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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-Q
Quarterly Schedule of Portfolio Holdings of
Registered Management Investment Company
Investment Company Act file number 811-02183
MassMutual Corporate Investors
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(Exact name of registrant as specified in charter)
1500 Main Street, Suite 600, Springfield, MA 01115
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(Address of principal executive offices) (Zip code)
Stephen L. Kuhn, Vice President and Secretary,
1295 State Street, Springfield, MA 01111
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(Name and address of agent for service)
Registrant's telephone number, including area code: 413-226-1000
___________________
Date of fiscal year end: 12/31
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Date of reporting period: 03/31/06
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ITEM 1. SCHEDULE OF INVESTMENTS.
CONSOLIDATED SCHEDULE OF INVESTMENTS MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES - 68.37%:(A) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
PRIVATE PLACEMENT INVESTMENTS - 62.28%
A T I ACQUISITION COMPANY
A for-profit post-secondary school serving students in
Texas, Florida and Arizona.
12% Senior Subordinated Note due 2012 $ 2,125,000 04/08/04 $ 2,125,000 $ $1,894,427
Warrant, exercisable until 2012, to purchase
common stock at $.02 per share (B) 2,323 shs. 04/08/04 -- 23
Warrant, exercisable until 2012, to purchase
preferred stock at $.01 per share (B) 63,287 shs. 03/23/06 63,958 633
------------ ------------
2,188,958 1,895,083
------------ ------------
ADORN, INC.
A manufacturer of wall panels, cabinets, moldings and
countertops for houses and recreational vehicles.
12.5% Senior Subordinated Note due 2010 $ 2,125,000 02/29/00 1,978,838 2,125,000
Warrant, exercisable until 2010, to purchase
preferred stock at $.02 per share (B) 364 shs. 02/29/00 307,759 523,541
------------ ------------
2,286,597 2,648,541
------------ ------------
AMERCABLE, INC.
A manufacturer of electric power, instrumentation
and control cables, primarily for the mining and oil
and gas industries.
12% Senior Subordinated Note due 2013 $ 1,101,852 04/08/05 1,040,733 1,093,682
Limited Partnership Interest (B) 0.36% int. 04/07/05 78,704 121,048
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 125 shs. 04/08/05 122,463 192,047
------------ ------------
1,241,900 1,406,777
------------ ------------
AMERICAN HOSPICE MANAGEMENT HOLDING LLC
A for-profit hospice care provider in the United States.
12% Senior Subordinated Note due 2010 $ 2,125,000 01/22/04 1,923,433 2,153,854
Preferred Class A Unit (B) 2,525 uts. 01/22/04 252,500 227,250
Common Class B Unit (B) 3,042 uts. 01/22/04 1 291,840
------------ ------------
2,175,934 2,672,944
------------ ------------
ARROW TRU-LINE HOLDINGS, INC.
A manufacturer of hardware for residential and
commercial overhead garage doors in North America.
12% Senior Subordinated Note due 2012 $ 1,627,660 05/18/05 1,524,442 1,636,698
Common Stock (B) 497 shs. 05/18/05 497,340 447,606
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 130 shs. 05/18/05 112,128 1
------------ ------------
2,133,910 2,084,305
------------ ------------
AUGUSTA SPORTSWEAR HOLDING CO.
A manufacturer and distributor of athletic apparel,
activewear and team uniforms.
12% Senior Subordinated Note due 2012 $ 1,686,800 12/31/04 1,578,752 1,693,401
Common Stock (B) 493 shs. * 492,975 443,682
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 137 shs. 12/31/04 119,482 1
------------ ------------
2,191,209 2,137,084
------------ ------------
*12/31/04 and 03/31/05.
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7
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
BEACON MEDICAL PRODUCTS, INC.
A designer, manufacturer and marketer of medical air and
gas distribution systems.
8.54% Senior Secured Revolving Credit
Facility due 2007 (C) $ 230,636 04/09/02 $ 230,636 $ 230,636
8.54% Senior Secured Tranche A Note
due 2008 (C) $ 593,509 04/09/02 593,509 593,509
12% Senior Secured Note due 2010 $ 721,196 04/09/02 637,986 744,517
Limited Partnership Interest of Riverside Capital
Appreciation Fund IV, L.P. (B) 8.91% int. 04/09/02 152,329 457,832
Warrant, exercisable until 2010, to purchase
common stock at $.01 per share (B) 1,390 shs. 04/09/02 127,497 417,663
------------ ------------
1,741,957 2,444,157
------------ ------------
BETA BRANDS LTD.
A manufacturer of hard candy and chocolate-coated
products sold primarily to the Canadian market
5% Promissory Note due 2009 (B) $ 195,498 03/31/04 195,498 --
Warrant, exercisable until 2009, to purchase
common stock at $.01 per share (B) 4,895 shs. 03/31/04 1 --
------------ ------------
195,499 --
------------ ------------
C & J SPEC-RENT SERVICES, INC.
A provider of coiled tubing and pressure pumping services
to the oil and gas industry in Texas and Louisiana.
10% Senior Secured Term Note due 2012 $ 1,551,492 08/12/05 1,551,492 1,571,315
14% Senior Subordinated Note due 2013 $ 1,137,071 08/12/05 1,035,317 1,140,043
Common Stock (B) 470,150 shs. 08/12/05 470,150 423,135
Warrants, exercisable until 2013, to purchase
common stock at $.01 per share (B) 86,716 shs. 08/12/05 106,592 867
------------ ------------
3,163,551 3,135,360
------------ ------------
C & M CONVEYOR, INC.
A manufacturer and supplier of material handling systems
to the corrugated sheet and container industry.
9.5% Senior Secured Term Note due 2007 $ 759,036 09/13/02 759,036 758,541
11% Senior Subordinated Note due 2010 $ 838,102 09/13/02 808,535 837,923
Common Stock (B) 316,265 shs. 09/13/02 316,265 607,229
Warrant, exercisable until 2010, to purchase
common stock at $.01 per share (B) 137,175 shs. 09/13/02 60,250 263,376
------------ ------------
1,944,086 2,467,069
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CAINS FOODS, L.P.
A producer of mayonnaise and sauce products for both the
retail and food service markets.
Limited Partnership Interest (B) 3.69% int. 09/29/95 45,046 356,927
------------ ------------
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8
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
CAPESUCCESS LLC
A provider of diversified staffing services.
Preferred Membership Interests (B) 1,882 uts. 04/29/00 $ 8,396 $ 420
Common Membership Interests (B) 24,318 uts. 04/29/00 108,983 5,442
------------ ------------
117,379 5,862
------------ ------------
CAPITAL SPECIALTY PLASTICS, INC.
A producer of desiccant strips used for packaging
pharmaceuticals products.
Common Stock (B) 109 shs. * 503 45,947
------------ ------------
COEUR, INC
A producer of proprietary, disposable power
injection syringes
8.75% Senior Secured Term Note due 2010 $ 570,652 04/30/03 570,652 570,764
11.5% Senior Subordinated Note due 2011 $ 424,819 04/30/03 394,201 425,300
Common Stock (B) 126,812 shs. 04/30/03 126,812 143,044
Warrant, exercisable until 2010, to purchase
common stock at $.01 per share (B) 87,672 shs. 04/30/03 40,804 98,894
------------ ------------
1,132,469 1,238,002
------------ ------------
COINING CORPORATION OF AMERICA LLC
A manufacturer of close tolerance parts and
metal stampings.
9.77% Senior Secured Revolving Credit
Facility due 2006 (C) $ 151,235 01/07/02 151,235 150,425
9.77% Senior Secured Tranche A Note due 2007 (C) $ 803,097 06/26/01 803,097 779,604
13% Senior Secured Tranche B Note due 2008 $ 648,148 06/26/01 648,148 635,277
Limited Partnership Interest (B) 6.38% int. 06/26/01 324,074 291,667
Warrant, exercisable until 2008, to purchase
common stock at $.01 per share (B) 107,036 shs. 06/26/01 79,398 90,552
------------ ------------
2,005,952 1,947,525
------------ ------------
CONNOR SPORT COURT INTERNATIONAL, INC.
A designer and manufacturer of outdoor and
indoor synthetic sports flooring and other temporary
flooring products.
12% Senior Subordinated Note due 2012 (D) $ 2,001,121 ** 1,840,888 1,801,009
Limited Partnership Interest (B) 7.74% int. *** 189,586 1,896
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 174 shs. ** 160,233 2
------------ ------------
2,190,707 1,802,907
------------ ------------
*12/30/97 and 05/29/99.
**08/12/04 and 01/18/05.
***08/12/04 and 01/14/05.
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9
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
CONSOLIDATED FOUNDRIES HOLDINGS
A manufacturer of engineered cast metal components for
the global aerospace and defense industries.
12% Senior Subordinated Note due 2013 $ 2,185,714 06/15/05 $ 2,091,220 $ 2,160,039
Common Stock (B) 364 shs. 06/15/05 364,286 327,861
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 103 shs. 06/15/05 100,668 1
------------ ------------
2,556,174 2,487,901
------------ ------------
COREPHARMA LLC
A manufacturer of oral dose generic pharmaceuticals
targeted at niche applications.
12% Senior Subordinated Note due 2013 $ 2,550,000 08/04/05 2,418,920 2,511,968
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 20 shs. 08/04/05 137,166 --
------------ ------------
2,556,086 2,511,968
------------ ------------
CORVEST GROUP, INC.
A manufacturer and distributor of promotional products.
12% Senior Subordinated Note due 2007 $ 3,863,636 * 3,734,665 1,931,818
Common Stock (B) 56 shs. * 96,591 9,658
Limited Partnership Interest (B) 19.32% int. * 284,052 28,677
Warrant, exercisable until 2007, to purchase
common stock at $.01 per share (B) 324 shs. * 297,203 55,700
------------ ------------
4,412,511 2,025,853
------------ ------------
DEXTER MAGNETICS TECHNOLOGIES, INC.
A designer, fabricator, assembler and distributor of industrial
magnets and subassemblies in North America and Europe.
Common Stock (B) 585 shs. 07/19/01 585,145 694,854
Warrant, exercisable until 2006, to purchase
common stock at $.01 per share (B) 297 shs. 07/19/01 250,611 352,183
------------ ------------
835,756 1,047,037
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DIRECTED ELECTRONICS, INC.
A designer and distributor of brand name
automotive security systems, audio products and
installation accessories.
Common Stock (B) 239,547 shs. 12/19/05 76,530 3,611,168
Limited Partnership Interest (B) 8.70% int. ** 49,531 1,559,019
------------ ------------
126,061 5,170,187
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DIVERSCO, INC./DHI HOLDINGS, INC.
A contract provider of janitorial and equipment maintenance
services and temporary production labor to industrial
customers.
Membership Interests of MM/Lincap
Diversco Investments Ltd. LLC (B) 27.19% int. 08/27/98 734,090 --
Preferred Stock (B) 3,278 shs. 12/14/01 2,784,133 2,505,724
Warrants, exercisable until 2011, to purchase common
stock of DHI Holdings, Inc. at $.01 per share (B) 13,352 shs. *** 403,427 --
------------ ------------
3,921,650 2,505,724
------------ ------------
*03/05/99 and 03/24/99.
**12/22/99 and 09/14/05.
***10/24/96 and 08/28/98.
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10
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
DWYER GROUP, INC.
A franchiser of a variety of home repair services.
14% Senior Subordinated Note due 2011 $ 1,859,375 10/30/03 $ 1,706,599 $ 1,896,563
Common Stock (B) 6,906 shs. * 690,600 718,224
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 2,034 shs. 10/30/03 186,469 211,493
------------ ------------
2,583,668 2,826,280
------------ ------------
E X C ACQUISITION CORPORATION
A manufacturer of pre-filled syringes and pump systems
used for intravenous drug delivery.
Warrant, exercisable until 2014, to purchase
common stock at $.01 per share (B) 22 shs. 06/28/04 77,208 135,460
------------ ------------
EAGLE PACK PET FOODS, INC.
A manufacturer of premium pet food sold through
independent pet stores.
14% Senior Subordinated Note due 2011 $ 1,062,500 09/24/04 1,028,505 1,083,750
Warrant, exercisable until 2011, to purchase
common stock at $.02 per share (B) 4,085 shs. 09/24/04 39,464 71,896
------------ ------------
1,067,969 1,155,646
------------ ------------
EAST RIVER VENTURES I, L.P.
An acquirer of controlling or substantial interests in
other entities.
Limited Partnership Interest (B) 0.14% int. 01/01/01 26,855 21,706
------------ ------------
ENZYMATIC THERAPY, INC.
A manufacturer and distributor of branded natural
medicines and nutritional supplements.
Limited Partnership Interest (B) 1.32% int. 03/30/00 531,250 63,750
Warrant, exercisable until 2009, to purchase
common stock at $.01 per share (B) 29,117 shs. 03/30/00 255,000 42,500
------------ ------------
786,250 106,250
------------ ------------
EURO-PRO CORPORATION
A designer, marketer and distributor of floor care, steam
cleaning and small kitchen products and appliances.
13.25% Senior Subordinated Note due 2011 $ 2,125,000 09/09/03 2,089,359 1,062,500
16.03% Overdue Interest Secured Note due 2008 (C) $ 143,465 01/13/06 129,118 129,118
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 43,878 shs. 09/09/03 35,641 --
------------ ------------
2,254,118 1,191,618
------------ ------------
EVANS CONSOLES, INC.
A designer and manufacturer of consoles and control
center systems.
Common Stock (B) 90,000 shs. 05/06/04 6 --
------------ ------------
6 --
------------ ------------
*10/30/03 and 01/02/04.
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11
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
FOWLER HOLDING, INC.
A provider of site development services to residential
homebuilders and developers in the Raleigh/Durham
region of North Carolina.
12% Senior Subordinated Note due 2013 $ 2,365,217 02/03/06 $ 2,123,443 $ 2,311,881
Common Stock (B) 185 shs. 02/03/06 184,783 166,302
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 254 shs. 02/03/06 208,435 3
------------ ------------
2,516,661 2,478,186
------------ ------------
FUEL SYSTEMS HOLDING CORPORATION
An independent North American supplier of fuel tanks for
a wide variety of commercial vehicles.
12% Senior Subordinated Note due 2014 $ 2,337,500 01/31/06 2,172,734 2,298,305
Common Stock (B) 212,500 shs. 01/31/06 212,500 191,250
Warrant, exercisable until 2016, to purchase
common stock at $.01 per share (B) 138,408 shs. 01/31/06 119,213 1,384
------------ ------------
2,504,447 2,490,939
------------ ------------
H M HOLDING COMPANY
A designer, manufacturer, and importer of promotional and
wood furniture.
12% Senior Subordinated Note due 2013 $ 2,210,000 02/10/06 2,049,848 2,169,973
Common Stock (B) 340 shs. 02/10/06 340,000 306,000
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 126 shs. 02/10/06 116,875 1
------------ ------------
2,506,723 2,475,974
------------ ------------
HIGHGATE CAPITAL LLC
An acquirer of controlling or substantial interests in
manufacturing and marketing entities.
Series A Preferred Units (B) 1.19% int. 07/21/94 367,440 2,947
------------ ------------
HOME DECOR HOLDING COMPANY
A designer, manufacturer and marketer of framed art and
wall decor products.
12.5% Senior Subordinated Note due 2012 $ 2,043,269 * 1,865,497 2,052,852
Common Stock (B) 63 shs. * 62,742 71,994
Warrant, exercisable until 2012, to purchase
common stock at $.02 per share (B) 200 shs. * 199,501 228,926
------------ ------------
2,127,740 2,353,772
------------ ------------
INTEGRATION TECHNOLOGY SYSTEMS, INC.
A manufacturer of steel protective computer and network
systems for the industrial and office environments.
12% Senior Secured Note due 2006 $ 1,644,444 03/01/04 1,646,101 1,248,333
Common Stock (B) 228 shs. 06/01/00 262,200 --
------------ ------------
1,908,301 1,248,333
------------ ------------
*06/30/04 and 08/19/04.
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12
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
ITC^DELTACOM, INC.
A provider of integrated communications services in the
southeastern United States.
13.19% Senior Secured Note due 2009 (C) $ 2,212,704 07/26/05 $ 2,168,533 $ 2,193,180
16.69% Senior Secured Note due 2009 (C) $ 349,753 07/26/05 306,837 347,826
Warrant, exercisable until 2009, to purchase
convertible preferred stock at $.01 per share (B) 102,884 shs. 07/26/05 34,295 109,057
------------ ------------
2,509,665 2,650,063
------------ ------------
JASON, INC.
A diversified manufacturing company serving various
industrial markets.
13% Senior Subordinated Note due 2008 $ 963,687 08/04/00 911,087 948,794
14% Cumulative Redeemable Preferred Stock Series A (B) 289 shs. 08/04/00 289,224 281,890
Limited Partnership Interests of
Saw Mill Capital Fund II, L.P. (B) 2.50% int. 08/03/00 886,361 709,205
Warrants, exercisable until 2008 and 2009, to purchase
common stock at $.01 per share (B) 50,870 shs. 08/04/00 115,412 40,694
------------ ------------
2,202,084 1,980,583
------------ ------------
JUSTRITE MANUFACTURING ACQUISITION CO.
A manufacturer of safety products such as storage cabinets
and containers.
12% Senior Subordinated Note due 2011 $ 1,593,750 12/15/04 1,504,202 1,553,563
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 1,121 shs. 12/15/04 101,109 11
------------ ------------
1,605,311 1,553,574
------------ ------------
KEEPSAKE QUILTING, INC.
A seller of quilting fabrics, books, patterns, kits and
notions to consumers.
8.33% Senior Secured Revolving Note due 2006 (C) $ 36,693 06/16/00 36,693 36,604
8.33% Senior Secured Tranche A Note due 2007 (C) $ 343,995 06/16/00 343,995 340,757
12% Senior Secured Tranche B Note due 2008 $ 550,392 06/16/00 532,742 556,163
Limited Partnership Interest of
Riverside XVI Holding Company, L.P. (B) 5.29% int. 06/12/00 333,490 238,027
Warrant, exercisable until 2008, to purchase
common stock at $.01 per share (B) 1,108 shs. 06/12/00 45,866 79,071
------------ ------------
1,292,786 1,250,622
------------ ------------
KELE AND ASSOCIATES, INC.
A distributor of building automation control products.
12% Senior Subordinated Note due 2012 $ 1,831,548 02/27/04 1,683,675 1,850,096
Preferred Stock (B) 23 shs. 11/24/04 449,164 456,950
Common Stock (B) 12 shs. 02/27/04 12,871 175,834
Warrant, exercisable until 2012, to purchase
common stock at $.02 per share (B) 11 shs. 02/27/04 7,793 160,940
------------ ------------
2,153,503 2,643,820
------------ ------------
KEYSTONE NORTH AMERICA, INC.
An operator of funeral homes in North America.
Common Stock (B) 49,216 shs. 02/08/05 236,709 313,407
------------ ------------
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13
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
LIH INVESTORS, L.P.
A manufacturer and marketer of a broad line of external
accessories for new and used sport utility vehicles, trucks
and vans.
12.5% Senior Subordinated Note due 2008 $ 3,845,000 * $ 3,557,700 $ 3,819,407
Common Stock (B) 5,800 shs. * 406,003 223,300
Warrant, exercisable until 2006, to purchase
common stock at $.11 per share (B) 15,572 shs. * 602,127 599,522
------------ ------------
4,565,830 4,642,229
------------ ------------
MAVERICK ACQUISITION COMPANY
A manufacturer of capsules that cover the cork and neck of
wine bottles.
9.27% Senior Secured Revolving Note due 2009 (C) $ 37,220 02/21/06 37,220 36,960
9.03% Senior Secured Tranche A Note due 2010 (C) $ 724,813 09/03/04 724,813 724,977
12% Senior Secured Tranche B Note due 2011 $ 313,433 09/03/04 279,555 312,939
Limited Partnership Interest (B) 7.84% int. 09/03/04 58,769 52,892
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 425 shs. 09/03/04 39,473 4
------------ ------------
1,139,830 1,127,772
------------ ------------
MAXON CORPORATION
A manufacturer of industrial combustion equipment and
related shut-off valves and control valves.
12% Senior Subordinated Note due 2012 $ 962,215 09/30/04 882,300 975,236
8.75% Senior Subordinated Note due 2012 $ 1,281,112 09/30/04 1,281,112 1,306,229
Common Stock (B) 381,672 shs. 09/30/04 381,672 552,661
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 153,572 shs. 09/30/04 90,897 222,372
------------ ------------
2,635,981 3,056,498
------------ ------------
MEDASSIST, INC.
A provider of patient eligibility and accounts receivable
management services to hospitals and physician practices.
8% Preferred Stock (B) 84 shs. 10/28/04 83,658 83,402
Common Stock (B) 26,185 shs. 10/02/04 35,088 40,534
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 88,948 shs. 05/01/03 40,675 136,891
------------ ------------
159,421 260,827
------------ ------------
MICROGROUP, INC.
A manufacturer of precision parts and assemblies, and a
value-added supplier of metal tubing and bars.
12% Senior Subordinated Note due 2013 $ 2,142,000 08/12/05 2,010,863 2,113,744
Common Stock (B) 408 shs. 08/12/05 408,000 367,200
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 137 shs. 08/12/05 137,088 1
------------ ------------
2,555,951 2,480,945
------------ ------------
*12/23/98 and 01/28/99.
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14
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
MONESSEN HOLDING CORPORATION
A designer and manufacturer of a broad line of gas, wood,
and electric hearth products and accessories.
12% Senior Subordinated Note due 2014 $ 2,550,000 03/31/06 $ 2,360,875 $ 2,518,125
Warrant, exercisable until 2014, to purchase
common stock at $.01 per share (B) 152 shs. 03/31/06 138,125 2
------------ ------------
2,499,000 2,518,127
------------ ------------
MOSS, INC.
A manufacturer and distributor of large display and
exhibit structures.
8.54% Senior Secured Revolving Note due 2010 (C) $ 92,647 12/21/05 90,588 91,807
8.54% Senior Secured Tranche A Note due 2010 (C) $ 350,000 12/21/05 309,853 346,550
12% Senior Secured Tranche B Note due 2010 $ 1,019,118 12/21/05 1,008,927 1,010,452
Limited Partnership Interest of
Riverside Capital Appreciation Fund I, L.P. (B) 33.59% int. * 49 150,433
Warrant, exercisable until 2010, to purchase
common stock at $.01 per share (B) 214 shs. 09/21/00 36,647 2
------------ ------------
1,446,064 1,599,244
------------ ------------
MUSTANG VENTURES COMPANY
A natural gas gathering and processing operation located in
Oklahoma and Texas.
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 16,535 shs. 12/11/02 493,501 3,472,430
------------ ------------
NABCO, INC.
A producer of explosive containment vessels in the
United States.
12% Senior Subordinated Note due 2014 $ 625,000 02/24/06 575,539 612,328
Limited Partnership Interest (B) 650 uts. 02/24/06 650,000 617,500
Warrant, exercisable until 2016, to purchase
common stock at $.01 per share (B) 48 shs. 02/24/06 37,188 --
------------ ------------
1,262,727 1,229,828
------------ ------------
NEFF MOTIVATION, INC.
A manufacturer and distributor of customized awards and
sportswear to schools.
12.5% Senior Subordinated Note due 2011 $ 1,062,500 01/31/03 926,187 1,090,800
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 212 shs. 01/31/03 180,625 206,053
------------ ------------
1,106,812 1,296,853
------------ ------------
NONNI'S FOOD COMPANY
A producer and distributor of premium biscotti and bagel
chips in North America.
12.25% Senior Subordinated Note due 2012 $ 1,863,462 03/29/04 1,856,139 1,862,144
10% Preferred Stock (B) 255 shs. 03/29/04 255,083 254,288
Common Stock (B) 6,455 shs. 03/29/04 6,455 49,497
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 8,622 shs. 03/29/04 7,323 66,037
------------ ------------
2,125,000 2,231,966
------------ ------------
*09/20/00 and 05/23/02.
----------------------------------------------------------------------------------------------------------------------------------
15
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
NYLONCRAFT, INC.
A supplier of engineered plastic components for the
automotive industry.
9% Senior Secured Note due 2009 $ 812,500 01/28/02 $ 812,500 $ 787,875
11.5% Senior Subordinated Note due 2012 $ 1,500,000 01/28/02 1,385,638 1,403,968
Common Stock (B) 312,500 shs. 01/28/02 312,500 250,000
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 243,223 shs. 01/28/02 162,045 2,432
------------ ------------
2,672,683 2,444,275
------------ ------------
O R S NASCO HOLDING, INC.
A wholesale distributor of industrial supplies in
North America.
13% Senior Subordinated Note due 2013 $ 2,372,732 12/20/05 2,228,018 2,311,670
Common Stock (B) 177,268 shs. 12/20/05 177,268 159,541
Warrant, exercisable until 2015, to purchase
common stock at $.01 per share (B) 99,771 shs. 12/20/05 98,773 998
------------ ------------
2,504,059 2,472,209
------------ ------------
OAKRIVER TECHNOLOGY, INC.
Designs, engineers and assembles high precision
automated process equipment for the medical device
industry, with a focus on defibrillators and stents.
10% Senior Secured Note due 2012 $ 565,452 01/03/06 556,970 558,257
13% Senior Subordinated Note due 2013 $ 687,241 01/03/06 611,548 678,145
Common Stock (B) 322,307 shs. 01/03/06 322,307 290,076
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 72,185 shs. 01/03/06 62,824 722
------------ ------------
1,553,649 1,527,200
------------ ------------
OLYMPIC SALES, INC.
A boat retailer in Washington state, Oregon, California and
British Columbia.
14% Senior Subordinated Note due 2006 $ 2,482,000 08/07/98 2,482,000 2,459,061
12% Senior Subordinated Note due 2008 $ 307,071 02/09/00 296,430 298,123
Limited Partnership Interest of Riverside VIII,
VIII-A and VIII-B Holding Company, L.P. (B) 20.57% int. * 1,555,820 1,337,139
Warrants, exercisable until 2007 and 2008, to purchase
common stock at $.01 per share (B) 28,648 shs. ** 389,188 88,695
------------ ------------
4,723,438 4,183,018
------------ ------------
ONTARIO DRIVE & GEAR LTD.
A manufacturer of all-wheel drive, off-road amphibious
vehicles and related accessories.
13% Senior Subordinated Note due 2013 $ 1,977,885 01/17/06 1,770,654 1,951,463
Limited Partnership Interest (B) 3,667 uts. 01/17/06 572,115 514,903
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 619 shs. 01/17/06 170,801 6
------------ ------------
2,513,570 2,466,372
------------ ------------
*08/07/98, 02/23/99, 12/22/99 and 02/25/03.
**08/07/98 and 02/09/00.
----------------------------------------------------------------------------------------------------------------------------------
16
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
P I I HOLDING CORPORATION
A manufacturer of plastic film and bags for the general
industrial, medical, and food industries.
12% Senior Subordinated Note due 2013 $ 2,295,000 03/31/06 $ 2,137,882 $ 2,250,707
Preferred Stock (B) 36 shs. 03/31/06 329,596 313,116
Common Stock (B) 23 shs. 03/31/06 25,500 22,950
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 13 shs. 03/31/06 11,122 --
------------ ------------
2,504,100 2,586,773
------------ ------------
PARADIGM PACKAGING, INC.
A manufacturer of plastic bottles and closures for the
nutritional, pharmaceutical, personal care and food
packaging markets.
12% Senior Subordinated Note due 2008 $ 2,125,000 12/19/00 1,999,084 2,117,733
Membership Interests of MM/Lincap
PPI Investments, Inc., LLC (B) 2.42% int. 12/21/00 265,625 150,741
------------ ------------
2,264,709 2,268,474
------------ ------------
PROTEIN GENETICS, INC.
A producer of bovine artificial insemination
products, related breeding and healthcare products and
specialty genetics sold to the dairy and beef industries.
9.8% Redeemable Exchangeable Preferred Stock (B) 1,004 shs. 08/12/94 100,350 --
Common Stock (B) 2,600 shs. * 126,866 --
------------ ------------
227,216 --
------------ ------------
QUALIS AUTOMOTIVE LLC
A distributor of aftermarket automotive brake and
chassis products.
12% Senior Subordinated Note due 2012 $ 1,770,834 05/28/04 1,453,161 1,779,642
Common Stock (B) 354,166 shs. 05/28/04 354,166 467,499
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 377,719 shs. 05/28/04 377,719 495,567
------------ ------------
2,185,046 2,742,708
------------ ------------
QUALSERV CORPORATION
A provider of foodservice equipment and supplies, to
major restaurant chains and their franchisees.
14% Senior Subordinated Note due 2012 (D) $ 1,893,563 07/09/04 1,844,035 1,136,138
Limited Partnership Interest (B) 9.26% int. 07/09/04 259,146 --
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 528 shs. 07/09/04 49,061 --
------------ ------------
2,152,242 1,136,138
------------ ------------
RADIAC ABRASIVES, INC.
A manufacturer of bonded abrasive and super abrasive
grinding wheels in the United States.
12% Senior Subordinated Note due 2014 $ 2,260,638 02/10/06 2,096,518 2,227,081
Common Stock (B) 289,362 02/10/06 289,362 260,424
Warrant, exercisable until 2016, to purchase
common stock at $.01 per share (B) 131,555 02/10/06 119,796 1
------------ ------------
2,505,676 2,487,506
------------ ------------
*11/14/01 and 08/12/94.
----------------------------------------------------------------------------------------------------------------------------------
17
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
RIVER RANCH FRESH FOODS LLC
A supplier of fresh produce to the retail and
foodservice channels.
13% Senior Subordinated Note due 2011 (D) $ 1,841,667 09/29/04 $ 1,683,764 $ 1,657,500
Limited Partnership Interest (B) 40,610 uts. 09/29/04 283,333 --
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 23,575 shs. 09/29/04 157,903 --
------------ ------------
2,125,000 1,657,500
------------ ------------
ROYAL BATHS MANUFACTURING COMPANY
A manufacturer and distributor of acrylic and cultured
marble bathroom products.
12.5% Senior Subordinated Notes due 2011 $ 1,062,500 11/14/03 962,899 1,054,678
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 140 shs. 11/14/03 122,946 71,317
------------ ------------
1,085,845 1,125,995
------------ ------------
SAFETY SPEED CUT MANUFACTURING COMPANY, INC.
A manufacturer of vertical panel saws and routers for the
wood working industry.
7.91% Senior Secured Tranche A Note due 2007 (C) $ 683,102 06/02/99 683,102 683,102
12% Senior Secured Tranche B Note Due 2007 $ 1,130,652 06/02/99 1,130,652 1,130,652
Class B Common Stock (B) 1,480 shs. 06/02/99 256,212 489,750
------------ ------------
2,069,966 2,303,504
------------ ------------
SAVAGE SPORTS HOLDING, INC.
A manufacturer of sporting firearms.
12% Senior Subordinated Note due 2012 $ 1,538,793 09/10/04 1,437,956 1,522,652
Common Stock (B) 586 shs. 09/10/04 586,207 478,207
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 134 shs. 09/10/04 113,578 109,001
------------ ------------
2,137,741 2,109,860
------------ ------------
SPECIALTY FOODS GROUP, INC.
A manufacturer and distributor of branded meat products.
Limited Partnership Interest of MHD Holdings LLC (B) 1.43% int. 08/29/00 579,736 --
------------ ------------
STRATEGIC EQUIPMENT & SUPPLY CORPORATION, INC.
A provider of kitchen and restaurant design, equipment
fabrication and installation services.
Warrant, exercisable until 2008, to purchase
common stock at $.01 per share (B) 106,539 shs. 01/14/00 658,751 --
------------ ------------
SYNVENTIVE EQUITY LLC
A manufacturer of hot runner systems used in the plastic
injection molding process.
Limited Partnership Interest (B) 1.99% int. 08/20/03 63,207 14,100
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 86,780 shs. 08/21/03 19,359 19,359
------------ ------------
82,566 33,459
------------ ------------
----------------------------------------------------------------------------------------------------------------------------------
18
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
TANGENT RAIL CORPORATION
A manufacturer of rail ties and provides specialty services
to the North American railroad industry.
13% Senior Subordinated Note due 2013 $ 2,217,385 10/14/05 $ 1,888,284 $ 2,242,567
Preferred Stock (B) 3,304 shs. 10/14/05 330,412 333,194
Common Stock (B) 2,203 shs. 10/14/05 2,203 1,983
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 1,167 shs. 10/14/05 294,403 12
------------ ------------
2,515,302 2,577,756
------------ ------------
TERRA RENEWAL SERVICES, INC.
A provider of wastewater residual management and
required environmental reporting, permitting, nutrient
management planning and record keeping to companies
involved in poultry and food processing.
7.78% Senior Secured Term A Note due 2010 (C) $ 204,394 03/01/05 204,394 205,615
8.28% Senior Secured Term B Note due 2012 (C) $ 362,989 03/01/05 362,989 365,135
12% Senior Subordinated Note due 2013 $ 1,025,391 03/01/05 973,780 1,013,657
Limited Partnership Interest of
Saw Mill Capital Fund V, L.P. (B) 4.00% int. 03/01/05 412,207 370,989
Warrant, exercisable until 2015, to purchase
common stock at $.01 per share (B) 65 shs. 03/01/05 56,171 1
------------ ------------
2,009,541 1,955,397
------------ ------------
THE TRANZONIC COMPANIES
A producer of commercial and industrial supplies,
such as safety products, janitorial supplies, work
apparel, washroom and restroom supplies and sanitary
care products.
13% Senior Subordinated Note due 2009 $ 2,712,000 02/05/98 2,538,475 2,712,000
Common Stock (B) 630 shs. 02/04/98 630,000 636,741
Warrant, exercisable until 2006, to purchase
common stock at $.01 per share (B) 444 shs. 02/05/98 368,832 448,751
------------ ------------
3,537,307 3,797,492
------------ ------------
TRANSTAR HOLDING COMPANY
A distributor of aftermarket automotive transmission parts.
12% Senior Subordinated Note due 2013 $ 1,734,000 08/31/05 1,659,049 1,729,885
Common Stock (B) 816 shs. 08/31/05 816,000 775,200
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 86 shs. 08/31/05 77,485 1
------------ ------------
2,552,534 2,505,086
------------ ------------
TRONAIR, INC.
A designer, engineer and manufacturer of ground support
equipment for the business, commuter and commercial
aviation markets.
10.5% Senior Secured Term Note due 2008 $ 789,836 01/20/00 789,836 788,145
12% Senior Subordinated Note due 2010 $ 1,326,500 01/20/00 1,277,529 1,323,677
Common Stock (B) 227,400 shs. 01/20/00 227,400 204,660
Warrant, exercisable until 2010, to purchase
common stock at $1 per share (B) 260,563 shs. 01/20/00 98,540 2,606
------------ ------------
2,393,305 2,319,088
------------ ------------
----------------------------------------------------------------------------------------------------------------------------------
19
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
TRUCK BODIES & EQUIPMENT INTERNATIONAL
A designer and manufacturer of accessories for heavy
and medium duty trucks, primarily dump bodies, hoists,
various forms of flat-bed bodies, landscape bodies and
other accessories.
12% Senior Subordinated Note due 2013 $ 2,309,541 * $ 2,148,372 $ 2,348,396
Common Stock (B) 742 shs. * 800,860 1,004,517
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 153 shs. * 159,894 207,469
------------ ------------
3,109,126 3,560,382
------------ ------------
TRUSTILE DOORS, INC.
A manufacturer and distributor of interior doors.
12.5% Senior Subordinated Note due 2010 $ 1,062,500 04/11/03 996,450 1,048,251
Warrant, exercisable until 2010, to purchase
common stock at $.01 per share (B) 5,781 shs. 04/11/03 95,625 44,744
------------ ------------
1,092,075 1,092,995
------------ ------------
TUBULAR TEXTILE MACHINERY
A designer, manufacturer, seller and servicer of finishing
machinery for the knit and woven segments of the global
textile industry.
12% Senior Subordinated Note due 2014 $ 1,234,551 05/28/04 1,119,173 1,184,882
8.75% Senior Secured Note due 2011 $ 716,292 05/28/04 716,292 701,954
Common Stock (B) 674,157 shs. 05/28/04 674,157 573,033
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 203,912 shs. 05/28/04 130,789 2,039
------------ ------------
2,640,411 2,461,908
------------ ------------
TVI, INC.
A retailer of used clothing in the United States, Canada
and Australia.
Common Stock (B) 354,167 shs. 05/02/00 354,167 556,042
------------ ------------
U S M HOLDINGS CORPORATION
A provider of facility maintenance services to retail and
corporate clients with multiple locations
12% Senior Subordinated Note due 2011 $ 894,737 08/06/03 776,842 919,681
Preferred Stock (B) 2,571 shs. 08/06/03 257,095 257,096
Common Stock (B) 1,032 shs. 08/06/03 1,032 2,580
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 949 shs. 08/06/03 298,198 2,373
------------ ------------
1,333,167 1,181,730
------------ ------------
*07/19/05 and 12/22/05.
----------------------------------------------------------------------------------------------------------------------------------
20
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES(A)(Continued) Principal Amount Date Cost Fair Value
-------------- -------- ------------ ------------
U S S HOLDINGS, INC.
A producer of high grade industrial and specialty
silica sands.
14% Redeemable Preferred Stock (B) 997 shs. 09/30/99 $ 545,858 $ 108,991
Convertible Preferred Stock Series A and B, convertible
into common stock at $9.26 per share (B) 145,446 shs. 12/19/96 1,166,829 --
Common Stock (B) 20,027 shs. 09/30/99 799,068 --
Warrants, exercisable until 2010, to
purchase common stock at $.01 per share (B) 4,918 shs. 12/19/96 128,372 --
------------ ------------
2,640,127 108,991
------------ ------------
U-LINE CORPORATION
A manufacturer of high-end, built-in, undercounter
icemaking, wine storage and refrigeration appliances.
12.5% Senior Subordinated Note due 2012 $ 1,882,100 04/30/04 1,699,986 1,928,015
Common Stock (B) 182 shs. 04/30/04 182,200 229,572
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 230 shs. 04/30/04 211,736 290,329
------------ ------------
2,093,922 2,447,916
------------ ------------
VICTORY VENTURES LLC
An acquirer of controlling or substantial interests in other entities.
Series A Preferred Units (B) 0.15% int. 12/02/96 1 2
------------ ------------
VITALITY FOODSERVICE, INC.
A non-carbonated beverage dispensing company focused
on the foodservice industry.
13% Senior Subordinated Note due 2011 $ 1,887,288 09/24/04 1,726,120 1,867,830
Common Stock (B) 23,771 shs. 09/24/04 237,710 326,328
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 23,787 shs. 09/24/04 186,883 326,548
------------ ------------
2,150,713 2,520,706
------------ ------------
VITEX PACKAGING GROUP, INC.
A manufacturer of specialty packaging, primarily
envelopes and tags used on tea bags.
12.5% Senior Subordinated Note due 2012 $ 1,700,000 07/19/04 1,483,065 1,617,494
Limited Partnership Interest Class A (B) 1.75% int. 07/19/04 414,375 372,938
Limited Partnership Interest Class B (B) 0.77% int. 07/19/04 182,935 164,642
------------ ------------
2,080,375 2,155,074
------------ ------------
WALLS INDUSTRIES, INC.
A provider of branded workwear and sporting
goods apparel.
10% Senior Subordinated Lien Note due 2009 $ 838,816 07/12/04 838,816 850,056
14% Senior Subordinated Note due 2012 $ 1,064,098 07/12/04 1,061,292 1,096,021
Limited Partnership Interest (B) 0.40% int. 07/12/04 37,281 100,659
Warrant, exercisable until 2014, to purchase
common stock at $.01 per share (B) 4,029 shs. 07/12/04 2,833 10,842
------------ ------------
1,940,222 2,057,578
------------ ------------
TOTAL PRIVATE PLACEMENT INVESTMENTS $154,869,744 $155,676,193
------------ ------------
----------------------------------------------------------------------------------------------------------------------------------
21
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares or
Interest Due Principal
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Rate Date Amount Cost Fair Value
------- -------- ------------ ------------ ------------
RULE 144A SECURITIES - 6.09%:
BONDS - 5.52%
A E S Corporation 9.000% 05/15/15 $ 200,000 $ 200,000 $ 217,000
A M C Entertainment, Inc. 11.000 02/01/16 815,000 817,381 841,486
Activant Solutions, Inc. (C) 10.530 04/01/10 825,000 825,000 841,500
Atlas Pipeline Partners 8.125 12/15/15 200,000 200,000 208,500
Blockbuster, Inc. 9.000 09/01/12 475,000 476,931 415,625
Bombardier, Inc. 6.300 05/01/14 1,000,000 890,000 917,500
Calpine Corporation 8.750 07/15/13 500,000 465,000 458,750
Charter Communications Op LLC 8.000 04/30/12 250,000 249,375 248,750
Douglas Dynamics LLC 7.750 01/15/12 630,000 633,663 611,100
Dynegy Holdings, Inc. 8.375 05/01/16 330,000 330,000 330,000
G F S I, Inc. 11.000 06/01/11 750,000 682,540 727,500
Inergy LP 8.250 03/01/16 150,000 150,000 153,375
Interactive Health LLC 7.250 04/01/11 900,000 761,330 702,000
Neiman Marcus Group, Inc. 10.375 10/15/15 1,250,000 1,250,000 1,328,125
P Q Corporation 7.500 02/15/13 1,100,000 1,088,750 1,056,000
Pregis Corporation 12.375 10/15/13 1,000,000 981,490 1,050,000
Service Corporation International (C) 7.500 06/15/17 1,000,000 90,030 1,017,500
Siebe PLC 6.500 01/15/10 650,000 572,000 614,250
Sierra Pacific Resources 6.750 08/15/17 635,000 638,257 637,381
Sungard Data Systems 9.125 08/15/13 175,000 175,000 185,063
Tekni-Plex, Inc. 10.875 08/15/12 250,000 250,000 276,875
Tekni-Plex, Inc. 8.750 11/15/13 650,000 655,964 611,000
Tenaska Alabama Partners LP 7.000 06/30/21 354,694 354,694 355,844
------------ ------------
TOTAL BONDS 13,637,405 13,805,124
------------ ------------
COMMON STOCK - 0.00%
Jordan Telecom Products (B) 70 $ 14,000 --
------------ ------------
TOTAL COMMON STOCK 14,000 --
------------ ------------
CONVERTIBLE BONDS - 0.57%
Cymer, Inc. 3.500% 02/15/09 $ 850,000 $ 850,000 $ 862,750
Q L T, Inc. 3.000 09/15/23 600,000 546,257 548,250
------------ ------------
TOTAL CONVERTIBLE BONDS 1,396,257 1,411,000
------------ ------------
WARRANTS - 0.00%
Winsloew Furniture, Inc. (B) 900 $ 9 $ --
------------ ------------
TOTAL WARRANTS 9 --
____________ ____________
TOTAL RULE 144A SECURITIES 15,047,671 15,216,124
____________ ____________
TOTAL CORPORATE RESTRICTED SECURITIES $169,917,415 $170,892,317
------------ ------------
----------------------------------------------------------------------------------------------------------------
22
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Interest Due Principal
CORPORATE PUBLIC SECURITIES - 32.36%: (A) Rate Date Amount Cost Market Value
------- -------- ------------ ------------ ------------
BONDS - 28.59%
Abitibi-Consolidated, Inc. 7.750% 06/15/11 $ 1,000,000 $ 1,030,788 $ 965,000
Activant Solutions, Inc. (C) 10.500 06/15/11 585,000 584,390 647,888
Affinia Group, Inc. 9.000 11/30/14 910,000 834,625 782,600
Alamosa Delaware, Inc. 11.000 07/31/10 325,000 329,368 361,563
Alamosa Delaware, Inc. 8.500 01/31/12 400,000 400,000 431,000
ALH Fin LLC/ALH Fin Corporation 8.500 01/15/13 950,000 918,813 931,000
Allied Waste NA 7.875 04/15/13 1,000,000 1,024,178 1,043,750
Appleton Papers, Inc. 8.125 06/15/11 300,000 300,000 301,500
Argo Tech Corporation 9.250 06/01/11 850,000 850,000 896,750
Bally Total Fitness Holding Corporation 9.875 10/15/07 135,000 128,925 135,000
BCP Crystal US Holdings Corporation 9.625 06/15/14 485,000 485,000 537,138
C C O Holdings LLC / Cap Corporation (C) 9.035 12/15/10 500,000 499,617 496,875
C S C Holdings, Inc. 7.625 04/01/11 500,000 501,817 502,500
Cablevision Systems Corporation (C) 8.716 04/01/09 1,000,000 1,000,000 1,048,750
Cadmus Communications Corporation 8.375 06/15/14 750,000 750,000 753,750
Cenveo Corporation 7.875 12/01/13 1,100,000 1,100,000 1,075,250
Charter Communication Holdings LLC 10.000 04/01/09 1,000,000 815,000 677,500
Chemed Corporation 8.750 02/24/11 1,125,000 1,125,000 1,192,500
Chesapeake Energy Corporation 7.000 08/15/14 1,075,000 1,113,663 1,099,188
Cincinnati Bell, Inc. 8.375 01/15/14 1,100,000 1,007,500 1,117,875
Clayton Williams Energy, Inc. 7.750 08/01/13 800,000 800,000 752,000
Del Monte Corporation 8.625 12/15/12 225,000 225,000 237,656
Dollar Financial Group 9.750 11/15/11 600,000 600,000 630,000
Dominos, Inc. 8.250 07/01/11 292,000 289,892 299,300
Dynegy Holdings, Inc. 6.875 04/01/11 500,000 422,500 482,500
El Paso Corporation 7.875 06/15/12 1,050,000 1,062,649 1,093,313
Esterline Technologies 7.750 06/15/13 200,000 200,000 205,500
Flextronics International Ltd. 6.500 05/15/13 400,000 400,000 397,000
Ford Motor Credit Company 7.375 10/28/09 1,250,000 1,246,874 1,175,165
Gencorp, Inc. 9.500 08/15/13 259,000 259,000 279,720
General Motors Acceptance Corporation 7.750 01/19/10 1,250,000 1,302,708 1,218,763
Geo Sub Corporation 11.000 05/15/12 600,000 595,500 591,000
Goodyear Tire & Rubber Company 7.857 08/15/11 1,400,000 1,342,750 1,368,500
Great Lakes Dredge & Dock Corporation 7.750 12/15/13 1,015,000 926,319 949,025
GulfMark Offshore, Inc. 7.750 07/15/14 565,000 562,599 576,300
Houghton Mifflin Co. 9.875 02/01/13 1,000,000 1,049,266 1,075,000
Huntsman LLC 11.625 10/15/10 324,000 320,161 366,930
Imax Corporation 9.625 12/01/10 1,000,000 1,031,395 1,060,000
Insurance Auto Auctions, Inc. 11.000 04/01/13 1,000,000 1,009,826 1,052,500
Intelsat Subsidiary Holding Company Ltd. (C) 9.614 01/15/12 450,000 449,995 457,312
Intelsat Subsidiary Holding Company Ltd. (C) 8.250 01/15/13 500,000 501,909 508,750
Iron Mountain, Inc. 6.625 01/01/16 1,000,000 951,250 940,000
Koppers, Inc. 9.875 10/15/13 477,000 477,000 522,315
Land O'Lakes, Inc. 9.000 12/15/10 750,000 750,000 798,750
Lazard LLC 7.125 05/15/15 750,000 749,407 779,166
Leucadia National Corporation 7.000 08/15/13 650,000 661,999 651,625
Liberty Media Corporation 5.700 05/15/13 1,000,000 951,610 929,910
Lodgenet Entertainment Corporation 9.500 06/15/13 425,000 425,000 459,000
Lyondell Chemical Co. 9.500 12/15/08 530,000 517,668 551,200
M G M Mirage, Inc. 6.000 10/01/09 375,000 379,102 369,375
M S X International, Inc. 11.000 10/15/07 350,000 347,004 332,500
Mac-Gray Corporation 7.625 08/15/15 600,000 600,000 612,000
----------------------------------------------------------------------------------------------------------------
23
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Interest Due Principal
CORPORATE PUBLIC SECURITIES(A)(Continued) Rate Date Amount Cost Market Value
------- -------- ------------ ------------ ------------
BONDS, CONTINUED
Magnachip Semiconductor 8.000% 12/15/14 $ 100,000 $ 100,000 $ 93,500
Majestic Star Casino LLC 9.500 10/15/10 500,000 500,000 530,000
Manitowoc Company, Inc. 7.125 11/01/13 200,000 200,000 204,000
Markwest Energy Operating Co. 6.875 11/01/14 475,000 475,000 448,875
Mediacom LLC 9.500 01/15/13 1,000,000 1,002,685 990,000
Metaldyne Corporation 11.000 06/15/12 750,000 601,250 597,188
Metaldyne Corporation 10.000 11/01/13 510,000 513,701 476,850
Moog, Inc. 6.250 01/15/15 120,000 120,000 118,200
Mrs. Fields Brands 11.500 03/15/11 750,000 713,710 637,500
N R G Energy, Inc. 7.375 02/01/16 175,000 175,000 178,719
Nalco Co. 7.750 11/15/11 500,000 500,000 506,250
National Wine & Spirits, Inc. 10.125 01/15/09 1,135,000 1,127,806 1,143,513
Newark Group, Inc. 9.750 03/15/14 140,000 128,800 127,400
North American Energy Partners 8.750 12/01/11 400,000 400,000 390,000
Nova Chemicals Corporation (C) 7.561 11/15/13 475,000 475,000 477,375
NTL Holdings (C) 10.321 03/03/16 200,000 200,000 200,000
O E D Corp/Diamond Jo Company Guarantee 8.750 04/15/12 1,000,000 985,960 1,000,000
O M Group, Inc. 9.250 12/15/11 750,000 773,377 776,250
Offshore Logistics, Inc. 6.125 06/15/13 450,000 450,000 423,000
Pacific Energy Partners 7.125 06/15/14 500,000 503,997 508,750
Pacific Energy Partners 6.250 09/15/15 150,000 149,316 146,250
Pinnacle Foods Group 8.250 12/01/13 450,000 450,000 445,500
Pliant Corporation 11.625 06/15/09 787,891 804,299 882,438
Pogo Producing Co. 6.875 10/01/17 500,000 500,000 493,750
Primedia, Inc. 8.000 05/15/13 1,000,000 1,024,687 915,000
Quality Distribution LLC 9.100 01/15/12 325,000 323,375 321,750
Quicksilver Resources, Inc 7.125 04/01/16 500,000 500,000 493,750
Quintiles Transnational Corporation 10.000 10/01/13 500,000 500,000 576,250
Rayovac Corporation 8.500 10/01/13 200,000 200,000 185,000
Rent-A-Center, Inc. 7.500 05/01/10 400,000 400,000 400,000
Rent-Way, Inc. 11.875 06/15/10 800,000 836,954 836,000
Rhodia SA 10.250 06/01/10 519,000 530,919 581,929
Rhodia SA 8.875 06/01/11 392,000 391,739 403,760
Rock-Tenn Co. 8.200 08/15/11 1,000,000 1,007,357 992,500
Rogers Wireless, Inc. 7.250 12/15/12 165,000 165,000 173,869
Rogers Wireless, Inc. 7.500 03/15/15 870,000 931,786 933,075
Rogers Wireless, Inc. 8.000 12/15/12 165,000 165,000 175,106
Samsonite Corporation 8.875 06/01/11 1,000,000 1,041,664 1,057,500
Sbarro, Inc. 11.000 09/15/09 1,000,000 1,014,998 1,017,500
Sea Containers Ltd. 10.500 05/15/12 460,000 449,948 431,250
Sheridan Acquisition Corporation 10.250 08/15/11 375,000 370,001 385,781
Stanadyne Corporation 10.000 08/15/14 1,500,000 1,500,000 1,436,250
Tekni-Plex, Inc. 12.750 06/15/10 1,000,000 960,125 645,000
Telex Communications, Inc. 11.500 10/15/08 500,000 500,000 533,750
Telex Communications, Inc. 0.000 01/15/09 471,915 206,820 292,587
Tenet Healthcare Corporation 6.375 12/01/11 500,000 482,500 451,250
Tenet Healthcare Corporation 9.875 07/01/14 500,000 488,370 506,250
Texas Industries, Inc. 7.250 07/15/13 70,000 70,000 72,100
Thermadyne Holdings Corporation 9.250 02/01/14 1,000,000 986,250 900,000
Transmontaigne, Inc. 9.125 06/01/10 520,000 511,075 552,500
Trimas Corporation 9.875 06/15/12 375,000 318,750 343,125
Triton P C S, Inc. 8.500 06/01/13 550,000 550,000 522,500
----------------------------------------------------------------------------------------------------------------
24
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Shares or
Interest Due Principal
CORPORATE PUBLIC SECURITIES(A)(Continued) Rate Date Amount Cost Market Value
------- -------- ------------ ------------ ------------
BONDS, CONTINUED
Unisys Corporation 8.000% 10/15/12 $ 190,000 $ 190,000 $ 186,675
United Components, Inc. 9.375 06/15/13 1,080,000 1,081,901 1,042,200
United Rentals, Inc. 7.750 11/15/13 625,000 625,000 625,000
United Rentals, Inc. 7.000 02/15/14 500,000 500,000 481,250
Universal City Florida (C) 9.000 05/01/10 200,000 200,000 203,000
Universal City Florida 8.375 05/01/10 200,000 200,000 201,500
Utilicorp United, Inc. 9.950 02/01/11 1,000,000 1,089,066 1,107,500
Vertis, Inc. 10.875 06/15/09 280,000 275,400 275,100
Vicorp Restaurants, Inc. 10.500 04/15/11 750,000 734,496 699,375
Vought Aircraft Industries 8.000 07/15/11 1,000,000 1,000,239 940,000
Warner Music Group 7.375 04/15/14 275,000 275,000 272,250
Wornick Company 10.875 07/15/11 750,000 750,000 772,500
------------ ------------
TOTAL BONDS 71,405,388 71,456,442
------------ ------------
COMMON STOCK - 2.60%
H C I Direct, Inc. (B) 1,000 $ -- $ --
PepsiAmericas, Inc. 92,145 2,006,365 2,252,945
Rent-Way, Inc. (B) 92,866 916,263 669,564
Supreme Industries, Inc. 115,722 267,325 859,814
Telex Communications, Inc. (B) 489 7 4,890
Telex Communications, Inc. (B) 17,707 1 177,075
Transmontaigne, Inc. (B) 258,720 798,595 2,538,043
------------ ------------
TOTAL COMMON STOCK 3,988,556 6,502,331
------------ ------------
CONVERTIBLE BONDS - 1.17%
Citadel Broadcasting Corporation 1.875% 02/15/11 $ 700,000 $ 543,375 $ 570,500
Graftech International 1.625 01/15/24 1,500,000 1,083,750 1,066,875
ICOS Corporation 2.000 07/01/23 750,000 596,250 593,438
Leucadia National Corporation 3.750 04/15/14 500,000 500,000 705,625
------------ ------------
TOTAL CONVERTIBLE BONDS 2,723,375 2,936,438
------------ ------------
TOTAL CORPORATE PUBLIC SECURITIES $ 78,117,319 $ 80,895,211
------------ ------------
Interest Due Principal
SHORT-TERM SECURITIES: Rate/Yield Date Amount Cost Market Value
------- -------- ------------ ------------ ------------
COMMERCIAL PAPER - 2.69%
DaimlerChrysler Corporation 4.833% 04/04/06 $ 2,950,000 $ 2,948,813 $ 2,948,813
Kraft Foods, Inc. 4.772 04/03/06 3,761,000 3,760,003 3,760,003
------------ ------------
TOTAL SHORT-TERM SECURITIES $ 6,708,816 $ 6,708,816
------------ ------------
TOTAL INVESTMENTS 103.42% $254,743,550 $258,496,344
============ ------------
Other Assets 5.88 14,692,727
Liabilities (9.30) (23,233,703)
------------
TOTAL NET ASSETS 100.00% $249,955,368
====== ============
(A) In each of the convertible note, warrant, convertible preferred and common
stock investments, the issuer has agreed to provide certain registration
rights.
(B) Non-income producing security.
(C) Variable rate security; rate indicated is as of 03/31/06.
(D) Defaulted security; interest not accrued.
----------------------------------------------------------------------------------------------------------------
25
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Fair Value/ Fair Value/
INDUSTRY CLASSIFICATION: Market Value Market Value
-------------- --------------
AEROSPACE - 2.18% BUILDINGS & REAL ESTATE - 1.53%
Argo Tech Corporation $ 896,750 Adorn, Inc. $ 2,648,541
Bombardier, Inc. 917,500 Texas Industries, Inc. 72,100
Consolidated Foundries Holdings 2,487,901 TruStile Doors, Inc. 1,092,995
Esterline Technologies 205,500 --------------
Vought Aircraft Industries 940,000 3,813,636
-------------- --------------
5,447,651 CHEMICAL, PLASTICS & RUBBER - 1.91%
-------------- Capital Specialty Plastics, Inc. 45,947
AUTOMOBILE - 8.22% Huntsman LLC 366,930
Gencorp, Inc. 279,720 Koppers, Inc. 522,315
Goodyear Tire & Rubber Co. 1,368,500 Lyondell Chemical Co. 551,200
Jason, Inc. 1,980,583 Nova Chemicals Corporation 477,375
LIH Investors, L.P. 4,642,229 O M Group, Inc. 776,250
Metaldyne Corporation 1,074,038 P Q Corporation 1,056,000
Nyloncraft, Inc. 2,444,275 Rhodia SA 985,689
Ontario Drive & Gear Ltd. 2,466,372 --------------
Qualis Automotive LLC 2,742,708 4,781,706
Transtar Holding Company 2,505,086 --------------
United Components, Inc. 1,042,200 CONSUMER PRODUCTS - 6.28%
-------------- ALH Fin LLC/ALH Fin Corporation 931,000
20,545,711 Appleton Papers, Inc. 301,500
-------------- Augusta Sportswear Holding Co. 2,137,084
BEVERAGE, DRUG & FOOD - 6.49% Euro-Pro Corporation 1,191,618
Beta Brands Ltd. -- G F S I, Inc. 727,500
Cains Foods, L.P. 356,927 H C I Direct, Inc. --
Del Monte Corporation 237,656 Maverick Acquisition Company 1,127,772
Dominos, Inc. 299,300 Rayovac Corporation 185,000
Eagle Pack Pet Foods, Inc. 1,155,646 Royal Baths Manufacturing Company 1,125,995
Land O'Lakes, Inc. 798,750 Savage Sports Holding, Inc. 2,109,860
Mrs. Fields Brands 637,500 The Tranzonic Companies 3,797,492
National Wine & Spirits, Inc. 1,143,513 Walls Industries, Inc. 2,057,578
Nonni's Food Company 2,231,966 Winsloew Furniture, Inc. --
PepsiAmericas, Inc. 2,252,945 --------------
Pinnacle Foods Group 445,500 15,692,399
River Ranch Fresh Foods LLC 1,657,500 --------------
Sbarro, Inc. 1,017,500 CONTAINERS, PACKAGING
Specialty Foods Group, Inc. -- & GLASS - 4.86%
Vicorp Restaurants, Inc. 699,375 NABCO, Inc. 1,229,828
Vitality Foodservice, Inc. 2,520,706 P I I Holding Corporation 2,586,773
Wornick Co. 772,500 Paradigm Packaging, Inc. 2,268,474
-------------- Pliant Corporation 882,438
16,227,284 Pregis Corporation 1,050,000
-------------- Sea Containers Ltd. 431,250
BROADCASTING & Tekni-Plex, Inc. 1,532,875
ENTERTAINMENT - 2.80% Vitex Packaging, Inc. 2,155,074
C C O Holdings LLC 496,875 --------------
C S C Holdings, Inc. 502,500 12,136,712
Cablevision Systems Corporation 1,048,750 --------------
Cenveo Corporation 1,075,250 DISTRIBUTION - 3.63%
Charter Communications Op LLC 926,250 Affina Group, Inc. 782,600
Citadel Broadcasting Company 570,500 Corvest Group, Inc. 2,025,853
Liberty Media Corporation 929,910 Kele and Associates, Inc. 2,643,820
Lodgenet Entertainment Corporation 459,000 O R S Nasco Holding, Inc. 2,472,209
Mediacom LLC 990,000 QualServ Corporation 1,136,138
-------------- Strategic Equipment & Supply Corporation, Inc. --
6,999,035 --------------
-------------- 9,060,620
--------------
------------------------------------------------------------------------------------------------------------------------------------
26
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Fair Value/ Fair Value/
INDUSTRY CLASSIFICATION: (Cont.) Market Value Market Value
-------------- --------------
DIVERSIFIED/CONGLOMERATE, FINANCIAL SERVICES - 2.29%
MANUFACTURING - 9.04% BCP Crystal US Holding Corporation $ 537,138
Activant Solutions, Inc. $ 1,489,388 Dollar Financial Group 630,000
AmerCable, Inc. 1,406,777 East River Ventures I, L.P. 21,706
Arrow Tru-Line Holdings, Inc. 2,084,305 Ford Motor Credit Co. 1,175,165
Coining Corporation of America LLC 1,947,525 General Motors Acceptance Corporation 1,218,763
Dexter Magnetics Technologies, Inc. 1,047,037 Highgate Capital LLC 2,947
Douglas Dynamics LLC 611,100 Lazard LLC 779,166
Evans Consoles, Inc. -- Leucadia National Corporation 1,357,250
Geo Sub Corporation 591,000 Victory Ventures LLC 2
Graftech International 1,066,875 --------------
Great Lakes Dredge & Dock Corporation 949,025 5,722,137
H M Holding Company 2,475,974 --------------
Justrite Manufacturing Acquisition Co. 1,553,574 HEALTHCARE, EDUCATION
Radiac Abrasives, Inc. 2,487,506 & CHILDCARE - 3.28%
Rock-Tenn Co. 992,500 A T I Acquisition Company 1,895,083
Trimas Corporation 343,125 American Hospice Management Holding LLC 2,672,944
Truck Bodies & Equipment International 3,560,382 ICOS Corporation 593,438
-------------- Interactive Health LLC 702,000
22,606,093 MedAssist, Inc. 260,827
-------------- Q L T, Inc. 548,250
DIVERSIFIED/CONGLOMERATE, Quintiles Transnational Corporation 576,250
SERVICE - 6.97% Tenet Healthcare Corporation 957,500
Abitibi-Consolidated, Inc. 965,000 --------------
Allied Waste NA 1,043,750 8,206,292
CapeSuccess LLC 5,862 --------------
Chemed Corporation 1,192,500 HOME & OFFICE FURNISHINGS,
Diversco, Inc./DHI Holdings, Inc. 2,505,724 HOUSEWARES, AND DURABLE CONSUMER
Dwyer Group, Inc. 2,826,280 PRODUCTS - 4.07%
Fowler Holding, Inc. 2,478,186 Connor Sport Court International, Inc. 1,802,907
Iron Mountain, Inc. 940,000 Home Decor Holding Company 2,353,772
Keystone North America, Inc. 313,407 Monessen Holding Corporation 2,518,127
Mac-Gray Corporation 612,000 Samsonite Corporation 1,057,500
Moss, Inc. 1,599,244 U-Line Corporation 2,447,916
M S X International, Inc. 332,500 --------------
Service Corporation International 1,017,500 10,180,222
U S M Holdings Corporation 1,181,730 --------------
Universal City Florida 404,500 LEISURE, AMUSEMENT,
-------------- ENTERTAINMENT - 2.18%
17,418,183 A M C Entertainment, Inc. 841,486
-------------- Bally Total Fitness Holding Corporation 135,000
ELECTRONICS - 2.74% IMAX Corporation 1,060,000
A E S Corporation 217,000 Keepsake Quilting, Inc. 1,250,622
Calpine Corporation 458,750 M G M Mirage, Inc. 369,375
Directed Electronics, Inc. 5,170,187 Majestic Star Casino LLC 530,000
Flextronics International Ltd. 397,000 O E D Corp/Diamond Jo Company Guarantee 1,000,000
Siebe PLC 614,250 Warner Music Group 272,250
-------------- --------------
6,857,187 5,458,733
-------------- --------------
FARMING & AGRICULTURE - 0.00%
Protein Genetics, Inc. --
--------------
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27
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
March 31, 2006
(Unaudited)
Fair Value/ Fair Value/
INDUSTRY CLASSIFICATION: (Cont.) Market Value Market Value
-------------- --------------
MACHINERY - 6.92% RETAIL STORES - 4.74%
C & M Conveyor, Inc. $ 2,467,069 Blockbuster, Inc. $ 415,625
Integration Technology Systems, Inc. 1,248,333 Insurance Auto Auctions, Inc. 1,052,500
Manitowoc Company, Inc. 204,000 Neff Motivation, Inc. 1,296,853
Maxon Corporation 3,056,498 Neiman Marcus Group, Inc. 1,328,125
Safety Speed Cut Manufacturing Company, Inc. 2,303,504 Olympic Sales, Inc. 4,183,018
Stanadyne Corporation 1,436,250 Rent-A-Center, Inc. 400,000
Supreme Industries, Inc. 859,814 Rent-Way, Inc. 1,505,564
Synventive Equity LLC 33,459 TVI, Inc. 556,042
Thermadyne Holdings Corporation 900,000 United Rentals, Inc. 1,106,250
Tronair, Inc. 2,319,088 --------------
Tubular Textile Machinery 2,461,908 11,843,977
-------------- --------------
17,289,923 TECHNOLOGY - 0.53%
-------------- Cymer, Inc. 862,750
MEDICAL DEVICES/BIOTECH - 3.13% Magnachip Semiconductor 93,500
Beacon Medical Products, Inc. 2,444,157 Sungard Data Systems 185,063
Coeur, Inc. 1,238,002 Unisys Corporation 186,675
E X C Acquisition Corporation 135,460 --------------
MicroGroup, Inc. 2,480,945 1,327,988
OakRiver Technology, Inc. 1,527,200 --------------
-------------- TELECOMMUNICATIONS - 3.42%
7,825,764 Alamosa Delaware 792,563
-------------- Cincinnati Bell, Inc. 1,117,875
MINING, STEEL, IRON & Intelsat Subsidiary Holding Company Ltd. 966,062
NON PRECIOUS METALS - 0.04% ITC^DeltaCom, Inc. 2,650,063
U S S Holdings, Inc. 108,991 NTL Holdings 200,000
-------------- Rogers Wireless, Inc. 1,282,050
OIL AND GAS - 7.16% Telex Communications, Inc. 1,008,302
C & J Spec-Rent Services, Inc. 3,135,360 Triton P C S, Inc. 522,500
Chesapeake Energy Corporation 1,099,188 --------------
Clayton Williams Energy, Inc. 752,000 8,539,415
Dynegy Holdings, Inc. 812,500 --------------
Fuel Systems Holding Corporation 2,490,939 TRANSPORTATION - 1.16%
GulfMark Offshore, Inc. 576,300 Quality Distribution LLC 321,750
Mustang Ventures Company 3,472,430 Tangent Rail Corporation 2,577,756
North American Energy Partners 390,000 --------------
Offshore Logistics, Inc. 423,000 2,899,506
Pacific Energy Partners 655,000 --------------
Pogo Producing Co. 493,750 UTILITIES - 1.92%
Quicksilver Resources, Inc. 493,750 Atlas Pipeline Partners 208,500
Transmontaigne, Inc. 3,090,543 El Paso Corporation 1,093,313
-------------- Inergy LP 153,375
17,884,760 Markwest Energy Operating Co. 448,875
-------------- Moog, Inc. 118,200
PHARMACEUTICALS - 1.05% N R G Energy, Inc. 178,719
CorePharma LLC 2,511,968 Nalco Co. 506,250
Enzymatic Therapy, Inc. 106,250 Sierra Pacific Resources 637,381
-------------- Tenaska Alabama Partners L.P. 355,844
2,618,218 Utilicorp United, Inc. 1,107,500
-------------- --------------
PUBLISHING/PRINTING - 1.41% 4,807,957
Cadmus Communications Corporation 753,750 --------------
Houghton Mifflin Co. 1,075,000 WASTE MANAGEMENT /
Newark Group, Inc. 127,400 POLLUTION - 0.78%
Primedia, Inc. 915,000 Terra Renewal Services, Inc. 1,955,397
Sheridan Acquisition Corporation 385,781 --------------
Vertis, Inc. 275,100 TOTAL CORPORATE RESTRICTED AND
-------------- PUBLIC SECURITIES - 100.73% $ 251,787,528
3,532,031 --------------
--------------
INCOME TAX INFORMATION
The aggregate cost of investments was substantially the same for financial reporting and federal income tax purposes as of March 31,
2006. The net unrealized appreciation of investments for financial reporting and federal tax purposes as of March 31, 2006 is
$3,752,794 and consists of $24,447,578 appreciation and $20,694,784 depreciation.
------------------------------------------------------------------------------------------------------------------------------------
28
ITEM 2. CONTROLS AND PROCEDURES.
(a) The principal executive officer and principal financial officer of
the Registrant evaluated the effectiveness of the Registrant's disclosure
controls and procedures (as defined in Rule 30a-3(c) under the Investment
Company Act of 1940 (the "Act")) as of a date within 90 days of the filing date
of this report and based on that evaluation have concluded that such disclosure
controls and procedures are effective to provide reasonable assurance that
material information required to be disclosed by the Registrant on Form N-Q is
recorded, processed, summarized and reported within the time periods specified
in the Securities and Exchange Commission's rules and forms.
(b) There were no changes in the Registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred
during the Registrant's last fiscal quarter that have materially affected, or
are reasonably likely to materially affect, the Registrant's internal control
over financial reporting.
ITEM 3. EXHIBITS.
Certifications pursuant to Rule 30a-2(a) under the Investment Company
Act of 1940 (17 CFR 270.30a-2(a)) are attached hereto as an exhibit.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) MassMutual Corporate Investors
------------------------------
By (Signature and Title)* /s/ Clifford M. Noreen
---------------------------------------------
Clifford M. Noreen, President
Date May 30, 2006
------------------------------------------------------------------
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the Registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /s/ Clifford M. Noreen
---------------------------------------------
Clifford M. Noreen, President
Date May 30, 2006
------------------------------------------------------------------
By (Signature and Title)* /s/ James M. Roy
---------------------------------------------
James M. Roy, Vice President and
Chief Financial Officer
Date May 30, 2006
------------------------------------------------------------------
* PRINT THE NAME AND TITLE OF EACH SIGNING OFFICER UNDER HIS OR HER SIGNATURE.