# EDGAR Filing Document

**Accession Number:** 0001065698
**File Stem:** 0001752724-23-037995
**Filing Date:** 2023-2
**Character Count:** 21107
**Document Hash:** afe86afd5dc5ad1e20bdce2e994f1072
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-037995.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001752724-23-037995

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS VARIABLE INSURANCE TRUST III
- **CENTRAL INDEX KEY:** 0001065698
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08879
- **FILM NUMBER:** 23663517

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 617-954-5000

**MAIL ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUN CAPITAL ADVISERS TRUST
- **DATE OF NAME CHANGE:** 19980709

## Series and Classes Contracts Data

### MFS Global Real Estate Portfolio (Series ID: S000008069)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000021901 | Initial Class |  |
| C000021902 | Service Class |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** MFS VARIABLE INSURANCE TRUST III

- **b. Investment Company Act file number:** 811-08879

- **c. CIK number of Registrant:** 0001065698

- **d. LEI of Registrant:** 549300QPPZUNGK3D0K61

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 111 HUNTINGTON AVENUE

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

  - **Telephone number:** 617-954-5000

**Item A.2. Information about the Series.**

- **a. Name of Series:** MFS Global Real Estate Portfolio

- **b. EDGAR series identifier (if any):** S000008069

- **c. LEI of Series:** 549300YBJ6K5SOLBY732

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $160013792.58

**Total Liabilities:** $188958.26

**Net Assets:** $159824834.32

**Cash Not Reported:** $336756.15

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021901 | 3.03%                | 7.99%                | -3.47%               |
| Class ID C000021902 | 2.94%                | 8.02%                | -3.52%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $857972.34               | $3417045.28                                |
| Month 2  | $365.10                  | $12384872.39                               |
| Month 3  | $-1840586.79             | $-4552617.26                               |

### Schedule of Portfolio Investments

| Name                                      | Title                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LEG Immobilien SE                         | LEG Immobilien SE                         | CUSIP: 000000000<br>LEI: 391200SO40AKONBO0Z96 | Long             | EC               | CORP              | DE        |     17121 | NS      | $1115391.31   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Corp Inmobiliaria Vesta SAB de CV         | Corp Inmobiliaria Vesta SAB de CV         | CUSIP: 000000000<br>LEI: 4469000001BIRIFZJ959 | Long             | EC               | CORP              | MX        |    824013 | NS      | $1966738.24   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Swire Properties Ltd                      | Swire Properties Ltd                      | CUSIP: 000000000<br>LEI: 5299001L12PHYVQ92465 | Long             | EC               | CORP              | HK        |    853400 | NS      | $2158956.09   | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Brookfield Corp                           | Brookfield Corp                           | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |     63185 | NS      | $1987014.25   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                       | Sun Communities Inc                       | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     30709 | NS      | $4391387.00   | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Farmland Partners Inc                     | Farmland Partners Inc                     | CUSIP: 31154R109<br>LEI: 549300LB188CHPZ4IL37 | Long             | EC               | CORP              | US        |     31699 | NS      | $394969.54    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                              | Prologis Inc                              | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    116701 | NS      | $13155703.73  | 8.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc                  | Phillips Edison & Co Inc                  | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |    113385 | NS      | $3610178.40   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                     | American Homes 4 Rent                     | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     86698 | NS      | $2613077.72   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Star Asia Investment Corp                 | Star Asia Investment Corp                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2764 | NS      | $1157946.64   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Rayonier Inc                              | Rayonier Inc                              | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |    116265 | NS      | $3832094.40   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodman Group                             | Goodman Group                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    381662 | NS      | $4484000.74   | 2.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Big Yellow Group PLC                      | Big Yellow Group PLC                      | CUSIP: 000000000<br>LEI: 213800W7Q4V2ZI8LIW31 | Long             | EC               | CORP              | GB        |    207693 | NS      | $2880007.73   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                       | American Tower Corp                       | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     12336 | NS      | $2613504.96   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Shurgard Self Storage SA                  | Shurgard Self Storage SA                  | CUSIP: 000000000<br>LEI: 549300J0UEIKU81XO336 | Long             | EC               | CORP              | LU        |     56790 | NS      | $2610440.53   | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities Inc       | Alexandria Real Estate Equities Inc       | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     27346 | NS      | $3983491.82   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitaland Investment Ltd/Singapore       | Capitaland Investment Ltd/Singapore       | CUSIP: 000000000<br>LEI: 254900AT4UQDU7SNXX49 | Long             | EC               | CORP              | SG        |   1577400 | NS      | $4357458.56   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Sino Land Co Ltd                          | Sino Land Co Ltd                          | CUSIP: 000000000<br>LEI: 529900G5P51053HJVZ92 | Long             | EC               | CORP              | HK        |   2036613 | NS      | $2536589.76   | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Capitaland India Trust                    | Capitaland India Trust                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SG        |   1795900 | NS      | $1515131.40   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| ESR Group Ltd                             | ESR Group Ltd                             | CUSIP: 000000000<br>LEI: 549300C81AR42BZUFZ09 | Long             | EC               | CORP              | KY        |   1369600 | NS      | $2874151.78   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Parkway Life Real Estate Investment Trust | Parkway Life Real Estate Investment Trust | CUSIP: 000000000<br>LEI: 549300I4DKVD2OF5LW91 | Long             | EC               | CORP              | SG        |    331400 | NS      | $930315.07    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                | Brixmor Property Group Inc                | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |    169628 | NS      | $3845466.76   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Rural Funds Group                         | Rural Funds Group                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    203263 | NS      | $331847.94    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Shaftesbury PLC                           | Shaftesbury PLC                           | CUSIP: 000000000<br>LEI: 213800N7LHKFNTDKAT98 | Long             | EC               | CORP              | GB        |    645863 | NS      | $2873403.39   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Cellnex Telecom SA                        | Cellnex Telecom SA                        | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |     85449 | NS      | $2841659.03   | 1.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Douglas Emmett Inc                        | Douglas Emmett Inc                        | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    105591 | NS      | $1655666.88   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Grainger PLC                              | Grainger PLC                              | CUSIP: 000000000<br>LEI: 2138007CEIRKZMNI2979 | Long             | EC               | CORP              | GB        |   1223109 | NS      | $3726267.92   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                  | Essex Property Trust Inc                  | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |     14298 | NS      | $3030032.16   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Helios Towers PLC                         | Helios Towers PLC                         | CUSIP: 000000000<br>LEI: 213800DGC7GS4XCHCU30 | Long             | EC               | CORP              | GB        |   1632365 | NS      | $2093828.15   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                   | SBA Communications Corp                   | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |      8206 | NS      | $2300223.86   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS Institutional Money Market Portfolio  | MFS Institutional Money Market Portfolio  | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        |   3321320 | NS      | $3322316.64   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Asset Management Ltd           | Brookfield Asset Management Ltd           | CUSIP: 113004105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     15796 | NS      | $452297.58    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc                 | AvalonBay Communities Inc                 | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |     22881 | NS      | $3695739.12   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                     | Urban Edge Properties                     | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    179039 | NS      | $2522659.51   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Granite Real Estate Investment Trust      | Granite Real Estate Investment Trust      | CUSIP: 387437114<br>LEI: 549300A6I7CLE0ZC0396 | Long             | EC               | CORP              | CA        |     59333 | NS      | $3027122.33   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITE Group PLC/The                       | UNITE Group PLC/The                       | CUSIP: 000000000<br>LEI: 213800BBUUWVDH9YI827 | Long             | EC               | CORP              | GB        |    181103 | NS      | $1992394.86   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                  | Simon Property Group Inc                  | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     66316 | NS      | $7790803.68   | 4.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Logistics Fund Inc                  | Japan Logistics Fund Inc                  | CUSIP: 000000000<br>LEI: 3538004KZWISCQO70151 | Long             | EC               | CORP              | JP        |       964 | NS      | $2299799.26   | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Heiwa Real Estate Co Ltd                  | Heiwa Real Estate Co Ltd                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     30800 | NS      | $853865.80    | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| National Retail Properties Inc            | National Retail Properties Inc            | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     83871 | NS      | $3837936.96   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Apartment Properties REIT        | Canadian Apartment Properties REIT        | CUSIP: 134921105<br>LEI: 549300B1MYVTQEB2DI90 | Long             | EC               | CORP              | CA        |     30908 | NS      | $974263.99    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage REIT                     | National Storage REIT                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   2036026 | NS      | $3201873.35   | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Katitas Co Ltd                            | Katitas Co Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    170100 | NS      | $3914218.23   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Vonovia SE                                | Vonovia SE                                | CUSIP: 000000000<br>LEI: 5299005A2ZEP6AP7KM81 | Long             | EC               | CORP              | DE        |    114943 | NS      | $2709355.69   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Segro PLC                                 | Segro PLC                                 | CUSIP: 000000000<br>LEI: 213800XC35KGM9NFC641 | Long             | EC               | CORP              | GB        |    289900 | NS      | $2676224.30   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp                     | Encompass Health Corp                     | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     53080 | NS      | $3174714.80   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                           | Weyerhaeuser Co                           | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |    132402 | NS      | $4104462.00   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                   | Extra Space Storage Inc                   | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34548 | NS      | $5084774.64   | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                               | Equinix Inc                               | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     12750 | NS      | $8351632.50   | 5.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc           | Equity LifeStyle Properties Inc           | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     71246 | NS      | $4602491.60   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Region RE Ltd                             | Region RE Ltd                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    444636 | NS      | $820399.60    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Embassy Office Parks REIT                 | Embassy Office Parks REIT                 | CUSIP: 000000000<br>LEI: 335800O555A557E43Z08 | Long             | EC               | CORP              | IN        |    480604 | NS      | $1952217.75   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-17

**Name of Applicant:** MFS VARIABLE INSURANCE TRUST III

**Signature:** Kasey Phillips

**Name of Signer:** Kasey Phillips

**Title:** Assistant Treasurer