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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,
1500 Main Street, Suite 2800, Springfield, MA 01115
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(Name and address of agent for service)
Registrant's telephone number, including area code: 413-226-1000
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Date of fiscal year end: 12/31
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Date of reporting period: 09/30/04
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ITEM 1. SCHEDULE OF INVESTMENTS.
CONSOLIDATED SCHEDULE OF INVESTMENTS MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES - 82.87%: (A) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
PRIVATE PLACEMENT INVESTMENTS - 72.85%
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 $ 2,115,366
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 2,323 shs. 04/08/04 -- 23
------------ ------------
2,125,000 2,115,389
------------ ------------
A W C HOLDING COMPANY
A manufacturer and distributor of aluminum and
vinyl windows and doors in the Southwest and
Southeast regions of the U.S.
12% Senior Subordinated Note due 2012 $ 2,125,000 05/18/04 1,917,731 1,918,647
Limited Partnership Interest (B) 250 uts. 05/18/04 212,500 191,251
------------ ------------
2,130,231 2,109,898
------------ ------------
ADORN, INC.
A manufacturer of wall panels, cabinets, moldings
and countertops for houses and recreational vehicles.
12.5% Subordinated Note due 2010 $ 2,125,000 02/29/00 1,924,254 2,095,924
Warrant, exercisable until 2010, to purchase
common stock at $.02 per share (B) 364 shs. 02/29/00 307,759 137,429
------------ ------------
2,232,013 2,233,353
------------ ------------
AMERICA'S BODY COMPANY, INC./LCP HOLDING CO.
A designer and manufacturer of commercial work vehicles.
12% Preferred Stock Series C (B) $ 395 shs. 12/16/03 1,750,000 2,625,001
Warrant, exercisable until 2007, to purchase
common stock at $.01 per share (B) 58 shs. * 513,334 1
------------ ------------
2,263,334 2,625,002
------------ ------------
AMERICAN HOSPICE MANAGEMENT
A for-profit hospice care provider in the U.S.
12% Senior Subordinated Note due 2010 $ 2,125,000 01/22/04 1,899,110 2,210,000
Preferred Class A Unit (B) 2,525 uts. 01/22/04 240,789 216,710
Common Class B Unit (B) 3,042 uts. 01/22/04 -- 30
------------ ------------
2,139,899 2,426,740
------------ ------------
BEACON MEDICAL PRODUCTS, INC.
A designer, manufacturer and marketer
of medical air and gas distribution systems.
Senior Secured Floating Rate Revolving Credit
Facility due 2007 $ 115,318 04/09/02 115,318 114,686
Senior Secured Tranche A Floating Rate Note due 2008 $ 899,928 04/09/02 899,928 890,777
12% Senior Secured Note due 2010 $ 721,196 04/09/02 617,976 754,707
Limited Partnership Interest of Riverside Capital
Appreciation Fund IV, L.P. (B) 1.12% int. 04/09/02 152,329 137,096
Warrant, exercisable until 2010, to purchase
common stock at $.01 per share (B) 1,390 shs. 04/09/02 127,497 78,180
------------ ------------
1,913,048 1,975,446
------------ ------------
*11/02/98 and 12/16/03.
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7
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
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 --
------------ ------------
BETTER MINERALS & AGGREGATES
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) 126,003 shs. 12/19/96 1,166,700 --
Common Stock (B) 20,027 shs. 09/30/99 799,068 --
Warrants, exercisable until 2005 and 2010, to
purchase common stock at $.01 per share (B) 11,399 shs. * 128,502 --
------------ ------------
2,640,128 108,991
------------ ------------
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 $ 996,235 09/13/02 996,235 1,005,263
11% Senior Subordinated Note due 2010 $ 838,102 09/13/02 793,859 854,189
Common Stock (B) 316,265 shs. 09/13/02 316,265 253,012
Warrant, exercisable until 2010, to purchase
common stock at $.01 per share (B) 137,175 shs. 09/13/02 60,250 1,372
------------ ------------
2,166,609 2,113,836
------------ ------------
CAINS FOODS, L.P.
A producer of mayonnaise and sauce products for both
the retail and food service markets.
Limited Partnership Interest (B) 117 uts. 09/29/95 158,369 194,418
------------ ------------
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. ** 503 503
------------ ------------
CHEMED CORPORATION
An operator in the residential and commercial repairand-
maintenance service industry through two wholly
owned subsidiaries, Roto-Rooter and Service America.
Common Stock (B) 20,000 shs. 02/24/04 1,000,000 1,114,802
------------ ------------
**12/19/96 and 09/30/99.
**12/30/97 and 05/29/99.
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8
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
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 $ 584,384
11.5% Senior Subordinated Note due 2011 $ 424,819 04/30/03 388,513 435,478
Common Stock (B) 126,812 shs. 04/30/03 126,812 114,131
Warrant, exercisable until 2010, to purchase
common stock at $.01 per share (B) 87,672 shs. 04/30/03 40,804 877
------------ ------------
1,126,781 1,134,870
------------ ------------
COINING CORPORATION OF AMERICA LLC
A manufacturer of close tolerance parts and metal stampings.
Senior Secured Floating Rate Revolving Credit
Facility due 2006 $ 108,025 01/07/02 108,025 103,498
Senior Secured Floating Rate Tranche A Note due 2007 $ 1,020,834 06/26/01 1,020,834 935,614
13% Senior Secured Tranche B Note due 2006 $ 648,148 06/26/01 648,148 638,361
Limited Partnership Interest (B) 6.38% int. 06/26/01 324,074 259,259
Warrant, exercisable until 2008, to purchase
common stock at $.01 per share (B) 107,036 shs. 06/26/01 79,398 1,070
------------ ------------
2,180,479 1,937,802
------------ ------------
COLIBRI HOLDINGS CORPORATION
A manufacturer and distributor of wild bird feeders
and accessories.
12.5% Senior Subordinated Note due 2008 $ 1,593,750 09/22/00 1,420,761 1,512,042
28% Preferred Stock 71 shs. 11/02/01 70,833 70,294
20% Preferred Stock 66 shs. 03/09/04 66,406 64,076
Common Stock (B) 1,429 shs. 09/22/00 531,250 265,624
Warrant, exercisable until 2008, to purchase
common stock at $.01 per share (B) 843 shs. 09/22/00 265,625 8
------------ ------------
2,354,875 1,912,044
------------ ------------
CORVEST GROUP, INC.
A manufacturer and distributor of promotional products.
12% Senior Subordinated Note due 2007 $ 3,863,636 * 3,739,063 3,477,272
Common Stock (B) 56 shs. * 96,591 24,145
Limited Partnership Interest (B) 19.32% int. * 284,869 71,692
Warrant, exercisable until 2007, to purchase
common stock at $.01 per share (B) 324 shs. * 297,203 139,251
------------ ------------
4,417,726 3,712,360
------------ ------------
DELSTAR HOLDING CORPORATION
A manufacturer of plastic netting for a wide variety of industries.
Convertible Preferred Stock, convertible into common
stock at $12.16 per share (B) 3,514 shs. 10/05/01 427,153 395,243
Preferred Stock (B) 412 shs. 09/16/04 48,793 46,353
------------ ------------
475,946 441,596
------------ ------------
*03/05/99 and 03/24/99.
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9
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
DEXTER MAGNETICS TECHNOLOGIES, INC.
A designer, fabricator, assembler and distributor of industrial
magnets and subassemblies in North America and Europe.
12% Senior Subordinated Note due 2006 $ 461,956 07/19/01 $ 423,210 $ 462,571
Common Stock (B) 585 shs. 07/19/01 585,074 526,635
Warrant, exercisable until 2006, to purchase
common stock at $.01 per share (B) 297 shs. 07/19/01 250,611 3
------------ ------------
1,258,895 989,209
------------ ------------
DIRECTED ELECTRONICS, INC.
A designer and distributor of brand name automotive
security systems, audio products and installation accessories.
Class B Common Stock (B) 36,633 shs. 12/22/99 -- 560,480
Limited Partnership Interest (B) 8.70% int. 12/22/99 1 839,837
Warrant, exercisable until 2007, to purchase
common stock at $.01 per share (B) 48,569 shs. 12/22/99 -- 743,106
------------ ------------
1 2,143,423
------------ ------------
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. 8/27/98 734,090 --
Preferred Stock (B) 3,278 shs. 12/14/01 2,784,133 1,392,069
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 1,392,069
------------ ------------
DWYER GROUP, INC.
A franchiser of a variety of home repair services.
14% Senior Subordinated Note due 2011 $ 1,859,375 10/30/03 1,684,239 1,818,733
Common Stock (B) 6,906 shs. ** 690,600 621,540
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 2,034 shs. 10/30/03 186,469 20
------------ ------------
2,561,308 2,440,293
------------ ------------
E X C ACQUISITION CORPORATION
A manufacturer of pre-filled syringes and pump systems
used for intravenous drug delivery.
15% Senior Subordinated Note due 2012 $ 2,125,000 06/28/04 2,049,078 2,151,457
Warrant, exercisable until 2014, to purchase
common stock at $.01 per share (B) 22 shs. 06/28/04 77,208 --
------------ ------------
2,126,286 2,151,457
------------ ------------
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 1,023,045 1,059,255
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 4,085 shs. 09/24/04 39,464 41
------------ ------------
1,062,509 1,059,296
------------ ------------
*10/24/96 and 08/28/98.
**10/30/03 and 01/02/04.
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10
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
EAGLE WINDOW & DOOR HOLDING CO.
A manufacturer of wood and aluminum-clad
wood windows and doors.
12% Senior Subordinated Note due 2010 $ 1,900,000 05/06/02 $ 1,668,936 $ 1,957,000
Common Stock (B) 225 shs. 05/06/02 225,000 400,928
Warrant, exercisable until 2010, to purchase
common stock at $.01 per share (B) 441 shs. 05/06/02 285,000 785,244
------------ ------------
2,178,936 3,143,172
------------ ------------
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 28,971 27,300
------------ ------------
ENZYMATIC THERAPY, INC.
A manufacturer and distributor of branded natural
medicines and nutritional supplements.
13% Senior Subordinated Note due 2005 (B) $ 1,593,750 09/17/02 1,349,781 956,250
Limited Partnership Interest (B) 1.32% int. 03/30/00 531,250 5,313
Warrant, exercisable until 2009, to purchase
common stock at $.01 per share (B) 478 shs. 03/30/00 255,000 5
------------ ------------
2,136,031 961,568
------------ ------------
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 2,092,083 2,144,679
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 43,878 shs. 09/09/03 35,641 439
------------ ------------
2,127,724 2,145,118
------------ ------------
EVANS CONSOLES, INC.
A designer and manufacturer of consoles
and control center systems.
10% Senior Secured Note due 2006 $ 602,000 05/06/04 602,000 602,000
Limited Partnership Interest of CM
Equity Partners (B) 2.24% int. 02/11/98 126,648 --
Common Stock (B) 90,000 shs. 05/06/04 6 --
------------ ------------
728,654 602,000
------------ ------------
EXAMINATION MANAGEMENT SERVICES, INC.
A national full-service evidence provider to the insurance
industry and a provider of occupational health testing.
12% Senior Subordinated Note due 2007 $ 2,109,637 03/16/99 2,021,398 --
Limited Partnership Interest (B) 13.14% int. 03/02/99 2,140,363 --
Warrant, exercisable until 2007, to purchase
common stock at $.01 per share (B) 77,233 shs. 03/16/99 175,803 --
------------ ------------
4,337,564 --
------------ ------------
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11
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
G C-SUN HOLDINGS, L.P.
A value-added national distributor of maintenance,
repair and operating supplies such as fasteners, electrical
components and tools.
12% Senior Subordinated Note due 2008 (B) $ 1,725,000 03/02/00 $ 1,451,784 $ 1,293,750
Warrant, exercisable until 2008, to purchase
common stock at $.01 per share (B) 880 shs. 03/02/00 347,288 --
------------ ------------
1,799,072 1,293,750
------------ ------------
HAMILTON FUNERAL SERVICES CENTERS, INC.
A privately held owner and operator of funeral
homes in the United States.
16.5% Senior Subordinated Note due 2007 (B) $ 3,802,712 * 3,697,924 380,271
Warrant, exercisable until 2007, to purchase
common stock at $1 per share (B) 338,280 shs. * 48,447 --
------------ ------------
3,746,371 380,271
------------ ------------
HIGHGATE CAPITAL LLC
An acquirer of controlling or substantial interests in
manufacturing and marketing entities.
Series A Preferred Units (B) 1.19% int. 07/21/94 385,258 2,723
------------ ------------
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 ** 1,845,775 2,074,470
Common Stock (B) 63 shs. ** 62,742 56,466
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 200 shs. ** 199,501 2
------------ ------------
2,108,018 2,130,938
------------ ------------
HUSSEY SEATING CORPORATION
A manufacturer of spectator seating products.
Senior Secured Floating Rate Revolving Note due 2006 $ 1,343,106 06/12/96 1,343,106 1,343,106
Senior Secured Floating Rate Note due 2006 $ 433,125 *** 433,125 433,125
12% Senior Subordinated Note due 2006 $ 1,350,000 03/31/03 1,350,000 1,345,078
Common Stock (B) 4,771 shs. 03/12/04 225,000 211,007
------------ ------------
3,351,231 3,332,316
------------ ------------
INTEGRATION TECHNOLOGY SYSTEMS, INC.
A manufacturer of steel protective computer and network
systems for the industrial and office environments.
16.5% Senior Secured Note due 2006 $ 1,603,175 03/01/04 1,601,792 1,535,374
Common Stock (B) 228 shs. 06/01/00 262,200 131,100
------------ ------------
1,863,992 1,666,474
------------ ------------
*01/25/99 and 07/16/99.
**06/30/04 and 08/19/04.
***06/12/96 and 08/03/01.
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12
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
JASON, INC.
A diversified manufacturing company serving various
industrial markets.
13% Senior Subordinated Note due 2008 $ 963,687 08/04/00 $ 888,840 $ 864,167
14% Cumulative Redeemable Preferred Stock Series A (B) 289 shs. 08/04/00 289,224 265,364
Limited Partnership Interest of
Saw Mill Capital Fund II, L.P. (B) 2.50% int. 08/03/00 886,409 443,253
Warrants, exercisable until 2008 and 2009, to purchase
common stock at $.01 per share (B) 50,870 shs. 08/04/00 115,412 509
------------ ------------
2,179,885 1,573,293
------------ ------------
KEEPSAKE QUILTING, INC.
A seller of quilting fabrics, books, patterns,
kits and notions to consumers.
Senior Secured Floating Rate Revolving Note Due 2005 $ 128,425 06/16/00 128,425 128,217
Senior Secured Floating Rate Tranche A Note due 2007 $ 729,269 06/16/00 729,265 722,701
12% Senior Secured Tranche B Note due 2008 $ 550,392 06/16/00 523,187 566,904
Limited Partnership Interest of
Riverside XVI Holding Company, L.P. (B) 5.29% int. 06/12/00 333,490 300,132
Warrant, exercisable until 2008, to purchase
common stock at $.01 per share (B) 1,108 shs. 06/12/00 45,866 31,815
------------ ------------
1,760,233 1,749,769
------------ ------------
KELE AND ASSOCIATES, INC.
A distributor of building automation control products.
12% Senior Subordinated Note due 2012 $ 1,831,548 02/27/04 1,662,446 1,826,007
Preferred Stock Class A (B) 23 shs. 02/27/04 449,164 483,545
Common Stock (B) 12 shs. 02/27/04 12,871 11,581
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 11 shs. 02/27/04 7,793 --
------------ ------------
2,132,274 2,321,133
------------ ------------
KENAN-ADVANTAGE TRANSPORT COMPANY
A transporter of light petroleum, petrochemicals,
lubricants and residual fuels.
12.5% Senior Subordinated Note due 2009 $ 1,817,435 04/30/01 1,817,435 1,853,784
Preferred Stock (B) 307 shs. 04/30/01 307,000 614,000
Warrant, exercisable until 2009, to purchase
common stock at $.01 per share (B) 269 shs. 04/30/01 14 3
------------ ------------
2,124,449 2,467,787
------------ ------------
LANCASTER LABORATORIES, INC.
A laboratory testing operation in the United States.
Common Stock (B) 455,739 shs. 09/25/00 589,813 821,243
------------ ------------
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 2006 $ 3,845,000 * 3,462,973 3,868,697
Common Stock (B) 5,800 shs. * 406,003 345,100
Warrant, exercisable until 2006, to purchase
common stock at $.11 per share (B) 15,572 shs. * 602,127 926,534
------------ ------------
4,471,103 5,140,331
------------ ------------
*12/23/98 and 1/28/99.
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13
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
MAVERICK ACQUISITION COMPANY
A manufacturer of capsules that cover the cork and neck
of wine bottles.
Senior Secured Floating Rate Revolving Note due 2009 $ 13,496 09/03/04 $ 13,496 $ 13,360
Senior Secured Floating Rate Tranche A Note due 2010 $ 783,582 09/03/04 783,582 774,431
12% Senior Secured Tranche B Note due 2011 $ 313,433 09/03/04 274,173 319,482
Limited Partnership Interest (B) 58,769 uts. 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
------------ ------------
1,169,493 1,160,169
------------ ------------
MAXON CORPORATION
A manufacturer of industrial combustion equipment
and related shut-off valves and control valves.
12% Senior Subordinated Note due 2012 $ 962,215 09/30/04 871,318 951,150
8.75% Senior Subordinated Note due 2012 $ 1,281,112 09/30/04 1,281,112 1,279,703
Common Stock (B) 381,672 shs. 09/30/04 381,672 343,505
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 153,572 shs. 09/30/04 90,897 1,536
------------ ------------
2,624,999 2,575,894
------------ ------------
MEDASSIST, INC.
A provider of patient eligibility and accounts receivable
management services to hospitals and physician practices.
12% Senior Subordinated Note due 2011 $ 2,125,000 05/01/03 2,089,077 2,188,750
Warrant, exercisable until 2013, to purchase
common stock at $.01 per share (B) 83,214 shs. 05/01/03 40,675 53,174
------------ ------------
2,129,752 2,241,924
------------ ------------
MOSS, INC.
A manufacturer and distributor of large display
and exhibit structures.
Senior Secured Floating Rate Tranche A Note due 2007 $ 951,601 09/21/00 951,601 951,601
12% Senior Secured Tranche B Note due 2008 $ 336,200 09/21/00 315,787 336,200
Limited Partnership Interest of
Riverside Capital Appreciation Fund I, L.P. (B) 7.47% int. * 311,481 233,600
Warrant, exercisable until 2008, to purchase
common stock at $100 per share (B) 463 shs. 09/21/00 40,344 5
------------ ------------
1,619,213 1,521,406
------------ ------------
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. 12/11/02 493,501 938,300
------------ ------------
NEFF MOTIVATION, INC.
A manufacturer and distributor of customized
awards and sportswear to schools.
12.5% Senior Subordinated Note due 2011 $ 1,062,500 01/31/03 902,141 1,098,682
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 212 shs. 01/31/03 180,625 86,937
------------ ------------
1,082,766 1,185,619
------------ ------------
* 09/20/00 and 05/23/02.
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14
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
NONNI'S FOOD COMPANY, INC.
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 $ 1,924,540
10% Preferred Stock 255 shs. 03/29/04 255,083 260,180
Common Stock (B) 6,455 shs. 03/29/04 6,455 5,810
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 8,622 shs. 03/29/04 7,323 86
------------ ------------
2,125,000 2,190,616
------------ ------------
NPC, INC.
A manufacturer of flexible connectors and equipment used
in the installation of sewers and storm drain pipelines.
Senior Secured Floating Rate Revolving Note due 2006 $ 414,182 06/25/99 414,182 406,202
Senior Secured Floating Rate Note due 2006 $ 2,024,364 06/25/99 2,024,330 1,983,732
12% Senior Secured Tranche B Note due 2007 $ 978,814 06/25/99 910,239 978,808
Limited Partnership Interest of Riverside XIII
Holding Company L.P. (B) 3.38% int. 06/11/99 296,883 221,438
Warrant, exercisable until 2007, to purchase
common stock at $.01 per share (B) 201 shs. 06/25/99 142,373 2
------------ ------------
3,788,007 3,590,182
------------ ------------
NYLONCRAFT, INC.
A supplier of engineered plastic components
for the automotive industry.
9% Senior Secured Note due 2009 $ 812,500 01/28/02 812,500 883,326
11.5% Senior Subordinated Note due 2012 $ 1,500,000 01/28/02 1,365,316 1,634,038
Common Stock (B) 312,500 shs. 01/28/02 312,500 326,250
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 243,223 shs. 01/28/02 162,045 251,736
------------ ------------
2,652,361 3,095,350
------------ ------------
OLYMPIC SALES, INC.
A boat retailer in Washington state, Oregon, California
and British Columbia.
12% Senior Subordinated Note due 2006 $ 2,774,000 08/07/98 2,676,397 2,497,563
12% Senior Subordinated Note due 2008 $ 307,071 02/09/00 287,071 258,829
Limited Partnership Interest of Riverside VIII,
VIII-A and VIII-B Holding Company, L.P. (B) 1,531,250 shs. * 1,555,768 798,930
Warrants, exercisable until 2007and 2008, to purchase
common stock at $.01 per share (B) 28,648 shs. ** 389,188 287
------------ ------------
4,908,424 3,555,609
------------ ------------
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 1,948,414 2,167,500
Membership Interests of MM/Lincap
PPI Investments, Inc., LLC (B) 2.42% int. 12/21/00 265,625 265,625
------------ ------------
2,214,039 2,433,125
------------ ------------
*08/07/98, 02/23/99, 12/22/99 and 02/25/03.
**08/07/98 and 02/09/00.
--------------------------------------------------------------------------------
15
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
P H I HOLDING COMPANY
A retailer of mid-priced gift items, home and garden decor,
accessories and other similar consumer products.
12.5% Senior Subordinated Note due 2010 $ 2,125,000 10/25/02 $ 1,860,111 $ 2,210,000
Warrant, exercisable until 2010, to purchase
common stock at $.02 per share (B) 351 shs. 10/25/02 296,747 320,449
------------ ------------
2,156,858 2,530,449
------------ ------------
POLYMER TECHNOLOGIES, INC./POLI-TWINE WESTERN, INC.
A manufacturer of polypropylene twine for the hay
bailing marketplace.
8% Senior Subordinated Note due 2010 (B) $ 499,977 09/27/02 499,948 --
------------ ------------
PRECISION DYNAMICS, INC.
A manufacturer of custom-designed solenoid
valves and controls.
Senior Secured Floating Rate Revolving Credit
Facility due 2004 $ 733,500 07/22/96 733,500 733,500
Senior Secured Floating Rate Term Note
due 2004 $ 700,900 07/22/96 700,900 700,900
12% Senior Secured Term Note due 2004 $ 326,000 07/22/96 322,585 326,000
8% Preferred Stock (B) 374 shs. 07/22/96 231,964 231,964
Common Stock (B) 599 shs. 07/22/96 28,978 28,978
Warrant, exercisable until 2004, to purchase
common stock at $.01 per share (B) 322 shs. 07/22/96 97,800 3
------------ ------------
2,115,727 2,021,345
------------ ------------
PROCESS CHEMICALS LLC
A specialty chemical company that manufactures
processed chemicals for the fertilizer, asphalt and
concrete industries.
Common Membership Interests 9,863 uts. * 4 --
------------ ------------
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 --
------------ ------------
PW EAGLE, INC. - O.T.C.
An extruder of small and medium diameter plastic pipe
and tubing in the United States.
18% Senior Subordinated Note due 2007 $ 3,639,961 09/16/99 3,616,448 1,273,986
Warrant, exercisable until 2007, to purchase
common stock at $.01 per share (B) 197,040 shs. 09/16/99 1 179,750
------------ ------------
3,616,449 1,453,736
------------ ------------
*07/31/97 and 01/04/99.
**11/14/01 and 08/12/94.
--------------------------------------------------------------------------------
16
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
QUALIS AUTOMOTIVE LLC
A distributor of aftermarket automotive brake
and chassis products.
12% Senior Subordinated Note due 2012 $ 1,770,834 05/28/04 $ 1,403,299 $ 1,800,700
Common Stock (B) 354,166 shs. 05/28/04 354,166 318,749
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 377,719 shs. 05/28/04 377,719 3,777
------------ ------------
2,135,184 2,123,226
------------ ------------
QUALSERV CORPORATION
A provider of foodservice equipment and supplies,
to major restaurant chains and their franchisees.
14% Senior Subordinated Note due 2012 $ 1,865,854 07/09/04 1,817,555 1,904,296
Limited Partnership Interest (B) 259,146 uts. 07/09/04 259,146 233,231
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 528 shs. 07/09/04 49,061 5
------------ ------------
2,125,462 2,137,532
------------ ------------
RIVER RANCH FRESH FOODS LLC
A supplier of fresh produce to the retail and
foodservice channels.
13% Senior Subordinated Note due 2011 $ 1,841,667 09/29/04 1,683,824 1,858,867
Limited Partnership Interest (B) 283,333 uts. 09/29/04 283,333 255,000
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 23,715 shs. 09/29/04 157,903 236
------------ ------------
2,125,060 2,114,103
------------ ------------
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 11/14/03 947,003 1,063,028
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 140 shs. 11/14/03 122,946 1
------------ ------------
1,069,949 1,063,029
------------ ------------
SAFETY SPEED CUT MANUFACTURING COMPANY, INC.
A manufacturer of vertical panel saws and routers
for the wood working industry.
Senior Secured Floating Rate Revolving Note due 2006 $ 282,663 05/01/03 282,663 287,475
Senior Secured Floating Rate Tranche A Note due 2007 $ 1,389,760 06/02/99 1,389,760 1,389,760
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. 06/02/99 256,212 463,418
------------ ------------
3,059,287 3,271,305
------------ ------------
SAVAGE SPORTS HOLDINGS, INC.
A manufacturer of sporting firearms.
12% Senior Subordinated Note due 2012 $ 1,583,793 09/10/04 1,425,556 1,555,240
Common Stock (B) 586 shs. 09/10/04 586,207 527,589
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 134 shs. 09/10/04 113,578 1
------------ ------------
2,125,341 2,082,830
------------ ------------
--------------------------------------------------------------------------------
17
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
SELIG ACQUISITION CORPORATION
A manufacturer of container sealing materials
for bottles used in consumer products.
12% Senior Subordinated Note due 2009 $ 2,125,000 06/13/02 $ 1,984,397 $ 2,163,250
Warrant, exercisable until 2009, to purchase
common stock at $.01 per share (B) 2,011 shs. 06/13/02 182,023 422,247
------------ ------------
2,166,420 2,585,497
------------ ------------
SHELTER ACQUISITION, INC.
A distributor of roofing supplies and products
throughout the Midwest.
12.5% Senior Subordinated Note due 2008 $ 1,517,857 08/01/02 1,357,694 1,548,214
Common Stock (B) 758,929 shs. * 758,929 683,036
Warrant, exercisable until 2009, to purchase
common stock at $.01 per share (B) 263,444 shs. 08/01/02 216,446 2,634
------------ ------------
2,333,069 2,233,884
------------ ------------
SNYDER INDUSTRIES, INC.
A manufacturer of proprietary rotationally molded
polyethylene containers.
12.25% Senior Subordinated Note due 2007 $ 3,125,000 12/06/99 2,895,267 3,156,250
Warrant, exercisable until 2007, to purchase
common stock at $.01 per share (B) 513 shs. 12/06/99 426,136 77,187
------------ ------------
3,321,403 3,233,437
------------ ------------
SPECIALTY FOODS GROUP, INC.
A manufacturer and distributor of branded meat products.
Limited Partnership Interest of MHD Holdings LLC (B) 1.43% int. 08/29/00 525,155 93,180
------------ ------------
SPORT COURT INTERNATIONAL, INC.
A designer and manufacturer of synthetic indoor and outdoor
sports flooring and other temporary flooring products.
Senior Secured Floating Rate Revolving Note due 2009 $ 185,750 08/12/04 185,750 183,959
Senior Secured Floating Rate Note due 2009 $ 527,171 08/12/04 527,171 521,944
12% Senior Secured Note due 2012 $ 254,282 08/12/04 236,88 256,479
Limited Partnership Interest (B) 65,830 uts. 08/12/04 65,830 59,247
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 33 shs. 08/12/04 17,598 --
------------ ------------
1,033,233 1,021,629
------------ ------------
STRATEGIC EQUIPMENT & SUPPLY CORPORATION, INC.
A provider of kitchen and restaurant design, equipment
fabrication and installation services.
12% Senior Subordinated Note due 2008 $ 3,875,000 01/14/00 3,506,418 3,913,750
Warrant, exercisable until 2008, to purchase
common stock at $.01 per share (B) 106,539 shs. 01/14/00 658,751 --
------------ ------------
4,165,169 3,913,750
------------ ------------
* 08/01/02 and 01/17/03
--------------------------------------------------------------------------------
18
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
SYNVENTIVE EQUITY LLC
A manufacturer of hot runner systems used in
the plastic injection molding process.
12% Senior Subordinated Note due 2007 $ 1,841,667 08/21/03 $ 1,773,893 $ 1,878,500
Limited Partnership Interest (B) 0.61% int. 08/20/03 283,333 283,333
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 86,780 shs. 08/21/03 85,000 868
------------ ------------
2,142,226 2,162,701
------------ ------------
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 2,483,428 2,712,000
Common Stock (B) 630 shs. 02/04/98 630,000 534,477
Warrant, exercisable until 2006, to purchase
common stock at $.01 per share (B) 444 shs. 02/05/98 368,832 376,675
------------ ------------
3,482,260 3,623,152
------------ ------------
TIDEWATER HOLDINGS, INC.
An operator of a barge transportation line on the
Columbia/Snake River system.
17% Preferred Stock (B) 560 shs. 12/23/02 560,000 532,000
Convertible Preferred Stock, convertible into
common stock at $1,000 per share (B) 1,120 shs. 07/25/96 1,120,000 1,008,000
Warrant, exercisable until 2008, to purchase
common stock at $.01 per share (B) 474 shs. 07/25/96 48,216 426,384
------------ ------------
1,728,216 1,966,384
------------ ------------
TINNERMAN-PALNUT ENGINEERED COMPONENTS
A manufacturer of precision engineered metal
and plastic fasteners and assembly components.
12.75% Senior Subordinated Note due 2008 $ 1,125,000 12/06/01 863,812 1,136,250
Class B Unit (B) 100,000 uts. 12/06/01 73,529 66,177
Class C Unit (B) 174,125 uts. 12/06/01 128,033 115,231
------------ ------------
1,065,374 1,317,658
------------ ------------
TOMAH HOLDINGS, INC.
A manufacturer of specialty chemicals.
16% Senior Subordinated Note due 2011 $ 1,416,667 12/08/03 1,365,371 1,448,523
16% Preferred Stock Series A (B) 37 shs. 12/08/03 631,630 644,355
Common Stock (B) 5,269 shs. 12/08/03 131,471 118,323
------------ ------------
2,128,472 2,211,201
------------ ------------
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 $ 1,579,293 01/20/00 1,579,293 1,564,492
12% Senior Subordinated Note due 2010 $ 1,326,500 01/20/00 1,261,379 1,311,814
Common Stock (B) 227,400 shs. 01/20/00 227,400 181,920
Warrant, exercisable until 2010, to purchase
common stock at $1 per share (B) 260,563 shs. 01/20/00 98,540 2,606
------------ ------------
3,166,612 3,060,832
------------ ------------
--------------------------------------------------------------------------------
19
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
TRUSTILE DOORS, INC.
A manufacturer and distributor of interior doors.
12.5% Senior Subordinated Note due 2010 $ 1,062,500 04/11/03 $ 979,923 $ 1,075,244
Warrant, exercisable until 2010, to purchase
common stock at $.01 per share (B) 5,781 shs. 04/11/03 95,625 58
------------ ------------
1,075,548 1,075,302
------------ ------------
TUBULAR TEXTILE MACHINERY
A designer, manufacturer, sale 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 1,106,556 1,258,232
8.75% Senior Secured Note due 2011 $ 716,292 05/28/04 716,292 733,910
Common Stock (B) 674,157 shs. 05/28/04 674,157 606,741
Warrant, exercisable until 2012, to purchase
common stock at $1 per share (B) 203,912 shs. 05/28/04 130,788 2,039
------------ ------------
2,627,793 2,600,922
------------ ------------
TVI, INC.
A retailer of used clothing in the United States,
Canada and Australia.
Common Stock (B) 354,167 shs. 05/02/00 267,786 414,375
------------ ------------
U S M HOLDINGS CORP.
A provider of facility maintenance services to retail and
corporate clients with multiple locations.
12% Senior Subordinated Note due 2011 $ 1,789,474 08/06/03 1,515,421 1,827,074
Preferred Stock (B) 3,345 shs. 08/06/03 334,494 301,045
Common Stock (B) 1,032 shs. 08/06/03 1,032 929
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 949 shs. 08/06/03 298,198 9
------------ ------------
2,149,145 2,129,057
------------ ------------
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 1,675,711 1,907,576
10% Jr Subordinated Note due 2012 $ 60,700 04/30/04 60,700 60,734
Common Stock (B) 182 shs. 04/30/04 182,200 163,980
Warrant, exercisable until 2012, to purchase
common stock at $1 per share (B) 230 shs. 04/30/04 211,736 2
------------ ------------
2,130,347 2,132,292
------------ ------------
VICTORY VENTURES LLC
An acquirer of controlling or substantial interests
in other entities.
Series A Preferred Units (B) 0.13% int. 12/02/96 1 2
------------ ------------
--------------------------------------------------------------------------------
20
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONT.) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares, Units,
Warrants,
Ownership or Acquisition
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Principal Amount Date Cost Fair Value
------------ ------------ ------------ ------------
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 $ 1,700,628 $ 1,903,980
Common Stock (B) 23,771 shs. 09/24/04 237,710 213,939
Warrant, exercisable until 2012, to purchase
common stock at $.01 per share (B) 23,787 shs. 09/24/04 186,883 238
------------ ------------
2,125,221 2,118,157
------------ ------------
VITEX PACKAGING GROUP, INC.
A manufacturer of specialty packaging, primarily envelopes
and tags used on tea bags and medical and food products.
12.5% Senior Subordinated Note due 2012 $ 1,700,000 07/19/04 1,483,065 1,701,690
Limited Partnership Interest Class A (B) 414,375 uts. 07/19/04 414,375 372,938
Limited Partnership Interest Class B (B) 182,935 uts. 07/19/04 182,935 164,642
------------ ------------
2,080,375 2,239,270
------------ ------------
WALLS INDUSTRIES, INC.
A provider of branded workwear and sporting goods apparel.
10% Senior Subordinated Lien Note due 2009 $ 1,043,860 07/12/04 1,043,860 1,028,686
14% Senior Subordinated Note due 2012 $ 1,043,859 07/12/04 1,041,026 1,027,765
Limited Partnership Interest (B) 37,281 uts. 07/12/04 37,281 33,553
Warrant, exercisable until 2014, to purchase
common stock at $.01 per share (B) 4,029 shs. 07/12/04 2,833 40
------------ ------------
2,125,000 2,090,044
------------ ------------
WASHINGTON INVENTORY SERVICES, INC.
A provider of physical inventory taking and other
related services to retailers.
12.5% Senior Subordinated Note due 2011 $ 1,075,768 11/03/00 1,055,128 1,097,283
Senior Preferred Stock (B) 4,692 shs. 11/01/00 224,031 218,567
Class B Common Stock (B) 8,959 shs. 11/01/00 8,959 82,486
Warrant, exercisable until 2011, to purchase
common stock at $.01 per share (B) 3,979 shs. 11/03/00 -- 36,599
------------ ------------
1,288,118 1,434,935
------------ ------------
WEASLER HOLDINGS LLC
A manufacturer of mechanical power transmission
components for the agricultural, lawn and turf industries.
Limited Partnership Interest (B) 1.55% int. 02/03/03 101,190 97,142
Warrant, exercisable until 2010, to purchase
common stock at $.01 per share (B) 256 shs. 02/04/03 209,829 3
------------ ------------
311,019 97,145
------------ ------------
WICOR AMERICAS, INC.
A manufacturer of cellulose based insulation products,
systems and services for electrical transformer
equipment manufacturers.
20% Senior Subordinated Secured Note due 2009 $ 2,520,040 11/09/01 2,510,467 2,385,303
------------ ------------
TOTAL PRIVATE PLACEMENT INVESTMENTS $170,630,816 $155,523,703
------------ ------------
--------------------------------------------------------------------------------
21
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares or
Interest Due Principal
CORPORATE RESTRICTED SECURITIES (A) (CONTINUED) Rate Date Amount Cost Fair Value
---- ---- ------ ---- ----------
RULE 144A SECURITIES - 10.02%: (A)
BONDS - 9.63%
A E S Corporation 8.750% 05/15/13 $ 1,025,000 $ 1,131,599 $ 1,155,687
A E S Corporation 9.000 05/15/15 200,000 200,000 225,500
Appleton Papers Inc. 8.125 06/15/11 300,000 300,000 309,000
Argo Tech Corporation 9.250 06/01/11 850,000 850,000 911,625
BCP Caylux Holding Lux SCA 9.625 06/15/14 750,000 752,455 810,000
Blockbuster, Inc. 9.000 09/01/12 350,000 350,000 363,125
Bombardier Capital, Inc. 6.300 05/01/14 1,000,000 890,000 863,638
Cablevision Systems Corporation 5.670 04/01/09 1,000,000 1,000,000 1,040,000
Cadmus Communications Corporation 8.375 06/15/14 750,000 750,000 808,125
Calpine Corporation 8.750 07/15/13 500,000 465,000 377,500
Charter Communications Op LLC 8.000 04/30/12 250,000 249,375 249,375
Chesapeake Energy Corporation 7.000 08/15/14 325,000 325,000 343,688
Collins & Aikman Products Co. 12.875 08/24/12 300,000 289,323 276,750
Dana Credit Corporation 8.375 08/15/07 500,000 500,000 551,250
GulfMark Offshore, Inc. 7.750 07/15/14 565,000 562,599 572,063
Imax Corporation 9.625 12/01/10 500,000 500,000 498,750
Interactive Health LLC 7.250 04/01/11 900,000 732,628 774,000
Jostens I H Corporation 7.625 10/01/12 1,250,000 1,250,000 1,256,250
K 2, Inc. 7.375 07/01/14 325,000 325,000 344,500
Land O'Lakes, Inc. 9.000 12/15/10 750,000 750,000 780,937
M G M Mirage, Inc. 6.000 10/01/09 375,000 380,593 380,156
Metaldyne Corporation 10.000 11/01/13 510,000 514,063 474,300
N R G Energy, Inc. 8.000 12/15/13 700,000 700,000 749,875
North American Energy Partners 8.750 12/01/11 400,000 400,000 390,000
O E D Corp/Diamond Jo Company Guarantee 8.750 04/15/12 1,000,000 985,960 925,000
Pacific Energy Partners 7.125 06/15/14 500,000 491,270 541,250
Pinnacle Foods Holding 8.250 12/01/13 450,000 450,000 424,125
Sheridan Acquisition Corporation 10.250 08/15/11 375,000 370,001 405,938
Siebe PLC 6.500 01/15/10 650,000 572,000 588,250
Stanadyne Corporation 10.000 08/15/14 1,500,000 1,500,000 1,560,000
Tenet Healthcare Corporation 9.875 07/01/14 500,000 488,370 522,500
Warner Music Group 7.375 04/15/14 275,000 275,000 284,625
Wornick Co. 10.875 07/15/11 750,000 750,000 802,500
------------ ------------ ------------
TOTAL BONDS $ 20,375,000 20,050,236 20,560,282
============ ------------ ------------
COMMON STOCK - 0.00%
Jordan Telecom Products (B) 70 $ 14,000 --
------------ ------------
TOTAL COMMON STOCK 14,000 --
------------ ------------
CONVERTIBLE BONDS - 0.39%
Cymer, Inc. 3.500% 02/15/09 $ 850,000 $ 850,000 $ 840,438
------------ ------------ ------------
TOTAL CONVERTIBLE BONDS $ 850,000 850,000 840,438
============ ------------ ------------
CONVERTIBLE PREFERRED STOCK - 0.00%
D T Industries, Inc. (B) 20,000 $ 1,000,000 --
------------ ------------
TOTAL CONVERTIBLE PREFERRED 1,000,000 --
------------ ------------
WARRANTS - 0.00%
Winsloew Furniture, Inc. (B) 900 $ 9 $ 14
------------ ------------
TOTAL WARRANTS 9 14
------------ ------------
TOTAL RULE 144A SECURITIES 21,914,245 21,400,734
------------ ------------
TOTAL CORPORATE RESTRICTED SECURITIES $192,545,061 $176,924,437
------------ ------------
--------------------------------------------------------------------------------
22
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Interest Due Principal
CORPORATE PUBLIC SECURITIES - 23.15%: (A) Rate Date Amount Cost Market Value
---- ---- ------ ---- ------------
BONDS - 20.28%
A E P Industries, Inc. 9.875% 11/15/07 $ 350,000 $ 333,375 $ 356,563
Activant Solutions Inc 10.500 06/15/11 700,000 703,738 721,000
Aearo Co. 8.250 04/15/12 450,000 450,000 459,000
Alamosa Delaware, Inc. 11.000 07/31/10 325,000 330,477 368,062
Alamosa Delaware, Inc. 8.500 01/31/12 400,000 400,000 405,000
Allied Waste NA 7.375 04/15/14 1,000,000 975,000 962,500
American Media Operation, Inc. 8.875 01/15/11 900,000 901,718 933,750
Bally Total Fitness Holding Corporation 9.875 10/15/07 135,000 128,925 109,350
C S C Holdings, Inc. 7.625 04/01/11 500,000 502,244 526,875
Cenveo Corporation 7.875 12/01/13 1,100,000 1,100,000 1,072,500
Charter Comm Holdings LLC 10.000 04/01/09 1,000,000 815,000 810,000
Chemed Corporation 8.750 02/24/11 1,125,000 1,125,000 1,158,750
Cincinnati Bell, Inc. 8.375 01/15/14 1,100,000 1,007,500 1,003,750
Collins & Aikman Products Co. 10.750 12/31/11 700,000 722,077 700,000
Dana Corporation 9.000 08/15/11 500,000 526,977 603,750
Del Monte Corporation 8.625 12/15/12 225,000 225,000 250,312
Dollar Financial Group 9.750 11/15/11 600,000 600,000 636,000
Dominos, Inc. 8.250 07/01/11 292,000 289,892 316,090
Dynegy Holdings, Inc. 6.875 04/01/11 500,000 422,500 476,250
Esterline Technologies 7.750 06/15/13 200,000 200,000 214,000
Flextronics Intl Ltd 6.500 05/15/13 400,000 400,000 409,000
G F S I, Inc. 9.625 03/01/07 750,000 673,418 725,625
Gencorp, Inc. 9.500 08/15/13 400,000 400,000 428,000
General Nutrition Center 8.500 12/01/10 800,000 820,534 818,000
Goodyear Tire & Rubber Co. 7.857 08/15/11 650,000 607,750 612,625
Great Lakes Dredge & Dock Corporation 7.750 12/15/13 750,000 679,250 648,750
Houghton Mifflin Co. 9.875 02/01/13 1,000,000 1,056,671 1,050,000
Huntsman LLC 11.625 10/15/10 500,000 494,075 578,750
Intrawest Corporation 7.500 10/15/13 500,000 500,000 518,125
Koppers Inc. 9.875 10/15/13 700,000 700,000 773,500
Leucadia National Corporation 7.000 08/15/13 650,000 663,801 646,750
Lodgenet Entertainment Corp. 9.500 06/15/13 425,000 425,000 463,250
Lyondell Chemical Co. 9.500 12/15/08 900,000 923,539 982,125
M C I, Inc. 7.735 05/01/14 1,000,000 905,000 947,500
M S X International, Inc. 11.000 10/15/07 350,000 347,004 346,500
Majestic Star Casino LLC 9.500 10/15/10 500,000 500,000 510,000
Manitowoc Company, Inc. 7.125 11/01/13 200,000 200,000 211,500
Mediacom LLC/Mediacom Capital 9.500 01/15/13 1,150,000 1,136,000 1,106,875
Metaldyne Corporation 11.000 06/15/12 750,000 601,250 596,250
Mrs Fields Brands/Finance 11.500 03/15/11 750,000 713,710 731,250
Nalco Company 7.750 11/15/11 500,000 500,000 530,000
National Wine & Spirits, Inc. 10.125 01/15/09 500,000 485,250 480,000
Neff Corporation 10.250 06/01/08 170,000 168,062 144,500
Nextel Communications Corporation 7.375 08/01/15 700,000 714,238 752,500
Numatics, Inc. 9.625 04/01/08 550,000 539,705 495,000
O M Group, Inc. 9.250 12/15/11 750,000 777,882 781,875
Offshore Logistics, Inc. 6.125 06/15/13 450,000 450,000 456,750
Pliant Corporation 0.000 06/15/09 875,000 743,979 748,125
Pliant Corporation 13.000 06/01/10 1,000,000 936,875 860,000
Quintiles Transnational Corporation 10.000 10/01/13 500,000 500,000 530,000
Rayovac Corporation 8.500 10/01/13 200,000 200,000 217,000
Rent-A-Center, Inc. 7.500 05/01/10 400,000 400,000 414,000
Rent-Way, Inc. 11.875 06/15/10 800,000 848,346 872,000
Rhodia SA 10.250 06/01/10 800,000 830,161 828,000
Rhodia SA 8.875 06/01/11 500,000 499,668 435,000
S P X Corporation 6.250 06/15/11 400,000 400,000 390,000
Sea Containers Ltd. 10.500 05/15/12 785,000 765,065 801,681
Service Corp International 6.000 12/15/05 41,000 41,232 42,128
--------------------------------------------------------------------------------
23
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Shares or
Interest Due Principal
CORPORATE PUBLIC SECURITIES: (A)(CONTINUED) Rate Date Amount Cost Market Value
---- ---- ------ ---- ------------
Ship Finance Intl Ltd 8.500% 12/15/13 $ 750,000 $ 750,000 $ 746,250
Sports Club Co. 11.375 03/15/06 150,000 145,500 142,500
Tekni-Plex, Inc. 12.750 06/15/10 1,000,000 960,125 835,000
Telex Communications, Inc. 11.500 10/15/08 500,000 500,000 540,000
Telex Communications, Inc. 0.000 01/15/09 471,915 206,820 259,553
Tenet Healthcare Corporation 6.375 12/01/11 500,000 482,500 448,750
Tenneco Automotive, Inc. 10.250 07/15/13 400,000 400,000 456,000
Thermadyne LLC 9.250 02/01/14 750,000 738,750 729,375
Triton P C S, Inc. 8.500 06/01/13 550,000 550,000 499,125
United Rentals, Inc. 7.750 11/15/13 625,000 625,000 585,938
United Rentals, Inc. 7.000 02/15/14 500,000 500,000 443,750
Vicorp Restaurants Inc 10.500 04/15/11 600,000 592,746 597,000
Von Hoffman Press, Inc. 10.250 03/15/09 200,000 209,797 222,000
Vought Aircraft Industries 8.000 07/15/11 1,000,000 1,001,168 960,000
Williams Scotsman, Inc. 9.875 06/01/07 500,000 492,500 478,750
Winsloew Furniture, Inc. 12.750 08/15/07 455,000 444,622 375,375
------------ ------------ ------------
TOTAL BONDS $ 44,099,915 42,906,416 43,285,802
============ ------------ ------------
COMMON STOCK - 2.37%
D T Industries, Inc. (B) 178,876 $ 1,168,093 $ 537
E O S International, Inc. (B) 100,000 300,000 12,000
H C I Direct, Inc. (B) 1,000 -- --
PepsiAmericas, Inc. 92,145 2,006,365 1,759,969
Rent-Way, Inc. (B) 92,866 916,263 636,132
Supreme Industries, Inc. 115,722 267,325 698,961
T G C Industries, Inc. (B) 6,361 9,496 14,630
Transmontaigne, Inc. (B) 333,326 1,109,177 1,939,957
------------ ------------
TOTAL COMMON STOCK 5,776,719 5,062,186
------------ ------------
CONVERTIBLE BONDS - 0.50%
Leucadia National Corporation 3.750% 04/15/14 $ 1,000,000 $ 1,000,000 $ 1,075,000
------------ ------------ ------------
TOTAL CONVERTIBLE BONDS $ 1,000,000 1,000,000 1,075,000
============ ------------ ------------
PREFERRED STOCK - 0.00%
Telex Communications, Inc. 17,707 $ 1 $ 177
------------ ------------
TOTAL PREFERRED STOCK 1 177
------------ ------------
WARRANTS - 0.00%
Telex Communications, Inc. 698 $ 7 $ 7
------------ ------------
TOTAL WARRANTS 7 7
------------ ------------
TOTAL CORPORATE PUBLIC SECURITIES $ 49,683,143 $ 49,423,172
------------ ------------
Interest Due Principal
SHORT-TERM SECURITIES: Rate/Yield Date Amount Cost Market Value
---------- ---- ------ ---- ------------
COMMERCIAL PAPER - 2.25%
Textron Financial Corporation 1.800% 10/06/04 $ 3,205,000 $ 3,204,199 $ 3,204,199
Wisconsin Electric Power Co. 1.760 10/04/04 1,590,000 1,589,767 1,589,767
------------ ------------ ------------
TOTAL SHORT-TERM SECURITIES $ 4,795,000 $ 4,793,966 $ 4,793,966
============ ------------ ------------
TOTAL INVESTMENTS 108.27% $247,022,170 $231,141,575
============ ------------
Other Assets 5.32 11,361,470
Liabilities (13.59) (29,021,062)
-------- ------------
TOTAL NET ASSETS 100.00% $213,481,986
======== ============
(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.
--------------------------------------------------------------------------------
24
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Fair Value/ Fair Value/
INDUSTRY CLASSIFICATION: Market Value INDUSTRY CLASSIFICATION:(CONT.) Market Value
-------------- --------------
AEROSPACE - 1.97% BUILDINGS & REAL ESTATE - 5.06%
Argo Tech Corporation $ 911,625 A W C Holding Company $ 2,109,898
Esterline Technologies 214,000 Adorn, Inc. 2,233,353
Qualis Automotive LLC 2,123,226 Eagle Window & Door Holding Co. 3,143,172
Vought Aircraft Industries 960,000 Shelter Acquisition, Inc. 2,233,884
-------------- TruStile Doors, Inc. 1,075,302
4,208,851 --------------
-------------- 10,795,609
--------------
AUTOMOBILE - 7.77% CARGO TRANSPORT - 2.43%
America's Body Company, Inc./LCP Kenan-Advantage Transport Company 2,467,787
Holding Co. 2,625,002 Ship Finance International Ltd. 746,250
Collins & Aikman Products Co. 976,750 Tidewater Holdings, Inc. 1,966,384
Dana Corporation 603,750 --------------
Gencorp, Inc. 428,000 5,180,421
Goodyear Tire & Rubber Co. 612,625 --------------
Jason, Inc. 1,573,293 CHEMICAL, PLASTICS & RUBBER - 3.09%
LIH Investors, L.P. 5,140,331 Capital Specialty Plastics, Inc. 503
Metaldyne Corporation 1,070,550 Huntsman LLC 578,750
Nyloncraft, Inc. 3,095,350 Koppers Inc. 773,500
Tenneco Automotive, Inc. 456,000 Lyondell Chemical Co. 982,125
-------------- O M Group, Inc. 781,875
16,581,651 Process Chemicals LLC --
-------------- Rhodia SA 1,263,000
BEVERAGE, DRUG & FOOD - 6.18% Tomah Holdings, Inc. 2,211,201
Beta Brands Ltd -- --------------
Cains Foods, L.P. 194,418 6,590,954
Del Monte Corporation 250,312 --------------
Dominos, Inc. 316,090 CONSUMER PRODUCTS - 8.07%
Eagle Pack Pet Foods, Inc. 1,059,296 Appleton Papers, Inc. 309,000
Land O' Lakes, Inc. 780,937 Colibri Holdings Corporation 1,912,044
National Wine & Spirit Inc. 480,000 Euro-Pro Corporation 2,145,118
Nonni's Food Company, Inc. 2,190,616 G F S I, Inc. 725,625
PepsiAmericas, Inc. 1,759,969 H C I Direct, Inc. --
Pinnacle Foods Holdings 424,125 K 2, Inc. 344,500
River Ranch Fresh Foods LLC 2,114,103 Maverick Acquisition Company 1,160,169
Specialty Foods Group, Inc. 93,180 Neff Motivation, Inc. 1,185,619
Vicorp Restaurants, Inc. 597,000 Rayovac Corporation 217,000
Vitality Foodservice, Inc. 2,118,157 Royal Baths Manufacturing Company 1,063,029
Wornick Co. 802,500 Savage Sports Holdings, Inc. 2,082,830
-------------- The Tranzonic Companies 3,623,152
13,180,703 Walls Industries, Inc. 2,090,044
-------------- Winsloew Furniture, Inc. 375,389
BROADCASTING --------------
& ENTERTAINMENT - 2.47% 17,233,519
C S C Holdings, Inc. 526,875 --------------
Cablevision Systems Corporation 1,040,000 CONTAINERS, PACKAGING & GLASS - 6.60%
Cenveo Corporation 1,072,500 A E P Industries, Inc. 356,563
Charter Communications Holdings LLC 810,000 Paradigm Packaging, Inc. 2,433,125
Charter Communications Op LLC 249,375 Pliant Corporation 1,608,125
Lodgenet Entertainment Corporation 463,250 Sea Containers Ltd. 801,681
Mediacom Communications Corporation 1,106,875 Selig Acquisition Corporation 2,585,497
-------------- Snyder Industries, Inc. 3,233,437
5,268,875 Tekni-Plex, Inc. 835,000
-------------- Vitex Packaging, Inc. 2,239,270
--------------
14,092,698
--------------
--------------------------------------------------------------------------------
25
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Fair Value/ Fair Value/
INDUSTRY CLASSIFICATION: (CONT.) Market Value INDUSTRY CLASSIFICATION:(CONT.) Market Value
-------------- --------------
DISTRIBUTION - 6.27% FARMING & AGRICULTURE - 0.00%
Corvest Group, Inc. $ 3,712,360 Polymer Technologies, Inc./Poli-Twine
G C-Sun Holdings LP 1,293,750 Western, Inc. --
Kele and Associates, Inc. 2,321,133 Protein Genetics, Inc. --
QualServ Corporation 2,137,532 --------------
Strategic Equip & Supply Corporation, Inc. 3,913,750
-------------- FINANCIAL SERVICES - 2.33%
13,378,525 BCP Caylux Holding Lux SCA $ 810,000
-------------- Dana Credit Corporation 551,250
DIVERSIFIED/CONGLOMERATE, Dollar Financial Group 636,000
MANUFACTURING - 4.21% East River Ventures I, L.P. 27,300
Activant Solutions Inc 721,000 Highgate Capital LLC 2,723
Coining of America LLC 1,937,802 Leucadia National Corporation 1,721,750
Dexter Magnetics Technologies, Inc. 989,209 Mrs. Fields Brands / Finance 731,250
Evans Consoles, Inc. 602,000 Victory Ventures LLC 2
Great Lakes Dredge & Dock Corporation 648,750 Williams Scotsman, Inc. 478,750
S P X Corporation 390,000 --------------
Tinnerman-Palnut Engineered Components 1,317,658
Wicor Americas, Inc. 2,385,303 4,959,025
-------------- --------------
8,991,722
-------------- HEALTHCARE, EDUCATION
DIVERSIFIED/CONGLOMERATE, & CHILDCARE - 4.25%
SERVICE - 6.85% A T I Acquisition Company 2,115,389
Allied Waste NA 962,500 American Hospice Management 2,426,740
Bombardier Capital, Inc. 863,638 Interactive Health LLC 774,000
CapeSuccess LLC 5,862 MedAssist, Inc. 2,241,924
Chemed Corporation 2,273,552 Quintiles Transnational Corporation 530,000
Diversco, Inc./DHI Holdings, Inc. 1,392,069 Tenet Healthcare Corporation 971,250
Dwyer Group, Inc. 2,440,293 --------------
Examination Management Services, Inc. -- 9,059,303
Hamilton Funeral Services Centers, Inc. 380,271 --------------
Lancaster Laboratories, Inc. 821,243
Moss, Inc. 1,521,406 HOME & OFFICE FURNISHINGS,
M S X International, Inc. 346,500 HOUSEWARES, AND DURABLE
Service Corp International 42,128 CONSUMER PRODUCTS - 4.04%
U S M Holdings Corporation 2,129,057 Home Decor Holding Company 2,130,938
Washington Inventory Services, Inc. 1,434,935 Hussey Seating Corporation 3,332,316
-------------- Sport Court Int'l, Inc. 1,021,629
14,613,454 U-Line Corporation 2,132,292
-------------- --------------
ELECTRONICS - 3.59% 8,617,175
A E S Corporation 1,381,187 --------------
Calpine Corporation 377,500
Directed Electronics, Inc. 2,143,423 LEISURE, AMUSEMENT,
Flextronics International Ltd. 409,000 ENTERTAINMENT - 2.33%
N R G Energy, Inc. 749,875 Bally Total Fitness Holding Corporation 109,350
Precision Dynamics, Inc. 2,021,345 IMAX Corporation 498,750
Siebe PLC 588,250 Intrawest Corporation 518,125
-------------- Keepsake Quilting, Inc. 1,749,769
7,670,580 M G M Mirage, Inc. 380,156
-------------- Majestic Star Casino LLC 510,000
O E D Corp/Diamond Jo Company Guarantee 925,000
Warner Music Group 284,625
--------------
4,975,775
--------------
--------------------------------------------------------------------------------
26
CONSOLIDATED SCHEDULE OF INVESTMENTS(CONT) MASSMUTUAL CORPORATE INVESTORS
September 30, 2004
(Unaudited)
Fair Value/ Fair Value/
INDUSTRY CLASSIFICATION: (CONT.) Market Value INDUSTRY CLASSIFICATION:(CONT.) Market Value
-------------- --------------
MACHINERY - 12.20% PUBLISHING/PRINTING - 2.19%
Aearo Co. $ 459,000 American Media Operation, Inc. $ 933,750
C & M Conveyor, Inc. 2,113,836 Cadmus Communications Corporation 808,125
D T Industries, Inc. 537 Houghton Mifflin Co. 1,050,000
Integration Technology Systems, Inc. 1,666,474 Jostens I H Corporation 1,256,250
Manitowoc Company, Inc. 211,500 Sheridan Acquisition Corporation 405,938
Maxon Corporation 2,575,894 Von Hoffman Press, Inc. 222,000
N P C, Inc. 3,590,182 --------------
Numatics, Inc. 495,000 4,676,063
P W Eagle, Inc. 1,453,736 --------------
Safety Speed Cut Manufacturing
Company, Inc. 3,271,305 RETAIL STORES - 5.12%
Stanadyne Corporation 1,560,000 Blockbuster, Inc. 363,125
Synventive Equity LLC 2,162,701 E O S International, Inc. 12,000
Thermadyne LLC 729,375 General Nutrition Center 818,000
Tronair, Inc. 3,060,832 Neff Corporation 144,500
Tubular Textile Machinery 2,600,922 Olympic Sales, Inc. 3,555,609
Weasler Holdings LLC 97,145 P H I Holding Company 2,530,449
-------------- Rent-A-Center, Inc. 414,000
26,048,439 Rent-Way, Inc. 1,508,132
-------------- Sports Club Co. 142,500
TVI, Inc. 414,375
MEDICAL DEVICES/BIOTECH - 2.47% United Rentals, Inc. 1,029,688
Bausch & Lomb, Inc. -- --------------
Beacon Medical Products, Inc. 1,975,446 10,932,378
Coeur, Inc. 1,134,870 --------------
D H D Healthcare, Inc. --
E X C Acquisition Corporation 2,151,457 TECHNOLOGY - 0.60%
Invitrogen Corporation -- Cymer, Inc. 840,438
-------------- Delstar Holding Corporation 441,596
5,261,773 --------------
-------------- 1,282,034
--------------
MINING, STEEL, IRON
& NON PRECIOUS METALS - 0.05% TELECOMMUNICATIONS - 2.24%
Better Minerals & Aggregates 108,991 Alamosa Delaware, Inc. 773,062
-------------- Cincinnati Bell, Inc. 1,003,750
OIL AND GAS - 2.99% Jordan Telecom Products --
Centerpoint Energy, Inc. -- MCI, Inc. 947,500
Chesapeake Energy Corporation 343,688 Nextel Communications Corporation 752,500
Dynegy Holdings, Inc. 476,250 Telex Communications, Inc. 799,737
GulfMark Offshore, Inc. 572,063 Triton P C S, Inc. 499,125
Mustang Ventures Company 938,300 --------------
North American Energy Partners 390,000 4,775,674
Offshore Logistics, Inc. 456,750 --------------
Pacific Energy Partners 541,250 UTILITIES - 0.25%
Supreme Industries, Inc. 698,961 Nalco Co. 530,000
T G C Industries, Inc. 14,630 --------------
Transmontaigne, Inc. 1,939,957
-------------- Total Investments - 106.02% $ 226,347,609
6,371,849 ==============
--------------
PHARMACEUTICALS - 0.45%
Enzymatic Therapy, Inc. 961,568
--------------
--------------------------------------------------------------------------------
27
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 this evaluation have concluded that such disclosure
controls and procedures are effective to provide reasonable assurance that
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 has been no change 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 has materially affected, or is
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 (17CFR 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/ Roger W. Crandall
---------------------------------------------
Roger W. Crandall, President
Date November 24, 2004
------------------------------------------------------------------
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/ Roger W. Crandall
---------------------------------------------
Roger W. Crandall, President
Date November 24, 2004
------------------------------------------------------------------
By (Signature and Title)* /s/ Charles C. McCobb, Jr.
---------------------------------------------
Charles C. McCobb, Jr., Vice President and
Chief Financial Officer
Date November 24, 2004
------------------------------------------------------------------
* PRINT THE NAME AND TITLE OF EACH SIGNING OFFICER UNDER HIS OR HER SIGNATURE.