# EDGAR Filing Document

**Accession Number:** 0000719269
**File Stem:** 0001145549-25-057932
**Filing Date:** 2025-9
**Character Count:** 37725
**Document Hash:** 80a7c806de6a2ca012e8483a28757154
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-057932.hdr.sgml**: 20250908

**ACCESSION NUMBER**: 0001145549-25-057932

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20250908

**DATE AS OF CHANGE**: 20250908

**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:** 251299016

**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):** 2025-08-31

**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:** 30 days

- **WAL:** 30 days

- **Total Value of Portfolio Securities:** $263008135.62

- **Amortized Cost of Portfolio Securities:** $263024229.33

- **Cash:** $1.74

- **Total Other Assets:** $237966.96

- **Total Liabilities:** $919981.13

- **Net Assets of Series:** $262342216.90

- **Number of Shares Outstanding (Series):** 262532222.5900

- **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 (%)   |
|:---|:---|:---|:---|:---|
| 2025-08-01 | $140792081.73             | $204967897.48              | 52.4100%                  | 76.3000%                   |
| 2025-08-04 | $140574949.59             | $211677493.44              | 52.4100%                  | 78.9200%                   |
| 2025-08-05 | $139776186.09             | $210887230.23              | 52.2700%                  | 78.8600%                   |
| 2025-08-06 | $146034910.36             | $209904939.06              | 54.7600%                  | 78.7100%                   |
| 2025-08-07 | $154223963.78             | $221125383.69              | 57.8300%                  | 82.9100%                   |
| 2025-08-08 | $154068165.32             | $220977695.59              | 57.8000%                  | 82.9000%                   |
| 2025-08-11 | $146774687.22             | $213707600.70              | 55.0100%                  | 80.1000%                   |
| 2025-08-12 | $147096604.79             | $214038309.09              | 55.1300%                  | 80.2100%                   |
| 2025-08-13 | $139091405.87             | $214010300.65              | 52.0700%                  | 80.1100%                   |
| 2025-08-14 | $154677583.99             | $214357268.38              | 57.9000%                  | 80.2300%                   |
| 2025-08-15 | $154620620.50             | $214306782.85              | 57.8700%                  | 80.2100%                   |
| 2025-08-18 | $154392892.75             | $214100140.70              | 57.8400%                  | 80.2100%                   |
| 2025-08-19 | $154359130.51             | $214073536.55              | 57.8300%                  | 80.2000%                   |
| 2025-08-20 | $154017567.66             | $213739028.86              | 57.7700%                  | 80.1700%                   |
| 2025-08-21 | $153806907.43             | $231409449.45              | 57.7400%                  | 86.8700%                   |
| 2025-08-22 | $151217669.52             | $228832384.15              | 57.3000%                  | 86.7100%                   |
| 2025-08-25 | $151297884.08             | $240754869.96              | 57.3300%                  | 91.2200%                   |
| 2025-08-26 | $150973430.27             | $233442133.32              | 57.2400%                  | 88.5100%                   |
| 2025-08-27 | $144441692.17             | $226919985.29              | 54.8700%                  | 86.2000%                   |
| 2025-08-28 | $147693336.99             | $222189707.32              | 56.1000%                  | 84.3900%                   |
| 2025-08-29 | $147633795.81             | $222133720.07              | 56.0800%                  | 84.3800%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-08-01 | 4.3300%             |
| 2025-08-04 | 4.3300%             |
| 2025-08-05 | 4.3300%             |
| 2025-08-06 | 4.3300%             |
| 2025-08-07 | 4.3200%             |
| 2025-08-08 | 4.3300%             |
| 2025-08-11 | 4.3300%             |
| 2025-08-12 | 4.3300%             |
| 2025-08-13 | 4.3300%             |
| 2025-08-14 | 4.3200%             |
| 2025-08-15 | 4.3300%             |
| 2025-08-18 | 4.3300%             |
| 2025-08-19 | 4.3300%             |
| 2025-08-20 | 4.3300%             |
| 2025-08-21 | 4.3300%             |
| 2025-08-22 | 4.3300%             |
| 2025-08-25 | 4.3300%             |
| 2025-08-26 | 4.3300%             |
| 2025-08-27 | 4.3400%             |
| 2025-08-28 | 4.3300%             |
| 2025-08-29 | 4.3200%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-08-01 | 0.9991                      |
|  |  |
| 2025-08-04 | 0.9993                      |
|  |  |
| 2025-08-05 | 0.9993                      |
|  |  |
| 2025-08-06 | 0.9993                      |
|  |  |
| 2025-08-07 | 0.9993                      |
|  |  |
| 2025-08-08 | 0.9992                      |
|  |  |
| 2025-08-11 | 0.9993                      |
|  |  |
| 2025-08-12 | 0.9993                      |
|  |  |
| 2025-08-13 | 0.9993                      |
|  |  |
| 2025-08-14 | 0.9993                      |
|  |  |
| 2025-08-15 | 0.9992                      |
|  |  |
| 2025-08-18 | 0.9993                      |
|  |  |
| 2025-08-19 | 0.9993                      |
|  |  |
| 2025-08-20 | 0.9993                      |
|  |  |
| 2025-08-21 | 0.9993                      |
|  |  |
| 2025-08-22 | 0.9992                      |
|  |  |
| 2025-08-25 | 0.9993                      |
|  |  |
| 2025-08-26 | 0.9993                      |
|  |  |
| 2025-08-27 | 0.9993                      |
|  |  |
| 2025-08-28 | 0.9993                      |
|  |  |
| 2025-08-29 | 0.9992                      |
|  |  |

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

### Class: Initial Class

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $172066363.35

- **Number of Shares Outstanding:** 172190822.1900

- **Expense Reimbursement/Waiver:** 2079.00

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-08-01 | 0.9991          |
|  |  |
| 2025-08-04 | 0.9993          |
|  |  |
| 2025-08-05 | 0.9993          |
|  |  |
| 2025-08-06 | 0.9993          |
|  |  |
| 2025-08-07 | 0.9993          |
|  |  |
| 2025-08-08 | 0.9992          |
|  |  |
| 2025-08-11 | 0.9993          |
|  |  |
| 2025-08-12 | 0.9993          |
|  |  |
| 2025-08-13 | 0.9993          |
|  |  |
| 2025-08-14 | 0.9993          |
|  |  |
| 2025-08-15 | 0.9992          |
|  |  |
| 2025-08-18 | 0.9993          |
|  |  |
| 2025-08-19 | 0.9993          |
|  |  |
| 2025-08-20 | 0.9993          |
|  |  |
| 2025-08-21 | 0.9993          |
|  |  |
| 2025-08-22 | 0.9992          |
|  |  |
| 2025-08-25 | 0.9993          |
|  |  |
| 2025-08-26 | 0.9993          |
|  |  |
| 2025-08-27 | 0.9993          |
|  |  |
| 2025-08-28 | 0.9993          |
|  |  |
| 2025-08-29 | 0.9992          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-08-01 | $583877.01                | $437614.47              |
| 2025-08-04 | $0.00                     | $504650.70              |
| 2025-08-05 | $0.00                     | $980563.26              |
| 2025-08-06 | $216277.05                | $2025.88                |
| 2025-08-07 | $125327.01                | $93586.66               |
| 2025-08-08 | $7748.89                  | $105023.67              |
| 2025-08-11 | $0.00                     | $11371.92               |
| 2025-08-12 | $0.00                     | $12881.82               |
| 2025-08-13 | $135623.45                | $1751.62                |
| 2025-08-14 | $3304.14                  | $60939.53               |
| 2025-08-15 | $132.52                   | $211071.71              |
| 2025-08-18 | $0.00                     | $6890.03                |
| 2025-08-19 | $350.95                   | $247716.38              |
| 2025-08-20 | $9887.30                  | $0.00                   |
| 2025-08-21 | $5245.94                  | $2602344.15             |
| 2025-08-22 | $626.13                   | $6505.05                |
| 2025-08-25 | $3978.65                  | $151111.10              |
| 2025-08-26 | $357.96                   | $202041.43              |
| 2025-08-27 | $519.05                   | $98506.22               |
| 2025-08-28 | $35220.52                 | $5.59                   |
| 2025-08-29 | $159948.47                | $25724.01               |

**Total Gross Subscriptions (Month):** $1288425.04

**Total Gross Redemptions (Month):** $5762325.20

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-08-01 | 3.8800%           |
| 2025-08-04 | 3.8800%           |
| 2025-08-05 | 3.8800%           |
| 2025-08-06 | 3.8800%           |
| 2025-08-07 | 3.8700%           |
| 2025-08-08 | 3.8800%           |
| 2025-08-11 | 3.8800%           |
| 2025-08-12 | 3.8800%           |
| 2025-08-13 | 3.8800%           |
| 2025-08-14 | 3.8800%           |
| 2025-08-15 | 3.8800%           |
| 2025-08-18 | 3.8800%           |
| 2025-08-19 | 3.8800%           |
| 2025-08-20 | 3.8800%           |
| 2025-08-21 | 3.8800%           |
| 2025-08-22 | 3.8800%           |
| 2025-08-25 | 3.8800%           |
| 2025-08-26 | 3.8800%           |
| 2025-08-27 | 3.8800%           |
| 2025-08-28 | 3.8800%           |
| 2025-08-29 | 3.8700%           |

**Beneficial/Record Owner Categories**
| Category          | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Insurance company |  | 66.7100%         | 0.0000%              |
| Insurance company |  | 6.9100%          | 0.0000%              |
| Insurance company |  | 22.2100%         | 0.0000%              |

### Class: Service Class

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $90275853.55

- **Number of Shares Outstanding:** 90341400.4000

- **Expense Reimbursement/Waiver:** 20372.00

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-08-01 | 0.9991          |
|  |  |
| 2025-08-04 | 0.9993          |
|  |  |
| 2025-08-05 | 0.9993          |
|  |  |
| 2025-08-06 | 0.9993          |
|  |  |
| 2025-08-07 | 0.9993          |
|  |  |
| 2025-08-08 | 0.9992          |
|  |  |
| 2025-08-11 | 0.9993          |
|  |  |
| 2025-08-12 | 0.9993          |
|  |  |
| 2025-08-13 | 0.9993          |
|  |  |
| 2025-08-14 | 0.9993          |
|  |  |
| 2025-08-15 | 0.9992          |
|  |  |
| 2025-08-18 | 0.9993          |
|  |  |
| 2025-08-19 | 0.9993          |
|  |  |
| 2025-08-20 | 0.9993          |
|  |  |
| 2025-08-21 | 0.9993          |
|  |  |
| 2025-08-22 | 0.9992          |
|  |  |
| 2025-08-25 | 0.9993          |
|  |  |
| 2025-08-26 | 0.9993          |
|  |  |
| 2025-08-27 | 0.9993          |
|  |  |
| 2025-08-28 | 0.9993          |
|  |  |
| 2025-08-29 | 0.9992          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-08-01 | $479622.12                | $0.00                   |
| 2025-08-04 | $428.75                   | $311875.38              |
| 2025-08-05 | $0.00                     | $26000.84               |
| 2025-08-06 | $3779.54                  | $45700.98               |
| 2025-08-07 | $508.36                   | $220883.55              |
| 2025-08-08 | $0.00                     | $6189.47                |
| 2025-08-11 | $315252.83                | $0.00                   |
| 2025-08-12 | $1163.71                  | $42605.72               |
| 2025-08-13 | $188038.65                | $0.00                   |
| 2025-08-14 | $227.92                   | $31763.15               |
| 2025-08-15 | $932.36                   | $59038.78               |
| 2025-08-18 | $1050.35                  | $46388.08               |
| 2025-08-19 | $0.00                     | $94307.61               |
| 2025-08-20 | $2947.08                  | $239422.34              |
| 2025-08-21 | $60049.36                 | $84882.58               |
| 2025-08-22 | $45773.28                 | $0.00                   |
| 2025-08-25 | $816.45                   | $74918.18               |
| 2025-08-26 | $0.00                     | $322037.02              |
| 2025-08-27 | $918.12                   | $32431.10               |
| 2025-08-28 | $58.56                    | $134102.78              |
| 2025-08-29 | $71881.58                 | $0.00                   |

**Total Gross Subscriptions (Month):** $1173449.02

**Total Gross Redemptions (Month):** $1772547.56

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-08-01 | 3.8800%           |
| 2025-08-04 | 3.8800%           |
| 2025-08-05 | 3.8800%           |
| 2025-08-06 | 3.8800%           |
| 2025-08-07 | 3.8700%           |
| 2025-08-08 | 3.8800%           |
| 2025-08-11 | 3.8800%           |
| 2025-08-12 | 3.8800%           |
| 2025-08-13 | 3.8800%           |
| 2025-08-14 | 3.8800%           |
| 2025-08-15 | 3.8800%           |
| 2025-08-18 | 3.8800%           |
| 2025-08-19 | 3.8800%           |
| 2025-08-20 | 3.8800%           |
| 2025-08-21 | 3.8800%           |
| 2025-08-22 | 3.8800%           |
| 2025-08-25 | 3.8800%           |
| 2025-08-26 | 3.8800%           |
| 2025-08-27 | 3.8800%           |
| 2025-08-28 | 3.8800%           |
| 2025-08-29 | 3.8700%           |

**Beneficial/Record Owner Categories**
| Category          | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Insurance company |  | 5.2500%          | 0.0000%              |
| Insurance company |  | 90.2300%         | 0.0000%              |

## Part C: Schedule of Portfolio Securities

### Security 1: Bank of America NA

- **C.1 - Title:** Bank of America NA 4.320000%
- **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_4.32_0902
- **C.18 - Value (incl. sponsor support):** $43674000.00
- **C.18.a - Value (excl. sponsor support):** $43674000.00
- **C.19 - Percentage of Net Assets:** 16.6500%
- **C.17 - Yield as of Reporting Date:** 4.3200%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2025-09-02
- **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? 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 | 2043-05-15      | 3.8750%  | 0.0000% | $49636000.00       | $44548310.00       | 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: 313313LF3, C.4 - ISIN: US313313LF33, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $7445654.19
- **C.18.a - Value (excl. sponsor support):** $7445654.19
- **C.19 - Percentage of Net Assets:** 2.8400%
- **C.17 - Yield as of Reporting Date:** 4.2000%
- **C.11 - Maturity Date (WAM):** 2025-09-03
- **C.12 - Maturity Date (WAL):** 2025-09-03
- **C.13 - Final Legal Maturity Date:** 2025-09-03
- **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: 313313ML9, C.4 - ISIN: US313313ML91, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $6923088.07
- **C.18.a - Value (excl. sponsor support):** $6923088.07
- **C.19 - Percentage of Net Assets:** 2.6400%
- **C.17 - Yield as of Reporting Date:** 4.1000%
- **C.11 - Maturity Date (WAM):** 2025-10-02
- **C.12 - Maturity Date (WAL):** 2025-10-02
- **C.13 - Final Legal Maturity Date:** 2025-10-02
- **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 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: 313313QA9, C.4 - ISIN: US313313QA90, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $4551117.32
- **C.18.a - Value (excl. sponsor support):** $4551117.32
- **C.19 - Percentage of Net Assets:** 1.7300%
- **C.17 - Yield as of Reporting Date:** 3.9900%
- **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? No, C.23 Categorized at Level 3? No

### Security 5: 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: 313385LM6, C.4 - ISIN: US313385LM60, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $6941080.86
- **C.18.a - Value (excl. sponsor support):** $6941080.86
- **C.19 - Percentage of Net Assets:** 2.6500%
- **C.17 - Yield as of Reporting Date:** 4.2000%
- **C.11 - Maturity Date (WAM):** 2025-09-09
- **C.12 - Maturity Date (WAL):** 2025-09-09
- **C.13 - Final Legal Maturity Date:** 2025-09-09
- **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? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 6: 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: 313385MC7, C.4 - ISIN: US313385MC79, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $4436501.68
- **C.18.a - Value (excl. sponsor support):** $4436501.68
- **C.19 - Percentage of Net Assets:** 1.6900%
- **C.17 - Yield as of Reporting Date:** 4.2000%
- **C.11 - Maturity Date (WAM):** 2025-09-24
- **C.12 - Maturity Date (WAL):** 2025-09-24
- **C.13 - Final Legal Maturity Date:** 2025-09-24
- **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? No, C.21 Is a Weekly Liquid Asset? Yes, 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: 313385MQ6, C.4 - ISIN: US313385MQ65, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $11051961.64
- **C.18.a - Value (excl. sponsor support):** $11051961.64
- **C.19 - Percentage of Net Assets:** 4.2100%
- **C.17 - Yield as of Reporting Date:** 4.1000%
- **C.11 - Maturity Date (WAM):** 2025-10-06
- **C.12 - Maturity Date (WAL):** 2025-10-06
- **C.13 - Final Legal Maturity Date:** 2025-10-06
- **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? 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: 313385NE2, C.4 - ISIN: US313385NE27, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $6958544.46
- **C.18.a - Value (excl. sponsor support):** $6958544.46
- **C.19 - Percentage of Net Assets:** 2.6500%
- **C.17 - Yield as of Reporting Date:** 4.1000%
- **C.11 - Maturity Date (WAM):** 2025-10-20
- **C.12 - Maturity Date (WAL):** 2025-10-20
- **C.13 - Final Legal Maturity Date:** 2025-10-20
- **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 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: 313385NJ1, C.4 - ISIN: US313385NJ14, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $11824104.42
- **C.18.a - Value (excl. sponsor support):** $11824104.42
- **C.19 - Percentage of Net Assets:** 4.5100%
- **C.17 - Yield as of Reporting Date:** 4.1000%
- **C.11 - Maturity Date (WAM):** 2025-10-24
- **C.12 - Maturity Date (WAL):** 2025-10-24
- **C.13 - Final Legal Maturity Date:** 2025-10-24
- **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? 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: 313385NR3, C.4 - ISIN: US313385NR30, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $7247622.50
- **C.18.a - Value (excl. sponsor support):** $7247622.50
- **C.19 - Percentage of Net Assets:** 2.7600%
- **C.17 - Yield as of Reporting Date:** 4.1000%
- **C.11 - Maturity Date (WAM):** 2025-10-31
- **C.12 - Maturity Date (WAL):** 2025-10-31
- **C.13 - Final Legal Maturity Date:** 2025-10-31
- **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 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: 313385PD2, C.4 - ISIN: US313385PD26, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $8825184.38
- **C.18.a - Value (excl. sponsor support):** $8825184.38
- **C.19 - Percentage of Net Assets:** 3.3600%
- **C.17 - Yield as of Reporting Date:** 4.0400%
- **C.11 - Maturity Date (WAM):** 2025-11-12
- **C.12 - Maturity Date (WAL):** 2025-11-12
- **C.13 - Final Legal Maturity Date:** 2025-11-12
- **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? No, C.23 Categorized at Level 3? No

### Security 12: 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):** $6029100.19
- **C.18.a - Value (excl. sponsor support):** $6029100.19
- **C.19 - Percentage of Net Assets:** 2.3000%
- **C.17 - Yield as of Reporting Date:** 3.9900%
- **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? No, C.23 Categorized at Level 3? No

### Security 13: 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: 313397NE7, C.4 - ISIN: US313397NE72, C.3 - LEI: S6XOOCT0IEG5ABCC6L87
- **C.18 - Value (incl. sponsor support):** $10934855.58
- **C.18.a - Value (excl. sponsor support):** $10934855.58
- **C.19 - Percentage of Net Assets:** 4.1700%
- **C.17 - Yield as of Reporting Date:** 4.1000%
- **C.11 - Maturity Date (WAM):** 2025-10-20
- **C.12 - Maturity Date (WAL):** 2025-10-20
- **C.13 - Final Legal Maturity Date:** 2025-10-20
- **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 14: 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: 313397NU1, C.4 - ISIN: US313397NU15, C.3 - LEI: S6XOOCT0IEG5ABCC6L87
- **C.18 - Value (incl. sponsor support):** $7097107.88
- **C.18.a - Value (excl. sponsor support):** $7097107.88
- **C.19 - Percentage of Net Assets:** 2.7100%
- **C.17 - Yield as of Reporting Date:** 4.0400%
- **C.11 - Maturity Date (WAM):** 2025-11-03
- **C.12 - Maturity Date (WAL):** 2025-11-03
- **C.13 - Final Legal Maturity Date:** 2025-11-03
- **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? No, C.23 Categorized at Level 3? No

### Security 15: 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: 313589LT8, C.4 - ISIN: US313589LT83, C.3 - LEI: B1V7KEBTPIMZEU4LTD58
- **C.18 - Value (incl. sponsor support):** $7984133.36
- **C.18.a - Value (excl. sponsor support):** $7984133.36
- **C.19 - Percentage of Net Assets:** 3.0400%
- **C.17 - Yield as of Reporting Date:** 4.2000%
- **C.11 - Maturity Date (WAM):** 2025-09-15
- **C.12 - Maturity Date (WAL):** 2025-09-15
- **C.13 - Final Legal Maturity Date:** 2025-09-15
- **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 16: 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):** $7124285.02
- **C.18.a - Value (excl. sponsor support):** $7124285.02
- **C.19 - Percentage of Net Assets:** 2.7200%
- **C.17 - Yield as of Reporting Date:** 3.9900%
- **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? No, C.23 Categorized at Level 3? No

### Security 17: Fixed Income Clearing Corp. - State Street Bank & Trust Co.

- **C.1 - Title:** Fixed Income Clearing Corp. - State Street Bank & Trust Co. 4.300000%
- **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_4.30_0902
- **C.18 - Value (incl. sponsor support):** $43673378.00
- **C.18.a - Value (excl. sponsor support):** $43673378.00
- **C.19 - Percentage of Net Assets:** 16.6500%
- **C.17 - Yield as of Reporting Date:** 4.3000%
- **C.11 - Maturity Date (WAM):** 2025-09-02
- **C.12 - Maturity Date (WAL):** 2025-09-02
- **C.13 - Final Legal Maturity Date:** 2025-09-02
- **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? 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 Inflation Indexed Notes | 2028-04-15      | 1.2500%  | 0.0000% | $40943500.00       | $44547033.24       | U.S. Treasuries (including strips) |

### 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: 912797PW1, C.4 - ISIN: US912797PW16, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $11687612.63
- **C.18.a - Value (excl. sponsor support):** $11687612.63
- **C.19 - Percentage of Net Assets:** 4.4600%
- **C.17 - Yield as of Reporting Date:** 4.3000%
- **C.11 - Maturity Date (WAM):** 2025-09-11
- **C.12 - Maturity Date (WAL):** 2025-09-11
- **C.13 - Final Legal Maturity Date:** 2025-09-11
- **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: 912797QE0, C.4 - ISIN: US912797QE09, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $11201491.80
- **C.18.a - Value (excl. sponsor support):** $11201491.80
- **C.19 - Percentage of Net Assets:** 4.2700%
- **C.17 - Yield as of Reporting Date:** 4.2700%
- **C.11 - Maturity Date (WAM):** 2025-10-09
- **C.12 - Maturity Date (WAL):** 2025-10-09
- **C.13 - Final Legal Maturity Date:** 2025-10-09
- **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 20: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797QU4, C.4 - ISIN: US912797QU41, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $20665706.94
- **C.18.a - Value (excl. sponsor support):** $20665706.94
- **C.19 - Percentage of Net Assets:** 7.8800%
- **C.17 - Yield as of Reporting Date:** 4.3300%
- **C.11 - Maturity Date (WAM):** 2025-09-16
- **C.12 - Maturity Date (WAL):** 2025-09-16
- **C.13 - Final Legal Maturity Date:** 2025-09-16
- **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: 912797QW0, C.4 - ISIN: US912797QW07, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $8471935.81
- **C.18.a - Value (excl. sponsor support):** $8471935.81
- **C.19 - Percentage of Net Assets:** 3.2300%
- **C.17 - Yield as of Reporting Date:** 4.3200%
- **C.11 - Maturity Date (WAM):** 2025-09-30
- **C.12 - Maturity Date (WAL):** 2025-09-30
- **C.13 - Final Legal Maturity Date:** 2025-09-30
- **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: 912797RC3, C.4 - ISIN: US912797RC34, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $8259668.89
- **C.18.a - Value (excl. sponsor support):** $8259668.89
- **C.19 - Percentage of Net Assets:** 3.1500%
- **C.17 - Yield as of Reporting Date:** 4.2400%
- **C.11 - Maturity Date (WAM):** 2025-10-14
- **C.12 - Maturity Date (WAL):** 2025-10-14
- **C.13 - Final Legal Maturity Date:** 2025-10-14
- **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:** 2025-09-08

**By:** James Byrne

**Name of Signing Officer:** James Byrne

**Title of Signing Officer:** Assistant Treasurer