Company: CIF
Filing Date: 2025-07-28
Form Type: N-CSRS
Source: 0001683863-25-006222
Chunk: 10

Company: MFS INTERMEDIATE HIGH INCOME FUND
Filing Date: 2025-07-28
Form: N-CSRS
Chunk 10
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 or decrease exposure to a particular market or segment of the market, or security, to increase or decrease interest rate exposure, or as alternatives to direct investments. Derivatives are used for hedging or non-hedging purposes. While hedging can reduce or eliminate losses, it can also reduce or eliminate gains. When the fund uses derivatives as an investment to increase market exposure, or for hedging purposes, gains and losses from derivative instruments may be substantially greater than the derivative’s original cost. The derivative instruments used by the fund during the period were purchased options and forward foreign currency exchange contracts. Depending on the type of derivative, a fund may exit a derivative position by entering into an offsetting transaction with a counterparty or exchange, negotiating an agreement with the derivative

27

Notes to Financial Statements (unaudited) - continued

counterparty, or novating the position to a third party. The fund's period end derivatives, as presented in the Portfolio of Investments and the associated Derivative Contract tables, generally are indicative of the volume of its derivative activity during the period. The following table presents, by major type of derivative contract, the fair value, on a gross basis, of the asset and liability components of derivatives held by the fund at May 31, 2025 as reported in the Statement of Assets and Liabilities:

|                  |                                             | Fair Value            |
| Risk             | Derivative Contracts                        | Liability Derivatives |
| Foreign Exchange | Forward Foreign Currency Exchange Contracts | $(2,992)              |

The following table presents, by major type of derivative contract, the realized gain (loss) on derivatives held by the fund for the six months ended May 31, 2025 as reported in the Statement of Operations:

| Risk             | Forward Foreign 
 Currency        
 Exchange        
 Contracts       | Unaffiliated Issuers 
           (Purchased 
             Options) |
| Foreign Exchange | $(15,342)       |                   $— |
| Equity           | —               |              -35,795 |
| Total            | $(15,342)       |            $(35,795) |

The following table presents, by major type of derivative contract, the change in unrealized appreciation or depreciation on derivatives held by the fund for the six months ended May 31, 2025 as reported in the Statement of Operations:

| Risk             | Forward Foreign 
 Currency        
 Exchange        
 Contracts       | Unaffiliated Issuers 
           (Purchased 
             Options) |
| Foreign Exchange | $(32,056)