# EDGAR Filing Document

**Accession Number:** 0000719269
**File Stem:** 0001410368-25-033465
**Filing Date:** 2025-12
**Character Count:** 36487
**Document Hash:** 3c45406a61086f534e229c2f7cc72094
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-033465.hdr.sgml**: 20251205

**ACCESSION NUMBER**: 0001410368-25-033465

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20251205

**DATE AS OF CHANGE**: 20251205

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS VARIABLE INSURANCE TRUST II
- **CENTRAL INDEX KEY:** 0000719269

**ORGANIZATION NAME:**
- **EIN:** 046540044
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-MFP3
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03732
- **FILM NUMBER:** 251551422

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 16179545839

**MAIL ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS SUN LIFE SERIES TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COMPASS SERIES TRUST
- **DATE OF NAME CHANGE:** 19850325

## Series and Classes Contracts Data

### MFS U.S. Government Money Market Portfolio (Series ID: S000002643)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000007255 | Initial Class |  |
| C000007256 | Service Class |  |

# Form N-MFP3: Monthly Schedule of Portfolio Holdings

## N-MFP: Filer Information
**Submission Type:** N-MFP3
**CIK:** 0000719269

### General Information

**Report for (YYYY-MM-DD):** 2025-11-30

**Registrant Full Name:** MFS VARIABLE INSURANCE TRUST II

**CIK Number of Registrant:** 0000719269

**LEI of Registrant:** LQOFLJQP174GQBC84T87

**Name of Series:** MFS U.S. Government Money Market Portfolio

**LEI of Series:** 6281G1890F5ADRR1GL16

**EDGAR Series Identifier:** S000002643

**Total number of share classes in the series:** 2

**Is this the fund's final filing on Form N-MFP?:** No

**Has the fund acquired or merged with another fund?:** No

## Part A: Series-Level Information about the Fund

### Service Providers
| Role                          | Details                                            | File/CIK Number   |
|:---|:---|:---|
| Investment Adviser            | Massachusetts Financial Services Company           | 801-17352         |
| Independent Public Accountant | Deloitte & Touche LLP<br>City: Boston<br>State: MA |  |
| Administrator                 | Massachusetts Financial Services Company           |  |
| Transfer Agent                | MFS Service Center, Inc<br>CIK: 0000769188         | 084-01316         |

### Fund Characteristics & Assets

- **Securities Act File Number:** 002-83616

- **Is this a Feeder Fund?:** No

- **Is this a Master Fund?:** No

- **Is this series for insurance company separate accounts?:** Yes

- **Money Market Fund Category:** Government

- **Is this a Retail Money Market Fund?:** No

- **Is this a Government Money Market Fund?:** No

- **WAM:** 33 days

- **WAL:** 33 days

- **Total Value of Portfolio Securities:** $262478635.66

- **Amortized Cost of Portfolio Securities:** $262485351.81

- **Cash:** $1.03

- **Total Other Assets:** $1209930.51

- **Total Liabilities:** $829892.12

- **Net Assets of Series:** $262865391.23

- **Number of Shares Outstanding (Series):** 263055396.9200

- **Does the fund seek to maintain a stable price per share?:** Yes

- **Stable Price Per Share:** $1.00

- **Is cash management vehicle an affiliated fund?:** No

- **Does the fund apply liquidity fees?:** No

### Daily & Weekly Liquid Assets
| Date       | Daily Liquid Assets ($)   | Weekly Liquid Assets ($)   | Daily Liquid Assets (%)   | Weekly Liquid Assets (%)   |
|:---|:---|:---|:---|:---|
| 2025-11-03 | $165096867.40             | $212680226.14              | 62.1400%                  | 80.0500%                   |
| 2025-11-04 | $164668028.36             | $212256697.72              | 62.0700%                  | 80.0100%                   |
| 2025-11-05 | $164573653.29             | $212168142.48              | 62.0300%                  | 79.9700%                   |
| 2025-11-06 | $164689409.34             | $212291879.81              | 62.0700%                  | 80.0100%                   |
| 2025-11-07 | $164659084.38             | $212262885.83              | 62.0600%                  | 80.0000%                   |
| 2025-11-10 | $171809963.13             | $210533888.36              | 65.1800%                  | 79.8700%                   |
| 2025-11-11 | $171810602.99             | $210538541.52              | 65.1700%                  | 79.8600%                   |
| 2025-11-12 | $171619617.13             | $210349371.15              | 65.0800%                  | 79.7700%                   |
| 2025-11-13 | $164172599.74             | $223398004.71              | 62.2300%                  | 84.6900%                   |
| 2025-11-14 | $164261280.24             | $223492468.12              | 62.2200%                  | 84.6600%                   |
| 2025-11-17 | $164034439.39             | $223284324.83              | 62.1800%                  | 84.6400%                   |
| 2025-11-18 | $164157629.87             | $223414698.33              | 62.2200%                  | 84.6800%                   |
| 2025-11-19 | $164209469.42             | $223474246.46              | 62.2500%                  | 84.7100%                   |
| 2025-11-20 | $164049512.68             | $223319901.55              | 62.2200%                  | 84.7000%                   |
| 2025-11-21 | $163752899.70             | $223886354.13              | 62.2600%                  | 85.1200%                   |
| 2025-11-24 | $163715086.56             | $223870911.48              | 62.2500%                  | 85.1300%                   |
| 2025-11-25 | $163667189.74             | $223826359.44              | 62.2500%                  | 85.1300%                   |
| 2025-11-26 | $163558483.21             | $223725487.63              | 62.1800%                  | 85.0500%                   |
| 2025-11-28 | $163173767.37             | $231312616.27              | 61.8800%                  | 87.7200%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-11-03 | 4.0800%             |
| 2025-11-04 | 4.0600%             |
| 2025-11-05 | 4.0300%             |
| 2025-11-06 | 4.0200%             |
| 2025-11-07 | 3.9900%             |
| 2025-11-10 | 3.9800%             |
| 2025-11-11 | 3.9800%             |
| 2025-11-12 | 3.9800%             |
| 2025-11-13 | 3.9800%             |
| 2025-11-14 | 3.9700%             |
| 2025-11-17 | 3.9700%             |
| 2025-11-18 | 3.9600%             |
| 2025-11-19 | 3.9600%             |
| 2025-11-20 | 3.9500%             |
| 2025-11-21 | 3.9500%             |
| 2025-11-24 | 3.9500%             |
| 2025-11-25 | 3.9500%             |
| 2025-11-26 | 3.9600%             |
| 2025-11-28 | 3.9800%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-11-03 | 0.9993                      |
|  |  |
| 2025-11-04 | 0.9993                      |
|  |  |
| 2025-11-05 | 0.9993                      |
|  |  |
| 2025-11-06 | 0.9993                      |
|  |  |
| 2025-11-07 | 0.9992                      |
|  |  |
| 2025-11-10 | 0.9993                      |
|  |  |
| 2025-11-11 | 0.9993                      |
|  |  |
| 2025-11-12 | 0.9993                      |
|  |  |
| 2025-11-13 | 0.9993                      |
|  |  |
| 2025-11-14 | 0.9992                      |
|  |  |
| 2025-11-17 | 0.9993                      |
|  |  |
| 2025-11-18 | 0.9993                      |
|  |  |
| 2025-11-19 | 0.9993                      |
|  |  |
| 2025-11-20 | 0.9993                      |
|  |  |
| 2025-11-21 | 0.9992                      |
|  |  |
| 2025-11-24 | 0.9993                      |
|  |  |
| 2025-11-25 | 0.9993                      |
|  |  |
| 2025-11-26 | 0.9993                      |
|  |  |
| 2025-11-28 | 0.9993                      |
|  |  |

## Part B: Class-Level Information about the Fund

### Class: Initial Class

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $173270642.82

- **Number of Shares Outstanding:** 173396233.8500

- **Expense Reimbursement/Waiver:** 1939.00

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-11-03 | 0.9993          |
|  |  |
| 2025-11-04 | 0.9993          |
|  |  |
| 2025-11-05 | 0.9993          |
|  |  |
| 2025-11-06 | 0.9993          |
|  |  |
| 2025-11-07 | 0.9992          |
|  |  |
| 2025-11-10 | 0.9993          |
|  |  |
| 2025-11-11 | 0.9993          |
|  |  |
| 2025-11-12 | 0.9993          |
|  |  |
| 2025-11-13 | 0.9993          |
|  |  |
| 2025-11-14 | 0.9992          |
|  |  |
| 2025-11-17 | 0.9993          |
|  |  |
| 2025-11-18 | 0.9993          |
|  |  |
| 2025-11-19 | 0.9993          |
|  |  |
| 2025-11-20 | 0.9993          |
|  |  |
| 2025-11-21 | 0.9992          |
|  |  |
| 2025-11-24 | 0.9993          |
|  |  |
| 2025-11-25 | 0.9993          |
|  |  |
| 2025-11-26 | 0.9993          |
|  |  |
| 2025-11-28 | 0.9993          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-11-03 | $544993.51                | $233352.17              |
| 2025-11-04 | $97.26                    | $49340.75               |
| 2025-11-05 | $116448.44                | $2679.66                |
| 2025-11-06 | $13646.72                 | $59565.20               |
| 2025-11-07 | $12284.62                 | $1781678.99             |
| 2025-11-10 | $39.57                    | $80482.24               |
| 2025-11-11 | $444.98                   | $64349.20               |
| 2025-11-12 | $266612.82                | $0.00                   |
| 2025-11-13 | $89527.25                 | $737.26                 |
| 2025-11-14 | $169486.24                | $24072.57               |
| 2025-11-17 | $20364.58                 | $100055.97              |
| 2025-11-18 | $80180.31                 | $0.00                   |
| 2025-11-19 | $4395.26                  | $13623.27               |
| 2025-11-20 | $867.11                   | $687068.09              |
| 2025-11-21 | $314520.38                | $320025.83              |
| 2025-11-24 | $0.00                     | $9391.80                |
| 2025-11-25 | $3.63                     | $17551.58               |
| 2025-11-26 | $0.00                     | $35388.09               |
| 2025-11-28 | $259.96                   | $2156.94                |

**Total Gross Subscriptions (Month):** $1634172.64

**Total Gross Redemptions (Month):** $3481519.61

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-11-03 | 3.6200%           |
| 2025-11-04 | 3.6000%           |
| 2025-11-05 | 3.5800%           |
| 2025-11-06 | 3.5700%           |
| 2025-11-07 | 3.5400%           |
| 2025-11-10 | 3.5200%           |
| 2025-11-11 | 3.5200%           |
| 2025-11-12 | 3.5200%           |
| 2025-11-13 | 3.5300%           |
| 2025-11-14 | 3.5100%           |
| 2025-11-17 | 3.5100%           |
| 2025-11-18 | 3.5100%           |
| 2025-11-19 | 3.5000%           |
| 2025-11-20 | 3.5000%           |
| 2025-11-21 | 3.4900%           |
| 2025-11-24 | 3.4900%           |
| 2025-11-25 | 3.4900%           |
| 2025-11-26 | 3.5100%           |
| 2025-11-28 | 3.5300%           |

**Beneficial/Record Owner Categories**
| Category          | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Insurance company |  | 67.1700%         | 0.0000%              |
| Insurance company |  | 6.7400%          | 0.0000%              |
| Insurance company |  | 21.9200%         | 0.0000%              |

### Class: Service Class

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $89594748.41

- **Number of Shares Outstanding:** 89659163.0700

- **Expense Reimbursement/Waiver:** 19336.00

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-11-03 | 0.9993          |
|  |  |
| 2025-11-04 | 0.9993          |
|  |  |
| 2025-11-05 | 0.9993          |
|  |  |
| 2025-11-06 | 0.9993          |
|  |  |
| 2025-11-07 | 0.9992          |
|  |  |
| 2025-11-10 | 0.9993          |
|  |  |
| 2025-11-11 | 0.9993          |
|  |  |
| 2025-11-12 | 0.9993          |
|  |  |
| 2025-11-13 | 0.9993          |
|  |  |
| 2025-11-14 | 0.9992          |
|  |  |
| 2025-11-17 | 0.9993          |
|  |  |
| 2025-11-18 | 0.9993          |
|  |  |
| 2025-11-19 | 0.9993          |
|  |  |
| 2025-11-20 | 0.9993          |
|  |  |
| 2025-11-21 | 0.9992          |
|  |  |
| 2025-11-24 | 0.9993          |
|  |  |
| 2025-11-25 | 0.9993          |
|  |  |
| 2025-11-26 | 0.9993          |
|  |  |
| 2025-11-28 | 0.9993          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-11-03 | $282822.23                | $215472.52              |
| 2025-11-04 | $0.00                     | $62843.56               |
| 2025-11-05 | $0.00                     | $18697.63               |
| 2025-11-06 | $0.00                     | $15959.70               |
| 2025-11-07 | $242.90                   | $21540.36               |
| 2025-11-10 | $0.00                     | $53050.61               |
| 2025-11-11 | $0.00                     | $22460.40               |
| 2025-11-12 | $0.00                     | $7444.27                |
| 2025-11-13 | $0.00                     | $31670.73               |
| 2025-11-14 | $0.00                     | $410788.48              |
| 2025-11-17 | $183427.39                | $183.52                 |
| 2025-11-18 | $927.57                   | $46637.89               |
| 2025-11-19 | $0.00                     | $168492.72              |
| 2025-11-20 | $0.00                     | $36580.70               |
| 2025-11-21 | $132.45                   | $69247.54               |
| 2025-11-24 | $0.00                     | $55548.09               |
| 2025-11-25 | $108.29                   | $33712.99               |
| 2025-11-26 | $32511.34                 | $426850.90              |
| 2025-11-28 | $1176133.26               | $0.00                   |

**Total Gross Subscriptions (Month):** $1676305.43

**Total Gross Redemptions (Month):** $1697182.61

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-11-03 | 3.6200%           |
| 2025-11-04 | 3.6000%           |
| 2025-11-05 | 3.5800%           |
| 2025-11-06 | 3.5700%           |
| 2025-11-07 | 3.5400%           |
| 2025-11-10 | 3.5200%           |
| 2025-11-11 | 3.5200%           |
| 2025-11-12 | 3.5200%           |
| 2025-11-13 | 3.5300%           |
| 2025-11-14 | 3.5100%           |
| 2025-11-17 | 3.5100%           |
| 2025-11-18 | 3.5100%           |
| 2025-11-19 | 3.5000%           |
| 2025-11-20 | 3.5000%           |
| 2025-11-21 | 3.4900%           |
| 2025-11-24 | 3.4900%           |
| 2025-11-25 | 3.4900%           |
| 2025-11-26 | 3.5100%           |
| 2025-11-28 | 3.5300%           |

**Beneficial/Record Owner Categories**
| Category          | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Insurance company |  | 90.7200%         | 0.0000%              |

## Part C: Schedule of Portfolio Securities

### Security 1: Bank of America NA

- **C.1 - Title:** Bank of America NA 4.050000%
- **C.6 - Investment Category:** U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash
- **Identifiers:** C.3 - CUSIP: 03199T002, C.3 - LEI: 549300HN4UKV1E2R3U73, C.5 - Other ID: 03199T002_4.05_1201
- **C.18 - Value (incl. sponsor support):** $49854000.00
- **C.18.a - Value (excl. sponsor support):** $49854000.00
- **C.19 - Percentage of Net Assets:** 18.9700%
- **C.17 - Yield as of Reporting Date:** 4.0500%
- **C.11 - Maturity Date (WAM):** 2025-12-01
- **C.12 - Maturity Date (WAL):** 2025-12-01
- **C.13 - Final Legal Maturity Date:** 2025-12-01
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** No

- **Is Tri-party?:** No

**Collateral:**
| Issuer Name        | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                           |
|:---|:---|:---|:---|:---|:---|:---|
| U.S. Treasury Bond | 2031-08-31      | 3.7500%  | 0.0000% | $50324000.00       | $50960913.13       | U.S. Treasuries (including strips) |

### Security 2: Federal Farm Credit Bank

- **C.1 - Title:** Federal Farm Credit Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313313QA9, C.4 - ISIN: US313313QA90, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $4597731.92
- **C.18.a - Value (excl. sponsor support):** $4597731.92
- **C.19 - Percentage of Net Assets:** 1.7500%
- **C.17 - Yield as of Reporting Date:** 3.5500%
- **C.11 - Maturity Date (WAM):** 2025-12-03
- **C.12 - Maturity Date (WAL):** 2025-12-03
- **C.13 - Final Legal Maturity Date:** 2025-12-03
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 3: Federal Farm Credit Bank

- **C.1 - Title:** Federal Farm Credit Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313313QZ4, C.4 - ISIN: US313313QZ42, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $6930810.29
- **C.18.a - Value (excl. sponsor support):** $6930810.29
- **C.19 - Percentage of Net Assets:** 2.6400%
- **C.17 - Yield as of Reporting Date:** 3.5500%
- **C.11 - Maturity Date (WAM):** 2025-12-26
- **C.12 - Maturity Date (WAL):** 2025-12-26
- **C.13 - Final Legal Maturity Date:** 2025-12-26
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 4: Federal Farm Credit Bank

- **C.1 - Title:** Federal Farm Credit Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313313ST6, C.4 - ISIN: US313313ST63, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $6453425.68
- **C.18.a - Value (excl. sponsor support):** $6453425.68
- **C.19 - Percentage of Net Assets:** 2.4600%
- **C.17 - Yield as of Reporting Date:** 3.6900%
- **C.11 - Maturity Date (WAM):** 2026-02-06
- **C.12 - Maturity Date (WAL):** 2026-02-06
- **C.13 - Final Legal Maturity Date:** 2026-02-06
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 5: Federal Farm Credit Bank

- **C.1 - Title:** Federal Farm Credit Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313313TW8, C.4 - ISIN: US313313TW83, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $5395960.20
- **C.18.a - Value (excl. sponsor support):** $5395960.20
- **C.19 - Percentage of Net Assets:** 2.0500%
- **C.17 - Yield as of Reporting Date:** 3.6800%
- **C.11 - Maturity Date (WAM):** 2026-03-05
- **C.12 - Maturity Date (WAL):** 2026-03-05
- **C.13 - Final Legal Maturity Date:** 2026-03-05
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 6: Federal Farm Credit Bank

- **C.1 - Title:** Federal Farm Credit Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313313VU9, C.4 - ISIN: US313313VU99, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $5913365.82
- **C.18.a - Value (excl. sponsor support):** $5913365.82
- **C.19 - Percentage of Net Assets:** 2.2500%
- **C.17 - Yield as of Reporting Date:** 3.6400%
- **C.11 - Maturity Date (WAM):** 2026-04-20
- **C.12 - Maturity Date (WAL):** 2026-04-20
- **C.13 - Final Legal Maturity Date:** 2026-04-20
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 7: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385QK5, C.4 - ISIN: US313385QK59, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $6091578.58
- **C.18.a - Value (excl. sponsor support):** $6091578.58
- **C.19 - Percentage of Net Assets:** 2.3200%
- **C.17 - Yield as of Reporting Date:** 3.5500%
- **C.11 - Maturity Date (WAM):** 2025-12-12
- **C.12 - Maturity Date (WAL):** 2025-12-12
- **C.13 - Final Legal Maturity Date:** 2025-12-12
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 8: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385QZ2, C.4 - ISIN: US313385QZ29, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $7678739.45
- **C.18.a - Value (excl. sponsor support):** $7678739.45
- **C.19 - Percentage of Net Assets:** 2.9200%
- **C.17 - Yield as of Reporting Date:** 3.5500%
- **C.11 - Maturity Date (WAM):** 2025-12-26
- **C.12 - Maturity Date (WAL):** 2025-12-26
- **C.13 - Final Legal Maturity Date:** 2025-12-26
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 9: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385RS7, C.4 - ISIN: US313385RS76, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $12791773.44
- **C.18.a - Value (excl. sponsor support):** $12791773.44
- **C.19 - Percentage of Net Assets:** 4.8700%
- **C.17 - Yield as of Reporting Date:** 3.6300%
- **C.11 - Maturity Date (WAM):** 2026-01-12
- **C.12 - Maturity Date (WAL):** 2026-01-12
- **C.13 - Final Legal Maturity Date:** 2026-01-12
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 10: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385ST4, C.4 - ISIN: US313385ST41, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $13403268.72
- **C.18.a - Value (excl. sponsor support):** $13403268.72
- **C.19 - Percentage of Net Assets:** 5.1000%
- **C.17 - Yield as of Reporting Date:** 3.6900%
- **C.11 - Maturity Date (WAM):** 2026-02-06
- **C.12 - Maturity Date (WAL):** 2026-02-06
- **C.13 - Final Legal Maturity Date:** 2026-02-06
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 11: Federal Home Loan Mortgage Corp.

- **C.1 - Title:** Federal Home Loan Mortgage Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313397SA0, C.4 - ISIN: US313397SA06, C.3 - LEI: S6XOOCT0IEG5ABCC6L87
- **C.18 - Value (incl. sponsor support):** $7161574.97
- **C.18.a - Value (excl. sponsor support):** $7161574.97
- **C.19 - Percentage of Net Assets:** 2.7200%
- **C.17 - Yield as of Reporting Date:** 3.6300%
- **C.11 - Maturity Date (WAM):** 2026-01-20
- **C.12 - Maturity Date (WAL):** 2026-01-20
- **C.13 - Final Legal Maturity Date:** 2026-01-20
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 12: Federal Home Loan Mortgage Corp.

- **C.1 - Title:** Federal Home Loan Mortgage Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313397SG7, C.4 - ISIN: US313397SG75, C.3 - LEI: S6XOOCT0IEG5ABCC6L87
- **C.18 - Value (incl. sponsor support):** $7952472.24
- **C.18.a - Value (excl. sponsor support):** $7952472.24
- **C.19 - Percentage of Net Assets:** 3.0300%
- **C.17 - Yield as of Reporting Date:** 3.6300%
- **C.11 - Maturity Date (WAM):** 2026-01-26
- **C.12 - Maturity Date (WAL):** 2026-01-26
- **C.13 - Final Legal Maturity Date:** 2026-01-26
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 13: Federal National Mortgage Assoc.

- **C.1 - Title:** Federal National Mortgage Assoc.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313589PZ0, C.4 - ISIN: US313589PZ08, C.3 - LEI: B1V7KEBTPIMZEU4LTD58
- **C.18 - Value (incl. sponsor support):** $7197160.03
- **C.18.a - Value (excl. sponsor support):** $7197160.03
- **C.19 - Percentage of Net Assets:** 2.7400%
- **C.17 - Yield as of Reporting Date:** 3.5500%
- **C.11 - Maturity Date (WAM):** 2025-12-02
- **C.12 - Maturity Date (WAL):** 2025-12-02
- **C.13 - Final Legal Maturity Date:** 2025-12-02
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 14: Federal National Mortgage Assoc.

- **C.1 - Title:** Federal National Mortgage Assoc.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313589QN6, C.4 - ISIN: US313589QN68, C.3 - LEI: B1V7KEBTPIMZEU4LTD58
- **C.18 - Value (incl. sponsor support):** $7737007.98
- **C.18.a - Value (excl. sponsor support):** $7737007.98
- **C.19 - Percentage of Net Assets:** 2.9400%
- **C.17 - Yield as of Reporting Date:** 3.5500%
- **C.11 - Maturity Date (WAM):** 2025-12-15
- **C.12 - Maturity Date (WAL):** 2025-12-15
- **C.13 - Final Legal Maturity Date:** 2025-12-15
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 15: Fixed Income Clearing Corp. - State Street Bank & Trust Co.

- **C.1 - Title:** Fixed Income Clearing Corp. - State Street Bank & Trust Co. 4.050000%
- **C.6 - Investment Category:** U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash
- **Identifiers:** C.3 - CUSIP: 85748R009, C.3 - LEI: 549300H47WTHXPU08X20, C.5 - Other ID: 85748R009_4.05_1201
- **C.18 - Value (incl. sponsor support):** $49854640.00
- **C.18.a - Value (excl. sponsor support):** $49854640.00
- **C.19 - Percentage of Net Assets:** 18.9700%
- **C.17 - Yield as of Reporting Date:** 4.0500%
- **C.11 - Maturity Date (WAM):** 2025-12-01
- **C.12 - Maturity Date (WAL):** 2025-12-01
- **C.13 - Final Legal Maturity Date:** 2025-12-01
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** Yes

- **Name of CCP:** Fixed Income Clearing Corp.

- **Is Tri-party?:** No

**Collateral:**
| Issuer Name        | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                           |
|:---|:---|:---|:---|:---|:---|:---|
| U.S. Treasury Bond | 2045-02-15      | 4.7500%  | 0.0000% | $49197200.00       | $50851780.06       | U.S. Treasuries (including strips) |

### Security 16: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797NU7, C.4 - ISIN: US912797NU77, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $6432565.26
- **C.18.a - Value (excl. sponsor support):** $6432565.26
- **C.19 - Percentage of Net Assets:** 2.4500%
- **C.17 - Yield as of Reporting Date:** 3.9600%
- **C.11 - Maturity Date (WAM):** 2025-12-26
- **C.12 - Maturity Date (WAL):** 2025-12-26
- **C.13 - Final Legal Maturity Date:** 2025-12-26
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 17: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797PV3, C.4 - ISIN: US912797PV33, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $8504441.10
- **C.18.a - Value (excl. sponsor support):** $8504441.10
- **C.19 - Percentage of Net Assets:** 3.2400%
- **C.17 - Yield as of Reporting Date:** 3.8000%
- **C.11 - Maturity Date (WAM):** 2026-03-19
- **C.12 - Maturity Date (WAL):** 2026-03-19
- **C.13 - Final Legal Maturity Date:** 2026-03-19
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 18: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797QS9, C.4 - ISIN: US912797QS94, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $14295388.25
- **C.18.a - Value (excl. sponsor support):** $14295388.25
- **C.19 - Percentage of Net Assets:** 5.4400%
- **C.17 - Yield as of Reporting Date:** 3.9300%
- **C.11 - Maturity Date (WAM):** 2025-12-04
- **C.12 - Maturity Date (WAL):** 2025-12-04
- **C.13 - Final Legal Maturity Date:** 2025-12-04
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 19: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797RJ8, C.4 - ISIN: US912797RJ86, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $8409924.52
- **C.18.a - Value (excl. sponsor support):** $8409924.52
- **C.19 - Percentage of Net Assets:** 3.2000%
- **C.17 - Yield as of Reporting Date:** 3.8700%
- **C.11 - Maturity Date (WAM):** 2026-01-15
- **C.12 - Maturity Date (WAL):** 2026-01-15
- **C.13 - Final Legal Maturity Date:** 2026-01-15
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 20: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797RW9, C.4 - ISIN: US912797RW97, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $8392738.28
- **C.18.a - Value (excl. sponsor support):** $8392738.28
- **C.19 - Percentage of Net Assets:** 3.1900%
- **C.17 - Yield as of Reporting Date:** 3.9500%
- **C.11 - Maturity Date (WAM):** 2025-12-09
- **C.12 - Maturity Date (WAL):** 2025-12-09
- **C.13 - Final Legal Maturity Date:** 2025-12-09
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 21: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797SS7, C.4 - ISIN: US912797SS76, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $6245161.46
- **C.18.a - Value (excl. sponsor support):** $6245161.46
- **C.19 - Percentage of Net Assets:** 2.3800%
- **C.17 - Yield as of Reporting Date:** 3.7700%
- **C.11 - Maturity Date (WAM):** 2026-02-24
- **C.12 - Maturity Date (WAL):** 2026-02-24
- **C.13 - Final Legal Maturity Date:** 2026-02-24
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 22: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797SY4, C.4 - ISIN: US912797SY45, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $11184907.47
- **C.18.a - Value (excl. sponsor support):** $11184907.47
- **C.19 - Percentage of Net Assets:** 4.2500%
- **C.17 - Yield as of Reporting Date:** 3.7900%
- **C.11 - Maturity Date (WAM):** 2026-03-10
- **C.12 - Maturity Date (WAL):** 2026-03-10
- **C.13 - Final Legal Maturity Date:** 2026-03-10
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

## N-MFP: Signatures

**Registrant:** MFS VARIABLE INSURANCE TRUST II

**Date:** 2025-12-05

**By:** James Byrne

**Name of Signing Officer:** James Byrne

**Title of Signing Officer:** Assistant Treasurer