# EDGAR Filing Document

**Accession Number:** 0001065698
**File Stem:** 0001752724-23-037814
**Filing Date:** 2023-2
**Character Count:** 45423
**Document Hash:** 12475c224ee6d1a02562c4fa1903925d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-037814.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001752724-23-037814

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20221231

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08879
- **FILM NUMBER:** 23663358

**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 New Discovery Value Portfolio (Series ID: S000023374)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000068446 | Initial Class |  |
| C000068447 | 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 New Discovery Value Portfolio

- **b. EDGAR series identifier (if any):** S000023374

- **c. LEI of Series:** 549300X8U0YDKOFKNA72

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $46074898.96

**Total Liabilities:** $209968.79

**Net Assets:** $45864930.17

**Cash Not Reported:** $15007.74

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000068447 | 11.87%               | 5.43%                | -4.17%               |
| Class ID C000068446 | 11.84%               | 5.61%                | -4.23%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $135695.27               | $4795004.61                                |
| Month 2  | $116604.91               | $2342765.90                                |
| Month 3  | $194096.54               | $-2198847.39                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Zumiez Inc                               | Zumiez Inc                                                                  | CUSIP: 989817101<br>LEI: 549300J0PDF58P6HZD25 | Long             | EC               | CORP              | US        |     14058 | NS      | $305620.92    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Plexus Corp                              | Plexus Corp                                                                 | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |      3923 | NS      | $403794.39    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| First Interstate BancSystem Inc          | First Interstate BancSystem Inc                                             | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |     13532 | NS      | $523011.80    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Plains GP Holdings LP                    | Plains GP Holdings LP                                                       | CUSIP: 72651A207<br>LEI: 549300O56BSKRD8FAM12 | Long             | EC               | CORP              | US        |     39652 | NS      | $493270.88    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanmi Financial Corp                     | Hanmi Financial Corp                                                        | CUSIP: 410495204<br>LEI: 549300MSZ7RCG7EA6587 | Long             | EC               | CORP              | US        |     15385 | NS      | $380778.75    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Ardagh Metal Packaging SA                | Ardagh Metal Packaging SA                                                   | CUSIP: 000000000<br>LEI: 5493009WKQTU4FN9G032 | Long             | EC               | CORP              | LU        |     59741 | NS      | $287354.21    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey Resources Corp                | New Jersey Resources Corp                                                   | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |      9907 | NS      | $491585.34    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Canada Goose Holdings Inc                | Canada Goose Holdings Inc                                                   | CUSIP: 135086106<br>LEI: 529900891XBE6RV8JR07 | Long             | EC               | CORP              | CA        |     17683 | NS      | $314934.23    | 0.69%             |  |  |  | No            |                  1 | On Loan: —       |
| EXPRO GROUP HOLDINGS NV                  | Expro Group Holdings NV                                                     | CUSIP: 000000000<br>LEI: 724500LJYA8QIT73H017 | Long             | EC               | CORP              | NL        |     27145 | NS      | $492138.85    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp                              | Avient Corp                                                                 | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |     14445 | NS      | $487663.20    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Prestige Consumer Healthcare Inc         | Prestige Consumer Healthcare Inc                                            | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10286 | NS      | $643903.60    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Diversey Holdings Ltd                    | Diversey Holdings Ltd                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     79823 | NS      | $340045.98    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO Inc                                  | RXO Inc                                                                     | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |     17974 | NS      | $309152.80    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Jack in the Box Inc                      | Jack in the Box Inc                                                         | CUSIP: 466367109<br>LEI: 5493002OJW26P0SUUP68 | Long             | EC               | CORP              | US        |      5101 | NS      | $348041.23    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Agiliti Inc                              | Agiliti Inc                                                                 | CUSIP: 00848J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13171 | NS      | $214819.01    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Cushman & Wakefield PLC                  | Cushman & Wakefield PLC                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     15867 | NS      | $197702.82    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC                       | nVent Electric PLC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     11781 | NS      | $453215.07    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomad Foods Ltd                          | Nomad Foods Ltd                                                             | CUSIP: 000000000<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | VG        |     33749 | NS      | $581832.76    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Re Group Ltd                     | Everest Re Group Ltd                                                        | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      1675 | NS      | $554877.25    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Methode Electronics Inc                  | Methode Electronics Inc                                                     | CUSIP: 591520200<br>LEI: 529900VM413LGLUS3F07 | Long             | EC               | CORP              | US        |     11103 | NS      | $492640.11    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors             | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857492706<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |    143945 | NS      | $143944.70    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                                  | KBR Inc                                                                     | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     11924 | NS      | $629587.20    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Arconic Corp                             | Arconic Corp                                                                | CUSIP: 03966V107<br>LEI: 549300B4YFWH3U74B152 | Long             | EC               | CORP              | US        |     16207 | NS      | $342940.12    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohu Inc                                 | Cohu Inc                                                                    | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | EC               | CORP              | US        |     10295 | NS      | $329954.75    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc                | Prosperity Bancshares Inc                                                   | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8851 | NS      | $643290.68    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminum Corp                     | Kaiser Aluminum Corp                                                        | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2603 | NS      | $197723.88    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Lease Corp                           | Air Lease Corp                                                              | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |     14384 | NS      | $552633.28    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hostess Brands Inc                       | Hostess Brands Inc                                                          | CUSIP: 44109J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14338 | NS      | $321744.72    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co             | Graphic Packaging Holding Co                                                | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22143 | NS      | $492681.75    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Axalta Coating Systems Ltd               | Axalta Coating Systems Ltd                                                  | CUSIP: 000000000<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |     16032 | NS      | $408335.04    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group Inc                  | CNO Financial Group Inc                                                     | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     18431 | NS      | $421148.35    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc                 | Phillips Edison & Co Inc                                                    | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |     18523 | NS      | $589772.32    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Premier Inc                              | Premier Inc                                                                 | CUSIP: 74051N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13300 | NS      | $465234.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp                  | Wintrust Financial Corp                                                     | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |      2963 | NS      | $250432.76    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| TaskUS Inc                               | TaskUS Inc                                                                  | CUSIP: 87652V109<br>LEI: 549300VFPOK2Y6GLWE32 | Long             | EC               | CORP              | US        |     10730 | NS      | $181337.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian Inc                       | First Hawaiian Inc                                                          | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |     17888 | NS      | $465803.52    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust Inc            | Empire State Realty Trust Inc                                               | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               | CORP              | US        |     47704 | NS      | $321524.96    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc                        | Toll Brothers Inc                                                           | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |      8758 | NS      | $437199.36    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Pactiv Evergreen Inc                     | Pactiv Evergreen Inc                                                        | CUSIP: 69526K105<br>LEI: 894500GNKGJRUSH1F791 | Long             | EC               | CORP              | US        |     15131 | NS      | $171888.16    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corp                           | ChampionX Corp                                                              | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |     17857 | NS      | $517674.43    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| WNS Holdings Ltd                         | WNS Holdings Ltd                                                            | CUSIP: 92932M101<br>LEI: 529900RM7QHUD3W9DM42 | Long             | EC               | CORP              | JE        |      3087 | NS      | $246929.13    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co                       | Vertiv Holdings Co                                                          | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     28576 | NS      | $390348.16    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Syneos Health Inc                        | Syneos Health Inc                                                           | CUSIP: 87166B102<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | EC               | CORP              | US        |     11180 | NS      | $410082.40    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp                       | Regal Rexnord Corp                                                          | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |      2994 | NS      | $359220.12    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp                       | UMB Financial Corp                                                          | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |      6742 | NS      | $563091.84    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp NA                         | Zions Bancorp NA                                                            | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |      7862 | NS      | $386495.92    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Partners LP                 | Viper Energy Partners LP                                                    | CUSIP: 92763M105<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |     16392 | NS      | $521101.68    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp                         | Black Hills Corp                                                            | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |      8832 | NS      | $621242.88    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Helmerich & Payne Inc                    | Helmerich & Payne Inc                                                       | CUSIP: 423452101<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | EC               | CORP              | US        |      7675 | NS      | $380449.75    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc               | Brixmor Property Group Inc                                                  | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     14039 | NS      | $318264.13    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Textainer Group Holdings Ltd             | Textainer Group Holdings Ltd                                                | CUSIP: 000000000<br>LEI: 529900OHEYRATAFMIT89 | Long             | EC               | CORP              | BM        |      7847 | NS      | $243335.47    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Two Harbors Investment Corp              | Two Harbors Investment Corp                                                 | CUSIP: 90187B804<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EC               | CORP              | US        |     20037 | NS      | $315983.49    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Paya Holdings Inc                        | Paya Holdings Inc                                                           | CUSIP: 70434P103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70352 | NS      | $553670.24    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Newell Brands Inc                        | Newell Brands Inc                                                           | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |     20947 | NS      | $273986.76    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Verint Systems Inc                       | Verint Systems Inc                                                          | CUSIP: 92343X100<br>LEI: 549300KEQJS5FRVUCO94 | Long             | EC               | CORP              | US        |      8143 | NS      | $295428.04    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corp                           | Flowserve Corp                                                              | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |     15145 | NS      | $464648.60    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc            | Selective Insurance Group Inc                                               | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |      6306 | NS      | $558774.66    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE                        | Brunswick Corp/DE                                                           | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |      3895 | NS      | $280751.60    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co             | Portland General Electric Co                                                | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     11704 | NS      | $573496.00    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc                 | Broadstone Net Lease Inc                                                    | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |     29416 | NS      | $476833.36    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                       | Douglas Emmett Inc                                                          | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7323 | NS      | $114824.64    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Skechers USA Inc                         | Skechers USA Inc                                                            | CUSIP: 830566105<br>LEI: 529900D2R54KZPA4XR56 | Long             | EC               | CORP              | US        |     16687 | NS      | $700019.65    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Life Storage Inc                         | Life Storage Inc                                                            | CUSIP: 53223X107<br>LEI: W9EE01AFDDF9DQCQZC68 | Long             | EC               | CORP              | US        |      1801 | NS      | $177398.50    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                                 | ICON PLC                                                                    | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |      1773 | NS      | $344405.25    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider National Inc                   | Schneider National Inc                                                      | CUSIP: 80689H102<br>LEI: 529900V6GZ6G6E3BLV72 | Long             | EC               | CORP              | US        |     14761 | NS      | $345407.40    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Bright Horizons Family Solutions Inc     | Bright Horizons Family Solutions Inc                                        | CUSIP: 109194100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4799 | NS      | $302816.90    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings Inc                      | Silgan Holdings Inc                                                         | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |     10582 | NS      | $548570.88    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc               | Grand Canyon Education Inc                                                  | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |      3350 | NS      | $353961.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Thoughtworks Holding Inc                 | Thoughtworks Holding Inc                                                    | CUSIP: 88546E105<br>LEI: 984500E705D15F2DF680 | Long             | EC               | CORP              | US        |     24627 | NS      | $250949.13    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Everbridge Inc                           | Everbridge Inc                                                              | CUSIP: 29978A104<br>LEI: 549300WCY0UMR64ATW81 | Long             | EC               | CORP              | US        |      5815 | NS      | $172007.70    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| International Game Technology PLC        | International Game Technology PLC                                           | CUSIP: 000000000<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | EC               | CORP              | GB        |     32370 | NS      | $734151.60    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Organon & Co                             | Organon & Co                                                                | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |      9047 | NS      | $252682.71    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp Inc                    | East West Bancorp Inc                                                       | CUSIP: 27579R104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7504 | NS      | $494513.60    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Funko Inc                                | Funko Inc                                                                   | CUSIP: 361008105<br>LEI: 529900NG9F0KL5P6NK67 | Long             | EC               | CORP              | US        |     19056 | NS      | $207900.96    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp                                 | SLM Corp                                                                    | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37185 | NS      | $617271.00    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS Institutional Money Market Portfolio | MFS Institutional Money Market Portfolio                                    | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        |    495672 | NS      | $495820.26    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corp                    | Envista Holdings Corp                                                       | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |     11896 | NS      | $400538.32    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                   | Cathay General Bancorp                                                      | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |     16134 | NS      | $658105.86    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Hayward Holdings Inc                     | Hayward Holdings Inc                                                        | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17496 | NS      | $164462.40    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| TriMas Corp                              | TriMas Corp                                                                 | CUSIP: 896215209<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | EC               | CORP              | US        |     16719 | NS      | $463785.06    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandy Spring Bancorp Inc                 | Sandy Spring Bancorp Inc                                                    | CUSIP: 800363103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8384 | NS      | $295368.32    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| HireRight Holdings Corp                  | HireRight Holdings Corp                                                     | CUSIP: 433537107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18447 | NS      | $218781.42    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                                  | ITT Inc                                                                     | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |      2892 | NS      | $234541.20    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas Inc                              | ONE Gas Inc                                                                 | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |      6142 | NS      | $465072.24    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Umpqua Holdings Corp                     | Umpqua Holdings Corp                                                        | CUSIP: 904214103<br>LEI: 5299002ENJ7CY215BW86 | Long             | EC               | CORP              | US        |     39435 | NS      | $703914.75    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Trust        | National Storage Affiliates Trust                                           | CUSIP: 637870106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9027 | NS      | $326055.24    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Esab Corp                                | Esab Corp                                                                   | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |      9845 | NS      | $461927.40    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp                                 | LKQ Corp                                                                    | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |     11276 | NS      | $602251.16    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Oil & Gas Corp                  | Magnolia Oil & Gas Corp                                                     | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16273 | NS      | $381601.85    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide Inc                        | ACI Worldwide Inc                                                           | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |     17875 | NS      | $411125.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabre Corp                               | Sabre Corp                                                                  | CUSIP: 78573M104<br>LEI: 529900VKCYZW8GZ4WW58 | Long             | EC               | CORP              | US        |     26033 | NS      | $160883.94    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc             | Texas Capital Bancshares Inc                                                | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |      6029 | NS      | $363608.99    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacific Premier Bancorp Inc              | Pacific Premier Bancorp Inc                                                 | CUSIP: 69478X105<br>LEI: 549300Q1KIC3KLI0XG98 | Long             | EC               | CORP              | US        |     12130 | NS      | $382822.80    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp                     | Quaker Chemical Corp                                                        | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |      1495 | NS      | $249515.50    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                     | LXP Industrial Trust                                                        | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |     37075 | NS      | $371491.50    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                           | Five Below Inc                                                              | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      2693 | NS      | $476310.91    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| XPO Inc                                  | XPO Inc                                                                     | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |     10634 | NS      | $354005.86    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookline Bancorp Inc                    | Brookline Bancorp Inc                                                       | CUSIP: 11373M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33735 | NS      | $477350.25    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc                   | CACI International Inc                                                      | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      1897 | NS      | $570219.23    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp                                 | PVH Corp                                                                    | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |      7195 | NS      | $507895.05    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Berry Global Group Inc                   | Berry Global Group Inc                                                      | CUSIP: 08579W103<br>LEI: 549300G6KKUMMXM8NH73 | Long             | EC               | CORP              | US        |     11604 | NS      | $701229.72    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                             | Visteon Corp                                                                | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |      2126 | NS      | $278144.58    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Focus Financial Partners Inc             | Focus Financial Partners Inc                                                | CUSIP: 34417P100<br>LEI: 5493006FFJCGLZ246V12 | Long             | EC               | CORP              | US        |     11866 | NS      | $442245.82    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters Inc                     | Urban Outfitters Inc                                                        | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |     18118 | NS      | $432114.30    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| QuidelOrtho Corp                         | QuidelOrtho Corp                                                            | CUSIP: 219798105<br>LEI: 549300YU8CMO9HF53113 | Long             | EC               | CORP              | US        |      4180 | NS      | $358100.60    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX Resources Corp                       | CNX Resources Corp                                                          | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |     30618 | NS      | $515607.12    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Hawaii Corp                      | Bank of Hawaii Corp                                                         | CUSIP: 062540109<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EC               | CORP              | US        |      6936 | NS      | $537956.16    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Softchoice Corp                          | Softchoice Corp                                                             | CUSIP: 83405M108<br>LEI: 549300UR1N7ROOB6A660 | Long             | EC               | CORP              | CA        |     23184 | NS      | $312658.67    | 0.68%             |  |  |  | No            |                  1 | On Loan: —       |
| Monro Inc                                | Monro Inc                                                                   | CUSIP: 610236101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6579 | NS      | $297370.80    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc                    | Element Solutions Inc                                                       | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |     24720 | NS      | $449656.80    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group Inc/The          | Hanover Insurance Group Inc/The                                             | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |      3027 | NS      | $409038.51    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Maravai LifeSciences Holdings Inc        | Maravai LifeSciences Holdings Inc                                           | CUSIP: 56600D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11748 | NS      | $168113.88    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Fleet Management Corp            | Element Fleet Management Corp                                               | CUSIP: 286181201<br>LEI: 5493000PGBS1C22ELQ16 | Long             | EC               | CORP              | CA        |     25627 | NS      | $349201.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: —       |
| Timken Co/The                            | Timken Co/The                                                               | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |      6987 | NS      | $493771.29    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Kasey Phillips

**Name of Signer:** Kasey Phillips

**Title:** Assistant Treasurer