Brighthouse Asset Allocation 40 Portfolio
Brighthouse Funds Trust II
Fund classification
Classified from what the fund holds · as of 2026 Q2
Brighthouse Asset Allocation 40 Portfolio is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
Fund profile
As filed in the prospectus · 2026 Q2
High total return in the form of income and growth of capital, with a greater emphasis on income.
The fund invests substantially all assets in Class A shares of underlying portfolios managed by Brighthouse Investment Advisers, maintaining a target allocation of 60% fixed income and 40% equity across U.S. investment-grade bonds, high-yield debt, foreign fixed income, U.S. large-cap stocks, and foreign equities. The adviser establishes and periodically adjusts these target allocations based on long-term return and risk models, selecting underlying portfolios that align with those targets. Because the fund's actual equity and fixed-income exposures depend on the underlying portfolios' holdings and market valuations, allocations may deviate substantially from targets.
| Share class | Expense ratio |
|---|---|
| C000017809 | 0.66% |
| C000017810 | 0.91% |
Portfolio turnover 10.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 40.94% |
| Bonds | 37.95% |
| Securitized | 25.30% |
| Loans | 2.30% |
| 3 smaller | 2.55% |
Look-through blends 37 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
This fund changed legal form during the period shown. The history above is continuous — it spans both eras, and the change is not a gap in reporting.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | BRIGHTHOUSE FDS TR II | 10.29% | $88.02 | $304.91M | 3.5M |
| — | BRIGHTHOUSE FDS TR I | 10.03% | $9.82 | $297.02M | 30.2M |
| — | BRIGHTHOUSE FDS TR II | 8.28% | $10.37 | $245.29M | 23.7M |
| — | BRIGHTHOUSE FDS TR I | 7.78% | $8.51 | $230.45M | 27.1M |
| — | BRIGHTHOUSE FDS TR I | 5.27% | $10.01 | $156.11M | 15.6M |
| — | BRIGHTHOUSE FDS TR I | 4.26% | $8.88 | $126.28M | 14.2M |
| — | BRIGHTHOUSE FDS TR II | 3.78% | $13.34 | $112.06M | 8.4M |
| — | BRIGHTHOUSE FDS TR II | 3.53% | $10.12 | $104.44M | 10.3M |
| — | BRIGHTHOUSE FDS TR II | 3.30% | $24.90 | $97.79M | 3.9M |
| — | BRIGHTHOUSE FDS TR I | 3.27% | $12.87 | $96.99M | 7.5M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 59.80% of net assets, top 25 91.22%, across 2 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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