)		39,218		3,625,312

Insurance—(Continued)
Assured Guaranty Ltd.		22,119		1,929,883
Everest Group Ltd.		14,131		5,617,072
Marsh & McLennan Cos., Inc.		8,898		1,832,810
Progressive Corp.		21,040		4,351,493
SiriusPoint Ltd. (a) (b)		149,267		1,897,184
Trupanion, Inc. (a) (b)		67,839		1,873,035

				25,958,242


Interactive Media & Services—3.8%
Alphabet, Inc. - Class A (a)		225,220		33,992,455
Meta Platforms, Inc. - Class A		23,444		11,383,937

				45,376,392


IT Services—0.3%
Squarespace, Inc. - Class A (a)		86,360		3,146,958


Life Sciences Tools & Services—1.1%
Agilent Technologies, Inc.		19,436		2,828,133
Danaher Corp.		23,607		5,895,140
ICON PLC (a)		8,514		2,860,278
Illumina, Inc. (a)		10,503		1,442,272
Thermo Fisher Scientific, Inc.		1,176		683,503

				13,709,326


Machinery—0.8%
Atmus Filtration Technologies, Inc. (a)		25,239		813,958
Flowserve Corp.		21,762		994,088
Fortive Corp.		39,505		3,398,220
Helios Technologies, Inc.		18,545		828,776
Ingersoll Rand, Inc.		13,030		1,237,199
Middleby Corp. (a)		18,008		2,895,506

				10,167,747


Media—0.4%
New York Times Co. - Class A		36,383		1,572,473
Omnicom Group, Inc.		30,105		2,912,960

				4,485,433


Oil, Gas & Consumable Fuels—2.7%
EQT Corp.		36,620		1,357,503
Exxon Mobil Corp.		132,666		15,421,096
Marathon Petroleum Corp.		23,364		4,707,846
Shell PLC (ADR)		118,580		7,949,603
Targa Resources Corp.		22,735		2,546,093

				31,982,141


Passenger Airlines—0.3%
Delta Air Lines, Inc.		86,013		4,117,442


Personal Care Products—0.5%
Haleon PLC (ADR) (b)		660,578		5,608,307


Pharmaceuticals—2.6%
AstraZeneca PLC (ADR)		52,706		3,570,832

BHFTII-109

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Pharmaceuticals—(Continued)
Eli Lilly & Co.		16,871	$	13,124,963
GSK PLC (ADR)		45,159		1,935,966
Longboard Pharmaceuticals, Inc. (a) (b)		18,900		408,240
Merck & Co., Inc.		68,064		8,981,045
Novartis AG (ADR)		13,366		1,292,893
Structure Therapeutics, Inc. (ADR) (a)		4,984		213,614
Zoetis, Inc.		13,528		2,289,073

				31,816,626


Professional Services—0.5%
Dayforce, Inc. (a) (b)		39,600		2,621,916
Science Applications International Corp.		26,448		3,448,555

				6,070,471


Real Estate Management & Development—0.1%
CoStar Group, Inc. (a)		12,128		1,171,565


Retail REITs—0.2%
Simon Property Group, Inc.		17,230		2,696,323


Semiconductors & Semiconductor Equipment—5.4%
Advanced Micro Devices, Inc. (a)		73,143		13,201,580
First Solar, Inc. (a) (b)		7,019		1,184,807
KLA Corp.		7,859		5,490,062
Marvell Technology, Inc.		46,398		3,288,690
Micron Technology, Inc.		65,800		7,757,162
NVIDIA Corp.		29,202		26,385,759
Texas Instruments, Inc.		43,014		7,493,469

				64,801,529


Software—9.0%
Adobe, Inc. (a)		26,504		13,373,918
Atlassian Corp. - Class A (a)		22,327		4,356,221
HubSpot, Inc. (a)		8,796		5,511,222
Intuit, Inc.		16,106		10,468,900
Microsoft Corp.		141,348		59,467,931
ServiceNow, Inc. (a)		12,745		9,716,788
Synopsys, Inc. (a)		9,789		5,594,413

				108,489,393


Specialized REITs—0.2%
Equinix, Inc.		3,533		2,915,891


Specialty Retail—1.3%
AutoZone, Inc. (a)		1,748		5,509,084
TJX Cos., Inc.		97,752		9,914,008

				15,423,092


Technology Hardware, Storage & Peripherals—2.0%
Apple, Inc.		137,727		23,617,426


Tobacco—0.7%
Philip Morris International, Inc.		93,038		8,524,142


Trading Companies & Distributors—0.1%
AerCap Holdings NV (a)		16,640		1,446,182


Wireless Telecommunication Services—0.5%
T-Mobile U.S., Inc. (b)		40,250		6,569,605

Total Common Stocks (Cost $573,952,121)				745,261,276


U.S. Treasury & Government Agencies—26.1%

Agency Sponsored Mortgage - Backed—20.4%
Federal Home Loan Mortgage Corp.
2.000%, 05/01/36		353,970		315,526
2.000%, 06/01/36		122,968		109,611
2.000%, 12/01/40		70,939		59,986
2.000%, 05/01/41		465,212		392,511
2.000%, 12/01/41		499,693		419,448
2.000%, 09/01/50		217,996		174,984
2.000%, 10/01/50		419,536		334,497
2.000%, 02/01/51		635,704		509,752
2.000%, 03/01/51		2,019,563		1,608,690
2.000%, 04/01/51		730,214		580,823
2.000%, 05/01/51		398,003		320,976
2.000%, 08/01/51		166,118		132,389
2.000%, 11/01/51		167,217		133,937
2.000%, 04/01/52		655,341		526,171
2.500%, 05/01/50		218,442		183,592
2.500%, 06/01/50		274,738		229,839
2.500%, 07/01/50		1,563,639		1,305,881
2.500%, 09/01/50		427,728		358,091
2.500%, 11/01/50		480,620		400,627
2.500%, 02/01/51		146,756		123,645
2.500%, 03/01/51		368,173		306,689
2.500%, 05/01/51		182,803		152,166
2.500%, 07/01/51		188,704		157,482
2.500%, 08/01/51		151,112		125,723
2.500%, 10/01/51		284,273		236,660
2.500%, 04/01/52		910,378		755,062
3.000%, 07/01/28		133,843		128,814
3.000%, 08/01/29		81,025		77,699
3.000%, 10/01/32		179,992		170,011
3.000%, 04/01/33		184,074		172,570
3.000%, 11/01/36		357,779		329,329
3.000%, 01/01/37		239,232		220,138
3.000%, 12/01/44		4,634		4,124
3.000%, 08/01/46		407,374		359,095
3.000%, 10/01/46		415,005		365,557
3.000%, 11/01/46		924,557		815,334
3.000%, 12/01/46		268,984		237,294
3.000%, 01/01/47		255,773		225,143
3.000%, 07/01/50		186,802		162,346
3.000%, 08/01/51		71,624		62,233
3.000%, 05/01/52		276,454		240,467
3.500%, 08/01/34		194,674		184,872
3.500%, 08/01/42		49,802		46,080

BHFTII-110

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal Home Loan Mortgage Corp.
3.500%, 11/01/42		64,963	$	59,847
3.500%, 06/01/46		59,190		54,037
3.500%, 10/01/47		249,400		227,679
3.500%, 12/01/47		97,354		88,763
3.500%, 03/01/48		234,028		214,256
3.500%, 12/01/48		152,946		139,449
4.000%, 05/01/42		211,574		200,719
4.000%, 08/01/42		63,214		59,970
4.000%, 09/01/42		93,467		88,669
4.000%, 07/01/44		4,146		3,976
4.000%, 02/01/46		66,789		63,354
4.000%, 04/01/47		34,675		32,853
4.000%, 09/01/48		30,859		29,181
4.000%, 04/01/49		630,192		591,956
4.000%, 05/01/49		125,448		118,832
4.000%, 07/01/49		474,051		447,234
4.500%, 09/01/43		35,100		34,237
4.500%, 11/01/43		307,423		300,352
5.000%, 05/01/39		2,573		2,568
5.000%, 06/01/41		185,745		185,356
5.000%, 09/01/52		4,986,892		4,869,544
5.000%, 11/01/52		321,467		313,956
5.000%, 12/01/52		346,511		338,303
5.000%, 01/01/53		3,327,456		3,248,397
5.000%, 04/01/53		272,761		268,114
5.500%, 07/01/33		36,171		36,893
5.500%, 04/01/39		16,499		16,863
5.500%, 06/01/41		60,131		61,457
5.500%, 02/01/53		541,194		540,665
6.000%, 12/01/52		347,801		354,288
6.000%, 03/01/53		185,421		189,773
6.400%, 1Y RFUCCT + 1.900%, 02/01/41 (c)		3,836		3,838
6.500%, 11/01/53		392,739		404,013
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates 0.370%, 12/25/33 (c) (d)		1,466,926		46,717
0.595%, 03/25/27 (c) (d)		3,945,092		57,975
0.630%, 10/25/26 (c) (d)		1,116,773		13,412
0.744%, 06/25/27 (c) (d)		2,359,494		45,511
0.878%, 11/25/30 (c) (d)		955,504		43,217
1.021%, 10/25/30 (c) (d)		1,645,356		84,128
1.115%, 06/25/30 (c) (d)		3,028,674		168,254
1.123%, 01/25/30 (c) (d)		2,463,308		126,035
1.433%, 05/25/30 (c) (d)		2,348,679		164,541
1.570%, 05/25/30 (c) (d)		1,478,048		111,944
5.355%, 01/25/29 (c)		568,000		583,244
Federal Home Loan Mortgage Corp. REMICS
Zero Coupon, 11/15/36 (e)		8,345		6,743
1.000%, 02/25/51		513,846		430,095
1.750%, 10/15/42		131,592		111,276
2.000%, 07/25/50		139,272		117,389
2.500%, 05/15/28 (d)		37,026		1,277
2.500%, 06/25/50 (d)		723,766		103,627
2.500%, 03/25/52		455,062		398,810
3.000%, 03/15/28 (d)		73,116		2,847

Agency Sponsored Mortgage - Backed—(Continued)
Federal Home Loan Mortgage Corp. REMICS
3.000%, 05/15/32 (d)		25,528		429
3.000%, 03/15/33 (d)		59,036		4,742
3.000%, 03/25/40		500,000		424,723
3.000%, 05/15/46		235,336		214,209
3.000%, 09/25/51 (d)		690,371		109,822
3.250%, 11/15/41		79,563		72,596
3.500%, 09/15/26 (d)		12,891		347
3.500%, 03/15/27 (d)		10,896		212
3.500%, 03/15/41 (d)		39,772		1,106
3.500%, 10/15/45		100,649		89,813
3.500%, 12/15/46		260,064		236,803
4.000%, 07/15/27 (d)		29,057		517
4.000%, 03/15/28 (d)		24,809		578
4.000%, 06/15/28 (d)		15,151		402
4.000%, 07/15/30 (d)		60,665		3,933
4.000%, 05/25/40 (d)		292,453		43,235
4.000%, 09/15/41		313,952		300,444
4.000%, 03/25/45 (d)		589,007		103,728
4.750%, 07/15/39		178,018		176,782
5.000%, 09/15/33 (d)		76,646		11,540
5.000%, 02/15/48 (d)		112,859		23,830
5.500%, 08/15/33		19,195		19,449
5.500%, 07/15/36		43,082		43,825
5.500%, 06/15/46		61,927		63,000
6.500%, 07/15/36		48,787		50,108
6.500%, 04/15/39 (d)		263,315		48,454
Federal Home Loan Mortgage Corp. STACR REMICS Trust
8.220%, SOFR30A + 2.900%, 04/25/42 (144A) (c)		359,000		371,136
8.570%, SOFR30A + 3.250%, 04/25/43 (144A) (c)		325,000		340,654
8.670%, SOFR30A + 3.350%, 05/25/42 (144A) (c)		495,000		517,100
8.670%, SOFR30A + 3.350%, 06/25/43 (144A) (c)		1,105,000		1,168,922
8.720%, SOFR30A + 3.400%, 10/25/41 (144A) (c)		450,000		465,609
8.820%, SOFR30A + 3.500%, 03/25/42 (144A) (c)		115,000		119,888
8.820%, SOFR30A + 3.500%, 05/25/43 (144A) (c)		945,000		997,092
8.870%, SOFR30A + 3.550%, 08/25/42 (144A) (c)		155,000		162,593
8.970%, SOFR30A + 3.650%, 11/25/41 (144A) (c)		426,000		443,553
9.020%, SOFR30A + 3.700%, 09/25/42 (144A) (c)		425,000		450,474
9.320%, SOFR30A + 4.000%, 07/25/42 (144A) (c)		380,000		403,961
9.820%, SOFR30A + 4.500%, 06/25/42 (144A) (c)		600,000		648,815
Federal Home Loan Mortgage Corp. STRIPS 1.500%, 05/15/37 (d)		2,246,150		127,527
2.000%, 06/15/52 (d)		949,316		119,783
2.500%, 03/15/52 (d)		730,628		101,290
Federal National Mortgage Association
1.500%, 09/01/51		1,929,462		1,454,733
2.000%, 05/01/36		401,117		357,548
2.000%, 06/01/36		571,344		509,995
2.000%, 08/01/36		458,709		408,879
2.000%, 09/01/36		271,252		241,784
2.000%, 12/01/36		212,401		189,323
2.000%, 09/01/40		277,103		234,885
2.000%, 12/01/40		1,017,252		859,415
2.000%, 04/01/41		305,659		257,948
2.000%, 05/01/41		97,756		82,496
2.000%, 10/01/41		371,089		311,835

BHFTII-111

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
2.000%, 02/01/42		234,458	$	198,152
2.000%, 08/01/50		214,112		170,793
2.000%, 12/01/50		585,239		466,420
2.000%, 01/01/51		329,942		269,515
2.000%, 02/01/51		1,956,740		1,560,097
2.000%, 03/01/51		3,252,283		2,586,934
2.000%, 04/01/51		3,480,393		2,765,822
2.000%, 05/01/51		1,209,592		962,147
2.000%, 07/01/51		540,141		431,719
2.250%, 04/01/33		200,057		165,164
2.500%, 06/01/40		637,841		557,086
2.500%, 04/01/50		241,379		201,397
2.500%, 06/01/50		270,400		225,612
2.500%, 07/01/50		46,702		38,927
2.500%, 09/01/50		430,036		358,450
2.500%, 10/01/50		724,439		609,614
2.500%, 01/01/51		310,339		260,820
2.500%, 05/01/51		5,179,883		4,326,195
2.500%, 06/01/51		610,249		506,890
2.500%, 07/01/51		359,182		299,456
2.500%, 08/01/51		192,968		162,975
2.500%, 09/01/51		230,298		191,634
2.500%, 10/01/51		1,658,847		1,379,758
2.500%, 11/01/51		3,311,285		2,780,891
2.500%, 12/01/51		412,577		345,030
2.500%, 01/01/52		407,368		341,854
2.500%, 03/01/52		610,423		507,601
2.500%, 04/01/52		414,299		344,739
2.500%, 01/01/57		531,545		439,415
3.000%, 07/01/28		280,754		270,231
3.000%, 02/01/31		45,154		42,977
3.000%, 08/01/33		126,735		119,749
3.000%, 03/01/37		280,935		258,113
3.000%, 02/01/43		317,070		283,244
3.000%, 03/01/43		401,800		358,809
3.000%, 04/01/43		390,374		348,633
3.000%, 05/01/43		1,011,818		903,341
3.000%, 06/01/43		565,501		503,798
3.000%, 12/01/49		44,125		38,466
3.000%, 02/01/50		186,720		163,940
3.000%, 08/01/50		662,905		577,766
3.000%, 10/01/50		272,019		236,366
3.000%, 12/01/50		371,594		323,005
3.000%, 04/01/51		140,506		122,091
3.000%, 05/01/51		349,556		307,394
3.000%, 06/01/51		75,132		64,935
3.000%, 07/01/51		93,684		81,122
3.000%, 08/01/51		178,896		155,450
3.000%, 10/01/51		213,460		184,666
3.000%, 11/01/51		937,303		810,385
3.000%, 12/01/51		516,499		447,998
3.000%, 01/01/52		243,806		211,326
3.000%, 04/01/52		245,477		213,360
3.000%, 05/01/52		357,869		310,951
3.500%, 03/01/43		13,548		12,468

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
3.500%, 05/01/43		31,149		28,595
3.500%, 07/01/43		72,626		66,728
3.500%, 08/01/43		635,402		587,074
3.500%, 10/01/44		118,108		108,157
3.500%, 02/01/45		123,877		113,181
3.500%, 01/01/46		138,650		126,445
3.500%, 03/01/46		104,528		95,503
3.500%, 09/01/46		194,963		177,920
3.500%, 10/01/46		85,224		77,710
3.500%, 11/01/46		88,881		81,350
3.500%, 12/01/46		507,674		467,032
3.500%, 05/01/47		176,668		161,094
3.500%, 09/01/47		379,304		346,081
3.500%, 12/01/47		51,899		47,804
3.500%, 01/01/48		216,634		197,529
3.500%, 02/01/48		947,216		867,396
3.500%, 07/01/48		275,268		251,001
3.500%, 11/01/48		57,709		52,620
3.500%, 04/01/52		593,596		537,573
3.500%, 09/01/57		923,811		819,899
3.500%, 05/01/58		533,626		473,595
3.520%, 11/01/32		380,000		348,066
4.000%, 04/01/26		3,160		3,103
4.000%, 02/01/29		53,421		52,846
4.000%, 10/01/40		259,572		245,950
4.000%, 11/01/40		97,374		92,266
4.000%, 12/01/40		71,027		67,298
4.000%, 02/01/41		34,563		32,749
4.000%, 03/01/41		96,225		91,174
4.000%, 06/01/41		297,001		285,366
4.000%, 08/01/42		50,949		48,273
4.000%, 09/01/42		90,709		85,945
4.000%, 03/01/45		10,670		10,108
4.000%, 07/01/45		78,623		74,498
4.000%, 03/01/46		71,615		67,851
4.000%, 05/01/46		20,049		18,979
4.000%, 06/01/46		92,969		87,985
4.000%, 04/01/47		106,863		101,257
4.000%, 10/01/47		379,096		358,626
4.000%, 06/01/48		736,045		696,292
4.000%, 09/01/48		126,709		119,225
4.000%, 01/01/49		429,395		405,261
4.000%, 04/01/49		841,323		789,376
4.000%, 08/01/49		32,033		30,351
4.000%, 04/01/50		572,044		537,549
4.000%, 08/01/51		93,271		88,369
4.000%, 06/01/52		360,531		335,083
4.030%, 06/01/28		290,823		282,310
4.190%, 04/01/28		375,000		366,861
4.370%, 05/01/28		142,918		141,242
4.410%, 04/01/30		290,000		284,609
4.460%, 05/01/28		333,325		329,194
4.500%, 06/01/24		332		331
4.500%, 02/01/25		786		779
4.500%, 04/01/25		336		333

BHFTII-112

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
4.500%, 07/01/25		741	$	735
4.500%, 06/01/26		29,821		29,573
4.500%, 12/01/37		260,783		258,807
4.500%, 10/01/40		197,693		193,882
4.500%, 09/01/41		21,935		21,512
4.500%, 10/01/41		96,671		94,808
4.500%, 08/01/42		31,706		31,095
4.500%, 09/01/43		438,482		427,210
4.500%, 10/01/43		79,778		77,495
4.500%, 12/01/43		59,696		58,249
4.500%, 01/01/44		150,798		147,086
4.500%, 04/01/49		124,376		120,308
4.500%, 01/01/51		567,311		550,045
4.750%, 04/01/28		95,000		94,693
5.000%, 07/01/41		15,948		15,895
5.000%, 08/01/41		7,271		7,256
5.000%, 09/01/52		4,626,395		4,517,558
5.000%, 10/01/52		2,179,793		2,129,853
5.000%, 11/01/52		1,390,845		1,358,084
5.000%, 04/01/53		1,068,603		1,042,675
5.065%, 12/01/28		490,000		496,504
5.078%, 1Y RFUCCT + 1.775%, 06/01/41 (c)		18,492		18,585
5.500%, 08/01/28		11,662		11,807
5.500%, 04/01/33		15,167		15,482
5.500%, 08/01/37		88,788		90,631
5.500%, 04/01/41		7,329		7,482
5.500%, 10/01/52		346,206		345,102
5.500%, 11/01/52		632,294		630,899
5.500%, 12/01/52		1,113,959		1,111,554
5.500%, 06/01/53		570,332		568,206
5.500%, 11/01/53		295,028		293,541
5.500%, 02/01/54		1,196,373		1,190,344
5.825%, 1Y RFUCCT + 1.821%, 09/01/41 (c)		21,159		21,773
6.000%, 03/01/28		310		316
6.000%, 02/01/34		61,025		62,654
6.000%, 08/01/34		32,032		33,090
6.000%, 04/01/35		268,475		276,463
6.000%, 02/01/38		17,214		17,834
6.000%, 03/01/38		8,188		8,482
6.000%, 05/01/38		22,082		22,878
6.000%, 10/01/38		6,157		6,361
6.000%, 12/01/38		8,927		9,249
6.000%, 05/01/53		369,042		377,695
6.005%, 1Y RFUCCT + 1.755%, 12/01/40 (c)		1,131		1,132
6.250%, 1Y RFUCCT + 1.750%, 03/01/41 (c)		3,690		3,695
6.500%, 05/01/40		154,094		159,914
6.500%, 11/01/53		683,281		702,895
7.000%, 09/01/53		1,311,699		1,352,384
Federal National Mortgage Association Connecticut Avenue Securities
7.120%, SOFR30A + 1.800%, 02/25/44 (144A) (c)		190,000		190,653
7.585%, SOFR30A + 2.264%, 11/25/39 (144A) (c)		76,283		76,844
7.820%, SOFR30A + 2.500%, 02/25/44 (144A) (c)		160,000		161,000
7.870%, SOFR30A + 2.550%, 07/25/42 (144A) (c)		141,795		145,540
8.020%, SOFR30A + 2.700%, 07/25/43 (144A) (c)		595,000		615,739

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association Connecticut Avenue Securities
8.420%, SOFR30A + 3.100%, 10/25/41 (144A) (c)		174,400		179,408
8.421%, SOFR30A + 3.100%, 06/25/43 (144A) (c)		310,000		325,534
8.470%, SOFR30A + 3.150%, 12/25/41 (144A) (c)		405,000		416,075
8.985%, SOFR30A + 3.664%, 07/25/29 (c)		131,546		136,315
9.785%, SOFR30A + 4.464%, 05/25/29 (c)		226,600		238,442
9.820%, SOFR30A + 4.500%, 01/25/42 (144A) (c)		860,000		903,836
Federal National Mortgage Association Interest STRIPS 2.000%, 09/25/39		126,873		109,578
2.000%, 03/25/52 (d)		885,711		117,172
2.500%, 06/25/52 (d)		773,072		117,990
2.500%, 09/25/52 (d)		801,456		124,637
4.000%, 05/25/27 (d)		25,736		606
Federal National Mortgage Association REMICS
Zero Coupon, 03/25/36 (e)		9,135		7,803
Zero Coupon, 06/25/41 (e)		82,066		61,378
1.477%, 05/25/46 (c) (d)		188,516		7,840
1.700%, 04/25/55 (c) (d)		201,821		7,285
1.750%, 12/25/42		215,778		188,355
2.007%, 06/25/55 (c) (d)		144,233		5,770
2.029%, 08/25/44 (c) (d)		143,787		6,466
2.500%, 06/25/28 (d)		31,578		1,069
2.500%, 02/25/51 (d)		740,794		117,235
3.000%, 02/25/27 (d)		17,624		138
3.000%, 09/25/27 (d)		25,179		791
3.000%, 01/25/28 (d)		140,070		4,191
3.000%, 08/25/49		267,941		238,178
3.500%, 05/25/27 (d)		64,839		2,077
3.500%, 10/25/27 (d)		43,891		1,675
3.500%, 05/25/30 (d)		67,527		3,962
3.500%, 08/25/30 (d)		18,848		878
3.500%, 02/25/31 (d)		20,654		475
3.500%, 03/25/34 (d)		724,689		32,995
3.500%, 09/25/35 (d)		59,912		5,503
3.500%, 11/25/39 (d)		436,220		37,811
3.500%, 01/25/42		416,000		375,713
3.500%, 04/25/46		173,439		140,849
3.500%, 10/25/46 (d)		69,842		12,621
3.500%, 12/25/58		523,251		465,421
4.000%, 03/25/42 (d)		35,307		4,123
4.000%, 11/25/42 (d)		20,894		1,973
4.000%, 02/25/50 (d)		1,153,743		237,299
4.500%, 07/25/27 (d)		5,240		56
5.000%, 12/25/43 (d)		271,506		52,581
5.000%, 06/25/48 (d)		300,957		47,884
5.500%, 04/25/35		158,370		161,457
5.500%, 04/25/37		43,575		44,371
5.500%, 11/25/40 (d)		276,945		33,946
5.500%, 09/25/44 (d)		197,364		37,233
5.500%, 06/25/48 (d)		218,245		40,338
5.540%, 05/25/42 (c) (d)		4,889		353
6.000%, 01/25/42 (d)		150,385		11,659
Federal National Mortgage Association-ACES 0.300%, 01/25/30 (c) (d)		1,774,085		19,714
1.162%, 06/25/34 (c) (d)		3,726,748		195,012
1.457%, 05/25/29 (c) (d)		1,818,108		80,464

BHFTII-113

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association 2.000%, 10/20/50		646,795	$	530,357
2.000%, 12/20/50		1,074,540		881,211
2.500%, 11/20/49		492,104		421,320
2.500%, 03/20/51		389,922		332,596
2.500%, 09/20/51		523,056		445,771
2.500%, 10/20/51		1,745,296		1,486,692
3.000%, 12/15/44		17,538		15,582
3.000%, 04/15/45		166,595		148,029
3.000%, 07/15/45		7,060		6,273
3.000%, 04/20/51		1,838,584		1,626,058
3.000%, 08/20/51		413,576		364,666
3.000%, 09/20/51		670,595		591,950
3.000%, 12/20/51		1,699,664		1,499,459
3.000%, 07/20/52		417,951		368,488
3.500%, 03/20/44		264,620		245,437
3.500%, 06/20/46		302,541		279,512
3.500%, 07/20/46		72,035		66,548
3.500%, 10/20/46		76,802		70,727
3.500%, 02/20/47		349,495		322,505
3.500%, 08/20/47		62,657		57,774
3.500%, 11/20/47		70,819		65,160
3.500%, 03/20/48		90,750		83,477
3.500%, 02/20/49		270,753		249,178
3.500%, 07/20/49		259,714		238,855
3.500%, 01/20/51		73,445		67,431
3.500%, 04/20/52		208,942		190,078
3.500%, 06/20/52		607,774		552,900
3.500%, 12/20/52		3,978,399		3,619,218
3.500%, 01/20/53		928,310		844,498
3.875%, 08/15/42		199,224		189,498
4.000%, 09/15/42		265,905		254,599
4.000%, 08/20/45		261,664		250,367
4.000%, 11/20/47		95,122		89,207
4.000%, 03/20/48		218,518		205,665
4.000%, 07/20/48		700,765		660,482
4.500%, 04/15/41		175,899		172,733
4.500%, 02/15/42		353,804		347,113
4.500%, 01/20/46		33,591		33,039
4.500%, 05/20/52		56,104		53,980
4.500%, 08/20/52		251,345		241,673
4.500%, 09/20/52		230,627		221,704
4.500%, 10/20/52		1,022,457		982,848
5.000%, 12/15/38		14,120		14,275
5.000%, 04/15/39		270,587		273,556
5.000%, 07/15/39		18,139		18,316
5.000%, 10/20/39		5,929		5,967
5.000%, 05/20/40		227,781		229,585
5.000%, 06/20/40		180,399		181,828
5.000%, 07/20/40		70,825		71,385
5.000%, 11/20/49		259,922		258,154
5.500%, 12/15/40		148,403		152,086
Government National Mortgage Association REMICS 0.641%, 02/16/53 (c) (d)	740,558		11,664
2.500%, 12/16/39		85,792		78,442
2.500%, 07/20/41		183,617		161,132

Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association REMICS
2.500%, 10/20/49 (d)		659,052		571,205
3.000%, 09/20/28 (d)		29,284		935
3.000%, 05/20/35 (d)		500,245		27,719
3.000%, 02/16/43 (d)		53,575		7,469
3.000%, 02/20/52		368,254		330,957
3.500%, 02/16/27 (d)		9,019		310
3.500%, 03/20/27 (d)		29,917		840
3.500%, 10/20/29 (d)		241,963		16,185
3.500%, 07/20/40 (d)		24,077		481
3.500%, 02/20/41 (d)		23,359		346
3.500%, 04/20/42 (d)		95,881		3,604
3.500%, 10/20/42 (d)		301,247		45,257
3.500%, 07/20/43 (d)		97,995		15,020
4.000%, 12/16/26 (d)		4,848		23
4.000%, 05/20/29 (d)		84,297		1,619
4.000%, 05/16/42 (d)		28,044		2,797
4.000%, 09/16/42 (d)		524,663		102,493
4.000%, 01/20/44 (d)		25,337		4,567
4.000%, 11/20/44 (d)		380,469		53,916
4.000%, 03/20/47 (d)		169,952		27,454
4.500%, 08/20/45 (d)		332,488		60,316
4.500%, 05/20/48 (d)		276,504		43,439
5.000%, 02/16/40 (d)		210,179		42,226
5.000%, 10/16/41 (d)		96,722		15,208
5.000%, 12/20/43 (d)		242,200		45,853
5.000%, 01/16/47 (d)		46,372		10,138
5.500%, 03/20/39 (d)		123,511		18,111
5.500%, 02/16/47 (d)		134,802		20,777
5.500%, 02/20/47 (d)		88,893		14,770
6.000%, 09/20/40 (d)		169,618		29,349
6.000%, 02/20/46 (d)		145,746		23,703
Government National Mortgage Association, TBA 2.000%, TBA (f)		6,920,000		5,668,261
5.000%, TBA (f)		900,000		884,481
5.500%, TBA (f)		4,125,000		4,121,126
Seasoned Credit Risk Transfer Trust 2.500%, 08/25/59		455,128		371,979
3.500%, 11/25/57		386,931		351,208
3.500%, 03/25/58		743,010		657,263
3.500%, 07/25/58		1,067,398		957,867
3.500%, 08/25/58		209,391		186,687
3.500%, 10/25/58		807,759		717,219
Uniform Mortgage-Backed Security, TBA 2.000%, TBA (f)		7,051,000		5,577,255
2.500%, TBA (f)		4,601,000		3,885,855
4.500%, TBA (f)		14,551,000		13,825,523
5.500%, TBA (f)		19,439,000		19,342,510
6.000%, TBA (f)		53,105,000		53,585,354
7.000%, TBA (f)		1,825,000		1,878,119

				246,270,570


U.S. Treasury—5.7%
U.S. Treasury Bonds
1.250%, 05/15/50		11,030,000		5,641,242

BHFTII-114

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

U.S. Treasury—(Continued)
U.S. Treasury Bonds
1.625%, 11/15/50		3,460,000	$	1,954,224
2.250%, 08/15/46		910,000		622,817
2.375%, 11/15/49 (b)		1,385,000		948,671
2.500%, 02/15/45		2,555,000		1,868,244
2.875%, 08/15/45 (g) (h) (i)		19,040,000		14,820,706
2.875%, 11/15/46		1,200,000		924,703
3.000%, 02/15/47		6,040,000		4,751,545
3.000%, 08/15/52		2,540,000		1,972,965
3.125%, 05/15/48		6,365,000		5,090,508
3.375%, 08/15/42		2,385,000		2,060,044
3.625%, 08/15/43		3,785,000		3,366,728
4.125%, 08/15/53		1,595,000		1,532,945
U.S. Treasury Inflation-Indexed Bond 0.250%, 02/15/50 (j)		5,823,136		3,674,588
U.S. Treasury Inflation-Indexed Notes 0.250%, 07/15/29 (j)		3,031,858		2,795,460
0.750%, 07/15/28 (j)		3,267,704		3,121,605
1.375%, 07/15/33 (j)		2,152,500		2,065,708
1.750%, 01/15/34 (b) (j)		501,580		495,156
U.S. Treasury Notes 4.000%, 02/15/34		8,075,000		7,941,258
4.500%, 11/15/33		3,825,000		3,909,867

				69,558,984

Total U.S. Treasury & Government Agencies (Cost $346,826,666)			315,829,554


Corporate Bonds & Notes—11.3%

Advertising—0.0%
Lamar Media Corp. 3.625%, 01/15/31 (b)		665,000		583,491


Aerospace/Defense—0.2%
BAE Systems PLC 5.125%, 03/26/29 (144A)		275,000		275,952
Boeing Co. 5.040%, 05/01/27 (b)		83,000		81,435
5.150%, 05/01/30		300,000		290,252
5.805%, 05/01/50		50,000		47,306
5.930%, 05/01/60		370,000		346,888
L3Harris Technologies, Inc. 5.050%, 06/01/29		275,000		274,121
5.350%, 06/01/34		325,000		325,003
Northrop Grumman Corp. 5.150%, 05/01/40		175,000		171,443

				1,812,400


Agriculture—0.2%
BAT Capital Corp. 5.834%, 02/20/31		395,000		398,390
6.000%, 02/20/34		160,000		162,007
Philip Morris International, Inc.
5.125%, 02/15/30 (b)		550,000		549,994

Agriculture—(Continued)
Philip Morris International, Inc.
5.125%, 02/13/31		190,000		188,754
5.375%, 02/15/33		285,000		287,342
5.625%, 11/17/29		90,000		92,688
5.625%, 09/07/33		295,000		301,680

				1,980,855


Apparel—0.1%
Hanesbrands, Inc. 4.875%, 05/15/26 (144A)		140,000		136,308
Tapestry, Inc. 7.050%, 11/27/25		90,000		91,852
7.350%, 11/27/28		240,000		252,889
7.700%, 11/27/30		65,000		69,317
William Carter Co. 5.625%, 03/15/27 (144A)		765,000		759,804

				1,310,170


Banks—3.0%
ABN AMRO Bank NV 6.339%, 1Y H15 + 1.650%, 09/18/27 (144A) (b) (c)		300,000		305,148
Banca Comerciala Romana SA 7.625%, 3M EURIBOR + 4.539%, 05/19/27 (EUR) (c)		200,000		226,902
Banca Transilvania SA 8.875%, 1Y EUR Swap + 5.580%, 04/27/27 (EUR) (c)		305,000		348,457
Banco Santander SA 5.538%, 1Y H15 + 1.450%, 03/14/30 (b) (c)		400,000		399,961
6.350%, 03/14/34		200,000		200,144
Bank of America Corp. 1.898%, SOFR + 1.530%, 07/23/31 (c)		350,000		287,258
1.922%, SOFR + 1.370%, 10/24/31 (c)		405,000		330,002
2.572%, SOFR + 1.210%, 10/20/32 (c)		270,000		223,998
2.592%, SOFR + 2.150%, 04/29/31 (c)		620,000		534,531
2.687%, SOFR + 1.320%, 04/22/32 (c)		1,335,000		1,130,011
2.972%, SOFR + 1.330%, 02/04/33 (c)		570,000		484,751
3.419%, 3M TSFR + 1.302%, 12/20/28 (c)		25,000		23,454
4.376%, SOFR + 1.580%, 04/27/28 (c)		620,000		605,241
5.468%, SOFR + 1.650%, 01/23/35 (c)		205,000		206,336
5.933%, SOFR + 1.340%, 09/15/27 (b) (c)		550,000		557,373
Bank of Ireland Group PLC 5.601%, SOFR + 1.620%, 03/20/30 (144A) (c)		685,000		684,151
6.253%, 1Y H15 + 2.650%, 09/16/26 (144A) (c)		925,000		930,328
Bank of New York Mellon Corp. 4.975%, SOFR + 1.085%, 03/14/30 (b) (c)		165,000		165,142
5.188%, SOFR + 1.418%, 03/14/35 (c)		215,000		214,006
6.317%, SOFR + 1.598%, 10/25/29 (c)		525,000		553,996
Barclays PLC 5.690%, SOFR + 1.740%, 03/12/30 (c)		535,000		537,785
9.625%, 5Y SOFR ICE Swap + 5.775%, 12/15/29 (b) (c)		285,000		302,215
BNP Paribas SA 5.894%, SOFR + 1.866%, 12/05/34 (144A) (c)		540,000		564,617
BPCE SA 5.716%, 1Y H15 + 1.959%, 01/18/30 (144A) (c)		250,000		251,235
6.714%, SOFR + 2.270%, 10/19/29 (144A) (b) (c)		895,000		936,356
7.003%, SOFR + 2.590%, 10/19/34 (144A) (c)		740,000		805,533

BHFTII-115

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Banks—(Continued)
CaixaBank SA 5.673%, SOFR + 1.780%, 03/15/30 (144A) (c)		200,000	$	199,884
Citigroup, Inc. 5.174%, SOFR + 1.364%, 02/13/30 (c)		615,000		612,130
Citizens Financial Group, Inc. 5.841%, SOFR + 2.010%, 01/23/30 (c)		170,000		169,756
Credit Agricole SA 5.134%, 03/11/27 (144A)		485,000		485,318
6.251%, SOFR + 2.670%, 01/10/35 (144A) (c)		455,000		462,474
6.316%, SOFR + 1.860%, 10/03/29 (144A) (c)		250,000		259,180
Danske Bank AS 1.621%, 1Y H15 + 1.350%, 09/11/26 (144A) (c)		200,000		188,278
5.705%, 1Y H15 + 1.400%, 03/01/30 (144A) (c)		200,000		201,278
Deutsche Bank AG 2.311%, SOFR + 1.219%, 11/16/27 (c)		285,000		260,565
3.742%, SOFR + 2.257%, 01/07/33 (c)		200,000		165,201
6.819%, SOFR + 2.510%, 11/20/29 (c)		150,000		156,810
Fifth Third Bancorp 5.631%, SOFR + 1.840%, 01/29/32 (c)		55,000		55,056
Goldman Sachs Group, Inc. 2.383%, SOFR + 1.248%, 07/21/32 (c)		540,000		442,993
2.615%, SOFR + 1.281%, 04/22/32 (c)		810,000		679,794
4.223%, 3M TSFR + 1.563%, 05/01/29 (b) (c)		130,000		125,129
HSBC Holdings PLC 2.206%, SOFR + 1.285%, 08/17/29 (b) (c)		400,000		350,571
4.583%, 3M TSFR + 1.796%, 06/19/29 (c)		420,000		407,574
5.402%, SOFR + 2.870%, 08/11/33 (c)		570,000		568,381
5.887%, SOFR + 1.570%, 08/14/27 (c)		565,000		569,942
Huntington Bancshares, Inc. 6.208%, SOFR + 2.020%, 08/21/29 (b) (c)		75,000		76,763
Huntington National Bank 5.650%, 01/10/30		250,000		251,396
Intesa Sanpaolo SpA 7.800%, 11/28/53 (144A) †		390,000		442,478
JPMorgan Chase & Co. 2.545%, SOFR + 1.180%, 11/08/32 (c)		300,000		249,632
2.580%, 3M TSFR + 1.250%, 04/22/32 (b) (c)		325,000		274,767
3.509%, 3M TSFR + 1.207%, 01/23/29 (c)		525,000		496,615
3.960%, 3M TSFR + 1.507%, 01/29/27 (c)		215,000		209,868
4.005%, 3M TSFR + 1.382%, 04/23/29 (c)		410,000		392,993
4.323%, SOFR + 1.560%, 04/26/28 (c)		80,000		78,154
4.851%, SOFR + 1.990%, 07/25/28 (c)		40,000		39,663
5.299%, SOFR + 1.450%, 07/24/29 (c)		375,000		377,786
5.336%, SOFR + 1.620%, 01/23/35 (b) (c)		700,000		702,735
6.070%, SOFR + 1.330%, 10/22/27 (c)		240,000		244,878
6.087%, SOFR + 1.570%, 10/23/29 (c)		95,000		98,763
M&T Bank Corp. 5.053%, SOFR + 1.850%, 01/27/34 (c)		770,000		715,859
7.413%, SOFR + 2.800%, 10/30/29 (c)		530,000		558,971
Manufacturers & Traders Trust Co. 4.700%, 01/27/28		250,000		240,876
mBank SA 0.966%, 3M EURIBOR + 1.250%, 09/21/27 (EUR) (c)		400,000		386,703
Morgan Stanley
1.794%, SOFR + 1.034%, 02/13/32 (c)		775,000		619,521
1.928%, SOFR + 1.020%, 04/28/32 (b) (c)		635,000		509,686

Banks—(Continued)
Morgan Stanley
4.431%, 3M TSFR + 1.890%, 01/23/30 (c)		130,000		125,894
5.164%, SOFR + 1.590%, 04/20/29 (c)		455,000		454,633
5.449%, SOFR + 1.630%, 07/20/29 (c)		115,000		116,008
6.407%, SOFR + 1.830%, 11/01/29 (c)		1,100,000		1,153,419
OTP Bank Nyrt 7.350%, 3M EURIBOR + 4.523%, 03/04/26 (EUR) (c)		390,000		429,179
7.500%, 1Y H15 + 3.711%, 05/25/27 (c)		205,000		210,658
PNC Financial Services Group, Inc. 5.676%, SOFR + 1.902%, 01/22/35 (c)		160,000		161,457
6.037%, SOFR + 2.140%, 10/28/33 (c)		155,000		160,253
Societe Generale SA 6.221%, 1Y H15 + 3.200%, 06/15/33 (144A) (b) (c)		1,190,000		1,192,316
Standard Chartered PLC 7.018%, 1Y H15 + 2.200%, 02/08/30 (144A) (c)		275,000		291,022
7.767%, 1Y H15 + 3.450%, 11/16/28 (144A) (c)		215,000		230,001
UBS Group AG 2.095%, 1Y H15 + 1.000%, 02/11/32 (144A) (c)		200,000		160,201
3.091%, SOFR + 1.730%, 05/14/32 (144A) (c)		250,000		212,642
4.751%, 1Y H15 + 1.750%, 05/12/28 (144A) (c)		285,000		279,260
5.428%, 1Y H15 + 1.520%, 02/08/30 (144A) (c)		420,000		420,623
6.246%, 1Y H15 + 1.800%, 09/22/29 (144A) (c)		475,000		490,063
6.442%, SOFR + 3.700%, 08/11/28 (144A) (c)		250,000		257,383
6.537%, SOFR + 3.920%, 08/12/33 (144A) (c)		970,000		1,022,661
Wells Fargo & Co. 2.572%, 3M TSFR + 1.262%, 02/11/31 (b) (c)		450,000		387,907
2.879%, 3M TSFR + 1.432%, 10/30/30 (c)		190,000		167,959
3.000%, 10/23/26		180,000		170,395
3.350%, SOFR + 1.500%, 03/02/33 (c)		435,000		377,418
4.808%, SOFR + 1.980%, 07/25/28 (c)		185,000		182,284
4.897%, SOFR + 2.100%, 07/25/33 (c)		580,000		558,921
5.389%, SOFR + 2.020%, 04/24/34 (c)		35,000		34,782
5.499%, SOFR + 1.780%, 01/23/35 (c)		240,000		240,565
5.574%, SOFR + 1.740%, 07/25/29 (c)		905,000		915,726
6.303%, SOFR + 1.790%, 10/23/29 (c)		45,000		46,869
6.491%, SOFR + 2.060%, 10/23/34 (c)		145,000		155,523

				35,743,374


Beverages—0.0%
Bacardi Ltd./Bacardi-Martini BV 5.400%, 06/15/33 (144A)		120,000		118,990


Biotechnology—0.1%
Amgen, Inc. 5.250%, 03/02/30		110,000		111,672
5.250%, 03/02/33		700,000		705,888
Royalty Pharma PLC 2.150%, 09/02/31		540,000		435,209
2.200%, 09/02/30 (b)		220,000		182,782

				1,435,551


Building Materials—0.1%
Builders FirstSource, Inc. 5.000%, 03/01/30 (144A) (b)		785,000		749,034

BHFTII-116

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Building Materials—(Continued)
Standard Industries, Inc. 3.375%, 01/15/31 (144A)		125,000	$	104,808
4.375%, 07/15/30 (144A)		720,000		646,952

				1,500,794


Chemicals—0.1%
Celanese U.S. Holdings LLC 6.165%, 07/15/27		395,000		402,311
6.330%, 07/15/29		243,000		251,979
6.550%, 11/15/30		245,000		257,696
Eastman Chemical Co. 5.625%, 02/20/34		225,000		226,248

				1,138,234


Commercial Services—0.3%
Ashtead Capital, Inc. 4.375%, 08/15/27 (144A) (b)		1,000,000		959,276
5.800%, 04/15/34 (144A)		200,000		199,797
ERAC USA Finance LLC 5.000%, 02/15/29 (144A)		70,000		70,117
Gartner, Inc. 4.500%, 07/01/28 (144A)		386,000		367,706
Howard University 2.291%, 10/01/26		100,000		92,323
2.701%, 10/01/29		260,000		229,666
2.801%, 10/01/30		100,000		87,364
2.901%, 10/01/31		100,000		86,096
3.476%, 10/01/41		115,000		83,097
Service Corp. International 3.375%, 08/15/30 (b)		785,000		679,846
5.125%, 06/01/29 (b)		858,000		834,867
United Rentals North America, Inc. 4.000%, 07/15/30 (b)		85,000		77,355

				3,767,510


Computers—0.1%
Booz Allen Hamilton, Inc. 3.875%, 09/01/28 (144A)		891,000		834,638


Distribution/Wholesale—0.0%
LKQ Corp. 5.750%, 06/15/28		125,000		127,210


Diversified Financial Services—0.1%
Capital One Financial Corp. 1.878%, SOFR + 0.855%, 11/02/27 (c)		390,000		356,796
3.273%, SOFR + 1.790%, 03/01/30 (c)		330,000		297,282
5.247%, SOFR + 2.600%, 07/26/30 (c)		165,000		162,391
6.312%, SOFR + 2.640%, 06/08/29 (c)		125,000		128,507
7.624%, SOFR + 3.070%, 10/30/31 (c)		360,000		397,618
Discover Financial Services 7.964%, SOFR + 3.370%, 11/02/34 (c)		180,000		203,886
Macquarie Airfinance Holdings Ltd. 6.400%, 03/26/29 (144A)		55,000		55,870
6.500%, 03/26/31 (144A)		50,000		50,892

				1,653,242


Electric—1.6%
Alabama Power Co. 3.450%, 10/01/49		245,000		181,095
4.150%, 08/15/44		225,000		189,839
Ameren Corp. 5.000%, 01/15/29 (b)		695,000		691,198
Arizona Public Service Co. 5.550%, 08/01/33		120,000		121,350
6.350%, 12/15/32		245,000		261,470
Berkshire Hathaway Energy Co. 1.650%, 05/15/31		165,000		132,108
Cleco Corporate Holdings LLC 3.375%, 09/15/29		275,000		239,897
4.973%, 05/01/46		20,000		16,700
Consolidated Edison Co. of New York, Inc. 3.200%, 12/01/51 (b)		250,000		171,965
5.500%, 03/15/34		115,000		118,798
Dominion Energy, Inc. 3.375%, 04/01/30		268,000		243,557
5.375%, 11/15/32 (b)		852,000		856,840
6.300%, 03/15/33		15,000		15,802
Duke Energy Carolinas LLC 4.250%, 12/15/41		205,000		176,501
Duke Energy Corp. 2.550%, 06/15/31 (b)		820,000		690,453
4.500%, 08/15/32		285,000		270,167
4.850%, 01/05/29 (b)		465,000		460,612
5.000%, 08/15/52 (b)		85,000		76,939
Duke Energy Indiana LLC 2.750%, 04/01/50		145,000		91,888
Duke Energy Ohio, Inc. 5.550%, 03/15/54		135,000		134,649
Duke Energy Progress LLC 4.000%, 04/01/52		130,000		103,152
4.375%, 03/30/44		320,000		274,563
Edison International 4.125%, 03/15/28		85,000		81,553
5.250%, 11/15/28		95,000		94,666
6.950%, 11/15/29		700,000		749,933
Emera, Inc. 6.750%, 06/15/76 (b)		190,000		187,649
Evergy Metro, Inc. 2.250%, 06/01/30		10,000		8,522
Evergy, Inc. 2.450%, 09/15/24		85,000		83,676
2.900%, 09/15/29		345,000		308,158
Eversource Energy 5.125%, 05/15/33		560,000		548,712
5.500%, 01/01/34		180,000		180,020
5.950%, 02/01/29		330,000		340,513
Georgia Power Co. 4.300%, 03/15/42		140,000		121,967
4.700%, 05/15/32		15,000		14,655
4.950%, 05/17/33		25,000		24,649
5.250%, 03/15/34 (b)		140,000		141,414
Investment Energy Resources Ltd. 6.250%, 04/26/29 (144A)		200,000		192,025

BHFTII-117

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Electric—(Continued)
IPALCO Enterprises, Inc. 3.700%, 09/01/24		335,000	$	334,890
Monongahela Power Co. 5.850%, 02/15/34 (144A)		160,000		164,313
National Grid PLC 5.602%, 06/12/28		25,000		25,466
National Rural Utilities Cooperative Finance Corp. 5.800%, 01/15/33		210,000		218,491
NextEra Energy Capital Holdings, Inc. 1.875%, 01/15/27		245,000		224,343
2.250%, 06/01/30		340,000		289,500
4.625%, 07/15/27		215,000		212,002
Niagara Mohawk Power Corp. 5.290%, 01/17/34 (144A)		400,000		393,633
Oglethorpe Power Corp. 4.500%, 04/01/47		130,000		108,148
5.050%, 10/01/48		35,000		31,479
Ohio Edison Co. 5.500%, 01/15/33 (144A)		185,000		184,574
Oncor Electric Delivery Co. LLC 5.650%, 11/15/33		250,000		260,058
Pacific Gas & Electric Co. 2.500%, 02/01/31		840,000		698,526
4.400%, 03/01/32		70,000		64,487
4.550%, 07/01/30 (b)		290,000		275,651
5.250%, 03/01/52		128,000		114,218
5.450%, 06/15/27		52,000		52,149
5.900%, 06/15/32		225,000		228,842
6.100%, 01/15/29		490,000		504,933
6.150%, 01/15/33		410,000		422,603
6.400%, 06/15/33 (b)		610,000		642,293
Public Service Electric & Gas Co. 5.450%, 03/01/54		185,000		190,763
Public Service Enterprise Group, Inc. 5.200%, 04/01/29		115,000		115,088
5.450%, 04/01/34		70,000		70,129
6.125%, 10/15/33		290,000		304,420
Puget Energy, Inc. 2.379%, 06/15/28		270,000		240,804
3.650%, 05/15/25		270,000		263,648
4.100%, 06/15/30		258,000		235,483
4.224%, 03/15/32 (b)		42,000		38,088
Sempra 5.400%, 08/01/26		270,000		270,781
Southern California Edison Co. 2.250%, 06/01/30 (b)		150,000		127,463
5.150%, 06/01/29		240,000		240,986
5.200%, 06/01/34		405,000		400,941
5.750%, 04/15/54		165,000		167,357
5.875%, 12/01/53		140,000		144,285
5.950%, 11/01/32		100,000		104,865
Southern Co. 5.200%, 06/15/33		375,000		374,709
Southwestern Electric Power Co. 5.300%, 04/01/33		205,000		202,526

Electric—(Continued)
Virginia Electric & Power Co. 2.450%, 12/15/50		91,000		53,435
5.000%, 04/01/33		285,000		281,158
5.000%, 01/15/34		415,000		407,473
5.350%, 01/15/54		105,000		102,923
Wisconsin Power & Light Co. 5.375%, 03/30/34		160,000		161,064
Xcel Energy, Inc. 4.600%, 06/01/32 (b)		185,000		173,966

				18,720,609


Energy-Alternate Sources—0.1%
Energo-Pro AS 8.500%, 02/04/27 (144A)		645,000		650,979
Greenko Power II Ltd. 4.300%, 12/13/28		351,000		321,224

				972,203


Engineering & Construction—0.2%
GTP Acquisition Partners I LLC 3.482%, 06/15/50 (144A)		1,355,000		1,321,232
IHS Holding Ltd. 6.250%, 11/29/28 (144A)		390,000		340,860
International Airport Finance SA 12.000%, 03/15/33 (144A)		895,227		948,941

				2,611,033


Entertainment—0.1%
WMG Acquisition Corp. 3.000%, 02/15/31 (144A)		160,000		136,018
3.750%, 12/01/29 (144A) (b)		285,000		255,380
3.875%, 07/15/30 (144A)		855,000		757,512

				1,148,910


Environmental Control—0.1%
Clean Harbors, Inc. 4.875%, 07/15/27 (144A)		1,195,000		1,159,152
Veralto Corp. 5.350%, 09/18/28 (144A)		285,000		288,699

				1,447,851


Food—0.1%
Conagra Brands, Inc. 1.375%, 11/01/27		255,000		223,124
Minerva Luxembourg SA 4.375%, 03/18/31		535,000		447,284
NBM U.S. Holdings, Inc. 7.000%, 05/14/26 (144A)		435,000		436,737
Tyson Foods, Inc. 5.400%, 03/15/29		45,000		45,402
5.700%, 03/15/34		160,000		162,111

				1,314,658

BHFTII-118

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Gas—0.2%
Brooklyn Union Gas Co. 6.388%, 09/15/33 (144A)		365,000	$	377,054
East Ohio Gas Co. 3.000%, 06/15/50 (144A)		30,000		18,977
KeySpan Gas East Corp. 5.994%, 03/06/33 (144A)		275,000		278,693
NiSource, Inc. 3.490%, 05/15/27		95,000		90,614
3.600%, 05/01/30		55,000		50,658
5.250%, 03/30/28		315,000		317,166
5.350%, 04/01/34		280,000		278,483
5.400%, 06/30/33 (b)		290,000		292,333
Southern California Gas Co. 5.200%, 06/01/33 (b)		250,000		250,256
5.600%, 04/01/54		465,000		465,295
Southern Co. Gas Capital Corp. 5.750%, 09/15/33		70,000		72,461

				2,491,990


Hand/Machine Tools—0.1%
Regal Rexnord Corp. 6.050%, 04/15/28 (144A)		775,000		785,666
6.300%, 02/15/30 (144A)		90,000		92,134

				877,800


Healthcare-Products—0.2%
Alcon Finance Corp. 2.600%, 05/27/30 (144A)		275,000		237,432
2.750%, 09/23/26 (144A)		200,000		188,677
3.000%, 09/23/29 (144A)		265,000		239,159
Avantor Funding, Inc. 4.625%, 07/15/28 (144A)		780,000		739,139
Hologic, Inc. 4.625%, 02/01/28 (144A) (b)		658,000		633,481
Smith & Nephew PLC 5.400%, 03/20/34		140,000		139,309
Solventum Corp. 5.400%, 03/01/29 (144A)		395,000		395,796

				2,572,993


Healthcare-Services—0.3%
Centene Corp. 2.450%, 07/15/28 (b)		215,000		190,643
3.375%, 02/15/30		20,000		17,699
4.250%, 12/15/27 (b)		110,000		104,883
4.625%, 12/15/29		1,185,000		1,125,014
CommonSpirit Health 3.347%, 10/01/29		105,000		96,295
HCA, Inc. 3.375%, 03/15/29 (b)		445,000		408,065
5.450%, 04/01/31		45,000		45,235
5.600%, 04/01/34		320,000		322,215
Humana, Inc. 5.375%, 04/15/31		150,000		150,081
5.750%, 12/01/28		60,000		61,484

Healthcare-Services—(Continued)
Kaiser Foundation Hospitals 2.810%, 06/01/41		110,000		81,179
3.002%, 06/01/51		205,000		142,027
UnitedHealth Group, Inc. 2.750%, 05/15/40		315,000		231,792
3.500%, 08/15/39		60,000		49,425
4.950%, 05/15/62		60,000		56,030
5.375%, 04/15/54		375,000		381,395
6.050%, 02/15/63		65,000		71,474

				3,534,936


Home Builders—0.1%
Taylor Morrison Communities, Inc. 5.125%, 08/01/30 (144A)		250,000		238,743
5.750%, 01/15/28 (144A)		623,000		618,641
Toll Brothers Finance Corp. 4.875%, 11/15/25		130,000		128,512

				985,896


Insurance—0.4%
Aon Corp./Aon Global Holdings PLC 5.350%, 02/28/33		150,000		150,812
Aon North America, Inc. 5.450%, 03/01/34		425,000		429,906
Athene Global Funding 2.500%, 03/24/28 (144A)		55,000		49,058
2.646%, 10/04/31 (144A) (b)		510,000		416,113
2.717%, 01/07/29 (144A)		735,000		647,632
Athene Holding Ltd. 5.875%, 01/15/34		250,000		250,498
Corebridge Financial, Inc. 3.850%, 04/05/29		160,000		149,597
5.750%, 01/15/34 (b)		370,000		377,469
6.050%, 09/15/33 (144A)		70,000		72,108
Equitable Financial Life Global Funding 1.800%, 03/08/28 (144A)		755,000		664,793
Equitable Holdings, Inc. 4.350%, 04/20/28 (b)		190,000		184,075
GA Global Funding Trust 5.500%, 01/08/29 (144A)		410,000		411,549
Marsh & McLennan Cos., Inc. 4.750%, 03/15/39		245,000		232,456
Principal Life Global Funding II 5.100%, 01/25/29 (144A)		300,000		299,189
Protective Life Global Funding 5.467%, 12/08/28 (144A)		150,000		152,650
Willis North America, Inc. 3.600%, 05/15/24		130,000		129,613

				4,617,518


Internet—0.2%
Gen Digital, Inc. 5.000%, 04/15/25 (144A)		615,000		611,291
6.750%, 09/30/27 (144A)		540,000		547,733

BHFTII-119

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Internet—(Continued)
Go Daddy Operating Co. LLC/GD Finance Co., Inc. 3.500%, 03/01/29 (144A)		170,000	$	153,323
5.250%, 12/01/27 (144A) (b)		983,000		961,345

				2,273,692


Investment Companies—0.0%
New Mountain Finance Corp. 6.875%, 02/01/29		130,000		128,630


Machinery-Diversified—0.0%
AGCO Corp. 5.450%, 03/21/27		55,000		55,246
5.800%, 03/21/34		75,000		75,936
Ingersoll Rand, Inc. 5.700%, 08/14/33		110,000		112,842
Otis Worldwide Corp. 2.565%, 02/15/30		300,000		263,793
Westinghouse Air Brake Technologies Corp. 5.611%, 03/11/34		65,000		65,841

				573,658


Media—0.4%
Charter Communications Operating LLC/Charter Communications Operating Capital 2.250%, 01/15/29		165,000		140,370
2.800%, 04/01/31		125,000		102,421
3.700%, 04/01/51		125,000		77,306
3.850%, 04/01/61		130,000		77,133
3.900%, 06/01/52		305,000		193,970
4.800%, 03/01/50 (b)		395,000		292,384
5.125%, 07/01/49 (b)		125,000		96,857
5.750%, 04/01/48		35,000		29,474
6.484%, 10/23/45		1,060,000		982,432
6.834%, 10/23/55 (b)		90,000		86,347
Comcast Corp. 2.887%, 11/01/51		240,000		155,790
2.937%, 11/01/56		54,000		33,999
2.987%, 11/01/63		157,000		96,420
3.750%, 04/01/40		220,000		182,873
Cox Communications, Inc. 2.600%, 06/15/31 (144A)		270,000		224,101
Discovery Communications LLC 3.625%, 05/15/30 (b)		180,000		160,987
4.000%, 09/15/55 (b)		451,000		308,651
5.200%, 09/20/47 (b)		140,000		117,625
5.300%, 05/15/49		227,000		190,703
Paramount Global 4.375%, 03/15/43		150,000		101,795
5.250%, 04/01/44		250,000		185,908
5.850%, 09/01/43		40,000		32,410
Sirius XM Radio, Inc. 4.000%, 07/15/28 (144A) (b)		380,000		347,651
4.125%, 07/01/30 (144A) (b)		875,000		764,897

Media—(Continued)
Time Warner Cable LLC 4.500%, 09/15/42 (b)		200,000		147,961

				5,130,465


Mining—0.2%
Corp. Nacional del Cobre de Chile 6.440%, 01/26/36 (144A)		430,000		442,655
Glencore Funding LLC 5.371%, 04/04/29 (144A)		220,000		220,436
5.634%, 04/04/34 (144A)		410,000		411,095
6.375%, 10/06/30 (144A)		440,000		464,331
Rio Tinto Alcan, Inc. 6.125%, 12/15/33		250,000		268,771

				1,807,288


Oil & Gas—0.7%
Aker BP ASA 2.000%, 07/15/26 (144A)		200,000		184,830
6.000%, 06/13/33 (144A)		490,000		505,964
BP Capital Markets America, Inc. 2.939%, 06/04/51		60,000		40,057
4.812%, 02/13/33		435,000		429,303
4.893%, 09/11/33		270,000		268,119
4.989%, 04/10/34 (b)		350,000		349,546
BP Capital Markets PLC 6.450%, 5Y H15 + 2.153%, 12/01/33 (c)		390,000		403,880
Cenovus Energy, Inc. 2.650%, 01/15/32		50,000		41,473
ConocoPhillips Co. 3.800%, 03/15/52		109,000		85,116
4.025%, 03/15/62		115,000		91,136
5.050%, 09/15/33		145,000		146,311
5.550%, 03/15/54		125,000		128,829
5.700%, 09/15/63		265,000		277,752
Diamondback Energy, Inc. 6.250%, 03/15/33 (b)		155,000		165,243
Ecopetrol SA 4.625%, 11/02/31		590,000		490,838
8.375%, 01/19/36		650,000		656,122
8.625%, 01/19/29		435,000		461,082
Energean Israel Finance Ltd. 5.875%, 03/30/31 (144A)		155,000		135,780
8.500%, 09/30/33 (144A)		295,000		291,643
Equinor ASA 3.625%, 04/06/40		170,000		141,638
3.700%, 04/06/50 (b)		25,000		19,821
Hess Corp. 7.125%, 03/15/33		345,000		390,452
7.300%, 08/15/31		210,000		237,634
Leviathan Bond Ltd. 6.500%, 06/30/27 (144A)		480,000		462,666
Ovintiv, Inc. 6.625%, 08/15/37		190,000		198,342
Patterson-UTI Energy, Inc. 5.150%, 11/15/29		160,000		156,546
7.150%, 10/01/33		215,000		231,134

BHFTII-120

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Oil & Gas—(Continued)
Phillips 66 Co. 5.300%, 06/30/33		370,000	$	372,292
Shell International Finance BV 2.875%, 11/26/41		120,000		89,118
3.000%, 11/26/51		155,000		105,830
3.250%, 04/06/50 (b)		125,000		90,743
Viper Energy, Inc. 5.375%, 11/01/27 (144A)		535,000		523,647

				8,172,887


Packaging & Containers—0.1%
Ball Corp. 6.000%, 06/15/29 (b)		1,550,000		1,564,725


Pharmaceuticals—0.1%
AbbVie, Inc. 4.950%, 03/15/31		145,000		146,035
5.400%, 03/15/54		65,000		66,904
Bayer U.S. Finance LLC 6.375%, 11/21/30 (144A) (b)		310,000		316,978
Bristol-Myers Squibb Co. 5.200%, 02/22/34		210,000		213,218
5.550%, 02/22/54		170,000		174,825
Cigna Group 5.000%, 05/15/29		520,000		520,742
CVS Health Corp. 2.700%, 08/21/40		230,000		159,674
4.125%, 04/01/40		155,000		130,574

				1,728,950


Pipelines—0.5%
Cheniere Energy Partners LP 4.500%, 10/01/29 (b)		155,000		147,521
Cheniere Energy, Inc. 5.650%, 04/15/34 (144A) (b)		230,000		231,642
Columbia Pipelines Holding Co. LLC 5.681%, 01/15/34 (144A)		210,000		208,613
6.042%, 08/15/28 (144A)		350,000		357,638
Columbia Pipelines Operating Co. LLC 5.927%, 08/15/30 (144A)		225,000		230,843
6.036%, 11/15/33 (144A)		310,000		321,174
6.544%, 11/15/53 (144A)		195,000		211,268
EIG Pearl Holdings SARL 3.545%, 08/31/36 (144A)		380,000		324,053
Enbridge, Inc. 2.500%, 08/01/33		130,000		104,749
5.700%, 03/08/33		625,000		640,096
Energy Transfer LP 6.400%, 12/01/30		630,000		665,011
EQM Midstream Partners LP 6.500%, 07/01/27 (144A)		30,000		30,265
Greensaif Pipelines Bidco SARL 6.129%, 02/23/38 (144A)		505,000		513,492
6.510%, 02/23/42 (144A)		365,000		379,321

Pipelines—(Continued)
ONEOK, Inc. 3.100%, 03/15/30		30,000		26,827
3.400%, 09/01/29		180,000		165,814
6.100%, 11/15/32		200,000		209,539
Targa Resources Corp. 6.125%, 03/15/33		10,000		10,433
6.150%, 03/01/29 (b)		200,000		208,441
6.250%, 07/01/52		80,000		83,043
Targa Resources Partners LP/Targa Resources Partners Finance Corp. 4.000%, 01/15/32		105,000		94,509
4.875%, 02/01/31		65,000		62,224
Western Midstream Operating LP 4.750%, 08/15/28		145,000		141,044
6.150%, 04/01/33		240,000		246,076

				5,613,636


Real Estate Investment Trusts—0.3%
American Tower Corp. 2.700%, 04/15/31		80,000		67,725
3.800%, 08/15/29		275,000		256,647
Crown Castle, Inc. 2.900%, 03/15/27		240,000		224,480
3.800%, 02/15/28		20,000		18,934
4.300%, 02/15/29		200,000		191,713
4.800%, 09/01/28		535,000		524,558
5.000%, 01/11/28		210,000		207,789
5.600%, 06/01/29		85,000		86,141
GLP Capital LP/GLP Financing II, Inc. 4.000%, 01/15/31		110,000		98,155
5.300%, 01/15/29 (b)		100,000		98,328
5.750%, 06/01/28		270,000		270,200
SBA Tower Trust 2.836%, 01/15/50 (144A)		545,000		531,934
VICI Properties LP 4.950%, 02/15/30		501,000		484,494
VICI Properties LP/VICI Note Co., Inc. 4.625%, 12/01/29 (144A)		115,000		108,758
WEA Finance LLC 3.500%, 06/15/29 (144A)		10,000		8,835

				3,178,691


Retail—0.2%
AutoZone, Inc. 4.750%, 08/01/32		190,000		184,328
4.750%, 02/01/33		60,000		57,966
6.550%, 11/01/33		170,000		186,076
FirstCash, Inc. 4.625%, 09/01/28 (144A)		758,000		713,442
5.625%, 01/01/30 (144A)		585,000		555,906
O’Reilly Automotive, Inc. 4.700%, 06/15/32		290,000		283,413

				1,981,131

BHFTII-121

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Semiconductors—0.1%
Intel Corp. 3.100%, 02/15/60		95,000	$	60,333
5.150%, 02/21/34		210,000		210,479
5.600%, 02/21/54		40,000		40,756
5.700%, 02/10/53 (b)		100,000		103,372
5.900%, 02/10/63		110,000		116,704
Marvell Technology, Inc. 2.450%, 04/15/28		420,000		378,684
Qorvo, Inc. 3.375%, 04/01/31 (144A)		260,000		223,604

				1,133,932


Software—0.5%
Black Knight InfoServ LLC 3.625%, 09/01/28 (144A)		1,053,000		996,328
Constellation Software, Inc. 5.158%, 02/16/29 (144A)		25,000		24,973
5.461%, 02/16/34 (144A)		165,000		166,077
Fair Isaac Corp. 4.000%, 06/15/28 (144A)		853,000		796,749
MSCI, Inc. 3.625%, 11/01/31 (144A) (b)		355,000		308,095
Open Text Corp. 3.875%, 12/01/29 (144A) (b)		1,260,000		1,122,660
6.900%, 12/01/27 (144A)		525,000		542,845
Open Text Holdings, Inc. 4.125%, 12/01/31 (144A) (b)		130,000		114,087
Oracle Corp. 2.950%, 04/01/30		100,000		88,985
3.850%, 04/01/60		830,000		590,726
4.000%, 07/15/46		5,000		3,939
4.100%, 03/25/61 (b)		130,000		97,621
4.125%, 05/15/45		15,000		12,108
6.150%, 11/09/29 (b)		330,000		347,799
SS&C Technologies, Inc. 5.500%, 09/30/27 (144A)		1,140,000		1,114,644

				6,327,636


Telecommunications—0.1%
AT&T, Inc. 3.550%, 09/15/55		259,000		181,099
3.650%, 09/15/59		31,000		21,583
3.800%, 12/01/57		251,000		181,729
Cisco Systems, Inc. 4.950%, 02/26/31		225,000		226,986
5.350%, 02/26/64		150,000		153,728
T-Mobile USA, Inc. 2.050%, 02/15/28		315,000		282,243
3.875%, 04/15/30		140,000		131,150
5.050%, 07/15/33		205,000		202,775
5.750%, 01/15/34		205,000		213,482

				1,594,775


Trucking & Leasing—0.1%
DAE Funding LLC 1.550%, 08/01/24 (144A)		885,000		870,483
Penske Truck Leasing Co. LP/PTL Finance Corp. 2.700%, 11/01/24 (144A)		320,000		314,330
4.000%, 07/15/25 (144A)		365,000		357,428
5.350%, 03/30/29 (144A)		80,000		80,055
6.050%, 08/01/28 (144A) (b)		105,000		108,033

				1,730,329

Total Corporate Bonds & Notes (Cost $140,185,938)			136,243,281


Asset-Backed Securities—3.6%

Asset-Backed - Automobile—0.9%
American Credit Acceptance Receivables Trust 6.090%, 11/12/27 (144A)		325,000		325,853
AmeriCredit Automobile Receivables Trust 2.580%, 09/18/25		435,170		434,469
ARI Fleet Lease Trust 5.410%, 02/17/32 (144A)		627,814		626,327
Avis Budget Rental Car Funding AESOP LLC 5.360%, 06/20/30 (144A)		315,000		316,560
5.580%, 12/20/30 (144A)		170,000		169,564
5.900%, 08/21/28 (144A)		375,000		381,721
Carvana Auto Receivables Trust 4.130%, 04/12/27		812,109		801,198
Chesapeake Funding II LLC 5.650%, 05/15/35 (144A)		521,818		522,376
CPS Auto Receivables Trust 5.910%, 08/16/27 (144A)		565,757		566,063
Credit Acceptance Auto Loan Trust 5.680%, 03/15/34 (144A)		385,000		386,516
DT Auto Owner Trust 5.190%, 10/16/28 (144A)		250,000		248,443
5.410%, 02/15/29 (144A)		280,000		278,481
Enterprise Fleet Financing LLC 5.160%, 09/20/30 (144A)		160,000		159,583
5.420%, 10/22/29 (144A)		390,000		391,339
Exeter Automobile Receivables Trust 2.580%, 09/15/25 (144A)		173,763		172,796
2.730%, 12/15/25 (144A)		86,163		85,354
4.570%, 01/15/27		275,910		275,057
6.030%, 08/16/27		162,000		162,098
6.110%, 09/15/27		158,000		158,421
Flagship Credit Auto Trust 4.690%, 07/17/28 (144A)		503,000		495,151
5.050%, 01/18/28 (144A)		140,000		138,555
GLS Auto Receivables Issuer Trust 4.920%, 01/15/27 (144A)		90,000		89,379
Hertz Vehicle Financing III LLC 5.940%, 02/25/28 (144A)		990,000		1,004,659
Santander Drive Auto Receivables Trust 4.980%, 02/15/28		295,000		292,972
5.610%, 07/17/28		495,000		496,124

BHFTII-122

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Asset-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Asset-Backed - Automobile—(Continued)
SFS Auto Receivables Securitization Trust 5.710%, 01/22/30 (144A)		245,000	$	247,496
Tricolor Auto Securitization Trust 6.480%, 08/17/26 (144A)		96,854		96,872
Westlake Automobile Receivables Trust 1.650%, 02/17/26 (144A)		280,016		277,140
4.310%, 09/15/27 (144A)		560,000		555,097
5.410%, 01/18/28 (144A)		160,000		159,586
World Omni Auto Receivables Trust 5.030%, 05/15/29		270,000		268,340

				10,583,590


Asset-Backed - Home Equity—0.1%
GSAA Home Equity Trust 5.544%, 1M TSFR + 0.214%, 12/25/46 (c)		43,555		21,203
5.985%, 06/25/36 (c)		420,974		107,200
6.044%, 1M TSFR + 0.714%, 03/25/36 (c)		503,185		244,877
Renaissance Home Equity Loan Trust 6.120%, 11/25/36 (k)		239,171		87,140
Soundview Home Loan Trust 5.944%, 1M TSFR + 0.614%, 11/25/36 (c)		354,732		334,088

				794,508


Asset-Backed - Other—2.5%
510 Asset-Backed Trust 2.116%, 06/25/61 (144A) (k)		503,857		489,018
AASET Trust 3.351%, 01/16/40 (144A)		103,183		92,185
Affirm Asset Securitization Trust 6.610%, 01/18/28 (144A)		385,000		387,336
Aligned Data Centers Issuer LLC 6.000%, 08/17/48 (144A)		545,000		544,865
Avant Loans Funding Trust 1.210%, 07/15/30 (144A)		13,869		13,851
Benefit Street Partners CLO XXXI Ltd. 7.675%, 3M TSFR + 2.350%, 04/25/36 (144A) (c)		575,000		578,017
Carlyle U.S. CLO Ltd. 6.843%, 3M TSFR + 1.520%, 04/25/37 (144A) (c)		455,000		453,136
CF Hippolyta Issuer LLC 1.530%, 03/15/61 (144A)		94,245		85,223
1.690%, 07/15/60 (144A)		224,107		209,522
1.990%, 07/15/60 (144A)		242,166		208,156
5.970%, 08/15/62 (144A)		142,661		139,071
Cirrus Funding Ltd. 4.800%, 01/25/37 (144A)		940,000		920,106
CNH Equipment Trust 4.770%, 10/15/30		170,000		168,426
DLLAA LLC 5.640%, 02/22/28 (144A)		285,000		287,812
Domino’s Pizza Master Issuer LLC 2.662%, 04/25/51 (144A)		505,700		449,776
3.668%, 10/25/49 (144A)		316,800		291,364
4.116%, 07/25/48 (144A)		663,250		645,199
Elmwood CLO 19 Ltd. 7.717%, 3M TSFR + 2.400%, 10/17/36 (144A) (c)		760,000		764,350

Asset-Backed - Other—(Continued)
Elmwood CLO 23 Ltd. 7.564%, 3M TSFR + 2.250%, 04/16/36 (144A) (c)		530,000		532,947
Finance America Mortgage Loan Trust 6.494%, 1M TSFR + 1.164%, 09/25/33 (c)		38,773		37,827
FirstKey Homes Trust 4.145%, 05/19/39 (144A)		287,898		279,177
4.250%, 07/17/39 (144A)		1,182,745		1,144,027
GMACM Home Equity Loan Trust 5.944%, 1M TSFR + 0.614%, 10/25/34 (144A) (c)		8,346		8,306
Golub Capital Partners CLO 68B Ltd. 8.125%, 3M TSFR + 2.800%, 07/25/36 (144A) (c)		460,000		464,649
HPS Loan Management Ltd. 8.268%, 3M TSFR + 1.570%, 04/15/37 (144A) (c)		1,260,000		1,260,226
Invesco U.S. CLO Ltd. 7.618%, 3M TSFR + 2.300%, 04/21/36 (144A) (c)		345,000		345,901
JFIN CLO Ltd. 6.580%, 3M TSFR + 1.262%, 04/24/29 (144A) (c)		211,373		211,357
Knollwood CDO Ltd. 8.791%, 3M TSFR + 3.462%, 01/10/39 (144A) (c)		888,341		89
Madison Park Funding LXVII Ltd. 6.831%, 3M TSFR + 1.510%, 04/25/37 (144A) (c)		680,000		680,467
MF1 Ltd. 7.076%, 1M TSFR + 1.750%, 02/19/37 (144A) (c)		685,000		671,606
MFA LLC 5.363%, 03/25/60 (144A) (k)		374,591		370,950
Morgan Stanley ABS Capital I, Inc. Trust 5.744%, 1M TSFR + 0.414%, 06/25/36 (c)		7,423		6,194
New Economy Assets Phase 1 Sponsor LLC 1.910%, 10/20/61 (144A)		865,000		757,516
NRZ Excess Spread-Collateralized Notes 3.844%, 12/25/25 (144A)		69,472		66,591
OCP CLO Ltd. 6.860%, 3M TSFR + 1.520%, 04/23/37 (144A) (c)		670,000		670,118
Octagon 61 Ltd. 7.668%, 3M TSFR + 2.350%, 04/20/36 (144A) (c)		745,000		748,164
PRET LLC 2.487%, 07/25/51 (144A) (k)		230,097		224,484
Pretium Mortgage Credit Partners I LLC 1.992%, 06/27/60 (144A) (k)		411,667		398,983
Pretium Mortgage Credit Partners LLC 1.992%, 02/25/61 (144A) (k)		659,353		642,450
2.981%, 01/25/52 (144A) (k)		768,757		747,116
Progress Residential Trust 1.510%, 10/17/38 (144A)		803,934		730,767
3.200%, 04/17/39 (144A)		275,526		259,356
4.438%, 05/17/41 (144A)		761,917		740,099
4.451%, 06/17/39 (144A)		213,841		208,439
4.750%, 10/27/39 (144A)		347,556		341,632
Retained Vantage Data Centers Issuer LLC 5.000%, 09/15/48 (144A)		845,000		816,785
RR 23 Ltd. 7.964%, 3M TSFR + 2.650%, 10/15/35 (144A) (c)		1,110,000		1,118,585
RR 26 Ltd. 7.564%, 3M TSFR + 2.250%, 04/15/38 (144A) (c)		520,000		521,286
Sapphire Aviation Finance II Ltd. 3.228%, 03/15/40 (144A)		158,675		144,399

BHFTII-123

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Asset-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Asset-Backed - Other—(Continued)
Sound Point CLO XXIX Ltd. 6.656%, 3M TSFR + 1.332%, 04/25/34 (144A) (c)		1,300,000	$	1,291,023
Stack Infrastructure Issuer LLC 5.900%, 07/25/48 (144A)		480,000		478,317
5.900%, 03/25/49 (144A)		265,000		265,767
Summit Issuer LLC 2.290%, 12/20/50 (144A)		320,000		298,322
Taco Bell Funding LLC 2.294%, 08/25/51 (144A)		1,889,348		1,640,803
Texas Debt Capital CLO Ltd. 7.618%, 3M TSFR + 2.300%, 04/20/36 (144A) (c)		635,000		637,048
Tricon Residential Trust 4.849%, 07/17/40 (144A)		770,763		760,913
VCAT LLC 1.743%, 05/25/51 (144A) (k)		349,559		338,592
5.115%, 03/27/51 (144A) (k)		91,515		90,555
Venture 42 CLO Ltd. 6.706%, 3M TSFR + 1.392%, 04/15/34 (144A) (c)		1,300,000		1,299,962
VOLT XCIV LLC 5.240%, 02/27/51 (144A) (k)		332,651		325,037
Wellfleet CLO X Ltd. 6.749%, 3M TSFR + 1.432%, 07/20/32 (144A) (c)		1,063,395		1,062,655
Wendy’s Funding LLC 3.884%, 03/15/48 (144A)		407,786		384,796
Wingstop Funding LLC 2.841%, 12/05/50 (144A)		315,200		286,056

				31,037,752


Asset-Backed - Student Loan—0.1%
Navient Private Education Refi Loan Trust 1.110%, 02/18/70 (144A)		436,611		372,783
5.510%, 10/15/71 (144A)		548,100		550,334

				923,117

Total Asset-Backed Securities (Cost $44,589,379)			43,338,967


Mortgage-Backed Securities—3.6%

Collateralized Mortgage Obligations—2.1%
Adjustable Rate Mortgage Trust 5.944%, 1M TSFR + 0.614%, 01/25/36 (c)		63,895		57,744
5.984%, 1M TSFR + 0.654%, 11/25/35 (c)		15,684		15,496
Angel Oak Mortgage Trust 0.951%, 07/25/66 (144A) (c)		605,672		508,209
0.985%, 04/25/66 (144A) (c)		257,371		212,643
0.990%, 04/25/53 (144A) (c)		173,101		158,397
1.068%, 05/25/66 (144A) (c)		477,402		401,206
1.820%, 11/25/66 (144A) (c)		445,258		382,924
Arroyo Mortgage Trust 3.347%, 04/25/49 (144A) (c)		277,819		260,100
Bear Stearns ALT-A Trust 5.924%, 1M TSFR + 0.594%, 02/25/36 (c)		203,275		177,873
Bear Stearns ARM Trust 4.189%, 07/25/36 (c)		120,061		100,718

Collateralized Mortgage Obligations—(Continued)
Bear Stearns Mortgage Funding Trust 5.804%, 1M TSFR + 0.474%, 10/25/36 (c)		67,959		56,266
5.844%, 1M TSFR + 0.514%, 02/25/37 (c)		276,425		250,645
BINOM Securitization Trust 2.034%, 06/25/56 (144A) (c)		293,769		253,270
BRAVO Residential Funding Trust 0.941%, 02/25/49 (144A) (c)		161,915		143,046
0.970%, 03/25/60 (144A) (c)		127,375		118,447
CHL Mortgage Pass-Through Trust 4.428%, 09/25/47 (c)		165,525		142,732
4.585%, 06/20/35 (c)		4,178		3,845
5.644%, 1M TSFR + 0.514%, 04/25/46 (c)		161,735		135,892
6.124%, 1M TSFR + 0.794%, 02/25/35 (c)		60,910		50,883
COLT Mortgage Loan Trust 0.910%, 06/25/66 (144A) (c)		421,213		343,561
0.956%, 09/27/66 (144A) (c)		749,974		601,644
4.301%, 03/25/67 (144A) (c)		167,357		162,906
Countrywide Alternative Loan Trust 5.500%, 11/25/35		318,575		177,329
5.500%, 1M TSFR + 0.914%, 12/25/35 (c)		62,882		52,632
5.500%, 1M TSFR + 0.564%, 03/01/38 (c)		120,176		88,141
5.984%, 1M TSFR + 0.654%, 01/25/36 (c)		59,654		51,900
6.439%, 12M MTA + 1.350%, 08/25/35 (c)		140,738		111,052
CSMC Trust 0.938%, 05/25/66 (144A) (c)		366,136		293,723
1.179%, 02/25/66 (144A) (c)		518,572		448,442
1.796%, 12/27/60 (144A) (c)		268,209		260,048
1.841%, 10/25/66 (144A) (c)		473,196		410,330
2.265%, 11/25/66 (144A) (c)		1,153,867		1,006,454
3.250%, 04/25/47 (144A) (c)		270,236		243,399
Deephaven Residential Mortgage Trust 0.899%, 04/25/66 (144A) (c)		166,336		143,065
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust 5.744%, 1M TSFR + 0.414%, 12/25/36 (c)		130,281		116,378
Ellington Financial Mortgage Trust 0.931%, 06/25/66 (144A) (c)		175,517		140,933
2.206%, 01/25/67 (144A) (c)		526,086		446,227
GCAT Trust 1.036%, 05/25/66 (144A) (c)		350,406		287,819
1.091%, 05/25/66 (144A) (c)		468,273		388,210
1.262%, 07/25/66 (144A) (c)		914,570		727,066
1.915%, 08/25/66 (144A) (c)		327,384		284,645
GreenPoint Mortgage Funding Trust 6.489%, 12M MTA + 1.400%, 10/25/45 (c)		129,786		97,438
GSR Mortgage Loan Trust 4.713%, 01/25/36 (c)		142,526		128,327
5.744%, 1M TSFR + 0.414%, 01/25/37 (c)		422,356		97,025
6.000%, 07/25/37		131,992		85,142
Imperial Fund Mortgage Trust 3.638%, 03/25/67 (144A) (k)		1,124,596		1,041,761
IndyMac INDX Mortgage Loan Trust 3.712%, 10/25/35 (c)		8,343		7,794
JP Morgan Mortgage Trust 4.294%, 05/25/36 (c)		10,189		8,145
Legacy Mortgage Asset Trust
1.650%, 11/25/60 (144A) (k)		175,477		169,718

BHFTII-124

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mortgage-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Collateralized Mortgage Obligations—(Continued)
Legacy Mortgage Asset Trust
1.750%, 04/25/61 (144A) (k)		260,442	$	252,392
1.750%, 07/25/61 (144A) (k)		344,337		332,946
MASTR Adjustable Rate Mortgages Trust 4.191%, 09/25/33 (c)		43,374		39,958
5.371%, 11/21/34 (c)		29,774		27,749
MetLife Securitization Trust 3.750%, 03/25/57 (144A) (c)		273,067		257,032
MFA Trust 1.029%, 11/25/64 (144A) (c)		262,288		225,466
1.153%, 04/25/65 (144A) (c)		179,299		162,911
Morgan Stanley Mortgage Loan Trust 5.024%, 05/25/36 (c)		111,171		45,094
New Residential Mortgage Loan Trust 0.941%, 10/25/58 (144A) (c)		146,171		132,613
2.492%, 09/25/59 (144A) (c)		70,775		65,167
3.500%, 08/25/59 (144A) (c)		260,952		241,631
3.750%, 11/26/35 (144A) (c)		244,331		228,431
3.859%, 09/25/57 (144A) (c)		366,649		340,258
4.000%, 03/25/57 (144A) (c)		475,885		449,106
4.000%, 05/25/57 (144A) (c)		260,911		246,166
6.194%, 1M TSFR + 0.864%, 01/25/48 (144A) (c)		294,657		285,561
NMLT Trust 1.185%, 05/25/56 (144A) (c)		750,711		620,059
OBX Trust 1.054%, 07/25/61 (144A) (c)		464,221		360,100
1.072%, 02/25/66 (144A) (c)		479,031		406,496
2.305%, 11/25/61 (144A) (c)		932,557		799,768
Preston Ridge Partners Mortgage LLC 1.867%, 04/25/26 (144A) (k)		272,235		267,515
PRPM LLC 1.793%, 06/25/26 (144A) (k)		469,484		459,061
1.793%, 07/25/26 (144A) (k)		387,793		376,447
1.867%, 04/25/26 (144A) (k)		471,431		459,764
2.363%, 10/25/26 (144A) (k)		812,601		791,866
2.487%, 10/25/26 (144A) (k)		361,031		354,003
5.363%, 11/25/25 (144A) (k)		111,206		110,827
Residential Accredit Loans, Inc. Trust 6.000%, 12/25/35		105,161		90,613
6.044%, 1M TSFR + 0.714%, 04/25/36 (c)		420,201		351,603
RFMSI Trust 4.112%, 08/25/35 (c)		43,659		18,802
STAR Trust 1.219%, 05/25/65 (144A) (c)		354,128		308,774
Starwood Mortgage Residential Trust 0.943%, 05/25/65 (144A) (c)		126,590		114,315
1.920%, 11/25/66 (144A) (c)		721,417		602,507
Structured Adjustable Rate Mortgage Loan Trust 5.744%, 1M TSFR + 0.414%, 09/25/34 (c)		31,854		27,499
Toorak Mortgage Corp. Ltd. 3.240%, 06/25/24 (144A) (k)		304,293		301,075
Towd Point Mortgage Trust 2.918%, 11/30/60 (144A) (c)		1,174,628		999,040
Verus Securitization Trust
0.918%, 02/25/64 (144A) (c)		217,621		192,431
0.938%, 07/25/66 (144A) (c)		323,537		255,489

Collateralized Mortgage Obligations—(Continued)
Verus Securitization Trust
1.031%, 02/25/66 (144A) (c)		185,940		160,346
1.824%, 11/25/66 (144A) (c)		499,594		427,434
1.829%, 10/25/66 (144A) (c)		1,164,239		1,007,368
4.130%, 02/25/67 (144A) (k)		166,343		155,704
WaMu Mortgage Pass-Through Certificates Trust 3.811%, 06/25/37 (c)		61,885		52,112
5.969%, 12M MTA + 0.880%, 10/25/46 (c)		112,684		92,948
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust 6.000%, 1M TSFR + 0.714%, 07/25/36 (c)		48,982		32,218
Wells Fargo Mortgage-Backed Securities Trust 6.240%, 09/25/36 (c)		33,327		31,168
6.240%, 10/25/36 (c)		38,791		35,021

				25,446,444


Commercial Mortgage-Backed Securities—1.5%
BANK 0.590%, 11/15/62 (c) (d)		4,525,254		124,528
0.634%, 11/15/62 (c) (d)		2,229,752		69,199
0.685%, 12/15/52 (c) (d)		3,613,194		114,876
0.710%, 11/15/50 (c) (d)		6,746,310		140,584
0.755%, 11/15/54 (c) (d)		774,644		17,155
0.810%, 09/15/62 (c) (d)		4,011,501		142,330
0.885%, 05/15/62 (c) (d)		2,853,053		103,309
0.946%, 12/15/56 (c) (d)		1,000,000		38,202
0.995%, 02/15/56 (c) (d)		1,363,887		85,477
1.760%, 03/15/63 (c) (d)		4,871,772		426,074
3.688%, 02/15/61		1,700,000		1,612,993
BBCMS Mortgage Trust 0.985%, 04/15/53 (c) (d)		1,280,000		67,360
1.454%, 02/15/50 (c) (d)		4,717,365		155,895
1.626%, 02/15/57 (c) (d)		2,039,367		223,364
3.662%, 04/15/55 (c)		230,000		207,504
4.600%, 06/15/55 (c)		245,000		237,717
4.967%, 12/15/51 (c)		475,000		419,056
5.419%, 02/15/57 (c)		385,000		396,025
5.439%, 12/15/55 (c)		325,000		334,281
5.710%, 12/15/55 (c)		105,000		109,827
6.804%, 11/15/56 (c)		400,000		452,160
Benchmark Mortgage Trust 0.455%, 07/15/51 (c) (d)		3,934,539		55,514
0.519%, 01/15/51 (c) (d)		1,701,475		26,281
1.024%, 08/15/52 (c) (d)		1,958,055		64,990
1.189%, 03/15/62 (c) (d)		5,101,428		254,385
1.511%, 01/15/54 (c) (d)		2,351,576		181,226
1.780%, 07/15/53 (c) (d)		1,287,982		80,368
3.882%, 02/15/51 (c)		795,000		745,049
4.016%, 03/15/52		630,000		588,574
BPR Trust 8.557%, 1M TSFR + 3.232%, 08/15/39 (144A) (c)		575,000		576,417
BX Trust 7.776%, 1M TSFR + 2.451%, 08/15/39 (144A) (c)		514,045		517,254
8.289%, 1M TSFR + 3.039%, 03/15/26 (144A) (c)		86,000		85,946
CAMB Commercial Mortgage Trust 8.173%, 1M TSFR + 2.847%, 12/15/37 (144A) (c)		665,000		660,013

BHFTII-125

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mortgage-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Commercial Mortgage-Backed Securities—(Continued)
Citigroup Commercial Mortgage Trust 0.880%, 07/10/47 (c) (d)		2,540,296	$	708
1.011%, 04/10/48 (c) (d)		3,641,661		25,102
COMM Mortgage Trust 1.144%, 10/15/45 (c) (d)		68,890		7
2.819%, 01/10/39 (144A)		205,000		185,088
2.853%, 10/15/45		5,934		5,445
3.796%, 08/10/47		225,000		223,678
3.896%, 01/10/39 (144A) (c)		210,000		181,207
Credit Suisse First Boston Mortgage Securities Corp. 4.877%, 04/15/37		362		358
CSAIL Commercial Mortgage Trust 0.707%, 06/15/57 (c) (d)		10,545,552		41,990
0.890%, 11/15/48 (c) (d)		640,662		7,148
1.856%, 01/15/49 (c) (d)		1,440,336		38,791
DBJPM Mortgage Trust 1.704%, 09/15/53 (c) (d)		1,000,377		54,021
DC Trust 5.727%, 04/13/28 (144A) (c)		200,000		200,399
7.036%, 04/13/28 (144A) (c)		100,000		100,229
GS Mortgage Securities Corp. II 5.507%, 03/10/41 (144A) (c)		615,000		609,548
GS Mortgage Securities Corp. Trust 2.954%, 11/05/34 (144A)		1,200,000		890,428
GS Mortgage Securities Trust 0.366%, 07/10/46 (c) (d)		653,406		7
1.704%, 08/10/44 (144A) (c) (d)		105,195		1
4.955%, 04/10/47 (144A) (c)		465,000		363,480
JP Morgan Chase Commercial Mortgage Securities Trust 2.733%, 10/15/45 (144A) (c)		250,315		219,095
2.812%, 01/16/37 (144A)		305,000		259,532
3.772%, 12/15/47 (144A) (c)		130,000		79,420
JPMBB Commercial Mortgage Securities Trust 0.572%, 09/15/47 (c) (d)		2,485,697		2,223
Morgan Stanley Bank of America Merrill Lynch Trust 0.950%, 12/15/47 (c) (d)		1,528,581		2,364
0.961%, 10/15/48 (c) (d)		706,397		4,947
Morgan Stanley Capital I Trust 1.304%, 06/15/50 (c) (d)		1,397,896		35,549
3.912%, 09/09/32 (144A)		1,140,000		998,310
4.944%, 07/15/49 (144A) (c)		265,000		228,033
5.253%, 10/12/52 (144A) (c)		12,137		4,493
NJ Trust 6.481%, 01/06/29 (144A) (c)		480,000		501,571
SFAVE Commercial Mortgage Securities Trust 3.872%, 01/05/43 (144A) (c)		150,000		115,716
SG Commercial Mortgage Securities Trust 2.632%, 03/15/37 (144A)		1,230,000		1,123,996
TYSN Mortgage Trust 6.580%, 12/10/33 (144A) (c)		895,000		935,310
UBS Commercial Mortgage Trust 1.066%, 08/15/50 (c) (d)		685,747		19,131
Wells Fargo Commercial Mortgage Trust 0.870%, 09/15/57 (c) (d)		4,444,397		43,898
1.056%, 05/15/48 (c) (d)		2,430,471		12,970
2.942%, 10/15/49		890,000		838,233
4.140%, 05/15/48 (c)		80,000		68,749

Commercial Mortgage-Backed Securities—(Continued)
WFRBS Commercial Mortgage Trust 3.016%, 11/15/47 (144A)		23,858		968
3.995%, 05/15/47		92,416		92,115
5.000%, 06/15/44 (144A) (c)		105,000		64,082

				17,892,273

Total Mortgage-Backed Securities (Cost $52,435,505)			43,338,717


Foreign Government—1.4%

Banks—0.0%
Bank Gospodarstwa Krajowego 5.375%, 05/22/33 (144A)		200,000		198,758


Sovereign—1.4%
Angola Government International Bond 8.000%, 11/26/29		400,000		372,000
Bermuda Government International Bonds 2.375%, 08/20/30 (144A)		200,000		167,040
5.000%, 07/15/32 (144A)		405,000		389,610
Brazil Notas do Tesouro Nacional 10.000%, 01/01/31 (BRL)		11,104,000		2,128,963
Chile Government International Bonds 1.250%, 01/22/51 (EUR)		250,000		151,039
4.950%, 01/05/36		400,000		386,605
Colombia Government International Bonds 5.000%, 06/15/45		800,000		578,916
5.200%, 05/15/49		200,000		146,678
5.625%, 02/26/44		225,000		178,005
Costa Rica Government International Bond 6.550%, 04/03/34 (144A)		280,000		289,486
Hungary Government International Bonds 1.625%, 04/28/32 (EUR)		1,320,000		1,163,646
6.125%, 05/22/28 (144A)		710,000		726,891
Indonesia Government International Bonds 1.100%, 03/12/33 (EUR)		1,170,000		999,844
2.150%, 07/18/24 (EUR)		100,000		107,046
Israel Government International Bond 5.750%, 03/12/54		200,000		191,444
Ivory Coast Government International Bond 4.875%, 01/30/32 (EUR)		460,000		426,793
Mexico Government International Bonds 3.500%, 02/12/34		200,000		166,343
6.000%, 05/07/36		1,605,000		1,608,300
6.400%, 05/07/54		200,000		199,256
North Macedonia Government International Bonds 2.750%, 01/18/25 (EUR)		425,000		449,112
3.675%, 06/03/26 (144A) (EUR)		515,000		538,072
Panama Government International Bond 6.875%, 01/31/36		200,000		194,859
Philippines Government International Bonds 1.200%, 04/28/33 (EUR)		775,000		668,971
1.750%, 04/28/41 (EUR)		300,000		226,876
Romania Government International Bonds
2.625%, 12/02/40 (144A) (EUR)		635,000		466,731
2.750%, 04/14/41 (EUR)		1,810,000		1,330,778

BHFTII-126

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Foreign Government—(Continued)


Security Description	Principal Amount*		Value

Sovereign—(Continued)
Romania Government International Bonds 5.875%, 01/30/29 (144A)		348,000	$	347,669
6.375%, 01/30/34 (144A)		246,000		249,183
Saudi Government International Bonds 2.000%, 07/09/39 (EUR)		285,000		234,663
5.000%, 01/18/53 (144A)		400,000		357,224
5.750%, 01/16/54 (144A)		855,000		844,312

				16,286,355

Total Foreign Government (Cost $19,088,507)			16,485,113


Municipals—0.5%
Chicago Board of Education, General Obligation Unlimited 6.138%, 12/01/39		325,000		304,966
6.319%, 11/01/29		315,000		312,862
Chicago Transit Authority Sales Tax Receipts Fund 3.912%, 12/01/40		170,000		146,761
Metropolitan Transportation Authority 4.750%, 11/15/45		505,000		519,803
5.175%, 11/15/49		730,000		676,874
Municipal Electric Authority of Georgia 6.637%, 04/01/57		189,000		217,702
New York Transportation Development Corp. 4.248%, 09/01/35		1,015,000		984,326
Philadelphia Authority for Industrial Development 6.550%, 10/15/28		1,235,000		1,326,047
State Board of Administration Finance Corp. 1.258%, 07/01/25		975,000		929,534
State of California, General Obligation Unlimited 7.300%, 10/01/39		180,000		211,722
Texas Natural Gas Securitization Finance Corp. 5.102%, 04/01/35		595,000		600,204

Total Municipals (Cost $6,557,396)			6,230,801


Floating Rate Loan (l)—0.0%

Oil & Gas—0.0%
Paragon Offshore Finance Co. Term Loan B, 07/18/22 (m) (n) (o) (Cost $587)		587		0


Short-Term Investment—1.4%

Repurchase Agreement—1.4%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $16,441,224; collateralized by U.S. Treasury Bond at 4.250%, maturing 02/15/54, with a market value of $16,765,466.		16,436,658		16,436,658

Total Short-Term Investments (Cost $16,436,658)				16,436,658

Securities Lending Reinvestments (p)—2.3%
Security Description	Shares/ Principal Amount*		Value

Repurchase Agreements—1.6%
Barclays Bank PLC Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $250,114; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $255,836.		250,000	$	250,000
BofA Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.320%, due on 04/01/24 with a maturity value of $6,135,833; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 4.750%, maturity dates ranging from 06/30/24 - 11/15/43, and an aggregate market value of $6,255,777.		6,133,114		6,133,114
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/24 at 5.870%, due on 09/30/24 with a maturity value of $1,030,165; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $6,189,893; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $6,310,904.		6,187,161		6,187,161
National Bank of Canada Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $3,003,179; collateralized by various Common Stock with an aggregate market value of $3,342,416.		3,000,000		3,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $600,274; collateralized by various Common Stock with an aggregate market value of $669,308.		600,000		600,000
Societe Generale Repurchase Agreement dated 03/29/24 at 5.440%, due on 04/01/24 with a maturity value of $100,045; collateralized by various Common Stock with an aggregate market value of $111,458.		100,000		100,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $2,000,903; collateralized by various Common Stock with an aggregate market value of $2,200,334.		2,000,000		2,000,000

				19,270,275


Time Deposit—0.1%
Banco Santander SA (NY) 5.310%, 04/01/24		1,000,000		1,000,000


Mutual Funds—0.6%
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (q)		818,156		818,156
HSBC U.S. Government Money Market Fund, Class I 5.240% (q)		1,000,000		1,000,000

BHFTII-127

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (p)—(Continued)


Security Description	Shares		Value

Mutual Funds—(Continued)
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 5.260% (q)		2,000,000	$	2,000,000
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.260% (q)		4,000,000		4,000,000
STIT-Government & Agency Portfolio, Institutional Class 5.230% (q)		35,027		35,027

				7,853,183

Total Securities Lending Reinvestments (Cost $28,123,458)				28,123,458

Total Investments—111.9% (Cost $1,228,196,215)				1,351,287,825
Other assets and liabilities (net)—(11.9)%				(143,714,968	)

Net Assets—100.0%			$	1,207,572,857


*				Principal amount stated in U.S. dollars unless otherwise noted.
†				Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2024, the market value of restricted securities was $442,478, which is less than 0.05% of net assets. See details shown in the Restricted Securities table that follows.
(a)				Non-income producing security.
(b)				All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $45,978,638 and the collateral received consisted of cash in the amount of $28,123,458 and non-cash collateral with a value of $18,852,121. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)				Variable or floating rate security. The stated rate represents the rate at March 31, 2024. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(d)				Interest only security.
(e)				Principal only security.
(f)				TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(g)				All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2024, the market value of securities pledged was $1,228,313.
(h)				All or a portion of the security was pledged as collateral against TBA securities. As of March 31, 2024, the market value of securities pledged was $277,110.
(i)				All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of March 31, 2024, the market value of securities pledged was $1,556,797.
(j)				Principal amount of security is adjusted for inflation.
(k)				Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(l)				Floating rate loans (“Senior Loans”) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will generally have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are determined periodically by reference to a base lending rate, plus a spread. These base rates are primarily the Secured Overnight Financing Rate and 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.
(m)				Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(n)				Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent less than 0.05% of net assets.
(o)				Non-income producing; security is in default and/or issuer is in bankruptcy.
(p)				Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(q)				The rate shown represents the annualized seven-day yield as of March 31, 2024.
(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 March 31, 2024, the market value of 144A securities was $135,438,787, which is 11.2% of net assets.


Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
Intesa Sanpaolo SpA, 7.800%, 11/28/53		11/20/23	$	390,000	$	389,106	$	442,478

BHFTII-128

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

TBA Forward Sale Commitments


Security Description	Interest Rate			Maturity		Face Amount			Cost			Value
Government National Mortgage Association, TBA		2.500	%		TBA	$	(2,370,000	)	$	(2,025,405	)	$	(2,018,331	)
Government National Mortgage Association, TBA		3.000	%		TBA		(675,000	)		(596,979	)		(595,197	)
Government National Mortgage Association, TBA		3.500	%		TBA		(2,574,000	)		(2,331,972	)		(2,342,024	)
Government National Mortgage Association, TBA		4.000	%		TBA		(1,670,000	)		(1,568,626	)		(1,562,601	)
Government National Mortgage Association, TBA		4.500	%		TBA		(245,000	)		(234,434	)		(235,403	)
Uniform Mortgage-Backed Security, TBA		1.500	%		TBA		(75,000	)		(56,429	)		(56,453	)
Uniform Mortgage-Backed Security, TBA		3.000	%		TBA		(2,964,000	)		(2,535,906	)		(2,517,618	)
Uniform Mortgage-Backed Security, TBA		3.500	%		TBA		(2,435,000	)		(2,162,748	)		(2,150,959	)
Uniform Mortgage-Backed Security, TBA		4.000	%		TBA		(495,000	)		(460,229	)		(458,371	)
Uniform Mortgage-Backed Security, TBA		5.000	%		TBA		(10,525,000	)		(10,287,588	)		(10,268,855	)
Uniform Mortgage-Backed Security, TBA		6.500	%		TBA		(3,970,000	)		(4,050,226	)		(4,055,824	)

Totals									$	(26,310,542	)	$	(26,261,636	)

Forward Foreign Currency Exchange Contracts


Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation
BRL	10,580,000	GSI		06/20/24		USD	2,099,081	$	5,194
EUR	7,542,000	BNP		06/20/24		USD	8,301,649		139,275
EUR	208,000	HSBC		06/20/24		USD	227,365		2,255

Net Unrealized Appreciation								$	146,724

Futures Contracts


Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
U.S. Treasury Note 10 Year Futures		06/18/24		65			USD	7,201,797		$	29,876
U.S. Treasury Note 5 Year Futures		06/28/24		142			USD	15,196,219			40,611
U.S. Treasury Note Ultra 10 Year Futures		06/18/24		22			USD	2,521,406			14,438

Futures Contracts—Short
Euro-Bund Futures		06/06/24		(28	)		EUR	(3,734,640	)		(32,732	)
Euro-Buxl 30 Year Bond Futures		06/06/24		(11	)		EUR	(1,493,800	)		(33,561	)
U.S. Treasury Long Bond Futures		06/18/24		(46	)		USD	(5,540,125	)		(62,600	)
U.S. Treasury Note 2 Year Futures		06/28/24		(11	)		USD	(2,249,328	)		8,580
U.S. Treasury Ultra Long Bond Futures		06/18/24		(19	)		USD	(2,451,000	)		(28,553	)
United Kingdom Long Gilt Bond Futures		06/26/24		(57	)		GBP	(5,696,580	)		(38,289	)

Net Unrealized Depreciation										$	(102,230	)

BHFTII-129

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Swap Agreements

Centrally Cleared Interest Rate Swaps


Pay/Receive Floating Rate	Floating Rate Index		Payment Frequency		Fixed Rate			Payment Frequency		Maturity Date		Notional Amount			Market Value		Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Receive		12M SOFR		Annually		2.880	%		Annually		03/15/53		USD	1,610,000	$	215,506	$	18,089		$	197,417
Receive		12M SOFR		Annually		2.970	%		Annually		03/15/53		USD	2,325,000		274,439		4,618			269,821
Receive		12M SOFR		Annually		3.250	%		Annually		06/21/53		USD	860,000		58,831		(8,626	)		67,457
Receive		12M SOFR		Annually		3.590	%		Annually		09/20/53		USD	2,955,000		22,439		12,973			9,466

Totals															$	571,215	$	27,054		$	544,161

Glossary of Abbreviations

Counterparties


(BNP)—		BNP Paribas SA
(GSI)—		Goldman Sachs International
(HSBC)—		HSBC Bank PLC

Currencies


(BRL)—		Brazilian Real
(EUR)—		Euro
(GBP)—		British Pound
(USD)—		United States Dollar

Index Abbreviations


(EURIBOR)—		Euro InterBank Offered Rate
(H15)—		U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(MTA)—		Monthly Treasury Average Index
(SOFR)—		Secured Overnight Financing Rate
(SOFR30A)—		Secured Overnight Financing Rate 30-Day Average
(RFUCCT)—		Refinitiv USD IBOR Consumer Cash Fallbacks Term
(TSFR)—		Term Secured Overnight Financing Rate

Other Abbreviations


(ARM)—		Adjustable-Rate Mortgage
(ADR)—		American Depositary Receipt
(CDO)—		Collateralized Debt Obligation
(CLO)—		Collateralized Loan Obligation
(ICE)—		Intercontinental Exchange, Inc.
(REMIC)—		Real Estate Mortgage Investment Conduit
(REIT)—		Real Estate Investment Trust
(STACR)—		Structured Agency Credit Risk

BHFTII-130

Brighthouse Funds Trust II

Brighthouse/Wellington Balanced Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1			Level 2			Level 3		Total
Total Common Stocks*	$	745,261,276		$	—		$	—	$	745,261,276
Total U.S. Treasury & Government Agencies*		—			315,829,554			—		315,829,554
Total Corporate Bonds & Notes*		—			136,243,281			—		136,243,281
Total Asset-Backed Securities*		—			43,338,967			—		43,338,967
Total Mortgage-Backed Securities*		—			43,338,717			—		43,338,717
Total Foreign Government*		—			16,485,113			—		16,485,113
Total Municipals*		—			6,230,801			—		6,230,801
Total Floating Rate Loan*		—			—			0		0
Total Short-Term Investment*		—			16,436,658			—		16,436,658
Securities Lending Reinvestments
Repurchase Agreements		—			19,270,275			—		19,270,275
Time Deposit		—			1,000,000			—		1,000,000
Mutual Funds		7,853,183			—			—		7,853,183
Total Securities Lending Reinvestments		7,853,183			20,270,275			—		28,123,458
Total Investments	$	753,114,459		$	598,173,366		$	0	$	1,351,287,825

Collateral for Securities Loaned (Liability)	$	—		$	(28,123,458	)	$	—	$	(28,123,458	)
TBA Forward Sales Commitments (Liability)	$	—		$	(26,261,636	)	$	—	$	(26,261,636	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	146,724		$	—	$	146,724
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	93,505		$	—		$	—	$	93,505
Futures Contracts (Unrealized Depreciation)		(195,735	)		—			—		(195,735	)
Total Futures Contracts	$	(102,230	)	$	—		$	—	$	(102,230	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	544,161		$	—	$	544,161


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-131

Brighthouse Funds Trust II

Brighthouse/Wellington Core Equity Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—96.6% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—7.4%
General Dynamics Corp.		240,692	$	67,993,083
Lockheed Martin Corp.		93,777		42,656,344
Northrop Grumman Corp.		183,108		87,646,475
RTX Corp. (a)		394,254		38,451,593

				236,747,495


Air Freight & Logistics—1.6%
United Parcel Service, Inc.—Class B		340,711		50,639,876


Banks—1.0%
PNC Financial Services Group, Inc.		205,741		33,247,746


Beverages—7.1%
Coca-Cola Co.		1,061,751		64,957,926
Diageo PLC		2,079,260		76,788,353
PepsiCo, Inc.		473,618		82,887,886

				224,634,165


Chemicals—5.5%
Ecolab, Inc.		325,195		75,087,525
Linde PLC		213,386		99,079,388

				174,166,913


Consumer Finance—3.0%
American Express Co.		417,431		95,044,865


Consumer Staples Distribution & Retail—1.9%
Costco Wholesale Corp.		81,199		59,488,823


Financial Services—6.0%
Mastercard, Inc. - Class A		191,900		92,413,283
Visa, Inc. - Class A (a)		354,176		98,843,438

				191,256,721


Ground Transportation—4.7%
Canadian National Railway Co. (a)		595,932		78,473,582
Union Pacific Corp.		294,186		72,349,163

				150,822,745


Health Care Equipment & Supplies—7.9%
Abbott Laboratories		683,916		77,733,892
Medtronic PLC		652,164		56,836,093
Stryker Corp.		323,460		115,756,630

				250,326,615


Health Care Providers & Services—3.2%
UnitedHealth Group, Inc.		204,611		101,221,062


Hotels, Restaurants & Leisure—2.6%
McDonald’s Corp.		288,881		81,449,998


Household Products—5.6%
Colgate-Palmolive Co.		1,056,474		95,135,484
Procter & Gamble Co.		521,285		84,578,491

				179,713,975


Industrial Conglomerates—2.9%
Honeywell International, Inc.		447,193		91,786,363


Insurance—5.0%
Chubb Ltd.		274,900		71,234,837
Marsh & McLennan Cos., Inc.		422,619		87,051,062

				158,285,899


IT Services—2.8%
Accenture PLC - Class A		256,502		88,906,158


Life Sciences Tools & Services—3.2%
Danaher Corp.		410,906		102,611,446


Machinery—0.9%
Deere & Co.		72,901		29,943,357


Pharmaceuticals—4.2%
Johnson & Johnson		445,247		70,433,623
Merck & Co., Inc.		368,416		48,612,491
Pfizer, Inc.		568,127		15,765,524

				134,811,638


Professional Services—2.1%
Automatic Data Processing, Inc.		262,832		65,639,664


Semiconductors & Semiconductor Equipment—2.5%
Texas Instruments, Inc.		448,618		78,153,742


Software—5.5%
Intuit, Inc.		52,745		34,284,250
Microsoft Corp.		335,217		141,032,496

				175,316,746


Specialized REITs—2.9%
American Tower Corp. (a)		263,969		52,157,635
Public Storage (a)		143,440		41,606,206

				93,763,841


Specialty Retail—4.9%
Home Depot, Inc.		162,143		62,198,055
TJX Cos., Inc.		925,373		93,851,330

				156,049,385


Textiles, Apparel & Luxury Goods—2.2%
NIKE, Inc. - Class B		755,181		70,971,910

Total Common Stocks (Cost $2,099,331,722)				3,075,001,148


Escrow Shares—0.0%

Forest Products & Paper — 0.0%
Sino Forest Corp. (b) (c) (d) (Cost $0)		5,844,000		0

BHFTII-132

Brighthouse Funds Trust II

Brighthouse/Wellington Core Equity Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Short-Term Investments—3.3%


Security Description	Principal Amount*		Value

Repurchase Agreement—0.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $28,623,101; collateralized by U.S. Treasury Note at 0.625%, maturing 01/15/26, with a market value of $29,187,480.	$	28,615,152	$	28,615,152


U.S. Treasury—2.4%
U.S. Treasury Bill 5.227%, 05/09/24 (e)		76,995,000		76,566,775

Total Short-Term Investments (Cost $105,182,537)				105,181,927

Total Investments—99.9% (Cost $2,204,514,259)				3,180,183,075
Other assets and liabilities (net)—0.1%				1,908,434

Net Assets—100.0%			$	3,182,091,509


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $149,416,299 and the collateral received consisted of non-cash collateral with a value of $153,102,629. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(b)		Non-income producing security.
(c)		Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent less than 0.05% of net assets.
(d)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(e)		The rate shown represents current yield to maturity.

Glossary of Abbreviations

Other Abbreviations


(REIT)—		Real Estate Investment Trust

BHFTII-133

Brighthouse Funds Trust II

Brighthouse/Wellington Core Equity Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	236,747,495	$	—	$	—	$	236,747,495
Air Freight & Logistics		50,639,876		—		—		50,639,876
Banks		33,247,746		—		—		33,247,746
Beverages		147,845,812		76,788,353		—		224,634,165
Chemicals		174,166,913		—		—		174,166,913
Consumer Finance		95,044,865		—		—		95,044,865
Consumer Staples Distribution & Retail		59,488,823		—		—		59,488,823
Financial Services		191,256,721		—		—		191,256,721
Ground Transportation		150,822,745		—		—		150,822,745
Health Care Equipment & Supplies		250,326,615		—		—		250,326,615
Health Care Providers & Services		101,221,062		—		—		101,221,062
Hotels, Restaurants & Leisure		81,449,998		—		—		81,449,998
Household Products		179,713,975		—		—		179,713,975
Industrial Conglomerates		91,786,363		—		—		91,786,363
Insurance		158,285,899		—		—		158,285,899
IT Services		88,906,158		—		—		88,906,158
Life Sciences Tools & Services		102,611,446		—		—		102,611,446
Machinery		29,943,357		—		—		29,943,357
Pharmaceuticals		134,811,638		—		—		134,811,638
Professional Services		65,639,664		—		—		65,639,664
Semiconductors & Semiconductor Equipment		78,153,742		—		—		78,153,742
Software		175,316,746		—		—		175,316,746
Specialized REITs		93,763,841		—		—		93,763,841
Specialty Retail		156,049,385		—		—		156,049,385
Textiles, Apparel & Luxury Goods		70,971,910		—		—		70,971,910
Total Common Stocks		2,998,212,795		76,788,353		—		3,075,001,148
Total Escrow Shares*		—		—		0		0
Total Short-Term Investments*		—		105,181,927		—		105,181,927
Total Investments	$	2,998,212,795	$	181,970,280	$	0	$	3,180,183,075


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-134

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—99.4% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—2.3%
BWX Technologies, Inc.		106,796	$	10,959,406
L3Harris Technologies, Inc.		68,061		14,503,799

				25,463,205


Automobile Components—1.9%
BorgWarner, Inc.		210,527		7,313,708
Mobileye Global, Inc. - Class A (a)(b)		441,353		14,189,499

				21,503,207


Biotechnology—2.6%
BioMarin Pharmaceutical, Inc. (a)		54,462		4,756,711
Exact Sciences Corp. (a)		89,758		6,198,688
Natera, Inc. (a)		199,201		18,218,923

				29,174,322


Building Products—2.5%
Builders FirstSource, Inc. (a)		135,562		28,271,455


Capital Markets—4.5%
Carlyle Group, Inc. (b)		226,340		10,617,609
KKR & Co., Inc.		223,332		22,462,733
MSCI, Inc.		21,483		12,040,147
Nasdaq, Inc.		71,907		4,537,332

				49,657,821


Commercial Services & Supplies—1.2%
Cintas Corp.		13,049		8,965,054
Waste Connections, Inc.		26,349		4,532,292

				13,497,346


Communications Equipment—1.6%
Arista Networks, Inc. (a)		59,695		17,310,356


Construction & Engineering—1.6%
MasTec, Inc. (a)(b)		38,380		3,578,935
Quanta Services, Inc. (b)		56,064		14,565,427

				18,144,362


Construction Materials—2.3%
Eagle Materials, Inc. (b)		72,764		19,773,617
Summit Materials, Inc. - Class A (a)(b)		132,442		5,902,940

				25,676,557


Consumer Staples Distribution & Retail—1.2%
Dollar General Corp.		83,531		13,035,848


Diversified Consumer Services—1.1%
Bright Horizons Family Solutions, Inc. (a)(b)		112,073		12,704,595


Electrical Equipment—0.7%
Array Technologies, Inc. (a)(b)		520,151		7,755,451


Electronic Equipment, Instruments & Components—1.0%
Amphenol Corp. - Class A		95,606		11,028,152


Financial Services—4.8%
Apollo Global Management, Inc.		282,233		31,737,101
Block, Inc. (a)		106,747		9,028,661
Global Payments, Inc.		98,838		13,210,687

				53,976,449


Ground Transportation—4.4%
J.B. Hunt Transport Services, Inc. (b)		40,777		8,124,817
Knight-Swift Transportation Holdings, Inc.		104,877		5,770,332
XPO, Inc. (a)(b)		287,022		35,025,295

				48,920,444


Health Care Equipment & Supplies—11.8%
Alcon, Inc. (b)		135,057		11,248,897
Align Technology, Inc. (a)		23,905		7,838,928
DexCom, Inc. (a)		181,941		25,235,217
GE HealthCare Technologies, Inc.		46,974		4,270,406
Hologic, Inc. (a)		171,482		13,368,737
IDEXX Laboratories, Inc. (a)		37,340		20,160,986
Inspire Medical Systems, Inc. (a)(b)		117,471		25,231,596
ResMed, Inc. (b)		31,352		6,208,637
STERIS PLC (b)		60,332		13,563,840
Teleflex, Inc.		20,011		4,525,888

				131,653,132


Health Care Providers & Services—0.9%
Humana, Inc.		30,531		10,585,708


Health Care Technology—1.9%
Veeva Systems, Inc. - Class A (a)		93,697		21,708,658


Hotels, Restaurants & Leisure—4.5%
Boyd Gaming Corp.		142,261		9,577,011
Caesars Entertainment, Inc. (a)(b)		177,333		7,756,545
Chipotle Mexican Grill, Inc. (a)		4,972		14,452,460
Domino’s Pizza, Inc.		29,833		14,823,421
Planet Fitness, Inc. - Class A (a)(b)		59,817		3,746,339

				50,355,776


Industrial REITs—0.6%
First Industrial Realty Trust, Inc.		119,752		6,291,770


Insurance—0.9%
Aon PLC - Class A		31,197		10,411,063


Interactive Media & Services—1.4%
Match Group, Inc. (a)(b)		161,838		5,871,483
Pinterest, Inc. - Class A (a)		297,350		10,309,124

				16,180,607


IT Services—4.9%
Cognizant Technology Solutions Corp. - Class A		213,069		15,615,827
EPAM Systems, Inc. (a)		64,132		17,710,693
Gartner, Inc. (a)		13,469		6,420,268
MongoDB, Inc. (a)(b)		28,602		10,257,822
Twilio, Inc. - Class A (a)		69,833		4,270,288

				54,274,898

BHFTII-135

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Leisure Products—1.4%
Mattel, Inc. (a)(b)		779,766	$	15,447,165


Life Sciences Tools & Services—3.2%
Agilent Technologies, Inc.		123,453		17,963,646
Avantor, Inc. (a)		223,116		5,705,076
Mettler-Toledo International, Inc. (a)		8,878		11,819,193

				35,487,915


Machinery—0.4%
Stanley Black & Decker, Inc.		49,617		4,858,993


Media—1.5%
Trade Desk, Inc. - Class A (a)		185,233		16,193,069


Metals & Mining—1.0%
ATI, Inc. (a)(b)		220,234		11,269,374


Oil, Gas & Consumable Fuels—3.6%
Coterra Energy, Inc.		360,677		10,055,675
Permian Resources Corp. (b)		851,187		15,031,962
SM Energy Co. (b)		300,155		14,962,727

				40,050,364


Professional Services—3.1%
Equifax, Inc.		41,918		11,213,903
KBR, Inc.		214,709		13,668,375
TransUnion		127,572		10,180,246

				35,062,524


Real Estate Management & Development—1.6%
CoStar Group, Inc. (a)(b)		181,019		17,486,435


Semiconductors & Semiconductor Equipment—4.6%
KLA Corp.		11,924		8,329,749
Lam Research Corp.		8,584		8,339,957
Marvell Technology, Inc.		131,663		9,332,273
Microchip Technology, Inc.		68,541		6,148,813
Monolithic Power Systems, Inc. (b)		28,035		18,991,470

				51,142,262


Software—10.8%
Bill Holdings, Inc. (a)		82,878		5,695,376
Crowdstrike Holdings, Inc. - Class A (a)		84,170		26,984,060
Datadog, Inc. - Class A (a)(b)		69,605		8,603,178
Elastic NV (a)		40,842		4,094,002
Fair Isaac Corp. (a)		16,066		20,076,234
Fortinet, Inc. (a)		150,782		10,299,919
Guidewire Software, Inc. (a)(b)		130,903		15,277,689
HubSpot, Inc. (a)		24,920		15,613,875
Palantir Technologies, Inc. - Class A (a)		385,810		8,877,488
Palo Alto Networks, Inc. (a)(b)		19,198		5,454,728

				120,976,549


Specialty Retail—4.3%
Burlington Stores, Inc. (a)		79,041		18,352,530
Lithia Motors, Inc. (b)		24,848		7,475,769
Ross Stores, Inc.		107,434		15,767,014
Tractor Supply Co. (b)		22,818		5,971,927

				47,567,240


Trading Companies & Distributors—3.3%
Beacon Roofing Supply, Inc. (a)		167,878		16,455,402
FTAI Aviation Ltd. (b)		300,738		20,239,667

				36,695,069

Total Common Stocks (Cost $873,481,153)				1,109,818,141


Short-Term Investment—0.2%

Repurchase Agreement—0.2%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $2,457,836; collateralized by U.S. Treasury Bond at 4.250%, maturing 02/15/54, with a market value of $2,506,333.		2,457,153		2,457,153

Total Short-Term Investments (Cost $2,457,153)				2,457,153


Securities Lending Reinvestments (c)—9.8%

Certificates of Deposit—2.1%
Bank of Montreal 5.630%, SOFR + 0.300%, 03/04/25 (d)		1,000,000		999,999
Barclays Bank PLC (NY) 5.500%, SOFR + 0.170%, 08/07/24 (d)		5,000,000		5,000,525
Mitsubishi UFJ Trust & Banking Corp. Zero Coupon, 05/09/24		1,000,000		993,770
Mizuho Bank Ltd. 5.500%, SOFR + 0.170%, 08/06/24 (d)		1,000,000		1,000,104
5.730%, SOFR + 0.400%, 04/18/24 (d)		2,000,000		2,000,308
MUFG Bank Ltd. (London) Zero Coupon, 06/04/24		1,000,000		989,920
Nordea Bank Abp 5.450%, SOFR + 0.120%, 07/15/24 (d)		1,000,000		999,936
Oversea-Chinese Banking Corp. Ltd. 5.450%, SOFR + 0.120%, 07/19/24 (d)		2,000,000		1,999,940
Royal Bank of Canada 5.880%, FEDEFF PRV + 0.550%, 09/20/24 (d)		3,000,000		3,005,898
SMBC Bank International PLC Zero Coupon, 05/13/24		1,000,000		993,180
Standard Chartered Bank 5.720%, SOFR + 0.390%, 04/19/24 (d)		1,000,000		1,000,171

BHFTII-136

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)


Security Description	Principal Amount*		Value

Certificates of Deposit—(Continued)
Sumitomo Mitsui Trust Bank Ltd. 5.730%, SOFR + 0.400%, 04/24/24 (d)		2,000,000	$	2,000,432
Westpac Banking Corp. 5.880%, SOFR + 0.550%, 10/11/24 (d)		2,000,000		2,003,756

				22,987,939


Commercial Paper—0.5%
Australia & New Zealand Banking Group Ltd. 5.640%, 04/18/24		1,000,000		996,837
5.660%, SOFR + 0.330%, 04/18/24 (d)		1,000,000		1,000,098
Ciesco LLC 5.340%, 04/01/24		2,000,000		1,998,792
Old Line Funding LLC 5.450%, SOFR + 0.120%, 05/08/24 (d)		2,000,000		1,999,994

				5,995,721


Repurchase Agreements—5.2%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $7,003,179; collateralized by various Common Stock with an aggregate market value of $7,796,752.		7,000,000		7,000,000
Barclays Bank PLC Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $500,227; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $511,672.		500,000		500,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/24 at 5.620%, due on 05/03/24 with a maturity value of $7,038,247; collateralized by various Common Stock with an aggregate market value of $7,700,000.		7,000,000		7,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $15,387,079; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $15,687,892.		15,380,286		15,380,286
National Bank of Canada Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $15,015,896; collateralized by various Common Stock with an aggregate market value of $16,712,079.		15,000,000		15,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $4,602,101; collateralized by various Common Stock with an aggregate market value of $5,131,358.		4,600,000		4,600,000
Societe Generale Repurchase Agreement dated 03/29/24 at 5.440%, due on 04/01/24 with a maturity value of $500,227; collateralized by various Common Stock with an aggregate market value of $557,288.		500,000		500,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $8,003,613; collateralized by various Common Stock with an aggregate market value of $8,801,333.		8,000,000		8,000,000

				57,980,286


Time Deposits—0.7%
Banco Santander SA (NY) 5.310%, 04/01/24		2,000,000		2,000,000
Credit Agricole Corporate & Investment Bank (NY) 5.300%, 04/01/24		2,000,000		2,000,000
DNB Bank ASA 5.280%, 04/01/24		2,000,000		2,000,000
DZ Bank AG (NY) 5.290%, 04/01/24		2,000,000		2,000,000

				8,000,000


Mutual Funds—1.3%
Dreyfus Treasury Obligations Cash Management Fund, Institutional Class 5.200% (e)		3,000,000		3,000,000
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (e)		5,000,000		5,000,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (e)		5,000,000		5,000,000
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.260% (e)		1,000,000		1,000,000

				14,000,000

Total Securities Lending Reinvestments (Cost $108,955,769)				108,963,946

Total Investments— 109.4% (Cost $984,894,075)				1,221,239,240
Other assets and liabilities (net)—(9.4)%				(105,320,832	)

Net Assets—100.0%			$	1,115,918,408

BHFTII-137

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.
(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $198,030,613 and the collateral received consisted of cash in the amount of $108,895,139 and non-cash collateral with a value of $92,549,222. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(d)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. 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.
(e)		The rate shown represents the annualized seven-day yield as of March 31, 2024.

Glossary of Abbreviations

Index Abbreviations


(FEDEFF PRV)—		Effective Federal Funds Rate
(SOFR)—		Secured Overnight Financing Rate

Other Abbreviations


(REIT) —		Real Estate Investment Trust

BHFTII-138

Brighthouse Funds Trust II

Frontier Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	1,109,818,141	$	—		$	—	$	1,109,818,141
Total Short-Term Investment*		—		2,457,153			—		2,457,153
Securities Lending Reinvestments
Certificates of Deposit		—		22,987,939			—		22,987,939
Commercial Paper		—		5,995,721			—		5,995,721
Repurchase Agreements		—		57,980,286			—		57,980,286
Time Deposits		—		8,000,000			—		8,000,000
Mutual Funds		14,000,000		—			—		14,000,000
Total Securities Lending Reinvestments		14,000,000		94,963,946			—		108,963,946
Total Investments	$	1,123,818,141	$	97,421,099		$	—	$	1,221,239,240

Collateral for Securities Loaned (Liability)	$	—	$	(108,895,139	)	$	—	$	(108,895,139	)


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-139

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—99.8% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—0.8%
Boeing Co. (a)		115,040	$	22,201,570


Automobiles—1.5%
Tesla, Inc. (a)		243,615		42,825,081


Biotechnology—1.5%
Vertex Pharmaceuticals, Inc. (a)		103,094		43,094,323


Broadline Retail—10.1%
Amazon.com, Inc. (a)		1,366,003		246,399,621
MercadoLibre, Inc. (a)		28,069		42,439,205

				288,838,826


Capital Markets—0.9%
Goldman Sachs Group, Inc.		35,621		14,878,535
Moody’s Corp.		28,898		11,357,781

				26,236,316


Consumer Staples Distribution & Retail—2.0%
Costco Wholesale Corp.		78,257		57,333,426


Electrical Equipment—0.5%
Eaton Corp. PLC		46,393		14,506,163


Electronic Equipment, Instruments & Components—0.6%
Keysight Technologies, Inc. (a)		119,258		18,649,566


Entertainment—3.6%
Netflix, Inc. (a)		123,393		74,940,271
Walt Disney Co. (b)		239,632		29,321,371

				104,261,642


Financial Services—5.6%
Mastercard, Inc. - Class A		164,757		79,342,029
Visa, Inc. - Class A (b)		290,503		81,073,577

				160,415,606


Ground Transportation—1.5%
Uber Technologies, Inc. (a)		543,086		41,812,191


Health Care Equipment & Supplies—1.4%
Intuitive Surgical, Inc. (a)		98,706		39,392,578


Health Care Providers & Services—1.4%
UnitedHealth Group, Inc.		82,397		40,761,796


Hotels, Restaurants & Leisure—2.8%
Airbnb, Inc. - Class A (a) (b)		214,579		35,396,952
Chipotle Mexican Grill, Inc. (a)		6,751		19,623,604
Marriott International, Inc. - Class A (b)		102,483		25,857,486

				80,878,042


Interactive Media & Services—8.3%
Alphabet, Inc. - Class A (a)		305,434		46,099,153
Alphabet, Inc. - Class C (a)		303,499		46,210,758

Interactive Media & Services—(Continued)
Meta Platforms, Inc. - Class A		299,631		145,494,821

				237,804,732


IT Services—2.1%
MongoDB, Inc. (a) (b)		86,516		31,028,098
Snowflake, Inc. - Class A (a)		178,137		28,786,939

				59,815,037


Media—0.8%
Trade Desk, Inc. - Class A (a)		263,334		23,020,658


Personal Care Products—1.1%
Estee Lauder Cos., Inc. - Class A		59,209		9,127,067
L’Oreal SA		49,661		23,552,329

				32,679,396


Pharmaceuticals—7.2%
AstraZeneca PLC (ADR) (b)		433,376		29,361,224
Eli Lilly & Co.		149,576		116,364,145
Novo Nordisk AS (ADR)		481,352		61,805,597

				207,530,966


Semiconductors & Semiconductor Equipment—18.3%
Advanced Micro Devices, Inc. (a)		598,141		107,958,469
ASML Holding NV		47,254		45,858,589
Broadcom, Inc.		89,348		118,422,733
NVIDIA Corp.		281,054		253,949,152

				526,188,943


Software—17.3%
Adobe, Inc. (a)		85,071		42,926,827
Cadence Design Systems, Inc. (a)		133,680		41,611,910
Crowdstrike Holdings, Inc. - Class A (a)		107,711		34,531,069
HubSpot, Inc. (a) (b)		37,265		23,348,758
Microsoft Corp.		577,326		242,892,595
Palo Alto Networks, Inc. (a) (b)		48,436		13,762,121
Salesforce, Inc.		193,072		58,149,425
ServiceNow, Inc. (a)		50,007		38,125,337

				495,348,042


Specialized REITs—0.8%
American Tower Corp. (b)		119,852		23,681,557


Specialty Retail—3.4%
Home Depot, Inc.		107,339		41,175,240
O’Reilly Automotive, Inc. (a)		24,376		27,517,579
TJX Cos., Inc.		275,732		27,964,740

				96,657,559


Technology Hardware, Storage & Peripherals—3.7%
Apple, Inc.		613,479		105,199,379


Textiles, Apparel & Luxury Goods—2.6%
Lululemon Athletica, Inc. (a)		71,521		27,939,679

BHFTII-140

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares/ Principal Amount*		Value

Textiles, Apparel & Luxury Goods—(Continued)
LVMH Moet Hennessy Louis Vuitton SE		31,660	$	28,634,480
NIKE, Inc. - Class B		208,222		19,568,703

				76,142,862

Total Common Stocks (Cost $1,510,076,424)				2,865,276,257


Short-Term Investment—0.1%

Repurchase Agreement—0.1%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $1,500,857; collateralized by U.S. Treasury Note at 0.625%, maturing 01/15/26, with a market value of $1,530,471.		1,500,440		1,500,440

Total Short-Term Investments (Cost $1,500,440)				1,500,440


Securities Lending Reinvestments (c)—2.3%

Certificates of Deposit—0.8%
Bank of Montreal 5.630%, SOFR + 0.300%, 03/04/25 (d)		1,000,000		999,999
Barclays Bank PLC (NY) 5.500%, SOFR + 0.170%, 08/07/24 (d)		5,000,000		5,000,525
Mitsubishi UFJ Trust & Banking Corp. Zero Coupon, 05/14/24		1,000,000		993,030
Mizuho Bank Ltd. 5.730%, SOFR + 0.400%, 04/18/24 (d)		1,000,000		1,000,154
MUFG Bank Ltd. (London) 5.510%, SOFR + 0.200%, 09/23/24 (d)		2,000,000		2,000,000
Nordea Bank Abp 5.450%, SOFR + 0.120%, 07/15/24 (d)		5,000,000		4,999,680
Oversea-Chinese Banking Corp. Ltd.
5.450%, SOFR + 0.120%, 07/19/24 (d)		1,000,000		999,970
5.500%, SOFR + 0.170%, 09/16/24 (d)		2,000,000		1,999,872
Royal Bank of Canada 5.880%, FEDEFF PRV + 0.550%, 09/20/24 (d)		1,000,000		1,001,966
SMBC Bank International PLC Zero Coupon, 05/13/24		1,000,000		993,180
Sumitomo Mitsui Trust Bank Ltd. 5.730%, SOFR + 0.400%, 04/24/24 (d)		1,000,000		1,000,216
Westpac Banking Corp. 5.880%, SOFR + 0.550%, 10/11/24 (d)		1,000,000		1,001,878

				21,990,470


Commercial Paper—0.1%
ING U.S. Funding LLC 5.560%, SOFR + 0.230%, 11/20/24 (d)		3,000,000		2,999,988


Repurchase Agreements—1.3%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $3,001,363; collateralized by various Common Stock with an aggregate market value of $3,341,465.		3,000,000		3,000,000
Barclays Bank PLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $2,000,903; collateralized by various Common Stock with an aggregate market value of $2,228,579.		2,000,000		2,000,000
BofA Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.320%, due on 04/01/24 with a maturity value of $472,407; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 4.750%, maturity dates ranging from 06/30/24 - 11/15/43, and an aggregate market value of $481,642.		472,198		472,198
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/24 at 5.870%, due on 09/30/24 with a maturity value of $6,180,992; collateralized by various Common Stock with an aggregate market value of $6,600,002.		6,000,000		6,000,000
National Bank of Canada Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $13,013,776; collateralized by various Common Stock with an aggregate market value of $14,483,802.		13,000,000		13,000,000
Royal Bank of Canada Toronto Repurchase Agreement dated 03/29/24 at 5.590%, due on 05/03/24 with a maturity value of $5,027,174; collateralized by various Common Stock with an aggregate market value of $5,556,418.		5,000,000		5,000,000
Societe Generale Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $8,003,613; collateralized by various Common Stock with an aggregate market value of $8,905,019.		8,000,000		8,000,000

				37,472,198


Mutual Funds—0.1%
Fidelity Investments Money Market Government Portfolio, Institutional Class 5.250% (e)		1,000,000		1,000,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (e)		1,000,000		1,000,000
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.260% (e)		1,000,000		1,000,000

BHFTII-141

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)


Security Description	Shares		Value

Mutual Funds—(Continued)
STIT-Government & Agency Portfolio, Institutional Class 5.230% (e)		1,000,000	$	1,000,000

				4,000,000

Total Securities Lending Reinvestments (Cost $66,459,389)				66,462,656

Total Investments—102.2% (Cost $1,578,036,253)				2,933,239,353
Other assets and liabilities (net)—(2.2)%				(63,779,690	)

Net Assets—100.0%			$	2,869,459,663


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.
(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $120,413,158 and the collateral received consisted of cash in the amount of $66,444,922 and non-cash collateral with a value of $56,541,484. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(d)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. 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.
(e)		The rate shown represents the annualized seven-day yield as of March 31, 2024.

Glossary of Abbreviations

Index Abbreviations


(FEDEFF PRV)—		Effective Federal Funds Rate
(SOFR)—		Secured Overnight Financing Rate

Other Abbreviations


(ADR)—		American Depositary Receipt
(REIT)—		Real Estate Investment Trust

BHFTII-142

Brighthouse Funds Trust II

Jennison Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	22,201,570	$	—		$	—	$	22,201,570
Automobiles		42,825,081		—			—		42,825,081
Biotechnology		43,094,323		—			—		43,094,323
Broadline Retail		288,838,826		—			—		288,838,826
Capital Markets		26,236,316		—			—		26,236,316
Consumer Staples Distribution & Retail		57,333,426		—			—		57,333,426
Electrical Equipment		14,506,163		—			—		14,506,163
Electronic Equipment, Instruments & Components		18,649,566		—			—		18,649,566
Entertainment		104,261,642		—			—		104,261,642
Financial Services		160,415,606		—			—		160,415,606
Ground Transportation		41,812,191		—			—		41,812,191
Health Care Equipment & Supplies		39,392,578		—			—		39,392,578
Health Care Providers & Services		40,761,796		—			—		40,761,796
Hotels, Restaurants & Leisure		80,878,042		—			—		80,878,042
Interactive Media & Services		237,804,732		—			—		237,804,732
IT Services		59,815,037		—			—		59,815,037
Media		23,020,658		—			—		23,020,658
Personal Care Products		9,127,067		23,552,329			—		32,679,396
Pharmaceuticals		207,530,966		—			—		207,530,966
Semiconductors & Semiconductor Equipment		526,188,943		—			—		526,188,943
Software		495,348,042		—			—		495,348,042
Specialized REITs		23,681,557		—			—		23,681,557
Specialty Retail		96,657,559		—			—		96,657,559
Technology Hardware, Storage & Peripherals		105,199,379		—			—		105,199,379
Textiles, Apparel & Luxury Goods		47,508,382		28,634,480			—		76,142,862
Total Common Stocks		2,813,089,448		52,186,809			—		2,865,276,257
Total Short-Term Investment*		—		1,500,440			—		1,500,440
Securities Lending Reinvestments
Certificates of Deposit		—		21,990,470			—		21,990,470
Commercial Paper		—		2,999,988			—		2,999,988
Repurchase Agreements		—		37,472,198			—		37,472,198
Mutual Funds		4,000,000		—			—		4,000,000
Total Securities Lending Reinvestments		4,000,000		62,462,656			—		66,462,656
Total Investments	$	2,817,089,448	$	116,149,905		$	—	$	2,933,239,353

Collateral for Securities Loaned (Liability)	$	—	$	(66,444,922	)	$	—	$	(66,444,922	)


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-143

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—98.6% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—3.8%
AAR Corp. (a)		14,440	$	864,523
Cadre Holdings, Inc.		13,300		481,460
Hexcel Corp.		14,258		1,038,695
Kratos Defense & Security Solutions, Inc. (a) (b)		57,693		1,060,397
Leonardo DRS, Inc. (a)		96,615		2,134,225
Mercury Systems, Inc. (a) (b)		52,734		1,555,653
Moog, Inc. - Class A		34,935		5,577,373
V2X, Inc. (a)		49,236		2,299,814

				15,012,140


Automobile Components—1.3%
Dorman Products, Inc. (a)		5,989		577,280
Garrett Motion, Inc. (a) (b)		199,497		1,983,000
Gentherm, Inc. (a)		12,622		726,775
Modine Manufacturing Co. (a)		8,422		801,690
Patrick Industries, Inc. (b)		9,408		1,123,974

				5,212,719


Banks—8.2%
Ameris Bancorp		66,238		3,204,595
Bancorp, Inc. (a)		18,867		631,290
Cadence Bank		102,092		2,960,668
Home BancShares, Inc.		140,402		3,449,677
Hope Bancorp, Inc. (b)		133,280		1,534,053
Pinnacle Financial Partners, Inc. (b)		38,411		3,298,737
Popular, Inc. (b)		43,944		3,871,027
Prosperity Bancshares, Inc.		50,858		3,345,439
SouthState Corp. (b)		40,268		3,423,988
Wintrust Financial Corp.		41,429		4,324,773
WSFS Financial Corp. (b)		53,803		2,428,667

				32,472,914


Beverages—0.1%
Vita Coco Co., Inc. (a)		18,762		458,356


Biotechnology—1.9%
Alkermes PLC (a) (b)		76,666		2,075,348
Immunocore Holdings PLC (ADR) (a)		401		26,065
Insmed, Inc. (a)		18,438		500,223
United Therapeutics Corp. (a)		11,589		2,662,225
Vericel Corp. (a) (b)		23,416		1,218,100
Xencor, Inc. (a) (b)		20,276		448,708
Xenon Pharmaceuticals, Inc. (a) (b)		14,533		625,646

				7,556,315


Building Products—3.9%
AZEK Co., Inc. (a)		31,880		1,601,014
CSW Industrials, Inc.		5,935		1,392,351
Griffon Corp. (b)		47,172		3,459,595
Janus International Group, Inc. (a) (b)		172,577		2,611,090
Quanex Building Products Corp. (b)		70,929		2,725,801
UFP Industries, Inc.		30,102		3,702,847

				15,492,698


Capital Markets—1.5%
Hamilton Lane, Inc. - Class A		10,769	$	1,214,312
Piper Sandler Cos.		4,014		796,739
PJT Partners, Inc. - Class A (b)		11,098		1,046,097
Stifel Financial Corp. (b)		37,903		2,962,878

				6,020,026


Chemicals—2.2%
Ashland, Inc.		20,758		2,021,206
Cabot Corp.		34,908		3,218,517
Ecovyst, Inc. (a)		216,145		2,410,017
Hawkins, Inc.		16,182		1,242,778

				8,892,518


Commercial Services & Supplies—2.8%
ACV Auctions, Inc. - Class A (a) (b)		54,521		1,023,359
Casella Waste Systems, Inc. - Class A (a) (b)		15,346		1,517,259
CECO Environmental Corp. (a)		78,993		1,818,419
Clean Harbors, Inc. (a)		12,793		2,575,359
Vestis Corp.		83,038		1,600,142
VSE Corp. (b)		31,096		2,487,680

				11,022,218


Communications Equipment—0.5%
Calix, Inc. (a)		2,898		96,098
Viavi Solutions, Inc. (a) (b)		192,881		1,753,288

				1,849,386


Construction & Engineering—2.2%
Arcosa, Inc.		51,936		4,459,225
Construction Partners, Inc. - Class A (a)		15,090		847,303
MDU Resources Group, Inc.		111,863		2,818,948
Sterling Infrastructure, Inc. (a) (b)		7,004		772,611

				8,898,087


Construction Materials—1.0%
Knife River Corp. (a)		49,611		4,022,460


Consumer Staples Distribution & Retail—0.8%
Andersons, Inc.		55,634		3,191,723


Diversified Consumer Services—0.2%
Grand Canyon Education, Inc. (a) (b)		5,282		719,461


Electric Utilities—0.5%
ALLETE, Inc.		33,428		1,993,646


Electrical Equipment—0.7%
Atkore, Inc. (b)		14,808		2,818,851


Electronic Equipment, Instruments & Components—5.7%
Advanced Energy Industries, Inc. (b)		8,761		893,447
Bel Fuse, Inc. - Class B (b)		35,200		2,122,912
Crane NXT Co. (b)		43,725		2,706,578
Itron, Inc. (a) (b)		12,247		1,133,092
Littelfuse, Inc.		9,348		2,265,488

BHFTII-144

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Electronic Equipment, Instruments & Components—(Continued)
Novanta, Inc. (a)		5,864	$	1,024,851
TD SYNNEX Corp.		29,803		3,370,719
TTM Technologies, Inc. (a)		177,138		2,772,210
Vontier Corp.		137,600		6,241,536

				22,530,833


Energy Equipment & Services—6.7%
Cactus, Inc. - Class A (b)		21,899		1,096,921
ChampionX Corp. (b)		67,183		2,411,198
Newpark Resources, Inc. (a)		201,810		1,457,068
Noble Corp. PLC (b)		106,300		5,154,487
Oceaneering International, Inc. (a) (b)		30,145		705,393
Tidewater, Inc. (a) (b)		54,156		4,982,352
Weatherford International PLC (a)		91,778		10,593,017

				26,400,436


Entertainment—0.6%
Atlanta Braves Holdings, Inc. - Class C (a) (b)		57,922		2,262,433


Financial Services—3.7%
Euronet Worldwide, Inc. (a)		25,039		2,752,537
EVERTEC, Inc. (b)		28,877		1,152,192
Federal Agricultural Mortgage Corp. - Class C (b)		22,831		4,494,967
International Money Express, Inc. (a)		97,840		2,233,687
NCR Atleos Corp. (a)		63,730		1,258,668
WEX, Inc. (a)		11,361		2,698,579

				14,590,630


Food Products—1.6%
J & J Snack Foods Corp. (b)		7,774		1,123,810
Nomad Foods Ltd.		122,895		2,403,826
Post Holdings, Inc. (a)		18,443		1,960,122
Simply Good Foods Co. (a)		19,370		659,161

				6,146,919


Ground Transportation—0.1%
Marten Transport Ltd.		19,367		357,902


Health Care Equipment & Supplies—3.7%
AtriCure, Inc. (a) (b)		17,113		520,577
Axonics, Inc. (a)		9,907		683,286
CONMED Corp. (b)		21,857		1,750,309
Embecta Corp. (b)		9,576		127,073
Glaukos Corp. (a) (b)		8,992		847,856
Haemonetics Corp. (a)		5,349		456,537
Inmode Ltd. (a)		65,641		1,418,502
Integer Holdings Corp. (a) (b)		4,517		527,044
iRhythm Technologies, Inc. (a) (b)		6,476		751,216
Lantheus Holdings, Inc. (a) (b)		31,250		1,945,000
LivaNova PLC (a)		11,841		662,386
Merit Medical Systems, Inc. (a) (b)		15,791		1,196,168
PROCEPT BioRobotics Corp. (a) (b)		17,043		842,265
UFP Technologies, Inc. (a) (b)		10,961		2,764,364

				14,492,583


Health Care Providers & Services—3.2%
Acadia Healthcare Co., Inc. (a)		10,388	$	822,937
Ensign Group, Inc. (b)		7,567		941,486
HealthEquity, Inc. (a)		10,685		872,217
Option Care Health, Inc. (a)		113,345		3,801,591
Progyny, Inc. (a) (b)		24,309		927,388
RadNet, Inc. (a)		20,929		1,018,405
Tenet Healthcare Corp. (a)		40,214		4,226,894

				12,610,918


Health Care Technology—0.2%
Evolent Health, Inc. - Class A (a) (b)		26,960		884,018


Hotels, Restaurants & Leisure—1.4%
Churchill Downs, Inc.		21,806		2,698,493
First Watch Restaurant Group, Inc. (a)		17,235		424,326
Life Time Group Holdings, Inc. (a) (b)		47,399		735,632
Papa John’s International, Inc. (b)		8,742		582,217
Texas Roadhouse, Inc.		7,185		1,109,867

				5,550,535


Household Durables—1.7%
Installed Building Products, Inc.		3,934		1,017,844
KB Home		40,896		2,898,709
Skyline Champion Corp. (a)		33,628		2,858,716

				6,775,269


Household Products—0.6%
Spectrum Brands Holdings, Inc. (b)		27,956		2,488,364


Independent Power and Renewable Electricity Producers—0.6%
Talen Energy Corp. (a)		23,219		2,190,713


Industrial REITs—0.8%
STAG Industrial, Inc. (b)		79,648		3,061,669


Insurance—2.5%
BRP Group, Inc. - Class A (a) (b)		31,432		909,642
Employers Holdings, Inc.		58,245		2,643,741
Enstar Group Ltd. (a)		6,718		2,087,686
Goosehead Insurance, Inc. - Class A (a) (b)		13,237		881,849
Kemper Corp. (b)		39,719		2,459,400
Kinsale Capital Group, Inc.		1,741		913,572

				9,895,890


IT Services—0.1%
Couchbase, Inc. (a)		18,957		498,759


Leisure Products—0.7%
Brunswick Corp. (b)		29,472		2,844,637


Life Sciences Tools & Services—0.3%
Medpace Holdings, Inc. (a)		3,361		1,358,348


Machinery—4.7%
Albany International Corp. - Class A		38,173		3,569,557

BHFTII-145

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Machinery—(Continued)
Allison Transmission Holdings, Inc.		33,904	$	2,751,649
Atmus Filtration Technologies, Inc. (a) (b)		75,258		2,427,071
Columbus McKinnon Corp.		45,830		2,045,393
ESCO Technologies, Inc.		8,445		904,037
Kadant, Inc. (b)		13,411		4,400,149
RBC Bearings, Inc. (a) (b)		3,761		1,016,786
Wabash National Corp. (b)		52,848		1,582,269

				18,696,911


Marine Transportation—0.6%
Genco Shipping & Trading Ltd.		122,472		2,489,856


Media—0.8%
Cable One, Inc. (b)		3,164		1,338,783
John Wiley & Sons, Inc. - Class A		43,703		1,666,396

				3,005,179


Metals & Mining—0.3%
ATI, Inc. (a) (b)		19,357		990,498


Office REITs—0.8%
Equity Commonwealth (a) (b)		110,536		2,086,920
Postal Realty Trust, Inc. - Class A (b)		66,005		945,191

				3,032,111


Oil, Gas & Consumable Fuels—4.5%
Antero Resources Corp. (a)		97,588		2,830,052
California Resources Corp.		50,895		2,804,314
Delek U.S. Holdings, Inc. (b)		74,012		2,275,129
International Seaways, Inc. (b)		48,478		2,579,030
Kosmos Energy Ltd. (a)		264,510		1,576,480
Magnolia Oil & Gas Corp. - Class A (b)		32,133		833,851
Northern Oil & Gas, Inc. (b)		123,161		4,887,028

				17,785,884


Personal Care Products—1.6%
BellRing Brands, Inc. (a)		70,432		4,157,601
elf Beauty, Inc. (a)		5,234		1,026,021
Inter Parfums, Inc.		7,164		1,006,614

				6,190,236


Pharmaceuticals—2.2%
ANI Pharmaceuticals, Inc. (a)		36,524		2,524,904
Axsome Therapeutics, Inc. (a) (b)		5,922		472,575
Pacira BioSciences, Inc. (a)		74,582		2,179,286
Supernus Pharmaceuticals, Inc. (a) (b)		105,216		3,588,918

				8,765,683


Professional Services—2.5%
Alight, Inc. - Class A (a)		309,037		3,044,014
Concentrix Corp. (b)		22,364		1,480,944
FTI Consulting, Inc. (a)		3,492		734,333
Huron Consulting Group, Inc. (a) (b)		7,334		708,611
ICF International, Inc. (b)		5,519		831,327

Professional Services—(Continued)
KBR, Inc.		11,210		713,629
Korn Ferry		38,035		2,501,181

				10,014,039


Real Estate Management & Development—0.7%
Colliers International Group, Inc. (b)		23,447		2,865,927


Retail REITs—0.5%
Agree Realty Corp.		34,862		1,991,317


Semiconductors & Semiconductor Equipment—3.4%
MACOM Technology Solutions Holdings, Inc. (a) (b)		17,139		1,639,174
MKS Instruments, Inc.		24,906		3,312,498
Onto Innovation, Inc. (a) (b)		7,279		1,318,081
Rambus, Inc. (a)		54,734		3,383,109
Semtech Corp. (a) (b)		97,585		2,682,612
Silicon Laboratories, Inc. (a) (b)		6,838		982,757

				13,318,231


Software—2.2%
Agilysys, Inc. (a)		9,142		770,305
Clearwater Analytics Holdings, Inc. - Class A (a) (b)		32,738		579,135
HashiCorp, Inc. - Class A (a)		55,138		1,485,969
Intapp, Inc. (a) (b)		23,470		805,021
JFrog Ltd. (a)		9,577		423,495
Procore Technologies, Inc. (a)		8,115		666,810
Tenable Holdings, Inc. (a)		19,328		955,383
Varonis Systems, Inc. (a)		28,320		1,335,854
Vertex, Inc. - Class A (a) (b)		32,370		1,028,071
Workiva, Inc. (a) (b)		8,621		731,061

				8,781,104


Specialty Retail—1.3%
Academy Sports & Outdoors, Inc.		34,779		2,348,974
Boot Barn Holdings, Inc. (a) (b)		28,091		2,672,858

				5,021,832


Technology Hardware, Storage & Peripherals—0.3%
Pure Storage, Inc. - Class A (a)		23,029		1,197,278


Textiles, Apparel & Luxury Goods—1.4%
Columbia Sportswear Co. (b)		7,321		594,319
Crocs, Inc. (a)		27,688		3,981,534
Oxford Industries, Inc. (b)		7,004		787,250

				5,363,103


Trading Companies & Distributors—4.0%
Alta Equipment Group, Inc.		64,599		836,557
Applied Industrial Technologies, Inc.		6,927		1,368,429
Beacon Roofing Supply, Inc. (a)		35,667		3,496,079
Custom Truck One Source, Inc. (a) (b)		148,425		863,833
Herc Holdings, Inc.		19,159		3,224,460
McGrath RentCorp		24,690		3,046,005
MRC Global, Inc. (a)		171,565		2,156,572

BHFTII-146

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares/ Principal Amount*		Value

Trading Companies & Distributors—(Continued)
SiteOne Landscape Supply, Inc. (a) (b)		5,714	$	997,379

				15,989,314


Water Utilities—0.2%
Pure Cycle Corp. (a) (b)		101,388		963,186


Wireless Telecommunication Services—0.8%
U.S. Cellular Corp. (a) (b)		82,146		2,998,329

Total Common Stocks (Cost $265,892,972)				390,034,392


Escrow Shares—0.0%

Wireless Telecommunication Services—0.0%
GCI Liberty, Inc. (a) (c) (d) (Cost $0)		39,365		0


Short-Term Investment—1.8%

Repurchase Agreement—1.8%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $7,024,350; collateralized by U.S. Treasury Note at 0.625%, maturing 01/15/26, with a market value of $7,162,853.		7,022,400		7,022,400

Total Short-Term Investments (Cost $7,022,400)				7,022,400


Securities Lending Reinvestments (e)—6.4%

Repurchase Agreements—4.6%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $2,401,090; collateralized by various Common Stock with an aggregate market value of $2,673,173.		2,400,000		2,400,000
Barclays Bank PLC Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $50,023; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $51,167.		50,000		50,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $3,873,386; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $3,949,109.		3,871,676		3,871,676

Repurchase Agreements—(Continued)
National Bank of Canada
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $5,005,299; collateralized by various Common Stock with an aggregate market value of $5,570,693.		5,000,000		5,000,000
Repurchase Agreement dated 03/29/24 at 5.470%, due on 04/01/24 with a maturity value of $1,000,456; collateralized by various Common Stock with an aggregate market value of $1,114,824.		1,000,000		1,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $1,000,457; collateralized by various Common Stock with an aggregate market value of $1,115,513.		1,000,000		1,000,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $5,002,258; collateralized by various Common Stock with an aggregate market value of $5,500,831.		5,000,000		5,000,000

				18,321,676


Mutual Funds—1.8%
AB Government Money Market Portfolio, Institutional Class 5.210% (f)		100,000		100,000
BlackRock Liquidity Funds FedFund, Institutional Shares 5.200% (f)		500,000		500,000
Dreyfus Treasury Obligations Cash Management Fund, Institutional Class 5.200% (f)		500,000		500,000
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (f)		2,000,000		2,000,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (f)		2,000,000		2,000,000
STIT-Government & Agency Portfolio, Institutional Class 5.230% (f)		2,000,000		2,000,000

				7,100,000

Total Securities Lending Reinvestments (Cost $25,421,676)				25,421,676

Total Investments—106.8% (Cost $298,337,048)				422,478,468
Other assets and liabilities (net)—(6.8)%				(26,791,678	)

Net Assets—100.0%			$	395,686,790


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.
(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $69,777,394 and the collateral received consisted of cash in the amount of $25,421,676 and non-cash collateral with a value of $45,750,208. 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.

BHFTII-147

Brighthouse Funds Trust II

Loomis Sayles Small Cap Core Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)


(c)		Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent less than 0.05% of net assets.
(d)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(e)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(f)		The rate shown represents the annualized seven-day yield as of March 31, 2024.

Glossary of Abbreviations

Other Abbreviations


(ADR)—		American Depositary Receipt
(REIT)—		Real Estate Investment Trust

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	390,034,392	$	—		$	—	$	390,034,392
Total Escrow Shares*		—		—			0		0
Total Short-Term Investment*		—		7,022,400			—		7,022,400
Securities Lending Reinvestments
Repurchase Agreements		—		18,321,676			—		18,321,676
Mutual Funds		7,100,000		—			—		7,100,000
Total Securities Lending Reinvestments		7,100,000		18,321,676			—		25,421,676
Total Investments	$	397,134,392	$	25,344,076		$	0	$	422,478,468

Collateral for Securities Loaned (Liability)	$	—	$	(25,421,676	)	$	—	$	(25,421,676	)


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-148

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—96.8% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—4.0%
AAR Corp. (a)		66,233	$	3,965,370
Cadre Holdings, Inc.		60,744		2,198,933
Hexcel Corp.		65,397		4,764,171
Kratos Defense & Security Solutions, Inc. (a)		264,626		4,863,826

				15,792,300


Automobile Components—3.8%
Dorman Products, Inc. (a)		27,471		2,647,930
Gentherm, Inc. (a)		57,894		3,333,536
Modine Manufacturing Co. (a)		38,630		3,677,190
Patrick Industries, Inc. (b)		43,152		5,155,369

				14,814,025


Banks—0.7%
Bancorp, Inc. (a) (b)		86,536		2,895,495


Beverages — 0.5%
Vita Coco Co., Inc. (a)		86,055		2,102,324


Biotechnology—3.3%
Immunocore Holdings PLC (ADR) (a)		1,846		119,990
Insmed, Inc. (a)		84,568		2,294,330
Vericel Corp. (a) (b)		107,404		5,587,156
Xencor, Inc. (a)		93,000		2,058,090
Xenon Pharmaceuticals, Inc. (a)		66,659		2,869,670

				12,929,236


Building Products—1.9%
AZEK Co., Inc. (a)		146,225		7,343,419


Capital Markets—3.6%
Hamilton Lane, Inc. - Class A		49,392		5,569,442
Piper Sandler Cos. (b)		18,418		3,655,789
PJT Partners, Inc. - Class A (b)		50,905		4,798,305

				14,023,536


Commercial Services & Supplies—3.0%
ACV Auctions, Inc. - Class A (a) (b)		250,082		4,694,039
Casella Waste Systems, Inc. - Class A (a) (b)		70,389		6,959,361

				11,653,400


Communications Equipment—0.1%
Calix, Inc. (a) (b)		13,290		440,696


Construction & Engineering—3.1%
Arcosa, Inc.		53,988		4,635,410
Construction Partners, Inc. - Class A (a)		69,214		3,886,366
Sterling Infrastructure, Inc. (a)		32,126		3,543,819

				12,065,595


Diversified Consumer Services—0.8%
Grand Canyon Education, Inc. (a) (b)		24,226		3,299,823


Electronic Equipment, Instruments & Components—3.6%
Advanced Energy Industries, Inc.		40,186		4,098,168
Itron, Inc. (a) (b)		56,176		5,197,404
Novanta, Inc. (a)		26,899		4,701,138

				13,996,710


Energy Equipment & Services—5.0%
Cactus, Inc. - Class A (b)		100,444		5,031,240
Noble Corp. PLC		75,263		3,649,503
Oceaneering International, Inc. (a) (b)		138,267		3,235,448
Weatherford International PLC (a)		67,540		7,795,466

				19,711,657


Financial Services—1.4%
EVERTEC, Inc. (b)		132,452		5,284,835


Food Products—0.8%
Simply Good Foods Co. (a)		88,847		3,023,463


Ground Transportation—0.4%
Marten Transport Ltd.		88,830		1,641,578


Health Care Equipment & Supplies—7.0%
AtriCure, Inc. (a) (b)		78,493		2,387,757
Axonics, Inc. (a)		45,443		3,134,204
Glaukos Corp. (a) (b)		41,244		3,888,897
Integer Holdings Corp. (a) (b)		18,574		2,167,214
iRhythm Technologies, Inc. (a) (b)		29,702		3,445,432
LivaNova PLC (a)		54,311		3,038,157
Merit Medical Systems, Inc. (a)		72,430		5,486,573
PROCEPT BioRobotics Corp. (a) (b)		78,170		3,863,161

				27,411,395


Health Care Providers & Services—6.8%
Acadia Healthcare Co., Inc. (a)		47,645		3,774,437
Ensign Group, Inc.		34,710		4,318,618
HealthEquity, Inc. (a) (b)		49,011		4,000,768
Option Care Health, Inc. (a)		167,133		5,605,641
Progyny, Inc. (a) (b)		111,500		4,253,725
RadNet, Inc. (a)		95,988		4,670,776

				26,623,965


Health Care Technology—1.0%
Evolent Health, Inc. - Class A (a) (b)		123,657		4,054,713


Hotels, Restaurants & Leisure—3.3%
First Watch Restaurant Group, Inc. (a) (b)		78,941		1,943,527
Life Time Group Holdings, Inc. (a)		217,406		3,374,141
Papa John’s International, Inc. (b)		40,098		2,670,527
Texas Roadhouse, Inc.		32,957		5,090,868

				13,079,063


Household Durables—1.2%
Installed Building Products, Inc.		18,045		4,668,783

BHFTII-149

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Insurance—3.2%
BRP Group, Inc. - Class A (a) (b)		144,169	$	4,172,251
Goosehead Insurance, Inc. - Class A (a) (b)		60,713		4,044,700
Kinsale Capital Group, Inc. (b)		7,987		4,191,098

				12,408,049


IT Services—0.6%
Couchbase, Inc. (a)		86,950		2,287,655


Life Sciences Tools & Services—1.6%
Medpace Holdings, Inc. (a)		15,417		6,230,781


Machinery—3.5%
Albany International Corp. - Class A		52,006		4,863,081
ESCO Technologies, Inc.		38,733		4,146,368
RBC Bearings, Inc. (a) (b)		17,252		4,664,078

				13,673,527


Metals & Mining—1.2%
ATI, Inc. (a) (b)		88,786		4,543,180


Oil, Gas & Consumable Fuels—1.0%
Magnolia Oil & Gas Corp. - Class A (b)		147,385		3,824,641


Personal Care Products—3.8%
BellRing Brands, Inc. (a)		93,749		5,534,003
elf Beauty, Inc. (a)		24,006		4,705,896
Inter Parfums, Inc.		32,860		4,617,159

				14,857,058


Pharmaceuticals—1.6%
Axsome Therapeutics, Inc. (a) (b)		27,163		2,167,607
Supernus Pharmaceuticals, Inc. (a) (b)		118,386		4,038,147

				6,205,754


Professional Services—3.5%
FTI Consulting, Inc. (a)		16,019		3,368,635
Huron Consulting Group, Inc. (a)		33,638		3,250,104
ICF International, Inc. (b)		25,313		3,812,897
KBR, Inc.		51,419		3,273,334

				13,704,970


Semiconductors & Semiconductor Equipment—5.6%
MACOM Technology Solutions Holdings, Inc. (a) (b)		78,611		7,518,356
Onto Innovation, Inc. (a)		33,388		6,045,899
Rambus, Inc. (a)		61,775		3,818,313
Silicon Laboratories, Inc. (a) (b)		31,362		4,507,346

				21,889,914


Software—8.6%
Agilysys, Inc. (a)		41,934		3,533,359
Clearwater Analytics Holdings, Inc. - Class A (a)		150,160		2,656,330
Intapp, Inc. (a) (b)		107,653		3,692,498

Software—(Continued)
JFrog Ltd. (a)		43,905		1,941,479
Procore Technologies, Inc. (a)		37,226		3,058,860
Tenable Holdings, Inc. (a) (b)		88,654		4,382,167
Varonis Systems, Inc. (a)		129,897		6,127,242
Vertex, Inc. - Class A (a)		148,471		4,715,439
Workiva, Inc. (a) (b)		39,540		3,352,992

				33,460,366


Specialty Retail—1.0%
Boot Barn Holdings, Inc. (a) (b)		41,141		3,914,566


Technology Hardware, Storage & Peripherals—1.4%
Pure Storage, Inc. - Class A (a)		105,627		5,491,548


Textiles, Apparel & Luxury Goods—1.6%
Columbia Sportswear Co.		33,579		2,725,943
Oxford Industries, Inc.		32,126		3,610,963

				6,336,906


Trading Companies & Distributors—3.3%
Applied Industrial Technologies, Inc.		31,773		6,276,756
McGrath RentCorp		16,268		2,006,983
SiteOne Landscape Supply, Inc. (a) (b)		26,209		4,574,781

				12,858,520

Total Common Stocks (Cost $286,019,500)				378,543,446


Short-Term Investment—2.5%

Repurchase Agreement—2.5%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $9,626,235; collateralized by U.S. Treasury Bond at 4.250%, maturing 02/15/54, with a market value of $9,816,067.		9,623,562		9,623,562

Total Short-Term Investments (Cost $9,623,562)				9,623,562


Securities Lending Reinvestments (c)—2.5%

Repurchase Agreements—1.1%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $854,275; collateralized by various Common Stock with an aggregate market value of $951,078.		853,888		853,888
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $1,232,377; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $1,256,470.		1,231,833		1,231,833

BHFTII-150

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)


Security Description	Shares/ Principal Amount*		Value

Repurchase Agreements—(Continued)
National Bank of Canada Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $1,001,060; collateralized by various Common Stock with an aggregate market value of $1,114,139.		1,000,000	$	1,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $600,274; collateralized by various Common Stock with an aggregate market value of $669,308.		600,000		600,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $500,226; collateralized by various Common Stock with an aggregate market value of $550,083.		500,000		500,000

				4,185,721


Mutual Funds—1.4%
AB Government Money Market , Institutional Class 5.210% (d)		1,000,000		1,000,000
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (d)		1,000,000		1,000,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (d)		2,000,000		2,000,000
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 5.260% (d)		1,000,000		1,000,000

Mutual Funds—(Continued)
STIT-Government & Agency Portfolio, Institutional Class 5.230% (d)		700,000		700,000

				5,700,000

Total Securities Lending Reinvestments (Cost $9,885,721)				9,885,721

Total Investments—101.8% (Cost $305,528,783)				398,052,729
Other assets and liabilities (net)—(1.8)%				(7,034,506	)

Net Assets—100.0%			$	391,018,223


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.
(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $67,005,995 and the collateral received consisted of cash in the amount of $9,885,721 and non-cash collateral with a value of $58,145,906. 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.
(c)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(d)		The rate shown represents the annualized seven-day yield as of March 31, 2024.

Glossary of Abbreviations

Other Abbreviations


(ADR)—		American Depositary Receipt

BHFTII-151

Brighthouse Funds Trust II

Loomis Sayles Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	378,543,446	$	—		$	—	$	378,543,446
Total Short-Term Investment*		—		9,623,562			—		9,623,562
Securities Lending Reinvestments
Repurchase Agreements		—		4,185,721			—		4,185,721
Mutual Funds		5,700,000		—			—		5,700,000
Total Securities Lending Reinvestments		5,700,000		4,185,721			—		9,885,721
Total Investments	$	384,243,446	$	13,809,283		$	—	$	398,052,729

Collateral for Securities Loaned (Liability)	$	—	$	(9,885,721	)	$	—	$	(9,885,721	)


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-152

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

U.S. Treasury & Government Agencies—69.4% of Net Assets


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—26.8%
Federal Home Loan Mortgage Corp.
1.500%, 03/01/36		1,354,132	$	1,177,499
1.500%, 05/01/36		3,549,831		3,085,148
1.500%, 01/01/42		2,598,956		2,116,317
1.500%, 03/01/51		818,533		618,945
1.500%, 04/01/51		4,133,658		3,125,276
2.000%, 10/01/35		2,077,959		1,850,815
2.000%, 11/01/35		1,655,215		1,473,834
2.000%, 06/01/36		696,852		619,440
2.000%, 03/01/41		1,844,929		1,556,838
2.000%, 12/01/41		2,498,954		2,101,261
2.000%, 10/01/50		3,496,130		2,790,497
2.000%, 11/01/50		3,611,838		2,881,729
2.000%, 12/01/50		5,902,445		4,702,238
2.000%, 01/01/51		8,975,531		7,155,615
2.000%, 02/01/51		3,785,303		3,016,604
2.000%, 05/01/51		5,220,286		4,152,002
2.000%, 06/01/51		1,649,804		1,311,675
2.000%, 07/01/51		5,017,188		3,987,351
2.000%, 08/01/51		4,132,015		3,282,587
2.000%, 12/01/51		4,394,804		3,485,897
2.500%, 12/01/27		177,943		171,570
2.500%, 04/01/28		350,434		335,934
2.500%, 12/01/29		520,007		494,713
2.500%, 01/01/32		1,412,351		1,329,290
2.500%, 08/01/35		1,062,290		972,105
2.500%, 02/01/41		1,361,046		1,193,039
2.500%, 03/01/50		1,482,393		1,239,737
2.500%, 07/01/50		3,895,856		3,253,298
2.500%, 09/01/50		2,694,237		2,248,195
2.500%, 10/01/50		2,184,384		1,822,072
2.500%, 12/01/50		3,016,376		2,514,194
2.500%, 04/01/51		2,552,245		2,127,589
2.500%, 07/01/51		5,494,009		4,566,518
2.500%, 08/01/51		3,849,592		3,198,515
2.500%, 12/01/51		2,135,424		1,771,612
3.000%, 03/01/27		125,763		121,756
3.000%, 05/01/27		178,099		173,077
3.000%, 11/01/28		292,312		282,188
3.000%, 10/01/32		361,560		341,949
3.000%, 04/01/33		688,119		647,643
3.000%, 03/01/35		613,375		575,930
3.000%, 02/01/37		788,655		729,534
3.000%, 10/01/42		866,904		778,158
3.000%, 01/01/43		593,566		532,975
3.000%, 03/01/43		561,464		504,150
3.000%, 04/01/43		1,289,516		1,157,156
3.000%, 06/01/43		917,264		822,793
3.000%, 06/01/45		914,884		809,594
3.000%, 06/01/46		902,817		798,560
3.000%, 11/01/46		1,016,814		899,393
3.000%, 01/01/47		1,797,771		1,590,165
3.000%, 01/01/48		390,820		344,793
3.000%, 09/01/49		867,156		757,101
3.000%, 12/01/49		1,121,216		978,917
3.000%, 02/01/50		569,610		497,318

Agency Sponsored Mortgage - Backed—(Continued)
Federal Home Loan Mortgage Corp.
3.000%, 04/01/50		1,017,843		887,678
3.000%, 05/01/50		961,300		838,068
3.000%, 07/01/50		854,130		744,106
3.000%, 11/01/50		917,771		798,411
3.000%, 11/01/52		1,407,556		1,212,868
3.500%, 12/01/25		74,842		73,398
3.500%, 05/01/26		28,865		28,262
3.500%, 09/01/30		543,619		526,028
3.500%, 04/01/32		394,083		378,041
3.500%, 01/01/42		281,291		260,520
3.500%, 03/01/42		259,699		240,580
3.500%, 02/01/43		452,945		419,599
3.500%, 05/01/43		674,148		623,551
3.500%, 06/01/43		376,640		348,423
3.500%, 06/01/44		318,534		293,057
3.500%, 10/01/44		419,446		385,896
3.500%, 12/01/44		489,881		450,699
3.500%, 05/01/45		644,934		591,489
3.500%, 11/01/45		624,196		572,469
3.500%, 12/01/45		384,680		352,802
3.500%, 03/01/46		1,101,722		1,009,260
3.500%, 06/01/47		505,855		461,667
3.500%, 08/01/47		324,949		296,564
3.500%, 10/01/47		451,649		411,676
3.500%, 11/01/47		439,063		400,710
3.500%, 04/01/49		303,275		274,892
3.500%, 05/01/49		193,807		175,668
3.500%, 10/01/49		408,525		370,292
3.500%, 03/01/50		552,736		501,006
3.500%, 06/01/50		1,063,973		964,040
3.500%, 08/01/50		1,559,198		1,412,449
4.000%, 05/01/25		26,351		26,016
4.000%, 08/01/25		14,708		14,502
4.000%, 10/01/25		18,575		18,282
4.000%, 01/01/31		154,454		150,862
4.000%, 08/01/31		173,442		169,221
4.000%, 06/01/39		162,815		155,840
4.000%, 12/01/39		319,518		305,776
4.000%, 11/01/40		226,078		216,329
4.000%, 04/01/41		275,481		263,284
4.000%, 09/01/41		238,341		227,788
4.000%, 10/01/41		664,084		634,586
4.000%, 11/01/41		177,482		169,624
4.000%, 07/01/44		527,461		500,410
4.000%, 10/01/44		410,392		389,345
4.000%, 07/01/45		655,243		621,055
4.000%, 01/01/46		593,246		562,293
4.000%, 02/01/46		333,772		316,358
4.000%, 06/01/47		535,263		505,199
4.000%, 10/01/47		285,848		269,792
4.000%, 11/01/47		269,722		254,572
4.000%, 03/01/48		427,787		403,760
4.000%, 05/01/48		197,445		186,025
4.000%, 10/01/48		215,936		203,446
4.000%, 11/01/48		260,723		245,643
4.000%, 01/01/49		155,725		146,718

BHFTII-153

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal Home Loan Mortgage Corp.
4.000%, 02/01/49		149,006	$	140,210
4.000%, 06/01/49		297,019		279,158
4.000%, 03/01/54		998,817		925,576
4.500%, 05/01/29		32,573		32,164
4.500%, 10/01/35		87,108		86,226
4.500%, 06/01/38		124,358		123,100
4.500%, 02/01/39		73,860		72,644
4.500%, 03/01/39		115,947		114,390
4.500%, 04/01/39		124,329		122,252
4.500%, 09/01/39		144,129		141,721
4.500%, 10/01/39		341,346		335,643
4.500%, 11/01/39		93,447		91,885
4.500%, 01/01/40		113,612		111,714
4.500%, 05/01/40		141,671		139,185
4.500%, 11/01/40		203,194		199,629
4.500%, 02/01/41		46,506		45,639
4.500%, 05/01/41		143,854		141,172
4.500%, 06/01/41		86,137		84,532
4.500%, 12/01/43		177,474		173,543
4.500%, 12/01/45		252,451		247,014
4.500%, 08/01/47		385,263		374,389
4.500%, 08/01/48		153,962		149,096
4.500%, 10/01/48		273,813		265,159
4.500%, 12/01/48		172,462		167,011
4.500%, 01/01/49		148,179		143,315
4.500%, 11/01/53		982,081		935,535
5.000%, 03/01/27		9,148		9,086
5.000%, 10/01/33		100,673		100,968
5.000%, 03/01/34		20,206		20,265
5.000%, 08/01/35		131,673		132,083
5.000%, 09/01/35		38,019		38,137
5.000%, 10/01/35		6,451		6,472
5.000%, 01/01/36		115,602		115,961
5.000%, 04/01/38		66,811		67,140
5.000%, 11/01/39		302,241		303,476
5.000%, 05/01/40		334,109		335,628
5.500%, 06/01/34		29,549		30,164
5.500%, 10/01/35		44,456		45,546
5.500%, 01/01/36		71,441		73,193
5.500%, 12/01/37		82,177		84,185
5.500%, 04/01/38		27,556		28,259
5.500%, 07/01/38		46,158		47,335
6.000%, 11/01/28		828		832
6.000%, 12/01/28		879		886
6.000%, 04/01/29		551		561
6.000%, 06/01/31		837		861
6.000%, 07/01/31		149		154
6.000%, 09/01/31		26,570		27,311
6.000%, 11/01/32		5,495		5,696
6.000%, 11/01/35		21,810		22,718
6.000%, 02/01/36		35,217		36,689
6.000%, 08/01/36		15,140		15,837
6.000%, 01/01/37		20,060		20,984
6.500%, 02/01/30		2,717		2,808
6.500%, 08/01/31		2,064		2,140
6.500%, 11/01/31		4,201		4,357

Agency Sponsored Mortgage - Backed—(Continued)
Federal Home Loan Mortgage Corp.
6.500%, 03/01/32		83,146		86,664
6.500%, 04/01/32		47,605		49,629
6.500%, 11/01/37		24,224		25,720
6.500%, 04/01/53		875,774		894,376
7.000%, 12/01/27		208		211
7.000%, 11/01/28		311		318
7.000%, 04/01/29		701		729
7.000%, 05/01/29		170		177
7.000%, 07/01/29		90		94
7.000%, 01/01/31		26,770		27,960
7.500%, 10/01/27		1,454		1,481
7.500%, 10/01/29		2,277		2,384
7.500%, 05/01/30		3,664		3,796
8.000%, 02/01/27		438		445
8.000%, 10/01/28		725		743
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
2.519%, 07/25/29		2,250,000		2,032,411
2.785%, 06/25/29		1,800,000		1,650,337
3.194%, 07/25/27		685,000		654,267
3.780%, 10/25/28 (a)		4,000,000		3,851,655
3.920%, 09/25/28 (a)		2,900,000		2,812,524
3.926%, 07/25/28 (a)		2,500,000		2,427,118
Federal National Mortgage Association
1.500%, 04/01/36		1,402,913		1,219,592
1.500%, 05/01/36		1,428,774		1,241,744
1.500%, 09/01/36		1,534,602		1,332,296
1.500%, 11/01/36		2,377,779		2,063,215
1.500%, 03/01/51		3,291,709		2,489,074
1.500%, 04/01/51		4,168,250		3,151,429
1.500%, 10/01/51		881,776		666,097
2.000%, 11/01/35		5,422,207		4,828,033
2.000%, 12/01/35		1,156,640		1,029,582
2.000%, 09/01/36		3,672,448		3,261,503
2.000%, 12/01/36		2,341,037		2,077,178
2.000%, 02/01/37		791,322		701,704
2.000%, 02/01/41		2,153,494		1,817,726
2.000%, 06/01/41		1,968,141		1,659,455
2.000%, 10/01/50		9,113,136		7,273,807
2.000%, 11/01/50		7,180,419		5,738,114
2.000%, 12/01/50		3,657,742		2,917,219
2.000%, 01/01/51		8,990,079		7,167,214
2.000%, 02/01/51		3,799,390		3,027,830
2.000%, 04/01/51		3,186,116		2,535,096
2.000%, 05/01/51		4,064,113		3,232,430
2.000%, 06/01/51		2,479,527		1,971,345
2.000%, 09/01/51		4,266,841		3,388,372
2.000%, 10/01/51		3,450,846		2,739,305
2.000%, 11/01/51		1,742,790		1,382,897
2.000%, 12/01/51		4,399,229		3,489,407
2.500%, 12/01/27		467,033		450,072
2.500%, 02/01/28		451,789		434,918
2.500%, 07/01/28		298,921		285,796
2.500%, 10/01/28		525,039		502,434
2.500%, 03/01/30		582,610		551,625
2.500%, 09/01/31		1,054,674		991,414

BHFTII-154

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
2.500%, 01/01/32		332,509	$	312,661
2.500%, 04/01/32		791,324		739,108
2.500%, 09/01/32		187,967		175,209
2.500%, 12/01/34		640,561		586,584
2.500%, 09/01/35		628,584		575,219
2.500%, 02/01/41		1,575,575		1,378,989
2.500%, 01/01/50		903,681		757,782
2.500%, 03/01/50		834,517		697,913
2.500%, 05/01/50		2,012,655		1,681,949
2.500%, 07/01/50		3,267,981		2,728,980
2.500%, 08/01/50		5,867,461		4,897,898
2.500%, 09/01/50		4,753,245		3,966,325
2.500%, 11/01/50		1,162,813		969,582
2.500%, 12/01/50		1,812,477		1,510,726
2.500%, 01/01/51		1,876,379		1,563,408
2.500%, 02/01/51		933,973		777,901
2.500%, 05/01/51		2,948,141		2,452,269
2.500%, 07/01/51		3,907,182		3,247,576
2.500%, 08/01/51		1,981,448		1,646,328
2.500%, 09/01/51		4,850,479		4,028,618
2.500%, 10/01/51		3,292,674		2,733,745
2.500%, 12/01/51		3,411,559		2,830,332
2.500%, 02/01/52		3,947,381		3,272,417
2.500%, 03/01/52		883,733		732,038
3.000%, 01/01/27		118,881		115,040
3.000%, 02/01/27		209,878		202,951
3.000%, 03/01/27		106,461		103,398
3.000%, 01/01/29		823,750		794,374
3.000%, 10/01/29		362,226		347,769
3.000%, 06/01/30		458,933		439,079
3.000%, 02/01/33		434,271		409,333
3.000%, 08/01/35		538,437		500,844
3.000%, 01/01/36		673,857		632,357
3.000%, 05/01/36		623,843		578,318
3.000%, 08/01/42		658,548		590,481
3.000%, 09/01/42		541,774		486,076
3.000%, 11/01/42		829,861		744,292
3.000%, 12/01/42		553,869		496,711
3.000%, 01/01/43		410,058		367,724
3.000%, 03/01/43		829,588		743,605
3.000%, 07/01/43		832,429		745,970
3.000%, 09/01/43		485,693		435,247
3.000%, 05/01/45		1,169,388		1,033,270
3.000%, 05/01/46		647,104		571,619
3.000%, 06/01/46		894,374		790,045
3.000%, 08/01/46		957,822		846,092
3.000%, 02/01/47		1,343,688		1,186,946
3.000%, 11/01/49		599,014		522,991
3.000%, 12/01/49		1,082,427		945,052
3.000%, 01/01/50		1,128,145		984,967
3.000%, 02/01/50		549,719		479,952
3.000%, 07/01/50		838,175		730,207
3.000%, 08/01/50		2,260,261		1,968,408
3.000%, 11/01/51		2,352,054		2,035,271
3.000%, 04/01/52		2,676,956		2,310,138
3.000%, 05/01/52		2,274,293		1,960,603

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
3.000%, 06/01/52		3,211,176		2,768,014
3.500%, 02/01/26		120,098		117,497
3.500%, 03/01/26		75,689		74,040
3.500%, 05/01/29		376,124		364,820
3.500%, 04/01/32		330,999		317,577
3.500%, 08/01/32		137,966		132,585
3.500%, 03/01/34		207,601		198,430
3.500%, 09/01/35		485,177		460,392
3.500%, 07/01/38		357,332		336,651
3.500%, 12/01/40		385,648		356,607
3.500%, 03/01/42		367,953		340,662
3.500%, 05/01/42		669,377		619,343
3.500%, 06/01/42		467,087		432,173
3.500%, 08/01/42		290,123		268,437
3.500%, 09/01/42		1,256,232		1,162,226
3.500%, 01/01/43		476,731		441,097
3.500%, 06/01/43		569,166		526,892
3.500%, 08/01/44		600,887		552,134
3.500%, 02/01/45		679,571		624,434
3.500%, 03/01/45		734,325		672,633
3.500%, 04/01/45		421,814		386,376
3.500%, 09/01/45		577,370		528,864
3.500%, 11/01/45		588,421		538,987
3.500%, 01/01/46		717,263		657,005
3.500%, 03/01/46		664,474		607,096
3.500%, 05/01/46		474,728		433,734
3.500%, 11/01/47		1,105,936		1,008,054
3.500%, 02/01/49		218,139		198,678
3.500%, 08/01/49		253,906		230,143
3.500%, 10/01/49		529,664		480,093
3.500%, 01/01/50		349,380		316,682
3.500%, 02/01/50		173,124		156,921
3.500%, 05/01/50		799,858		725,041
3.500%, 04/01/52		2,682,170		2,405,541
3.500%, 06/01/52		908,310		814,489
3.500%, 09/01/53		1,726,609		1,546,193
4.000%, 06/01/24		1,138		1,132
4.000%, 11/01/24		21,868		21,656
4.000%, 02/01/31		139,156		135,751
4.000%, 03/01/38		329,684		316,940
4.000%, 08/01/39		239,684		229,131
4.000%, 09/01/39		211,017		201,726
4.000%, 12/01/39		255,330		244,087
4.000%, 06/01/40		272,439		260,369
4.000%, 09/01/40		166,974		159,576
4.000%, 12/01/40		1,354,933		1,294,971
4.000%, 01/01/41		609,240		582,248
4.000%, 12/01/41		260,521		248,673
4.000%, 02/01/42		351,998		335,989
4.000%, 09/01/43		477,308		453,377
4.000%, 05/01/44		488,667		463,032
4.000%, 10/01/44		271,032		256,815
4.000%, 11/01/44		678,100		642,682
4.000%, 01/01/45		594,801		563,637
4.000%, 03/01/45		388,368		367,636
4.000%, 10/01/45		557,551		527,787

BHFTII-155

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
4.000%, 03/01/47		165,769	$	156,263
4.000%, 05/01/47		176,359		166,246
4.000%, 06/01/47		265,544		250,317
4.000%, 07/01/47		287,468		270,984
4.000%, 10/01/47		428,483		403,913
4.000%, 05/01/48		480,632		452,261
4.000%, 06/01/48		409,611		385,433
4.000%, 07/01/48		304,739		286,751
4.000%, 09/01/48		147,015		138,337
4.000%, 10/01/48		228,983		215,467
4.000%, 11/01/48		284,643		267,841
4.000%, 04/01/49		477,983		449,240
4.000%, 02/01/50		494,411		464,679
4.000%, 03/01/50		541,754		509,176
4.000%, 09/01/50		403,488		378,388
4.000%, 09/01/52		3,677,129		3,407,937
4.000%, 11/01/52		1,408,677		1,305,552
4.500%, 08/01/24		4,943		4,910
4.500%, 06/01/25		27,341		27,023
4.500%, 08/01/30		79,818		78,739
4.500%, 08/01/33		42,152		41,542
4.500%, 10/01/33		50,011		49,288
4.500%, 04/01/34		45,310		44,691
4.500%, 01/01/39		7,948		7,807
4.500%, 07/01/39		382,636		375,780
4.500%, 09/01/39		464,514		456,177
4.500%, 10/01/39		268,038		263,227
4.500%, 05/01/40		378,621		371,520
4.500%, 08/01/40		416,665		408,846
4.500%, 11/01/40		235,211		230,798
4.500%, 12/01/40		525,030		515,187
4.500%, 04/01/41		1,401,501		1,374,215
4.500%, 05/01/41		277,501		271,984
4.500%, 03/01/44		197,950		193,458
4.500%, 08/01/47		410,976		398,853
4.500%, 10/01/48		200,161		193,591
4.500%, 12/01/48		268,097		259,296
4.500%, 09/01/52		2,727,385		2,602,053
4.500%, 10/01/52		1,830,657		1,746,021
4.500%, 11/01/52		3,242,357		3,091,549
4.500%, 10/01/53		1,466,677		1,397,163
5.000%, 09/01/25		8,189		8,109
5.000%, 07/01/33		33,171		33,226
5.000%, 08/01/33		140,756		140,988
5.000%, 09/01/33		44,494		44,568
5.000%, 10/01/33		438,797		439,514
5.000%, 03/01/34		55,939		56,032
5.000%, 04/01/34		108,578		108,757
5.000%, 05/01/34		22,103		22,139
5.000%, 09/01/34		89,533		89,681
5.000%, 02/01/35		36,738		36,799
5.000%, 04/01/35		11,490		11,512
5.000%, 05/01/35		12,981		13,005
5.000%, 11/01/35		37,715		37,784
5.000%, 03/01/36		127,666		127,902
5.000%, 07/01/37		102,305		102,749

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
5.000%, 01/01/39		98,754		99,183
5.000%, 04/01/40		302,502		303,494
5.000%, 07/01/41		188,540		189,263
5.000%, 04/01/49		326,586		324,275
5.000%, 10/01/52		1,785,224		1,745,424
5.000%, 11/01/52		1,366,898		1,335,894
5.000%, 12/01/52		3,681,881		3,603,480
5.000%, 07/01/53		3,355,012		3,274,882
5.000%, 08/01/53		1,924,378		1,878,416
5.000%, 10/01/53		1,463,285		1,428,419
5.000%, 04/01/54		1,500,000		1,465,049
5.500%, 07/01/24		1,198		1,192
5.500%, 07/01/25		8,720		8,658
5.500%, 10/01/32		9,099		9,251
5.500%, 02/01/33		22,072		22,441
5.500%, 08/01/33		61,051		62,094
5.500%, 10/01/33		31,194		31,723
5.500%, 12/01/33		159,136		161,826
5.500%, 02/01/34		27,275		27,808
5.500%, 03/01/34		13,032		13,288
5.500%, 04/01/34		11,320		11,543
5.500%, 09/01/34		47,719		48,657
5.500%, 12/01/34		32,976		33,624
5.500%, 01/01/35		33,033		33,682
5.500%, 04/01/35		7,074		7,238
5.500%, 06/01/35		37,468		38,339
5.500%, 01/01/37		42,809		43,802
5.500%, 05/01/37		33,024		33,774
5.500%, 05/01/38		25,600		26,219
5.500%, 06/01/38		22,869		23,423
5.500%, 12/01/52		1,809,588		1,803,416
5.500%, 01/01/53		1,808,985		1,802,311
5.500%, 03/01/53		912,104		907,466
5.500%, 04/01/53		919,355		914,680
5.500%, 05/01/53		1,865,522		1,856,036
5.500%, 07/01/53		3,776,537		3,757,333
5.500%, 10/01/53		1,737,920		1,729,083
5.500%, 01/01/54		1,967,846		1,957,840
5.500%, 02/01/54		1,486,876		1,479,315
6.000%, 11/01/28		120		120
6.000%, 12/01/28		155		156
6.000%, 06/01/31		19,965		20,498
6.000%, 09/01/32		20,513		21,241
6.000%, 01/01/33		4,185		4,334
6.000%, 02/01/33		27,858		28,854
6.000%, 03/01/33		9,061		9,384
6.000%, 04/01/33		56,146		58,149
6.000%, 05/01/33		58,886		60,997
6.000%, 05/01/34		50,697		52,507
6.000%, 09/01/34		49,801		51,578
6.000%, 01/01/35		27,200		28,171
6.000%, 07/01/36		8,774		9,167
6.000%, 09/01/36		33,146		34,632
6.000%, 07/01/37		24,445		25,540
6.000%, 08/01/37		56,721		59,263
6.000%, 10/01/37		37,151		38,816

BHFTII-156

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
6.000%, 12/01/38		34,189	$	35,727
6.000%, 04/01/53		2,706,679		2,731,486
6.000%, 05/01/53		916,248		924,645
6.000%, 07/01/53		1,855,155		1,872,158
6.000%, 09/01/53		1,707,901		1,723,554
6.000%, 12/01/53		1,933,670		1,951,392
6.000%, 02/01/54		1,476,816		1,490,351
6.000%, 03/01/54		994,264		1,003,532
6.500%, 05/01/28		5,753		5,811
6.500%, 12/01/28		31,434		31,638
6.500%, 03/01/29		794		818
6.500%, 04/01/29		5,439		5,604
6.500%, 05/01/29		182		188
6.500%, 08/01/29		291		300
6.500%, 05/01/30		7,560		7,808
6.500%, 09/01/31		2,543		2,633
6.500%, 06/01/32		5,110		5,320
6.500%, 10/01/33		9,466		9,912
6.500%, 10/01/34		69,305		72,594
6.500%, 10/01/37		11,853		12,570
6.500%, 09/01/53		1,387,274		1,416,741
6.500%, 01/01/54		2,783,288		2,842,409
6.500%, 02/01/54		4,263,822		4,355,303
6.500%, 04/01/54		1,000,000		1,022,243
7.000%, 06/01/26		74		74
7.000%, 06/01/28		3,200		3,214
7.000%, 10/01/29		1,442		1,497
7.000%, 06/01/32		17,995		18,934
7.000%, 10/01/37		47,932		52,008
7.000%, 12/01/53		942,016		970,350
7.500%, 09/01/25		304		305
7.500%, 06/01/26		404		407
7.500%, 07/01/29		1,519		1,559
7.500%, 10/01/29		1,057		1,077
8.000%, 11/01/29		18		19
8.000%, 05/01/30		9,919		10,264
8.000%, 11/01/30		296		306
8.000%, 01/01/31		362		370
8.000%, 02/01/31		1,043		1,104
Federal National Mortgage Association-ACES
1.610%, 03/25/31		705,840		660,819
2.190%, 01/25/30		1,435,000		1,255,494
Government National Mortgage Association
2.000%, 11/20/50		3,962,676		3,256,029
2.000%, 01/20/51		2,061,050		1,692,619
2.000%, 03/20/51		1,424,381		1,169,839
2.000%, 04/20/51		3,648,729		2,996,123
2.000%, 05/20/51		5,963,791		4,896,193
2.000%, 06/20/51		1,887,779		1,549,549
2.000%, 10/20/51		2,479,374		2,033,614
2.000%, 12/20/51		2,121,142		1,739,131
2.500%, 02/20/50		822,717		704,423
2.500%, 06/20/50		2,983,057		2,550,447
2.500%, 07/20/50		2,147,513		1,835,411
2.500%, 09/20/50		3,563,900		3,043,745
2.500%, 11/20/50		1,603,946		1,368,856

Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association
2.500%, 12/20/50		1,671,750		1,426,204
2.500%, 04/20/51		2,052,890		1,751,332
2.500%, 08/20/51		2,349,265		2,004,302
2.500%, 09/20/51		3,987,091		3,400,892
2.500%, 12/20/51		4,175,818		3,560,321
3.000%, 08/15/28		294,591		284,569
3.000%, 11/15/42		575,900		518,345
3.000%, 12/15/42		581,968		523,800
3.000%, 12/20/42		593,098		534,334
3.000%, 02/15/43		444,281		399,875
3.000%, 03/15/43		482,705		434,173
3.000%, 03/20/43		537,004		483,594
3.000%, 07/15/43		429,525		386,340
3.000%, 12/20/44		502,874		451,672
3.000%, 04/20/45		452,072		405,121
3.000%, 08/20/45		820,208		735,024
3.000%, 11/20/45		440,003		394,306
3.000%, 01/20/46		715,211		640,932
3.000%, 09/20/46		780,917		699,772
3.000%, 10/20/46		801,287		719,193
3.000%, 11/20/46		843,486		755,839
3.000%, 01/20/47		872,532		781,867
3.000%, 04/20/47		385,682		345,314
3.000%, 02/20/48		553,806		495,841
3.000%, 10/20/49		605,319		539,014
3.000%, 05/20/50		1,264,213		1,123,425
3.000%, 07/20/50		812,364		721,494
3.000%, 11/20/50		1,761,891		1,563,935
3.000%, 05/20/52		5,503,349		4,857,957
3.500%, 12/20/41		344,423		321,031
3.500%, 02/15/42		135,915		126,385
3.500%, 08/20/42		318,250		296,399
3.500%, 01/20/43		451,141		420,166
3.500%, 05/20/43		694,216		645,278
3.500%, 07/20/44		658,169		611,390
3.500%, 02/20/45		676,078		628,026
3.500%, 06/20/45		421,989		391,390
3.500%, 08/20/45		997,958		925,595
3.500%, 10/20/45		662,115		614,104
3.500%, 12/20/45		614,908		570,320
3.500%, 01/20/46		582,170		539,956
3.500%, 02/20/46		473,834		439,476
3.500%, 06/20/46		520,247		480,599
3.500%, 02/20/47		826,665		763,665
3.500%, 03/20/47		695,287		639,907
3.500%, 09/20/47		287,123		264,253
3.500%, 10/20/48		136,513		125,599
3.500%, 05/20/49		248,202		228,095
3.500%, 07/20/49		273,383		251,236
3.500%, 09/20/49		731,156		671,923
3.500%, 10/20/49		454,792		417,948
3.500%, 11/20/49		634,195		582,817
3.500%, 12/20/49		412,079		378,695
3.500%, 06/20/50		591,508		541,746
3.500%, 02/20/51		977,935		898,709
4.000%, 07/15/39		355,953		341,962

BHFTII-157

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed —(Continued)
Government National Mortgage Association
4.000%, 07/15/40		202,377	$	194,435
4.000%, 11/20/40		296,271		284,561
4.000%, 12/20/40		399,893		384,088
4.000%, 11/20/43		197,920		189,849
4.000%, 04/20/44		280,244		267,899
4.000%, 05/20/44		334,321		319,595
4.000%, 09/20/44		555,838		531,354
4.000%, 11/20/44		146,165		139,727
4.000%, 10/20/45		510,010		486,974
4.000%, 11/20/45		275,249		262,817
4.000%, 03/20/47		105,475		100,224
4.000%, 04/20/47		419,826		398,459
4.000%, 09/20/47		383,414		363,899
4.000%, 07/20/48		266,958		253,072
4.000%, 08/20/48		191,695		181,724
4.000%, 09/20/48		346,923		328,878
4.000%, 07/20/49		354,050		335,398
4.000%, 05/20/50		509,574		482,728
4.000%, 07/20/52		2,286,026		2,140,381
4.000%, 10/20/52		1,400,877		1,311,626
4.500%, 01/15/39		75,525		74,608
4.500%, 04/15/39		183,323		181,130
4.500%, 05/15/39		404,015		399,181
4.500%, 08/15/39		147,560		145,795
4.500%, 01/15/40		162,602		160,656
4.500%, 04/15/40		70,071		69,253
4.500%, 08/20/40		239,393		236,583
4.500%, 12/20/40		184,590		182,423
4.500%, 02/15/41		49,250		48,676
4.500%, 04/15/41		56,680		55,988
4.500%, 04/20/41		136,214		134,708
4.500%, 03/20/42		145,453		143,844
4.500%, 10/20/43		173,222		170,223
4.500%, 03/20/47		264,505		259,475
4.500%, 03/20/49		180,593		175,731
4.500%, 08/20/52		2,284,958		2,197,260
4.500%, 10/20/52		2,788,518		2,681,493
5.000%, 12/15/35		69,902		70,624
5.000%, 12/15/36		16,390		16,413
5.000%, 01/15/39		197,263		199,113
5.000%, 02/15/39		33,957		34,287
5.000%, 08/15/39		219,680		221,102
5.000%, 09/15/39		35,787		36,018
5.000%, 12/15/39		164,385		165,449
5.000%, 05/15/40		126,679		127,521
5.000%, 08/20/40		126,369		127,302
5.000%, 10/20/40		135,326		136,326
5.000%, 06/20/44		292,521		294,682
5.000%, 10/20/48		203,203		202,723
5.000%, 01/20/49		140,036		139,705
5.000%, 04/20/53		1,922,636		1,889,414
5.000%, 07/20/53		3,042,688		2,990,113
5.500%, 03/15/36		42,503		43,221
5.500%, 09/15/38		17,074		17,375
5.500%, 08/15/39		53,742		55,580
5.500%, 04/20/53		2,828,334		2,825,888

Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association
5.500%, 08/20/53		3,930,544		3,927,144
6.000%, 01/15/29		703		706
6.000%, 01/15/33		53,635		55,490
6.000%, 03/15/35		39,909		41,739
6.000%, 12/15/35		27,120		28,162
6.000%, 09/15/36		34,692		36,149
6.000%, 07/15/38		90,337		95,179
6.000%, 01/20/53		858,682		865,807
6.000%, 12/20/53		3,873,735		3,907,008
6.500%, 02/15/27		2,195		2,199
6.500%, 07/15/28		914		918
6.500%, 08/15/28		2,256		2,279
6.500%, 11/15/28		1,038		1,056
6.500%, 12/15/28		3,132		3,164
6.500%, 07/15/29		1,070		1,082
6.500%, 06/20/31		5,645		5,806
6.500%, 05/15/36		73,578		78,052
6.500%, 11/20/53		1,979,625		2,011,967
7.000%, 01/15/28		329		334
7.000%, 05/15/28		2,211		2,230
7.000%, 06/15/28		1,964		1,997
7.000%, 10/15/28		1,691		1,714
7.000%, 03/15/31		176		179
7.000%, 08/15/31		20,788		21,993
7.000%, 07/15/32		8,694		9,231
7.500%, 02/20/28		384		391
8.000%, 08/15/26		296		299
8.000%, 09/15/26		389		391

				506,713,760


Federal Agencies—1.0%
Federal Farm Credit Banks Funding Corp.
4.750%, 03/09/26		2,000,000		2,001,320
5.490%, 11/06/25		1,600,000		1,597,664
Federal Home Loan Banks
3.000%, 09/10/27		2,000,000		1,905,560
3.250%, 11/16/28 (b)		2,700,000		2,587,167
Federal Home Loan Mortgage Corp.
1.500%, 02/12/25		1,500,000		1,454,340
6.250%, 07/15/32 (b)		1,600,000		1,820,384
6.750%, 03/15/31		900,000		1,030,995
Federal National Mortgage Association
0.750%, 10/08/27		750,000		661,583
2.125%, 04/24/26 (b)		2,500,000		2,376,825
6.625%, 11/15/30 (b)		1,450,000		1,639,703
Tennessee Valley Authority
3.500%, 12/15/42		1,600,000		1,324,960

				18,400,501


U.S. Treasury—41.6%
U.S. Treasury Bonds
1.125%, 05/15/40 (b)		4,100,000		2,566,344
1.125%, 08/15/40 (b)		3,200,000		1,983,500
1.250%, 05/15/50 (b)		3,200,000		1,641,000
1.375%, 11/15/40 (b)		5,500,000		3,542,344

BHFTII-158

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

U.S. Treasury—(Continued)
U.S. Treasury Bonds
1.375%, 08/15/50		5,100,000	$	2,699,813
1.625%, 11/15/50		5,200,000		2,943,687
1.750%, 08/15/41		4,300,000		2,906,531
1.875%, 02/15/41		5,200,000		3,631,062
1.875%, 02/15/51 (b)		5,800,000		3,502,656
1.875%, 11/15/51		6,500,000		3,903,047
2.000%, 02/15/50		4,000,000		2,510,625
2.000%, 08/15/51 (b)		6,500,000		4,036,094
2.250%, 05/15/41		3,700,000		2,738,000
2.250%, 08/15/46 (b)		3,000,000		2,056,406
2.250%, 08/15/49		6,000,000		4,008,750
2.250%, 02/15/52		2,100,000		1,384,688
2.375%, 02/15/42		1,300,000		968,500
2.375%, 05/15/51		5,100,000		3,469,594
2.500%, 05/15/46		4,800,000		3,468,000
2.750%, 08/15/42		4,820,000		3,788,219
2.750%, 11/15/42		1,200,000		940,500
2.750%, 08/15/47 (b)		3,000,000		2,248,594
2.750%, 11/15/47		800,000		598,875
2.875%, 05/15/43		3,260,000		2,593,738
2.875%, 08/15/45 (b)		2,200,000		1,714,969
2.875%, 11/15/46 (b)		4,600,000		3,549,906
2.875%, 05/15/49		2,300,000		1,752,672
2.875%, 05/15/52		3,900,000		2,957,297
3.000%, 11/15/44 (b)		2,600,000		2,085,281
3.000%, 05/15/45		3,100,000		2,475,641
3.000%, 02/15/47 (b)		3,000,000		2,363,438
3.000%, 05/15/47 (b)		2,800,000		2,202,813
3.000%, 02/15/48		1,300,000		1,018,672
3.000%, 08/15/48		7,700,000		6,020,437
3.000%, 02/15/49		6,300,000		4,919,906
3.000%, 08/15/52		4,700,000		3,658,656
3.125%, 11/15/41		3,000,000		2,524,219
3.125%, 02/15/43		3,270,000		2,712,056
3.125%, 08/15/44		2,700,000		2,214,422
3.125%, 05/15/48		2,500,000		2,002,344
3.250%, 05/15/42		3,100,000		2,639,844
3.375%, 08/15/42		2,200,000		1,903,344
3.375%, 05/15/44		3,000,000		2,563,594
3.375%, 11/15/48		5,000,000		4,185,937
3.500%, 02/15/39		1,872,000		1,721,363
3.625%, 08/15/43		2,600,000		2,316,031
3.625%, 02/15/44		2,420,000		2,150,397
3.625%, 02/15/53 (b)		4,300,000		3,783,328
3.625%, 05/15/53		3,200,000		2,817,500
3.750%, 08/15/41		1,300,000		1,198,641
3.875%, 02/15/43		2,000,000		1,851,875
3.875%, 05/15/43		2,000,000		1,849,063
4.000%, 11/15/42 (b)		3,100,000		2,924,656
4.000%, 11/15/52		500,000		470,938
4.125%, 08/15/53 (b)		3,300,000		3,178,312
4.250%, 11/15/40		1,780,000		1,758,028
4.250%, 02/15/54		4,100,000		4,035,297
4.375%, 11/15/39		1,900,000		1,918,703
4.375%, 05/15/40		1,220,000		1,227,816
4.375%, 05/15/41		1,350,000		1,349,367

U.S. Treasury—(Continued)
U.S. Treasury Bonds
4.375%, 08/15/43		2,200,000		2,177,656
4.500%, 02/15/36		600,000		624,469
4.500%, 05/15/38		1,500,000		1,548,281
4.625%, 02/15/40		1,300,000		1,348,344
4.750%, 11/15/43		1,900,000		1,974,219
5.250%, 02/15/29		750,000		782,637
6.250%, 05/15/30		2,500,000		2,765,430
U.S. Treasury Notes
0.250%, 07/31/25		7,000,000		6,585,469
0.250%, 08/31/25		5,100,000		4,782,844
0.250%, 09/30/25		9,000,000		8,411,484
0.375%, 04/30/25		7,200,000		6,853,781
0.375%, 11/30/25		6,100,000		5,675,859
0.375%, 12/31/25		7,200,000		6,679,406
0.375%, 01/31/26		11,200,000		10,357,375
0.375%, 07/31/27		3,100,000		2,720,250
0.375%, 09/30/27		6,300,000		5,496,258
0.500%, 03/31/25 (b)		4,000,000		3,825,938
0.500%, 02/28/26		9,400,000		8,690,227
0.500%, 04/30/27		4,000,000		3,554,688
0.500%, 10/31/27		3,800,000		3,320,547
0.625%, 07/31/26 (b)		6,100,000		5,576,258
0.625%, 11/30/27 (b)		7,000,000		6,129,375
0.625%, 12/31/27		7,200,000		6,287,625
0.625%, 05/15/30		8,000,000		6,466,250
0.625%, 08/15/30		6,600,000		5,288,766
0.750%, 03/31/26		6,700,000		6,210,062
0.750%, 01/31/28		6,100,000		5,340,359
0.875%, 06/30/26		6,000,000		5,534,062
0.875%, 11/15/30 (b)		7,700,000		6,239,406
1.000%, 07/31/28 (b)		4,000,000		3,487,813
1.125%, 10/31/26		6,700,000		6,156,148
1.125%, 02/29/28		1,200,000		1,063,594
1.125%, 08/31/28		6,000,000		5,250,000
1.125%, 02/15/31 (b)		7,500,000		6,155,859
1.250%, 11/30/26		2,100,000		1,931,508
1.250%, 12/31/26		3,800,000		3,489,766
1.250%, 03/31/28		5,100,000		4,534,219
1.250%, 04/30/28		6,000,000		5,322,656
1.250%, 05/31/28		3,400,000		3,010,062
1.250%, 06/30/28		5,900,000		5,212,742
1.250%, 09/30/28		6,000,000		5,267,812
1.250%, 08/15/31		8,400,000		6,848,625
1.375%, 10/31/28		3,300,000		2,909,156
1.375%, 11/15/31		10,200,000		8,340,094
1.500%, 08/15/26		5,600,000		5,220,250
1.500%, 01/31/27 (b)		4,000,000		3,690,000
1.500%, 11/30/28		8,500,000		7,523,164
1.500%, 02/15/30 (b)		8,300,000		7,138,648
1.625%, 02/15/26		6,400,000		6,053,000
1.625%, 05/15/26		4,900,000		4,607,531
1.625%, 09/30/26		6,000,000		5,598,750
1.625%, 08/15/29 (b)		4,500,000		3,952,617
1.625%, 05/15/31		9,800,000		8,265,687
1.750%, 01/31/29		5,000,000		4,462,500
1.875%, 06/30/26		6,900,000		6,512,414

BHFTII-159

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

U.S. Treasury—(Continued)
U.S. Treasury Notes
1.875%, 02/28/27		8,700,000	$	8,099,156
1.875%, 02/28/29		2,100,000		1,882,781
1.875%, 02/15/32		11,200,000		9,469,250
2.000%, 08/15/25		5,100,000		4,909,348
2.000%, 11/15/26		7,300,000		6,855,156
2.125%, 05/15/25		5,500,000		5,330,918
2.125%, 05/31/26		6,800,000		6,457,875
2.250%, 11/15/25		5,400,000		5,188,219
2.250%, 02/15/27		4,300,000		4,049,727
2.250%, 08/15/27		6,100,000		5,697,781
2.250%, 11/15/27		2,600,000		2,419,625
2.375%, 05/15/27 (b)		8,000,000		7,531,250
2.375%, 05/15/29		6,800,000		6,225,719
2.500%, 02/28/26		6,700,000		6,437,496
2.500%, 03/31/27		5,100,000		4,831,055
2.625%, 04/15/25		3,000,000		2,928,164
2.625%, 05/31/27 (b)		4,000,000		3,792,500
2.625%, 02/15/29		8,300,000		7,716,406
2.750%, 04/30/27		7,200,000		6,860,250
2.750%, 02/15/28		6,000,000		5,667,187
2.750%, 05/31/29		9,500,000		8,855,781
2.750%, 08/15/32 (b)		8,700,000		7,812,328
2.875%, 04/30/25		8,400,000		8,214,281
2.875%, 07/31/25		6,600,000		6,430,617
2.875%, 05/15/28		5,900,000		5,587,023
2.875%, 08/15/28		6,000,000		5,669,531
2.875%, 05/15/32		10,500,000		9,543,516
3.125%, 08/15/25		6,100,000		5,962,035
3.125%, 11/15/28		8,000,000		7,624,375
3.125%, 08/31/29		5,300,000		5,020,922
3.250%, 06/30/27		4,200,000		4,058,250
3.375%, 05/15/33 (b)		7,300,000		6,846,031
3.500%, 01/31/28		4,000,000		3,885,000
3.500%, 01/31/30		8,200,000		7,895,703
3.500%, 02/15/33		6,500,000		6,161,797
3.625%, 03/31/30		5,200,000		5,037,906
3.875%, 04/30/25		9,200,000		9,091,828
3.875%, 01/15/26		5,000,000		4,929,687
3.875%, 11/30/27		4,000,000		3,937,813
3.875%, 12/31/27		500,000		492,227
3.875%, 09/30/29		4,900,000		4,816,930
3.875%, 08/15/33		5,100,000		4,970,906
4.000%, 12/15/25		6,000,000		5,927,344
4.000%, 06/30/28		3,000,000		2,968,125
4.000%, 10/31/29		5,000,000		4,944,141
4.000%, 07/31/30		7,300,000		7,210,461
4.000%, 02/15/34 (b)		3,000,000		2,953,594
4.125%, 09/30/27		4,000,000		3,971,250
4.125%, 10/31/27 (b)		5,900,000		5,856,211
4.125%, 08/31/30		4,100,000		4,077,258
4.125%, 11/15/32		7,000,000		6,959,531
4.375%, 08/31/28		7,100,000		7,133,281
4.375%, 11/30/30		3,000,000		3,027,187
4.500%, 11/15/25		4,900,000		4,879,137
4.500%, 07/15/26		6,000,000		5,992,969

U.S. Treasury—(Continued)
U.S. Treasury Notes
4.500%, 11/15/33 (b)		3,800,000		3,888,469
4.625%, 09/15/26		6,000,000		6,015,469
4.625%, 10/15/26		4,000,000		4,012,813
4.625%, 11/15/26 (b)		8,000,000		8,029,375
4.625%, 09/30/28		5,800,000		5,887,453
4.875%, 10/31/30		4,800,000		4,978,500
5.000%, 08/31/25		9,000,000		9,018,984
5.000%, 09/30/25		6,000,000		6,015,937

				786,341,109

Total U.S. Treasury & Government Agencies (Cost $1,480,911,197)			1,311,455,370


Corporate Bonds & Notes—26.6%

Aerospace/Defense—0.5%
Boeing Co.
5.150%, 05/01/30		2,300,000		2,224,905
5.930%, 05/01/60		1,100,000		1,031,547
7.250%, 06/15/25		460,000		468,561
Lockheed Martin Corp.
3.550%, 01/15/26 (b)		523,000		510,605
4.090%, 09/15/52		954,000		801,789
Northrop Grumman Corp.
3.250%, 01/15/28		1,100,000		1,039,720
Northrop Grumman Systems Corp.
7.750%, 02/15/31		515,000		594,974
RTX Corp.
3.125%, 05/04/27 (b)		1,000,000		947,130
4.500%, 06/01/42		1,645,000		1,469,166
7.500%, 09/15/29 (b)		200,000		222,954

				9,311,351


Agriculture—0.3%
Altria Group, Inc.
5.950%, 02/14/49 (b)		1,200,000		1,220,892
BAT Capital Corp.
4.390%, 08/15/37		1,300,000		1,093,690
Philip Morris International, Inc.
3.250%, 11/10/24		1,000,000		986,840
4.875%, 11/15/43 (b)		1,100,000		1,008,480
Reynolds American, Inc.
4.450%, 06/12/25		1,736,000		1,713,154

				6,023,056


Airlines—0.1%
Southwest Airlines Co.
5.125%, 06/15/27 (b)		1,000,000		998,570


Apparel—0.1%
NIKE, Inc.
2.750%, 03/27/27 (b)		1,000,000		947,300

BHFTII-160

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Auto Manufacturers—0.6%
American Honda Finance Corp.
2.250%, 01/12/29 (b)		1,000,000	$	892,340
2.300%, 09/09/26		300,000		281,838
Ford Motor Credit Co. LLC
6.800%, 05/12/28 (b)		2,500,000		2,596,225
General Motors Financial Co., Inc.
1.250%, 01/08/26 (b)		1,200,000		1,117,260
4.350%, 01/17/27 (b)		3,200,000		3,125,888
Mercedes-Benz Finance North America LLC
8.500%, 01/18/31		550,000		669,614
Toyota Motor Credit Corp.
3.375%, 04/01/30 (b)		2,600,000		2,403,024

				11,086,189


Banks—5.8%
Banco Santander SA
4.379%, 04/12/28 (b)		2,200,000		2,130,084
Bank of America Corp.
2.687%, SOFR + 1.320%, 04/22/32 (a) (b)		2,000,000		1,691,940
3.593%, 3M TSFR + 1.632%, 07/21/28 (a) (b)		3,200,000		3,043,072
5.015%, SOFR + 2.160%, 07/22/33 (a) (b)		3,100,000		3,053,066
5.288%, SOFR + 1.910%, 04/25/34 (a) (b)		4,400,000		4,374,480
5.875%, 02/07/42 (b)		1,500,000		1,603,845
Bank of Montreal
0.949%, SOFR + 0.603%, 01/22/27 (a) (b)		2,300,000		2,133,181
Bank of New York Mellon Corp.
3.442%, 3M TSFR + 1.331%, 02/07/28 (a) (b)		1,800,000		1,726,470
Bank of Nova Scotia
4.850%, 02/01/30 (b)		1,000,000		993,460
Barclays PLC
4.375%, 01/12/26 (b)		3,500,000		3,435,040
Canadian Imperial Bank of Commerce
2.250%, 01/28/25		1,000,000		974,210
Citigroup, Inc.
2.572%, SOFR + 2.107%, 06/03/31 (a)		2,500,000		2,136,350
3.200%, 10/21/26		1,700,000		1,619,114
4.412%, SOFR + 3.914%, 03/31/31 (a) (b)		2,900,000		2,766,629
4.650%, 07/23/48 (b)		1,300,000		1,177,033
Cooperatieve Rabobank UA
5.750%, 12/01/43 (b)		1,200,000		1,222,404
Deutsche Bank AG
2.129%, SOFR + 1.870%, 11/24/26 (a) (b)		2,000,000		1,886,820
Goldman Sachs Group, Inc.
3.210%, SOFR + 1.513%, 04/22/42 (a)		1,600,000		1,202,224
3.850%, 01/26/27 (b)		1,900,000		1,842,411
4.223%, 3M TSFR + 1.563%, 05/01/29 (a) (b)		1,900,000		1,829,168
6.125%, 02/15/33 (b)		2,075,000		2,238,925
HSBC Holdings PLC
3.973%, 3M TSFR + 1.872%, 05/22/30 (a) (b)		3,500,000		3,269,525
6.500%, 09/15/37		1,205,000		1,285,361
JPMorgan Chase & Co.
1.953%, SOFR + 1.065%, 02/04/32 (a)		2,100,000		1,711,206
2.522%, SOFR + 2.040%, 04/22/31 (a) (b)		2,000,000		1,729,580
2.950%, 10/01/26 (b)		2,000,000		1,907,060
3.882%, 3M TSFR + 1.622%, 07/24/38 (a)		1,000,000		863,520

Banks—(Continued)
JPMorgan Chase & Co.
3.900%, 07/15/25		4,700,000		4,625,082
3.964%, 3M TSFR + 1.642%, 11/15/48 (a)		2,400,000		1,965,360
KeyBank NA
3.300%, 06/01/25 (b)		800,000		774,544
Kreditanstalt fuer Wiederaufbau
0.625%, 01/22/26 (b)		1,100,000		1,022,175
1.750%, 09/14/29 (b)		2,000,000		1,753,120
3.750%, 02/15/28		2,000,000		1,952,960
Landwirtschaftliche Rentenbank
3.875%, 09/28/27		1,000,000		980,300
Lloyds Banking Group PLC
3.574%, 11/07/28 (b)		1,800,000		1,688,544
4.650%, 03/24/26		1,700,000		1,667,632
Mitsubishi UFJ Financial Group, Inc.
3.850%, 03/01/26 (b)		1,000,000		977,000
5.133%, 1Y H15 + 2.125%, 07/20/33 (a) (b)		2,000,000		2,000,540
Mizuho Financial Group, Inc.
4.018%, 03/05/28 (b)		1,800,000		1,739,322
Morgan Stanley
4.300%, 01/27/45 (b)		1,900,000		1,665,901
4.350%, 09/08/26 (b)		3,800,000		3,717,578
7.250%, 04/01/32		1,850,000		2,114,587
PNC Bank NA
2.950%, 02/23/25		2,100,000		2,053,506
Royal Bank of Canada
1.600%, 01/21/25 (b)		2,100,000		2,036,412
State Street Corp.
5.684%, SOFR + 1.484%, 11/21/29 (a) (b)		1,000,000		1,027,190
Sumitomo Mitsui Financial Group, Inc.
2.632%, 07/14/26 (b)		4,700,000		4,449,913
Toronto-Dominion Bank
3.766%, 06/06/25		1,000,000		982,540
Truist Financial Corp.
1.267%, SOFR + 0.609%, 03/02/27 (a) (b)		2,000,000		1,848,380
U.S. Bancorp
5.775%, SOFR + 2.020%, 06/12/29 (a) (b)		2,000,000		2,037,660
UBS Group AG
4.550%, 04/17/26		2,700,000		2,657,340
Wells Fargo & Co.
2.879%, 3M TSFR + 1.432%, 10/30/30 (a)		2,400,000		2,122,248
3.000%, 10/23/26 (b)		2,000,000		1,894,000
5.013%, 3M TSFR + 4.502%, 04/04/51 (a)		1,000,000		940,660
5.557%, SOFR + 1.990%, 07/25/34 (a)		1,500,000		1,507,590
5.606%, 01/15/44		2,200,000		2,170,564
Westpac Banking Corp.
2.668%, 5Y H15 + 1.750%, 11/15/35 (a)		1,700,000		1,403,112

				109,621,938


Beverages—0.5%
Anheuser-Busch InBev Worldwide, Inc.
4.439%, 10/06/48		1,165,000		1,035,510
5.550%, 01/23/49 (b)		1,900,000		1,983,771
Coca-Cola Co.
1.650%, 06/01/30 (b)		2,400,000		2,025,168
Diageo Capital PLC
2.375%, 10/24/29 (b)		1,400,000		1,237,530

BHFTII-161

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Beverages—(Continued)
Keurig Dr Pepper, Inc.
4.597%, 05/25/28 (b)		1,200,000	$	1,184,424
PepsiCo, Inc.
2.750%, 03/19/30		800,000		720,104
4.450%, 04/14/46		1,300,000		1,200,134

				9,386,641


Biotechnology—0.3%
Amgen, Inc.
2.000%, 01/15/32 (b)		1,600,000		1,295,936
4.663%, 06/15/51		1,000,000		885,460
5.650%, 03/02/53 (b)		2,000,000		2,040,280
Biogen, Inc.
4.050%, 09/15/25 (b)		300,000		294,441
Gilead Sciences, Inc.
3.650%, 03/01/26 (b)		2,000,000		1,948,320

				6,464,437


Building Materials—0.2%
Carrier Global Corp.
2.493%, 02/15/27 (b)		2,000,000		1,865,800
Trane Technologies Financing Ltd.
3.800%, 03/21/29 (b)		1,000,000		951,250

				2,817,050


Chemicals—0.4%
Celanese U.S. Holdings LLC
6.700%, 11/15/33		600,000		640,098
Dow Chemical Co.
4.375%, 11/15/42		1,000,000		854,260
9.400%, 05/15/39		650,000		877,065
DuPont de Nemours, Inc.
5.419%, 11/15/48 (b)		1,000,000		999,190
LyondellBasell Industries NV
4.625%, 02/26/55 (b)		1,400,000		1,167,852
Nutrien Ltd.
4.200%, 04/01/29 (b)		1,000,000		966,170
Sherwin-Williams Co.
3.450%, 06/01/27 (b)		1,800,000		1,720,980
Westlake Corp.
3.125%, 08/15/51		500,000		323,525

				7,549,140


Commercial Services—0.3%
Global Payments, Inc.
2.900%, 05/15/30 (b)		900,000		782,172
Massachusetts Institute of Technology
2.294%, 07/01/51		1,200,000		743,364
PayPal Holdings, Inc.
2.850%, 10/01/29 (b)		2,000,000		1,810,460
S&P Global, Inc.
2.300%, 08/15/60		800,000		438,192
Yale University
2.402%, 04/15/50		2,000,000		1,292,860

				5,067,048


Computers—0.6%
Apple, Inc.
2.550%, 08/20/60 (b)		1,000,000		626,480
2.650%, 02/08/51		1,500,000		988,110
3.350%, 08/08/32		2,300,000		2,110,986
Dell International LLC/EMC Corp.
5.300%, 10/01/29		1,800,000		1,822,608
Hewlett Packard Enterprise Co.
4.900%, 10/15/25 (b)		1,400,000		1,390,830
HP, Inc.
4.000%, 04/15/29 (b)		1,000,000		956,270
International Business Machines Corp.
3.300%, 05/15/26 (b)		1,900,000		1,833,690
4.000%, 06/20/42		1,200,000		1,013,496

				10,742,470


Cosmetics/Personal Care—0.2%
Estee Lauder Cos., Inc.
1.950%, 03/15/31 (b)		1,100,000		911,878
Kenvue, Inc.
5.050%, 03/22/53 (b)		400,000		391,544
Procter & Gamble Co.
3.550%, 03/25/40 (b)		900,000		773,334
Unilever Capital Corp.
2.900%, 05/05/27 (b)		1,500,000		1,422,495

				3,499,251


Diversified Financial Services—1.0%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
3.300%, 01/30/32 (b)		1,000,000		856,940
3.650%, 07/21/27		1,900,000		1,798,730
Air Lease Corp.
2.875%, 01/15/26 (b)		900,000		861,300
American Express Co.
3.300%, 05/03/27 (b)		3,000,000		2,853,450
BlackRock, Inc.
4.750%, 05/25/33 (b)		1,000,000		995,100
Brookfield Capital Finance LLC
6.087%, 06/14/33 (b)		500,000		523,410
Capital One Financial Corp.
3.800%, 01/31/28		1,800,000		1,712,736
Charles Schwab Corp.
4.625%, 03/22/30		900,000		894,123
5.643%, SOFR + 2.210%, 05/19/29 (a) (b)		500,000		507,415
Intercontinental Exchange, Inc.
3.000%, 06/15/50 (b)		1,000,000		676,650
3.750%, 12/01/25 (b)		1,000,000		978,020
Mastercard, Inc.
3.350%, 03/26/30 (b)		1,700,000		1,582,343
Nasdaq, Inc.
3.950%, 03/07/52		700,000		542,640
Nomura Holdings, Inc.
2.679%, 07/16/30 (b)		1,000,000		857,060
6.070%, 07/12/28 (b)		1,000,000		1,029,390
Visa, Inc.
1.100%, 02/15/31 (b)		3,100,000		2,473,428

				19,142,735

BHFTII-162

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Electric—2.1%
Appalachian Power Co.
3.700%, 05/01/50 (b)		900,000	$	639,468
CenterPoint Energy Houston Electric LLC
4.500%, 04/01/44		1,300,000		1,162,070
CMS Energy Corp.
4.750%, 5Y H15 + 4.116%, 06/01/50 (a) (b)		1,500,000		1,380,135
Commonwealth Edison Co.
3.000%, 03/01/50		900,000		601,065
Connecticut Light & Power Co.
4.000%, 04/01/48 (b)		1,000,000		819,090
Consolidated Edison Co. of New York, Inc.
3.950%, 03/01/43 (b)		2,070,000		1,718,969
Constellation Energy Generation LLC
5.600%, 03/01/28 (b)		1,000,000		1,019,220
Dominion Energy, Inc.
3.900%, 10/01/25		1,900,000		1,858,770
4.600%, 03/15/49		800,000		681,856
DTE Electric Co.
3.700%, 03/15/45 (b)		1,000,000		793,820
Duke Energy Carolinas LLC
3.550%, 03/15/52		1,000,000		729,570
5.300%, 02/15/40		2,000,000		1,975,220
Duke Energy Corp.
2.650%, 09/01/26 (b)		1,000,000		944,210
Entergy Louisiana LLC
4.000%, 03/15/33 (b)		1,000,000		918,940
Evergy, Inc.
2.900%, 09/15/29 (b)		500,000		446,655
Exelon Corp.
3.400%, 04/15/26 (b)		1,000,000		967,270
5.625%, 06/15/35		500,000		509,180
Florida Power & Light Co.
5.950%, 02/01/38		1,700,000		1,831,495
Georgia Power Co.
4.300%, 03/15/42		2,000,000		1,743,840
Louisville Gas & Electric Co.
4.250%, 04/01/49 (b)		800,000		668,808
MidAmerican Energy Co.
3.650%, 04/15/29 (b)		1,700,000		1,616,581
4.250%, 07/15/49		1,500,000		1,274,850
National Rural Utilities Cooperative Finance Corp.
2.400%, 03/15/30 (b)		1,800,000		1,559,682
NextEra Energy Capital Holdings, Inc.
5.550%, 03/15/54		1,000,000		994,300
Northern States Power Co.
6.250%, 06/01/36 (b)		1,200,000		1,302,084
Oncor Electric Delivery Co. LLC
3.100%, 09/15/49 (b)		900,000		624,573
Pacific Gas & Electric Co.
2.500%, 02/01/31		3,000,000		2,498,940
PG&E Wildfire Recovery Funding LLC
4.722%, 06/01/39		160,000		156,658
5.212%, 12/01/49		1,100,000		1,095,424
Public Service Electric & Gas Co.
1.900%, 08/15/31 (b)		1,600,000		1,303,328

Electric—(Continued)
Sempra
3.400%, 02/01/28 (b)		1,100,000		1,039,830
Southern California Edison Co.
3.650%, 03/01/28 (b)		900,000		857,214
4.000%, 04/01/47 (b)		1,000,000		792,540
Southwestern Electric Power Co.
4.100%, 09/15/28 (b)		1,800,000		1,724,958
Union Electric Co.
3.500%, 03/15/29 (b)		1,800,000		1,688,400

				39,939,013


Electrical Components & Equipment—0.0%
Emerson Electric Co.
2.200%, 12/21/31 (b)		500,000		419,170


Electronics—0.1%
Honeywell International, Inc. 2.500%, 11/01/26 (b)		1,800,000		1,701,054


Entertainment—0.0%
Warnermedia Holdings, Inc. 5.141%, 03/15/52 (b)		600,000		498,066


Environmental Control—0.1%
Waste Connections, Inc. 2.200%, 01/15/32 (b)		500,000		409,610
Waste Management, Inc. 3.150%, 11/15/27 (b)		1,800,000		1,706,940

				2,116,550


Food—0.4%
Conagra Brands, Inc. 4.850%, 11/01/28 (b)		1,300,000		1,285,531
General Mills, Inc. 4.200%, 04/17/28 (b)		1,500,000		1,462,605
Kraft Heinz Foods Co. 5.000%, 07/15/35 (b)		1,600,000		1,578,112
Kroger Co. 2.200%, 05/01/30 (b)		1,000,000		850,700
Sysco Corp. 6.600%, 04/01/50 (b)		900,000		1,029,555
Tyson Foods, Inc. 3.550%, 06/02/27 (b)		1,200,000		1,145,592

				7,352,095


Forest Products & Paper—0.0%
International Paper Co. 4.400%, 08/15/47 (b)		800,000		672,400


Gas—0.1%
Atmos Energy Corp. 1.500%, 01/15/31 (b)		1,100,000		883,608
NiSource, Inc. 4.800%, 02/15/44		1,500,000		1,338,930

				2,222,538

BHFTII-163

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Hand/Machine Tools—0.1%
Stanley Black & Decker, Inc. 3.000%, 05/15/32		1,800,000	$	1,529,478


Healthcare-Products—0.4%
Abbott Laboratories 4.750%, 11/30/36 (b)		1,300,000		1,289,418
Boston Scientific Corp. 1.900%, 06/01/25		1,900,000		1,825,501
DH Europe Finance II SARL 3.250%, 11/15/39 (b)		900,000		727,902
GE HealthCare Technologies, Inc. 5.905%, 11/22/32		1,400,000		1,471,274
Medtronic, Inc. 4.625%, 03/15/45 (b)		933,000		875,826
Stryker Corp. 1.150%, 06/15/25		1,000,000		950,780

				7,140,701


Healthcare-Services—0.6%
Centene Corp. 2.500%, 03/01/31 (b)		300,000		247,077
CommonSpirit Health 3.910%, 10/01/50		500,000		391,335
Elevance Health, Inc. 5.850%, 01/15/36		1,800,000		1,887,156
HCA, Inc.
4.125%, 06/15/29		1,800,000		1,704,276
5.900%, 06/01/53 (b)		1,000,000		1,005,900
Humana, Inc. 4.875%, 04/01/30 (b)		800,000		790,248
Kaiser Foundation Hospitals 3.002%, 06/01/51 (b)		1,000,000		692,420
Laboratory Corp. of America Holdings 3.600%, 02/01/25 (b)		500,000		491,610
UnitedHealth Group, Inc.
3.500%, 08/15/39 (b)		900,000		742,554
3.750%, 07/15/25 (b)		1,600,000		1,573,296
4.250%, 06/15/48		1,000,000		864,120
4.950%, 05/15/62		1,300,000		1,217,359

				11,607,351


Home Builders—0.1%
Lennar Corp. 4.750%, 11/29/27 (b)		1,300,000		1,283,789


Household Products/Wares—0.1%
Kimberly-Clark Corp. 3.100%, 03/26/30 (b)		1,100,000		1,008,865


Insurance—0.7%
Allstate Corp. 1.450%, 12/15/30 (b)		1,100,000		871,684
American International Group, Inc. 3.400%, 06/30/30 (b)		800,000		733,072
Aon Corp./Aon Global Holdings PLC 5.350%, 02/28/33 (b)		1,000,000		1,006,420

Insurance—(Continued)
AXA SA 8.600%, 12/15/30		365,000		431,908
Berkshire Hathaway Finance Corp. 4.200%, 08/15/48		1,700,000		1,502,324
Berkshire Hathaway, Inc. 3.125%, 03/15/26		750,000		726,383
Chubb Corp. 6.000%, 05/11/37		865,000		938,542
Hartford Financial Services Group, Inc. 6.100%, 10/01/41		780,000		831,191
Lincoln National Corp. 4.350%, 03/01/48 (b)		600,000		472,998
Marsh & McLennan Cos., Inc. 3.750%, 03/14/26 (b)		1,000,000		977,530
Principal Financial Group, Inc. 3.100%, 11/15/26 (b)		1,000,000		952,850
Prudential Financial, Inc.
2.100%, 03/10/30 (b)		2,000,000		1,726,660
5.700%, 12/14/36 (b)		1,525,000		1,604,895
Travelers Cos., Inc. 3.050%, 06/08/51 (b)		800,000		557,696

				13,334,153


Internet—0.5%
Alibaba Group Holding Ltd. 4.200%, 12/06/47 (b)		1,400,000		1,150,982
Alphabet, Inc. 2.050%, 08/15/50		1,100,000		655,754
Amazon.com, Inc.
3.150%, 08/22/27 (b)		1,000,000		952,900
3.800%, 12/05/24 (b)		1,800,000		1,782,684
3.875%, 08/22/37 (b)		1,900,000		1,717,315
eBay, Inc. 3.600%, 06/05/27 (b)		1,500,000		1,441,500
Meta Platforms, Inc. 4.950%, 05/15/33 (b)		1,500,000		1,518,900

				9,220,035


Investment Companies—0.1%
ARES Capital Corp. 4.250%, 03/01/25		900,000		884,916
Blue Owl Capital Corp. 3.400%, 07/15/26		400,000		377,024

				1,261,940


Iron/Steel—0.0%
Vale Overseas Ltd. 6.875%, 11/21/36 (b)		528,000		563,434

Lodging—0.1%
Marriott International, Inc. 2.850%, 04/15/31 (b)		1,100,000		947,958
Sands China Ltd. 5.400%, 08/08/28		1,000,000		980,710

				1,928,668

BHFTII-164

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Machinery-Construction & Mining—0.0%
Caterpillar, Inc. 3.803%, 08/15/42		700,000	$	590,380


Machinery-Diversified—0.1%
John Deere Capital Corp.
2.000%, 06/17/31 (b)		1,000,000		830,400
4.050%, 09/08/25		2,000,000		1,972,800

				2,803,200


Media—0.8%
Charter Communications Operating LLC/Charter Communications Operating Capital
3.850%, 04/01/61		3,300,000		1,960,530
6.484%, 10/23/45		900,000		834,975
Comcast Corp. 3.150%, 03/01/26 (b)	2,000,000		1,937,240
3.969%, 11/01/47		900,000		723,249
4.650%, 07/15/42		1,670,000		1,532,910
5.650%, 06/15/35		1,500,000		1,566,315
Discovery Communications LLC
3.950%, 03/20/28		1,100,000		1,041,392
4.000%, 09/15/55 (b)		1,481,000		1,012,574
Fox Corp. 5.576%, 01/25/49 (b)	1,000,000		933,050
Paramount Global 4.375%, 03/15/43	1,500,000		1,020,930
Time Warner Cable LLC 6.550%, 05/01/37	100,000		94,652
TWDC Enterprises 18 Corp. 2.950%, 06/15/27	1,000,000		951,470
Walt Disney Co.
3.600%, 01/13/51 (b)		1,000,000		775,470
6.550%, 03/15/33 (b)		950,000		1,069,567

				15,454,324


Mining—0.1%
Newmont Corp. 6.250%, 10/01/39		1,800,000		1,922,112
Rio Tinto Alcan, Inc. 6.125%, 12/15/33		751,000		806,424

				2,728,536


Miscellaneous Manufacturing—0.2%
3M Co. 4.000%, 09/14/48		900,000		722,439
GE Capital International Funding Co. Unlimited Co. 4.418%, 11/15/35 (b)		1,459,000		1,371,912
General Electric Co. 7.500%, 08/21/35		100,000		117,467
Parker-Hannifin Corp. 3.250%, 06/14/29 (b)		900,000		833,481

				3,045,299


Multi-National—1.3%
Asian Development Bank
1.500%, 03/04/31 (b)		2,000,000		1,665,240
1.750%, 09/19/29		900,000		787,392
4.125%, 01/12/34		3,100,000		3,044,355
Asian Infrastructure Investment Bank
0.500%, 05/28/25		1,000,000		948,690
0.500%, 01/27/26		50,000		46,298
European Bank for Reconstruction & Development 0.500%, 05/19/25		1,300,000		1,235,195
European Investment Bank
0.375%, 03/26/26 (b)		2,000,000		1,838,520
1.875%, 02/10/25		1,000,000		972,820
3.625%, 07/15/30		1,000,000		962,850
4.875%, 02/15/36		1,100,000		1,146,090
Inter-American Development Bank
2.125%, 01/15/25 (b)		2,000,000		1,952,880
2.250%, 06/18/29		1,400,000		1,264,900
2.375%, 07/07/27		1,500,000		1,404,600
7.000%, 06/15/25		200,000		203,940
International Bank for Reconstruction & Development
0.500%, 10/28/25		2,000,000		1,869,220
1.625%, 11/03/31		2,600,000		2,150,226
2.500%, 07/29/25		2,000,000		1,937,540
3.125%, 06/15/27		1,100,000		1,056,451
3.875%, 02/14/30		1,000,000		975,690
International Finance Corp. 0.375%, 07/16/25		25,000		23,581

				25,486,478


Office/Business Equipment—0.1%
CDW LLC/CDW Finance Corp. 4.250%, 04/01/28 (b)		1,100,000		1,053,371


Oil & Gas—0.8%
BP Capital Markets America, Inc.
2.721%, 01/12/32 (b)		1,000,000		861,810
3.000%, 02/24/50		1,000,000		682,940
Canadian Natural Resources Ltd. 6.250%, 03/15/38 (b)		800,000		832,384
Chevron Corp. 2.954%, 05/16/26		1,500,000		1,445,010
ConocoPhillips Co.
5.300%, 05/15/53		1,000,000		996,350
6.950%, 04/15/29 (b)		700,000		769,419
Equinor ASA
3.250%, 11/10/24 (b)		1,100,000		1,085,139
3.625%, 04/06/40		600,000		501,048
Exxon Mobil Corp. 4.114%, 03/01/46		1,600,000		1,382,000
Marathon Oil Corp. 6.600%, 10/01/37 (b)		1,000,000		1,055,400
Marathon Petroleum Corp. 4.700%, 05/01/25 (b)		600,000		595,008
Occidental Petroleum Corp. 6.450%, 09/15/36 (b)		1,000,000		1,068,080

BHFTII-165

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Oil & Gas—(Continued)
Phillips 66 4.875%, 11/15/44 (b)		1,000,000	$	935,350
Shell International Finance BV
2.375%, 11/07/29 (b)		2,000,000		1,781,020
3.250%, 04/06/50 (b)		900,000		655,452
TotalEnergies Capital International SA 3.127%, 05/29/50 (b)		900,000		641,115
Valero Energy Corp. 3.400%, 09/15/26 (b)		200,000		192,540

				15,480,065


Oil & Gas Services—0.1%
Halliburton Co. 5.000%, 11/15/45 (b)		1,200,000		1,128,684


Packaging & Containers—0.0%
WRKCo, Inc. 3.000%, 06/15/33 (b)		600,000		508,098


Pharmaceuticals—1.6%
AbbVie, Inc.
3.800%, 03/15/25		400,000		394,344
4.050%, 11/21/39		1,300,000		1,157,065
4.400%, 11/06/42		1,100,000		998,657
5.400%, 03/15/54		1,500,000		1,543,710
AstraZeneca PLC 4.000%, 09/18/42		1,200,000		1,032,744
Becton Dickinson & Co. 4.669%, 06/06/47		2,000,000		1,795,800
Bristol-Myers Squibb Co.
3.400%, 07/26/29 (b)		1,000,000		939,910
3.700%, 03/15/52 (b)		1,300,000		999,661
5.550%, 02/22/54 (b)		1,500,000		1,544,790
Cardinal Health, Inc. 3.410%, 06/15/27 (b)		800,000		760,000
Cigna Group
2.375%, 03/15/31 (b)		1,500,000		1,263,750
4.500%, 02/25/26 (b)		1,200,000		1,186,116
6.125%, 11/15/41		313,000		334,923
CVS Health Corp.
4.300%, 03/25/28 (b)		544,000		531,118
4.780%, 03/25/38		1,500,000		1,387,110
5.050%, 03/25/48		1,500,000		1,361,205
5.125%, 07/20/45		900,000		830,466
GlaxoSmithKline Capital, Inc. 3.875%, 05/15/28 (b)		1,000,000		971,830
Johnson & Johnson
3.700%, 03/01/46		1,000,000		837,150
5.950%, 08/15/37 (b)		910,000		1,009,199
Merck & Co., Inc. 6.550%, 09/15/37		1,000,000		1,142,960
Merck Sharp & Dohme Corp. 5.950%, 12/01/28 (b)		300,000		316,269
Novartis Capital Corp. 2.200%, 08/14/30 (b)		1,900,000		1,648,611

Pharmaceuticals—(Continued)
Pfizer Investment Enterprises Pte. Ltd. 5.340%, 05/19/63		2,000,000		1,959,660
Pfizer, Inc. 3.600%, 09/15/28 (b)		2,100,000		2,014,488
Shire Acquisitions Investments Ireland DAC 3.200%, 09/23/26 (b)		2,000,000		1,911,880

				29,873,416


Pipelines—0.9%
El Paso Natural Gas Co. LLC 8.375%, 06/15/32		220,000		256,023
Enbridge Energy Partners LP 5.875%, 10/15/25		2,000,000		2,012,440
Energy Transfer LP 5.150%, 03/15/45 (b)		2,600,000		2,370,654
Enterprise Products Operating LLC
3.200%, 02/15/52		1,100,000		769,813
3.950%, 02/15/27 (b)		1,300,000		1,269,905
Kinder Morgan Energy Partners LP 6.500%, 02/01/37		2,000,000		2,093,180
MPLX LP 5.200%, 03/01/47		1,000,000		916,730
ONEOK, Inc. 3.100%, 03/15/30 (b)		1,100,000		983,290
Sabine Pass Liquefaction LLC 5.875%, 06/30/26		1,600,000		1,613,504
TransCanada PipeLines Ltd. 6.200%, 10/15/37		1,800,000		1,883,682
Western Midstream Operating LP 4.050%, 02/01/30 (b)		1,100,000		1,024,848
Williams Cos., Inc. 3.750%, 06/15/27 (b)		1,500,000		1,443,720

				16,637,789


Real Estate Investment Trusts—0.8%
Alexandria Real Estate Equities, Inc. 3.550%, 03/15/52		1,100,000		774,939
American Tower Corp. 5.900%, 11/15/33 (b)		900,000		932,796
AvalonBay Communities, Inc. 2.300%, 03/01/30 (b)		200,000		173,248
Boston Properties LP 3.200%, 01/15/25 (b)		1,400,000		1,370,768
Brixmor Operating Partnership LP 4.050%, 07/01/30 (b)		900,000		836,739
Crown Castle, Inc. 3.800%, 02/15/28		1,500,000		1,421,250
Digital Realty Trust LP 3.700%, 08/15/27 (b)		1,500,000		1,433,730
Equinix, Inc. 3.200%, 11/18/29 (b)		700,000		627,508
ERP Operating LP 3.000%, 07/01/29 (b)		1,000,000		910,130
Essex Portfolio LP 3.000%, 01/15/30 (b)		1,000,000		887,320

BHFTII-166

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Real Estate Investment Trusts—(Continued)
Healthpeak OP LLC 3.500%, 07/15/29		900,000	$	833,553
NNN REIT, Inc. 2.500%, 04/15/30 (b)		1,000,000		856,810
Prologis LP 3.375%, 12/15/27 (b)		500,000		474,925
Public Storage Operating Co. 3.094%, 09/15/27 (b)		500,000		472,895
Simon Property Group LP 3.300%, 01/15/26 (b)		1,800,000		1,741,266
Sun Communities Operating LP 5.700%, 01/15/33 (b)		700,000		694,400
Welltower OP LLC 4.000%, 06/01/25 (b)		750,000		737,325

				15,179,602


Retail—0.6%
Home Depot, Inc.
3.000%, 04/01/26 (b)		1,800,000		1,737,126
4.250%, 04/01/46		2,000,000		1,730,800
Lowe’s Cos., Inc.
4.250%, 04/01/52 (b)		1,100,000		902,088
5.625%, 04/15/53 (b)		1,000,000		1,008,950
McDonald’s Corp. 4.875%, 12/09/45		1,500,000		1,398,480
Starbucks Corp. 3.550%, 08/15/29 (b)		1,000,000		945,670
Target Corp. 2.650%, 09/15/30 (b)		1,400,000		1,239,742
Walmart, Inc.
3.900%, 09/09/25		1,000,000		985,780
4.050%, 06/29/48 (b)		900,000		782,784
5.250%, 09/01/35		935,000		981,657

				11,713,077


Semiconductors—0.5%
Broadcom, Inc.
3.137%, 11/15/35 (144A)		1,600,000		1,291,024
4.300%, 11/15/32 (b)		1,700,000		1,598,595
Intel Corp.
4.750%, 03/25/50 (b)		1,800,000		1,629,594
4.900%, 08/05/52 (b)		1,000,000		934,240
NVIDIA Corp. 2.850%, 04/01/30 (b)		1,100,000		999,207
QUALCOMM, Inc. 1.650%, 05/20/32 (b)		2,333,000		1,849,602
Texas Instruments, Inc. 2.250%, 09/04/29 (b)		1,000,000		886,280

				9,188,542


Software—0.7%
Fidelity National Information Services, Inc. 1.150%, 03/01/26 (b)		1,000,000		925,820
Fiserv, Inc. 5.625%, 08/21/33		1,500,000		1,532,955

Software—(Continued)
Microsoft Corp. 3.125%, 11/03/25 (b)		2,600,000		2,534,142
4.250%, 02/06/47 (b)		2,000,000		1,878,100
Oracle Corp.
2.875%, 03/25/31 (b)		3,000,000		2,610,420
2.950%, 11/15/24 (b)		1,300,000		1,279,408
2.950%, 04/01/30		1,200,000		1,068,504
3.850%, 04/01/60		2,100,000		1,496,544
Salesforce, Inc. 2.900%, 07/15/51		1,000,000		674,370

				14,000,263


Telecommunications—1.1%
America Movil SAB de CV 2.875%, 05/07/30		1,000,000		883,180
AT&T, Inc.
3.500%, 09/15/53 (b)		1,221,000		862,392
3.650%, 09/15/59		2,686,000		1,872,411
4.100%, 02/15/28 (b)		1,687,000		1,636,761
5.150%, 11/15/46 (b)		1,308,000		1,239,212
7.125%, 12/15/31		100,000		109,458
Cisco Systems, Inc. 5.500%, 01/15/40 (b)		1,000,000		1,050,240
Deutsche Telekom International Finance BV 8.750%, 06/15/30		300,000		354,864
Orange SA 5.500%, 02/06/44 (b)		500,000		503,975
Rogers Communications, Inc. 2.900%, 11/15/26 (b)		1,100,000		1,037,047
Sprint LLC 7.625%, 03/01/26 (b)		900,000		929,529
T-Mobile USA, Inc. 2.550%, 02/15/31 (b)		2,200,000		1,873,014
3.300%, 02/15/51		1,500,000		1,050,225
4.750%, 02/01/28 (b)		1,000,000		987,220
Telefonica Emisiones SA 4.103%, 03/08/27		900,000		875,646
Verizon Communications, Inc.
2.875%, 11/20/50		1,900,000		1,243,018
3.376%, 02/15/25 (b)		1,078,000		1,058,704
3.550%, 03/22/51 (b)		1,000,000		742,490
4.812%, 03/15/39 (b)		1,927,000		1,822,557
Vodafone Group PLC 6.150%, 02/27/37 (b)		1,000,000		1,069,220

				21,201,163


Transportation—0.5%
Burlington Northern Santa Fe LLC 4.150%, 04/01/45		1,900,000		1,622,448
Canadian National Railway Co. 4.450%, 01/20/49 (b)		400,000		361,200
Canadian Pacific Railway Co. 2.450%, 12/02/31 (b)		1,100,000		984,852
CSX Corp. 6.150%, 05/01/37		800,000		876,032

BHFTII-167

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Transportation—(Continued)
FedEx Corp. 4.550%, 04/01/46		1,000,000	$	863,440
Norfolk Southern Corp.
2.550%, 11/01/29 (b)		1,000,000		883,900
5.590%, 05/17/25		28,000		28,076
Union Pacific Corp.
2.891%, 04/06/36 (b)		1,200,000		980,196
3.250%, 02/05/50		1,300,000		949,156
United Parcel Service, Inc. 4.450%, 04/01/30 (b)		1,600,000		1,586,528

				9,135,828


Water—0.0%
American Water Capital Corp. 3.750%, 09/01/28 (b)		900,000		860,076

Total Corporate Bonds & Notes (Cost $558,389,299)				502,524,667


Foreign Government—1.4%

Regional Government—0.2%
Province of Alberta 1.000%, 05/20/25 (b)		1,500,000		1,432,275
Province of British Columbia 1.300%, 01/29/31 (b)		1,000,000		816,990
Province of Quebec 2.500%, 04/20/26		2,000,000		1,911,380

				4,160,645


Sovereign—1.2%
Canada Government International Bond 1.625%, 01/22/25		1,000,000		972,580
Chile Government International Bonds
3.100%, 01/22/61		1,200,000		757,044
3.500%, 01/25/50 (b)		1,000,000		731,050
Export-Import Bank of Korea 2.875%, 01/21/25		1,400,000		1,373,932
Indonesia Government International Bonds
3.050%, 03/12/51		1,100,000		777,843
3.850%, 10/15/30		700,000		654,857
Israel Government AID Bond 5.500%, 09/18/33 (b)		200,000		215,196
Israel Government International Bond 4.125%, 01/17/48		1,000,000		777,400
Japan Bank for International Cooperation 4.625%, 07/19/28 (b)		1,600,000		1,600,480
Mexico Government International Bonds
2.659%, 05/24/31		1,200,000		1,002,684
4.600%, 01/23/46		1,100,000		887,865
4.750%, 03/08/44		900,000		751,356
5.750%, 10/12/10 (b)		1,000,000		876,080
6.750%, 09/27/34 (b)		1,050,000		1,122,188
Panama Government International Bond 3.875%, 03/17/28		900,000		827,082

Sovereign—(Continued)
Peru Government International Bond 8.750%, 11/21/33		1,450,000		1,790,663
Philippines Government International Bonds
3.950%, 01/20/40		1,100,000		946,275
5.000%, 01/13/37		1,740,000		1,723,922
Republic of Italy Government International Bond 2.875%, 10/17/29		2,000,000		1,771,180
Republic of Poland Government International Bond 3.250%, 04/06/26 (b)		1,000,000		970,120
Svensk Exportkredit AB 0.625%, 05/14/25		1,000,000		950,770
Uruguay Government International Bond 4.375%, 10/27/27		900,000		891,801

				22,372,368

Total Foreign Government (Cost $29,428,795)				26,533,013


Mortgage-Backed Securities—0.8%

Commercial Mortgage-Backed Securities—0.8%
BANK
2.556%, 05/15/64		2,000,000		1,698,387
2.758%, 09/15/62		373,448		331,462
4.407%, 11/15/61 (a)		881,000		855,834
BANK5 6.260%, 04/15/56 (a)		1,000,000		1,036,711
BBCMS Mortgage Trust 3.662%, 04/15/55 (a)		2,230,000		2,016,098
Benchmark Mortgage Trust 3.666%, 01/15/51 (a)		915,000		863,862
BMO Mortgage Trust 5.598%, 03/15/57 (a)		1,500,000		1,559,540
CD Mortgage Trust 3.631%, 02/10/50		950,000		881,176
CFCRE Commercial Mortgage Trust 3.585%, 12/10/54		787,393		746,929
JPMBB Commercial Mortgage Securities Trust
3.598%, 11/15/48		400,000		383,003
3.801%, 08/15/48		445,564		432,504
Morgan Stanley Bank of America Merrill Lynch Trust
3.544%, 01/15/49		1,350,000		1,299,240
3.732%, 05/15/48		750,000		729,540
UBS Commercial Mortgage Trust 3.035%, 12/15/52		2,250,000		1,981,838

Total Mortgage-Backed Securities (Cost $16,282,903)				14,816,124


Municipals—0.6%
Chicago O’Hare International Airport 4.572%, 01/01/54		395,000		371,669
Los Angeles Unified School District, General Obligation Unlimited 6.758%, 07/01/34		660,000		728,237

BHFTII-168

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Municipals—(Continued)


Security Description	Principal Amount*		Value
Louisiana Local Government Environmental Facilities & Community Development Authority 5.198%, 12/01/39		1,000,000	$	1,014,062
Municipal Electric Authority of Georgia 6.637%, 04/01/57		1,902,000		2,190,844
New Jersey Turnpike Authority 7.414%, 01/01/40		1,000,000		1,192,544
New York City Municipal Water Finance Authority 5.440%, 06/15/43		300,000		299,406
Port Authority of New York & New Jersey 4.458%, 10/01/62		1,500,000		1,343,271
Regents of the University of California Medical Center Pooled Revenue 3.006%, 05/15/50		1,000,000		690,467
State of California, General Obligation Unlimited 7.300%, 10/01/39		1,200,000		1,411,481
State of Illinois, General Obligation Unlimited 5.100%, 06/01/33		1,230,000		1,221,047
Texas Natural Gas Securitization Finance Corp. 5.169%, 04/01/41		450,000		456,835

Total Municipals (Cost $11,979,097)				10,919,863


Asset-Backed Securities—0.4%

Asset-Backed - Automobile—0.1%
CarMax Auto Owner Trust 0.740%, 01/15/27		1,085,000		1,016,157
Santander Drive Auto Receivables Trust 5.930%, 07/17/28		2,000,000		2,023,494

				3,039,651


Asset-Backed - Credit Card—0.2%
Capital One Multi-Asset Execution Trust
2.060%, 08/15/28		1,865,000		1,744,132
4.420%, 05/15/28		2,000,000		1,976,416

				3,720,548


Asset-Backed - Other—0.1%
Verizon Master Trust 0.990%, 04/20/28		1,000,000		975,090

Total Asset-Backed Securities (Cost $7,937,324)				7,735,289


Short-Term Investment—0.5%

U.S. Treasury—0.5%
U.S. Treasury Bill 2.660%, 04/02/24 (c)		10,000,000		9,998,549

Total Short-Term Investments (Cost $9,998,543)				9,998,549

Securities Lending Reinvestments (d)—11.7%
Security Description	Principal Amount*		Value

Certificates of Deposit—2.6%
Bank of Nova Scotia
5.630%, SOFR + 0.300%, 03/13/25 (a)		2,000,000	$	1,999,972
5.640%, SOFR + 0.310%, 03/19/25 (a)		2,000,000		1,999,981
Barclays Bank PLC
5.650%, SOFR + 0.320%, 06/20/24 (a)		3,000,000		3,001,518
Credit Industriel et Commercial
Zero Coupon, 11/18/24		1,000,000		965,990
Mitsubishi UFJ Trust & Banking Corp.
Zero Coupon, 05/09/24		1,000,000		993,770
Zero Coupon, 05/14/24		1,000,000		993,030
Zero Coupon, 06/13/24		1,000,000		988,590
5.560%, SOFR + 0.240%, 07/11/24 (a)		1,000,000		999,988
MUFG Bank Ltd. (London)
Zero Coupon, 06/04/24		1,000,000		989,920
Zero Coupon, 06/10/24		1,000,000		989,040
5.510%, SOFR + 0.200%, 09/23/24 (a)		2,000,000		2,000,000
National Westminster Bank PLC
5.880%, 05/02/24		3,000,000		3,001,470
Nordea Bank Abp
5.450%, SOFR + 0.120%, 07/15/24 (a)		2,000,000		1,999,872
Oversea-Chinese Banking Corp. Ltd.
5.500%, SOFR + 0.170%, 09/16/24 (a)		2,000,000		1,999,872
Royal Bank of Canada
5.880%, FEDEFF PRV + 0.550%, 09/20/24 (a)		5,000,000		5,009,830
Skandinaviska Enskilda Banken AB
5.630%, SOFR + 0.300%, 02/06/25 (a)		1,000,000		1,000,054
SMBC Bank International PLC
Zero Coupon, 05/13/24		1,000,000		993,180
Sumitomo Mitsui Banking Corp.
5.560%, SOFR + 0.230%, 07/11/24 (a)		2,000,000		2,000,638
Sumitomo Mitsui Trust Bank Ltd.
Zero Coupon, 05/07/24		2,000,000		1,988,140
Svenska Handelsbanken AB
5.630%, SOFR + 0.300%, 02/06/25 (a)		1,000,000		1,000,251
5.680%, SOFR + 0.350%, 01/17/25 (a)		2,000,000		2,003,100
5.850%, SOFR + 0.520%, 04/19/24 (a)		6,000,000		6,001,518
Toronto-Dominion Bank
5.710%, SOFR + 0.380%, 01/08/25 (a)		3,000,000		2,999,964
Westpac Banking Corp.
5.880%, SOFR + 0.550%, 10/11/24 (a)		3,000,000		3,005,634

				48,925,322


Commercial Paper—0.4%
Ciesco LLC
5.340%, 04/01/24		2,000,000		1,998,792
ING U.S. Funding LLC
5.560%, SOFR + 0.230%, 11/20/24 (a)		1,000,000		999,996
5.810%, SOFR + 0.480%, 06/13/24 (a)		3,000,000		3,002,409
Old Line Funding LLC
5.440%, SOFR + 0.110%, 06/07/24 (a)		2,000,000		1,999,996

				8,001,193

BHFTII-169

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)


Security Description	Principal Amount*		Value

Repurchase Agreements—7.2%
Bank of Nova Scotia
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $16,807,630; collateralized by various Common Stock with an aggregate market value of $18,712,207.		16,800,000	$	16,800,000
Barclays Bank PLC
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $3,001,355; collateralized by various Common Stock with an aggregate market value of $3,342,868.		3,000,000		3,000,000
Repurchase Agreement dated 03/29/24 at 5.670%, due on 07/02/24 with a maturity value of $10,149,625; collateralized by various Common Stock with an aggregate market value of $11,140,379.		10,000,000		10,000,000
BNP Paribas Financial Markets
Repurchase Agreement dated 03/29/24 at 5.360%, due on 04/01/24 with a maturity value of $4,068,727; collateralized by U.S. Treasury Obligations with rates ranging from 0.000%—3.000%, maturity dates ranging from 05/15/38—02/15/51, and an aggregate market value of $4,158,123.		4,066,910		4,066,910
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/24 at 5.870%, due on 09/30/24 with a maturity value of $6,180,992; collateralized by various Common Stock with an aggregate market value of $6,600,002.		6,000,000		6,000,000
Deutsche Bank Securities, Inc.
Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $8,521,713; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24—05/15/50, and an aggregate market value of $8,688,310.		8,517,951		8,517,951
National Bank of Canada
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $41,043,449; collateralized by various Common Stock with an aggregate market value of $45,679,682.		41,000,000		41,000,000
Repurchase Agreement dated 03/29/24 at 5.470%, due on 04/01/24 with a maturity value of $1,000,456; collateralized by various Common Stock with an aggregate market value of $1,115,836.		1,000,000		1,000,000
NBC Global Finance Ltd.
Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $27,012,330; collateralized by various Common Stock with an aggregate market value of $30,118,840.		27,000,000		27,000,000
Royal Bank of Canada Toronto
Repurchase Agreement dated 03/29/24 at 5.590%, due on 05/03/24 with a maturity value of $8,043,478; collateralized by various Common Stock with an aggregate market value of $8,890,270.		8,000,000		8,000,000
Societe Generale
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $3,101,400; collateralized by various Common Stock with an aggregate market value of $3,450,695.		3,100,000		3,100,000

Repurchase Agreements—(Continued)
TD Prime Services LLC
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $8,273,735; collateralized by various Common Stock with an aggregate market value of $9,098,378.		8,270,000		8,270,000

				136,754,861


Time Deposits—0.4%
Banco Santander SA (NY)
5.310%, 04/01/24		2,000,000		2,000,000
DNB Bank ASA
5.280%, 04/01/24		2,000,000		2,000,000
DZ Bank AG (NY)
5.290%, 04/01/24		2,000,000		2,000,000
National Bank of Canada 5.390%, OBFR + 0.070%, 04/05/24 (a)		2,000,000		2,000,000

				8,000,000


Mutual Funds—1.1%
BlackRock Liquidity Funds FedFund, Institutional Shares 5.200% (e)		92,572		92,572
Dreyfus Treasury Obligations Cash Management Fund, Institutional Class 5.200% (e)		2,000,000		2,000,000
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (e)		2,000,000		2,000,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (e)		1,000,000		1,000,000
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 5.260% (e)		4,000,000		4,000,000
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.260% (e)		10,000,000		10,000,000
Western Asset Institutional Government Reserves Fund, Institutional Class 5.220% (e)		1,000,000		1,000,000

				20,092,572

Total Securities Lending Reinvestments (Cost $221,753,158)				221,773,948

Total Investments — 111.4% (Cost $2,336,680,316)				2,105,756,823
Other assets and liabilities (net) — (11.4)%				(215,616,954	)

Net Assets—100.0%			$	1,890,139,869


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. 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.

BHFTII-170

Brighthouse Funds Trust II

MetLife Aggregate Bond Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)


(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $272,835,059 and the collateral received consisted of cash in the amount of $221,668,174 and non-cash collateral with a value of $59,023,071. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)		The rate shown represents current yield to maturity.
(d)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(e)		The rate shown represents the annualized seven-day yield as of March 31, 2024.
(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 March 31, 2024, the market value of 144A securities was $1,291,024, which is 0.1% of net assets.

Glossary of Abbreviations

Index Abbreviations


(FEDEFF PRV)—		Effective Federal Funds Rate
(H15)—		U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(OBFR)—		U.S. Overnight Bank Funding Rate
(SOFR)—		Secured Overnight Financing Rate
(TSFR)—		Term Secured Overnight Financing Rate

Other Abbreviations


(ACES)—		Alternative Credit Enhancement Securities
(DAC)—		Designated Activity Company
(REIT)—		Real Estate Investment Trust

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—	$	1,311,455,370		$	—	$	1,311,455,370
Total Corporate Bonds & Notes*		—		502,524,667			—		502,524,667
Total Foreign Government*		—		26,533,013			—		26,533,013
Total Mortgage-Backed Securities*		—		14,816,124			—		14,816,124
Total Municipals*		—		10,919,863			—		10,919,863
Total Asset-Backed Securities*		—		7,735,289			—		7,735,289
Total Short-Term Investment*		—		9,998,549			—		9,998,549
Securities Lending Reinvestments
Certificates of Deposit		—		48,925,322			—		48,925,322
Commercial Paper		—		8,001,193			—		8,001,193
Repurchase Agreements		—		136,754,861			—		136,754,861
Time Deposits		—		8,000,000			—		8,000,000
Mutual Funds		20,092,572		—			—		20,092,572
Total Securities Lending Reinvestments		20,092,572		201,681,376			—		221,773,948
Total Investments	$	20,092,572	$	2,085,664,251		$	—	$	2,105,756,823

Collateral for Securities Loaned (Liability)	$	—	$	(221,668,174	)	$	—	$	(221,668,174	)


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-171

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—95.9% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—1.2%
BWX Technologies, Inc.		35,243	$	3,616,637
Curtiss-Wright Corp.		14,727		3,769,228
Hexcel Corp.		32,498		2,367,479
Woodward, Inc.		23,222		3,578,975

				13,332,319


Air Freight & Logistics—0.2%
GXO Logistics, Inc. (a) (b)		45,810		2,462,746


Automobile Components—1.3%
Adient PLC (a) (b)		35,139		1,156,776
Autoliv, Inc.		28,326		3,411,300
Fox Factory Holding Corp. (a)		16,321		849,835
Gentex Corp.		89,828		3,244,587
Goodyear Tire & Rubber Co. (a)		109,197		1,499,275
Lear Corp. (b)		21,964		3,182,144
Visteon Corp. (a) (b)		10,710		1,259,603

				14,603,520


Automobiles—0.4%
Harley-Davidson, Inc.		48,807		2,134,818
Thor Industries, Inc. (b)		20,535		2,409,577

				4,544,395


Banks—5.1%
Associated Banc-Corp.		57,281		1,232,114
Bank OZK (b)		40,520		1,842,039
Cadence Bank (b)		70,346		2,040,034
Columbia Banking System, Inc.		80,328		1,554,347
Commerce Bancshares, Inc. (b)		45,620		2,426,984
Cullen/Frost Bankers, Inc. (b)		24,725		2,783,293
East West Bancorp, Inc. (b)		54,273		4,293,537
First Financial Bankshares, Inc. (b)		49,462		1,622,848
First Horizon Corp.		215,188		3,313,895
FNB Corp. (b)		138,189		1,948,465
Glacier Bancorp, Inc. (b)		42,701		1,719,996
Hancock Whitney Corp.		33,177		1,527,469
Home BancShares, Inc. (b)		72,177		1,773,389
International Bancshares Corp.		20,553		1,153,846
New York Community Bancorp, Inc. (b)		278,075		895,402
Old National Bancorp (b)		112,704		1,962,177
Pinnacle Financial Partners, Inc.		29,290		2,515,425
Prosperity Bancshares, Inc. (b)		36,093		2,374,198
SouthState Corp. (b)		29,270		2,488,828
Synovus Financial Corp. (b)		56,319		2,256,139
Texas Capital Bancshares, Inc. (a) (b)		18,191		1,119,656
UMB Financial Corp.		16,821		1,463,259
United Bankshares, Inc.		51,841		1,855,389
Valley National Bancorp (b)		164,240		1,307,351
Webster Financial Corp.		66,247		3,363,360
Wintrust Financial Corp. (b)		23,583		2,461,829
Zions Bancorp NA		57,053		2,476,100

				55,771,369


Beverages—0.7%
Boston Beer Co., Inc. - Class A (a)		3,625		1,103,522
Celsius Holdings, Inc. (a)		57,101		4,734,815
Coca-Cola Consolidated, Inc.		1,805		1,527,770

				7,366,107


Biotechnology—1.8%
Arrowhead Pharmaceuticals, Inc. (a)		47,714		1,364,620
Cytokinetics, Inc. (a) (b)		37,761		2,647,424
Exelixis, Inc. (a)		116,763		2,770,786
Halozyme Therapeutics, Inc. (a) (b)		50,872		2,069,473
Neurocrine Biosciences, Inc. (a)		38,321		5,285,232
Roivant Sciences Ltd. (a)		130,032		1,370,537
United Therapeutics Corp. (a)		18,098		4,157,473

				19,665,545


Broadline Retail—0.4%
Macy’s, Inc.		105,548		2,109,905
Nordstrom, Inc.		37,509		760,307
Ollie’s Bargain Outlet Holdings, Inc. (a) (b)		23,719		1,887,321

				4,757,533


Building Products—3.5%
Advanced Drainage Systems, Inc. (b)		26,304		4,530,601
Carlisle Cos., Inc.		18,701		7,327,987
Fortune Brands Innovations, Inc.		48,560		4,111,575
Lennox International, Inc.		12,333		6,027,877
Owens Corning		34,227		5,709,064
Simpson Manufacturing Co., Inc.		16,434		3,371,928
Trex Co., Inc. (a)		41,821		4,171,645
UFP Industries, Inc.		23,805		2,928,253

				38,178,930


Capital Markets—2.8%
Affiliated Managers Group, Inc.		13,020		2,180,459
Carlyle Group, Inc. (b)		83,367		3,910,746
Evercore, Inc. - Class A (b)		13,348		2,570,691
Federated Hermes, Inc.		31,467		1,136,588
Houlihan Lokey, Inc. (b)		20,072		2,573,030
Interactive Brokers Group, Inc. - Class A		41,213		4,603,904
Janus Henderson Group PLC		51,037		1,678,607
Jefferies Financial Group, Inc.		65,295		2,879,510
Morningstar, Inc.		10,031		3,093,260
SEI Investments Co.		38,393		2,760,457
Stifel Financial Corp.		39,279		3,070,439

				30,457,691


Chemicals—2.3%
Arcadium Lithium PLC (a) (b)		397,065		1,711,350
Ashland, Inc.		19,292		1,878,462
Avient Corp.		35,107		1,523,644
Axalta Coating Systems Ltd. (a)		84,756		2,914,759
Cabot Corp. (b)		21,347		1,968,193
Chemours Co.		57,165		1,501,153
NewMarket Corp.		2,660		1,688,089

BHFTII-172

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Chemicals—(Continued)
Olin Corp.		46,290	$	2,721,852
RPM International, Inc.		49,630		5,903,488
Scotts Miracle-Gro Co. (b)		16,156		1,205,076
Westlake Corp.		12,337		1,885,094

				24,901,160


Commercial Services & Supplies—1.3%
Brink’s Co.		17,349		1,602,701
Clean Harbors, Inc. (a)		19,371		3,899,576
MSA Safety, Inc.		14,231		2,754,979
Stericycle, Inc. (a) (b)		35,631		1,879,535
Tetra Tech, Inc.		20,591		3,803,364

				13,940,155


Communications Equipment—0.4%
Ciena Corp. (a) (b)		55,844		2,761,486
Lumentum Holdings, Inc. (a) (b)		25,956		1,229,016

				3,990,502


Construction & Engineering—2.2%
AECOM		52,384		5,137,823
Comfort Systems USA, Inc.		13,714		4,357,075
EMCOR Group, Inc.		18,117		6,344,573
Fluor Corp. (a) (b)		65,613		2,774,118
MasTec, Inc. (a) (b)		23,278		2,170,673
MDU Resources Group, Inc.		78,423		1,976,260
Valmont Industries, Inc. (b)		8,046		1,836,741

				24,597,263


Construction Materials—0.5%
Eagle Materials, Inc. (b)		13,267		3,605,307
Knife River Corp. (a)		21,784		1,766,247

				5,371,554


Consumer Finance—0.7%
Ally Financial, Inc. (b)		104,545		4,243,481
FirstCash Holdings, Inc.		14,245		1,816,807
SLM Corp.		84,840		1,848,664

				7,908,952


Consumer Staples Distribution & Retail—1.9%
BJ’s Wholesale Club Holdings, Inc. (a)		51,366		3,885,838
Casey’s General Stores, Inc. (b)		14,291		4,550,969
Grocery Outlet Holding Corp. (a) (b)		38,229		1,100,231
Performance Food Group Co. (a)		59,918		4,472,279
Sprouts Farmers Market, Inc. (a) (b)		39,112		2,521,942
U.S. Foods Holding Corp. (a)		87,105		4,701,057

				21,232,316


Containers & Packaging—1.6%
AptarGroup, Inc.		25,424		3,658,259
Berry Global Group, Inc. (b)		44,634		2,699,464
Crown Holdings, Inc.		46,098		3,653,728
Graphic Packaging Holding Co. (b)		117,864		3,439,272

Containers & Packaging—(Continued)
Greif, Inc. - Class A		9,810		677,381
Silgan Holdings, Inc.		31,170		1,513,615
Sonoco Products Co.		37,723		2,181,898

				17,823,617


Diversified Consumer Services—0.9%
Graham Holdings Co. - Class B		1,379		1,058,631
Grand Canyon Education, Inc. (a)		11,383		1,550,478
H&R Block, Inc.		53,731		2,638,729
Service Corp. International		56,898		4,222,401

				9,470,239


Diversified REITs—0.4%
WP Carey, Inc. (b)		84,213		4,752,982


Diversified Telecommunication Services—0.3%
Frontier Communications Parent, Inc. (a) (b)		85,190		2,087,155
Iridium Communications, Inc.		47,696		1,247,727

				3,334,882


Electric Utilities—0.8%
ALLETE, Inc. (b)		22,135		1,320,131
IDACORP, Inc. (b)		19,492		1,810,612
OGE Energy Corp.		77,132		2,645,628
PNM Resources, Inc.		33,056		1,244,228
Portland General Electric Co. (b)		38,943		1,635,606

				8,656,205


Electrical Equipment—1.5%
Acuity Brands, Inc.		11,753		3,158,384
EnerSys		15,564		1,470,175
nVent Electric PLC		63,894		4,817,608
Regal Rexnord Corp.		25,533		4,598,493
Sensata Technologies Holding PLC		58,288		2,141,501

				16,186,161


Electronic Equipment, Instruments & Components—2.3%
Arrow Electronics, Inc. (a)		20,723		2,682,799
Avnet, Inc.		34,800		1,725,384
Belden, Inc.		16,052		1,486,576
Cognex Corp. (b)		66,293		2,812,149
Coherent Corp. (a)		50,864		3,083,375
Crane NXT Co.		18,592		1,150,845
IPG Photonics Corp. (a) (b)		11,384		1,032,415
Littelfuse, Inc.		9,591		2,324,379
Novanta, Inc. (a)		13,791		2,410,253
TD SYNNEX Corp.		21,968		2,484,581
Vishay Intertechnology, Inc. (b)		48,616		1,102,611
Vontier Corp.		59,433		2,695,881

				24,991,248


Energy Equipment & Services—1.0%
ChampionX Corp. (b)		73,594		2,641,289
NOV, Inc. (b)		151,705		2,961,281

BHFTII-173

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Energy Equipment & Services—(Continued)
Valaris Ltd. (a) (b)		24,142	$	1,816,927
Weatherford International PLC (a)		27,850		3,214,447

				10,633,944


Entertainment—0.2%
TKO Group Holdings, Inc.		23,070		1,993,479


Financial Services—1.8%
Equitable Holdings, Inc.		120,837		4,593,014
Essent Group Ltd.		41,051		2,442,945
Euronet Worldwide, Inc. (a)		16,874		1,854,959
MGIC Investment Corp.		104,940		2,346,459
Voya Financial, Inc.		39,666		2,932,111
Western Union Co.		134,981		1,887,034
WEX, Inc. (a)		16,459		3,909,506

				19,966,028


Food Products—1.1%
Darling Ingredients, Inc. (a) (b)		61,437		2,857,435
Flowers Foods, Inc.		73,987		1,757,191
Ingredion, Inc.		25,109		2,933,987
Lancaster Colony Corp.		7,842		1,628,234
Pilgrim’s Pride Corp. (a)		15,502		532,029
Post Holdings, Inc. (a)		19,396		2,061,407

				11,770,283


Gas Utilities—0.9%
National Fuel Gas Co. (b)		35,479		1,905,932
New Jersey Resources Corp.		37,857		1,624,444
ONE Gas, Inc. (b)		21,355		1,378,038
Southwest Gas Holdings, Inc.		23,136		1,761,344
Spire, Inc.		21,174		1,299,448
UGI Corp.		80,700		1,980,378

				9,949,584


Ground Transportation—2.0%
Avis Budget Group, Inc. (b)		7,114		871,180
Hertz Global Holdings, Inc. (a) (b)		50,536		395,697
Knight-Swift Transportation Holdings, Inc.		62,145		3,419,218
Landstar System, Inc.		13,843		2,668,377
Ryder System, Inc.		17,069		2,051,523
Saia, Inc. (a) (b) (c)		10,224		5,981,040
Werner Enterprises, Inc.		24,433		955,819
XPO, Inc. (a)		44,716		5,456,693

				21,799,547


Health Care Equipment & Supplies—2.1%
Enovis Corp. (a)		19,132		1,194,793
Envista Holdings Corp. (a)		66,046		1,412,064
Globus Medical, Inc. - Class A (a)		44,427		2,383,064
Haemonetics Corp. (a) (b)		19,558		1,669,275
Integra LifeSciences Holdings Corp. (a)		26,192		928,506
Lantheus Holdings, Inc. (a) (b)		26,375		1,641,580
LivaNova PLC (a)		20,746		1,160,531
Masimo Corp. (a) (b)		17,094		2,510,254

Health Care Equipment & Supplies—(Continued)
Neogen Corp. (a) (b)		75,879		1,197,371
Penumbra, Inc. (a)		14,864		3,317,348
QuidelOrtho Corp. (a)		19,042		912,874
Shockwave Medical, Inc. (a) (b)		14,210		4,627,202

				22,954,862


Health Care Providers & Services—2.0%
Acadia Healthcare Co., Inc. (a)		35,513		2,813,340
Amedisys, Inc. (a)		12,567		1,158,175
Chemed Corp. (b)		5,801		3,723,836
Encompass Health Corp.		38,604		3,187,918
HealthEquity, Inc. (a)		33,043		2,697,300
Option Care Health, Inc. (a)		68,215		2,287,931
Progyny, Inc. (a) (b)		32,109		1,224,958
R1 RCM, Inc. (a) (b)		75,895		977,528
Tenet Healthcare Corp. (a)		39,109		4,110,747

				22,181,733


Health Care REITs—0.6%
Healthcare Realty Trust, Inc. (b)		146,678		2,075,494
Omega Healthcare Investors, Inc.		94,460		2,991,548
Sabra Health Care REIT, Inc.		89,045		1,315,195

				6,382,237


Health Care Technology—0.1%
Doximity, Inc. - Class A (a) (b)		47,045		1,265,981


Hotel & Resort REITs—0.1%
Park Hotels & Resorts, Inc.		80,867		1,414,364


Hotels, Restaurants & Leisure—3.5%
Aramark (b)		101,074		3,286,926
Boyd Gaming Corp.		26,758		1,801,349
Choice Hotels International, Inc. (b)		9,518		1,202,599
Churchill Downs, Inc. (b)		26,142		3,235,072
Hilton Grand Vacations, Inc. (a)		27,446		1,295,726
Hyatt Hotels Corp. - Class A		17,030		2,718,329
Light & Wonder, Inc. (a)		34,678		3,540,277
Marriott Vacations Worldwide Corp. (b)		12,720		1,370,326
Penn Entertainment, Inc. (a) (b)		57,377		1,044,835
Planet Fitness, Inc. - Class A (a) (b)		32,903		2,060,715
Texas Roadhouse, Inc.		25,719		3,972,814
Travel & Leisure Co.		27,889		1,365,445
Vail Resorts, Inc. (b)		14,622		3,258,220
Wendy’s Co.		64,340		1,212,166
Wingstop, Inc.		11,328		4,150,579
Wyndham Hotels & Resorts, Inc.		31,949		2,452,086

				37,967,464


Household Durables—2.1%
Helen of Troy Ltd. (a) (b)		9,145		1,053,870
KB Home		28,301		2,005,975
Leggett & Platt, Inc.		51,373		983,793
Taylor Morrison Home Corp. (a)		41,379		2,572,532
Tempur Sealy International, Inc. (b)		66,344		3,769,666

BHFTII-174

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Household Durables—(Continued)
Toll Brothers, Inc.		40,163	$	5,195,887
TopBuild Corp. (a)		12,171		5,364,125
Whirlpool Corp. (b)		21,181		2,533,883

				23,479,731


Independent Power and Renewable Electricity Producers—1.0%
Ormat Technologies, Inc. (b)		20,686		1,369,206
Vistra Corp. (b)		129,435		9,015,148

				10,384,354


Industrial REITs—1.2%
EastGroup Properties, Inc.		18,370		3,302,375
First Industrial Realty Trust, Inc.		50,940		2,676,388
Rexford Industrial Realty, Inc. (b)		81,161		4,082,398
STAG Industrial, Inc. (b)		69,925		2,687,917

				12,749,078


Insurance—4.6%
American Financial Group, Inc.		25,123		3,428,787
Brighthouse Financial, Inc. (a) (d)		24,726		1,274,378
CNO Financial Group, Inc.		42,131		1,157,760
Erie Indemnity Co. - Class A (b)		9,606		3,857,481
Fidelity National Financial, Inc. (b)		99,570		5,287,167
First American Financial Corp.		39,736		2,425,883
Hanover Insurance Group, Inc.		13,787		1,877,376
Kemper Corp. (b)		23,285		1,441,807
Kinsale Capital Group, Inc. (b)		8,478		4,448,746
Old Republic International Corp.		100,418		3,084,841
Primerica, Inc. (b)		13,492		3,412,936
Reinsurance Group of America, Inc.		25,381		4,895,487
RenaissanceRe Holdings Ltd. (b)		20,293		4,769,464
RLI Corp.		15,467		2,296,386
Selective Insurance Group, Inc.		23,354		2,549,556
Unum Group		70,011		3,756,790

				49,964,845


Interactive Media & Services—0.3%
Ziff Davis, Inc. (a)		17,709		1,116,375
ZoomInfo Technologies, Inc. (a)		114,083		1,828,751

				2,945,126


IT Services—0.8%
GoDaddy, Inc. - Class A (a)		54,233		6,436,373
Kyndryl Holdings, Inc. (a)		88,615		1,928,262

				8,364,635


Leisure Products—0.8%
Brunswick Corp. (b)		26,500		2,557,780
Mattel, Inc. (a)		136,034		2,694,834
Polaris, Inc. (b)		20,443		2,046,753
YETI Holdings, Inc. (a) (b)		33,448		1,289,420

				8,588,787


Life Sciences Tools & Services—1.1%
Azenta, Inc. (a) (b)		21,475		1,294,513
Bruker Corp.		35,713		3,354,879
Medpace Holdings, Inc. (a)		8,981		3,629,671
Repligen Corp. (a) (b)		19,997		3,677,849
Sotera Health Co. (a)		47,890		575,159

				12,532,071


Machinery—4.7%
AGCO Corp.		23,935		2,944,484
Chart Industries, Inc. (a) (b)		16,171		2,663,687
Crane Co.		18,817		2,542,741
Donaldson Co., Inc.		46,265		3,455,070
Esab Corp.		21,818		2,412,416
Flowserve Corp.		50,530		2,308,210
Graco, Inc.		65,002		6,075,087
ITT, Inc. (b)		31,618		4,300,997
Lincoln Electric Holdings, Inc. (b)		22,029		5,627,088
Middleby Corp. (a) (b)		20,643		3,319,188
Oshkosh Corp.		25,192		3,141,694
RBC Bearings, Inc. (a) (b)		11,165		3,018,458
Terex Corp.		25,802		1,661,649
Timken Co. (b)		24,996		2,185,400
Toro Co. (b)		40,205		3,683,984
Watts Water Technologies, Inc. - Class A		10,540		2,240,277

				51,580,430


Marine Transportation—0.2%
Kirby Corp. (a)		22,760		2,169,483


Media—0.6%
Cable One, Inc. (b)		1,753		741,747
New York Times Co. - Class A		63,014		2,723,465
Nexstar Media Group, Inc. (b)		12,414		2,138,808
TEGNA, Inc. (b)		75,854		1,133,259

				6,737,279


Metals & Mining—2.2%
Alcoa Corp.		68,731		2,322,420
Cleveland-Cliffs, Inc. (a)		191,896		4,363,715
Commercial Metals Co.		44,822		2,634,189
MP Materials Corp. (a) (b)		55,467		793,178
Reliance, Inc.		22,133		7,396,406
Royal Gold, Inc. (b)		25,299		3,081,671
U.S. Steel Corp. (b)		86,160		3,513,605

				24,105,184


Mortgage Real Estate Investment Trusts—0.6%
Annaly Capital Management, Inc.		192,586		3,792,018
Starwood Property Trust, Inc. (b)		114,595		2,329,717

				6,121,735


Multi-Utilities—0.2%
Black Hills Corp.		26,184		1,429,647
Northwestern Energy Group, Inc. (b)		23,584		1,201,133

				2,630,780

BHFTII-175

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Office REITs—0.5%
COPT Defense Properties		43,211	$	1,044,410
Cousins Properties, Inc.		58,449		1,405,114
Kilroy Realty Corp.		41,117		1,497,892
Vornado Realty Trust (b)		61,567		1,771,283

				5,718,699


Oil, Gas & Consumable Fuels—4.2%
Antero Midstream Corp. (b)		131,167		1,844,208
Antero Resources Corp. (a)		108,798		3,155,142
Chesapeake Energy Corp. (b)		42,815		3,803,257
Chord Energy Corp.		15,897		2,833,481
Civitas Resources, Inc. (b)		33,047		2,508,598
CNX Resources Corp. (a) (b)		58,456		1,386,576
DT Midstream, Inc.		37,344		2,281,718
Equitrans Midstream Corp.		166,853		2,083,994
HF Sinclair Corp.		60,076		3,626,788
Matador Resources Co. (b)		42,668		2,848,942
Murphy Oil Corp.		55,866		2,553,076
Ovintiv, Inc.		97,309		5,050,337
PBF Energy, Inc. - Class A		41,884		2,411,262
Permian Resources Corp.		177,260		3,130,412
Range Resources Corp. (b)		92,929		3,199,546
Southwestern Energy Co. (a)		424,121		3,214,837

				45,932,174


Paper & Forest Products—0.2%
Louisiana-Pacific Corp.		24,717		2,074,003


Personal Care Products—0.8%
BellRing Brands, Inc. (a)		50,441		2,977,532
Coty, Inc. - Class A (a)		144,790		1,731,689
elf Beauty, Inc. (a)		21,377		4,190,533

				8,899,754


Pharmaceuticals—0.4%
Jazz Pharmaceuticals PLC (a)		24,245		2,919,583
Perrigo Co. PLC		52,184		1,679,803

				4,599,386


Professional Services—2.6%
ASGN, Inc. (a)		18,177		1,904,223
CACI International, Inc. - Class A (a)		8,583		3,251,498
Concentrix Corp. (b)		18,107		1,199,046
ExlService Holdings, Inc. (a) (b)		63,513		2,019,713
Exponent, Inc.		19,495		1,612,042
FTI Consulting, Inc. (a)		13,412		2,820,409
Genpact Ltd.		63,595		2,095,455
Insperity, Inc. (b)		13,642		1,495,300
KBR, Inc.		51,991		3,309,747
ManpowerGroup, Inc.		18,797		1,459,399
Maximus, Inc.		23,503		1,971,902
Paylocity Holding Corp. (a) (b)		16,704		2,870,749
Science Applications International Corp.		20,050		2,614,319

				28,623,802


Real Estate Management & Development—0.3%
Jones Lang LaSalle, Inc. (a)		18,321		3,574,244


Residential REITs—1.1%
American Homes 4 Rent - Class A		122,484		4,504,961
Apartment Income REIT Corp.		55,642		1,806,696
Equity LifeStyle Properties, Inc. (b)		71,794		4,623,534
Independence Realty Trust, Inc. (b)		86,430		1,394,116

				12,329,307


Retail REITs—0.9%
Agree Realty Corp. (b)		38,635		2,206,831
Brixmor Property Group, Inc.		115,762		2,714,619
Kite Realty Group Trust		84,488		1,831,700
NNN REIT, Inc.		70,273		3,003,468

				9,756,618


Semiconductors & Semiconductor Equipment—2.6%
Allegro MicroSystems, Inc. (a)		27,518		741,885
Amkor Technology, Inc.		39,752		1,281,604
Cirrus Logic, Inc. (a)		20,771		1,922,564
Lattice Semiconductor Corp. (a) (b)		53,156		4,158,394
MACOM Technology Solutions Holdings, Inc. (a)		21,093		2,017,335
MKS Instruments, Inc.		24,210		3,219,930
Onto Innovation, Inc. (a)		18,902		3,422,774
Power Integrations, Inc. (b)		21,896		1,566,659
Rambus, Inc. (a)		41,402		2,559,058
Silicon Laboratories, Inc. (a) (b)		12,284		1,765,456
Synaptics, Inc. (a)		15,136		1,476,668
Universal Display Corp.		16,779		2,826,423
Wolfspeed, Inc. (a) (b)		48,447		1,429,186

				28,387,936


Software—2.3%
Appfolio, Inc. - Class A (a)		7,874		1,942,831
Aspen Technology, Inc. (a) (b)		10,769		2,296,812
Blackbaud, Inc. (a) (b)		16,176		1,199,289
CommVault Systems, Inc. (a)		16,815		1,705,545
Dolby Laboratories, Inc. - Class A (b)		22,911		1,919,255
Dropbox, Inc. - Class A (a) (b)		98,658		2,397,389
Dynatrace, Inc. (a)		92,333		4,287,945
Manhattan Associates, Inc. (a) (b)		23,710		5,932,953
Qualys, Inc. (a) (b)		14,166		2,363,880
Teradata Corp. (a)		37,663		1,456,428

				25,502,327


Specialized REITs—1.7%
CubeSmart		86,596		3,915,871
EPR Properties (b)		29,010		1,231,475
Gaming & Leisure Properties, Inc.		102,830		4,737,378
Lamar Advertising Co. - Class A (b)		33,727		4,027,341
National Storage Affiliates Trust (b)		29,746		1,164,853
PotlatchDeltic Corp. (b)		30,564		1,437,119
Rayonier, Inc. (b)		52,535		1,746,264

				18,260,301

BHFTII-176

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Specialty Retail—4.1%
AutoNation, Inc. (a) (b)		9,989	$	1,653,979
Burlington Stores, Inc. (a)		24,624		5,717,447
Dick’s Sporting Goods, Inc. (b)		22,404		5,037,763
Five Below, Inc. (a) (b)		21,256		3,855,413
Floor & Decor Holdings, Inc. - Class A (a) (b)		41,041		5,319,734
GameStop Corp. - Class A (a) (b)		103,443		1,295,106
Gap, Inc.		82,830		2,281,966
Lithia Motors, Inc.		10,599		3,188,815
Murphy USA, Inc.		7,303		3,061,418
Penske Automotive Group, Inc. (b)		7,507		1,216,059
Restoration Hardware, Inc. (a) (b)		5,894		2,052,644
Valvoline, Inc. (a) (b)		49,929		2,225,336
Williams-Sonoma, Inc. (b)		24,703		7,843,944

				44,749,624


Technology Hardware, Storage & Peripherals—0.5%
Pure Storage, Inc. - Class A (a) (b)		114,383		5,946,772


Textiles, Apparel & Luxury Goods—1.4%
Capri Holdings Ltd. (a)		44,891		2,033,562
Carter’s, Inc. (b)		14,181		1,200,847
Columbia Sportswear Co. (b)		13,282		1,078,233
Crocs, Inc. (a)		23,325		3,354,135
PVH Corp.		22,967		3,229,390
Skechers USA, Inc. - Class A (a) (b)		51,449		3,151,766
Under Armour, Inc. - Class A (a) (b)		72,709		536,592
Under Armour, Inc. - Class C (a) (b)		73,489		524,712

				15,109,237


Trading Companies & Distributors—1.7%
Applied Industrial Technologies, Inc.		14,892		2,941,915
Core & Main, Inc. - Class A (a) (b)		65,692		3,760,867
GATX Corp. (b)		13,671		1,832,324
MSC Industrial Direct Co., Inc. - Class A		17,593		1,707,225
Watsco, Inc. (b)		12,045		5,203,079
WESCO International, Inc.		16,916		2,897,372

				18,342,782


Water Utilities—0.3%
Essential Utilities, Inc. (b)		96,830		3,587,551

Total Common Stocks (Cost $718,280,195)				1,050,324,932


Mutual Funds—2.4%

Investment Company Securities—2.4%
SPDR S&P MidCap 400 ETF Trust (b) (Cost $24,820,245)		46,500		25,872,600

Short-Term Investment—1.4%
Security Description	Principal Amount*		Value

U.S. Treasury—1.4%
U.S. Treasury Bill 2.661%, 04/02/24 (e)		15,850,000		15,847,701

Total Short-Term Investments (Cost $15,847,689)				15,847,701


Securities Lending Reinvestments (f)—16.2%

Certificates of Deposit—3.1%
Bank of America Corp. 5.560%, SOFR + 0.230%, 07/08/24 (g)		1,000,000		1,000,400
Bank of Montreal 5.630%, SOFR + 0.300%, 03/04/25 (g)		3,000,000		2,999,996
Bank of Nova Scotia 5.630%, SOFR + 0.300%, 03/13/25 (g)		2,000,000		1,999,972
Credit Industriel et Commercial Zero Coupon, 11/18/24		1,000,000		965,990
Mitsubishi UFJ Trust & Banking Corp.
Zero Coupon, 05/09/24		1,000,000		993,770
Zero Coupon, 05/14/24		1,000,000		993,030
Zero Coupon, 06/13/24		1,000,000		988,590
5.560%, SOFR + 0.240%, 07/11/24 (g)		1,000,000		999,988
Mizuho Bank Ltd. 5.730%, SOFR + 0.400%, 04/18/24 (g)		2,000,000		2,000,308
MUFG Bank Ltd. (London) 5.510%, SOFR + 0.200%, 09/23/24 (g)		2,000,000		2,000,000
Nordea Bank Abp 5.450%, SOFR + 0.120%, 07/15/24 (g)		2,000,000		1,999,872
Oversea-Chinese Banking Corp. Ltd.
5.450%, SOFR + 0.120%, 07/19/24 (g)		2,000,000		1,999,940
5.500%, SOFR + 0.170%, 09/16/24 (g)		2,000,000		1,999,872
Royal Bank of Canada 5.880%, FEDEFF PRV + 0.550%, 09/20/24 (g)		1,000,000		1,001,966
SMBC Bank International PLC
Zero Coupon, 05/07/24		5,000,000		4,970,350
Zero Coupon, 05/13/24		1,000,000		993,180
Standard Chartered Bank 5.720%, SOFR + 0.390%, 04/19/24 (g)		1,000,000		1,000,171
Sumitomo Mitsui Banking Corp. 5.560%, SOFR + 0.230%, 07/11/24 (g)		1,000,000		1,000,319
Sumitomo Mitsui Trust Bank Ltd. 5.730%, SOFR + 0.400%, 04/24/24 (g)		2,000,000		2,000,432
Westpac Banking Corp. 5.880%, SOFR + 0.550%, 10/11/24 (g)		2,000,000		2,003,756

				33,911,902


Commercial Paper—0.6%
Australia & New Zealand Banking Group Ltd.
5.640%, 04/18/24		1,000,000		996,837
5.660%, SOFR + 0.330%, 04/18/24 (g)		1,000,000		1,000,098
Ciesco LLC 5.340%, 04/01/24		2,000,000		1,998,792
ING U.S. Funding LLC 5.560%, SOFR + 0.230%, 11/20/24 (g)		3,000,000		2,999,988

				6,995,715

BHFTII-177

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)


Security Description	Principal Amount*		Value

Repurchase Agreements—10.2%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $10,204,633; collateralized by various Common Stock with an aggregate market value of $11,360,982.		10,200,000	$	10,200,000
Barclays Bank PLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $600,271; collateralized by various Common Stock with an aggregate market value of $668,574.		600,000		600,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/24 at 5.870%, due on 09/30/24 with a maturity value of $3,090,496; collateralized by various Common Stock with an aggregate market value of $3,300,001.		3,000,000		3,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $11,632,790; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $11,860,207.		11,627,654		11,627,654
National Bank of Canada
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $17,018,015; collateralized by various Common Stock with an aggregate market value of $18,948,757.		17,000,000		17,000,000
Repurchase Agreement dated 03/29/24 at 5.470%, due on 04/01/24 with a maturity value of $3,001,368; collateralized by various Common Stock with an aggregate market value of $3,347,508.		3,000,000		3,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $31,914,568; collateralized by various Common Stock with an aggregate market value of $35,584,851.		31,900,000		31,900,000
Royal Bank of Canada Toronto Repurchase Agreement dated 03/29/24 at 5.590%, due on 05/03/24 with a maturity value of $3,016,304; collateralized by various Common Stock with an aggregate market value of $3,333,851.		3,000,000		3,000,000
Societe Generale
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $20,009,033; collateralized by various Common Stock with an aggregate market value of $22,262,548.		20,000,000		20,000,000
Repurchase Agreement dated 03/29/24 at 5.440%, due on 04/01/24 with a maturity value of $1,000,453; collateralized by various Common Stock with an aggregate market value of $1,114,577.		1,000,000		1,000,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $10,004,517; collateralized by various Common Stock with an aggregate market value of $11,001,656.		10,000,000		10,000,000

				111,327,654


Time Deposits—1.2%
Banco Santander SA (NY) 5.310%, 04/01/24		4,000,000		4,000,000
DZ Bank AG (NY) 5.290%, 04/01/24		4,000,000		4,000,000
National Bank of Canada 5.390%, OBFR + 0.070%, 04/05/24 (g)		5,000,000		5,000,000

				13,000,000


Mutual Funds—1.1%
BlackRock Liquidity Funds FedFund, Institutional Shares 5.200% (h)		1,000,000		1,000,000
Dreyfus Treasury Obligations Cash Management Fund, Institutional Class 5.200% (h)		3,000,000		3,000,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (h)		6,000,000		6,000,000
HSBC U.S. Government Money Market Fund, Class I 5.240% (h)		2,000,000		2,000,000

				12,000,000

Total Securities Lending Reinvestments (Cost $177,234,863)				177,235,271

Total Investments—115.9% (Cost $936,182,992)				1,269,280,504
Other assets and liabilities (net)—(15.9)%				(174,410,138	)

Net Assets—100.0%			$	1,094,870,366


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.
(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $237,507,265 and the collateral received consisted of cash in the amount of $177,134,675 and non-cash collateral with a value of $67,594,714. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)		All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2024, the market value of securities pledged was $2,925,000.
(d)		Affiliated Issuer.
(e)		The rate shown represents current yield to maturity.
(f)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(g)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(h)		The rate shown represents the annualized seven-day yield as of March 31, 2024.

BHFTII-178

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Transactions in Securities of Affiliated Issuers

A summary of the Portfolio’s transactions in the securities of affiliated issuers for the period ended March 31, 2024 is as follows.


Security Description	Market Value December 31, 2023		Purchases		Sales			Realized Gain/(Loss)		Change in Unrealized Appreciation/ (Depreciation)			Ending Value as of March 31, 2024
Brighthouse Financial, Inc.	$	1,351,947	$	—	$	(41,760	)	$	58,260	$	(94,069	)	$	1,274,378

Futures Contracts

Futures Contracts—Long

Expiration
Date

Number of
Contracts

Notional
Amount

Value/
Unrealized
Appreciation/
(Depreciation)

S&P Midcap 400 Index E-Mini Futures

06/21/24

USD

17,541,180

591,383

Glossary of Abbreviations

Currencies


(USD)—		United States Dollar

Index Abbreviations


(FEDEFF PRV)—		Effective Federal Funds Rate
(OBFR)—		U.S. Overnight Bank Funding Rate
(SOFR)—		Secured Overnight Financing Rate

Other Abbreviations


(ETF)—		Exchange-Traded Fund
(REIT)—		Real Estate Investment Trust

BHFTII-179

Brighthouse Funds Trust II

MetLife Mid Cap Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	1,050,324,932	$	—		$	—	$	1,050,324,932
Total Mutual Funds*		25,872,600		—			—		25,872,600
Total Short-Term Investment*		—		15,847,701			—		15,847,701
Securities Lending Reinvestments
Certificates of Deposit		—		33,911,902			—		33,911,902
Commercial Paper		—		6,995,715			—		6,995,715
Repurchase Agreements		—		111,327,654			—		111,327,654
Time Deposits		—		13,000,000			—		13,000,000
Mutual Funds		12,000,000		—			—		12,000,000
Total Securities Lending Reinvestments		12,000,000		165,235,271			—		177,235,271
Total Investments	$	1,088,197,532	$	181,082,972		$	—	$	1,269,280,504

Collateral for Securities Loaned (Liability)	$	—	$	(177,134,675	)	$	—	$	(177,134,675	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	591,383	$	—		$	—	$	591,383


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-180

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—95.4% of Net Assets


Security Description	Shares		Value

Australia—6.8%
Ampol Ltd.		15,576	$	404,554
ANZ Group Holdings Ltd.		165,596		3,176,449
APA Group		72,572		398,421
Aristocrat Leisure Ltd.		33,301		934,302
ASX Ltd.		9,864		427,455
Aurizon Holdings Ltd.		105,688		275,986
BHP Group Ltd.		280,215		8,101,694
BlueScope Steel Ltd.		24,346		379,268
Brambles Ltd.		77,628		819,459
CAR Group Ltd.		20,417		480,635
Cochlear Ltd.		3,634		800,277
Coles Group Ltd.		76,847		850,951
Commonwealth Bank of Australia		92,580		7,288,202
Computershare Ltd.		32,168		548,054
CSL Ltd.		26,707		5,025,431
Dexus (REIT)		66,600		344,583
EBOS Group Ltd.		8,800		180,280
Endeavour Group Ltd.		82,569		296,835
Fortescue Ltd.		97,232		1,631,212
Goodman Group (REIT)		96,640		2,132,017
GPT Group (REIT)		109,987		328,799
IDP Education Ltd.		14,103		164,825
Insurance Australia Group Ltd.		132,599		553,674
Lottery Corp. Ltd.		128,267		431,021
Macquarie Group Ltd.		19,864		2,588,298
Medibank Pvt Ltd.		105,357		258,452
Mineral Resources Ltd.		11,249		521,270
Mirvac Group (REIT)		136,992		211,599
National Australia Bank Ltd.		172,454		3,897,740
Northern Star Resources Ltd.		65,100		622,096
Orica Ltd.		24,591		293,494
Origin Energy Ltd.		97,507		585,491
Pilbara Minerals Ltd.		157,791		395,918
Qantas Airways Ltd. (a)		48,695		173,330
QBE Insurance Group Ltd.		78,602		929,892
Ramsay Health Care Ltd.		11,010		405,985
REA Group Ltd.		2,790		337,628
Reece Ltd.		12,499		229,416
Rio Tinto Ltd.		20,772		1,653,311
Santos Ltd.		183,626		928,530
Scentre Group (REIT)		234,881		520,963
SEEK Ltd.		23,745		388,123
Seven Group Holdings Ltd.		9,045		240,732
Sonic Healthcare Ltd.		24,516		470,370
South32 Ltd.		192,946		379,293
Stockland (REIT)		137,064		434,853
Suncorp Group Ltd.		76,841		822,016
Telstra Group Ltd.		181,348		457,060
Transurban Group		175,157		1,524,407
Treasury Wine Estates Ltd.		45,513		371,418
Vicinity Ltd. (REIT)		123,617		171,814
Washington H Soul Pattinson & Co. Ltd.		14,627		320,765
Wesfarmers Ltd.		61,758		2,758,390
Westpac Banking Corp.		193,577		3,300,787
WiseTech Global Ltd.		8,635		529,373
Woodside Energy Group Ltd.		108,084		2,161,564
Woolworths Group Ltd.		67,773		1,466,737

				66,325,499


Austria—0.2%
Erste Group Bank AG		19,815	$	883,285
Mondi PLC		26,440		466,327
OMV AG		8,951		424,535
Verbund AG		2,449		179,525
voestalpine AG		6,416		180,225

				2,133,897


Belgium—0.8%
Ageas SA		9,698		449,680
Anheuser-Busch InBev SA		47,843		2,913,319
D’ieteren Group		923		204,781
Elia Group SA		2,047		221,517
Groupe Bruxelles Lambert NV		4,860		367,944
KBC Group NV		14,353		1,079,581
Lotus Bakeries NV		24		231,984
Sofina SA		888		199,271
Syensqo SA (a)		3,561		337,504
UCB SA		7,036		868,694
Umicore SA		13,317		287,349
Warehouses De Pauw CVA		9,872		281,866

				7,443,490


Burkina Faso—0.0%
Endeavour Mining PLC		11,300		230,140


Chile—0.1%
Antofagasta PLC		20,259		523,441


China—0.3%
BOC Hong Kong Holdings Ltd.		213,465		572,038
Prosus NV		79,181		2,483,876
Wharf Holdings Ltd.		62,000		203,792

				3,259,706


Denmark—3.5%
AP Moller - Maersk AS - Class A (b)		129		165,029
AP Moller - Maersk AS - Class B		206		268,127
Carlsberg AS- Class B		5,697		781,394
Coloplast AS - Class B		6,724		910,977
Danske Bank AS		36,550		1,096,526
Demant AS (a)		5,807		289,813
DSV AS		9,686		1,575,508
Genmab AS (a)		3,730		1,117,171
Novo Nordisk AS - Class B		180,409		23,134,251
Novonesis (Novozymes) B - B Shares		19,918		1,170,243
Orsted AS (a)		10,898		614,236
Pandora AS		4,872		787,783
Rockwool AS - B Shares (a)		571		188,657
Tryg AS		19,542		402,705
Vestas Wind Systems AS (a)		57,984		1,612,426

				34,114,846


Finland—0.9%
Elisa Oyj		8,457		377,676
Fortum Oyj (b)		25,580		316,037
Kesko Oyj - B Shares		13,341		249,356
Kone Oyj - Class B		18,055		840,710

BHFTII-181

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Finland—(Continued)
Metso Oyj		38,200	$	453,745
Neste Oyj		25,004		678,585
Nokia Oyj		304,070		1,076,988
Nordea Bank Abp		172,100		1,946,766
Orion Oyj - Class B		5,744		214,393
Sampo Oyj - A Shares		24,688		1,053,597
Stora Enso Oyj - R Shares		33,562		467,233
UPM-Kymmene Oyj		27,836		927,476
Wartsila Oyj Abp		27,280		414,845

				9,017,407


France—11.3%
Accor SA		11,190		522,914
Adevinta ASA (a)		16,794		176,499
Aeroports de Paris SA		1,975		270,881
Air Liquide SA		28,997		6,049,444
Airbus SE		32,774		6,051,807
Alstom SA		17,291		263,687
Amundi SA		2,443		167,792
Arkema SA		3,712		390,878
AXA SA		101,420		3,812,249
BioMerieux		1,839		202,811
BNP Paribas SA		57,092		4,067,468
Bollore SE		35,194		235,224
Bouygues SA		11,159		455,921
Bureau Veritas SA		14,987		457,297
Capgemini SE		8,840		2,040,613
Carrefour SA		28,117		481,695
Cie de Saint-Gobain SA		24,978		1,939,004
Cie Generale des Etablissements Michelin SCA		37,738		1,448,420
Covivio SA (REIT)		3,163		163,159
Credit Agricole SA		60,667		904,724
Danone SA		34,907		2,257,896
Dassault Aviation SA		1,217		268,130
Dassault Systemes SE		37,933		1,679,610
Edenred SE		15,079		804,745
Eiffage SA		4,534		514,612
Engie SA		97,231		1,635,686
EssilorLuxottica SA		16,105		3,656,412
Eurazeo SE		2,867		251,414
Gecina SA (REIT)		2,150		219,710
Getlink SE		18,615		317,175
Hermes International SCA		1,751		4,493,713
Ipsen SA		2,335		277,842
Kering SA		4,224		1,671,376
Klepierre SA (REIT)		12,682		328,648
L’Oreal SA		13,303		6,315,834
La Francaise des Jeux SAEM		6,363		259,630
Legrand SA		14,504		1,536,129
LVMH Moet Hennessy Louis Vuitton SE		15,265		13,820,950
Orange SA		105,927		1,245,719
Pernod Ricard SA		11,110		1,798,283
Publicis Groupe SA		12,214		1,332,488
Remy Cointreau SA		1,206		121,597
Renault SA		11,902		601,465
Rexel SA		12,469		336,851
Safran SA		18,896		4,283,375
Sanofi SA		62,930		6,181,108

France—(Continued)
Sartorius Stedim Biotech (a)		1,739		496,094
Schneider Electric SE		30,085		6,810,441
SEB SA		1,599		205,286
Societe Generale SA		38,418		1,034,718
Sodexo SA		5,109		438,520
Teleperformance SE		3,137		304,518
Thales SA		5,023		857,217
TotalEnergies SE		120,021		8,261,441
Unibail - Rodamco-Westfield (a)		5,832		469,001
Veolia Environnement SA		38,098		1,237,324
Vinci SA		27,680		3,549,250
Vivendi SE		31,863		347,917
Worldline SA (a)		12,492		154,824

				110,479,436


Germany—7.8%
adidas AG		8,718		1,949,438
Allianz SE		21,655		6,496,597
BASF SE		48,840		2,792,010
Bayer AG (b)		52,363		1,607,583
Bayerische Motoren Werke AG		18,182		2,100,097
Bechtle AG		3,446		182,290
Beiersdorf AG		5,659		824,801
Brenntag SE		6,768		570,726
Carl Zeiss Meditec AG		2,492		311,673
Commerzbank AG		61,497		845,418
Continental AG		5,627		406,587
Covestro AG (a)		10,220		559,695
Daimler Truck Holding AG		28,970		1,469,092
Delivery Hero SE (a)		11,033		315,931
Deutsche Bank AG		110,884		1,745,973
Deutsche Boerse AG		10,298		2,109,322
Deutsche Lufthansa AG (a)		35,564		279,667
Deutsche Post AG		54,799		2,362,350
Deutsche Telekom AG		179,183		4,354,342
E.ON SE		118,836		1,653,524
Evonik Industries AG		12,954		256,375
Fresenius Medical Care AG		11,169		430,007
Fresenius SE & Co. KGaA		21,156		571,175
GEA Group AG		9,989		422,783
Hannover Rueck SE		3,591		983,840
Heidelberg Materials AG		7,955		875,956
Henkel AG & Co. KGaA		5,102		367,851
Infineon Technologies AG		71,573		2,435,768
Knorr-Bremse AG		4,409		333,824
LEG Immobilien SE (a)		3,457		297,068
Mercedes-Benz Group AG		44,358		3,537,025
Merck KGaA		7,195		1,271,186
MTU Aero Engines AG		3,014		765,594
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		7,478		3,652,646
Nemetschek SE		3,293		326,202
Puma SE		5,186		235,328
Rational AG		216		186,357
Rheinmetall AG		2,403		1,351,908
RWE AG		35,506		1,206,275
SAP SE		57,728		11,251,227
Scout24 SE		3,900		294,267
Siemens AG		42,015		8,029,426

BHFTII-182

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Germany—(Continued)
Siemens Energy AG (a)		31,577	$	579,947
Siemens Healthineers AG (a)		16,020		981,394
Symrise AG		7,141		855,755
Talanx AG		3,850		305,136
Volkswagen AG		1,994		304,947
Vonovia SE		42,326		1,253,101
Zalando SE (a)		11,098		317,511

				76,616,995


Hong Kong—1.5%
AIA Group Ltd.		629,800		4,226,824
CK Asset Holdings Ltd.		104,440		430,270
CK Infrastructure Holdings Ltd.		49,500		289,696
CLP Holdings Ltd.		94,377		752,480
Futu Holdings Ltd. (ADR) (a)(b)		3,200		173,280
Galaxy Entertainment Group Ltd.		121,000		608,280
Hang Seng Bank Ltd.		46,300		507,424
Henderson Land Development Co. Ltd.		83,311		237,820
HKT Trust & HKT Ltd.		217,980		254,304
Hong Kong & China Gas Co. Ltd.		645,531		489,674
Hong Kong Exchanges & Clearing Ltd.		68,900		2,009,672
Hongkong Land Holdings Ltd.		63,800		195,907
Jardine Matheson Holdings Ltd.		10,400		387,805
Link REIT (REIT)		134,649		580,015
MTR Corp. Ltd.		82,000		270,331
Power Assets Holdings Ltd.		72,049		421,666
Sino Land Co. Ltd. (b)		211,600		219,976
Sun Hung Kai Properties Ltd.		86,750		835,965
Swire Pacific Ltd.—Class A		21,817		179,661
Swire Properties Ltd.		67,200		141,375
Techtronic Industries Co. Ltd.		78,000		1,057,556
WH Group Ltd.		272,000		179,515
Wharf Real Estate Investment Co. Ltd.		91,976		299,610

				14,749,106


Ireland—0.9%
AerCap Holdings NV (a)		11,400		990,774
AIB Group PLC		89,600		454,920
Bank of Ireland Group PLC		57,600		588,432
CRH PLC		38,355		3,311,832
James Hardie Industries PLC (a)		24,825		997,987
Kerry Group PLC - Class A		8,369		719,035
Kingspan Group PLC		8,205		747,727
Smurfit Kappa Group PLC		15,811		722,030

				8,532,737


Israel—0.7%
Azrieli Group Ltd.		2,906		210,352
Bank Hapoalim BM		73,211		688,454
Bank Leumi Le-Israel BM		82,474		687,536
Check Point Software Technologies Ltd. (a)		4,800		787,249
CyberArk Software Ltd. (a)		2,100		557,823
Elbit Systems Ltd.		1,528		320,409
Global-e Online Ltd. (a) (b)		5,200		189,020
ICL Group Ltd.		44,582		236,814
Israel Discount Bank Ltd. - Class A		71,026		368,669

Israel—(Continued)
Mizrahi Tefahot Bank Ltd.		9,874		371,502
Nice Ltd. (a)		3,347		875,205
Teva Pharmaceutical Industries Ltd. (ADR) (a)		63,253		892,500
Wix.com Ltd. (a)		2,700		371,196

				6,556,729


Italy—2.3%
Amplifon SpA		5,342		195,004
Assicurazioni Generali SpA		55,562		1,408,402
Banco BPM SpA		70,000		466,301
Davide Campari-Milano NV		34,034		342,352
DiaSorin SpA		1,237		119,455
Enel SpA		447,155		2,955,033
Eni SpA		121,311		1,925,440
Ferrari NV		6,934		3,025,574
FinecoBank Banca Fineco SpA		35,112		526,357
Infrastrutture Wireless Italiane SpA		24,381		277,285
Intesa Sanpaolo SpA		808,582		2,936,802
Leonardo SpA		23,400		588,482
Mediobanca Banca di Credito Finanziario SpA		33,261		496,081
Moncler SpA		11,647		869,903
Nexi SpA (a)		32,431		205,873
Poste Italiane SpA		29,264		366,777
Prysmian SpA		14,291		747,146
Recordati Industria Chimica e Farmaceutica SpA		5,644		312,252
Snam SpA		112,553		531,829
Telecom Italia SpA (a)(b)		161,619		39,166
Terna - Rete Elettrica Nazionale		75,176		624,097
UniCredit SpA		85,201		3,236,701

				22,196,312


Japan—22.6%
Advantest Corp.		42,800		1,913,138
Aeon Co. Ltd.		37,100		879,649
AGC, Inc.		9,500		344,561
Aisin Corp. (b)		8,500		346,912
Ajinomoto Co., Inc. (b)		25,100		937,163
ANA Holdings, Inc. (b)		8,400		175,429
Asahi Group Holdings Ltd.		26,000		954,774
Asahi Intecc Co. Ltd.		14,200		249,011
Asahi Kasei Corp.		72,600		531,875
Astellas Pharma, Inc.		102,800		1,105,019
Azbil Corp. (b)		7,000		193,792
Bandai Namco Holdings, Inc.		34,200		633,306
Bridgestone Corp.		30,200		1,339,987
Brother Industries Ltd. (b)		16,400		304,830
Canon, Inc. (b)		57,400		1,709,073
Capcom Co. Ltd.		22,200		416,297
Central Japan Railway Co.		42,700		1,060,321
Chiba Bank Ltd. (b)		33,200		276,439
Chubu Electric Power Co., Inc.		40,300		525,768
Chugai Pharmaceutical Co. Ltd.		38,100		1,456,565
Concordia Financial Group Ltd. (b)		60,900		306,199
Dai Nippon Printing Co. Ltd. (b)		13,000		398,552
Dai-ichi Life Holdings, Inc.		53,100		1,355,237
Daifuku Co. Ltd.		18,500		443,869
Daiichi Sankyo Co. Ltd.		102,300		3,252,217
Daikin Industries Ltd.		14,200		1,942,866

BHFTII-183

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Daito Trust Construction Co. Ltd.		3,000	$	342,081
Daiwa House Industry Co. Ltd.		32,600		969,881
Daiwa Securities Group, Inc. (b)		73,700		561,003
Denso Corp.		104,600		2,001,892
Dentsu Group, Inc.		10,300		285,402
Disco Corp.		5,000		1,837,443
East Japan Railway Co.		53,100		1,018,315
Eisai Co. Ltd.		14,700		605,708
ENEOS Holdings, Inc.		153,600		739,599
FANUC Corp.		55,100		1,541,444
Fast Retailing Co. Ltd.		9,600		2,975,667
Fuji Electric Co. Ltd.		6,500		435,922
FUJIFILM Holdings Corp.		61,800		1,388,633
Fujitsu Ltd.		97,000		1,553,573
GLP J-REIT		268		224,966
Hamamatsu Photonics KK		7,000		246,799
Hankyu Hanshin Holdings, Inc.		13,900		398,353
Hikari Tsushin, Inc.		1,500		281,905
Hirose Electric Co. Ltd.		1,515		155,644
Hitachi Construction Machinery Co. Ltd. (b)		4,800		144,968
Hitachi Ltd.		50,600		4,622,859
Honda Motor Co. Ltd.		254,400		3,147,131
Hoshizaki Corp.		4,700		171,461
Hoya Corp.		19,100		2,391,528
Hulic Co. Ltd. (b)		25,800		264,940
Ibiden Co. Ltd. (b)		5,600		251,408
Idemitsu Kosan Co. Ltd.		44,340		303,936
Inpex Corp.		53,100		809,297
Isuzu Motors Ltd.		29,000		391,931
ITOCHU Corp.		65,300		2,800,834
Japan Airlines Co. Ltd.		8,400		159,401
Japan Exchange Group, Inc.		26,100		707,007
Japan Metropolitan Fund Invest (REIT)		307		191,437
Japan Post Bank Co. Ltd.		82,600		889,064
Japan Post Holdings Co. Ltd.		108,500		1,092,428
Japan Post Insurance Co. Ltd.		8,200		156,670
Japan Real Estate Investment Corp.(REIT) (b)		85		303,124
Japan Tobacco, Inc.		66,700		1,778,486
JFE Holdings, Inc.		30,400		502,931
JSR Corp. (a)		9,800		280,432
Kajima Corp.		27,100		555,852
Kansai Electric Power Co., Inc.		40,700		580,037
Kao Corp.		25,400		950,576
Kawasaki Kisen Kaisha Ltd. (b)		24,000		322,318
KDDI Corp.		81,700		2,416,261
KDX Realty Investment Corp. (REIT)		238		253,406
Keisei Electric Railway Co. Ltd. (b)		6,600		268,074
Keyence Corp.		10,800		5,023,154
Kikkoman Corp.		40,000		513,401
Kintetsu Group Holdings Co. Ltd. (b)		11,012		320,797
Kirin Holdings Co. Ltd.		42,600		592,060
Kobe Bussan Co. Ltd.		9,200		225,399
Koito Manufacturing Co. Ltd.		7,400		99,676
Komatsu Ltd.		50,800		1,504,654
Konami Group Corp.		6,200		422,166
Kubota Corp.		58,600		933,337
Kyocera Corp.		68,200		911,132
Kyowa Kirin Co. Ltd.		15,200		273,337
Lasertec Corp.		4,400		1,248,124

Japan—(Continued)
LY Corp.		108,300		273,702
M3, Inc.		23,200		334,408
Makita Corp.		11,200		317,813
Marubeni Corp.		78,800		1,365,112
MatsukiyoCocokara & Co.		21,000		337,372
Mazda Motor Corp. (b)		32,900		384,856
McDonald’s Holdings Co. Japan Ltd.		5,400		242,953
MEIJI Holdings Co. Ltd.		14,600		318,613
Minebea Mitsumi, Inc. (b)		18,900		370,571
MISUMI Group, Inc.		19,300		269,267
Mitsubishi Chemical Group Corp.		74,100		451,463
Mitsubishi Corp.		190,800		4,407,685
Mitsubishi Electric Corp.		106,800		1,790,544
Mitsubishi Estate Co. Ltd.		65,200		1,186,312
Mitsubishi HC Capital, Inc.		34,800		242,578
Mitsubishi Heavy Industries Ltd.		173,000		1,569,652
Mitsubishi UFJ Financial Group, Inc.		613,988		6,247,090
Mitsui & Co. Ltd.		71,617		3,346,911
Mitsui Chemicals, Inc.		8,300		243,440
Mitsui Fudosan Co. Ltd.		145,800		1,571,330
Mitsui OSK Lines Ltd. (b)		17,900		545,491
Mizuho Financial Group, Inc.		131,650		2,605,444
MonotaRO Co. Ltd.		14,600		175,348
MS&AD Insurance Group Holdings, Inc.		73,200		1,295,503
Murata Manufacturing Co. Ltd.		92,700		1,744,773
NEC Corp.		13,000		946,112
Nexon Co. Ltd.		17,300		287,409
NIDEC Corp.		24,400		1,007,421
Nintendo Co. Ltd.		57,400		3,142,393
Nippon Building Fund, Inc		102		408,413
Nippon Express Holdings, Inc.		4,900		250,096
Nippon Paint Holdings Co. Ltd.		54,000		388,493
Nippon Prologis REIT, Inc. (REIT)		143		254,890
Nippon Sanso Holdings Corp.		9,600		301,443
Nippon Steel Corp. (b)		47,300		1,137,541
Nippon Telegraph & Telephone Corp.		1,610,300		1,917,558
Nippon Yusen KK (b)		23,600		647,149
Nissan Chemical Corp.		8,600		325,955
Nissan Motor Co. Ltd. (b)		133,300		528,759
Nissin Foods Holdings Co. Ltd.		11,400		314,377
Nitori Holdings Co. Ltd.		4,800		723,728
Nitto Denko Corp.		7,500		685,554
Nomura Holdings, Inc.		167,100		1,069,260
Nomura Real Estate Holdings, Inc.		4,100		115,956
Nomura Real Estate Master Fund, Inc. (REIT)		169		167,155
Nomura Research Institute Ltd.		20,500		578,758
NTT Data Group Corp.		34,480		548,096
Obayashi Corp.		40,200		477,619
Obic Co. Ltd.		4,200		633,135
Odakyu Electric Railway Co. Ltd. (b)		18,200		250,801
Olympus Corp.		65,000		935,338
Omron Corp.		10,100		362,097
Ono Pharmaceutical Co. Ltd.		23,800		390,165
Oracle Corp. Japan		1,400		105,243
Oriental Land Co. Ltd. (b)		59,000		1,890,361
ORIX Corp.		64,400		1,408,386
Osaka Gas Co. Ltd.		21,700		488,847
Otsuka Corp.		14,800		314,018
Otsuka Holdings Co. Ltd.		22,500		933,344

BHFTII-184

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Japan—(Continued)
Pan Pacific International Holdings Corp.		19,800	$	526,520
Panasonic Holdings Corp.		127,400		1,215,753
Rakuten Group, Inc. (a)		86,600		491,529
Recruit Holdings Co. Ltd.		79,600		3,507,355
Renesas Electronics Corp.		83,800		1,500,229
Resona Holdings, Inc.		122,900		759,472
Ricoh Co. Ltd. (b)		31,500		280,557
Rohm Co. Ltd. (b)		20,000		319,187
SBI Holdings, Inc.		11,711		307,004
SCREEN Holdings Co. Ltd. (b)		4,000		520,496
SCSK Corp.		11,700		216,995
Secom Co. Ltd.		11,900		863,065
Seiko Epson Corp. (b)		16,800		293,522
Sekisui Chemical Co. Ltd.		22,300		326,165
Sekisui House Ltd.		31,800		723,493
Seven & i Holdings Co. Ltd.		129,900		1,891,231
SG Holdings Co. Ltd.		19,500		246,962
Shimadzu Corp.		15,600		435,168
Shimano, Inc.		4,000		597,433
Shimizu Corp. (b)		34,200		220,969
Shin-Etsu Chemical Co. Ltd.		99,600		4,371,052
Shionogi & Co. Ltd.		12,900		660,724
Shiseido Co. Ltd.		22,700		620,679
Shizuoka Financial Group, Inc.		25,000		237,760
SMC Corp.		3,100		1,749,618
SoftBank Corp.		155,100		1,992,347
SoftBank Group Corp.		56,900		3,401,136
Sompo Holdings, Inc.		52,197		1,094,451
Sony Group Corp.		69,700		5,974,849
Square Enix Holdings Co. Ltd.		3,700		142,408
Subaru Corp.		31,900		726,213
SUMCO Corp.		22,600		357,778
Sumitomo Corp.		58,000		1,396,770
Sumitomo Electric Industries Ltd.		41,334		640,226
Sumitomo Metal Mining Co. Ltd.		12,800		379,723
Sumitomo Mitsui Financial Group, Inc.		70,000		4,093,178
Sumitomo Mitsui Trust Holdings, Inc.		38,852		837,885
Sumitomo Realty & Development Co. Ltd.		14,700		547,525
Suntory Beverage & Food Ltd.		8,500		287,396
Suzuki Motor Corp.		86,800		990,378
Sysmex Corp.		26,700		476,515
T&D Holdings, Inc.		25,900		450,639
Taisei Corp.		10,300		375,007
Takeda Pharmaceutical Co. Ltd.		86,548		2,405,929
TDK Corp.		22,400		1,100,658
Terumo Corp.		74,800		1,371,355
TIS, Inc.		11,200		239,802
Tobu Railway Co. Ltd.		12,400		309,894
Toho Co. Ltd.		5,200		172,864
Tokio Marine Holdings, Inc.		98,600		3,097,617
Tokyo Electric Power Co. Holdings, Inc. (a)		87,700		533,367
Tokyo Electron Ltd.		26,100		6,846,293
Tokyo Gas Co. Ltd. (b)		20,400		464,768
Tokyu Corp.		22,300		271,208
TOPPAN Holdings, Inc.		11,900		298,272
Toray Industries, Inc.		80,200		385,358
TOTO Ltd.		6,200		173,981
Toyota Industries Corp.		7,900		826,015
Toyota Motor Corp.		586,300		14,740,714

Japan—(Continued)
Toyota Tsusho Corp.		11,400		782,809
Trend Micro, Inc.		6,400		325,599
Unicharm Corp.		22,500		716,209
USS Co. Ltd.		26,400		218,263
West Japan Railway Co.		23,200		483,459
Yakult Honsha Co. Ltd. (b)		14,200		290,107
Yamaha Corp. (b)		9,100		196,111
Yamaha Motor Co. Ltd.		42,000		386,911
Yamato Holdings Co. Ltd.		18,300		263,540
Yaskawa Electric Corp.		14,600		621,188
Yokogawa Electric Corp.		10,200		235,132
Zensho Holdings Co. Ltd.		5,000		208,249
ZOZO, Inc. (b)		8,400		208,508

				220,187,756


Jordan—0.0%
Hikma Pharmaceuticals PLC		11,270		272,865


Luxembourg—0.2%
ArcelorMittal SA		27,879		766,724
Eurofins Scientific SE		6,508		414,889
Tenaris SA		27,400		541,977

				1,723,590


Macau—0.0%
Sands China Ltd. (a)		139,600		393,723


Netherlands—6.2%
ABN AMRO Bank NV		25,269		433,954
Adyen NV (a)		1,165		1,975,519
Aegon Ltd.		87,263		532,273
Akzo Nobel NV		8,601		642,202
Argenx SE (a)		3,256		1,286,535
ASM International NV		2,503		1,526,467
ASML Holding NV		22,287		21,420,176
ASR Nederland NV		9,212		451,471
BE Semiconductor Industries NV		4,443		679,087
Euronext NV		4,309		410,277
EXOR NV		4,754		528,907
Ferrovial SE		28,340		1,122,803
Heineken Holding NV		7,134		576,147
Heineken NV		16,597		1,600,919
IMCD NV		2,999		529,102
ING Groep NV - Series N		183,721		3,028,945
JDE Peet’s NV		7,639		160,547
Koninklijke Ahold Delhaize NV		51,334		1,536,514
Koninklijke KPN NV		185,449		694,237
Koninklijke Philips NV		45,006		903,462
NN Group NV		14,169		656,102
OCI NV		6,992		191,564
Randstad NV		5,702		301,043
Shell PLC		359,483		11,937,519
Stellantis NV (Milan-Traded Shares)		122,487		3,485,073
Universal Music Group NV		47,580		1,432,196
Wolters Kluwer NV		13,905		2,179,964

				60,223,005

BHFTII-185

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

New Zealand—0.2%
Auckland International Airport Ltd.		75,578	$	377,084
Fisher & Paykel Healthcare Corp. Ltd. - Class C		32,283		495,327
Mercury NZ Ltd.		47,715		197,757
Meridian Energy Ltd.		44,857		158,593
Spark New Zealand Ltd.		106,324		303,048
Xero Ltd. (a)		8,809		766,351

				2,298,160


Norway—0.5%
Aker BP ASA		16,292		407,459
DNB Bank ASA		53,584		1,064,478
Equinor ASA		46,788		1,256,301
Gjensidige Forsikring ASA		14,357		208,543
Kongsberg Gruppen ASA		4,863		336,563
Mowi ASA		23,708		436,046
Norsk Hydro ASA		75,203		415,003
Orkla ASA		43,283		305,595
Salmar ASA		4,072		269,385
Telenor ASA		36,259		403,562
Yara International ASA		6,927		219,640

				5,322,575


Portugal—0.1%
EDP - Energias de Portugal SA		180,838		706,233
Galp Energia SGPS SA		24,223		401,390
Jeronimo Martins SGPS SA		12,961		257,438

				1,365,061


Singapore—1.3%
CapitaLand Ascendas (REIT)		204,444		420,392
CapitaLand Integrated Commercial Trust (REIT)		306,642		450,904
CapitaLand Investment Ltd.		150,800		300,059
DBS Group Holdings Ltd.		98,867		2,645,688
Genting Singapore Ltd.		348,500		228,172
Grab Holdings Ltd. - Class A (a)		113,500		356,390
Keppel Ltd.		86,000		468,241
Mapletree Logistics Trust		198,449		214,761
Mapletree Pan Asia Commercial Trust		135,400		128,678
Oversea-Chinese Banking Corp. Ltd.		194,464		1,946,287
Sea Ltd. (ADR) (a)(b)		20,900		1,122,539
Seatrium Ltd. (a)		649,312		38,037
Sembcorp Industries Ltd.		52,000		208,126
Singapore Airlines Ltd.		87,540		415,608
Singapore Exchange Ltd.		54,400		371,721
Singapore Technologies Engineering Ltd.		106,000		316,068
Singapore Telecommunications Ltd.		475,820		892,155
United Overseas Bank Ltd.		68,792		1,495,838
Wilmar International Ltd.		97,400		247,207

				12,266,871


South Africa—0.2%
Anglo American PLC		72,055		1,782,052


Spain—2.5%
Acciona SA		1,638		199,667
ACS Actividades de Construccion y Servicios SA		12,979		543,654
Aena SME SA		4,224		832,395

Spain—(Continued)
Amadeus IT Group SA		25,117		1,612,523
Banco Bilbao Vizcaya Argentaria SA		322,739		3,848,897
Banco Santander SA		884,398		4,325,969
CaixaBank SA (b)		200,287		972,008
Cellnex Telecom SA (a)		25,386		898,581
EDP Renovaveis SA		17,703		240,397
Enagas SA		15,136		225,174
Endesa SA		16,585		307,756
Grifols SA (a)		21,632		194,602
Iberdrola SA		336,194		4,178,572
Industria de Diseno Textil SA		59,390		2,993,880
Redeia Corp. SA		21,616		369,434
Repsol SA		70,468		1,177,413
Telefonica SA		261,577		1,156,954

				24,077,876


Sweden—2.9%
Alfa Laval AB		15,516		610,550
Assa Abloy AB - Class B		53,770		1,544,025
Atlas Copco AB - A Shares		146,878		2,481,257
Atlas Copco AB - B Shares		83,575		1,235,055
Beijer Ref AB (b)		20,500		304,264
Boliden AB		16,516		458,053
Epiroc AB - A Shares		36,338		685,902
Epiroc AB - B Shares		24,398		413,622
EQT AB		22,013		696,104
Essity AB - Class B (b)		34,188		812,770
Evolution AB		9,652		1,199,743
Fastighets AB Balder - B Shares (a)		37,572		275,873
Getinge AB - B Shares		15,453		311,039
H & M Hennes & Mauritz AB - B Shares (b)		36,983		605,053
Hexagon AB - B Shares		114,943		1,362,038
Holmen AB - B Shares (a)		3,296		134,236
Husqvarna AB - B Shares		9,770		83,697
Industrivarden AB - A Shares		7,045		242,616
Industrivarden AB - C Shares (b)		8,319		286,047
Indutrade AB (a)		15,106		411,944
Investment AB Latour - B Shares		10,798		283,970
Investor AB - B Shares		93,825		2,354,419
L E Lundbergforetagen AB - B Shares		4,755		257,790
Lifco AB - B Shares		11,000		287,166
Nibe Industrier AB - B Shares (b)		88,393		434,384
Saab AB - Class B		4,900		436,205
Sagax AB - Class B		10,880		286,839
Sandvik AB		59,255		1,316,157
Securitas AB - B Shares (b)		28,342		292,230
Skandinaviska Enskilda Banken AB - Class A		91,449		1,238,211
Skanska AB - B Shares		16,847		299,694
SKF AB - B Shares (b)		18,258		372,550
Svenska Cellulosa AB SCA - Class B (b)		31,044		477,070
Svenska Handelsbanken AB - A Shares		85,696		867,575
Swedbank AB - A Shares (b)		49,129		975,850
Swedish Orphan Biovitrum AB (a)		12,810		319,855
Tele2 AB - B Shares		34,110		280,405
Telefonaktiebolaget LM Ericsson - B Shares (b)		145,493		801,704
Telia Co. AB		87,045		223,301
Volvo AB - A Shares		11,531		317,871

BHFTII-186

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Sweden—(Continued)
Volvo AB - B Shares (b)		84,632	$	2,294,531
Volvo Car AB - Class B (a)		41,179		155,912

				28,727,577


Switzerland—9.4%
ABB Ltd.		88,436		4,109,793
Adecco Group AG		9,221		365,012
Alcon, Inc.		27,107		2,247,040
Avolta AG (a)		5,990		249,546
Bachem Holding AG		2,095		200,883
Baloise Holding AG		2,719		426,487
Banque Cantonale Vaudoise		1,980		230,458
Barry Callebaut AG		187		271,769
BKW AG		1,390		213,556
Chocoladefabriken Lindt & Spruengli AG		6		724,589
Chocoladefabriken Lindt & Spruengli AG (Participation Certificate)		50		598,914
Cie Financiere Richemont SA - Class A		29,972		4,590,797
Clariant AG (a)		13,958		188,865
Coca-Cola HBC AG		13,800		436,456
DSM-Firmenich AG		10,717		1,219,074
EMS-Chemie Holding AG		423		324,826
Geberit AG		1,837		1,086,816
Givaudan SA		502		2,245,820
Glencore PLC		591,248		3,255,556
Helvetia Holding AG		2,260		311,873
Julius Baer Group Ltd.		11,250		650,238
Kuehne & Nagel International AG		2,854		795,262
Logitech International SA		9,636		863,396
Lonza Group AG		4,034		2,418,403
Nestle SA		147,606		15,692,878
Novartis AG		113,315		10,987,928
Partners Group Holding AG		1,269		1,815,667
Roche Holding AG		38,840		9,927,612
Roche Holding AG (Bearer Shares)		1,770		477,034
Sandoz Group AG (a)		23,538		710,923
Schindler Holding AG		1,428		348,756
Schindler Holding AG (Participation Certificate)		2,283		575,544
SGS SA (a)		8,665		841,604
SIG Group AG		15,590		346,085
Sika AG		8,255		2,461,114
Sonova Holding AG		2,693		780,443
STMicroelectronics NV		39,053		1,682,877
Straumann Holding AG		5,762		920,939
Swatch Group AG		4,016		500,304
Swiss Life Holding AG		1,671		1,172,659
Swiss Prime Site AG		4,615		435,724
Swiss Re AG		16,248		2,091,475
Swisscom AG (a)		1,510		924,322
Temenos AG		2,932		210,257
UBS Group AG		181,825		5,595,309
VAT Group AG		1,513		783,525
Zurich Insurance Group AG		8,091		4,368,081

				91,676,489


United Arab Emirates—0.0%
NMC Health PLC (a) (c) (d)		7,569		0


United Kingdom—11.3%
3i Group PLC		55,885		1,981,392
abrdn PLC		100,841		180,060
Admiral Group PLC		14,845		531,777
Ashtead Group PLC		24,048		1,710,848
Associated British Foods PLC		18,881		596,526
AstraZeneca PLC		85,698		11,548,529
Auto Trader Group PLC		45,593		402,968
Aviva PLC		164,006		1,030,147
BAE Systems PLC		167,165		2,849,806
Barclays PLC		827,548		1,924,696
Barratt Developments PLC		47,746		287,393
Berkeley Group Holdings PLC		5,026		302,500
BP PLC		946,288		5,951,027
British American Tobacco PLC		111,272		3,385,052
BT Group PLC		250,227		346,550
Bunzl PLC		20,033		772,115
Burberry Group PLC		23,361		358,705
Centrica PLC		240,331		387,360
CK Hutchison Holdings Ltd.		153,940		744,268
Coca-Cola Europacific Partners PLC		11,100		776,445
Compass Group PLC		95,527		2,802,057
Croda International PLC		6,802		422,245
DCC PLC		4,751		346,145
Diageo PLC		123,581		4,567,901
Entain PLC		39,400		396,393
Experian PLC		49,825		2,177,058
Flutter Entertainment PLC (a)		9,898		1,977,990
Haleon PLC		319,304		1,341,200
Halma PLC		22,415		670,356
Hargreaves Lansdown PLC		13,683		127,391
HSBC Holdings PLC		1,059,086		8,285,557
Imperial Brands PLC		47,022		1,052,235
Informa PLC		77,518		813,426
InterContinental Hotels Group PLC		9,760		1,016,145
Intertek Group PLC		9,159		577,629
J Sainsbury PLC		94,695		323,897
JD Sports Fashion PLC		61,085		103,658
Kingfisher PLC		103,242		325,018
Land Securities Group PLC (REIT)		40,597		337,215
Legal & General Group PLC		322,853		1,036,648
Lloyds Banking Group PLC		3,499,629		2,292,841
London Stock Exchange Group PLC		23,414		2,806,944
M&G PLC		129,250		360,471
Melrose Industries PLC		77,883		661,573
National Grid PLC		211,145		2,843,108
NatWest Group PLC		291,822		978,145
Next PLC		6,871		802,938
Ocado Group PLC (a)		33,748		194,628
Pearson PLC		32,125		422,665
Persimmon PLC		15,059		250,078
Phoenix Group Holdings PLC		43,268		302,231
Prudential PLC		158,081		1,488,289
Reckitt Benckiser Group PLC		39,394		2,243,038
RELX PLC		103,190		4,462,628
Rentokil Initial PLC		138,734		828,644
Rio Tinto PLC		62,259		3,954,126
Rolls-Royce Holdings PLC (a)		456,935		2,459,456

BHFTII-187

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares/ Principal Amount*		Value

United Kingdom—(Continued)
Sage Group PLC		54,269	$	867,454
Schroders PLC		46,288		220,711
Segro PLC (REIT)		66,139		754,047
Severn Trent PLC		15,346		479,290
Smith & Nephew PLC		49,971		632,455
Smiths Group PLC		19,606		407,115
Spirax-Sarco Engineering PLC		4,349		553,303
SSE PLC		58,208		1,214,752
St. James’s Place PLC		30,110		177,326
Standard Chartered PLC		136,689		1,159,357
Taylor Wimpey PLC		131,845		228,704
Tesco PLC		376,799		1,411,249
Unilever PLC		138,230		6,947,429
United Utilities Group PLC		38,342		498,983
Vodafone Group PLC		1,113,234		986,520
Whitbread PLC		10,880		456,136
Wise PLC - Class A (a)		37,366		438,907
WPP PLC		66,140		626,475

				110,180,344


United States—0.9%
GSK PLC		227,494		4,890,137
Holcim AG		28,130		2,563,341
Monday.com Ltd. (a)		1,601		361,618
Qiagen NV (a)		12,069		516,653
				8,331,749

Total Common Stocks (Cost $624,262,224)				931,009,434


Mutual Funds—2.0%

United States—2.0%
iShares MSCI EAFE ETF (b)(e) (Cost $19,097,151)		247,000		19,725,420

Preferred Stocks—0.5%

Germany—0.5%
Bayerische Motoren Werke AG		3,581		384,383
Dr Ing hc F Porsche AG (b)		6,443		642,043
Henkel AG & Co. KGaA		9,444		759,798
Porsche Automobil Holding SE		9,628		510,900
Sartorius AG (a)		1,542		613,919
Volkswagen AG		11,612		1,541,676

Total Preferred Stocks (Cost $4,174,427)				4,452,719


Short-Term Investment—1.5%

U.S. Treasury—1.5%
U.S. Treasury Bill 2.661%, 04/02/24 (f)		14,550,000		14,547,890

Total Short-Term Investments (Cost $14,547,878)				14,547,890

Securities Lending Reinvestments (g)—1.4%
Security Description	Shares/ Principal Amount*		Value

Repurchase Agreements—0.2%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $900,409; collateralized by various Common Stock with an aggregate market value of $1,002,440.		900,000		900,000
Barclays Bank PLC Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $100,045; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $102,334.		100,000		100,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $1,170,643; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $1,193,529.		1,170,126		1,170,126
Societe Generale Repurchase Agreement dated 03/29/24 at 5.440%, due on 04/01/24 with a maturity value of $250,113; collateralized by various Common Stock with an aggregate market value of $278,644.		250,000		250,000

				2,420,126


Mutual Funds—1.2%
AB Government Money Market , Institutional Class 5.210% (h)		1,000,000		1,000,000
Dreyfus Treasury Obligations Cash Management Fund, Institutional Class 5.200% (h)		1,000,000		1,000,000
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (h)		1,000,000		1,000,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (h)		2,000,000		2,000,000
Morgan Stanley Liquidity Funds Government Portfolio, Institutional Shares 5.220% (h)		1,000,000		1,000,000
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 5.260% (h)		3,000,000		3,000,000
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.260% (h)		2,000,000		2,000,000
STIT-Government & Agency Portfolio, Institutional Class 5.230% (h)		1,000,000		1,000,000

				12,000,000

Total Securities Lending Reinvestments (Cost $14,420,126)				14,420,126

Total Investments—100.8% (Cost $676,501,806)				984,155,589
Other assets and liabilities (net)—(0.8)%				(7,820,636	)

Net Assets—100.0%			$	976,334,953


(a)		Non-income producing security.

BHFTII-188

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)


(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $41,320,756 and the collateral received consisted of cash in the amount of $14,420,126 and non-cash collateral with a value of $29,118,480. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)		Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent less than 0.05% of net assets.
(d)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(e)		All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2024, the market value of securities pledged was $3,993,000.
(f)		The rate shown represents current yield to maturity.
(g)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(h)		The rate shown represents the annualized seven-day yield as of March 31, 2024.


Ten Largest Industries as of March 31, 2024 (Unaudited)	% of Net Assets
Banks		9.8
Pharmaceuticals		8.7
Insurance		5.0
Semiconductors & Semiconductor Equipment		4.3
Oil, Gas & Consumable Fuels		3.9
Automobiles		3.8
Textiles, Apparel & Luxury Goods		3.0
Chemicals		3.0
Machinery		2.9
Metals & Mining		2.8

Futures Contracts

Futures Contracts—Long

Expiration
Date

Number of
Contracts

Notional
Amount

Value/
Unrealized
Appreciation/
(Depreciation)

MSCI EAFE Index Mini Futures

06/21/24

125

USD

14,731,875

(1,510

)

Glossary of Abbreviations

Currencies


(USD)—		United States Dollar

Other Abbreviations


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

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

BHFTII-189

Brighthouse Funds Trust II

MetLife MSCI EAFE Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy—(Continued)

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31,2024:


Description	Level 1			Level 2			Level 3		Total
Common Stocks
Australia	$	—		$	66,325,499		$	—	$	66,325,499
Austria		—			2,133,897			—		2,133,897
Belgium		—			7,443,490			—		7,443,490
Burkina Faso		—			230,140			—		230,140
Chile		—			523,441			—		523,441
China		—			3,259,706			—		3,259,706
Denmark		—			34,114,846			—		34,114,846
Finland		—			9,017,407			—		9,017,407
France		—			110,479,436			—		110,479,436
Germany		—			76,616,995			—		76,616,995
Hong Kong		173,280			14,575,826			—		14,749,106
Ireland		990,774			7,541,963			—		8,532,737
Israel		2,797,787			3,758,942			—		6,556,729
Italy		—			22,196,312			—		22,196,312
Japan		—			220,187,756			—		220,187,756
Jordan		—			272,865			—		272,865
Luxembourg		—			1,723,590			—		1,723,590
Macau		—			393,723			—		393,723
Netherlands		—			60,223,005			—		60,223,005
New Zealand		—			2,298,160			—		2,298,160
Norway		—			5,322,575			—		5,322,575
Portugal		—			1,365,061			—		1,365,061
Singapore		1,478,929			10,787,942			—		12,266,871
South Africa		—			1,782,052			—		1,782,052
Spain		—			24,077,876			—		24,077,876
Sweden		—			28,727,577			—		28,727,577
Switzerland		—			91,676,489			—		91,676,489
United Arab Emirates		—			—			0		0
United Kingdom		776,445			109,403,899			—		110,180,344
United States		361,618			7,970,131			—		8,331,749
Total Common Stocks		6,578,833			924,430,601			0		931,009,434
Total Mutual Funds*		19,725,420			—			—		19,725,420
Total Preferred Stocks*		—			4,452,719			—		4,452,719
Total Short-Term Investment*		—			14,547,890			—		14,547,890
Securities Lending Reinvestments
Repurchase Agreements		—			2,420,126			—		2,420,126
Mutual Funds		12,000,000			—			—		12,000,000
Total Securities Lending Reinvestments		12,000,000			2,420,126			—		14,420,126
Total Investments	$	38,304,253		$	945,851,336		$	0	$	984,155,589

Collateral for Securities Loaned (Liability)	$	—		$	(14,420,126	)	$	—	$	(14,420,126	)
Futures Contracts
Futures Contracts (Unrealized Depreciation)	$	(1,510	)	$	—		$	—	$	(1,510	)


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-190

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—96.6% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—0.8%
AAR Corp. (a)		10,986	$	657,732
AeroVironment, Inc. (a)		8,686		1,331,390
AerSale Corp. (a) (b)		11,637		83,554
Archer Aviation, Inc. - Class A (a) (b)		43,828		202,485
Astronics Corp. (a)		9,068		172,655
Cadre Holdings, Inc. (b)		6,188		224,006
Ducommun, Inc. (a) (b)		4,381		224,745
Kaman Corp.		8,733		400,583
Kratos Defense & Security Solutions, Inc. (a)		45,510		836,474
Leonardo DRS, Inc. (a)		23,233		513,217
Moog, Inc. - Class A		9,208		1,470,057
National Presto Industries, Inc.		1,752		146,818
Park Aerospace Corp. (b)		6,034		100,345
Rocket Lab USA, Inc. (a) (b)		84,284		346,407
Triumph Group, Inc. (a) (b)		19,839		298,378
V2X, Inc. (a)		3,920		183,103
Virgin Galactic Holdings, Inc. (a) (b)		115,366		170,742

				7,362,691


Air Freight & Logistics—0.2%
Air Transport Services Group, Inc. (a)		15,143		208,368
Forward Air Corp.		8,582		266,986
Hub Group, Inc. - Class A		20,568		888,949
Radiant Logistics, Inc. (a) (b)		11,715		63,495

				1,427,798


Automobile Components—1.2%
Adient PLC (a)		29,232		962,317
American Axle & Manufacturing Holdings, Inc. (a)		37,246		274,131
Cooper-Standard Holdings, Inc. (a) (b)		5,724		94,789
Dana, Inc. (b)		39,984		507,797
Dorman Products, Inc. (a)		8,529		822,110
Fox Factory Holding Corp. (a) (b)		14,199		739,342
Gentherm, Inc. (a) (b)		10,812		622,555
Goodyear Tire & Rubber Co. (a)		89,327		1,226,460
Holley, Inc. (a)		10,257		45,746
LCI Industries (b)		7,888		970,697
Luminar Technologies, Inc. (a) (b)		91,895		181,033
Modine Manufacturing Co. (a) (b)		16,801		1,599,287
Patrick Industries, Inc. (b)		6,906		825,060
Solid Power, Inc. (a) (b)		54,086		109,795
Standard Motor Products, Inc.		6,921		232,200
Stoneridge, Inc. (a)		9,252		170,607
Visteon Corp. (a) (b)		8,756		1,029,793
XPEL, Inc. (a) (b)		7,590		410,012

				10,823,731


Automobiles—0.1%
Mullen Automotive, Inc. (a)		1		5
Winnebago Industries, Inc. (b)		9,506		703,444

				703,449


Banks—8.2%
1st Source Corp.		5,221		273,685
ACNB Corp. (b)		2,906		109,266

Banks —(Continued)
Amalgamated Financial Corp.		5,989		143,736
Amerant Bancorp, Inc.		9,340		217,529
American National Bankshares, Inc. (b)		3,251		155,268
Ameris Bancorp (b)		21,435		1,037,025
Ames National Corp. (b)		2,972		59,975
Arrow Financial Corp. (b)		5,053		126,426
Associated Banc-Corp.		48,742		1,048,440
Atlantic Union Bankshares Corp. (b)		24,751		873,958
Axos Financial, Inc. (a) (b)		17,874		965,911
Banc of California, Inc. (b)		44,234		672,799
BancFirst Corp. (b)		6,957		612,425
Bancorp, Inc. (a)		17,068		571,095
Bank First Corp.		3,147		272,750
Bank of Hawaii Corp. (b)		12,557		783,431
Bank of Marin Bancorp (b)		5,192		87,070
Bank of NT Butterfield & Son Ltd.		16,033		512,896
BankUnited, Inc.		24,606		688,968
Bankwell Financial Group, Inc.		1,932		50,116
Banner Corp.		10,483		503,184
Bar Harbor Bankshares		5,292		140,132
BayCom Corp.		4,420		91,096
BCB Bancorp, Inc.		799		8,350
Berkshire Hills Bancorp, Inc. (b)		14,603		334,701
Blue Foundry Bancorp (a) (b)		7,608		71,211
Bridgewater Bancshares, Inc. (a) (b)		6,071		70,666
Brookline Bancorp, Inc.		26,564		264,577
Burke & Herbert Financial Services Corp. (b)		2,208		123,714
Business First Bancshares, Inc. (b)		7,980		177,794
Byline Bancorp, Inc.		8,821		191,592
C&F Financial Corp. (b)		1,129		55,321
Cadence Bank		59,134		1,714,886
Cambridge Bancorp		2,576		175,580
Camden National Corp. (b)		4,522		151,577
Capital Bancorp, Inc.		3,124		65,073
Capital City Bank Group, Inc.		4,547		125,952
Capitol Federal Financial, Inc. (b)		40,686		242,489
Capstar Financial Holdings, Inc. (b)		6,413		128,901
Carter Bankshares, Inc. (a) (b)		4,804		60,723
Cathay General Bancorp (b)		22,531		852,348
Central Pacific Financial Corp. (b)		8,161		161,180
Central Valley Community Bancorp		3,447		68,561
Chemung Financial Corp. (b)		1,214		51,571
ChoiceOne Financial Services, Inc. (b)		2,407		65,831
Citizens & Northern Corp. (b)		4,168		78,275
Citizens Financial Services, Inc. (b)		1,503		73,948
City Holding Co. (b)		4,733		493,273
Civista Bancshares, Inc.		5,230		80,437
CNB Financial Corp.		6,782		138,285
Coastal Financial Corp. (a) (b)		3,437		133,596
Codorus Valley Bancorp, Inc. (b)		3,294		74,971
Colony Bankcorp, Inc. (b)		1,850		21,275
Columbia Financial, Inc. (a) (b)		8,867		152,601
Community Bank System, Inc. (b)		17,062		819,488
Community Trust Bancorp, Inc.		5,081		216,705
ConnectOne Bancorp, Inc.		12,128		236,496
CrossFirst Bankshares, Inc. (a)		16,519		228,623
Customers Bancorp, Inc. (a) (b)		9,474		502,690

BHFTII-191

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Banks—(Continued)
CVB Financial Corp. (b)		42,500	$	758,200
Dime Community Bancshares, Inc. (b)		11,336		218,331
Eagle Bancorp, Inc. (b)		9,983		234,501
Eastern Bankshares, Inc. (b)		50,661		698,109
Enterprise Bancorp, Inc. (b)		3,354		87,103
Enterprise Financial Services Corp.		12,204		494,994
Equity Bancshares, Inc. - Class A (b)		4,632		159,202
Esquire Financial Holdings, Inc.		2,392		113,548
ESSA Bancorp, Inc. (b)		3,011		54,891
Evans Bancorp, Inc. (b)		1,818		54,285
Farmers & Merchants Bancorp, Inc. (b)		4,130		92,058
Farmers National Banc Corp.		11,007		147,054
FB Financial Corp.		11,027		415,277
Fidelity D&D Bancorp, Inc. (b)		1,594		77,197
Financial Institutions, Inc.		4,838		91,051
First BanCorp		54,903		962,999
First Bancorp, Inc.		3,758		92,597
First Bancorp/Southern Pines NC (b)		12,931		467,068
First Bancshares, Inc.		10,228		265,417
First Bank (b)		5,582		76,697
First Busey Corp.		16,699		401,611
First Business Financial Services, Inc.		2,763		103,613
First Commonwealth Financial Corp.		31,474		438,118
First Community Bankshares, Inc. (b)		5,650		195,659
First Financial Bancorp (b)		31,251		700,647
First Financial Bankshares, Inc. (b)		42,017		1,378,578
First Financial Corp.		3,977		152,438
First Foundation, Inc. (b)		11,514		86,931
First Interstate BancSystem, Inc. - Class A		26,124		710,834
First Merchants Corp.		19,730		688,577
First Mid Bancshares, Inc. (b)		7,438		243,074
First of Long Island Corp.		7,024		77,896
Five Star Bancorp (b)		5,331		119,948
Flushing Financial Corp.		7,942		100,149
FS Bancorp, Inc.		2,273		78,896
Fulton Financial Corp. (b)		50,940		809,437
FVCBankcorp, Inc. (a)(b)		5,163		62,885
German American Bancorp, Inc. (b)		9,350		323,884
Glacier Bancorp, Inc. (b)		35,676		1,437,029
Great Southern Bancorp, Inc. (b)		2,712		148,672
Greene County Bancorp, Inc. (b)		2,424		69,787
Guaranty Bancshares, Inc. (b)		2,906		88,226
Hancock Whitney Corp.		27,961		1,287,324
Hanmi Financial Corp.		9,877		157,242
HarborOne Bancorp, Inc.		12,594		134,252
HBT Financial, Inc. (b)		4,583		87,260
Heartland Financial USA, Inc.		13,834		486,265
Heritage Commerce Corp. (b)		19,266		165,302
Heritage Financial Corp.		12,295		238,400
Hilltop Holdings, Inc.		15,705		491,881
Hingham Institution For Savings The (b)		473		82,520
Home Bancorp, Inc. (b)		2,776		106,349
Home BancShares, Inc. (b)		61,694		1,515,822
HomeStreet, Inc.		6,159		92,693
HomeTrust Bancshares, Inc.		5,432		148,511
Hope Bancorp, Inc. (b)		35,942		413,692
Horizon Bancorp, Inc.		14,606		187,395

Banks—(Continued)
Independent Bank Corp. (b)		21,792		936,928
Independent Bank Group, Inc.		11,996		547,617
International Bancshares Corp.		17,329		972,850
John Marshall Bancorp, Inc. (b)		4,296		76,984
Kearny Financial Corp.		14,679		94,533
Lakeland Bancorp, Inc.		21,117		255,516
Lakeland Financial Corp. (b)		7,696		510,399
LCNB Corp. (b)		3,649		58,165
Live Oak Bancshares, Inc. (b)		11,266		467,652
Macatawa Bank Corp. (b)		4,762		46,620
Mercantile Bank Corp.		5,350		205,921
Metrocity Bankshares, Inc. (b)		5,632		140,575
Metropolitan Bank Holding Corp. (a) (b)		3,249		125,086
Mid Penn Bancorp, Inc.		5,091		101,871
Middlefield Banc Corp. (b)		2,691		64,261
Midland States Bancorp, Inc.		6,845		172,015
MidWestOne Financial Group, Inc. (b)		4,795		112,395
MVB Financial Corp. (b)		3,791		84,577
National Bank Holdings Corp. - Class A		12,399		447,232
National Bankshares, Inc. (b)		1,983		66,252
NBT Bancorp, Inc. (b)		15,340		562,671
Nicolet Bankshares, Inc. (b)		4,330		372,337
Northeast Bank		2,320		128,389
Northeast Community Bancorp, Inc.		4,595		72,279
Northfield Bancorp, Inc.		12,077		117,388
Northrim BanCorp, Inc.		1,883		95,110
Northwest Bancshares, Inc. (b)		39,667		462,121
Norwood Financial Corp. (b)		2,522		68,624
Oak Valley Bancorp (b)		2,317		57,415
OceanFirst Financial Corp.		18,257		299,597
OFG Bancorp		15,488		570,113
Old National Bancorp (b)		94,993		1,653,828
Old Second Bancorp, Inc.		11,231		155,437
Orange County Bancorp, Inc. (b)		1,834		84,364
Origin Bancorp, Inc. (b)		9,835		307,245
Orrstown Financial Services, Inc.		3,982		106,598
Pacific Premier Bancorp, Inc. (b)		31,429		754,296
Park National Corp. (b)		4,553		618,525
Parke Bancorp, Inc. (b)		3,496		60,219
Pathward Financial, Inc.		8,004		404,042
PCB Bancorp (b)		4,027		65,761
Peapack-Gladstone Financial Corp.		6,072		147,732
Penns Woods Bancorp, Inc. (b)		2,355		45,711
Peoples Bancorp, Inc. (b)		11,263		333,497
Peoples Financial Services Corp.		2,533		109,198
Plumas Bancorp (b)		1,875		68,981
Ponce Financial Group, Inc. (a)		6,463		57,521
Preferred Bank (b)		4,191		321,743
Premier Financial Corp.		11,932		242,220
Primis Financial Corp.		7,589		92,358
Princeton Bancorp, Inc.		1,758		54,111
Provident Financial Services, Inc.		24,532		357,431
QCR Holdings, Inc.		5,564		337,957
RBB Bancorp (b)		4,676		84,215
Red River Bancshares, Inc. (b)		1,618		80,560
Renasant Corp.		17,894		560,440
Republic Bancorp, Inc. - Class A (b)		3,075		156,825

BHFTII-192

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Banks—(Continued)
S&T Bancorp, Inc. (b)		12,235	$	392,499
Sandy Spring Bancorp, Inc.		13,652		316,453
Seacoast Banking Corp. of Florida		26,573		674,688
ServisFirst Bancshares, Inc. (b)		16,528		1,096,798
Shore Bancshares, Inc. (b)		10,221		117,542
Sierra Bancorp		3,863		78,033
Simmons First National Corp. - Class A (b)		40,253		783,323
SmartFinancial, Inc.		5,462		115,084
South Plains Financial, Inc.		3,888		104,043
Southern First Bancshares, Inc. (a)		2,574		81,750
Southern Missouri Bancorp, Inc.		3,031		132,485
Southern States Bancshares, Inc.		2,700		69,984
Southside Bancshares, Inc.		9,274		271,079
SouthState Corp. (b)		24,702		2,100,411
Stellar Bancorp, Inc.		15,697		382,379
Stock Yards Bancorp, Inc. (b)		8,761		428,501
Summit Financial Group, Inc.		4,227		114,805
Texas Capital Bancshares, Inc. (a) (b)		14,843		913,587
Third Coast Bancshares, Inc. (a) (b)		4,809		96,276
Timberland Bancorp, Inc. (b)		2,592		69,777
Tompkins Financial Corp. (b)		4,590		230,831
Towne Bank		23,282		653,293
TriCo Bancshares (b)		10,668		392,369
Triumph Financial, Inc. (a) (b)		6,975		553,257
TrustCo Bank Corp.		5,837		164,370
Trustmark Corp. (b)		20,462		575,187
UMB Financial Corp.		14,039		1,221,253
United Bankshares, Inc.		42,467		1,519,894
United Community Banks, Inc.		37,372		983,631
Unity Bancorp, Inc. (b)		2,408		66,461
Univest Financial Corp.		9,428		196,291
Valley National Bancorp (b)		134,643		1,071,758
Veritex Holdings, Inc.		17,694		362,550
Virginia National Bankshares Corp. (b)		1,715		51,622
WaFd, Inc.		21,895		635,612
Washington Trust Bancorp, Inc. (b)		5,542		148,969
WesBanco, Inc. (b)		19,306		575,512
West BanCorp, Inc. (b)		5,498		98,029
Westamerica BanCorp		7,906		386,445
WSFS Financial Corp. (b)		19,776		892,689

				72,656,646


Beverages—0.4%
Coca-Cola Consolidated, Inc.		1,548		1,310,243
Duckhorn Portfolio, Inc. (a) (b)		17,784		165,569
MGP Ingredients, Inc. (b)		5,324		458,556
National Beverage Corp. (a) (b)		7,368		349,685
Primo Water Corp.		49,033		892,891
Vita Coco Co., Inc. (a)		12,342		301,515

				3,478,459


Biotechnology—7.6%
2seventy bio, Inc. (a) (b)		6,864		36,722
4D Molecular Therapeutics, Inc. (a) (b)		13,421		427,593
89bio, Inc. (a) (b)		25,587		297,833
ACADIA Pharmaceuticals, Inc. (a)		40,490		748,660

Biotechnology—(Continued)
ACELYRIN, Inc. (a)		24,077		162,520
Actinium Pharmaceuticals, Inc. (a) (b)		8,804		68,935
ADMA Biologics, Inc. (a) (b)		68,870		454,542
Aerovate Therapeutics, Inc. (a) (b)		3,363		99,444
Agenus, Inc. (a) (b)		126,398		73,311
Agios Pharmaceuticals, Inc. (a)		18,399		537,987
Akero Therapeutics, Inc. (a)		20,477		517,249
Aldeyra Therapeutics, Inc. (a)		15,823		51,741
Alector, Inc. (a)		20,549		123,705
Alkermes PLC (a) (b)		53,879		1,458,505
Allogene Therapeutics, Inc. (a) (b)		30,883		138,047
Alpine Immune Sciences, Inc. (a)		12,417		492,210
Altimmune, Inc. (a) (b)		16,737		170,383
ALX Oncology Holdings, Inc. (a) (b)		9,262		103,271
Amicus Therapeutics, Inc. (a)		91,320		1,075,750
AnaptysBio, Inc. (a)		7,034		158,406
Anavex Life Sciences Corp. (a) (b)		15,309		77,923
Anika Therapeutics, Inc. (a)		4,948		125,679
Annexon, Inc. (a) (b)		22,064		158,199
Apogee Therapeutics, Inc. (a) (b)		13,380		889,101
Arbutus Biopharma Corp. (a)		41,612		107,359
Arcellx, Inc. (a) (b)		12,248		851,848
Arcturus Therapeutics Holdings, Inc. (a) (b)		7,412		250,303
Arcus Biosciences, Inc. (a) (b)		17,324		327,077
Arcutis Biotherapeutics, Inc. (a) (b)		27,862		276,112
Ardelyx, Inc. (a) (b)		72,209		527,126
ArriVent Biopharma, Inc. (a) (b)		3,475		62,063
Arrowhead Pharmaceuticals, Inc. (a)		37,726		1,078,964
ARS Pharmaceuticals, Inc. (a) (b)		8,767		89,599
Astria Therapeutics, Inc. (a) (b)		16,175		227,663
Aura Biosciences, Inc. (a) (b)		9,525		74,771
Aurinia Pharmaceuticals, Inc. (a) (b)		46,041		230,665
Avid Bioservices, Inc. (a) (b)		13,554		90,812
Avidity Biosciences, Inc. (a) (b)		23,745		605,972
Avita Medical, Inc. (a) (b)		8,679		139,124
Beam Therapeutics, Inc. (a) (b)		24,225		800,394
BioCryst Pharmaceuticals, Inc. (a) (b)		53,623		272,405
Biohaven Ltd. (a) (b)		22,079		1,207,501
Biomea Fusion, Inc. (a) (b)		6,771		101,226
Bluebird Bio, Inc. (a) (b)		63,306		81,032
Blueprint Medicines Corp. (a) (b)		19,743		1,872,821
Bridgebio Pharma, Inc. (a) (b)		37,198		1,150,162
Cabaletta Bio, Inc. (a)		11,650		198,749
CareDx, Inc. (a)		17,647		186,882
Cargo Therapeutics, Inc. (a) (b)		7,116		158,829
Caribou Biosciences, Inc. (a) (b)		25,882		133,033
Catalyst Pharmaceuticals, Inc. (a)		35,934		572,788
Celcuity, Inc. (a) (b)		5,835		126,036
Celldex Therapeutics, Inc. (a) (b)		20,020		840,239
Cerevel Therapeutics Holdings, Inc. (a)		23,143		978,255
CG oncology, Inc. (a)		7,630		334,957
Cogent Biosciences, Inc. (a) (b)		27,046		181,749
Coherus Biosciences, Inc. (a) (b)		34,819		83,217
Compass Therapeutics, Inc. (a) (b)		32,349		64,051
Crinetics Pharmaceuticals, Inc. (a)		21,639		1,012,922
Cullinan Oncology, Inc. (a)		7,747		132,009
Cytokinetics, Inc. (a) (b)		30,726		2,154,200

BHFTII-193

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Biotechnology—(Continued)
Day One Biopharmaceuticals, Inc. (a) (b)		21,272	$	351,413
Deciphera Pharmaceuticals, Inc. (a)		17,465		274,724
Denali Therapeutics, Inc. (a) (b)		39,602		812,633
Disc Medicine, Inc. (a) (b)		3,048		189,768
Dynavax Technologies Corp. (a) (b)		43,478		539,562
Dyne Therapeutics, Inc. (a) (b)		19,212		545,429
Editas Medicine, Inc. (a) (b)		22,692		168,375
Enanta Pharmaceuticals, Inc. (a)		6,820		119,077
Entrada Therapeutics, Inc. (a) (b)		7,438		105,396
Erasca, Inc. (a)		28,751		59,227
Fate Therapeutics, Inc. (a) (b)		22,691		166,552
Fennec Pharmaceuticals, Inc. (a)		6,156		68,455
FibroGen, Inc. (a)		11,938		28,054
Generation Bio Co. (a) (b)		15,351		62,479
Geron Corp. (a) (b)		165,935		547,585
Gritstone bio, Inc. (a) (b)		30,026		77,167
Halozyme Therapeutics, Inc. (a) (b)		42,169		1,715,435
Heron Therapeutics, Inc. (a) (b)		19,320		53,516
HilleVax, Inc. (a)		9,157		152,281
Humacyte, Inc. (a) (b)		21,534		66,971
Ideaya Biosciences, Inc. (a) (b)		21,190		929,817
IGM Biosciences, Inc. (a) (b)		4,607		44,458
ImmunityBio, Inc. (a) (b)		43,074		231,307
Immunovant, Inc. (a)		18,112		585,199
Inhibrx, Inc. (a)		11,523		402,844
Inozyme Pharma, Inc. (a)		9,560		73,230
Insmed, Inc. (a) (b)		44,661		1,211,653
Intellia Therapeutics, Inc. (a) (b)		29,573		813,553
Iovance Biotherapeutics, Inc. (a) (b)		77,033		1,141,629
Ironwood Pharmaceuticals, Inc. (a) (b)		44,956		391,567
iTeos Therapeutics, Inc. (a) (b)		7,999		109,106
Janux Therapeutics, Inc. (a)		5,711		215,019
KalVista Pharmaceuticals, Inc. (a) (b)		10,671		126,558
Karyopharm Therapeutics, Inc. (a) (b)		38,164		57,628
Keros Therapeutics, Inc. (a) (b)		8,284		548,401
Kiniksa Pharmaceuticals Ltd. - Class A (a) (b)		11,087		218,747
Kodiak Sciences, Inc. (a)		4,005		21,066
Krystal Biotech, Inc. (a) (b)		6,957		1,237,859
Kura Oncology, Inc. (a)		23,723		506,012
Kymera Therapeutics, Inc. (a) (b)		12,984		521,957
Larimar Therapeutics, Inc. (a) (b)		8,858		67,232
Lexeo Therapeutics, Inc. (a)		3,669		57,530
Lexicon Pharmaceuticals, Inc. (a)		14,828		35,587
Lineage Cell Therapeutics, Inc. (a) (b)		44,685		66,134
Lyell Immunopharma, Inc. (a) (b)		58,407		130,248
MacroGenics, Inc. (a) (b)		21,437		315,553
Madrigal Pharmaceuticals, Inc. (a) (b)		4,763		1,271,912
MannKind Corp. (a) (b)		84,309		381,920
MeiraGTx Holdings PLC (a) (b)		3,480		21,124
Merrimack Pharmaceuticals, Inc. (a)		3,568		52,699
Mersana Therapeutics, Inc. (a) (b)		28,728		128,701
MiMedx Group, Inc. (a) (b)		33,087		254,770
Mineralys Therapeutics, Inc. (a) (b)		7,262		93,752
Mirum Pharmaceuticals, Inc. (a) (b)		8,984		225,678
Monte Rosa Therapeutics, Inc. (a)		4,946		34,869
Morphic Holding, Inc. (a) (b)		12,348		434,650
Myriad Genetics, Inc. (a)		27,414		584,466

Biotechnology—(Continued)
Nkarta, Inc. (a)		10,148		109,700
Novavax, Inc. (a) (b)		36,869		176,234
Nurix Therapeutics, Inc. (a)		15,059		221,367
Nuvalent, Inc. - Class A (a) (b)		8,917		669,578
Olema Pharmaceuticals, Inc. (a) (b)		9,480		107,314
Organogenesis Holdings, Inc. (a) (b)		23,405		66,470
ORIC Pharmaceuticals, Inc. (a) (b)		13,189		181,349
Ovid therapeutics, Inc. (a)		5,252		16,019
PDS Biotechnology Corp. (a) (b)		9,593		37,988
PepGen, Inc. (a) (b)		3,652		53,684
Poseida Therapeutics, Inc. (a) (b)		10,430		33,272
Precigen, Inc. (a) (b)		43,957		63,738
Prime Medicine, Inc. (a) (b)		13,523		94,661
Protagonist Therapeutics, Inc. (a)		18,188		526,179
Prothena Corp. PLC (a) (b)		13,899		344,278
PTC Therapeutics, Inc. (a) (b)		23,732		690,364
RAPT Therapeutics, Inc. (a)		10,106		90,752
Recursion Pharmaceuticals, Inc. - Class A (a) (b)		46,662		465,220
REGENXBIO, Inc. (a) (b)		13,089		275,785
Relay Therapeutics, Inc. (a) (b)		28,711		238,301
Replimune Group, Inc. (a) (b)		16,949		138,473
Revolution Medicines, Inc. (a)		44,880		1,446,482
Rhythm Pharmaceuticals, Inc. (a) (b)		17,251		747,486
Rigel Pharmaceuticals, Inc. (a)		56,766		84,014
Rocket Pharmaceuticals, Inc. (a) (b)		20,993		565,551
Sage Therapeutics, Inc. (a) (b)		17,540		328,700
Sana Biotechnology, Inc. (a) (b)		30,778		307,780
Savara, Inc. (a) (b)		22,120		110,158
Scholar Rock Holding Corp. (a) (b)		18,653		331,277
SpringWorks Therapeutics, Inc. (a) (b)		22,046		1,085,104
Stoke Therapeutics, Inc. (a) (b)		2,964		40,014
Summit Therapeutics, Inc. (a) (b)		40,272		166,726
Sutro Biopharma, Inc. (a) (b)		20,160		113,904
Syndax Pharmaceuticals, Inc. (a)		25,415		604,877
Tango Therapeutics, Inc. (a) (b)		16,583		131,669
Tenaya Therapeutics, Inc. (a) (b)		16,413		85,840
TG Therapeutics, Inc. (a) (b)		45,999		699,645
Travere Therapeutics, Inc. (a)		18,999		146,482
Twist Bioscience Corp. (a) (b)		19,106		655,527
Tyra Biosciences, Inc. (a) (b)		4,942		81,049
UroGen Pharma Ltd. (a) (b)		9,304		139,560
Vanda Pharmaceuticals, Inc. (a)		18,775		77,165
Vaxcyte, Inc. (a) (b)		33,984		2,321,447
Vera Therapeutics, Inc. (a) (b)		13,017		561,293
Veracyte, Inc. (a) (b)		24,557		544,183
Vericel Corp. (a) (b)		15,505		806,570
Verve Therapeutics, Inc. (a) (b)		21,595		286,782
Viking Therapeutics, Inc. (a) (b)		32,929		2,700,178
Vir Biotechnology, Inc. (a) (b)		28,085		284,501
Viridian Therapeutics, Inc. (a) (b)		16,116		282,191
Voyager Therapeutics, Inc. (a) (b)		10,699		99,608
Xencor, Inc. (a)		19,810		438,395
XOMA Corp. (a) (b)		2,528		60,798
Y-mAbs Therapeutics, Inc. (a) (b)		12,818		208,421
Zentalis Pharmaceuticals, Inc. (a) (b)		19,529		307,777
Zymeworks, Inc. (a)		18,380		193,358

				67,324,403

BHFTII-194

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Broadline Retail—0.1%
ContextLogic, Inc. - Class A (a) (b)		8,312	$	47,295
Dillard’s, Inc. - Class A (b)		1,105		521,162
Savers Value Village, Inc. (a)		8,917		171,920

				740,377


Building Products—2.0%
AAON, Inc.		21,974		1,935,909
American Woodmark Corp. (a)		5,084		516,839
Apogee Enterprises, Inc. (b)		7,504		444,237
AZZ, Inc. (b)		8,063		623,351
CSW Industrials, Inc. (b)		4,983		1,169,012
Gibraltar Industries, Inc. (a)		9,835		792,013
Griffon Corp.		12,668		929,071
Insteel Industries, Inc.		5,906		225,727
Janus International Group, Inc. (a)		28,699		434,216
JELD-WEN Holding, Inc. (a)		25,906		549,984
Masonite International Corp. (a)		7,104		933,821
Masterbrand, Inc. (a)		41,459		776,942
Quanex Building Products Corp. (b)		10,969		421,539
Resideo Technologies, Inc. (a) (b)		46,956		1,052,753
Simpson Manufacturing Co., Inc.		13,712		2,813,428
UFP Industries, Inc.		19,470		2,395,005
Zurn Elkay Water Solutions Corp. - Class C (b)		47,998		1,606,493

				17,620,340


Capital Markets—1.3%
AlTi Global, Inc. (a)(b)		7,628		43,174
Artisan Partners Asset Management, Inc. - Class A (b)		19,313		883,956
AssetMark Financial Holdings, Inc. (a)		7,299		258,458
B Riley Financial, Inc. (b)		6,563		138,939
BGC Group, Inc. - Class A (b)		113,666		883,185
Brightsphere Investment Group, Inc.		11,092		253,341
Cohen & Steers, Inc. (b)		8,580		659,716
Diamond Hill Investment Group, Inc. (b)		815		125,649
Donnelley Financial Solutions, Inc. (a)		7,848		486,654
Forge Global Holdings, Inc. (a) (b)		38,550		74,402
GCM Grosvenor, Inc. - Class A (b)		15,754		152,184
Hamilton Lane, Inc. - Class A		11,780		1,328,313
Moelis & Co. - Class A		21,682		1,230,887
Open Lending Corp. - Class A (a)		33,748		211,262
P10, Inc. - Class A (b)		14,767		124,338
Patria Investments Ltd. - Class A (b)		18,491		274,406
Perella Weinberg Partners		13,187		186,332
Piper Sandler Cos.		5,539		1,099,436
PJT Partners, Inc. - Class A (b)		7,480		705,065
Silvercrest Asset Management Group, Inc. - Class A (b)		3,311		52,347
StepStone Group, Inc. - Class A		18,138		648,252
StoneX Group, Inc. (a)		8,695		610,911
Victory Capital Holdings, Inc. - Class A		8,382		355,648
Virtus Investment Partners, Inc.		2,118		525,222
WisdomTree, Inc. (b)		44,568		409,580

				11,721,657


Chemicals—1.8%
AdvanSix, Inc.		9,088		259,917
American Vanguard Corp.		7,328		94,898

Chemicals—(Continued)
Arcadium Lithium PLC (a) (b)		322,817		1,391,341
Aspen Aerogels, Inc. (a)		17,010		299,376
Avient Corp.		29,282		1,270,839
Balchem Corp. (b)		10,355		1,604,507
Cabot Corp. (b)		17,466		1,610,365
Core Molding Technologies, Inc. (a)		2,627		49,729
Ecovyst, Inc. (a)		27,404		305,554
Hawkins, Inc. (b)		6,003		461,030
HB Fuller Co.		17,350		1,383,489
Ingevity Corp. (a)		11,894		567,344
Innospec, Inc.		8,094		1,043,640
Intrepid Potash, Inc. (a) (b)		3,574		74,554
Koppers Holdings, Inc. (b)		6,870		379,018
Kronos Worldwide, Inc. (b)		4,332		51,118
LSB Industries, Inc. (a)		12,755		111,989
Mativ Holdings, Inc. (b)		16,204		303,825
Minerals Technologies, Inc.		10,518		791,795
Orion SA		18,831		442,905
Perimeter Solutions SA (a) (b)		53,195		394,707
PureCycle Technologies, Inc. (a) (b)		39,340		244,695
Quaker Chemical Corp. (b)		4,562		936,350
Rayonier Advanced Materials, Inc. (a)		20,751		99,190
Sensient Technologies Corp.		13,286		919,258
Stepan Co. (b)		6,784		610,831
Trinseo PLC		11,470		43,357
Tronox Holdings PLC (b)		37,491		650,469

				16,396,090


Commercial Services & Supplies—1.5%
ABM Industries, Inc.		20,267		904,313
ACCO Brands Corp. (b)		29,850		167,458
ACV Auctions, Inc. - Class A (a) (b)		42,821		803,750
Aris Water Solutions, Inc. - Class A		10,439		147,712
BrightView Holdings, Inc. (a)		9,908		117,905
Brink’s Co.		14,378		1,328,240
Casella Waste Systems, Inc. - Class A (a) (b)		18,317		1,811,002
CECO Environmental Corp. (a)		9,985		229,855
Cimpress PLC (a)		6,001		531,148
CoreCivic, Inc. (a) (b)		37,336		582,815
Deluxe Corp. (b)		14,396		296,414
Ennis, Inc. (b)		6,941		142,360
Enviri Corp. (a) (b)		21,093		193,001
GEO Group, Inc. (a) (b)		38,865		548,774
Healthcare Services Group, Inc. (a)		24,352		303,913
HNI Corp.		15,255		688,458
Interface, Inc.		19,325		325,046
Liquidity Services, Inc. (a)		7,856		146,122
Matthews International Corp. - Class A		9,973		309,961
MillerKnoll, Inc. (b)		24,387		603,822
Montrose Environmental Group, Inc. (a) (b)		9,033		353,823
OPENLANE, Inc. (a) (b)		36,524		631,865
Performant Financial Corp. (a) (b)		22,316		65,609
Pitney Bowes, Inc. (b)		56,610		245,121
Quad/Graphics, Inc. (b)		10,019		53,201
SP Plus Corp. (a)		6,829		356,610
Steelcase, Inc. - Class A (b)		29,276		382,930

BHFTII-195

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Commercial Services & Supplies—(Continued)
UniFirst Corp.		4,785	$	829,863
Viad Corp. (a)		6,618		261,345
VSE Corp. (b)		4,282		342,560

				13,704,996


Communications Equipment—0.5%
ADTRAN Holdings, Inc.		25,457		138,486
Aviat Networks, Inc. (a) (b)		3,608		138,331
Calix, Inc. (a) (b)		19,781		655,938
Clearfield, Inc. (a) (b)		4,399		135,665
CommScope Holding Co., Inc. (a)		68,722		90,026
Digi International, Inc. (a) (b)		11,390		363,683
Extreme Networks, Inc. (a)		39,436		455,092
Harmonic, Inc. (a) (b)		33,755		453,667
Infinera Corp. (a) (b)		53,865		324,806
NETGEAR, Inc. (a)		10,251		161,658
NetScout Systems, Inc. (a)		22,412		489,478
Ribbon Communications, Inc. (a) (b)		29,271		93,667
Viavi Solutions, Inc. (a)		69,693		633,509

				4,134,006


Construction & Engineering—1.9%
Ameresco, Inc. - Class A (a) (b)		10,710		258,432
API Group Corp. (a) (b)		67,858		2,664,784
Arcosa, Inc.		15,614		1,340,618
Argan, Inc.		4,530		228,946
Bowman Consulting Group Ltd. (a)		3,487		121,313
Comfort Systems USA, Inc.		11,345		3,604,420
Concrete Pumping Holdings, Inc. (a)		3,562		28,140
Construction Partners, Inc. - Class A (a) (b)		13,798		774,758
Dycom Industries, Inc. (a)		9,366		1,344,302
Fluor Corp. (a)		46,269		1,956,253
Granite Construction, Inc.		13,994		799,477
Great Lakes Dredge & Dock Corp. (a)		21,171		185,246
IES Holdings, Inc. (a)		2,464		299,721
Limbach Holdings, Inc. (a) (b)		3,105		128,609
MYR Group, Inc. (a) (b)		5,246		927,231
Northwest Pipe Co. (a) (b)		3,497		121,276
Primoris Services Corp.		17,171		730,970
Sterling Infrastructure, Inc. (a)		9,469		1,044,525
Tutor Perini Corp. (a)		11,246		162,617

				16,721,638


Construction Materials—0.4%
Knife River Corp. (a)		18,392		1,491,223
Summit Materials, Inc. - Class A (a)		38,749		1,727,043
U.S. Lime & Minerals, Inc.		603		179,779

				3,398,045


Consumer Finance—0.7%
Atlanticus Holdings Corp. (a)		1,591		47,078
Bread Financial Holdings, Inc.		15,763		587,014
Encore Capital Group, Inc. (a) (b)		7,642		348,552
Enova International, Inc. (a)		9,279		582,999
FirstCash Holdings, Inc.		12,226		1,559,304

Consumer Finance—(Continued)
Green Dot Corp. - Class A (a)		15,130		141,163
LendingClub Corp. (a) (b)		29,471		259,050
LendingTree, Inc. (a)		3,468		146,835
Navient Corp.		26,397		459,308
Nelnet, Inc. - Class A (b)		4,303		407,279
NerdWallet, Inc. - Class A (a)		11,864		174,401
PRA Group, Inc. (a) (b)		12,838		334,815
PROG Holdings, Inc.		14,229		490,047
Regional Management Corp.		3,196		77,375
Upstart Holdings, Inc. (a) (b)		24,285		653,024
World Acceptance Corp. (a)		1,225		177,600

				6,445,844


Consumer Staples Distribution & Retail—0.6%
Andersons, Inc. (b)		10,418		597,681
Chefs’ Warehouse, Inc. (a) (b)		11,522		433,919
HF Foods Group, Inc. (a)		13,402		46,907
Ingles Markets, Inc. - Class A (b)		4,441		340,536
Natural Grocers by Vitamin Cottage, Inc. (b)		3,115		56,226
PriceSmart, Inc.		8,107		680,988
SpartanNash Co. (b)		10,739		217,035
Sprouts Farmers Market, Inc. (a) (b)		32,875		2,119,780
United Natural Foods, Inc. (a)		19,180		220,378
Village Super Market, Inc. - Class A (b)		2,910		83,255
Weis Markets, Inc. (b)		5,056		325,606

				5,122,311


Containers & Packaging—0.3%
Greif, Inc. - Class A (b)		8,109		559,926
Greif, Inc. - Class B		1,893		131,601
Myers Industries, Inc.		11,721		271,576
O-I Glass, Inc. (a)		48,529		805,096
Pactiv Evergreen, Inc.		13,836		198,132
Ranpak Holdings Corp. (a)		14,076		110,778
TriMas Corp.		12,453		332,869

				2,409,978


Distributors—0.0%
Weyco Group, Inc. (b)		2,058		65,609


Diversified Consumer Services—1.0%
Adtalem Global Education, Inc. (a)		12,405		637,617
Carriage Services, Inc.		4,082		110,377
Chegg, Inc. (a)		32,508		246,086
Coursera, Inc. (a) (b)		43,951		616,193
Duolingo, Inc. (a)		9,512		2,098,157
European Wax Center, Inc. - Class A (a) (b)		11,678		151,580
Frontdoor, Inc. (a)		26,761		871,873
Graham Holdings Co. - Class B		1,141		875,923
Laureate Education, Inc.		43,993		640,978
Lincoln Educational Services Corp. (a)		3,891		40,194
Nerdy, Inc. (a) (b)		6,382		18,572
OneSpaWorld Holdings Ltd. (a)		27,979		370,162
Perdoceo Education Corp. (b)		21,331		374,572
Strategic Education, Inc.		7,318		761,950

BHFTII-196

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Diversified Consumer Services—(Continued)
Stride, Inc. (a) (b)		13,518	$	852,310
Udemy, Inc. (a) (b)		29,152		320,089
Universal Technical Institute, Inc. (a)		12,954		206,487

				9,193,120


Diversified REITs—0.5%
Alexander & Baldwin, Inc.		23,869		393,122
Alpine Income Property Trust, Inc. (b)		4,463		68,195
American Assets Trust, Inc.		15,450		338,509
Armada Hoffler Properties, Inc.		22,515		234,156
Broadstone Net Lease, Inc.		60,824		953,112
CTO Realty Growth, Inc.		7,842		132,922
Empire State Realty Trust, Inc. - Class A (b)		40,787		413,172
Essential Properties Realty Trust, Inc. (b)		50,532		1,347,183
Gladstone Commercial Corp. (b)		13,245		183,311
Global Net Lease, Inc. (b)		60,023		466,379
NexPoint Diversified Real Estate Trust		11,230		74,118
One Liberty Properties, Inc. (b)		5,452		123,161

				4,727,340


Diversified Telecommunication Services—0.4%
Anterix, Inc. (a)		4,294		144,321
AST SpaceMobile, Inc. (a) (b)		38,780		112,462
ATN International, Inc.		3,399		107,086
Bandwidth, Inc. - Class A (a)		8,108		148,052
Cogent Communications Holdings, Inc. (b)		13,822		902,991
Consolidated Communications Holdings, Inc. (a) (b)		24,354		105,209
Globalstar, Inc. (a) (b)		233,318		342,977
IDT Corp. - Class B (b)		5,006		189,277
Liberty Latin America Ltd. - Class A (a) (b)		11,682		81,424
Liberty Latin America Ltd. - Class C (a ) (b)		41,829		292,385
Lumen Technologies, Inc. (a) (b)		324,457		506,153
Ooma, Inc. (a)		3,799		32,405
Shenandoah Telecommunications Co.		16,904		293,623

				3,258,365


Electric Utilities—0.6%
ALLETE, Inc. (b)		18,648		1,112,167
Genie Energy Ltd. - Class B (b)		6,623		99,875
MGE Energy, Inc. (b)		11,477		903,469
Otter Tail Corp. (b)		13,109		1,132,618
PNM Resources, Inc.		27,482		1,034,422
Portland General Electric Co. (b)		32,852		1,379,784

				5,662,335


Electrical Equipment—1.4%
Allient, Inc.		4,654		166,055
Array Technologies, Inc. (a) (b)		51,455		767,194
Atkore, Inc. (b)		11,975		2,279,561
Blink Charging Co. (a) (b)		19,142		57,617
Bloom Energy Corp. - Class A (a) (b)		64,618		726,306
Encore Wire Corp. (b)		4,831		1,269,490
Energy Vault Holdings, Inc. (a) (b)		35,327		63,235
EnerSys		12,936		1,221,935
Enovix Corp. (a) (b)		46,168		369,806
Eos Energy Enterprises, Inc. (a) (b)		55,165		56,820

Electrical Equipment—(Continued)
Fluence Energy, Inc. (a) (b)		19,348		335,494
FuelCell Energy, Inc. (a)		148,470		176,679
GrafTech International Ltd. (b)		62,937		86,853
LSI Industries, Inc.		8,816		133,298
NEXTracker, Inc. - Class A (a) (b)		40,926		2,302,906
NuScale Power Corp. (a)		18,794		99,796
Powell Industries, Inc.		2,983		424,481
Preformed Line Products Co.		876		112,715
SES AI Corp. (a) (b)		44,088		74,068
Shoals Technologies Group, Inc. - Class A (a) (b)		57,645		644,471
Stem, Inc. (a) (b)		49,070		107,463
SunPower Corp. (a) (b)		28,926		86,778
Thermon Group Holdings, Inc. (a)		11,598		379,487
Vicor Corp. (a)		7,241		276,896

				12,219,404


Electronic Equipment, Instruments & Components—2.5%
908 Devices, Inc. (a) (b)		7,715		58,248
Advanced Energy Industries, Inc.		12,128		1,236,813
Arlo Technologies, Inc. (a) (b)		29,346		371,227
Badger Meter, Inc. (b)		9,517		1,539,946
Bel Fuse, Inc. - Class B		3,517		212,110
Belden, Inc. (b)		13,315		1,233,102
Benchmark Electronics, Inc.		11,135		334,161
Climb Global Solutions, Inc. (b)		1,406		99,657
CTS Corp. (b)		10,302		482,031
Daktronics, Inc. (a)		8,775		87,399
ePlus, Inc. (a)		8,442		663,035
Evolv Technologies Holdings, Inc. (a) (b)		27,038		120,319
Fabrinet (a) (b)		11,942		2,257,277
FARO Technologies, Inc. (a)		6,602		142,009
Insight Enterprises, Inc. (a) (b) (c)		9,050		1,678,956
Iteris, Inc. (a) (b)		14,165		69,975
Itron, Inc. (a) (b)		14,730		1,362,820
Kimball Electronics, Inc. (a) (b)		7,836		169,649
Knowles Corp. (a)		30,951		498,311
Lightwave Logic, Inc. (a) (b)		39,253		183,704
Luna Innovations, Inc. (a) (b)		972		3,115
Methode Electronics, Inc. (b)		12,060		146,891
MicroVision, Inc. (a) (b)		62,339		114,704
Mirion Technologies, Inc. (a) (b)		67,650		769,180
Napco Security Technologies, Inc.		10,591		425,335
nLight, Inc. (a) (b)		14,866		193,258
Novanta, Inc. (a)		11,620		2,030,827
OSI Systems, Inc. (a)		5,288		755,232
Ouster, Inc. (a)		1		8
PAR Technology Corp. (a) (b)		8,919		404,566
PC Connection, Inc.		3,547		233,854
Plexus Corp. (a) (c)		8,813		835,649
Rogers Corp. (a)		5,461		648,166
Sanmina Corp. (a)		17,709		1,101,146
ScanSource, Inc. (a)		8,101		356,768
SmartRent, Inc. (a) (b)		62,526		167,570
TTM Technologies, Inc. (a)		31,667		495,589
Vishay Intertechnology, Inc. (b)		41,749		946,867
Vishay Precision Group, Inc. (a)		4,194		148,174

				22,577,648

BHFTII-197

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Energy Equipment & Services—2.5%
Archrock, Inc.		45,405	$	893,116
Atlas Energy Solutions, Inc.		5,687		128,640
Borr Drilling Ltd. (a) (b)		77,288		529,423
Bristow Group, Inc. (a)		8,308		225,978
Cactus, Inc. - Class A (b)		20,837		1,043,725
ChampionX Corp. (b)		63,526		2,279,948
Core Laboratories, Inc. (b)		15,744		268,908
Diamond Offshore Drilling, Inc. (a)		35,307		481,587
DMC Global, Inc. (a)		6,765		131,850
Dril-Quip, Inc. (a) (b)		11,785		265,516
Expro Group Holdings NV (a)		29,203		583,184
Forum Energy Technologies, Inc. (a) (b)		3,314		66,214
Helix Energy Solutions Group, Inc. (a)		44,733		484,906
Helmerich & Payne, Inc. (b)		31,532		1,326,236
Kodiak Gas Services, Inc.		5,429		148,429
Liberty Energy, Inc. (b)		53,303		1,104,438
Nabors Industries Ltd. (a) (b)		3,057		263,299
Newpark Resources, Inc. (a)		22,736		164,154
Noble Corp. PLC (b)		36,646		1,776,965
Oceaneering International, Inc. (a) (b)		33,608		786,427
Oil States International, Inc. (a)		12,815		78,940
Patterson-UTI Energy, Inc. (b)		114,501		1,367,142
ProFrac Holding Corp. - Class A (a) (b)		8,200		68,552
ProPetro Holding Corp. (a) (b)		27,695		223,776
Ranger Energy Services, Inc.		5,274		59,543
RPC, Inc. (b)		22,922		177,416
SEACOR Marine Holdings, Inc. (a)		8,136		113,416
Seadrill Ltd. (a)		15,180		763,554
Select Water Solutions, Inc.		25,925		239,288
Solaris Oilfield Infrastructure, Inc. - Class A		5,809		50,364
TETRA Technologies, Inc. (a) (b)		40,817		180,819
Tidewater, Inc. (a)		15,072		1,386,624
U.S. Silica Holdings, Inc. (a)		22,132		274,658
Valaris Ltd. (a) (b)		19,107		1,437,993
Weatherford International PLC (a)		23,098		2,665,971

				22,040,999


Entertainment—0.4%
Atlanta Braves Holdings, Inc. - Class A (a) (b)		3,713		155,575
Atlanta Braves Holdings, Inc. - Class C (a) (b)		15,245		595,470
Cinemark Holdings, Inc. (a) (b)		34,524		620,396
Eventbrite, Inc. - Class A (a) (b)		21,648		118,631
IMAX Corp. (a)		13,475		217,891
Lions Gate Entertainment Corp. - Class A (a)		16,086		160,056
Lions Gate Entertainment Corp. - Class B (a)		34,500		321,195
Madison Square Garden Entertainment Corp. (a)		13,054		511,847
Marcus Corp. (b)		8,228		117,331
Playstudios, Inc. (a)		30,841		85,738
Reservoir Media, Inc. (a) (b)		7,562		59,966
Sphere Entertainment Co. (a)		9,098		446,530
Vivid Seats, Inc. - Class A (a)		24,986		149,666

				3,560,292


Financial Services—2.4%
A-Mark Precious Metals, Inc. (b)		6,654		204,211
Acacia Research Corp. (a)		12,429		66,247
Alerus Financial Corp. (b)		6,186		135,040

Financial Services—(Continued)
AvidXchange Holdings, Inc. (a)		50,990		670,519
Banco Latinoamericano de Comercio Exterior SA		9,691		287,047
Cannae Holdings, Inc. (a) (b)		21,350		474,824
Cantaloupe, Inc. (a) (b)		18,761		120,633
Cass Information Systems, Inc. (b)		4,551		219,222
Compass Diversified Holdings		20,864		502,196
Enact Holdings, Inc.		10,654		332,192
Essent Group Ltd.		34,000		2,023,340
EVERTEC, Inc. (b)		20,964		836,464
Federal Agricultural Mortgage Corp. - Class C (b)		2,906		572,133
Flywire Corp. (a)		34,017		843,962
I3 Verticals, Inc. - Class A (a)		7,082		162,107
International Money Express, Inc. (a)		11,455		261,518
Jackson Financial, Inc. - Class A		25,757		1,703,568
Marqeta, Inc. - Class A (a)		149,733		892,409
Merchants Bancorp		4,926		212,705
Mr. Cooper Group, Inc. (a)		20,931		1,631,571
NewtekOne, Inc.		8,049		88,539
NMI Holdings, Inc. - Class A (a)		26,298		850,477
Ocwen Financial Corp. (a) (b)		2,204		59,530
Pagseguro Digital Ltd. - Class A (a)		66,936		955,846
Payoneer Global, Inc. (a) (b)		80,196		389,753
Paysafe Ltd. (a)		9,881		156,021
PennyMac Financial Services, Inc.		7,982		727,080
Radian Group, Inc. (b)		49,459		1,655,393
Remitly Global, Inc. (a) (b)		43,850		909,449
Repay Holdings Corp. (a) (b)		26,825		295,075
StoneCo Ltd. - Class A (a) (b)		94,467		1,569,097
Velocity Financial, Inc. (a) (b)		2,976		53,568
Walker & Dunlop, Inc. (b)		10,275		1,038,391
Waterstone Financial, Inc. (b)		5,854		71,243

				20,971,370


Food Products—0.9%
Alico, Inc. (b)		2,158		63,186
B&G Foods, Inc. (b)		23,543		269,332
Beyond Meat, Inc. (a) (b)		19,238		159,291
BRC, Inc. - Class A (a) (b)		10,280		43,998
Cal-Maine Foods, Inc. (b)		12,961		762,755
Calavo Growers, Inc. (b)		5,820		161,854
Dole PLC (b)		24,276		289,613
Fresh Del Monte Produce, Inc.		11,441		296,436
Hain Celestial Group, Inc. (a)		28,919		227,303
J & J Snack Foods Corp. (b)		4,697		678,998
J.M. Smucker Co.		1		126
John B Sanfilippo & Son, Inc.		3,011		318,925
Lancaster Colony Corp.		6,334		1,315,129
Limoneira Co. (b)		5,916		115,717
Mission Produce, Inc. (a) (b)		15,099		179,225
Seneca Foods Corp. - Class A (a) (b)		1,733		98,608
Simply Good Foods Co. (a) (b)		29,956		1,019,403
SunOpta, Inc. (a) (b)		34,321		235,785
TreeHouse Foods, Inc. (a) (b)		16,001		623,239
Utz Brands, Inc. (b)		24,385		449,660
Vital Farms, Inc. (a)		9,557		222,200
Westrock Coffee Co. (a) (b)		9,879		102,050

				7,632,833

BHFTII-198

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Gas Utilities—0.9%
Brookfield Infrastructure Corp. - Class A (b)		38,716	$	1,395,325
Chesapeake Utilities Corp. (b)		6,847		734,683
New Jersey Resources Corp. (b)		31,321		1,343,984
Northwest Natural Holding Co. (b)		12,039		448,091
ONE Gas, Inc. (b)		17,861		1,152,570
RGC Resources, Inc.		2,683		54,304
Southwest Gas Holdings, Inc.		20,038		1,525,493
Spire, Inc.		16,583		1,017,699

				7,672,149


Ground Transportation—0.4%
ArcBest Corp.		7,666		1,092,405
Covenant Logistics Group, Inc.		3,144		145,756
Daseke, Inc. (a)		13,563		112,573
FTAI Infrastructure, Inc.		34,332		215,605
Heartland Express, Inc. (b)		12,300		146,862
Marten Transport Ltd.		19,045		351,952
RXO, Inc. (a) (b)		39,143		856,057
Universal Logistics Holdings, Inc. (b)		2,513		92,654
Werner Enterprises, Inc.		20,993		821,246

				3,835,110


Health Care Equipment & Supplies—2.5%
Accuray, Inc. (a) (b)		31,228		77,133
Alphatec Holdings, Inc. (a)		30,944		426,718
AngioDynamics, Inc. (a)		4,576		26,861
Artivion, Inc. (a) (b)		12,730		269,367
AtriCure, Inc. (a) (b)		15,592		474,309
Atrion Corp. (b)		495		229,457
Avanos Medical, Inc. (a)		15,903		316,629
Axogen, Inc. (a) (b)		9,552		77,085
Axonics, Inc. (a)		16,167		1,115,038
Butterfly Network, Inc. (a) (b)		51,019		55,101
Cerus Corp. (a) (b)		58,207		110,011
ClearPoint Neuro, Inc. (a)		7,794		52,999
CONMED Corp. (b)		9,866		790,069
CVRx, Inc. (a) (b)		4,000		72,840
Embecta Corp. (b)		19,687		261,247
Glaukos Corp. (a) (b)		15,273		1,440,091
Haemonetics Corp. (a) (b)		16,296		1,390,864
Inari Medical, Inc. (a)		17,887		858,218
Inmode Ltd. (a) (b)		26,069		563,351
Inogen, Inc. (a) (b)		1,908		15,398
Integer Holdings Corp. (a) (b)		10,642		1,241,709
iRadimed Corp.		2,491		109,579
iRhythm Technologies, Inc. (a) (b)		9,749		1,130,884
Lantheus Holdings, Inc. (a)		21,964		1,367,039
LeMaitre Vascular, Inc. (b)		6,627		439,768
LivaNova PLC (a)		17,635		986,502
Merit Medical Systems, Inc. (a)		18,470		1,399,103
Neogen Corp. (a) (b)		70,176		1,107,377
Nevro Corp. (a)		12,102		174,753
Omnicell, Inc. (a)		14,912		435,878
OraSure Technologies, Inc. (a) (b)		28,635		176,105
Orthofix Medical, Inc. (a)		12,079		175,387
OrthoPediatrics Corp. (a) (b)		5,617		163,792

Health Care Equipment & Supplies—(Continued)
Paragon 28, Inc. (a)		16,207		200,156
PROCEPT BioRobotics Corp. (a) (b)		12,712		628,227
Pulmonx Corp. (a)		12,235		113,418
Pulse Biosciences, Inc. (a) (b)		5,792		50,448
RxSight, Inc. (a)		9,234		476,290
Sanara Medtech, Inc. (a) (b)		1,366		50,542
Semler Scientific, Inc. (a)		1,835		53,600
SI-BONE, Inc. (a)		13,425		219,767
Silk Road Medical, Inc. (a) (b)		12,651		231,766
STAAR Surgical Co. (a) (b)		16,470		630,472
Surmodics, Inc. (a) (b)		4,747		139,277
Tactile Systems Technology, Inc. (a) (b)		7,825		127,156
TransMedics Group, Inc. (a) (b)		10,461		773,486
Treace Medical Concepts, Inc. (a) (b)		15,308		199,769
UFP Technologies, Inc. (a) (b)		2,379		599,984
Utah Medical Products, Inc. (b)		1,293		91,945
Varex Imaging Corp. (a) (b)		12,322		223,028
Zimvie, Inc. (a)		7,676		126,577
Zynex, Inc. (a) (b)		7,718		95,472

				22,562,042


Health Care Providers & Services—2.5%
23andMe Holding Co. - Class A (a) (b)		113,065		60,151
Accolade, Inc. (a) (b)		22,370		234,438
AdaptHealth Corp. (a) (b)		32,179		370,380
Addus HomeCare Corp. (a)		5,248		542,328
Agiliti, Inc. (a) (b)		9,835		99,530
Alignment Healthcare, Inc. (a) (b)		27,227		135,046
AMN Healthcare Services, Inc. (a) (b)		12,014		750,995
Astrana Health, Inc. (a) (b)		14,378		603,732
BrightSpring Health Services, Inc. (a)		18,040		196,095
Brookdale Senior Living, Inc. (a) (b)		56,094		370,781
Castle Biosciences, Inc. (a)		7,804		172,859
Community Health Systems, Inc. (a) (b)		19,481		68,184
CorVel Corp. (a) (b)		2,779		730,766
Cross Country Healthcare, Inc. (a) (b)		10,985		205,639
DocGo, Inc. (a) (b)		26,641		107,630
Enhabit, Inc. (a) (b)		17,210		200,496
Ensign Group, Inc.		17,706		2,202,981
Fulgent Genetics, Inc. (a) (b)		7,417		160,949
Guardant Health, Inc. (a)		37,275		768,983
HealthEquity, Inc. (a)		27,289		2,227,601
Hims & Hers Health, Inc. (a)		40,200		621,894
InfuSystem Holdings, Inc. (a) (b)		6,159		52,783
Joint Corp. (a) (b)		5,088		66,449
LifeStance Health Group, Inc. (a) (b)		36,004		222,145
ModivCare, Inc. (a)		4,229		99,170
Nano-X Imaging Ltd. (a) (b)		15,150		148,016
National HealthCare Corp. (b)		4,199		396,847
National Research Corp.		4,600		182,206
NeoGenomics, Inc. (a) (b)		42,888		674,199
OmniAb, Inc. (a) (b) (d) (e)		4,218		0
OPKO Health, Inc. (a) (b)		132,265		158,718
Option Care Health, Inc. (a)		54,439		1,825,884
Owens & Minor, Inc. (a) (b)		24,268		672,466
Patterson Cos., Inc. (b)		27,951		772,845

BHFTII-199

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Health Care Providers & Services—(Continued)
Pediatrix Medical Group, Inc. (a)		28,941	$	290,278
Pennant Group, Inc. (a)		9,146		179,536
PetIQ, Inc. (a)		9,493		173,532
Privia Health Group, Inc. (a) (b)		37,190		728,552
Progyny, Inc. (a) (b)		26,342		1,004,947
Quipt Home Medical Corp. (a)		14,235		62,207
RadNet, Inc. (a)		19,948		970,670
Select Medical Holdings Corp.		33,570		1,012,135
Surgery Partners, Inc. (a)		25,332		755,654
U.S. Physical Therapy, Inc. (b)		4,906		553,740
Viemed Healthcare, Inc. (a)		11,513		108,568

				21,943,005


Health Care REITs—0.5%
CareTrust REIT, Inc. (b)		38,616		941,072
Community Healthcare Trust, Inc. (b)		8,914		236,667
Diversified Healthcare Trust		77,519		190,697
Global Medical REIT, Inc.		19,813		173,364
LTC Properties, Inc. (b)		13,796		448,508
National Health Investors, Inc. (b)		13,343		838,340
Sabra Health Care REIT, Inc.		73,390		1,083,970
Universal Health Realty Income Trust		4,263		156,495

				4,069,113


Health Care Technology—0.3%
American Well Corp. - Class A (a)		87,601		71,018
Definitive Healthcare Corp. (a) (b)		15,540		125,408
Evolent Health, Inc. - Class A (a) (b)		35,588		1,166,930
Health Catalyst, Inc. (a)		17,486		131,670
HealthStream, Inc.		9,080		242,073
Multiplan Corp. (a) (b)		81,313		65,961
OptimizeRx Corp. (a) (b)		5,787		70,312
Phreesia, Inc. (a) (b)		17,014		407,145
Schrodinger, Inc. (a) (b)		18,164		490,428
Sharecare, Inc. (a) (b)		103,910		79,751
Simulations Plus, Inc. (b)		5,451		224,309
TruBridge, Inc. (a)		4,524		41,711

				3,116,716


Hotel & Resort REITs—0.8%
Apple Hospitality REIT, Inc. (b)		71,063		1,164,012
Chatham Lodging Trust		15,674		158,464
DiamondRock Hospitality Co. (b)		66,365		637,768
Pebblebrook Hotel Trust (b)		37,645		580,110
RLJ Lodging Trust		49,444		584,428
Ryman Hospitality Properties, Inc.		18,581		2,148,149
Service Properties Trust (b)		50,242		340,641
Summit Hotel Properties, Inc. (b)		33,976		221,184
Sunstone Hotel Investors, Inc.		66,546		741,322
Xenia Hotels & Resorts, Inc. (b)		34,808		522,468

				7,098,546


Hotels, Restaurants & Leisure—2.1%
Accel Entertainment, Inc. (a)		16,295		192,118
Bally’s Corp. (a) (b)		8,988		125,293

Hotels, Restaurants & Leisure—(Continued)
Biglari Holdings, Inc. - Class B (a)		257		48,748
BJ’s Restaurants, Inc. (a) (b)		7,697		278,477
Bloomin’ Brands, Inc. (b)		29,104		834,703
Bowlero Corp. - Class A (b)		6,169		84,515
Brinker International, Inc. (a) (b)		14,683		729,451
Carrols Restaurant Group, Inc. (b)		8,157		77,573
Cheesecake Factory, Inc. (b)		15,303		553,203
Chuy’s Holdings, Inc. (a)		6,087		205,315
Cracker Barrel Old Country Store, Inc. (b)		7,474		543,584
Dave & Buster’s Entertainment, Inc. (a) (b)		10,937		684,656
Denny’s Corp. (a) (b)		14,334		128,433
Dine Brands Global, Inc. (b)		5,258		244,392
El Pollo Loco Holdings, Inc. (a) (b)		4,803		46,781
Everi Holdings, Inc. (a)		24,133		242,537
First Watch Restaurant Group, Inc. (a)		7,697		189,500
Full House Resorts, Inc. (a) (b)		11,332		63,119
Global Business Travel Group I (a) (b)		11,339		68,147
Golden Entertainment, Inc. (b)		7,102		261,567
Hilton Grand Vacations, Inc. (a)		25,412		1,199,701
Inspired Entertainment, Inc. (a) (b)		3,272		32,262
International Game Technology PLC (b)		34,908		788,572
Jack in the Box, Inc. (b)		6,636		454,433
Krispy Kreme, Inc. (b)		29,632		451,444
Kura Sushi USA, Inc. - Class A (a)		1,965		226,289
Life Time Group Holdings, Inc. (a) (b)		15,138		234,942
Light & Wonder, Inc. (a) (b)		29,086		2,969,390
Lindblad Expeditions Holdings, Inc. (a) (b)		10,934		102,014
Monarch Casino & Resort, Inc. (b)		4,396		329,656
Nathan’s Famous, Inc.		956		67,685
Papa John’s International, Inc. (b)		10,401		692,707
PlayAGS, Inc. (a)		7,816		70,188
Portillo’s, Inc. - Class A (a) (b)		14,432		204,646
Potbelly Corp. (a) (b)		8,856		107,246
RCI Hospitality Holdings, Inc. (b)		2,918		169,244
Red Rock Resorts, Inc. - Class A		15,144		905,914
Rush Street Interactive, Inc. (a) (b)		21,900		142,569
Sabre Corp. (a)		78,627		190,277
Shake Shack, Inc. - Class A (a)		12,164		1,265,421
Six Flags Entertainment Corp. (a)		24,247		638,181
Super Group SGHC Ltd. (a)		45,572		157,223
Sweetgreen, Inc. - Class A (a) (b)		32,761		827,543
Target Hospitality Corp. (a)		6,016		65,394
United Parks & Resorts, Inc. (a)		12,173		684,244
Xponential Fitness, Inc. - Class A (a)		8,434		139,498

				18,718,795


Household Durables—2.4%
Beazer Homes USA, Inc. (a)		9,853		323,178
Cavco Industries, Inc. (a)		2,703		1,078,659
Century Communities, Inc.		9,085		876,703
Cricut, Inc. - Class A (b)		8,209		39,075
Dream Finders Homes, Inc. - Class A (a) (b)		8,135		355,744
Ethan Allen Interiors, Inc. (b)		7,632		263,838
GoPro, Inc. - Class A (a)		42,232		94,177
Green Brick Partners, Inc. (a)		8,847		532,855
Helen of Troy Ltd. (a) (b)		7,677		884,697

BHFTII-200

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Household Durables—(Continued)
Hooker Furnishings Corp. (b)		3,731	$	89,581
Hovnanian Enterprises, Inc. - Class A (a) (b)		1,523		239,020
Installed Building Products, Inc. (b)		7,688		1,989,116
iRobot Corp. (a) (b)		8,888		77,859
KB Home		21,965		1,556,879
La-Z-Boy, Inc. (b)		14,484		544,888
Landsea Homes Corp. (a)		7,257		105,444
Legacy Housing Corp. (a) (b)		3,039		65,399
LGI Homes, Inc. (a)		6,550		762,224
Lovesac Co. (a)		4,517		102,084
M/I Homes, Inc. (a)		8,699		1,185,587
MDC Holdings, Inc. (b)		19,668		1,237,314
Meritage Homes Corp. (c)		11,778		2,066,568
Skyline Champion Corp. (a)		17,689		1,503,742
Snap One Holdings Corp. (a) (b)		5,851		50,436
Sonos, Inc. (a)		41,381		788,722
Taylor Morrison Home Corp. (a)		33,644		2,091,647
Tri Pointe Homes, Inc. (a)		30,895		1,194,401
Vizio Holding Corp. - Class A (a) (b)		24,137		264,059
Worthington Enterprises, Inc. (b)		10,048		625,287

				20,989,183


Household Products—0.3%
Central Garden & Pet Co. (Non-Voting Shares) - Class A (a)		16,462		607,777
Central Garden & Pet Co. (Voting Shares) (a) (b)		3,370		144,337
Energizer Holdings, Inc.		23,993		706,354
Oil-Dri Corp. of America		1,659		123,695
WD-40 Co. (b)		4,343		1,100,125

				2,682,288


Independent Power and Renewable Electricity Producers—0.2%
Altus Power, Inc. (a) (b)		15,293		73,101
Montauk Renewables, Inc. (a)		14,581		60,657
Ormat Technologies, Inc. (b)		17,317		1,146,212
Sunnova Energy International, Inc. (a) (b)		25,579		156,799

				1,436,769


Industrial Conglomerates—0.0%
Brookfield Business Corp. - Class A		9,192		221,895


Industrial REITs—0.4%
Innovative Industrial Properties, Inc.		8,911		922,645
LXP Industrial Trust (b)		88,356		796,971
Plymouth Industrial REIT, Inc. (b)		14,464		325,440
Terreno Realty Corp.		27,142		1,802,229

				3,847,285


Insurance—1.8%
Ambac Financial Group, Inc. (a)		13,373		209,020
American Coastal Insurance Corp. - Class C (a) (b)		6,686		71,473
American Equity Investment Life Holding Co. (a)		25,389		1,427,370
AMERISAFE, Inc.		6,171		309,599
BRP Group, Inc. - Class A (a) (b)		19,116		553,217
CNO Financial Group, Inc.		35,535		976,502
Donegal Group, Inc. - Class A (b)		5,184		73,302

Insurance—(Continued)
eHealth, Inc. (a)		1,812		10,926
Employers Holdings, Inc.		8,580		389,446
Enstar Group Ltd. (a)		3,858		1,198,912
F&G Annuities & Life, Inc.		6,468		262,277
Fidelis Insurance Holdings Ltd.		19,783		385,373
Genworth Financial, Inc. - Class A (a)		143,429		922,249
Goosehead Insurance, Inc. - Class A (a) (b)		6,694		445,954
Greenlight Capital Re Ltd. - Class A (a) (b)		5,466		68,161
Hamilton Insurance Group Ltd. - Class B (a)		5,796		80,738
HCI Group, Inc. (b)		2,359		273,833
Hippo Holdings, Inc. (a) (b)		3,766		68,805
Horace Mann Educators Corp.		13,726		507,725
Investors Title Co. (b)		444		72,456
James River Group Holdings Ltd.		6,924		64,393
Lemonade, Inc. (a) (b)		17,084		280,348
MBIA, Inc. (a)		14,748		99,697
Mercury General Corp. (b)		9,027		465,793
National Western Life Group, Inc. - Class A		725		356,671
Oscar Health, Inc. - Class A (a)		52,292		777,582
Palomar Holdings, Inc. (a)		7,992		669,969
ProAssurance Corp. (a)		16,084		206,840
Safety Insurance Group, Inc. (b)		4,806		395,005
Selective Insurance Group, Inc.		19,535		2,132,636
Selectquote, Inc. (a)		45,999		91,998
SiriusPoint Ltd. (a) (b)		23,338		296,626
Skyward Specialty Insurance Group, Inc. (a)		9,738		364,299
Stewart Information Services Corp.		8,566		557,304
Tiptree, Inc.		8,311		143,614
Trupanion, Inc. (a) (b)		13,150		363,072
United Fire Group, Inc.		7,479		162,818
Universal Insurance Holdings, Inc.		7,898		160,487

				15,896,490


Interactive Media & Services—0.6%
Bumble, Inc. - Class A (a)		34,027		386,207
Cargurus, Inc. (a)		30,918		713,587
Cars.com, Inc. (a) (b)		21,736		373,425
EverQuote, Inc. - Class A (a) (b)		6,835		126,858
fuboTV, Inc. (a) (b)		96,554		152,555
Grindr, Inc. (a) (b)		14,425		146,125
MediaAlpha, Inc. - Class A (a)		7,680		156,442
Nextdoor Holdings, Inc. (a) (b)		50,708		114,093
Outbrain, Inc. (a) (b)		14,473		57,168
QuinStreet, Inc. (a)		18,173		320,935
Shutterstock, Inc. (b)		7,975		365,335
TrueCar, Inc. (a)		29,389		99,629
Vimeo, Inc. (a)		49,749		203,473
Yelp, Inc. (a) (b)		21,466		845,760
Ziff Davis, Inc. (a)		15,027		947,302
ZipRecruiter, Inc. - Class A (a)		22,136		254,343

				5,263,237


IT Services—0.4%
Applied Digital Corp. (a) (b)		28,272		121,004
BigCommerce Holdings, Inc. - Series 1 (a)		21,617		148,941
Couchbase, Inc. (a) (b)		11,669		307,011

BHFTII-201

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

IT Services—(Continued)
DigitalOcean Holdings, Inc. (a) (b)		19,835	$	757,300
Fastly, Inc. - Class A (a) (b)		39,783		515,986
Grid Dynamics Holdings, Inc. (a) (b)		18,166		223,260
Hackett Group, Inc.		8,402		204,169
Information Services Group, Inc.		11,499		46,456
Perficient, Inc. (a)		10,846		610,521
Squarespace, Inc. - Class A (a)		18,434		671,735
Thoughtworks Holding, Inc. (a) (b)		32,126		81,279
Tucows, Inc. - Class A (a) (b)		3,376		62,659
Unisys Corp. (a)		21,786		106,969

				3,857,290


Leisure Products—0.4%
Acushnet Holdings Corp. (b)		9,851		649,674
AMMO, Inc. (a) (b)		33,699		92,672
Clarus Corp. (b)		2,860		19,305
Escalade, Inc. (b)		3,400		46,750
Funko, Inc. - Class A (a) (b)		5,015		31,294
JAKKS Pacific, Inc. (a)		2,462		60,811
Johnson Outdoors, Inc. - Class A		1,720		79,309
Malibu Boats, Inc. - Class A (a) (b)		6,721		290,885
MasterCraft Boat Holdings, Inc. (a)		5,986		141,988
Smith & Wesson Brands, Inc. (b)		15,475		268,646
Sturm Ruger & Co., Inc.		6,188		285,576
Topgolf Callaway Brands Corp. (a) (b)		45,286		732,275
Vista Outdoor, Inc. (a) (b)		19,339		633,932

				3,333,117


Life Sciences Tools & Services—0.2%
Adaptive Biotechnologies Corp. (a) (b)		37,221		119,479
BioLife Solutions, Inc. (a) (b)		11,463		212,639
Codexis, Inc. (a) (b)		23,141		80,762
CryoPort, Inc. (a) (b)		14,444		255,659
Cytek Biosciences, Inc. (a) (b)		39,465		264,810
Harvard Bioscience, Inc. (a) (b)		13,580		57,579
MaxCyte, Inc. (a) (b)		27,656		115,878
Mesa Laboratories, Inc. (b)		1,730		189,833
OmniAb, Inc. (a) (b)		32,073		173,836
Pacific Biosciences of California, Inc. (a) (b)		72,944		273,540
Quanterix Corp. (a) (b)		11,230		264,579
Quantum-Si, Inc. (a) (b)		36,008		70,936

				2,079,530


Machinery—3.6%
3D Systems Corp. (a) (b)		42,451		188,482
Alamo Group, Inc.		3,307		755,087
Albany International Corp. - Class A		10,130		947,256
Astec Industries, Inc.		7,396		323,279
Atmus Filtration Technologies, Inc. (a)		27,502		886,940
Barnes Group, Inc. (b)		16,460		611,489
Blue Bird Corp. (a)		8,457		324,241
Chart Industries, Inc. (a) (b)		13,945		2,297,020
Columbus McKinnon Corp.		9,111		406,624
Commercial Vehicle Group, Inc. (a) (b)		4,039		25,971
Desktop Metal, Inc. - Class A (a) (b)		100,773		88,680
Douglas Dynamics, Inc.		7,665		184,880

Machinery—(Continued)
Energy Recovery, Inc. (a) (b)		18,812		297,042
Enerpac Tool Group Corp.		17,412		620,912
Enpro, Inc. (b)		6,763		1,141,392
ESCO Technologies, Inc.		8,454		905,001
Federal Signal Corp.		19,444		1,650,212
Franklin Electric Co., Inc. (b)		14,986		1,600,655
Gencor Industries, Inc. (a)		3,563		59,466
Gorman-Rupp Co.		7,300		288,715
Greenbrier Cos., Inc. (b)		9,698		505,266
Helios Technologies, Inc.		11,222		501,511
Hillenbrand, Inc. (b)		22,561		1,134,593
Hillman Solutions Corp. (a)		65,799		700,101
Hyliion Holdings Corp. (a) (b)		28,267		49,750
Hyster-Yale Materials Handling, Inc. (b)		3,777		242,370
John Bean Technologies Corp. (b)		10,453		1,096,415
Kadant, Inc. (b)		3,754		1,231,687
Kennametal, Inc. (b)		25,387		633,152
Lindsay Corp. (b)		3,673		432,165
Luxfer Holdings PLC		8,670		89,908
Manitowoc Co., Inc. (a)		11,674		165,070
Mayville Engineering Co., Inc. (a)		3,733		53,494
Microvast Holdings, Inc. (a) (b)		80,457		67,343
Miller Industries, Inc.		3,305		165,581
Mueller Industries, Inc. (b)		36,359		1,960,841
Mueller Water Products, Inc. - Class A		49,823		801,652
Nikola Corp. (a) (b)		247,136		257,021
Omega Flex, Inc. (b)		1,112		78,874
Park-Ohio Holdings Corp. (b)		2,839		75,745
Proto Labs, Inc. (a)		8,980		321,035
REV Group, Inc.		10,161		224,457
Shyft Group, Inc.		10,757		133,602
SPX Technologies, Inc. (a) (b)		14,221		1,751,032
Standex International Corp. (b)		3,756		684,418
Tennant Co.		5,981		727,349
Terex Corp.		21,578		1,389,623
Titan International, Inc. (a) (b)		15,492		193,030
Trinity Industries, Inc. (b)		25,726		716,469
Wabash National Corp. (b)		15,639		468,232
Watts Water Technologies, Inc. - Class A		8,874		1,886,169

				32,341,299


Marine Transportation—0.3%
Costamare, Inc. (b)		14,222		161,420
Eagle Bulk Shipping, Inc. (b)		3,104		193,907
Genco Shipping & Trading Ltd.		14,141		287,486
Golden Ocean Group Ltd.		39,628		513,579
Himalaya Shipping Ltd. (a)		10,455		80,608
Matson, Inc.		11,136		1,251,686
Pangaea Logistics Solutions Ltd.		6,411		44,685
Safe Bulkers, Inc.		21,483		106,556

				2,639,927


Media—0.6%
Advantage Solutions, Inc. (a) (b)		30,961		134,061
AMC Networks, Inc. - Class A (a) (b)		10,133		122,913
Boston Omaha Corp. - Class A (a) (b)		7,716		119,289

BHFTII-202

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Media—(Continued)
Cardlytics, Inc. (a) (b)		11,459	$	166,041
Clear Channel Outdoor Holdings, Inc. (a) (b)		122,730		202,504
EchoStar Corp. - Class A (a) (b)		40,964		583,737
EW Scripps Co. - Class A (a)		9,546		37,516
Gambling.com Group Ltd. (a) (b)		3,973		36,273
Gannett Co., Inc. (a) (b)		48,177		117,552
Gray Television, Inc.		27,774		175,532
iHeartMedia, Inc. - Class A (a) (b)		35,076		73,309
Integral Ad Science Holding Corp. (a)		22,270		222,032
John Wiley & Sons, Inc. - Class A		12,175		464,233
Magnite, Inc. (a) (b)		41,318		444,168
PubMatic, Inc. - Class A (a) (b)		14,669		347,949
Scholastic Corp.		8,189		308,807
Sinclair, Inc. (b)		9,848		132,653
Stagwell, Inc. (a) (b)		27,335		170,024
TechTarget, Inc. (a) (b)		9,094		300,829
TEGNA, Inc. (b)		63,719		951,962
Thryv Holdings, Inc. (a) (b)		10,544		234,393
WideOpenWest, Inc. (a) (b)		16,338		59,144

				5,404,921


Metals & Mining—1.8%
Alpha Metallurgical Resources, Inc. (b)		3,745		1,240,232
Arch Resources, Inc.		5,875		944,641
ATI, Inc. (a) (b)		41,842		2,141,055
Caledonia Mining Corp. PLC (b)		5,546		61,394
Carpenter Technology Corp.		15,480		1,105,582
Century Aluminum Co. (a) (b)		14,356		220,939
Coeur Mining, Inc. (a) (b)		115,633		435,936
Commercial Metals Co.		37,999		2,233,201
Compass Minerals International, Inc. (b)		11,864		186,739
Constellium SE (a)		42,559		940,980
Contango ORE, Inc. (a) (b)		2,967		58,895
Dakota Gold Corp. (a) (b)		22,662		53,709
Haynes International, Inc.		4,204		252,744
Hecla Mining Co. (b)		196,666		945,963
i-80 Gold Corp. (a) (b)		67,373		90,280
Ivanhoe Electric, Inc. (a) (b)		21,608		211,758
Kaiser Aluminum Corp.		5,296		473,251
Materion Corp.		6,543		862,040
Metallus, Inc. (a) (b)		14,154		314,927
Novagold Resources, Inc. (a)		78,128		234,384
Olympic Steel, Inc.		3,243		229,864
Perpetua Resources Corp. (a)		13,624		56,676
Piedmont Lithium, Inc. (a) (b)		6,114		81,438
Radius Recycling, Inc.		8,757		185,035
Ramaco Resources, Inc. - Class A		7,675		129,247
Ryerson Holding Corp.		9,373		313,996
SunCoke Energy, Inc.		25,269		284,782
Warrior Met Coal, Inc.		16,462		999,243
Worthington Steel, Inc.		10,048		360,221

				15,649,152


Mortgage Real Estate Investment Trusts—1.0%
AFC Gamma, Inc. (b)		5,786		71,631
Apollo Commercial Real Estate Finance, Inc. (b)		46,637		519,536

Mortgage Real Estate Investment Trusts—(Continued)
Arbor Realty Trust, Inc. (b)		60,290		798,843
ARES Commercial Real Estate Corp. (b)		16,947		126,255
ARMOUR Residential REIT, Inc. (b)		16,406		324,347
Blackstone Mortgage Trust, Inc. - Class A (b)		56,829		1,131,465
BrightSpire Capital, Inc.		41,682		287,189
Chicago Atlantic Real Estate Finance, Inc.		5,740		90,520
Chimera Investment Corp.		60,869		280,606
Claros Mortgage Trust, Inc. (b)		31,509		307,528
Dynex Capital, Inc. (b)		17,851		222,245
Ellington Financial, Inc. (b)		25,082		296,218
Franklin BSP Realty Trust, Inc. (b)		29,093		388,683
Granite Point Mortgage Trust, Inc. (b)		16,812		80,193
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (b)		34,746		986,786
Invesco Mortgage Capital, Inc. (b)		14,200		137,456
KKR Real Estate Finance Trust, Inc. (b)		19,694		198,122
Ladder Capital Corp.		35,553		395,705
MFA Financial, Inc. (b)		29,967		341,923
New York Mortgage Trust, Inc. (b)		23,775		171,180
Orchid Island Capital, Inc. (b)		16,797		149,997
PennyMac Mortgage Investment Trust		29,854		438,257
Ready Capital Corp. (b)		49,614		452,976
Redwood Trust, Inc. (b)		42,639		271,610
TPG RE Finance Trust, Inc. (b)		20,840		160,885
Two Harbors Investment Corp. (b)		32,684		432,736

				9,062,892


Multi-Utilities—0.4%
Avista Corp.		25,510		893,360
Black Hills Corp.		22,343		1,219,928
Northwestern Energy Group, Inc. (b)		20,178		1,027,665
Unitil Corp.		5,057		264,734

				3,405,687


Office REITs—0.6%
Brandywine Realty Trust (b)		55,121		264,581
City Office REIT, Inc.		1,027		5,351
COPT Defense Properties		35,838		866,204
Douglas Emmett, Inc. (b)		54,193		751,657
Easterly Government Properties, Inc. (b)		30,700		353,357
Equity Commonwealth (a)		33,220		627,194
Hudson Pacific Properties, Inc. (b)		41,805		269,642
JBG SMITH Properties (b)		30,278		485,962
Orion Office REIT, Inc. (b)		8,174		28,691
Paramount Group, Inc. (b)		59,867		280,776
Peakstone Realty Trust (b)		12,370		199,528
Piedmont Office Realty Trust, Inc. - Class A		39,989		281,123
Postal Realty Trust, Inc. - Class A		5,867		84,015
SL Green Realty Corp. (b)		21,168		1,166,992

				5,665,073


Oil, Gas & Consumable Fuels—4.5%
Amplify Energy Corp. (a)		5,495		36,322
Ardmore Shipping Corp. (b)		13,795		226,514
Berry Corp. (b)		24,541		197,555
California Resources Corp. (b)		22,504		1,239,970
Centrus Energy Corp. - Class A (a) (b)		4,135		171,727

BHFTII-203

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Oil, Gas & Consumable Fuels—(Continued)
Chord Energy Corp.		13,607	$	2,425,312
Civitas Resources, Inc.		26,234		1,991,423
Clean Energy Fuels Corp. (a) (b)		55,439		148,577
CNX Resources Corp. (a) (b)		50,499		1,197,836
Comstock Resources, Inc. (b)		25,910		240,445
CONSOL Energy, Inc.		9,667		809,708
Crescent Energy Co. - Class A (b)		26,200		311,780
CVR Energy, Inc.		10,082		359,524
Delek U.S. Holdings, Inc.		20,483		629,647
DHT Holdings, Inc.		42,384		487,416
Dorian LPG Ltd.		11,086		426,368
Encore Energy Corp. (a) (b)		49,010		214,664
Energy Fuels, Inc. (a) (b)		51,700		325,193
Equitrans Midstream Corp.		141,733		1,770,245
Evolution Petroleum Corp. (b)		10,364		63,635
Excelerate Energy, Inc. - Class A (b)		6,800		108,936
FLEX LNG Ltd. (b)		10,006		254,453
FutureFuel Corp.		8,554		68,860
Gevo, Inc. (a) (b)		79,614		61,199
Golar LNG Ltd. (b)		32,510		782,191
Granite Ridge Resources, Inc. (b)		9,296		60,424
Green Plains, Inc. (a) (b)		19,518		451,256
Gulfport Energy Corp. (a)		3,698		592,124
Hallador Energy Co. (a) (b)		2,108		11,236
HighPeak Energy, Inc. (b)		4,361		68,773
International Seaways, Inc. (b)		12,849		683,567
Kinetik Holdings, Inc.		11,766		469,110
Kosmos Energy Ltd. (a)		145,256		865,726
Magnolia Oil & Gas Corp. - Class A (b)		56,948		1,477,801
Matador Resources Co. (b)		36,760		2,454,465
Murphy Oil Corp.		46,789		2,138,257
NextDecade Corp. (a) (b)		25,527		144,993
Nordic American Tankers Ltd. (b)		66,175		259,406
Northern Oil & Gas, Inc. (b)		28,201		1,119,016
Overseas Shipholding Group, Inc. - Class A		12,666		81,062
Par Pacific Holdings, Inc. (a)		18,554		687,611
PBF Energy, Inc. - Class A		35,453		2,041,029
Peabody Energy Corp. (b)		36,382		882,627
Permian Resources Corp. (b)		146,750		2,591,605
REX American Resources Corp. (a)		5,256		308,580
Riley Exploration Permian, Inc. (b)		3,073		101,409
Ring Energy, Inc. (a) (b)		39,822		78,051
SandRidge Energy, Inc. (b)		10,783		157,108
Scorpio Tankers, Inc.		15,184		1,086,415
SFL Corp. Ltd.		36,310		478,566
SilverBow Resources, Inc. (a) (b)		7,038		240,277
Sitio Royalties Corp. - Class A (b)		27,084		669,516
SM Energy Co. (b)		37,295		1,859,156
Talos Energy, Inc. (a)		43,086		600,188
Teekay Corp. (a)		18,814		136,966
Teekay Tankers Ltd. - Class A		8,028		468,915
Tellurian, Inc. (a) (b)		190,373		125,913
Uranium Energy Corp. (a) (b)		117,047		790,067
VAALCO Energy, Inc. (b)		34,314		239,169
Vital Energy, Inc. (a) (b)		7,782		408,866
Vitesse Energy, Inc. (b)		8,582		203,651
W&T Offshore, Inc. (b)		32,511		86,154
World Kinect Corp.		19,981		528,497

				40,197,052


Paper & Forest Products—0.1%
Clearwater Paper Corp. (a)		5,381		235,311
Sylvamo Corp. (b)		11,598		716,061

				951,372


Passenger Airlines—0.4%
Allegiant Travel Co.		5,412		407,037
Blade Air Mobility, Inc. (a) (b)		5,254		14,974
Frontier Group Holdings, Inc. (a) (b)		14,756		119,671
Hawaiian Holdings, Inc. (a)		14,136		188,433
JetBlue Airways Corp. (a) (b)		108,152		802,488
Joby Aviation, Inc. (a) (b)		85,984		460,874
SkyWest, Inc. (a)		12,872		889,198
Spirit Airlines, Inc.		35,466		171,655
Sun Country Airlines Holdings, Inc. (a)		14,201		214,293

				3,268,623


Personal Care Products—1.0%
Beauty Health Co. (a) (b)		27,554		122,340
BellRing Brands, Inc. (a)		42,774		2,524,949
Edgewell Personal Care Co. (b)		16,266		628,518
elf Beauty, Inc. (a)		17,308		3,392,887
Herbalife Ltd. (a) (b)		28,759		289,028
Inter Parfums, Inc.		5,919		831,679
Medifast, Inc. (b)		3,603		138,067
Nature’s Sunshine Products, Inc. (a)		4,578		95,085
Nu Skin Enterprises, Inc. - Class A (b)		16,591		229,454
USANA Health Sciences, Inc. (a)		3,693		179,110
Waldencast PLC - Class A (a)		12,854		83,551

				8,514,668


Pharmaceuticals—1.6%
Amneal Pharmaceuticals, Inc. (a) (b)		33,478		202,877
Amphastar Pharmaceuticals, Inc. (a) (b)		12,064		529,730
Amylyx Pharmaceuticals, Inc. (a)		4,239		12,039
ANI Pharmaceuticals, Inc. (a)		4,883		337,562
Arvinas, Inc. (a) (b)		16,311		673,318
Atea Pharmaceuticals, Inc. (a) (b)		23,307		94,160
Axsome Therapeutics, Inc. (a) (b)		11,769		939,166
Cassava Sciences, Inc. (a) (b)		12,781		259,326
Collegium Pharmaceutical, Inc. (a) (b)		10,277		398,953
Corcept Therapeutics, Inc. (a)		26,919		678,090
CorMedix, Inc. (a) (b)		18,226		77,278
Edgewise Therapeutics, Inc. (a)		18,867		344,134
Enliven Therapeutics, Inc. (a) (b)		7,852		138,117
Evolus, Inc. (a)		12,622		176,708
EyePoint Pharmaceuticals, Inc. (a) (b)		12,088		249,859
Harmony Biosciences Holdings, Inc. (a) (b)		11,160		374,753
Harrow, Inc. (a) (b)		8,750		115,762
Innoviva, Inc. (a)		21,386		325,923
Intra-Cellular Therapies, Inc. (a) (b)		30,407		2,104,164
Ligand Pharmaceuticals, Inc. (a) (b)		5,595		408,994
Liquidia Corp. (a) (b)		16,545		244,039
Longboard Pharmaceuticals, Inc. (a) (b)		8,317		179,647
Marinus Pharmaceuticals, Inc. (a) (b)		16,763		151,538
Neumora Therapeutics, Inc. (a) (b)		5,399		74,236
Nuvation Bio, Inc. (a)		49,483		180,118

BHFTII-204

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Pharmaceuticals—(Continued)
Ocular Therapeutix, Inc. (a) (b)		37,396	$	340,304
Omeros Corp. (a) (b)		9,372		32,333
Optinose, Inc. (a) (b)		24,679		36,031
Pacira BioSciences, Inc. (a)		15,246		445,488
Phathom Pharmaceuticals, Inc. (a) (b)		10,477		111,266
Phibro Animal Health Corp. - Class A		6,746		87,226
Pliant Therapeutics, Inc. (a) (b)		18,963		282,549
Prestige Consumer Healthcare, Inc. (a)		16,145		1,171,481
Revance Therapeutics, Inc. (a) (b)		20,416		100,447
Scilex Holding Co. (a) (b)		22,005		34,988
scPharmaceuticals, Inc. (a) (b)		9,727		48,830
SIGA Technologies, Inc. (b)		15,147		129,658
Supernus Pharmaceuticals, Inc. (a) (b)		16,728		570,592
Taro Pharmaceutical Industries Ltd. (a)		2,758		116,774
Tarsus Pharmaceuticals, Inc. (a) (b)		9,885		359,320
Terns Pharmaceuticals, Inc. (a) (b)		14,700		96,432
Theravance Biopharma, Inc. (a) (b)		12,722		114,116
Third Harmonic Bio, Inc. (a) (b)		7,381		69,677
Trevi Therapeutics, Inc. (a) (b)		14,303		49,345
Ventyx Biosciences, Inc. (a)		15,792		86,856
WaVe Life Sciences Ltd. (a) (b)		23,993		148,037
Xeris Biopharma Holdings, Inc. (a) (b)		43,863		96,937
Zevra Therapeutics, Inc. (a) (b)		5,072		29,418

				13,828,596


Professional Services—2.4%
Alight, Inc. - Class A (a)		133,849		1,318,413
ASGN, Inc. (a)		14,830		1,553,591
Asure Software, Inc. (a) (b)		6,393		49,737
Barrett Business Services, Inc.		2,279		288,795
Blacksky Technology, Inc. (a) (b)		10,727		14,589
CBIZ, Inc. (a)		15,660		1,229,310
Conduent, Inc. (a) (b)		55,566		187,813
CRA International, Inc.		2,343		350,466
CSG Systems International, Inc.		9,559		492,671
ExlService Holdings, Inc. (a) (b)		51,771		1,646,318
Exponent, Inc. (b)		16,175		1,337,511
First Advantage Corp. (b)		17,889		290,160
Forrester Research, Inc. (a)		3,344		72,097
Franklin Covey Co. (a) (b)		3,849		151,112
Heidrick & Struggles International, Inc.		6,268		210,981
HireRight Holdings Corp. (a)		5,408		77,172
Huron Consulting Group, Inc. (a)		6,042		583,778
IBEX Holdings Ltd. (a) (b)		3,027		46,707
ICF International, Inc. (b)		6,062		913,119
Innodata, Inc. (a)		1,880		12,408
Insperity, Inc. (b)		11,491		1,259,528
Kelly Services, Inc. - Class A		11,083		277,518
Kforce, Inc. (b)		5,962		420,440
Korn Ferry		16,932		1,113,448
Legalzoom.com, Inc. (a) (b)		43,424		579,276
Maximus, Inc.		19,734		1,655,683
Mistras Group, Inc. (a)		2,474		23,651
NV5 Global, Inc. (a) (b)		4,636		454,374
Parsons Corp. (a) (b)		13,241		1,098,341
Planet Labs PBC (a) (b)		30,686		78,249

Professional Services—(Continued)
Resources Connection, Inc. (b)		8,062		106,096
Sterling Check Corp. (a) (b)		10,883		174,999
TriNet Group, Inc.		10,309		1,365,839
TrueBlue, Inc. (a)		8,085		101,224
TTEC Holdings, Inc.		6,343		65,777
Upwork, Inc. (a)		41,273		506,007
Verra Mobility Corp. (a) (b)		43,540		1,087,194
Willdan Group, Inc. (a)		4,570		132,484

				21,326,876


Real Estate Management & Development—0.6%
Anywhere Real Estate, Inc. (a) (b)		27,447		169,622
Compass, Inc. - Class A (a) (b)		77,879		280,364
Cushman & Wakefield PLC (a)		55,865		584,348
DigitalBridge Group, Inc. (b)		53,465		1,030,271
Douglas Elliman, Inc. (a)		29,035		45,875
eXp World Holdings, Inc. (b)		23,278		240,462
Forestar Group, Inc. (a)		5,572		223,939
FRP Holdings, Inc. (a) (b)		2,285		140,299
Kennedy-Wilson Holdings, Inc. (b)		34,383		295,006
Marcus & Millichap, Inc. (b)		7,486		255,797
Maui Land & Pineapple Co., Inc. (a) (b)		2,503		54,215
Newmark Group, Inc. - Class A		44,390		492,285
Opendoor Technologies, Inc. (a) (b)		168,625		510,934
RE/MAX Holdings, Inc. - Class A		1,189		10,427
Redfin Corp. (a) (b)		35,827		238,250
RMR Group, Inc. - Class A		4,706		112,944
St. Joe Co.		10,901		631,931
Star Holdings (a) (b)		4,337		56,034
Tejon Ranch Co. (a) (b)		7,461		114,974

				5,487,977


Residential REITs—0.4%
Apartment Investment & Management Co. - Class A (a)		44,592		365,208
BRT Apartments Corp. (b)		3,996		67,133
Centerspace (b)		5,179		295,928
Elme Communities		27,419		381,673
Independence Realty Trust, Inc.		72,530		1,169,909
NexPoint Residential Trust, Inc.		7,052		227,004
UMH Properties, Inc. (b)		19,976		324,410
Veris Residential, Inc. (b)		25,556		388,707

				3,219,972


Retail REITs—1.1%
Acadia Realty Trust (b)		32,395		551,039
Alexander’s, Inc.		759		164,809
CBL & Associates Properties, Inc. (b)		9,399		215,331
Getty Realty Corp.		15,914		435,248
InvenTrust Properties Corp.		23,184		596,061
Kite Realty Group Trust		70,652		1,531,735
Macerich Co. (b)		68,557		1,181,237
NETSTREIT Corp. (b)		22,581		414,813
Phillips Edison & Co., Inc. (b)		38,846		1,393,406
Retail Opportunity Investments Corp.		41,820		536,132
Saul Centers, Inc.		3,884		149,495

BHFTII-205

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Retail REITs—(Continued)
SITE Centers Corp.		61,404	$	899,569
Tanger, Inc. (b)		33,335		984,383
Urban Edge Properties (b)		37,458		646,900
Whitestone REIT (b)		15,859		199,030

				9,899,188


Semiconductors & Semiconductor Equipment—2.9%
ACM Research, Inc. - Class A (a)		16,205		472,214
Aehr Test Systems (a) (b)		8,684		107,682
Alpha & Omega Semiconductor Ltd. (a) (b)		7,372		162,479
Ambarella, Inc. (a) (b)		12,522		635,742
Amkor Technology, Inc.		36,237		1,168,281
Atomera, Inc. (a) (b)		352		2,168
Axcelis Technologies, Inc. (a) (b)		10,497		1,170,625
CEVA, Inc. (a) (b)		8,407		190,923
Cohu, Inc. (a)		15,880		529,280
Credo Technology Group Holding Ltd. (a) (b)		40,248		852,855
Diodes, Inc. (a) (b)		14,559		1,026,410
FormFactor, Inc. (a) (b) (c)		25,059		1,143,442
Ichor Holdings Ltd. (a)		9,050		349,511
Impinj, Inc. (a) (b)		7,712		990,298
indie Semiconductor, Inc. - Class A (a) (b)		50,888		360,287
inTEST Corp. (a)		3,622		47,992
Kulicke & Soffa Industries, Inc. (b)		18,462		928,823
MACOM Technology Solutions Holdings, Inc. (a) (b)		17,648		1,687,855
MaxLinear, Inc. (a)		25,368		473,621
Navitas Semiconductor Corp. (a)		28,453		135,721
NVE Corp. (b)		1,605		144,739
Onto Innovation, Inc. (a)		15,656		2,834,988
PDF Solutions, Inc. (a) (b)		10,025		337,542
Photronics, Inc. (a)		19,751		559,348
Power Integrations, Inc. (b)		18,442		1,319,525
Rambus, Inc. (a) (b)		34,660		2,142,335
Semtech Corp. (a) (b)		21,007		577,482
Silicon Laboratories, Inc. (a) (b)		10,310		1,481,753
SiTime Corp. (a) (b)		5,763		537,285
SkyWater Technology, Inc. (a) (b)		6,922		70,397
SMART Global Holdings, Inc. (a) (b)		16,723		440,149
Synaptics, Inc. (a)		12,599		1,229,158
Transphorm, Inc. (a)		10,697		52,522
Ultra Clean Holdings, Inc. (a)		14,480		665,211
Veeco Instruments, Inc. (a) (b)		16,657		585,827

				25,414,470


Software—6.1%
8x8, Inc. (a) (b)		39,949		107,862
A10 Networks, Inc. (b)		23,716		324,672
ACI Worldwide, Inc. (a) (b)		35,078		1,164,940
Adeia, Inc. (b)		35,163		383,980
Agilysys, Inc. (a)		6,690		563,699
Alarm.com Holdings, Inc. (a) (b)		15,561		1,127,706
Alkami Technology, Inc. (a)		13,618		334,594
Altair Engineering, Inc. - Class A (a) (b)		17,553		1,512,191
American Software, Inc. - Class A		8,033		91,978
Amplitude, Inc. - Class A (a) (b)		23,067		250,969
Appfolio, Inc. - Class A (a)		6,125		1,511,282

Software—(Continued)
Appian Corp. - Class A (a) (b)		13,931		556,543
Asana, Inc. - Class A (a) (b)		26,813		415,333
Aurora Innovation, Inc. (a) (b)		117,358		330,950
AvePoint, Inc. (a)		52,062		412,331
Bit Digital, Inc. (a)		25,236		72,427
Blackbaud, Inc. (a) (b)		14,120		1,046,857
BlackLine, Inc. (a)		18,291		1,181,233
Box, Inc. - Class A (a) (b)		45,773		1,296,291
Braze, Inc. - Class A (a)		17,609		780,079
C3.ai, Inc. - Class A (a) (b)		27,271		738,226
Cerence, Inc. (a) (b)		13,068		205,821
Cipher Mining, Inc. (a)		2,567		13,220
Cleanspark, Inc. (a) (b)		62,334		1,322,104
Clear Secure, Inc. - Class A (b)		28,113		597,964
CommVault Systems, Inc. (a)		14,306		1,451,058
Consensus Cloud Solutions, Inc. (a) (b)		6,453		102,345
CS Disco, Inc. (a)		8,074		65,642
Daily Journal Corp. (a) (b)		413		149,345
Digimarc Corp. (a) (b)		4,269		116,031
Digital Turbine, Inc. (a) (b)		31,816		83,358
Domo, Inc. - Class B (a)		9,814		87,541
E2open Parent Holdings, Inc. (a) (b)		47,636		211,504
eGain Corp. (a)		769		4,960
Enfusion, Inc. - Class A (a) (b)		13,228		122,359
Envestnet, Inc. (a) (b)		16,042		928,992
Everbridge, Inc. (a)		13,337		464,528
EverCommerce, Inc. (a) (b)		8,186		77,112
Freshworks, Inc. - Class A (a)		52,777		961,069
Instructure Holdings, Inc. (a) (b)		6,115		130,739
Intapp, Inc. (a) (b)		12,978		445,145
InterDigital, Inc. (b)		8,289		882,447
Jamf Holding Corp. (a) (b)		23,449		430,289
LiveRamp Holdings, Inc. (a) (b)		20,791		717,289
Marathon Digital Holdings, Inc. (a) (b)		72,115		1,628,357
Matterport, Inc. (a) (b)		86,447		195,370
MeridianLink, Inc. (a) (b)		8,983		167,982
MicroStrategy, Inc. - Class A (a) (b)		4,776		8,140,979
Mitek Systems, Inc. (a) (b)		11,705		165,041
Model N, Inc. (a) (b)		12,650		360,145
N-able, Inc. (a)		24,099		314,974
NextNav, Inc. (a) (b)		9,936		65,379
Olo, Inc. - Class A (a)		27,711		152,133
ON24, Inc.		10,058		71,814
OneSpan, Inc. (a)		13,014		151,353
PagerDuty, Inc. (a) (b)		29,670		672,916
PowerSchool Holdings, Inc. - Class A (a) (b)		19,001		404,531
Progress Software Corp.		14,601		778,379
PROS Holdings, Inc. (a) (b)		15,005		545,132
Q2 Holdings, Inc. (a) (b)		18,911		993,962
Qualys, Inc. (a)		12,070		2,014,121
Rapid7, Inc. (a) (b)		19,953		978,495
Red Violet, Inc. (a)		3,327		65,043
Rimini Street, Inc. (a) (b)		17,453		56,897
Riot Platforms, Inc. (a) (b)		63,735		780,116
Sapiens International Corp. NV		9,820		315,811
SEMrush Holdings, Inc. - Class A (a) (b)		10,967		145,422
SolarWinds Corp. (a)		16,368		206,564

BHFTII-206

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Software—(Continued)
SoundHound AI, Inc. - Class A (a) (b)		45,047	$	265,327
SoundThinking, Inc. (a) (b)		3,138		49,831
Sprinklr, Inc. - Class A (a)		34,779		426,738
Sprout Social, Inc. - Class A (a) (b)		15,663		935,238
SPS Commerce, Inc. (a) (b)		11,909		2,201,974
Tenable Holdings, Inc. (a) (b)		37,055		1,831,629
Terawulf, Inc. (a)		50,108		131,784
Varonis Systems, Inc. (a) (b)		35,077		1,654,582
Verint Systems, Inc. (a)		20,243		671,055
Viant Technology, Inc. - Class A (a) (b)		5,421		57,788
Weave Communications, Inc. (a)		12,297		141,170
Workiva, Inc. (a) (b)		15,901		1,348,405
Xperi, Inc. (a)		14,065		169,624
Yext, Inc. (a)		27,253		164,336
Zeta Global Holdings Corp. - Class A (a)		45,460		496,878
Zuora, Inc. - Class A (a) (b)		42,438		387,035

				54,079,315


Specialized REITs—0.4%
Farmland Partners, Inc. (b)		11,713		130,014
Four Corners Property Trust, Inc. (b)		30,138		737,477
Gladstone Land Corp. (b)		10,827		144,432
Outfront Media, Inc.		49,314		827,982
PotlatchDeltic Corp.		25,038		1,177,287
Safehold, Inc. (b)		16,229		334,318
Uniti Group, Inc. (b)		76,868		453,521

				3,805,031


Specialty Retail—2.7%
1-800-Flowers.com, Inc. - Class A (a) (b)		5,222		56,554
Aaron’s Co., Inc.		10,896		81,720
Abercrombie & Fitch Co. - Class A (a) (b)		15,853		1,986,856
Academy Sports & Outdoors, Inc.		23,534		1,589,486
America’s Car-Mart, Inc. (a)		2,086		133,233
American Eagle Outfitters, Inc. (b)		59,338		1,530,327
Arko Corp. (b)		31,060		177,042
Asbury Automotive Group, Inc. (a) (b)		6,726		1,585,856
BARK, Inc. (a) (b)		15,708		19,478
Beyond, Inc. (a) (b)		15,298		549,351
Boot Barn Holdings, Inc. (a) (b)		9,755		928,188
Buckle, Inc. (b)		10,213		411,278
Build-A-Bear Workshop, Inc. (b)		4,959		148,125
Caleres, Inc. (b)		11,585		475,333
Camping World Holdings, Inc. - Class A (b)		14,044		391,125
Carvana Co. (a) (b)		33,203		2,918,876
Children’s Place, Inc. (a) (b)		3,971		45,825
Designer Brands, Inc. - Class A (b)		12,484		136,450
Destination XL Group, Inc. (a) (b)		19,032		68,515
EVgo, Inc. (a) (b)		35,639		89,454
Foot Locker, Inc.		27,087		771,980
Genesco, Inc. (a) (b)		3,961		111,463
Group 1 Automotive, Inc. (b)		4,437		1,296,625
Guess?, Inc. (b)		9,669		304,283
Haverty Furniture Cos., Inc.		4,960		169,235
Hibbett, Inc. (b)		3,579		274,903
Leslie’s, Inc. (a) (b)		59,966		389,779

Specialty Retail—(Continued)
MarineMax, Inc. (a) (b)		7,339		244,095
Monro, Inc. (b)		10,365		326,912
National Vision Holdings, Inc. (a)		26,199		580,570
ODP Corp. (a) (b)		10,699		567,582
OneWater Marine, Inc. - Class A (a) (b)		3,644		102,579
Revolve Group, Inc. (a) (b)		14,472		306,372
Sally Beauty Holdings, Inc. (a) (b)		36,161		449,120
Shoe Carnival, Inc. (b)		6,132		224,676
Signet Jewelers Ltd. (b)		14,078		1,408,785
Sleep Number Corp. (a)		7,502		120,257
Sonic Automotive, Inc. - Class A (b)		5,221		297,284
Stitch Fix, Inc. - Class A (a)		30,367		80,169
ThredUp, Inc. - Class A (a) (b)		26,844		53,688
Tile Shop Holdings, Inc. (a)		3,523		24,767
Tilly’s, Inc. - Class A (a)		2,105		14,314
Upbound Group, Inc. (b)		17,965		632,548
Urban Outfitters, Inc. (a)		20,536		891,673
Warby Parker, Inc. - Class A (a) (b)		28,895		393,261
Winmark Corp.		884		319,743
Zumiez, Inc. (a)		5,111		77,636

				23,757,371


Technology Hardware, Storage & Peripherals—2.0%
Corsair Gaming, Inc. (a) (b)		13,698		169,033
Eastman Kodak Co. (a)		19,043		94,263
Immersion Corp.		5,654		42,292
IonQ, Inc. (a) (b)		54,320		542,657
Super Micro Computer, Inc. (a)		16,354		16,518,031
Turtle Beach Corp. (a)		5,364		92,475
Xerox Holdings Corp. (b)		35,996		644,328

				18,103,079


Textiles, Apparel & Luxury Goods—0.5%
Figs, Inc. - Class A (a) (b)		36,061		179,584
G-III Apparel Group Ltd. (a) (b)		13,787		399,961
Hanesbrands, Inc. (a) (b)		113,805		660,069
Kontoor Brands, Inc. (b)		18,006		1,084,862
Movado Group, Inc.		4,696		131,159
Oxford Industries, Inc. (b)		4,988		560,651
Rocky Brands, Inc.		2,393		64,922
Steven Madden Ltd.		24,319		1,028,207
Vera Bradley, Inc. (a)		2,528		17,191
Wolverine World Wide, Inc. (b)		25,334		283,994

				4,410,600


Tobacco—0.1%
Ispire Technology, Inc. (a)		6,668		40,875
Turning Point Brands, Inc.		5,617		164,578
Universal Corp.		8,059		416,811
Vector Group Ltd.		45,013		493,343

				1,115,607


Trading Companies & Distributors—2.1%
Alta Equipment Group, Inc.		7,040		91,168
Applied Industrial Technologies, Inc.		12,300		2,429,865

BHFTII-207

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Trading Companies & Distributors—(Continued)
Beacon Roofing Supply, Inc. (a)		20,512	$	2,010,586
BlueLinx Holdings, Inc. (a)		2,908		378,738
Boise Cascade Co. (b)		12,883		1,975,866
Custom Truck One Source, Inc. (a) (b)		18,130		105,517
Distribution Solutions Group, Inc. (a) (b)		3,388		120,206
DNOW, Inc. (a)		33,807		513,866
DXP Enterprises, Inc. (a)		3,964		212,986
EVI Industries, Inc.		2,121		52,813
FTAI Aviation Ltd. (b)		32,382		2,179,309
GATX Corp. (b)		11,522		1,544,294
Global Industrial Co.		3,989		178,627
GMS, Inc. (a)		12,891		1,254,810
H&E Equipment Services, Inc.		10,452		670,809
Herc Holdings, Inc.		9,172		1,543,648
Hudson Technologies, Inc. (a)		11,149		122,751
Karat Packaging, Inc.		2,148		61,454
McGrath RentCorp (b)		7,968		983,012
MRC Global, Inc. (a)		28,411		357,126
Rush Enterprises, Inc. - Class A (b)		19,997		1,070,239
Rush Enterprises, Inc. - Class B		2,708		144,309
Titan Machinery, Inc. (a)		6,828		169,403
Transcat, Inc. (a)		2,736		304,872
Willis Lease Finance Corp. (a)		960		47,635
Xometry, Inc. - Class A (a) (b)		11,657		196,887

				18,720,796


Water Utilities—0.4%
American States Water Co.		12,211		882,123
Artesian Resources Corp. - Class A (b)		2,874		106,654
California Water Service Group		18,416		855,976
Consolidated Water Co. Ltd. (b)		5,040		147,722
Global Water Resources, Inc. (b)		1,288		16,538
Middlesex Water Co.		5,991		314,527
Pure Cycle Corp. (a)		6,829		64,875
SJW Group		10,391		588,027
York Water Co. (b)		5,110		185,340

				3,161,782


Wireless Telecommunication Services—0.1%
Gogo, Inc. (a) (b)		17,676		155,195
Spok Holdings, Inc.		5,955		94,982
Telephone & Data Systems, Inc.		32,125		514,643
Tingo Group, Inc. (a) (b)		44,053		1,128

				765,948

Total Common Stocks (Cost $593,958,329)				856,921,608


Mutual Funds—1.2%

Investment Company Securities—1.2%
iShares Russell 2000 ETF (b) (Cost $10,319,155)		52,300		10,998,690

Rights—0.0%
Security Description	Shares/ Principal Amount*		Value

Biotechnology—0.0%
Cartesian Therapeutics, Inc. (a) (b)		39,548		7,119
Chinook Therapeutics, Inc. (a)		19,453		7,587
Icosavax, Inc. (a)		9,579		2,969
Tobira Therapeutics, Inc. (a) (d) (e)		4,660		37,094

Total Rights (Cost $17,058)				54,769


Warrants—0.0%

Energy Equipment & Services—0.0%
Nabors Industries Ltd., Expires 06/11/26 (a) (Cost $0)		882		7,232


Short-Term Investment—2.2%

U.S. Treasury—2.2%
U.S. Treasury Bill 2.660%, 04/02/24 (f)		19,375,000		19,372,190

Total Short-Term Investments (Cost $19,372,176)				19,372,190


Securities Lending Reinvestments (g)—21.4%

Certificates of Deposit—3.2%
Bank of Montreal 5.630%, SOFR + 0.300%, 03/04/25 (h)		2,000,000		1,999,997
Bank of Nova Scotia 5.630%, SOFR + 0.300%, 03/13/25 (h)		2,000,000		1,999,972
5.640%, SOFR + 0.310%, 03/19/25 (h)		1,000,000		999,990
Barclays Bank PLC 5.650%, SOFR + 0.320%, 06/20/24 (h)		2,000,000		2,001,012
Credit Industriel et Commercial
Zero Coupon, 11/18/24		1,000,000		965,990
Mitsubishi UFJ Trust & Banking Corp.
Zero Coupon, 05/09/24		1,000,000		993,770
Zero Coupon, 05/14/24		1,000,000		993,030
Zero Coupon, 06/13/24		1,000,000		988,590
Mizuho Bank Ltd. 5.500%, SOFR + 0.170%, 08/06/24 (h)		1,000,000		1,000,104
5.730%, SOFR + 0.400%, 04/18/24 (h)		1,000,000		1,000,154
Nordea Bank Abp 5.450%, SOFR + 0.120%, 07/15/24 (h)		2,000,000		1,999,872
Oversea-Chinese Banking Corp. Ltd. 5.500%, SOFR + 0.170%, 09/16/24 (h)		2,000,000		1,999,872
SMBC Bank International PLC
Zero Coupon, 05/07/24		2,000,000		1,988,140
Zero Coupon, 05/13/24		1,000,000		993,180
Standard Chartered Bank 5.720%, SOFR + 0.390%, 04/19/24 (h)		2,000,000		2,000,342
Sumitomo Mitsui Trust Bank Ltd.
Zero Coupon, 05/07/24		2,000,000		1,988,140
5.730%, SOFR + 0.400%, 04/24/24 (h)		2,000,000		2,000,432

BHFTII-208

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)


Security Description	Principal Amount*		Value

Certificates of Deposit—(Continued)
Westpac Banking Corp. 5.880%, SOFR + 0.550%, 10/11/24 (h)		2,000,000	$	2,003,756

				27,916,343


Commercial Paper—1.0%
Australia & New Zealand Banking Group Ltd. 5.640%, 04/18/24		2,000,000		1,993,674
5.660%, SOFR + 0.330%, 04/18/24 (h)		2,000,000		2,000,196
ING U.S. Funding LLC 5.560%, SOFR + 0.230%, 11/20/24 (h)		3,000,000		2,999,988
Old Line Funding LLC 5.450%, SOFR + 0.120%, 05/08/24 (h)		2,000,000		1,999,994

				8,993,852


Repurchase Agreements—13.9%
Bank of Nova Scotia
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $12,405,632; collateralized by various Common Stock with an aggregate market value of $13,811,390.		12,400,000		12,400,000
Barclays Bank PLC
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $7,003,162; collateralized by various Common Stock with an aggregate market value of $7,800,025.		7,000,000		7,000,000
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $2,000,908; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $2,046,687.		2,000,000		2,000,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/24 at 5.620%, due on 05/03/24 with a maturity value of $2,010,928; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Repurchase Agreement dated 03/29/24 at 5.870%, due on 09/30/24 with a maturity value of $6,180,992; collateralized by various Common Stock with an aggregate market value of $6,600,002.		6,000,000		6,000,000
Deutsche Bank Securities, Inc.
Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $17,100,451; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $17,434,760.		17,092,902		17,092,902
National Bank of Canada
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $19,020,135; collateralized by various Common Stock with an aggregate market value of $21,168,633.		19,000,000		19,000,000

Repurchase Agreements—(Continued)
National Bank of Canada
Repurchase Agreement dated 03/29/24 at 5.470%, due on 04/01/24 with a maturity value of $6,002,735; collateralized by various Common Stock with an aggregate market value of $6,695,017.		6,000,000		6,000,000
NBC Global Finance Ltd.
Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $25,611,691; collateralized by various Common Stock with an aggregate market value of $28,557,121.		25,600,000		25,600,000
Royal Bank of Canada Toronto
Repurchase Agreement dated 03/29/24 at 5.590%, due on 05/03/24 with a maturity value of $3,016,304; collateralized by various Common Stock with an aggregate market value of $3,333,851.		3,000,000		3,000,000
Societe Generale
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $2,000,903; collateralized by various Common Stock with an aggregate market value of $2,226,255.		2,000,000		2,000,000
Repurchase Agreement dated 03/29/24 at 5.440%, due on 04/01/24 with a maturity value of $2,121,962; collateralized by various Common Stock with an aggregate market value of $2,364,017.		2,121,000		2,121,000
TD Prime Services LLC
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $19,458,785; collateralized by various Common Stock with an aggregate market value of $21,398,234.		19,450,000		19,450,000

				123,663,902


Time Deposits—1.7%
Banco Santander SA (NY) 5.310%, 04/01/24		5,000,000		5,000,000
DZ Bank AG (NY) 5.290%, 04/01/24		5,000,000		5,000,000
National Bank of Canada 5.390%, OBFR + 0.070%, 04/05/24 (h)		5,000,000		5,000,000

				15,000,000


Mutual Funds—1.6%
BlackRock Liquidity Funds FedFund, Institutional Shares 5.200% (i)		1,000,000		1,000,000
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (i)		2,000,000		2,000,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (i)		5,000,000		5,000,000
Morgan Stanley Liquidity Funds Government Portfolio, Institutional Shares 5.220% (i)		2,000,000		2,000,000
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 5.260% (i)		2,000,000		2,000,000
STIT-Government & Agency Portfolio, Institutional Class 5.230% (i)		2,000,000		2,000,000

				14,000,000

BHFTII-209

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)


Security Description	Value
Total Securities Lending Reinvestments (Cost $189,573,872)	$	189,574,097

Total Investments - 121.4% (Cost $813,240,590)		1,076,928,586
Other assets and liabilities (net) — (21.4)%		(189,839,380	)

Net Assets—100.0%	$	887,089,206


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.
(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $272,380,189 and the collateral received consisted of cash in the amount of $189,457,152 and non-cash collateral with a value of $89,474,748. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)		All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2024, the market value of securities pledged was $3,263,595.
(d)		Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent less than 0.05% of net assets.
(e)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(f)		The rate shown represents current yield to maturity.
(g)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(h)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. 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.
(i)		The rate shown represents the annualized seven-day yield as of March 31, 2024.

Futures Contracts

Futures Contracts—Long

Expiration
Date

Number of
Contracts

Notional Amount

Value/
Unrealized
Appreciation/
(Depreciation)

Russell 2000 Index E-Mini Futures

06/21/24

178

USD 19,098,510

459,914

Glossary of Abbreviations

Currencies


(USD)—		United States Dollar

Index Abbreviations


(OBFR)—		U.S. Overnight Bank Funding Rate
(SOFR)—		Secured Overnight Financing Rate

Other Abbreviations


(ETF)—		Exchange-Traded Fund
(REIT)—		Real Estate Investment Trust

BHFTII-210

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	7,362,691	$	—	$	—	$	7,362,691
Air Freight & Logistics		1,427,798		—		—		1,427,798
Automobile Components		10,823,731		—		—		10,823,731
Automobiles		703,449		—		—		703,449
Banks		72,656,646		—		—		72,656,646
Beverages		3,478,459		—		—		3,478,459
Biotechnology		67,324,403		—		—		67,324,403
Broadline Retail		740,377		—		—		740,377
Building Products		17,620,340		—		—		17,620,340
Capital Markets		11,721,657		—		—		11,721,657
Chemicals		16,396,090		—		—		16,396,090
Commercial Services & Supplies		13,704,996		—		—		13,704,996
Communications Equipment		4,134,006		—		—		4,134,006
Construction & Engineering		16,721,638		—		—		16,721,638
Construction Materials		3,398,045		—		—		3,398,045
Consumer Finance		6,445,844		—		—		6,445,844
Consumer Staples Distribution & Retail		5,122,311		—		—		5,122,311
Containers & Packaging		2,409,978		—		—		2,409,978
Distributors		65,609		—		—		65,609
Diversified Consumer Services		9,193,120		—		—		9,193,120
Diversified REITs		4,727,340		—		—		4,727,340
Diversified Telecommunication Services		3,258,365		—		—		3,258,365
Electric Utilities		5,662,335		—		—		5,662,335
Electrical Equipment		12,219,404		—		—		12,219,404
Electronic Equipment, Instruments & Components		22,577,648		—		—		22,577,648
Energy Equipment & Services		22,040,999		—		—		22,040,999
Entertainment		3,560,292		—		—		3,560,292
Financial Services		20,971,370		—		—		20,971,370
Food Products		7,632,833		—		—		7,632,833
Gas Utilities		7,672,149		—		—		7,672,149
Ground Transportation		3,835,110		—		—		3,835,110
Health Care Equipment & Supplies		22,562,042		—		—		22,562,042
Health Care Providers & Services		21,943,005		—		0		21,943,005
Health Care REITs		4,069,113		—		—		4,069,113
Health Care Technology		3,116,716		—		—		3,116,716
Hotel & Resort REITs		7,098,546		—		—		7,098,546
Hotels, Restaurants & Leisure		18,718,795		—		—		18,718,795
Household Durables		20,989,183		—		—		20,989,183
Household Products		2,682,288		—		—		2,682,288
Independent Power and Renewable Electricity Producers		1,436,769		—		—		1,436,769
Industrial Conglomerates		221,895		—		—		221,895

BHFTII-211

Brighthouse Funds Trust II

MetLife Russell 2000 Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy—(Continued)


Description	Level 1		Level 2			Level 3		Total
Industrial REITs	$	3,847,285	$	—		$	—	$	3,847,285
Insurance		15,896,490		—			—		15,896,490
Interactive Media & Services		5,263,237		—			—		5,263,237
IT Services		3,857,290		—			—		3,857,290
Leisure Products		3,333,117		—			—		3,333,117
Life Sciences Tools & Services		2,079,530		—			—		2,079,530
Machinery		32,341,299		—			—		32,341,299
Marine Transportation		2,639,927		—			—		2,639,927
Media		5,404,921		—			—		5,404,921
Metals & Mining		15,649,152		—			—		15,649,152
Mortgage Real Estate Investment Trusts		9,062,892		—			—		9,062,892
Multi-Utilities		3,405,687		—			—		3,405,687
Office REITs		5,665,073		—			—		5,665,073
Oil, Gas & Consumable Fuels		40,197,052		—			—		40,197,052
Paper & Forest Products		951,372		—			—		951,372
Passenger Airlines		3,268,623		—			—		3,268,623
Personal Care Products		8,514,668		—			—		8,514,668
Pharmaceuticals		13,828,596		—			—		13,828,596
Professional Services		21,326,876		—			—		21,326,876
Real Estate Management & Development		5,487,977		—			—		5,487,977
Residential REITs		3,219,972		—			—		3,219,972
Retail REITs		9,899,188		—			—		9,899,188
Semiconductors & Semiconductor Equipment		25,414,470		—			—		25,414,470
Software		54,079,315		—			—		54,079,315
Specialized REITs		3,805,031		—			—		3,805,031
Specialty Retail		23,757,371		—			—		23,757,371
Technology Hardware, Storage & Peripherals		18,103,079		—			—		18,103,079
Textiles, Apparel & Luxury Goods		4,410,600		—			—		4,410,600
Tobacco		1,115,607		—			—		1,115,607
Trading Companies & Distributors		18,720,796		—			—		18,720,796
Water Utilities		3,161,782		—			—		3,161,782
Wireless Telecommunication Services		765,948		—			—		765,948
Total Common Stocks		856,921,608		—			0		856,921,608
Total Mutual Funds*		10,998,690		—			—		10,998,690
Rights
Biotechnology		—		17,675			37,094		54,769
Total Warrants*		7,232		—			—		7,232
Total Short-Term Investment*		—		19,372,190			—		19,372,190
Securities Lending Reinvestments
Certificates of Deposit		—		27,916,343			—		27,916,343
Commercial Paper		—		8,993,852			—		8,993,852
Repurchase Agreements		—		123,663,902			—		123,663,902
Time Deposits		—		15,000,000			—		15,000,000
Mutual Funds		14,000,000		—			—		14,000,000
Total Securities Lending Reinvestments		14,000,000		175,574,097			—		189,574,097
Total Investments	$	881,927,530	$	194,963,962		$	37,094	$	1,076,928,586
Collateral for Securities Loaned (Liability)		—	$	(189,457,152	)	$	—	$	(189,457,152	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	459,914	$	—		$	—	$	459,914

* See Schedule of Investments for additional detailed categorizations.

During the period ended March 31, 2024, a transfer out of Level 3 in the amount of $30,397 was due to the resumption of trading activity which resulted in the availability of significant observable inputs.

BHFTII-212

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—97.4% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—1.4%
Axon Enterprise, Inc. (a)		12,382	$	3,874,080
Boeing Co. (a)		100,815		19,456,287
General Dynamics Corp.		39,909		11,273,893
Howmet Aerospace, Inc.		68,757		4,705,042
Huntington Ingalls Industries, Inc.		6,959		2,028,340
L3Harris Technologies, Inc.		33,317		7,099,853
Lockheed Martin Corp.		37,804		17,195,905
Northrop Grumman Corp.		24,791		11,866,460
RTX Corp.		233,230		22,746,922
Textron, Inc.		34,453		3,305,076
TransDigm Group, Inc.		9,775		12,038,890

				115,590,748


Air Freight & Logistics—0.4%
C.H. Robinson Worldwide, Inc. (b)		20,504		1,561,175
Expeditors International of Washington, Inc. (b)		25,556		3,106,843
FedEx Corp.		40,412		11,708,973
United Parcel Service, Inc. - Class B		127,134		18,895,926

				35,272,917


Automobile Components—0.1%
Aptiv PLC (a) (b)		49,049		3,906,753
BorgWarner, Inc. (b)		40,390		1,403,148

				5,309,901


Automobiles—1.3%
Ford Motor Co. (b)		686,033		9,110,518
General Motors Co.		202,926		9,202,694
Tesla, Inc. (a)		487,047		85,617,992

				103,931,204


Banks—3.3%
Bank of America Corp.		1,210,240		45,892,301
Citigroup, Inc.		334,528		21,155,551
Citizens Financial Group, Inc. (b)		81,952		2,974,038
Comerica, Inc.		23,185		1,274,943
Fifth Third Bancorp (b)		119,728		4,455,079
Huntington Bancshares, Inc.		254,586		3,551,475
JPMorgan Chase & Co.		508,183		101,789,055
KeyCorp		164,629		2,602,784
M&T Bank Corp. (b)		29,205		4,247,575
PNC Financial Services Group, Inc.		69,965		11,306,344
Regions Financial Corp.		162,421		3,417,338
Truist Financial Corp.		234,446		9,138,705
U.S. Bancorp		273,692		12,234,032
Wells Fargo & Co.		632,610		36,666,076

				260,705,296


Beverages—1.4%
Brown-Forman Corp. - Class B (b)		31,784		1,640,690
Coca-Cola Co.		683,975		41,845,590
Constellation Brands, Inc. - Class A		28,276		7,684,286
Keurig Dr Pepper, Inc. (b)		183,074		5,614,880
Molson Coors Beverage Co. - Class B		32,548		2,188,853
Monster Beverage Corp. (a)		129,851		7,697,567
PepsiCo, Inc.		241,598		42,282,066

				108,953,932


Biotechnology—1.9%
AbbVie, Inc.		310,347		56,514,189
Amgen, Inc.		94,043		26,738,306
Biogen, Inc. (a)		25,470		5,492,096
Gilead Sciences, Inc.		219,022		16,043,361
Incyte Corp. (a)		32,697		1,862,748
Moderna, Inc. (a) (b)		58,309		6,213,407
Regeneron Pharmaceuticals, Inc. (a)		18,571		17,874,402
Vertex Pharmaceuticals, Inc. (a)		45,299		18,935,435

				149,673,944


Broadline Retail—3.7%
Amazon.com, Inc. (a)		1,606,792		289,833,141
eBay, Inc. (b)		91,230		4,815,120
Etsy, Inc. (a) (b)		21,049		1,446,487

				296,094,748


Building Products—0.5%
A.O. Smith Corp. (b)		21,590		1,931,441
Allegion PLC (b)		15,431		2,078,710
Builders FirstSource, Inc. (a)		21,682		4,521,781
Carrier Global Corp.		146,860		8,536,972
Johnson Controls International PLC		119,793		7,824,879
Masco Corp.		38,630		3,047,134
Trane Technologies PLC		40,000		12,008,000

				39,948,917


Capital Markets—2.7%
Ameriprise Financial, Inc.		17,613		7,722,244
Bank of New York Mellon Corp.		133,477		7,690,945
BlackRock, Inc. (b)		24,581		20,493,180
Blackstone, Inc.		126,449		16,611,605
Cboe Global Markets, Inc.		18,554		3,408,926
Charles Schwab Corp.		261,599		18,924,072
CME Group, Inc.		63,279		13,623,336
FactSet Research Systems, Inc. (b)		6,695		3,042,141
Franklin Resources, Inc. (b)		52,758		1,483,027
Goldman Sachs Group, Inc.		57,324		23,943,661
Intercontinental Exchange, Inc.		100,654		13,832,879
Invesco Ltd.		79,013		1,310,826
MarketAxess Holdings, Inc.		6,663		1,460,863
Moody’s Corp.		27,664		10,872,782
Morgan Stanley		220,216		20,735,539
MSCI, Inc.		13,903		7,791,936
Nasdaq, Inc.		66,796		4,214,828
Northern Trust Corp. (b)		36,057		3,206,188
Raymond James Financial, Inc. (b)		33,068		4,246,593
S&P Global, Inc.		56,478		24,028,565
State Street Corp.		53,075		4,103,759
T Rowe Price Group, Inc. (b)		39,357		4,798,405

				217,546,300

BHFTII-213

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Chemicals—1.5%
Air Products & Chemicals, Inc.		39,076	$	9,466,942
Albemarle Corp. (b)		20,628		2,717,533
Celanese Corp. (b)		17,603		3,025,252
CF Industries Holdings, Inc.		33,584		2,794,525
Corteva, Inc.		123,359		7,114,114
Dow, Inc.		123,449		7,151,401
DuPont de Nemours, Inc. (b)		75,605		5,796,635
Eastman Chemical Co.		20,619		2,066,436
Ecolab, Inc.		44,609		10,300,218
FMC Corp. (b)		21,930		1,396,941
International Flavors & Fragrances, Inc.		44,873		3,858,629
Linde PLC		85,234		39,575,851
LyondellBasell Industries NV - Class A		44,992		4,601,782
Mosaic Co.		57,451		1,864,859
PPG Industries, Inc. (b)		41,449		6,005,960
Sherwin-Williams Co.		41,394		14,377,378

				122,114,456


Commercial Services & Supplies—0.6%
Cintas Corp.		15,146		10,405,757
Copart, Inc. (a) (b)		153,598		8,896,396
Republic Services, Inc.		35,949		6,882,077
Rollins, Inc.		49,349		2,283,378
Veralto Corp.		38,547		3,417,577
Waste Management, Inc.		64,428		13,732,828

				45,618,013


Communications Equipment—0.8%
Arista Networks, Inc. (a)		44,295		12,844,664
Cisco Systems, Inc.		714,280		35,649,715
F5, Inc. (a)		10,337		1,959,792
Juniper Networks, Inc.		56,585		2,097,040
Motorola Solutions, Inc.		29,174		10,356,186

				62,907,397


Construction & Engineering—0.1%
Quanta Services, Inc. (b)		25,538		6,634,772


Construction Materials—0.2%
Martin Marietta Materials, Inc.		10,865		6,670,458
Vulcan Materials Co.		23,356		6,374,320

				13,044,778


Consumer Finance—0.5%
American Express Co.		100,521		22,887,626
Capital One Financial Corp. (b)		66,866		9,955,679
Discover Financial Services		43,955		5,762,061
Synchrony Financial		71,515		3,083,727

				41,689,093


Consumer Staples Distribution & Retail—1.8%
Costco Wholesale Corp.		77,999		57,144,407
Dollar General Corp.		38,583		6,021,263
Dollar Tree, Inc. (a) (b)		36,382		4,844,263
Kroger Co.		116,343		6,646,676
Sysco Corp.		87,508		7,103,900
Target Corp.		81,151		14,380,769
Walgreens Boots Alliance, Inc.		125,818		2,728,992
Walmart, Inc.		752,455		45,275,217

				144,145,487


Containers & Packaging—0.2%
Amcor PLC (b)		254,063		2,416,139
Avery Dennison Corp.		14,156		3,160,327
Ball Corp. (b)		55,423		3,733,293
International Paper Co.		60,823		2,373,314
Packaging Corp. of America		15,636		2,967,400
Westrock Co.		45,169		2,233,607

				16,884,080


Distributors—0.1%
Genuine Parts Co.		24,643		3,817,940
LKQ Corp.		47,038		2,512,300
Pool Corp. (b)		6,799		2,743,396

				9,073,636


Diversified Telecommunication Services—0.7%
AT&T, Inc.		1,256,831		22,120,225
Verizon Communications, Inc.		739,029		31,009,657

				53,129,882


Electric Utilities—1.4%
Alliant Energy Corp.		44,855		2,260,692
American Electric Power Co., Inc.		92,438		7,958,912
Constellation Energy Corp.		56,141		10,377,664
Duke Energy Corp. (b)		135,526		13,106,719
Edison International		67,424		4,768,900
Entergy Corp.		37,172		3,928,337
Evergy, Inc. (b)		40,380		2,155,484
Eversource Energy		61,404		3,670,117
Exelon Corp.		174,978		6,573,923
FirstEnergy Corp.		90,779		3,505,885
NextEra Energy, Inc.		360,650		23,049,141
NRG Energy, Inc.		39,684		2,686,210
PG&E Corp. (b)		375,029		6,285,486
Pinnacle West Capital Corp. (b)		19,933		1,489,593
PPL Corp. (b)		129,572		3,567,117
Southern Co.		191,709		13,753,204
Xcel Energy, Inc.		96,998		5,213,643

				114,351,027


Electrical Equipment—0.6%
AMETEK, Inc.		40,570		7,420,253
Eaton Corp. PLC		70,189		21,946,697
Emerson Electric Co.		100,493		11,397,916
Generac Holdings, Inc. (a)		10,798		1,362,060
Hubbell, Inc.		9,427		3,912,676
Rockwell Automation, Inc. (b)		20,143		5,868,260

				51,907,862

BHFTII-214

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Electronic Equipment, Instruments & Components—0.6%
Amphenol Corp. - Class A		105,442	$	12,162,735
CDW Corp.		23,547		6,022,852
Corning, Inc.		134,974		4,448,743
Jabil, Inc.		22,420		3,003,159
Keysight Technologies, Inc. (a)		30,703		4,801,335
TE Connectivity Ltd.		54,280		7,883,627
Teledyne Technologies, Inc. (a)		8,294		3,560,780
Trimble, Inc. (a)		43,728		2,814,334
Zebra Technologies Corp. - Class A (a)		9,028		2,721,400

				47,418,965


Energy Equipment & Services—0.3%
Baker Hughes Co.		175,935		5,893,823
Halliburton Co.		156,462		6,167,732
Schlumberger NV		250,908		13,752,267

				25,813,822


Entertainment—1.3%
Electronic Arts, Inc.		42,765		5,673,633
Live Nation Entertainment, Inc. (a) (b)		24,940		2,637,904
Netflix, Inc. (a)		76,071		46,200,201
Take-Two Interactive Software, Inc. (a) (b)		27,872		4,138,713
Walt Disney Co.		322,434		39,453,024
Warner Bros Discovery, Inc. (a)		390,073		3,405,337

				101,508,812


Financial Services—4.2%
Berkshire Hathaway, Inc. - Class B (a)		319,823		134,491,968
Corpay, Inc. (a)		12,692		3,915,990
Fidelity National Information Services, Inc.		104,147		7,725,624
Fiserv, Inc. (a)		105,501		16,861,170
Global Payments, Inc.		45,771		6,117,752
Jack Henry & Associates, Inc. (b)		12,808		2,225,134
Mastercard, Inc. - Class A		145,025		69,839,689
PayPal Holdings, Inc. (a)		188,391		12,620,313
Visa, Inc. - Class A (b)		278,013		77,587,868

				331,385,508


Food Products—0.8%
Archer-Daniels-Midland Co.		93,758		5,888,940
Bunge Global SA		25,538		2,618,156
Campbell Soup Co. (b)		34,584		1,537,259
Conagra Brands, Inc.		84,024		2,490,471
General Mills, Inc.		99,824		6,984,685
Hershey Co.		26,347		5,124,492
Hormel Foods Corp.		50,945		1,777,471
J.M. Smucker Co.”		18,658		2,348,483
Kellanova		46,360		2,655,964
Kraft Heinz Co. (b)		140,141		5,171,203
Lamb Weston Holdings, Inc.		25,377		2,703,412
McCormick & Co., Inc.		44,198		3,394,848
Mondelez International, Inc. - Class A		236,684		16,567,880
Tyson Foods, Inc. - Class A		50,332		2,955,998

				62,219,262


Gas Utilities—0.0%
Atmos Energy Corp.		26,514		3,151,719


Ground Transportation—1.1%
CSX Corp.		347,365		12,876,821
J.B. Hunt Transport Services, Inc. (b)		14,334		2,856,049
Norfolk Southern Corp.		39,706		10,119,868
Old Dominion Freight Line, Inc. (b)		31,456		6,898,615
Uber Technologies, Inc. (a)		361,731		27,849,670
Union Pacific Corp.		107,187		26,360,499

				86,961,522


Health Care Equipment & Supplies—2.5%
Abbott Laboratories		305,165		34,685,054
Align Technology, Inc. (a)		12,521		4,105,886
Baxter International, Inc.		89,266		3,815,229
Becton Dickinson & Co.		50,783		12,566,253
Boston Scientific Corp. (a)		257,515		17,637,202
Cooper Cos., Inc.		34,934		3,544,404
Dentsply Sirona, Inc.		37,240		1,235,996
DexCom, Inc. (a)		67,766		9,399,144
Edwards Lifesciences Corp. (a)		106,610		10,187,652
GE HealthCare Technologies, Inc. (a)		74,440		6,767,340
Hologic, Inc. (a)		41,261		3,216,707
IDEXX Laboratories, Inc. (a)		14,599		7,882,438
Insulet Corp. (a)		12,274		2,103,764
Intuitive Surgical, Inc. (a)		61,932		24,716,442
Medtronic PLC		233,727		20,369,308
ResMed, Inc. (b)		25,855		5,120,066
STERIS PLC (b)		17,369		3,904,899
Stryker Corp.		59,439		21,271,435
Teleflex, Inc.		8,260		1,868,164
Zimmer Biomet Holdings, Inc.		36,734		4,848,153

				199,245,536


Health Care Providers & Services—2.6%
Cardinal Health, Inc.		42,755		4,784,285
Cencora, Inc. (b)		29,104		7,071,981
Centene Corp. (a)		93,951		7,373,275
Cigna Group (b)		51,417		18,674,140
CVS Health Corp. (b)		221,211		17,643,789
DaVita, Inc. (a) (b)		9,468		1,307,057
Elevance Health, Inc.		41,301		21,416,221
HCA Healthcare, Inc.		34,817		11,612,514
Henry Schein, Inc. (a) (b)		22,840		1,724,877
Humana, Inc.		21,485		7,449,279
Laboratory Corp. of America Holdings		14,924		3,260,297
McKesson Corp.		23,099		12,400,698
Molina Healthcare, Inc. (a)		10,195		4,188,412
Quest Diagnostics, Inc.		19,511		2,597,109
UnitedHealth Group, Inc.		162,584		80,430,305
Universal Health Services, Inc. - Class B (b)		10,724		1,956,701

				203,890,940


Health Care REITs—0.2%
Healthpeak Properties, Inc.		124,437		2,333,194

BHFTII-215

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Health Care REITs—(Continued)
Ventas, Inc.		70,730	$	3,079,584
Welltower, Inc.		97,289		9,090,684

				14,503,462


Hotel & Resort REITs—0.0%
Host Hotels & Resorts, Inc. (b)		124,002		2,564,361


Hotels, Restaurants & Leisure—2.0%
Airbnb, Inc. - Class A (a)		76,562		12,629,668
Booking Holdings, Inc.		6,133		22,249,788
Caesars Entertainment, Inc. (a)		37,917		1,658,490
Carnival Corp. (a)		177,099		2,893,798
Chipotle Mexican Grill, Inc. (a)		4,821		14,013,538
Darden Restaurants, Inc. (b)		20,990		3,508,478
Domino’s Pizza, Inc.		6,132		3,046,868
Expedia Group, Inc. (a)		22,985		3,166,184
Hilton Worldwide Holdings, Inc.		44,325		9,454,966
Las Vegas Sands Corp.		64,911		3,355,899
Marriott International, Inc. - Class A		43,365		10,941,423
McDonald’s Corp.		127,501		35,948,907
MGM Resorts International (a) (b)		48,034		2,267,685
Norwegian Cruise Line Holdings Ltd. (a) (b)		74,781		1,565,166
Royal Caribbean Cruises Ltd. (a) (b)		41,468		5,764,467
Starbucks Corp.		199,018		18,188,255
Wynn Resorts Ltd.		16,750		1,712,352
Yum! Brands, Inc. (b)		49,394		6,848,478

				159,214,410


Household Durables—0.4%
DR Horton, Inc.		52,494		8,637,888
Garmin Ltd.		26,905		4,005,347
Lennar Corp. - Class A		43,446		7,471,843
Mohawk Industries, Inc. (a)		9,291		1,216,099
NVR, Inc. (a)		562		4,552,177
PulteGroup, Inc.		37,285		4,497,317

				30,380,671


Household Products—1.2%
Church & Dwight Co., Inc. (b)		43,309		4,517,562
Clorox Co.		21,815		3,340,095
Colgate-Palmolive Co.		144,732		13,033,116
Kimberly-Clark Corp.		59,217		7,659,719
Procter & Gamble Co.		413,615		67,109,034

				95,659,526


Independent Power and Renewable Electricity Producers—0.0%
AES Corp.		117,707		2,110,487


Industrial Conglomerates—0.8%
3M Co.		97,153		10,305,019
General Electric Co.		191,308		33,580,293
Honeywell International, Inc.		115,883		23,784,986

				67,670,298


Industrial REITs—0.3%
Prologis, Inc.		162,416		21,149,812


Insurance—2.1%
Aflac, Inc.		92,533		7,944,883
Allstate Corp.		46,142		7,983,027
American International Group, Inc.		123,405		9,646,569
Aon PLC - Class A		35,194		11,744,942
Arch Capital Group Ltd. (a)		65,215		6,028,475
Arthur J. Gallagher & Co.		38,109		9,528,774
Assurant, Inc.		9,130		1,718,631
Brown & Brown, Inc.		41,522		3,634,836
Chubb Ltd.		71,239		18,460,162
Cincinnati Financial Corp.		27,597		3,426,720
Everest Group Ltd.		7,629		3,032,528
Globe Life, Inc.		15,055		1,751,950
Hartford Financial Services Group, Inc.		52,470		5,407,034
Loews Corp.		32,028		2,507,472
Marsh & McLennan Cos., Inc.		86,484		17,813,974
MetLife, Inc. (c)		107,906		7,996,914
Principal Financial Group, Inc.		38,555		3,327,682
Progressive Corp.		102,884		21,278,469
Prudential Financial, Inc. (b)		63,456		7,449,734
Travelers Cos., Inc.		40,113		9,231,606
W.R. Berkley Corp.		35,625		3,150,675
Willis Towers Watson PLC		18,024		4,956,600

				168,021,657


Interactive Media & Services—6.0%
Alphabet, Inc. - Class A (a)		1,035,875		156,344,614
Alphabet, Inc. - Class C (a) (d)		867,261		132,049,160
Match Group, Inc. (a) (b)		47,779		1,733,422
Meta Platforms, Inc. - Class A		386,726		187,786,411

				477,913,607


IT Services—1.1%
Accenture PLC - Class A		110,213		38,200,928
Akamai Technologies, Inc. (a)		26,513		2,883,554
Cognizant Technology Solutions Corp. - Class A (b)		87,538		6,415,660
EPAM Systems, Inc. (a)		10,143		2,801,091
Gartner, Inc. (a)		13,702		6,531,332
International Business Machines Corp.		160,841		30,714,197
VeriSign, Inc. (a)		15,491		2,935,700

				90,482,462


Leisure Products—0.0%
Hasbro, Inc. (b)		22,928		1,295,891


Life Sciences Tools & Services—1.4%
Agilent Technologies, Inc.		51,510		7,495,220
Bio-Rad Laboratories, Inc. - Class A (a)		3,679		1,272,456
Bio-Techne Corp.		27,631		1,944,946
Charles River Laboratories International, Inc. (a) (b)		9,017		2,443,156
Danaher Corp.		115,601		28,867,882
Illumina, Inc. (a)		27,913		3,833,013
IQVIA Holdings, Inc. (a)		32,080		8,112,711

BHFTII-216

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Life Sciences Tools & Services—(Continued)
Mettler-Toledo International, Inc. (a)		3,776	$	5,026,951
Revvity, Inc.		21,692		2,277,660
Thermo Fisher Scientific, Inc.		67,917		39,474,040
Waters Corp. (a) (b)		10,393		3,577,582
West Pharmaceutical Services, Inc.		13,006		5,146,604

				109,472,221


Machinery—1.8%
Caterpillar, Inc.		89,487		32,790,721
Cummins, Inc. (b)		23,956		7,058,635
Deere & Co.		45,772		18,800,391
Dover Corp.		24,591		4,357,279
Fortive Corp.		61,646		5,302,789
IDEX Corp.		13,293		3,243,758
Illinois Tool Works, Inc.		47,796		12,825,101
Ingersoll Rand, Inc.		71,155		6,756,167
Nordson Corp.		9,538		2,618,563
Otis Worldwide Corp.		71,271		7,075,072
PACCAR, Inc.		91,946		11,391,190
Parker-Hannifin Corp.		22,572		12,545,292
Pentair PLC		29,056		2,482,545
Snap-on, Inc.		9,278		2,748,329
Stanley Black & Decker, Inc.		26,949		2,639,116
Westinghouse Air Brake Technologies Corp.		31,492		4,587,755
Xylem, Inc.		42,376		5,476,674

				142,699,377


Media—0.6%
Charter Communications, Inc. - Class A (a) (b)		17,359		5,045,046
Comcast Corp. - Class A		696,515		30,193,925
Fox Corp. - Class A		42,063		1,315,310
Fox Corp. - Class B (b)		23,189		663,669
Interpublic Group of Cos., Inc. (b)		67,324		2,196,782
News Corp. - Class A		66,800		1,748,824
News Corp. - Class B (b)		20,154		545,367
Omnicom Group, Inc.		34,803		3,367,539
Paramount Global - Class B (b)		84,806		998,167

				46,074,629


Metals & Mining—0.4%
Freeport-McMoRan, Inc.		252,065		11,852,096
Newmont Corp. (b)		202,585		7,260,646
Nucor Corp.		43,213		8,551,853
Steel Dynamics, Inc. (b)		26,737		3,963,226

				31,627,821


Multi-Utilities—0.6%
Ameren Corp. (b)		46,220		3,418,431
CenterPoint Energy, Inc. (b)		110,956		3,161,136
CMS Energy Corp. (b)		51,757		3,123,017
Consolidated Edison, Inc.		60,682		5,510,532
Dominion Energy, Inc. (b)		147,092		7,235,456
DTE Energy Co.		36,290		4,069,561
NiSource, Inc. (b)		72,670		2,010,052
Public Service Enterprise Group, Inc.		87,593		5,849,461
Sempra		110,623		7,946,050
WEC Energy Group, Inc. (b)		55,447		4,553,308

				46,877,004


Office REITs—0.1%
Alexandria Real Estate Equities, Inc. (b)		27,680		3,568,229
Boston Properties, Inc. (b)		25,380		1,657,568

				5,225,797


Oil, Gas & Consumable Fuels—3.5%
APA Corp. (b)		63,480		2,182,442
Chevron Corp. (b)		304,882		48,092,087
ConocoPhillips		207,087		26,358,033
Coterra Energy, Inc.		132,220		3,686,294
Devon Energy Corp.		112,622		5,651,372
Diamondback Energy, Inc.		31,462		6,234,825
EOG Resources, Inc.		102,506		13,104,367
EQT Corp.		72,304		2,680,309
Exxon Mobil Corp.		698,024		81,138,310
Hess Corp.		48,385		7,385,486
Kinder Morgan, Inc. (b)		339,926		6,234,243
Marathon Oil Corp.		102,875		2,915,478
Marathon Petroleum Corp.		64,687		13,034,430
Occidental Petroleum Corp. (b)		115,696		7,519,083
ONEOK, Inc.		102,401		8,209,488
Phillips 66		75,585		12,346,054
Pioneer Natural Resources Co.		41,066		10,779,825
Targa Resources Corp. (b)		39,194		4,389,336
Valero Energy Corp. (b)		59,845		10,214,943
Williams Cos., Inc.		213,836		8,333,189

				280,489,594


Passenger Airlines—0.2%
American Airlines Group, Inc. (a)		115,008		1,765,373
Delta Air Lines, Inc. (b)		112,562		5,388,343
Southwest Airlines Co. (b)		104,882		3,061,505
United Airlines Holdings, Inc. (a)		57,659		2,760,713

				12,975,934


Personal Care Products—0.2%
Estee Lauder Cos., Inc. - Class A		40,944		6,311,518
Kenvue, Inc. (b)		302,957		6,501,457

				12,812,975


Pharmaceuticals—3.8%
Bristol-Myers Squibb Co.		357,671		19,396,498
Catalent, Inc. (a)		31,770		1,793,417
Eli Lilly & Co.		140,171		109,047,431
Johnson & Johnson		423,153		66,938,573
Merck & Co., Inc.		445,432		58,774,752
Pfizer, Inc.		992,530		27,542,708
Viatris, Inc.		210,878		2,517,883
Zoetis, Inc.		80,703		13,655,755

				299,667,017

BHFTII-217

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Professional Services—0.7%
Automatic Data Processing, Inc.		72,209	$	18,033,476
Broadridge Financial Solutions, Inc.		20,702		4,241,012
Dayforce, Inc. (a) (b)		27,444		1,817,067
Equifax, Inc. (b)		21,674		5,798,228
Jacobs Solutions, Inc.		22,087		3,395,435
Leidos Holdings, Inc.		24,170		3,168,445
Paychex, Inc. (b)		56,292		6,912,658
Paycom Software, Inc.		8,446		1,680,838
Robert Half, Inc.		18,305		1,451,220
Verisk Analytics, Inc.		25,486		6,007,815

				52,506,194


Real Estate Management & Development—0.1%
CBRE Group, Inc. - Class A (a)		52,273		5,083,027
CoStar Group, Inc. (a)		71,782		6,934,141

				12,017,168


Residential REITs—0.3%
AvalonBay Communities, Inc.		24,934		4,626,753
Camden Property Trust		18,768		1,846,771
Equity Residential		60,671		3,828,947
Essex Property Trust, Inc. (b)		11,286		2,762,926
Invitation Homes, Inc.		101,116		3,600,741
Mid-America Apartment Communities, Inc.		20,516		2,699,495
UDR, Inc.		53,193		1,989,950

				21,355,583


Retail REITs—0.3%
Federal Realty Investment Trust (b)		12,912		1,318,573
Kimco Realty Corp.		117,095		2,296,233
Realty Income Corp. (b)		146,186		7,908,663
Regency Centers Corp.		28,876		1,748,730
Simon Property Group, Inc.		57,289		8,965,156

				22,237,355


Semiconductors & Semiconductor Equipment—10.0%
Advanced Micro Devices, Inc. (a)		284,024		51,263,492
Analog Devices, Inc.		87,159		17,239,179
Applied Materials, Inc.		146,260		30,163,200
Broadcom, Inc.		77,353		102,524,440
Enphase Energy, Inc. (a)		23,863		2,886,946
First Solar, Inc. (a) (b)		18,781		3,170,233
Intel Corp.		743,200		32,827,144
KLA Corp.		23,772		16,606,406
Lam Research Corp.		23,046		22,390,802
Microchip Technology, Inc.		94,989		8,521,463
Micron Technology, Inc.		194,045		22,875,965
Monolithic Power Systems, Inc.		8,443		5,719,457
NVIDIA Corp.		434,179		392,306,777
NXP Semiconductors NV		45,310		11,226,459
ON Semiconductor Corp. (a)		75,116		5,524,782
Qorvo, Inc. (a)		16,971		1,948,780
QUALCOMM, Inc.		196,171		33,211,750
Skyworks Solutions, Inc.		28,164		3,050,724
Teradyne, Inc. (b)		26,873		3,032,080
Texas Instruments, Inc.		159,835		27,844,855

				794,334,934


Software—10.4%
Adobe, Inc. (a)		79,453		40,091,984
ANSYS, Inc. (a)		15,278		5,303,911
Autodesk, Inc. (a)		37,602		9,792,313
Cadence Design Systems, Inc. (a)		47,823		14,886,343
Fair Isaac Corp. (a)		4,369		5,459,546
Fortinet, Inc. (a)		112,036		7,653,179
Gen Digital, Inc. (b)		98,521		2,206,870
Intuit, Inc. (b)		49,208		31,985,200
Microsoft Corp.		1,306,127		549,513,751
Oracle Corp.		280,260		35,203,459
Palo Alto Networks, Inc. (a) (b)		55,424		15,747,621
PTC, Inc. (a)		21,015		3,970,574
Roper Technologies, Inc.		18,777		10,530,893
Salesforce, Inc.		170,156		51,247,584
ServiceNow, Inc. (a)		36,035		27,473,084
Synopsys, Inc. (a)		26,810		15,321,915
Tyler Technologies, Inc. (a) (b)		7,405		3,147,199

				829,535,426


Specialized REITs—1.0%
American Tower Corp.		81,943		16,191,117
Crown Castle, Inc.		76,234		8,067,844
Digital Realty Trust, Inc. (b)		53,235		7,667,969
Equinix, Inc.		16,503		13,620,421
Extra Space Storage, Inc. (b)		37,138		5,459,286
Iron Mountain, Inc. (b)		51,326		4,116,859
Public Storage		27,818		8,068,889
SBA Communications Corp. (b)		18,964		4,109,499
VICI Properties, Inc.		181,850		5,417,312
Weyerhaeuser Co.		128,276		4,606,391

				77,325,587


Specialty Retail—2.0%
AutoZone, Inc. (a)		3,040		9,581,016
Bath & Body Works, Inc. (b)		39,716		1,986,594
Best Buy Co., Inc. (b)		33,697		2,764,165
CarMax, Inc. (a) (b)		27,759		2,418,086
Home Depot, Inc.		174,948		67,110,053
Lowe’s Cos., Inc.		101,094		25,751,675
O’Reilly Automotive, Inc. (a)		10,384		11,722,290
Ross Stores, Inc.		59,179		8,685,110
TJX Cos., Inc.		200,333		20,317,773
Tractor Supply Co. (b)		19,004		4,973,727
Ulta Beauty, Inc. (a)		8,537		4,463,826

				159,774,315


Technology Hardware, Storage & Peripherals—5.8%
Apple, Inc.		2,551,520		437,534,650
Hewlett Packard Enterprise Co.		228,514		4,051,553
HP, Inc.		153,279		4,632,091

BHFTII-218

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares/ Principal Amount*		Value

Technology Hardware, Storage & Peripherals—(Continued)
NetApp, Inc.		36,216	$	3,801,594
Seagate Technology Holdings PLC (b)		34,250		3,186,962
Super Micro Computer, Inc. (a)		8,851		8,939,776
Western Digital Corp. (a)		56,995		3,889,339

				466,035,965


Textiles, Apparel & Luxury Goods—0.4%
Deckers Outdoor Corp. (a)		4,512		4,246,965
Lululemon Athletica, Inc. (a)		20,186		7,885,661
NIKE, Inc. - Class B		213,964		20,108,337
Ralph Lauren Corp. (b)		6,863		1,288,597
Tapestry, Inc.		40,318		1,914,298
VF Corp. (b)		58,094		891,162

				36,335,020


Tobacco—0.5%
Altria Group, Inc. (b)		309,982		13,521,415
Philip Morris International, Inc.		272,891		25,002,273

				38,523,688


Trading Companies & Distributors—0.3%
Fastenal Co. (b)		100,587		7,759,281
United Rentals, Inc.		11,811		8,517,030
WW Grainger, Inc.		7,765		7,899,335

				24,175,646


Water Utilities—0.1%
American Water Works Co., Inc.		34,225		4,182,637


Wireless Telecommunication Services—0.2%
T-Mobile U.S., Inc. (b)		91,796		14,982,943

Total Common Stocks (Cost $2,481,294,489)				7,748,335,950


Mutual Funds—2.2%

Investment Company Securities—2.2%
SPDR S&P 500 ETF Trust (b) (Cost $166,915,713)		327,500		171,305,425


Short-Term Investment—0.3%

U.S. Treasury—0.3%
U.S. Treasury Bill 2.657%, 04/02/24 (e)		27,850,000		27,845,961

Total Short-Term Investments (Cost $27,845,947)				27,845,961

Securities Lending Reinvestments (f)—2.3%
Security Description	Principal Amount*		Value

Certificates of Deposit—0.5%
Bank of Montreal
5.630%, SOFR + 0.300%, 03/04/25 (g)		1,000,000		999,999
5.880%, SOFR + 0.550%, 11/08/24 (g)		2,000,000		2,004,090
Bank of Nova Scotia
5.630%, SOFR + 0.300%, 03/13/25 (g)		1,000,000		999,986
5.640%, SOFR + 0.310%, 03/19/25 (g)		2,000,000		1,999,981
BNP Paribas SA 5.690%, SOFR + 0.360%, 04/10/24 (g)		2,000,000		2,000,154
Credit Agricole Corporate & Investment Bank 5.700%, SOFR + 0.370%, 05/01/24 (g)		5,000,000		5,001,450
Credit Industriel et Commercial Zero Coupon, 11/18/24		1,000,000		965,990
Mitsubishi UFJ Trust & Banking Corp.
Zero Coupon, 06/13/24		1,000,000		988,590
5.560%, SOFR + 0.240%, 07/11/24 (g)		1,000,000		999,988
MUFG Bank Ltd. (London)
Zero Coupon, 06/10/24		1,000,000		989,040
5.510%, SOFR + 0.200%, 09/23/24 (g)		2,000,000		2,000,000
National Westminster Bank PLC
Zero Coupon, 04/29/24		1,000,000		995,250
5.880%, 05/02/24		3,000,000		3,001,470
Nordea Bank Abp 5.450%, SOFR + 0.120%, 07/15/24 (g)		2,000,000		1,999,872
Oversea-Chinese Banking Corp. Ltd. 5.450%, SOFR + 0.120%, 07/19/24 (g)		2,000,000		1,999,940
Royal Bank of Canada 5.880%, FEDEFF PRV + 0.550%, 09/20/24 (g)		5,000,000		5,009,830
SMBC Bank International PLC Zero Coupon, 05/13/24		1,000,000		993,180
Standard Chartered Bank 5.720%, SOFR + 0.390%, 04/19/24 (g)		4,000,000		4,000,684
Westpac Banking Corp. 5.880%, SOFR + 0.550%, 10/11/24 (g)		5,000,000		5,009,390

				41,958,884


Commercial Paper—0.1%
Australia & New Zealand Banking Group Ltd.
5.640%, 04/18/24		1,000,000		996,837
5.660%, SOFR + 0.330%, 04/18/24 (g)		1,000,000		1,000,098
ING U.S. Funding LLC
5.560%, SOFR + 0.230%, 11/20/24 (g)		1,000,000		999,996
5.810%, SOFR + 0.480%, 06/13/24 (g)		7,000,000		7,005,621
Old Line Funding LLC 5.440%, SOFR + 0.110%, 06/07/24 (g)		1,000,000		999,998

				11,002,550


Repurchase Agreements—1.3%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $17,808,084; collateralized by various Common Stock with an aggregate market value of $19,826,028.		17,800,000		17,800,000

BHFTII-219

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)


Security Description	Principal Amount*		Value

Repurchase Agreements—(Continued)
Barclays Bank PLC
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $2,000,903; collateralized by various Common Stock with an aggregate market value of $2,228,579.		2,000,000	$	2,000,000
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $5,002,271; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $5,116,717.		5,000,000		5,000,000
Repurchase Agreement dated 03/29/24 at 5.670%, due on 07/02/24 with a maturity value of $10,149,625; collateralized by various Common Stock with an aggregate market value of $11,140,379.		10,000,000		10,000,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/24 at 5.870%, due on 09/30/24 with a maturity value of $20,603,306; collateralized by various Common Stock with an aggregate market value of $22,000,007.		20,000,000		20,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $9,586,615; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $9,774,031.		9,582,383		9,582,383
National Bank of Canada
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $10,010,597; collateralized by various Common Stock with an aggregate market value of $11,141,386.		10,000,000		10,000,000
Repurchase Agreement dated 03/29/24 at 5.470%, due on 04/01/24 with a maturity value of $1,000,456; collateralized by various Common Stock with an aggregate market value of $1,115,836.		1,000,000		1,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $17,307,900; collateralized by various Common Stock with an aggregate market value of $19,298,367.		17,300,000		17,300,000
Societe Generale
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $5,002,258; collateralized by various Common Stock with an aggregate market value of $5,565,637.		5,000,000		5,000,000
Repurchase Agreement dated 03/29/24 at 5.440%, due on 04/01/24 with a maturity value of $500,227; collateralized by various Common Stock with an aggregate market value of $557,288.		500,000		500,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $9,004,065; collateralized by various Common Stock with an aggregate market value of $9,901,499.		9,000,000		9,000,000

				107,182,383

Security Description	Shares/ Principal Amount*		Value

Time Deposits—0.2%
Banco Santander SA (NY) 5.310%, 04/01/24		4,000,000		4,000,000
Credit Agricole Corporate & Investment Bank (NY) 5.300%, 04/01/24		1,000,000		1,000,000
DZ Bank AG (NY) 5.290%, 04/01/24		4,000,000		4,000,000
National Bank of Canada 5.390%, OBFR + 0.070%, 04/05/24 (g)		5,000,000		5,000,000

				14,000,000


Mutual Funds—0.2%
AB Government Money Market Portfolio, Institutional Class 5.210% (h)		775,000		775,000
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (h)		1,000,000		1,000,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (h)		6,000,000		6,000,000
Morgan Stanley Liquidity Funds Government Portfolio, Institutional Shares 5.220% (h)		3,000,000		3,000,000
STIT-Government & Agency Portfolio, Institutional Class 5.230% (h)		5,000,000		5,000,000

				15,775,000

Total Securities Lending Reinvestments (Cost $189,888,813)				189,918,817

Total Investments—102.2% (Cost $2,865,944,962)				8,137,406,153
Other assets and liabilities (net)—(2.2)%				(178,617,229	)

Net Assets—100.0%			$	7,958,788,924


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.
(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $256,092,809 and the collateral received consisted of cash in the amount of $189,803,802 and non-cash collateral with a value of $71,468,890. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)		Affiliated Issuer.
(d)		All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2024, the market value of securities pledged was $18,271,200.
(e)		The rate shown represents current yield to maturity.
(f)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(g)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(h)		The rate shown represents the annualized seven-day yield as of March 31, 2024.

BHFTII-220

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Transactions in Securities of Affiliated Issuers

A summary of the Portfolio’s transactions in the securities of affiliated issuers for the period ended March 31, 2024 is as follows.


Security Description	Market Value December 31, 2023		Purchases		Sales			Realized Gain/(Loss)		Change in Unrealized Appreciation/ (Depreciation)		Ending Value as of March 31, 2024		Income earned from affiliates during the period
MetLife, Inc.	$	7,583,458	$	—	$	(482,910	)	$	209,046	$	687,320	$	7,996,914	$	58,439

Futures Contracts

Futures Contracts—Long

Expiration
Date

Number of
Contracts

Notional
Amount

Value/
Unrealized
Appreciation/
(Depreciation)

S&P 500 Index E-Mini Future

06/21/24

120

USD

31,851,000

777,082

Glossary of Abbreviations

Currencies


(USD)—		United States Dollar

Index Abbreviations


(FEDEFF PRV)—		Effective Federal Funds Rate
(OBFR)—		U.S. Overnight Bank Funding Rate
(SOFR)—		Secured Overnight Financing Rate

Other Abbreviations


(ETF)—		Exchange-Traded Fund
(REIT)—		Real Estate Investment Trust

BHFTII-221

Brighthouse Funds Trust II

MetLife Stock Index Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	7,748,335,950	$	—		$	—	$	7,748,335,950
Total Mutual Funds*		171,305,425		—			—		171,305,425
Total Short-Term Investment*		—		27,845,961			—		27,845,961
Securities Lending Reinvestments
Certificates of Deposit		—		41,958,884			—		41,958,884
Commercial Paper		—		11,002,550			—		11,002,550
Repurchase Agreements		—		107,182,383			—		107,182,383
Time Deposits		—		14,000,000			—		14,000,000
Mutual Funds		15,775,000		—			—		15,775,000
Total Securities Lending Reinvestments		15,775,000		174,143,817			—		189,918,817
Total Investments	$	7,935,416,375	$	201,989,778		$	—	$	8,137,406,153

Collateral for Securities Loaned (Liability)	$	—	$	(189,803,802	)	$	—	$	(189,803,802	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	777,082	$	—		$	—	$	777,082


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-222

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—60.6% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—1.3%
General Dynamics Corp.		9,538	$	2,694,390
Howmet Aerospace, Inc.		27,104		1,854,727
L3Harris Technologies, Inc.		16,904		3,602,242

				8,151,359


Automobile Components—1.2%
Aptiv PLC (a)		52,432		4,176,209
Lear Corp. (b)		23,919		3,465,385

				7,641,594


Banks—5.1%
Bank of America Corp.		254,003		9,631,794
JPMorgan Chase & Co.		74,548		14,931,964
PNC Financial Services Group, Inc.		18,003		2,909,285
Truist Financial Corp.		121,482		4,735,368

				32,208,411


Beverages—0.9%
Constellation Brands, Inc. - Class A (b)		11,558		3,141,002
Diageo PLC		61,283		2,263,219

				5,404,221


Building Products—3.1%
Johnson Controls International PLC		142,753		9,324,626
Masco Corp.		129,101		10,183,487

				19,508,113


Capital Markets—7.1%
Cboe Global Markets, Inc.		15,221		2,796,554
Charles Schwab Corp.		168,106		12,160,788
CME Group, Inc.		10,335		2,225,022
Goldman Sachs Group, Inc.		37,359		15,604,481
Invesco Ltd.		73,164		1,213,791
Morgan Stanley		51,397		4,839,541
Northern Trust Corp.		68,428		6,084,618

				44,924,795


Chemicals—2.0%
Air Products & Chemicals, Inc.		3,227		781,805
Axalta Coating Systems Ltd. (a)		114,414		3,934,698
DuPont de Nemours, Inc.		44,942		3,445,703
PPG Industries, Inc. (b)		30,501		4,419,595

				12,581,801


Construction Materials—0.2%
Summit Materials, Inc. - Class A (a)		31,316		1,395,754


Consumer Staples Distribution & Retail—0.3%
Target Corp.		9,256		1,640,256


Distributors—0.7%
LKQ Corp.		81,177		4,335,664


Electric Utilities—2.4%
Duke Energy Corp. (b)		46,806		4,526,608
Exelon Corp.		61,044		2,293,423
PG&E Corp.		261,718		4,386,394
Southern Co.		55,302		3,967,366

				15,173,791


Electrical Equipment—2.6%
Eaton Corp. PLC		36,868		11,527,886
Regal Rexnord Corp.		28,172		5,073,777

				16,601,663


Entertainment—0.4%
Electronic Arts, Inc.		9,530		1,264,345
Warner Bros Discovery, Inc. (a)		152,624		1,332,408

				2,596,753


Financial Services—1.1%
Fidelity National Information Services, Inc.		40,620		3,013,192
Fiserv, Inc. (a)		25,897		4,138,858

				7,152,050


Food Products—0.2%
Archer-Daniels-Midland Co. (b)		23,046		1,447,519


Ground Transportation—1.1%
Union Pacific Corp.		27,782		6,832,427


Health Care Equipment & Supplies—1.7%
Becton Dickinson & Co.		12,722		3,148,059
Boston Scientific Corp. (a)		31,194		2,136,477
Medtronic PLC		65,492		5,707,628

				10,992,164


Health Care Providers & Services—2.9%
Cigna Group		31,653		11,496,053
McKesson Corp.		12,235		6,568,360

				18,064,413


Hotels, Restaurants & Leisure—0.5%
Booking Holdings, Inc.		471		1,708,731
Wendy’s Co.		61,957		1,167,270

				2,876,001


Industrial Conglomerates—0.6%
Honeywell International, Inc.		18,004		3,695,321


Insurance—3.7%
Aon PLC - Class A (b)		21,407		7,143,944
Chubb Ltd.		27,007		6,998,324
Travelers Cos., Inc.		13,611		3,132,435
Willis Towers Watson PLC		21,299		5,857,225

				23,131,928

BHFTII-223

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Interactive Media & Services—0.9%
Alphabet, Inc. - Class A (a)		36,980	$	5,581,391


IT Services—1.3%
Accenture PLC - Class A		10,182		3,529,183
Amdocs Ltd.		25,866		2,337,510
Cognizant Technology Solutions Corp. - Class A		30,665		2,247,438

				8,114,131


Life Sciences Tools & Services—0.6%
ICON PLC (a)		10,850		3,645,058


Machinery—0.7%
Ingersoll Rand, Inc. (b)		17,351		1,647,477
Stanley Black & Decker, Inc. (b)		31,776		3,111,824

				4,759,301


Media—2.4%
Comcast Corp. - Class A		250,490		10,858,741
Omnicom Group, Inc.		46,671		4,515,886

				15,374,627


Metals & Mining—0.2%
Glencore PLC		238,633		1,312,827


Multi-Utilities—0.4%
Dominion Energy, Inc. (b)		15,978		785,958
National Grid PLC		142,423		1,916,083

				2,702,041


Oil, Gas & Consumable Fuels—3.8%
Chevron Corp.		11,911		1,878,841
ConocoPhillips		66,994		8,526,997
Hess Corp.		39,288		5,996,920
Pioneer Natural Resources Co.		14,604		3,833,550
Suncor Energy, Inc.		107,403		3,963,734

				24,200,042


Personal Care Products—0.7%
Kenvue, Inc.		198,865		4,267,643


Pharmaceuticals—2.7%
Johnson & Johnson		46,692		7,386,207
Organon & Co. (b)		41,717		784,280
Pfizer, Inc.		225,848		6,267,282
Roche Holding AG		11,029		2,815,448

				17,253,217


Professional Services—0.5%
Dun & Bradstreet Holdings, Inc.		294,299		2,954,762


Semiconductors & Semiconductor Equipment—3.1%
Analog Devices, Inc.		7,324		1,448,614
Applied Materials, Inc.		14,608		3,012,608

Semiconductors & Semiconductor Equipment—(Continued)
Intel Corp.		128,204		5,662,771
NXP Semiconductors NV		26,114		6,470,266
Taiwan Semiconductor Manufacturing Co. Ltd. (ADR)		23,025		3,132,551

				19,726,810


Software—2.2%
Microsoft Corp.		27,365		11,513,003
Oracle Corp.		19,946		2,505,417

				14,018,420


Tobacco—1.2%
Altria Group, Inc.		40,861		1,782,357
Philip Morris International, Inc.		60,647		5,556,478

				7,338,835


Wireless Telecommunication Services—0.8%
T-Mobile U.S., Inc.		31,647		5,165,423

Total Common Stocks (Cost $269,877,688)				382,770,526


U.S. Treasury & Government Agencies—18.5%

Agency Sponsored Mortgage - Backed—12.2%
Federal Home Loan Mortgage Corp.
1.500%, 03/01/51		104,651		79,268
1.500%, 10/01/51		169,598		127,876
2.000%, 04/01/37		436,191		386,759
2.000%, 02/01/42		449,461		377,115
2.000%, 12/01/50		95,988		76,471
2.000%, 08/01/51		487,192		386,975
2.000%, 11/01/51		223,178		178,173
2.000%, 02/01/52		1,015,860		808,370
2.000%, 03/01/52		2,150,995		1,703,622
2.500%, 04/01/37		185,195		168,561
2.500%, 04/01/48		60,034		51,273
2.500%, 02/01/51		163,916		135,529
2.500%, 09/01/51		34,330		28,384
2.500%, 10/01/51		276,020		231,185
2.500%, 12/01/51		2,342,706		1,939,154
2.500%, 03/01/52		230,081		190,589
2.500%, 04/01/52		524,414		434,084
2.500%, 05/01/52		1,704,762		1,409,791
2.500%, 06/01/52		218,080		180,303
2.500%, 09/01/52		60,102		49,777
3.000%, 01/01/38		179,162		163,592
3.000%, 10/01/42		206,483		184,540
3.000%, 04/01/43		542,169		484,687
3.000%, 05/01/43		458,972		410,344
3.000%, 05/01/46		185,147		163,741
3.000%, 10/01/46		430,015		380,058
3.000%, 11/01/46		450,741		397,773
3.000%, 03/01/48		38,227		33,511
3.000%, 07/01/50		17,939		15,750

BHFTII-224

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal Home Loan Mortgage Corp.
3.000%, 01/01/52		317,871	$	273,700
3.000%, 03/01/52		49,915		42,978
3.000%, 04/01/52		160,230		138,061
3.000%, 05/01/52		361,439		311,183
3.000%, 06/01/52		786,507		677,261
3.500%, 11/01/37		123,936		116,369
3.500%, 02/01/42		183,239		168,888
3.500%, 04/01/42		116,034		107,259
3.500%, 12/01/42		315,811		292,328
3.500%, 04/01/43		48,481		44,897
3.500%, 07/01/43		15,573		14,314
3.500%, 08/01/43		186,666		171,344
3.500%, 12/01/45		104,090		95,027
3.500%, 12/01/46		497,525		453,803
3.500%, 05/01/52		98,419		89,263
4.000%, 08/01/37		33,331		32,042
4.000%, 11/01/40		148,202		140,610
4.000%, 01/01/41		323,802		307,186
4.000%, 04/01/44		111,493		105,761
4.000%, 08/01/47		182,905		171,543
4.500%, 08/01/24		1,456		1,451
4.500%, 04/01/35		12,149		11,887
4.500%, 06/01/38		229,509		225,882
4.500%, 07/01/39		55,728		54,722
4.500%, 09/01/39		30,192		29,647
4.500%, 10/01/39		17,272		16,960
4.500%, 12/01/39		27,785		27,284
4.500%, 05/01/42		50,878		49,961
4.500%, 10/01/52		479,804		456,883
5.000%, 09/01/33		47,586		47,896
5.000%, 03/01/34		16,087		16,191
5.000%, 04/01/34		8,930		8,989
5.000%, 08/01/35		8,484		8,540
5.000%, 10/01/35		31,462		31,627
5.000%, 11/01/35		19,076		19,201
5.000%, 12/01/36		12,982		13,066
5.000%, 07/01/39		89,599		89,577
5.000%, 08/01/52		519,504		507,715
5.000%, 02/01/53		738,099		720,591
5.000%, 09/01/53		97,085		94,715
5.500%, 12/01/33		64,130		65,541
5.500%, 01/01/34		42,165		43,093
5.500%, 04/01/34		7,818		7,990
5.500%, 11/01/34		8,238		8,378
5.500%, 05/01/35		13,072		13,360
5.500%, 09/01/35		12,444		12,654
5.500%, 10/01/35		15,569		15,832
5.500%, 03/01/53		493,655		492,229
5.500%, 04/01/53		188,624		189,981
6.000%, 04/01/34		31,601		32,531
6.000%, 07/01/34		15,214		15,521
6.000%, 08/01/34		74,215		76,788
6.000%, 09/01/34		1,906		1,937
6.000%, 07/01/35		11,549		11,979
6.000%, 08/01/35		14,341		14,875
6.000%, 11/01/35		15,534		16,112

Agency Sponsored Mortgage - Backed—(Continued)
Federal Home Loan Mortgage Corp.
6.000%, 03/01/36		12,374		12,615
6.000%, 10/01/36		6,815		6,997
6.000%, 05/01/37		30,526		31,775
6.000%, 06/01/37		9,375		9,678
6.000%, 12/01/52		98,591		101,220
6.500%, 05/01/34		7,258		7,520
6.500%, 06/01/34		21,199		21,963
6.500%, 08/01/34		10,911		11,208
6.500%, 10/01/34		20,865		21,434
6.500%, 11/01/34		32,435		33,537
6.500%, 05/01/37		13,614		14,114
6.500%, 07/01/37		14,322		14,944
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
0.196%, 11/25/27 (c) (d)		5,207,000		37,877
0.246%, 12/25/27 (c) (d)		3,235,000		28,995
0.279%, 09/25/27 (c) (d)		3,341,000		32,139
0.284%, 11/25/24 (c) (d)		4,908,000		10,135
0.284%, 11/25/27 (c) (d)		3,564,522		30,222
0.290%, 12/25/27 (c) (d)		3,579,000		37,783
0.294%, 11/25/32 (c) (d)		2,608,284		46,850
0.322%, 11/25/27 (c) (d)		3,220,644		32,694
0.327%, 08/25/27 (c) (d)		3,107,000		34,948
0.327%, 01/25/31 (c) (d)		1,566,939		26,648
0.348%, 10/25/24 (c) (d)		4,732,534		5,355
0.349%, 11/25/31 (c) (d)		2,325,421		51,618
0.364%, 12/25/27 (c) (d)		5,476,940		65,817
0.392%, 08/25/24 (c) (d)		4,897,000		9,265
0.417%, 08/25/27 (c) (d)		2,012,298		24,689
0.461%, 08/25/24 (c) (d)		6,816,790		8,698
0.498%, 12/25/31 (c) (d)		2,074,891		64,243
0.508%, 08/25/31 (c) (d)		484,090		14,752
0.514%, 03/25/31 (c) (d)		1,256,563		35,221
0.536%, 09/25/31 (c) (d)		1,578,796		51,666
0.549%, 07/25/24 (c) (d)		4,483,000		5,554
0.568%, 07/25/27 (c) (d)		3,713,315		58,409
0.568%, 12/25/31 (c) (d)		3,517,256		124,521
0.639%, 06/25/27 (c) (d)		4,356,000		88,791
0.640%, 07/25/24 (c) (d)		1,070,482		689
0.732%, 03/25/31 (c) (d)		539,591		23,255
0.744%, 06/25/27 (c) (d)		1,417,599		27,343
0.781%, 01/25/31 (c) (d)		658,188		29,550
0.856%, 09/25/31 (c) (d)		453,515		23,170
0.936%, 01/25/31 (c) (d)		441,180		23,287
0.938%, 07/25/31 (c) (d)		361,575		20,877
0.942%, 04/25/24 (c) (d)		177,566		16
1.081%, 11/25/30 (c) (d)		400,945		23,964
1.090%, 07/25/29 (c) (d)		254,836		12,010
1.141%, 08/25/29 (c) (d)		1,576,441		78,390
1.170%, 09/25/30 (c) (d)		229,735		14,506
1.216%, 05/25/31 (c) (d)		240,722		17,079
1.341%, 06/25/30 (c) (d)		396,103		27,601
1.600%, 08/25/30 (c) (d)		357,560		30,272
1.666%, 05/25/30 (c) (d)		384,386		33,292
1.798%, 05/25/30 (c) (d)		1,002,928		92,288
1.799%, 04/25/30 (c) (d)		300,000		27,504

BHFTII-225

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
1.868%, 04/25/30 (c) (d)		808,011	$	75,848
Federal Home Loan Mortgage Corp. REMICS
3.000%, 07/15/39		32,324		30,109
3.500%, 08/15/42		132,712		122,469
4.500%, 12/15/40 (d)		8,127		707
5.000%, 01/15/40		43,895		43,957
5.500%, 02/15/36 (d)		14,848		2,606
Federal National Mortgage Association
1.500%, 02/01/42		30,902		25,129
1.500%, 09/01/51		952,423		718,085
1.500%, 10/01/51		492,655		371,181
2.000%, 12/01/36		73,942		65,588
2.000%, 03/01/37		25,930		22,968
2.000%, 04/01/37		207,365		183,671
2.000%, 05/01/37		2,595,862		2,302,424
2.000%, 02/01/42		658,348		552,505
2.000%, 03/01/42		410,883		344,675
2.000%, 04/01/42		688,037		576,923
2.000%, 08/01/50		214,142		170,817
2.000%, 01/01/51		49,219		39,550
2.000%, 02/01/51		80,994		65,338
2.000%, 04/01/51		179,219		142,360
2.000%, 10/01/51		72,240		57,320
2.000%, 12/01/51		64,514		51,154
2.000%, 02/01/52		374,279		296,926
2.000%, 03/01/52		2,076,843		1,644,980
2.000%, 04/01/52		779,153		619,327
2.000%, 07/01/52		113,240		89,803
2.500%, 11/01/31		16,103		15,026
2.500%, 10/01/36		115,199		104,805
2.500%, 07/01/37		245,116		223,667
2.500%, 03/01/42		316,582		275,047
2.500%, 04/01/42		498,989		430,024
2.500%, 01/01/50		466,902		389,567
2.500%, 02/01/50		179,498		150,637
2.500%, 03/01/50		255,096		212,842
2.500%, 06/01/50		36,016		30,356
2.500%, 07/01/50		354,225		299,126
2.500%, 10/01/50		317,951		268,452
2.500%, 05/01/51		925,505		766,191
2.500%, 06/01/51		690,081		570,638
2.500%, 08/01/51		116,174		96,886
2.500%, 10/01/51		45,989		38,143
2.500%, 12/01/51		1,035,507		862,062
2.500%, 01/01/52		1,113,718		930,056
2.500%, 02/01/52		256,377		212,494
2.500%, 03/01/52		597,655		500,826
2.500%, 04/01/52		680,104		562,836
2.500%, 05/01/52		1,053,066		872,198
2.500%, 06/01/52		23,000		19,044
3.000%, 11/01/28		34,640		33,283
3.000%, 09/01/30		24,117		22,955
3.000%, 12/01/31		390,099		369,977
3.000%, 08/01/33		16,148		15,184
3.000%, 10/01/33		393,358		369,859
3.000%, 12/01/33		33,108		31,131

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
3.000%, 07/01/37		53,489		48,870
3.000%, 11/01/37		92,612		84,575
3.000%, 09/01/46		79,254		69,959
3.000%, 04/01/51		23,641		20,428
3.000%, 06/01/51		106,238		93,018
3.000%, 12/01/51		634,707		550,732
3.000%, 01/01/52		291,218		254,738
3.000%, 03/01/52		1,125,075		969,068
3.000%, 05/01/52		539,722		464,848
3.000%, 07/01/52		370,368		318,724
3.000%, 08/01/52		328,267		282,697
3.000%, 09/01/52		24,303		20,954
3.000%, 07/01/53		124,766		107,389
3.500%, 04/01/38		87,922		82,110
3.500%, 11/01/41		24,912		22,934
3.500%, 01/01/42		224,966		207,380
3.500%, 01/01/43		79,724		73,238
3.500%, 04/01/43		275,153		252,704
3.500%, 05/01/43		231,852		213,000
3.500%, 07/01/43		330,561		303,249
3.500%, 08/01/43		129,944		119,423
3.500%, 09/01/43		462,240		424,142
3.500%, 02/01/45		388,191		357,556
3.500%, 09/01/45		315,582		287,928
3.500%, 10/01/45		266,926		244,318
3.500%, 01/01/46		94,970		86,943
3.500%, 05/01/46		99,894		91,350
3.500%, 07/01/46		336,425		307,586
3.500%, 05/01/52		161,399		145,060
3.500%, 02/01/53		248,269		222,366
4.000%, 09/01/40		238,044		225,605
4.000%, 11/01/40		69,077		65,452
4.000%, 12/01/40		158,197		149,113
4.000%, 02/01/41		85,310		80,830
4.000%, 06/01/41		155,438		147,281
4.000%, 11/01/41		70,149		66,467
4.000%, 01/01/42		475,032		450,087
4.000%, 04/01/42		46,818		44,373
4.000%, 10/01/42		56,196		53,261
4.000%, 12/01/42		59,306		56,209
4.000%, 01/01/43		74,934		70,835
4.000%, 04/01/43		15,337		14,532
4.000%, 05/01/43		135,644		128,518
4.000%, 06/01/43		64,041		60,680
4.000%, 07/01/43		51,499		48,810
4.000%, 04/01/44		38,122		36,120
4.000%, 05/01/44		129,617		122,808
4.000%, 11/01/44		45,641		43,239
4.000%, 06/01/47		155,949		148,086
4.500%, 08/01/33		42,607		41,630
4.500%, 03/01/34		117,827		115,199
4.500%, 06/01/38		226,828		223,244
4.500%, 01/01/40		35,716		34,961
4.500%, 08/01/40		10,435		10,234
4.500%, 02/01/41		66,424		65,142
4.500%, 04/01/41		132,209		129,657

BHFTII-226

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
4.500%, 11/01/42		32,090	$	31,472
4.500%, 01/01/43		82,705		81,111
4.500%, 04/01/44		512,072		502,198
4.500%, 06/01/44		46,603		44,785
4.500%, 09/01/52		421,115		402,441
5.000%, 03/01/26		72,918		72,876
5.000%, 11/01/33		24,186		24,313
5.000%, 03/01/34		20,977		21,087
5.000%, 05/01/34		6,528		6,562
5.000%, 08/01/34		8,131		8,173
5.000%, 09/01/34		32,847		33,019
5.000%, 06/01/35		23,677		23,801
5.000%, 07/01/35		65,664		66,008
5.000%, 08/01/35		21,065		21,175
5.000%, 09/01/35		13,470		13,541
5.000%, 10/01/35		55,626		55,918
5.000%, 07/01/39		26,036		26,141
5.000%, 10/01/39		34,018		33,964
5.000%, 11/01/39		16,338		16,334
5.000%, 11/01/40		28,995		28,899
5.000%, 03/01/41		23,139		23,061
5.000%, 02/01/53		396,517		386,974
5.500%, 02/01/33		1,521		1,553
5.500%, 05/01/33		1,263		1,283
5.500%, 06/01/33		48,434		49,146
5.500%, 07/01/33		39,309		40,125
5.500%, 11/01/33		24,276		24,780
5.500%, 01/01/34		22,197		22,567
5.500%, 02/01/34		33,694		34,351
5.500%, 03/01/34		14,350		14,607
5.500%, 04/01/34		15,814		16,065
5.500%, 05/01/34		78,895		80,534
5.500%, 06/01/34		103,272		105,415
5.500%, 07/01/34		25,187		25,551
5.500%, 09/01/34		122,678		124,971
5.500%, 10/01/34		116,026		118,178
5.500%, 11/01/34		160,668		164,003
5.500%, 12/01/34		51,953		52,250
5.500%, 01/01/35		95,385		97,367
5.500%, 04/01/35		26,916		27,475
5.500%, 07/01/35		6,826		6,923
5.500%, 09/01/35		64,346		65,684
5.500%, 11/01/52		1,467,928		1,462,982
5.500%, 11/01/53		509,808		507,238
6.000%, 02/01/32		30,023		30,570
6.000%, 03/01/34		8,753		9,003
6.000%, 04/01/34		77,935		80,147
6.000%, 06/01/34		76,540		78,890
6.000%, 07/01/34		43,165		44,402
6.000%, 08/01/34		72,864		74,893
6.000%, 10/01/34		37,518		38,384
6.000%, 11/01/34		16,479		16,849
6.000%, 12/01/34		4,314		4,398
6.000%, 08/01/35		4,857		4,936
6.000%, 09/01/35		13,064		13,499
6.000%, 10/01/35		31,708		32,675

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
6.000%, 12/01/35		28,646		29,497
6.000%, 02/01/36		39,730		40,644
6.000%, 04/01/36		15,984		16,337
6.000%, 06/01/36		2,706		2,792
6.000%, 07/01/37		25,500		26,237
6.000%, 02/01/53		132,875		138,552
6.500%, 06/01/31		6,543		6,748
6.500%, 09/01/31		13,662		14,077
6.500%, 02/01/32		4,582		4,755
6.500%, 07/01/32		21,530		22,269
6.500%, 08/01/32		13,583		13,890
6.500%, 01/01/33		10,787		11,021
6.500%, 04/01/34		29,081		30,038
6.500%, 06/01/34		6,450		6,684
6.500%, 04/01/36		9,363		9,669
6.500%, 05/01/36		14,133		14,634
6.500%, 02/01/37		33,274		34,546
6.500%, 05/01/37		5,183		5,313
6.500%, 07/01/37		14,077		14,601
6.500%, 12/01/53		148,191		151,398
Federal National Mortgage Association REMICS
2.000%, 05/25/44		5,445		5,354
2.000%, 04/25/46		51,130		45,828
3.000%, 02/25/33 (d)		59,079		4,812
3.250%, 05/25/40		22,370		20,386
4.000%, 10/25/40		34,032		32,911
4.000%, 07/25/46 (d)		81,174		15,069
5.000%, 03/25/25		1,502		1,487
Government National Mortgage Association
0.584%, 02/16/59 (c) (d)		745,223		25,598
2.000%, 01/20/52		1,117,667		916,013
2.000%, 03/20/52		335,247		274,759
2.500%, 08/20/51		254,504		216,926
2.500%, 09/20/51		1,036,644		883,473
2.500%, 11/20/51		967,109		824,110
3.000%, 04/20/45		76,401		68,700
3.000%, 04/20/46		34,529		30,905
3.000%, 08/20/46		37,798		33,798
3.000%, 09/20/46		86,021		76,905
3.000%, 11/20/47		405,646		362,061
3.000%, 01/20/48		567,754		506,998
3.000%, 02/20/48		33,960		30,296
3.000%, 04/20/48		11,739		10,477
3.000%, 11/20/51		160,982		141,944
3.000%, 06/20/52		783,313		690,610
3.000%, 11/20/52		430,555		379,602
3.500%, 12/15/41		188,616		175,741
3.500%, 02/15/42		31,168		29,023
3.500%, 06/20/43		196,551		182,670
3.500%, 07/20/43		245,702		228,349
3.500%, 11/20/47		33,121		30,475
3.500%, 03/20/48		387,291		356,255
3.500%, 06/20/52		558,316		507,908
3.500%, 09/20/52		121,872		110,869
4.000%, 01/20/41		215,030		206,765
4.000%, 02/20/41		53,707		51,642

BHFTII-227

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association
4.000%, 04/20/41		42,987	$	41,334
4.000%, 02/20/42		55,772		53,627
4.000%, 07/20/52		205,383		192,142
4.000%, 09/20/52		92,514		86,549
4.000%, 10/20/52		564,226		527,848
4.500%, 07/20/33		3,626		3,530
4.500%, 09/15/33		21,078		20,545
4.500%, 09/20/33		2,509		2,476
4.500%, 12/20/34		1,555		1,535
4.500%, 03/20/35		12,091		11,930
4.500%, 11/15/39		43,610		42,884
4.500%, 03/15/40		80,131		78,512
4.500%, 04/15/40		76,641		74,542
4.500%, 06/15/40		26,155		25,431
4.500%, 01/20/41		60,768		59,880
4.500%, 09/20/52		1,429,793		1,374,477
4.500%, 11/20/52		633,365		608,504
4.500%, 12/20/52		683,792		657,267
5.000%, 07/20/33		9,241		9,330
5.000%, 03/15/34		7,834		7,882
5.000%, 06/15/34		19,397		19,515
5.000%, 12/15/34		5,897		5,926
5.000%, 06/15/35		5,416		5,456
5.000%, 01/20/53		47,275		46,470
5.000%, 03/20/53		525,964		517,139
5.000%, 05/20/53		1,408,017		1,383,542
5.000%, 09/20/53		49,460		48,600
5.500%, 11/15/32		33,092		33,748
5.500%, 08/15/33		51,941		52,075
5.500%, 12/15/33		36,933		37,844
5.500%, 09/15/34		21,738		22,249
5.500%, 10/15/35		6,817		6,986
5.500%, 02/20/53		581,520		581,138
5.500%, 04/20/53		425,034		424,754
5.500%, 06/20/53		483,781		483,462
6.000%, 12/15/28		8,409		8,534
6.000%, 12/15/31		4,733		4,817
6.000%, 03/15/32		746		754
6.000%, 10/15/32		47,758		49,393
6.000%, 01/15/33		290		298
6.000%, 02/15/33		881		890
6.000%, 04/15/33		49,533		51,508
6.000%, 08/15/33		378		384
6.000%, 07/15/34		21,060		21,748
6.000%, 09/15/34		15,358		15,654
6.000%, 01/20/35		12,880		13,398
6.000%, 02/20/35		6,375		6,631
6.000%, 04/20/35		11,130		11,577
6.000%, 01/15/38		41,126		42,614
7.000%, 12/20/53		74,999		76,656
Government National Mortgage Association REMICS
4.000%, 07/20/41		43,790		41,597
4.500%, 10/20/33		98,996		96,230
4.500%, 09/20/41		27,804		27,317
5.543%, 1M TSFR + 0.214%, 09/20/41 (c)		263,384		258,540
6.474%, SOFR30A + 1.150%, 03/20/64 (c)		225,000		225,360

Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association, TBA
2.000%, TBA (e)		925,000		758,314
2.500%, TBA (e)		1,100,000		937,766
3.000%, TBA (e)		350,000		308,908
6.000%, TBA (e)		300,000		302,376
6.500%, TBA (e)		300,000		304,709
Seasoned Credit Risk Transfer Trust
3.000%, 02/25/59		213,482		188,071
3.250%, 11/25/61		166,872		143,291
3.500%, 08/25/58		71,292		63,834
3.500%, 10/25/58		162,396		148,786
Uniform Mortgage-Backed Security, TBA
2.000%, TBA (e)		3,875,000		3,068,397
2.500%, TBA (e)		1,225,000		1,013,235
3.500%, TBA (e)		250,000		223,798
4.000%, TBA (e)		1,175,000		1,088,052

				77,271,572


U.S. Treasury—6.3%
U.S. Treasury Bonds
1.750%, 08/15/41		2,600,000		1,754,594
1.875%, 11/15/51		650,000		389,314
2.250%, 02/15/52		2,200,000		1,447,102
2.375%, 02/15/42		1,800,000		1,338,820
2.375%, 11/15/49		11,245,000		7,702,386
2.500%, 02/15/45		68,000		49,722
2.875%, 05/15/43		2,550,000		2,026,154
2.875%, 11/15/46		2,439,000		1,879,459
4.000%, 11/15/42		1,500,000		1,412,930
4.000%, 11/15/52		1,100,000		1,034,215
4.125%, 08/15/53 (b)		1,100,000		1,057,203
4.750%, 11/15/43		1,200,000		1,244,813
U.S. Treasury Notes
2.500%, 03/31/27 (f)		13,100,000		12,403,039
4.000%, 01/15/27		6,000,000		5,928,281

				39,668,032

Total U.S. Treasury & Government Agencies (Cost $132,051,036)				116,939,604


Corporate Bonds & Notes—12.2%

Aerospace/Defense—0.0%
BAE Systems PLC 3.400%, 04/15/30 (144A)		336,000		306,440


Agriculture—0.4%
BAT International Finance PLC 4.448%, 03/16/28 (b)		1,361,000		1,321,597
Philip Morris International, Inc.
5.125%, 11/17/27 (b)		250,000		251,293
5.125%, 02/15/30 (b)		301,000		300,997
5.625%, 11/17/29 (b)		108,000		111,226
5.750%, 11/17/32		476,000		491,430

				2,476,543

BHFTII-228

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Auto Manufacturers— 0.1%
Stellantis Finance U.S., Inc. 2.691%, 09/15/31 (144A) (b)		1,012,000	$	851,499


Auto Parts & Equipment—0.0%
Lear Corp. 4.250%, 05/15/29 (b)		217,000		207,412


Banks—2.5%
Bank of America Corp. 2.572%, SOFR + 1.210%, 10/20/32 (b) (c)		961,000		797,268
Barclays PLC
2.894%, 1Y H15 + 1.300%, 11/24/32 (c)		259,000		215,377
7.437%, 1Y H15 + 3.500%, 11/02/33 (c)		774,000		859,726
Deutsche Bank AG
2.311%, SOFR + 1.219%, 11/16/27 (c)		258,000		235,879
6.720%, SOFR + 3.180%, 01/18/29 (b) (c)		628,000		649,454
7.146%, SOFR + 2.520%, 07/13/27 (c)		239,000		245,623
Goldman Sachs Group, Inc.
2.383%, SOFR + 1.248%, 07/21/32 (c)		891,000		730,938
2.600%, 02/07/30 (b)		667,000		583,837
HSBC Holdings PLC
4.000%, 5Y H15 + 3.222%, 03/09/26 (c)		200,000		185,800
4.700%, 5Y H15 + 3.250%, 03/09/31 (c)		332,000		279,201
JPMorgan Chase & Co.
2.545%, SOFR + 1.180%, 11/08/32 (b) (c)		1,450,000		1,206,555
2.963%, SOFR + 1.260%, 01/25/33 (c)		555,000		473,875
3.897%, 3M TSFR + 1.482%, 01/23/49 (c)		320,000		260,810
Macquarie Group Ltd. 4.442%, SOFR + 2.405%, 06/21/33 (144A) (c)		1,713,000		1,590,322
Mitsubishi UFJ Financial Group, Inc. 2.852%, 1Y H15 + 1.100%, 01/19/33 (b) (c)		920,000		781,200
Morgan Stanley
2.699%, SOFR + 1.143%, 01/22/31 (c)		718,000		627,306
2.943%, SOFR + 1.290%, 01/21/33 (b) (c)		919,000		781,080
Northern Trust Corp. 6.125%, 11/02/32 (b)		761,000		803,863
Sumitomo Mitsui Financial Group, Inc. 2.472%, 01/14/29		1,536,000		1,372,488
UBS Group AG 2.095%, 1Y H15 + 1.000%, 02/11/32 (144A) (c)		1,883,000		1,508,291
Wells Fargo & Co. 3.350%, SOFR + 1.500%, 03/02/33 (b) (c)		1,499,000		1,300,574

				15,489,467


Beverages—0.3%
Anheuser-Busch InBev Worldwide, Inc.
4.375%, 04/15/38		208,000		193,307
8.000%, 11/15/39		868,000		1,097,096
Diageo Capital PLC 2.375%, 10/24/29 (b)		835,000		737,656
Keurig Dr Pepper, Inc. 3.200%, 05/01/30		93,000		83,770

				2,111,829


Building Materials—0.2%
Martin Marietta Materials, Inc. 2.500%, 03/15/30 (b)		56,000		48,830
Masco Corp. 2.000%, 02/15/31 (b)		1,141,000		933,168
Vulcan Materials Co. 3.500%, 06/01/30		115,000		105,402

				1,087,400


Chemicals—0.1%
RPM International, Inc. 2.950%, 01/15/32		443,000		374,937


Commercial Services—0.5%
Ashtead Capital, Inc. 5.500%, 08/11/32 (144A)		1,117,000		1,092,040
ERAC USA Finance LLC 7.000%, 10/15/37 (144A)		215,000		245,181
Experian Finance PLC 4.250%, 02/01/29 (144A)		533,000		515,156
Global Payments, Inc. 2.900%, 11/15/31 (b)		467,000		391,906
Verisk Analytics, Inc.
4.125%, 03/15/29 (b)		570,000		548,368
5.750%, 04/01/33 (b)		413,000		429,319

				3,221,970


Cosmetics/Personal Care—0.1%
Kenvue, Inc. 4.900%, 03/22/33 (b)		846,000		845,285


Diversified Financial Services—1.2%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
2.450%, 10/29/26		1,700,000		1,578,721
3.650%, 07/21/27 (b)		320,000		302,631
Avolon Holdings Funding Ltd.
3.250%, 02/15/27 (144A)		640,000		594,355
4.375%, 05/01/26 (144A)		215,000		207,644
Capital One Financial Corp.
3.273%, SOFR + 1.790%, 03/01/30 (c)		1,373,000		1,236,872
3.750%, 03/09/27 (b)		554,000		531,718
Charles Schwab Corp. 5.853%, SOFR + 2.500%, 05/19/34 (c)		1,045,000		1,070,130
Consumers Securitization Funding LLC 5.550%, 03/01/28		381,000		382,020
Intercontinental Exchange, Inc. 2.100%, 06/15/30 (b)		657,000		558,319
LPL Holdings, Inc. 4.375%, 05/15/31 (144A) (b)		1,120,000		1,019,359

				7,481,769


Electric—1.2%
American Electric Power Co., Inc. 5.950%, 11/01/32		368,000		382,520
Brazos Securitization LLC 5.243%, 03/01/43 (144A)		448,000		453,247

BHFTII-229

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Electric—(Continued)
Duke Energy Carolinas LLC 4.950%, 01/15/33		1,151,000	$	1,144,655
Duke Energy Corp. 4.500%, 08/15/32		875,000		829,461
Electricite de France SA 6.900%, 05/23/53 (144A) (b)		200,000		218,053
Empire District Bondco LLC 4.943%, 01/01/35		348,000		346,545
Enel Finance International NV 6.800%, 10/14/25 (144A) (b)		315,000		321,292
Exelon Corp. 4.050%, 04/15/30 (b)		533,000		502,662
Georgia Power Co. 3.700%, 01/30/50		44,000		33,724
Jersey Central Power & Light Co.
2.750%, 03/01/32 (144A) (b)		275,000		228,500
4.300%, 01/15/26 (144A)		422,000		412,322
Oncor Electric Delivery Co. LLC 5.750%, 03/15/29		646,000		667,965
Pacific Gas & Electric Co.
2.100%, 08/01/27 (b)		145,000		130,553
2.500%, 02/01/31 (b)		466,000		387,516
3.000%, 06/15/28 (b)		418,000		381,802
3.300%, 08/01/40 (b)		283,000		207,193
Virginia Power Fuel Securitization LLC 5.088%, 05/01/29		380,000		374,686
Xcel Energy, Inc. 3.400%, 06/01/30 (b)		297,000		265,385

				7,288,081


Electronics—0.1%
Arrow Electronics, Inc. 2.950%, 02/15/32		749,000		628,689


Entertainment—0.2%
Warnermedia Holdings, Inc.
5.050%, 03/15/42 (b)		848,000		728,850
5.141%, 03/15/52		493,000		409,189

				1,138,039


Environmental Control—0.3%
Republic Services, Inc. 1.450%, 02/15/31 (b)		272,000		216,574
Waste Management, Inc. 4.875%, 02/15/34 (b)		1,645,000		1,633,746

				1,850,320


Gas—0.1%
APA Infrastructure Ltd. 4.250%, 07/15/27 (144A) (b)		84,000		82,268
East Ohio Gas Co. 2.000%, 06/15/30 (144A)		365,000		299,764
NiSource, Inc. 5.650%, 02/01/45		136,000		134,732

				516,764


Healthcare-Products—0.1%
Alcon Finance Corp. 2.600%, 05/27/30 (144A) (b)		200,000		172,678
Boston Scientific Corp. 2.650%, 06/01/30		470,000		413,951

				586,629


Healthcare-Services—0.3%
Adventist Health System 5.430%, 03/01/32 (b)		731,000		737,843
HCA, Inc. 5.125%, 06/15/39 (b)		522,000		492,645
Humana, Inc. 5.875%, 03/01/33 (b)		395,000		407,617
Laboratory Corp. of America Holdings 4.700%, 02/01/45 (b)		152,000		137,290
Northwell Healthcare, Inc.
3.979%, 11/01/46 (b)		51,000		41,071
4.260%, 11/01/47 (b)		407,000		337,273

				2,153,739


Insurance—0.7%
AIA Group Ltd. 3.375%, 04/07/30 (144A)		804,000		737,091
Aon Corp.
3.750%, 05/02/29		140,000		132,252
4.500%, 12/15/28		564,000		552,510
Brown & Brown, Inc. 4.200%, 03/17/32 (b)		618,000		570,524
Corebridge Financial, Inc.
3.900%, 04/05/32 (b)		955,000		858,949
5.750%, 01/15/34 (b)		351,000		358,086
Fairfax Financial Holdings Ltd. 5.625%, 08/16/32		870,000		869,122
Liberty Mutual Group, Inc. 3.951%, 10/15/50 (144A)		331,000		248,893

				4,327,427


Internet—0.1%
Booking Holdings, Inc. 4.625%, 04/13/30 (b)		424,000		418,765


Lodging—0.2%
Las Vegas Sands Corp. 3.900%, 08/08/29 (b)		257,000		233,899
Marriott International, Inc.
2.750%, 10/15/33 (b)		475,000		386,042
2.850%, 04/15/31		2,000		1,725
4.625%, 06/15/30 (b)		582,000		566,225

				1,187,891


Machinery-Diversified—0.1%
Westinghouse Air Brake Technologies Corp. 3.200%, 06/15/25		248,000		240,854
4.700%, 09/15/28		660,000		649,176

				890,030

BHFTII-230

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Media—0.3%
Charter Communications Operating LLC/Charter Communications Operating Capital
3.500%, 06/01/41		628,000	$	421,687
5.250%, 04/01/53 (b)		505,000		399,942
5.375%, 05/01/47		132,000		106,361
6.384%, 10/23/35 (b)		310,000		306,366
Cox Communications, Inc. 1.800%, 10/01/30 (144A) (b)		404,000		324,123
Time Warner Cable Enterprises LLC 8.375%, 07/15/33 (b)		592,000		660,724

				2,219,203


Mining—0.4%
Anglo American Capital PLC
2.625%, 09/10/30 (144A) (b)		1,340,000		1,140,715
3.875%, 03/16/29 (144A) (b)		200,000		187,107
5.625%, 04/01/30 (144A) (b)		524,000		530,986
Glencore Funding LLC
2.500%, 09/01/30 (144A)		502,000		426,146
2.850%, 04/27/31 (144A) (b)		208,000		177,727

				2,462,681


Oil & Gas—0.6%
BP Capital Markets America, Inc. 2.721%, 01/12/32 (b)		1,226,000		1,056,366
Eni SpA 4.750%, 09/12/28 (144A)		1,046,000		1,037,832
Phillips 66 2.150%, 12/15/30 (b)		904,000		758,367
Valero Energy Corp. 6.625%, 06/15/37		596,000		649,722

				3,502,287


Pharmaceuticals—0.1%
Cigna Group 3.200%, 03/15/40		148,000		112,033
CVS Health Corp. 5.300%, 06/01/33 (b)		719,000		720,690

				832,723


Pipelines—0.3%
Plains All American Pipeline LP/PAA Finance Corp. 3.800%, 09/15/30 (b)		538,000		492,977
Sabine Pass Liquefaction LLC 4.500%, 05/15/30 (b)		147,000		141,371
Spectra Energy Partners LP 3.375%, 10/15/26 (b)		236,000		225,916
Targa Resources Corp.
4.200%, 02/01/33		217,000		197,838
6.125%, 03/15/33		647,000		674,997

				1,733,099


Real Estate Investment Trusts—0.8%
Boston Properties LP 2.550%, 04/01/32		389,000		307,721
Brixmor Operating Partnership LP 4.050%, 07/01/30 (b)		512,000		474,889
4.125%, 05/15/29		51,000		48,068
Crown Castle, Inc. 3.650%, 09/01/27		843,000		799,110
Equinix, Inc.
1.800%, 07/15/27 (b)		517,000		463,458
2.500%, 05/15/31 (b)		618,000		515,507
2.625%, 11/18/24		800,000		783,886
GLP Capital LP/GLP Financing II, Inc. 5.300%, 01/15/29 (b)		513,000		504,425
Public Storage Operating Co. 5.100%, 08/01/33		1,221,000		1,226,298
Realty Income Corp. 3.250%, 01/15/31		153,000		136,489

				5,259,851


Retail—0.2%
Alimentation Couche-Tard, Inc. 3.439%, 05/13/41 (144A)		619,000		475,391
Genuine Parts Co. 2.750%, 02/01/32 (b)		1,005,000		835,665

				1,311,056


Semiconductors—0.1%
Broadcom, Inc.
4.300%, 11/15/32		395,000		371,145
4.926%, 05/15/37 (144A)		208,000		197,406

				568,551


Software—0.1%
Fiserv, Inc. 2.650%, 06/01/30		198,000		172,393
Oracle Corp. 4.900%, 02/06/33 (b)		213,000		208,537
Roper Technologies, Inc. 2.000%, 06/30/30 (b)		422,000		352,220

				733,150


Telecommunications—0.5%
Rogers Communications, Inc. 3.800%, 03/15/32 (b)		1,514,000		1,360,629
T-Mobile USA, Inc. 2.050%, 02/15/28 (b)		557,000		499,077
Verizon Communications, Inc. 3.150%, 03/22/30 (b)		310,000		280,279
4.812%, 03/15/39 (b)		573,000		541,030
Vodafone Group PLC 5.625%, 02/10/53 (b)		214,000		212,681

				2,893,696

Total Corporate Bonds & Notes (Cost $83,900,001)				76,957,222

BHFTII-231

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Asset-Backed Securities—4.6%


Security Description	Principal Amount*		Value

Asset-Backed - Automobile—0.4%
ARI Fleet Lease Trust 6.050%, 07/15/32 (144A)		135,447	$	136,319
Chesapeake Funding II LLC 5.650%, 05/15/35 (144A)		526,457		527,020
Credit Acceptance Auto Loan Trust 1.380%, 07/15/30 (144A)		328,000		322,030
6.390%, 08/15/33 (144A)		155,000		157,187
Enterprise Fleet Financing LLC 6.400%, 03/20/30 (144A)		376,000		381,751
GLS Auto Select Receivables Trust 6.270%, 08/16/27 (144A)		419,228		420,903
6.370%, 06/15/28 (144A)		102,877		103,610
Nissan Master Owner Trust Receivables 5.990%, SOFR30A + 0.670%, 02/15/28 (144A) (c)		408,876		409,203
Toyota Lease Owner Trust 5.300%, 08/20/25 (144A)		86,710		86,605

				2,544,628


Asset-Backed - Home Equity—0.0%
Bayview Financial Revolving Asset Trust 7.045%, 1M TSFR + 1.714%, 12/28/40 (144A) (c)		114,153		180,641
GMACM Home Equity Loan Trust 5.805%, 10/25/36 (c)		23,899		23,601
Home Equity Loan Trust 3.812%, 12/25/35 (c)		20,344		549

				204,791


Asset-Backed - Other—4.2%
ACRES Commercial Realty Ltd. 7.190%, 1M TSFR + 1.864%, 01/15/37 (144A) (c)		535,500		527,073
Arbor Realty Commercial Real Estate Notes Ltd. 6.640%, 1M TSFR + 1.314%, 12/15/35 (144A) (c)		625,000		615,856
7.040%, 1M TSFR + 1.714%, 08/15/34 (144A) (c)		522,000		504,982
7.419%, SOFR30A + 2.100%, 01/15/37 (144A) (c)		1,466,500		1,452,453
BSPRT Issuer Ltd. 6.740%, 1M TSFR + 1.414%, 03/15/36 (144A) (c)		1,463,000		1,417,233
7.369%, SOFR30A + 2.050%, 02/15/37 (144A) (c)		524,000		511,516
7.490%, 1M TSFR + 2.164%, 12/15/38 (144A) (c)		245,000		240,295
Business Jet Securities LLC 2.162%, 04/15/36 (144A)		201,031		188,083
CHCP Ltd. 6.741%, 1M TSFR + 1.414%, 02/15/38 (144A) (c)		650,500		644,594
Columbia Cent CLO 28 Ltd. 7.278%, 3M TSFR + 1.962%, 11/07/30 (144A) (c)		1,026,773		1,027,504
Cutwater Ltd. 6.796%, 3M TSFR + 1.482%, 01/15/29 (144A) (c)		75,268		75,256
Dryden 55 CLO Ltd. 6.596%, 3M TSFR + 1.282%, 04/15/31 (144A) (c)		1,339,032		1,340,686
Dryden XXVI Senior Loan Fund 6.476%, 3M TSFR + 1.162%, 04/15/29 (144A) (c)		452,429		452,354
Kubota Credit Owner Trust 5.610%, 07/15/26 (144A)		435,613		435,650
LCCM Trust 7.340%, 1M TSFR + 2.014%, 12/13/38 (144A) (c)		682,500		651,879

Asset-Backed - Other—(Continued)
LoanCore Issuer Ltd. 7.190%, 1M TSFR + 1.864%, 07/15/36 (144A) (c)		1,547,500		1,528,546
7.340%, 1M TSFR + 2.014%, 11/15/38 (144A) (c)		3,913,500		3,798,083
MF1 Ltd. 7.140%, 1M TSFR + 1.814%, 11/15/35 (144A) (c)		223,465		223,605
7.276%, 1M TSFR + 1.950%, 02/19/37 (144A) (c)		650,507		637,079
MidOcean Credit CLO II 7.231%, 3M TSFR + 1.912%, 01/29/30 (144A) (c)		1,156,232		1,153,045
Neuberger Berman CLO XV 6.926%, 3M TSFR + 1.612%, 10/15/29 (144A) (c)		508,944		508,944
Neuberger Berman CLO XX Ltd. 6.736%, 3M TSFR + 1.422%, 07/15/34 (144A) (c)		600,000		600,368
Oaktree CLO Ltd. 7.329%, 3M TSFR + 2.012%, 04/22/30 (144A) (c)		1,503,087		1,496,779
OCP CLO Ltd. 7.236%, 3M TSFR + 1.912%, 01/26/34 (144A) (c)		4,041,128		4,040,906
OneMain Financial Issuance Trust 5.940%, 05/15/34 (144A)		427,000		429,317
Starwood Ltd. 7.119%, SOFR30A + 1.800%, 11/15/38 (144A) (c)		1,507,000		1,435,515
U.S. Small Business Administration 4.770%, 04/01/24		272		272
4.950%, 03/01/25		3,428		3,416
4.990%, 09/01/24		751		746
5.110%, 08/01/25		5,343		5,287
5.180%, 05/01/24		353		353
5.520%, 06/01/24		811		810
Voya Ltd. 7.026%, 3M TSFR + 1.712%, 10/15/30 (144A) (c)		584,168		580,506

				26,528,991

Total Asset-Backed Securities (Cost $29,611,916)				29,278,410


Mortgage-Backed Securities—1.7%

Commercial Mortgage-Backed Securities—1.7%
AREIT Trust 6.740%, 1M TSFR + 1.414%, 09/14/36 (144A) (c)		1,005,247		991,249
7.169%, SOFR30A + 1.850%, 01/20/37 (144A) (c)		892,000		866,976
BANK 5.745%, 08/15/56		533,187		558,714
Benchmark Mortgage Trust 6.363%, 07/15/56 (c)		38,197		39,921
BXMT Ltd. 6.740%, 1M TSFR + 1.414%, 05/15/38 (144A) (c)		1,532,500		1,420,642
COMM Mortgage Trust 3.708%, 07/10/48		1,300,833		1,267,821
CSAIL Commercial Mortgage Trust 3.504%, 06/15/57		738,578		720,234
JPMBB Commercial Mortgage Securities Trust 3.494%, 01/15/48		1,590,000		1,560,801
Morgan Stanley Bank of America Merrill Lynch Trust 3.536%, 11/15/52		519,442		483,738
MSWF Commercial Mortgage Trust 6.014%, 12/15/56 (c)		591,406		632,685

BHFTII-232

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mortgage-Backed Securities—(Continued)


Security Description	Shares/ Principal Amount*		Value

Commercial Mortgage-Backed Securities—(Continued)
Ready Capital Mortgage Financing LLC
6.444%, 1M TSFR + 1.114%, 04/25/38 (144A) † (c)		178,722	$	178,219
7.244%, 1M TSFR + 1.914%, 11/25/36 (144A) † (c)		320,000		309,027
Wells Fargo Commercial Mortgage Trust 3.540%, 05/15/48		1,706,327		1,661,092

Total Mortgage-Backed Securities (Cost $11,145,787)				10,691,119


Preferred Stocks—0.8%

Household Products—0.5%
Henkel AG & Co. KGaA		39,361		3,163,339


Technology Hardware, Storage & Peripherals—0.3%
Samsung Electronics Co. Ltd.		32,260		1,610,816

Total Preferred Stocks (Cost $4,705,332)				4,774,155


Municipals—0.4%
New Jersey Turnpike Authority 7.414%, 01/01/40		1,050,000		1,252,171
Rhode Island Student Loan Authority 6.081%, 12/01/42		775,000		776,664
State Board of Administration Finance Corp. 2.154%, 07/01/30		314,000		268,215

Total Municipals (Cost $2,171,113)				2,297,050


Short-Term Investments—2.2%

Discount Note—2.2%
Federal Home Loan Bank
Zero Coupon, 04/01/24 (g)		13,792,000		13,784,062


Repurchase Agreement—0.0%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $250,198; collateralized by U.S. Treasury Note at 0.625%, maturing 01/15/26, with a market value of $255,163.		250,128		250,128

Total Short-Term Investments (Cost $14,042,128)				14,034,190


Securities Lending Reinvestments(h)—2.7%

Repurchase Agreements—1.1%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $500,227; collateralized by various Common Stock with an aggregate market value of $556,911.		500,000		500,000

Repurchase Agreements—(Continued)
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $1,654,840; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $1,687,192.		1,654,110		1,654,110
National Bank of Canada Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $2,002,119; collateralized by various Common Stock with an aggregate market value of $2,228,277.		2,000,000		2,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $500,228; collateralized by various Common Stock with an aggregate market value of $557,756.		500,000		500,000
Societe Generale Repurchase Agreement dated 03/29/24 at 5.440%, due on 04/01/24 with a maturity value of $100,045; collateralized by various Common Stock with an aggregate market value of $111,458.		100,000		100,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $2,501,129; collateralized by various Common Stock with an aggregate market value of $2,750,414.		2,500,000		2,500,000

				7,254,110


Mutual Funds—1.6%
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (i)		2,000,000		2,000,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (i)		3,000,000		3,000,000
RBC BlueBay U.S. Government Money Market Fund, Institutional Share 5.260% (i)		1,000,000		1,000,000
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.260% (i)		1,000,000		1,000,000
Western Asset Institutional Government Reserves Fund, Institutional Class 5.220% (i)		3,000,000		3,000,000

				10,000,000

Total Securities Lending Reinvestments (Cost $17,254,110)				17,254,110

Total Investments - 103.7% (Cost $564,759,111)				654,996,386
Other assets and liabilities (net) - (3.7)%				(23,109,321	)

Net Assets — 100.0%			$	631,887,065

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

†	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt

BHFTII-233

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2024, the market value of restricted securities was $487,246, which is 0.1% of net assets. See details shown in the Restricted Securities table that follows.

(a)	Non-income producing security.

(b)

All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $44,966,593 and the collateral received consisted of cash in the amount of $17,254,110 and non-cash collateral with a value of $28,831,443. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.

(c)

Variable or floating rate security. The stated rate represents the rate at March 31, 2024. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset-and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

(d)	Interest only security.

(e)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.

(f)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2024, the market value of securities pledged was $404,282.

(g)	The rate shown represents current yield to maturity.

(h)	Represents investment of cash collateral received from securities on loan as of March 31, 2024.

(i)	The rate shown represents the annualized seven-day yield as of March 31, 2024.

(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 March 31, 2024, the market value of 144A securities was $48,611,317, which is 7.7% of net assets.


Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
Ready Capital Mortgage Financing LLC, 6.444%, 04/25/38		03/19/21	$	178,722	$	178,722	$	178,219
Ready Capital Mortgage Financing LLC, 7.244%, 11/25/36		11/12/21		320,000		320,000		309,027

							$	487,246


Futures Contracts
Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
U.S. Treasury Note 2 Year Futures		06/28/24		61			USD	12,473,547		$	(6,156	)
U.S. Treasury Note 5 Year Futures		06/28/24		102			USD	10,915,594			27,607
U.S. Treasury Ultra Long Bond Futures		06/18/24		49			USD	6,321,000			90,539

Futures Contracts—Short
U.S. Treasury Note Ultra 10 Year Futures		06/18/24		(67	)		USD	(7,678,828	)		(66,756	)

Net Unrealized Appreciation										$	45,234

Glossary of Abbreviations

Currencies


(USD)—		United States Dollar

Index Abbreviations


(H15)—		U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(SOFR)—		Secured Overnight Financing Rate
(SOFR30A)—		Secured Overnight Financing Rate 30-Day Average
(TSFR)—		Term Secured Overnight Financing Rate

Other Abbreviations


(ADR)—		American Depositary Receipt
(CLO)—		Collateralized Loan Obligation
(DAC)—		Designated Activity Company
(REMIC)—		Real Estate Mortgage Investment Conduit

BHFTII-234

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

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 following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	8,151,359	$	—	$	—	$	8,151,359
Automobile Components		7,641,594		—		—		7,641,594
Banks		32,208,411		—		—		32,208,411
Beverages		5,404,221		—		—		5,404,221
Building Products		19,508,113		—		—		19,508,113
Capital Markets		44,924,795		—		—		44,924,795
Chemicals		12,581,801		—		—		12,581,801
Construction Materials		1,395,754		—		—		1,395,754
Consumer Staples Distribution & Retail		1,640,256		—		—		1,640,256
Distributors		4,335,664		—		—		4,335,664
Electric Utilities		15,173,791		—		—		15,173,791
Electrical Equipment		16,601,663		—		—		16,601,663
Entertainment		2,596,753		—		—		2,596,753
Financial Services		7,152,050		—		—		7,152,050
Food Products		1,447,519		—		—		1,447,519
Ground Transportation		6,832,427		—		—		6,832,427
Health Care Equipment & Supplies		10,992,164		—		—		10,992,164
Health Care Providers & Services		18,064,413		—		—		18,064,413
Hotels, Restaurants & Leisure		2,876,001		—		—		2,876,001
Industrial Conglomerates		3,695,321		—		—		3,695,321
Insurance		23,131,928		—		—		23,131,928
Interactive Media & Services		5,581,391		—		—		5,581,391
IT Services		8,114,131		—		—		8,114,131
Life Sciences Tools & Services		3,645,058		—		—		3,645,058
Machinery		4,759,301		—		—		4,759,301
Media		15,374,627		—		—		15,374,627
Metals & Mining		—		1,312,827		—		1,312,827
Multi-Utilities		785,958		1,916,083		—		2,702,041
Oil, Gas & Consumable Fuels		24,200,042		—		—		24,200,042
Personal Care Products		4,267,643		—		—		4,267,643
Pharmaceuticals		14,437,769		2,815,448		—		17,253,217
Professional Services		2,954,762		—		—		2,954,762
Semiconductors & Semiconductor Equipment		19,726,810		—		—		19,726,810
Software		14,018,420		—		—		14,018,420
Tobacco		7,338,835		—		—		7,338,835
Wireless Telecommunication Services		5,165,423		—		—		5,165,423
Total Common Stocks		376,726,168		6,044,358		—		382,770,526
Total U.S. Treasury & Government Agencies*		—		116,939,604		—		116,939,604
Total Corporate Bonds & Notes*		—		76,957,222		—		76,957,222
Total Asset-Backed Securities*		—		29,278,410		—		29,278,410

BHFTII-235

Brighthouse Funds Trust II

MFS Total Return Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy—(Continued)


Description	Level 1			Level 2			Level 3		Total
Total Mortgage-Backed Securities*	$	—		$	10,691,119		$	—	$	10,691,119
Total Preferred Stocks*		—			4,774,155			—		4,774,155
Total Municipals*		—			2,297,050			—		2,297,050
Total Short-Term Investments*		—			14,034,190			—		14,034,190
Securities Lending Reinvestments
Repurchase Agreements		—			7,254,110			—		7,254,110
Mutual Funds		10,000,000			—			—		10,000,000
Total Securities Lending Reinvestments		10,000,000			7,254,110			—		17,254,110
Total Investments	$	386,726,168		$	268,270,218		$	—	$	654,996,386

Collateral for Securities Loaned (Liability)	$	—		$	(17,254,110	)	$	—	$	(17,254,110	)
Futures Contracts Futures Contracts (Unrealized Appreciation)	$	118,146		$	—		$	—	$	118,146
Futures Contracts (Unrealized Depreciation)		(72,912	)		—			—		(72,912	)
Total Futures Contracts	$	45,234		$	—		$	—	$	45,234


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-236

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—99.6% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—7.2%
Boeing Co. (a)		235,842	$	45,515,147
General Dynamics Corp.		197,086		55,674,824
Northrop Grumman Corp.		119,968		57,423,883
RTX Corp.		510,858		49,823,981

				208,437,835


Banks—7.4%
Citigroup, Inc.		682,643		43,170,343
JPMorgan Chase & Co.		707,019		141,615,906
PNC Financial Services Group, Inc.		195,381		31,573,570

				216,359,819


Beverages—2.6%
Diageo PLC		964,000		35,601,114
PepsiCo, Inc.		222,884		39,006,929

				74,608,043


Biotechnology—1.3%
AbbVie, Inc.		214,431		39,047,885


Building Products—1.5%
Johnson Controls International PLC		307,415		20,080,348
Trane Technologies PLC		79,712		23,929,542

				44,009,890


Capital Markets—5.5%
BlackRock, Inc.		38,495		32,093,281
KKR & Co., Inc.		292,501		29,419,751
Morgan Stanley		570,535		53,721,576
Nasdaq, Inc.		690,091		43,544,742

				158,779,350


Chemicals—3.1%
Corteva, Inc.		284,846		16,427,069
DuPont de Nemours, Inc.		507,684		38,924,132
PPG Industries, Inc.		137,082		19,863,182
Sherwin-Williams Co.		39,401		13,685,149

				88,899,532


Commercial Services & Supplies—0.1%
Veralto Corp.		16,868		1,495,517


Consumer Finance—2.0%
American Express Co.		254,217		57,882,669


Consumer Staples Distribution & Retail—1.6%
Target Corp. (b)		257,076		45,556,438


Electric Utilities—5.8%
American Electric Power Co., Inc. (b)		135,844		11,696,168
Duke Energy Corp.		502,591		48,605,576
Exelon Corp.		547,423		20,566,682
PG&E Corp. (b)		1,163,846		19,506,059
Southern Co.		688,152		49,368,024

Electric Utilities—(Continued)
Xcel Energy, Inc.		330,365		17,757,119

				167,499,628


Electrical Equipment—1.5%
Eaton Corp. PLC		137,582		43,019,140


Food Products—2.0%
Mondelez International, Inc. - Class A		298,463		20,892,410
Nestle SA		357,911		38,003,139

				58,895,549


Ground Transportation—2.6%
Canadian National Railway Co. (b)		128,273		16,894,837
Union Pacific Corp.		236,971		58,278,278

				75,173,115


Health Care Equipment & Supplies—1.8%
Abbott Laboratories		256,421		29,144,811
Boston Scientific Corp. (a)		191,143		13,091,384
Medtronic PLC		101,517		8,847,206

				51,083,401


Health Care Providers & Services—6.6%
Cigna Group		258,125		93,748,419
Elevance Health, Inc.		53,641		27,815,004
McKesson Corp.		131,537		70,615,638

				192,179,061


Hotels, Restaurants & Leisure—1.3%
Marriott International, Inc. - Class A		155,016		39,112,087


Household Products—1.3%
Kimberly-Clark Corp.		158,723		20,530,820
Reckitt Benckiser Group PLC		286,353		16,290,328

				36,821,148


Industrial Conglomerates—1.6%
Honeywell International, Inc.		230,066		47,221,047


Industrial REITs—1.7%
Prologis, Inc.		379,398		49,405,208


Insurance—11.7%
Aon PLC - Class A		200,892		67,041,678
Chubb Ltd.		205,936		53,364,196
Marsh & McLennan Cos., Inc.		329,911		67,955,068
Progressive Corp.		480,305		99,336,680
Travelers Cos., Inc.		232,045		53,402,836

				341,100,458


IT Services—1.9%
Accenture PLC - Class A		161,058		55,824,313

BHFTII-237

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares/ Principal Amount*		Value

Machinery—2.2%
Illinois Tool Works, Inc.		117,401	$	31,502,210
Otis Worldwide Corp.		100,287		9,955,491
PACCAR, Inc.		186,644		23,123,325

				64,581,026


Media—2.3%
Comcast Corp. - Class A		1,559,403		67,600,120


Multi-Utilities—1.3%
Dominion Energy, Inc. (b)		789,826		38,851,541


Oil, Gas & Consumable Fuels—6.1%
Chevron Corp. (b)		167,260		26,383,593
ConocoPhillips		631,483		80,375,156
EOG Resources, Inc.		199,237		25,470,458
Pioneer Natural Resources Co.		177,872		46,691,400

				178,920,607


Personal Care Products—1.0%
Kenvue, Inc.		1,427,969		30,644,215


Pharmaceuticals—5.3%
Johnson & Johnson		383,215		60,620,781
Merck & Co., Inc. (b)		326,214		43,043,937
Pfizer, Inc.		1,515,946		42,067,501
Roche Holding AG		28,709		7,328,743

				153,060,962


Professional Services—0.8%
Equifax, Inc.		90,858		24,306,332


Semiconductors & Semiconductor Equipment—6.0%
Analog Devices, Inc.		274,237		54,241,336
KLA Corp.		62,682		43,787,765
NXP Semiconductors NV		141,723		35,114,708
Texas Instruments, Inc.		237,151		41,314,075

				174,457,884


Specialized REITs—0.3%
Public Storage		33,155		9,616,939


Specialty Retail—2.2%
Lowe’s Cos., Inc.		253,093		64,470,380

Total Common Stocks (Cost $1,962,959,039)				2,898,921,139


Short-Term Investments—0.4%

Discount Note—0.4%
Federal Home Loan Bank Zero Coupon, 04/01/24 (c)		10,673,000		10,666,857


Repurchase Agreement—0.0%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $208; collateralized by U.S. Treasury Note at 5.000%, maturing 09/30/25, with a market value of $308.		208	$	208

Total Short-Term Investments (Cost $10,673,208)				10,667,065


Securities Lending Reinvestments (d)—3.0%

Certificates of Deposit—0.1%
Nordea Bank Abp 5.450%, SOFR + 0.120%, 07/15/24 (e)		1,000,000		999,936
Oversea-Chinese Banking Corp. Ltd. 5.450%, SOFR + 0.120%, 07/19/24 (e)		1,000,000		999,970

				1,999,906


Commercial Paper—0.1%
Ciesco LLC 5.340%, 04/01/24		2,000,000		1,998,792


Repurchase Agreements—1.6%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $1,900,863; collateralized by various Common Stock with an aggregate market value of $2,116,262.		1,900,000		1,900,000
Barclays Bank PLC
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $2,000,903; collateralized by various Common Stock with an aggregate market value of $2,228,579.		2,000,000		2,000,000
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $750,341; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $767,508.		750,000		750,000
BofA Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.320%, due on 04/01/24 with a maturity value of $12,028,240; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 4.750%, maturity dates ranging from 06/30/24 - 11/15/43, and an aggregate market value of $12,263,369.		12,022,910		12,022,910
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/24 at 5.870%, due on 09/30/24 with a maturity value of $4,120,661; collateralized by various Common Stock with an aggregate market value of $4,400,001.		4,000,000		4,000,000

BHFTII-238

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)


Security Description	Shares/ Principal Amount*		Value

Repurchase Agreements—(Continued)
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $19,095,326; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $19,468,634.		19,086,896	$	19,086,896
National Bank of Canada Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $2,002,119; collateralized by various Common Stock with an aggregate market value of $2,228,277.		2,000,000		2,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $2,000,913; collateralized by various Common Stock with an aggregate market value of $2,231,025.		2,000,000		2,000,000
Royal Bank of Canada Toronto Repurchase Agreement dated 03/29/24 at 5.590%, due on 05/03/24 with a maturity value of $1,005,435; collateralized by various Common Stock with an aggregate market value of $1,111,284.		1,000,000		1,000,000
Societe Generale Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $900,407; collateralized by various Common Stock with an aggregate market value of $1,001,815.		900,000		900,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $1,000,452; collateralized by various Common Stock with an aggregate market value of $1,100,166.		1,000,000		1,000,000

				46,659,806


Time Deposits—0.3%
Banco Santander SA (NY) 5.310%, 04/01/24		3,000,000		3,000,000
Credit Agricole Corporate & Investment Bank (NY) 5.300%, 04/01/24		2,000,000		2,000,000
DNB Bank ASA 5.280%, 04/01/24		2,000,000		2,000,000
DZ Bank AG (NY) 5.290%, 04/01/24		2,000,000		2,000,000

				9,000,000


Mutual Funds—0.9%
BlackRock Liquidity Funds FedFund, Institutional Shares 5.200% (f)		1,000,000		1,000,000
Dreyfus Treasury Obligations Cash Management Fund, Institutional Class 5.200% (f)		10,000,000		10,000,000
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (f)		2,000,000		2,000,000

Mutual Funds—(Continued)
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (f)		3,000,000		3,000,000
HSBC U.S. Government Money Market Fund, Class I 5.240% (f)		1,100,000		1,100,000
STIT-Government & Agency Portfolio, Institutional Class 5.230% (f)		10,000,000		10,000,000

				27,100,000

Total Securities Lending Reinvestments (Cost $86,759,806)				86,758,504

Total Investments—103.0% (Cost $2,060,392,053)				2,996,346,708
Other assets and liabilities (net)—(3.0)%				(86,904,305	)

Net Assets—100.0%			$	2,909,442,403


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.
(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $93,615,364 and the collateral received consisted of cash in the amount of $86,758,620 and non-cash collateral with a value of $8,043,975. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)		The rate shown represents current yield to maturity.
(d)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(e)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. 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.
(f)		The rate shown represents the annualized seven-day yield as of March 31, 2024.

Glossary of Abbreviations

Index Abbreviations


(SOFR)—		Secured Overnight Financing Rate

Other Abbreviations


(REIT)—		Real Estate Investment Trust

BHFTII-239

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	208,437,835	$	—	$	—	$	208,437,835
Banks		216,359,819		—		—		216,359,819
Beverages		39,006,929		35,601,114		—		74,608,043
Biotechnology		39,047,885		—		—		39,047,885
Building Products		44,009,890		—		—		44,009,890
Capital Markets		158,779,350		—		—		158,779,350
Chemicals		88,899,532		—		—		88,899,532
Commercial Services & Supplies		1,495,517		—		—		1,495,517
Consumer Finance		57,882,669		—		—		57,882,669
Consumer Staples Distribution & Retail		45,556,438		—		—		45,556,438
Electric Utilities		167,499,628		—		—		167,499,628
Electrical Equipment		43,019,140		—		—		43,019,140
Food Products		20,892,410		38,003,139		—		58,895,549
Ground Transportation		75,173,115		—		—		75,173,115
Health Care Equipment & Supplies		51,083,401		—		—		51,083,401
Health Care Providers & Services		192,179,061		—		—		192,179,061
Hotels, Restaurants & Leisure		39,112,087		—		—		39,112,087
Household Products		20,530,820		16,290,328		—		36,821,148
Industrial Conglomerates		47,221,047		—		—		47,221,047
Industrial REITs		49,405,208		—		—		49,405,208
Insurance		341,100,458		—		—		341,100,458
IT Services		55,824,313		—		—		55,824,313
Machinery		64,581,026		—		—		64,581,026
Media		67,600,120		—		—		67,600,120
Multi-Utilities		38,851,541		—		—		38,851,541
Oil, Gas & Consumable Fuels		178,920,607		—		—		178,920,607
Personal Care Products		30,644,215		—		—		30,644,215
Pharmaceuticals		145,732,219		7,328,743		—		153,060,962
Professional Services		24,306,332		—		—		24,306,332
Semiconductors & Semiconductor Equipment		174,457,884		—		—		174,457,884
Specialized REITs		9,616,939		—		—		9,616,939
Specialty Retail		64,470,380		—		—		64,470,380
Total Common Stocks		2,801,697,815		97,223,324		—		2,898,921,139
Total Short-Term Investments*		—		10,667,065		—		10,667,065

BHFTII-240

Brighthouse Funds Trust II

MFS Value Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy—(Continued)


Description	Level 1		Level 2			Level 3		Total
Securities Lending Reinvestments
Certificates of Deposit	$	—	$	1,999,906		$	—	$	1,999,906
Commercial Paper		—		1,998,792			—		1,998,792
Repurchase Agreements		—		46,659,806			—		46,659,806
Time Deposits		—		9,000,000			—		9,000,000
Mutual Funds		27,100,000		—			—		27,100,000
Total Securities Lending Reinvestments		27,100,000		59,658,504			—		86,758,504
Total Investments	$	2,828,797,815	$	167,548,893		$	—	$	2,996,346,708

Collateral for Securities Loaned (Liability)	$	—	$	(86,758,620	)	$	—	$	(86,758,620	)


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-241

Brighthouse Funds Trust II

Neuberger Berman Genesis Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—99.2% of Net Assets


Security Description	Shares		Value

Automobile Components—1.0%
Fox Factory Holding Corp. (a)		124,489	$	6,482,142
LCI Industries		23,771		2,925,259

				9,407,401


Banks—6.1%
Bank of Hawaii Corp.		81,674		5,095,641
Community Bank System, Inc.		175,282		8,418,794
Cullen/Frost Bankers, Inc.		82,673		9,306,499
First Financial Bankshares, Inc.		205,719		6,749,640
Glacier Bancorp, Inc.		179,436		7,227,682
Lakeland Financial Corp.		68,718		4,557,378
Prosperity Bancshares, Inc.		116,129		7,638,966
Stock Yards Bancorp, Inc.		78,702		3,849,315
United Community Banks, Inc.		228,790		6,021,753

				58,865,668


Building Products—2.4%
Armstrong World Industries, Inc.		8,443		1,048,790
CSW Industrials, Inc.		65,535		15,374,511
Hayward Holdings, Inc. (a)		446,126		6,830,189

				23,253,490


Capital Markets—1.5%
Hamilton Lane, Inc. - Class A		41,030		4,626,543
Houlihan Lokey, Inc.		58,938		7,555,262
MarketAxess Holdings, Inc.		8,977		1,968,207

				14,150,012


Chemicals—1.3%
Element Solutions, Inc.		324,054		8,094,869
Quaker Chemical Corp.		22,504		4,618,946

				12,713,815


Commercial Services & Supplies—2.8%
Casella Waste Systems, Inc. - Class A (a)		39,215		3,877,187
Rollins, Inc.		165,583		7,661,526
Tetra Tech, Inc.		82,837		15,300,822

				26,839,535


Construction & Engineering—2.3%
Arcosa, Inc.		102,384		8,790,690
Valmont Industries, Inc.		59,014		13,471,716

				22,262,406


Construction Materials—2.3%
Eagle Materials, Inc.		79,844		21,697,607


Consumer Staples Distribution & Retail—0.4%
Grocery Outlet Holding Corp. (a)		123,774		3,562,216


Containers & Packaging—1.0%
AptarGroup, Inc.		68,857		9,907,834


Distributors—1.9%
Pool Corp.		44,155		17,816,543


Diversified Consumer Services—0.6%
Bright Horizons Family Solutions, Inc. (a)		54,240		6,148,646


Electronic Equipment, Instruments & Components—3.5%
Advanced Energy Industries, Inc.		54,811		5,589,626
Littelfuse, Inc.		61,107		14,809,281
Novanta, Inc. (a)		53,631		9,373,090
Rogers Corp. (a)		33,162		3,935,998

				33,707,995


Energy Equipment & Services—3.1%
Cactus, Inc. - Class A		107,415		5,380,417
Oceaneering International, Inc. (a)		293,506		6,868,041
Tidewater, Inc. (a)		148,953		13,703,676
Transocean Ltd. (a)		672,003		4,220,179

				30,172,313


Financial Services—1.2%
Jack Henry & Associates, Inc.		38,562		6,699,376
Shift4 Payments, Inc. - Class A (a)		72,950		4,819,807

				11,519,183


Food Products—0.7%
Simply Good Foods Co. (a)		74,576		2,537,821
Utz Brands, Inc.		240,128		4,427,961

				6,965,782


Health Care Equipment & Supplies—3.7%
Atrion Corp.		11,245		5,212,620
Haemonetics Corp. (a)		186,337		15,903,863
QuidelOrtho Corp. (a)		49,211		2,359,175
UFP Technologies, Inc. (a)		45,932		11,584,050

				35,059,708


Health Care Providers & Services—2.4%
Chemed Corp.		28,366		18,208,987
CorVel Corp. (a)		16,470		4,330,951

				22,539,938


Health Care Technology—0.3%
Simulations Plus, Inc.		78,749		3,240,521


Hotels, Restaurants & Leisure—1.5%
Texas Roadhouse, Inc.		90,413		13,966,096


Household Durables—0.5%
Installed Building Products, Inc.		19,902		5,149,244


Household Products—1.3%
Church & Dwight Co., Inc.		38,943		4,062,145
WD-40 Co.		32,062		8,121,625

				12,183,770

BHFTII-242

Brighthouse Funds Trust II

Neuberger Berman Genesis Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Insurance—2.4%
AMERISAFE, Inc.		113,452	$	5,691,887
Hagerty, Inc. - Class A (a)		210,933		1,930,037
RLI Corp.		75,770		11,249,572
Stewart Information Services Corp.		66,802		4,346,138

				23,217,634


Life Sciences Tools & Services—4.4%
Bio-Techne Corp.		212,268		14,941,544
ICON PLC (a)		29,045		9,757,668
Stevanato Group SpA		235,222		7,550,626
West Pharmaceutical Services, Inc.		24,298		9,614,962

				41,864,800


Machinery—13.6%
Crane Co.		36,089		4,876,707
Enerpac Tool Group Corp.		60,868		2,170,553
Enpro, Inc.		11,244		1,897,650
Esab Corp.		111,120		12,286,538
ESCO Technologies, Inc.		53,620		5,740,021
Federal Signal Corp.		41,024		3,481,707
Graco, Inc.		101,803		9,514,508
Hillman Solutions Corp. (a)		487,816		5,190,362
Kadant, Inc.		53,599		17,585,832
Lindsay Corp.		48,678		5,727,453
Nordson Corp.		33,608		9,226,740
Omega Flex, Inc.		27,091		1,921,565
RBC Bearings, Inc. (a)		65,039		17,583,294
SPX Technologies, Inc. (a)		104,266		12,838,273
Standex International Corp.		52,709		9,604,634
Toro Co.		120,985		11,085,855

				130,731,692


Marine Transportation—1.9%
Kirby Corp. (a)		187,844		17,905,290


Media—2.2%
Cable One, Inc.		9,309		3,938,917
Nexstar Media Group, Inc.		84,547		14,566,603
TechTarget, Inc. (a)		87,769		2,903,398

				21,408,918


Oil, Gas & Consumable Fuels—3.2%
CNX Resources Corp. (a)		205,640		4,877,781
Matador Resources Co.		99,321		6,631,663
Sitio Royalties Corp. - Class A		338,442		8,366,286
Southwestern Energy Co. (a)		479,343		3,633,420
Texas Pacific Land Corp.		7,149		4,135,768
Viper Energy, Inc.		74,967		2,883,231

				30,528,149


Pharmaceuticals—0.5%
Amphastar Pharmaceuticals, Inc. (a)		101,048		4,437,018


Professional Services—3.2%
CBIZ, Inc. (a)		62,228		4,884,898
CRA International, Inc.		37,538		5,614,934
Exponent, Inc.		148,263		12,259,868
FTI Consulting, Inc. (a)		38,759		8,150,630

				30,910,330


Real Estate Management & Development—1.9%
Colliers International Group, Inc.		20,320		2,483,713
FirstService Corp.		92,151		15,278,636

				17,762,349


Semiconductors & Semiconductor Equipment—4.2%
Lattice Semiconductor Corp. (a)		253,999		19,870,342
MKS Instruments, Inc.		56,758		7,548,814
Power Integrations, Inc.		181,497		12,986,110

				40,405,266


Software—12.6%
Aspen Technology, Inc. (a)		49,746		10,609,827
CommVault Systems, Inc. (a)		91,499		9,280,743
Computer Modelling Group Ltd.		149,492		1,121,190
Fair Isaac Corp. (a)		15,588		19,478,921
Manhattan Associates, Inc. (a)		87,273		21,838,323
Model N, Inc. (a)		206,728		5,885,546
Qualys, Inc. (a)		110,230		18,394,080
SPS Commerce, Inc. (a)		97,204		17,973,020
Tyler Technologies, Inc. (a)		21,181		9,002,137
Vertex, Inc. - Class A (a)		217,428		6,905,513

				120,489,300


Specialty Retail—4.5%
Asbury Automotive Group, Inc. (a)		68,687		16,195,021
Floor & Decor Holdings, Inc. - Class A (a)		87,054		11,283,940
Tractor Supply Co.		31,056		8,127,976
Winmark Corp.		19,882		7,191,319

				42,798,256


Trading Companies & Distributors—2.8%
Richelieu Hardware Ltd.		132,086		4,154,046
SiteOne Landscape Supply, Inc. (a)		36,194		6,317,663
Transcat, Inc. (a)		41,510		4,625,459
Watsco, Inc.		26,835		11,591,915

				26,689,083

Total Common Stocks (Cost $569,119,343)				950,277,808

BHFTII-243

Brighthouse Funds Trust II

Neuberger Berman Genesis Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Short-Term Investment—1.0%


Security Description	Principal Amount*		Value

Repurchase Agreement—1.0%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $9,878,697; collateralized by U.S. Treasury Bond at 4.250%, maturing 02/15/54, with a market value of $10,073,547.		9,875,954	$	9,875,954

Total Short-Term Investments (Cost $9,875,954)				9,875,954

Total Investments—100.2% (Cost $578,995,297)				960,153,762
Other assets and liabilities (net)—(0.2)%				(1,708,015	)

Net Assets—100.0%			$	958,445,747


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Total Common Stocks*	$	950,277,808	$	—	$	—	$	950,277,808
Total Short-Term Investment*		—		9,875,954		—		9,875,954
Total Investments	$	950,277,808	$	9,875,954	$	—	$	960,153,762


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-244

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—98.0% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—0.5%
Airbus SE		56,536	$	10,428,407


Automobiles—1.3%
Ferrari NV (a)		26,619		11,604,287
Rivian Automotive, Inc. - Class A (a) (b)		781,885		8,561,641
Tesla, Inc. (b)		53,323		9,373,650

				29,539,578


Biotechnology—1.4%
Argenx SE (ADR) (a) (b)		27,943		11,001,718
Legend Biotech Corp. (ADR) (a) (b)		109,560		6,145,220
Vertex Pharmaceuticals, Inc. (b)		34,510		14,425,525

				31,572,463


Broadline Retail—8.9%
Amazon.com, Inc. (b)		1,043,117		188,157,444
Coupang, Inc. (b)		904,939		16,098,865

				204,256,309


Capital Markets—0.6%
Charles Schwab Corp.		202,378		14,640,024


Chemicals—0.5%
Linde PLC (a)		23,870		11,083,318


Commercial Services & Supplies—0.3%
Cintas Corp.		9,410		6,464,952


Consumer Staples Distribution & Retail—1.1%
Dollar General Corp.		135,747		21,184,677
Maplebear, Inc. (b)		84,503		3,151,117

				24,335,794


Electrical Equipment—0.4%
Rockwell Automation, Inc. (a)		28,500		8,302,905


Electronic Equipment, Instruments & Components—0.9%
Amphenol Corp. - Class A		1,951		225,048
Teledyne Technologies, Inc. (b)		48,644		20,883,842

				21,108,890


Energy Equipment & Services—0.8%
Schlumberger NV		344,125		18,861,491


Entertainment—2.0%
Netflix, Inc. (b)		48,924		29,713,013
Spotify Technology SA (a) (b)		60,131		15,868,571

				45,581,584


Financial Services—6.5%
Fiserv, Inc. (b)		167,055		26,698,730
Mastercard, Inc. - Class A		113,337		54,579,699
Visa, Inc. - Class A (a)		242,802		67,761,182

				149,039,611


Ground Transportation—1.5%
Old Dominion Freight Line, Inc. (a)		63,544		13,935,835
Uber Technologies, Inc. (b)		274,300		21,118,357

				35,054,192


Health Care Equipment & Supplies—1.9%
Intuitive Surgical, Inc. (b)		85,841		34,258,285
Stryker Corp.		26,616		9,525,068

				43,783,353


Health Care Providers & Services—3.5%
Cigna Group (a)		70,105		25,461,435
UnitedHealth Group, Inc.		108,031		53,442,936

				78,904,371


Hotels, Restaurants & Leisure—1.7%
Booking Holdings, Inc. (a)		2,220		8,053,894
Chipotle Mexican Grill, Inc. (b)		6,243		18,146,965
Las Vegas Sands Corp.		237,762		12,292,295

				38,493,154


Insurance—0.6%
Chubb Ltd.		52,142		13,511,556


Interactive Media & Services—12.2%
Alphabet, Inc. - Class A (b)		854,420		128,957,611
Alphabet, Inc. - Class C (b)		199,742		30,412,717
Meta Platforms, Inc. - Class A		222,382		107,984,251
Pinterest, Inc. - Class A (b)		302,539		10,489,027

				277,843,606


IT Services—1.2%
Accenture PLC - Class A		13,263		4,597,088
MongoDB, Inc. (a) (b)		8,296		2,975,278
Shopify, Inc. - Class A (b)		221,923		17,125,798
Stripe, Inc. - Class B † (b) (c) (d)		63,278		1,645,228

				26,343,392


Life Sciences Tools & Services—1.3%
Danaher Corp.		58,150		14,521,218
Thermo Fisher Scientific, Inc.		27,504		15,985,600

				30,506,818


Pharmaceuticals—3.7%
Eli Lilly & Co.		98,587		76,696,743
Zoetis, Inc.		52,320		8,853,067

				85,549,810


Professional Services—0.6%
Dayforce, Inc. (a) (b)		77,465		5,128,958
TransUnion		107,434		8,573,233

				13,702,191

BHFTII-245

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Semiconductors & Semiconductor Equipment—13.1%
Advanced Micro Devices, Inc. (b)		105,081	$	18,966,070
ASML Holding NV		32,510		31,549,980
Intel Corp.		229,100		10,119,347
Lam Research Corp.		16,093		15,635,476
NVIDIA Corp.		240,741		217,523,938
Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) (a)		48,270		6,567,133

				300,361,944


Software—22.8%
Adobe, Inc. (b)		53,424		26,957,750
Atlassian Corp. - Class A (b)		94,609		18,459,162
Aurora Innovation, Inc. (a) (b)		804,390		2,268,380
Autodesk, Inc. (b)		67,100		17,474,182
Dynatrace, Inc. (a) (b)		176,657		8,203,951
Epic Games, Inc. † (b) (c) (d)		7,488		4,516,762
Fortinet, Inc. (b)		256,400		17,514,684
Intuit, Inc.		46,370		30,140,500
Magic Leap, Inc. - Class A † (b) (c) (d)		10,914		52,387
Microsoft Corp.		722,807		304,099,361
Monday.com Ltd. (b)		3,511		793,030
Roper Technologies, Inc.		26,748		15,001,348
Salesforce, Inc.		99,101		29,847,239
ServiceNow, Inc. (b)		45,205		34,464,292
Synopsys, Inc. (b)		18,900		10,801,350

				520,594,378


Specialty Retail—0.6%
Floor & Decor Holdings, Inc. - Class A (a) (b)		48,023		6,224,741
Ross Stores, Inc.		48,326		7,092,324

				13,317,065


Technology Hardware, Storage & Peripherals—7.0%
Apple, Inc.		929,647		159,415,868


Textiles, Apparel & Luxury Goods—0.5%
NIKE, Inc. - Class B		122,969		11,556,627


Wireless Telecommunication Services—0.6%
T-Mobile U.S., Inc. (a)		90,914		14,838,983

Total Common Stocks (Cost $1,200,396,965)				2,238,992,634


Preferred Stocks—1.0%

Automobiles—0.4%
Dr Ing hc F Porsche AG		95,027		9,459,323


Life Sciences Tools & Services—0.6%
Sartorius AG (b)		31,914		12,692,434

Total Preferred Stocks (Cost $21,218,190)				22,151,757

Convertible Preferred Stocks—0.8%
Security Description	Shares/ Principal Amount*		Value

Automobiles—0.2%
GM Cruise Holdings LLC - Class F † (b) (c) (d)		196,100		1,145,224
Nuro, Inc. - Series C † (b) (c) (d)		179,741		735,140
Sila Nanotechnologies, Inc. - Series F † (b) (c) (d)		52,110		1,056,791
Waymo LLC - Series A-2 † (b) (c) (d)		26,511		1,635,729

				4,572,884


Commercial Services & Supplies—0.2%
Redwood Materials, Inc. - Series D † (b) (c) (d)		110,579		5,278,580


Consumer Staples Distribution & Retail—0.1%
Rappi, Inc. - Series E † (b) (c) (d)		52,748		1,198,435


Financial Services—0.1%
ANT Group Co. Ltd. † (b) (c) (d)		2,959,806		2,985,260


Software—0.2%
Celonis SE - Series D † (b) (c) (d)		1,177		262,565
Databricks, Inc. - Series I † (b) (c) (d)		68,560		4,846,507

				5,109,072

Total Convertible Preferred Stocks (Cost $27,216,699)				19,144,231


Short-Term Investment—0.0%

Mutual Funds—0.0%
T. Rowe Price Government Reserve Fund (e)		8,005		8,005

Total Short-Term Investments (Cost $8,005)				8,005


Securities Lending Reinvestments (f)—5.7%

Certificates of Deposit—1.1%
Bank of America Corp. 5.560%, SOFR + 0.230%, 07/08/24 (g)		1,000,000		1,000,400
Bank of Montreal 5.630%, SOFR + 0.300%, 03/04/25 (g)		1,000,000		999,999
Bank of Nova Scotia 5.640%, SOFR + 0.310%, 03/19/25 (g)		2,000,000		1,999,981
Canadian Imperial Bank of Commerce (NY) 5.690%, SOFR + 0.360%, 01/09/25 (g)		1,000,000		1,000,696
Mitsubishi UFJ Trust & Banking Corp. 5.560%, SOFR + 0.240%, 07/11/24 (g)		1,000,000		999,988
Mizuho Bank Ltd. 5.730%, SOFR + 0.400%, 04/18/24 (g)		1,000,000		1,000,154
MUFG Bank Ltd. (London) 5.510%, SOFR + 0.200%, 09/23/24 (g)		2,000,000		2,000,000
National Westminster Bank PLC 5.880%, 05/02/24		2,000,000		2,000,980
Nordea Bank Abp 5.450%, SOFR + 0.120%, 07/15/24 (g)		2,000,000		1,999,872
Oversea-Chinese Banking Corp. Ltd.
5.450%, SOFR + 0.120%, 07/19/24 (g)		2,000,000		1,999,940
5.500%, SOFR + 0.170%, 09/16/24 (g)		2,000,000		1,999,872

BHFTII-246

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)


Security Description	Principal Amount*		Value

Certificates of Deposit—(Continued)
Royal Bank of Canada 5.880%, FEDEFF PRV + 0.550%, 09/20/24 (g)		2,000,000	$	2,003,932
SMBC Bank International PLC Zero Coupon, 05/13/24		1,000,000		993,180
Standard Chartered Bank 5.720%, SOFR + 0.390%, 04/19/24 (g)		1,000,000		1,000,171
Sumitomo Mitsui Banking Corp. 5.560%, SOFR + 0.230%, 07/11/24 (g)		1,000,000		1,000,319
Sumitomo Mitsui Trust Bank Ltd. 5.730%, SOFR + 0.400%, 04/24/24 (g)		1,000,000		1,000,216
Toronto-Dominion Bank 5.710%, SOFR + 0.380%, 01/08/25 (g)		1,000,000		999,988
Westpac Banking Corp. 5.880%, SOFR + 0.550%, 10/11/24 (g)		1,000,000		1,001,878

				25,001,566


Commercial Paper—0.2%
Australia & New Zealand Banking Group Ltd.
5.640%, 04/18/24		1,000,000		996,837
5.660%, SOFR + 0.330%, 04/18/24 (g)		1,000,000		1,000,098
ING U.S. Funding LLC 5.560%, SOFR + 0.230%, 11/20/24 (g)		1,000,000		999,996
Old Line Funding LLC 5.450%, SOFR + 0.120%, 05/08/24 (g)		1,000,000		999,997

				3,996,928


Repurchase Agreements—3.7%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $10,804,905; collateralized by various Common Stock with an aggregate market value of $12,029,275.		10,800,000		10,800,000
Barclays Bank PLC
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $3,001,355; collateralized by various Common Stock with an aggregate market value of $3,342,868.		3,000,000		3,000,000
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $700,318; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $716,340.		700,000		700,000
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/24 at 5.620%, due on 05/03/24 with a maturity value of $7,038,247; collateralized by various Common Stock with an aggregate market value of $7,700,000.		7,000,000		7,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $9,452,031; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $9,636,816.		9,447,859		9,447,859

Repurchase Agreements—(Continued)
National Bank of Canada
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $15,015,896; collateralized by various Common Stock with an aggregate market value of $16,712,079.		15,000,000		15,000,000
Repurchase Agreement dated 03/29/24 at 5.470%, due on 04/01/24 with a maturity value of $2,000,912; collateralized by various Common Stock with an aggregate market value of $2,231,672.		2,000,000		2,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $20,559,385; collateralized by various Common Stock with an aggregate market value of $22,923,783.		20,550,000		20,550,000
Royal Bank of Canada Toronto Repurchase Agreement dated 03/29/24 at 5.590%, due on 05/03/24 with a maturity value of $3,016,304; collateralized by various Common Stock with an aggregate market value of $3,333,851.		3,000,000		3,000,000
Societe Generale Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $3,001,355; collateralized by various Common Stock with an aggregate market value of $3,339,382.		3,000,000		3,000,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $11,004,968; collateralized by various Common Stock with an aggregate market value of $12,101,830.		11,000,000		11,000,000

				85,497,859


Time Deposits—0.4%
Banco Santander SA (NY) 5.310%, 04/01/24		4,000,000		4,000,000
DZ Bank AG (NY) 5.290%, 04/01/24		4,000,000		4,000,000

				8,000,000


Mutual Funds—0.3%
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 5.260% (h)		2,000,000		2,000,000
STIT-Government & Agency Portfolio, Institutional Class 5.230% (h)		5,000,000		5,000,000

				7,000,000

Total Securities Lending Reinvestments (Cost $129,488,867)				129,496,353

Total Investments—105.5% (Cost $1,378,328,726)				2,409,792,980
Other assets and liabilities (net)—(5.5)%				(124,555,218	)

Net Assets—100.0%			$	2,285,237,762

BHFTII-247

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)


*		Principal amount stated in U.S. dollars unless otherwise noted.
†		Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2024, the market value of restricted securities was $25,358,608, which is 1.1% of net assets. See details shown in the Restricted Securities table that follows.
(a)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $151,591,395 and the collateral received consisted of cash in the amount of $129,455,476 and non-cash collateral with a value of $27,872,910. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(b)		Non-income producing security.
(c)		Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent 1.1% of net assets.
(d)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(e)		Affiliated Issuer.
(f)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(g)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(h)		The rate shown represents the annualized seven-day yield as of March 31, 2024.


Restricted Securities	Acquisition Date		Shares		Cost		Value
ANT Group Co. Ltd.		08/14/23		2,959,806	$	2,959,806	$	2,985,260
Celonis SE - Series D		10/04/22		1,177		435,243		262,565
Databricks, Inc. - Series I		09/14/23		68,560		5,039,160		4,846,507
Epic Games, Inc.		06/18/20		7,488		4,310,738		4,516,762
GM Cruise Holdings LLC - Class F		05/07/19		196,100		3,578,825		1,145,224
Magic Leap, Inc. - Class A		01/20/16-10/12/17		10,914		5,305,346		52,387
Nuro, Inc. - Series C		10/30/20		179,741		2,346,447		735,140
Rappi, Inc. - Series E		09/08/20-09/24/20		52,748		3,151,484		1,198,435
Redwood Materials - Series D		06/02/23		110,579		5,278,583		5,278,580
Sila Nanotechnologies, Inc. - Series F		01/07/21		52,110		2,150,726		1,056,791
Stripe, Inc. - Class B		12/17/19		63,278		992,832		1,645,228
Waymo LLC - Series A-2		05/08/20		26,511		2,276,425		1,635,729

							$	25,358,608

Transactions in Securities of Affiliated Issuers

A summary of the Portfolio’s transactions in the securities of affiliated issuers for the period ended March 31, 2024 is as follows.


Security Description	Market Value December 31, 2023		Purchases		Sales			Ending Value as of March 31, 2024		Income earned from affiliates during the period
T. Rowe Price Government Reserve Fund	$	7,856,074	$	55,290,059	$	(63,138,128	)	$	8,005	$	68,531

Glossary of Abbreviations

Index Abbreviations


(FEDEFF PRV)—		Effective Federal Funds Rate
(SOFR)—		Secured Overnight Financing Rate

Other Abbreviations


(ADR)—		American Depositary Receipt

BHFTII-248

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	—	$	10,428,407		$	—	$	10,428,407
Automobiles		29,539,578		—			—		29,539,578
Biotechnology		31,572,463		—			—		31,572,463
Broadline Retail		204,256,309		—			—		204,256,309
Capital Markets		14,640,024		—			—		14,640,024
Chemicals		11,083,318		—			—		11,083,318
Commercial Services & Supplies		6,464,952		—			—		6,464,952
Consumer Staples Distribution & Retail		24,335,794		—			—		24,335,794
Electrical Equipment		8,302,905		—			—		8,302,905
Electronic Equipment, Instruments & Components		21,108,890		—			—		21,108,890
Energy Equipment & Services		18,861,491		—			—		18,861,491
Entertainment		45,581,584		—			—		45,581,584
Financial Services		149,039,611		—			—		149,039,611
Ground Transportation		35,054,192		—			—		35,054,192
Health Care Equipment & Supplies		43,783,353		—			—		43,783,353
Health Care Providers & Services		78,904,371		—			—		78,904,371
Hotels, Restaurants & Leisure		38,493,154		—			—		38,493,154
Insurance		13,511,556		—			—		13,511,556
Interactive Media & Services		277,843,606		—			—		277,843,606
IT Services		24,698,164		—			1,645,228		26,343,392
Life Sciences Tools & Services		30,506,818		—			—		30,506,818
Pharmaceuticals		85,549,810		—			—		85,549,810
Professional Services		13,702,191		—			—		13,702,191
Semiconductors & Semiconductor Equipment		300,361,944		—			—		300,361,944
Software		516,025,229		—			4,569,149		520,594,378
Specialty Retail		13,317,065		—			—		13,317,065
Technology Hardware, Storage & Peripherals		159,415,868		—			—		159,415,868
Textiles, Apparel & Luxury Goods		11,556,627		—			—		11,556,627
Wireless Telecommunication Services		14,838,983		—			—		14,838,983
Total Common Stocks		2,222,349,850		10,428,407			6,214,377		2,238,992,634
Total Preferred Stocks*		—		22,151,757			—		22,151,757
Total Convertible Preferred Stocks*		—		—			19,144,231		19,144,231
Total Short-Term Investment*		8,005		—			—		8,005
Securities Lending Reinvestments
Certificates of Deposit		—		25,001,566			—		25,001,566
Commercial Paper		—		3,996,928			—		3,996,928
Repurchase Agreements		—		85,497,859			—		85,497,859
Time Deposits		—		8,000,000			—		8,000,000
Mutual Funds		7,000,000		—			—		7,000,000
Total Securities Lending Reinvestments		7,000,000		122,496,353			—		129,496,353
Total Investments	$	2,229,357,855	$	155,076,517		$	25,358,608	$	2,409,792,980

Collateral for Securities Loaned (Liability)	$	—	$	(129,455,476	)	$	—	$	(129,455,476	)


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-249

Brighthouse Funds Trust II

T. Rowe Price Large Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:


Investments in Securities	Balance as of December 31, 2023		Change in Unrealized Appreciation / (Depreciation)			Balance as of March 31, 2024		Change in Unrealized Appreciation/ (Depreciation) from Investments Held at March 31, 2024
Common Stocks
IT Services	$	1,413,631	$	231,597		$	1,645,228	$	231,597
Software		3,576,989		992,160			4,569,149		992,160
Convertible Preferred Stocks
Automobiles		4,449,608		123,276			4,572,884		123,276
Commercial Services & Supplies		5,278,580		—			5,278,580		—
Consumer Staples Distribution & Retail		1,198,435		—			1,198,435		—
Financial Services		2,898,242		87,018			2,985,260		87,018
Software		5,156,378		(47,306	)		5,109,072		(47,306	)

	$	23,971,863	$	1,386,745		$	25,358,608	$	1,386,745


	Fair Value at March 31, 2024		Valuation Technique(s)	Unobservable Input	Range						Weighted Average			Relationship Between Fair Value and Input; if input value increases then Fair Value:
Common Stock
IT Services	$	1,645,228	Market Transaction Method	Precedent Transaction	$	26.00		$	26.00		$	26.00			Increase
Software		4,516,762	Comparable Company Analysis	Enterprise Value/Sales		5.6x			6.4x			6.0x			Increase
				Enterprise Value/Gross Profit		7.9x			9.0x			8.5x			Increase
				Discount for Lack of Marketability		10.00	%		10.00	%		10.00	%		Decrease
		52,387	Market Transaction Method	Precedent Transaction	$	19.20		$	19.20		$	19.20			Increase
				Discount for Lack of Certainty		75.00	%		75.00	%		75.00	%		Decrease
Convertible Preferred Stocks
Automobiles		1,145,224	Discounted Projected Multiple	Forward Enterprise Value/Sales		3.5x			5.3x			4.4x			Increase
				Discount Rate		35.00	%		35.00	%		35.00	%		Decrease
				Discount for Lack of Marketability		10.00	%		10.00	%		10.00	%		Decrease
		735,140	Comparable Company Analysis	Market Comparable Adjustment		-80.00	%		-80.00	%		-80.00	%		Decrease
		1,056,791	Comparable Company Analysis	Enterprise Value/Sales		1.4x			1.4x			1.4x			Increase
				Discount for Lack of Marketability		10.00	%		10.00	%		10.00	%		Decrease
		1,635,729	Market Transaction Method	Precedent Transaction	$	78.20		$	78.20		$	78.20			Increase
			Discounted Projected Multiple	Forward Enterprise Value/Sales		3.0x			4.3x			3.7x			Increase
				Discount Rate		30.00	%		30.00	%		30.00	%		Decrease
				Discount for Lack of Marketability		10.00	%		10.00	%		10.00	%		Decrease
Commercial Services & Supplies		5,278,580	Market Transaction Method	Precedent Transaction	$	47.74		$	47.74		$	47.74			Increase
Consumer Staples Distribution & Retail		1,198,435	Comparable Company Analysis	Enterprise Value/GMV		0.5x			0.6x			0.6x			Increase
				Enterprise Value/Gross Profit		5.0x			6.0x			5.5x			Increase
				Enterprise Value/EBITDA		14.5x			23.1x			18.8x			Increase
				Discount for Lack of Marketability		10.00	%		10.00	%		10.00	%		Decrease
Financial Services		2,985,260	Discounted Cash Flow	Contingent Payment Owed		70.00	%		70.00	%		70.00	%		Increase
				Accrued Interest Rate		3.55	%		3.55	%		3.55	%		Increase
				Discount Rate		5.68	%		5.68	%		5.68	%		Decrease
Software		262,565	Calibration Model	Enterprise Value/Sales		11.7x			14.8x			13.3x			Increase
				Enterprise Value/Gross Profit		14.9x			18.9x			16.9x			Increase
				Implied Premium		0.0	%		0.0	%		0.0	%		Increase

		4,846,507	Market Transaction Method	Precedent Transactions	$	65.00		$	73.50		$	69.72			Increase
			Comparable Company Analysis	Enterprise Value/Sales		11.5x			18.0x			14.8x			Increase
				Discount for Lack of Marketability		13.00	%		13.00	%		13.00	%		Decrease
			Discounted Cash Flow	Weighted Average Cost of Capital		15.50	%		15.50	%		15.50	%		Decrease
				Terminal Year Revenue Multiple		4.7x			4.7x			4.7x			Increase

BHFTII-250

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—99.2% of Net Assets


Security Description	Shares		Value

Aerospace & Defense—2.2%
Cadre Holdings, Inc. (a)		48,100	$	1,741,220
Curtiss-Wright Corp.		48,007		12,286,911
Leonardo DRS, Inc. (a) (b)		246,498		5,445,141
Moog, Inc. - Class A (a)		8,258		1,318,390
Woodward, Inc.		47,633		7,341,198

				28,132,860


Air Freight & Logistics—0.4%
GXO Logistics, Inc. (b)		93,011		5,000,271


Automobile Components—0.5%
LCI Industries (a)		5,702		701,688
Patrick Industries, Inc. (a)		25,532		3,050,308
Visteon Corp. (a) (b)		18,030		2,120,509

				5,872,505


Banks—0.5%
Bancorp, Inc. (b)		128,066		4,285,088
ServisFirst Bancshares, Inc. (a)		34,200		2,269,512

				6,554,600


Beverages—0.8%
Celsius Holdings, Inc. (b)		37,861		3,139,434
Coca-Cola Consolidated, Inc.		7,799		6,601,152

				9,740,586


Biotechnology—9.4%
ACADIA Pharmaceuticals, Inc. (b)		108,264		2,001,801
Agios Pharmaceuticals, Inc. (b)		46,240		1,352,058
Akero Therapeutics, Inc. (a) (b)		51,448		1,299,577
Alkermes PLC (a) (b)		127,463		3,450,423
Allogene Therapeutics, Inc. (a) (b)		61,692		275,763
Alpine Immune Sciences, Inc. (b)		31,300		1,240,732
Amicus Therapeutics, Inc. (b)		148,739		1,752,145
Arcellx, Inc. (a) (b)		25,200		1,752,660
Avidity Biosciences, Inc. † (b) (c)		43,375		1,051,584
Avidity Biosciences, Inc. (b)		64,328		1,641,651
Biohaven Ltd. (a) (b)		115,029		6,290,936
Biomea Fusion, Inc. (a) (b)		19,500		291,525
Blueprint Medicines Corp. (a) (b)		74,389		7,056,541
Bridgebio Pharma, Inc. (a) (b)		84,700		2,618,924
Catalyst Pharmaceuticals, Inc. (a) (b) †		135,800		2,164,652
Celldex Therapeutics, Inc. (b)		28,464		1,194,634
Cerevel Therapeutics Holdings, Inc. (b)		32,354		1,367,604
Crinetics Pharmaceuticals, Inc. (a) (b)		53,184		2,489,543
CRISPR Therapeutics AG (a) (b)		63,278		4,313,029
Cytokinetics, Inc. (a) (b)		81,177		5,691,319
Day One Biopharmaceuticals, Inc. (a) (b)		36,371		600,849
Denali Therapeutics, Inc. (b)		33,032		677,817
Disc Medicine, Inc. (a) (b)		6,000		373,560
Exelixis, Inc. (b)		244,385		5,799,256
Halozyme Therapeutics, Inc. (b)		142,431		5,794,093
Ideaya Biosciences, Inc. (a) (b)		37,524		1,646,553
IGM Biosciences, Inc. (a) (b)		22,768		219,711
Immunovant, Inc. (b)		30,416		982,741
Insmed, Inc. (a) (b)		181,860		4,933,862

Biotechnology—(Continued)
Intellia Therapeutics, Inc. (a) (b)		52,699		1,449,750
Ionis Pharmaceuticals, Inc. (a) (b)		101,146		4,384,679
Iovance Biotherapeutics, Inc. (a) (b)		167,698		2,485,284
Krystal Biotech, Inc. (a) (b)		14,100		2,508,813
Kymera Therapeutics, Inc. (a) (b)		76,327		3,068,345
Madrigal Pharmaceuticals, Inc. (a) (b)		8,059		2,152,075
Merus NV (b)		12,900		580,887
Mirum Pharmaceuticals, Inc. (a) (b)		12,200		306,464
Monte Rosa Therapeutics, Inc. (a) (b)		9,800		69,090
MoonLake Immunotherapeutics (a) (b)		12,800		642,944
Morphic Holding, Inc. (a) (b)		30,637		1,078,422
Natera, Inc. (b)		66,744		6,104,406
Neurocrine Biosciences, Inc. (b)		26,879		3,707,152
Nurix Therapeutics, Inc. (b)		23,600		346,920
Nuvalent, Inc. - Class A (b)		20,557		1,543,625
Prothena Corp. PLC (a) (b)		66,278		1,641,706
PTC Therapeutics, Inc. (a) (b)		72,654		2,113,505
Relay Therapeutics, Inc. (a) (b)		91,000		755,300
Replimune Group, Inc. (a) (b)		73,809		603,020
Revolution Medicines, Inc. (a) (b)		35,256		1,136,301
Rhythm Pharmaceuticals, Inc. (a) (b)		30,800		1,334,564
Rocket Pharmaceuticals, Inc. (b)		45,297		1,220,301
Scholar Rock Holding Corp. (a) (b)		55,206		980,459
SpringWorks Therapeutics, Inc. (b)		24,396		1,200,771
Ultragenyx Pharmaceutical, Inc. (b)		52,135		2,434,183
Vaxcyte, Inc. (a) (b)		46,809		3,197,523
Xencor, Inc. (a) (b)		74,124		1,640,364
Zentalis Pharmaceuticals, Inc. (a) (b)		24,973		393,574

				119,405,970


Building Products—3.5%
AAON, Inc.		61,006		5,374,629
Azek Co., Inc. (b)		149,200		7,492,824
Builders FirstSource, Inc. (b)		34,970		7,292,993
CSW Industrials, Inc. (a)		23,231		5,449,993
Gibraltar Industries, Inc. (b)		18,223		1,467,498
Simpson Manufacturing Co., Inc.		41,600		8,535,488
UFP Industries, Inc.		75,700		9,311,857

				44,925,282


Capital Markets—1.8%
Blue Owl Capital, Inc. (a)		251,301		4,739,537
Donnelley Financial Solutions, Inc. (b)		31,600		1,959,516
FactSet Research Systems, Inc.		9,189		4,175,390
Hamilton Lane, Inc. - Class A		43,400		4,893,784
LPL Financial Holdings, Inc.		10,431		2,755,870
MarketAxess Holdings, Inc.		3,394		744,134
StoneX Group, Inc. (b)		51,300		3,604,338

				22,872,569


Chemicals—1.5%
Axalta Coating Systems Ltd. (b)		159,171		5,473,891
Balchem Corp. (a)		19,799		3,067,855
Element Solutions, Inc.		126,262		3,154,025
Olin Corp.		87,783		5,161,640

BHFTII-251

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Chemicals—(Continued)
Quaker Chemical Corp. (a)		9,300	$	1,908,825

				18,766,236


Commercial Services & Supplies—1.8%
Casella Waste Systems, Inc. - Class A (a) (b)		90,792		8,976,605
Clean Harbors, Inc. (b)		34,217		6,888,224
MSA Safety, Inc.		26,205		5,073,026
Rentokil Initial PLC (ADR) (a)		82,421		2,484,993

				23,422,848


Communications Equipment—0.1%
Extreme Networks, Inc. (b)		72,780		839,881


Construction & Engineering—2.1%
API Group Corp. (a) (b)		162,958		6,399,361
Comfort Systems USA, Inc.		39,661		12,600,696
EMCOR Group, Inc.		11,870		4,156,874
WillScot Mobile Mini Holdings Corp. (a) (b)		77,968		3,625,512

				26,782,443


Construction Materials—0.8%
Eagle Materials, Inc.		38,772		10,536,291


Consumer Staples Distribution & Retail—0.8%
BJ’s Wholesale Club Holdings, Inc. (b)		10,422		788,424
Casey’s General Stores, Inc. (a)		13,218		4,209,272
Performance Food Group Co. (b)		71,381		5,327,878

				10,325,574


Containers & Packaging—0.3%
Graphic Packaging Holding Co. (a)		119,814		3,496,173


Distributors—0.4%
Pool Corp. (a)		12,974		5,235,009


Diversified Consumer Services—1.4%
Bright Horizons Family Solutions, Inc. (a) (b)		28,763		3,260,574
Duolingo, Inc. (b)		23,000		5,073,340
Grand Canyon Education, Inc. (b)		26,574		3,619,644
H&R Block, Inc.		52,800		2,593,008
Stride, Inc. (a) (b)		47,600		3,001,180

				17,547,746


Diversified Telecommunication Services—0.5%
Cogent Communications Holdings, Inc. (a)		41,733		2,726,417
Iridium Communications, Inc.		132,316		3,461,387

				6,187,804


Electrical Equipment—1.3%
Atkore, Inc. (a)		46,232		8,800,724
NEXTracker, Inc. - Class A (a) (b)		12,500		703,375
Vertiv Holdings Co.		87,094		7,112,967

				16,617,066


Electronic Equipment, Instruments & Components—2.8%
Advanced Energy Industries, Inc.		41,824		4,265,212
Fabrinet (a) (b)		49,634		9,381,819
Littelfuse, Inc.		7,701		1,866,337
Novanta, Inc. (b)		50,084		8,753,181
Teledyne Technologies, Inc. (b)		7,042		3,023,271
Vontier Corp.		182,461		8,276,431
Zebra Technologies Corp. - Class A (b)		2,507		755,710

				36,321,961


Energy Equipment & Services—2.4%
ChampionX Corp. (a)		72,955		2,618,355
Expro Group Holdings NV (b)		69,608		1,390,072
Noble Corp. PLC (a)		88,558		4,294,177
TechnipFMC PLC (a)		139,616		3,505,758
Tidewater, Inc. (a) (b)		56,400		5,188,800
Weatherford International PLC (b)		114,625		13,230,017

				30,227,179


Entertainment—0.7%
Endeavor Group Holdings, Inc. - Class A		221,207		5,691,656
TKO Group Holdings, Inc.		43,686		3,774,907

				9,466,563


Financial Services—1.3%
Affirm Holdings, Inc. (a) (b)		26,050		970,623
Euronet Worldwide, Inc. (b)		32,356		3,556,895
EVERTEC, Inc. (a)		70,243		2,802,696
Mr Cooper Group, Inc. (b)		33,300		2,595,735
Payoneer Global, Inc. (a) (b)		447,500		2,174,850
Shift4 Payments, Inc. - Class A (a) (b)		61,435		4,059,010

				16,159,809


Food Products—0.7%
Post Holdings, Inc. (b)		60,725		6,453,853
Simply Good Foods Co. (a) (b)		69,950		2,380,399

				8,834,252


Ground Transportation—1.9%
Landstar System, Inc.		24,877		4,795,291
Saia, Inc. (a) (b)		17,968		10,511,280
XPO, Inc. (b)		78,069		9,526,760

				24,833,331


Health Care Equipment & Supplies—3.8%
CONMED Corp. (a)		19,269		1,543,062
Globus Medical, Inc. - Class A (a) (b)		106,589		5,717,434
Haemonetics Corp. (a) (b)		36,077		3,079,172
Inari Medical, Inc. (b)		41,252		1,979,271
Inspire Medical Systems, Inc. (a) (b)		18,399		3,951,921
iRhythm Technologies, Inc. (a) (b)		22,104		2,564,064
Lantheus Holdings, Inc. (a) (b)		88,135		5,485,522
Merit Medical Systems, Inc. (a) (b)		90,345		6,843,634
Penumbra, Inc. (a) (b)		14,414		3,216,917
PROCEPT BioRobotics Corp. (a) (b)		62,915		3,109,259

BHFTII-252

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Health Care Equipment & Supplies—(Continued)
Shockwave Medical, Inc. (a) (b)		7,565	$	2,463,391
STERIS PLC (a)		22,177		4,985,833
TransMedics Group, Inc. (a) (b)		31,600		2,336,504
UFP Technologies, Inc. (b)		4,800		1,210,560

				48,486,544


Health Care Providers & Services—4.7%
Addus HomeCare Corp. (b)		33,526		3,464,577
AMN Healthcare Services, Inc. (a) (b)		44,604		2,788,196
Chemed Corp.		2,995		1,922,580
CorVel Corp. (a) (b)		24,223		6,369,680
Encompass Health Corp.		53,800		4,442,804
Ensign Group, Inc. (a)		97,507		12,131,821
Guardant Health, Inc. (b)		60,085		1,239,553
Molina Healthcare, Inc. (b)		23,802		9,778,576
NeoGenomics, Inc. (a) (b)		65,673		1,032,380
Option Care Health, Inc. (a) (b)		197,091		6,610,432
Tenet Healthcare Corp. (b)		98,400		10,342,824

				60,123,423


Health Care Technology—0.2%
Evolent Health, Inc. - Class A (a) (b)		73,352		2,405,212


Hotels, Restaurants & Leisure—5.2%
Bloomin’ Brands, Inc. (a)		117,388		3,366,688
Boyd Gaming Corp.		107,544		7,239,862
Cava Group, Inc. (a) (b)		20,323		1,423,626
Choice Hotels International, Inc. (a)		23,617		2,984,008
Churchill Downs, Inc.		40,306		4,987,868
Domino’s Pizza, Inc.		13,621		6,768,002
Hilton Grand Vacations, Inc. (b)		57,668		2,722,506
Light & Wonder, Inc. (a) (b)		79,400		8,105,946
Red Rock Resorts, Inc. - Class A		42,100		2,518,422
Texas Roadhouse, Inc.		70,034		10,818,152
Travel & Leisure Co.		33,835		1,656,562
United Parks & Resorts, Inc. (b)		24,697		1,388,218
Wingstop, Inc. (a)		34,100		12,494,240

				66,474,100


Household Durables—2.4%
Cavco Industries, Inc. (b)		11,633		4,642,265
Green Brick Partners, Inc. (a) (b)		56,468		3,401,068
Installed Building Products, Inc. (a)		20,100		5,200,473
Skyline Champion Corp. (b)		56,160		4,774,161
Tempur Sealy International, Inc.		135,566		7,702,860
TopBuild Corp. (b)		11,679		5,147,286

				30,868,113


Independent Power and Renewable Electricity Producers—0.2%
Ormat Technologies, Inc. (a)		41,773		2,764,955


Industrial REITs—0.6%
First Industrial Realty Trust, Inc.		65,629		3,448,148
Rexford Industrial Realty, Inc. (a)		39,933		2,008,630

Industrial REITs—(Continued)
Terreno Realty Corp.		25,483		1,692,071

				7,148,849


Insurance—2.2%
Kinsale Capital Group, Inc.		6,897		3,619,132
Oscar Health, Inc. - Class A (b)		106,600		1,585,142
Palomar Holdings, Inc. (a) (b)		14,915		1,250,324
Primerica, Inc. (a)		30,181		7,634,586
RLI Corp.		27,793		4,126,427
Ryan Specialty Holdings, Inc. (a)		95,463		5,298,196
Selective Insurance Group, Inc.		43,811		4,782,847

				28,296,654


Interactive Media & Services—0.1%
Reddit, Inc. - Class A (a) (b)		12,534		618,177


IT Services—0.5%
Gartner, Inc. (b)		7,778		3,707,539
Perficient, Inc. (b)		39,459		2,221,147

				5,928,686


Leisure Products—0.6%
Brunswick Corp. (a)		31,611		3,051,094
Mattel, Inc. (b)		255,988		5,071,122

				8,122,216


Life Sciences Tools & Services—2.6%
10X Genomics, Inc. - Class A (a) (b)		73,700		2,765,961
Bruker Corp.		32,437		3,047,132
Charles River Laboratories International, Inc. (a) (b)		17,418		4,719,407
Medpace Holdings, Inc. (b)		27,643		11,171,918
Repligen Corp. (a) (b)		28,800		5,296,896
West Pharmaceutical Services, Inc.		14,286		5,653,113

				32,654,427


Machinery—4.0%
Albany International Corp. - Class A		4,936		461,565
Federal Signal Corp.		82,072		6,965,451
John Bean Technologies Corp. (a)		20,335		2,132,938
Kadant, Inc. (a)		26,040		8,543,724
Lincoln Electric Holdings, Inc. (a)		26,375		6,737,230
RBC Bearings, Inc. (a) (b)		26,539		7,174,819
SPX Technologies, Inc. (b)		62,337		7,675,555
Symbotic, Inc. (a) (b)		44,800		2,016,000
Toro Co.		18,751		1,718,154
Watts Water Technologies, Inc. - Class A		37,337		7,935,979

				51,361,415


Media—0.6%
Nexstar Media Group, Inc. (a)		41,501		7,150,207
Thryv Holdings, Inc. (a) (b)		48,957		1,088,314

				8,238,521

BHFTII-253

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares		Value

Metals & Mining—0.8%
Alpha Metallurgical Resources, Inc. (a)		11,160	$	3,695,857
ATI, Inc. (a) (b)		132,853		6,798,088

				10,493,945


Oil, Gas & Consumable Fuels—1.6%
Centrus Energy Corp. - Class A (a) (b)		36,600		1,519,998
Dorian LPG Ltd.		21,400		823,044
Kosmos Energy Ltd. (b)		211,982		1,263,413
Matador Resources Co. (a)		103,910		6,938,070
PBF Energy, Inc. - Class A		11,700		673,569
Range Resources Corp. (a)		38,730		1,333,474
SM Energy Co. (a)		64,366		3,208,645
Southwestern Energy Co. (b)		596,300		4,519,954

				20,280,167


Paper & Forest Products—0.5%
Louisiana-Pacific Corp.		74,990		6,292,411


Personal Care Products—1.9%
BellRing Brands, Inc. (b)		132,625		7,828,854
Coty, Inc. - Class A (a) (b)		147,375		1,762,605
elf Beauty, Inc. (b)		50,400		9,879,912
Inter Parfums, Inc.		37,301		5,241,163

				24,712,534


Pharmaceuticals—1.4%
Amphastar Pharmaceuticals, Inc. (a) (b)		68,600		3,012,226
Arvinas, Inc. (a) (b)		46,254		1,909,365
Catalent, Inc. (b)		26,018		1,468,716
Intra-Cellular Therapies, Inc. (a) (b)		79,496		5,501,123
Pacira BioSciences, Inc. (b)		32,835		959,439
Pliant Therapeutics, Inc. (a) (b)		24,605		366,614
Prestige Consumer Healthcare, Inc. (b)		36,535		2,650,980
Supernus Pharmaceuticals, Inc. (a) (b)		48,192		1,643,829

				17,512,292


Professional Services—4.2%
ASGN, Inc. (b)		21,220		2,223,007
Booz Allen Hamilton Holding Corp.		61,599		9,143,756
Broadridge Financial Solutions, Inc. (a)		17,539		3,593,039
CACI International, Inc. - Class A (b)		23,167		8,776,355
CBIZ, Inc. (b)		93,264		7,321,224
ExlService Holdings, Inc. (a) (b)		226,120		7,190,616
FTI Consulting, Inc. (b)		28,766		6,049,202
Paylocity Holding Corp. (a) (b)		12,831		2,205,136
TriNet Group, Inc. (a)		22,800		3,020,772
Verra Mobility Corp. (a) (b)		160,400		4,005,188

				53,528,295


Residential REITs—0.2%
Equity LifeStyle Properties, Inc. (a)		32,019		2,062,024


Semiconductors & Semiconductor Equipment—4.5%
Astera Labs, Inc. (a) (b)		10,277		762,451
Axcelis Technologies, Inc. (a) (b)		52,330		5,835,842

Semiconductors & Semiconductor Equipment—(Continued)
Cirrus Logic, Inc. (b)		38,512		3,564,671
Diodes, Inc. (b)		66,466		4,685,853
Entegris, Inc. (a)		19,674		2,764,984
FormFactor, Inc. (b)		56,981		2,600,043
Kulicke & Soffa Industries, Inc. (a)		55,322		2,783,250
Lattice Semiconductor Corp. (a) (b)		59,002		4,615,726
MKS Instruments, Inc.		17,752		2,361,016
Monolithic Power Systems, Inc.		6,450		4,369,359
Onto Innovation, Inc. (b)		58,830		10,652,936
Photronics, Inc. (b)		84,500		2,393,040
Power Integrations, Inc. (a)		47,159		3,374,226
Rambus, Inc. (b)		112,793		6,971,735

				57,735,132


Software—10.0%
A10 Networks, Inc. (a)		124,626		1,706,130
ACI Worldwide, Inc. (a) (b)		71,434		2,372,323
Agilysys, Inc. (b)		46,300		3,901,238
Appfolio, Inc. - Class A (b)		20,400		5,033,496
Blackbaud, Inc. (a) (b)		42,700		3,165,778
Box, Inc. - Class A (a) (b)		99,231		2,810,222
Descartes Systems Group, Inc. (b)		97,328		8,908,432
DoubleVerify Holdings, Inc. (b)		148,440		5,219,150
Fair Isaac Corp. (b)		4,526		5,655,735
Fortinet, Inc. (b)		66,074		4,513,515
Informatica, Inc. - Class A (b)		134,400		4,704,000
Manhattan Associates, Inc. (a) (b)		25,337		6,340,078
MicroStrategy, Inc. - Class A (a) (b)		5,900		10,056,904
Nutanix, Inc. - Class A (b)		173,677		10,719,344
PowerSchool Holdings, Inc. - Class A (a) (b)		136,010		2,895,653
PTC, Inc. (b)		33,261		6,284,333
Q2 Holdings, Inc. (a) (b)		72,200		3,794,832
Qualys, Inc. (a) (b)		38,769		6,469,383
Rapid7, Inc. (a) (b)		54,949		2,694,699
Sapiens International Corp. NV		97,142		3,124,087
Smartsheet, Inc. - Class A (b)		108,431		4,174,594
SPS Commerce, Inc. (b)		45,737		8,456,771
Tenable Holdings, Inc. (a) (b)		98,668		4,877,159
Teradata Corp. (b)		41,582		1,607,976
Tyler Technologies, Inc. (b)		11,880		5,049,119
Workiva, Inc. (a) (b)		32,754		2,777,539

				127,312,490


Specialty Retail—3.3%
Abercrombie & Fitch Co. - Class A (b)		49,000		6,141,170
Academy Sports & Outdoors, Inc.		48,525		3,277,378
Asbury Automotive Group, Inc. (a) (b)		11,482		2,707,226
Carvana Co. (a) (b)		83,000		7,296,530
Dick’s Sporting Goods, Inc. (a)		24,458		5,499,626
Murphy USA, Inc.		26,520		11,117,184
Penske Automotive Group, Inc. (a)		21,735		3,520,853
Valvoline, Inc. (a) (b)		55,398		2,469,089

				42,029,056

BHFTII-254

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—(Continued)


Security Description	Shares/ Principal Amount*		Value

Technology Hardware, Storage & Peripherals—0.1%
Pure Storage, Inc. - Class A (b)		9,294	$	483,195
Super Micro Computer, Inc. (b)		1,192		1,203,956

				1,687,151


Textiles, Apparel & Luxury Goods—0.7%
Crocs, Inc. (b)		19,746		2,839,475
Deckers Outdoor Corp. (b)		7,021		6,608,586

				9,448,061


Trading Companies & Distributors—2.4%
Boise Cascade Co. (a)		22,800		3,496,836
Core & Main, Inc. - Class A (a) (b)		159,900		9,154,275
FTAI Aviation Ltd. (a)		89,700		6,036,810
Herc Holdings, Inc.		14,178		2,386,158
SiteOne Landscape Supply, Inc. (a) (b)		31,902		5,568,494
Watsco, Inc. (a)		9,232		3,987,947

				30,630,520

Total Common Stocks (Cost $892,026,610)				1,265,320,179


Escrow Shares—0.0%

Wireless Telecommunication Services—0.0%
GCI Liberty, Inc. (b) (c) (d) (Cost $0)		89,469		0


Short-Term Investment—0.5%

Mutual Funds—0.5%
T. Rowe Price Government Reserve Fund (e)		6,852,519		6,852,519

Total Short-Term Investments (Cost $6,852,519)				6,852,519


Securities Lending Reinvestments (f)—13.4%

Certificates of Deposit —2.9%
Bank of America Corp. 5.560%, SOFR + 0.230%, 07/08/24 (g)		1,000,000		1,000,400
Bank of Montreal 5.630%, SOFR + 0.300%, 03/04/25 (g)		2,000,000		1,999,997
Bank of Nova Scotia
5.630%, SOFR + 0.300%, 03/13/25 (g)		2,000,000		1,999,972
5.640%, SOFR + 0.310%, 03/19/25 (g)		1,000,000		999,990
Barclays Bank PLC 5.650%, SOFR + 0.320%, 06/20/24 (g)		2,000,000		2,001,012
Credit Industriel et Commercial Zero Coupon, 11/18/24		1,000,000		965,990
Mitsubishi UFJ Trust & Banking Corp.
Zero Coupon, 05/07/24		3,000,000		2,982,210
Zero Coupon, 05/09/24		1,000,000		993,770
Zero Coupon, 05/14/24		1,000,000		993,030

Certificates of Deposit —(Continued)
Mitsubishi UFJ Trust & Banking Corp.
Zero Coupon, 06/13/24		1,000,000		988,590
Mizuho Bank Ltd.
5.500%, SOFR + 0.170%, 08/06/24 (g)		2,000,000		2,000,208
5.730%, SOFR + 0.400%, 04/18/24 (g)		1,000,000		1,000,154
MUFG Bank Ltd. (London) 5.510%, SOFR + 0.200%, 09/23/24 (g)		1,000,000		1,000,000
Nordea Bank Abp 5.450%, SOFR + 0.120%, 07/15/24 (g)		2,000,000		1,999,872
Oversea-Chinese Banking Corp. Ltd. 5.500%, SOFR + 0.170%, 09/16/24 (g)		2,000,000		1,999,872
SMBC Bank International PLC
Zero Coupon, 05/07/24		5,000,000		4,970,350
Zero Coupon, 05/13/24		1,000,000		993,180
Standard Chartered Bank 5.720%, SOFR + 0.390%, 04/19/24 (g)		2,000,000		2,000,342
Sumitomo Mitsui Trust Bank Ltd.
Zero Coupon, 05/07/24		2,000,000		1,988,140
5.730%, SOFR + 0.400%, 04/24/24 (g)		2,000,000		2,000,432
Westpac Banking Corp. 5.880%, SOFR + 0.550%, 10/11/24 (g)		2,000,000		2,003,756

				36,881,267


Commercial Paper—0.9%
Australia & New Zealand Banking Group Ltd.
5.640%, 04/18/24		1,000,000		996,837
5.660%, SOFR + 0.330%, 04/18/24 (g)		1,000,000		1,000,098
ING U.S. Funding LLC 5.560%, SOFR + 0.230%, 11/20/24 (g)		3,000,000		2,999,988
Macquarie Bank Ltd. 5.420%, 08/12/24		2,000,000		1,959,880
Old Line Funding LLC
5.440%, SOFR + 0.110%, 06/07/24 (g)		2,000,000		1,999,996
5.450%, SOFR + 0.120%, 05/08/24 (g)		2,000,000		1,999,994

				10,956,793


Repurchase Agreements—7.9%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $14,106,404; collateralized by various Common Stock with an aggregate market value of $15,704,887.		14,100,000		14,100,000
Barclays Bank PLC
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $7,003,162; collateralized by various Common Stock with an aggregate market value of $7,800,025.		7,000,000		7,000,000
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $2,000,908; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $2,046,687.		2,000,000		2,000,000

BHFTII-255

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)


Security Description	Principal Amount*		Value

Repurchase Agreements—(Continued)
Citigroup Global Markets, Inc. Repurchase Agreement dated 03/29/24 at 5.870%, due on 09/30/24 with a maturity value of $4,120,661; collateralized by various Common Stock with an aggregate market value of $4,400,001.		4,000,000	$	4,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $9,086,676; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $9,264,318.		9,082,664		9,082,664
National Bank of Canada
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $24,025,434; collateralized by various Common Stock with an aggregate market value of $26,747,727.		24,000,000		24,000,000
Repurchase Agreement dated 03/29/24 at 5.470%, due on 04/01/24 with a maturity value of $8,003,647; collateralized by various Common Stock with an aggregate market value of $8,926,689.		8,000,000		8,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $14,006,393; collateralized by various Common Stock with an aggregate market value of $15,617,176.		14,000,000		14,000,000
Societe Generale
Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $5,002,258; collateralized by various Common Stock with an aggregate market value of $5,565,637.		5,000,000		5,000,000
Repurchase Agreement dated 03/29/24 at 5.440%, due on 04/01/24 with a maturity value of $400,181; collateralized by various Common Stock with an aggregate market value of $445,831.		400,000		400,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $13,005,872; collateralized by various Common Stock with an aggregate market value of $14,302,160.		13,000,000		13,000,000

				100,582,664


Time Deposits—0.8%
Banco Santander SA (NY) 5.310%, 04/01/24		5,000,000		5,000,000
DZ Bank AG (NY) 5.290%, 04/01/24		5,000,000		5,000,000

				10,000,000


Mutual Funds—0.9%
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (h)		7,000,000		7,000,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (h)		5,000,000		5,000,000

				12,000,000

Total Securities Lending Reinvestments (Cost $170,422,789)				170,420,724

Total Investments—113.1% (Cost $1,069,301,918)				1,442,593,422
Other assets and liabilities (net)—(13.1)%				(167,136,001	)

Net Assets—100.0%			$	1,275,457,421


*		Principal amount stated in U.S. dollars unless otherwise noted.
†		Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2024, the market value of restricted securities was $1,051,584, which is 0.1% of net assets. See details shown in the Restricted Securities table that follows.
(a)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $273,519,127 and the collateral received consisted of cash in the amount of $170,281,281 and non-cash collateral with a value of $110,375,635. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(b)		Non-income producing security.
(c)		Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent 0.1% of net assets.
(d)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(e)		Affiliated Issuer.
(f)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(g)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(h)		The rate shown represents the annualized seven-day yield as of March 31, 2024.

BHFTII-256

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)


Restricted Securities	Acquisition Date		Shares		Cost		Value
Avidity Biosciences, Inc.		02/29/24		43,375	$	715,687	$	1,051,584

Transactions in Securities of Affiliated Issuers

A summary of the Portfolio’s transactions in the securities of affiliated issuers for the period ended March 31, 2024 is as follows.


Security Description	Market Value December 31, 2023		Purchases		Sales			Ending Value as of March 31, 2024		Income earned from affiliates during the period
T. Rowe Price Government Reserve Fund	$	2,922,979	$	44,790,243	$	(40,860,703	)	$	6,852,519	$	103,080

Glossary of Abbreviations

Index Abbreviations


(SOFR)—		Secured Overnight Financing Rate

Other Abbreviations


(ADR)—		American Depositary Receipt
(REIT)—		Real Estate Investment Trust

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	28,132,860	$	—	$	—	$	28,132,860
Air Freight & Logistics		5,000,271		—		—		5,000,271
Automobile Components		5,872,505		—		—		5,872,505
Banks		6,554,600		—		—		6,554,600
Beverages		9,740,586		—		—		9,740,586
Biotechnology		118,354,386		1,051,584		—		119,405,970
Building Products		44,925,282		—		—		44,925,282
Capital Markets		22,872,569		—		—		22,872,569
Chemicals		18,766,236		—		—		18,766,236
Commercial Services & Supplies		23,422,848		—		—		23,422,848
Communications Equipment		839,881		—		—		839,881
Construction & Engineering		26,782,443		—		—		26,782,443
Construction Materials		10,536,291		—		—		10,536,291
Consumer Staples Distribution & Retail		10,325,574		—		—		10,325,574

BHFTII-257

Brighthouse Funds Trust II

T. Rowe Price Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy—(Continued)


Description	Level 1		Level 2			Level 3		Total
Containers & Packaging	$	3,496,173	$	—		$	—	$	3,496,173
Distributors		5,235,009		—			—		5,235,009
Diversified Consumer Services		17,547,746		—			—		17,547,746
Diversified Telecommunication Services		6,187,804		—			—		6,187,804
Electrical Equipment		16,617,066		—			—		16,617,066
Electronic Equipment, Instruments & Components		36,321,961		—			—		36,321,961
Energy Equipment & Services		30,227,179		—			—		30,227,179
Entertainment		9,466,563		—			—		9,466,563
Financial Services		16,159,809		—			—		16,159,809
Food Products		8,834,252		—			—		8,834,252
Ground Transportation		24,833,331		—			—		24,833,331
Health Care Equipment & Supplies		48,486,544		—			—		48,486,544
Health Care Providers & Services		60,123,423		—			—		60,123,423
Health Care Technology		2,405,212		—			—		2,405,212
Hotels, Restaurants & Leisure		66,474,100		—			—		66,474,100
Household Durables		30,868,113		—			—		30,868,113
Independent Power and Renewable Electricity Producers		2,764,955		—			—		2,764,955
Industrial REITs		7,148,849		—			—		7,148,849
Insurance		28,296,654		—			—		28,296,654
Interactive Media & Services		618,177		—			—		618,177
IT Services		5,928,686		—			—		5,928,686
Leisure Products		8,122,216		—			—		8,122,216
Life Sciences Tools & Services		32,654,427		—			—		32,654,427
Machinery		51,361,415		—			—		51,361,415
Media		8,238,521		—			—		8,238,521
Metals & Mining		10,493,945		—			—		10,493,945
Oil, Gas & Consumable Fuels		20,280,167		—			—		20,280,167
Paper & Forest Products		6,292,411		—			—		6,292,411
Personal Care Products		24,712,534		—			—		24,712,534
Pharmaceuticals		17,512,292		—			—		17,512,292
Professional Services		53,528,295		—			—		53,528,295
Residential REITs		2,062,024		—			—		2,062,024
Semiconductors & Semiconductor Equipment		57,735,132		—			—		57,735,132
Software		127,312,490		—			—		127,312,490
Specialty Retail		42,029,056		—			—		42,029,056
Technology Hardware, Storage & Peripherals		1,687,151		—			—		1,687,151
Textiles, Apparel & Luxury Goods		9,448,061		—			—		9,448,061
Trading Companies & Distributors		30,630,520		—			—		30,630,520
Total Common Stocks		1,264,268,595		1,051,584			—		1,265,320,179
Total Escrow Shares*		—		—			0		0
Total Short-Term Investment*		6,852,519		—			—		6,852,519
Securities Lending Reinvestments
Certificates of Deposit		—		36,881,267			—		36,881,267
Commercial Paper		—		10,956,793			—		10,956,793
Repurchase Agreements		—		100,582,664			—		100,582,664
Time Deposits		—		10,000,000			—		10,000,000
Mutual Funds		12,000,000		—			—		12,000,000
Total Securities Lending Reinvestments		12,000,000		158,420,724			—		170,420,724
Total Investments	$	1,283,121,114	$	159,472,308		$	0	$	1,442,593,422

Collateral for Securities Loaned (Liability)	$	—	$	(170,281,281	)	$	—	$	(170,281,281	)


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-258

Brighthouse Funds Trust II

VanEck Global Natural Resources Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Common Stocks—97.1% of Net Assets


Security Description	Shares		Value

Chemicals—9.3%
Arcadium Lithium PLC (a) (b)		1,664,247	$	7,172,905
CF Industries Holdings, Inc.		200,300		16,666,963
Corteva, Inc.		262,833		15,157,579
Mosaic Co.		266,900		8,663,574
Nutrien Ltd. (b)		250,823		13,622,197
OCI NV		611,957		16,748,326
Yara International ASA		99,700		3,158,974

				81,190,518


Construction & Engineering—0.5%
MasTec, Inc. (a) (b)		45,800		4,270,850


Containers & Packaging—1.1%
Graphic Packaging Holding Co. (b)		330,300		9,638,154


Electrical Equipment—2.2%
Array Technologies, Inc. (a) (b)		546,100		8,142,351
Nexans SA		100,170		10,458,434
Soltec Power Holdings SA (a) (b)		123,289		298,539

				18,899,324


Energy Equipment & Services—4.5%
Baker Hughes Co.		281,600		9,433,600
Saipem SpA (a)		4,401,900		10,758,527
Schlumberger NV		165,300		9,060,093
TechnipFMC PLC		415,300		10,428,183

				39,680,403


Food Products—8.8%
Archer-Daniels-Midland Co.		300,700		18,886,967
Bunge Global SA		114,100		11,697,532
Ingredion, Inc.		54,800		6,403,380
JBS SA		3,496,700		14,989,642
Pilgrim’s Pride Corp. (a)		536,000		18,395,520
Tyson Foods, Inc. - Class A		107,700		6,325,221

				76,698,262


Independent Power and Renewable Electricity Producers—1.2%
Ormat Technologies, Inc. (b)		166,100		10,994,159


Machinery—2.0%
Chart Industries, Inc. (a) (b)		104,520		17,216,534


Marine Transportation—2.0%
Kirby Corp. (a) (b)		182,931		17,436,983


Metals & Mining—27.4%
Agnico Eagle Mines Ltd. (b)		267,633		15,964,309
Alamos Gold, Inc. - Class A (b)		724,800		10,690,800
Antofagasta PLC		176,900		4,566,662
Barrick Gold Corp.		684,435		11,388,998
Eldorado Gold Corp. (a)		528,300		7,433,181
Endeavour Mining PLC (b)		461,300		9,372,099
First Quantum Minerals Ltd. (b)		505,200		5,430,373
Franco-Nevada Corp.		98,200		11,701,512

Metals & Mining —(Continued)
Freeport-McMoRan, Inc.		661,700		31,113,134
Glencore PLC		3,526,100		19,398,661
Ivanhoe Mines Ltd. - Class A (a) (b)		1,353,200		16,143,894
Kinross Gold Corp.		2,257,600		13,839,088
MP Materials Corp. (a) (b)		732,985		10,481,686
Newmont Corp. (b)		344,217		12,336,737
Nouveau Monde Graphite, Inc. (a) (b)		147,808		338,480
Nucor Corp.		43,100		8,529,490
Pan American Silver Corp. (b)		541,000		8,158,280
Rio Tinto PLC (ADR) (b)		222,200		14,163,028
Steel Dynamics, Inc. (b)		30,500		4,521,015
Talon Metals Corp. (a)		3,503,600		349,183
Teck Resources Ltd. - Class B		196,900		9,014,082
Vale SA (ADR) (b)		1,192,100		14,531,699

				239,466,391


Mortgage Real Estate Investment Trusts—2.0%
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (b)		626,590		17,795,156


Oil, Gas & Consumable Fuels—36.1%
Antero Resources Corp. (a) (b)		343,500		9,961,500
BP PLC (ADR)		571,400		21,530,352
Cenovus Energy, Inc.		353,700		7,070,463
Chesapeake Energy Corp. (b)		158,400		14,070,672
Chevron Corp. (b)		55,900		8,817,666
ConocoPhillips		145,222		18,483,856
Diamondback Energy, Inc. (b)		96,606		19,144,411
Eni SpA		518,300		8,217,663
EQT Corp. (b)		408,900		15,157,923
Equinor ASA (ADR)		153,000		4,135,590
Excelerate Energy, Inc. - Class A (b)		74,567		1,194,563
Exxon Mobil Corp.		244,200		28,385,808
Hess Corp.		29,900		4,563,936
Kosmos Energy Ltd. (a) (b)		1,256,900		7,491,124
Marathon Oil Corp.		210,700		5,971,238
PBF Energy, Inc. - Class A		83,200		4,789,824
Permian Resources Corp. (b)		761,970		13,456,390
PetroChina Co. Ltd. - Class H		25,840,000		22,102,964
Pioneer Natural Resources Co.		41,087		10,785,338
Repsol SA		261,800		4,369,623
Shell PLC (ADR) (b)		424,300		28,445,072
Suncor Energy, Inc. (b)		244,000		9,004,880
TotalEnergies SE		260,500		17,911,981
Valero Energy Corp. (b)		182,500		31,150,925

				316,213,762

Total Common Stocks (Cost $745,915,368)				849,500,496


Short-Term Investment—2.7%

Mutual Funds—2.7%
Invesco STIC Prime Portfolio, Institutional Class, 5.260% (c)		23,970,005		23,972,402

Total Short-Term Investments (Cost $23,972,023)				23,972,402

BHFTII-259

Brighthouse Funds Trust II

VanEck Global Natural Resources Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (d)—19.8%


Security Description	Principal Amount*		Value

Certificates of Deposit—3.9%
Bank of America Corp. 5.560%, SOFR + 0.230%, 07/08/24 (e)		1,000,000	$	1,000,400
Barclays Bank PLC 5.650%, SOFR + 0.320%, 06/20/24 (e)		3,000,000		3,001,518
BNP Paribas SA 5.690%, SOFR + 0.360%, 04/10/24 (e)		2,000,000		2,000,154
Credit Industriel et Commercial Zero Coupon, 11/18/24		1,000,000		965,990
Mitsubishi UFJ Trust & Banking Corp.
Zero Coupon, 05/14/24		1,000,000		993,030
5.560%, SOFR + 0.240%, 07/11/24 (e)		1,000,000		999,988
Mizuho Bank Ltd.
5.500%, SOFR + 0.170%, 08/06/24 (e)		1,000,000		1,000,104
5.730%, SOFR + 0.400%, 04/18/24 (e)		3,000,000		3,000,462
MUFG Bank Ltd. (London)
Zero Coupon, 06/10/24		1,000,000		989,040
5.510%, SOFR + 0.200%, 09/23/24 (e)		1,000,000		1,000,000
National Westminster Bank PLC 5.880%, 05/02/24		3,000,000		3,001,470
Nordea Bank Abp 5.450%, SOFR + 0.120%, 07/15/24 (e)		2,000,000		1,999,872
Oversea-Chinese Banking Corp. Ltd. 5.500%, SOFR + 0.170%, 09/16/24 (e)		2,000,000		1,999,872
Royal Bank of Canada 5.880%, FEDEFF PRV + 0.550%, 09/20/24 (e)		3,000,000		3,005,898
SMBC Bank International PLC Zero Coupon, 05/13/24		1,000,000		993,180
Standard Chartered Bank 5.720%, SOFR + 0.390%, 04/19/24 (e)		2,000,000		2,000,342
Sumitomo Mitsui Trust Bank Ltd. 5.730%, SOFR + 0.400%, 04/24/24 (e)		3,000,000		3,000,648
Westpac Banking Corp. 5.880%, SOFR + 0.550%, 10/11/24 (e)		3,000,000		3,005,634

				33,957,602


Commercial Paper—1.3%
Australia & New Zealand Banking Group Ltd.
5.640%, 04/18/24		2,000,000		1,993,674
5.660%, SOFR + 0.330% , 04/18/24 (e)		2,000,000		2,000,196
Ciesco LLC 5.340%, 04/01/24		2,000,000		1,998,792
ING U.S. Funding LLC 5.560%, SOFR + 0.230%, 11/20/24 (e)		3,000,000		2,999,988
Macquarie Bank Ltd. 5.420%, 08/12/24		2,000,000		1,959,880

				10,952,530


Repurchase Agreements—11.7%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $10,404,723; collateralized by various Common Stock with an aggregate market value of $11,583,747.		10,400,000		10,400,000

Repurchase Agreements—(Continued)
Barclays Bank PLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $6,002,710; collateralized by various Common Stock with an aggregate market value of $6,685,736.		6,000,000		6,000,000
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/24 at 5.620%, due on 05/03/24 with a maturity value of $5,027,319; collateralized by various Common Stock with an aggregate market value of $5,500,000.		5,000,000		5,000,000
Repurchase Agreement dated 03/29/24 at 5.870%, due on 09/30/24 with a maturity value of $5,150,826; collateralized by various Common Stock with an aggregate market value of $5,500,002.		5,000,000		5,000,000
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $17,935,481; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24 - 05/15/50, and an aggregate market value of $18,286,114.		17,927,563		17,927,563
National Bank of Canada
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $20,021,194; collateralized by various Common Stock with an aggregate market value of $22,282,772.		20,000,000		20,000,000
Repurchase Agreement dated 03/29/24 at 5.470%, due on 04/01/24 with a maturity value of $12,005,470; collateralized by various Common Stock with an aggregate market value of $13,379,910.		12,000,000		12,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $20,609,407; collateralized by various Common Stock with an aggregate market value of $22,979,559.		20,600,000		20,600,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $5,002,258; collateralized by various Common Stock with an aggregate market value of $5,500,828.		5,000,000		5,000,000

				101,927,563


Time Deposits—1.8%
Banco Santander SA (NY) 5.310%, 04/01/24		7,000,000		7,000,000
Credit Agricole Corporate & Investment Bank (NY) 5.300%, 04/01/24		2,000,000		2,000,000
DZ Bank AG (NY) 5.290%, 04/01/24		7,000,000		7,000,000

				16,000,000


Mutual Funds—1.1%
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (c)		5,000,000		5,000,000

BHFTII-260

Brighthouse Funds Trust II

VanEck Global Natural Resources Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)


Security Description	Shares		Value

Mutual Funds—(Continued)
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.260% (c)		5,000,000	$	5,000,000

				10,000,000

Total Securities Lending Reinvestments (Cost $172,825,227)				172,837,695

Total Investments—119.6% (Cost $942,712,618)				1,046,310,593
Other assets and liabilities (net)—(19.6)%				(171,465,497	)

Net Assets—100.0%			$	874,845,096


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Non-income producing security.
(b)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $212,029,002 and the collateral received consisted of cash in the amount of $172,732,428 and non-cash collateral with a value of $44,103,563. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(c)		The rate shown represents the annualized seven-day yield as of March 31, 2024.
(d)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(e)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. 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.

Glossary of Abbreviations

Index Abbreviations


(FEDEFF PRV)—		Effective Federal Funds Rate
(SOFR)—		Secured Overnight Financing Rate

Other Abbreviations


(ADR)—		American Depositary Receipt

BHFTII-261

Brighthouse Funds Trust II

VanEck Global Natural Resources Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2			Level 3		Total
Common Stocks
Chemicals	$	61,283,218	$	19,907,300		$	—	$	81,190,518
Construction & Engineering		4,270,850		—			—		4,270,850
Containers & Packaging		9,638,154		—			—		9,638,154
Electrical Equipment		8,142,351		10,756,973			—		18,899,324
Energy Equipment & Services		28,921,876		10,758,527			—		39,680,403
Food Products		76,698,262		—			—		76,698,262
Independent Power and Renewable Electricity Producers		10,994,159		—			—		10,994,159
Machinery		17,216,534		—			—		17,216,534
Marine Transportation		17,436,983		—			—		17,436,983
Metals & Mining		215,501,068		23,965,323			—		239,466,391
Mortgage Real Estate Investment Trusts		17,795,156		—			—		17,795,156
Oil, Gas & Consumable Fuels		263,611,531		52,602,231			—		316,213,762
Total Common Stocks		731,510,142		117,990,354			—		849,500,496
Total Short-Term Investment*		23,972,402		—			—		23,972,402
Securities Lending Reinvestments
Certificates of Deposit		—		33,957,602			—		33,957,602
Commercial Paper		—		10,952,530			—		10,952,530
Repurchase Agreements		—		101,927,563			—		101,927,563
Time Deposits		—		16,000,000			—		16,000,000
Mutual Funds		10,000,000		—			—		10,000,000
Total Securities Lending Reinvestments		10,000,000		162,837,695			—		172,837,695
Total Investments	$	765,482,544	$	280,828,049		$	—	$	1,046,310,593

Collateral for Securities Loaned (Liability)	$	—	$	(172,732,428	)	$	—	$	(172,732,428	)


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-262

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—50.9% of Net Assets


Security Description	Principal Amount*		Value

Aerospace/Defense—1.1%
Bombardier, Inc. 7.875%, 04/15/27 (144A) (a)		5,305,000	$	5,308,708
TransDigm, Inc. 6.375%, 03/01/29 (144A)		1,290,000		1,294,016
6.625%, 03/01/32 (144A)		10,020,000		10,123,116
7.125%, 12/01/31 (144A)		2,460,000		2,535,172
Triumph Group, Inc. 9.000%, 03/15/28 (144A) (a)		5,305,000		5,592,701

				24,853,713


Agriculture—0.2%
Altria Group, Inc. 2.450%, 02/04/32		530,000		430,080
5.950%, 02/14/49 (a)		529,000		538,379
Darling Ingredients, Inc. 6.000%, 06/15/30 (144A) (a)		3,030,000		3,002,740

				3,971,199


Airlines—1.7%
Air Canada 3.875%, 08/15/26 (144A) (a)		6,033,000		5,758,021
Air Canada Pass-Through Trust 4.125%, 11/15/26 (144A)		431,522		421,825
American Airlines Pass-Through Trust 4.950%, 08/15/26		1,765,838		1,740,534
American Airlines, Inc. 7.250%, 02/15/28 (144A) (a)		3,420,000		3,473,126
8.500%, 05/15/29 (144A)		2,950,000		3,116,548
American Airlines, Inc./AAdvantage Loyalty IP Ltd. 5.500%, 04/20/26 (144A) (a)		5,010,000		4,975,881
5.750%, 04/20/29 (144A)		2,590,000		2,545,854
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. 8.000%, 09/20/25 (144A) (a)		9,375,999		7,117,557
United Airlines Pass-Through Trust 4.875%, 07/15/27		417,000		410,297
United Airlines, Inc. 4.625%, 04/15/29 (144A) (a)		2,590,000		2,408,700
VistaJet Malta Finance PLC/Vista Management Holding, Inc. 7.875%, 05/01/27 (144A) (a)		4,820,000		4,074,944
9.500%, 06/01/28 (144A) (a)		823,000		699,808

				36,743,095


Auto Manufacturers—1.9%
Ford Motor Co. 3.250%, 02/12/32 (a)		11,420,000		9,499,218
5.291%, 12/08/46		1,000,000		889,070
Ford Motor Credit Co. LLC 3.625%, 06/17/31 (a)		5,930,000		5,127,422
General Motors Co. 6.600%, 04/01/36 (a)		2,564,000		2,725,677
JB Poindexter & Co., Inc. 8.750%, 12/15/31 (144A) (a)		2,410,000		2,491,051
Mclaren Finance PLC 7.500%, 08/01/26 (144A)		8,600,000		7,589,500

Auto Manufacturers—(Continued)
PM General Purchaser LLC 9.500%, 10/01/28 (144A) † (a)		13,345,000		13,621,202

				41,943,140


Auto Parts & Equipment—0.5%
Titan International, Inc. 7.000%, 04/30/28 (a)		8,391,000		8,279,976
ZF North America Capital, Inc. 4.750%, 04/29/25 (144A)		2,455,000		2,424,545
7.125%, 04/14/30 (144A)		950,000		1,001,031

				11,705,552


Banks—4.7%
Banco Mercantil del Norte SA 7.625%, 10Y H15 + 5.353%, 01/10/28 (144A) (b)		2,150,000		2,147,424
Bank of Nova Scotia 8.000%, 5Y H15 + 4.017%, 01/27/84 (b)		4,760,000		4,843,671
8.625%, 5Y H15 + 4.389%, 10/27/82 (b)		900,000		937,081
Barclays PLC 8.000%, 5Y H15 + 5.672%, 06/15/24 (b)		5,160,000		5,146,473
BBVA Bancomer SA 5.125%, 5Y H15 + 2.650%, 01/18/33 (144A) (b)		5,980,000		5,557,601
BNP Paribas SA 7.750%, 5Y H15 + 4.899%, 08/16/29 (144A) (b)		1,930,000		1,975,708
8.000%, 5Y H15 + 3.727%, 08/22/31 (144A) (a) (b)		1,520,000		1,551,358
Citigroup, Inc. 4.000%, 5Y H15 + 3.597%, 12/10/25 (b)		3,890,000		3,729,523
Credit Agricole SA 8.125%, 5Y USD Swap + 6.185%, 12/23/25 (144A) (b)		8,970,000		9,149,400
Credit Suisse AG 3.625%, 09/09/24		1,530,000		1,515,660
4.750%, 08/09/24		2,700,000		2,690,141
Danske Bank AS 6.466%, 1Y H15 + 2.100%, 01/09/26 (144A) (b)		6,450,000		6,473,420
HSBC Holdings PLC 6.000%, 5Y USD ICE Swap + 3.746%, 05/22/27 (b)		390,000		375,402
6.500%, 5Y USD ICE Swap + 3.606%, 03/23/28 (b)		670,000		655,696
Intesa Sanpaolo SpA 5.710%, 01/15/26 (144A) (a)		3,090,000		3,063,140
7.800%, 11/28/53 (144A) †		8,480,000		9,621,055
Lloyds Banking Group PLC 7.500%, 5Y USD Swap + 4.760%, 06/27/24 (b)		3,580,000		3,558,476
8.000%, 5Y H15 + 3.913%, 09/27/29 (b)		3,260,000		3,282,383
8.500%, 5Y UKG + 5.143%, 03/27/28 (GBP) (b)		4,580,000		5,888,016
NatWest Group PLC 4.500%, 5Y UKG + 3.992%, 03/31/28 (GBP) (b)		6,600,000		7,138,972
PNC Financial Services Group, Inc. 5.068%, SOFR + 1.933%, 01/24/34 (a) (b)		570,000		552,160
6.037%, SOFR + 2.140%, 10/28/33 (b)		115,000		118,897
State Street Corp. 6.700%, 5Y H15 + 2.613%, 03/15/29 (b)		2,230,000		2,262,830
Toronto-Dominion Bank 8.125%, 5Y H15 + 4.075%, 10/31/82 (b)		3,122,000		3,274,519
Truist Financial Corp. 5.122%, SOFR + 1.852%, 01/26/34 (b)		190,000		182,880

BHFTII-263

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Banks—(Continued)
U.S. Bancorp 4.839%, SOFR + 1.600%, 02/01/34 (b)		270,000	$	256,381
UBS Group AG 7.750%, 5Y USD SOFR ICE Swap + 4.160%, 04/12/31 (144A) (a) (b)		6,100,000		6,273,661
9.250%, 5Y H15 + 4.745%, 11/13/28 (144A) (a) (b)		4,090,000		4,431,413
UniCredit SpA 5.459%, 5Y H15 + 4.750%, 06/30/35 (144A) (b)		4,960,000		4,657,707
7.296%, 5Y USD ICE Swap + 4.914%, 04/02/34 (144A) (a) (b)		1,750,000		1,798,534

				103,109,582


Biotechnology—0.2%
Cidron Aida Finco SARL 6.250%, 04/01/28 (144A) (GBP)		4,110,000		4,966,534


Building Materials—0.5%
Builders FirstSource, Inc. 4.250%, 02/01/32 (144A) (a)		2,644,000		2,371,324
Smyrna Ready Mix Concrete LLC 8.875%, 11/15/31 (144A) (a)		8,300,000		8,871,795

				11,243,119


Chemicals—0.1%
Minerals Technologies, Inc. 5.000%, 07/01/28 (144A) (a)		1,690,000		1,615,894


Coal—0.1%
Teck Resources Ltd. 6.000%, 08/15/40 (a)		1,774,000		1,779,770


Commercial Services—2.4%
Adtalem Global Education, Inc. 5.500%, 03/01/28 (144A) (a)		2,601,000		2,489,996
Allied Universal Holdco LLC/Allied Universal Finance Corp. 6.625%, 07/15/26 (144A) (a)		3,050,000		3,047,995
Boost Newco Borrower LLC 7.500%, 01/15/31 (144A) (a)		5,740,000		6,008,707
Carriage Services, Inc. 4.250%, 05/15/29 (144A) (a)		5,050,000		4,477,828
CoreCivic, Inc. 4.750%, 10/15/27		3,330,000		3,151,117
8.250%, 04/15/29 (a)		2,870,000		3,001,963
GEO Group, Inc. 10.500%, 06/30/28 (a)		5,880,000		5,990,250
Legends Hospitality Holding Co. LLC/Legends Hospitality Co-Issuer Inc. 5.000%, 02/01/26 (144A) (a)		5,480,000		5,429,016
Metropolitan Museum of Art 3.400%, 07/01/45		2,025,000		1,577,251
PECF USS Intermediate Holding III Corp. 8.000%, 11/15/29 (144A)		5,656,000		2,970,599
RR Donnelley & Sons Co. 9.750%, 07/31/28 (144A)		1,740,000		1,885,081

Commercial Services—(Continued)
StoneMor, Inc. 8.500%, 05/15/29 (144A)		2,873,000		1,982,679
United Rentals North America, Inc. 5.250%, 01/15/30 (a)		4,000,000		3,901,651
6.000%, 12/15/29 (144A) (a)		1,760,000		1,771,662
WW International, Inc. 4.500%, 04/15/29 (144A)		3,190,000		1,259,792
ZipRecruiter, Inc. 5.000%, 01/15/30 (144A) (a)		3,350,000		2,950,428

				51,896,015


Computers—0.2%
Crowdstrike Holdings, Inc. 3.000%, 02/15/29 (a)		2,405,000		2,132,916
Vericast Corp. 11.000%, 09/15/26 (144A) (a)		1,800,000		1,919,250
12.500%, 12/15/27 (144A)		230,000		262,200

				4,314,366


Distribution/Wholesale—0.8%
American News Co. LLC 8.500%, 10.000% PIK, 09/01/26 (144A) † (a) (c)		12,120,929		13,514,836
H&E Equipment Services, Inc. 3.875%, 12/15/28 (144A) (a)		3,480,000		3,185,882

				16,700,718


Diversified Financial Services—2.6%
Accelerate360 Holdings LLC 8.000%, 03/01/28 (144A)		10,418,100		10,808,779
AerCap Holdings NV 5.875%, 5Y H15 + 4.535%, 10/10/79 (b)		1,280,000		1,270,825
Aviation Capital Group LLC 5.500%, 12/15/24 (144A)		1,760,000		1,753,291
Avolon Holdings Funding Ltd. 4.250%, 04/15/26 (144A)		1,950,000		1,881,988
B3 SA - Brasil Bolsa Balcao 4.125%, 09/20/31 (144A) (a)		4,000,000		3,508,526
Burford Capital Global Finance LLC 6.250%, 04/15/28 (144A)		720,000		701,263
9.250%, 07/01/31 (144A) (a)		4,600,000		4,868,566
Charles Schwab Corp. 2.900%, 03/03/32		520,000		445,860
5.853%, SOFR + 2.500%, 05/19/34 (a) (b)		1,370,000		1,402,945
Global Aircraft Leasing Co. Ltd. 6.500%, 7.250% PIK, 09/15/24 (144A) (c)		8,747,201		8,319,712
LPL Holdings, Inc. 4.000%, 03/15/29 (144A)		3,910,000		3,594,851
Midcap Financial Issuer Trust 6.500%, 05/01/28 (144A) (a)		4,665,000		4,303,497
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc. 3.625%, 03/01/29 (144A) (a)		8,350,000		7,511,206
StoneX Group, Inc. 7.875%, 03/01/31 (144A) (a)		2,390,000		2,424,765

BHFTII-264

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Diversified Financial Services—(Continued)
Vanguard Group, Inc. 3.050%, 08/28/50 (d) (e)		7,460,000	$	4,744,648

				57,540,722


Electric—0.9%
Edison International 5.375%, 5Y H15 + 4.698%, 03/15/26 (b)		3,101,000		3,000,801
FirstEnergy Corp. 2.650%, 03/01/30 (a)		1,830,000		1,573,105
4.150%, 07/15/27		1,640,000		1,572,908
NSG Holdings LLC/NSG Holdings, Inc. 7.750%, 12/15/25 (144A)		130,779		129,471
Panoche Energy Center LLC 6.885%, 07/31/29 (144A)		380,339		366,076
Southern California Edison Co. 3.900%, 03/15/43		1,217,000		977,637
TransAlta Corp. 6.500%, 03/15/40 (a)		8,869,000		8,841,453
7.750%, 11/15/29 (a)		2,820,000		2,931,359

				19,392,810


Energy-Alternate Sources—0.2%
Alta Wind Holdings LLC 7.000%, 06/30/35 (144A)		750,315		763,587
Sunnova Energy Corp. 5.875%, 09/01/26 (144A)		4,460,000		3,472,113

				4,235,700


Engineering & Construction—0.7%
Gatwick Airport Finance PLC 4.375%, 04/07/26 (GBP)		5,030,000		6,101,767
TopBuild Corp. 3.625%, 03/15/29 (144A) (a)		3,960,000		3,597,281
4.125%, 02/15/32 (144A)		320,000		283,261
Tutor Perini Corp. 6.875%, 05/01/25 (144A)		5,733,000		5,674,291

				15,656,600


Entertainment—1.2%
Allen Media LLC/Allen Media Co-Issuer Inc. 10.500%, 02/15/28 (144A)		3,590,000		1,663,982
AMC Entertainment Holdings, Inc. 7.500%, 02/15/29 (144A)		2,390,000		1,596,355
Banijay Entertainment SASU 8.125%, 05/01/29 (144A) (a)		1,340,000		1,382,063
Boyne USA, Inc. 4.750%, 05/15/29 (144A) (a)		2,500,000		2,317,430
Caesars Entertainment, Inc. 6.500%, 02/15/32 (144A) (a)		8,580,000		8,655,555
7.000%, 02/15/30 (144A)		30,000		30,795
Mohegan Tribal Gaming Authority 8.000%, 02/01/26 (144A) (a)		4,972,000		4,865,152
13.250%, 12/15/27 (144A)		450,000		491,062

Entertainment—(Continued)
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. 7.125%, 02/15/31 (144A) (a)		6,100,000		6,312,866

				27,315,260


Environmental Control—0.6%
Clean Harbors, Inc. 5.125%, 07/15/29 (144A) (a)		2,528,000		2,430,010
GFL Environmental, Inc. 4.750%, 06/15/29 (144A) (a)		7,457,000		7,012,859
6.750%, 01/15/31 (144A) (a)		3,230,000		3,310,146

				12,753,015


Food—0.1%
Co-operative Bank Holdings Ltd. 7.500%, 07/08/26 (GBP) (f)		2,410,000		3,018,917


Food Service—0.1%
TKC Holdings, Inc. 6.875%, 05/15/28 (144A)		2,530,000		2,401,415


Forest Products & Paper—0.2%
Suzano Austria GmbH 3.125%, 01/15/32		3,010,000		2,500,511
5.750%, 07/14/26		1,200,000		1,199,520

				3,700,031


Healthcare-Products—0.4%
Medline Borrower LP 5.250%, 10/01/29 (144A) (a)		6,700,000		6,332,629
Medline Borrower LP/Medline Co-Issuer Inc. 6.250%, 04/01/29 (144A) (a)		2,790,000		2,802,493

				9,135,122


Healthcare-Services—1.5%
Akumin, Inc. 9.000%, 2.000% PIK, 08/01/27 (144A) (c)		5,802,000		5,043,853
CHS/Community Health Systems, Inc. 5.625%, 03/15/27 (144A) (a)		4,880,000		4,491,552
6.000%, 01/15/29 (144A) (a)		6,450,000		5,634,708
6.125%, 04/01/30 (144A)		7,130,000		5,141,540
10.875%, 01/15/32 (144A) (a)		3,110,000		3,203,365
Fresenius Medical Care U.S. Finance II, Inc. 4.750%, 10/15/24 (144A)		700,000		694,020
HCA, Inc. 5.500%, 06/15/47		360,000		342,226
7.500%, 11/06/33		1,938,000		2,167,859
LifePoint Health, Inc. 9.875%, 08/15/30 (144A) (a)		5,190,000		5,428,958
U.S. Renal Care, Inc. 10.625%, 06/28/28 (144A)		1,375,850		1,196,990

				33,345,071

BHFTII-265

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Holding Companies-Diversified—0.2%
Stena International SA 7.250%, 01/15/31 (144A)		3,506,000	$	3,497,070


Home Builders—0.3%
MDC Holdings, Inc. 6.000%, 01/15/43		1,195,000		1,213,964
Winnebago Industries, Inc. 6.250%, 07/15/28 (144A)		5,914,000		5,854,649

				7,068,613


Housewares—0.2%
Newell Brands, Inc. 5.700%, 04/01/26 (a)		4,350,000		4,272,454
6.375%, 09/15/27 (a)		590,000		580,205

				4,852,659


Insurance—0.9%
Highlands Holdings Bond Issuer Ltd./Highlands Holdings Bond Co-Issuer Inc. 7.625%, 8.375% PIK, 10/15/25 (144A) (c)		4,264,896		4,214,158
Massachusetts Mutual Life Insurance Co. 4.900%, 04/01/77 (144A)		6,285,000		5,280,725
NMI Holdings, Inc. 7.375%, 06/01/25 (144A)		3,380,000		3,413,895
Saga PLC 5.500%, 07/15/26 (GBP)		5,800,000		6,548,525

				19,457,303


Internet—0.6%
Acuris Finance U.S., Inc./Acuris Finance SARL 5.000%, 05/01/28 (144A) (a)		2,900,000		2,635,059
Gen Digital, Inc. 7.125%, 09/30/30 (144A) (a)		5,110,000		5,250,213
Ziff Davis, Inc. 4.625%, 10/15/30 (144A) (a)		5,586,000		5,035,739

				12,921,011


Iron/Steel—0.2%
Vale Overseas Ltd. 6.250%, 08/10/26 (a)		2,990,000		3,036,468
6.875%, 11/10/39 (a)		1,180,000		1,261,794

				4,298,262


Leisure Time—2.0%
Carnival Corp. 4.000%, 08/01/28 (144A)		2,140,000		1,993,399
5.750%, 03/01/27 (144A) (a)		6,090,000		6,027,489
10.500%, 06/01/30 (144A)		210,000		229,690
Carnival Holdings Bermuda Ltd. 10.375%, 05/01/28 (144A)		6,010,000		6,556,063
NCL Corp. Ltd. 5.875%, 03/15/26 (144A) (a)		5,670,000		5,597,145
8.125%, 01/15/29 (144A) (a)		1,790,000		1,894,151

Leisure Time—(Continued)
Royal Caribbean Cruises Ltd. 4.250%, 07/01/26 (144A) (a)		4,630,000		4,468,152
6.250%, 03/15/32 (144A) (a)		1,490,000		1,501,860
8.250%, 01/15/29 (144A)		1,340,000		1,418,579
9.250%, 01/15/29 (144A) (a)		2,010,000		2,155,856
Viking Cruises Ltd. 5.875%, 09/15/27 (144A)		2,700,000		2,649,010
9.125%, 07/15/31 (144A) (a)		5,680,000		6,211,712
VOC Escrow Ltd. 5.000%, 02/15/28 (144A) (a)		3,420,000		3,290,328

				43,993,434


Lodging—1.0%
Full House Resorts, Inc. 8.250%, 02/15/28 (144A)		5,025,000		4,802,088
Melco Resorts Finance Ltd. 4.875%, 06/06/25 (144A)		940,000		917,380
5.375%, 12/04/29 (144A) (a)		4,630,000		4,223,254
Sands China Ltd. 2.300%, 03/08/27		200,000		181,138
2.850%, 03/08/29		1,240,000		1,077,763
3.250%, 08/08/31		470,000		393,233
5.125%, 08/08/25		4,610,000		4,547,735
5.400%, 08/08/28		1,240,000		1,216,083
Wynn Macau Ltd. 4.875%, 10/01/24 (144A)		5,420,000		5,356,410

				22,715,084


Machinery-Construction & Mining—0.2%
Vertiv Group Corp. 4.125%, 11/15/28 (144A) (a)		4,110,000		3,824,116


Machinery-Diversified—0.2%
Esab Corp. 6.250%, 04/15/29 (144A)		3,050,000		3,064,283
TK Elevator U.S. Newco, Inc. 5.250%, 07/15/27 (144A) (a)		1,940,000		1,874,214

				4,938,497


Media—2.7%
Altice Financing SA 5.750%, 08/15/29 (144A)		5,100,000		4,086,331
CCO Holdings LLC/CCO Holdings Capital Corp. 4.250%, 02/01/31 (144A) (a)		4,630,000		3,781,089
Charter Communications Operating LLC/Charter Communications Operating Capital 4.400%, 04/01/33		1,260,000		1,116,631
5.375%, 04/01/38		1,580,000		1,372,523
CSC Holdings LLC 4.125%, 12/01/30 (144A) (a)		4,370,000		3,124,769
5.375%, 02/01/28 (144A) (a)		2,880,000		2,477,153
6.500%, 02/01/29 (144A)		2,530,000		2,143,696
7.500%, 04/01/28 (144A) (a)		7,830,000		5,277,820
11.250%, 05/15/28 (144A) (a)		4,860,000		4,815,983
11.750%, 01/31/29 (144A) (a)		6,010,000		6,019,373

BHFTII-266

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Media—(Continued)
Directv Financing LLC 8.875%, 02/01/30 (144A) (a)		2,440,000	$	2,434,107
Directv Financing LLC/Directv Financing Co.-Obligor, Inc. 5.875%, 08/15/27 (144A) (a)		1,570,000		1,485,277
DISH DBS Corp. 5.250%, 12/01/26 (144A)		140,000		110,237
5.750%, 12/01/28 (144A)		4,330,000		2,975,814
5.875%, 11/15/24 (a)		3,000,000		2,874,374
DISH Network Corp. 11.750%, 11/15/27 (144A)		4,260,000		4,349,166
Gannett Holdings LLC 6.000%, 11/01/26 (144A)		600,000		548,700
iHeartCommunications, Inc. 6.375%, 05/01/26		900,000		767,778
McClatchy Co. LLC 11.000%, 12.500% PIK, 07/15/27 (144A) (c)		3,070,666		3,350,864
Nexstar Media, Inc. 5.625%, 07/15/27 (144A)		2,960,000		2,839,587
Time Warner Cable LLC 5.875%, 11/15/40		2,362,000		2,046,014

				57,997,286


Metal Fabricate/Hardware—0.3%
Advanced Drainage Systems, Inc. 5.000%, 09/30/27 (144A) (a)		490,000		475,350
6.375%, 06/15/30 (144A) (a)		3,330,000		3,347,233
Park-Ohio Industries, Inc. 6.625%, 04/15/27		2,977,000		2,785,336

				6,607,919


Mining—1.7%
First Quantum Minerals Ltd. 6.875%, 10/15/27 (144A) (a)		6,450,000		6,184,034
9.375%, 03/01/29 (144A) (a)		6,620,000		6,857,757
Freeport Minerals Corp. 7.125%, 11/01/27		4,240,000		4,409,600
Freeport-McMoRan, Inc. 5.450%, 03/15/43 (a)		14,801,000		14,170,023
Glencore Finance Canada Ltd. 5.550%, 10/25/42 (144A) (a)		1,000,000		963,858
Hudbay Minerals, Inc. 4.500%, 04/01/26 (144A) (a)		2,660,000		2,576,576
6.125%, 04/01/29 (144A) (a)		2,854,000		2,821,198
Midwest Vanadium Pty, Ltd. 13.250%, 02/15/18 (144A) † (d) (e) (g)		931,574		0
Northwest Acquisitions ULC/Dominion Finco, Inc. 7.125%, 11/01/22 (144A) † (g)		8,475,000		85

				37,983,131


Multi-National—0.5%
Inter-American Development Bank 7.350%, 10/06/30 (INR)		876,000,000		10,690,923


Office/Business Equipment—0.1%
CDW LLC/CDW Finance Corp. 3.250%, 02/15/29 (a)		1,610,000		1,457,712


Oil & Gas—6.9%
Berry Petroleum Co. LLC 7.000%, 02/15/26 (144A)		8,640,000		8,528,908
Chord Energy Corp. 6.375%, 06/01/26 (144A)		6,890,000		6,918,738
Continental Resources, Inc. 5.750%, 01/15/31 (144A) (a)		3,630,000		3,608,378
Crescent Energy Finance LLC 7.625%, 04/01/32 (144A) (a)		2,620,000		2,640,188
9.250%, 02/15/28 (144A) (a)		2,070,000		2,185,684
Ecopetrol SA 8.375%, 01/19/36		5,870,000		5,925,290
Endeavor Energy Resources LP/EER Finance, Inc. 5.750%, 01/30/28 (144A)		3,770,000		3,800,560
EQT Corp. 7.000%, 02/01/30 (a)		2,480,000		2,634,866
Hilcorp Energy I LP/Hilcorp Finance Co. 6.250%, 04/15/32 (144A) (a)		3,440,000		3,392,513
8.375%, 11/01/33 (144A) (a)		2,500,000		2,710,487
KazMunayGas National Co. JSC 5.375%, 04/24/30 (144A)		300,000		294,013
6.375%, 10/24/48 (144A)		1,060,000		988,236
MEG Energy Corp. 5.875%, 02/01/29 (144A)		870,000		854,878
7.125%, 02/01/27 (144A) (a)		3,891,000		3,942,151
Nabors Industries Ltd. 7.250%, 01/15/26 (144A) (a)		1,220,000		1,212,447
Neptune Energy Bondco PLC 6.625%, 05/15/25 (144A) (a)		5,270,000		5,269,941
Noble Finance II LLC 8.000%, 04/15/30 (144A)		2,560,000		2,666,624
Northern Oil & Gas, Inc. 8.125%, 03/01/28 (144A) (a)		5,580,000		5,663,639
Occidental Petroleum Corp. 2.900%, 08/15/24 (a)		2,165,000		2,138,681
4.400%, 08/15/49		1,630,000		1,230,205
6.450%, 09/15/36 (a)		5,682,000		6,058,518
7.150%, 05/15/28		6,482,000		6,810,696
7.950%, 06/15/39		9,359,000		11,007,851
Permian Resources Operating LLC 5.875%, 07/01/29 (144A) (a)		6,400,000		6,293,391
7.000%, 01/15/32 (144A) (a)		1,790,000		1,856,971
9.875%, 07/15/31 (144A) (a)		5,360,000		5,972,648
Petrobras Global Finance BV 5.750%, 02/01/29 (a)		1,000,000		993,573
6.850%, 06/05/15 (a)		6,170,000		5,725,372
Range Resources Corp. 4.750%, 02/15/30 (144A)		2,970,000		2,769,080
8.250%, 01/15/29 (a)		9,260,000		9,632,280
Shelf Drilling Holdings Ltd. 9.625%, 04/15/29 (144A) (a)		3,680,000		3,554,992

BHFTII-267

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Oil & Gas—(Continued)
Southwestern Energy Co. 4.750%, 02/01/32 (a)		7,230,000	$	6,655,635
8.375%, 09/15/28 (a)		5,212,000		5,405,157
Vital Energy, Inc. 7.875%, 04/15/32 (144A)		2,890,000		2,935,858
YPF SA 6.950%, 07/21/27 (144A)		3,360,000		3,034,647
8.500%, 07/28/25 (144A)		6,350,000		6,220,125

				151,533,221


Packaging & Containers—0.5%
ARD Finance SA 6.500%, 7.250% PIK, 06/30/27 (144A) (c)		4,470,000		1,495,854
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC 6.000%, 06/15/27 (144A) (a)		3,680,000		3,572,429
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. 5.250%, 08/15/27 (144A) (a)		2,590,000		1,631,700
Cascades, Inc./Cascades USA, Inc. 5.375%, 01/15/28 (144A) (a)		2,610,000		2,505,727
Sealed Air Corp./Sealed Air Corp. U.S. 6.125%, 02/01/28 (144A) (a)		1,560,000		1,563,237

				10,768,947


Pharmaceuticals—1.2%
Bausch Health Cos., Inc. 5.500%, 11/01/25 (144A) (a)		2,470,000		2,331,458
6.125%, 02/01/27 (144A)		2,150,000		1,339,644
7.000%, 01/15/28 (144A)		1,070,000		476,783
Cheplapharm Arzneimittel GmbH 5.500%, 01/15/28 (144A) (a)		2,840,000		2,706,156
Option Care Health, Inc. 4.375%, 10/31/29 (144A) (a)		5,700,000		5,226,092
Teva Pharmaceutical Finance Co. LLC 6.150%, 02/01/36		3,775,000		3,673,232
Teva Pharmaceutical Finance Netherlands III BV 4.100%, 10/01/46		3,920,000		2,702,458
4.750%, 05/09/27		5,760,000		5,576,112
5.125%, 05/09/29		2,390,000		2,296,746

				26,328,681


Pipelines—3.8%
Blue Racer Midstream LLC/Blue Racer Finance Corp. 7.625%, 12/15/25 (144A)		5,130,000		5,158,236
El Paso Natural Gas Co. LLC 7.500%, 11/15/26		1,000,000		1,047,052
8.375%, 06/15/32		190,000		218,452
Energy Transfer LP 6.250%, 04/15/49 (a)		1,090,000		1,118,704
7.125%, 5Y H15 + 5.306%, 05/15/30 (b)		2,430,000		2,372,375
9.597%, 3M TSFR + 4.290%, 04/15/24 (b)		2,030,000		2,021,365
Enterprise Products Operating LLC 5.375%, 3M TSFR + 2.832%, 02/15/78 (a) (b)		13,090,000		12,199,491

Pipelines—(Continued)
EQM Midstream Partners LP 6.000%, 07/01/25 (144A) (a)		1,880,000		1,882,388
6.500%, 07/01/27 (144A) (a)		1,660,000		1,674,681
7.500%, 06/01/30 (144A) (a)		2,660,000		2,843,394
Howard Midstream Energy Partners LLC 6.750%, 01/15/27 (144A)		3,590,000		3,581,836
8.875%, 07/15/28 (144A) (a)		2,570,000		2,711,895
Kinder Morgan, Inc. 7.800%, 08/01/31 (a)		67,000		75,965
Plains All American Pipeline LP 9.679%, 3M TSFR + 4.372%, 04/29/24 (b)		4,228,000		4,201,265
Rockies Express Pipeline LLC 7.500%, 07/15/38 (144A)		2,480,000		2,547,082
Southern Natural Gas Co. LLC 8.000%, 03/01/32		25,000		28,747
Summit Midstream Holdings LLC/Summit Midstream Finance Corp. 9.000%, 10/15/26 (144A) (a) (f)		1,220,000		1,233,843
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. 6.000%, 12/31/30 (144A) (a)		3,230,000		3,068,287
Venture Global Calcasieu Pass LLC 3.875%, 08/15/29 (144A)		1,030,000		927,151
3.875%, 11/01/33 (144A) (a)		2,200,000		1,869,126
4.125%, 08/15/31 (144A)		2,450,000		2,178,539
6.250%, 01/15/30 (144A)		6,270,000		6,308,015
Venture Global LNG, Inc. 8.375%, 06/01/31 (144A) (a)		3,090,000		3,186,621
9.875%, 02/01/32 (144A) (a)		4,410,000		4,752,851
Western Midstream Operating LP 5.300%, 03/01/48		4,900,000		4,299,043
5.450%, 04/01/44		11,710,000		10,762,823

				82,269,227


Real Estate—0.3%
Country Garden Holdings Co. Ltd. 8.000%, 01/27/24 (g)		1,110,000		76,812
Cushman & Wakefield U.S. Borrower LLC 8.875%, 09/01/31 (144A) (a)		4,020,000		4,248,183
Five Point Operating Co. LP/Five Point Capital Corp. 10.500%, 01/15/28 (144A) (a)		2,025,049		2,084,952

				6,409,947


Real Estate Investment Trusts—0.6%
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. 4.250%, 02/01/27 (144A) (a)		526,000		492,117
4.750%, 06/15/29 (144A) (a)		2,090,000		1,899,870
MPT Operating Partnership LP/MPT Finance Corp. 5.000%, 10/15/27 (a)		3,060,000		2,562,750
5.250%, 08/01/26 (a)		2,609,000		2,388,345
Service Properties Trust 5.500%, 12/15/27 (a)		2,416,000		2,303,028
8.625%, 11/15/31 (144A) (a)		690,000		735,842

BHFTII-268

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—(Continued)


Security Description	Principal Amount*		Value

Real Estate Investment Trusts—(Continued)
Starwood Property Trust, Inc. 7.250%, 04/01/29 (144A) (a)		2,190,000	$	2,207,430

				12,589,382


Retail—1.9%
Bath & Body Works, Inc. 5.250%, 02/01/28 (a)		1,810,000		1,772,618
6.625%, 10/01/30 (144A) (a)		4,890,000		4,995,130
Doman Building Materials Group Ltd. 5.250%, 05/15/26 (144A) (CAD)		3,680,000		2,608,099
FirstCash, Inc. 5.625%, 01/01/30 (144A) (a)		3,060,000		2,907,814
Foot Locker, Inc. 4.000%, 10/01/29 (144A)		6,295,000		5,300,073
Global Auto Holdings Ltd./AAG FH U.K. Ltd. 8.375%, 01/15/29 (144A) (a)		200,000		195,388
8.750%, 01/15/32 (144A)		7,850,000		7,596,052
Michaels Cos., Inc. 5.250%, 05/01/28 (144A) (a)		2,630,000		2,240,969
QVC, Inc. 4.450%, 02/15/25 (a)		7,550,000		7,314,161
Sally Holdings LLC/Sally Capital, Inc. 6.750%, 03/01/32 (a)		1,860,000		1,845,459
Suburban Propane Partners LP/Suburban Energy Finance Corp. 5.000%, 06/01/31 (144A) (a)		2,430,000		2,215,391
Superior Plus LP/Superior General Partner, Inc. 4.500%, 03/15/29 (144A) (a)		2,320,000		2,144,951

				41,136,105


Software—0.6%
AthenaHealth Group, Inc. 6.500%, 02/15/30 (144A) (a)		3,840,000		3,512,136
Central Parent, Inc./CDK Global, Inc. 7.250%, 06/15/29 (144A) (a)		6,250,000		6,380,041
Open Text Holdings, Inc. 4.125%, 02/15/30 (144A) (a)		2,500,000		2,239,688
Rackspace Finance LLC 3.500%, 05/15/28 (144A)		912,600		460,863

				12,592,728


Telecommunications—0.8%
Altice France Holding SA 10.500%, 05/15/27 (144A)		6,360,000		2,379,761
Altice France SA 5.125%, 07/15/29 (144A)		950,000		642,232
5.500%, 10/15/29 (144A)		3,010,000		2,042,986
CommScope, Inc. 6.000%, 03/01/26 (144A) (a)		390,000		356,850
Millicom International Cellular SA 4.500%, 04/27/31 (144A)		3,930,000		3,369,568
6.250%, 03/25/29 (144A) (a)		1,395,000		1,362,324
Sprint Capital Corp. 8.750%, 03/15/32		2,069,000		2,508,770

Telecommunications—(Continued)
Vmed O2 U.K. Financing I PLC 4.750%, 07/15/31 (144A) (a)		4,620,000		3,981,905

				16,644,396


Transportation—0.3%
Carriage Purchaser, Inc. 7.875%, 10/15/29 (144A)		3,155,000		2,803,154
XPO, Inc. 6.250%, 06/01/28 (144A) (a)		2,630,000		2,651,742
7.125%, 02/01/32 (144A)		1,900,000		1,955,389

				7,410,285

Total Corporate Bonds & Notes (Cost $1,148,569,580)				1,113,323,299


Floating Rate Loans (h)—14.4%

Advertising—0.2%
CB Poly U.S. Holdings, Inc. Term Loan B, 10.848%, 3M TSFR + 5.500%, 05/18/29		4,073,676		4,069,007


Aerospace/Defense—0.4%
Kaman Corp.
2024 Term Loan, 03/27/31 (i)		3,975,000		3,982,453
Vertex Aerospace Services Corp.
2021 First Lien Term Loan, 8.579%, 1M TSFR + 3.250%, 12/06/28		4,954,583		4,970,066

				8,952,519


Airlines—0.2%
United Airlines, Inc. 2024 Term Loan B, 8.076%, 3M TSFR + 2.750%, 02/15/31		4,850,000		4,862,503


Apparel—0.1%
Fanatics Commerce Intermediate Holdco LLC Term Loan B, 8.691%, 1M TSFR + 3.250%, 11/24/28		1,728,846		1,727,496


Auto Parts & Equipment—0.3%
Clarios Global LP
2024 Term Loan B, 8.330%, 1M TSFR + 3.000%, 05/06/30		3,291,750		3,302,037
2022 Incremental Term Loan, 10.574%, 3M TSFR + 5.000%, 03/30/27		3,396,250		3,404,034

				6,706,071


Beverages—0.2%
Triton Water Holdings, Inc. 2024 Incremental Term Loan B, 9.326%, 3M TSFR + 4.000%, 03/31/28		3,481,275		3,458,065


Building Materials—0.3%
Emrld Borrower LP Term Loan B, 7.790%, 3M TSFR + 2.500%, 05/31/30		3,896,591		3,897,079

BHFTII-269

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Floating Rate Loans (h)—(Continued)


Security Description	Principal Amount*		Value

Building Materials—(Continued)
Quikrete Holdings, Inc.
2023 Term Loan B, 8.195%, 1M TSFR + 2.750%, 03/19/29		2,334,794	$	2,339,702

				6,236,781


Commercial Services—1.8%
Adtalem Global Education, Inc.
2024 Term Loan B, 8.826%, 1M TSFR + 3.500%, 08/11/28		654,951		657,509
Allied Universal Holdco LLC
2021 USD Incremental Term Loan B, 9.180%, 1M TSFR + 3.750%, 05/12/28		5,338,931		5,337,079
2023 Term Loan B, 10.080%, 1M TSFR + 4.750%, 05/12/28		2,507,400		2,517,923
DS Parent, Inc. Term Loan B, 10.813%, 3M TSFR + 5.500%, 01/31/31		4,830,000		4,791,761
Garda World Security Corp.
2022 Term Loan B, 9.583%, 3M TSFR + 4.250%, 02/01/29		3,645,418		3,656,052
GTCR W Merger Sub LLC
USD Term Loan B, 8.309%, 1M TSFR + 3.000%, 01/31/31		2,530,000		2,540,477
MPH Acquisition Holdings LLC
2021 Term Loan B, 9.855%, 3M TSFR + 4.250%, 09/01/28		3,572,519		3,462,864
PECF USS Intermediate Holding III Corp. Term Loan B, 9.691% - 9.824%, 3M TSFR + 4.250%, 12/15/28 (j)		3,205,402		2,454,803
Peer Holding III BV
2023 USD Term Loan B4, 8.559%, 3M TSFR + 3.250%, 10/28/30		3,340,000		3,351,483
Prime Security Services Borrower LLC
2023 Term Loan B, 7.827%, 3M TSFR + 2.500%, 10/14/30		2,244,375		2,248,428
Ryan LLC
Delayed Draw Term Loan, 11/14/30 (k)		493,333		496,417
Term Loan, 9.830%, 1M TSFR + 4.500%, 11/14/30		4,796,667		4,826,646
Verscend Holding Corp.
2021 Term Loan B, 9.445%, 1M TSFR + 4.000%, 08/27/25		1,857,896		1,859,555
WW International, Inc.
2021 Term Loan B, 8.829%, 1M TSFR + 3.500%, 04/13/28		2,260,000		991,575

				39,192,572


Computers—1.2%
Amentum Government Services Holdings LLC
2022 Term Loan, 9.329%, 1M TSFR + 4.000%, 02/15/29		5,693,513		5,716,641
Term Loan B, 9.445%, 1M TSFR + 4.000%, 01/29/27		4,543,073		4,561,527
Magenta Buyer LLC
2021 USD 1st Lien Term Loan, 10.574%, 3M TSFR + 5.000%, 07/27/28		2,969,296		1,771,681
NEXUS Buyer LLC
2023 Term Loan B2, 9.826%, 1M TSFR + 4.500%, 12/13/28		6,740,000		6,700,686

Computers—(Continued)
Redstone Holdco 2 LP
2021 Term Loan, 10.195%, 1M TSFR + 4.750%, 04/27/28		5,344,792		4,436,177
UST Holdings Ltd. Term Loan, 8.937%, 1M TSFR + 3.500%, 11/20/28		3,352,726		3,347,489

				26,534,201


Diversified Financial Services—1.4%
Advisor Group, Inc.
2023 Term Loan B, 9.826%, 1M TSFR + 4.500%, 08/17/28		3,142,125		3,158,024
2024 Term Loan, 08/17/28 (i)		1,680,000		1,688,852
AqGen Island Holdings, Inc. Term Loan, 8.945%, 1M TSFR + 3.500%, 08/02/28		4,431,146		4,420,622
Aretec Group, Inc.
2023 Incremental Term Loan, 9.926%, 1M TSFR + 4.500%, 08/09/30		2,676,516		2,693,748
Blackhawk Network Holdings, Inc.
2024 Term Loan, 10.319%, 3M TSFR + 5.000%, 03/12/29		2,740,000		2,747,573
Citadel Securities LP
2024 Term Loan B, 7.577%, 1M TSFR + 2.250%, 07/29/30		2,909,767		2,910,495
CTC Holdings LP Term Loan B, 10.476%, 3M TSFR + 5.000%, 02/20/29		2,206,736		2,201,219
Deerfield Dakota Holding LLC
2021 USD 2nd Lien Term Loan, 12.321%, 3M TSFR + 6.750%, 04/07/28		2,060,000		2,065,150
Focus Financial Partners LLC
2021 Term Loan B4, 7.830%, 1M TSFR + 2.500%, 06/30/28		4,952,351		4,939,970
2024 Term Loan B7, 8.080%, 1M TSFR + 2.750%, 06/30/28		3,730		3,724
Greystone Select Financial LLC Term Loan B, 10.571%, 3M TSFR + 5.000%, 06/16/28		1,363,631		1,363,631
Jane Street Group LLC
2024 Term Loan B, 7.941%, 1M TSFR + 2.500%, 01/26/28		2,676,982		2,680,885

				30,873,893


Engineering & Construction—0.3%
Brown Group Holding LLC
2022 Incremental Term Loan B2, 8.309% - 8.343%, 3M TSFR + 3.000%, 07/02/29 (j)		664,950		665,781
Term Loan B, 8.180%, 1M TSFR + 2.750%, 06/07/28		4,904,430		4,905,863
Chromalloy Corp.
2024 Term Loan B, 03/21/31 (i)		1,720,000		1,715,700

				7,287,344


Entertainment—1.2%
Allen Media LLC
2021 Term Loan B, 10.959%, 3M TSFR + 5.500%, 02/10/27		8,650,143		7,581,850
Caesars Entertainment Corp.
2024 Term Loan B1, 8.040%, 3M TSFR + 2.750%, 02/06/31		4,140,000		4,148,798

BHFTII-270

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Floating Rate Loans (h)—(Continued)


Security Description	Principal Amount*		Value

Entertainment—(Continued)
Caesars Entertainment Corp.
Term Loan B, 8.663%, 3M TSFR + 3.250%, 02/06/30		1,752,300	$	1,758,734
Cinemark USA, Inc.
2023 Term Loan B, 9.076%, 1M TSFR + 3.750%; 9.098%, 3M TSFR + 3.750%, 05/24/30 (j)		3,660,357		3,677,897
Flutter Entertainment PLC Term Loan B, 7.659%, 3M TSFR + 2.250%, 11/25/30		5,526,150		5,533,550
UFC Holdings LLC
2021 Term Loan B, 8.336%, 3M TSFR + 2.750%, 04/29/26		3,581,848		3,590,355

				26,291,184


Environmental Control—0.2%
LRS Holdings LLC Term Loan B, 9.695%, 1M TSFR + 4.250%, 08/31/28		4,105,204		4,105,204


Food—0.2%
8th Avenue Food & Provisions, Inc.
2018 2nd Lien Term Loan, 13.191%, 1M TSFR + 7.750%, 10/01/26		1,452,297		1,338,534
Froneri International Ltd.
2020 EUR Term Loan B1, 5.991%, 6M EURIBOR + 2.125%, 01/29/27 (EUR)		2,780,000		2,976,028

				4,314,562


Healthcare-Products—0.2%
Medline Borrower LP
2024 Term Loan B, 10/23/28 (i)		1,971,603		1,977,853
Sotera Health Holdings LLC
2023 Incremental Term Loan B, 9.079%, 1M TSFR + 3.750%, 12/11/26		3,374,500		3,378,718

				5,356,571


Healthcare-Services—0.5%
EyeCare Partners LLC
2021 2nd Lien Term Loan, 12.324%, 3M TSFR + 6.750%, 11/15/29		3,930,000		1,447,549
2021 Incremental Term Loan, 9.324%, 3M TSFR + 3.750%, 11/15/28		4,184,600		2,245,737
Knight Health Holdings LLC Term Loan B, 10.691%, 1M TSFR + 5.250%, 12/23/28		1,410,592		641,819
LifePoint Health, Inc.
2023 Term Loan B, 11.087%, 3M TSFR + 5.500%, 11/16/28		3,807,231		3,819,844
Phoenix Guarantor, Inc.
2024 Term Loan, 8.576%, 1M TSFR + 3.250%, 02/21/31		3,097,005		3,059,986

				11,214,935


Home Furnishings—0.3%
AI Aqua Merger Sub, Inc.
2023 Incremental Term Loan, 9.576%, 1M TSFR + 4.250%, 07/31/28 (k)		5,850,000		5,875,137


Insurance—1.2%
Acrisure LLC
2020 Term Loan B, 8.945%, 1M TSFR + 3.500%, 02/15/27		2,870,400		2,871,970
AssuredPartners, Inc.
2023 Term Loan B4, 9.080%, 1M TSFR + 3.750%, 02/12/27		2,864,461		2,870,428
Asurion LLC
2021 Second Lien Term Loan B4, 10.691%, 1M TSFR + 5.250%, 01/20/29		8,950,000		8,034,487
2021 Term Loan B9, 8.691%, 1M TSFR + 3.250%, 07/31/27		3,187,654		3,072,764
Howden Group Holdings Ltd.
2023 USD Term Loan B, 9.326%, 1M TSFR + 4.000%, 04/18/30		930,600		935,543
Sedgwick Claims Management Services, Inc.
2023 Term Loan B, 9.076%, 1M TSFR + 3.750%, 02/24/28		3,784,913		3,795,557
Truist Insurance Holdings LLC
1st Lien Term Loan, 03/24/31 (i)		3,850,000		3,848,383

				25,429,132


Investment Companies—0.3%
Cardinal Parent, Inc.
2020 Term Loan B, 9.998%, 3M TSFR + 4.500%, 11/12/27		6,092,080		5,711,325
Jump Financial LLC Term Loan B, 9.820%, 3M TSFR + 4.500%, 08/07/28		833,719		824,339

				6,535,664


Leisure Time—0.4%
19th Holdings Golf LLC
2022 Term Loan B, 8.673%, 1M TSFR + 3.350%, 02/07/29		5,983,376		5,852,489
Carnival Corp.
2023 Term Loan B, 8.319%, 1M TSFR + 3.000%, 08/08/27		1,776,575		1,780,462
Hayward Industries, Inc.
2022 Term Loan, 8.676% - 10.750%, 1M TSFR + 3.250%, PRIME + 2.250%, 05/30/28 (j)		2,068,500		2,073,349

				9,706,300


Lodging—0.4%
Four Seasons Hotels Ltd.
2024 Term Loan B, 7.321%, 3M TSFR + 2.000%, 11/30/29		3,381,439		3,389,893
Station Casinos LLC
2024 Term Loan B, 03/07/31 (i)		5,380,000		5,379,521

				8,769,414


Machinery-Diversified—0.1%
SPX Flow, Inc.
2022 Term Loan, 9.926%, 1M TSFR + 4.500%, 04/05/29		1,709,977		1,719,168

BHFTII-271

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Floating Rate Loans (h)—(Continued)


Security Description	Principal Amount*		Value

Media—0.4%
A-L Parent LLC
2023 Take Back Term Loan, 10.826%, 1M TSFR + 5.500%, 06/30/28		3,462,600	$	3,459,716
Gray Television, Inc.
2021 Term Loan D, 8.440%, 1M TSFR + 3.000%, 12/01/28		3,939,923		3,701,680
Virgin Media Bristol LLC
2023 USD Term Loan Y, 8.790%, 6M TSFR + 3.250%, 03/31/31		2,620,000		2,580,448

				9,741,844


Real Estate Investment Trusts—0.1%
Apollo Commercial Real Estate Finance, Inc.
2021 Incremental Term Loan B1, 8.945%, 1M TSFR + 3.500%, 03/11/28		2,086,228		2,070,582


Retail—0.7%
Dave & Buster’s, Inc.
2023 Term Loan B5, 7.580%, 1M TSFR + 2.250%, 09/20/30		3,227,835		3,229,449
Lakeshore Intermediate LLC Term Loan, 8.941%, 1M TSFR + 3.500%, 09/29/28		1,680,277		1,681,502
Michaels Cos., Inc.
2021 Term Loan B, 9.570%, 3M TSFR + 4.250%, 04/15/28		417,852		375,179
Spencer Spirit IH LLC Term Loan B, 11.422%, 1M TSFR + 6.000%, 06/19/26		5,047,055		5,061,777
Thermostat Purchaser III, Inc. Term Loan, 9.993%, 3M TSFR + 4.500%, 08/31/28		4,062,344		4,016,642

				14,364,549


Software—1.6%
Cloudera, Inc.
2021 Second Lien Term Loan, 11.426%, 1M TSFR + 6.000%, 10/08/29		1,090,000		1,083,187
2021 Term Loan, 9.079%, 1M TSFR + 3.750%, 10/08/28		3,411,298		3,401,170
Cotiviti Corp.
2024 Term Loan, 02/21/31 (i)		3,840,000		3,846,401
DCert Buyer, Inc.
2019 Term Loan B, 9.330%, 1M TSFR + 4.000%, 10/16/26		4,226,373		4,211,314
2021 2nd Lien Term Loan, 12.330%, 1M TSFR + 7.000%, 02/19/29		8,990,000		8,140,634
EVERTEC Group LLC
2023 Term Loan B, 8.830%, 1M TSFR + 3.500%, 10/30/30		1,971,000		1,978,391
MRI Software LLC
2020 Term Loan, 10.948%, 3M TSFR + 5.500%, 02/10/27		922,768		920,461
2020 Term Loan B, 10.948%, 3M TSFR + 5.500%, 02/10/27		1,604,419		1,587,412
Planview Parent, Inc. Term Loan, 9.610%, 3M TSFR + 4.000%, 12/17/27		5,536,969		5,524,511

Software—(Continued)
Project Alpha Intermediate Holding, Inc.
2023 1st Lien Term Loan B, 10.063%, 3M TSFR + 4.750%, 10/28/30		3,650,000		3,673,320

				34,366,801


Telecommunications—0.1%
Global Tel*Link Corp.
2018 1st Lien Term Loan, 9.680%, 1M TSFR + 4.250%, 11/29/25		2,091,408		2,037,816


Transportation—0.1%
Worldwide Express Operations LLC
2021 1st Lien Term Loan, 9.571%, 3M TSFR + 4.000%, 07/26/28		2,692,469		2,683,213

Total Floating Rate Loans (Cost $323,853,895)				314,482,528


Mortgage-Backed Securities—10.8%

Collateralized Mortgage Obligations—6.2%
Angel Oak Mortgage Trust 4.134%, 01/25/67 (144A) (b)		3,644,522		3,305,015
Banc of America Funding Corp. 3.821%, 02/27/37 (144A) (b)		15,692,346		12,757,391
Banc of America Funding Trust 3.972%, 1M TSFR + 0.279%, 09/29/36 (144A) (b)		19,646,415		14,517,308
4.834%, 03/27/36 (144A) (b)		3,779,105		3,059,519
7.231%, 01/27/30 (144A) (b)		23,382,169		7,948,418
Banc of America Mortgage Trust 5.147%, 09/25/35 (b)		21,785		19,045
BCAP LLC Trust 4.232%, 05/26/47 (144A) (b)		2,694,972		2,356,426
Bear Stearns Asset-Backed Securities I Trust 12.662%, -4.33x 1M TSFR + 35.754%, 07/25/36 (b)		169,203		193,547
BRAVO Residential Funding Trust 3.125%, 01/29/70 (144A) (f)		5,651,032		5,291,289
6.435%, 05/25/63 (144A) (f)		3,756,285		3,777,446
7.103%, 10/25/63 (144A) (f)		3,597,429		3,623,120
CIM Trust 5.000%, 05/25/62 (144A) (b)		1,291,715		1,273,844
Citigroup Mortgage Loan Trust, Inc. 6.170%, 09/25/62 (144A) (f)		4,269,622		4,268,113
COLT Mortgage Loan Trust 6.586%, 02/25/69 (144A) (b)		1,580,000		1,560,119
Countrywide Alternative Loan Trust 4.963%, -2.2x 1M TSFR + 16.688%, 06/25/35 (b)		717,568		577,042
5.750%, 01/25/37		1,347,060		666,301
6.000%, 01/25/37		1,077,307		642,806
6.337%, -6x 1M TSFR + 38.313%, 08/25/37 (b)		560,506		643,061
6.824%, -4x 1M TSFR + 28.142%, 07/25/36 (b)		1,411,320		1,249,442
Countrywide Alternative Loan Trust Resecuritization 4.037%, 08/25/37 (b)		1,859,714		866,480
Countrywide Reperforming Loan REMICS Trust 0.803%, 03/25/35 (144A) † (b) (l)		1,665,004		65,711

BHFTII-272

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mortgage-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Collateralized Mortgage Obligations—(Continued)
CSMC Trust 1.796%, 12/27/60 (144A) (b)		1,718,659	$	1,666,369
6.937%, 09/27/60 (144A)		5,396,117		5,210,304
GreenPoint MTA Trust 5.884%, 1M TSFR + 0.554%, 06/25/45 (b)		317,309		283,821
GSMPS Mortgage Loan Trust 5.844%, 1M TSFR + 0.514%, 04/25/36 (144A) (b)		687,272		567,069
HarborView Mortgage Loan Trust 6.444%, 1M TSFR + 2.114%, 10/25/37 (b)		533,491		474,670
IndyMac INDX Mortgage Loan Trust 6.164%, 1M TSFR + 0.834%, 01/25/35 (b)		485,253		340,527
Legacy Mortgage Asset Trust 6.844%, 10/25/66 (144A) (f)		2,801,686		2,803,435
Lehman XS Trust 5.844%, 1M TSFR + 0.514%, 08/25/46 (b)		725,889		658,760
LHOME Mortgage Trust 7.017%, 01/25/29 (144A) (f)		4,360,000		4,375,774
MASTR Seasoned Securitization Trust 5.729%, 10/25/32 (b)		26,127		25,774
Merrill Lynch Mortgage Investors Trust 4.541%, 05/25/34 (b)		20,478		17,762
5.593%, 08/25/33 (b)		166,465		151,301
MFA Trust 6.784%, 12/25/68 (144A) (f)		3,257,053		3,264,922
New Residential Mortgage Loan Trust 3.500%, 12/25/57 (144A) (b)		2,860,000		2,384,186
3.500%, 12/25/58 (144A) (b)		2,462,415		2,260,577
3.750%, 11/25/58 (144A) (b)		3,082,994		2,884,936
4.003%, 04/25/62 (144A) (b)		4,157,904		3,714,318
4.250%, 09/25/56 (144A) (b)		4,857,691		4,511,478
NovaStar Mortgage Funding Trust 0.545%, 1M TSFR + 0.494%, 09/25/46 (b)		191,320		171,193
NYMT Loan Trust 7.154%, 02/25/29 (144A) (f)		2,650,000		2,625,603
OBX Trust 5.949%, 02/25/63 (144A) (f)		969,218		965,210
PRKCM Trust 7.304%, 02/25/58 (144A) (f)		4,656,454		4,591,318
Residential Accredit Loans, Inc. Trust 6.421%, 11/25/37 (b)		1,705,171		1,349,810
Residential Asset Securitization Trust 5.750%, 02/25/36		679,060		625,030
Sequoia Mortgage Trust 3.726%, 07/25/45 (144A) (b)		3,882		3,686
6.483%, 6M TSFR + 1.108%, 06/20/33 (b)		25,134		23,976
Structured Adjustable Rate Mortgage Loan Trust 4.295%, 09/25/35 (b)		273,177		169,060
6.940%, 1M TSFR + 1.614%, 09/25/37 (b)		1,656,447		1,485,914
Structured Asset Mortgage Investments II Trust 5.864%, 1M TSFR + 0.534%, 05/25/46 (b)		99,045		67,729
6.004%, 1M TSFR + 0.674%, 02/25/36 (b)		1,174,464		951,880
Towd Point Mortgage Trust 3.658%, 06/25/57 (144A) (b)		2,900,000		2,373,615
7.694%, 1M TSFR + 2.364%, 05/25/58 (144A) (b)		1,220,000		1,300,649

Collateralized Mortgage Obligations—(Continued)
Verus Securitization Trust 4.910%, 06/25/67 (144A) (f)		2,930,063		2,849,168
6.118%, 01/25/69 (144A) (f)		4,931,664		4,909,449
6.968%, 12/25/68 (144A) (f)		2,520,876		2,539,626
WaMu Mortgage Pass-Through Certificates Trust 4.314%, 09/25/36 (b)		216,516		185,599
5.540%, 08/25/33 (b)		348,144		331,465
5.887%, 12M MTA + 0.798%, 03/25/47 (b)		602,073		518,082
5.984%, 1M TSFR + 0.654%, 12/25/45 (b)		133,615		130,342
6.404%, 1M TSFR + 1.074%, 12/25/45 (b)		4,954,897		2,938,234
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust 1.236%, -1x 1M TSFR + 6.566%, 04/25/37 (b) (l)		6,437,688		901,795

				136,265,859


Commercial Mortgage-Backed Securities—4.6%
2023-MIC Trust 8.437%, 12/05/38 (144A) (b)		1,080,000		1,120,635
280 Park Avenue Mortgage Trust 7.155%, 1M TSFR + 1.836%, 09/15/34 (144A) (b)		1,640,000		1,514,986
BAMLL Re-REMICS Trust 5.630%, 08/10/45 (144A) (b)		4,663,101		792,727
Benchmark Mortgage Trust 3.666%, 01/15/51 (b)		1,210,000		1,132,380
6.363%, 07/15/56 (b)		1,120,000		1,170,547
BFLD Trust 9.641%, 1M TSFR + 4.314%, 10/15/35 (144A) (b)		2,960,000		113,096
BX Trust 3.549%, 03/11/44 (144A) (b)		9,066,697		7,573,203
7.990%, 1M TSFR + 2.690%, 04/15/29 (144A) (b)		5,460,000		5,464,720
11.196%, 1M TSFR + 5.871%, 06/15/40 (144A) (b)		1,090,000		1,090,768
CFK Trust 3.458%, 03/15/39 (144A) (b)		4,800,000		3,568,825
Citigroup Commercial Mortgage Trust 3.110%, 04/10/48 (144A)		1,750,000		1,489,318
3.225%, 09/15/48 (144A)		2,000,000		1,734,497
4.417%, 07/10/47 (b)		1,210,000		1,153,986
5.820%, 10/12/40 (144A) (b)		1,120,000		1,139,216
CoreVest American Finance Ltd. 7.553%, 12/28/30 (144A) (f)		4,010,000		4,030,437
CSMC Trust 3.160%, 12/15/41 (144A)		7,420,000		6,542,147
4.373%, 09/15/37 (144A)		6,620,000		3,385,202
12.794%, PRIME + 4.294%, 07/15/32 (144A) (b)		6,285,000		5,343,958
CSMC Trust Capital Certificates 8.023%, 1M TSFR + 2.697%, 05/15/36 (144A) (b)		10,593,644		10,563,654
Greystone CRE Notes 10.663%, 1M TSFR + 5.333%, 03/15/41 (144A) (b)		2,180,000		2,174,413
GS Mortgage Securities Corp. II 8.666%, 03/10/41 (144A) (b)		3,260,000		3,308,090
GS Mortgage Securities Corp. Trust 7.941%, 1M TSFR + 2.614%, 05/15/26 (144A) (b)		1,540,000		792,247
GS Mortgage Securities Trust 3.384%, 05/10/50		4,000,000		3,154,783

BHFTII-273

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mortgage-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Commercial Mortgage-Backed Securities—(Continued)
JP Morgan Chase Commercial Mortgage Securities Trust 4.723%, 01/15/49 (b)		568,000	$	507,554
9.706%, 1M TSFR + 4.379%, 11/15/38 (144A) (b)		3,760,000		3,585,581
MHC Trust 7.390%, 1M TSFR + 2.064%, 05/15/38 (144A) (b)		4,496,000		4,431,370
Morgan Stanley Capital I Trust 4.559%, 12/15/48 (b)		1,940,000		1,687,800
MSWF Commercial Mortgage Trust 5.472%, 05/15/56		2,210,000		2,268,992
7.018%, 12/15/56 (b)		2,260,000		2,353,193
Multifamily Trust 7.813%, 04/25/46 (144A) (b)		2,327,531		2,307,142
SMR Mortgage Trust 11.325%, 1M TSFR + 6.000%, 02/15/39 (144A) (b)		2,755,343		2,403,034
SMRT Commercial Mortgage Trust 7.276%, 1M TSFR + 1.950%, 01/15/39 (144A) (b)		5,560,000		5,462,281
Soho Trust 2.697%, 08/10/38 (144A) (b)		3,330,000		1,994,567
UBS Commercial Mortgage Trust 3.418%, 12/15/50		1,004,064		946,680
Waikiki Beach Hotel Trust 7.653%, 1M TSFR + 2.327%, 12/15/33 (144A) (b)		1,860,000		1,818,710
WB Commercial Mortgage Trust 8.278%, 03/15/40 (144A) (b)		1,100,000		1,108,865

				99,229,604

Total Mortgage-Backed Securities (Cost $257,661,596)				235,495,463


Asset-Backed Securities—9.1%

Asset-Backed - Automobile—0.3%
Avis Budget Rental Car Funding AESOP LLC 3.710%, 08/20/27 (144A)		7,750,000		7,035,038


Asset-Backed - Home Equity—0.2%
Bear Stearns Asset-Backed Securities Trust 6.184%, 1M TSFR + 0.854%, 01/25/34 (b)		8,770		8,392
WaMu Asset-Backed Certificates WaMu Trust 5.614%, 1M TSFR + 0.284%, 07/25/47 (b)		6,443,800		4,570,347

				4,578,739


Asset-Backed - Manufactured Housing—0.1%
Origen Manufactured Housing Contract Trust 6.641%, 10/15/37 (b)		263,132		239,998
7.516%, 04/15/37 (b)		272,606		254,569
UCFC Manufactured Housing Contract 7.095%, 04/15/29 (b)		815,119		729,184

				1,223,751


Asset-Backed - Other—8.2%
AB BSL CLO 4 Ltd. 7.318%, 3M TSFR + 2.000%, 04/20/36 (144A) (b)		1,000,000		1,006,866
ALM Ltd. 11.576%, 3M TSFR + 6.262%, 10/15/29 (144A) (b)		3,880,000		3,824,888

Asset-Backed - Other—(Continued)
AMMC CLO 30 Ltd. 9.791%, 3M TSFR + 4.500%, 01/15/37 (144A) (b)		1,800,000		1,801,804
Apidos CLO XXII Ltd. 12.329%, 3M TSFR + 7.012%, 04/20/31 (144A) (b)		5,490,000		5,440,283
APL Finance DAC 7.861%, 07/21/31 (144A)		1,200,000		1,213,032
Applebee’s Funding LLC/IHOP Funding LLC 7.824%, 03/05/53 (144A)		3,150,000		3,256,504
Bain Capital Credit CLO Ltd. 7.144%, 3M TSFR + 1.830%, 04/16/36 (144A) (b)		4,690,000		4,710,397
Balboa Bay Loan Funding Ltd. 11.979%, 3M TSFR + 6.662%, 01/20/32 (144A) (b)		2,400,000		2,382,766
Barings CLO Ltd. 8.529%, 3M TSFR + 3.212%, 10/20/30 (144A) (b)		2,757,500		2,741,779
11.259%, 3M TSFR + 5.942%, 01/20/32 (144A) (b)		5,740,000		5,668,325
Bear Stearns Asset-Backed Securities Trust 6.000%, 10/25/36		939,078		376,892
Buckhorn Park CLO Ltd. 6.680%, 3M TSFR + 1.382%, 07/18/34 (144A) (b)		5,890,000		5,892,550
8.660%, 3M TSFR + 3.362%, 07/18/34 (144A) (b)		800,000		790,093
Canyon Capital CLO Ltd. 11.986%, 3M TSFR + 6.672%, 04/15/34 (144A) (b)		750,000		716,035
Carlyle Global Market Strategies CLO Ltd. 6.619%, 3M TSFR + 1.312%, 05/15/31 (144A) (b)		6,072,670		6,078,609
8.529%, 3M TSFR + 3.212%, 07/20/31 (144A) (b)		1,500,000		1,478,767
Carlyle U.S. CLO Ltd. 9.279%, 3M TSFR + 3.962%, 07/20/31 (144A) (b)		8,500,000		8,384,638
CarVal CLO VII-C Ltd. 7.518%, 3M TSFR + 2.200%, 01/20/35 (144A) (b)		4,500,000		4,514,832
Catskill Park CLO Ltd. 11.579%, 3M TSFR + 6.262%, 04/20/29 (144A) (b)		6,000,000		5,902,662
Dividend Solar Loans LLC 3.670%, 08/22/39 (144A)		2,408,921		2,161,834
Driven Brands Funding, LLC 4.641%, 04/20/49 (144A)		1,900,000		1,841,464
Dryden 43 Senior Loan Fund 11.979%, 3M TSFR + 6.662%, 04/20/34 (144A) (b)		2,790,000		2,537,940
FNA VI LLC 1.350%, 01/10/32 (144A)		672,544		620,414
Fortress Credit BSL XII Ltd. 12.706%, 3M TSFR + 7.392%, 10/15/34 (144A) (b)		2,250,000		2,202,201
Golub Capital Partners CLO 53B Ltd. 12.279%, 3M TSFR + 6.962%, 07/20/34 (144A) (b)		2,500,000		2,439,200
Golub Capital Partners CLO 66B Ltd. 7.275%, 3M TSFR + 1.950%, 04/25/36 (144A) (b)		1,210,000		1,220,081
Greenwood Park CLO Ltd. 10.526%, 3M TSFR + 5.212%, 04/15/31 (144A) (b)		7,380,000		6,895,769
Greywolf CLO II Ltd. 9.227%, 3M TSFR + 3.910%, 04/17/34 (144A) (b)		4,090,000		3,951,361
Halsey Point CLO I Ltd. 13.779%, 3M TSFR + 8.462%, 01/20/33 (144A) (b)		2,770,000		2,464,580
Kestrel Aircraft Funding Ltd. 4.250%, 12/15/38 (144A)		1,199,635		1,115,673
LFS LLC 8.250%, 07/15/35 (144A)		1,000,000		986,918

BHFTII-274

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Asset-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Asset-Backed - Other—(Continued)
Long Beach Mortgage Loan Trust 5.963%, 1M TSFR + 0.634%, 01/21/31 (b)		1,120	$	1,114
Magnetite XII Ltd. 11.256%, 3M TSFR + 5.942%, 10/15/31 (144A) (b)		500,000		499,390
MidOcean Credit CLO VII 9.456%, 3M TSFR + 4.142%, 07/15/29 (144A) (b)		4,000,000		3,982,292
Mosaic Solar Loans LLC 9.000%, 09/20/49 (144A)		2,600,000		2,557,095
Neuberger Berman Loan Advisers CLO 31 Ltd. 8.829%, 3M TSFR + 3.512%, 04/20/31 (144A) (b)		1,960,000		1,947,823
Neuberger Berman Loan Advisers CLO 44 Ltd. 11.576%, 3M TSFR + 6.262%, 10/16/34 (144A) (b)		3,560,000		3,533,428
Ocean Trails CLO X 13.146%, 3M TSFR + 7.832%, 10/15/34 (144A) (b)		3,500,000		3,316,078
Ocean Trails CLO XIV Ltd. 7.318%, 3M TSFR + 2.000%, 01/20/35 (144A) (b)		5,190,000		5,215,504
OCP CLO Ltd. 9.021%, 3M TSFR + 3.700%, 04/26/36 (144A) (b)		2,210,000		2,198,227
Octagon Investment Partners 32 Ltd. 8.976%, 3M TSFR + 3.662%, 07/15/29 (144A) (b)		2,475,000		2,461,727
OHA Loan Funding Ltd. 8.627%, 3M TSFR + 3.312%, 07/23/31 (144A) (b)		2,760,000		2,746,084
Palmer Square Loan Funding Ltd. 8.321%, 3M TSFR + 3.000%, 04/15/31 (144A) (b)		3,480,000		3,479,951
Peace Park CLO Ltd. 11.579%, 3M TSFR + 6.262%, 10/20/34 (144A) (b)		2,250,000		2,247,430
Pioneer Aircraft Finance Ltd. 3.967%, 06/15/44 (144A)		1,850,639		1,711,860
Rad CLO 21 Ltd. 9.774%, 3M TSFR + 4.400%, 01/25/33 (144A) (b)		2,160,000		2,163,987
RR 18 Ltd. 11.826%, 3M TSFR + 6.512%, 10/15/34 (144A) (b)		7,070,000		6,869,170
Sculptor CLO XXVI Ltd. 12.829%, 3M TSFR + 7.512%, 07/20/34 (144A) (b)		4,370,000		4,139,203
Structured Asset Securities Corp. Mortgage Loan Trust 5.664%, 1M TSFR + 0.334%, 02/25/36 (144A) (b)		2,534,619		52,176
Symphony CLO XIX Ltd. 6.536%, 3M TSFR + 1.222%, 04/16/31 (144A) (b)		2,068,883		2,068,847
TCI-Symphony CLO Ltd. 8.676%, 3M TSFR + 3.362%, 10/13/32 (144A) (b)		1,720,000		1,699,811
12.326%, 3M TSFR + 7.012%, 10/13/32 (144A) (b)		6,440,000		6,158,978
Thrust Engine Leasing DAC 4.163%, 07/15/40 (144A)		3,031,001		2,793,249
Trinitas CLO XXVI Ltd. 8.268%, 3M TSFR + 2.950%, 01/20/35 (144A) (b)		3,100,000		3,100,542
Trinitas CLO XXVII Ltd. 9.545%, 3M TSFR + 4.300%, 04/18/37 (144A) (b)		4,190,000		4,189,656
Valley Stream Park CLO Ltd. 9.468%, 3M TSFR + 4.150%, 10/20/34 (144A) (b)		2,725,000		2,737,009
Voya CLO Ltd. 12.529%, 3M TSFR + 7.212%, 04/20/34 (144A) (b)		2,360,000		2,310,603
Warwick Capital CLO 3 Ltd. 1.000%, -1x 3M TSFR + 4.500%, 04/20/37 (144A) (b)		2,420,000		2,420,000
Whitebox CLO IV Ltd. 7.468%, 3M TSFR + 2.150%, 04/20/36 (144A) (b)		6,220,000		6,262,644

Asset-Backed - Other—(Continued)
Whitehorse XII Ltd. 9.226%, 3M TSFR + 3.912%, 10/15/31 (144A) (b)		2,600,000		2,553,382

				180,036,417


Asset-Backed - Student Loan—0.3%
College Avenue Student Loans LLC 6.060%, 05/25/55 (144A)		2,558,000		2,456,090
National Collegiate Student Loan Trust 5.734%, 1M TSFR + 0.404%, 01/25/33 (b)		1,806,261		1,697,434
SMB Private Education Loan Trust 3.860%, 01/15/53 (144A)		2,826,516		2,445,438

				6,598,962

Total Asset-Backed Securities (Cost $203,159,332)				199,472,907


U.S. Treasury & Government Agencies—7.1%

Agency Sponsored Mortgage - Backed—7.1%
Federal Home Loan Mortgage Corp. 1.500%, 05/01/41		717,297		587,694
1.500%, 07/01/41		569,555		465,054
3.000%, 06/01/35		2,301,273		2,129,462
4.000%, 07/01/49		5,467,229		5,147,996
4.500%, 02/01/47		1,361,984		1,324,022
7.000%, 03/01/39		30,342		32,335
Federal Home Loan Mortgage Corp. STACR REMICS Trust 8.320%, SOFR30A + 3.000%, 12/25/50 (144A) (b)		8,290,000		8,717,483
8.370%, SOFR30A + 3.050%, 01/25/34 (144A) (b)		4,750,000		5,023,077
9.070%, SOFR30A + 3.750%, 02/25/42 (144A) (b)		2,717,000		2,857,958
10.070%, SOFR30A + 4.750%, 02/25/42 (144A) (b)		1,090,000		1,160,639
11.070%, SOFR30A + 5.750%, 09/25/42 (144A) (b)		3,780,000		4,250,082
Federal National Mortgage Association 2.000%, 07/01/36		3,803,430		3,390,218
2.000%, 08/01/41		4,003,239		3,370,844
2.000%, 08/01/51		2,383,436		1,926,335
2.000%, 10/01/51		12,322,787		9,940,602
2.500%, 07/01/41		2,245,410		1,942,673
2.500%, 04/01/51		7,637,058		6,357,846
2.500%, 09/01/51		322,566		271,566
2.500%, 10/01/51		1,433,995		1,204,124
2.500%, 03/01/52		4,698,647		3,935,905
3.000%, 06/01/51		13,883,813		12,005,012
3.500%, 08/01/45		15,409,867		14,063,495
4.000%, 03/01/52		3,456,094		3,209,149
4.500%, 04/01/48		982,037		955,492
4.500%, 04/01/49		39,800		38,498
4.500%, 10/01/49		21,719		21,036
4.500%, 08/01/58		68,579		65,811
7.000%, 07/01/30		154		158
7.000%, 07/01/31		790		815
7.000%, 09/01/31		549		567
7.000%, 10/01/31		755		779
7.000%, 11/01/31		11,827		12,194
7.000%, 01/01/32		3,853		3,972

BHFTII-275

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
7.500%, 01/01/30		122	$	125
7.500%, 02/01/30		177		176
7.500%, 06/01/30		21		21
7.500%, 08/01/30		45		45
7.500%, 09/01/30		233		234
7.500%, 10/01/30		3		3
7.500%, 11/01/30		6,089		6,075
7.500%, 02/01/31		333		333
8.000%, 07/01/30		128		135
8.000%, 09/01/30		254		255
Federal National Mortgage Association Connecticut Avenue Securities 7.820%, SOFR30A + 2.500%, 10/25/43 (144A) (b)		1,810,000		1,856,143
7.820%, SOFR30A + 2.500%, 02/25/44 (144A) (b)		1,100,000		1,106,875
8.020%, SOFR30A + 2.700%, 01/25/44 (144A) (b)		4,650,000		4,675,109
8.420%, SOFR30A + 3.100%, 10/25/41 (144A) (b)		7,990,000		8,219,449
8.835%, SOFR30A + 3.514%, 10/25/39 (144A) (b)		10,831,538		11,140,751
9.220%, SOFR30A + 3.900%, 07/25/43 (144A) (b)		1,470,000		1,544,773
9.535%, SOFR30A + 4.214%, 07/25/39 (144A) (b)		3,249,532		3,382,618
9.785%, SOFR30A + 4.464%, 04/25/31 (144A) (b)		4,998,597		5,374,967
Federal National Mortgage Association REMICS 4.500%, 06/25/29		10,860		10,750
5.785%, SOFR30A + 0.464%, 05/25/34 (b)		30,456		30,205
FREMF Mortgage Trust 11.720%, SOFR30A + 6.400%, 07/25/31 (144A) (b)		2,174,173		2,158,507
Government National Mortgage Association
Zero Coupon, 04/16/52 (b) (l)		1,870,746		19
0.164%, 03/16/47 (b) (l)		68,660		17
0.584%, 07/16/58 (b) (l)		978,656		27,463
2.000%, 02/20/51		797,967		644,181
2.500%, 03/20/51		2,599,480		2,217,309
2.500%, 05/20/51		280,353		236,304
3.500%, 12/20/50		2,480,943		2,277,586
4.500%, 11/20/50		947,288		910,900
4.500%, 12/20/50		160,778		156,461
5.500%, 01/15/34		14,143		14,493
5.500%, 03/20/34		2,331		2,403
5.500%, 04/15/34		4,470		4,581
5.500%, 07/15/34		24,524		25,131
5.500%, 10/15/34		25,063		25,591
5.750%, 10/15/38		22,490		23,406
6.000%, 05/20/32		3,045		3,125
6.000%, 02/15/33		533		552
6.000%, 03/15/33		1,710		1,747
6.000%, 06/15/33		1,022		1,059
6.000%, 07/15/33		2,233		2,297
6.000%, 09/15/33		891		902
6.000%, 10/15/33		926		953
6.000%, 11/20/33		3,781		3,900
6.500%, 02/15/32		178		185
6.500%, 03/15/32		186		190
6.500%, 11/15/32		433		441
Government National Mortgage Association, TBA 2.000%, TBA (m)		100,000		81,911
5.500%, TBA (m)		1,500,000		1,498,591

Agency Sponsored Mortgage - Backed—(Continued)
Multifamily Connecticut Avenue Securities Trust 8.685%, SOFR30A + 3.364%, 10/25/49 (144A) (b)		2,606,304		2,564,787
9.185%, SOFR30A + 3.864%, 03/25/50 (144A) (b)		3,916,150		3,867,451
Seasoned Credit Risk Transfer Trust 4.000%, 07/25/56 (b)		1,744,806		1,729,319
4.250%, 05/25/60 (144A) (b)		4,710,000		4,310,300

				154,553,997


U.S. Treasury—0.0%
U.S. Treasury Bond 4.750%, 11/15/53		460,000		491,050

Total U.S. Treasury & Government Agencies (Cost $166,146,356)				155,045,047


Foreign Government—3.9%

Regional Government—0.7%
Provincia de Buenos Aires 6.375%, 09/01/37 (144A) (f)		24,008,445		9,782,299
Provincia de Cordoba 6.990%, 06/01/27 (144A) (f)		5,515,415		4,246,870

				14,029,169


Sovereign—3.2%
Angola Government International Bonds 8.750%, 04/14/32 (144A)		1,520,000		1,394,834
9.125%, 11/26/49		1,710,000		1,445,377
Bahamas Government International Bond 8.950%, 10/15/32		1,660,000		1,604,275
Brazil Government International Bond 6.000%, 04/07/26		2,970,000		3,009,413
Dominican Republic International Bonds 4.500%, 01/30/30		1,200,000		1,091,913
4.875%, 09/23/32		4,020,000		3,599,010
5.500%, 02/22/29 (144A)		2,100,000		2,035,967
Egypt Government International Bonds 5.800%, 09/30/27		460,000		414,120
7.053%, 01/15/32		1,940,000		1,602,421
El Salvador Government International Bond 6.375%, 01/18/27		500,000		433,864
Ghana Government International Bond 10.750%, 10/14/30		1,630,000		1,103,836
Ivory Coast Government International Bonds 7.625%, 01/30/33 (144A)		6,250,000		6,196,562
8.250%, 01/30/37 (144A)		2,020,000		2,024,040
Jamaica Government International Bond 9.625%, 11/03/30 (JMD)		227,000,000		1,561,582
Jordan Government International Bonds 7.500%, 01/13/29		2,340,000		2,332,297
7.750%, 01/15/28 (144A)		3,150,000		3,187,453
Mexico Bonos 8.500%, 05/31/29 (MXN)		271,470,000		15,796,028
Mexico Government International Bond 6.000%, 05/07/36		4,530,000		4,539,315

BHFTII-276

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Foreign Government—(Continued)


Security Description	Shares/ Principal Amount*		Value

Sovereign—(Continued)
Nigeria Government International Bond 7.143%, 02/23/30		2,600,000	$	2,358,148
Republic of Kenya Government International Bonds 6.300%, 01/23/34		1,520,000		1,239,398
9.750%, 02/16/31 (144A)		6,440,000		6,592,950
Republic of Uzbekistan International Bond 3.900%, 10/19/31		1,650,000		1,359,310
Senegal Government International Bond 6.250%, 05/23/33		1,520,000		1,292,000
Sri Lanka Government International Bond 6.200%, 05/11/27 (g)		1,580,000		928,186
Ukraine Government International Bond 7.375%, 09/25/34 (g)		6,330,000		1,819,875
Uruguay Government International Bond 3.875%, 07/02/40 (UYU) (n)		49,314,550		1,413,169

				70,375,343

Total Foreign Government (Cost $86,690,057)				84,404,512


Convertible Bonds—0.6%

Entertainment—0.2%
DraftKings Holdings, Inc.
Zero Coupon, 03/15/28		6,160,000		5,313,000

Media—0.4%
DISH Network Corp.
Zero Coupon, 12/15/25		9,760,000		7,124,800
Gannett Co., Inc. 6.000%, 12/01/27		695,000		618,550

				7,743,350

Total Convertible Bonds (Cost $13,053,645)				13,056,350


Convertible Preferred Stocks—0.4%

Banks—0.3%
Wells Fargo & Co. - Series L 7.500%		4,965		6,054,073


Pipelines—0.1%
Equitrans Midstream Corp
9.750%		142,893		3,125,784

Total Convertible Preferred Stocks (Cost $8,769,113)				9,179,857


Common Stocks—0.1%

Automobile Components—0.0%
Lear Corp.		399		57,807


Chemicals—0.0%
LyondellBasell Industries NV—Class A		23		2,357


Media—0.0%
Cengage Learning, Inc. (o)		10,995		131,940


Oil, Gas & Consumable Fuels—0.1%
Ascent CNR Corp. - Class A (d) (e) (o)		1,399,556		27,991
Berry Corp. (a)		170,615		1,373,451

				1,401,442

Total Common Stocks (Cost $2,222,896)				1,593,546


Municipals—0.0%
Virginia Housing Development Authority 6.000%, 06/25/34 (Cost $247,731)		250,068		246,707


Escrow Shares—0.0%

Forest Products & Paper—0.0%
Sino Forest Corp. (d) (e) (o)		1,246,000		0
Sino Forest Corp. (d) (e) (o)		500,000		0

Total Escrow Shares (Cost $0)				0


Short-Term Investment—0.3%

Repurchase Agreement—0.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $6,824,127; collateralized by U.S. Treasury Note at 0.625%, maturing 01/15/26, with a market value of $6,958,798.		6,822,232		6,822,232

Total Short-Term Investments (Cost $6,822,232)				6,822,232


Securities Lending Reinvestments (p)—13.5%

Certificates of Deposit—4.0%
Bank of America Corp. 5.560%, SOFR + 0.230%, 07/08/24 (b)		2,000,000		2,000,800
Bank of Montreal 5.630%, SOFR + 0.300%, 03/04/25 (b)		2,000,000		1,999,997
5.880%, SOFR + 0.550%, 11/08/24 (b)		2,000,000		2,004,090
Bank of Nova Scotia 5.630%, SOFR + 0.300%, 03/13/25 (b)		2,000,000		1,999,972
5.640%, SOFR + 0.310%, 03/19/25 (b)		4,000,000		3,999,961
Barclays Bank PLC 5.650%, SOFR + 0.320%, 06/20/24 (b)		3,000,000		3,001,518

BHFTII-277

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (p)—(Continued)


Security Description	Principal Amount*		Value

Certificates of Deposit—(Continued)
Barclays Bank PLC (NY) 5.500%, SOFR + 0.170%, 08/07/24 (b)		2,000,000	$	2,000,210
BNP Paribas SA 5.690%, SOFR + 0.360%, 04/10/24 (b)		2,000,000		2,000,154
Canadian Imperial Bank of Commerce (NY) 5.690%, SOFR + 0.360%, 01/09/25 (b)		3,000,000		3,002,088
Credit Industriel et Commercial
Zero Coupon, 11/18/24		1,000,000		965,990
Mitsubishi UFJ Trust & Banking Corp.
Zero Coupon, 05/09/24		1,000,000		993,770
Zero Coupon, 06/13/24		3,000,000		2,965,770
5.560%, SOFR + 0.240%, 07/11/24 (b)		2,000,000		1,999,977
Mizuho Bank Ltd. 5.500%, SOFR + 0.170%, 08/06/24 (b)		2,000,000		2,000,208
5.730%, SOFR + 0.400%, 04/18/24 (b)		5,000,000		5,000,770
MUFG Bank Ltd. (London)
Zero Coupon, 06/10/24		6,500,000		6,428,760
5.510%, SOFR + 0.200%, 09/23/24 (b)		2,000,000		2,000,000
National Westminster Bank PLC 5.880%, 05/02/24		3,000,000		3,001,470
Nordea Bank Abp 5.450%, SOFR + 0.120%, 07/15/24 (b)		2,000,000		1,999,872
5.480%, SOFR + 0.150%, 07/29/24 (b)		4,000,000		3,999,992
Oversea-Chinese Banking Corp. Ltd. 5.450%, SOFR + 0.120%, 07/19/24 (b)		2,000,000		1,999,940
5.500%, SOFR + 0.170%, 09/16/24 (b)		2,000,000		1,999,872
Skandinaviska Enskilda Banken AB 5.630%, SOFR + 0.300%, 02/06/25 (b)		1,000,000		1,000,054
SMBC Bank International PLC
Zero Coupon, 05/13/24		2,000,000		1,986,360
Standard Chartered Bank 5.720%, SOFR + 0.390%, 04/19/24 (b)		2,000,000		2,000,342
Sumitomo Mitsui Banking Corp. 5.560%, SOFR + 0.230%, 07/11/24 (b)		1,000,000		1,000,319
Sumitomo Mitsui Trust Bank Ltd. 5.730%, SOFR + 0.400%, 04/24/24 (b)		5,000,000		5,001,080
Svenska Handelsbanken AB 5.630%, SOFR + 0.300%, 02/06/25 (b)		1,000,000		1,000,251
5.680%, SOFR + 0.350%, 01/17/25 (b)		2,000,000		2,003,100
5.850%, SOFR + 0.520%, 04/19/24 (b)		5,000,000		5,001,265
Toronto-Dominion Bank 5.710%, SOFR + 0.380%, 01/08/25 (b)		3,000,000		2,999,965
Wells Fargo Bank NA 5.830%, SOFR + 0.500%, 05/14/24 (b)		2,000,000		2,000,980
Westpac Banking Corp. 5.880%, SOFR + 0.550%, 10/11/24 (b)		6,000,000		6,011,268

				87,370,165


Commercial Paper—1.0%
Australia & New Zealand Banking Group Ltd. 5.640%, 04/18/24		4,000,000		3,987,348
5.660%, SOFR + 0.330%, 04/18/24 (b)		4,000,000		4,000,392
Ciesco LLC 5.340%, 04/01/24		2,000,000		1,998,792

Commercial Paper—(Continued)
ING U.S. Funding LLC 5.560%, SOFR + 0.230%, 11/20/24 (b)		3,000,000		2,999,988
5.810%, SOFR + 0.480%, 06/13/24 (b)		5,000,000		5,004,015
Old Line Funding LLC 5.440%, SOFR + 0.110%, 06/07/24 (b)		2,000,000		1,999,996
5.450%, SOFR + 0.120%, 05/08/24 (b)		2,000,000		1,999,994

				21,990,525


Repurchase Agreements—6.5%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $8,003,633; collateralized by various Common Stock with an aggregate market value of $8,910,574.		8,000,000		8,000,000
Barclays Bank PLC Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $9,004,088; collateralized by U.S. Treasury Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 02/28/26 - 08/15/32, and an aggregate market value of $9,210,090.		9,000,000		9,000,000
BofA Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.320%, due on 04/01/24 with a maturity value of $5,730,900; collateralized by U.S. Treasury Obligations with rates ranging from 2.000% - 4.750%, maturity dates ranging from 06/30/24 - 11/15/43, and an aggregate market value of $5,842,928.		5,728,361		5,728,361
Citigroup Global Markets, Inc.
Repurchase Agreement dated 03/29/24 at 5.620%, due on 05/03/24 with a maturity value of $3,016,392; collateralized by various Common Stock with an aggregate market value of $3,300,000.		3,000,000		3,000,000
Repurchase Agreement dated 03/29/24 at 5.870%, due on 09/30/24 with a maturity value of $10,301,653; collateralized by various Common Stock with an aggregate market value of $11,000,003.		10,000,000		10,000,000
National Bank of Canada
Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/05/24 with a maturity value of $60,063,583; collateralized by various Common Stock with an aggregate market value of $66,865,118.		60,000,000		60,000,000
Repurchase Agreement dated 03/29/24 at 5.470%, due on 04/01/24 with a maturity value of $1,000,456; collateralized by various Common Stock with an aggregate market value of $1,115,836.		1,000,000		1,000,000
NBC Global Finance Ltd. Repurchase Agreement dated 03/29/24 at 5.480%, due on 04/01/24 with a maturity value of $18,008,220; collateralized by various Common Stock with an aggregate market value of $20,079,227.		18,000,000		18,000,000
Royal Bank of Canada Toronto Repurchase Agreement dated 03/29/24 at 5.590%, due on 05/03/24 with a maturity value of $15,081,521; collateralized by various Common Stock with an aggregate market value of $16,669,256.		15,000,000		15,000,000

BHFTII-278

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Securities Lending Reinvestments (p)—(Continued)


Security Description	Shares/ Principal Amount*		Value

Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/29/24 at 5.440%, due on 04/01/24 with a maturity value of $1,400,635; collateralized by various Common Stock with an aggregate market value of $1,560,407.		1,400,000	$	1,400,000
TD Prime Services LLC Repurchase Agreement dated 03/29/24 at 5.420%, due on 04/01/24 with a maturity value of $12,005,420; collateralized by various Common Stock with an aggregate market value of $13,201,987.		12,000,000		12,000,000

				143,128,361


Time Deposits—0.6%
Banco Santander SA (NY) 5.310%, 04/01/24		7,000,000		7,000,000
DZ Bank AG (NY) 5.290%, 04/01/24		7,000,000		7,000,000

				14,000,000


Mutual Funds—1.4%
AB Government Money Market Portfolio, Institutional Class 5.210% (q)		1,000,000		1,000,000
Allspring Government Money Market Fund, Select Class 5.250% (q)		22,743		22,743
BlackRock Liquidity Funds FedFund, Institutional Shares 5.200% (q)		2,000,000		2,000,000
Dreyfus Treasury Obligations Cash Management Fund, Institutional Class 5.200% (q)		2,000,000		2,000,000
Fidelity Investments Money Market Government Portfolio, Institutional Class 5.250% (q)		5,000,000		5,000,000
Morgan Stanley Liquidity Funds Government Portfolio, Institutional Shares 5.220% (q)		5,000,000		5,000,000
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 5.260% (q)		2,000,000		2,000,000
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.260% (q)		10,000,000		10,000,000
STIT-Government & Agency Portfolio, Institutional Class 5.230% (q)		3,000,000		3,000,000

				30,022,743

Total Securities Lending Reinvestments (Cost $296,486,894)				296,511,794

Total Purchased Options—0.0% (r) (Cost $734,946)				125,592
Total Investments—111.1% (Cost $2,514,418,273)				2,429,759,834
Unfunded Loan Commitments—(0.1)% (Cost $(1,093,594))				(1,093,594	)
Net Investments—111.1% (Cost $2,513,324,679)				2,428,666,240
Other assets and liabilities (net)—(11.0)%				(241,669,249	)

Net Assets—100.0%			$	2,186,996,991


*		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 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 at an acceptable price may be difficult. As of March 31, 2024, the market value of restricted securities was $36,822,889, which is 1.7% of net assets. See details shown in the Restricted Securities table that follows.
(a)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $343,635,624 and the collateral received consisted of cash in the amount of $296,231,003 and non-cash collateral with a value of $59,701,258. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments. The non-cash collateral received consists of U.S. government securities that are held in safe-keeping by the lending agent, or a third-party custodian, and cannot be sold or repledged by the Portfolio.
(b)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(c)		Payment-in-kind security for which part of the income earned may be paid as additional principal.
(d)		Security was valued in good faith under procedures subject to oversight by the Board of Trustees. As of March 31, 2024, these securities represent 0.2% of net assets.
(e)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(f)		Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(g)		Non-income producing; security is in default and/or issuer is in bankruptcy.
(h)		Floating rate loans (“Senior Loans”) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will generally have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are determined periodically by reference to a base lending rate, plus a spread. These base rates are primarily the Secured Overnight Financing Rate and 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 March 31, 2024, at which time the interest rate will be determined.
(j)		The stated interest rates represent the range of rates at March 31, 2024 of the underlying contracts within the senior loan facility.
(k)		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 to fund these commitments at the borrower’s discretion.
(l)		Interest only security.
(m)		TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(n)		Principal amount of security is adjusted for inflation.
(o)		Non-income producing security.
(p)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.

BHFTII-279

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)


(q)		The rate shown represents the annualized seven-day yield as of March 31, 2024.
(r)		For a breakout of open positions, see details shown in the Purchased Options table that follows.
(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 March 31, 2024, the market value of 144A securities was $1,274,386,624, which is 58.3% of net assets.


Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
American News Co. LLC, 8.500%, 09/01/26		04/24/20-03/01/24	$	12,120,929	$	11,743,213	$	13,514,836
Countrywide Reperforming Loan REMICS Trust, 0.803%, 03/25/35		01/08/15		1,665,004		242,466		65,711
Intesa Sanpaolo SpA, 7.800%, 11/28/53		11/28/23-02/12/24		8,480,000		8,860,030		9,621,055
Midwest Vanadium Pty, Ltd., 13.250%, 02/15/18		05/24/11		931,574		960,686		0
Northwest Acquisitions ULC/Dominion Finco, Inc., 7.125%, 11/01/22		10/06/17-11/21/19		8,475,000		8,571,525		85
PM General Purchaser LLC, 9.500%, 10/01/28		09/21/20-03/14/24		13,345,000		13,294,123		13,621,202

							$	36,822,889

Forward Foreign Currency Exchange Contracts


Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	62,257,195	CBNA		04/19/24		USD	41,742,453	$	(1,154,126	)
BRL	10,120,000	CBNA		04/19/24		USD	2,005,613		8,666
BRL	5,460,000	GSBU		04/19/24		USD	1,092,973		(6,217	)
BRL	5,460,000	GSBU		04/19/24		USD	1,090,027		(3,271	)
BRL	12,650,000	GSBU		04/19/24		USD	2,530,380		(12,530	)
BRL	13,120,000	GSBU		04/19/24		USD	2,625,812		(14,414	)
BRL	14,110,000	MSCS		04/19/24		USD	2,823,864		(15,416	)
BRL	54,293,206	MSCS		04/19/24		USD	10,984,746		(178,253	)
CHF	1,130,000	GSBU		04/19/24		USD	1,272,682		(17,483	)
CHF	1,430,000	GSBU		04/19/24		USD	1,623,331		(34,894	)
CHF	1,470,000	GSBU		04/19/24		USD	1,631,843		1,026
CHF	1,500,000	GSBU		04/19/24		USD	1,663,661		2,531
CHF	1,800,000	GSBU		04/19/24		USD	2,008,969		(9,538	)
CHF	2,120,000	GSBU		04/19/24		USD	2,394,306		(39,421	)
CHF	2,130,000	GSBU		04/19/24		USD	2,404,744		(38,751	)
CHF	2,290,000	GSBU		04/19/24		USD	2,588,536		(44,816	)
CHF	2,390,000	GSBU		04/19/24		USD	2,714,142		(59,342	)
EUR	5,884,000	BNP		04/19/24		USD	6,413,919		(61,929	)
EUR	5,600,000	CBNA		04/19/24		USD	6,055,956		(10,553	)
EUR	1,190,000	JPMC		04/19/24		USD	1,286,938		(2,290	)
IDR	140,218,841,437	CBNA		04/19/24		USD	8,943,669		(104,301	)
IDR	4,404,453,737	JPMC		04/19/24		USD	283,245		(5,589	)
JPY	102,298,649	MSCS		04/19/24		USD	717,107		(39,579	)
MXN	12,122,280	JPMC		04/19/24		USD	707,421		19,841
MXN	218,375,746	JPMC		04/19/24		USD	12,702,689		398,517
MXN	21,054,000	MSCS		04/19/24		USD	1,211,731		51,379
NOK	59,170,000	GSBU		04/19/24		USD	5,456,038		(3,599	)

Contracts to Deliver
CAD	3,841,110	MSCS		04/19/24		USD	2,868,893		32,438
CHF	15,321,100	GSBU		04/19/24		USD	17,416,278		397,679
CHF	2,380,000	GSBU		04/19/24		USD	2,719,003		75,311
CHF	2,290,000	GSBU		04/19/24		USD	2,621,115		77,395
CHF	2,290,000	GSBU		04/19/24		USD	2,599,127		55,407
CHF	2,010,000	GSBU		04/19/24		USD	2,273,856		41,158
CHF	1,430,000	GSBU		04/19/24		USD	1,633,241		44,804
CHF	1,190,000	GSBU		04/19/24		USD	1,360,518		38,672
CHF	1,130,000	GSBU		04/19/24		USD	1,342,398		87,200

BHFTII-280

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)


Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
CHF	10,000	GSBU		04/19/24		USD	11,429	$	321
CNH	17,910,000	BNP		04/19/24		USD	2,495,525		28,338
CNH	60,360,400	JPMC		04/19/24		USD	8,484,377		169,448
EUR	21,244,974	CBNA		04/19/24		USD	23,411,558		476,840
EUR	10,230,000	CBNA		04/19/24		USD	11,040,318		(3,337	)
EUR	2,540,000	GSBU		04/19/24		USD	2,764,112		22,090
EUR	2,180,000	GSBU		04/19/24		USD	2,370,390		17,001
EUR	2,140,000	GSBU		04/19/24		USD	2,326,428		16,221
GBP	33,006,375	CBNA		04/19/24		USD	42,085,109		422,482
GBP	2,600,000	CBNA		04/19/24		USD	3,286,502		4,626
IDR	144,623,295,174	JPMC		04/19/24		USD	9,342,590		225,566
MXN	22,876,000	JPMC		04/19/24		USD	1,323,507		(48,913	)
MXN	185,860,812	MSCS		04/19/24		USD	10,821,275		(329,234	)
MXN	21,088,000	MSCS		04/19/24		USD	1,217,491		(47,660	)
NOK	550	BNP		04/19/24		USD	53		3

Net Unrealized Appreciation								$	429,504

Futures Contracts


Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
3 Month SOFR Futures		03/18/25		410			USD	97,815,750		$	(1,223,611	)
3 Month SONIA Futures		03/18/25		5			GBP	1,195,063			13,323
3 Month SONIA Futures		09/17/24		296			GBP	70,329,600			619,752
Australian 10 Year Treasury Bond Futures		06/17/24		202			AUD	23,548,314			(5,127	)
Euro-Bund Futures		06/06/24		510			EUR	68,023,800			616,064
U.S. Treasury Long Bond Futures		06/18/24		481			USD	57,930,438			952,865
U.S. Treasury Note 10 Year Futures		06/18/24		222			USD	24,596,906			82,866
U.S. Treasury Note 2 Year Futures		06/28/24		2,402			USD	491,171,471			(875,670	)
U.S. Treasury Note 5 Year Futures		06/28/24		1,628			USD	174,221,438			540,488
U.S. Treasury Note Ultra 10 Year Futures		06/18/24		386			USD	44,239,219			275,910
U.S. Treasury Ultra Long Bond Futures		06/18/24		868			USD	111,972,000			1,688,341
United Kingdom Long Gilt Bond Futures		06/26/24		382			GBP	38,177,080			754,933

Futures Contracts—Short
3 Month SOFR Futures		06/18/24		(167	)		USD	(39,525,769	)		(41,349	)
Euro-Buxl 30 Year Bond Futures		06/06/24		(25	)		EUR	(3,395,000	)		(100,905	)

Net Unrealized Appreciation										$	3,297,880

Purchased Options


Foreign Currency Options	Strike Price			Counterparty		Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
AUD Call/USD Put		USD	0.669		BNP		04/17/24		17,027,906		USD	17,027,906	$	190,031	$	10,472	$	(179,559	)

BHFTII-281

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Purchased Options—(Continued)


Options on Exchange-Traded Futures Contracts	Strike Price			Expiration Date		Number of Contracts		Notional Amount		Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
Put - S&P 500 Index E-Mini Futures		USD	4,850.000		04/19/24		169		USD 8,450	$	327,792	$	26,618	$	(301,174	)
Put - S&P 500 Index E-Mini Futures		USD	4,800.000		05/17/24		69		USD 3,450		108,820		33,465		(75,355	)
Put - S&P 500 Index E-Mini Futures		USD	4,900.000		06/21/24		37		USD 1,850		108,303		55,037		(53,266	)

Totals										$	544,915	$	115,120	$	(429,795	)

Written Options


Foreign Currency Options	Strike Price			Counterparty		Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
MXN Call/USD Put		MXN	16.796		CBNA		06/03/24		(8,393,680	)		USD	(8,393,680	)	$	(47,592	)	$	(115,833	)	$	(68,241	)


Options on Exchange-Traded Futures Contracts	Strike Price			Expiration Date		Number of Contracts		Notional Amount		Premiums Received		Market Value		Unrealized Appreciation/ (Depreciation)
Put - S&P 500 Index E-Mini Futures		USD	4,500.000		04/19/24		(169)		USD (8,450)	$	(109,495)	$	(13,942)	$	95,553

Swap Agreements

Centrally Cleared Interest Rate Swaps


Pay/Receive Floating Rate	Floating Rate Index		Payment Frequency		Fixed Rate			Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid/(Received)		Unrealized Appreciation/ (Depreciation)
Pay		28-Day TIIE		Monthly		7.440	%	Monthly		07/20/29		MXN	1,162,650,000	$	(4,119,005	)	$	316,664	$	(4,435,669	)
Pay		28-Day TIIE		Monthly		7.450	%	Monthly		07/18/29		MXN	1,118,490,000		(3,930,662	)		250,990		(4,181,652	)

Totals														$	(8,049,667	)	$	567,654	$	(8,617,321	)

OTC Interest Rate Swaps

Pay/Receive
Floating Rate

Floating
Rate Index

Payment
Frequency

Fixed
Rate

Payment
Frequency

Maturity
Date

Counterparty

Notional
Amount

Market
Value

Upfront
Premium
Paid/(Received)

Unrealized
Appreciation/
(Depreciation)⁽¹⁾

Pay

1-Day CDI

Maturity

10.230

Maturity

01/02/29

JPMC

BRL

179,120,000

(534,073

)

—

(534,073

)

Centrally Cleared Credit Default Swaps on Credit Indices and Corporate Issues—Buy Protection (a)


Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Implied Credit Spread at March 31, 2024^(b)			Notional Amount^(c)			Market Value			Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
CDX.NA.HY.42		(5.000	%)		Quarterly		06/20/29		3.289	%		USD	7,937,000	$	(572,274	)	$	(557,007	)	$	(15,267	)
General Motors Co. 4.200%, due 10/01/27		(5.000	%)		Quarterly		06/20/26		0.357	%		USD	13,700,000		(1,344,515	)		(1,186,290	)		(158,225	)
Macy’s Retail Holdings LLC 4.500%, due 12/15/34		(1.000	%)		Quarterly		12/20/28		3.603	%		USD	4,799,000		501,306			604,582			(103,276	)

Totals														$	(1,415,483	)	$	(1,138,715	)	$	(276,768	)

BHFTII-282

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Centrally Cleared Credit Default Swaps on Corporate Issues—Sell Protection (d)


Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Implied Credit Spread at March 31, 2024 (b)			Notional Amount^(c)			Market Value			Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Ford Motor Co. 4.346%, due 12/08/26		5.000	%		Quarterly		06/20/26		0.531	%		USD	13,700,000	$	1,289,635		$	882,620		$	407,015
Nordstrom, Inc. 6.950%, due 03/15/28		1.000	%		Quarterly		12/20/28		3.758	%		USD	4,799,000		(525,493	)		(651,089	)		125,596

Totals														$	764,142		$	231,531		$	532,611

OTC Credit Default Swaps on Corporate Issues—Buy Protection (a)


Reference Obligation	Fixed Deal (Pay) Rate			Payment Frequency		Maturity Date		Counterparty		Implied Credit Spread at March 31, 2024 (b)			Notional Amount (c)			Market Value			Upfront Premium Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Daimler AG 1.400%, due 01/12/24		(1.000	%)		Quarterly		12/20/24		MSCS		0.126	%		EUR	11,300,000	$	(77,296	)	$	(36,140	)	$	(41,156	)

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


Reference Obligation	Fixed Deal Receive Rate			Payment Frequency		Maturity Date		Counterparty		Implied Credit Spread at March 31, 2024 (b)			Notional Amount (c)			Market Value		Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)
Volkswagen International Finance NV 5.547%, due 11/16/24		1.000	%		Quarterly		12/20/24		MSCS		0.336	%		EUR	11,300,000	$	58,643	$	18,943	$	39,700


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

Securities in the amount of $20,245 have been received at the custodian bank as collateral for OTC swap contracts, and forward foreign currency exchange contracts.

BHFTII-283

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Glossary of Abbreviations

Counterparties


(BNP)—		BNP Paribas SA
(CBNA)—		Citibank NA
(GSBU)—		Goldman Sachs Bank USA
(JPMC)—		JPMorgan Chase Bank NA
(MSCS)—		Morgan Stanley Capital Services LLC

Currencies


(AUD)—		Australian Dollar
(BRL)—		Brazilian Real
(CAD)—		Canadian Dollar
(CHF)—		Swiss Franc
(CNH)—		Chinese Renminbi
(EUR)—		Euro
(GBP)—		British Pound
(IDR)—		Indonesian Rupiah
(INR)—		Indian Rupee
(JMD)—		Jamaican Dollar
(JPY)—		Japanese Yen
(MXN)—		Mexican Peso
(NOK)—		Norwegian Krone
(USD)—		United States Dollar
(UYU)—		Uruguayan Peso

Index Abbreviations


(CDI)—		Brazil Interbank Deposit Rate
(CDX.NA.HY)—		Markit North America High Yield CDS Index
(H15)—		U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(MTA)—		Monthly Treasury Average Index
(PRIME)—		U.S. Federal Reserve Prime Rate
(SOFR)—		Secured Overnight Financing Rate
(SOFR30A)—		Secured Overnight Financing Rate 30-Day Average
(SONIA)—		Sterling Overnight Index Average Deposit Rate
(TIIE)—		Mexican Interbank Equilibrium Interest Rate
(TSFR)—		Term Secured Overnight Financing Rate
(UKG)—		U.K. Government Bond

Other Abbreviations


(CLO)—		Collateralized Loan Obligation
(DAC)—		Designated Activity Company
(ICE)—		Intercontinental Exchange, Inc.
(REMIC)—		Real Estate Mortgage Investment Conduit
(STACR)—		Structured Agency Credit Risk

Fair Value Hierarchy

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 following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1		Level 2		Level 3		Total
Corporate Bonds & Notes
Aerospace/Defense	$	—	$	24,853,713	$	—	$	24,853,713
Agriculture		—		3,971,199		—		3,971,199
Airlines		—		36,743,095		—		36,743,095
Auto Manufacturers		—		41,943,140		—		41,943,140
Auto Parts & Equipment		—		11,705,552		—		11,705,552
Banks		—		103,109,582		—		103,109,582
Biotechnology		—		4,966,534		—		4,966,534
Building Materials		—		11,243,119		—		11,243,119
Chemicals		—		1,615,894		—		1,615,894
Coal		—		1,779,770		—		1,779,770
Commercial Services		—		51,896,015		—		51,896,015
Computers		—		4,314,366		—		4,314,366
Distribution/Wholesale		—		16,700,718		—		16,700,718
Diversified Financial Services		—		52,796,074		4,744,648		57,540,722
Electric		—		19,392,810		—		19,392,810
Energy-Alternate Sources		—		4,235,700		—		4,235,700

BHFTII-284

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy—(Continued)


Description	Level 1		Level 2		Level 3		Total
Engineering & Construction	$	—	$	15,656,600	$	—	$	15,656,600
Entertainment		—		27,315,260		—		27,315,260
Environmental Control		—		12,753,015		—		12,753,015
Food		—		3,018,917		—		3,018,917
Food Service		—		2,401,415		—		2,401,415
Forest Products & Paper		—		3,700,031		—		3,700,031
Healthcare-Products		—		9,135,122		—		9,135,122
Healthcare-Services		—		33,345,071		—		33,345,071
Holding Companies-Diversified		—		3,497,070		—		3,497,070
Home Builders		—		7,068,613		—		7,068,613
Housewares		—		4,852,659		—		4,852,659
Insurance		—		19,457,303		—		19,457,303
Internet		—		12,921,011		—		12,921,011
Iron/Steel		—		4,298,262		—		4,298,262
Leisure Time		—		43,993,434		—		43,993,434
Lodging		—		22,715,084		—		22,715,084
Machinery-Construction & Mining		—		3,824,116		—		3,824,116
Machinery-Diversified		—		4,938,497		—		4,938,497
Media		—		57,997,286		—		57,997,286
Metal Fabricate/Hardware		—		6,607,919		—		6,607,919
Mining		—		37,983,131		0		37,983,131
Multi-National		—		10,690,923		—		10,690,923
Office/Business Equipment		—		1,457,712		—		1,457,712
Oil & Gas		—		151,533,221		—		151,533,221
Packaging & Containers		—		10,768,947		—		10,768,947
Pharmaceuticals		—		26,328,681		—		26,328,681
Pipelines		—		82,269,227		—		82,269,227
Real Estate		—		6,409,947		—		6,409,947
Real Estate Investment Trusts		—		12,589,382		—		12,589,382
Retail		—		41,136,105		—		41,136,105
Software		—		12,592,728		—		12,592,728
Telecommunications		—		16,644,396		—		16,644,396
Transportation		—		7,410,285		—		7,410,285
Total Corporate Bonds & Notes		—		1,108,578,651		4,744,648		1,113,323,299
Total Floating Rate Loans (Less Unfunded Loan Commitments of $1,093,594)*		—		313,388,934		—		313,388,934
Total Mortgage-Backed Securities*		—		235,495,463		—		235,495,463
Total Asset-Backed Securities*		—		199,472,907		—		199,472,907
Total U.S. Treasury & Government Agencies*		—		155,045,047		—		155,045,047
Total Foreign Government*		—		84,404,512		—		84,404,512
Total Convertible Bonds*		—		13,056,350		—		13,056,350
Total Convertible Preferred Stocks*		9,179,857		—		—		9,179,857
Common Stocks
Automobile Components		57,807		—		—		57,807
Chemicals		2,357		—		—		2,357
Media		131,940		—		—		131,940
Oil, Gas & Consumable Fuels		1,373,451		—		27,991		1,401,442
Total Common Stocks		1,565,555		—		27,991		1,593,546
Total Municipals*		—		246,707		—		246,707
Total Escrow Shares*		—		—		0		0
Total Short-Term Investment*		—		6,822,232		—		6,822,232
Securities Lending Reinvestments
Certificates of Deposit		—		87,370,165		—		87,370,165
Commercial Paper		—		21,990,525		—		21,990,525
Repurchase Agreements		—		143,128,361		—		143,128,361
Time Deposits		—		14,000,000		—		14,000,000
Mutual Funds		30,022,743		—		—		30,022,743
Total Securities Lending Reinvestments		30,022,743		266,489,051		—		296,511,794

BHFTII-285

Brighthouse Funds Trust II

Western Asset Management Strategic Bond Opportunities Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy—(Continued)


Description	Level 1			Level 2			Level 3		Total
Purchased Options
Foreign Currency Options at Value	$	—		$	10,472		$	—	$	10,472
Options on Exchange-Traded Futures Contracts at Value		115,120			—			—		115,120
Total Purchased Options		115,120			10,472			—		125,592
Total Net Investments	$	40,883,275		$	2,383,010,326		$	4,772,639	$	2,428,666,240

Collateral for Securities Loaned (Liability)	$	—		$	(296,231,003	)	$	—	$	(296,231,003	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	2,714,960		$	—	$	2,714,960
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(2,285,456	)		—		(2,285,456	)
Total Forward Contracts	$	—		$	429,504		$	—	$	429,504
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	5,544,542		$	—		$	—	$	5,544,542
Futures Contracts (Unrealized Depreciation)		(2,246,662	)		—			—		(2,246,662	)
Total Futures Contracts	$	3,297,880		$	—		$	—	$	3,297,880
Written Options
Foreign Currency Options at Value	$	—		$	(115,833	)	$	—	$	(115,833	)
Options on Exchange-Traded Futures Contracts at Value		(13,942	)		—			—		(13,942	)
Total Written Options	$	(13,942	)	$	(115,833	)	$	—	$	(129,775	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	532,611		$	—	$	532,611
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(8,894,089	)		—		(8,894,089	)
Total Centrally Cleared Swap Contracts	$	—		$	(8,361,478	)	$	—	$	(8,361,478	)
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	58,643		$	—	$	58,643
OTC Swap Contracts at Value (Liabilities)		—			(611,369	)		—		(611,369	)
Total OTC Swap Contracts	$	—		$	(552,726	)	$	—	$	(552,726	)


*		See Schedule of Investments for additional detailed categorizations.

BHFTII-286

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

U.S. Treasury & Government Agencies — 91.1% of Net Assets


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—41.3%
Federal Home Loan Mortgage Corp.
1.500%, 05/01/41		3,745,882	$	3,069,067
1.500%, 07/01/41		2,766,409		2,258,835
1.500%, 10/01/41		667,769		543,794
1.500%, 11/01/41		84,307		68,620
2.000%, 09/01/40		356,905		302,172
2.000%, 10/01/40		2,259,554		1,912,100
2.000%, 06/01/41		233,109		196,534
2.000%, 07/01/41		2,225,933		1,878,061
2.000%, 08/01/41		1,603,273		1,349,720
2.000%, 09/01/41		3,292,448		2,769,532
2.000%, 11/01/41		1,362,450		1,151,890
2.000%, 12/01/41		3,223,359		2,706,938
2.000%, 01/01/42		2,408,271		2,021,507
2.000%, 02/01/42		428,058		359,157
2.000%, 04/01/42		87,193		73,095
2.000%, 05/01/42		500,000		417,819
2.000%, 08/01/42		2,469,128		2,070,798
2.000%, 11/01/50		829,198		668,726
2.000%, 02/01/51		2,133,438		1,720,909
2.000%, 03/01/51		2,266,310		1,828,584
2.000%, 04/01/51		1,896,474		1,536,233
2.000%, 05/01/51		3,470,528		2,786,871
2.000%, 06/01/51		4,509,211		3,619,376
2.000%, 11/01/51		506,962		407,849
2.000%, 02/01/52		89,456		71,915
2.107%, 5Y H15 + 1.285%, 03/01/47 (a)		234,202		217,477
2.500%, 04/01/41		142,996		124,640
2.500%, 04/01/42		698,646		600,724
2.500%, 10/01/50		1,068,549		902,062
2.500%, 11/01/50		3,464,254		2,924,487
2.500%, 12/01/50		3,840,164		3,237,157
2.500%, 01/01/51		460,965		384,747
2.500%, 03/01/51		212,171		179,889
2.500%, 05/01/51		152,686		129,742
2.500%, 07/01/51		4,465,483		3,735,506
2.500%, 08/01/51		2,859,864		2,405,151
2.500%, 09/01/51		1,441,129		1,211,687
2.500%, 11/01/51		834,474		704,781
2.500%, 01/01/52		13,166,012		11,051,270
2.500%, 02/01/52		1,117,203		939,724
2.500%, 03/01/52		608,043		511,267
2.875%, 1Y RFUCCT + 1.619%, 11/01/47 (a)		889,694		860,366
3.000%, 09/01/32		155,892		147,437
3.000%, 04/01/38		313,764		286,327
3.000%, 10/01/46		245,328		216,143
3.000%, 04/01/47		437,292		385,036
3.000%, 09/01/48		1,012,649		891,747
3.000%, 09/01/49		3,027,570		2,661,981
3.000%, 11/01/49		664,690		583,500
3.000%, 01/01/50		42,183		37,236
3.000%, 03/01/50		57,334		50,331
3.000%, 05/01/50		173,669		152,699
3.000%, 03/01/52		527,824		454,634
3.000%, 04/01/52		787,422		678,172
3.007%, 1Y RFUCCT + 1.627%, 11/01/48 (a)		3,040,168		2,862,052

Agency Sponsored Mortgage - Backed—(Continued)
Federal Home Loan Mortgage Corp.
3.096%, 1Y RFUCCT + 1.621%, 02/01/50 (a)		1,498,816		1,414,955
3.500%, 04/01/33		1,416,635		1,362,590
3.500%, 01/01/38		1,723,411		1,613,664
3.500%, 10/01/42		372,348		340,674
3.500%, 02/01/44		144,823		132,144
3.500%, 06/01/46		244,225		223,628
3.500%, 03/01/47		183,291		167,118
3.500%, 07/01/47		3,963,987		3,614,153
3.500%, 01/01/48		78,784		71,831
3.500%, 04/01/52		1,581,421		1,434,303
4.000%, 04/01/43		507,207		481,633
4.000%, 07/01/43		1,390,397		1,330,875
4.000%, 08/01/43		1,284,025		1,227,301
4.500%, 06/01/38		428,500		419,474
4.500%, 04/01/47		257,494		249,451
4.500%, 05/01/47		242,244		235,467
4.500%, 06/01/47		440,439		429,559
4.500%, 04/01/49		210,810		204,197
4.500%, 06/01/52		3,902,103		3,740,806
5.000%, 08/01/33		7,805		7,856
5.000%, 06/01/41		871,389		861,904
5.000%, 04/01/44		16,590		16,535
5.000%, 07/01/52		1,770,253		1,735,306
5.000%, 12/01/52		366,630		358,877
5.000%, 01/01/53		999,309		977,988
5.000%, 03/01/53		556,852		547,543
5.000%, 04/01/53		776,419		759,624
5.000%, 05/01/53		1,218,650		1,198,838
5.500%, 04/01/53		2,251,446		2,244,282
5.500%, 05/01/53		281,527		280,195
5.500%, 07/01/53		386,469		385,237
5.500%, 08/01/53		2,575,656		2,568,405
5.500%, 09/01/53		488,364		488,284
6.000%, 07/01/41		200,000		207,139
6.000%, 07/01/53		187,222		190,919
6.000%, 09/01/53		976,548		993,147
6.500%, 09/01/39		79,625		82,967
6.500%, 07/01/53		185,198		192,601
8.000%, 09/01/30		1,007		1,040
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
0.363%, 12/25/28 (a) (b)		62,790,220		926,382
0.482%, 01/25/34 (a) (b)		52,229,389		1,727,320
0.508%, 01/25/29 (a) (b)		84,544,832		1,790,102
0.741%, 09/25/27 (a) (b)		16,671,573		359,532
0.849%, 11/25/30 (a) (b)		31,691,381		1,373,869
0.878%, 11/25/30 (a) (b)		76,394,784		3,455,313
3.291%, 03/25/27		4,670,000		4,454,905
Federal Home Loan Mortgage Corp. REMICS
2.000%, 02/25/51 (b)		1,689,863		217,390
2.000%, 03/25/51 (b)		6,230,592		788,074
2.500%, 05/25/50 (b)		700,360		109,668
2.500%, 01/25/51 (b)		21,857,453		3,516,928
2.500%, 10/25/51 (b)		1,396,739		239,685
3.000%, 11/25/50 (b)		1,226,669		200,205
3.000%, 11/25/51 (b)		1,458,309		208,756

BHFTII-287

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal Home Loan Mortgage Corp. REMICS
4.000%, 11/25/49 (b)		595,881	$	99,166
4.000%, 02/25/50 (b)		1,054,051		209,445
4.500%, 04/15/32		100,961		99,284
4.500%, 10/25/49 (b)		981,449		222,253
4.500%, 06/25/50 (b)		3,112,799		706,095
4.500%, 12/25/50 (b)		1,936,433		438,883
4.500%, 11/25/51 (b)		1,490,091		334,259
6.000%, 05/15/36		156,643		161,085
Federal Home Loan Mortgage Corp. STACR REMICS Trust
6.620%, SOFR30A + 1.300%, 02/25/42 (144A) (a)		218,233		218,745
6.820%, SOFR30A + 1.500%, 10/25/41 (144A) (a)		2,270,000		2,273,257
7.420%, SOFR30A + 2.100%, 10/25/33 (144A) (a)		980,000		997,123
7.720%, SOFR30A + 2.400%, 02/25/42 (144A) (a)		3,420,000		3,481,847
Federal Home Loan Mortgage Corp. STRIPS
2.000%, 03/25/52 (b)		777,961		103,241
4.000%, 11/15/52 (b)		475,402		99,023
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes
7.620%, SOFR30A + 2.300%, 08/25/33 (144A) (a)		1,668,628		1,701,617
Federal National Mortgage Association
1.500%, 04/01/41		312,768		256,431
1.500%, 11/01/41		3,373,210		2,745,870
1.500%, 03/01/42		1,477,632		1,202,819
2.000%, 08/01/40		67,057		56,841
2.000%, 10/01/40		4,061,321		3,436,233
2.000%, 11/01/41		3,868,526		3,249,421
2.000%, 12/01/41		502,493		421,895
2.000%, 02/01/42		424,740		356,455
2.000%, 04/01/42		1,220,996		1,023,813
2.000%, 05/01/42		1,390,379		1,161,325
2.000%, 06/01/42		3,636,744		3,050,742
2.000%, 08/01/42		2,242,734		1,880,933
2.000%, 08/01/50		127,788		103,212
2.000%, 09/01/50		62,088		50,060
2.000%, 01/01/51		5,931,462		4,783,915
2.000%, 02/01/51		2,193,395		1,778,697
2.000%, 03/01/51		5,603,011		4,521,315
2.000%, 04/01/51		728,804		589,636
2.000%, 08/01/51		931,506		744,602
2.000%, 10/01/51		1,881,341		1,517,649
2.000%, 02/01/52		941,124		756,324
2.000%, 03/01/52		2,490,444		2,004,620
2.500%, 10/01/40		2,697,559		2,352,669
2.500%, 03/01/41		445,394		388,227
2.500%, 04/01/41		759,549		662,058
2.500%, 05/01/41		1,720,019		1,502,561
2.500%, 03/01/42		2,802,316		2,434,415
2.500%, 04/01/42		260,604		224,586
2.500%, 05/01/42		174,308		150,433
2.500%, 06/01/50		415,115		348,134
2.500%, 10/01/50		2,288,100		1,909,030
2.500%, 11/01/50		405,691		341,249
2.500%, 12/01/50		206,985		173,210
2.500%, 01/01/51		300,530		252,936
2.500%, 02/01/51		170,755		143,985
2.500%, 03/01/51		364,270		307,152

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
2.500%, 04/01/51		595,893		503,192
2.500%, 05/01/51		1,523,892		1,266,413
2.500%, 06/01/51		2,548,191		2,142,176
2.500%, 07/01/51		2,394,524		2,018,646
2.500%, 08/01/51		816,487		686,370
2.500%, 09/01/51		2,135,148		1,799,528
2.500%, 10/01/51		3,156,318		2,648,244
2.500%, 11/01/51		1,376,966		1,161,458
2.500%, 12/01/51		8,146,000		6,834,610
2.500%, 01/01/52		3,370,133		2,825,192
2.500%, 02/01/52		2,871,249		2,410,257
2.500%, 03/01/52		1,403,442		1,176,900
2.500%, 04/01/52		348,096		291,783
2.500%, 09/01/61		5,033,133		4,026,768
3.000%, 07/01/35		383,420		355,107
3.000%, 02/01/36		599,997		553,831
3.000%, 04/01/36		447,755		413,518
3.000%, 07/01/36		959,142		883,462
3.000%, 08/01/36		4,997,267		4,600,951
3.000%, 10/01/36		1,985,202		1,825,031
3.000%, 12/01/36		1,649,809		1,516,616
3.000%, 12/01/37		377,027		342,630
3.000%, 06/01/38		506,565		467,186
3.000%, 09/01/42		1,059,592		950,400
3.000%, 06/01/43		156,426		139,654
3.000%, 07/01/43		383,199		342,113
3.000%, 10/01/43		354,739		316,745
3.000%, 01/01/45		319,327		285,132
3.000%, 08/01/46		338,729		298,379
3.000%, 09/01/46		251,123		221,209
3.000%, 02/01/47		76,798		68,566
3.000%, 08/01/47		37,193		32,834
3.000%, 11/01/48		3,365,344		2,963,857
3.000%, 01/01/50		81,700		71,846
3.000%, 02/01/50		10,078,035		8,864,976
3.000%, 03/01/50		5,371,867		4,712,794
3.000%, 08/01/50		326,814		285,102
3.000%, 11/01/50		490,440		431,769
3.000%, 06/01/51		355,554		313,405
3.000%, 08/01/51		1,763,461		1,552,018
3.000%, 09/01/51		304,356		263,928
3.000%, 11/01/51		394,212		346,605
3.000%, 12/01/51		650,738		571,756
3.000%, 01/01/52		1,390,999		1,222,664
3.000%, 03/01/52		4,218,815		3,699,773
3.500%, 12/01/34		111,525		105,614
3.500%, 01/01/35		76,326		72,266
3.500%, 02/01/37		135,732		127,901
3.500%, 03/01/37		87,299		82,898
3.500%, 12/01/37		143,271		134,131
3.500%, 08/01/39		140,845		132,924
3.500%, 02/01/40		556,598		519,642
3.500%, 06/01/42		2,201,514		2,019,659
3.500%, 08/01/42		2,490,628		2,278,782
3.500%, 09/01/42		182,042		166,557
3.500%, 10/01/42		1,284,618		1,175,346

BHFTII-288

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
3.500%, 12/01/42		144,476	$	132,850
3.500%, 03/01/43		897,589		828,356
3.500%, 12/01/46		1,474,810		1,354,325
3.500%, 03/01/47		126,493		115,339
3.500%, 11/01/48		371,392		338,888
3.500%, 06/01/49		9,186,231		8,376,229
3.500%, 03/01/50		143,974		130,828
3.500%, 01/01/52		755,211		685,832
3.500%, 03/01/52		1,260,413		1,143,240
3.500%, 05/01/52		2,979,876		2,700,302
4.000%, 02/01/40		286,946		273,004
4.000%, 06/01/42		2,054,118		1,958,331
4.000%, 07/01/42		613,539		581,521
4.000%, 10/01/42		691,080		655,418
4.000%, 11/01/42		476,673		452,078
4.000%, 05/01/43		5,215,556		4,986,143
4.000%, 07/01/43		17,791		16,873
4.000%, 08/01/43		442,756		419,901
4.000%, 10/01/43		2,618,462		2,503,221
4.000%, 09/01/44		404,445		383,191
4.000%, 05/01/48		3,157,876		2,981,814
4.000%, 10/01/48		1,609,402		1,513,360
4.230%, 10/01/32		100,000		96,540
4.500%, 11/01/31		166,582		164,168
4.500%, 12/01/31		216,612		213,211
4.500%, 10/01/44		505,683		493,426
4.500%, 01/01/45		40,359		39,618
4.500%, 06/01/47		154,977		150,978
4.500%, 07/01/47		561,359		545,838
4.500%, 08/01/47		39,173		38,215
4.500%, 06/01/48		198,893		193,602
4.500%, 07/01/48		433,760		420,693
4.500%, 08/01/48		703,804		682,601
4.500%, 11/01/48		370,235		359,081
4.500%, 02/01/49		145,798		141,060
4.500%, 08/01/49		159,969		155,546
4.500%, 09/01/49		1,933,550		1,875,357
4.500%, 11/01/49		564,936		551,019
4.500%, 04/01/50		107,136		102,519
4.500%, 06/01/52		251,810		239,888
4.500%, 07/01/52		3,795,432		3,626,627
4.500%, 08/01/58		720,075		691,016
4.500%, 01/01/59		1,489,195		1,418,039
4.820%, 07/01/33		100,000		100,369
5.000%, 01/01/39		3,170		3,187
5.000%, 12/01/39		5,114		5,103
5.000%, 05/01/40		13,678		13,645
5.000%, 07/01/40		9,780		9,759
5.000%, 11/01/40		250,657		250,123
5.000%, 01/01/41		14,564		14,527
5.000%, 02/01/41		19,941		20,046
5.000%, 04/01/41		28,051		27,956
5.000%, 05/01/41		597,667		596,130
5.000%, 06/01/41		51,039		50,867
5.000%, 12/01/47		1,224,305		1,230,737
5.000%, 06/01/52		427,377		421,471

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association
5.000%, 07/01/52		1,279,216		1,271,066
5.000%, 10/01/52		646,536		632,191
5.000%, 11/01/52		696,563		679,763
5.000%, 12/01/52		84,071		82,209
5.000%, 01/01/53		473,082		462,721
5.000%, 02/01/53		468,285		458,605
5.000%, 06/01/53		861,696		849,859
5.000%, 07/01/53		747,391		743,943
5.490%, 10/01/33		99,613		103,916
5.500%, 10/01/33		99,613		103,988
5.500%, 08/01/52		163,341		162,577
5.500%, 10/01/52		179,203		178,797
5.500%, 11/01/52		1,939,609		1,934,772
5.500%, 04/01/53		380,675		379,815
5.500%, 05/01/53		649,207		646,733
5.500%, 06/01/53		1,854,295		1,847,955
5.500%, 07/01/53		572,736		573,061
5.500%, 08/01/53		1,084,407		1,086,674
6.000%, 07/01/41		170,542		176,683
6.000%, 12/01/52		1,221,905		1,236,435
6.000%, 03/01/53		749,441		759,417
6.000%, 06/01/53		5,485,748		5,592,971
6.000%, 07/01/53		282,829		291,143
6.000%, 11/01/53		585,972		594,341
6.500%, 03/01/26		186		190
6.500%, 04/01/29		16,992		17,589
6.500%, 05/01/32		3,346		3,389
6.500%, 10/01/53		1,765,658		1,807,513
6.500%, 12/01/53		1,652,717		1,698,703
6.500%, 03/01/54		1,200,000		1,233,117
7.000%, 02/01/29		159		164
7.000%, 11/01/37		11,929		12,299
7.000%, 12/01/37		6,321		6,517
7.000%, 02/01/38		2,347		2,419
7.000%, 11/01/38		25,607		26,517
7.000%, 02/01/39		286,184		301,392
8.000%, 05/01/28		200		200
8.000%, 07/01/32		583		592
Federal National Mortgage Association Interest STRIPS
2.000%, 03/25/50 (b)		2,457,182		299,236
2.500%, 01/25/48 (b)		899,770		103,069
3.500%, 11/25/41 (b)		569,782		88,754
4.000%, 04/25/42 (b)		821,092		152,408
4.500%, 11/25/39 (b)		457,848		87,692
Federal National Mortgage Association REMICS
Zero Coupon, 03/25/42 (c)		118,602		105,985
0.715%, -1x SOFR30A + 6.036%, 03/25/42 (a) (b)		1,929,270		103,646
0.715%, -1x SOFR30A + 6.036%, 12/25/42 (a) (b)		216,603		25,767
1.115%, -1x SOFR30A + 6.436%, 10/25/41 (a) (b)		1,366,612		88,834
1.215%, -1x SOFR30A + 6.536%, 03/25/42 (a) (b)		466,504		28,501
2.000%, 10/25/50 (b)		4,654,223		569,460
2.500%, 10/25/47 (b)		783,057		113,598
2.500%, 12/25/47 (b)		826,576		111,467
2.500%, 04/25/48 (b)		807,090		116,925
2.500%, 08/25/50 (b)		9,995,308		1,616,757
2.500%, 09/25/50 (b)		692,554		109,367

BHFTII-289

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Federal National Mortgage Association REMICS
2.500%, 02/25/51 (b)		2,155,899	$	314,788
2.500%, 10/25/51 (b)		1,893,479		324,884
3.000%, 08/25/50 (b)		1,328,621		209,531
3.000%, 02/25/51 (b)		650,479		103,504
3.500%, 10/25/48		32,208		29,338
3.500%, 09/25/50 (b)		1,873,951		313,646
3.500%, 03/25/51 (b)		524,260		110,663
4.570%, 01/25/43 (a)		98,540		93,924
5.500%, 07/25/41		2,620,656		2,671,204
5.500%, 04/25/42		626,834		635,620
6.000%, 05/25/42		348,832		360,226
6.500%, 06/25/39		8,435		8,578
6.500%, 07/25/42		674,812		707,024
Government National Mortgage Association
Zero Coupon, 09/16/46 (a) (b)		7,549,276		75
0.029%, 03/16/49 (a) (b)		1,159,415		128
0.051%, 10/16/54 (a) (b)		10,289,282		13,158
0.108%, 02/16/53 (a) (b)		3,727,390		7,574
0.127%, 04/16/54 (a) (b)		9,367,734		18,212
0.154%, 02/16/48 (a) (b)		807,565		2,726
0.619%, 03/16/60 (a) (b)		1,407,418		51,381
0.628%, 09/16/55 (a) (b)		6,188,685		154,238
0.633%, 10/16/58 (a) (b)		11,171,672		396,827
0.640%, 02/16/61 (a) (b)		1,343,763		65,876
0.706%, 12/16/59 (a) (b)		26,182,984		1,118,013
0.881%, 06/16/62 (a) (b)		3,622,027		221,700
1.000%, 07/16/60		535,300		384,540
1.010%, 02/16/46 (a) (b)		2,551,827		54,107
1.112%, 01/16/61 (a) (b)		4,546,933		350,402
1.112%, 06/16/61 (a) (b)		2,903,800		236,466
1.144%, 06/16/61 (a)		4,853,891		402,620
1.165%, 04/16/62 (a) (b)		3,097,077		251,409
1.271%, 09/16/60 (a) (b)		2,808,286		246,725
1.325%, 06/16/63 (a) (b)		2,651,779		248,612
1.500%, 06/16/63		2,589,934		1,942,849
2.000%, 08/20/50		120,221		98,666
2.000%, 10/20/50		6,273,913		5,144,459
2.000%, 12/20/50		5,002,194		4,102,207
2.000%, 01/20/51		1,236,630		1,013,890
2.000%, 02/20/51		13,512,176		11,003,616
2.000%, 03/20/51		3,197,323		2,555,563
2.500%, 10/20/49		357,965		306,936
2.500%, 04/20/51		3,900,490		3,325,261
2.500%, 06/20/51		79,949		67,341
2.500%, 07/20/51		999,442		851,927
2.500%, 08/20/51		3,446,612		2,936,920
2.500%, 09/20/51		4,625,025		3,941,647
2.500%, 10/20/51		327,877		276,167
2.500%, 12/20/51		168,389		141,832
2.500%, 08/20/52		10,641,418		9,066,126
3.000%, 09/15/42		283,622		256,372
3.000%, 10/15/42		1,543,893		1,387,148
3.000%, 11/15/42		559,901		499,261
3.000%, 11/20/46		154,480		138,090
3.000%, 09/20/47		49,185		43,913
3.000%, 11/20/47		103,997		92,823

Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association
3.000%, 12/20/47		661,213		590,083
3.000%, 01/20/50		586,762		518,401
3.000%, 02/20/51		98,221		86,759
3.000%, 09/20/51		4,768,673		4,209,422
3.000%, 11/20/51		755,685		669,293
3.000%, 01/20/52		91,776		80,002
3.000%, 02/20/52		2,380,360		2,106,017
3.000%, 03/20/52		1,742,133		1,533,525
3.000%, 04/20/52		2,229,374		1,919,725
3.500%, 06/20/44		597,910		554,961
3.500%, 03/20/45		46,678		43,170
3.500%, 01/20/46		123,203		113,870
3.500%, 03/20/46		651,146		598,837
3.500%, 04/20/46		341,840		315,898
3.500%, 05/20/46		159,356		147,250
3.500%, 06/20/46		271,947		251,246
3.500%, 07/20/46		164,651		152,109
3.500%, 09/20/46		15,027		13,819
3.500%, 05/20/47		2,176,947		2,010,093
3.500%, 02/20/48		941,313		858,761
3.500%, 06/15/48		1,824,277		1,701,684
3.500%, 09/20/48		411,708		379,121
3.500%, 02/20/49		12,893		11,866
3.500%, 10/20/49		104,400		95,606
3.500%, 01/20/50		990,999		904,973
3.500%, 02/20/50		138,514		126,003
3.500%, 05/15/50		318,261		295,124
3.500%, 07/20/50		163,798		150,494
3.500%, 02/20/52		1,471,840		1,338,961
3.500%, 03/20/52		452,593		407,247
3.500%, 06/20/52		536,868		481,749
4.000%, 09/20/45		218,336		208,586
4.000%, 11/20/45		2,469,350		2,322,001
4.000%, 08/20/46		1,763,918		1,674,635
4.000%, 06/20/47		778,398		739,475
4.000%, 07/20/47		131,215		124,599
4.000%, 11/20/47		375,467		356,912
4.000%, 12/20/47		146,263		138,746
4.000%, 02/20/48		135,450		128,417
4.000%, 03/20/48		1,048,252		993,554
4.000%, 04/20/48		128,851		122,061
4.000%, 05/20/48		106,177		100,549
4.000%, 08/20/48		1,451,686		1,369,582
4.000%, 09/20/48		404,744		383,039
4.000%, 03/20/49		222,467		210,334
4.000%, 04/20/49		193,675		183,112
4.000%, 11/20/49		67,170		62,838
4.000%, 01/20/50		103,874		99,436
4.000%, 02/20/50		90,643		86,552
4.000%, 03/15/50		31,593		29,770
4.000%, 03/20/50		58,739		56,220
4.000%, 04/20/50		383,723		360,464
4.000%, 06/20/52		631,712		593,493
4.500%, 01/20/40		171,353		168,973
4.500%, 05/20/40		216,479		213,405
4.500%, 09/20/40		4,909		4,835

BHFTII-290

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association
4.500%, 01/20/41		41,905	$	41,293
4.500%, 07/20/41		269,722		265,780
4.500%, 08/20/47		251,998		245,980
4.500%, 04/20/48		381,276		371,405
4.500%, 05/20/48		697,404		679,025
4.500%, 06/20/48		694,927		676,540
4.500%, 07/20/48		52,222		50,835
4.500%, 08/20/48		1,787,713		1,740,044
4.500%, 09/20/48		153,957		149,844
4.500%, 10/20/48		371,485		361,541
4.500%, 12/20/48		162,171		157,821
4.500%, 01/20/49		1,431,761		1,393,220
4.500%, 02/20/49		525,953		511,768
4.500%, 03/20/49		1,345,417		1,309,200
4.500%, 04/20/49		171,496		166,871
4.500%, 02/20/50		237,049		230,660
4.500%, 03/20/50		153,644		149,471
4.500%, 12/20/50		226,554		220,470
4.500%, 08/20/52		914,362		878,988
4.500%, 09/20/52		1,180,853		1,140,269
5.000%, 07/20/40		175,807		177,199
5.000%, 05/20/48		117,030		116,728
5.000%, 10/20/48		593,352		591,548
5.000%, 11/20/48		325,312		324,641
5.000%, 12/20/48		367,586		366,071
5.000%, 01/20/49		238,061		236,713
5.000%, 03/20/49		72,734		72,299
5.000%, 04/20/49		267,192		265,679
5.000%, 09/20/49		103,615		103,332
5.000%, 11/20/49		155,450		155,026
5.000%, 12/20/49		104,754		104,500
5.000%, 01/20/50		280,435		279,496
5.000%, 04/20/50		60,923		60,805
5.000%, 08/20/52		5,679,207		5,588,396
5.000%, 09/20/52		556,003		552,310
5.000%, 10/20/52		1,099,835		1,082,291
5.000%, 11/20/52		1,391,375		1,368,358
5.000%, 12/20/52		3,908,335		3,842,409
5.000%, 01/20/53		3,088,368		3,041,679
5.000%, 08/20/53		2,602,975		2,568,619
5.500%, 06/15/36		130,811		134,012
5.500%, 11/20/52		1,635,292		1,634,217
5.500%, 02/20/53		1,616,258		1,630,009
5.500%, 03/20/53		2,632,983		2,639,421
5.500%, 04/20/53		3,299,723		3,297,553
5.500%, 05/20/53		1,073,568		1,080,402
5.500%, 07/20/53		679,819		686,665
5.500%, 08/20/53		3,536,451		3,566,107
6.000%, 03/15/33		316,853		329,115
6.000%, 11/20/34		494		513
6.000%, 06/20/35		769		800
6.000%, 07/20/36		37,485		38,356
6.000%, 09/20/36		1,803		1,876
6.000%, 07/20/38		109,560		113,977
6.000%, 09/20/38		260,763		274,373
6.000%, 06/20/39		1,309		1,362

Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association
6.000%, 05/20/40		20,776		21,613
6.000%, 06/20/40		72,499		75,419
6.000%, 08/20/40		41,066		41,945
6.000%, 09/20/40		95,540		99,390
6.000%, 10/20/40		42,522		44,234
6.000%, 11/20/40		76,852		78,730
6.000%, 01/20/41		41,225		42,724
6.000%, 03/20/41		275,866		286,974
6.000%, 07/20/41		60,070		62,487
6.000%, 12/20/41		34,028		35,399
6.000%, 07/20/53		1,257,591		1,271,055
6.000%, 09/20/53		1,189,738		1,204,643
6.000%, 01/20/54		691,107		702,032
6.500%, 06/15/31		770		789
6.500%, 08/15/34		60,497		62,904
6.500%, 10/20/37		102,003		107,275
6.500%, 09/20/53		389,219		396,886
6.500%, 11/20/53		298,842		306,687
6.500%, 01/20/54		699,216		714,477
7.500%, 09/15/29		397		399
8.500%, 06/15/25		619		619
Government National Mortgage Association REMICS
0.659%, -1x 1M TSFR + 5.986%, 08/16/42 (a) (b)		337,262		34,467
0.967%, 06/16/61 (a) (b)		3,281,648		232,547
1.207%, -1x 1M TSFR + 6.536%, 01/20/40 (a) (b)		13,061		43
2.500%, 06/20/51 (b)		1,131,737		107,005
3.000%, 07/20/49		518,435		458,882
3.000%, 09/20/50 (b)		1,544,752		222,571
3.000%, 07/20/51 (b)		815,742		116,659
4.000%, 08/20/48		41,031		38,546
5.768%, 12M TSFR + 0.965%, 10/20/68 (a)		1,492,188		1,487,845
5.824%, 1M TSFR + 0.494%, 12/20/60 (a)		5,645,026		5,629,973
5.844%, 1M TSFR + 0.514%, 12/20/60 (a)		1,112,783		1,110,183
5.844%, 1M TSFR + 0.514%, 08/20/70 (a)		35,143		34,753
5.874%, 1M TSFR + 0.544%, 10/20/64 (a)		2,346,045		2,340,348
5.894%, 1M TSFR + 0.564%, 07/20/70 (a)		4,300,168		4,199,278
5.924%, 1M TSFR + 0.594%, 03/20/61 (a)		914,957		913,803
5.944%, 1M TSFR + 0.614%, 12/20/60 (a)		8,479,551		8,467,507
5.944%, 1M TSFR + 0.614%, 07/20/70 (a)		292,876		286,923
6.594%, 1M TSFR + 1.264%, 05/20/70 (a)		1,028,697		1,033,570
6.694%, 1M TSFR + 1.364%, 04/20/70 (a)		96,895		98,151
Government National Mortgage Association, TBA
2.000%, TBA (d)		1,700,000		1,392,492
2.500%, TBA (d)		4,900,000		4,172,921
3.000%, TBA (d)		2,100,000		1,851,725
3.500%, TBA (d)		500,000		454,939
4.000%, TBA (d)		2,000,000		1,871,378
4.500%, TBA (d)		3,500,000		3,362,901
5.000%, TBA (d)		3,900,000		3,832,751
5.500%, TBA (d)		2,700,000		2,697,464
6.000%, TBA (d)		300,000		302,622
6.500%, TBA (d)		1,000,000		1,016,673
Uniform Mortgage-Backed Security, TBA
3.000%, TBA (d)		13,500,000		11,612,851
3.500%, TBA (d)		400,000		357,951
4.000%, TBA (d)		1,500,000		1,389,002

BHFTII-291

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

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


Security Description	Principal Amount*		Value

Agency Sponsored Mortgage - Backed—(Continued)
Uniform Mortgage-Backed Security, TBA
4.500%, TBA (d)		8,300,000	$	7,903,446
5.000%, TBA (d)		8,800,000		8,585,836
5.500%, TBA (d)		10,100,000		10,049,866
6.000%, TBA (d)		6,600,000		6,660,086
6.500%, TBA (d)		3,500,000		3,575,664

				581,410,886


Federal Agencies—30.9%
Federal Farm Credit Banks Funding Corp.
0.375%, 01/15/25		10,000,000		9,636,491
0.460%, 11/03/25		10,000,000		9,343,328
0.780%, 06/16/25		10,000,000		9,507,472
0.875%, 11/18/24		5,000,000		4,866,678
1.050%, 11/17/25		10,000,000		9,407,969
1.240%, 09/03/30		8,000,000		6,526,475
1.680%, 09/17/35		1,195,000		869,387
1.750%, 02/25/25		18,350,000		17,815,813
2.600%, 04/05/27		10,000,000		9,478,006
2.625%, 05/16/24		15,000,000		14,948,970
2.700%, 10/26/27		10,000,000		9,425,078
5.480%, 06/27/42		3,000,000		2,964,512
Federal Home Loan Banks
0.375%, 09/04/25		15,000,000		14,086,240
0.500%, 04/14/25		14,000,000		13,345,935
0.750%, 06/30/25		7,770,000		7,384,501
1.020%, 02/24/27		9,990,000		9,024,093
1.750%, 09/12/25		10,000,000		9,568,560
2.250%, 03/04/36		15,000,000		11,576,701
2.750%, 12/13/24		10,000,000		9,832,278
3.000%, 07/08/24		7,000,000		6,956,018
4.125%, 01/15/27		4,000,000		3,966,935
Federal Home Loan Mortgage Corp.
Zero Coupon, 12/14/29		7,443,000		5,779,766
Zero Coupon, 12/17/29		5,562,000		4,311,434
Zero Coupon, 09/15/36		10,000,000		5,609,856
Zero Coupon, 12/15/36		24,765,000		13,816,627
Federal Home Loan Mortgage Corp. STRIPS
Zero Coupon, 07/15/28		5,400,000		4,453,911
Zero Coupon, 07/15/32		9,000,000		6,212,201
Federal National Mortgage Association
0.625%, 04/22/25		5,000,000		4,774,057
2.625%, 09/06/24		17,500,000		17,301,725
Federal National Mortgage Association Principal STRIPS
Zero Coupon, 05/15/30		30,000,000		22,772,374
Resolution Funding Corp. Interest STRIPS
Zero Coupon, 07/15/26		4,230,000		3,803,237
Zero Coupon, 04/15/28		10,000,000		8,351,694
Zero Coupon, 07/15/29		14,000,000		11,081,189
Zero Coupon, 10/15/29		14,996,000		11,732,002
Resolution Funding Corp. Principal STRIPS
Zero Coupon, 01/15/30		51,000,000		39,135,784
Zero Coupon, 04/15/30		54,000,000		40,874,312
Tennessee Valley Authority
3.875%, 03/15/28		15,000,000		14,738,665

Federal Agencies—(Continued)
U.S. Department of Housing & Urban Development
2.668%, 08/01/24		8,000,000		7,922,971
2.738%, 08/01/25		6,000,000		5,834,242
U.S. International Development Finance Corp.
1.110%, 05/15/29		10,500,000		9,469,116
3.540%, 06/15/30		7,353,222		7,115,803

				435,622,406


U.S. Treasury—18.9%
U.S. Treasury Bonds
4.000%, 11/15/42		2,000,000		1,883,906
4.750%, 02/15/41		4,500,000		4,709,707
U.S. Treasury Inflation-Indexed Bond
0.250%, 02/15/50 (e)		5,877,109		3,708,647
U.S. Treasury Inflation-Indexed Notes
1.125%, 01/15/33 (e)		2,070,420		1,941,664
1.625%, 10/15/27 (e)		15,614,400		15,463,841
U.S. Treasury Notes
1.875%, 08/31/24 (f)		19,000,000		18,730,957
1.875%, 07/31/26		79,000,000		74,355,664
2.750%, 05/31/29		14,000,000		13,040,782
3.875%, 11/30/29		66,500,000		65,299,883
3.875%, 08/15/33		55,000,000		53,539,063
4.125%, 08/31/30		8,000,000		7,948,750
4.375%, 10/31/24		5,000,000		4,974,479

				265,597,343

Total U.S. Treasury & Government Agencies (Cost $1,363,440,091)				1,282,630,635


Foreign Government—5.5%

Sovereign—5.5%
Colombia Government International Bond
5.625%, 02/26/44		4,840,000		3,829,093
Indonesia Government International Bond
4.750%, 02/11/29		6,280,000		6,214,813
Israel Government AID Bonds
5.500%, 04/26/24		21,550,000		21,549,682
5.500%, 09/18/33 (f)		10,047,000		10,794,905
Israel Government International Bond
5.500%, 03/12/34		7,000,000		6,907,950
Mexico Government International Bond
4.500%, 04/22/29		12,280,000		11,868,504
Peru Government International Bonds
3.300%, 03/11/41		3,420,000		2,560,725
3.550%, 03/10/51		1,090,000		787,525
3.600%, 01/15/72		1,580,000		1,044,775
6.550%, 03/14/37		320,000		347,200
Qatar Government International Bond
5.103%, 04/23/48 (144A)		7,300,000		7,090,502
Republic of Poland Government International Bond
3.250%, 04/06/26		5,010,000		4,859,700

Total Foreign Government (Cost $82,239,531)				77,855,374

BHFTII-292

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Corporate Bonds & Notes—4.1%


Security Description	Principal Amount*		Value

Chemicals—0.1%
MEGlobal BV 4.250%, 11/03/26 (144A)		1,540,000	$	1,479,484


Diversified Financial Services—3.2%
Private Export Funding Corp. 3.250%, 06/15/25		20,000,000		19,599,336
5.500%, 03/14/25 (144A)		25,000,000		25,068,274

				44,667,610


Electric—0.5%
Enel Chile SA 4.875%, 06/12/28		4,000,000		3,901,027
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara 5.450%, 05/21/28 (144A)		4,000,000		4,007,028

				7,908,055


Oil & Gas—0.3%
Ecopetrol SA 5.375%, 06/26/26		4,260,000		4,189,100

Total Corporate Bonds & Notes (Cost $59,166,907)				58,244,249


Mortgage-Backed Securities—3.8%

Collateralized Mortgage Obligations—1.8%
Banc of America Mortgage Trust 5.141%, 07/25/35 (a)		9,141		8,362
CIM Trust 1.425%, 07/25/61 (144A) (a)		2,200,919		1,889,263
5.000%, 05/25/62 (144A) (a)		2,655,191		2,618,457
Citigroup Mortgage Loan Trust, Inc. 7.780%, 1Y H15 + 2.400%, 10/25/35 (a)		22,857		22,047
Countrywide Alternative Loan Trust 5.643%, 1M TSFR + 0.314%, 07/20/46 (a)		861,585		685,405
Countrywide Reperforming Loan REMICS Trust 5.864%, 1M TSFR + 0.534%, 07/25/36 (144A) (a)		153,633		140,782
CSMC Trust 0.830%, 03/25/56 (144A) (a)		619,291		499,112
0.938%, 05/25/66 (144A) (a)		925,930		742,803
1.169%, 03/25/56 (144A) (a)		533,128		434,973
1.756%, 10/25/66 (144A) (a)		613,364		519,624
2.000%, 10/25/60 (144A) (a)		752,126		656,460
9.822%, SOFR30A + 4.500%, 10/25/66 (144A) (a)		2,048,406		1,999,379
Ellington Financial Mortgage Trust 3.001%, 01/25/67 (144A) (a)		950,000		683,361
GMACM Mortgage Loan Trust 3.644%, 11/19/35 (a)		69,148		60,086
GS Mortgage-Backed Securities Trust 3.750%, 10/25/57 (144A)		1,461,946		1,402,427
4.000%, 05/25/62 (144A) (a)		698,272		631,773
JP Morgan Mortgage Trust 3.500%, 10/25/48 (144A) (a)		381,842		331,677
5.374%, 06/25/34 (a)		22,835		21,298

Collateralized Mortgage Obligations —(Continued)
Legacy Mortgage Asset Trust 2.250%, 07/25/67 (144A) (g)		688,836		664,629
MASTR Adjustable Rate Mortgages Trust 3.645%, 02/25/34 (a)		95,771		82,065
MASTR Reperforming Loan Trust 3.661%, 05/25/35 (144A) (a)		1,757,929		856,632
Morgan Stanley Mortgage Loan Trust 3.464%, 07/25/35 (a)		49,828		42,805
5.584%, 1M TSFR + 0.254%, 06/25/36 (a)		412,256		81,022
New Residential Mortgage Loan Trust 1.156%, 11/27/56 (144A) (a)		515,038		432,081
2.750%, 07/25/59 (144A) (a)		1,064,030		998,585
3.250%, 09/25/56 (144A) (a)		990,284		905,856
4.000%, 02/25/57 (144A) (a)		820,723		777,226
4.000%, 05/25/57 (144A) (a)		1,262,742		1,191,379
NovaStar Mortgage Funding Trust 0.545%, 1M TSFR + 0.494%, 09/25/46 (a)		376,044		336,484
OBX Trust 1.054%, 07/25/61 (144A) (a)		656,541		509,284
5.949%, 02/25/63 (144A) (g)		631,722		629,110
PRKCM Trust 1.510%, 08/25/56 (144A) (a)		1,466,976		1,172,654
2.071%, 11/25/56 (144A) (a)		785,408		665,187
SACO I Trust 4.527%, 06/25/21 (144A) (a)		6,391		5,267
Structured Asset Mortgage Investments II Trust 5.804%, 1M TSFR + 0.474%, 07/25/46 (a)		77,431		63,613
Structured Asset Securities Corp. 4.113%, 06/25/35 (144A) (a)		45,717		39,646
5.794%, 1M TSFR + 0.464%, 04/25/35 (144A) (a)		1,141,865		988,742
Towd Point Mortgage Trust 1.636%, 04/25/60 (144A) (a)		735,334		649,414
3.000%, 04/25/60 (144A) (a)		940,000		728,102

				25,167,072


Commercial Mortgage-Backed Securities—2.0%
BANK 2.470%, 09/15/64		2,680,000		2,254,916
2.643%, 04/15/54		860,000		738,015
3.538%, 11/15/54		1,580,000		1,492,631
5.779%, 04/15/56		770,000		783,355
Benchmark Mortgage Trust 5.525%, 04/15/56		2,700,000		2,782,777
BLP Commercial Mortgage Trust 7.017%, 1M TSFR + 1.692%, 03/15/40 (144A) (a)		4,300,000		4,308,063
BX Commercial Mortgage Trust 7.606%, 1M TSFR + 2.281%, 06/15/40 (144A) (a)		1,130,000		1,134,591
BX Trust 6.175%, 1M TSFR + 0.850%, 01/15/39 (144A) (a)		3,000,000		2,973,750
6.241%, 1M TSFR + 0.914%, 02/15/36 (144A) (a)		585,199		582,639
Citigroup Commercial Mortgage Trust 5.820%, 10/12/40 (144A) (a)		1,520,000		1,546,079
GS Mortgage Securities Trust 2.911%, 02/13/53		3,414,000		3,016,246
LAQ Mortgage Trust 7.417%, 1M TSFR + 2.091%, 03/15/36 (144A) (a)		443,291		444,676

BHFTII-293

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Mortgage-Backed Securities—(Continued)


Security Description	Principal Amount*		Value

Commercial Mortgage-Backed Securities —(Continued)
Morgan Stanley Bank of America Merrill Lynch Trust 3.459%, 12/15/49		3,129,700	$	2,995,447
MTN Commercial Mortgage Trust 6.727%, 1M TSFR + 1.397%, 03/15/39 (144A) (a)		2,980,000		2,948,790

				28,001,975

Total Mortgage-Backed Securities (Cost $56,536,322)				53,169,047


Asset-Backed Securities—0.0%

Asset-Backed - Home Equity—0.0%
Morgan Stanley Mortgage Loan Trust 5.624%, 1M TSFR + 0.294%, 12/25/36 (a)		109,382		36,591
5.744%, 1M TSFR + 0.414%, 03/25/36 (a)		34,614		33,984

				70,575


Asset-Backed - Other—0.0%
Structured Asset Securities Corp. Mortgage Loan Trust 5.664%, 1M TSFR + 0.334%, 02/25/36 (144A) (a)		4,544,834		93,558

Total Asset-Backed Securities (Cost $2,100,576)				164,133


Short-Term Investment—0.3%

Repurchase Agreement—0.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/28/24 at 2.500%, due on 04/01/24 with a maturity value of $4,004,508; collateralized by U.S. Treasury Note at 0.625%, maturing 01/15/26, with a market value of $4,083,486.		4,003,396		4,003,396

Total Short-Term Investments (Cost $4,003,396)				4,003,396


Securities Lending Reinvestments(h)—0.0%

Repurchase Agreements—0.0%
Bank of Nova Scotia Repurchase Agreement dated 03/29/24 at 5.450%, due on 04/01/24 with a maturity value of $9,568; collateralized by various Common Stock with an aggregate market value of $10,653.		9,564		9,564
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/24 at 5.300%, due on 04/01/24 with a maturity value of $2,437; collateralized by U.S. Treasury Obligations with zero coupon, maturity dates ranging from 08/15/24—05/15/50, and an aggregate market value of $2,485.		2,436		2,436

				12,000


Mutual Funds—0.0%
BlackRock Liquidity Funds FedFund, Institutional Shares 5.200% (i)		20,000		20,000
Fidelity Investments Money Market Government Portfolio, Class I 5.210% (i)		20,000		20,000
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.210% (i)		20,000		20,000
Morgan Stanley Liquidity Funds Government Portfolio, Institutional Shares 5.220% (i)		20,000		20,000
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 5.260% (i)		20,000		20,000
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.260% (i)		20,000		20,000

				120,000

Total Securities Lending Reinvestments (Cost $132,000)				132,000

Total Investments— 104.8% (Cost $1,567,618,823)				1,476,198,834
Other assets and liabilities (net)—(4.8)%				(67,780,445	)

Net Assets—100.0%			$	1,408,418,389


*		Principal amount stated in U.S. dollars unless otherwise noted.
(a)		Variable or floating rate security. The stated rate represents the rate at March 31, 2024. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(b)		Interest only security.
(c)		Principal only security.
(d)		TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(e)		Principal amount of security is adjusted for inflation.
(f)		All or a portion of the security was held on loan. As of March 31, 2024, the market value of securities loaned was $18,858,904 and the collateral received consisted of cash in the amount of $132,000 and non-cash collateral with a value of $19,130,412. 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.
(g)		Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(h)		Represents investment of cash collateral received from securities on loan as of March 31, 2024.
(i)		The rate shown represents the annualized seven-day yield as of March 31, 2024.
(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 March 31, 2024, the market value of 144A securities was $84,113,908, which is 6.0% of net assets.

BHFTII-294

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Futures Contracts

Futures Contracts—Short

Expiration
Date

Number of
Contracts

Notional
Value

Value/
Unrealized
Depreciation

U.S. Treasury Note 10 Year Futures

06/18/24

(434)

USD

(48,085,844)

$(193,200)

U.S. Treasury Note 5 Year Futures

06/28/24

(72)

USD

(7,705,125)

(15,039)

Net Unrealized Depreciation

$(208,239)

Glossary of Abbreviations

Currencies


(USD)—		United States Dollar

Index Abbreviations


(H15)—		U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(RFUCCT)—		Refinitiv USD IBOR Consumer Cash Fallbacks Term
(SOFR30A)—		Secured Overnight Financing Rate 30-Day Average
(TSFR)—		Term Secured Overnight Financing Rate

Other Abbreviations


(REMIC)—		Real Estate Mortgage Investment Conduit
(STACR)—		Structured Agency Credit Risk

BHFTII-295

Brighthouse Funds Trust II

Western Asset Management U.S. Government Portfolio

Schedule of Investments as of March 31, 2024 (Unaudited)

Fair Value Hierarchy

Level 1 - unadjusted quoted prices in active markets for identical investments

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2024:


Description	Level 1			Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—		$	1,282,630,635		$	—	$	1,282,630,635
Total Foreign Government*		—			77,855,374			—		77,855,374
Total Corporate Bonds & Notes*		—			58,244,249			—		58,244,249
Total Mortgage-Backed Securities*		—			53,169,047			—		53,169,047
Total Asset-Backed Securities*		—			164,133			—		164,133
Total Short-Term Investment*		—			4,003,396			—		4,003,396
Securities Lending Reinvestments
Repurchase Agreements		—			12,000			—		12,000
Mutual Funds		120,000			—			—		120,000
Total Securities Lending Reinvestments		120,000			12,000			—		132,000
Total Investments	$	120,000		$	1,476,078,834		$	—	$	1,476,198,834

Collateral for Securities Loaned (Liability)	$	—		$	(132,000	)	$	—	$	(132,000	)
Futures Contracts
Futures Contracts (Unrealized Depreciation)	$	(208,239	)	$	—		$	—	$	(208,239	)


*		See Schedule of Investments for additional detailed categorizations.

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Brighthouse Funds Trust II

Notes to the Schedule of Investments

Investment Valuation and Fair Value Measurements

Debt securities, including corporate, convertible and municipal bonds and notes; obligations of the U.S. Treasury and U.S. government agencies; foreign sovereign issues; and non-U.S. bonds, are generally valued based upon evaluated or composite bid quotations obtained from third-party pricing services and/or brokers and dealers selected by Brighthouse Investment Advisers, LLC (the “Adviser”) (each a “pricing service”). Such pricing services may use matrix pricing, which considers observable inputs including, among other things, issuer details, maturity dates, interest rates, yield curves, rates of prepayment, credit risks/spreads, default rates, reported trades, broker dealer quotes and quoted prices for similar assets. Short-term obligations with a remaining maturity of sixty days or less may be valued at amortized cost in the absence of market quotes, so long as the amortized cost value of such short-term debt instrument is approximately the same as the fair value of the instrument as determined without the use of amortized cost valuation. Floating rate loans are generally valued based upon an evaluated or composite average of aggregate bid and ask quotations supplied by brokers or dealers, as obtained from the pricing service. Securities that use similar valuation techniques and inputs as described above are generally categorized as Level 2 within the fair value hierarchy.

Mortgage and asset-backed securities are generally valued based upon evaluated or composite bid quotations obtained from pricing services selected by the Adviser. These securities are usually issued as separate tranches, or classes, of securities within each deal. The pricing models for these securities usually consider tranche level attributes, current market data, estimated cash flows and market-based yield spreads for each tranche and incorporate deal collateral performance, as available. Mortgage and asset-backed securities that use similar valuation techniques and inputs as described above are generally categorized as Level 2 within the fair value hierarchy.

Domestic and foreign equity securities, such as common stock, exchange-traded funds, rights, warrants, and preferred stock, that are traded on a securities exchange on a valuation date are generally valued at their last quoted sale price or official closing price on the primary exchange for such security, or, if no sales occurred on that day, at the last reported bid price. Equity securities traded over-the-counter (“OTC”) are generally valued at the last reported bid price. In the event of a major exchange closing during the trading day, the Adviser may use other market information obtained from quotation reporting systems, established market makers, or pricing services in valuing the securities. Valuation adjustments may be applied to certain foreign equity securities that are traded solely on foreign exchanges that close before the time as of which the Portfolio determines its net asset value (“NAV”) to account for the market movement between the close of the foreign exchanges and the time as of which the Portfolio determines its NAV. The Portfolio may use a systematic fair valuation model provided by a pricing service to value securities principally traded in these foreign markets to adjust for possible market movements or other changes that may occur between the close of the foreign exchanges and the time as of which the Portfolio determines its NAV. Foreign equity securities valued using these valuation adjustments are generally categorized as Level 2 within the fair value hierarchy. Equity securities that are actively traded, and have no valuation adjustments applied, are categorized as Level 1 within the fair value hierarchy. Other equity securities traded on inactive markets, or valued in reference to similar instruments traded on active markets, are generally categorized as Level 2 within the fair value hierarchy.

Investments in registered open-end management investment companies are valued at reported NAV per share on the valuation date and are categorized as Level 1 within the fair value hierarchy.

Foreign currency forward contracts are valued through a third-party pricing service by interpolating between forward and spot currency rates in the London foreign exchange markets as of a designated hour on a valuation day. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Options, whether on securities, indices, futures contracts, or otherwise, traded on exchanges are valued at the last sale price available as of the close of business on a valuation day or, if there is no such price available, at the last reported bid price. These types of options are categorized as Level 1 within the fair value hierarchy. Futures contracts that are traded on commodity exchanges are valued at their settlement prices established by the exchanges on which they are traded as of the close of such exchanges and are categorized as Level 1 within the fair value hierarchy.

Options, including options on swaps (“swaptions”), currencies, and synthetic futures contracts that are traded OTC are generally valued based upon interdealer bid and ask prices or prices provided by pricing service providers who use a series of techniques, including simulation pricing models, to determine the value of the contracts. The pricing models use inputs that are observed from actively quoted markets such as issuer details, indices, spreads, interest rates, yield curves, credit curves, measures of volatility and exchange rates. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Swap contracts (other than centrally cleared swaps listed or traded on a multilateral or trade facility platform) are marked-to-market daily based on quotations and prices supplied by market makers, broker-dealers and other pricing services. Such quotations and prices are derived utilizing observable data, including the underlying reference securities or indices, credit spread quotations and expected default recovery rates determined by the pricing service. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Centrally cleared swaps listed or traded on a multilateral or trade facility platform, such as a registered exchange, are valued at the daily settlement price determined by the respective exchange or a pricing service when the exchange price is not available. For

BHFTII-297

Brighthouse Funds Trust II

Notes to the Schedule of Investments

Investment Valuation and Fair Value Measurements—(Continued)

centrally cleared credit default swaps, the clearing facility requires its members to provide actionable price levels across complete term structures. These levels along with external third party prices are used to produce daily settlement prices. These securities are categorized as Level 2 within the fair value hierarchy. Centrally cleared interest rate swaps are valued using a pricing model that references the underlying rates, including, but not limited to, the overnight index swap rate, the respective interbank offered forward rate or other interest rates, yield curves or credit spreads produce the daily settlement price. These securities are categorized as Level 2 within the fair value hierarchy.

If no current market quotation or other observable inputs are readily available or market value quotations are deemed to be unreliable for an investment, the fair value of the investment will be determined in accordance with procedures. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Portfolio can access at the measurement date, provided that a quotation will not be readily available if it is not reliable.

Pursuant to Rule 2a-5 under the 1940 Act, the Board of Trustees (the “Board” or “Trustees” ) of the Trust has designated Brighthouse Investment Advisers, acting through its Valuation Committee (“Committee”), as the Portfolio’s “valuation designee” to perform the Portfolio’s fair value determinations. The Board oversees Brighthouse Investment Advisers in its role as the Valuation Designee and receives reports from Brighthouse Investment Advisers regarding its process and the valuation of the Portfolio’s investments to assist with such oversight.

No single standard for determining the fair value of an investment can be set forth because fair value depends upon the facts and circumstances with respect to each investment. Information relating to any relevant factors may be obtained by the Committee from any appropriate source, including the subadviser of the Portfolio, the Custodian, a pricing service, market maker and/or broker for such security or the issuer. Appropriate methodologies for determining fair value under particular circumstances may include: matrix pricing, a discounted cash flow analysis, comparisons of securities with comparable characteristics, value based on multiples of earnings, discount from market price of similar marketable securities or a combination of these and other methods.

For information regarding a Portfolio’s other significant accounting policies, please refer to the Portfolio’s most recent Semiannual or Annual Report.

BHFTII-298