# EDGAR Filing Document

**Accession Number:** 0001065698
**File Stem:** 0001410368-26-016713
**Filing Date:** 2026-2
**Character Count:** 24042
**Document Hash:** 1023058eb2969093e8244efe4e0d7956
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-016713.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0001410368-26-016713

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS VARIABLE INSURANCE TRUST III
- **CENTRAL INDEX KEY:** 0001065698

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08879
- **FILM NUMBER:** 26668429

**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:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $171092950.02

**Total Liabilities:** $1026586.98

**Net Assets:** $170066363.04

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021901 | -1.48%               | 1.51%                | -0.86%               |
| Class ID C000021902 | -1.53%               | 1.49%                | -0.83%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $149119.80               | $-2812325.65                               |
| Month 2  | $67039.26                | $1779785.33                                |
| Month 3  | $160628.18               | $-1835118.26                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Acadia Realty Trust                              | Acadia Realty Trust                              | CUSIP: 004239109<br>LEI: 254900C5XLB1YYJQSH07 | Long             | EC               | CORP              | US        |    150040 | NS      | $3081821.60   | 1.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Derwent London PLC                               | Derwent London PLC                               | CUSIP: 000000000<br>LEI: 213800BXKQ9KZNUR1M61 | Long             | EC               | CORP              | GB        |     35728 | NS      | $831754.02    | 0.49%             |  |  |  | No            | 2                  | On Loan: No      |
| American Homes 4 Rent                            | American Homes 4 Rent                            | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |    108149 | NS      | $3471582.90   | 2.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Big Yellow Group PLC                             | Big Yellow Group PLC                             | CUSIP: 000000000<br>LEI: 213800W7Q4V2ZI8LIW31 | Long             | EC               | CORP              | GB        |    116401 | NS      | $1634512.04   | 0.96%             |  |  |  | No            | 2                  | On Loan: No      |
| Americold Realty Trust Inc                       | Americold Realty Trust Inc                       | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               | CORP              | US        |    116537 | NS      | $1498665.82   | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| BXP Inc                                          | BXP Inc                                          | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     40381 | NS      | $2724909.88   | 1.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Digital Realty Trust Inc                         | Digital Realty Trust Inc                         | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     45164 | NS      | $6987322.44   | 4.11%             |  |  |  | No            | 1                  | On Loan: No      |
| DigitalBridge Group Inc                          | DigitalBridge Group Inc                          | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Long             | EC               | CORP              | US        |     99534 | NS      | $1526851.56   | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Douglas Emmett Inc                               | Douglas Emmett Inc                               | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    107027 | NS      | $1176226.73   | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Equinix Inc                                      | Equinix Inc                                      | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     11856 | NS      | $9083592.96   | 5.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Equity LifeStyle Properties Inc                  | Equity LifeStyle Properties Inc                  | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     62624 | NS      | $3795640.64   | 2.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Essential Properties Realty Trust Inc            | Essential Properties Realty Trust Inc            | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |     52091 | NS      | $1545019.06   | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Essex Property Trust Inc                         | Essex Property Trust Inc                         | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |     11193 | NS      | $2928984.24   | 1.72%             |  |  |  | No            | 1                  | On Loan: No      |
| Extra Space Storage Inc                          | Extra Space Storage Inc                          | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36149 | NS      | $4707322.78   | 2.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Federal Realty Investment Trust                  | Federal Realty Investment Trust                  | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               | CORP              | US        |     31820 | NS      | $3207456.00   | 1.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Healthcare Realty Trust Inc                      | Healthcare Realty Trust Inc                      | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |    235319 | NS      | $3988657.05   | 2.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Highwoods Properties Inc                         | Highwoods Properties Inc                         | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |    103649 | NS      | $2676217.18   | 1.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Kimco Realty Corp                                | Kimco Realty Corp                                | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |    160495 | NS      | $3253233.65   | 1.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Lamar Advertising Co                             | Lamar Advertising Co                             | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     25124 | NS      | $3180195.92   | 1.87%             |  |  |  | No            | 1                  | On Loan: No      |
| MFS Institutional Money Market Portfolio         | MFS Institutional Money Market Portfolio         | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | EC               | RF                | US        |   5764268 | NS      | $5765420.96   | 3.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Mid-America Apartment Communities Inc            | Mid-America Apartment Communities Inc            | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |     26561 | NS      | $3689588.51   | 2.17%             |  |  |  | No            | 1                  | On Loan: No      |
| GPT Group/The                                    | GPT Group/The                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    812647 | NS      | $2928642.98   | 1.72%             |  |  |  | No            | 2                  | On Loan: No      |
| NNN REIT Inc                                     | NNN REIT Inc                                     | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     66236 | NS      | $2624932.68   | 1.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Nippon Building Fund Inc                         | Nippon Building Fund Inc                         | CUSIP: 000000000<br>LEI: 52990053R8NL2MB32172 | Long             | EC               | CORP              | JP        |      2994 | NS      | $2729564.23   | 1.60%             |  |  |  | No            | 2                  | On Loan: No      |
| Japan Metropolitan Fund Invest                   | Japan Metropolitan Fund Invest                   | CUSIP: 000000000<br>LEI: 353800QDHNIP60E1LQ93 | Long             | EC               | CORP              | JP        |      3370 | NS      | $2667049.16   | 1.57%             |  |  |  | No            | 2                  | On Loan: No      |
| Mitsubishi Estate Co Ltd                         | Mitsubishi Estate Co Ltd                         | CUSIP: 000000000<br>LEI: 353800KOFMRGOXSJ5Z65 | Long             | EC               | CORP              | JP        |    154000 | NS      | $3756601.12   | 2.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Mitsui Fudosan Co Ltd                            | Mitsui Fudosan Co Ltd                            | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |    392300 | NS      | $4459206.78   | 2.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Prologis Inc                                     | Prologis Inc                                     | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    108584 | NS      | $13861833.44  | 8.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Regency Centers Corp                             | Regency Centers Corp                             | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     35274 | NS      | $2434964.22   | 1.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Rexford Industrial Realty Inc                    | Rexford Industrial Realty Inc                    | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |    103129 | NS      | $3993154.88   | 2.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Ryman Hospitality Properties Inc                 | Ryman Hospitality Properties Inc                 | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     23783 | NS      | $2250347.46   | 1.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Simon Property Group Inc                         | Simon Property Group Inc                         | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     34160 | NS      | $6323357.60   | 3.72%             |  |  |  | No            | 1                  | On Loan: No      |
| Sunstone Hotel Investors Inc                     | Sunstone Hotel Investors Inc                     | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |    194733 | NS      | $1740913.02   | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Ventas Inc                                       | Ventas Inc                                       | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     85070 | NS      | $6582716.60   | 3.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Invincible Investment Corp                       | Invincible Investment Corp                       | CUSIP: 000000000<br>LEI: 353800JY6M2692VAV685 | Long             | EC               | CORP              | JP        |      2641 | NS      | $1085804.39   | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Goodman Group                                    | Goodman Group                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    341760 | NS      | $7026348.21   | 4.13%             |  |  |  | No            | 2                  | On Loan: No      |
| Grainger PLC                                     | Grainger PLC                                     | CUSIP: 000000000<br>LEI: 2138007CEIRKZMNI2979 | Long             | EC               | CORP              | GB        |    907795 | NS      | $2220568.53   | 1.31%             |  |  |  | No            | 2                  | On Loan: No      |
| KDX Realty Investment Corp                       | KDX Realty Investment Corp                       | CUSIP: 000000000<br>LEI: 353800FFT483NCIHFY42 | Long             | EC               | CORP              | JP        |      1748 | NS      | $1961152.56   | 1.15%             |  |  |  | No            | 2                  | On Loan: No      |
| Link REIT                                        | Link REIT                                        | CUSIP: 000000000<br>LEI: 529900XUE70U36QX5M62 | Long             | EC               | CORP              | HK        |    243100 | NS      | $1082776.62   | 0.64%             |  |  |  | No            | 2                  | On Loan: No      |
| Charter Hall Group                               | Charter Hall Group                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    189779 | NS      | $3085470.46   | 1.81%             |  |  |  | No            | 2                  | On Loan: No      |
| Mitsui Fudosan Accommodations Fund Inc           | Mitsui Fudosan Accommodations Fund Inc           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1232 | NS      | $1057078.65   | 0.62%             |  |  |  | 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        |    368700 | NS      | $1170294.07   | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Industrial & Infrastructure Fund Investment Corp | Industrial & Infrastructure Fund Investment Corp | CUSIP: 000000000<br>LEI: 353800WCHFY04YKYCI19 | Long             | EC               | CORP              | JP        |      1109 | NS      | $1089372.31   | 0.64%             |  |  |  | No            | 2                  | On Loan: No      |
| Segro PLC                                        | Segro PLC                                        | CUSIP: 000000000<br>LEI: 213800XC35KGM9NFC641 | Long             | EC               | CORP              | GB        |    366625 | NS      | $3546590.21   | 2.09%             |  |  |  | No            | 2                  | On Loan: No      |
| Shaftesbury Capital PLC                          | Shaftesbury Capital PLC                          | CUSIP: 000000000<br>LEI: 549300TTXXZ1SHUI0D54 | Long             | EC               | CORP              | GB        |    783632 | NS      | $1525550.82   | 0.90%             |  |  |  | No            | 2                  | On Loan: No      |
| Swire Properties Ltd                             | Swire Properties Ltd                             | CUSIP: 000000000<br>LEI: 5299001L12PHYVQ92465 | Long             | EC               | CORP              | HK        |    665800 | NS      | $1792830.60   | 1.05%             |  |  |  | No            | 2                  | On Loan: No      |
| Vonovia SE                                       | Vonovia SE                                       | CUSIP: 000000000<br>LEI: 5299005A2ZEP6AP7KM81 | Long             | EC               | CORP              | DE        |    125524 | NS      | $3620037.82   | 2.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Unibail-Rodamco-Westfield                        | Unibail-Rodamco-Westfield                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | N/A       |     36005 | NS      | $3913225.28   | 2.30%             |  |  |  | No            | 2                  | On Loan: No      |
| National Storage REIT                            | National Storage REIT                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    619446 | NS      | $1128547.35   | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Scentre Group                                    | Scentre Group                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1464033 | NS      | $4088406.22   | 2.40%             |  |  |  | No            | 2                  | On Loan: No      |
| Shurgard Self Storage Ltd                        | Shurgard Self Storage Ltd                        | CUSIP: 000000000<br>LEI: 549300J0UEIKU81XO336 | Long             | EC               | CORP              | GG        |     78868 | NS      | $2709088.40   | 1.59%             |  |  |  | No            | 2                  | On Loan: No      |
| Star Asia Investment Corp                        | Star Asia Investment Corp                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2562 | NS      | $1009163.69   | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| EURO CURRENCY                                    | EURO CURRENCY                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | N/A       |         5 | NS      | $5.76         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| POUND STERLING                                   | POUND STERLING                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | GB        |        19 | NS      | $25.52        | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| HONG KONG DOLLAR                                 | HONG KONG DOLLAR                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | HK        |    308445 | NS      | $39632.17     | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| INDIAN RUPEE                                     | INDIAN RUPEE                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | IN        |      9530 | NS      | $106.03       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| MEXICAN PESO (NEW)                               | MEXICAN PESO (NEW)                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | MX        |         0 | NS      | $0.01         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Exchange traded                                  | EQU05055 MFS                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | LU        |       399 | NC      | $119700.00    | 0.07%             |  |  |  | No            | 2                  | On Loan: No      |
| Exchange traded                                  | EQU05058 MFS                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | LU        |       213 | NC      | $3195.00      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2026-01-21

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

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer