# EDGAR Filing Document

**Accession Number:** 0000783740
**File Stem:** 0001193125-26-026997
**Filing Date:** 2026-1
**Character Count:** 1882844
**Document Hash:** bbcb481680a8d000ac9a2032f505a9a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-026997.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0001193125-26-026997

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 70

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**EFFECTIVENESS DATE**: 20260128

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS SERIES TRUST X
- **CENTRAL INDEX KEY:** 0000783740

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04492
- **FILM NUMBER:** 26571836

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 18006372929

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS GOVERNMENT MORTGAGE FUND
- **DATE OF NAME CHANGE:** 19930408

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS GOVERNMENT INCOME PLUS FUND
- **DATE OF NAME CHANGE:** 19930312

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MASSACHUSETTS MFS GOVERNMENT INCOME PLUS FUND
- **DATE OF NAME CHANGE:** 19921015

## Series and Classes Contracts Data

### MFS Aggressive Growth Allocation Fund (Series ID: S000002506)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006838 | A            | MAAGX           |
| C000006839 | R4           | MAALX           |
| C000006843 | B            | MBAGX           |
| C000006844 | C            | MCAGX           |
| C000006845 | I            | MIAGX           |
| C000006847 | R1           | MAAFX           |
| C000006849 | R2           | MAWAX           |
| C000006850 | R3           | MAAHX           |
| C000231058 | R6           | AGGPX           |

### MFS Moderate Allocation Fund (Series ID: S000002507)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006851 | A            | MAMAX           |
| C000006852 | R4           | MAMJX           |
| C000006856 | B            | MMABX           |
| C000006857 | C            | MMACX           |
| C000006858 | I            | MMAIX           |
| C000006860 | R1           | MAMFX           |
| C000006862 | R2           | MARRX           |
| C000006863 | R3           | MAMHX           |
| C000231059 | R6           | MAMPX           |

### MFS Conservative Allocation Fund (Series ID: S000002510)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006887 | A            | MACFX           |
| C000006888 | R4           | MACJX           |
| C000006892 | B            | MACBX           |
| C000006893 | C            | MACVX           |
| C000006894 | I            | MACIX           |
| C000006896 | R1           | MACKX           |
| C000006898 | R2           | MCARX           |
| C000006899 | R3           | MACNX           |
| C000231060 | R6           | MACQX           |

### MFS Emerging Markets Equity Fund (Series ID: S000002512)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006904 | A            | MEMAX           |
| C000006905 | B            | MEMBX           |
| C000006906 | C            | MEMCX           |
| C000006907 | I            | MEMIX           |
| C000071424 | R1           | MEMRX           |
| C000071425 | R2           | MEMFX           |
| C000071426 | R3           | MEMGX           |
| C000071427 | R4           | MEMHX           |
| C000071428 | R6           | MEMJX           |

### MFS Growth Allocation Fund (Series ID: S000002514)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006911 | A            | MAGWX           |
| C000006912 | R4           | MAGJX           |
| C000006916 | B            | MBGWX           |
| C000006917 | C            | MCGWX           |
| C000006918 | I            | MGWIX           |
| C000006920 | R1           | MAGMX           |
| C000006922 | R2           | MGALX           |
| C000006923 | R3           | MAGEX           |
| C000231061 | R6           | MAGQX           |

### MFS International Diversification Fund (Series ID: S000002515)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006924 | A            | MDIDX           |
| C000006925 | R4           | MDITX           |
| C000006929 | B            | MDIFX           |
| C000006930 | C            | MDIGX           |
| C000006931 | I            | MDIJX           |
| C000006933 | R1           | MDIOX           |
| C000006935 | R2           | MDIKX           |
| C000006936 | R3           | MDIHX           |
| C000195683 | R6           | MDIZX           |

### MFS International Growth Fund (Series ID: S000002516)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006937 | A            | MGRAX           |
| C000006938 | B            | MGRBX           |
| C000006939 | C            | MGRCX           |
| C000006940 | I            | MQGIX           |
| C000034484 | R6           | MGRDX           |
| C000071430 | R4           | MGRVX           |
| C000071431 | R1           | MGRRX           |
| C000071432 | R2           | MGRQX           |
| C000071433 | R3           | MGRTX           |

### MFS International Intrinsic Value Fund (Series ID: S000002517)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006941 | A            | MGIAX           |
| C000006942 | B            | MGIBX           |
| C000006943 | C            | MGICX           |
| C000006944 | I            | MINIX           |
| C000034485 | R6           | MINJX           |
| C000071434 | R1           | MINRX           |
| C000071435 | R2           | MINFX           |
| C000071436 | R3           | MINGX           |
| C000071437 | R4           | MINHX           |

### MFS Managed Wealth Fund (Series ID: S000045806)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000142775 | A            | MNWAX           |
| C000142776 | B            | MNWBX           |
| C000142777 | C            | MNWCX           |
| C000142778 | I            | MNWIX           |
| C000142779 | R1           | MNWRX           |
| C000142780 | R2           | MNWSX           |
| C000142781 | R3           | MNWTX           |
| C000142782 | R4           | MNWUX           |
| C000195688 | R6           | MNWZX           |

### MFS Blended Research Growth Equity Fund (Series ID: S000050658)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000160020 | A            | BRWAX           |
| C000160021 | B            | BRWBX           |
| C000160022 | C            | BRWCX           |
| C000160023 | I            | BRWJX           |
| C000160024 | R1           | BRWRX           |
| C000160025 | R2           | BRWSX           |
| C000160026 | R3           | BRWTX           |
| C000160027 | R4           | BRWUX           |
| C000160028 | R6           | BRWVX           |

### MFS Blended Research Small Cap Equity Fund (Series ID: S000050659)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000160029 | A            | BRSDX           |
| C000160030 | B            | BRSBX           |
| C000160031 | C            | BRSHX           |
| C000160032 | I            | BRSJX           |
| C000160033 | R1           | BRSPX           |
| C000160034 | R2           | BRSSX           |
| C000160035 | R3           | BRSTX           |
| C000160036 | R4           | BRSUX           |
| C000160037 | R6           | BRSYX           |

### MFS Blended Research Value Equity Fund (Series ID: S000050660)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000160038 | A            | BRUDX           |
| C000160039 | B            | BRUEX           |
| C000160040 | C            | BRUGX           |
| C000160041 | I            | BRUHX           |
| C000160042 | R1           | BRUJX           |
| C000160043 | R2           | BRUKX           |
| C000160044 | R3           | BRULX           |
| C000160045 | R4           | BRUMX           |
| C000160046 | R6           | BRUNX           |

### MFS Blended Research Mid Cap Equity Fund (Series ID: S000054892)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000172715 | A            | BMSFX           |
| C000172716 | B            | BMSBX           |
| C000172717 | C            | BMSDX           |
| C000172718 | I            | BMSLX           |
| C000172719 | R1           | BMSRX           |
| C000172720 | R2           | BMSSX           |
| C000172721 | R3           | BMSTX           |
| C000172722 | R4           | BMSVX           |
| C000172723 | R6           | BMSYX           |

### MFS International Large Cap Value Fund (Series ID: S000068882)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000220106 | R6           | MKVHX           |
| C000220107 | R4           | MKVGX           |
| C000220108 | R3           | MKVFX           |
| C000220109 | A            | MKVBX           |
| C000220110 | R1           | MKVDX           |
| C000220111 | I            | MKVIX           |
| C000220112 | C            | MKVCX           |
| C000220113 | R2           | MKVEX           |

?xml version='1.0' encoding='ASCII'? N-CSRS

8.6 39.5 6.1 4.0 99.8 13.6 1.5 99.8 39.5 0.2 4.0 19.5 100.0 13.6 100.0 59.3 99.8 39.5 8.0 39.3 39.5 39.5 19.5 4.0 6.1 1.5 20.6 39.3 13.6 1.5 0.2 50.4 39.5 39.3 0.2 1.5 13.6 59.3 1.5 100.0 8.6 1.5 8.0 6.1 20.6 13.6 59.3 39.5 6.1 99.8 100.0 39.3 6.1 0.2 13.6 39.3 1.5 50.4 39.3 59.3 19.5 39.5 0.2 26.6 99.8 1.5 6.1 99.8 0.2 20.6 26.6 59.3 1.5 8.0 8.6 59.3 0.2 1.5 1.5 99.8 4.0 1.5 8.6 26.6 0.2 39.3 59.3 6.1 19.5 19.5 100.0 4.0 19.5 19.5 59.3 13.6 26.6 6.1 100.0 19.5 39.3 1.5 59.3 8.6 26.6 6.1 39.5 1.5 99.8 1.5 50.4 26.6 19.5 1.5 39.3 13.6 100.0 100.0 8.6 1.5 100.0 0.2 13.6 4.0 1.5 99.8 30.6 30.6 50.4 9.9 30.6 8.0 9.9 26.6 30.6 8.0 30.6 8.0 9.9 9.9 9.9 1.5 1.5 58.5 58.5 4.0 20.6 1.5 9.9 58.5 30.6 1.0 30.6 20.6 58.5 1.0 9.9 8.0 50.4 20.6 26.6 1.5 1.0 1.5 58.5 1.0 50.4 20.6 1.0 1.5 1.0 8.6 8.6 58.5 8.6 1.0 8.0 50.4 9.9 50.4 1.5 1.5 30.6 20.6 20.6 1.0 8.0 58.5 50.4 1.5 9.9 1.0 58.5 4.0 30.6 26.6 4.0 58.5 0000783740 false Class B Class R1 Class R4 Class A Class R2 Class C Class C Class R6 Class R3 Class A Class R6 Class R4 Class R6 Class A Class I Class R1 Class R3 Class A Class R3 Class R4 Class R4 Class C Class R3 Class R3 Class R3 Class R1 Class R3 Class R2 Class R2 Class R2 Class R2 Class R6 Class R4 Class A Class I Class R6 Class A Class R2 Class B Class R1 Class C Class R1 Class I Class R6 Class C Class R1 Class A Class C Class R2 Class R4 Class R1 Class I Class I Class B Class R6 Class I Class I Class R6 Class I Class I Class I Class R1 Class A Class R4 Class A Class R1 Class I Class R4 Class B Class B MNWBX Class C MNWCX Class R4 MNWUX Class C MKVCX Class B MBAGX Class R6 MACQX MNWTX MEMBX MEMRX MACJX BRUHX BMSSX MGRRX MDIKX MQGIX MGWIX BMSFX MAGJX MAGWX MMABX MNWRX MNWIX MINJX BRWVX BRWJX BRUGX MDIGX MCARX MACIX MKVGX MAGEX BRSUX MINIX MEMCX BRWTX BRUEX BRWUX MKVHX MGRBX MINHX MACVX BRWCX MNWSX BRWRX MCGWX MACKX MKVEX MAGQX MAMAX MDIZX MAMHX N-1A MKVFX MEMAX MKVBX MNWZX BRWSX MAMPX MINRX MDIOX MINGX MGALX MKVIX BMSRX MACNX MGRAX MDIJX MKVDX MIAGX MNWAX MAAGX BRUDX MEMIX BMSYX MAMJX Class C MCAGX Class I Class C MMAIX MMACX Class R1 MAMFX Class B Class R1 Class C Class R2 MARRX Class B BMSBX Class C BMSDX Class I BMSLX Class R3 BMSTX Class R1 Class R4 BMSVX MAGMX MBGWX MGICX MAAFX BRSDX Class A Class B BRSBX Class C BRSHX Class I BRSJX Class R1 BRSPX Class R2 BRSSX Class R3 BRSTX Class R2 Class R6 BRSYX MAWAX Class R1 BRUJX Class R2 BRUKX Class R3 BRULX Class R4 BRUMX Class R6 BRUNX Class R3 Class A BRWAX Class B MAAHX BRWBX Class R4 MAALX Class R2 MEMFX Class R3 MEMGX Class R4 MEMHX Class R6 MEMJX Class R6 Class C AGGPX MGRCX Class R2 MGRQX Class R3 MGRTX MGRVX Class R6 MGRDX Class A MGIAX Class B MGIBX Class A MACFX Class R2 MINFX Class A MDIDX Class B Class B MDIFX MACBX Class R3 MDIHX Class R4 MDITX N-CSRS semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report 0000783740 mstx:C000006838Member 2025-05-31 2025-11-30 0000783740 mstx:C000006839Member 2025-05-31 2025-11-30 0000783740 mstx:C000006843Member 2025-05-31 2025-11-30 0000783740 mstx:C000006844Member 2025-05-31 2025-11-30 0000783740 mstx:C000006845Member 2025-05-31 2025-11-30 0000783740 mstx:C000006847Member 2025-05-31 2025-11-30 0000783740 mstx:C000006849Member 2025-05-31 2025-11-30 0000783740 mstx:C000006850Member 2025-05-31 2025-11-30 0000783740 mstx:C000006851Member 2025-05-31 2025-11-30 0000783740 mstx:C000006852Member 2025-05-31 2025-11-30 0000783740 mstx:C000006856Member 2025-05-31 2025-11-30 0000783740 mstx:C000006857Member 2025-05-31 2025-11-30 0000783740 mstx:C000006858Member 2025-05-31 2025-11-30 0000783740 mstx:C000006860Member 2025-05-31 2025-11-30 0000783740 mstx:C000006862Member 2025-05-31 2025-11-30 0000783740 mstx:C000006863Member 2025-05-31 2025-11-30 0000783740 mstx:C000006887Member 2025-05-31 2025-11-30 0000783740 mstx:C000006888Member 2025-05-31 2025-11-30 0000783740 mstx:C000006892Member 2025-05-31 2025-11-30 0000783740 mstx:C000006893Member 2025-05-31 2025-11-30 0000783740 mstx:C000006894Member 2025-05-31 2025-11-30 0000783740 mstx:C000006896Member 2025-05-31 2025-11-30 0000783740 mstx:C000006898Member 2025-05-31 2025-11-30 0000783740 mstx:C000006899Member 2025-05-31 2025-11-30 0000783740 mstx:C000006904Member 2025-05-31 2025-11-30 0000783740 mstx:C000006905Member 2025-05-31 2025-11-30 0000783740 mstx:C000006906Member 2025-05-31 2025-11-30 0000783740 mstx:C000006907Member 2025-05-31 2025-11-30 0000783740 mstx:C000006911Member 2025-05-31 2025-11-30 0000783740 mstx:C000006912Member 2025-05-31 2025-11-30 0000783740 mstx:C000006916Member 2025-05-31 2025-11-30 0000783740 mstx:C000006917Member 2025-05-31 2025-11-30 0000783740 mstx:C000006918Member 2025-05-31 2025-11-30 0000783740 mstx:C000006920Member 2025-05-31 2025-11-30 0000783740 mstx:C000006922Member 2025-05-31 2025-11-30 0000783740 mstx:C000006923Member 2025-05-31 2025-11-30 0000783740 mstx:C000006924Member 2025-05-31 2025-11-30 0000783740 mstx:C000006925Member 2025-05-31 2025-11-30 0000783740 mstx:C000006929Member 2025-05-31 2025-11-30 0000783740 mstx:C000006930Member 2025-05-31 2025-11-30 0000783740 mstx:C000006931Member 2025-05-31 2025-11-30 0000783740 mstx:C000006933Member 2025-05-31 2025-11-30 0000783740 mstx:C000006935Member 2025-05-31 2025-11-30 0000783740 mstx:C000006936Member 2025-05-31 2025-11-30 0000783740 mstx:C000006937Member 2025-05-31 2025-11-30 0000783740 mstx:C000006938Member 2025-05-31 2025-11-30 0000783740 mstx:C000006939Member 2025-05-31 2025-11-30 0000783740 mstx:C000006940Member 2025-05-31 2025-11-30 0000783740 mstx:C000006941Member 2025-05-31 2025-11-30 0000783740 mstx:C000006942Member 2025-05-31 2025-11-30 0000783740 mstx:C000006943Member 2025-05-31 2025-11-30 0000783740 mstx:C000006944Member 2025-05-31 2025-11-30 0000783740 mstx:C000034484Member 2025-05-31 2025-11-30 0000783740 mstx:C000034485Member 2025-05-31 2025-11-30 0000783740 mstx:C000071424Member 2025-05-31 2025-11-30 0000783740 mstx:C000071425Member 2025-05-31 2025-11-30 0000783740 mstx:C000071426Member 2025-05-31 2025-11-30 0000783740 mstx:C000071427Member 2025-05-31 2025-11-30 0000783740 mstx:C000071428Member 2025-05-31 2025-11-30 0000783740 mstx:C000071430Member 2025-05-31 2025-11-30 0000783740 mstx:C000071431Member 2025-05-31 2025-11-30 0000783740 mstx:C000071432Member 2025-05-31 2025-11-30 0000783740 mstx:C000071433Member 2025-05-31 2025-11-30 0000783740 mstx:C000071434Member 2025-05-31 2025-11-30 0000783740 mstx:C000071435Member 2025-05-31 2025-11-30 0000783740 mstx:C000071436Member 2025-05-31 2025-11-30 0000783740 mstx:C000071437Member 2025-05-31 2025-11-30 0000783740 mstx:C000142775Member 2025-05-31 2025-11-30 0000783740 mstx:C000142776Member 2025-05-31 2025-11-30 0000783740 mstx:C000142777Member 2025-05-31 2025-11-30 0000783740 mstx:C000142778Member 2025-05-31 2025-11-30 0000783740 mstx:C000142779Member 2025-05-31 2025-11-30 0000783740 mstx:C000142780Member 2025-05-31 2025-11-30 0000783740 mstx:C000142781Member 2025-05-31 2025-11-30 0000783740 mstx:C000142782Member 2025-05-31 2025-11-30 0000783740 mstx:C000160020Member 2025-05-31 2025-11-30 0000783740 mstx:C000160021Member 2025-05-31 2025-11-30 0000783740 mstx:C000160022Member 2025-05-31 2025-11-30 0000783740 mstx:C000160023Member 2025-05-31 2025-11-30 0000783740 mstx:C000160024Member 2025-05-31 2025-11-30 0000783740 mstx:C000160025Member 2025-05-31 2025-11-30 0000783740 mstx:C000160026Member 2025-05-31 2025-11-30 0000783740 mstx:C000160027Member 2025-05-31 2025-11-30 0000783740 mstx:C000160028Member 2025-05-31 2025-11-30 0000783740 mstx:C000160029Member 2025-05-31 2025-11-30 0000783740 mstx:C000160030Member 2025-05-31 2025-11-30 0000783740 mstx:C000160031Member 2025-05-31 2025-11-30 0000783740 mstx:C000160032Member 2025-05-31 2025-11-30 0000783740 mstx:C000160033Member 2025-05-31 2025-11-30 0000783740 mstx:C000160034Member 2025-05-31 2025-11-30 0000783740 mstx:C000160035Member 2025-05-31 2025-11-30 0000783740 mstx:C000160036Member 2025-05-31 2025-11-30 0000783740 mstx:C000160037Member 2025-05-31 2025-11-30 0000783740 mstx:C000160038Member 2025-05-31 2025-11-30 0000783740 mstx:C000160039Member 2025-05-31 2025-11-30 0000783740 mstx:C000160040Member 2025-05-31 2025-11-30 0000783740 mstx:C000160041Member 2025-05-31 2025-11-30 0000783740 mstx:C000160042Member 2025-05-31 2025-11-30 0000783740 mstx:C000160043Member 2025-05-31 2025-11-30 0000783740 mstx:C000160044Member 2025-05-31 2025-11-30 0000783740 mstx:C000160045Member 2025-05-31 2025-11-30 0000783740 mstx:C000160046Member 2025-05-31 2025-11-30 0000783740 mstx:C000172715Member 2025-05-31 2025-11-30 0000783740 mstx:C000172716Member 2025-05-31 2025-11-30 0000783740 mstx:C000172717Member 2025-05-31 2025-11-30 0000783740 mstx:C000172718Member 2025-05-31 2025-11-30 0000783740 mstx:C000172719Member 2025-05-31 2025-11-30 0000783740 mstx:C000172720Member 2025-05-31 2025-11-30 0000783740 mstx:C000172721Member 2025-05-31 2025-11-30 0000783740 mstx:C000172722Member 2025-05-31 2025-11-30 0000783740 mstx:C000172723Member 2025-05-31 2025-11-30 0000783740 mstx:C000195683Member 2025-05-31 2025-11-30 0000783740 mstx:C000195688Member 2025-05-31 2025-11-30 0000783740 mstx:C000220106Member 2025-05-31 2025-11-30 0000783740 mstx:C000220107Member 2025-05-31 2025-11-30 0000783740 mstx:C000220108Member 2025-05-31 2025-11-30 0000783740 mstx:C000220109Member 2025-05-31 2025-11-30 0000783740 mstx:C000220110Member 2025-05-31 2025-11-30 0000783740 mstx:C000220111Member 2025-05-31 2025-11-30 0000783740 mstx:C000220112Member 2025-05-31 2025-11-30 0000783740 mstx:C000220113Member 2025-05-31 2025-11-30 0000783740 mstx:C000231058Member 2025-05-31 2025-11-30 0000783740 mstx:C000231059Member 2025-05-31 2025-11-30 0000783740 mstx:C000231060Member 2025-05-31 2025-11-30 0000783740 mstx:C000231061Member 2025-05-31 2025-11-30 0000783740 2025-05-31 2025-11-30 0000783740 mstx:C000006838Member 2025-11-30 0000783740 mstx:C000006838Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006838Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006838Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006838Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006838Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006839Member 2025-11-30 0000783740 mstx:C000006839Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006839Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006839Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006839Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006839Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006843Member 2025-11-30 0000783740 mstx:C000006843Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006843Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006843Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006843Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006843Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006844Member 2025-11-30 0000783740 mstx:C000006844Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006844Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006844Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006844Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006844Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006845Member 2025-11-30 0000783740 mstx:C000006845Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006845Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006845Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006845Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006845Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006847Member 2025-11-30 0000783740 mstx:C000006847Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006847Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006847Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006847Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006847Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006849Member 2025-11-30 0000783740 mstx:C000006849Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006849Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006849Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006849Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006849Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006850Member 2025-11-30 0000783740 mstx:C000006850Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006850Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006850Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006850Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006850Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006851Member 2025-11-30 0000783740 mstx:C000006851Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006851Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006851Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006851Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006851Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006851Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006852Member 2025-11-30 0000783740 mstx:C000006852Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006852Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006852Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006852Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006852Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006852Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006856Member 2025-11-30 0000783740 mstx:C000006856Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006856Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006856Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006856Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006856Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006856Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006857Member 2025-11-30 0000783740 mstx:C000006857Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006857Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006857Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006857Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006857Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006857Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006858Member 2025-11-30 0000783740 mstx:C000006858Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006858Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006858Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006858Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006858Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006858Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006860Member 2025-11-30 0000783740 mstx:C000006860Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006860Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006860Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006860Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006860Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006860Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006862Member 2025-11-30 0000783740 mstx:C000006862Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006862Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006862Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006862Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006862Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006862Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006863Member 2025-11-30 0000783740 mstx:C000006863Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006863Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006863Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006863Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006863Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006863Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006887Member 2025-11-30 0000783740 mstx:C000006887Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006887Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSLimitedMaturityFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006887Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006887Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006887Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006887Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006888Member 2025-11-30 0000783740 mstx:C000006888Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006888Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSLimitedMaturityFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006888Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006888Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006888Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006888Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006892Member 2025-11-30 0000783740 mstx:C000006892Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006892Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSLimitedMaturityFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006892Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006892Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006892Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006892Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006893Member 2025-11-30 0000783740 mstx:C000006893Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006893Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSLimitedMaturityFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006893Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006893Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006893Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006893Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006894Member 2025-11-30 0000783740 mstx:C000006894Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006894Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSLimitedMaturityFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006894Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006894Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006894Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006894Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006896Member 2025-11-30 0000783740 mstx:C000006896Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006896Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSLimitedMaturityFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006896Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006896Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006896Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006896Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006898Member 2025-11-30 0000783740 mstx:C000006898Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006898Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSLimitedMaturityFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006898Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006898Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006898Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006898Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006899Member 2025-11-30 0000783740 mstx:C000006899Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006899Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSLimitedMaturityFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006899Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006899Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006899Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006899Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006904Member 2025-11-30 0000783740 mstx:C000006904Member mstx:AlibabaGroupHoldingLtdMember 2025-11-30 0000783740 mstx:C000006904Member mstx:ASETechnologyHoldingCoLtdMember 2025-11-30 0000783740 mstx:C000006904Member country:BR 2025-11-30 0000783740 mstx:C000006904Member mstx:ChinaConstructionBankCorpMember 2025-11-30 0000783740 mstx:C000006904Member country:CN 2025-11-30 0000783740 mstx:C000006904Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000006904Member mstx:HDFCBankLtdMember 2025-11-30 0000783740 mstx:C000006904Member country:HK 2025-11-30 0000783740 mstx:C000006904Member mstx:HonHaiPrecisionIndustryCoLtdMember 2025-11-30 0000783740 mstx:C000006904Member country:ID 2025-11-30 0000783740 mstx:C000006904Member country:IN 2025-11-30 0000783740 mstx:C000006904Member country:KR 2025-11-30 0000783740 mstx:C000006904Member mstx:KweichowMoutaiCoLtdAMember 2025-11-30 0000783740 mstx:C000006904Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006904Member country:MX 2025-11-30 0000783740 mstx:C000006904Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000006904Member mstx:RelianceIndustriesLtdMember 2025-11-30 0000783740 mstx:C000006904Member mstx:SamsungElectronicsCoLtdMember 2025-11-30 0000783740 mstx:C000006904Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000006904Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000006904Member country:TW 2025-11-30 0000783740 mstx:C000006904Member country:US 2025-11-30 0000783740 mstx:C000006905Member 2025-11-30 0000783740 mstx:C000006905Member mstx:AlibabaGroupHoldingLtdMember 2025-11-30 0000783740 mstx:C000006905Member mstx:ASETechnologyHoldingCoLtdMember 2025-11-30 0000783740 mstx:C000006905Member country:BR 2025-11-30 0000783740 mstx:C000006905Member mstx:ChinaConstructionBankCorpMember 2025-11-30 0000783740 mstx:C000006905Member country:CN 2025-11-30 0000783740 mstx:C000006905Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000006905Member mstx:HDFCBankLtdMember 2025-11-30 0000783740 mstx:C000006905Member country:HK 2025-11-30 0000783740 mstx:C000006905Member mstx:HonHaiPrecisionIndustryCoLtdMember 2025-11-30 0000783740 mstx:C000006905Member country:ID 2025-11-30 0000783740 mstx:C000006905Member country:IN 2025-11-30 0000783740 mstx:C000006905Member country:KR 2025-11-30 0000783740 mstx:C000006905Member mstx:KweichowMoutaiCoLtdAMember 2025-11-30 0000783740 mstx:C000006905Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006905Member country:MX 2025-11-30 0000783740 mstx:C000006905Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000006905Member mstx:RelianceIndustriesLtdMember 2025-11-30 0000783740 mstx:C000006905Member mstx:SamsungElectronicsCoLtdMember 2025-11-30 0000783740 mstx:C000006905Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000006905Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000006905Member country:TW 2025-11-30 0000783740 mstx:C000006905Member country:US 2025-11-30 0000783740 mstx:C000006906Member 2025-11-30 0000783740 mstx:C000006906Member mstx:AlibabaGroupHoldingLtdMember 2025-11-30 0000783740 mstx:C000006906Member mstx:ASETechnologyHoldingCoLtdMember 2025-11-30 0000783740 mstx:C000006906Member country:BR 2025-11-30 0000783740 mstx:C000006906Member mstx:ChinaConstructionBankCorpMember 2025-11-30 0000783740 mstx:C000006906Member country:CN 2025-11-30 0000783740 mstx:C000006906Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000006906Member mstx:HDFCBankLtdMember 2025-11-30 0000783740 mstx:C000006906Member country:HK 2025-11-30 0000783740 mstx:C000006906Member mstx:HonHaiPrecisionIndustryCoLtdMember 2025-11-30 0000783740 mstx:C000006906Member country:ID 2025-11-30 0000783740 mstx:C000006906Member country:IN 2025-11-30 0000783740 mstx:C000006906Member country:KR 2025-11-30 0000783740 mstx:C000006906Member mstx:KweichowMoutaiCoLtdAMember 2025-11-30 0000783740 mstx:C000006906Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006906Member country:MX 2025-11-30 0000783740 mstx:C000006906Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000006906Member mstx:RelianceIndustriesLtdMember 2025-11-30 0000783740 mstx:C000006906Member mstx:SamsungElectronicsCoLtdMember 2025-11-30 0000783740 mstx:C000006906Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000006906Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000006906Member country:TW 2025-11-30 0000783740 mstx:C000006906Member country:US 2025-11-30 0000783740 mstx:C000006907Member 2025-11-30 0000783740 mstx:C000006907Member mstx:AlibabaGroupHoldingLtdMember 2025-11-30 0000783740 mstx:C000006907Member mstx:ASETechnologyHoldingCoLtdMember 2025-11-30 0000783740 mstx:C000006907Member country:BR 2025-11-30 0000783740 mstx:C000006907Member mstx:ChinaConstructionBankCorpMember 2025-11-30 0000783740 mstx:C000006907Member country:CN 2025-11-30 0000783740 mstx:C000006907Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000006907Member mstx:HDFCBankLtdMember 2025-11-30 0000783740 mstx:C000006907Member country:HK 2025-11-30 0000783740 mstx:C000006907Member mstx:HonHaiPrecisionIndustryCoLtdMember 2025-11-30 0000783740 mstx:C000006907Member country:ID 2025-11-30 0000783740 mstx:C000006907Member country:IN 2025-11-30 0000783740 mstx:C000006907Member country:KR 2025-11-30 0000783740 mstx:C000006907Member mstx:KweichowMoutaiCoLtdAMember 2025-11-30 0000783740 mstx:C000006907Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006907Member country:MX 2025-11-30 0000783740 mstx:C000006907Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000006907Member mstx:RelianceIndustriesLtdMember 2025-11-30 0000783740 mstx:C000006907Member mstx:SamsungElectronicsCoLtdMember 2025-11-30 0000783740 mstx:C000006907Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000006907Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000006907Member country:TW 2025-11-30 0000783740 mstx:C000006907Member country:US 2025-11-30 0000783740 mstx:C000006911Member 2025-11-30 0000783740 mstx:C000006911Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006911Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006911Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006911Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006911Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006911Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006912Member 2025-11-30 0000783740 mstx:C000006912Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006912Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006912Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006912Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006912Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006912Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006916Member 2025-11-30 0000783740 mstx:C000006916Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006916Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006916Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006916Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006916Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006916Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006917Member 2025-11-30 0000783740 mstx:C000006917Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006917Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006917Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006917Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006917Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006917Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006918Member 2025-11-30 0000783740 mstx:C000006918Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006918Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006918Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006918Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006918Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006918Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006920Member 2025-11-30 0000783740 mstx:C000006920Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006920Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006920Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006920Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006920Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006920Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006922Member 2025-11-30 0000783740 mstx:C000006922Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006922Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006922Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006922Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006922Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006922Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006923Member 2025-11-30 0000783740 mstx:C000006923Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000006923Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000006923Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000006923Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006923Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000006923Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000006924Member 2025-11-30 0000783740 mstx:C000006924Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006924Member mstx:InternationalStockFundsMember 2025-11-30 0000783740 mstx:C000006924Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006924Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006924Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006924Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006924Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006924Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006924Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006924Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006925Member 2025-11-30 0000783740 mstx:C000006925Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006925Member mstx:InternationalStockFundsMember 2025-11-30 0000783740 mstx:C000006925Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006925Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006925Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006925Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006925Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006925Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006925Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006925Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006929Member 2025-11-30 0000783740 mstx:C000006929Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006929Member mstx:InternationalStockFundsMember 2025-11-30 0000783740 mstx:C000006929Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006929Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006929Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006929Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006929Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006929Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006929Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006929Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006930Member 2025-11-30 0000783740 mstx:C000006930Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006930Member mstx:InternationalStockFundsMember 2025-11-30 0000783740 mstx:C000006930Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006930Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006930Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006930Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006930Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006930Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006930Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006930Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006931Member 2025-11-30 0000783740 mstx:C000006931Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006931Member mstx:InternationalStockFundsMember 2025-11-30 0000783740 mstx:C000006931Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006931Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006931Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006931Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006931Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006931Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006931Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006931Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006933Member 2025-11-30 0000783740 mstx:C000006933Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006933Member mstx:InternationalStockFundsMember 2025-11-30 0000783740 mstx:C000006933Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006933Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006933Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006933Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006933Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006933Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006933Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006933Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006935Member 2025-11-30 0000783740 mstx:C000006935Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006935Member mstx:InternationalStockFundsMember 2025-11-30 0000783740 mstx:C000006935Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006935Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006935Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006935Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006935Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006935Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006935Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006935Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006936Member 2025-11-30 0000783740 mstx:C000006936Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000006936Member mstx:InternationalStockFundsMember 2025-11-30 0000783740 mstx:C000006936Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000006936Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000006936Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000006936Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000006936Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000006936Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000006936Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000006936Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006937Member 2025-11-30 0000783740 mstx:C000006937Member mstx:AgnicoEagleMinesLtdMember 2025-11-30 0000783740 mstx:C000006937Member mstx:AIAGroupLtdMember 2025-11-30 0000783740 mstx:C000006937Member mstx:AstraZenecaPLCMember 2025-11-30 0000783740 mstx:C000006937Member country:CA 2025-11-30 0000783740 mstx:C000006937Member country:CH 2025-11-30 0000783740 mstx:C000006937Member country:CN 2025-11-30 0000783740 mstx:C000006937Member country:DE 2025-11-30 0000783740 mstx:C000006937Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000006937Member country:FR 2025-11-30 0000783740 mstx:C000006937Member country:GB 2025-11-30 0000783740 mstx:C000006937Member mstx:HitachiLtdMember 2025-11-30 0000783740 mstx:C000006937Member country:JP 2025-11-30 0000783740 mstx:C000006937Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006937Member mstx:NestleSAMember 2025-11-30 0000783740 mstx:C000006937Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000006937Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000006937Member mstx:SAPSEMember 2025-11-30 0000783740 mstx:C000006937Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000006937Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000006937Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000006937Member country:TW 2025-11-30 0000783740 mstx:C000006937Member country:US 2025-11-30 0000783740 mstx:C000006938Member 2025-11-30 0000783740 mstx:C000006938Member mstx:AgnicoEagleMinesLtdMember 2025-11-30 0000783740 mstx:C000006938Member mstx:AIAGroupLtdMember 2025-11-30 0000783740 mstx:C000006938Member mstx:AstraZenecaPLCMember 2025-11-30 0000783740 mstx:C000006938Member country:CA 2025-11-30 0000783740 mstx:C000006938Member country:CH 2025-11-30 0000783740 mstx:C000006938Member country:CN 2025-11-30 0000783740 mstx:C000006938Member country:DE 2025-11-30 0000783740 mstx:C000006938Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000006938Member country:FR 2025-11-30 0000783740 mstx:C000006938Member country:GB 2025-11-30 0000783740 mstx:C000006938Member mstx:HitachiLtdMember 2025-11-30 0000783740 mstx:C000006938Member country:JP 2025-11-30 0000783740 mstx:C000006938Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006938Member mstx:NestleSAMember 2025-11-30 0000783740 mstx:C000006938Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000006938Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000006938Member mstx:SAPSEMember 2025-11-30 0000783740 mstx:C000006938Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000006938Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000006938Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000006938Member country:TW 2025-11-30 0000783740 mstx:C000006938Member country:US 2025-11-30 0000783740 mstx:C000006939Member 2025-11-30 0000783740 mstx:C000006939Member mstx:AgnicoEagleMinesLtdMember 2025-11-30 0000783740 mstx:C000006939Member mstx:AIAGroupLtdMember 2025-11-30 0000783740 mstx:C000006939Member mstx:AstraZenecaPLCMember 2025-11-30 0000783740 mstx:C000006939Member country:CA 2025-11-30 0000783740 mstx:C000006939Member country:CH 2025-11-30 0000783740 mstx:C000006939Member country:CN 2025-11-30 0000783740 mstx:C000006939Member country:DE 2025-11-30 0000783740 mstx:C000006939Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000006939Member country:FR 2025-11-30 0000783740 mstx:C000006939Member country:GB 2025-11-30 0000783740 mstx:C000006939Member mstx:HitachiLtdMember 2025-11-30 0000783740 mstx:C000006939Member country:JP 2025-11-30 0000783740 mstx:C000006939Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006939Member mstx:NestleSAMember 2025-11-30 0000783740 mstx:C000006939Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000006939Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000006939Member mstx:SAPSEMember 2025-11-30 0000783740 mstx:C000006939Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000006939Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000006939Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000006939Member country:TW 2025-11-30 0000783740 mstx:C000006939Member country:US 2025-11-30 0000783740 mstx:C000006940Member 2025-11-30 0000783740 mstx:C000006940Member mstx:AgnicoEagleMinesLtdMember 2025-11-30 0000783740 mstx:C000006940Member mstx:AIAGroupLtdMember 2025-11-30 0000783740 mstx:C000006940Member mstx:AstraZenecaPLCMember 2025-11-30 0000783740 mstx:C000006940Member country:CA 2025-11-30 0000783740 mstx:C000006940Member country:CH 2025-11-30 0000783740 mstx:C000006940Member country:CN 2025-11-30 0000783740 mstx:C000006940Member country:DE 2025-11-30 0000783740 mstx:C000006940Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000006940Member country:FR 2025-11-30 0000783740 mstx:C000006940Member country:GB 2025-11-30 0000783740 mstx:C000006940Member mstx:HitachiLtdMember 2025-11-30 0000783740 mstx:C000006940Member country:JP 2025-11-30 0000783740 mstx:C000006940Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006940Member mstx:NestleSAMember 2025-11-30 0000783740 mstx:C000006940Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000006940Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000006940Member mstx:SAPSEMember 2025-11-30 0000783740 mstx:C000006940Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000006940Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000006940Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000006940Member country:TW 2025-11-30 0000783740 mstx:C000006940Member country:US 2025-11-30 0000783740 mstx:C000006941Member 2025-11-30 0000783740 mstx:C000006941Member mstx:AIBGroupPLCMember 2025-11-30 0000783740 mstx:C000006941Member country:CA 2025-11-30 0000783740 mstx:C000006941Member mstx:CaixaBankSAMember 2025-11-30 0000783740 mstx:C000006941Member country:CH 2025-11-30 0000783740 mstx:C000006941Member country:DE 2025-11-30 0000783740 mstx:C000006941Member mstx:DeutscheBoerseAGMember 2025-11-30 0000783740 mstx:C000006941Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000006941Member country:ES 2025-11-30 0000783740 mstx:C000006941Member country:FR 2025-11-30 0000783740 mstx:C000006941Member mstx:FrancoNevadaCorpMember 2025-11-30 0000783740 mstx:C000006941Member country:GB 2025-11-30 0000783740 mstx:C000006941Member country:IE 2025-11-30 0000783740 mstx:C000006941Member country:JP 2025-11-30 0000783740 mstx:C000006941Member mstx:LegrandSAMember 2025-11-30 0000783740 mstx:C000006941Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006941Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000006941Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000006941Member mstx:ResonaHoldingsIncMember 2025-11-30 0000783740 mstx:C000006941Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000006941Member mstx:TaiwanSemiconductorManufacturingCoLtdADRMember 2025-11-30 0000783740 mstx:C000006941Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000006941Member country:US 2025-11-30 0000783740 mstx:C000006942Member 2025-11-30 0000783740 mstx:C000006942Member mstx:AIBGroupPLCMember 2025-11-30 0000783740 mstx:C000006942Member country:CA 2025-11-30 0000783740 mstx:C000006942Member mstx:CaixaBankSAMember 2025-11-30 0000783740 mstx:C000006942Member country:CH 2025-11-30 0000783740 mstx:C000006942Member country:DE 2025-11-30 0000783740 mstx:C000006942Member mstx:DeutscheBoerseAGMember 2025-11-30 0000783740 mstx:C000006942Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000006942Member country:ES 2025-11-30 0000783740 mstx:C000006942Member country:FR 2025-11-30 0000783740 mstx:C000006942Member mstx:FrancoNevadaCorpMember 2025-11-30 0000783740 mstx:C000006942Member country:GB 2025-11-30 0000783740 mstx:C000006942Member country:IE 2025-11-30 0000783740 mstx:C000006942Member country:JP 2025-11-30 0000783740 mstx:C000006942Member mstx:LegrandSAMember 2025-11-30 0000783740 mstx:C000006942Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006942Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000006942Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000006942Member mstx:ResonaHoldingsIncMember 2025-11-30 0000783740 mstx:C000006942Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000006942Member mstx:TaiwanSemiconductorManufacturingCoLtdADRMember 2025-11-30 0000783740 mstx:C000006942Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000006942Member country:US 2025-11-30 0000783740 mstx:C000006943Member 2025-11-30 0000783740 mstx:C000006943Member mstx:AIBGroupPLCMember 2025-11-30 0000783740 mstx:C000006943Member country:CA 2025-11-30 0000783740 mstx:C000006943Member mstx:CaixaBankSAMember 2025-11-30 0000783740 mstx:C000006943Member country:CH 2025-11-30 0000783740 mstx:C000006943Member country:DE 2025-11-30 0000783740 mstx:C000006943Member mstx:DeutscheBoerseAGMember 2025-11-30 0000783740 mstx:C000006943Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000006943Member country:ES 2025-11-30 0000783740 mstx:C000006943Member country:FR 2025-11-30 0000783740 mstx:C000006943Member mstx:FrancoNevadaCorpMember 2025-11-30 0000783740 mstx:C000006943Member country:GB 2025-11-30 0000783740 mstx:C000006943Member country:IE 2025-11-30 0000783740 mstx:C000006943Member country:JP 2025-11-30 0000783740 mstx:C000006943Member mstx:LegrandSAMember 2025-11-30 0000783740 mstx:C000006943Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006943Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000006943Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000006943Member mstx:ResonaHoldingsIncMember 2025-11-30 0000783740 mstx:C000006943Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000006943Member mstx:TaiwanSemiconductorManufacturingCoLtdADRMember 2025-11-30 0000783740 mstx:C000006943Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000006943Member country:US 2025-11-30 0000783740 mstx:C000006944Member 2025-11-30 0000783740 mstx:C000006944Member mstx:AIBGroupPLCMember 2025-11-30 0000783740 mstx:C000006944Member country:CA 2025-11-30 0000783740 mstx:C000006944Member mstx:CaixaBankSAMember 2025-11-30 0000783740 mstx:C000006944Member country:CH 2025-11-30 0000783740 mstx:C000006944Member country:DE 2025-11-30 0000783740 mstx:C000006944Member mstx:DeutscheBoerseAGMember 2025-11-30 0000783740 mstx:C000006944Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000006944Member country:ES 2025-11-30 0000783740 mstx:C000006944Member country:FR 2025-11-30 0000783740 mstx:C000006944Member mstx:FrancoNevadaCorpMember 2025-11-30 0000783740 mstx:C000006944Member country:GB 2025-11-30 0000783740 mstx:C000006944Member country:IE 2025-11-30 0000783740 mstx:C000006944Member country:JP 2025-11-30 0000783740 mstx:C000006944Member mstx:LegrandSAMember 2025-11-30 0000783740 mstx:C000006944Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000006944Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000006944Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000006944Member mstx:ResonaHoldingsIncMember 2025-11-30 0000783740 mstx:C000006944Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000006944Member mstx:TaiwanSemiconductorManufacturingCoLtdADRMember 2025-11-30 0000783740 mstx:C000006944Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000006944Member country:US 2025-11-30 0000783740 mstx:C000034484Member 2025-11-30 0000783740 mstx:C000034484Member mstx:AgnicoEagleMinesLtdMember 2025-11-30 0000783740 mstx:C000034484Member mstx:AIAGroupLtdMember 2025-11-30 0000783740 mstx:C000034484Member mstx:AstraZenecaPLCMember 2025-11-30 0000783740 mstx:C000034484Member country:CA 2025-11-30 0000783740 mstx:C000034484Member country:CH 2025-11-30 0000783740 mstx:C000034484Member country:CN 2025-11-30 0000783740 mstx:C000034484Member country:DE 2025-11-30 0000783740 mstx:C000034484Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000034484Member country:FR 2025-11-30 0000783740 mstx:C000034484Member country:GB 2025-11-30 0000783740 mstx:C000034484Member mstx:HitachiLtdMember 2025-11-30 0000783740 mstx:C000034484Member country:JP 2025-11-30 0000783740 mstx:C000034484Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000034484Member mstx:NestleSAMember 2025-11-30 0000783740 mstx:C000034484Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000034484Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000034484Member mstx:SAPSEMember 2025-11-30 0000783740 mstx:C000034484Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000034484Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000034484Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000034484Member country:TW 2025-11-30 0000783740 mstx:C000034484Member country:US 2025-11-30 0000783740 mstx:C000034485Member 2025-11-30 0000783740 mstx:C000034485Member mstx:AIBGroupPLCMember 2025-11-30 0000783740 mstx:C000034485Member country:CA 2025-11-30 0000783740 mstx:C000034485Member mstx:CaixaBankSAMember 2025-11-30 0000783740 mstx:C000034485Member country:CH 2025-11-30 0000783740 mstx:C000034485Member country:DE 2025-11-30 0000783740 mstx:C000034485Member mstx:DeutscheBoerseAGMember 2025-11-30 0000783740 mstx:C000034485Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000034485Member country:ES 2025-11-30 0000783740 mstx:C000034485Member country:FR 2025-11-30 0000783740 mstx:C000034485Member mstx:FrancoNevadaCorpMember 2025-11-30 0000783740 mstx:C000034485Member country:GB 2025-11-30 0000783740 mstx:C000034485Member country:IE 2025-11-30 0000783740 mstx:C000034485Member country:JP 2025-11-30 0000783740 mstx:C000034485Member mstx:LegrandSAMember 2025-11-30 0000783740 mstx:C000034485Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000034485Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000034485Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000034485Member mstx:ResonaHoldingsIncMember 2025-11-30 0000783740 mstx:C000034485Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000034485Member mstx:TaiwanSemiconductorManufacturingCoLtdADRMember 2025-11-30 0000783740 mstx:C000034485Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000034485Member country:US 2025-11-30 0000783740 mstx:C000071424Member 2025-11-30 0000783740 mstx:C000071424Member mstx:AlibabaGroupHoldingLtdMember 2025-11-30 0000783740 mstx:C000071424Member mstx:ASETechnologyHoldingCoLtdMember 2025-11-30 0000783740 mstx:C000071424Member country:BR 2025-11-30 0000783740 mstx:C000071424Member mstx:ChinaConstructionBankCorpMember 2025-11-30 0000783740 mstx:C000071424Member country:CN 2025-11-30 0000783740 mstx:C000071424Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071424Member mstx:HDFCBankLtdMember 2025-11-30 0000783740 mstx:C000071424Member country:HK 2025-11-30 0000783740 mstx:C000071424Member mstx:HonHaiPrecisionIndustryCoLtdMember 2025-11-30 0000783740 mstx:C000071424Member country:ID 2025-11-30 0000783740 mstx:C000071424Member country:IN 2025-11-30 0000783740 mstx:C000071424Member country:KR 2025-11-30 0000783740 mstx:C000071424Member mstx:KweichowMoutaiCoLtdAMember 2025-11-30 0000783740 mstx:C000071424Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071424Member country:MX 2025-11-30 0000783740 mstx:C000071424Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071424Member mstx:RelianceIndustriesLtdMember 2025-11-30 0000783740 mstx:C000071424Member mstx:SamsungElectronicsCoLtdMember 2025-11-30 0000783740 mstx:C000071424Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000071424Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000071424Member country:TW 2025-11-30 0000783740 mstx:C000071424Member country:US 2025-11-30 0000783740 mstx:C000071425Member 2025-11-30 0000783740 mstx:C000071425Member mstx:AlibabaGroupHoldingLtdMember 2025-11-30 0000783740 mstx:C000071425Member mstx:ASETechnologyHoldingCoLtdMember 2025-11-30 0000783740 mstx:C000071425Member country:BR 2025-11-30 0000783740 mstx:C000071425Member mstx:ChinaConstructionBankCorpMember 2025-11-30 0000783740 mstx:C000071425Member country:CN 2025-11-30 0000783740 mstx:C000071425Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071425Member mstx:HDFCBankLtdMember 2025-11-30 0000783740 mstx:C000071425Member country:HK 2025-11-30 0000783740 mstx:C000071425Member mstx:HonHaiPrecisionIndustryCoLtdMember 2025-11-30 0000783740 mstx:C000071425Member country:ID 2025-11-30 0000783740 mstx:C000071425Member country:IN 2025-11-30 0000783740 mstx:C000071425Member country:KR 2025-11-30 0000783740 mstx:C000071425Member mstx:KweichowMoutaiCoLtdAMember 2025-11-30 0000783740 mstx:C000071425Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071425Member country:MX 2025-11-30 0000783740 mstx:C000071425Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071425Member mstx:RelianceIndustriesLtdMember 2025-11-30 0000783740 mstx:C000071425Member mstx:SamsungElectronicsCoLtdMember 2025-11-30 0000783740 mstx:C000071425Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000071425Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000071425Member country:TW 2025-11-30 0000783740 mstx:C000071425Member country:US 2025-11-30 0000783740 mstx:C000071426Member 2025-11-30 0000783740 mstx:C000071426Member mstx:AlibabaGroupHoldingLtdMember 2025-11-30 0000783740 mstx:C000071426Member mstx:ASETechnologyHoldingCoLtdMember 2025-11-30 0000783740 mstx:C000071426Member country:BR 2025-11-30 0000783740 mstx:C000071426Member mstx:ChinaConstructionBankCorpMember 2025-11-30 0000783740 mstx:C000071426Member country:CN 2025-11-30 0000783740 mstx:C000071426Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071426Member mstx:HDFCBankLtdMember 2025-11-30 0000783740 mstx:C000071426Member country:HK 2025-11-30 0000783740 mstx:C000071426Member mstx:HonHaiPrecisionIndustryCoLtdMember 2025-11-30 0000783740 mstx:C000071426Member country:ID 2025-11-30 0000783740 mstx:C000071426Member country:IN 2025-11-30 0000783740 mstx:C000071426Member country:KR 2025-11-30 0000783740 mstx:C000071426Member mstx:KweichowMoutaiCoLtdAMember 2025-11-30 0000783740 mstx:C000071426Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071426Member country:MX 2025-11-30 0000783740 mstx:C000071426Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071426Member mstx:RelianceIndustriesLtdMember 2025-11-30 0000783740 mstx:C000071426Member mstx:SamsungElectronicsCoLtdMember 2025-11-30 0000783740 mstx:C000071426Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000071426Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000071426Member country:TW 2025-11-30 0000783740 mstx:C000071426Member country:US 2025-11-30 0000783740 mstx:C000071427Member 2025-11-30 0000783740 mstx:C000071427Member mstx:AlibabaGroupHoldingLtdMember 2025-11-30 0000783740 mstx:C000071427Member mstx:ASETechnologyHoldingCoLtdMember 2025-11-30 0000783740 mstx:C000071427Member country:BR 2025-11-30 0000783740 mstx:C000071427Member mstx:ChinaConstructionBankCorpMember 2025-11-30 0000783740 mstx:C000071427Member country:CN 2025-11-30 0000783740 mstx:C000071427Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071427Member mstx:HDFCBankLtdMember 2025-11-30 0000783740 mstx:C000071427Member country:HK 2025-11-30 0000783740 mstx:C000071427Member mstx:HonHaiPrecisionIndustryCoLtdMember 2025-11-30 0000783740 mstx:C000071427Member country:ID 2025-11-30 0000783740 mstx:C000071427Member country:IN 2025-11-30 0000783740 mstx:C000071427Member country:KR 2025-11-30 0000783740 mstx:C000071427Member mstx:KweichowMoutaiCoLtdAMember 2025-11-30 0000783740 mstx:C000071427Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071427Member country:MX 2025-11-30 0000783740 mstx:C000071427Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071427Member mstx:RelianceIndustriesLtdMember 2025-11-30 0000783740 mstx:C000071427Member mstx:SamsungElectronicsCoLtdMember 2025-11-30 0000783740 mstx:C000071427Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000071427Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000071427Member country:TW 2025-11-30 0000783740 mstx:C000071427Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000071428Member 2025-11-30 0000783740 mstx:C000071428Member mstx:AlibabaGroupHoldingLtdMember 2025-11-30 0000783740 mstx:C000071428Member mstx:ASETechnologyHoldingCoLtdMember 2025-11-30 0000783740 mstx:C000071428Member country:BR 2025-11-30 0000783740 mstx:C000071428Member mstx:ChinaConstructionBankCorpMember 2025-11-30 0000783740 mstx:C000071428Member country:CN 2025-11-30 0000783740 mstx:C000071428Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071428Member mstx:HDFCBankLtdMember 2025-11-30 0000783740 mstx:C000071428Member country:HK 2025-11-30 0000783740 mstx:C000071428Member mstx:HonHaiPrecisionIndustryCoLtdMember 2025-11-30 0000783740 mstx:C000071428Member country:ID 2025-11-30 0000783740 mstx:C000071428Member country:IN 2025-11-30 0000783740 mstx:C000071428Member country:KR 2025-11-30 0000783740 mstx:C000071428Member mstx:KweichowMoutaiCoLtdAMember 2025-11-30 0000783740 mstx:C000071428Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071428Member country:MX 2025-11-30 0000783740 mstx:C000071428Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071428Member mstx:RelianceIndustriesLtdMember 2025-11-30 0000783740 mstx:C000071428Member mstx:SamsungElectronicsCoLtdMember 2025-11-30 0000783740 mstx:C000071428Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000071428Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000071428Member country:TW 2025-11-30 0000783740 mstx:C000071428Member country:US 2025-11-30 0000783740 mstx:C000071430Member 2025-11-30 0000783740 mstx:C000071430Member mstx:AgnicoEagleMinesLtdMember 2025-11-30 0000783740 mstx:C000071430Member mstx:AIAGroupLtdMember 2025-11-30 0000783740 mstx:C000071430Member mstx:AstraZenecaPLCMember 2025-11-30 0000783740 mstx:C000071430Member country:CA 2025-11-30 0000783740 mstx:C000071430Member country:CH 2025-11-30 0000783740 mstx:C000071430Member country:CN 2025-11-30 0000783740 mstx:C000071430Member country:DE 2025-11-30 0000783740 mstx:C000071430Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071430Member country:FR 2025-11-30 0000783740 mstx:C000071430Member country:GB 2025-11-30 0000783740 mstx:C000071430Member mstx:HitachiLtdMember 2025-11-30 0000783740 mstx:C000071430Member country:JP 2025-11-30 0000783740 mstx:C000071430Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071430Member mstx:NestleSAMember 2025-11-30 0000783740 mstx:C000071430Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071430Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000071430Member mstx:SAPSEMember 2025-11-30 0000783740 mstx:C000071430Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000071430Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000071430Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000071430Member country:TW 2025-11-30 0000783740 mstx:C000071430Member country:US 2025-11-30 0000783740 mstx:C000071431Member 2025-11-30 0000783740 mstx:C000071431Member mstx:AgnicoEagleMinesLtdMember 2025-11-30 0000783740 mstx:C000071431Member mstx:AIAGroupLtdMember 2025-11-30 0000783740 mstx:C000071431Member mstx:AstraZenecaPLCMember 2025-11-30 0000783740 mstx:C000071431Member country:CA 2025-11-30 0000783740 mstx:C000071431Member country:CH 2025-11-30 0000783740 mstx:C000071431Member country:CN 2025-11-30 0000783740 mstx:C000071431Member country:DE 2025-11-30 0000783740 mstx:C000071431Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071431Member country:FR 2025-11-30 0000783740 mstx:C000071431Member country:GB 2025-11-30 0000783740 mstx:C000071431Member mstx:HitachiLtdMember 2025-11-30 0000783740 mstx:C000071431Member country:JP 2025-11-30 0000783740 mstx:C000071431Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071431Member mstx:NestleSAMember 2025-11-30 0000783740 mstx:C000071431Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071431Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000071431Member mstx:SAPSEMember 2025-11-30 0000783740 mstx:C000071431Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000071431Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000071431Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000071431Member country:TW 2025-11-30 0000783740 mstx:C000071431Member country:US 2025-11-30 0000783740 mstx:C000071432Member 2025-11-30 0000783740 mstx:C000071432Member mstx:AgnicoEagleMinesLtdMember 2025-11-30 0000783740 mstx:C000071432Member mstx:AIAGroupLtdMember 2025-11-30 0000783740 mstx:C000071432Member mstx:AstraZenecaPLCMember 2025-11-30 0000783740 mstx:C000071432Member country:CA 2025-11-30 0000783740 mstx:C000071432Member country:CH 2025-11-30 0000783740 mstx:C000071432Member country:CN 2025-11-30 0000783740 mstx:C000071432Member country:DE 2025-11-30 0000783740 mstx:C000071432Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071432Member country:FR 2025-11-30 0000783740 mstx:C000071432Member country:GB 2025-11-30 0000783740 mstx:C000071432Member mstx:HitachiLtdMember 2025-11-30 0000783740 mstx:C000071432Member country:JP 2025-11-30 0000783740 mstx:C000071432Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071432Member mstx:NestleSAMember 2025-11-30 0000783740 mstx:C000071432Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071432Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000071432Member mstx:SAPSEMember 2025-11-30 0000783740 mstx:C000071432Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000071432Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000071432Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000071432Member country:TW 2025-11-30 0000783740 mstx:C000071432Member country:US 2025-11-30 0000783740 mstx:C000071433Member 2025-11-30 0000783740 mstx:C000071433Member mstx:AgnicoEagleMinesLtdMember 2025-11-30 0000783740 mstx:C000071433Member mstx:AIAGroupLtdMember 2025-11-30 0000783740 mstx:C000071433Member mstx:AstraZenecaPLCMember 2025-11-30 0000783740 mstx:C000071433Member country:CA 2025-11-30 0000783740 mstx:C000071433Member country:CH 2025-11-30 0000783740 mstx:C000071433Member country:CN 2025-11-30 0000783740 mstx:C000071433Member country:DE 2025-11-30 0000783740 mstx:C000071433Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071433Member country:FR 2025-11-30 0000783740 mstx:C000071433Member country:GB 2025-11-30 0000783740 mstx:C000071433Member mstx:HitachiLtdMember 2025-11-30 0000783740 mstx:C000071433Member country:JP 2025-11-30 0000783740 mstx:C000071433Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071433Member mstx:NestleSAMember 2025-11-30 0000783740 mstx:C000071433Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071433Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000071433Member mstx:SAPSEMember 2025-11-30 0000783740 mstx:C000071433Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000071433Member mstx:TaiwanSemiconductorManufacturingCoLtdMember 2025-11-30 0000783740 mstx:C000071433Member mstx:TencentHoldingsLtdMember 2025-11-30 0000783740 mstx:C000071433Member country:TW 2025-11-30 0000783740 mstx:C000071433Member country:US 2025-11-30 0000783740 mstx:C000071434Member 2025-11-30 0000783740 mstx:C000071434Member mstx:AIBGroupPLCMember 2025-11-30 0000783740 mstx:C000071434Member country:CA 2025-11-30 0000783740 mstx:C000071434Member mstx:CaixaBankSAMember 2025-11-30 0000783740 mstx:C000071434Member country:CH 2025-11-30 0000783740 mstx:C000071434Member country:DE 2025-11-30 0000783740 mstx:C000071434Member mstx:DeutscheBoerseAGMember 2025-11-30 0000783740 mstx:C000071434Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071434Member country:ES 2025-11-30 0000783740 mstx:C000071434Member country:FR 2025-11-30 0000783740 mstx:C000071434Member mstx:FrancoNevadaCorpMember 2025-11-30 0000783740 mstx:C000071434Member country:GB 2025-11-30 0000783740 mstx:C000071434Member country:IE 2025-11-30 0000783740 mstx:C000071434Member country:JP 2025-11-30 0000783740 mstx:C000071434Member mstx:LegrandSAMember 2025-11-30 0000783740 mstx:C000071434Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071434Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000071434Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071434Member mstx:ResonaHoldingsIncMember 2025-11-30 0000783740 mstx:C000071434Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000071434Member mstx:TaiwanSemiconductorManufacturingCoLtdADRMember 2025-11-30 0000783740 mstx:C000071434Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000071434Member country:US 2025-11-30 0000783740 mstx:C000071435Member 2025-11-30 0000783740 mstx:C000071435Member mstx:AIBGroupPLCMember 2025-11-30 0000783740 mstx:C000071435Member country:CA 2025-11-30 0000783740 mstx:C000071435Member mstx:CaixaBankSAMember 2025-11-30 0000783740 mstx:C000071435Member country:CH 2025-11-30 0000783740 mstx:C000071435Member country:DE 2025-11-30 0000783740 mstx:C000071435Member mstx:DeutscheBoerseAGMember 2025-11-30 0000783740 mstx:C000071435Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071435Member country:ES 2025-11-30 0000783740 mstx:C000071435Member country:FR 2025-11-30 0000783740 mstx:C000071435Member mstx:FrancoNevadaCorpMember 2025-11-30 0000783740 mstx:C000071435Member country:GB 2025-11-30 0000783740 mstx:C000071435Member country:IE 2025-11-30 0000783740 mstx:C000071435Member country:JP 2025-11-30 0000783740 mstx:C000071435Member mstx:LegrandSAMember 2025-11-30 0000783740 mstx:C000071435Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071435Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000071435Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071435Member mstx:ResonaHoldingsIncMember 2025-11-30 0000783740 mstx:C000071435Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000071435Member mstx:TaiwanSemiconductorManufacturingCoLtdADRMember 2025-11-30 0000783740 mstx:C000071435Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000071435Member country:US 2025-11-30 0000783740 mstx:C000071436Member 2025-11-30 0000783740 mstx:C000071436Member mstx:AIBGroupPLCMember 2025-11-30 0000783740 mstx:C000071436Member country:CA 2025-11-30 0000783740 mstx:C000071436Member mstx:CaixaBankSAMember 2025-11-30 0000783740 mstx:C000071436Member country:CH 2025-11-30 0000783740 mstx:C000071436Member country:DE 2025-11-30 0000783740 mstx:C000071436Member mstx:DeutscheBoerseAGMember 2025-11-30 0000783740 mstx:C000071436Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071436Member country:ES 2025-11-30 0000783740 mstx:C000071436Member country:FR 2025-11-30 0000783740 mstx:C000071436Member mstx:FrancoNevadaCorpMember 2025-11-30 0000783740 mstx:C000071436Member country:GB 2025-11-30 0000783740 mstx:C000071436Member country:IE 2025-11-30 0000783740 mstx:C000071436Member country:JP 2025-11-30 0000783740 mstx:C000071436Member mstx:LegrandSAMember 2025-11-30 0000783740 mstx:C000071436Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071436Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000071436Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071436Member mstx:ResonaHoldingsIncMember 2025-11-30 0000783740 mstx:C000071436Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000071436Member mstx:TaiwanSemiconductorManufacturingCoLtdADRMember 2025-11-30 0000783740 mstx:C000071436Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000071436Member country:US 2025-11-30 0000783740 mstx:C000071437Member 2025-11-30 0000783740 mstx:C000071437Member mstx:AIBGroupPLCMember 2025-11-30 0000783740 mstx:C000071437Member country:CA 2025-11-30 0000783740 mstx:C000071437Member mstx:CaixaBankSAMember 2025-11-30 0000783740 mstx:C000071437Member country:CH 2025-11-30 0000783740 mstx:C000071437Member country:DE 2025-11-30 0000783740 mstx:C000071437Member mstx:DeutscheBoerseAGMember 2025-11-30 0000783740 mstx:C000071437Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000071437Member country:ES 2025-11-30 0000783740 mstx:C000071437Member country:FR 2025-11-30 0000783740 mstx:C000071437Member mstx:FrancoNevadaCorpMember 2025-11-30 0000783740 mstx:C000071437Member country:GB 2025-11-30 0000783740 mstx:C000071437Member country:IE 2025-11-30 0000783740 mstx:C000071437Member country:JP 2025-11-30 0000783740 mstx:C000071437Member mstx:LegrandSAMember 2025-11-30 0000783740 mstx:C000071437Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000071437Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000071437Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000071437Member mstx:ResonaHoldingsIncMember 2025-11-30 0000783740 mstx:C000071437Member mstx:SchneiderElectricSEMember 2025-11-30 0000783740 mstx:C000071437Member mstx:TaiwanSemiconductorManufacturingCoLtdADRMember 2025-11-30 0000783740 mstx:C000071437Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000071437Member country:US 2025-11-30 0000783740 mstx:C000142775Member 2025-11-30 0000783740 mstx:C000142775Member us-gaap:CashAndCashEquivalentsMember 2025-11-30 0000783740 mstx:C000142775Member mstx:DownsideHedgeSMember 2025-11-30 0000783740 mstx:C000142775Member mstx:LimitedMaturityUSTreasuryNotesMember 2025-11-30 0000783740 mstx:C000142775Member mstx:MFSGrowthFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142775Member mstx:MFSInternationalEquityFundMember 2025-11-30 0000783740 mstx:C000142775Member mstx:MFSValueFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142775Member mstx:MiniMSCIEAFEIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142775Member mstx:MiniRussell1000GrowthFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142775Member mstx:MiniRussell1000ValueIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142775Member mstx:NetEquityExposureMember 2025-11-30 0000783740 mstx:C000142775Member mstx:NetEquivalentEquityExposureActiveSecuritySelectionMember 2025-11-30 0000783740 mstx:C000142775Member mstx:NetEquivalentEquityExposureDerivativeOverlayPositionsMember 2025-11-30 0000783740 mstx:C000142775Member mstx:NetEquivalentEquityExposureMember 2025-11-30 0000783740 mstx:C000142775Member us-gaap:OtherInvestmentsMember 2025-11-30 0000783740 mstx:C000142775Member mstx:StandardAndPoorS500IndexOption540000PUTJUN1826Member 2025-11-30 0000783740 mstx:C000142775Member mstx:StandardAndPoorS500IndexOption540000PUTSEP1826Member 2025-11-30 0000783740 mstx:C000142775Member mstx:StandardAndPoorS500IndexOption557500PUTMAR2026Member 2025-11-30 0000783740 mstx:C000142775Member mstx:StandardAndPoorsIndexOptionPUTSMember 2025-11-30 0000783740 mstx:C000142776Member 2025-11-30 0000783740 mstx:C000142776Member us-gaap:CashAndCashEquivalentsMember 2025-11-30 0000783740 mstx:C000142776Member mstx:DownsideHedgeSMember 2025-11-30 0000783740 mstx:C000142776Member mstx:LimitedMaturityUSTreasuryNotesMember 2025-11-30 0000783740 mstx:C000142776Member mstx:MFSGrowthFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142776Member mstx:MFSInternationalEquityFundMember 2025-11-30 0000783740 mstx:C000142776Member mstx:MFSValueFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142776Member mstx:MiniMSCIEAFEIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142776Member mstx:MiniRussell1000GrowthFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142776Member mstx:MiniRussell1000ValueIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142776Member mstx:NetEquityExposureMember 2025-11-30 0000783740 mstx:C000142776Member mstx:NetEquivalentEquityExposureActiveSecuritySelectionMember 2025-11-30 0000783740 mstx:C000142776Member mstx:NetEquivalentEquityExposureDerivativeOverlayPositionsMember 2025-11-30 0000783740 mstx:C000142776Member mstx:NetEquivalentEquityExposureMember 2025-11-30 0000783740 mstx:C000142776Member us-gaap:OtherInvestmentsMember 2025-11-30 0000783740 mstx:C000142776Member mstx:StandardAndPoorS500IndexOption540000PUTJUN1826Member 2025-11-30 0000783740 mstx:C000142776Member mstx:StandardAndPoorS500IndexOption540000PUTSEP1826Member 2025-11-30 0000783740 mstx:C000142776Member mstx:StandardAndPoorS500IndexOption557500PUTMAR2026Member 2025-11-30 0000783740 mstx:C000142776Member mstx:StandardAndPoorsIndexOptionPUTSMember 2025-11-30 0000783740 mstx:C000142777Member 2025-11-30 0000783740 mstx:C000142777Member us-gaap:CashAndCashEquivalentsMember 2025-11-30 0000783740 mstx:C000142777Member mstx:DownsideHedgeSMember 2025-11-30 0000783740 mstx:C000142777Member mstx:LimitedMaturityUSTreasuryNotesMember 2025-11-30 0000783740 mstx:C000142777Member mstx:MFSGrowthFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142777Member mstx:MFSInternationalEquityFundMember 2025-11-30 0000783740 mstx:C000142777Member mstx:MFSValueFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142777Member mstx:MiniMSCIEAFEIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142777Member mstx:MiniRussell1000GrowthFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142777Member mstx:MiniRussell1000ValueIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142777Member mstx:NetEquityExposureMember 2025-11-30 0000783740 mstx:C000142777Member mstx:NetEquivalentEquityExposureActiveSecuritySelectionMember 2025-11-30 0000783740 mstx:C000142777Member mstx:NetEquivalentEquityExposureDerivativeOverlayPositionsMember 2025-11-30 0000783740 mstx:C000142777Member mstx:NetEquivalentEquityExposureMember 2025-11-30 0000783740 mstx:C000142777Member us-gaap:OtherInvestmentsMember 2025-11-30 0000783740 mstx:C000142777Member mstx:StandardAndPoorS500IndexOption540000PUTJUN1826Member 2025-11-30 0000783740 mstx:C000142777Member mstx:StandardAndPoorS500IndexOption540000PUTSEP1826Member 2025-11-30 0000783740 mstx:C000142777Member mstx:StandardAndPoorS500IndexOption557500PUTMAR2026Member 2025-11-30 0000783740 mstx:C000142777Member mstx:StandardAndPoorsIndexOptionPUTSMember 2025-11-30 0000783740 mstx:C000142778Member 2025-11-30 0000783740 mstx:C000142778Member us-gaap:CashAndCashEquivalentsMember 2025-11-30 0000783740 mstx:C000142778Member mstx:DownsideHedgeSMember 2025-11-30 0000783740 mstx:C000142778Member mstx:LimitedMaturityUSTreasuryNotesMember 2025-11-30 0000783740 mstx:C000142778Member mstx:MFSGrowthFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142778Member mstx:MFSInternationalEquityFundMember 2025-11-30 0000783740 mstx:C000142778Member mstx:MFSValueFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142778Member mstx:MiniMSCIEAFEIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142778Member mstx:MiniRussell1000GrowthFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142778Member mstx:MiniRussell1000ValueIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142778Member mstx:NetEquityExposureMember 2025-11-30 0000783740 mstx:C000142778Member mstx:NetEquivalentEquityExposureActiveSecuritySelectionMember 2025-11-30 0000783740 mstx:C000142778Member mstx:NetEquivalentEquityExposureDerivativeOverlayPositionsMember 2025-11-30 0000783740 mstx:C000142778Member mstx:NetEquivalentEquityExposureMember 2025-11-30 0000783740 mstx:C000142778Member us-gaap:OtherInvestmentsMember 2025-11-30 0000783740 mstx:C000142778Member mstx:StandardAndPoorS500IndexOption540000PUTJUN1826Member 2025-11-30 0000783740 mstx:C000142778Member mstx:StandardAndPoorS500IndexOption540000PUTSEP1826Member 2025-11-30 0000783740 mstx:C000142778Member mstx:StandardAndPoorS500IndexOption557500PUTMAR2026Member 2025-11-30 0000783740 mstx:C000142778Member mstx:StandardAndPoorsIndexOptionPUTSMember 2025-11-30 0000783740 mstx:C000142779Member 2025-11-30 0000783740 mstx:C000142779Member us-gaap:CashAndCashEquivalentsMember 2025-11-30 0000783740 mstx:C000142779Member mstx:DownsideHedgeSMember 2025-11-30 0000783740 mstx:C000142779Member mstx:LimitedMaturityUSTreasuryNotesMember 2025-11-30 0000783740 mstx:C000142779Member mstx:MFSGrowthFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142779Member mstx:MFSInternationalEquityFundMember 2025-11-30 0000783740 mstx:C000142779Member mstx:MFSValueFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142779Member mstx:MiniMSCIEAFEIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142779Member mstx:MiniRussell1000GrowthFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142779Member mstx:MiniRussell1000ValueIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142779Member mstx:NetEquityExposureMember 2025-11-30 0000783740 mstx:C000142779Member mstx:NetEquivalentEquityExposureActiveSecuritySelectionMember 2025-11-30 0000783740 mstx:C000142779Member mstx:NetEquivalentEquityExposureDerivativeOverlayPositionsMember 2025-11-30 0000783740 mstx:C000142779Member mstx:NetEquivalentEquityExposureMember 2025-11-30 0000783740 mstx:C000142779Member us-gaap:OtherInvestmentsMember 2025-11-30 0000783740 mstx:C000142779Member mstx:StandardAndPoorS500IndexOption540000PUTJUN1826Member 2025-11-30 0000783740 mstx:C000142779Member mstx:StandardAndPoorS500IndexOption540000PUTSEP1826Member 2025-11-30 0000783740 mstx:C000142779Member mstx:StandardAndPoorS500IndexOption557500PUTMAR2026Member 2025-11-30 0000783740 mstx:C000142779Member mstx:StandardAndPoorsIndexOptionPUTSMember 2025-11-30 0000783740 mstx:C000142780Member 2025-11-30 0000783740 mstx:C000142780Member us-gaap:CashAndCashEquivalentsMember 2025-11-30 0000783740 mstx:C000142780Member mstx:DownsideHedgeSMember 2025-11-30 0000783740 mstx:C000142780Member mstx:LimitedMaturityUSTreasuryNotesMember 2025-11-30 0000783740 mstx:C000142780Member mstx:MFSGrowthFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142780Member mstx:MFSInternationalEquityFundMember 2025-11-30 0000783740 mstx:C000142780Member mstx:MFSValueFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142780Member mstx:MiniMSCIEAFEIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142780Member mstx:MiniRussell1000GrowthFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142780Member mstx:MiniRussell1000ValueIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142780Member mstx:NetEquityExposureMember 2025-11-30 0000783740 mstx:C000142780Member mstx:NetEquivalentEquityExposureActiveSecuritySelectionMember 2025-11-30 0000783740 mstx:C000142780Member mstx:NetEquivalentEquityExposureDerivativeOverlayPositionsMember 2025-11-30 0000783740 mstx:C000142780Member mstx:NetEquivalentEquityExposureMember 2025-11-30 0000783740 mstx:C000142780Member us-gaap:OtherInvestmentsMember 2025-11-30 0000783740 mstx:C000142780Member mstx:StandardAndPoorS500IndexOption540000PUTJUN1826Member 2025-11-30 0000783740 mstx:C000142780Member mstx:StandardAndPoorS500IndexOption540000PUTSEP1826Member 2025-11-30 0000783740 mstx:C000142780Member mstx:StandardAndPoorS500IndexOption557500PUTMAR2026Member 2025-11-30 0000783740 mstx:C000142780Member mstx:StandardAndPoorsIndexOptionPUTSMember 2025-11-30 0000783740 mstx:C000142781Member 2025-11-30 0000783740 mstx:C000142781Member us-gaap:CashAndCashEquivalentsMember 2025-11-30 0000783740 mstx:C000142781Member mstx:DownsideHedgeSMember 2025-11-30 0000783740 mstx:C000142781Member mstx:LimitedMaturityUSTreasuryNotesMember 2025-11-30 0000783740 mstx:C000142781Member mstx:MFSGrowthFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142781Member mstx:MFSInternationalEquityFundMember 2025-11-30 0000783740 mstx:C000142781Member mstx:MFSValueFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142781Member mstx:MiniMSCIEAFEIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142781Member mstx:MiniRussell1000GrowthFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142781Member mstx:MiniRussell1000ValueIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142781Member mstx:NetEquityExposureMember 2025-11-30 0000783740 mstx:C000142781Member mstx:NetEquivalentEquityExposureActiveSecuritySelectionMember 2025-11-30 0000783740 mstx:C000142781Member mstx:NetEquivalentEquityExposureDerivativeOverlayPositionsMember 2025-11-30 0000783740 mstx:C000142781Member mstx:NetEquivalentEquityExposureMember 2025-11-30 0000783740 mstx:C000142781Member us-gaap:OtherInvestmentsMember 2025-11-30 0000783740 mstx:C000142781Member mstx:StandardAndPoorS500IndexOption540000PUTJUN1826Member 2025-11-30 0000783740 mstx:C000142781Member mstx:StandardAndPoorS500IndexOption540000PUTSEP1826Member 2025-11-30 0000783740 mstx:C000142781Member mstx:StandardAndPoorS500IndexOption557500PUTMAR2026Member 2025-11-30 0000783740 mstx:C000142781Member mstx:StandardAndPoorsIndexOptionPUTSMember 2025-11-30 0000783740 mstx:C000142782Member 2025-11-30 0000783740 mstx:C000142782Member us-gaap:CashAndCashEquivalentsMember 2025-11-30 0000783740 mstx:C000142782Member mstx:DownsideHedgeSMember 2025-11-30 0000783740 mstx:C000142782Member mstx:LimitedMaturityUSTreasuryNotesMember 2025-11-30 0000783740 mstx:C000142782Member mstx:MFSGrowthFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142782Member mstx:MFSInternationalEquityFundMember 2025-11-30 0000783740 mstx:C000142782Member mstx:MFSValueFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000142782Member mstx:MiniMSCIEAFEIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142782Member mstx:MiniRussell1000GrowthFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142782Member mstx:MiniRussell1000ValueIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000142782Member mstx:NetEquityExposureMember 2025-11-30 0000783740 mstx:C000142782Member mstx:NetEquivalentEquityExposureActiveSecuritySelectionMember 2025-11-30 0000783740 mstx:C000142782Member mstx:NetEquivalentEquityExposureDerivativeOverlayPositionsMember 2025-11-30 0000783740 mstx:C000142782Member mstx:NetEquivalentEquityExposureMember 2025-11-30 0000783740 mstx:C000142782Member us-gaap:OtherInvestmentsMember 2025-11-30 0000783740 mstx:C000142782Member mstx:StandardAndPoorS500IndexOption540000PUTJUN1826Member 2025-11-30 0000783740 mstx:C000142782Member mstx:StandardAndPoorS500IndexOption540000PUTSEP1826Member 2025-11-30 0000783740 mstx:C000142782Member mstx:StandardAndPoorS500IndexOption557500PUTMAR2026Member 2025-11-30 0000783740 mstx:C000142782Member mstx:StandardAndPoorsIndexOptionPUTSMember 2025-11-30 0000783740 mstx:C000160020Member 2025-11-30 0000783740 mstx:C000160020Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160020Member mstx:AlphabetIncCMember 2025-11-30 0000783740 mstx:C000160020Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160020Member mstx:AppleIncMember 2025-11-30 0000783740 mstx:C000160020Member mstx:BroadcomIncMember 2025-11-30 0000783740 mstx:C000160020Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160020Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160020Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160020Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160020Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160020Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160020Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160020Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160020Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160020Member mstx:LamResearchCorpMember 2025-11-30 0000783740 mstx:C000160020Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160020Member mstx:MicrosoftCorpMember 2025-11-30 0000783740 mstx:C000160020Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160020Member mstx:NVIDIACorpMember 2025-11-30 0000783740 mstx:C000160020Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160020Member mstx:TeslaIncMember 2025-11-30 0000783740 mstx:C000160020Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160021Member 2025-11-30 0000783740 mstx:C000160021Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160021Member mstx:AlphabetIncCMember 2025-11-30 0000783740 mstx:C000160021Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160021Member mstx:AppleIncMember 2025-11-30 0000783740 mstx:C000160021Member mstx:BroadcomIncMember 2025-11-30 0000783740 mstx:C000160021Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160021Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160021Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160021Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160021Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160021Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160021Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160021Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160021Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160021Member mstx:LamResearchCorpMember 2025-11-30 0000783740 mstx:C000160021Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160021Member mstx:MicrosoftCorpMember 2025-11-30 0000783740 mstx:C000160021Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160021Member mstx:NVIDIACorpMember 2025-11-30 0000783740 mstx:C000160021Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160021Member mstx:TeslaIncMember 2025-11-30 0000783740 mstx:C000160021Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160022Member 2025-11-30 0000783740 mstx:C000160022Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160022Member mstx:AlphabetIncCMember 2025-11-30 0000783740 mstx:C000160022Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160022Member mstx:AppleIncMember 2025-11-30 0000783740 mstx:C000160022Member mstx:BroadcomIncMember 2025-11-30 0000783740 mstx:C000160022Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160022Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160022Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160022Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160022Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160022Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160022Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160022Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160022Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160022Member mstx:LamResearchCorpMember 2025-11-30 0000783740 mstx:C000160022Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160022Member mstx:MicrosoftCorpMember 2025-11-30 0000783740 mstx:C000160022Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160022Member mstx:NVIDIACorpMember 2025-11-30 0000783740 mstx:C000160022Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160022Member mstx:TeslaIncMember 2025-11-30 0000783740 mstx:C000160022Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160023Member 2025-11-30 0000783740 mstx:C000160023Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160023Member mstx:AlphabetIncCMember 2025-11-30 0000783740 mstx:C000160023Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160023Member mstx:AppleIncMember 2025-11-30 0000783740 mstx:C000160023Member mstx:BroadcomIncMember 2025-11-30 0000783740 mstx:C000160023Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160023Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160023Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160023Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160023Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160023Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160023Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160023Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160023Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160023Member mstx:LamResearchCorpMember 2025-11-30 0000783740 mstx:C000160023Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160023Member mstx:MicrosoftCorpMember 2025-11-30 0000783740 mstx:C000160023Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160023Member mstx:NVIDIACorpMember 2025-11-30 0000783740 mstx:C000160023Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160023Member mstx:TeslaIncMember 2025-11-30 0000783740 mstx:C000160023Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160024Member 2025-11-30 0000783740 mstx:C000160024Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160024Member mstx:AlphabetIncCMember 2025-11-30 0000783740 mstx:C000160024Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160024Member mstx:AppleIncMember 2025-11-30 0000783740 mstx:C000160024Member mstx:BroadcomIncMember 2025-11-30 0000783740 mstx:C000160024Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160024Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160024Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160024Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160024Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160024Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160024Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160024Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160024Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160024Member mstx:LamResearchCorpMember 2025-11-30 0000783740 mstx:C000160024Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160024Member mstx:MicrosoftCorpMember 2025-11-30 0000783740 mstx:C000160024Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160024Member mstx:NVIDIACorpMember 2025-11-30 0000783740 mstx:C000160024Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160024Member mstx:TeslaIncMember 2025-11-30 0000783740 mstx:C000160024Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160025Member 2025-11-30 0000783740 mstx:C000160025Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160025Member mstx:AlphabetIncCMember 2025-11-30 0000783740 mstx:C000160025Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160025Member mstx:AppleIncMember 2025-11-30 0000783740 mstx:C000160025Member mstx:BroadcomIncMember 2025-11-30 0000783740 mstx:C000160025Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160025Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160025Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160025Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160025Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160025Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160025Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160025Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160025Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160025Member mstx:LamResearchCorpMember 2025-11-30 0000783740 mstx:C000160025Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160025Member mstx:MicrosoftCorpMember 2025-11-30 0000783740 mstx:C000160025Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160025Member mstx:NVIDIACorpMember 2025-11-30 0000783740 mstx:C000160025Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160025Member mstx:TeslaIncMember 2025-11-30 0000783740 mstx:C000160025Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160026Member 2025-11-30 0000783740 mstx:C000160026Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160026Member mstx:AlphabetIncCMember 2025-11-30 0000783740 mstx:C000160026Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160026Member mstx:AppleIncMember 2025-11-30 0000783740 mstx:C000160026Member mstx:BroadcomIncMember 2025-11-30 0000783740 mstx:C000160026Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160026Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160026Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160026Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160026Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160026Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160026Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160026Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160026Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160026Member mstx:LamResearchCorpMember 2025-11-30 0000783740 mstx:C000160026Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160026Member mstx:MicrosoftCorpMember 2025-11-30 0000783740 mstx:C000160026Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160026Member mstx:NVIDIACorpMember 2025-11-30 0000783740 mstx:C000160026Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160026Member mstx:TeslaIncMember 2025-11-30 0000783740 mstx:C000160026Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160027Member 2025-11-30 0000783740 mstx:C000160027Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160027Member mstx:AlphabetIncCMember 2025-11-30 0000783740 mstx:C000160027Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160027Member mstx:AppleIncMember 2025-11-30 0000783740 mstx:C000160027Member mstx:BroadcomIncMember 2025-11-30 0000783740 mstx:C000160027Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160027Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160027Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160027Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160027Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160027Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160027Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160027Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160027Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160027Member mstx:LamResearchCorpMember 2025-11-30 0000783740 mstx:C000160027Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160027Member mstx:MicrosoftCorpMember 2025-11-30 0000783740 mstx:C000160027Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160027Member mstx:NVIDIACorpMember 2025-11-30 0000783740 mstx:C000160027Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160027Member mstx:TeslaIncMember 2025-11-30 0000783740 mstx:C000160027Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160028Member 2025-11-30 0000783740 mstx:C000160028Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160028Member mstx:AlphabetIncCMember 2025-11-30 0000783740 mstx:C000160028Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160028Member mstx:AppleIncMember 2025-11-30 0000783740 mstx:C000160028Member mstx:BroadcomIncMember 2025-11-30 0000783740 mstx:C000160028Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160028Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160028Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160028Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160028Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160028Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160028Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160028Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160028Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160028Member mstx:LamResearchCorpMember 2025-11-30 0000783740 mstx:C000160028Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160028Member mstx:MicrosoftCorpMember 2025-11-30 0000783740 mstx:C000160028Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160028Member mstx:NVIDIACorpMember 2025-11-30 0000783740 mstx:C000160028Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160028Member mstx:TeslaIncMember 2025-11-30 0000783740 mstx:C000160028Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160029Member 2025-11-30 0000783740 mstx:C000160029Member mstx:AdvancedEnergyIndustriesIncMember 2025-11-30 0000783740 mstx:C000160029Member mstx:ArmstrongWorldIndustriesIncMember 2025-11-30 0000783740 mstx:C000160029Member mstx:BancOfCaliforniaIncMember 2025-11-30 0000783740 mstx:C000160029Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160029Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160029Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160029Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160029Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160029Member mstx:EssentialPropertiesRealtyTrustREITMember 2025-11-30 0000783740 mstx:C000160029Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160029Member mstx:FlowserveCorpMember 2025-11-30 0000783740 mstx:C000160029Member mstx:GeneDXHoldingsCorpMember 2025-11-30 0000783740 mstx:C000160029Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160029Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160029Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160029Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160029Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160029Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000160029Member mstx:PortlandGeneralElectricCoMember 2025-11-30 0000783740 mstx:C000160029Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160029Member mstx:TexasCapitalBancsharesIncMember 2025-11-30 0000783740 mstx:C000160029Member mstx:UMBFinancialCorpMember 2025-11-30 0000783740 mstx:C000160029Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160030Member 2025-11-30 0000783740 mstx:C000160030Member mstx:AdvancedEnergyIndustriesIncMember 2025-11-30 0000783740 mstx:C000160030Member mstx:ArmstrongWorldIndustriesIncMember 2025-11-30 0000783740 mstx:C000160030Member mstx:BancOfCaliforniaIncMember 2025-11-30 0000783740 mstx:C000160030Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160030Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160030Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160030Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160030Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160030Member mstx:EssentialPropertiesRealtyTrustREITMember 2025-11-30 0000783740 mstx:C000160030Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160030Member mstx:FlowserveCorpMember 2025-11-30 0000783740 mstx:C000160030Member mstx:GeneDXHoldingsCorpMember 2025-11-30 0000783740 mstx:C000160030Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160030Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160030Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160030Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160030Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160030Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000160030Member mstx:PortlandGeneralElectricCoMember 2025-11-30 0000783740 mstx:C000160030Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160030Member mstx:TexasCapitalBancsharesIncMember 2025-11-30 0000783740 mstx:C000160030Member mstx:UMBFinancialCorpMember 2025-11-30 0000783740 mstx:C000160030Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160031Member 2025-11-30 0000783740 mstx:C000160031Member mstx:AdvancedEnergyIndustriesIncMember 2025-11-30 0000783740 mstx:C000160031Member mstx:ArmstrongWorldIndustriesIncMember 2025-11-30 0000783740 mstx:C000160031Member mstx:BancOfCaliforniaIncMember 2025-11-30 0000783740 mstx:C000160031Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160031Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160031Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160031Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160031Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160031Member mstx:EssentialPropertiesRealtyTrustREITMember 2025-11-30 0000783740 mstx:C000160031Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160031Member mstx:FlowserveCorpMember 2025-11-30 0000783740 mstx:C000160031Member mstx:GeneDXHoldingsCorpMember 2025-11-30 0000783740 mstx:C000160031Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160031Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160031Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160031Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160031Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160031Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000160031Member mstx:PortlandGeneralElectricCoMember 2025-11-30 0000783740 mstx:C000160031Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160031Member mstx:TexasCapitalBancsharesIncMember 2025-11-30 0000783740 mstx:C000160031Member mstx:UMBFinancialCorpMember 2025-11-30 0000783740 mstx:C000160031Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160032Member 2025-11-30 0000783740 mstx:C000160032Member mstx:AdvancedEnergyIndustriesIncMember 2025-11-30 0000783740 mstx:C000160032Member mstx:ArmstrongWorldIndustriesIncMember 2025-11-30 0000783740 mstx:C000160032Member mstx:BancOfCaliforniaIncMember 2025-11-30 0000783740 mstx:C000160032Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160032Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160032Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160032Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160032Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160032Member mstx:EssentialPropertiesRealtyTrustREITMember 2025-11-30 0000783740 mstx:C000160032Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160032Member mstx:FlowserveCorpMember 2025-11-30 0000783740 mstx:C000160032Member mstx:GeneDXHoldingsCorpMember 2025-11-30 0000783740 mstx:C000160032Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160032Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160032Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160032Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160032Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160032Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000160032Member mstx:PortlandGeneralElectricCoMember 2025-11-30 0000783740 mstx:C000160032Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160032Member mstx:TexasCapitalBancsharesIncMember 2025-11-30 0000783740 mstx:C000160032Member mstx:UMBFinancialCorpMember 2025-11-30 0000783740 mstx:C000160032Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160033Member 2025-11-30 0000783740 mstx:C000160033Member mstx:AdvancedEnergyIndustriesIncMember 2025-11-30 0000783740 mstx:C000160033Member mstx:ArmstrongWorldIndustriesIncMember 2025-11-30 0000783740 mstx:C000160033Member mstx:BancOfCaliforniaIncMember 2025-11-30 0000783740 mstx:C000160033Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160033Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160033Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160033Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160033Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160033Member mstx:EssentialPropertiesRealtyTrustREITMember 2025-11-30 0000783740 mstx:C000160033Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160033Member mstx:FlowserveCorpMember 2025-11-30 0000783740 mstx:C000160033Member mstx:GeneDXHoldingsCorpMember 2025-11-30 0000783740 mstx:C000160033Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160033Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160033Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160033Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160033Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160033Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000160033Member mstx:PortlandGeneralElectricCoMember 2025-11-30 0000783740 mstx:C000160033Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160033Member mstx:TexasCapitalBancsharesIncMember 2025-11-30 0000783740 mstx:C000160033Member mstx:UMBFinancialCorpMember 2025-11-30 0000783740 mstx:C000160033Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160034Member 2025-11-30 0000783740 mstx:C000160034Member mstx:AdvancedEnergyIndustriesIncMember 2025-11-30 0000783740 mstx:C000160034Member mstx:ArmstrongWorldIndustriesIncMember 2025-11-30 0000783740 mstx:C000160034Member mstx:BancOfCaliforniaIncMember 2025-11-30 0000783740 mstx:C000160034Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160034Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160034Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160034Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160034Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160034Member mstx:EssentialPropertiesRealtyTrustREITMember 2025-11-30 0000783740 mstx:C000160034Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160034Member mstx:FlowserveCorpMember 2025-11-30 0000783740 mstx:C000160034Member mstx:GeneDXHoldingsCorpMember 2025-11-30 0000783740 mstx:C000160034Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160034Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160034Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160034Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160034Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160034Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000160034Member mstx:PortlandGeneralElectricCoMember 2025-11-30 0000783740 mstx:C000160034Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160034Member mstx:TexasCapitalBancsharesIncMember 2025-11-30 0000783740 mstx:C000160034Member mstx:UMBFinancialCorpMember 2025-11-30 0000783740 mstx:C000160034Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160035Member 2025-11-30 0000783740 mstx:C000160035Member mstx:AdvancedEnergyIndustriesIncMember 2025-11-30 0000783740 mstx:C000160035Member mstx:ArmstrongWorldIndustriesIncMember 2025-11-30 0000783740 mstx:C000160035Member mstx:BancOfCaliforniaIncMember 2025-11-30 0000783740 mstx:C000160035Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160035Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160035Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160035Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160035Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160035Member mstx:EssentialPropertiesRealtyTrustREITMember 2025-11-30 0000783740 mstx:C000160035Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160035Member mstx:FlowserveCorpMember 2025-11-30 0000783740 mstx:C000160035Member mstx:GeneDXHoldingsCorpMember 2025-11-30 0000783740 mstx:C000160035Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160035Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160035Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160035Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160035Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160035Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000160035Member mstx:PortlandGeneralElectricCoMember 2025-11-30 0000783740 mstx:C000160035Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160035Member mstx:TexasCapitalBancsharesIncMember 2025-11-30 0000783740 mstx:C000160035Member mstx:UMBFinancialCorpMember 2025-11-30 0000783740 mstx:C000160035Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160036Member 2025-11-30 0000783740 mstx:C000160036Member mstx:AdvancedEnergyIndustriesIncMember 2025-11-30 0000783740 mstx:C000160036Member mstx:ArmstrongWorldIndustriesIncMember 2025-11-30 0000783740 mstx:C000160036Member mstx:BancOfCaliforniaIncMember 2025-11-30 0000783740 mstx:C000160036Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160036Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160036Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160036Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160036Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160036Member mstx:EssentialPropertiesRealtyTrustREITMember 2025-11-30 0000783740 mstx:C000160036Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160036Member mstx:FlowserveCorpMember 2025-11-30 0000783740 mstx:C000160036Member mstx:GeneDXHoldingsCorpMember 2025-11-30 0000783740 mstx:C000160036Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160036Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160036Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160036Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160036Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160036Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000160036Member mstx:PortlandGeneralElectricCoMember 2025-11-30 0000783740 mstx:C000160036Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160036Member mstx:TexasCapitalBancsharesIncMember 2025-11-30 0000783740 mstx:C000160036Member mstx:UMBFinancialCorpMember 2025-11-30 0000783740 mstx:C000160036Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160037Member 2025-11-30 0000783740 mstx:C000160037Member mstx:AdvancedEnergyIndustriesIncMember 2025-11-30 0000783740 mstx:C000160037Member mstx:ArmstrongWorldIndustriesIncMember 2025-11-30 0000783740 mstx:C000160037Member mstx:BancOfCaliforniaIncMember 2025-11-30 0000783740 mstx:C000160037Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160037Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160037Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160037Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160037Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160037Member mstx:EssentialPropertiesRealtyTrustREITMember 2025-11-30 0000783740 mstx:C000160037Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160037Member mstx:FlowserveCorpMember 2025-11-30 0000783740 mstx:C000160037Member mstx:GeneDXHoldingsCorpMember 2025-11-30 0000783740 mstx:C000160037Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160037Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160037Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160037Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160037Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160037Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000160037Member mstx:PortlandGeneralElectricCoMember 2025-11-30 0000783740 mstx:C000160037Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160037Member mstx:TexasCapitalBancsharesIncMember 2025-11-30 0000783740 mstx:C000160037Member mstx:UMBFinancialCorpMember 2025-11-30 0000783740 mstx:C000160037Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160038Member 2025-11-30 0000783740 mstx:C000160038Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160038Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160038Member mstx:BerkshireHathawayIncBMember 2025-11-30 0000783740 mstx:C000160038Member mstx:CaterpillarIncMember 2025-11-30 0000783740 mstx:C000160038Member mstx:CitigroupIncMember 2025-11-30 0000783740 mstx:C000160038Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160038Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160038Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160038Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160038Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160038Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160038Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160038Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160038Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160038Member mstx:JohnsonAndJohnsonMember 2025-11-30 0000783740 mstx:C000160038Member mstx:JPMorganChaseAndCoMember 2025-11-30 0000783740 mstx:C000160038Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160038Member mstx:MedtronicPLCMember 2025-11-30 0000783740 mstx:C000160038Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160038Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160038Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160038Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160038Member mstx:WellsFargoAndCoMember 2025-11-30 0000783740 mstx:C000160039Member 2025-11-30 0000783740 mstx:C000160039Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160039Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160039Member mstx:BerkshireHathawayIncBMember 2025-11-30 0000783740 mstx:C000160039Member mstx:CaterpillarIncMember 2025-11-30 0000783740 mstx:C000160039Member mstx:CitigroupIncMember 2025-11-30 0000783740 mstx:C000160039Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160039Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160039Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160039Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160039Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160039Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160039Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160039Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160039Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160039Member mstx:JohnsonAndJohnsonMember 2025-11-30 0000783740 mstx:C000160039Member mstx:JPMorganChaseAndCoMember 2025-11-30 0000783740 mstx:C000160039Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160039Member mstx:MedtronicPLCMember 2025-11-30 0000783740 mstx:C000160039Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160039Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160039Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160039Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160039Member mstx:WellsFargoAndCoMember 2025-11-30 0000783740 mstx:C000160040Member 2025-11-30 0000783740 mstx:C000160040Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160040Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160040Member mstx:BerkshireHathawayIncBMember 2025-11-30 0000783740 mstx:C000160040Member mstx:CaterpillarIncMember 2025-11-30 0000783740 mstx:C000160040Member mstx:CitigroupIncMember 2025-11-30 0000783740 mstx:C000160040Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160040Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160040Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160040Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160040Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160040Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160040Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160040Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160040Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160040Member mstx:JohnsonAndJohnsonMember 2025-11-30 0000783740 mstx:C000160040Member mstx:JPMorganChaseAndCoMember 2025-11-30 0000783740 mstx:C000160040Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160040Member mstx:MedtronicPLCMember 2025-11-30 0000783740 mstx:C000160040Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160040Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160040Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160040Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160040Member mstx:WellsFargoAndCoMember 2025-11-30 0000783740 mstx:C000160041Member 2025-11-30 0000783740 mstx:C000160041Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160041Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160041Member mstx:BerkshireHathawayIncBMember 2025-11-30 0000783740 mstx:C000160041Member mstx:CaterpillarIncMember 2025-11-30 0000783740 mstx:C000160041Member mstx:CitigroupIncMember 2025-11-30 0000783740 mstx:C000160041Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160041Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160041Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160041Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160041Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160041Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160041Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160041Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160041Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160041Member mstx:JohnsonAndJohnsonMember 2025-11-30 0000783740 mstx:C000160041Member mstx:JPMorganChaseAndCoMember 2025-11-30 0000783740 mstx:C000160041Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160041Member mstx:MedtronicPLCMember 2025-11-30 0000783740 mstx:C000160041Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160041Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160041Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160041Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160041Member mstx:WellsFargoAndCoMember 2025-11-30 0000783740 mstx:C000160042Member 2025-11-30 0000783740 mstx:C000160042Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160042Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160042Member mstx:BerkshireHathawayIncBMember 2025-11-30 0000783740 mstx:C000160042Member mstx:CaterpillarIncMember 2025-11-30 0000783740 mstx:C000160042Member mstx:CitigroupIncMember 2025-11-30 0000783740 mstx:C000160042Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160042Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160042Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160042Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160042Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160042Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160042Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160042Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160042Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160042Member mstx:JohnsonAndJohnsonMember 2025-11-30 0000783740 mstx:C000160042Member mstx:JPMorganChaseAndCoMember 2025-11-30 0000783740 mstx:C000160042Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160042Member mstx:MedtronicPLCMember 2025-11-30 0000783740 mstx:C000160042Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160042Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160042Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160042Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160042Member mstx:WellsFargoAndCoMember 2025-11-30 0000783740 mstx:C000160043Member 2025-11-30 0000783740 mstx:C000160043Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160043Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160043Member mstx:BerkshireHathawayIncBMember 2025-11-30 0000783740 mstx:C000160043Member mstx:CaterpillarIncMember 2025-11-30 0000783740 mstx:C000160043Member mstx:CitigroupIncMember 2025-11-30 0000783740 mstx:C000160043Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160043Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160043Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160043Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160043Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160043Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160043Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160043Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160043Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160043Member mstx:JohnsonAndJohnsonMember 2025-11-30 0000783740 mstx:C000160043Member mstx:JPMorganChaseAndCoMember 2025-11-30 0000783740 mstx:C000160043Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160043Member mstx:MedtronicPLCMember 2025-11-30 0000783740 mstx:C000160043Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160043Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160043Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160043Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160043Member mstx:WellsFargoAndCoMember 2025-11-30 0000783740 mstx:C000160044Member 2025-11-30 0000783740 mstx:C000160044Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160044Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160044Member mstx:BerkshireHathawayIncBMember 2025-11-30 0000783740 mstx:C000160044Member mstx:CaterpillarIncMember 2025-11-30 0000783740 mstx:C000160044Member mstx:CitigroupIncMember 2025-11-30 0000783740 mstx:C000160044Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160044Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160044Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160044Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160044Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160044Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160044Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160044Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160044Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160044Member mstx:JohnsonAndJohnsonMember 2025-11-30 0000783740 mstx:C000160044Member mstx:JPMorganChaseAndCoMember 2025-11-30 0000783740 mstx:C000160044Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160044Member mstx:MedtronicPLCMember 2025-11-30 0000783740 mstx:C000160044Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160044Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160044Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160044Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160044Member mstx:WellsFargoAndCoMember 2025-11-30 0000783740 mstx:C000160045Member 2025-11-30 0000783740 mstx:C000160045Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160045Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160045Member mstx:BerkshireHathawayIncBMember 2025-11-30 0000783740 mstx:C000160045Member mstx:CaterpillarIncMember 2025-11-30 0000783740 mstx:C000160045Member mstx:CitigroupIncMember 2025-11-30 0000783740 mstx:C000160045Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160045Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160045Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160045Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160045Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160045Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160045Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160045Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160045Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160045Member mstx:JohnsonAndJohnsonMember 2025-11-30 0000783740 mstx:C000160045Member mstx:JPMorganChaseAndCoMember 2025-11-30 0000783740 mstx:C000160045Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160045Member mstx:MedtronicPLCMember 2025-11-30 0000783740 mstx:C000160045Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160045Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160045Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160045Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160045Member mstx:WellsFargoAndCoMember 2025-11-30 0000783740 mstx:C000160046Member 2025-11-30 0000783740 mstx:C000160046Member mstx:AlphabetIncAMember 2025-11-30 0000783740 mstx:C000160046Member mstx:AmazonComIncMember 2025-11-30 0000783740 mstx:C000160046Member mstx:BerkshireHathawayIncBMember 2025-11-30 0000783740 mstx:C000160046Member mstx:CaterpillarIncMember 2025-11-30 0000783740 mstx:C000160046Member mstx:CitigroupIncMember 2025-11-30 0000783740 mstx:C000160046Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000160046Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000160046Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000160046Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000160046Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000160046Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000160046Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000160046Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000160046Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000160046Member mstx:JohnsonAndJohnsonMember 2025-11-30 0000783740 mstx:C000160046Member mstx:JPMorganChaseAndCoMember 2025-11-30 0000783740 mstx:C000160046Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000160046Member mstx:MedtronicPLCMember 2025-11-30 0000783740 mstx:C000160046Member mstx:MetaPlatformsIncAMember 2025-11-30 0000783740 mstx:C000160046Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000160046Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000160046Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000160046Member mstx:WellsFargoAndCoMember 2025-11-30 0000783740 mstx:C000172715Member 2025-11-30 0000783740 mstx:C000172715Member mstx:AmeripriseFinancialIncMember 2025-11-30 0000783740 mstx:C000172715Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000172715Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000172715Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000172715Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000172715Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000172715Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000172715Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000172715Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000172715Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000172715Member mstx:LeidosHoldingsIncMember 2025-11-30 0000783740 mstx:C000172715Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000172715Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000172715Member mstx:OReillyAutomotiveIncMember 2025-11-30 0000783740 mstx:C000172715Member mstx:Phillips66Member 2025-11-30 0000783740 mstx:C000172715Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000172715Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000172715Member mstx:RobloxCorpAMember 2025-11-30 0000783740 mstx:C000172715Member mstx:SynchronyFinancialMember 2025-11-30 0000783740 mstx:C000172715Member mstx:TechnipFMCPLCMember 2025-11-30 0000783740 mstx:C000172715Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000172715Member mstx:ValeroEnergyCorpMember 2025-11-30 0000783740 mstx:C000172715Member mstx:WabtecCorpMember 2025-11-30 0000783740 mstx:C000172716Member 2025-11-30 0000783740 mstx:C000172716Member mstx:AmeripriseFinancialIncMember 2025-11-30 0000783740 mstx:C000172716Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000172716Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000172716Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000172716Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000172716Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000172716Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000172716Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000172716Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000172716Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000172716Member mstx:LeidosHoldingsIncMember 2025-11-30 0000783740 mstx:C000172716Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000172716Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000172716Member mstx:OReillyAutomotiveIncMember 2025-11-30 0000783740 mstx:C000172716Member mstx:Phillips66Member 2025-11-30 0000783740 mstx:C000172716Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000172716Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000172716Member mstx:RobloxCorpAMember 2025-11-30 0000783740 mstx:C000172716Member mstx:SynchronyFinancialMember 2025-11-30 0000783740 mstx:C000172716Member mstx:TechnipFMCPLCMember 2025-11-30 0000783740 mstx:C000172716Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000172716Member mstx:ValeroEnergyCorpMember 2025-11-30 0000783740 mstx:C000172716Member mstx:WabtecCorpMember 2025-11-30 0000783740 mstx:C000172717Member 2025-11-30 0000783740 mstx:C000172717Member mstx:AmeripriseFinancialIncMember 2025-11-30 0000783740 mstx:C000172717Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000172717Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000172717Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000172717Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000172717Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000172717Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000172717Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000172717Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000172717Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000172717Member mstx:LeidosHoldingsIncMember 2025-11-30 0000783740 mstx:C000172717Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000172717Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000172717Member mstx:OReillyAutomotiveIncMember 2025-11-30 0000783740 mstx:C000172717Member mstx:Phillips66Member 2025-11-30 0000783740 mstx:C000172717Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000172717Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000172717Member mstx:RobloxCorpAMember 2025-11-30 0000783740 mstx:C000172717Member mstx:SynchronyFinancialMember 2025-11-30 0000783740 mstx:C000172717Member mstx:TechnipFMCPLCMember 2025-11-30 0000783740 mstx:C000172717Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000172717Member mstx:ValeroEnergyCorpMember 2025-11-30 0000783740 mstx:C000172717Member mstx:WabtecCorpMember 2025-11-30 0000783740 mstx:C000172718Member 2025-11-30 0000783740 mstx:C000172718Member mstx:AmeripriseFinancialIncMember 2025-11-30 0000783740 mstx:C000172718Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000172718Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000172718Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000172718Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000172718Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000172718Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000172718Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000172718Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000172718Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000172718Member mstx:LeidosHoldingsIncMember 2025-11-30 0000783740 mstx:C000172718Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000172718Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000172718Member mstx:OReillyAutomotiveIncMember 2025-11-30 0000783740 mstx:C000172718Member mstx:Phillips66Member 2025-11-30 0000783740 mstx:C000172718Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000172718Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000172718Member mstx:RobloxCorpAMember 2025-11-30 0000783740 mstx:C000172718Member mstx:SynchronyFinancialMember 2025-11-30 0000783740 mstx:C000172718Member mstx:TechnipFMCPLCMember 2025-11-30 0000783740 mstx:C000172718Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000172718Member mstx:ValeroEnergyCorpMember 2025-11-30 0000783740 mstx:C000172718Member mstx:WabtecCorpMember 2025-11-30 0000783740 mstx:C000172719Member 2025-11-30 0000783740 mstx:C000172719Member mstx:AmeripriseFinancialIncMember 2025-11-30 0000783740 mstx:C000172719Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000172719Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000172719Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000172719Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000172719Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000172719Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000172719Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000172719Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000172719Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000172719Member mstx:LeidosHoldingsIncMember 2025-11-30 0000783740 mstx:C000172719Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000172719Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000172719Member mstx:OReillyAutomotiveIncMember 2025-11-30 0000783740 mstx:C000172719Member mstx:Phillips66Member 2025-11-30 0000783740 mstx:C000172719Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000172719Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000172719Member mstx:RobloxCorpAMember 2025-11-30 0000783740 mstx:C000172719Member mstx:SynchronyFinancialMember 2025-11-30 0000783740 mstx:C000172719Member mstx:TechnipFMCPLCMember 2025-11-30 0000783740 mstx:C000172719Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000172719Member mstx:ValeroEnergyCorpMember 2025-11-30 0000783740 mstx:C000172719Member mstx:WabtecCorpMember 2025-11-30 0000783740 mstx:C000172720Member 2025-11-30 0000783740 mstx:C000172720Member mstx:AmeripriseFinancialIncMember 2025-11-30 0000783740 mstx:C000172720Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000172720Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000172720Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000172720Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000172720Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000172720Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000172720Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000172720Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000172720Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000172720Member mstx:LeidosHoldingsIncMember 2025-11-30 0000783740 mstx:C000172720Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000172720Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000172720Member mstx:OReillyAutomotiveIncMember 2025-11-30 0000783740 mstx:C000172720Member mstx:Phillips66Member 2025-11-30 0000783740 mstx:C000172720Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000172720Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000172720Member mstx:RobloxCorpAMember 2025-11-30 0000783740 mstx:C000172720Member mstx:SynchronyFinancialMember 2025-11-30 0000783740 mstx:C000172720Member mstx:TechnipFMCPLCMember 2025-11-30 0000783740 mstx:C000172720Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000172720Member mstx:ValeroEnergyCorpMember 2025-11-30 0000783740 mstx:C000172720Member mstx:WabtecCorpMember 2025-11-30 0000783740 mstx:C000172721Member 2025-11-30 0000783740 mstx:C000172721Member mstx:AmeripriseFinancialIncMember 2025-11-30 0000783740 mstx:C000172721Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000172721Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000172721Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000172721Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000172721Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000172721Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000172721Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000172721Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000172721Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000172721Member mstx:LeidosHoldingsIncMember 2025-11-30 0000783740 mstx:C000172721Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000172721Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000172721Member mstx:OReillyAutomotiveIncMember 2025-11-30 0000783740 mstx:C000172721Member mstx:Phillips66Member 2025-11-30 0000783740 mstx:C000172721Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000172721Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000172721Member mstx:RobloxCorpAMember 2025-11-30 0000783740 mstx:C000172721Member mstx:SynchronyFinancialMember 2025-11-30 0000783740 mstx:C000172721Member mstx:TechnipFMCPLCMember 2025-11-30 0000783740 mstx:C000172721Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000172721Member mstx:ValeroEnergyCorpMember 2025-11-30 0000783740 mstx:C000172721Member mstx:WabtecCorpMember 2025-11-30 0000783740 mstx:C000172722Member 2025-11-30 0000783740 mstx:C000172722Member mstx:AmeripriseFinancialIncMember 2025-11-30 0000783740 mstx:C000172722Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000172722Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000172722Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000172722Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000172722Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000172722Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000172722Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000172722Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000172722Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000172722Member mstx:LeidosHoldingsIncMember 2025-11-30 0000783740 mstx:C000172722Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000172722Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000172722Member mstx:OReillyAutomotiveIncMember 2025-11-30 0000783740 mstx:C000172722Member mstx:Phillips66Member 2025-11-30 0000783740 mstx:C000172722Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000172722Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000172722Member mstx:RobloxCorpAMember 2025-11-30 0000783740 mstx:C000172722Member mstx:SynchronyFinancialMember 2025-11-30 0000783740 mstx:C000172722Member mstx:TechnipFMCPLCMember 2025-11-30 0000783740 mstx:C000172722Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000172722Member mstx:ValeroEnergyCorpMember 2025-11-30 0000783740 mstx:C000172722Member mstx:WabtecCorpMember 2025-11-30 0000783740 mstx:C000172723Member 2025-11-30 0000783740 mstx:C000172723Member mstx:AmeripriseFinancialIncMember 2025-11-30 0000783740 mstx:C000172723Member oef:CommunicationsSectorMember 2025-11-30 0000783740 mstx:C000172723Member oef:ConsumerDiscretionarySectorMember 2025-11-30 0000783740 mstx:C000172723Member oef:ConsumerStaplesSectorMember 2025-11-30 0000783740 mstx:C000172723Member us-gaap:EnergySectorMember 2025-11-30 0000783740 mstx:C000172723Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000172723Member us-gaap:FinancialServicesSectorMember 2025-11-30 0000783740 mstx:C000172723Member us-gaap:HealthcareSectorMember 2025-11-30 0000783740 mstx:C000172723Member oef:IndustrialSectorMember 2025-11-30 0000783740 mstx:C000172723Member oef:InformationTechnologySectorMember 2025-11-30 0000783740 mstx:C000172723Member mstx:LeidosHoldingsIncMember 2025-11-30 0000783740 mstx:C000172723Member oef:MaterialsSectorMember 2025-11-30 0000783740 mstx:C000172723Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000172723Member mstx:OReillyAutomotiveIncMember 2025-11-30 0000783740 mstx:C000172723Member mstx:Phillips66Member 2025-11-30 0000783740 mstx:C000172723Member mstx:PopularIncMember 2025-11-30 0000783740 mstx:C000172723Member us-gaap:RealEstateSectorMember 2025-11-30 0000783740 mstx:C000172723Member mstx:RobloxCorpAMember 2025-11-30 0000783740 mstx:C000172723Member mstx:SynchronyFinancialMember 2025-11-30 0000783740 mstx:C000172723Member mstx:TechnipFMCPLCMember 2025-11-30 0000783740 mstx:C000172723Member oef:UtilitiesSectorMember 2025-11-30 0000783740 mstx:C000172723Member mstx:ValeroEnergyCorpMember 2025-11-30 0000783740 mstx:C000172723Member mstx:WabtecCorpMember 2025-11-30 0000783740 mstx:C000195683Member 2025-11-30 0000783740 mstx:C000195683Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000195683Member mstx:InternationalStockFundsMember 2025-11-30 0000783740 mstx:C000195683Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000195683Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000195683Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000195683Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000195683Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000195683Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000195683Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000195683Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000195688Member 2025-11-30 0000783740 mstx:C000195688Member us-gaap:CashAndCashEquivalentsMember 2025-11-30 0000783740 mstx:C000195688Member mstx:DownsideHedgeSMember 2025-11-30 0000783740 mstx:C000195688Member mstx:LimitedMaturityUSTreasuryNotesMember 2025-11-30 0000783740 mstx:C000195688Member mstx:MFSGrowthFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000195688Member mstx:MFSInternationalEquityFundMember 2025-11-30 0000783740 mstx:C000195688Member mstx:MFSValueFundStrategicAllocationMember 2025-11-30 0000783740 mstx:C000195688Member mstx:MiniMSCIEAFEIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000195688Member mstx:MiniRussell1000GrowthFutureDEC1925Member 2025-11-30 0000783740 mstx:C000195688Member mstx:MiniRussell1000ValueIndexFutureDEC1925Member 2025-11-30 0000783740 mstx:C000195688Member mstx:NetEquityExposureMember 2025-11-30 0000783740 mstx:C000195688Member mstx:NetEquivalentEquityExposureActiveSecuritySelectionMember 2025-11-30 0000783740 mstx:C000195688Member mstx:NetEquivalentEquityExposureDerivativeOverlayPositionsMember 2025-11-30 0000783740 mstx:C000195688Member mstx:NetEquivalentEquityExposureMember 2025-11-30 0000783740 mstx:C000195688Member us-gaap:OtherInvestmentsMember 2025-11-30 0000783740 mstx:C000195688Member mstx:StandardAndPoorS500IndexOption540000PUTJUN1826Member 2025-11-30 0000783740 mstx:C000195688Member mstx:StandardAndPoorS500IndexOption540000PUTSEP1826Member 2025-11-30 0000783740 mstx:C000195688Member mstx:StandardAndPoorS500IndexOption557500PUTMAR2026Member 2025-11-30 0000783740 mstx:C000195688Member mstx:StandardAndPoorsIndexOptionPUTSMember 2025-11-30 0000783740 mstx:C000220106Member 2025-11-30 0000783740 mstx:C000220106Member mstx:BankOfIrelandGroupPLCMember 2025-11-30 0000783740 mstx:C000220106Member mstx:BarclaysPLCMember 2025-11-30 0000783740 mstx:C000220106Member mstx:BNPParibasSAMember 2025-11-30 0000783740 mstx:C000220106Member mstx:BritishAmericanTobaccoPLCMember 2025-11-30 0000783740 mstx:C000220106Member country:CA 2025-11-30 0000783740 mstx:C000220106Member country:CH 2025-11-30 0000783740 mstx:C000220106Member country:DE 2025-11-30 0000783740 mstx:C000220106Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000220106Member country:FR 2025-11-30 0000783740 mstx:C000220106Member country:GB 2025-11-30 0000783740 mstx:C000220106Member country:IE 2025-11-30 0000783740 mstx:C000220106Member country:JP 2025-11-30 0000783740 mstx:C000220106Member mstx:MitsubishiUFJFinancialGroupIncMember 2025-11-30 0000783740 mstx:C000220106Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000220106Member mstx:NationalGridPLCMember 2025-11-30 0000783740 mstx:C000220106Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000220106Member country:NL 2025-11-30 0000783740 mstx:C000220106Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000220106Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000220106Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000220106Member mstx:UBSGroupAGMember 2025-11-30 0000783740 mstx:C000220106Member country:US 2025-11-30 0000783740 mstx:C000220107Member 2025-11-30 0000783740 mstx:C000220107Member mstx:BankOfIrelandGroupPLCMember 2025-11-30 0000783740 mstx:C000220107Member mstx:BarclaysPLCMember 2025-11-30 0000783740 mstx:C000220107Member mstx:BNPParibasSAMember 2025-11-30 0000783740 mstx:C000220107Member mstx:BritishAmericanTobaccoPLCMember 2025-11-30 0000783740 mstx:C000220107Member country:CA 2025-11-30 0000783740 mstx:C000220107Member country:CH 2025-11-30 0000783740 mstx:C000220107Member country:DE 2025-11-30 0000783740 mstx:C000220107Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000220107Member country:FR 2025-11-30 0000783740 mstx:C000220107Member country:GB 2025-11-30 0000783740 mstx:C000220107Member country:IE 2025-11-30 0000783740 mstx:C000220107Member country:JP 2025-11-30 0000783740 mstx:C000220107Member mstx:MitsubishiUFJFinancialGroupIncMember 2025-11-30 0000783740 mstx:C000220107Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000220107Member mstx:NationalGridPLCMember 2025-11-30 0000783740 mstx:C000220107Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000220107Member country:NL 2025-11-30 0000783740 mstx:C000220107Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000220107Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000220107Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000220107Member mstx:UBSGroupAGMember 2025-11-30 0000783740 mstx:C000220107Member country:US 2025-11-30 0000783740 mstx:C000220108Member 2025-11-30 0000783740 mstx:C000220108Member mstx:BankOfIrelandGroupPLCMember 2025-11-30 0000783740 mstx:C000220108Member mstx:BarclaysPLCMember 2025-11-30 0000783740 mstx:C000220108Member mstx:BNPParibasSAMember 2025-11-30 0000783740 mstx:C000220108Member mstx:BritishAmericanTobaccoPLCMember 2025-11-30 0000783740 mstx:C000220108Member country:CA 2025-11-30 0000783740 mstx:C000220108Member country:CH 2025-11-30 0000783740 mstx:C000220108Member country:DE 2025-11-30 0000783740 mstx:C000220108Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000220108Member country:FR 2025-11-30 0000783740 mstx:C000220108Member country:GB 2025-11-30 0000783740 mstx:C000220108Member country:IE 2025-11-30 0000783740 mstx:C000220108Member country:JP 2025-11-30 0000783740 mstx:C000220108Member mstx:MitsubishiUFJFinancialGroupIncMember 2025-11-30 0000783740 mstx:C000220108Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000220108Member mstx:NationalGridPLCMember 2025-11-30 0000783740 mstx:C000220108Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000220108Member country:NL 2025-11-30 0000783740 mstx:C000220108Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000220108Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000220108Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000220108Member mstx:UBSGroupAGMember 2025-11-30 0000783740 mstx:C000220108Member country:US 2025-11-30 0000783740 mstx:C000220109Member 2025-11-30 0000783740 mstx:C000220109Member mstx:BankOfIrelandGroupPLCMember 2025-11-30 0000783740 mstx:C000220109Member mstx:BarclaysPLCMember 2025-11-30 0000783740 mstx:C000220109Member mstx:BNPParibasSAMember 2025-11-30 0000783740 mstx:C000220109Member mstx:BritishAmericanTobaccoPLCMember 2025-11-30 0000783740 mstx:C000220109Member country:CA 2025-11-30 0000783740 mstx:C000220109Member country:CH 2025-11-30 0000783740 mstx:C000220109Member country:DE 2025-11-30 0000783740 mstx:C000220109Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000220109Member country:FR 2025-11-30 0000783740 mstx:C000220109Member country:GB 2025-11-30 0000783740 mstx:C000220109Member country:IE 2025-11-30 0000783740 mstx:C000220109Member country:JP 2025-11-30 0000783740 mstx:C000220109Member mstx:MitsubishiUFJFinancialGroupIncMember 2025-11-30 0000783740 mstx:C000220109Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000220109Member mstx:NationalGridPLCMember 2025-11-30 0000783740 mstx:C000220109Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000220109Member country:NL 2025-11-30 0000783740 mstx:C000220109Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000220109Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000220109Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000220109Member mstx:UBSGroupAGMember 2025-11-30 0000783740 mstx:C000220109Member country:US 2025-11-30 0000783740 mstx:C000220110Member 2025-11-30 0000783740 mstx:C000220110Member mstx:BankOfIrelandGroupPLCMember 2025-11-30 0000783740 mstx:C000220110Member mstx:BarclaysPLCMember 2025-11-30 0000783740 mstx:C000220110Member mstx:BNPParibasSAMember 2025-11-30 0000783740 mstx:C000220110Member mstx:BritishAmericanTobaccoPLCMember 2025-11-30 0000783740 mstx:C000220110Member country:CA 2025-11-30 0000783740 mstx:C000220110Member country:CH 2025-11-30 0000783740 mstx:C000220110Member country:DE 2025-11-30 0000783740 mstx:C000220110Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000220110Member country:FR 2025-11-30 0000783740 mstx:C000220110Member country:GB 2025-11-30 0000783740 mstx:C000220110Member country:IE 2025-11-30 0000783740 mstx:C000220110Member country:JP 2025-11-30 0000783740 mstx:C000220110Member mstx:MitsubishiUFJFinancialGroupIncMember 2025-11-30 0000783740 mstx:C000220110Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000220110Member mstx:NationalGridPLCMember 2025-11-30 0000783740 mstx:C000220110Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000220110Member country:NL 2025-11-30 0000783740 mstx:C000220110Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000220110Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000220110Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000220110Member mstx:UBSGroupAGMember 2025-11-30 0000783740 mstx:C000220110Member country:US 2025-11-30 0000783740 mstx:C000220111Member 2025-11-30 0000783740 mstx:C000220111Member mstx:BankOfIrelandGroupPLCMember 2025-11-30 0000783740 mstx:C000220111Member mstx:BarclaysPLCMember 2025-11-30 0000783740 mstx:C000220111Member mstx:BNPParibasSAMember 2025-11-30 0000783740 mstx:C000220111Member mstx:BritishAmericanTobaccoPLCMember 2025-11-30 0000783740 mstx:C000220111Member country:CA 2025-11-30 0000783740 mstx:C000220111Member country:CH 2025-11-30 0000783740 mstx:C000220111Member country:DE 2025-11-30 0000783740 mstx:C000220111Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000220111Member country:FR 2025-11-30 0000783740 mstx:C000220111Member country:GB 2025-11-30 0000783740 mstx:C000220111Member country:IE 2025-11-30 0000783740 mstx:C000220111Member country:JP 2025-11-30 0000783740 mstx:C000220111Member mstx:MitsubishiUFJFinancialGroupIncMember 2025-11-30 0000783740 mstx:C000220111Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000220111Member mstx:NationalGridPLCMember 2025-11-30 0000783740 mstx:C000220111Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000220111Member country:NL 2025-11-30 0000783740 mstx:C000220111Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000220111Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000220111Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000220111Member mstx:UBSGroupAGMember 2025-11-30 0000783740 mstx:C000220111Member country:US 2025-11-30 0000783740 mstx:C000220112Member 2025-11-30 0000783740 mstx:C000220112Member mstx:BankOfIrelandGroupPLCMember 2025-11-30 0000783740 mstx:C000220112Member mstx:BarclaysPLCMember 2025-11-30 0000783740 mstx:C000220112Member mstx:BNPParibasSAMember 2025-11-30 0000783740 mstx:C000220112Member mstx:BritishAmericanTobaccoPLCMember 2025-11-30 0000783740 mstx:C000220112Member country:CA 2025-11-30 0000783740 mstx:C000220112Member country:CH 2025-11-30 0000783740 mstx:C000220112Member country:DE 2025-11-30 0000783740 mstx:C000220112Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000220112Member country:FR 2025-11-30 0000783740 mstx:C000220112Member country:GB 2025-11-30 0000783740 mstx:C000220112Member country:IE 2025-11-30 0000783740 mstx:C000220112Member country:JP 2025-11-30 0000783740 mstx:C000220112Member mstx:MitsubishiUFJFinancialGroupIncMember 2025-11-30 0000783740 mstx:C000220112Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000220112Member mstx:NationalGridPLCMember 2025-11-30 0000783740 mstx:C000220112Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000220112Member country:NL 2025-11-30 0000783740 mstx:C000220112Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000220112Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000220112Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000220112Member mstx:UBSGroupAGMember 2025-11-30 0000783740 mstx:C000220112Member country:US 2025-11-30 0000783740 mstx:C000220113Member 2025-11-30 0000783740 mstx:C000220113Member mstx:BankOfIrelandGroupPLCMember 2025-11-30 0000783740 mstx:C000220113Member mstx:BarclaysPLCMember 2025-11-30 0000783740 mstx:C000220113Member mstx:BNPParibasSAMember 2025-11-30 0000783740 mstx:C000220113Member mstx:BritishAmericanTobaccoPLCMember 2025-11-30 0000783740 mstx:C000220113Member country:CA 2025-11-30 0000783740 mstx:C000220113Member country:CH 2025-11-30 0000783740 mstx:C000220113Member country:DE 2025-11-30 0000783740 mstx:C000220113Member us-gaap:EquityMember 2025-11-30 0000783740 mstx:C000220113Member country:FR 2025-11-30 0000783740 mstx:C000220113Member country:GB 2025-11-30 0000783740 mstx:C000220113Member country:IE 2025-11-30 0000783740 mstx:C000220113Member country:JP 2025-11-30 0000783740 mstx:C000220113Member mstx:MitsubishiUFJFinancialGroupIncMember 2025-11-30 0000783740 mstx:C000220113Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000220113Member mstx:NationalGridPLCMember 2025-11-30 0000783740 mstx:C000220113Member mstx:NatWestGroupPLCMember 2025-11-30 0000783740 mstx:C000220113Member country:NL 2025-11-30 0000783740 mstx:C000220113Member mstx:OtherCountriesMember 2025-11-30 0000783740 mstx:C000220113Member mstx:RocheHoldingAGMember 2025-11-30 0000783740 mstx:C000220113Member mstx:TotalEnergiesSEMember 2025-11-30 0000783740 mstx:C000220113Member mstx:UBSGroupAGMember 2025-11-30 0000783740 mstx:C000220113Member country:US 2025-11-30 0000783740 mstx:C000231058Member 2025-11-30 0000783740 mstx:C000231058Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000231058Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000231058Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000231058Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000231058Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000231059Member 2025-11-30 0000783740 mstx:C000231059Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000231059Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000231059Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000231059Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000231059Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000231059Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000231060Member 2025-11-30 0000783740 mstx:C000231060Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000231060Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSGovernmentSecuritiesFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSLimitedMaturityFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000231060Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000231060Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000231060Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000231060Member mstx:USEquityFundsMember 2025-11-30 0000783740 mstx:C000231061Member 2025-11-30 0000783740 mstx:C000231061Member us-gaap:BondsMember 2025-11-30 0000783740 mstx:C000231061Member mstx:InternationalEquityFundsMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSCommodityStrategyFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSEmergingMarketsDebtFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSEmergingMarketsDebtLocalCurrencyFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSEmergingMarketsEquityFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSGlobalOpportunisticBondFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSGlobalRealEstateFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSGrowthFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSHighIncomeFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSInflationAdjustedBondFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSInstitutionalMoneyMarketPortfolioMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSInternationalGrowthFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSInternationalIntrinsicValueFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSInternationalLargeCapValueFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSInternationalNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSMidCapGrowthFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSMidCapValueFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSNewDiscoveryFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSNewDiscoveryValueFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSResearchFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSResearchInternationalFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSTotalReturnBondFundMember 2025-11-30 0000783740 mstx:C000231061Member mstx:MFSValueFundMember 2025-11-30 0000783740 mstx:C000231061Member us-gaap:MoneyMarketFundsMember 2025-11-30 0000783740 mstx:C000231061Member mstx:NonTraditionalFundsMember 2025-11-30 0000783740 mstx:C000231061Member mstx:USEquityFundsMember 2025-11-30 iso4217:USDiso4217:USDxbrli:sharesxbrli:purexbrli:sharesutr:Dmstx:Holding

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

#### FORM N-CSR

------

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number

#### 811-04492

#### MFS SERIES TRUST X
(Exact name of registrant as specified in charter)

------

111 Huntington Avenue, Boston, Massachusetts 02199

(Address of principal executive offices) (Zip code)

Christopher R. Bohane

Massachusetts Financial Services Company

111 Huntington Avenue

Boston, Massachusetts 02199

(Name and address of agents for service)

#### Registrant's telephone number, including area code:
&nbsp;&nbsp;&nbsp;&nbsp;(617) 954-5000

#### Date of fiscal year end:

#### May 31\*

#### Date of reporting period:

#### November 30, 2025
\*This Form N-CSR pertains to the following series of the Registrant: MFS Aggressive Growth Allocation Fund, MFS Blended Research Growth Equity Fund, MFS Blended Research Small Cap Equity Fund, MFS Blended Research Value Equity Fund, MFS Blended Research Mid Cap Equity Fund, MFS Conservative Allocation Fund, MFS Emerging Markets Equity Fund, MFS Growth Allocation Fund, MFS International Diversification Fund, MFS International Growth Fund, MFS International Intrinsic Value Fund, MFS International Large Cap Value Fund, MFS Managed Wealth Fund, and MFS Moderate Allocation Fund. The remaining series of the Registrant have fiscal year ends other than May 31.

#### ITEM 1. REPORTS TO STOCKHOLDERS.
Item 1(a):

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Aggressive Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-MAAGX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Aggressive Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| A | $19 | 0.37% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 2979499327 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 16 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2217602.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 12.1% |
| MFS Growth Fund | 11.2% |
| MFS Research Fund | 10.3% |
| MFS Mid Cap Value Fund | 10.1% |
| MFS Mid Cap Growth Fund | 9.7% |
| MFS Research International Fund | 8.2% |
| MFS International Intrinsic Value Fund | 5.2% |
| MFS International Large Cap Value Fund | 5.1% |
| MFS International Growth Fund | 5.1% |
| MFS Commodity Strategy Fund | 5.0% |
| MFS Global Real Estate Fund | 4.9% |
| MFS International New Discovery Fund | 4.0% |
| MFS Emerging Markets Equity Fund | 3.0% |
| MFS New Discovery Fund | 2.6% |
| MFS New Discovery Value Fund | 2.5% |
| MFS Institutional Money Market Portfolio | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

AGGA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Aggressive Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-MBAGX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Aggressive Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| B | $59 | 1.12% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 2979499327 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 16 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2217696.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 12.1% |
| MFS Growth Fund | 11.2% |
| MFS Research Fund | 10.3% |
| MFS Mid Cap Value Fund | 10.1% |
| MFS Mid Cap Growth Fund | 9.7% |
| MFS Research International Fund | 8.2% |
| MFS International Intrinsic Value Fund | 5.2% |
| MFS International Large Cap Value Fund | 5.1% |
| MFS International Growth Fund | 5.1% |
| MFS Commodity Strategy Fund | 5.0% |
| MFS Global Real Estate Fund | 4.9% |
| MFS International New Discovery Fund | 4.0% |
| MFS Emerging Markets Equity Fund | 3.0% |
| MFS New Discovery Fund | 2.6% |
| MFS New Discovery Value Fund | 2.5% |
| MFS Institutional Money Market Portfolio | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

AGGB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Aggressive Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-MCAGX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Aggressive Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| C | $59 | 1.12% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 2979499327 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 16 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2217790.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 12.1% |
| MFS Growth Fund | 11.2% |
| MFS Research Fund | 10.3% |
| MFS Mid Cap Value Fund | 10.1% |
| MFS Mid Cap Growth Fund | 9.7% |
| MFS Research International Fund | 8.2% |
| MFS International Intrinsic Value Fund | 5.2% |
| MFS International Large Cap Value Fund | 5.1% |
| MFS International Growth Fund | 5.1% |
| MFS Commodity Strategy Fund | 5.0% |
| MFS Global Real Estate Fund | 4.9% |
| MFS International New Discovery Fund | 4.0% |
| MFS Emerging Markets Equity Fund | 3.0% |
| MFS New Discovery Fund | 2.6% |
| MFS New Discovery Value Fund | 2.5% |
| MFS Institutional Money Market Portfolio | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

AGGC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Aggressive Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-MIAGX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Aggressive Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| I | $6 | 0.12% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 2979499327 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 16 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2217884.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 12.1% |
| MFS Growth Fund | 11.2% |
| MFS Research Fund | 10.3% |
| MFS Mid Cap Value Fund | 10.1% |
| MFS Mid Cap Growth Fund | 9.7% |
| MFS Research International Fund | 8.2% |
| MFS International Intrinsic Value Fund | 5.2% |
| MFS International Large Cap Value Fund | 5.1% |
| MFS International Growth Fund | 5.1% |
| MFS Commodity Strategy Fund | 5.0% |
| MFS Global Real Estate Fund | 4.9% |
| MFS International New Discovery Fund | 4.0% |
| MFS Emerging Markets Equity Fund | 3.0% |
| MFS New Discovery Fund | 2.6% |
| MFS New Discovery Value Fund | 2.5% |
| MFS Institutional Money Market Portfolio | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

AGGI-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Aggressive Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-MAAFX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Aggressive Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R1 | $59 | 1.12% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 2979499327 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 16 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2217978.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 12.1% |
| MFS Growth Fund | 11.2% |
| MFS Research Fund | 10.3% |
| MFS Mid Cap Value Fund | 10.1% |
| MFS Mid Cap Growth Fund | 9.7% |
| MFS Research International Fund | 8.2% |
| MFS International Intrinsic Value Fund | 5.2% |
| MFS International Large Cap Value Fund | 5.1% |
| MFS International Growth Fund | 5.1% |
| MFS Commodity Strategy Fund | 5.0% |
| MFS Global Real Estate Fund | 4.9% |
| MFS International New Discovery Fund | 4.0% |
| MFS Emerging Markets Equity Fund | 3.0% |
| MFS New Discovery Fund | 2.6% |
| MFS New Discovery Value Fund | 2.5% |
| MFS Institutional Money Market Portfolio | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

AGGR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Aggressive Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-MAWAX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Aggressive Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R2 | $32 | 0.62% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 2979499327 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 16 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2218072.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 12.1% |
| MFS Growth Fund | 11.2% |
| MFS Research Fund | 10.3% |
| MFS Mid Cap Value Fund | 10.1% |
| MFS Mid Cap Growth Fund | 9.7% |
| MFS Research International Fund | 8.2% |
| MFS International Intrinsic Value Fund | 5.2% |
| MFS International Large Cap Value Fund | 5.1% |
| MFS International Growth Fund | 5.1% |
| MFS Commodity Strategy Fund | 5.0% |
| MFS Global Real Estate Fund | 4.9% |
| MFS International New Discovery Fund | 4.0% |
| MFS Emerging Markets Equity Fund | 3.0% |
| MFS New Discovery Fund | 2.6% |
| MFS New Discovery Value Fund | 2.5% |
| MFS Institutional Money Market Portfolio | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

AGGR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Aggressive Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-MAAHX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Aggressive Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R3 | $19 | 0.37% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 2979499327 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 16 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2218166.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 12.1% |
| MFS Growth Fund | 11.2% |
| MFS Research Fund | 10.3% |
| MFS Mid Cap Value Fund | 10.1% |
| MFS Mid Cap Growth Fund | 9.7% |
| MFS Research International Fund | 8.2% |
| MFS International Intrinsic Value Fund | 5.2% |
| MFS International Large Cap Value Fund | 5.1% |
| MFS International Growth Fund | 5.1% |
| MFS Commodity Strategy Fund | 5.0% |
| MFS Global Real Estate Fund | 4.9% |
| MFS International New Discovery Fund | 4.0% |
| MFS Emerging Markets Equity Fund | 3.0% |
| MFS New Discovery Fund | 2.6% |
| MFS New Discovery Value Fund | 2.5% |
| MFS Institutional Money Market Portfolio | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

AGGR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Aggressive Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-MAALX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Aggressive Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R4 | $6 | 0.12% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 2979499327 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 16 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2218260.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 12.1% |
| MFS Growth Fund | 11.2% |
| MFS Research Fund | 10.3% |
| MFS Mid Cap Value Fund | 10.1% |
| MFS Mid Cap Growth Fund | 9.7% |
| MFS Research International Fund | 8.2% |
| MFS International Intrinsic Value Fund | 5.2% |
| MFS International Large Cap Value Fund | 5.1% |
| MFS International Growth Fund | 5.1% |
| MFS Commodity Strategy Fund | 5.0% |
| MFS Global Real Estate Fund | 4.9% |
| MFS International New Discovery Fund | 4.0% |
| MFS Emerging Markets Equity Fund | 3.0% |
| MFS New Discovery Fund | 2.6% |
| MFS New Discovery Value Fund | 2.5% |
| MFS Institutional Money Market Portfolio | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

AGGR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Aggressive Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-AGGPX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Aggressive Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R6 | $2 | 0.04% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 2979499327 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 16 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2218354.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 12.1% |
| MFS Growth Fund | 11.2% |
| MFS Research Fund | 10.3% |
| MFS Mid Cap Value Fund | 10.1% |
| MFS Mid Cap Growth Fund | 9.7% |
| MFS Research International Fund | 8.2% |
| MFS International Intrinsic Value Fund | 5.2% |
| MFS International Large Cap Value Fund | 5.1% |
| MFS International Growth Fund | 5.1% |
| MFS Commodity Strategy Fund | 5.0% |
| MFS Global Real Estate Fund | 4.9% |
| MFS International New Discovery Fund | 4.0% |
| MFS Emerging Markets Equity Fund | 3.0% |
| MFS New Discovery Fund | 2.6% |
| MFS New Discovery Value Fund | 2.5% |
| MFS Institutional Money Market Portfolio | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

AGGR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Conservative

Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-MACFX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Conservative Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| A | $18 | 0.34% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 3688377721 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2218448.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Total Return Bond Fund | 14.5% |
| MFS Limited Maturity Fund | 10.0% |
| MFS Inflation-Adjusted Bond Fund | 10.0% |
| MFS Government Securities Fund | 9.8% |
| MFS Global Opportunistic Bond Fund | 7.0% |
| MFS Value Fund | 6.1% |
| MFS Research Fund | 5.3% |
| MFS Growth Fund | 5.3% |
| MFS Mid Cap Value Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Mid Cap Growth Fund | 3.9% |
| MFS Research International Fund | 3.8% |
| MFS Commodity Strategy Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Emerging Markets Debt Fund | 2.0% |
| MFS Global Real Estate Fund | 2.0% |
| MFS International Intrinsic Value Fund | 1.6% |
| MFS International Large Cap Value Fund | 1.6% |
| MFS International Growth Fund | 1.6% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.0% |
| MFS New Discovery Value Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

CONA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Conservative

Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-MACBX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Conservative Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| B | $56 | 1.09% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 3688377721 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2218542.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Total Return Bond Fund | 14.5% |
| MFS Limited Maturity Fund | 10.0% |
| MFS Inflation-Adjusted Bond Fund | 10.0% |
| MFS Government Securities Fund | 9.8% |
| MFS Global Opportunistic Bond Fund | 7.0% |
| MFS Value Fund | 6.1% |
| MFS Research Fund | 5.3% |
| MFS Growth Fund | 5.3% |
| MFS Mid Cap Value Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Mid Cap Growth Fund | 3.9% |
| MFS Research International Fund | 3.8% |
| MFS Commodity Strategy Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Emerging Markets Debt Fund | 2.0% |
| MFS Global Real Estate Fund | 2.0% |
| MFS International Intrinsic Value Fund | 1.6% |
| MFS International Large Cap Value Fund | 1.6% |
| MFS International Growth Fund | 1.6% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.0% |
| MFS New Discovery Value Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

CONB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Conservative

Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-MACVX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Conservative Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| C | $56 | 1.09% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 3688377721 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2218636.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Total Return Bond Fund | 14.5% |
| MFS Limited Maturity Fund | 10.0% |
| MFS Inflation-Adjusted Bond Fund | 10.0% |
| MFS Government Securities Fund | 9.8% |
| MFS Global Opportunistic Bond Fund | 7.0% |
| MFS Value Fund | 6.1% |
| MFS Research Fund | 5.3% |
| MFS Growth Fund | 5.3% |
| MFS Mid Cap Value Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Mid Cap Growth Fund | 3.9% |
| MFS Research International Fund | 3.8% |
| MFS Commodity Strategy Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Emerging Markets Debt Fund | 2.0% |
| MFS Global Real Estate Fund | 2.0% |
| MFS International Intrinsic Value Fund | 1.6% |
| MFS International Large Cap Value Fund | 1.6% |
| MFS International Growth Fund | 1.6% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.0% |
| MFS New Discovery Value Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

CONC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Conservative

Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-MACIX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Conservative Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| I | $5 | 0.09% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 3688377721 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2218730.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Total Return Bond Fund | 14.5% |
| MFS Limited Maturity Fund | 10.0% |
| MFS Inflation-Adjusted Bond Fund | 10.0% |
| MFS Government Securities Fund | 9.8% |
| MFS Global Opportunistic Bond Fund | 7.0% |
| MFS Value Fund | 6.1% |
| MFS Research Fund | 5.3% |
| MFS Growth Fund | 5.3% |
| MFS Mid Cap Value Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Mid Cap Growth Fund | 3.9% |
| MFS Research International Fund | 3.8% |
| MFS Commodity Strategy Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Emerging Markets Debt Fund | 2.0% |
| MFS Global Real Estate Fund | 2.0% |
| MFS International Intrinsic Value Fund | 1.6% |
| MFS International Large Cap Value Fund | 1.6% |
| MFS International Growth Fund | 1.6% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.0% |
| MFS New Discovery Value Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

CONI-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Conservative

Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-MACKX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Conservative Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R1 | $56 | 1.09% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 3688377721 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2218824.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Total Return Bond Fund | 14.5% |
| MFS Limited Maturity Fund | 10.0% |
| MFS Inflation-Adjusted Bond Fund | 10.0% |
| MFS Government Securities Fund | 9.8% |
| MFS Global Opportunistic Bond Fund | 7.0% |
| MFS Value Fund | 6.1% |
| MFS Research Fund | 5.3% |
| MFS Growth Fund | 5.3% |
| MFS Mid Cap Value Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Mid Cap Growth Fund | 3.9% |
| MFS Research International Fund | 3.8% |
| MFS Commodity Strategy Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Emerging Markets Debt Fund | 2.0% |
| MFS Global Real Estate Fund | 2.0% |
| MFS International Intrinsic Value Fund | 1.6% |
| MFS International Large Cap Value Fund | 1.6% |
| MFS International Growth Fund | 1.6% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.0% |
| MFS New Discovery Value Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

CONR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Conservative

Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-MCARX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Conservative Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R2 | $30 | 0.59% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 3688377721 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2218918.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Total Return Bond Fund | 14.5% |
| MFS Limited Maturity Fund | 10.0% |
| MFS Inflation-Adjusted Bond Fund | 10.0% |
| MFS Government Securities Fund | 9.8% |
| MFS Global Opportunistic Bond Fund | 7.0% |
| MFS Value Fund | 6.1% |
| MFS Research Fund | 5.3% |
| MFS Growth Fund | 5.3% |
| MFS Mid Cap Value Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Mid Cap Growth Fund | 3.9% |
| MFS Research International Fund | 3.8% |
| MFS Commodity Strategy Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Emerging Markets Debt Fund | 2.0% |
| MFS Global Real Estate Fund | 2.0% |
| MFS International Intrinsic Value Fund | 1.6% |
| MFS International Large Cap Value Fund | 1.6% |
| MFS International Growth Fund | 1.6% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.0% |
| MFS New Discovery Value Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

CONR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Conservative

Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-MACNX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Conservative Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R3 | $18 | 0.34% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 3688377721 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2219012.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Total Return Bond Fund | 14.5% |
| MFS Limited Maturity Fund | 10.0% |
| MFS Inflation-Adjusted Bond Fund | 10.0% |
| MFS Government Securities Fund | 9.8% |
| MFS Global Opportunistic Bond Fund | 7.0% |
| MFS Value Fund | 6.1% |
| MFS Research Fund | 5.3% |
| MFS Growth Fund | 5.3% |
| MFS Mid Cap Value Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Mid Cap Growth Fund | 3.9% |
| MFS Research International Fund | 3.8% |
| MFS Commodity Strategy Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Emerging Markets Debt Fund | 2.0% |
| MFS Global Real Estate Fund | 2.0% |
| MFS International Intrinsic Value Fund | 1.6% |
| MFS International Large Cap Value Fund | 1.6% |
| MFS International Growth Fund | 1.6% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.0% |
| MFS New Discovery Value Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

CONR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Conservative

Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-MACJX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Conservative Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R4 | $5 | 0.09% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 3688377721 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2219106.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Total Return Bond Fund | 14.5% |
| MFS Limited Maturity Fund | 10.0% |
| MFS Inflation-Adjusted Bond Fund | 10.0% |
| MFS Government Securities Fund | 9.8% |
| MFS Global Opportunistic Bond Fund | 7.0% |
| MFS Value Fund | 6.1% |
| MFS Research Fund | 5.3% |
| MFS Growth Fund | 5.3% |
| MFS Mid Cap Value Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Mid Cap Growth Fund | 3.9% |
| MFS Research International Fund | 3.8% |
| MFS Commodity Strategy Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Emerging Markets Debt Fund | 2.0% |
| MFS Global Real Estate Fund | 2.0% |
| MFS International Intrinsic Value Fund | 1.6% |
| MFS International Large Cap Value Fund | 1.6% |
| MFS International Growth Fund | 1.6% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.0% |
| MFS New Discovery Value Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

CONR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Conservative

Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-MACQX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Conservative Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R6 | $2 | 0.03% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 3688377721 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2219200.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Total Return Bond Fund | 14.5% |
| MFS Limited Maturity Fund | 10.0% |
| MFS Inflation-Adjusted Bond Fund | 10.0% |
| MFS Government Securities Fund | 9.8% |
| MFS Global Opportunistic Bond Fund | 7.0% |
| MFS Value Fund | 6.1% |
| MFS Research Fund | 5.3% |
| MFS Growth Fund | 5.3% |
| MFS Mid Cap Value Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Mid Cap Growth Fund | 3.9% |
| MFS Research International Fund | 3.8% |
| MFS Commodity Strategy Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Emerging Markets Debt Fund | 2.0% |
| MFS Global Real Estate Fund | 2.0% |
| MFS International Intrinsic Value Fund | 1.6% |
| MFS International Large Cap Value Fund | 1.6% |
| MFS International Growth Fund | 1.6% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.0% |
| MFS New Discovery Value Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

CONR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-MAGWX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| A | $18 | 0.34% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6723701793 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2219294.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 10.1% |
| MFS Research Fund | 9.3% |
| MFS Growth Fund | 9.2% |
| MFS Mid Cap Value Fund | 9.1% |
| MFS Mid Cap Growth Fund | 8.7% |
| MFS Research International Fund | 7.2% |
| MFS Inflation-Adjusted Bond Fund | 5.0% |
| MFS Commodity Strategy Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Global Real Estate Fund | 4.0% |
| MFS International Intrinsic Value Fund | 3.1% |
| MFS International Large Cap Value Fund | 3.1% |
| MFS International Growth Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Opportunistic Bond Fund | 3.0% |
| MFS Total Return Bond Fund | 2.5% |
| MFS New Discovery Fund | 2.0% |
| MFS International New Discovery Fund | 2.1% |
| MFS Emerging Markets Equity Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS New Discovery Value Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

GROA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-MBGWX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| B | $57 | 1.09% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6723701793 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2219388.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 10.1% |
| MFS Research Fund | 9.3% |
| MFS Growth Fund | 9.2% |
| MFS Mid Cap Value Fund | 9.1% |
| MFS Mid Cap Growth Fund | 8.7% |
| MFS Research International Fund | 7.2% |
| MFS Inflation-Adjusted Bond Fund | 5.0% |
| MFS Commodity Strategy Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Global Real Estate Fund | 4.0% |
| MFS International Intrinsic Value Fund | 3.1% |
| MFS International Large Cap Value Fund | 3.1% |
| MFS International Growth Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Opportunistic Bond Fund | 3.0% |
| MFS Total Return Bond Fund | 2.5% |
| MFS New Discovery Fund | 2.0% |
| MFS International New Discovery Fund | 2.1% |
| MFS Emerging Markets Equity Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS New Discovery Value Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

GROB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-MCGWX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| C | $57 | 1.09% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6723701793 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2219482.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 10.1% |
| MFS Research Fund | 9.3% |
| MFS Growth Fund | 9.2% |
| MFS Mid Cap Value Fund | 9.1% |
| MFS Mid Cap Growth Fund | 8.7% |
| MFS Research International Fund | 7.2% |
| MFS Inflation-Adjusted Bond Fund | 5.0% |
| MFS Commodity Strategy Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Global Real Estate Fund | 4.0% |
| MFS International Intrinsic Value Fund | 3.1% |
| MFS International Large Cap Value Fund | 3.1% |
| MFS International Growth Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Opportunistic Bond Fund | 3.0% |
| MFS Total Return Bond Fund | 2.5% |
| MFS New Discovery Fund | 2.0% |
| MFS International New Discovery Fund | 2.1% |
| MFS Emerging Markets Equity Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS New Discovery Value Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

GROC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-MGWIX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| I | $5 | 0.09% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6723701793 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2219576.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 10.1% |
| MFS Research Fund | 9.3% |
| MFS Growth Fund | 9.2% |
| MFS Mid Cap Value Fund | 9.1% |
| MFS Mid Cap Growth Fund | 8.7% |
| MFS Research International Fund | 7.2% |
| MFS Inflation-Adjusted Bond Fund | 5.0% |
| MFS Commodity Strategy Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Global Real Estate Fund | 4.0% |
| MFS International Intrinsic Value Fund | 3.1% |
| MFS International Large Cap Value Fund | 3.1% |
| MFS International Growth Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Opportunistic Bond Fund | 3.0% |
| MFS Total Return Bond Fund | 2.5% |
| MFS New Discovery Fund | 2.0% |
| MFS International New Discovery Fund | 2.1% |
| MFS Emerging Markets Equity Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS New Discovery Value Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

GROI-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-MAGMX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R1 | $57 | 1.09% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6723701793 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2219670.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 10.1% |
| MFS Research Fund | 9.3% |
| MFS Growth Fund | 9.2% |
| MFS Mid Cap Value Fund | 9.1% |
| MFS Mid Cap Growth Fund | 8.7% |
| MFS Research International Fund | 7.2% |
| MFS Inflation-Adjusted Bond Fund | 5.0% |
| MFS Commodity Strategy Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Global Real Estate Fund | 4.0% |
| MFS International Intrinsic Value Fund | 3.1% |
| MFS International Large Cap Value Fund | 3.1% |
| MFS International Growth Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Opportunistic Bond Fund | 3.0% |
| MFS Total Return Bond Fund | 2.5% |
| MFS New Discovery Fund | 2.0% |
| MFS International New Discovery Fund | 2.1% |
| MFS Emerging Markets Equity Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS New Discovery Value Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

GROR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-MGALX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R2 | $31 | 0.59% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6723701793 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2219764.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 10.1% |
| MFS Research Fund | 9.3% |
| MFS Growth Fund | 9.2% |
| MFS Mid Cap Value Fund | 9.1% |
| MFS Mid Cap Growth Fund | 8.7% |
| MFS Research International Fund | 7.2% |
| MFS Inflation-Adjusted Bond Fund | 5.0% |
| MFS Commodity Strategy Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Global Real Estate Fund | 4.0% |
| MFS International Intrinsic Value Fund | 3.1% |
| MFS International Large Cap Value Fund | 3.1% |
| MFS International Growth Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Opportunistic Bond Fund | 3.0% |
| MFS Total Return Bond Fund | 2.5% |
| MFS New Discovery Fund | 2.0% |
| MFS International New Discovery Fund | 2.1% |
| MFS Emerging Markets Equity Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS New Discovery Value Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

GROR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-MAGEX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R3 | $18 | 0.34% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6723701793 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2219858.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 10.1% |
| MFS Research Fund | 9.3% |
| MFS Growth Fund | 9.2% |
| MFS Mid Cap Value Fund | 9.1% |
| MFS Mid Cap Growth Fund | 8.7% |
| MFS Research International Fund | 7.2% |
| MFS Inflation-Adjusted Bond Fund | 5.0% |
| MFS Commodity Strategy Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Global Real Estate Fund | 4.0% |
| MFS International Intrinsic Value Fund | 3.1% |
| MFS International Large Cap Value Fund | 3.1% |
| MFS International Growth Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Opportunistic Bond Fund | 3.0% |
| MFS Total Return Bond Fund | 2.5% |
| MFS New Discovery Fund | 2.0% |
| MFS International New Discovery Fund | 2.1% |
| MFS Emerging Markets Equity Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS New Discovery Value Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

GROR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-MAGJX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R4 | $5 | 0.09% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6723701793 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2219952.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 10.1% |
| MFS Research Fund | 9.3% |
| MFS Growth Fund | 9.2% |
| MFS Mid Cap Value Fund | 9.1% |
| MFS Mid Cap Growth Fund | 8.7% |
| MFS Research International Fund | 7.2% |
| MFS Inflation-Adjusted Bond Fund | 5.0% |
| MFS Commodity Strategy Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Global Real Estate Fund | 4.0% |
| MFS International Intrinsic Value Fund | 3.1% |
| MFS International Large Cap Value Fund | 3.1% |
| MFS International Growth Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Opportunistic Bond Fund | 3.0% |
| MFS Total Return Bond Fund | 2.5% |
| MFS New Discovery Fund | 2.0% |
| MFS International New Discovery Fund | 2.1% |
| MFS Emerging Markets Equity Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS New Discovery Value Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

GROR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Growth Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-MAGQX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Growth Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R6 | $1 | 0.02% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6723701793 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 22 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2220046.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Value Fund | 10.1% |
| MFS Research Fund | 9.3% |
| MFS Growth Fund | 9.2% |
| MFS Mid Cap Value Fund | 9.1% |
| MFS Mid Cap Growth Fund | 8.7% |
| MFS Research International Fund | 7.2% |
| MFS Inflation-Adjusted Bond Fund | 5.0% |
| MFS Commodity Strategy Fund | 4.0% |
| MFS High Income Fund | 4.0% |
| MFS Global Real Estate Fund | 4.0% |
| MFS International Intrinsic Value Fund | 3.1% |
| MFS International Large Cap Value Fund | 3.1% |
| MFS International Growth Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Opportunistic Bond Fund | 3.0% |
| MFS Total Return Bond Fund | 2.5% |
| MFS New Discovery Fund | 2.0% |
| MFS International New Discovery Fund | 2.1% |
| MFS Emerging Markets Equity Fund | 2.0% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS New Discovery Value Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

GROR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Moderate Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-MAMAX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Moderate Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| A | $18 | 0.34% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6540041581 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 23 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2220140.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Government Securities Fund | 9.8% |
| MFS Total Return Bond Fund | 8.5% |
| MFS Value Fund | 8.1% |
| MFS Research Fund | 7.3% |
| MFS Growth Fund | 7.2% |
| MFS Mid Cap Value Fund | 7.1% |
| MFS Inflation-Adjusted Bond Fund | 7.0% |
| MFS Mid Cap Growth Fund | 6.8% |
| MFS Research International Fund | 5.2% |
| MFS Global Opportunistic Bond Fund | 5.0% |
| MFS High Income Fund | 4.0% |
| MFS Commodity Strategy Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Real Estate Fund | 3.0% |
| MFS International Intrinsic Value Fund | 2.1% |
| MFS International Large Cap Value Fund | 2.1% |
| MFS International Growth Fund | 2.1% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.5% |
| MFS New Discovery Value Fund | 1.5% |
| MFS Emerging Markets Equity Fund | 1.1% |
| MFS International New Discovery Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MODA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Moderate Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-MMABX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Moderate Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| B | $56 | 1.08% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6540041581 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 23 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2220234.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Government Securities Fund | 9.8% |
| MFS Total Return Bond Fund | 8.5% |
| MFS Value Fund | 8.1% |
| MFS Research Fund | 7.3% |
| MFS Growth Fund | 7.2% |
| MFS Mid Cap Value Fund | 7.1% |
| MFS Inflation-Adjusted Bond Fund | 7.0% |
| MFS Mid Cap Growth Fund | 6.8% |
| MFS Research International Fund | 5.2% |
| MFS Global Opportunistic Bond Fund | 5.0% |
| MFS High Income Fund | 4.0% |
| MFS Commodity Strategy Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Real Estate Fund | 3.0% |
| MFS International Intrinsic Value Fund | 2.1% |
| MFS International Large Cap Value Fund | 2.1% |
| MFS International Growth Fund | 2.1% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.5% |
| MFS New Discovery Value Fund | 1.5% |
| MFS Emerging Markets Equity Fund | 1.1% |
| MFS International New Discovery Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MODB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Moderate Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-MMACX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Moderate Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| C | $56 | 1.08% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6540041581 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 23 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2220328.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Government Securities Fund | 9.8% |
| MFS Total Return Bond Fund | 8.5% |
| MFS Value Fund | 8.1% |
| MFS Research Fund | 7.3% |
| MFS Growth Fund | 7.2% |
| MFS Mid Cap Value Fund | 7.1% |
| MFS Inflation-Adjusted Bond Fund | 7.0% |
| MFS Mid Cap Growth Fund | 6.8% |
| MFS Research International Fund | 5.2% |
| MFS Global Opportunistic Bond Fund | 5.0% |
| MFS High Income Fund | 4.0% |
| MFS Commodity Strategy Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Real Estate Fund | 3.0% |
| MFS International Intrinsic Value Fund | 2.1% |
| MFS International Large Cap Value Fund | 2.1% |
| MFS International Growth Fund | 2.1% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.5% |
| MFS New Discovery Value Fund | 1.5% |
| MFS Emerging Markets Equity Fund | 1.1% |
| MFS International New Discovery Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MODC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Moderate Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-MMAIX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Moderate Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| I | $5 | 0.09% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6540041581 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 23 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2220422.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Government Securities Fund | 9.8% |
| MFS Total Return Bond Fund | 8.5% |
| MFS Value Fund | 8.1% |
| MFS Research Fund | 7.3% |
| MFS Growth Fund | 7.2% |
| MFS Mid Cap Value Fund | 7.1% |
| MFS Inflation-Adjusted Bond Fund | 7.0% |
| MFS Mid Cap Growth Fund | 6.8% |
| MFS Research International Fund | 5.2% |
| MFS Global Opportunistic Bond Fund | 5.0% |
| MFS High Income Fund | 4.0% |
| MFS Commodity Strategy Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Real Estate Fund | 3.0% |
| MFS International Intrinsic Value Fund | 2.1% |
| MFS International Large Cap Value Fund | 2.1% |
| MFS International Growth Fund | 2.1% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.5% |
| MFS New Discovery Value Fund | 1.5% |
| MFS Emerging Markets Equity Fund | 1.1% |
| MFS International New Discovery Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MODI-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Moderate Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-MAMFX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Moderate Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R1 | $56 | 1.08% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6540041581 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 23 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2220516.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Government Securities Fund | 9.8% |
| MFS Total Return Bond Fund | 8.5% |
| MFS Value Fund | 8.1% |
| MFS Research Fund | 7.3% |
| MFS Growth Fund | 7.2% |
| MFS Mid Cap Value Fund | 7.1% |
| MFS Inflation-Adjusted Bond Fund | 7.0% |
| MFS Mid Cap Growth Fund | 6.8% |
| MFS Research International Fund | 5.2% |
| MFS Global Opportunistic Bond Fund | 5.0% |
| MFS High Income Fund | 4.0% |
| MFS Commodity Strategy Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Real Estate Fund | 3.0% |
| MFS International Intrinsic Value Fund | 2.1% |
| MFS International Large Cap Value Fund | 2.1% |
| MFS International Growth Fund | 2.1% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.5% |
| MFS New Discovery Value Fund | 1.5% |
| MFS Emerging Markets Equity Fund | 1.1% |
| MFS International New Discovery Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MODR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Moderate Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-MARRX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Moderate Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R2 | $31 | 0.59% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6540041581 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 23 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2220610.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Government Securities Fund | 9.8% |
| MFS Total Return Bond Fund | 8.5% |
| MFS Value Fund | 8.1% |
| MFS Research Fund | 7.3% |
| MFS Growth Fund | 7.2% |
| MFS Mid Cap Value Fund | 7.1% |
| MFS Inflation-Adjusted Bond Fund | 7.0% |
| MFS Mid Cap Growth Fund | 6.8% |
| MFS Research International Fund | 5.2% |
| MFS Global Opportunistic Bond Fund | 5.0% |
| MFS High Income Fund | 4.0% |
| MFS Commodity Strategy Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Real Estate Fund | 3.0% |
| MFS International Intrinsic Value Fund | 2.1% |
| MFS International Large Cap Value Fund | 2.1% |
| MFS International Growth Fund | 2.1% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.5% |
| MFS New Discovery Value Fund | 1.5% |
| MFS Emerging Markets Equity Fund | 1.1% |
| MFS International New Discovery Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MODR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Moderate Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-MAMHX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Moderate Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R3 | $18 | 0.34% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6540041581 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 23 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2220704.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Government Securities Fund | 9.8% |
| MFS Total Return Bond Fund | 8.5% |
| MFS Value Fund | 8.1% |
| MFS Research Fund | 7.3% |
| MFS Growth Fund | 7.2% |
| MFS Mid Cap Value Fund | 7.1% |
| MFS Inflation-Adjusted Bond Fund | 7.0% |
| MFS Mid Cap Growth Fund | 6.8% |
| MFS Research International Fund | 5.2% |
| MFS Global Opportunistic Bond Fund | 5.0% |
| MFS High Income Fund | 4.0% |
| MFS Commodity Strategy Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Real Estate Fund | 3.0% |
| MFS International Intrinsic Value Fund | 2.1% |
| MFS International Large Cap Value Fund | 2.1% |
| MFS International Growth Fund | 2.1% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.5% |
| MFS New Discovery Value Fund | 1.5% |
| MFS Emerging Markets Equity Fund | 1.1% |
| MFS International New Discovery Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MODR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Moderate Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-MAMJX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Moderate Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R4 | $5 | 0.09% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6540041581 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 23 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2220798.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Government Securities Fund | 9.8% |
| MFS Total Return Bond Fund | 8.5% |
| MFS Value Fund | 8.1% |
| MFS Research Fund | 7.3% |
| MFS Growth Fund | 7.2% |
| MFS Mid Cap Value Fund | 7.1% |
| MFS Inflation-Adjusted Bond Fund | 7.0% |
| MFS Mid Cap Growth Fund | 6.8% |
| MFS Research International Fund | 5.2% |
| MFS Global Opportunistic Bond Fund | 5.0% |
| MFS High Income Fund | 4.0% |
| MFS Commodity Strategy Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Real Estate Fund | 3.0% |
| MFS International Intrinsic Value Fund | 2.1% |
| MFS International Large Cap Value Fund | 2.1% |
| MFS International Growth Fund | 2.1% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.5% |
| MFS New Discovery Value Fund | 1.5% |
| MFS Emerging Markets Equity Fund | 1.1% |
| MFS International New Discovery Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MODR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Moderate Allocation Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-MAMPX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Moderate Allocation Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R6 | $1 | 0.02% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 6540041581 | Portfolio Turnover Rate (%):<sub>3</sub> |
| Total Number of Holdings: | 23 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2220892.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Government Securities Fund | 9.8% |
| MFS Total Return Bond Fund | 8.5% |
| MFS Value Fund | 8.1% |
| MFS Research Fund | 7.3% |
| MFS Growth Fund | 7.2% |
| MFS Mid Cap Value Fund | 7.1% |
| MFS Inflation-Adjusted Bond Fund | 7.0% |
| MFS Mid Cap Growth Fund | 6.8% |
| MFS Research International Fund | 5.2% |
| MFS Global Opportunistic Bond Fund | 5.0% |
| MFS High Income Fund | 4.0% |
| MFS Commodity Strategy Fund | 3.1% |
| MFS Emerging Markets Debt Fund | 3.0% |
| MFS Global Real Estate Fund | 3.0% |
| MFS International Intrinsic Value Fund | 2.1% |
| MFS International Large Cap Value Fund | 2.1% |
| MFS International Growth Fund | 2.1% |
| MFS Emerging Markets Debt Local Currency Fund | 2.0% |
| MFS Institutional Money Market Portfolio | 1.5% |
| MFS New Discovery Fund | 1.5% |
| MFS New Discovery Value Fund | 1.5% |
| MFS Emerging Markets Equity Fund | 1.1% |
| MFS International New Discovery Fund | 1.0% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MODR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Mid Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-BMSFX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Mid Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| A | $44 | 0.84% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2290387952 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 147 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.4% |
| Money Market Funds | 0.6% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Industrials | 18.0% |
| Financials | 15.9% |
| Consumer Discretionary | 11.9% |
| Information Technology | 11.5% |
| Health Care | 11.1% |
| Real Estate | 7.7% |
| Utilities | 7.6% |
| Energy | 5.4% |
| Consumer Staples | 4.0% |
| Materials | 3.3% |
| Communication Services | 3.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Valero Energy Corp. | 1.7% |
| Phillips 66 | 1.7% |
| Wabtec Corp. | 1.7% |
| TechnipFMC PLC | 1.7% |
| Ameriprise Financial, Inc. | 1.6% |
| O'Reilly Automotive, Inc. | 1.6% |
| Popular, Inc. | 1.6% |
| Roblox Corp., "A" | 1.6% |
| Synchrony Financial | 1.6% |
| Leidos Holdings, Inc. | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BMSA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Mid Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-BMSBX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Mid Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| B | $83 | 1.59% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2290387952 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 147 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.4% |
| Money Market Funds | 0.6% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Industrials | 18.0% |
| Financials | 15.9% |
| Consumer Discretionary | 11.9% |
| Information Technology | 11.5% |
| Health Care | 11.1% |
| Real Estate | 7.7% |
| Utilities | 7.6% |
| Energy | 5.4% |
| Consumer Staples | 4.0% |
| Materials | 3.3% |
| Communication Services | 3.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Valero Energy Corp. | 1.7% |
| Phillips 66 | 1.7% |
| Wabtec Corp. | 1.7% |
| TechnipFMC PLC | 1.7% |
| Ameriprise Financial, Inc. | 1.6% |
| O'Reilly Automotive, Inc. | 1.6% |
| Popular, Inc. | 1.6% |
| Roblox Corp., "A" | 1.6% |
| Synchrony Financial | 1.6% |
| Leidos Holdings, Inc. | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BMSB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Mid Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-BMSDX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Mid Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| C | $83 | 1.59% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2290387952 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 147 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.4% |
| Money Market Funds | 0.6% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Industrials | 18.0% |
| Financials | 15.9% |
| Consumer Discretionary | 11.9% |
| Information Technology | 11.5% |
| Health Care | 11.1% |
| Real Estate | 7.7% |
| Utilities | 7.6% |
| Energy | 5.4% |
| Consumer Staples | 4.0% |
| Materials | 3.3% |
| Communication Services | 3.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Valero Energy Corp. | 1.7% |
| Phillips 66 | 1.7% |
| Wabtec Corp. | 1.7% |
| TechnipFMC PLC | 1.7% |
| Ameriprise Financial, Inc. | 1.6% |
| O'Reilly Automotive, Inc. | 1.6% |
| Popular, Inc. | 1.6% |
| Roblox Corp., "A" | 1.6% |
| Synchrony Financial | 1.6% |
| Leidos Holdings, Inc. | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BMSC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Mid Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-BMSLX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Mid Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| I | $31 | 0.59% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2290387952 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 147 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.4% |
| Money Market Funds | 0.6% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Industrials | 18.0% |
| Financials | 15.9% |
| Consumer Discretionary | 11.9% |
| Information Technology | 11.5% |
| Health Care | 11.1% |
| Real Estate | 7.7% |
| Utilities | 7.6% |
| Energy | 5.4% |
| Consumer Staples | 4.0% |
| Materials | 3.3% |
| Communication Services | 3.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Valero Energy Corp. | 1.7% |
| Phillips 66 | 1.7% |
| Wabtec Corp. | 1.7% |
| TechnipFMC PLC | 1.7% |
| Ameriprise Financial, Inc. | 1.6% |
| O'Reilly Automotive, Inc. | 1.6% |
| Popular, Inc. | 1.6% |
| Roblox Corp., "A" | 1.6% |
| Synchrony Financial | 1.6% |
| Leidos Holdings, Inc. | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BMSI-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Mid Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-BMSRX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Mid Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R1 | $44 | 0.84% |

---

For the period from June 1, 2025 through November 30, 2025, the distribution fee was not imposed. Had the distribution fee been imposed throughout the entire period, the "Costs of a $10,000 investment" and the "Costs paid as a percentage of a $10,000 investment (annualized)" would have been approximately $83 and 1.59%, respectively.

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2290387952 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 147 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.4% |
| Money Market Funds | 0.6% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Industrials | 18.0% |
| Financials | 15.9% |
| Consumer Discretionary | 11.9% |
| Information Technology | 11.5% |
| Health Care | 11.1% |
| Real Estate | 7.7% |
| Utilities | 7.6% |
| Energy | 5.4% |
| Consumer Staples | 4.0% |
| Materials | 3.3% |
| Communication Services | 3.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Valero Energy Corp. | 1.7% |
| Phillips 66 | 1.7% |
| Wabtec Corp. | 1.7% |
| TechnipFMC PLC | 1.7% |
| Ameriprise Financial, Inc. | 1.6% |
| O'Reilly Automotive, Inc. | 1.6% |
| Popular, Inc. | 1.6% |
| Roblox Corp., "A" | 1.6% |
| Synchrony Financial | 1.6% |
| Leidos Holdings, Inc. | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BMSR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Mid Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-BMSSX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Mid Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R2 | $57 | 1.09% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2290387952 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 147 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.4% |
| Money Market Funds | 0.6% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Industrials | 18.0% |
| Financials | 15.9% |
| Consumer Discretionary | 11.9% |
| Information Technology | 11.5% |
| Health Care | 11.1% |
| Real Estate | 7.7% |
| Utilities | 7.6% |
| Energy | 5.4% |
| Consumer Staples | 4.0% |
| Materials | 3.3% |
| Communication Services | 3.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Valero Energy Corp. | 1.7% |
| Phillips 66 | 1.7% |
| Wabtec Corp. | 1.7% |
| TechnipFMC PLC | 1.7% |
| Ameriprise Financial, Inc. | 1.6% |
| O'Reilly Automotive, Inc. | 1.6% |
| Popular, Inc. | 1.6% |
| Roblox Corp., "A" | 1.6% |
| Synchrony Financial | 1.6% |
| Leidos Holdings, Inc. | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BMSR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Mid Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-BMSTX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Mid Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R3 | $44 | 0.84% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2290387952 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 147 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.4% |
| Money Market Funds | 0.6% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Industrials | 18.0% |
| Financials | 15.9% |
| Consumer Discretionary | 11.9% |
| Information Technology | 11.5% |
| Health Care | 11.1% |
| Real Estate | 7.7% |
| Utilities | 7.6% |
| Energy | 5.4% |
| Consumer Staples | 4.0% |
| Materials | 3.3% |
| Communication Services | 3.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Valero Energy Corp. | 1.7% |
| Phillips 66 | 1.7% |
| Wabtec Corp. | 1.7% |
| TechnipFMC PLC | 1.7% |
| Ameriprise Financial, Inc. | 1.6% |
| O'Reilly Automotive, Inc. | 1.6% |
| Popular, Inc. | 1.6% |
| Roblox Corp., "A" | 1.6% |
| Synchrony Financial | 1.6% |
| Leidos Holdings, Inc. | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BMSR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Mid Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-BMSVX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Mid Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R4 | $31 | 0.59% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2290387952 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 147 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.4% |
| Money Market Funds | 0.6% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Industrials | 18.0% |
| Financials | 15.9% |
| Consumer Discretionary | 11.9% |
| Information Technology | 11.5% |
| Health Care | 11.1% |
| Real Estate | 7.7% |
| Utilities | 7.6% |
| Energy | 5.4% |
| Consumer Staples | 4.0% |
| Materials | 3.3% |
| Communication Services | 3.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Valero Energy Corp. | 1.7% |
| Phillips 66 | 1.7% |
| Wabtec Corp. | 1.7% |
| TechnipFMC PLC | 1.7% |
| Ameriprise Financial, Inc. | 1.6% |
| O'Reilly Automotive, Inc. | 1.6% |
| Popular, Inc. | 1.6% |
| Roblox Corp., "A" | 1.6% |
| Synchrony Financial | 1.6% |
| Leidos Holdings, Inc. | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BMSR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Mid Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-BMSYX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Mid Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R6 | $26 | 0.49% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2290387952 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 147 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.4% |
| Money Market Funds | 0.6% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Industrials | 18.0% |
| Financials | 15.9% |
| Consumer Discretionary | 11.9% |
| Information Technology | 11.5% |
| Health Care | 11.1% |
| Real Estate | 7.7% |
| Utilities | 7.6% |
| Energy | 5.4% |
| Consumer Staples | 4.0% |
| Materials | 3.3% |
| Communication Services | 3.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Valero Energy Corp. | 1.7% |
| Phillips 66 | 1.7% |
| Wabtec Corp. | 1.7% |
| TechnipFMC PLC | 1.7% |
| Ameriprise Financial, Inc. | 1.6% |
| O'Reilly Automotive, Inc. | 1.6% |
| Popular, Inc. | 1.6% |
| Roblox Corp., "A" | 1.6% |
| Synchrony Financial | 1.6% |
| Leidos Holdings, Inc. | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BMSR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Small Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-BRSDX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Small Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| A | $54 | 0.99% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 313770070 | Portfolio Turnover Rate (%): | 37 |
| Total Number of Holdings: | 182 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.3% |
| Money Market Funds | 0.7% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Health Care | 19.2% |
| Financials | 17.3% |
| Industrials | 17.3% |
| Information Technology | 15.3% |
| Consumer Discretionary | 7.9% |
| Real Estate | 5.5% |
| Energy | 5.2% |
| Materials | 4.3% |
| Utilities | 3.4% |
| Communication Services | 2.5% |
| Consumer Staples | 1.4% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Advanced Energy Industries, Inc. | 1.7% |
| Portland General Electric Co. | 1.6% |
| Popular, Inc. | 1.5% |
| Armstrong World Industries, Inc. | 1.4% |
| Flowserve Corp. | 1.4% |
| UMB Financial Corp. | 1.4% |
| Texas Capital Bancshares, Inc. | 1.4% |
| GeneDX Holdings Corp. | 1.4% |
| Banc of California, Inc. | 1.4% |
| Essential Properties Realty Trust, REIT | 1.4% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRSA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Small Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-BRSBX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Small Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| B | $94 | 1.74% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 313770070 | Portfolio Turnover Rate (%): | 37 |
| Total Number of Holdings: | 182 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.3% |
| Money Market Funds | 0.7% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Health Care | 19.2% |
| Financials | 17.3% |
| Industrials | 17.3% |
| Information Technology | 15.3% |
| Consumer Discretionary | 7.9% |
| Real Estate | 5.5% |
| Energy | 5.2% |
| Materials | 4.3% |
| Utilities | 3.4% |
| Communication Services | 2.5% |
| Consumer Staples | 1.4% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Advanced Energy Industries, Inc. | 1.7% |
| Portland General Electric Co. | 1.6% |
| Popular, Inc. | 1.5% |
| Armstrong World Industries, Inc. | 1.4% |
| Flowserve Corp. | 1.4% |
| UMB Financial Corp. | 1.4% |
| Texas Capital Bancshares, Inc. | 1.4% |
| GeneDX Holdings Corp. | 1.4% |
| Banc of California, Inc. | 1.4% |
| Essential Properties Realty Trust, REIT | 1.4% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRSB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Small Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-BRSHX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Small Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| C | $94 | 1.74% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 313770070 | Portfolio Turnover Rate (%): | 37 |
| Total Number of Holdings: | 182 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.3% |
| Money Market Funds | 0.7% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Health Care | 19.2% |
| Financials | 17.3% |
| Industrials | 17.3% |
| Information Technology | 15.3% |
| Consumer Discretionary | 7.9% |
| Real Estate | 5.5% |
| Energy | 5.2% |
| Materials | 4.3% |
| Utilities | 3.4% |
| Communication Services | 2.5% |
| Consumer Staples | 1.4% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Advanced Energy Industries, Inc. | 1.7% |
| Portland General Electric Co. | 1.6% |
| Popular, Inc. | 1.5% |
| Armstrong World Industries, Inc. | 1.4% |
| Flowserve Corp. | 1.4% |
| UMB Financial Corp. | 1.4% |
| Texas Capital Bancshares, Inc. | 1.4% |
| GeneDX Holdings Corp. | 1.4% |
| Banc of California, Inc. | 1.4% |
| Essential Properties Realty Trust, REIT | 1.4% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRSC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Small Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-BRSJX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Small Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| I | $40 | 0.74% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 313770070 | Portfolio Turnover Rate (%): | 37.0 |
| Total Number of Holdings: | 182 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

**Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.3% |
| Money Market Funds | 0.7% |

---

**Equity sectors**

---

| | |
|:---|:---|
| Health Care | 19.2% |
| Financials | 17.3% |
| Industrials | 17.3% |
| Information Technology | 15.3% |
| Consumer Discretionary | 7.9% |
| Real Estate | 5.5% |
| Energy | 5.2% |
| Materials | 4.3% |
| Utilities | 3.4% |
| Communication Services | 2.5% |
| Consumer Staples | 1.4% |

---

**Top ten holdings**

---

| | |
|:---|:---|
| Advanced Energy Industries, Inc. | 1.7% |
| Portland General Electric Co. | 1.6% |
| Popular, Inc. | 1.5% |
| Armstrong World Industries, Inc. | 1.4% |
| Flowserve Corp. | 1.4% |
| UMB Financial Corp. | 1.4% |
| Texas Capital Bancshares, Inc. | 1.4% |
| GeneDX Holdings Corp. | 1.4% |
| Banc of California, Inc. | 1.4% |
| Essential Properties Realty Trust, REIT | 1.4% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRSI-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Small Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-BRSPX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Small Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R1 | $94 | 1.74% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 313770070 | Portfolio Turnover Rate (%): | 37 |
| Total Number of Holdings: | 182 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.3% |
| Money Market Funds | 0.7% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Health Care | 19.2% |
| Financials | 17.3% |
| Industrials | 17.3% |
| Information Technology | 15.3% |
| Consumer Discretionary | 7.9% |
| Real Estate | 5.5% |
| Energy | 5.2% |
| Materials | 4.3% |
| Utilities | 3.4% |
| Communication Services | 2.5% |
| Consumer Staples | 1.4% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Advanced Energy Industries, Inc. | 1.7% |
| Portland General Electric Co. | 1.6% |
| Popular, Inc. | 1.5% |
| Armstrong World Industries, Inc. | 1.4% |
| Flowserve Corp. | 1.4% |
| UMB Financial Corp. | 1.4% |
| Texas Capital Bancshares, Inc. | 1.4% |
| GeneDX Holdings Corp. | 1.4% |
| Banc of California, Inc. | 1.4% |
| Essential Properties Realty Trust, REIT | 1.4% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRSR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Small Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-BRSSX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Small Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R2 | $67 | 1.24% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 313770070 | Portfolio Turnover Rate (%): | 37 |
| Total Number of Holdings: | 182 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.3% |
| Money Market Funds | 0.7% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Health Care | 19.2% |
| Financials | 17.3% |
| Industrials | 17.3% |
| Information Technology | 15.3% |
| Consumer Discretionary | 7.9% |
| Real Estate | 5.5% |
| Energy | 5.2% |
| Materials | 4.3% |
| Utilities | 3.4% |
| Communication Services | 2.5% |
| Consumer Staples | 1.4% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Advanced Energy Industries, Inc. | 1.7% |
| Portland General Electric Co. | 1.6% |
| Popular, Inc. | 1.5% |
| Armstrong World Industries, Inc. | 1.4% |
| Flowserve Corp. | 1.4% |
| UMB Financial Corp. | 1.4% |
| Texas Capital Bancshares, Inc. | 1.4% |
| GeneDX Holdings Corp. | 1.4% |
| Banc of California, Inc. | 1.4% |
| Essential Properties Realty Trust, REIT | 1.4% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRSR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Small Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-BRSTX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Small Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R3 | $54 | 0.99% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 313770070 | Portfolio Turnover Rate (%): | 37 |
| Total Number of Holdings: | 182 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.3% |
| Money Market Funds | 0.7% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Health Care | 19.2% |
| Financials | 17.3% |
| Industrials | 17.3% |
| Information Technology | 15.3% |
| Consumer Discretionary | 7.9% |
| Real Estate | 5.5% |
| Energy | 5.2% |
| Materials | 4.3% |
| Utilities | 3.4% |
| Communication Services | 2.5% |
| Consumer Staples | 1.4% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Advanced Energy Industries, Inc. | 1.7% |
| Portland General Electric Co. | 1.6% |
| Popular, Inc. | 1.5% |
| Armstrong World Industries, Inc. | 1.4% |
| Flowserve Corp. | 1.4% |
| UMB Financial Corp. | 1.4% |
| Texas Capital Bancshares, Inc. | 1.4% |
| GeneDX Holdings Corp. | 1.4% |
| Banc of California, Inc. | 1.4% |
| Essential Properties Realty Trust, REIT | 1.4% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRSR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Small Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-BRSUX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Small Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R4 | $40 | 0.74% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 313770070 | Portfolio Turnover Rate (%): | 37 |
| Total Number of Holdings: | 182 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.3% |
| Money Market Funds | 0.7% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Health Care | 19.2% |
| Financials | 17.3% |
| Industrials | 17.3% |
| Information Technology | 15.3% |
| Consumer Discretionary | 7.9% |
| Real Estate | 5.5% |
| Energy | 5.2% |
| Materials | 4.3% |
| Utilities | 3.4% |
| Communication Services | 2.5% |
| Consumer Staples | 1.4% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Advanced Energy Industries, Inc. | 1.7% |
| Portland General Electric Co. | 1.6% |
| Popular, Inc. | 1.5% |
| Armstrong World Industries, Inc. | 1.4% |
| Flowserve Corp. | 1.4% |
| UMB Financial Corp. | 1.4% |
| Texas Capital Bancshares, Inc. | 1.4% |
| GeneDX Holdings Corp. | 1.4% |
| Banc of California, Inc. | 1.4% |
| Essential Properties Realty Trust, REIT | 1.4% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRSR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Small Cap Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-BRSYX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Small Cap Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R6 | $35 | 0.64% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 313770070 | Portfolio Turnover Rate (%): | 37 |
| Total Number of Holdings: | 182 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.3% |
| Money Market Funds | 0.7% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Health Care | 19.2% |
| Financials | 17.3% |
| Industrials | 17.3% |
| Information Technology | 15.3% |
| Consumer Discretionary | 7.9% |
| Real Estate | 5.5% |
| Energy | 5.2% |
| Materials | 4.3% |
| Utilities | 3.4% |
| Communication Services | 2.5% |
| Consumer Staples | 1.4% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Advanced Energy Industries, Inc. | 1.7% |
| Portland General Electric Co. | 1.6% |
| Popular, Inc. | 1.5% |
| Armstrong World Industries, Inc. | 1.4% |
| Flowserve Corp. | 1.4% |
| UMB Financial Corp. | 1.4% |
| Texas Capital Bancshares, Inc. | 1.4% |
| GeneDX Holdings Corp. | 1.4% |
| Banc of California, Inc. | 1.4% |
| Essential Properties Realty Trust, REIT | 1.4% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRSR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Value Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-BRUDX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Value Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| A | $37 | 0.71% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 314712597 | Portfolio Turnover Rate (%): | 28 |
| Total Number of Holdings: | 125 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.6% |
| Money Market Funds | 0.4% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.3% |
| Industrials | 12.9% |
| Health Care | 12.6% |
| Information Technology | 10.1% |
| Consumer Discretionary | 8.2% |
| Communication Services | 7.7% |
| Consumer Staples | 7.0% |
| Energy | 6.5% |
| Utilities | 5.2% |
| Real Estate | 3.9% |
| Materials | 3.2% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Johnson & Johnson | 3.0% |
| Alphabet, Inc., "A" | 2.6% |
| Amazon.com, Inc. | 2.4% |
| Wells Fargo & Co. | 2.3% |
| Citigroup, Inc. | 2.0% |
| Meta Platforms, Inc., "A" | 1.8% |
| Caterpillar, Inc. | 1.8% |
| Berkshire Hathaway, Inc., "B" | 1.7% |
| JPMorgan Chase & Co. | 1.7% |
| Medtronic PLC | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRUA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Value Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-BRUEX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Value Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| B | $77 | 1.46% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 314712597 | Portfolio Turnover Rate (%): | 28 |
| Total Number of Holdings: | 125 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.6% |
| Money Market Funds | 0.4% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.3% |
| Industrials | 12.9% |
| Health Care | 12.6% |
| Information Technology | 10.1% |
| Consumer Discretionary | 8.2% |
| Communication Services | 7.7% |
| Consumer Staples | 7.0% |
| Energy | 6.5% |
| Utilities | 5.2% |
| Real Estate | 3.9% |
| Materials | 3.2% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Johnson & Johnson | 3.0% |
| Alphabet, Inc., "A" | 2.6% |
| Amazon.com, Inc. | 2.4% |
| Wells Fargo & Co. | 2.3% |
| Citigroup, Inc. | 2.0% |
| Meta Platforms, Inc., "A" | 1.8% |
| Caterpillar, Inc. | 1.8% |
| Berkshire Hathaway, Inc., "B" | 1.7% |
| JPMorgan Chase & Co. | 1.7% |
| Medtronic PLC | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRUB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Value Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-BRUGX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Value Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| C | $77 | 1.46% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 314712597 | Portfolio Turnover Rate (%): | 28 |
| Total Number of Holdings: | 125 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.6% |
| Money Market Funds | 0.4% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.3% |
| Industrials | 12.9% |
| Health Care | 12.6% |
| Information Technology | 10.1% |
| Consumer Discretionary | 8.2% |
| Communication Services | 7.7% |
| Consumer Staples | 7.0% |
| Energy | 6.5% |
| Utilities | 5.2% |
| Real Estate | 3.9% |
| Materials | 3.2% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Johnson & Johnson | 3.0% |
| Alphabet, Inc., "A" | 2.6% |
| Amazon.com, Inc. | 2.4% |
| Wells Fargo & Co. | 2.3% |
| Citigroup, Inc. | 2.0% |
| Meta Platforms, Inc., "A" | 1.8% |
| Caterpillar, Inc. | 1.8% |
| Berkshire Hathaway, Inc., "B" | 1.7% |
| JPMorgan Chase & Co. | 1.7% |
| Medtronic PLC | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRUC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Value Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-BRUHX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Value Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| I | $24 | 0.46% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 314712597 | Portfolio Turnover Rate (%): | 28 |
| Total Number of Holdings: | 125 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.6% |
| Money Market Funds | 0.4% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.3% |
| Industrials | 12.9% |
| Health Care | 12.6% |
| Information Technology | 10.1% |
| Consumer Discretionary | 8.2% |
| Communication Services | 7.7% |
| Consumer Staples | 7.0% |
| Energy | 6.5% |
| Utilities | 5.2% |
| Real Estate | 3.9% |
| Materials | 3.2% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Johnson & Johnson | 3.0% |
| Alphabet, Inc., "A" | 2.6% |
| Amazon.com, Inc. | 2.4% |
| Wells Fargo & Co. | 2.3% |
| Citigroup, Inc. | 2.0% |
| Meta Platforms, Inc., "A" | 1.8% |
| Caterpillar, Inc. | 1.8% |
| Berkshire Hathaway, Inc., "B" | 1.7% |
| JPMorgan Chase & Co. | 1.7% |
| Medtronic PLC | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRUI-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Value Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-BRUJX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Value Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R1 | $37 | 0.71% |

---

For the period from June 1, 2025 through November 30, 2025, the distribution fee was not imposed. Had the distribution fee been imposed throughout the entire period, the "Costs of a $10,000 investment" and the "Costs paid as a percentage of a $10,000 investment (annualized)" would have been approximately $77 and 1.46%, respectively.

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 314712597 | Portfolio Turnover Rate (%): | 28 |
| Total Number of Holdings: | 125 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.6% |
| Money Market Funds | 0.4% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.3% |
| Industrials | 12.9% |
| Health Care | 12.6% |
| Information Technology | 10.1% |
| Consumer Discretionary | 8.2% |
| Communication Services | 7.7% |
| Consumer Staples | 7.0% |
| Energy | 6.5% |
| Utilities | 5.2% |
| Real Estate | 3.9% |
| Materials | 3.2% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Johnson & Johnson | 3.0% |
| Alphabet, Inc., "A" | 2.6% |
| Amazon.com, Inc. | 2.4% |
| Wells Fargo & Co. | 2.3% |
| Citigroup, Inc. | 2.0% |
| Meta Platforms, Inc., "A" | 1.8% |
| Caterpillar, Inc. | 1.8% |
| Berkshire Hathaway, Inc., "B" | 1.7% |
| JPMorgan Chase & Co. | 1.7% |
| Medtronic PLC | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRUR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Value Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-BRUKX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Value Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R2 | $51 | 0.96% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 314712597 | Portfolio Turnover Rate (%): | 28 |
| Total Number of Holdings: | 125 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.6% |
| Money Market Funds | 0.4% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.3% |
| Industrials | 12.9% |
| Health Care | 12.6% |
| Information Technology | 10.1% |
| Consumer Discretionary | 8.2% |
| Communication Services | 7.7% |
| Consumer Staples | 7.0% |
| Energy | 6.5% |
| Utilities | 5.2% |
| Real Estate | 3.9% |
| Materials | 3.2% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Johnson & Johnson | 3.0% |
| Alphabet, Inc., "A" | 2.6% |
| Amazon.com, Inc. | 2.4% |
| Wells Fargo & Co. | 2.3% |
| Citigroup, Inc. | 2.0% |
| Meta Platforms, Inc., "A" | 1.8% |
| Caterpillar, Inc. | 1.8% |
| Berkshire Hathaway, Inc., "B" | 1.7% |
| JPMorgan Chase & Co. | 1.7% |
| Medtronic PLC | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRUR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Value Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-BRULX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Value Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R3 | $37 | 0.71% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 314712597 | Portfolio Turnover Rate (%): | 28 |
| Total Number of Holdings: | 125 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.6% |
| Money Market Funds | 0.4% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.3% |
| Industrials | 12.9% |
| Health Care | 12.6% |
| Information Technology | 10.1% |
| Consumer Discretionary | 8.2% |
| Communication Services | 7.7% |
| Consumer Staples | 7.0% |
| Energy | 6.5% |
| Utilities | 5.2% |
| Real Estate | 3.9% |
| Materials | 3.2% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Johnson & Johnson | 3.0% |
| Alphabet, Inc., "A" | 2.6% |
| Amazon.com, Inc. | 2.4% |
| Wells Fargo & Co. | 2.3% |
| Citigroup, Inc. | 2.0% |
| Meta Platforms, Inc., "A" | 1.8% |
| Caterpillar, Inc. | 1.8% |
| Berkshire Hathaway, Inc., "B" | 1.7% |
| JPMorgan Chase & Co. | 1.7% |
| Medtronic PLC | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRUR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Value Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

#### Class R4-BRUMX
Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Value Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R4 | $24 | 0.46% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 314712597 | Portfolio Turnover Rate (%): | 28.0 |
| Total Number of Holdings: | 125 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

**Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.6% |
| Money Market Funds | 0.4% |

---

**Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.3% |
| Industrials | 12.9% |
| Health Care | 12.6% |
| Information Technology | 10.1% |
| Consumer Discretionary | 8.2% |
| Communication Services | 7.7% |
| Consumer Staples | 7.0% |
| Energy | 6.5% |
| Utilities | 5.2% |
| Real Estate | 3.9% |
| Materials | 3.2% |

---

**Top ten holdings**

---

| | |
|:---|:---|
| Johnson & Johnson | 3.0% |
| Alphabet, Inc., "A" | 2.6% |
| Amazon.com, Inc. | 2.4% |
| Wells Fargo & Co. | 2.3% |
| Citigroup, Inc. | 2.0% |
| Meta Platforms, Inc., "A" | 1.8% |
| Caterpillar, Inc. | 1.8% |
| Berkshire Hathaway, Inc., "B" | 1.7% |
| JPMorgan Chase & Co. | 1.7% |
| Medtronic PLC | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRUR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Value Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-BRUNX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Value Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R6 | $21 | 0.39% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 314712597 | Portfolio Turnover Rate (%): | 28 |
| Total Number of Holdings: | 125 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.6% |
| Money Market Funds | 0.4% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.3% |
| Industrials | 12.9% |
| Health Care | 12.6% |
| Information Technology | 10.1% |
| Consumer Discretionary | 8.2% |
| Communication Services | 7.7% |
| Consumer Staples | 7.0% |
| Energy | 6.5% |
| Utilities | 5.2% |
| Real Estate | 3.9% |
| Materials | 3.2% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Johnson & Johnson | 3.0% |
| Alphabet, Inc., "A" | 2.6% |
| Amazon.com, Inc. | 2.4% |
| Wells Fargo & Co. | 2.3% |
| Citigroup, Inc. | 2.0% |
| Meta Platforms, Inc., "A" | 1.8% |
| Caterpillar, Inc. | 1.8% |
| Berkshire Hathaway, Inc., "B" | 1.7% |
| JPMorgan Chase & Co. | 1.7% |
| Medtronic PLC | 1.6% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRUR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Growth Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-BRWAX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Growth Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| A | $38 | 0.70% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 518075418 | Portfolio Turnover Rate (%): | 31 |
| Total Number of Holdings: | 70 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.8% |
| Money Market Funds | 1.2% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Information Technology | 51.3% |
| Communication Services | 12.8% |
| Consumer Discretionary | 11.8% |
| Health Care | 7.6% |
| Financials | 6.7% |
| Industrials | 5.4% |
| Consumer Staples | 1.4% |
| Utilities | 1.2% |
| Energy | 0.3% |
| Real Estate | 0.3% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Apple, Inc. | 10.9% |
| Microsoft Corp. | 10.2% |
| Broadcom, Inc. | 5.1% |
| Amazon.com, Inc. | 4.7% |
| Meta Platforms, Inc., "A" | 4.3% |
| Alphabet, Inc., "A" | 2.9% |
| Tesla, Inc. | 2.7% |
| Alphabet, Inc., "C" | 2.6% |
| Lam Research Corp. | 2.1% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRWA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Growth Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-BRWBX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Growth Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| B | $80 | 1.46% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 518075418 | Portfolio Turnover Rate (%): | 31 |
| Total Number of Holdings: | 70 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.8% |
| Money Market Funds | 1.2% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Information Technology | 51.3% |
| Communication Services | 12.8% |
| Consumer Discretionary | 11.8% |
| Health Care | 7.6% |
| Financials | 6.7% |
| Industrials | 5.4% |
| Consumer Staples | 1.4% |
| Utilities | 1.2% |
| Energy | 0.3% |
| Real Estate | 0.3% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Apple, Inc. | 10.9% |
| Microsoft Corp. | 10.2% |
| Broadcom, Inc. | 5.1% |
| Amazon.com, Inc. | 4.7% |
| Meta Platforms, Inc., "A" | 4.3% |
| Alphabet, Inc., "A" | 2.9% |
| Tesla, Inc. | 2.7% |
| Alphabet, Inc., "C" | 2.6% |
| Lam Research Corp. | 2.1% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRWB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Growth Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-BRWCX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Growth Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| C | $79 | 1.45% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 518075418 | Portfolio Turnover Rate (%): | 31 |
| Total Number of Holdings: | 70 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.8% |
| Money Market Funds | 1.2% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Information Technology | 51.3% |
| Communication Services | 12.8% |
| Consumer Discretionary | 11.8% |
| Health Care | 7.6% |
| Financials | 6.7% |
| Industrials | 5.4% |
| Consumer Staples | 1.4% |
| Utilities | 1.2% |
| Energy | 0.3% |
| Real Estate | 0.3% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Apple, Inc. | 10.9% |
| Microsoft Corp. | 10.2% |
| Broadcom, Inc. | 5.1% |
| Amazon.com, Inc. | 4.7% |
| Meta Platforms, Inc., "A" | 4.3% |
| Alphabet, Inc., "A" | 2.9% |
| Tesla, Inc. | 2.7% |
| Alphabet, Inc., "C" | 2.6% |
| Lam Research Corp. | 2.1% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRWC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Growth Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-BRWJX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Growth Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| I | $25 | 0.45% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 518075418 | Portfolio Turnover Rate (%): | 31 |
| Total Number of Holdings: | 70 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.8% |
| Money Market Funds | 1.2% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Information Technology | 51.3% |
| Communication Services | 12.8% |
| Consumer Discretionary | 11.8% |
| Health Care | 7.6% |
| Financials | 6.7% |
| Industrials | 5.4% |
| Consumer Staples | 1.4% |
| Utilities | 1.2% |
| Energy | 0.3% |
| Real Estate | 0.3% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Apple, Inc. | 10.9% |
| Microsoft Corp. | 10.2% |
| Broadcom, Inc. | 5.1% |
| Amazon.com, Inc. | 4.7% |
| Meta Platforms, Inc., "A" | 4.3% |
| Alphabet, Inc., "A" | 2.9% |
| Tesla, Inc. | 2.7% |
| Alphabet, Inc., "C" | 2.6% |
| Lam Research Corp. | 2.1% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRWI-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Growth Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-BRWRX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Growth Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R1 | $80 | 1.46% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 518075418 | Portfolio Turnover Rate (%): | 31 |
| Total Number of Holdings: | 70 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.8% |
| Money Market Funds | 1.2% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Information Technology | 51.3% |
| Communication Services | 12.8% |
| Consumer Discretionary | 11.8% |
| Health Care | 7.6% |
| Financials | 6.7% |
| Industrials | 5.4% |
| Consumer Staples | 1.4% |
| Utilities | 1.2% |
| Energy | 0.3% |
| Real Estate | 0.3% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Apple, Inc. | 10.9% |
| Microsoft Corp. | 10.2% |
| Broadcom, Inc. | 5.1% |
| Amazon.com, Inc. | 4.7% |
| Meta Platforms, Inc., "A" | 4.3% |
| Alphabet, Inc., "A" | 2.9% |
| Tesla, Inc. | 2.7% |
| Alphabet, Inc., "C" | 2.6% |
| Lam Research Corp. | 2.1% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRWR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Growth Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-BRWSX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Growth Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R2 | $52 | 0.95% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 518075418 | Portfolio Turnover Rate (%): | 31 |
| Total Number of Holdings: | 70 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.8% |
| Money Market Funds | 1.2% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Information Technology | 51.3% |
| Communication Services | 12.8% |
| Consumer Discretionary | 11.8% |
| Health Care | 7.6% |
| Financials | 6.7% |
| Industrials | 5.4% |
| Consumer Staples | 1.4% |
| Utilities | 1.2% |
| Energy | 0.3% |
| Real Estate | 0.3% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Apple, Inc. | 10.9% |
| Microsoft Corp. | 10.2% |
| Broadcom, Inc. | 5.1% |
| Amazon.com, Inc. | 4.7% |
| Meta Platforms, Inc., "A" | 4.3% |
| Alphabet, Inc., "A" | 2.9% |
| Tesla, Inc. | 2.7% |
| Alphabet, Inc., "C" | 2.6% |
| Lam Research Corp. | 2.1% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRWR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Growth Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-BRWTX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Growth Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R3 | $39 | 0.71% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 518075418 | Portfolio Turnover Rate (%): | 31 |
| Total Number of Holdings: | 70 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.8% |
| Money Market Funds | 1.2% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Information Technology | 51.3% |
| Communication Services | 12.8% |
| Consumer Discretionary | 11.8% |
| Health Care | 7.6% |
| Financials | 6.7% |
| Industrials | 5.4% |
| Consumer Staples | 1.4% |
| Utilities | 1.2% |
| Energy | 0.3% |
| Real Estate | 0.3% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Apple, Inc. | 10.9% |
| Microsoft Corp. | 10.2% |
| Broadcom, Inc. | 5.1% |
| Amazon.com, Inc. | 4.7% |
| Meta Platforms, Inc., "A" | 4.3% |
| Alphabet, Inc., "A" | 2.9% |
| Tesla, Inc. | 2.7% |
| Alphabet, Inc., "C" | 2.6% |
| Lam Research Corp. | 2.1% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRWR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Growth Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-BRWUX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Growth Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R4 | $25 | 0.45% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 518075418 | Portfolio Turnover Rate (%): | 31 |
| Total Number of Holdings: | 70 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.8% |
| Money Market Funds | 1.2% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Information Technology | 51.3% |
| Communication Services | 12.8% |
| Consumer Discretionary | 11.8% |
| Health Care | 7.6% |
| Financials | 6.7% |
| Industrials | 5.4% |
| Consumer Staples | 1.4% |
| Utilities | 1.2% |
| Energy | 0.3% |
| Real Estate | 0.3% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Apple, Inc. | 10.9% |
| Microsoft Corp. | 10.2% |
| Broadcom, Inc. | 5.1% |
| Amazon.com, Inc. | 4.7% |
| Meta Platforms, Inc., "A" | 4.3% |
| Alphabet, Inc., "A" | 2.9% |
| Tesla, Inc. | 2.7% |
| Alphabet, Inc., "C" | 2.6% |
| Lam Research Corp. | 2.1% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRWR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Blended Research<sup>®</sup>

Growth Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-BRWVX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Blended Research Growth Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R6 | $21 | 0.39% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 518075418 | Portfolio Turnover Rate (%): | 31 |
| Total Number of Holdings: | 70 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.8% |
| Money Market Funds | 1.2% |

---

 **Equity sectors**

---

| | |
|:---|:---|
| Information Technology | 51.3% |
| Communication Services | 12.8% |
| Consumer Discretionary | 11.8% |
| Health Care | 7.6% |
| Financials | 6.7% |
| Industrials | 5.4% |
| Consumer Staples | 1.4% |
| Utilities | 1.2% |
| Energy | 0.3% |
| Real Estate | 0.3% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.3% |
| Apple, Inc. | 10.9% |
| Microsoft Corp. | 10.2% |
| Broadcom, Inc. | 5.1% |
| Amazon.com, Inc. | 4.7% |
| Meta Platforms, Inc., "A" | 4.3% |
| Alphabet, Inc., "A" | 2.9% |
| Tesla, Inc. | 2.7% |
| Alphabet, Inc., "C" | 2.6% |
| Lam Research Corp. | 2.1% |

---

MFS uses the Global Industry Classification Standard (GICS<sup>®</sup>) for sector/industry reporting. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

BRWR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Emerging Markets

Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-MEMAX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Emerging Markets Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| A | $72 | 1.31% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 9273498965 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 93 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.1% |
| Money Market Funds | 1.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 9.6% |
| Tencent Holdings Ltd. | 6.5% |
| Samsung Electronics Co. Ltd. | 4.4% |
| Alibaba Group Holding Ltd. | 3.3% |
| HDFC Bank Ltd. | 2.6% |
| China Construction Bank Corp. | 2.0% |
| ASE Technology Holding Co. Ltd | 1.9% |
| Hon Hai Precision Industry Co. Ltd. | 1.8% |
| Kweichow Moutai Co. Ltd., "A" | 1.8% |
| Reliance Industries Ltd. | 1.6% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| China | 27.7% |
| Taiwan | 16.5% |
| India | 16.3% |
| South Korea | 9.6% |
| Brazil | 6.1% |
| Indonesia | 3.6% |
| Mexico | 2.7% |
| Hong Kong | 2.6% |
| United States | 2.4% |
| Other Countries | 12.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FEMA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Emerging Markets

Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-MEMBX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Emerging Markets Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| B | $113 | 2.06% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 9273498965 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 93 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.1% |
| Money Market Funds | 1.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 9.6% |
| Tencent Holdings Ltd. | 6.5% |
| Samsung Electronics Co. Ltd. | 4.4% |
| Alibaba Group Holding Ltd. | 3.3% |
| HDFC Bank Ltd. | 2.6% |
| China Construction Bank Corp. | 2.0% |
| ASE Technology Holding Co. Ltd | 1.9% |
| Hon Hai Precision Industry Co. Ltd. | 1.8% |
| Kweichow Moutai Co. Ltd., "A" | 1.8% |
| Reliance Industries Ltd. | 1.6% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| China | 27.7% |
| Taiwan | 16.5% |
| India | 16.3% |
| South Korea | 9.6% |
| Brazil | 6.1% |
| Indonesia | 3.6% |
| Mexico | 2.7% |
| Hong Kong | 2.6% |
| United States | 2.4% |
| Other Countries | 12.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FEMB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Emerging Markets

Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-MEMCX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Emerging Markets Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| C | $112 | 2.05% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 9273498965 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 93 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.1% |
| Money Market Funds | 1.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 9.6% |
| Tencent Holdings Ltd. | 6.5% |
| Samsung Electronics Co. Ltd. | 4.4% |
| Alibaba Group Holding Ltd. | 3.3% |
| HDFC Bank Ltd. | 2.6% |
| China Construction Bank Corp. | 2.0% |
| ASE Technology Holding Co. Ltd | 1.9% |
| Hon Hai Precision Industry Co. Ltd. | 1.8% |
| Kweichow Moutai Co. Ltd., "A" | 1.8% |
| Reliance Industries Ltd. | 1.6% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| China | 27.7% |
| Taiwan | 16.5% |
| India | 16.3% |
| South Korea | 9.6% |
| Brazil | 6.1% |
| Indonesia | 3.6% |
| Mexico | 2.7% |
| Hong Kong | 2.6% |
| United States | 2.4% |
| Other Countries | 12.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FEMC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Emerging Markets

Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-MEMIX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Emerging Markets Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| I | $58 | 1.06% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 9273498965 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 93 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.1% |
| Money Market Funds | 1.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 9.6% |
| Tencent Holdings Ltd. | 6.5% |
| Samsung Electronics Co. Ltd. | 4.4% |
| Alibaba Group Holding Ltd. | 3.3% |
| HDFC Bank Ltd. | 2.6% |
| China Construction Bank Corp. | 2.0% |
| ASE Technology Holding Co. Ltd | 1.9% |
| Hon Hai Precision Industry Co. Ltd. | 1.8% |
| Kweichow Moutai Co. Ltd., "A" | 1.8% |
| Reliance Industries Ltd. | 1.6% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| China | 27.7% |
| Taiwan | 16.5% |
| India | 16.3% |
| South Korea | 9.6% |
| Brazil | 6.1% |
| Indonesia | 3.6% |
| Mexico | 2.7% |
| Hong Kong | 2.6% |
| United States | 2.4% |
| Other Countries | 12.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FEMI-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Emerging Markets

Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-MEMRX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Emerging Markets Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R1 | $113 | 2.06% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 9273498965 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 93 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.1% |
| Money Market Funds | 1.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 9.6% |
| Tencent Holdings Ltd. | 6.5% |
| Samsung Electronics Co. Ltd. | 4.4% |
| Alibaba Group Holding Ltd. | 3.3% |
| HDFC Bank Ltd. | 2.6% |
| China Construction Bank Corp. | 2.0% |
| ASE Technology Holding Co. Ltd | 1.9% |
| Hon Hai Precision Industry Co. Ltd. | 1.8% |
| Kweichow Moutai Co. Ltd., "A" | 1.8% |
| Reliance Industries Ltd. | 1.6% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| China | 27.7% |
| Taiwan | 16.5% |
| India | 16.3% |
| South Korea | 9.6% |
| Brazil | 6.1% |
| Indonesia | 3.6% |
| Mexico | 2.7% |
| Hong Kong | 2.6% |
| United States | 2.4% |
| Other Countries | 12.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FEMR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Emerging Markets

Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-MEMFX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Emerging Markets Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R2 | $86 | 1.56% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 9273498965 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 93 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.1% |
| Money Market Funds | 1.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 9.6% |
| Tencent Holdings Ltd. | 6.5% |
| Samsung Electronics Co. Ltd. | 4.4% |
| Alibaba Group Holding Ltd. | 3.3% |
| HDFC Bank Ltd. | 2.6% |
| China Construction Bank Corp. | 2.0% |
| ASE Technology Holding Co. Ltd | 1.9% |
| Hon Hai Precision Industry Co. Ltd. | 1.8% |
| Kweichow Moutai Co. Ltd., "A" | 1.8% |
| Reliance Industries Ltd. | 1.6% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| China | 27.7% |
| Taiwan | 16.5% |
| India | 16.3% |
| South Korea | 9.6% |
| Brazil | 6.1% |
| Indonesia | 3.6% |
| Mexico | 2.7% |
| Hong Kong | 2.6% |
| United States | 2.4% |
| Other Countries | 12.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FEMR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Emerging Markets

Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-MEMGX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Emerging Markets Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R3 | $72 | 1.31% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 9273498965 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 93 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.1% |
| Money Market Funds | 1.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 9.6% |
| Tencent Holdings Ltd. | 6.5% |
| Samsung Electronics Co. Ltd. | 4.4% |
| Alibaba Group Holding Ltd. | 3.3% |
| HDFC Bank Ltd. | 2.6% |
| China Construction Bank Corp. | 2.0% |
| ASE Technology Holding Co. Ltd | 1.9% |
| Hon Hai Precision Industry Co. Ltd. | 1.8% |
| Kweichow Moutai Co. Ltd., "A" | 1.8% |
| Reliance Industries Ltd. | 1.6% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| China | 27.7% |
| Taiwan | 16.5% |
| India | 16.3% |
| South Korea | 9.6% |
| Brazil | 6.1% |
| Indonesia | 3.6% |
| Mexico | 2.7% |
| Hong Kong | 2.6% |
| United States | 2.4% |
| Other Countries | 12.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FEMR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Emerging Markets

Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-MEMHX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Emerging Markets Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R4 | $58 | 1.06% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 9273498965 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 93 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.1% |
| Money Market Funds | 1.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 9.6% |
| Tencent Holdings Ltd. | 6.5% |
| Samsung Electronics Co. Ltd. | 4.4% |
| Alibaba Group Holding Ltd. | 3.3% |
| HDFC Bank Ltd. | 2.6% |
| China Construction Bank Corp. | 2.0% |
| ASE Technology Holding Co. Ltd | 1.9% |
| Hon Hai Precision Industry Co. Ltd. | 1.8% |
| Kweichow Moutai Co. Ltd., "A" | 1.8% |
| Reliance Industries Ltd. | 1.6% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| China | 27.7% |
| Taiwan | 16.5% |
| India | 16.3% |
| South Korea | 9.6% |
| Brazil | 6.1% |
| Indonesia | 3.6% |
| Mexico | 2.7% |
| Hong Kong | 2.6% |
| United States | 2.4% |
| Other Countries | 12.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FEMR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Emerging Markets

Equity Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-MEMJX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Emerging Markets Equity Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R6 | $51 | 0.92% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 9273498965 | Portfolio Turnover Rate (%): | 24 |
| Total Number of Holdings: | 93 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 98.1% |
| Money Market Funds | 1.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 9.6% |
| Tencent Holdings Ltd. | 6.5% |
| Samsung Electronics Co. Ltd. | 4.4% |
| Alibaba Group Holding Ltd. | 3.3% |
| HDFC Bank Ltd. | 2.6% |
| China Construction Bank Corp. | 2.0% |
| ASE Technology Holding Co. Ltd | 1.9% |
| Hon Hai Precision Industry Co. Ltd. | 1.8% |
| Kweichow Moutai Co. Ltd., "A" | 1.8% |
| Reliance Industries Ltd. | 1.6% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| China | 27.7% |
| Taiwan | 16.5% |
| India | 16.3% |
| South Korea | 9.6% |
| Brazil | 6.1% |
| Indonesia | 3.6% |
| Mexico | 2.7% |
| Hong Kong | 2.6% |
| United States | 2.4% |
| Other Countries | 12.5% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FEMR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Growth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-MGRAX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Growth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| A | $53 | 1.03% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 22002494157 | Portfolio Turnover Rate (%):<sub>7</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 97.1% |
| Money Market Funds | 2.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 4.6% |
| Schneider Electric SE | 3.5% |
| Roche Holding AG | 3.1% |
| SAP SE | 3.0% |
| Nestle S.A. | 3.0% |
| AIA Group Ltd. | 2.7% |
| AstraZeneca PLC | 2.7% |
| Hitachi Ltd. | 2.5% |
| Tencent Holdings Ltd. | 2.4% |
| Agnico Eagle Mines Ltd. | 2.3% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 12.2% |
| United Kingdom | 11.3% |
| Japan | 9.9% |
| Germany | 9.1% |
| Canada | 7.6% |
| Switzerland | 7.1% |
| United States | 6.3% |
| Taiwan | 5.8% |
| China | 4.3% |
| Other Countries | 26.4% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGFA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Growth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-MGRBX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Growth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| B | $92 | 1.78% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 22002494157 | Portfolio Turnover Rate (%):<sub>7</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 97.1% |
| Money Market Funds | 2.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 4.6% |
| Schneider Electric SE | 3.5% |
| Roche Holding AG | 3.1% |
| SAP SE | 3.0% |
| Nestle S.A. | 3.0% |
| AIA Group Ltd. | 2.7% |
| AstraZeneca PLC | 2.7% |
| Hitachi Ltd. | 2.5% |
| Tencent Holdings Ltd. | 2.4% |
| Agnico Eagle Mines Ltd. | 2.3% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 12.2% |
| United Kingdom | 11.3% |
| Japan | 9.9% |
| Germany | 9.1% |
| Canada | 7.6% |
| Switzerland | 7.1% |
| United States | 6.3% |
| Taiwan | 5.8% |
| China | 4.3% |
| Other Countries | 26.4% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGFB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Growth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-MGRCX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Growth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| C | $92 | 1.78% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 22002494157 | Portfolio Turnover Rate (%):<sub>7</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 97.1% |
| Money Market Funds | 2.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 4.6% |
| Schneider Electric SE | 3.5% |
| Roche Holding AG | 3.1% |
| SAP SE | 3.0% |
| Nestle S.A. | 3.0% |
| AIA Group Ltd. | 2.7% |
| AstraZeneca PLC | 2.7% |
| Hitachi Ltd. | 2.5% |
| Tencent Holdings Ltd. | 2.4% |
| Agnico Eagle Mines Ltd. | 2.3% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 12.2% |
| United Kingdom | 11.3% |
| Japan | 9.9% |
| Germany | 9.1% |
| Canada | 7.6% |
| Switzerland | 7.1% |
| United States | 6.3% |
| Taiwan | 5.8% |
| China | 4.3% |
| Other Countries | 26.4% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGFC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Growth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-MQGIX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Growth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| I | $40 | 0.78% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 22002494157 | Portfolio Turnover Rate (%):<sub>7</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 97.1% |
| Money Market Funds | 2.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 4.6% |
| Schneider Electric SE | 3.5% |
| Roche Holding AG | 3.1% |
| SAP SE | 3.0% |
| Nestle S.A. | 3.0% |
| AIA Group Ltd. | 2.7% |
| AstraZeneca PLC | 2.7% |
| Hitachi Ltd. | 2.5% |
| Tencent Holdings Ltd. | 2.4% |
| Agnico Eagle Mines Ltd. | 2.3% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 12.2% |
| United Kingdom | 11.3% |
| Japan | 9.9% |
| Germany | 9.1% |
| Canada | 7.6% |
| Switzerland | 7.1% |
| United States | 6.3% |
| Taiwan | 5.8% |
| China | 4.3% |
| Other Countries | 26.4% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGFI-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Growth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-MGRRX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Growth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R1 | $92 | 1.78% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 22002494157 | Portfolio Turnover Rate (%):<sub>7</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 97.1% |
| Money Market Funds | 2.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 4.6% |
| Schneider Electric SE | 3.5% |
| Roche Holding AG | 3.1% |
| SAP SE | 3.0% |
| Nestle S.A. | 3.0% |
| AIA Group Ltd. | 2.7% |
| AstraZeneca PLC | 2.7% |
| Hitachi Ltd. | 2.5% |
| Tencent Holdings Ltd. | 2.4% |
| Agnico Eagle Mines Ltd. | 2.3% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 12.2% |
| United Kingdom | 11.3% |
| Japan | 9.9% |
| Germany | 9.1% |
| Canada | 7.6% |
| Switzerland | 7.1% |
| United States | 6.3% |
| Taiwan | 5.8% |
| China | 4.3% |
| Other Countries | 26.4% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGFR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Growth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-MGRQX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Growth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R2 | $66 | 1.28% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 22002494157 | Portfolio Turnover Rate (%):<sub>7</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 97.1% |
| Money Market Funds | 2.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 4.6% |
| Schneider Electric SE | 3.5% |
| Roche Holding AG | 3.1% |
| SAP SE | 3.0% |
| Nestle S.A. | 3.0% |
| AIA Group Ltd. | 2.7% |
| AstraZeneca PLC | 2.7% |
| Hitachi Ltd. | 2.5% |
| Tencent Holdings Ltd. | 2.4% |
| Agnico Eagle Mines Ltd. | 2.3% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 12.2% |
| United Kingdom | 11.3% |
| Japan | 9.9% |
| Germany | 9.1% |
| Canada | 7.6% |
| Switzerland | 7.1% |
| United States | 6.3% |
| Taiwan | 5.8% |
| China | 4.3% |
| Other Countries | 26.4% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGFR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Growth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-MGRTX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Growth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R3 | $53 | 1.03% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 22002494157 | Portfolio Turnover Rate (%):<sub>7</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 97.1% |
| Money Market Funds | 2.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 4.6% |
| Schneider Electric SE | 3.5% |
| Roche Holding AG | 3.1% |
| SAP SE | 3.0% |
| Nestle S.A. | 3.0% |
| AIA Group Ltd. | 2.7% |
| AstraZeneca PLC | 2.7% |
| Hitachi Ltd. | 2.5% |
| Tencent Holdings Ltd. | 2.4% |
| Agnico Eagle Mines Ltd. | 2.3% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 12.2% |
| United Kingdom | 11.3% |
| Japan | 9.9% |
| Germany | 9.1% |
| Canada | 7.6% |
| Switzerland | 7.1% |
| United States | 6.3% |
| Taiwan | 5.8% |
| China | 4.3% |
| Other Countries | 26.4% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGFR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Growth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-MGRVX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Growth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R4 | $40 | 0.78% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 22002494157 | Portfolio Turnover Rate (%):<sub>7</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 97.1% |
| Money Market Funds | 2.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 4.6% |
| Schneider Electric SE | 3.5% |
| Roche Holding AG | 3.1% |
| SAP SE | 3.0% |
| Nestle S.A. | 3.0% |
| AIA Group Ltd. | 2.7% |
| AstraZeneca PLC | 2.7% |
| Hitachi Ltd. | 2.5% |
| Tencent Holdings Ltd. | 2.4% |
| Agnico Eagle Mines Ltd. | 2.3% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 12.2% |
| United Kingdom | 11.3% |
| Japan | 9.9% |
| Germany | 9.1% |
| Canada | 7.6% |
| Switzerland | 7.1% |
| United States | 6.3% |
| Taiwan | 5.8% |
| China | 4.3% |
| Other Countries | 26.4% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGFR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Growth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-MGRDX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Growth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R6 | $35 | 0.67% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 22002494157 | Portfolio Turnover Rate (%):<sub>7</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 97.1% |
| Money Market Funds | 2.9% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co. Ltd. | 4.6% |
| Schneider Electric SE | 3.5% |
| Roche Holding AG | 3.1% |
| SAP SE | 3.0% |
| Nestle S.A. | 3.0% |
| AIA Group Ltd. | 2.7% |
| AstraZeneca PLC | 2.7% |
| Hitachi Ltd. | 2.5% |
| Tencent Holdings Ltd. | 2.4% |
| Agnico Eagle Mines Ltd. | 2.3% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 12.2% |
| United Kingdom | 11.3% |
| Japan | 9.9% |
| Germany | 9.1% |
| Canada | 7.6% |
| Switzerland | 7.1% |
| United States | 6.3% |
| Taiwan | 5.8% |
| China | 4.3% |
| Other Countries | 26.4% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGFR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Intrinsic Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-MGIAX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Intrinsic Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

 **This report describes planned changes to the Fund since June 1, 2025 .**

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| A | $53 | 0.99% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 24437352014 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 96.5% |
| Money Market Funds | 3.5% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Franco-Nevada Corp. | 3.6% |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 3.3% |
| NatWest Group PLC | 2.9% |
| Legrand S.A. | 2.7% |
| Schneider Electric SE | 2.7% |
| TotalEnergies SE | 2.6% |
| Resona Holdings, Inc. | 2.4% |
| CaixaBank S.A. | 2.3% |
| Deutsche Boerse AG | 2.3% |
| AIB Group PLC | 2.2% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 15.8% |
| United Kingdom | 15.6% |
| Japan | 12.0% |
| United States | 10.3% |
| Switzerland | 8.9% |
| Canada | 7.2% |
| Germany | 7.1% |
| Ireland | 5.6% |
| Spain | 3.6% |
| Other Countries | 13.9% |

---

#### MATERIAL FUND CHANGES
This is a summary of certain changes to the fund since June 1, 2025. For more complete information, you may review the fund's prospectus, as supplemented from time to time, at funds.mfs.com or upon request at 1-800-225-2606.

Effective April 30, 2026, the MFS International Intrinsic Value Fund will be renamed the MFS International Intrinsic Equity Fund. In connection with the name change, the fund will adopt a policy to invest at least 80% of its assets in equity securities.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGIA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Intrinsic Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-MGIBX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Intrinsic Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

**This report describes planned changes to the Fund since June 1, 2025 .**

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| B | $92 | 1.73% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 24437352014 | Portfolio Turnover Rate (%): | 9.0 |
| Total Number of Holdings: | 88 |  |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

**Portfolio structure**

---

| | |
|:---|:---|
| Equities | 96.5% |
| Money Market Funds | 3.5% |

---

**Top ten holdings**

---

| | |
|:---|:---|
| Franco-Nevada Corp. | 3.6% |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 3.3% |
| NatWest Group PLC | 2.9% |
| Legrand S.A. | 2.7% |
| Schneider Electric SE | 2.7% |
| TotalEnergies SE | 2.6% |
| Resona Holdings, Inc. | 2.4% |
| CaixaBank S.A. | 2.3% |
| Deutsche Boerse AG | 2.3% |
| AIB Group PLC | 2.2% |

---

**Issuer country weightings**

---

| | |
|:---|:---|
| France | 15.8% |
| United Kingdom | 15.6% |
| Japan | 12.0% |
| United States | 10.3% |
| Switzerland | 8.9% |
| Canada | 7.2% |
| Germany | 7.1% |
| Ireland | 5.6% |
| Spain | 3.6% |
| Other Countries | 13.9% |

---

#### MATERIAL FUND CHANGES
This is a summary of certain changes to the fund since June 1, 2025. For more complete information, you may review the fund's prospectus, as supplemented from time to time, at funds.mfs.com or upon request at 1-800-225-2606.

Effective April 30, 2026, the MFS International Intrinsic Value Fund will be renamed the MFS International Intrinsic Equity Fund. In connection with the name change, the fund will adopt a policy to invest at least 80% of its assets in equity securities.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGIB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Intrinsic Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-MGICX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Intrinsic Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

 **This report describes planned changes to the Fund since June 1, 2025 .**

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| C | $92 | 1.74% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 24437352014 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 96.5% |
| Money Market Funds | 3.5% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Franco-Nevada Corp. | 3.6% |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 3.3% |
| NatWest Group PLC | 2.9% |
| Legrand S.A. | 2.7% |
| Schneider Electric SE | 2.7% |
| TotalEnergies SE | 2.6% |
| Resona Holdings, Inc. | 2.4% |
| CaixaBank S.A. | 2.3% |
| Deutsche Boerse AG | 2.3% |
| AIB Group PLC | 2.2% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 15.8% |
| United Kingdom | 15.6% |
| Japan | 12.0% |
| United States | 10.3% |
| Switzerland | 8.9% |
| Canada | 7.2% |
| Germany | 7.1% |
| Ireland | 5.6% |
| Spain | 3.6% |
| Other Countries | 13.9% |

---

#### MATERIAL FUND CHANGES
This is a summary of certain changes to the fund since June 1, 2025. For more complete information, you may review the fund's prospectus, as supplemented from time to time, at funds.mfs.com or upon request at 1-800-225-2606.

Effective April 30, 2026, the MFS International Intrinsic Value Fund will be renamed the MFS International Intrinsic Equity Fund. In connection with the name change, the fund will adopt a policy to invest at least 80% of its assets in equity securities.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGIC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Intrinsic Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-MINIX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Intrinsic Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

 **This report describes planned changes to the Fund since June 1, 2025 .**

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| I | $39 | 0.74% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 24437352014 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 96.5% |
| Money Market Funds | 3.5% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Franco-Nevada Corp. | 3.6% |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 3.3% |
| NatWest Group PLC | 2.9% |
| Legrand S.A. | 2.7% |
| Schneider Electric SE | 2.7% |
| TotalEnergies SE | 2.6% |
| Resona Holdings, Inc. | 2.4% |
| CaixaBank S.A. | 2.3% |
| Deutsche Boerse AG | 2.3% |
| AIB Group PLC | 2.2% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 15.8% |
| United Kingdom | 15.6% |
| Japan | 12.0% |
| United States | 10.3% |
| Switzerland | 8.9% |
| Canada | 7.2% |
| Germany | 7.1% |
| Ireland | 5.6% |
| Spain | 3.6% |
| Other Countries | 13.9% |

---

#### MATERIAL FUND CHANGES
This is a summary of certain changes to the fund since June 1, 2025. For more complete information, you may review the fund's prospectus, as supplemented from time to time, at funds.mfs.com or upon request at 1-800-225-2606.

Effective April 30, 2026, the MFS International Intrinsic Value Fund will be renamed the MFS International Intrinsic Equity Fund. In connection with the name change, the fund will adopt a policy to invest at least 80% of its assets in equity securities.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGII-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Intrinsic Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-MINRX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Intrinsic Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

 **This report describes planned changes to the Fund since June 1, 2025 .**

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R1 | $92 | 1.74% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 24437352014 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 96.5% |
| Money Market Funds | 3.5% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Franco-Nevada Corp. | 3.6% |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 3.3% |
| NatWest Group PLC | 2.9% |
| Legrand S.A. | 2.7% |
| Schneider Electric SE | 2.7% |
| TotalEnergies SE | 2.6% |
| Resona Holdings, Inc. | 2.4% |
| CaixaBank S.A. | 2.3% |
| Deutsche Boerse AG | 2.3% |
| AIB Group PLC | 2.2% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 15.8% |
| United Kingdom | 15.6% |
| Japan | 12.0% |
| United States | 10.3% |
| Switzerland | 8.9% |
| Canada | 7.2% |
| Germany | 7.1% |
| Ireland | 5.6% |
| Spain | 3.6% |
| Other Countries | 13.9% |

---

#### MATERIAL FUND CHANGES
This is a summary of certain changes to the fund since June 1, 2025. For more complete information, you may review the fund's prospectus, as supplemented from time to time, at funds.mfs.com or upon request at 1-800-225-2606.

Effective April 30, 2026, the MFS International Intrinsic Value Fund will be renamed the MFS International Intrinsic Equity Fund. In connection with the name change, the fund will adopt a policy to invest at least 80% of its assets in equity securities.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGIR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Intrinsic Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-MINFX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Intrinsic Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

 **This report describes planned changes to the Fund since June 1, 2025 .**

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R2 | $66 | 1.24% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 24437352014 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 96.5% |
| Money Market Funds | 3.5% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Franco-Nevada Corp. | 3.6% |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 3.3% |
| NatWest Group PLC | 2.9% |
| Legrand S.A. | 2.7% |
| Schneider Electric SE | 2.7% |
| TotalEnergies SE | 2.6% |
| Resona Holdings, Inc. | 2.4% |
| CaixaBank S.A. | 2.3% |
| Deutsche Boerse AG | 2.3% |
| AIB Group PLC | 2.2% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 15.8% |
| United Kingdom | 15.6% |
| Japan | 12.0% |
| United States | 10.3% |
| Switzerland | 8.9% |
| Canada | 7.2% |
| Germany | 7.1% |
| Ireland | 5.6% |
| Spain | 3.6% |
| Other Countries | 13.9% |

---

#### MATERIAL FUND CHANGES
This is a summary of certain changes to the fund since June 1, 2025. For more complete information, you may review the fund's prospectus, as supplemented from time to time, at funds.mfs.com or upon request at 1-800-225-2606.

Effective April 30, 2026, the MFS International Intrinsic Value Fund will be renamed the MFS International Intrinsic Equity Fund. In connection with the name change, the fund will adopt a policy to invest at least 80% of its assets in equity securities.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGIR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Intrinsic Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-MINGX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Intrinsic Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

 **This report describes planned changes to the Fund since June 1, 2025 .**

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R3 | $53 | 0.99% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 24437352014 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 96.5% |
| Money Market Funds | 3.5% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Franco-Nevada Corp. | 3.6% |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 3.3% |
| NatWest Group PLC | 2.9% |
| Legrand S.A. | 2.7% |
| Schneider Electric SE | 2.7% |
| TotalEnergies SE | 2.6% |
| Resona Holdings, Inc. | 2.4% |
| CaixaBank S.A. | 2.3% |
| Deutsche Boerse AG | 2.3% |
| AIB Group PLC | 2.2% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 15.8% |
| United Kingdom | 15.6% |
| Japan | 12.0% |
| United States | 10.3% |
| Switzerland | 8.9% |
| Canada | 7.2% |
| Germany | 7.1% |
| Ireland | 5.6% |
| Spain | 3.6% |
| Other Countries | 13.9% |

---

#### MATERIAL FUND CHANGES
This is a summary of certain changes to the fund since June 1, 2025. For more complete information, you may review the fund's prospectus, as supplemented from time to time, at funds.mfs.com or upon request at 1-800-225-2606.

Effective April 30, 2026, the MFS International Intrinsic Value Fund will be renamed the MFS International Intrinsic Equity Fund. In connection with the name change, the fund will adopt a policy to invest at least 80% of its assets in equity securities.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGIR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Intrinsic Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-MINHX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Intrinsic Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

 **This report describes planned changes to the Fund since June 1, 2025 .**

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R4 | $39 | 0.74% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 24437352014 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 96.5% |
| Money Market Funds | 3.5% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Franco-Nevada Corp. | 3.6% |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 3.3% |
| NatWest Group PLC | 2.9% |
| Legrand S.A. | 2.7% |
| Schneider Electric SE | 2.7% |
| TotalEnergies SE | 2.6% |
| Resona Holdings, Inc. | 2.4% |
| CaixaBank S.A. | 2.3% |
| Deutsche Boerse AG | 2.3% |
| AIB Group PLC | 2.2% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 15.8% |
| United Kingdom | 15.6% |
| Japan | 12.0% |
| United States | 10.3% |
| Switzerland | 8.9% |
| Canada | 7.2% |
| Germany | 7.1% |
| Ireland | 5.6% |
| Spain | 3.6% |
| Other Countries | 13.9% |

---

#### MATERIAL FUND CHANGES
This is a summary of certain changes to the fund since June 1, 2025. For more complete information, you may review the fund's prospectus, as supplemented from time to time, at funds.mfs.com or upon request at 1-800-225-2606.

Effective April 30, 2026, the MFS International Intrinsic Value Fund will be renamed the MFS International Intrinsic Equity Fund. In connection with the name change, the fund will adopt a policy to invest at least 80% of its assets in equity securities.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGIR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Intrinsic Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-MINJX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Intrinsic Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

 **This report describes planned changes to the Fund since June 1, 2025 .**

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R6 | $34 | 0.64% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 24437352014 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 88 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 96.5% |
| Money Market Funds | 3.5% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| Franco-Nevada Corp. | 3.6% |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 3.3% |
| NatWest Group PLC | 2.9% |
| Legrand S.A. | 2.7% |
| Schneider Electric SE | 2.7% |
| TotalEnergies SE | 2.6% |
| Resona Holdings, Inc. | 2.4% |
| CaixaBank S.A. | 2.3% |
| Deutsche Boerse AG | 2.3% |
| AIB Group PLC | 2.2% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| France | 15.8% |
| United Kingdom | 15.6% |
| Japan | 12.0% |
| United States | 10.3% |
| Switzerland | 8.9% |
| Canada | 7.2% |
| Germany | 7.1% |
| Ireland | 5.6% |
| Spain | 3.6% |
| Other Countries | 13.9% |

---

#### MATERIAL FUND CHANGES
This is a summary of certain changes to the fund since June 1, 2025. For more complete information, you may review the fund's prospectus, as supplemented from time to time, at funds.mfs.com or upon request at 1-800-225-2606.

Effective April 30, 2026, the MFS International Intrinsic Value Fund will be renamed the MFS International Intrinsic Equity Fund. In connection with the name change, the fund will adopt a policy to invest at least 80% of its assets in equity securities.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

FGIR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International

Diversification<sup>SM</sup> Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-MDIDX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Diversification Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| A | $18 | 0.35% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 43801906811 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 7 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio target allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2221832.jpg)

 **Portfolio actual allocation**

![Port Comp - Portfolio Actual Allocation Chart](chartimages_2221836.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Research International Fund | 27.6% |
| MFS Emerging Markets Equity Fund | 17.2% |
| MFS International Intrinsic Value Fund | 15.2% |
| MFS International Large Cap Value Fund | 15.1% |
| MFS International Growth Fund | 14.9% |
| MFS International New Discovery Fund | 9.8% |
| MFS Institutional Money Market Portfolio | 0.2% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MDIA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International

Diversification<sup>SM</sup> Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-MDIFX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Diversification Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| B | $58 | 1.10% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 43801906811 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 7 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio target allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2221926.jpg)

 **Portfolio actual allocation**

![Port Comp - Portfolio Actual Allocation Chart](chartimages_2221930.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Research International Fund | 27.6% |
| MFS Emerging Markets Equity Fund | 17.2% |
| MFS International Intrinsic Value Fund | 15.2% |
| MFS International Large Cap Value Fund | 15.1% |
| MFS International Growth Fund | 14.9% |
| MFS International New Discovery Fund | 9.8% |
| MFS Institutional Money Market Portfolio | 0.2% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MDIB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International

Diversification<sup>SM</sup> Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-MDIGX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Diversification Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| C | $58 | 1.10% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 43801906811 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 7 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio target allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2222020.jpg)

 **Portfolio actual allocation**

![Port Comp - Portfolio Actual Allocation Chart](chartimages_2222024.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Research International Fund | 27.6% |
| MFS Emerging Markets Equity Fund | 17.2% |
| MFS International Intrinsic Value Fund | 15.2% |
| MFS International Large Cap Value Fund | 15.1% |
| MFS International Growth Fund | 14.9% |
| MFS International New Discovery Fund | 9.8% |
| MFS Institutional Money Market Portfolio | 0.2% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MDIC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International

Diversification<sup>SM</sup> Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-MDIJX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Diversification Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| I | $5 | 0.10% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 43801906811 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 7 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio target allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2222114.jpg)

 **Portfolio actual allocation**

![Port Comp - Portfolio Actual Allocation Chart](chartimages_2222118.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Research International Fund | 27.6% |
| MFS Emerging Markets Equity Fund | 17.2% |
| MFS International Intrinsic Value Fund | 15.2% |
| MFS International Large Cap Value Fund | 15.1% |
| MFS International Growth Fund | 14.9% |
| MFS International New Discovery Fund | 9.8% |
| MFS Institutional Money Market Portfolio | 0.2% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MDII-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International

Diversification<sup>SM</sup> Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-MDIOX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Diversification Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R1 | $58 | 1.10% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 43801906811 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 7 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio target allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2222208.jpg)

 **Portfolio actual allocation**

![Port Comp - Portfolio Actual Allocation Chart](chartimages_2222212.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Research International Fund | 27.6% |
| MFS Emerging Markets Equity Fund | 17.2% |
| MFS International Intrinsic Value Fund | 15.2% |
| MFS International Large Cap Value Fund | 15.1% |
| MFS International Growth Fund | 14.9% |
| MFS International New Discovery Fund | 9.8% |
| MFS Institutional Money Market Portfolio | 0.2% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MDIR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International

Diversification<sup>SM</sup> Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-MDIKX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Diversification Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R2 | $32 | 0.60% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 43801906811 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 7 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio target allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2222302.jpg)

 **Portfolio actual allocation**

![Port Comp - Portfolio Actual Allocation Chart](chartimages_2222306.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Research International Fund | 27.6% |
| MFS Emerging Markets Equity Fund | 17.2% |
| MFS International Intrinsic Value Fund | 15.2% |
| MFS International Large Cap Value Fund | 15.1% |
| MFS International Growth Fund | 14.9% |
| MFS International New Discovery Fund | 9.8% |
| MFS Institutional Money Market Portfolio | 0.2% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MDIR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International

Diversification<sup>SM</sup> Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-MDIHX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Diversification Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R3 | $18 | 0.35% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 43801906811 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 7 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio target allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2222396.jpg)

 **Portfolio actual allocation**

![Port Comp - Portfolio Actual Allocation Chart](chartimages_2222400.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Research International Fund | 27.6% |
| MFS Emerging Markets Equity Fund | 17.2% |
| MFS International Intrinsic Value Fund | 15.2% |
| MFS International Large Cap Value Fund | 15.1% |
| MFS International Growth Fund | 14.9% |
| MFS International New Discovery Fund | 9.8% |
| MFS Institutional Money Market Portfolio | 0.2% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MDIR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International

Diversification<sup>SM</sup> Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-MDITX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Diversification Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R4 | $5 | 0.10% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 43801906811 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 7 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio target allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2222490.jpg)

 **Portfolio actual allocation**

![Port Comp - Portfolio Actual Allocation Chart](chartimages_2222494.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Research International Fund | 27.6% |
| MFS Emerging Markets Equity Fund | 17.2% |
| MFS International Intrinsic Value Fund | 15.2% |
| MFS International Large Cap Value Fund | 15.1% |
| MFS International Growth Fund | 14.9% |
| MFS International New Discovery Fund | 9.8% |
| MFS Institutional Money Market Portfolio | 0.2% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MDIR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International

Diversification<sup>SM</sup> Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-MDIZX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Diversification Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R6 | $0 | 0.00% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 43801906811 | Portfolio Turnover Rate (%):<sub>1</sub> |
| Total Number of Holdings: | 7 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio target allocation**

![Port Comp - Portfolio Target Allocation Chart](chartimages_2222584.jpg)

 **Portfolio actual allocation**

![Port Comp - Portfolio Actual Allocation Chart](chartimages_2222588.jpg)

 **Portfolio holdings**

---

| | |
|:---|:---|
| MFS Research International Fund | 27.6% |
| MFS Emerging Markets Equity Fund | 17.2% |
| MFS International Intrinsic Value Fund | 15.2% |
| MFS International Large Cap Value Fund | 15.1% |
| MFS International Growth Fund | 14.9% |
| MFS International New Discovery Fund | 9.8% |
| MFS Institutional Money Market Portfolio | 0.2% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MDIR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Managed Wealth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-MNWAX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Managed Wealth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| A | $47 | 0.92% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 37759846 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 13 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 11/30/25)

 **Portfolio structure**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Active<br> Security<br> Selection<br> (a)** | **Derivative<br> Overlay <br> Positions<br> (b)** | **Net Market <br> Exposure<br> (c)** |
| **Strategic Allocation** | MFS Value Fund | 30.5% |  |  |
|  | MFS International Equity Fund | 30.1% |  |  |
|  | MFS Growth Fund | 29.8% |  |  |
| **Market Exposure Overlay** | Mini Russell 1000 Growth Future DEC 19 25 |  | (8.3)% |  |
|  | Mini MSCI EAFE Index Future DEC 19 25 |  | (13.1)% |  |
|  | Mini Russell 1000 Value Index Future DEC 19 25 |  | (13.4)% |  |
| **Net Equity Exposure** | **Net Equity Exposure** |  |  | 55.6% |
|  | Standard & Poor's 500 Index Option 5575.00 PUT MAR 20 26 |  | (0.5)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT JUN 18 26 |  | (0.6)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT SEP 18 26 |  | (1.0)% |  |
| **Standard & Poors Index Option PUT(s)** | **Standard & Poors Index Option PUT(s)** |  |  | (2.1)% |
| **Downside Hedge(s)** | **Downside Hedge(s)** |  |  | (2.1)% |
| **Net Equivalent Equity Exposure** | **Net Equivalent Equity Exposure** | 90.4% | (36.9)% | 53.5% |
| **Limited Maturity U.S. Treasury Notes** |  |  |  | 1.8% |
| **Cash** | Cash & Cash Equivalents (d) |  |  | 7.7% |
|  | Other (e) |  |  | 37.0% |
| **Total Net Exposure Summary** | **Total Net Exposure Summary** |  |  | 100.0% |

---

(a) Represents the actively managed portion of the portfolio and for purposes of this presentation, components include the value of securities, less any securities sold short. The bond component will include any accrued interest amounts. This also reflects the equivalent exposure of certain derivative positions. These amounts may be negative from time to time.

(b) Represents the tactical overlay portion of the portfolio which is how the fund manages its exposure to markets and currencies through the use of derivative positions. Percentages reflect the equivalent exposure of those derivative positions.

(c) For purposes of this presentation, the components include the value of securities, less any securities sold short, and reflect the impact of the equivalent exposure of all derivative positions. These amounts may be negative from time to time. The bond component will include any accrued interest amounts.

(d) Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.

(e) Other includes currency derivatives and/or the offsetting of the leverage produced by derivative positions.

Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.

Where the fund holds convertible bonds, they are treated as part of the equity portion of the portfolio.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MGWA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Managed Wealth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class B-MNWBX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Managed Wealth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| B | $84 | 1.67% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 37759846 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 13 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 11/30/25)

 **Portfolio structure**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Active<br> Security<br> Selection<br> (a)** | **Derivative<br> Overlay <br> Positions<br> (b)** | **Net Market <br> Exposure<br> (c)** |
| **Strategic Allocation** | MFS Value Fund | 30.5% |  |  |
|  | MFS International Equity Fund | 30.1% |  |  |
|  | MFS Growth Fund | 29.8% |  |  |
| **Market Exposure Overlay** | Mini Russell 1000 Growth Future DEC 19 25 |  | (8.3)% |  |
|  | Mini MSCI EAFE Index Future DEC 19 25 |  | (13.1)% |  |
|  | Mini Russell 1000 Value Index Future DEC 19 25 |  | (13.4)% |  |
| **Net Equity Exposure** | **Net Equity Exposure** |  |  | 55.6% |
|  | Standard & Poor's 500 Index Option 5575.00 PUT MAR 20 26 |  | (0.5)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT JUN 18 26 |  | (0.6)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT SEP 18 26 |  | (1.0)% |  |
| **Standard & Poors Index Option PUT(s)** | **Standard & Poors Index Option PUT(s)** |  |  | (2.1)% |
| **Downside Hedge(s)** | **Downside Hedge(s)** |  |  | (2.1)% |
| **Net Equivalent Equity Exposure** | **Net Equivalent Equity Exposure** | 90.4% | (36.9)% | 53.5% |
| **Limited Maturity U.S. Treasury Notes** |  |  |  | 1.8% |
| **Cash** | Cash & Cash Equivalents (d) |  |  | 7.7% |
|  | Other (e) |  |  | 37.0% |
| **Total Net Exposure Summary** | **Total Net Exposure Summary** |  |  | 100.0% |

---

(a) Represents the actively managed portion of the portfolio and for purposes of this presentation, components include the value of securities, less any securities sold short. The bond component will include any accrued interest amounts. This also reflects the equivalent exposure of certain derivative positions. These amounts may be negative from time to time.

(b) Represents the tactical overlay portion of the portfolio which is how the fund manages its exposure to markets and currencies through the use of derivative positions. Percentages reflect the equivalent exposure of those derivative positions.

(c) For purposes of this presentation, the components include the value of securities, less any securities sold short, and reflect the impact of the equivalent exposure of all derivative positions. These amounts may be negative from time to time. The bond component will include any accrued interest amounts.

(d) Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.

(e) Other includes currency derivatives and/or the offsetting of the leverage produced by derivative positions.

Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.

Where the fund holds convertible bonds, they are treated as part of the equity portion of the portfolio.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MGWB-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Managed Wealth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-MNWCX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Managed Wealth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| C | $84 | 1.67% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 37759846 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 13 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 11/30/25)

 **Portfolio structure**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Active<br> Security<br> Selection<br> (a)** | **Derivative<br> Overlay <br> Positions<br> (b)** | **Net Market <br> Exposure<br> (c)** |
| **Strategic Allocation** | MFS Value Fund | 30.5% |  |  |
|  | MFS International Equity Fund | 30.1% |  |  |
|  | MFS Growth Fund | 29.8% |  |  |
| **Market Exposure Overlay** | Mini Russell 1000 Growth Future DEC 19 25 |  | (8.3)% |  |
|  | Mini MSCI EAFE Index Future DEC 19 25 |  | (13.1)% |  |
|  | Mini Russell 1000 Value Index Future DEC 19 25 |  | (13.4)% |  |
| **Net Equity Exposure** | **Net Equity Exposure** |  |  | 55.6% |
|  | Standard & Poor's 500 Index Option 5575.00 PUT MAR 20 26 |  | (0.5)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT JUN 18 26 |  | (0.6)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT SEP 18 26 |  | (1.0)% |  |
| **Standard & Poors Index Option PUT(s)** | **Standard & Poors Index Option PUT(s)** |  |  | (2.1)% |
| **Downside Hedge(s)** | **Downside Hedge(s)** |  |  | (2.1)% |
| **Net Equivalent Equity Exposure** | **Net Equivalent Equity Exposure** | 90.4% | (36.9)% | 53.5% |
| **Limited Maturity U.S. Treasury Notes** |  |  |  | 1.8% |
| **Cash** | Cash & Cash Equivalents (d) |  |  | 7.7% |
|  | Other (e) |  |  | 37.0% |
| **Total Net Exposure Summary** | **Total Net Exposure Summary** |  |  | 100.0% |

---

(a) Represents the actively managed portion of the portfolio and for purposes of this presentation, components include the value of securities, less any securities sold short. The bond component will include any accrued interest amounts. This also reflects the equivalent exposure of certain derivative positions. These amounts may be negative from time to time.

(b) Represents the tactical overlay portion of the portfolio which is how the fund manages its exposure to markets and currencies through the use of derivative positions. Percentages reflect the equivalent exposure of those derivative positions.

(c) For purposes of this presentation, the components include the value of securities, less any securities sold short, and reflect the impact of the equivalent exposure of all derivative positions. These amounts may be negative from time to time. The bond component will include any accrued interest amounts.

(d) Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.

(e) Other includes currency derivatives and/or the offsetting of the leverage produced by derivative positions.

Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.

Where the fund holds convertible bonds, they are treated as part of the equity portion of the portfolio.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MGWC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Managed Wealth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-MNWIX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Managed Wealth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| I | $34 | 0.67% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 37759846 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 13 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 11/30/25)

 **Portfolio structure**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Active<br> Security<br> Selection<br> (a)** | **Derivative<br> Overlay <br> Positions<br> (b)** | **Net Market <br> Exposure<br> (c)** |
| **Strategic Allocation** | MFS Value Fund | 30.5% |  |  |
|  | MFS International Equity Fund | 30.1% |  |  |
|  | MFS Growth Fund | 29.8% |  |  |
| **Market Exposure Overlay** | Mini Russell 1000 Growth Future DEC 19 25 |  | (8.3)% |  |
|  | Mini MSCI EAFE Index Future DEC 19 25 |  | (13.1)% |  |
|  | Mini Russell 1000 Value Index Future DEC 19 25 |  | (13.4)% |  |
| **Net Equity Exposure** | **Net Equity Exposure** |  |  | 55.6% |
|  | Standard & Poor's 500 Index Option 5575.00 PUT MAR 20 26 |  | (0.5)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT JUN 18 26 |  | (0.6)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT SEP 18 26 |  | (1.0)% |  |
| **Standard & Poors Index Option PUT(s)** | **Standard & Poors Index Option PUT(s)** |  |  | (2.1)% |
| **Downside Hedge(s)** | **Downside Hedge(s)** |  |  | (2.1)% |
| **Net Equivalent Equity Exposure** | **Net Equivalent Equity Exposure** | 90.4% | (36.9)% | 53.5% |
| **Limited Maturity U.S. Treasury Notes** |  |  |  | 1.8% |
| **Cash** | Cash & Cash Equivalents (d) |  |  | 7.7% |
|  | Other (e) |  |  | 37.0% |
| **Total Net Exposure Summary** | **Total Net Exposure Summary** |  |  | 100.0% |

---

(a) Represents the actively managed portion of the portfolio and for purposes of this presentation, components include the value of securities, less any securities sold short. The bond component will include any accrued interest amounts. This also reflects the equivalent exposure of certain derivative positions. These amounts may be negative from time to time.

(b) Represents the tactical overlay portion of the portfolio which is how the fund manages its exposure to markets and currencies through the use of derivative positions. Percentages reflect the equivalent exposure of those derivative positions.

(c) For purposes of this presentation, the components include the value of securities, less any securities sold short, and reflect the impact of the equivalent exposure of all derivative positions. These amounts may be negative from time to time. The bond component will include any accrued interest amounts.

(d) Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.

(e) Other includes currency derivatives and/or the offsetting of the leverage produced by derivative positions.

Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.

Where the fund holds convertible bonds, they are treated as part of the equity portion of the portfolio.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MGWI-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Managed Wealth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-MNWRX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Managed Wealth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R1 | $84 | 1.67% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 37759846 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 13 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 11/30/25)

 **Portfolio structure**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Active<br> Security<br> Selection<br> (a)** | **Derivative<br> Overlay <br> Positions<br> (b)** | **Net Market <br> Exposure<br> (c)** |
| **Strategic Allocation** | MFS Value Fund | 30.5% |  |  |
|  | MFS International Equity Fund | 30.1% |  |  |
|  | MFS Growth Fund | 29.8% |  |  |
| **Market Exposure Overlay** | Mini Russell 1000 Growth Future DEC 19 25 |  | (8.3)% |  |
|  | Mini MSCI EAFE Index Future DEC 19 25 |  | (13.1)% |  |
|  | Mini Russell 1000 Value Index Future DEC 19 25 |  | (13.4)% |  |
| **Net Equity Exposure** | **Net Equity Exposure** |  |  | 55.6% |
|  | Standard & Poor's 500 Index Option 5575.00 PUT MAR 20 26 |  | (0.5)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT JUN 18 26 |  | (0.6)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT SEP 18 26 |  | (1.0)% |  |
| **Standard & Poors Index Option PUT(s)** | **Standard & Poors Index Option PUT(s)** |  |  | (2.1)% |
| **Downside Hedge(s)** | **Downside Hedge(s)** |  |  | (2.1)% |
| **Net Equivalent Equity Exposure** | **Net Equivalent Equity Exposure** | 90.4% | (36.9)% | 53.5% |
| **Limited Maturity U.S. Treasury Notes** |  |  |  | 1.8% |
| **Cash** | Cash & Cash Equivalents (d) |  |  | 7.7% |
|  | Other (e) |  |  | 37.0% |
| **Total Net Exposure Summary** | **Total Net Exposure Summary** |  |  | 100.0% |

---

(a) Represents the actively managed portion of the portfolio and for purposes of this presentation, components include the value of securities, less any securities sold short. The bond component will include any accrued interest amounts. This also reflects the equivalent exposure of certain derivative positions. These amounts may be negative from time to time.

(b) Represents the tactical overlay portion of the portfolio which is how the fund manages its exposure to markets and currencies through the use of derivative positions. Percentages reflect the equivalent exposure of those derivative positions.

(c) For purposes of this presentation, the components include the value of securities, less any securities sold short, and reflect the impact of the equivalent exposure of all derivative positions. These amounts may be negative from time to time. The bond component will include any accrued interest amounts.

(d) Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.

(e) Other includes currency derivatives and/or the offsetting of the leverage produced by derivative positions.

Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.

Where the fund holds convertible bonds, they are treated as part of the equity portion of the portfolio.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MGWR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Managed Wealth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-MNWSX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Managed Wealth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R2 | $59 | 1.17% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 37759846 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 13 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 11/30/25)

 **Portfolio structure**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Active<br> Security<br> Selection<br> (a)** | **Derivative<br> Overlay <br> Positions<br> (b)** | **Net Market <br> Exposure<br> (c)** |
| **Strategic Allocation** | MFS Value Fund | 30.5% |  |  |
|  | MFS International Equity Fund | 30.1% |  |  |
|  | MFS Growth Fund | 29.8% |  |  |
| **Market Exposure Overlay** | Mini Russell 1000 Growth Future DEC 19 25 |  | (8.3)% |  |
|  | Mini MSCI EAFE Index Future DEC 19 25 |  | (13.1)% |  |
|  | Mini Russell 1000 Value Index Future DEC 19 25 |  | (13.4)% |  |
| **Net Equity Exposure** | **Net Equity Exposure** |  |  | 55.6% |
|  | Standard & Poor's 500 Index Option 5575.00 PUT MAR 20 26 |  | (0.5)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT JUN 18 26 |  | (0.6)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT SEP 18 26 |  | (1.0)% |  |
| **Standard & Poors Index Option PUT(s)** | **Standard & Poors Index Option PUT(s)** |  |  | (2.1)% |
| **Downside Hedge(s)** | **Downside Hedge(s)** |  |  | (2.1)% |
| **Net Equivalent Equity Exposure** | **Net Equivalent Equity Exposure** | 90.4% | (36.9)% | 53.5% |
| **Limited Maturity U.S. Treasury Notes** |  |  |  | 1.8% |
| **Cash** | Cash & Cash Equivalents (d) |  |  | 7.7% |
|  | Other (e) |  |  | 37.0% |
| **Total Net Exposure Summary** | **Total Net Exposure Summary** |  |  | 100.0% |

---

(a) Represents the actively managed portion of the portfolio and for purposes of this presentation, components include the value of securities, less any securities sold short. The bond component will include any accrued interest amounts. This also reflects the equivalent exposure of certain derivative positions. These amounts may be negative from time to time.

(b) Represents the tactical overlay portion of the portfolio which is how the fund manages its exposure to markets and currencies through the use of derivative positions. Percentages reflect the equivalent exposure of those derivative positions.

(c) For purposes of this presentation, the components include the value of securities, less any securities sold short, and reflect the impact of the equivalent exposure of all derivative positions. These amounts may be negative from time to time. The bond component will include any accrued interest amounts.

(d) Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.

(e) Other includes currency derivatives and/or the offsetting of the leverage produced by derivative positions.

Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.

Where the fund holds convertible bonds, they are treated as part of the equity portion of the portfolio.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MGWR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Managed Wealth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-MNWTX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Managed Wealth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R3 | $47 | 0.92% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 37759846 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 13 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 11/30/25)

 **Portfolio structure**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Active<br> Security<br> Selection<br> (a)** | **Derivative<br> Overlay <br> Positions<br> (b)** | **Net Market <br> Exposure<br> (c)** |
| **Strategic Allocation** | MFS Value Fund | 30.5% |  |  |
|  | MFS International Equity Fund | 30.1% |  |  |
|  | MFS Growth Fund | 29.8% |  |  |
| **Market Exposure Overlay** | Mini Russell 1000 Growth Future DEC 19 25 |  | (8.3)% |  |
|  | Mini MSCI EAFE Index Future DEC 19 25 |  | (13.1)% |  |
|  | Mini Russell 1000 Value Index Future DEC 19 25 |  | (13.4)% |  |
| **Net Equity Exposure** | **Net Equity Exposure** |  |  | 55.6% |
|  | Standard & Poor's 500 Index Option 5575.00 PUT MAR 20 26 |  | (0.5)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT JUN 18 26 |  | (0.6)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT SEP 18 26 |  | (1.0)% |  |
| **Standard & Poors Index Option PUT(s)** | **Standard & Poors Index Option PUT(s)** |  |  | (2.1)% |
| **Downside Hedge(s)** | **Downside Hedge(s)** |  |  | (2.1)% |
| **Net Equivalent Equity Exposure** | **Net Equivalent Equity Exposure** | 90.4% | (36.9)% | 53.5% |
| **Limited Maturity U.S. Treasury Notes** |  |  |  | 1.8% |
| **Cash** | Cash & Cash Equivalents (d) |  |  | 7.7% |
|  | Other (e) |  |  | 37.0% |
| **Total Net Exposure Summary** | **Total Net Exposure Summary** |  |  | 100.0% |

---

(a) Represents the actively managed portion of the portfolio and for purposes of this presentation, components include the value of securities, less any securities sold short. The bond component will include any accrued interest amounts. This also reflects the equivalent exposure of certain derivative positions. These amounts may be negative from time to time.

(b) Represents the tactical overlay portion of the portfolio which is how the fund manages its exposure to markets and currencies through the use of derivative positions. Percentages reflect the equivalent exposure of those derivative positions.

(c) For purposes of this presentation, the components include the value of securities, less any securities sold short, and reflect the impact of the equivalent exposure of all derivative positions. These amounts may be negative from time to time. The bond component will include any accrued interest amounts.

(d) Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.

(e) Other includes currency derivatives and/or the offsetting of the leverage produced by derivative positions.

Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.

Where the fund holds convertible bonds, they are treated as part of the equity portion of the portfolio.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MGWR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Managed Wealth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-MNWUX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Managed Wealth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R4 | $34 | 0.67% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 37759846 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 13 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 11/30/25)

 **Portfolio structure**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Active<br> Security<br> Selection<br> (a)** | **Derivative<br> Overlay <br> Positions<br> (b)** | **Net Market <br> Exposure<br> (c)** |
| **Strategic Allocation** | MFS Value Fund | 30.5% |  |  |
|  | MFS International Equity Fund | 30.1% |  |  |
|  | MFS Growth Fund | 29.8% |  |  |
| **Market Exposure Overlay** | Mini Russell 1000 Growth Future DEC 19 25 |  | (8.3)% |  |
|  | Mini MSCI EAFE Index Future DEC 19 25 |  | (13.1)% |  |
|  | Mini Russell 1000 Value Index Future DEC 19 25 |  | (13.4)% |  |
| **Net Equity Exposure** | **Net Equity Exposure** |  |  | 55.6% |
|  | Standard & Poor's 500 Index Option 5575.00 PUT MAR 20 26 |  | (0.5)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT JUN 18 26 |  | (0.6)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT SEP 18 26 |  | (1.0)% |  |
| **Standard & Poors Index Option PUT(s)** | **Standard & Poors Index Option PUT(s)** |  |  | (2.1)% |
| **Downside Hedge(s)** | **Downside Hedge(s)** |  |  | (2.1)% |
| **Net Equivalent Equity Exposure** | **Net Equivalent Equity Exposure** | 90.4% | (36.9)% | 53.5% |
| **Limited Maturity U.S. Treasury Notes** |  |  |  | 1.8% |
| **Cash** | Cash & Cash Equivalents (d) |  |  | 7.7% |
|  | Other (e) |  |  | 37.0% |
| **Total Net Exposure Summary** | **Total Net Exposure Summary** |  |  | 100.0% |

---

(a) Represents the actively managed portion of the portfolio and for purposes of this presentation, components include the value of securities, less any securities sold short. The bond component will include any accrued interest amounts. This also reflects the equivalent exposure of certain derivative positions. These amounts may be negative from time to time.

(b) Represents the tactical overlay portion of the portfolio which is how the fund manages its exposure to markets and currencies through the use of derivative positions. Percentages reflect the equivalent exposure of those derivative positions.

(c) For purposes of this presentation, the components include the value of securities, less any securities sold short, and reflect the impact of the equivalent exposure of all derivative positions. These amounts may be negative from time to time. The bond component will include any accrued interest amounts.

(d) Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.

(e) Other includes currency derivatives and/or the offsetting of the leverage produced by derivative positions.

Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.

Where the fund holds convertible bonds, they are treated as part of the equity portion of the portfolio.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MGWR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> Managed Wealth Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-MNWZX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS Managed Wealth Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment ~ | Costs paid as a percentage of a $10,000 investment (annualized) ~ |
| R6 | $30 | 0.59% |

---

˜ Expenses are direct expenses and do not include underlying fund fees and expenses.

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 37759846 | Portfolio Turnover Rate (%):<sub>9</sub> |
| Total Number of Holdings: | 13 |  |

---

PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 11/30/25)

 **Portfolio structure**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Active<br> Security<br> Selection<br> (a)** | **Derivative<br> Overlay <br> Positions<br> (b)** | **Net Market <br> Exposure<br> (c)** |
| **Strategic Allocation** | MFS Value Fund | 30.5% |  |  |
|  | MFS International Equity Fund | 30.1% |  |  |
|  | MFS Growth Fund | 29.8% |  |  |
| **Market Exposure Overlay** | Mini Russell 1000 Growth Future DEC 19 25 |  | (8.3)% |  |
|  | Mini MSCI EAFE Index Future DEC 19 25 |  | (13.1)% |  |
|  | Mini Russell 1000 Value Index Future DEC 19 25 |  | (13.4)% |  |
| **Net Equity Exposure** | **Net Equity Exposure** |  |  | 55.6% |
|  | Standard & Poor's 500 Index Option 5575.00 PUT MAR 20 26 |  | (0.5)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT JUN 18 26 |  | (0.6)% |  |
|  | Standard & Poor's 500 Index Option 5400.00 PUT SEP 18 26 |  | (1.0)% |  |
| **Standard & Poors Index Option PUT(s)** | **Standard & Poors Index Option PUT(s)** |  |  | (2.1)% |
| **Downside Hedge(s)** | **Downside Hedge(s)** |  |  | (2.1)% |
| **Net Equivalent Equity Exposure** | **Net Equivalent Equity Exposure** | 90.4% | (36.9)% | 53.5% |
| **Limited Maturity U.S. Treasury Notes** |  |  |  | 1.8% |
| **Cash** | Cash & Cash Equivalents (d) |  |  | 7.7% |
|  | Other (e) |  |  | 37.0% |
| **Total Net Exposure Summary** | **Total Net Exposure Summary** |  |  | 100.0% |

---

(a) Represents the actively managed portion of the portfolio and for purposes of this presentation, components include the value of securities, less any securities sold short. The bond component will include any accrued interest amounts. This also reflects the equivalent exposure of certain derivative positions. These amounts may be negative from time to time.

(b) Represents the tactical overlay portion of the portfolio which is how the fund manages its exposure to markets and currencies through the use of derivative positions. Percentages reflect the equivalent exposure of those derivative positions.

(c) For purposes of this presentation, the components include the value of securities, less any securities sold short, and reflect the impact of the equivalent exposure of all derivative positions. These amounts may be negative from time to time. The bond component will include any accrued interest amounts.

(d) Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.

(e) Other includes currency derivatives and/or the offsetting of the leverage produced by derivative positions.

Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.

Where the fund holds convertible bonds, they are treated as part of the equity portion of the portfolio.

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MGWR6-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Large Cap Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class A-MKVBX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Large Cap Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| A | $51 | 0.96% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 7352609300 | Portfolio Turnover Rate (%):<sub>10</sub> |
| Total Number of Holdings: | 91 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.0% |
| Money Market Funds | 1.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NatWest Group PLC | 4.3% |
| Mitsubishi UFJ Financial Group, Inc. | 3.6% |
| Roche Holding AG | 2.8% |
| UBS Group AG | 2.5% |
| BNP Paribas S.A. | 2.5% |
| British American Tobacco PLC | 2.4% |
| Barclays PLC | 2.4% |
| TotalEnergies SE | 2.3% |
| National Grid PLC | 2.1% |
| Bank of Ireland Group PLC | 2.0% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| United Kingdom | 26.3% |
| Japan | 15.7% |
| France | 15.4% |
| Switzerland | 7.5% |
| United States | 5.8% |
| Ireland | 4.7% |
| Germany | 4.5% |
| Canada | 4.4% |
| Netherlands | 4.0% |
| Other Countries | 11.7% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MKVA-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Large Cap Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class C-MKVCX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Large Cap Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| C | $91 | 1.71% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 7352609300 | Portfolio Turnover Rate (%):<sub>10</sub> |
| Total Number of Holdings: | 91 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.0% |
| Money Market Funds | 1.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NatWest Group PLC | 4.3% |
| Mitsubishi UFJ Financial Group, Inc. | 3.6% |
| Roche Holding AG | 2.8% |
| UBS Group AG | 2.5% |
| BNP Paribas S.A. | 2.5% |
| British American Tobacco PLC | 2.4% |
| Barclays PLC | 2.4% |
| TotalEnergies SE | 2.3% |
| National Grid PLC | 2.1% |
| Bank of Ireland Group PLC | 2.0% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| United Kingdom | 26.3% |
| Japan | 15.7% |
| France | 15.4% |
| Switzerland | 7.5% |
| United States | 5.8% |
| Ireland | 4.7% |
| Germany | 4.5% |
| Canada | 4.4% |
| Netherlands | 4.0% |
| Other Countries | 11.7% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MKVC-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Large Cap Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class I-MKVIX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Large Cap Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| I | $38 | 0.71% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 7352609300 | Portfolio Turnover Rate (%):<sub>10</sub> |
| Total Number of Holdings: | 91 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.0% |
| Money Market Funds | 1.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NatWest Group PLC | 4.3% |
| Mitsubishi UFJ Financial Group, Inc. | 3.6% |
| Roche Holding AG | 2.8% |
| UBS Group AG | 2.5% |
| BNP Paribas S.A. | 2.5% |
| British American Tobacco PLC | 2.4% |
| Barclays PLC | 2.4% |
| TotalEnergies SE | 2.3% |
| National Grid PLC | 2.1% |
| Bank of Ireland Group PLC | 2.0% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| United Kingdom | 26.3% |
| Japan | 15.7% |
| France | 15.4% |
| Switzerland | 7.5% |
| United States | 5.8% |
| Ireland | 4.7% |
| Germany | 4.5% |
| Canada | 4.4% |
| Netherlands | 4.0% |
| Other Countries | 11.7% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MKVI-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Large Cap Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R1-MKVDX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Large Cap Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R1 | $91 | 1.71% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 7352609300 | Portfolio Turnover Rate (%):<sub>10</sub> |
| Total Number of Holdings: | 91 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.0% |
| Money Market Funds | 1.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NatWest Group PLC | 4.3% |
| Mitsubishi UFJ Financial Group, Inc. | 3.6% |
| Roche Holding AG | 2.8% |
| UBS Group AG | 2.5% |
| BNP Paribas S.A. | 2.5% |
| British American Tobacco PLC | 2.4% |
| Barclays PLC | 2.4% |
| TotalEnergies SE | 2.3% |
| National Grid PLC | 2.1% |
| Bank of Ireland Group PLC | 2.0% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| United Kingdom | 26.3% |
| Japan | 15.7% |
| France | 15.4% |
| Switzerland | 7.5% |
| United States | 5.8% |
| Ireland | 4.7% |
| Germany | 4.5% |
| Canada | 4.4% |
| Netherlands | 4.0% |
| Other Countries | 11.7% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MKVR1-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Large Cap Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R2-MKVEX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Large Cap Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R2 | $64 | 1.21% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 7352609300 | Portfolio Turnover Rate (%):<sub>10</sub> |
| Total Number of Holdings: | 91 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.0% |
| Money Market Funds | 1.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NatWest Group PLC | 4.3% |
| Mitsubishi UFJ Financial Group, Inc. | 3.6% |
| Roche Holding AG | 2.8% |
| UBS Group AG | 2.5% |
| BNP Paribas S.A. | 2.5% |
| British American Tobacco PLC | 2.4% |
| Barclays PLC | 2.4% |
| TotalEnergies SE | 2.3% |
| National Grid PLC | 2.1% |
| Bank of Ireland Group PLC | 2.0% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| United Kingdom | 26.3% |
| Japan | 15.7% |
| France | 15.4% |
| Switzerland | 7.5% |
| United States | 5.8% |
| Ireland | 4.7% |
| Germany | 4.5% |
| Canada | 4.4% |
| Netherlands | 4.0% |
| Other Countries | 11.7% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MKVR2-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Large Cap Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R3-MKVFX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Large Cap Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R3 | $51 | 0.96% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 7352609300 | Portfolio Turnover Rate (%):<sub>10</sub> |
| Total Number of Holdings: | 91 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.0% |
| Money Market Funds | 1.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NatWest Group PLC | 4.3% |
| Mitsubishi UFJ Financial Group, Inc. | 3.6% |
| Roche Holding AG | 2.8% |
| UBS Group AG | 2.5% |
| BNP Paribas S.A. | 2.5% |
| British American Tobacco PLC | 2.4% |
| Barclays PLC | 2.4% |
| TotalEnergies SE | 2.3% |
| National Grid PLC | 2.1% |
| Bank of Ireland Group PLC | 2.0% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| United Kingdom | 26.3% |
| Japan | 15.7% |
| France | 15.4% |
| Switzerland | 7.5% |
| United States | 5.8% |
| Ireland | 4.7% |
| Germany | 4.5% |
| Canada | 4.4% |
| Netherlands | 4.0% |
| Other Countries | 11.7% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MKVR3-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Large Cap Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R4-MKVGX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Large Cap Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R4 | $38 | 0.71% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 7352609300 | Portfolio Turnover Rate (%):<sub>10</sub> |
| Total Number of Holdings: | 91 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.0% |
| Money Market Funds | 1.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NatWest Group PLC | 4.3% |
| Mitsubishi UFJ Financial Group, Inc. | 3.6% |
| Roche Holding AG | 2.8% |
| UBS Group AG | 2.5% |
| BNP Paribas S.A. | 2.5% |
| British American Tobacco PLC | 2.4% |
| Barclays PLC | 2.4% |
| TotalEnergies SE | 2.3% |
| National Grid PLC | 2.1% |
| Bank of Ireland Group PLC | 2.0% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| United Kingdom | 26.3% |
| Japan | 15.7% |
| France | 15.4% |
| Switzerland | 7.5% |
| United States | 5.8% |
| Ireland | 4.7% |
| Germany | 4.5% |
| Canada | 4.4% |
| Netherlands | 4.0% |
| Other Countries | 11.7% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MKVR4-SEM

![MFSLOGO_RED.EPS](images_1184.jpg)

MFS<sup>®</sup> International Large Cap Value Fund

![TSR_Ribbon_red](images_1189.jpg)

Class R6-MKVHX

Semiannual Shareholder Report

This semiannual shareholder report contains important information about MFS International Large Cap Value Fund for the period of June 1, 2025 to November 30, 2025. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1-800-225-2606 or by sending an e-mail request to orderliterature@mfs.com.

FUND EXPENSES

What were the fund costs for the last six months?

---

| | | |
|:---|:---|:---|
| *(based on a hypothetical $10,000 investment)* |  |  |
| Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment (annualized) |
| R6 | $36 | 0.67% |

---

FUND STATISTICS AS OF 11/30/25

---

| | | |
|:---|:---|:---|
| Net Assets ($): | 7352609300 | Portfolio Turnover Rate (%):<sub>10</sub> |
| Total Number of Holdings: | 91 |  |

---

Where the fund holds derivatives, they are not included in the total number of portfolio holdings.

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 11/30/25)

 **Portfolio structure**

---

| | |
|:---|:---|
| Equities | 99.0% |
| Money Market Funds | 1.0% |

---

 **Top ten holdings**

---

| | |
|:---|:---|
| NatWest Group PLC | 4.3% |
| Mitsubishi UFJ Financial Group, Inc. | 3.6% |
| Roche Holding AG | 2.8% |
| UBS Group AG | 2.5% |
| BNP Paribas S.A. | 2.5% |
| British American Tobacco PLC | 2.4% |
| Barclays PLC | 2.4% |
| TotalEnergies SE | 2.3% |
| National Grid PLC | 2.1% |
| Bank of Ireland Group PLC | 2.0% |

---

 **Issuer country weightings**

---

| | |
|:---|:---|
| United Kingdom | 26.3% |
| Japan | 15.7% |
| France | 15.4% |
| Switzerland | 7.5% |
| United States | 5.8% |
| Ireland | 4.7% |
| Germany | 4.5% |
| Canada | 4.4% |
| Netherlands | 4.0% |
| Other Countries | 11.7% |

---

#### ADDITIONAL INFORMATION
You can find the fund's summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1-800-225-2606, by visiting mfs.com/proxyvoting, or by visiting the SEC's website at http://www.sec.gov.

#### IMPORTANT NOTICE REGARDING DELIVERY OF SHAREHOLDER MATERIALS
The fund produces financial annual and semiannual reports and updates its summary prospectus and prospectus annually. To avoid sending duplicate copies of materials to households, only one copy of the fund's annual and semiannual report and summary prospectus may be mailed to shareholders having the same last name and residential address on the fund's records. However, any shareholder may contact the fund at 1-800-225-2606 or the shareholder's financial intermediary to request that copies of these reports and summary prospectuses be sent personally to that shareholder.

MKVR6-SEM

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 1(b):
Not applicable.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITEM 2. CODE OF ETHICS.
During the period covered by this report, the Registrant has not amended any provision in its Code of Ethics (the "Code") that relates to an element of the Code's definition enumerated in paragraph (b) of Item 2 of this Form N-CSR. During the period covered by this report, the Registrant did not grant a waiver, including an implicit waiver, from any provision of the Code.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable for semi-annual reports.

------

#### ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not applicable for semi-annual reports.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable to the Registrant.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITEM 6. INVESTMENTS
A schedule of investments for each series covered by this Form N-CSR is included in the financial statements of such series under Item 7 of this Form N-CSR.

------

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS Conservative Allocation Fund, MFS Moderate Allocation Fund, MFS Growth Allocation Fund, and MFS Aggressive Growth Allocation Fund

**Portfolio of Investments** 

11/30/25 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

**MFS Conservative Allocation Fund**

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Mutual Funds (h) – 100.0% | Mutual Funds (h) – 100.0% | Mutual Funds (h) – 100.0% |
| Bond Funds – 59.3% | Bond Funds – 59.3% | Bond Funds – 59.3% |
| MFS Emerging Markets Debt Fund - Class R6 | 5828945 | &nbsp;&nbsp; $73911026 |
| MFS Emerging Markets Debt Local Currency Fund - Class R6 | 12361295 | &nbsp;&nbsp; 73920543 |
| MFS Global Opportunistic Bond Fund - Class R6 | 31006729 | &nbsp;&nbsp; 257665922 |
| MFS Government Securities Fund - Class R6 | 41370703 | &nbsp;&nbsp; 362821063 |
| MFS High Income Fund - Class R6 | 47047102 | &nbsp;&nbsp; 147727902 |
| MFS Inflation-Adjusted Bond Fund - Class R6 | 39674562 | &nbsp;&nbsp; 366592949 |
| MFS Limited Maturity Fund - Class R6 | 62358558 | &nbsp;&nbsp; 368539076 |
| MFS Total Return Bond Fund - Class R6 | 55012316 | &nbsp;&nbsp; 534169591 |
|  |  | &nbsp;&nbsp; $2185348072 |
| International Equity Funds – 8.6% | International Equity Funds – 8.6% | International Equity Funds – 8.6% |
| MFS International Growth Fund - Class R6 | 1176115 | &nbsp;&nbsp; $58523477 |
| MFS International Intrinsic Value Fund - Class R6 | 1268501 | &nbsp;&nbsp; 59518078 |
| MFS International Large Cap Value Fund - Class R6 | 3370678 | &nbsp;&nbsp; 59492459 |
| MFS Research International Fund - Class R6 | 5189046 | &nbsp;&nbsp; 138547527 |
|  |  | &nbsp;&nbsp; $316081541 |
| Non-Traditional Funds – 4.0% | Non-Traditional Funds – 4.0% | Non-Traditional Funds – 4.0% |
| MFS Commodity Strategy Fund - Class R6 | 17986822 | &nbsp;&nbsp; $74825181 |
| MFS Global Real Estate Fund - Class R6 | 4389410 | &nbsp;&nbsp; 73829871 |
|  |  | &nbsp;&nbsp; $148655052 |
| U.S. Equity Funds – 26.6% | U.S. Equity Funds – 26.6% | U.S. Equity Funds – 26.6% |
| MFS Growth Fund - Class R6 | 853760 | &nbsp;&nbsp; $193359548 |
| MFS Mid Cap Growth Fund - Class R6 | 4362695 | &nbsp;&nbsp; 144666964 |
| MFS Mid Cap Value Fund - Class R6 | 4408460 | &nbsp;&nbsp; 148917765 |
| MFS New Discovery Fund - Class R6 (a) | 1062299 | &nbsp;&nbsp; 37658504 |
| MFS New Discovery Value Fund - Class R6 | 2035793 | &nbsp;&nbsp; 36929295 |
| MFS Research Fund - Class R6 | 2996220 | &nbsp;&nbsp; 195383482 |
| MFS Value Fund - Class R6 | 4194232 | &nbsp;&nbsp; 223468679 |
|  |  | &nbsp;&nbsp; $980384237 |
| Money Market Funds – 1.5% | Money Market Funds – 1.5% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) | 56435879 | &nbsp;&nbsp; $56447166 |
| **Total Mutual Funds (Identified Cost, $2,846,663,853)** | **Total Mutual Funds (Identified Cost, $2,846,663,853)** | &nbsp;&nbsp; **$3686916068** |
| Other Assets, Less Liabilities – 0.0% |  | &nbsp;&nbsp; 1461653 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$3688377721** |

---

**See Portfolio Footnotes and Notes to Financial Statements**

AAFFS-SEM

------

*Portfolio of Investments (unaudited) – continued*

**MFS Moderate Allocation Fund** 

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Mutual Funds (h) – 99.9% | Mutual Funds (h) – 99.9% | Mutual Funds (h) – 99.9% |
| Bond Funds – 39.2% | Bond Funds – 39.2% | Bond Funds – 39.2% |
| MFS Emerging Markets Debt Fund - Class R6 | 15550389 | &nbsp;&nbsp; $197178926 |
| MFS Emerging Markets Debt Local Currency Fund - Class R6 | 21967967 | &nbsp;&nbsp; 131368444 |
| MFS Global Opportunistic Bond Fund - Class R6 | 39347432 | &nbsp;&nbsp; 326977155 |
| MFS Government Securities Fund - Class R6 | 72490304 | &nbsp;&nbsp; 635739963 |
| MFS High Income Fund - Class R6 | 83546810 | &nbsp;&nbsp; 262336985 |
| MFS Inflation-Adjusted Bond Fund - Class R6 | 49368653 | &nbsp;&nbsp; 456166356 |
| MFS Total Return Bond Fund - Class R6 | 57340739 | &nbsp;&nbsp; 556778576 |
|  |  | &nbsp;&nbsp; $2566546405 |
| International Equity Funds – 13.6% | International Equity Funds – 13.6% | International Equity Funds – 13.6% |
| MFS Emerging Markets Equity Fund - Class R6 | 1484849 | &nbsp;&nbsp; $67694268 |
| MFS International Growth Fund - Class R6 | 2731019 | &nbsp;&nbsp; 135895506 |
| MFS International Intrinsic Value Fund - Class R6 | 2947310 | &nbsp;&nbsp; 138287813 |
| MFS International Large Cap Value Fund - Class R6 | 7833444 | &nbsp;&nbsp; 138260283 |
| MFS International New Discovery Fund - Class R6 | 1950597 | &nbsp;&nbsp; 67646690 |
| MFS Research International Fund - Class R6 | 12790269 | &nbsp;&nbsp; 341500185 |
|  |  | &nbsp;&nbsp; $889284745 |
| Non-Traditional Funds – 6.1% | Non-Traditional Funds – 6.1% | Non-Traditional Funds – 6.1% |
| MFS Commodity Strategy Fund - Class R6 | 47923821 | &nbsp;&nbsp; $199363096 |
| MFS Global Real Estate Fund - Class R6 | 11697257 | &nbsp;&nbsp; 196747868 |
|  |  | &nbsp;&nbsp; $396110964 |
| U.S. Equity Funds – 39.5% | U.S. Equity Funds – 39.5% | U.S. Equity Funds – 39.5% |
| MFS Growth Fund - Class R6 | 2087602 | &nbsp;&nbsp; $472800086 |
| MFS Mid Cap Growth Fund - Class R6 | 13337443 | &nbsp;&nbsp; 442269608 |
| MFS Mid Cap Value Fund - Class R6 | 13674873 | &nbsp;&nbsp; 461937209 |
| MFS New Discovery Fund - Class R6 (a) | 2833086 | &nbsp;&nbsp; 100432893 |
| MFS New Discovery Value Fund - Class R6 | 5397295 | &nbsp;&nbsp; 97906937 |
| MFS Research Fund - Class R6 | 7341536 | &nbsp;&nbsp; 478741566 |
| MFS Value Fund - Class R6 | 9929919 | &nbsp;&nbsp; 529066069 |
|  |  | &nbsp;&nbsp; $2583154368 |
| Money Market Funds – 1.5% | Money Market Funds – 1.5% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) | 101069524 | &nbsp;&nbsp; $101089738 |
| **Total Mutual Funds (Identified Cost, $4,279,162,102)** | **Total Mutual Funds (Identified Cost, $4,279,162,102)** | &nbsp;&nbsp; **$6536186220** |
| Other Assets, Less Liabilities – 0.1% |  | &nbsp;&nbsp; 3855361 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$6540041581** |

---

**See Portfolio Footnotes and Notes to Financial Statements**

AAFFS-SEM

------

*Portfolio of Investments (unaudited) – continued*

**MFS Growth Allocation Fund** 

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Mutual Funds (h) – 100.0% | Mutual Funds (h) – 100.0% | Mutual Funds (h) – 100.0% |
| Bond Funds – 19.5% | Bond Funds – 19.5% | Bond Funds – 19.5% |
| MFS Emerging Markets Debt Fund - Class R6 | 15954531 | &nbsp;&nbsp; $202303459 |
| MFS Emerging Markets Debt Local Currency Fund - Class R6 | 22543871 | &nbsp;&nbsp; 134812347 |
| MFS Global Opportunistic Bond Fund - Class R6 | 24205810 | &nbsp;&nbsp; 201150285 |
| MFS High Income Fund - Class R6 | 85722731 | &nbsp;&nbsp; 269169376 |
| MFS Inflation-Adjusted Bond Fund - Class R6 | 36157287 | &nbsp;&nbsp; 334093328 |
| MFS Total Return Bond Fund - Class R6 | 17300282 | &nbsp;&nbsp; 167985735 |
|  |  | &nbsp;&nbsp; $1309514530 |
| International Equity Funds – 20.6% | International Equity Funds – 20.6% | International Equity Funds – 20.6% |
| MFS Emerging Markets Equity Fund - Class R6 | 2988292 | &nbsp;&nbsp; $136236249 |
| MFS International Growth Fund - Class R6 | 4141239 | &nbsp;&nbsp; 206068042 |
| MFS International Intrinsic Value Fund - Class R6 | 4480513 | &nbsp;&nbsp; 210225680 |
| MFS International Large Cap Value Fund - Class R6 | 11901251 | &nbsp;&nbsp; 210057077 |
| MFS International New Discovery Fund - Class R6 | 3946226 | &nbsp;&nbsp; 136855110 |
| MFS Research International Fund - Class R6 | 18126006 | &nbsp;&nbsp; 483964363 |
|  |  | &nbsp;&nbsp; $1383406521 |
| Non-Traditional Funds – 8.0% | Non-Traditional Funds – 8.0% | Non-Traditional Funds – 8.0% |
| MFS Commodity Strategy Fund - Class R6 | 65559408 | &nbsp;&nbsp; $272727139 |
| MFS Global Real Estate Fund - Class R6 | 15961480 | &nbsp;&nbsp; 268472086 |
|  |  | &nbsp;&nbsp; $541199225 |
| U.S. Equity Funds – 50.4% | U.S. Equity Funds – 50.4% | U.S. Equity Funds – 50.4% |
| MFS Growth Fund - Class R6 | 2723330 | &nbsp;&nbsp; $616779705 |
| MFS Mid Cap Growth Fund - Class R6 | 17622647 | &nbsp;&nbsp; 584366993 |
| MFS Mid Cap Value Fund - Class R6 | 18048835 | &nbsp;&nbsp; 609689642 |
| MFS New Discovery Fund - Class R6 (a) | 3876167 | &nbsp;&nbsp; 137410140 |
| MFS New Discovery Value Fund - Class R6 | 7384469 | &nbsp;&nbsp; 133954260 |
| MFS Research Fund - Class R6 | 9596818 | &nbsp;&nbsp; 625808510 |
| MFS Value Fund - Class R6 | 12748325 | &nbsp;&nbsp; 679230736 |
|  |  | &nbsp;&nbsp; $3387239986 |
| Money Market Funds – 1.5% | Money Market Funds – 1.5% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) | 99364381 | &nbsp;&nbsp; $99384254 |
| **Total Mutual Funds (Identified Cost, $3,685,788,090)** | **Total Mutual Funds (Identified Cost, $3,685,788,090)** | &nbsp;&nbsp; **$6720744516** |
| Other Assets, Less Liabilities – 0.0% |  | &nbsp;&nbsp; 2957277 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$6723701793** |

---

**See Portfolio Footnotes and Notes to Financial Statements**

AAFFS-SEM

------

*Portfolio of Investments (unaudited) – continued*

**MFS Aggressive Growth Allocation Fund** 

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Mutual Funds (h) – 100.0% | Mutual Funds (h) – 100.0% | Mutual Funds (h) – 100.0% |
| International Equity Funds – 30.6% | International Equity Funds – 30.6% | International Equity Funds – 30.6% |
| MFS Emerging Markets Equity Fund - Class R6 | 1980653 | &nbsp;&nbsp; $90297965 |
| MFS International Growth Fund - Class R6 | 3031690 | &nbsp;&nbsp; 150856872 |
| MFS International Intrinsic Value Fund - Class R6 | 3267305 | &nbsp;&nbsp; 153301966 |
| MFS International Large Cap Value Fund - Class R6 | 8675993 | &nbsp;&nbsp; 153131277 |
| MFS International New Discovery Fund - Class R6 | 3470803 | &nbsp;&nbsp; 120367451 |
| MFS Research International Fund - Class R6 | 9116247 | &nbsp;&nbsp; 243403807 |
|  |  | &nbsp;&nbsp; $911359338 |
| Non-Traditional Funds – 9.9% | Non-Traditional Funds – 9.9% | Non-Traditional Funds – 9.9% |
| MFS Commodity Strategy Fund - Class R6 | 35922172 | &nbsp;&nbsp; $149436233 |
| MFS Global Real Estate Fund - Class R6 | 8733703 | &nbsp;&nbsp; 146900886 |
|  |  | &nbsp;&nbsp; $296337119 |
| U.S. Equity Funds – 58.5% | U.S. Equity Funds – 58.5% | U.S. Equity Funds – 58.5% |
| MFS Growth Fund - Class R6 | 1478007 | &nbsp;&nbsp; $334739000 |
| MFS Mid Cap Growth Fund - Class R6 | 8730263 | &nbsp;&nbsp; 289495514 |
| MFS Mid Cap Value Fund - Class R6 | 8886577 | &nbsp;&nbsp; 300188566 |
| MFS New Discovery Fund - Class R6 (a) | 2147760 | &nbsp;&nbsp; 76138086 |
| MFS New Discovery Value Fund - Class R6 | 4128640 | &nbsp;&nbsp; 74893524 |
| MFS Research Fund - Class R6 | 4716587 | &nbsp;&nbsp; 307568679 |
| MFS Value Fund - Class R6 | 6733714 | &nbsp;&nbsp; 358772313 |
|  |  | &nbsp;&nbsp; $1741795682 |
| Money Market Funds – 1.0% | Money Market Funds – 1.0% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) | 29854257 | &nbsp;&nbsp; $29860228 |
| **Total Mutual Funds (Identified Cost, $1,453,521,168)** | **Total Mutual Funds (Identified Cost, $1,453,521,168)** | &nbsp;&nbsp; **$2979352367** |
| Other Assets, Less Liabilities – 0.0% |  | &nbsp;&nbsp; 146960 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$2979499327** |

---

Portfolio Footnotes:

(a) Non-income producing security.

(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of each fund's investments in affiliated issuers were as follows:

---

| | |
|:---|:---|
|  | **Affiliated Issuers** |
| MFS Conservative Allocation Fund | $3686916068 |
| MFS Moderate Allocation Fund | 6536186220 |
| MFS Growth Allocation Fund | 6720744516 |
| MFS Aggressive Growth Allocation Fund | 2979352367 |

---

(v) Affiliated issuer that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

**See Notes to Financial Statements**

AAFFS-SEM

------

*Financial Statements*

**Statements of Assets and Liabilities**

At 11/30/25 (unaudited)

These statements represent each fund's balance sheet, which details the assets and liabilities comprising the total value of each fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MFS Conservative** <br>**Allocation Fund**<br>| **MFS Moderate** <br>**Allocation Fund**<br>| **MFS Growth** <br>**Allocation Fund**<br>| **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| **Assets** |  |  |  |  |
| Investments in affiliated issuers, at value (identified cost, <br> $2,846,663,853, $4,279,162,102, $3,685,788,090, and <br> $1,453,521,168, respectively)<br>| $3686916068 | $6536186220 | $6720744516 | $2979352367 |
| Receivables for |  |  |  |  |
| Investments sold | 3004724 | 8767888 | 4846046 | 4011797 |
| Fund shares sold | 12446022 | 4350967 | 5808139 | 3691968 |
| Receivable from investment adviser |  | 43129 | 71221 |  |
| Other assets |  |  | 190 | 452 |
| Total assets | $3702366814 | $6549348204 | $6731470112 | $2987056584 |
| **Liabilities** |  |  |  |  |
| Payables for |  |  |  |  |
| Investments purchased | $10154053 | $1550951 | $2327453 | $1397121 |
| Fund shares reacquired | 2944273 | 6239636 | 3794384 | 5359704 |
| Payable to affiliates |  |  |  |  |
| Administrative services fee | 240 | 240 | 240 | 240 |
| Shareholder servicing costs | 630559 | 1105227 | 1226265 | 578822 |
| Distribution and service fees | 118670 | 226944 | 232452 | 103194 |
| Payable for independent Trustees' compensation | 1511 | 1216 |  |  |
| Accrued expenses and other liabilities | 139787 | 182409 | 187525 | 118176 |
| Total liabilities | $13989093 | $9306623 | $7768319 | $7557257 |
| Net assets | $3688377721 | $6540041581 | $6723701793 | $2979499327 |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | $2864287936 | $4125220480 | $3429222480 | $1327659725 |
| Total distributable earnings (loss) | 824089785 | 2414821101 | 3294479313 | 1651839602 |
| Net assets | $3688377721 | $6540041581 | $6723701793 | $2979499327 |

---

------

*Statements of Assets and Liabilities (unaudited) – continued*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MFS Conservative**<br> **Allocation Fund**<br>| **MFS Moderate**<br> **Allocation Fund**<br>| **MFS Growth**<br> **Allocation Fund**<br>| **MFS Aggressive Growth**<br> **Allocation Fund**<br>|
| Net assets |  |  |  |  |
| Class A | $2629613584 | $5177741830 | $5125481556 | $1856003681 |
| Class B | 4594338 | 9895317 | 13987967 | 7404639 |
| Class C | 170139012 | 279533838 | 332652117 | 240764901 |
| Class I | 366304154 | 405127435 | 399900919 | 276737826 |
| Class R1 | 7303264 | 14860403 | 14725067 | 10899851 |
| Class R2 | 31693555 | 72527408 | 84882208 | 39506816 |
| Class R3 | 58870244 | 117251263 | 97220591 | 74847726 |
| Class R4 | 292020621 | 154946550 | 199482750 | 131896646 |
| Class R6 | 127838949 | 308157537 | 455368618 | 341437241 |
| Total net assets | $3688377721 | $6540041581 | $6723701793 | $2979499327 |
| Shares of beneficial interest outstanding |  |  |  |  |
| Class A | 149910264 | 244114900 | 188676280 | 54676905 |
| Class B | 262469 | 472857 | 515782 | 221880 |
| Class C | 9882396 | 13535361 | 12572449 | 7381674 |
| Class I | 20620644 | 18727070 | 14499444 | 7952053 |
| Class R1 | 436351 | 742888 | 574305 | 340074 |
| Class R2 | 1877197 | 3526034 | 3224685 | 1197711 |
| Class R3 | 3392750 | 5587694 | 3617833 | 2225382 |
| Class R4 | 16627352 | 7313093 | 7334735 | 3859400 |
| Class R6 | 7196003 | 14244473 | 16497049 | 9806405 |
| Total shares of beneficial interest outstanding | 210205426 | 308264370 | 247512562 | 87661484 |
| Class A shares |  |  |  |  |
| Net asset value per share <br>(net assets / shares of beneficial interest outstanding)<br>| $17.54 | $21.21 | $27.17 | $33.94 |
| Offering price per share (100 / 94.25 x net asset value per share) | $18.61 | $22.50 | $28.83 | $36.01 |
| Class B shares |  |  |  |  |
| Net asset value and offering price per share <br>(net assets / shares of beneficial interest outstanding)<br>| $17.50 | $20.93 | $27.12 | $33.37 |
| Class C shares |  |  |  |  |
| Net asset value and offering price per share <br>(net assets / shares of beneficial interest outstanding)<br>| $17.22 | $20.65 | $26.46 | $32.62 |
| Class I shares |  |  |  |  |
| Net asset value, offering price, and redemption price per share <br>(net assets / shares of beneficial interest outstanding)<br>| $17.76 | $21.63 | $27.58 | $34.80 |
| Class R1 shares |  |  |  |  |
| Net asset value, offering price, and redemption price per share <br>(net assets / shares of beneficial interest outstanding)<br>| $16.74 | $20.00 | $25.64 | $32.05 |
| Class R2 shares |  |  |  |  |
| Net asset value, offering price, and redemption price per share <br>(net assets / shares of beneficial interest outstanding)<br>| $16.88 | $20.57 | $26.32 | $32.99 |
| Class R3 shares |  |  |  |  |
| Net asset value, offering price, and redemption price per share <br>(net assets / shares of beneficial interest outstanding)<br>| $17.35 | $20.98 | $26.87 | $33.63 |
| Class R4 shares |  |  |  |  |
| Net asset value, offering price, and redemption price per share <br>(net assets / shares of beneficial interest outstanding)<br>| $17.56 | $21.19 | $27.20 | $34.18 |

---

------

*Statements of Assets and Liabilities (unaudited) – continued*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MFS Conservative**<br> **Allocation Fund**<br>| **MFS Moderate**<br> **Allocation Fund**<br>| **MFS Growth**<br> **Allocation Fund**<br>| **MFS Aggressive Growth**<br> **Allocation Fund**<br>|
| Class R6 shares |  |  |  |  |
| Net asset value, offering price, and redemption price per share <br>(net assets / shares of beneficial interest outstanding)<br>| $17.77 | $21.63 | $27.60 | $34.82 |
| On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions <br> of Class A, Class B, and Class C shares. | On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions <br> of Class A, Class B, and Class C shares. | On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions <br> of Class A, Class B, and Class C shares. | On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions <br> of Class A, Class B, and Class C shares. | On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions <br> of Class A, Class B, and Class C shares. |

---

**See Notes to Financial Statements**

------

*Financial Statements*

**Statements of Operations**

Six months ended 11/30/25 (unaudited)

These statements describe how much each fund earned in investment income and accrued in expenses. They also describe any gains or losses generated by each fund's operations.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MFS Conservative** <br>**Allocation Fund**<br>| **MFS Moderate** <br>**Allocation Fund**<br>| **MFS Growth** <br>**Allocation Fund**<br>| **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| **Net investment income (loss)** |  |  |  |  |
| Dividends from affiliated issuers | $52292455 | $63383156 | $38669103 | $4052528 |
| Expenses |  |  |  |  |
| Distribution and service fees | $4393959 | $8376706 | $8558848 | $3796794 |
| Shareholder servicing costs | 1374150 | 2555208 | 2854618 | 1379398 |
| Administrative services fee | 8775 | 8775 | 8775 | 8775 |
| Independent Trustees' compensation | 39764 | 68156 | 68153 | 30297 |
| Custodian fee | 36711 | 55331 | 50389 | 24785 |
| Shareholder communications | 46572 | 83458 | 103485 | 49783 |
| Audit and tax fees | 24904 | 25516 | 24711 | 24634 |
| Legal fees | 9360 | 16544 | 16604 | 7255 |
| Miscellaneous | 135806 | 160404 | 157959 | 118867 |
| Total expenses | $6070001 | $11350098 | $11843542 | $5440588 |
| Reduction of expenses by investment adviser and distributor | (437)<br>| (274447)<br>| (453014)<br>| (4889)<br>|
| Net expenses | $6069564 | $11075651 | $11390528 | $5435699 |
| Net investment income (loss) | $46222891 | $52307505 | $27278575 | $(1383171)<br>|
| **Realized and unrealized gain (loss)** |  |  |  |  |
| Realized gain (loss) (identified cost basis) |  |  |  |  |
| Investments in affiliated issuers | $1569597 | $55673173 | $48361951 | $12284772 |
| Capital gain distributions from affiliated issuers | 4735599 | 11768827 | 15580210 | 8651150 |
| Net realized gain (loss) | $6305196 | $67442000 | $63942161 | $20935922 |
| Change in unrealized appreciation or depreciation |  |  |  |  |
| Affiliated issuers | $163514151 | $330909526 | $423243458 | $227775214 |
| Net realized and unrealized gain (loss) | $169819347 | $398351526 | $487185619 | $248711136 |
| Change in net assets from operations | $216042238 | $450659031 | $514464194 | $247327965 |

---

**See Notes to Financial Statements**

------

*Financial Statements*

**Statements of Changes in Net Assets**

These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Six months ended 11/30/25 (unaudited)** | **MFS Conservative** <br>**Allocation Fund**<br>| **MFS Moderate** <br>**Allocation Fund**<br>| **MFS Growth** <br>**Allocation Fund**<br>| **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| **Change in net assets** |  |  |  |  |
| **From operations** |  |  |  |  |
| Net investment income (loss) | $46222891 | $52307505 | $27278575 | $(1383171)<br>|
| Net realized gain (loss) | 6305196 | 67442000 | 63942161 | 20935922 |
| Net unrealized gain (loss) | 163514151 | 330909526 | 423243458 | 227775214 |
| Change in net assets from operations | $216042238 | $450659031 | $514464194 | $247327965 |
| Total distributions to shareholders | $(43548486)<br>| $(48930763)<br>| $— | $— |
| Change in net assets from fund share transactions | $(136256198)<br>| $(272492786)<br>| $(279053309)<br>| $(128497000)<br>|
| Total change in net assets | $36237554 | $129235482 | $235410885 | $118830965 |
| **Net assets** |  |  |  |  |
| At beginning of period | 3652140167 | 6410806099 | 6488290908 | 2860668362 |
| At end of period | $3688377721 | $6540041581 | $6723701793 | $2979499327 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Year ended 5/31/25** | **MFS Conservative** <br>**Allocation Fund**<br>| **MFS Moderate** <br>**Allocation Fund**<br>| **MFS Growth** <br>**Allocation Fund**<br>| **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| **Change in net assets** |  |  |  |  |
| **From operations** |  |  |  |  |
| Net investment income (loss) | $111424455 | $160890320 | $128225764 | $36887487 |
| Net realized gain (loss) | 120865574 | 318254246 | 372839065 | 180987905 |
| Net unrealized gain (loss) | 22874201 | 44772127 | 63401629 | 41335851 |
| Change in net assets from operations | $255164230 | $523916693 | $564466458 | $259211243 |
| Total distributions to shareholders | $(244424555)<br>| $(432398392)<br>| $(372077446)<br>| $(134061228)<br>|
| Change in net assets from fund share transactions | $(118385306)<br>| $(311478667)<br>| $(246522002)<br>| $(57162528)<br>|
| Total change in net assets | $(107645631)<br>| $(219960366)<br>| $(54132990)<br>| $67987487 |
| **Net assets** |  |  |  |  |
| At beginning of period | 3759785798 | 6630766465 | 6542423898 | 2792680875 |
| At end of period | $3652140167 | $6410806099 | $6488290908 | $2860668362 |

---

**See Notes to Financial Statements**

------

*Financial Statements*

**Financial Highlights**

**MFS Conservative Allocation Fund**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years (or life of a particular share class, if shorter). Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class A** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $16.74 | &nbsp;&nbsp; $16.71 | &nbsp;&nbsp; $15.71 | &nbsp;&nbsp; $16.53 | &nbsp;&nbsp; $18.19 | &nbsp;&nbsp; $15.98 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.21 | &nbsp;&nbsp; $0.50 | &nbsp;&nbsp; $0.46 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.51 | &nbsp;&nbsp; $0.26 |
| Net realized and unrealized gain (loss) | 0.79 | &nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp; (0.70)<br>| &nbsp;&nbsp; (1.50)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.43 |
| Total from investment operations | $1.00 | &nbsp;&nbsp; $1.16 | &nbsp;&nbsp; $1.56 | &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.99)<br>| &nbsp;&nbsp; $2.69 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.20)<br>| &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(0.27)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.21)<br>|
| Total distributions declared to shareholders | $(0.20)<br>| &nbsp;&nbsp; $(1.13)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(0.67)<br>| &nbsp;&nbsp; $(0.48)<br>|
| Net asset value, end of period (x) | $17.54 | &nbsp;&nbsp; $16.74 | &nbsp;&nbsp; $16.71 | &nbsp;&nbsp; $15.71 | &nbsp;&nbsp; $16.53 | &nbsp;&nbsp; $18.19 |
| Total return (%) (r)(s)(t)(x) | 6.02<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.09 | &nbsp;&nbsp;&nbsp;&nbsp;10.05 | &nbsp;&nbsp; (1.61)<br>| &nbsp;&nbsp; (5.80)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.04 |
| **Ratios (%) (to average net assets) and Supplemental** <br> **data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.34<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.32 |
| Expenses after expense reductions (h) | 0.34<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.32 |
| Net investment income (loss) (l) | 2.48<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.98 | &nbsp;&nbsp;&nbsp;&nbsp;2.82 | &nbsp;&nbsp;&nbsp;&nbsp;2.67 | &nbsp;&nbsp;&nbsp;&nbsp;2.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.51 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 6 |
| Net assets at end of period (000 omitted) | $2629614 | &nbsp;&nbsp; $2584127 | &nbsp;&nbsp; $2634559 | &nbsp;&nbsp; $2605100 | &nbsp;&nbsp; $2760128 | &nbsp;&nbsp; $2471451 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Conservative Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class B** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $16.70 | &nbsp;&nbsp; $16.65 | &nbsp;&nbsp; $15.65 | &nbsp;&nbsp; $16.44 | &nbsp;&nbsp; $18.09 | &nbsp;&nbsp; $15.89 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.15 | &nbsp;&nbsp; $0.38 | &nbsp;&nbsp; $0.34 | &nbsp;&nbsp; $0.30 | &nbsp;&nbsp; $0.36 | &nbsp;&nbsp; $0.13 |
| Net realized and unrealized gain (loss) | 0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp; (0.69)<br>| &nbsp;&nbsp; (1.49)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.42 |
| Total from investment operations | $0.93 | &nbsp;&nbsp; $1.03 | &nbsp;&nbsp; $1.43 | &nbsp;&nbsp; $(0.39)<br>| &nbsp;&nbsp; $(1.13)<br>| &nbsp;&nbsp; $2.55 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.13)<br>| &nbsp;&nbsp; $(0.37)<br>| &nbsp;&nbsp; $(0.31)<br>| &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(0.14)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.21)<br>|
| Total distributions declared to shareholders | $(0.13)<br>| &nbsp;&nbsp; $(0.98)<br>| &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(0.35)<br>|
| Net asset value, end of period (x) | $17.50 | &nbsp;&nbsp; $16.70 | &nbsp;&nbsp; $16.65 | &nbsp;&nbsp; $15.65 | &nbsp;&nbsp; $16.44 | &nbsp;&nbsp; $18.09 |
| Total return (%) (r)(s)(t)(x) | 5.60<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.30 | &nbsp;&nbsp;&nbsp;&nbsp;9.18 | &nbsp;&nbsp; (2.27)<br>| &nbsp;&nbsp; (6.53)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.12 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 |
| Expenses after expense reductions (h) | N/A | N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 |
| Net investment income (loss) (l) | 1.74<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.26 | &nbsp;&nbsp;&nbsp;&nbsp;2.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.93 | &nbsp;&nbsp;&nbsp;&nbsp;2.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 6 |
| Net assets at end of period (000 omitted) | $4594 | &nbsp;&nbsp; $5633 | &nbsp;&nbsp; $10641 | &nbsp;&nbsp; $17274 | &nbsp;&nbsp; $28023 | &nbsp;&nbsp; $45913 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class C** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $16.43 | &nbsp;&nbsp; $16.42 | &nbsp;&nbsp; $15.44 | &nbsp;&nbsp; $16.24 | &nbsp;&nbsp; $17.88 | &nbsp;&nbsp; $15.71 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.15 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $0.33 | &nbsp;&nbsp; $0.30 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $0.14 |
| Net realized and unrealized gain (loss) | 0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp; (0.69)<br>| &nbsp;&nbsp; (1.48)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.38 |
| Total from investment operations | $0.93 | &nbsp;&nbsp; $1.01 | &nbsp;&nbsp; $1.42 | &nbsp;&nbsp; $(0.39)<br>| &nbsp;&nbsp; $(1.11)<br>| &nbsp;&nbsp; $2.52 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.14)<br>| &nbsp;&nbsp; $(0.39)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(0.29)<br>| &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(0.14)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.21)<br>|
| Total distributions declared to shareholders | $(0.14)<br>| &nbsp;&nbsp; $(1.00)<br>| &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(0.35)<br>|
| Net asset value, end of period (x) | $17.22 | &nbsp;&nbsp; $16.43 | &nbsp;&nbsp; $16.42 | &nbsp;&nbsp; $15.44 | &nbsp;&nbsp; $16.24 | &nbsp;&nbsp; $17.88 |
| Total return (%) (r)(s)(t)(x) | 5.66<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.25 | &nbsp;&nbsp;&nbsp;&nbsp;9.24 | &nbsp;&nbsp; (2.31)<br>| &nbsp;&nbsp; (6.50)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.15 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 |
| Expenses after expense reductions (h) | 1.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | N/A | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 |
| Net investment income (loss) (l) | 1.74<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.25 | &nbsp;&nbsp;&nbsp;&nbsp;2.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.92 | &nbsp;&nbsp;&nbsp;&nbsp;2.07 | &nbsp;&nbsp;&nbsp;&nbsp;0.80 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 6 |
| Net assets at end of period (000 omitted) | $170139 | &nbsp;&nbsp; $184123 | &nbsp;&nbsp; $230461 | &nbsp;&nbsp; $282608 | &nbsp;&nbsp; $392290 | &nbsp;&nbsp; $484043 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Conservative Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class I** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $16.95 | &nbsp;&nbsp; $16.91 | &nbsp;&nbsp; $15.89 | &nbsp;&nbsp; $16.71 | &nbsp;&nbsp; $18.38 | &nbsp;&nbsp; $16.14 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.24 | &nbsp;&nbsp; $0.55 | &nbsp;&nbsp; $0.50 | &nbsp;&nbsp; $0.46 | &nbsp;&nbsp; $0.55 | &nbsp;&nbsp; $0.31 |
| Net realized and unrealized gain (loss) | 0.79 | &nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp; (0.71)<br>| &nbsp;&nbsp; (1.51)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.45 |
| Total from investment operations | $1.03 | &nbsp;&nbsp; $1.21 | &nbsp;&nbsp; $1.62 | &nbsp;&nbsp; $(0.25)<br>| &nbsp;&nbsp; $(0.96)<br>| &nbsp;&nbsp; $2.76 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.22)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $(0.31)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.21)<br>|
| Total distributions declared to shareholders | $(0.22)<br>| &nbsp;&nbsp; $(1.17)<br>| &nbsp;&nbsp; $(0.60)<br>| &nbsp;&nbsp; $(0.57)<br>| &nbsp;&nbsp; $(0.71)<br>| &nbsp;&nbsp; $(0.52)<br>|
| Net asset value, end of period (x) | $17.76 | &nbsp;&nbsp; $16.95 | &nbsp;&nbsp; $16.91 | &nbsp;&nbsp; $15.89 | &nbsp;&nbsp; $16.71 | &nbsp;&nbsp; $18.38 |
| Total return (%) (r)(s)(t)(x) | 6.13<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.33 | &nbsp;&nbsp;&nbsp;&nbsp;10.34 | &nbsp;&nbsp; (1.34)<br>| &nbsp;&nbsp; (5.57)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.32 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.07 |
| Expenses after expense reductions (h) | N/A | N/A | N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | N/A |
| Net investment income (loss) (l) | 2.73<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.23 | &nbsp;&nbsp;&nbsp;&nbsp;3.07 | &nbsp;&nbsp;&nbsp;&nbsp;2.91 | &nbsp;&nbsp;&nbsp;&nbsp;3.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.79 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 6 |
| Net assets at end of period (000 omitted) | $366304 | &nbsp;&nbsp; $362951 | &nbsp;&nbsp; $389407 | &nbsp;&nbsp; $400796 | &nbsp;&nbsp; $508191 | &nbsp;&nbsp; $519688 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R1** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $15.98 | &nbsp;&nbsp; $16.00 | &nbsp;&nbsp; $15.06 | &nbsp;&nbsp; $15.87 | &nbsp;&nbsp; $17.49 | &nbsp;&nbsp; $15.38 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.14 | &nbsp;&nbsp; $0.36 | &nbsp;&nbsp; $0.32 | &nbsp;&nbsp; $0.29 | &nbsp;&nbsp; $0.35 | &nbsp;&nbsp; $0.13 |
| Net realized and unrealized gain (loss) | 0.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp; (0.68)<br>| &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.34 |
| Total from investment operations | $0.90 | &nbsp;&nbsp; $0.98 | &nbsp;&nbsp; $1.39 | &nbsp;&nbsp; $(0.39)<br>| &nbsp;&nbsp; $(1.09)<br>| &nbsp;&nbsp; $2.47 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.14)<br>| &nbsp;&nbsp; $(0.39)<br>| &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(0.15)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.21)<br>|
| Total distributions declared to shareholders | $(0.14)<br>| &nbsp;&nbsp; $(1.00)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(0.36)<br>|
| Net asset value, end of period (x) | $16.74 | &nbsp;&nbsp; $15.98 | &nbsp;&nbsp; $16.00 | &nbsp;&nbsp; $15.06 | &nbsp;&nbsp; $15.87 | &nbsp;&nbsp; $17.49 |
| Total return (%) (r)(s)(t)(x) | 5.65<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.26 | &nbsp;&nbsp;&nbsp;&nbsp;9.28 | &nbsp;&nbsp; (2.38)<br>| &nbsp;&nbsp; (6.51)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.18 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 |
| Expenses after expense reductions (h) | N/A | N/A | N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | N/A |
| Net investment income (loss) (l) | 1.73<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.24 | &nbsp;&nbsp;&nbsp;&nbsp;2.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;2.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 6 |
| Net assets at end of period (000 omitted) | $7303 | &nbsp;&nbsp; $7330 | &nbsp;&nbsp; $8754 | &nbsp;&nbsp; $9884 | &nbsp;&nbsp; $11188 | &nbsp;&nbsp; $13269 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Conservative Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R2** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $16.12 | &nbsp;&nbsp; $16.13 | &nbsp;&nbsp; $15.19 | &nbsp;&nbsp; $15.99 | &nbsp;&nbsp; $17.62 | &nbsp;&nbsp; $15.49 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.19 | &nbsp;&nbsp; $0.45 | &nbsp;&nbsp; $0.40 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $0.44 | &nbsp;&nbsp; $0.21 |
| Net realized and unrealized gain (loss) | 0.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp; (0.67)<br>| &nbsp;&nbsp; (1.45)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.36 |
| Total from investment operations | $0.94 | &nbsp;&nbsp; $1.07 | &nbsp;&nbsp; $1.46 | &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(1.01)<br>| &nbsp;&nbsp; $2.57 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.18)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.38)<br>| &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.23)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.21)<br>|
| Total distributions declared to shareholders | $(0.18)<br>| &nbsp;&nbsp; $(1.08)<br>| &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(0.62)<br>| &nbsp;&nbsp; $(0.44)<br>|
| Net asset value, end of period (x) | $16.88 | &nbsp;&nbsp; $16.12 | &nbsp;&nbsp; $16.13 | &nbsp;&nbsp; $15.19 | &nbsp;&nbsp; $15.99 | &nbsp;&nbsp; $17.62 |
| Total return (%) (r)(s)(t)(x) | 5.88<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.83 | &nbsp;&nbsp;&nbsp;&nbsp;9.73 | &nbsp;&nbsp; (1.79)<br>| &nbsp;&nbsp; (6.06)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.75 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.59<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.57 |
| Expenses after expense reductions (h) | N/A | N/A | N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | N/A |
| Net investment income (loss) (l) | 2.23<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.74 | &nbsp;&nbsp;&nbsp;&nbsp;2.58 | &nbsp;&nbsp;&nbsp;&nbsp;2.42 | &nbsp;&nbsp;&nbsp;&nbsp;2.55 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 6 |
| Net assets at end of period (000 omitted) | $31694 | &nbsp;&nbsp; $31969 | &nbsp;&nbsp; $39250 | &nbsp;&nbsp; $42000 | &nbsp;&nbsp; $48041 | &nbsp;&nbsp; $54728 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R3** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $16.56 | &nbsp;&nbsp; $16.54 | &nbsp;&nbsp; $15.56 | &nbsp;&nbsp; $16.37 | &nbsp;&nbsp; $18.02 | &nbsp;&nbsp; $15.84 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.21 | &nbsp;&nbsp; $0.50 | &nbsp;&nbsp; $0.45 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.51 | &nbsp;&nbsp; $0.26 |
| Net realized and unrealized gain (loss) | 0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp; (0.70)<br>| &nbsp;&nbsp; (1.50)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.40 |
| Total from investment operations | $0.99 | &nbsp;&nbsp; $1.15 | &nbsp;&nbsp; $1.54 | &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.99)<br>| &nbsp;&nbsp; $2.66 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.20)<br>| &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(0.46)<br>| &nbsp;&nbsp; $(0.27)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.21)<br>|
| Total distributions declared to shareholders | $(0.20)<br>| &nbsp;&nbsp; $(1.13)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(0.66)<br>| &nbsp;&nbsp; $(0.48)<br>|
| Net asset value, end of period (x) | $17.35 | &nbsp;&nbsp; $16.56 | &nbsp;&nbsp; $16.54 | &nbsp;&nbsp; $15.56 | &nbsp;&nbsp; $16.37 | &nbsp;&nbsp; $18.02 |
| Total return (%) (r)(s)(t)(x) | 6.02<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.10 | &nbsp;&nbsp;&nbsp;&nbsp;10.01 | &nbsp;&nbsp; (1.57)<br>| &nbsp;&nbsp; (5.81)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.98 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.34<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.32 |
| Expenses after expense reductions (h) | N/A | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | N/A | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | N/A |
| Net investment income (loss) (l) | 2.48<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.98 | &nbsp;&nbsp;&nbsp;&nbsp;2.81 | &nbsp;&nbsp;&nbsp;&nbsp;2.67 | &nbsp;&nbsp;&nbsp;&nbsp;2.84 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 6 |
| Net assets at end of period (000 omitted) | $58870 | &nbsp;&nbsp; $58410 | &nbsp;&nbsp; $67619 | &nbsp;&nbsp; $77250 | &nbsp;&nbsp; $91528 | &nbsp;&nbsp; $109177 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Conservative Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R4** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $16.76 | &nbsp;&nbsp; $16.73 | &nbsp;&nbsp; $15.73 | &nbsp;&nbsp; $16.55 | &nbsp;&nbsp; $18.21 | &nbsp;&nbsp; $15.99 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.24 | &nbsp;&nbsp; $0.54 | &nbsp;&nbsp; $0.50 | &nbsp;&nbsp; $0.45 | &nbsp;&nbsp; $0.54 | &nbsp;&nbsp; $0.31 |
| Net realized and unrealized gain (loss) | 0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp; (0.69)<br>| &nbsp;&nbsp; (1.49)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.43 |
| Total from investment operations | $1.02 | &nbsp;&nbsp; $1.20 | &nbsp;&nbsp; $1.60 | &nbsp;&nbsp; $(0.24)<br>| &nbsp;&nbsp; $(0.95)<br>| &nbsp;&nbsp; $2.74 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.22)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(0.46)<br>| &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $(0.31)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.21)<br>|
| Total distributions declared to shareholders | $(0.22)<br>| &nbsp;&nbsp; $(1.17)<br>| &nbsp;&nbsp; $(0.60)<br>| &nbsp;&nbsp; $(0.58)<br>| &nbsp;&nbsp; $(0.71)<br>| &nbsp;&nbsp; $(0.52)<br>|
| Net asset value, end of period (x) | $17.56 | &nbsp;&nbsp; $16.76 | &nbsp;&nbsp; $16.73 | &nbsp;&nbsp; $15.73 | &nbsp;&nbsp; $16.55 | &nbsp;&nbsp; $18.21 |
| Total return (%) (r)(s)(t)(x) | 6.14<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.35 | &nbsp;&nbsp;&nbsp;&nbsp;10.32 | &nbsp;&nbsp; (1.35)<br>| &nbsp;&nbsp; (5.57)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.36 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.07 |
| Expenses after expense reductions (h) | N/A | N/A | N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | N/A |
| Net investment income (loss) (l) | 2.73<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.21 | &nbsp;&nbsp;&nbsp;&nbsp;3.07 | &nbsp;&nbsp;&nbsp;&nbsp;2.89 | &nbsp;&nbsp;&nbsp;&nbsp;3.00 | &nbsp;&nbsp;&nbsp;&nbsp;1.77 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 6 |
| Net assets at end of period (000 omitted) | $292021 | &nbsp;&nbsp; $299268 | &nbsp;&nbsp; $275572 | &nbsp;&nbsp; $279463 | &nbsp;&nbsp; $267840 | &nbsp;&nbsp; $269196 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R6** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22(i)** |
| Net asset value, beginning of period | $16.95 | &nbsp;&nbsp; $16.91 | &nbsp;&nbsp; $15.89 | &nbsp;&nbsp; $16.71 | &nbsp;&nbsp; $18.54 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.24 | &nbsp;&nbsp; $0.56 | &nbsp;&nbsp; $0.51 | &nbsp;&nbsp; $0.47 | &nbsp;&nbsp; $0.16 |
| Net realized and unrealized gain (loss) | 0.81 | &nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp; (0.70)<br>| &nbsp;&nbsp; (1.39)<br>|
| Total from investment operations | $1.05 | &nbsp;&nbsp; $1.22 | &nbsp;&nbsp; $1.63 | &nbsp;&nbsp; $(0.23)<br>| &nbsp;&nbsp; $(1.23)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.23)<br>| &nbsp;&nbsp; $(0.57)<br>| &nbsp;&nbsp; $(0.49)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(0.40)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.20)<br>|
| Total distributions declared to shareholders | $(0.23)<br>| &nbsp;&nbsp; $(1.18)<br>| &nbsp;&nbsp; $(0.61)<br>| &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(0.60)<br>|
| Net asset value, end of period (x) | $17.77 | &nbsp;&nbsp; $16.95 | &nbsp;&nbsp; $16.91 | &nbsp;&nbsp; $15.89 | &nbsp;&nbsp; $16.71 |
| Total return (%) (r)(s)(t)(x) | 6.23<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.40 | &nbsp;&nbsp;&nbsp;&nbsp;10.41 | &nbsp;&nbsp; (1.27)<br>| &nbsp;&nbsp; (6.95)(n)<br>|
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.03<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp; 0.04<br> (a)<br>|
| Expenses after expense reductions (h) | N/A | N/A | N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> (a)<br>|
| Net investment income (loss) (l) | 2.79<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.29 | &nbsp;&nbsp;&nbsp;&nbsp;3.14 | &nbsp;&nbsp;&nbsp;&nbsp;2.95 | &nbsp;&nbsp;&nbsp;&nbsp; 1.44<br> (a)<br>|
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 |
| Net assets at end of period (000 omitted) | $127839 | &nbsp;&nbsp; $118328 | &nbsp;&nbsp; $103522 | &nbsp;&nbsp; $85950 | &nbsp;&nbsp; $66370 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Conservative Allocation Fund - continued**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(h) In addition to the fees and expenses which the fund bears directly, the fund indirectly
 bears a pro rata share of the fees and expenses of the underlying affiliated funds in which the fund invests. Accordingly, the expense ratio for the
 fund reflects only those fees and expenses borne directly by the fund. Because the underlying affiliated funds have varied expense and fee levels and the fund may
 own different proportions of the underlying affiliated funds at different times, the amount of fees and expenses incurred indirectly by the fund will vary.

&nbsp;&nbsp;&nbsp;&nbsp;(i) For Class R6, the period is from the class inception, September 30, 2021, through
 the stated period end.

&nbsp;&nbsp;&nbsp;&nbsp;(l) Recognition of net investment income by the fund may be affected by the timing of
 the declaration of dividends by the underlying affiliated funds in which the fund invests and for interim net investment income ratios, the actual annual net
 investment income ratio may differ. The ratios and per share amounts do not include net investment income of the underlying affiliated funds in which the
 fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Moderate Allocation Fund**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years (or life of a particular share class, if shorter). Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class A** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $19.94 | &nbsp;&nbsp; $19.69 | &nbsp;&nbsp; $18.07 | &nbsp;&nbsp; $19.22 | &nbsp;&nbsp; $21.57 | &nbsp;&nbsp; $18.02 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.17 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.43 | &nbsp;&nbsp; $0.44 | &nbsp;&nbsp; $0.63 | &nbsp;&nbsp; $0.25 |
| Net realized and unrealized gain (loss) | 1.26 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.97 | &nbsp;&nbsp; (0.85)<br>| &nbsp;&nbsp; (1.79)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.04 |
| Total from investment operations | $1.43 | &nbsp;&nbsp; $1.59 | &nbsp;&nbsp; $2.40 | &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(1.16)<br>| &nbsp;&nbsp; $4.29 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.16)<br>| &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.61)<br>| &nbsp;&nbsp; $(0.24)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; (0.50)<br>|
| Total distributions declared to shareholders | $(0.16)<br>| &nbsp;&nbsp; $(1.34)<br>| &nbsp;&nbsp; $(0.78)<br>| &nbsp;&nbsp; $(0.74)<br>| &nbsp;&nbsp; $(1.19)<br>| &nbsp;&nbsp; $(0.74)<br>|
| Net asset value, end of period (x) | $21.21 | &nbsp;&nbsp; $19.94 | &nbsp;&nbsp; $19.69 | &nbsp;&nbsp; $18.07 | &nbsp;&nbsp; $19.22 | &nbsp;&nbsp; $21.57 |
| Total return (%) (r)(s)(t)(x) | 7.17<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.30 | &nbsp;&nbsp;&nbsp;&nbsp;13.48 | &nbsp;&nbsp; (1.99)<br>| &nbsp;&nbsp; (5.96)<br>| &nbsp;&nbsp;&nbsp;&nbsp;24.18 |
| **Ratios (%) (to average net assets) and Supplemental** <br> **data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.34<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.33 |
| Expenses after expense reductions (h) | 0.34<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.33 |
| Net investment income (loss) (l) | 1.60<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.45 | &nbsp;&nbsp;&nbsp;&nbsp;2.28 | &nbsp;&nbsp;&nbsp;&nbsp;2.44 | &nbsp;&nbsp;&nbsp;&nbsp;2.99 | &nbsp;&nbsp;&nbsp;&nbsp;1.23 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $5177742 | &nbsp;&nbsp; $5024225 | &nbsp;&nbsp; $5030342 | &nbsp;&nbsp; $4676731 | &nbsp;&nbsp; $4812425 | &nbsp;&nbsp; $4687031 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Moderate Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class B** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $19.67 | &nbsp;&nbsp; $19.42 | &nbsp;&nbsp; $17.81 | &nbsp;&nbsp; $18.93 | &nbsp;&nbsp; $21.28 | &nbsp;&nbsp; $17.79 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.09 | &nbsp;&nbsp; $0.34 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.31 | &nbsp;&nbsp; $0.46 | &nbsp;&nbsp; $0.10 |
| Net realized and unrealized gain (loss) | 1.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp; (1.76)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.99 |
| Total from investment operations | $1.33 | &nbsp;&nbsp; $1.42 | &nbsp;&nbsp; $2.23 | &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(1.30)<br>| &nbsp;&nbsp; $4.09 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.07)<br>| &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(0.26)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(0.10)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; (0.50)<br>|
| Total distributions declared to shareholders | $(0.07)<br>| &nbsp;&nbsp; $(1.17)<br>| &nbsp;&nbsp; $(0.62)<br>| &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(1.05)<br>| &nbsp;&nbsp; $(0.60)<br>|
| Net asset value, end of period (x) | $20.93 | &nbsp;&nbsp; $19.67 | &nbsp;&nbsp; $19.42 | &nbsp;&nbsp; $17.81 | &nbsp;&nbsp; $18.93 | &nbsp;&nbsp; $21.28 |
| Total return (%) (r)(s)(t)(x) | 6.75<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.48 | &nbsp;&nbsp;&nbsp;&nbsp;12.67 | &nbsp;&nbsp; (2.69)<br>| &nbsp;&nbsp; (6.67)<br>| &nbsp;&nbsp;&nbsp;&nbsp;23.24 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 |
| Expenses after expense reductions (h) | 1.08<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 |
| Net investment income (loss) (l) | 0.86<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.75 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;2.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.50 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $9895 | &nbsp;&nbsp; $13652 | &nbsp;&nbsp; $26965 | &nbsp;&nbsp; $43399 | &nbsp;&nbsp; $69914 | &nbsp;&nbsp; $116059 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class C** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $19.42 | &nbsp;&nbsp; $19.21 | &nbsp;&nbsp; $17.64 | &nbsp;&nbsp; $18.76 | &nbsp;&nbsp; $21.10 | &nbsp;&nbsp; $17.65 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.09 | &nbsp;&nbsp; $0.33 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.30 | &nbsp;&nbsp; $0.46 | &nbsp;&nbsp; $0.10 |
| Net realized and unrealized gain (loss) | 1.22 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;1.92 | &nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.95 |
| Total from investment operations | $1.31 | &nbsp;&nbsp; $1.40 | &nbsp;&nbsp; $2.20 | &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(1.29)<br>| &nbsp;&nbsp; $4.05 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.08)<br>| &nbsp;&nbsp; $(0.35)<br>| &nbsp;&nbsp; $(0.27)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(0.10)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; (0.50)<br>|
| Total distributions declared to shareholders | $(0.08)<br>| &nbsp;&nbsp; $(1.19)<br>| &nbsp;&nbsp; $(0.63)<br>| &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(1.05)<br>| &nbsp;&nbsp; $(0.60)<br>|
| Net asset value, end of period (x) | $20.65 | &nbsp;&nbsp; $19.42 | &nbsp;&nbsp; $19.21 | &nbsp;&nbsp; $17.64 | &nbsp;&nbsp; $18.76 | &nbsp;&nbsp; $21.10 |
| Total return (%) (r)(s)(t)(x) | 6.75<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.46 | &nbsp;&nbsp;&nbsp;&nbsp;12.64 | &nbsp;&nbsp; (2.67)<br>| &nbsp;&nbsp; (6.66)<br>| &nbsp;&nbsp;&nbsp;&nbsp;23.19 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 |
| Expenses after expense reductions (h) | 1.08<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 |
| Net investment income (loss) (l) | 0.85<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;2.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $279534 | &nbsp;&nbsp; $291163 | &nbsp;&nbsp; $357049 | &nbsp;&nbsp; $403805 | &nbsp;&nbsp; $537508 | &nbsp;&nbsp; $721781 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Moderate Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class I** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $20.34 | &nbsp;&nbsp; $20.06 | &nbsp;&nbsp; $18.39 | &nbsp;&nbsp; $19.55 | &nbsp;&nbsp; $21.91 | &nbsp;&nbsp; $18.29 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.20 | &nbsp;&nbsp; $0.55 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.50 | &nbsp;&nbsp; $0.70 | &nbsp;&nbsp; $0.30 |
| Net realized and unrealized gain (loss) | 1.27 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;2.00 | &nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp; (1.82)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.11 |
| Total from investment operations | $1.47 | &nbsp;&nbsp; $1.67 | &nbsp;&nbsp; $2.49 | &nbsp;&nbsp; $(0.38)<br>| &nbsp;&nbsp; $(1.12)<br>| &nbsp;&nbsp; $4.41 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.18)<br>| &nbsp;&nbsp; $(0.55)<br>| &nbsp;&nbsp; $(0.46)<br>| &nbsp;&nbsp; $(0.49)<br>| &nbsp;&nbsp; $(0.66)<br>| &nbsp;&nbsp; $(0.29)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; (0.50)<br>|
| Total distributions declared to shareholders | $(0.18)<br>| &nbsp;&nbsp; $(1.39)<br>| &nbsp;&nbsp; $(0.82)<br>| &nbsp;&nbsp; $(0.78)<br>| &nbsp;&nbsp; $(1.24)<br>| &nbsp;&nbsp; $(0.79)<br>|
| Net asset value, end of period (x) | $21.63 | &nbsp;&nbsp; $20.34 | &nbsp;&nbsp; $20.06 | &nbsp;&nbsp; $18.39 | &nbsp;&nbsp; $19.55 | &nbsp;&nbsp; $21.91 |
| Total return (%) (r)(s)(t)(x) | 7.26<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.57 | &nbsp;&nbsp;&nbsp;&nbsp;13.79 | &nbsp;&nbsp; (1.76)<br>| &nbsp;&nbsp; (5.69)<br>| &nbsp;&nbsp;&nbsp;&nbsp;24.49 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.08 |
| Expenses after expense reductions (h) | 0.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | N/A |
| Net investment income (loss) (l) | 1.85<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.70 | &nbsp;&nbsp;&nbsp;&nbsp;2.53 | &nbsp;&nbsp;&nbsp;&nbsp;2.69 | &nbsp;&nbsp;&nbsp;&nbsp;3.26 | &nbsp;&nbsp;&nbsp;&nbsp;1.50 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $405127 | &nbsp;&nbsp; $387346 | &nbsp;&nbsp; $422766 | &nbsp;&nbsp; $416670 | &nbsp;&nbsp; $448966 | &nbsp;&nbsp; $476798 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R1** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $18.82 | &nbsp;&nbsp; $18.65 | &nbsp;&nbsp; $17.15 | &nbsp;&nbsp; $18.27 | &nbsp;&nbsp; $20.58 | &nbsp;&nbsp; $17.23 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.08 | &nbsp;&nbsp; $0.31 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.29 | &nbsp;&nbsp; $0.45 | &nbsp;&nbsp; $0.09 |
| Net realized and unrealized gain (loss) | 1.18 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.86 | &nbsp;&nbsp; (0.81)<br>| &nbsp;&nbsp; (1.70)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.87 |
| Total from investment operations | $1.26 | &nbsp;&nbsp; $1.37 | &nbsp;&nbsp; $2.14 | &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(1.25)<br>| &nbsp;&nbsp; $3.96 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.08)<br>| &nbsp;&nbsp; $(0.36)<br>| &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.31)<br>| &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(0.11)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; (0.50)<br>|
| Total distributions declared to shareholders | $(0.08)<br>| &nbsp;&nbsp; $(1.20)<br>| &nbsp;&nbsp; $(0.64)<br>| &nbsp;&nbsp; $(0.60)<br>| &nbsp;&nbsp; $(1.06)<br>| &nbsp;&nbsp; $(0.61)<br>|
| Net asset value, end of period (x) | $20.00 | &nbsp;&nbsp; $18.82 | &nbsp;&nbsp; $18.65 | &nbsp;&nbsp; $17.15 | &nbsp;&nbsp; $18.27 | &nbsp;&nbsp; $20.58 |
| Total return (%) (r)(s)(t)(x) | 6.72<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.50 | &nbsp;&nbsp;&nbsp;&nbsp;12.65 | &nbsp;&nbsp; (2.70)<br>| &nbsp;&nbsp; (6.65)<br>| &nbsp;&nbsp;&nbsp;&nbsp;23.25 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 |
| Expenses after expense reductions (h) | 1.08<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | N/A |
| Net investment income (loss) (l) | 0.84<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.66 | &nbsp;&nbsp;&nbsp;&nbsp;1.56 | &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp;2.21 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $14860 | &nbsp;&nbsp; $15505 | &nbsp;&nbsp; $18754 | &nbsp;&nbsp; $21036 | &nbsp;&nbsp; $25035 | &nbsp;&nbsp; $26919 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Moderate Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R2** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $19.35 | &nbsp;&nbsp; $19.14 | &nbsp;&nbsp; $17.58 | &nbsp;&nbsp; $18.72 | &nbsp;&nbsp; $21.04 | &nbsp;&nbsp; $17.59 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.14 | &nbsp;&nbsp; $0.43 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $0.39 | &nbsp;&nbsp; $0.56 | &nbsp;&nbsp; $0.20 |
| Net realized and unrealized gain (loss) | 1.21 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;1.92 | &nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp; (1.74)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.95 |
| Total from investment operations | $1.35 | &nbsp;&nbsp; $1.50 | &nbsp;&nbsp; $2.29 | &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(1.18)<br>| &nbsp;&nbsp; $4.15 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.13)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.37)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.20)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; (0.50)<br>|
| Total distributions declared to shareholders | $(0.13)<br>| &nbsp;&nbsp; $(1.29)<br>| &nbsp;&nbsp; $(0.73)<br>| &nbsp;&nbsp; $(0.69)<br>| &nbsp;&nbsp; $(1.14)<br>| &nbsp;&nbsp; $(0.70)<br>|
| Net asset value, end of period (x) | $20.57 | &nbsp;&nbsp; $19.35 | &nbsp;&nbsp; $19.14 | &nbsp;&nbsp; $17.58 | &nbsp;&nbsp; $18.72 | &nbsp;&nbsp; $21.04 |
| Total return (%) (r)(s)(t)(x) | 7.00<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.06 | &nbsp;&nbsp;&nbsp;&nbsp;13.22 | &nbsp;&nbsp; (2.24)<br>| &nbsp;&nbsp; (6.20)<br>| &nbsp;&nbsp;&nbsp;&nbsp;23.88 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.59<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.58 |
| Expenses after expense reductions (h) | 0.59<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.58 |
| Net investment income (loss) (l) | 1.35<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.21 | &nbsp;&nbsp;&nbsp;&nbsp;2.02 | &nbsp;&nbsp;&nbsp;&nbsp;2.18 | &nbsp;&nbsp;&nbsp;&nbsp;2.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.01 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $72527 | &nbsp;&nbsp; $77807 | &nbsp;&nbsp; $86169 | &nbsp;&nbsp; $94299 | &nbsp;&nbsp; $107117 | &nbsp;&nbsp; $128654 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R3** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $19.73 | &nbsp;&nbsp; $19.50 | &nbsp;&nbsp; $17.90 | &nbsp;&nbsp; $19.04 | &nbsp;&nbsp; $21.38 | &nbsp;&nbsp; $17.86 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.16 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.44 | &nbsp;&nbsp; $0.63 | &nbsp;&nbsp; $0.25 |
| Net realized and unrealized gain (loss) | 1.25 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.96 | &nbsp;&nbsp; (0.85)<br>| &nbsp;&nbsp; (1.78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.01 |
| Total from investment operations | $1.41 | &nbsp;&nbsp; $1.57 | &nbsp;&nbsp; $2.38 | &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(1.15)<br>| &nbsp;&nbsp; $4.26 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.16)<br>| &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(0.61)<br>| &nbsp;&nbsp; $(0.24)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; (0.50)<br>|
| Total distributions declared to shareholders | $(0.16)<br>| &nbsp;&nbsp; $(1.34)<br>| &nbsp;&nbsp; $(0.78)<br>| &nbsp;&nbsp; $(0.73)<br>| &nbsp;&nbsp; $(1.19)<br>| &nbsp;&nbsp; $(0.74)<br>|
| Net asset value, end of period (x) | $20.98 | &nbsp;&nbsp; $19.73 | &nbsp;&nbsp; $19.50 | &nbsp;&nbsp; $17.90 | &nbsp;&nbsp; $19.04 | &nbsp;&nbsp; $21.38 |
| Total return (%) (r)(s)(t)(x) | 7.15<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.27 | &nbsp;&nbsp;&nbsp;&nbsp;13.49 | &nbsp;&nbsp; (1.96)<br>| &nbsp;&nbsp; (5.97)<br>| &nbsp;&nbsp;&nbsp;&nbsp;24.21 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.34<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.33 |
| Expenses after expense reductions (h) | 0.34<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | N/A |
| Net investment income (loss) (l) | 1.60<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.48 | &nbsp;&nbsp;&nbsp;&nbsp;2.27 | &nbsp;&nbsp;&nbsp;&nbsp;2.44 | &nbsp;&nbsp;&nbsp;&nbsp;2.97 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $117251 | &nbsp;&nbsp; $118078 | &nbsp;&nbsp; $157588 | &nbsp;&nbsp; $163134 | &nbsp;&nbsp; $196975 | &nbsp;&nbsp; $250644 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Moderate Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R4** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $19.92 | &nbsp;&nbsp; $19.67 | &nbsp;&nbsp; $18.05 | &nbsp;&nbsp; $19.20 | &nbsp;&nbsp; $21.55 | &nbsp;&nbsp; $18.00 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.19 | &nbsp;&nbsp; $0.54 | &nbsp;&nbsp; $0.48 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.69 | &nbsp;&nbsp; $0.30 |
| Net realized and unrealized gain (loss) | 1.26 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.96 | &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (1.80)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.04 |
| Total from investment operations | $1.45 | &nbsp;&nbsp; $1.64 | &nbsp;&nbsp; $2.44 | &nbsp;&nbsp; $(0.37)<br>| &nbsp;&nbsp; $(1.11)<br>| &nbsp;&nbsp; $4.34 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $(0.18)<br>| &nbsp;&nbsp; $(0.55)<br>| &nbsp;&nbsp; $(0.46)<br>| &nbsp;&nbsp; $(0.49)<br>| &nbsp;&nbsp; $(0.66)<br>| &nbsp;&nbsp; $(0.29)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; (0.50)<br>|
| Total distributions declared to shareholders | $(0.18)<br>| &nbsp;&nbsp; $(1.39)<br>| &nbsp;&nbsp; $(0.82)<br>| &nbsp;&nbsp; $(0.78)<br>| &nbsp;&nbsp; $(1.24)<br>| &nbsp;&nbsp; $(0.79)<br>|
| Net asset value, end of period (x) | $21.19 | &nbsp;&nbsp; $19.92 | &nbsp;&nbsp; $19.67 | &nbsp;&nbsp; $18.05 | &nbsp;&nbsp; $19.20 | &nbsp;&nbsp; $21.55 |
| Total return (%) (r)(s)(t)(x) | 7.31<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.58 | &nbsp;&nbsp;&nbsp;&nbsp;13.77 | &nbsp;&nbsp; (1.74)<br>| &nbsp;&nbsp; (5.74)<br>| &nbsp;&nbsp;&nbsp;&nbsp;24.50 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.08 |
| Expenses after expense reductions (h) | 0.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | N/A |
| Net investment income (loss) (l) | 1.85<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.73 | &nbsp;&nbsp;&nbsp;&nbsp;2.54 | &nbsp;&nbsp;&nbsp;&nbsp;2.72 | &nbsp;&nbsp;&nbsp;&nbsp;3.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $154947 | &nbsp;&nbsp; $172596 | &nbsp;&nbsp; $226037 | &nbsp;&nbsp; $247048 | &nbsp;&nbsp; $296478 | &nbsp;&nbsp; $334080 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R6** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22(i)** |
| Net asset value, beginning of period | $20.34 | &nbsp;&nbsp; $20.06 | &nbsp;&nbsp; $18.39 | &nbsp;&nbsp; $19.55 | &nbsp;&nbsp; $22.22 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.20 | &nbsp;&nbsp; $0.57 | &nbsp;&nbsp; $0.50 | &nbsp;&nbsp; $0.51 | &nbsp;&nbsp; $0.15 |
| Net realized and unrealized gain (loss) | 1.28 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;2.01 | &nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp; (1.67)<br>|
| Total from investment operations | $1.48 | &nbsp;&nbsp; $1.69 | &nbsp;&nbsp; $2.51 | &nbsp;&nbsp; $(0.37)<br>| &nbsp;&nbsp; $(1.52)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.19)<br>| &nbsp;&nbsp; $(0.57)<br>| &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(0.57)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.58)<br>|
| Total distributions declared to shareholders | $(0.19)<br>| &nbsp;&nbsp; $(1.41)<br>| &nbsp;&nbsp; $(0.84)<br>| &nbsp;&nbsp; $(0.79)<br>| &nbsp;&nbsp; $(1.15)<br>|
| Net asset value, end of period (x) | $21.63 | &nbsp;&nbsp; $20.34 | &nbsp;&nbsp; $20.06 | &nbsp;&nbsp; $18.39 | &nbsp;&nbsp; $19.55 |
| Total return (%) (r)(s)(t)(x) | 7.29<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.64 | &nbsp;&nbsp;&nbsp;&nbsp;13.87 | &nbsp;&nbsp; (1.69)<br>| &nbsp;&nbsp; (7.39)(n)<br>|
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.03<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> (a)<br>|
| Expenses after expense reductions (h) | 0.02<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp; 0.02<br> (a)<br>|
| Net investment income (loss) (l) | 1.91<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.78 | &nbsp;&nbsp;&nbsp;&nbsp;2.60 | &nbsp;&nbsp;&nbsp;&nbsp;2.74 | &nbsp;&nbsp;&nbsp;&nbsp; 1.12<br> (a)<br>|
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 |
| Net assets at end of period (000 omitted) | $308158 | &nbsp;&nbsp; $310434 | &nbsp;&nbsp; $305097 | &nbsp;&nbsp; $233967 | &nbsp;&nbsp; $207850 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Moderate Allocation Fund - continued**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(h) In addition to the fees and expenses which the fund bears directly, the fund indirectly
 bears a pro rata share of the fees and expenses of the underlying affiliated funds in which the fund invests. Accordingly, the expense ratio for the
 fund reflects only those fees and expenses borne directly by the fund. Because the underlying affiliated funds have varied expense and fee levels and the fund may
 own different proportions of the underlying affiliated funds at different times, the amount of fees and expenses incurred indirectly by the fund will vary.

&nbsp;&nbsp;&nbsp;&nbsp;(i) For Class R6, the period is from the class inception, September 30, 2021, through
 the stated period end.

&nbsp;&nbsp;&nbsp;&nbsp;(l) Recognition of net investment income by the fund may be affected by the timing of
 the declaration of dividends by the underlying affiliated funds in which the fund invests and for interim net investment income ratios, the actual annual net
 investment income ratio may differ. The ratios and per share amounts do not include net investment income of the underlying affiliated funds in which the
 fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Growth Allocation Fund**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years (or life of a particular share class, if shorter). Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class A** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $25.14 | &nbsp;&nbsp; $24.45 | &nbsp;&nbsp; $21.60 | &nbsp;&nbsp; $23.06 | &nbsp;&nbsp; $26.18 | &nbsp;&nbsp; $20.57 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.11 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.41 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.83 | &nbsp;&nbsp; $0.23 |
| Net realized and unrealized gain (loss) | 1.92 | &nbsp;&nbsp;&nbsp;&nbsp;1.65 | &nbsp;&nbsp;&nbsp;&nbsp;3.28 | &nbsp;&nbsp; (0.99)<br>| &nbsp;&nbsp; (2.10)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.25 |
| Total from investment operations | $2.03 | &nbsp;&nbsp; $2.14 | &nbsp;&nbsp; $3.69 | &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(1.27)<br>| &nbsp;&nbsp; $6.48 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(0.39)<br>| &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(0.83)<br>| &nbsp;&nbsp; $(0.23)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp; (0.64)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.45)<br>| &nbsp;&nbsp; $(0.84)<br>| &nbsp;&nbsp; $(0.96)<br>| &nbsp;&nbsp; $(1.85)<br>| &nbsp;&nbsp; $(0.87)<br>|
| Net asset value, end of period (x) | $27.17 | &nbsp;&nbsp; $25.14 | &nbsp;&nbsp; $24.45 | &nbsp;&nbsp; $21.60 | &nbsp;&nbsp; $23.06 | &nbsp;&nbsp; $26.18 |
| Total return (%) (r)(s)(t)(x) | 8.07<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.98 | &nbsp;&nbsp;&nbsp;&nbsp;17.32 | &nbsp;&nbsp; (1.97)<br>| &nbsp;&nbsp; (5.64)<br>| &nbsp;&nbsp;&nbsp;&nbsp;31.90 |
| **Ratios (%) (to average net assets) and Supplemental** <br> **data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.35<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 |
| Expenses after expense reductions (h) | 0.34<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 |
| Net investment income (loss) (l) | 0.81<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.96 | &nbsp;&nbsp;&nbsp;&nbsp;1.77 | &nbsp;&nbsp;&nbsp;&nbsp;2.25 | &nbsp;&nbsp;&nbsp;&nbsp;3.24 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $5125482 | &nbsp;&nbsp; $4897596 | &nbsp;&nbsp; $4774614 | &nbsp;&nbsp; $4249189 | &nbsp;&nbsp; $4361480 | &nbsp;&nbsp; $4279764 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Growth Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class B** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $25.20 | &nbsp;&nbsp; $24.42 | &nbsp;&nbsp; $21.53 | &nbsp;&nbsp; $22.92 | &nbsp;&nbsp; $25.99 | &nbsp;&nbsp; $20.39 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.01 | &nbsp;&nbsp; $0.31 | &nbsp;&nbsp; $0.23 | &nbsp;&nbsp; $0.33 | &nbsp;&nbsp; $0.63 | &nbsp;&nbsp; $0.05 |
| Net realized and unrealized gain (loss) | 1.91 | &nbsp;&nbsp;&nbsp;&nbsp;1.66 | &nbsp;&nbsp;&nbsp;&nbsp;3.27 | &nbsp;&nbsp; (0.98)<br>| &nbsp;&nbsp; (2.10)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.21 |
| Total from investment operations | $1.92 | &nbsp;&nbsp; $1.97 | &nbsp;&nbsp; $3.50 | &nbsp;&nbsp; $(0.65)<br>| &nbsp;&nbsp; $(1.47)<br>| &nbsp;&nbsp; $6.26 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.24)<br>| &nbsp;&nbsp; $(0.16)<br>| &nbsp;&nbsp; $(0.26)<br>| &nbsp;&nbsp; $(0.58)<br>| &nbsp;&nbsp; $(0.02)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp; (0.64)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.19)<br>| &nbsp;&nbsp; $(0.61)<br>| &nbsp;&nbsp; $(0.74)<br>| &nbsp;&nbsp; $(1.60)<br>| &nbsp;&nbsp; $(0.66)<br>|
| Net asset value, end of period (x) | $27.12 | &nbsp;&nbsp; $25.20 | &nbsp;&nbsp; $24.42 | &nbsp;&nbsp; $21.53 | &nbsp;&nbsp; $22.92 | &nbsp;&nbsp; $25.99 |
| Total return (%) (r)(s)(t)(x) | 7.62<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.21 | &nbsp;&nbsp;&nbsp;&nbsp;16.42 | &nbsp;&nbsp; (2.69)<br>| &nbsp;&nbsp; (6.36)<br>| &nbsp;&nbsp;&nbsp;&nbsp;30.98 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.10<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 |
| Expenses after expense reductions (h) | 1.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 |
| Net investment income (loss) (l) | 0.07<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;2.46 | &nbsp;&nbsp;&nbsp;&nbsp;0.23 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $13988 | &nbsp;&nbsp; $17740 | &nbsp;&nbsp; $31854 | &nbsp;&nbsp; $46181 | &nbsp;&nbsp; $69836 | &nbsp;&nbsp; $109514 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class C** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $24.58 | &nbsp;&nbsp; $23.92 | &nbsp;&nbsp; $21.14 | &nbsp;&nbsp; $22.55 | &nbsp;&nbsp; $25.63 | &nbsp;&nbsp; $20.12 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.01 | &nbsp;&nbsp; $0.30 | &nbsp;&nbsp; $0.23 | &nbsp;&nbsp; $0.32 | &nbsp;&nbsp; $0.62 | &nbsp;&nbsp; $0.06 |
| Net realized and unrealized gain (loss) | 1.87 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 | &nbsp;&nbsp;&nbsp;&nbsp;3.21 | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (2.07)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.12 |
| Total from investment operations | $1.88 | &nbsp;&nbsp; $1.91 | &nbsp;&nbsp; $3.44 | &nbsp;&nbsp; $(0.63)<br>| &nbsp;&nbsp; $(1.45)<br>| &nbsp;&nbsp; $6.18 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.21)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.61)<br>| &nbsp;&nbsp; $(0.03)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp; (0.64)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.25)<br>| &nbsp;&nbsp; $(0.66)<br>| &nbsp;&nbsp; $(0.78)<br>| &nbsp;&nbsp; $(1.63)<br>| &nbsp;&nbsp; $(0.67)<br>|
| Net asset value, end of period (x) | $26.46 | &nbsp;&nbsp; $24.58 | &nbsp;&nbsp; $23.92 | &nbsp;&nbsp; $21.14 | &nbsp;&nbsp; $22.55 | &nbsp;&nbsp; $25.63 |
| Total return (%) (r)(s)(t)(x) | 7.65<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.16 | &nbsp;&nbsp;&nbsp;&nbsp;16.45 | &nbsp;&nbsp; (2.67)<br>| &nbsp;&nbsp; (6.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp;30.98 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.10<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 |
| Expenses after expense reductions (h) | 1.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 |
| Net investment income (loss) (l) | 0.07<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;1.51 | &nbsp;&nbsp;&nbsp;&nbsp;2.46 | &nbsp;&nbsp;&nbsp;&nbsp;0.26 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $332652 | &nbsp;&nbsp; $336993 | &nbsp;&nbsp; $383396 | &nbsp;&nbsp; $396612 | &nbsp;&nbsp; $490305 | &nbsp;&nbsp; $638016 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Growth Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class I** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $25.50 | &nbsp;&nbsp; $24.77 | &nbsp;&nbsp; $21.87 | &nbsp;&nbsp; $23.33 | &nbsp;&nbsp; $26.47 | &nbsp;&nbsp; $20.78 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.14 | &nbsp;&nbsp; $0.56 | &nbsp;&nbsp; $0.48 | &nbsp;&nbsp; $0.54 | &nbsp;&nbsp; $0.91 | &nbsp;&nbsp; $0.29 |
| Net realized and unrealized gain (loss) | 1.94 | &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp;3.31 | &nbsp;&nbsp; (0.98)<br>| &nbsp;&nbsp; (2.13)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.33 |
| Total from investment operations | $2.08 | &nbsp;&nbsp; $2.25 | &nbsp;&nbsp; $3.79 | &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(1.22)<br>| &nbsp;&nbsp; $6.62 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.57)<br>| &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(0.90)<br>| &nbsp;&nbsp; $(0.29)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp; (0.64)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.52)<br>| &nbsp;&nbsp; $(0.89)<br>| &nbsp;&nbsp; $(1.02)<br>| &nbsp;&nbsp; $(1.92)<br>| &nbsp;&nbsp; $(0.93)<br>|
| Net asset value, end of period (x) | $27.58 | &nbsp;&nbsp; $25.50 | &nbsp;&nbsp; $24.77 | &nbsp;&nbsp; $21.87 | &nbsp;&nbsp; $23.33 | &nbsp;&nbsp; $26.47 |
| Total return (%) (r)(s)(t)(x) | 8.16<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.29 | &nbsp;&nbsp;&nbsp;&nbsp;17.60 | &nbsp;&nbsp; (1.69)<br>| &nbsp;&nbsp; (5.44)<br>| &nbsp;&nbsp;&nbsp;&nbsp;32.24 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.10<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 |
| Expenses after expense reductions (h) | 0.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 |
| Net investment income (loss) (l) | 1.06<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.21 | &nbsp;&nbsp;&nbsp;&nbsp;2.04 | &nbsp;&nbsp;&nbsp;&nbsp;2.47 | &nbsp;&nbsp;&nbsp;&nbsp;3.50 | &nbsp;&nbsp;&nbsp;&nbsp;1.23 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $399901 | &nbsp;&nbsp; $380011 | &nbsp;&nbsp; $396160 | &nbsp;&nbsp; $421284 | &nbsp;&nbsp; $421692 | &nbsp;&nbsp; $434119 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R1** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $23.82 | &nbsp;&nbsp; $23.22 | &nbsp;&nbsp; $20.55 | &nbsp;&nbsp; $21.97 | &nbsp;&nbsp; $25.02 | &nbsp;&nbsp; $19.69 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.01 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.23 | &nbsp;&nbsp; $0.32 | &nbsp;&nbsp; $0.62 | &nbsp;&nbsp; $0.05 |
| Net realized and unrealized gain (loss) | 1.81 | &nbsp;&nbsp;&nbsp;&nbsp;1.57 | &nbsp;&nbsp;&nbsp;&nbsp;3.11 | &nbsp;&nbsp; (0.94)<br>| &nbsp;&nbsp; (2.02)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.98 |
| Total from investment operations | $1.82 | &nbsp;&nbsp; $1.85 | &nbsp;&nbsp; $3.34 | &nbsp;&nbsp; $(0.62)<br>| &nbsp;&nbsp; $(1.40)<br>| &nbsp;&nbsp; $6.03 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.22)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(0.63)<br>| &nbsp;&nbsp; $(0.06)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp; (0.64)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.25)<br>| &nbsp;&nbsp; $(0.67)<br>| &nbsp;&nbsp; $(0.80)<br>| &nbsp;&nbsp; $(1.65)<br>| &nbsp;&nbsp; $(0.70)<br>|
| Net asset value, end of period (x) | $25.64 | &nbsp;&nbsp; $23.82 | &nbsp;&nbsp; $23.22 | &nbsp;&nbsp; $20.55 | &nbsp;&nbsp; $21.97 | &nbsp;&nbsp; $25.02 |
| Total return (%) (r)(s)(t)(x) | 7.64<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.16 | &nbsp;&nbsp;&nbsp;&nbsp;16.46 | &nbsp;&nbsp; (2.67)<br>| &nbsp;&nbsp; (6.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp;30.91 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.10<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 |
| Expenses after expense reductions (h) | 1.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 |
| Net investment income (loss) (l) | 0.06<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;&nbsp;1.05 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;2.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.21 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $14725 | &nbsp;&nbsp; $14226 | &nbsp;&nbsp; $16321 | &nbsp;&nbsp; $16463 | &nbsp;&nbsp; $18598 | &nbsp;&nbsp; $21519 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Growth Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R2** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $24.39 | &nbsp;&nbsp; $23.76 | &nbsp;&nbsp; $21.01 | &nbsp;&nbsp; $22.44 | &nbsp;&nbsp; $25.52 | &nbsp;&nbsp; $20.06 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.07 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.34 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.75 | &nbsp;&nbsp; $0.17 |
| Net realized and unrealized gain (loss) | 1.86 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;3.18 | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (2.05)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.10 |
| Total from investment operations | $1.93 | &nbsp;&nbsp; $2.02 | &nbsp;&nbsp; $3.52 | &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(1.30)<br>| &nbsp;&nbsp; $6.27 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.76)<br>| &nbsp;&nbsp; $(0.17)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp; (0.64)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.39)<br>| &nbsp;&nbsp; $(0.77)<br>| &nbsp;&nbsp; $(0.90)<br>| &nbsp;&nbsp; $(1.78)<br>| &nbsp;&nbsp; $(0.81)<br>|
| Net asset value, end of period (x) | $26.32 | &nbsp;&nbsp; $24.39 | &nbsp;&nbsp; $23.76 | &nbsp;&nbsp; $21.01 | &nbsp;&nbsp; $22.44 | &nbsp;&nbsp; $25.52 |
| Total return (%) (r)(s)(t)(x) | 7.91<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.69 | &nbsp;&nbsp;&nbsp;&nbsp;17.00 | &nbsp;&nbsp; (2.18)<br>| &nbsp;&nbsp; (5.89)<br>| &nbsp;&nbsp;&nbsp;&nbsp;31.62 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.60<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 |
| Expenses after expense reductions (h) | 0.59<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 |
| Net investment income (loss) (l) | 0.57<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.72 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.98 | &nbsp;&nbsp;&nbsp;&nbsp;2.97 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $84882 | &nbsp;&nbsp; $92112 | &nbsp;&nbsp; $101107 | &nbsp;&nbsp; $107528 | &nbsp;&nbsp; $122694 | &nbsp;&nbsp; $142619 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R3** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $24.87 | &nbsp;&nbsp; $24.20 | &nbsp;&nbsp; $21.38 | &nbsp;&nbsp; $22.83 | &nbsp;&nbsp; $25.93 | &nbsp;&nbsp; $20.37 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.11 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.40 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.82 | &nbsp;&nbsp; $0.23 |
| Net realized and unrealized gain (loss) | 1.89 | &nbsp;&nbsp;&nbsp;&nbsp;1.63 | &nbsp;&nbsp;&nbsp;&nbsp;3.25 | &nbsp;&nbsp; (0.98)<br>| &nbsp;&nbsp; (2.07)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.20 |
| Total from investment operations | $2.00 | &nbsp;&nbsp; $2.12 | &nbsp;&nbsp; $3.65 | &nbsp;&nbsp; $(0.49)<br>| &nbsp;&nbsp; $(1.25)<br>| &nbsp;&nbsp; $6.43 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(0.38)<br>| &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(0.83)<br>| &nbsp;&nbsp; $(0.23)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp; (0.64)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.45)<br>| &nbsp;&nbsp; $(0.83)<br>| &nbsp;&nbsp; $(0.96)<br>| &nbsp;&nbsp; $(1.85)<br>| &nbsp;&nbsp; $(0.87)<br>|
| Net asset value, end of period (x) | $26.87 | &nbsp;&nbsp; $24.87 | &nbsp;&nbsp; $24.20 | &nbsp;&nbsp; $21.38 | &nbsp;&nbsp; $22.83 | &nbsp;&nbsp; $25.93 |
| Total return (%) (r)(s)(t)(x) | 8.04<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.98 | &nbsp;&nbsp;&nbsp;&nbsp;17.33 | &nbsp;&nbsp; (1.97)<br>| &nbsp;&nbsp; (5.64)<br>| &nbsp;&nbsp;&nbsp;&nbsp;31.94 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.35<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 |
| Expenses after expense reductions (h) | 0.34<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 |
| Net investment income (loss) (l) | 0.81<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.97 | &nbsp;&nbsp;&nbsp;&nbsp;1.76 | &nbsp;&nbsp;&nbsp;&nbsp;2.26 | &nbsp;&nbsp;&nbsp;&nbsp;3.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $97221 | &nbsp;&nbsp; $97174 | &nbsp;&nbsp; $114964 | &nbsp;&nbsp; $115250 | &nbsp;&nbsp; $140484 | &nbsp;&nbsp; $170541 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Growth Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R4** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $25.14 | &nbsp;&nbsp; $24.45 | &nbsp;&nbsp; $21.60 | &nbsp;&nbsp; $23.05 | &nbsp;&nbsp; $26.17 | &nbsp;&nbsp; $20.55 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.14 | &nbsp;&nbsp; $0.55 | &nbsp;&nbsp; $0.47 | &nbsp;&nbsp; $0.54 | &nbsp;&nbsp; $0.91 | &nbsp;&nbsp; $0.29 |
| Net realized and unrealized gain (loss) | 1.92 | &nbsp;&nbsp;&nbsp;&nbsp;1.66 | &nbsp;&nbsp;&nbsp;&nbsp;3.27 | &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (2.11)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.26 |
| Total from investment operations | $2.06 | &nbsp;&nbsp; $2.21 | &nbsp;&nbsp; $3.74 | &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(1.20)<br>| &nbsp;&nbsp; $6.55 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.57)<br>| &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(0.90)<br>| &nbsp;&nbsp; $(0.29)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp; (0.64)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.52)<br>| &nbsp;&nbsp; $(0.89)<br>| &nbsp;&nbsp; $(1.02)<br>| &nbsp;&nbsp; $(1.92)<br>| &nbsp;&nbsp; $(0.93)<br>|
| Net asset value, end of period (x) | $27.20 | &nbsp;&nbsp; $25.14 | &nbsp;&nbsp; $24.45 | &nbsp;&nbsp; $21.60 | &nbsp;&nbsp; $23.05 | &nbsp;&nbsp; $26.17 |
| Total return (%) (r)(s)(t)(x) | 8.19<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.25 | &nbsp;&nbsp;&nbsp;&nbsp;17.59 | &nbsp;&nbsp; (1.67)<br>| &nbsp;&nbsp; (5.43)<br>| &nbsp;&nbsp;&nbsp;&nbsp;32.26 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.10<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 |
| Expenses after expense reductions (h) | 0.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 |
| Net investment income (loss) (l) | 1.07<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.21 | &nbsp;&nbsp;&nbsp;&nbsp;2.03 | &nbsp;&nbsp;&nbsp;&nbsp;2.51 | &nbsp;&nbsp;&nbsp;&nbsp;3.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.23 |
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $199483 | &nbsp;&nbsp; $217164 | &nbsp;&nbsp; $277386 | &nbsp;&nbsp; $307903 | &nbsp;&nbsp; $328631 | &nbsp;&nbsp; $360879 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R6** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22(i)** |
| Net asset value, beginning of period | $25.51 | &nbsp;&nbsp; $24.79 | &nbsp;&nbsp; $21.88 | &nbsp;&nbsp; $23.35 | &nbsp;&nbsp; $27.02 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.15 | &nbsp;&nbsp; $0.58 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.56 | &nbsp;&nbsp; $0.12 |
| Net realized and unrealized gain (loss) | 1.94 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;3.33 | &nbsp;&nbsp; (0.99)<br>| &nbsp;&nbsp; (1.87)<br>|
| Total from investment operations | $2.09 | &nbsp;&nbsp; $2.26 | &nbsp;&nbsp; $3.82 | &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(1.75)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(0.46)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.90)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (1.02)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.54)<br>| &nbsp;&nbsp; $(0.91)<br>| &nbsp;&nbsp; $(1.04)<br>| &nbsp;&nbsp; $(1.92)<br>|
| Net asset value, end of period (x) | $27.60 | &nbsp;&nbsp; $25.51 | &nbsp;&nbsp; $24.79 | &nbsp;&nbsp; $21.88 | &nbsp;&nbsp; $23.35 |
| Total return (%) (r)(s)(t)(x) | 8.19<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.33 | &nbsp;&nbsp;&nbsp;&nbsp;17.73 | &nbsp;&nbsp; (1.65)<br>| &nbsp;&nbsp; (7.27)(n)<br>|
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.03<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp; 0.04<br> (a)<br>|
| Expenses after expense reductions (h) | 0.02<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp; 0.02<br> (a)<br>|
| Net investment income (loss) (l) | 1.13<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.30 | &nbsp;&nbsp;&nbsp;&nbsp;2.08 | &nbsp;&nbsp;&nbsp;&nbsp;2.55 | &nbsp;&nbsp;&nbsp;&nbsp; 0.75<br> (a)<br>|
| Portfolio turnover rate | 3<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11 |
| Net assets at end of period (000 omitted) | $455369 | &nbsp;&nbsp; $435274 | &nbsp;&nbsp; $446621 | &nbsp;&nbsp; $274102 | &nbsp;&nbsp; $228326 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Growth Allocation Fund - continued**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(h) In addition to the fees and expenses which the fund bears directly, the fund indirectly
 bears a pro rata share of the fees and expenses of the underlying affiliated funds in which the fund invests. Accordingly, the expense ratio for the
 fund reflects only those fees and expenses borne directly by the fund. Because the underlying affiliated funds have varied expense and fee levels and the fund may
 own different proportions of the underlying affiliated funds at different times, the amount of fees and expenses incurred indirectly by the fund will vary.

&nbsp;&nbsp;&nbsp;&nbsp;(i) For Class R6, the period is from the class inception, September 30, 2021, through
 the stated period end.

&nbsp;&nbsp;&nbsp;&nbsp;(l) Recognition of net investment income by the fund may be affected by the timing of
 the declaration of dividends by the underlying affiliated funds in which the fund invests and for interim net investment income ratios, the actual annual net
 investment income ratio may differ. The ratios and per share amounts do not include net investment income of the underlying affiliated funds in which the
 fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Aggressive Growth Allocation Fund**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years (or life of a particular share class, if shorter). Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class A** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $31.20 | &nbsp;&nbsp; $29.90 | &nbsp;&nbsp; $25.73 | &nbsp;&nbsp; $27.39 | &nbsp;&nbsp; $31.03 | &nbsp;&nbsp; $23.23 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.02)<br>| &nbsp;&nbsp; $0.40 | &nbsp;&nbsp; $0.30 | &nbsp;&nbsp; $0.44 | &nbsp;&nbsp; $0.92 | &nbsp;&nbsp; $0.14 |
| Net realized and unrealized gain (loss) | 2.76 | &nbsp;&nbsp;&nbsp;&nbsp;2.39 | &nbsp;&nbsp;&nbsp;&nbsp;4.77 | &nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp; (2.46)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.66 |
| Total from investment operations | $2.74 | &nbsp;&nbsp; $2.79 | &nbsp;&nbsp; $5.07 | &nbsp;&nbsp; $(0.58)<br>| &nbsp;&nbsp; $(1.54)<br>| &nbsp;&nbsp; $8.80 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.27)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.94)<br>| &nbsp;&nbsp; $(0.15)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp; (0.85)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.49)<br>| &nbsp;&nbsp; $(0.90)<br>| &nbsp;&nbsp; $(1.08)<br>| &nbsp;&nbsp; $(2.10)<br>| &nbsp;&nbsp; $(1.00)<br>|
| Net asset value, end of period (x) | $33.94 | &nbsp;&nbsp; $31.20 | &nbsp;&nbsp; $29.90 | &nbsp;&nbsp; $25.73 | &nbsp;&nbsp; $27.39 | &nbsp;&nbsp; $31.03 |
| Total return (%) (r)(s)(t)(x) | 8.78<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.52 | &nbsp;&nbsp;&nbsp;&nbsp;19.97 | &nbsp;&nbsp; (1.95)<br>| &nbsp;&nbsp; (5.78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;38.35 |
| **Ratios (%) (to average net assets) and Supplemental** <br> **data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.37<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.40 |
| Expenses after expense reductions (h) | 0.37<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.38 |
| Net investment income (loss) (l) | (0.10)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;3.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.50 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $1856004 | &nbsp;&nbsp; $1753392 | &nbsp;&nbsp; $1662799 | &nbsp;&nbsp; $1422920 | &nbsp;&nbsp; $1424073 | &nbsp;&nbsp; $1386555 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Aggressive Growth Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class B** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $30.79 | &nbsp;&nbsp; $29.44 | &nbsp;&nbsp; $25.31 | &nbsp;&nbsp; $26.90 | &nbsp;&nbsp; $30.47 | &nbsp;&nbsp; $22.88 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.14)<br>| &nbsp;&nbsp; $0.17 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.25 | &nbsp;&nbsp; $0.69 | &nbsp;&nbsp; $(0.06)<br>|
| Net realized and unrealized gain (loss) | 2.72 | &nbsp;&nbsp;&nbsp;&nbsp;2.36 | &nbsp;&nbsp;&nbsp;&nbsp;4.69 | &nbsp;&nbsp; (1.01)<br>| &nbsp;&nbsp; (2.44)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.50 |
| Total from investment operations | $2.58 | &nbsp;&nbsp; $2.53 | &nbsp;&nbsp; $4.78 | &nbsp;&nbsp; $(0.76)<br>| &nbsp;&nbsp; $(1.75)<br>| &nbsp;&nbsp; $8.44 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.11)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.20)<br>| &nbsp;&nbsp; $(0.66)<br>| $— |
| From net realized gain |  | &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp; (0.85)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.18)<br>| &nbsp;&nbsp; $(0.65)<br>| &nbsp;&nbsp; $(0.83)<br>| &nbsp;&nbsp; $(1.82)<br>| &nbsp;&nbsp; $(0.85)<br>|
| Net asset value, end of period (x) | $33.37 | &nbsp;&nbsp; $30.79 | &nbsp;&nbsp; $29.44 | &nbsp;&nbsp; $25.31 | &nbsp;&nbsp; $26.90 | &nbsp;&nbsp; $30.47 |
| Total return (%) (r)(s)(t)(x) | 8.38<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.72 | &nbsp;&nbsp;&nbsp;&nbsp;19.06 | &nbsp;&nbsp; (2.68)<br>| &nbsp;&nbsp; (6.48)<br>| &nbsp;&nbsp;&nbsp;&nbsp;37.30 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.12<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.15 |
| Expenses after expense reductions (h) | 1.12<br> (a)<br>| N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 |
| Net investment income (loss) (l) | (0.84)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;2.27 | &nbsp;&nbsp; (0.22)<br>|
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $7405 | &nbsp;&nbsp; $9134 | &nbsp;&nbsp; $15383 | &nbsp;&nbsp; $19808 | &nbsp;&nbsp; $27855 | &nbsp;&nbsp; $40147 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class C** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $30.09 | &nbsp;&nbsp; $28.88 | &nbsp;&nbsp; $24.88 | &nbsp;&nbsp; $26.51 | &nbsp;&nbsp; $30.09 | &nbsp;&nbsp; $22.61 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.13)<br>| &nbsp;&nbsp; $0.17 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.24 | &nbsp;&nbsp; $0.67 | &nbsp;&nbsp; $(0.05)<br>|
| Net realized and unrealized gain (loss) | 2.66 | &nbsp;&nbsp;&nbsp;&nbsp;2.30 | &nbsp;&nbsp;&nbsp;&nbsp;4.62 | &nbsp;&nbsp; (0.99)<br>| &nbsp;&nbsp; (2.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.38 |
| Total from investment operations | $2.53 | &nbsp;&nbsp; $2.47 | &nbsp;&nbsp; $4.71 | &nbsp;&nbsp; $(0.75)<br>| &nbsp;&nbsp; $(1.72)<br>| &nbsp;&nbsp; $8.33 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.19)<br>| &nbsp;&nbsp; $(0.08)<br>| &nbsp;&nbsp; $(0.25)<br>| &nbsp;&nbsp; $(0.70)<br>| $— |
| From net realized gain |  | &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp; (0.85)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.26)<br>| &nbsp;&nbsp; $(0.71)<br>| &nbsp;&nbsp; $(0.88)<br>| &nbsp;&nbsp; $(1.86)<br>| &nbsp;&nbsp; $(0.85)<br>|
| Net asset value, end of period (x) | $32.62 | &nbsp;&nbsp; $30.09 | &nbsp;&nbsp; $28.88 | &nbsp;&nbsp; $24.88 | &nbsp;&nbsp; $26.51 | &nbsp;&nbsp; $30.09 |
| Total return (%) (r)(s)(t)(x) | 8.41<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.71 | &nbsp;&nbsp;&nbsp;&nbsp;19.11 | &nbsp;&nbsp; (2.70)<br>| &nbsp;&nbsp; (6.47)<br>| &nbsp;&nbsp;&nbsp;&nbsp;37.26 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.12<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 |
| Expenses after expense reductions (h) | 1.12<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 |
| Net investment income (loss) (l) | (0.85)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;2.27 | &nbsp;&nbsp; (0.20)<br>|
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $240765 | &nbsp;&nbsp; $233040 | &nbsp;&nbsp; $237741 | &nbsp;&nbsp; $217393 | &nbsp;&nbsp; $232876 | &nbsp;&nbsp; $264940 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Aggressive Growth Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class I** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $31.95 | &nbsp;&nbsp; $30.58 | &nbsp;&nbsp; $26.28 | &nbsp;&nbsp; $27.96 | &nbsp;&nbsp; $31.62 | &nbsp;&nbsp; $23.65 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.03 | &nbsp;&nbsp; $0.48 | &nbsp;&nbsp; $0.38 | &nbsp;&nbsp; $0.51 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $0.22 |
| Net realized and unrealized gain (loss) | 2.82 | &nbsp;&nbsp;&nbsp;&nbsp;2.46 | &nbsp;&nbsp;&nbsp;&nbsp;4.89 | &nbsp;&nbsp; (1.05)<br>| &nbsp;&nbsp; (2.48)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.80 |
| Total from investment operations | $2.85 | &nbsp;&nbsp; $2.94 | &nbsp;&nbsp; $5.27 | &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(1.48)<br>| &nbsp;&nbsp; $9.02 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $(1.02)<br>| &nbsp;&nbsp; $(0.20)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp; (0.85)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.57)<br>| &nbsp;&nbsp; $(0.97)<br>| &nbsp;&nbsp; $(1.14)<br>| &nbsp;&nbsp; $(2.18)<br>| &nbsp;&nbsp; $(1.05)<br>|
| Net asset value, end of period (x) | $34.80 | &nbsp;&nbsp; $31.95 | &nbsp;&nbsp; $30.58 | &nbsp;&nbsp; $26.28 | &nbsp;&nbsp; $27.96 | &nbsp;&nbsp; $31.62 |
| Total return (%) (r)(s)(t)(x) | 8.92<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.80 | &nbsp;&nbsp;&nbsp;&nbsp;20.32 | &nbsp;&nbsp; (1.74)<br>| &nbsp;&nbsp; (5.52)<br>| &nbsp;&nbsp;&nbsp;&nbsp;38.67 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.12<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 |
| Expenses after expense reductions (h) | N/A | N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.13 |
| Net investment income (loss) (l) | 0.15<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.54 | &nbsp;&nbsp;&nbsp;&nbsp;1.34 | &nbsp;&nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;&nbsp;&nbsp;3.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $276738 | &nbsp;&nbsp; $259570 | &nbsp;&nbsp; $266362 | &nbsp;&nbsp; $238896 | &nbsp;&nbsp; $240621 | &nbsp;&nbsp; $241144 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R1** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $29.57 | &nbsp;&nbsp; $28.33 | &nbsp;&nbsp; $24.44 | &nbsp;&nbsp; $26.07 | &nbsp;&nbsp; $29.60 | &nbsp;&nbsp; $22.25 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.13)<br>| &nbsp;&nbsp; $0.12 | &nbsp;&nbsp; $0.10 | &nbsp;&nbsp; $0.27 | &nbsp;&nbsp; $0.69 | &nbsp;&nbsp; $(0.06)<br>|
| Net realized and unrealized gain (loss) | 2.61 | &nbsp;&nbsp;&nbsp;&nbsp;2.31 | &nbsp;&nbsp;&nbsp;&nbsp;4.51 | &nbsp;&nbsp; (1.01)<br>| &nbsp;&nbsp; (2.37)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.26 |
| Total from investment operations | $2.48 | &nbsp;&nbsp; $2.43 | &nbsp;&nbsp; $4.61 | &nbsp;&nbsp; $(0.74)<br>| &nbsp;&nbsp; $(1.68)<br>| &nbsp;&nbsp; $8.20 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.12)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.26)<br>| &nbsp;&nbsp; $(0.69)<br>| $— |
| From net realized gain |  | &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp; (0.85)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.19)<br>| &nbsp;&nbsp; $(0.72)<br>| &nbsp;&nbsp; $(0.89)<br>| &nbsp;&nbsp; $(1.85)<br>| &nbsp;&nbsp; $(0.85)<br>|
| Net asset value, end of period (x) | $32.05 | &nbsp;&nbsp; $29.57 | &nbsp;&nbsp; $28.33 | &nbsp;&nbsp; $24.44 | &nbsp;&nbsp; $26.07 | &nbsp;&nbsp; $29.60 |
| Total return (%) (r)(s)(t)(x) | 8.39<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.72 | &nbsp;&nbsp;&nbsp;&nbsp;19.08 | &nbsp;&nbsp; (2.70)<br>| &nbsp;&nbsp; (6.46)<br>| &nbsp;&nbsp;&nbsp;&nbsp;37.28 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.12<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 |
| Expenses after expense reductions (h) | N/A | N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 |
| Net investment income (loss) (l) | (0.85)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.41 | &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;2.34 | &nbsp;&nbsp; (0.24)<br>|
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $10900 | &nbsp;&nbsp; $10999 | &nbsp;&nbsp; $14166 | &nbsp;&nbsp; $12269 | &nbsp;&nbsp; $15536 | &nbsp;&nbsp; $18496 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Aggressive Growth Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R2** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $30.36 | &nbsp;&nbsp; $29.12 | &nbsp;&nbsp; $25.08 | &nbsp;&nbsp; $26.71 | &nbsp;&nbsp; $30.30 | &nbsp;&nbsp; $22.71 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.05)<br>| &nbsp;&nbsp; $0.32 | &nbsp;&nbsp; $0.23 | &nbsp;&nbsp; $0.36 | &nbsp;&nbsp; $0.83 | &nbsp;&nbsp; $0.07 |
| Net realized and unrealized gain (loss) | 2.68 | &nbsp;&nbsp;&nbsp;&nbsp;2.33 | &nbsp;&nbsp;&nbsp;&nbsp;4.64 | &nbsp;&nbsp; (0.99)<br>| &nbsp;&nbsp; (2.40)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.44 |
| Total from investment operations | $2.63 | &nbsp;&nbsp; $2.65 | &nbsp;&nbsp; $4.87 | &nbsp;&nbsp; $(0.63)<br>| &nbsp;&nbsp; $(1.57)<br>| &nbsp;&nbsp; $8.51 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.20)<br>| &nbsp;&nbsp; $(0.37)<br>| &nbsp;&nbsp; $(0.86)<br>| &nbsp;&nbsp; $(0.07)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp; (0.85)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.41)<br>| &nbsp;&nbsp; $(0.83)<br>| &nbsp;&nbsp; $(1.00)<br>| &nbsp;&nbsp; $(2.02)<br>| &nbsp;&nbsp; $(0.92)<br>|
| Net asset value, end of period (x) | $32.99 | &nbsp;&nbsp; $30.36 | &nbsp;&nbsp; $29.12 | &nbsp;&nbsp; $25.08 | &nbsp;&nbsp; $26.71 | &nbsp;&nbsp; $30.30 |
| Total return (%) (r)(s)(t)(x) | 8.66<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.28 | &nbsp;&nbsp;&nbsp;&nbsp;19.66 | &nbsp;&nbsp; (2.19)<br>| &nbsp;&nbsp; (6.01)<br>| &nbsp;&nbsp;&nbsp;&nbsp;37.93 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.62<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 |
| Expenses after expense reductions (h) | N/A | N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 |
| Net investment income (loss) (l) | (0.34)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;1.45 | &nbsp;&nbsp;&nbsp;&nbsp;2.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.27 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $39507 | &nbsp;&nbsp; $45376 | &nbsp;&nbsp; $50476 | &nbsp;&nbsp; $49019 | &nbsp;&nbsp; $55975 | &nbsp;&nbsp; $65485 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R3** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $30.92 | &nbsp;&nbsp; $29.63 | &nbsp;&nbsp; $25.50 | &nbsp;&nbsp; $27.15 | &nbsp;&nbsp; $30.76 | &nbsp;&nbsp; $23.04 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.02)<br>| &nbsp;&nbsp; $0.38 | &nbsp;&nbsp; $0.30 | &nbsp;&nbsp; $0.44 | &nbsp;&nbsp; $0.91 | &nbsp;&nbsp; $0.15 |
| Net realized and unrealized gain (loss) | 2.73 | &nbsp;&nbsp;&nbsp;&nbsp;2.40 | &nbsp;&nbsp;&nbsp;&nbsp;4.73 | &nbsp;&nbsp; (1.02)<br>| &nbsp;&nbsp; (2.43)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.56 |
| Total from investment operations | $2.71 | &nbsp;&nbsp; $2.78 | &nbsp;&nbsp; $5.03 | &nbsp;&nbsp; $(0.58)<br>| &nbsp;&nbsp; $(1.52)<br>| &nbsp;&nbsp; $8.71 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.27)<br>| &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(0.93)<br>| &nbsp;&nbsp; $(0.14)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp; (0.85)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.49)<br>| &nbsp;&nbsp; $(0.90)<br>| &nbsp;&nbsp; $(1.07)<br>| &nbsp;&nbsp; $(2.09)<br>| &nbsp;&nbsp; $(0.99)<br>|
| Net asset value, end of period (x) | $33.63 | &nbsp;&nbsp; $30.92 | &nbsp;&nbsp; $29.63 | &nbsp;&nbsp; $25.50 | &nbsp;&nbsp; $27.15 | &nbsp;&nbsp; $30.76 |
| Total return (%) (r)(s)(t)(x) | 8.76<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.55 | &nbsp;&nbsp;&nbsp;&nbsp;19.98 | &nbsp;&nbsp; (1.98)<br>| &nbsp;&nbsp; (5.75)<br>| &nbsp;&nbsp;&nbsp;&nbsp;38.28 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.37<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.40 |
| Expenses after expense reductions (h) | N/A | N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.38 |
| Net investment income (loss) (l) | (0.09)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.25 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;3.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.54 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $74848 | &nbsp;&nbsp; $78054 | &nbsp;&nbsp; $83257 | &nbsp;&nbsp; $77815 | &nbsp;&nbsp; $91223 | &nbsp;&nbsp; $105120 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Aggressive Growth Allocation Fund - continued**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R4** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $31.38 | &nbsp;&nbsp; $30.05 | &nbsp;&nbsp; $25.85 | &nbsp;&nbsp; $27.52 | &nbsp;&nbsp; $31.15 | &nbsp;&nbsp; $23.32 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.03 | &nbsp;&nbsp; $0.48 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $0.52 | &nbsp;&nbsp; $1.02 | &nbsp;&nbsp; $0.21 |
| Net realized and unrealized gain (loss) | 2.77 | &nbsp;&nbsp;&nbsp;&nbsp;2.42 | &nbsp;&nbsp;&nbsp;&nbsp;4.80 | &nbsp;&nbsp; (1.05)<br>| &nbsp;&nbsp; (2.47)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.67 |
| Total from investment operations | $2.80 | &nbsp;&nbsp; $2.90 | &nbsp;&nbsp; $5.17 | &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(1.45)<br>| &nbsp;&nbsp; $8.88 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $(1.02)<br>| &nbsp;&nbsp; $(0.20)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp; (0.85)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.57)<br>| &nbsp;&nbsp; $(0.97)<br>| &nbsp;&nbsp; $(1.14)<br>| &nbsp;&nbsp; $(2.18)<br>| &nbsp;&nbsp; $(1.05)<br>|
| Net asset value, end of period (x) | $34.18 | &nbsp;&nbsp; $31.38 | &nbsp;&nbsp; $30.05 | &nbsp;&nbsp; $25.85 | &nbsp;&nbsp; $27.52 | &nbsp;&nbsp; $31.15 |
| Total return (%) (r)(s)(t)(x) | 8.92<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.84 | &nbsp;&nbsp;&nbsp;&nbsp;20.26 | &nbsp;&nbsp; (1.73)<br>| &nbsp;&nbsp; (5.51)<br>| &nbsp;&nbsp;&nbsp;&nbsp;38.61 |
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.12<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 |
| Expenses after expense reductions (h) | N/A | N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.13 |
| Net investment income (loss) (l) | 0.16<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.55 | &nbsp;&nbsp;&nbsp;&nbsp;1.34 | &nbsp;&nbsp;&nbsp;&nbsp;2.00 | &nbsp;&nbsp;&nbsp;&nbsp;3.31 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $131897 | &nbsp;&nbsp; $142374 | &nbsp;&nbsp; $151061 | &nbsp;&nbsp; $167605 | &nbsp;&nbsp; $183201 | &nbsp;&nbsp; $200635 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** |
| **Class R6** | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22(i)** |
| Net asset value, beginning of period | $31.95 | &nbsp;&nbsp; $30.58 | &nbsp;&nbsp; $26.29 | &nbsp;&nbsp; $27.97 | &nbsp;&nbsp; $32.28 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.04 | &nbsp;&nbsp; $0.52 | &nbsp;&nbsp; $0.40 | &nbsp;&nbsp; $0.53 | &nbsp;&nbsp; $0.01 |
| Net realized and unrealized gain (loss) | 2.83 | &nbsp;&nbsp;&nbsp;&nbsp;2.45 | &nbsp;&nbsp;&nbsp;&nbsp;4.88 | &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (2.12)<br>|
| Total from investment operations | $2.87 | &nbsp;&nbsp; $2.97 | &nbsp;&nbsp; $5.28 | &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $(2.11)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(0.36)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(1.04)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (1.16)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.60)<br>| &nbsp;&nbsp; $(0.99)<br>| &nbsp;&nbsp; $(1.17)<br>| &nbsp;&nbsp; $(2.20)<br>|
| Net asset value, end of period (x) | $34.82 | &nbsp;&nbsp; $31.95 | &nbsp;&nbsp; $30.58 | &nbsp;&nbsp; $26.29 | &nbsp;&nbsp; $27.97 |
| Total return (%) (r)(s)(t)(x) | 8.98<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.89 | &nbsp;&nbsp;&nbsp;&nbsp;20.37 | &nbsp;&nbsp; (1.64)<br>| &nbsp;&nbsp; (7.35)(n)<br>|
| **Ratios (%) (to average net assets) and Supplemental data:** |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.04<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> (a)<br>|
| Expenses after expense reductions (h) | N/A | N/A | N/A | &nbsp;&nbsp;&nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> (a)<br>|
| Net investment income (loss) (l) | 0.23<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.65 | &nbsp;&nbsp;&nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;&nbsp;2.03 | &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> (a)<br>|
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 13 |
| Net assets at end of period (000 omitted) | $341437 | &nbsp;&nbsp; $328730 | &nbsp;&nbsp; $311437 | &nbsp;&nbsp; $214147 | &nbsp;&nbsp; $186590 |

---

**See Notes to Financial Statements**

------

*Financial Highlights - continued*

**MFS Aggressive Growth Allocation Fund - continued**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(h) In addition to the fees and expenses which the fund bears directly, the fund indirectly
 bears a pro rata share of the fees and expenses of the underlying affiliated funds in which the fund invests. Accordingly, the expense ratio for the
 fund reflects only those fees and expenses borne directly by the fund. Because the underlying affiliated funds have varied expense and fee levels and the fund may
 own different proportions of the underlying affiliated funds at different times, the amount of fees and expenses incurred indirectly by the fund will vary.

&nbsp;&nbsp;&nbsp;&nbsp;(i) For Class R6, the period is from the class inception, September 30, 2021, through
 the stated period end.

&nbsp;&nbsp;&nbsp;&nbsp;(l) Recognition of net investment income by the fund may be affected by the timing of
 the declaration of dividends by the underlying affiliated funds in which the fund invests and for interim net investment income ratios, the actual annual net
 investment income ratio may differ. The ratios and per share amounts do not include net investment income of the underlying affiliated funds in which the
 fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

**Notes to Financial Statements** 

(unaudited)

**(1) Business and Organization**

MFS Conservative Allocation Fund, MFS Moderate Allocation Fund, MFS Growth Allocation Fund, and MFS Aggressive Growth Allocation Fund (the funds) are each a diversified series of MFS Series Trust X (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.

Each fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(2) Significant Accounting Policies**

**General** — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of each fund's Statement of Assets and Liabilities through the date that the financial statements were issued.

Each fund is a "fund of funds", which invests the majority of its assets in other MFS mutual funds (hereafter referred to as "underlying affiliated funds" or "underlying funds"), which may have different fiscal year ends than the funds. The underlying funds, in turn, may engage in a number of investment techniques and practices, which involve certain risks. Certain underlying funds invest their portfolio in high-yield securities rated below investment grade. Investments in below investment grade quality securities can involve a substantially greater risk of default or can already be in default, and their values can decline significantly. Below investment grade quality securities tend to be more sensitive to adverse news about the issuer, or the market or economy in general, than higher quality debt instruments. Certain underlying funds invest a significant portion of their assets in asset-backed and/or mortgage-backed securities. For these securities, the value of the debt instrument also depends on the credit quality and adequacy of the underlying assets or collateral as well as whether there is a security interest in the underlying assets or collateral. Enforcing rights, if any, against the underlying assets or collateral may be difficult. U.S. Government securities not supported as to the payment of principal or interest by the U.S. Treasury, such as those issued by Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, are subject to greater credit risk than are U.S. Government securities supported by the U.S. Treasury, such as those issued by Ginnie Mae. Certain underlying funds invest in foreign securities, including securities of emerging market issuers. Investments in foreign securities are vulnerable to the effects of changes in the relative values of the local currency and the U.S. dollar and to the effects of changes in each country's market, economic, industrial, political, regulatory, geopolitical, environmental, public health, and other conditions. Investments tied economically to emerging markets, especially frontier markets, can involve additional and greater risks than the risks associated with investments in developed markets. Emerging markets can have less developed markets, greater custody and operational risk, less developed legal, regulatory, and accounting systems, greater government involvement in the economy, greater risk of new or inconsistent government treatment of or restrictions on issuers and instruments, and greater political, social, geopolitical, and economic instability than developed markets.

The accounting policies of the underlying funds in which each fund invests are outlined in the underlying funds' financial statements, which are available without charge by calling 1-800-225-2606, at mfs.com and on the Securities and Exchange Commission (SEC) web site at http://www.sec.gov. The underlying funds' financial statements are not covered by this report.

**Operating Segments** — An operating segment is defined in FASB Accounting Standards Codification Topic 280-Segment Reporting as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the entity's chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available. Each fund represents a single operating segment and the Chairman's Committee of the funds' adviser acts as the segment's CODM. Each fund's total returns, expense ratios, and changes in net assets which are used by the CODM to assess segment performance and to make resource allocation decisions to the segment are consistent with that presented within each fund's financial statements.

**Investment Valuations** — Open-end investment companies (underlying funds) are generally valued at their net asset value per share. The investments of underlying funds managed by the adviser are valued as described below. For purposes of this policy disclosure, "fund" also refers to the underlying funds in which the fund-of-funds invests.

Subject to its oversight, the funds' Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of each fund's investments to MFS as the funds' adviser, pursuant to each fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of each fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

------

*Notes to Financial Statements (unaudited) - continued* 

Under each fund's valuation policy and procedures, equity securities, including restricted equity securities and equity securities sold short, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Equity securities sold short, for which there were no sales reported that day, are generally valued at the last quoted daily ask quotation on their primary market or exchange as provided by a third-party pricing service. Debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Debt instruments sold short are generally valued at an evaluated or composite mean as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Exchange-traded options are generally valued at the last sale or official closing price on their primary exchange as provided by a third-party pricing service. Exchange-traded options for which there were no sales reported that day are generally valued at the last daily bid quotation on their primary exchange as provided by a third-party pricing service. For put options, the position may be valued at the last daily ask quotation if there are no trades reported during the day. Options not traded on an exchange are generally valued at a broker/dealer bid quotation. Foreign currency options are generally valued at valuations provided by a third-party pricing service. Futures contracts are generally valued at last posted settlement price on their primary exchange as provided by a third-party pricing service. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation on their primary exchange as provided by a third-party pricing service. Forward foreign currency exchange contracts are generally valued at the mean of bid and asked prices for the time period interpolated from rates provided by a third-party pricing service for proximate time periods. Swap agreements are generally valued using valuations provided by a third-party pricing service, which for cleared swaps includes an evaluation of any trading activity at the clearinghouses. Open-end investment companies are generally valued at net asset value per share. Funds traded on a recognized securities exchange (such as Exchange Traded Funds or Closed End Funds) are generally valued at the official closing price on their primary market or exchange as provided by a third-party pricing service. If no sales are reported that day for these funds, generally they will be valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under each fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. Pricing services generally value debt instruments assuming orderly transactions of institutional round lot sizes, but a fund may hold or transact in such securities in smaller, odd lot sizes. In instances where a fund holds an odd lot size position in a debt instrument, such position will typically be valued using the pricing agent's institutional round lot price for the debt instrument. Odd lots may trade at lower prices than institutional round lots, and the fund may receive different prices when it sells odd lot positions than it would receive for sales of institutional round lot positions. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of each fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund's net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund's foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating each fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine each fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that each fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which each fund determines its net asset value per share.

Various inputs are used in determining the value of each fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Each fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities,

------

*Notes to Financial Statements (unaudited) - continued* 

interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of November 30, 2025 in valuing each fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **MFS Conservative Allocation Fund** |  |  |  |  |
| **Financial Instruments** |  |  |  |  |
| Investment Companies | &nbsp;&nbsp; $2922838959 | &nbsp;&nbsp; $764077109 | $— | &nbsp;&nbsp; $3686916068 |
| **MFS Moderate Allocation Fund** |  |  |  |  |
| **Financial Instruments** |  |  |  |  |
| Investment Companies | &nbsp;&nbsp; $4842493145 | &nbsp;&nbsp; $1693693075 | $— | &nbsp;&nbsp; $6536186220 |
| **MFS Growth Allocation Fund** |  |  |  |  |
| **Financial Instruments** |  |  |  |  |
| Investment Companies | &nbsp;&nbsp; $5236119438 | &nbsp;&nbsp; $1484625078 | $— | &nbsp;&nbsp; $6720744516 |
| **MFS Aggressive Growth Allocation Fund** |  |  |  |  |
| **Financial Instruments** |  |  |  |  |
| Investment Companies | &nbsp;&nbsp; $2142294208 | &nbsp;&nbsp; $837058159 | $— | &nbsp;&nbsp; $2979352367 |

---

For further information regarding security characteristics, see the Portfolio of Investments. Please refer to the underlying funds' financial statements for further information regarding the levels used in valuing the underlying funds' assets and liabilities.

**Derivatives** — Each fund does not invest in derivatives directly. Each fund does invest in underlying funds that may use derivatives primarily to increase or decrease exposure to a particular market or segment of the market, or security, to increase or decrease interest rate or currency exposure, or as alternatives to direct investments. Derivatives are used for hedging or non-hedging purposes. While hedging can reduce or eliminate losses, it can also reduce or eliminate gains. When the underlying funds use derivatives as an investment to increase market exposure, or for hedging purposes, gains and losses from derivative instruments may be substantially greater than the derivative's original cost.

**Indemnifications** — Under each fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to each fund. Additionally, in the normal course of business, each fund enters into agreements with service providers that may contain indemnification clauses. Each fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against each fund that have not yet occurred.

**Investment Transactions and Income** — Interest income is recorded on the accrual basis. All premium and discount is amortized or accreted for financial statement purposes in accordance with U.S. generally accepted accounting principles. Distributions of income and capital gains from the underlying funds are recorded on the ex-dividend date. Recognition of net investment income and realized gain from affiliated issuers by each fund is affected by the timing of the declaration of distributions by the underlying funds in which each fund invests.

Each fund and/or the underlying funds may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statements of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statements of Operations.

Investment transactions are recorded on the trade date. In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis.

**Tax Matters and Distributions** — Each fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. Each fund's federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for generally a three year period. Management has analyzed each fund's tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability.

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.

------

*Notes to Financial Statements (unaudited) - continued* 

Book/tax differences primarily relate to wash sale loss deferrals and treating a portion of the proceeds from redemptions as a distribution for tax purposes, as applicable to each fund.

The tax character of distributions made during the current period will be determined at fiscal year end. The tax character of distributions declared to shareholders for the last fiscal year is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Year ended 5/31/25** | &nbsp;&nbsp; **MFS Conservative** <br>**Allocation Fund** <br>| &nbsp;&nbsp; **MFS Moderate** <br>**Allocation Fund** <br>| &nbsp;&nbsp; **MFS Growth** <br>**Allocation Fund** <br>| &nbsp;&nbsp; **MFS Aggressive Growth** <br>**Allocation Fund** <br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $119221725 | &nbsp;&nbsp; $173393089 | &nbsp;&nbsp; $148322381 | &nbsp;&nbsp; $43873190 |
| Long-term capital gains | &nbsp;&nbsp; 125202830 | &nbsp;&nbsp; 259005303 | &nbsp;&nbsp; 223755065 | &nbsp;&nbsp; 90188038 |
| Total distributions | &nbsp;&nbsp; $244424555 | &nbsp;&nbsp; $432398392 | &nbsp;&nbsp; $372077446 | &nbsp;&nbsp; $134061228 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **As of 11/30/25** | &nbsp;&nbsp; **MFS Conservative** <br>**Allocation Fund**<br>| &nbsp;&nbsp; **MFS Moderate** <br>**Allocation Fund**<br>| &nbsp;&nbsp; **MFS Growth** <br>**Allocation Fund**<br>| &nbsp;&nbsp; **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| Cost of investments | &nbsp;&nbsp; $2989293996 | &nbsp;&nbsp; $4454439574 | &nbsp;&nbsp; $3823800604 | &nbsp;&nbsp; $1494003757 |
| Gross appreciation | &nbsp;&nbsp; 783721777 | &nbsp;&nbsp; 2202353036 | &nbsp;&nbsp; 2924380036 | &nbsp;&nbsp; 1485348610 |
| Gross depreciation | &nbsp;&nbsp; (86099705)<br>| &nbsp;&nbsp; (120606390)<br>| &nbsp;&nbsp; (27436124)<br>|  |
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $697622072 | &nbsp;&nbsp; $2081746646 | &nbsp;&nbsp; $2896943912 | &nbsp;&nbsp; $1485348610 |
| <br>**As of 5/31/25** |  |  |  |  |
| Undistributed ordinary income | &nbsp;&nbsp; 16015104 | &nbsp;&nbsp; 21142205 | &nbsp;&nbsp; 20775298 | &nbsp;&nbsp; 1076382 |
| Undistributed long-term capital gain | &nbsp;&nbsp; 97392934 | &nbsp;&nbsp; 241113508 | &nbsp;&nbsp; 285539368 | &nbsp;&nbsp; 145861859 |
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; 538187995 | &nbsp;&nbsp; 1750837120 | &nbsp;&nbsp; 2473700453 | &nbsp;&nbsp; 1257573396 |

---

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

**Multiple Classes of Shares of Beneficial Interest** — Each fund offers multiple classes of shares, which differ in their respective distribution and service fees. Each fund's income, realized and unrealized gain (loss), and common expenses are allocated to shareholders based on the daily net assets of each class. Dividends are declared separately for each class. Differences in per share dividend rates are generally due to differences in separate class expenses. Class B and Class C shares will convert to Class A shares approximately eight years after purchase. Each fund's distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **MFS Conservative** <br>**Allocation Fund** | **MFS Conservative** <br>**Allocation Fund** | **MFS Moderate** <br>**Allocation Fund** | **MFS Moderate** <br>**Allocation Fund** | **MFS Growth** <br>**Allocation Fund** | **MFS Growth** <br>**Allocation Fund** | **MFS Aggressive Growth** <br>**Allocation Fund** | **MFS Aggressive Growth** <br>**Allocation Fund** |
|  | **Six Months** <br> **Ended** <br>**11/30/25**<br>| **Year Ended** <br>**5/31/25**<br>| **Six Months** <br> **Ended** <br>**11/30/25**<br>| **Year Ended** <br>**5/31/25**<br>| **Six Months** <br> **Ended** <br>**11/30/25**<br>| **Year Ended** <br>**5/31/25**<br>| **Six Months** <br> **Ended** <br>**11/30/25**<br>| **Year Ended** <br>**5/31/25**<br>|
| Class A | $30767375 | $173610804 | $38669738 | $332680004 | $— | $276235793 | $— | $81027423 |
| Class B | 40352 | 437298 | 39205 | 1181919 |  | 1156948 |  | 467495 |
| Class C | 1448964 | 12240103 | 1124819 | 19316733 |  | 18173230 |  | 9818174 |
| Class I | 4678766 | 24962524 | 3450079 | 26840374 |  | 22354706 |  | 12665931 |
| Class R1 | 62067 | 523339 | 63229 | 976822 |  | 779624 |  | 436843 |
| Class R2 | 353819 | 2261037 | 507260 | 5323264 |  | 5424146 |  | 2252056 |
| Class R3 | 705170 | 4284937 | 906751 | 9217877 |  | 6164688 |  | 3667987 |
| Class R4 | 3917203 | 18189879 | 1487298 | 14579421 |  | 14604500 |  | 7409111 |
| Class R6 | 1574770 | 7914634 | 2682384 | 22281978 |  | 27183811 |  | 16316208 |
| Total | $43548486 | $244424555 | $48930763 | $432398392 | $— | $372077446 | $— | $134061228 |

---

**(3) Transactions with Affiliates**

**Investment Adviser** — Each fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the funds. MFS receives no compensation under this agreement; however MFS receives management fees from the underlying MFS funds.

------

*Notes to Financial Statements (unaudited) - continued* 

The investment adviser has agreed in writing to pay a portion of the following funds' operating expenses, excluding distribution and service fees, interest, taxes, extraordinary expenses, brokerage and transaction costs, and investment-related expenses including fees and expenses associated with investments in investment companies and other similar investment vehicles, such that operating expenses do not exceed the following rates annually of these funds' average daily net assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MFS Conservative** <br>**Allocation Fund**<br>| &nbsp;&nbsp; **MFS Moderate** <br>**Allocation Fund**<br>| &nbsp;&nbsp; **MFS Growth** <br>**Allocation Fund**<br>| &nbsp;&nbsp; **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| Class A | 0.10% | 0.10% | 0.10% | 0.13% |
| Class B | 0.10% | 0.10% | 0.10% | 0.13% |
| Class C | 0.10% | 0.10% | 0.10% | 0.13% |
| Class I | 0.10% | 0.10% | 0.10% | 0.13% |
| Class R1 | 0.10% | 0.10% | 0.10% | 0.13% |
| Class R2 | 0.10% | 0.10% | 0.10% | 0.13% |
| Class R3 | 0.10% | 0.10% | 0.10% | 0.13% |
| Class R4 | 0.10% | 0.10% | 0.10% | 0.13% |
| Class R6 | 0.03% | 0.02% | 0.02% | 0.05% |

---

These written agreements will continue until modified by the funds' Board of Trustees, but such agreements will continue at least until September 30, 2026. For the six months ended November 30, 2025, these reductions amounted to $272,685 for the MFS Moderate Allocation Fund and $449,928 for the MFS Growth Allocation Fund. Each reduction is included in the reduction of total expenses in the Statements of Operations. For the six months ended November 30, 2025, the actual operating expenses for the MFS Conservative Allocation Fund and the MFS Aggressive Growth Allocation Fund did not exceed the limits described above and therefore, the investment adviser did not pay any portion of these funds' expenses related to this agreement.

In addition to the fees and expenses which each fund bears directly, each fund indirectly bears a pro rata share of the fees and expenses of the underlying funds in which each fund invests. Accordingly, the expense ratio for each fund reflects only those fees and expenses borne directly by each fund.

**Distributor** — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received the following amounts for the six months ended November 30, 2025, as its portion of the initial sales charge on sales of Class A shares of each fund:

---

| | | | |
|:---|:---|:---|:---|
| **MFS Conservative** <br>**Allocation Fund**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **MFS Moderate** <br>**Allocation Fund**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **MFS Growth** <br>**Allocation Fund**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| $52232 | $166342 | $285632 | $163084 |

---

The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.

Each fund's distribution plan provides that each fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries. The distribution and service fees are computed daily and paid monthly.

**Distribution Plan Fee Table:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class A**  | **Class A**  | **Class A**  | **Class A**  | **Class A**  |
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| MFS Conservative Allocation Fund |  | 0.25% | 0.25% | 0.25% | $3282454 |
| MFS Moderate Allocation Fund |  | 0.25% | 0.25% | 0.25% | 6455875 |
| MFS Growth Allocation Fund |  | 0.25% | 0.25% | 0.25% | 6354229 |
| MFS Aggressive Growth Allocation Fund |  | 0.25% | 0.25% | 0.25% | 2283807 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class B**  | **Class B**  | **Class B**  | **Class B**  | **Class B**  |
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| MFS Conservative Allocation Fund | 0.75% | 0.25% | 1.00% | 1.00% | $26184 |
| MFS Moderate Allocation Fund | 0.75% | 0.25% | 1.00% | 1.00% | 60572 |
| MFS Growth Allocation Fund | 0.75% | 0.25% | 1.00% | 1.00% | 81109 |
| MFS Aggressive Growth Allocation Fund | 0.75% | 0.25% | 1.00% | 1.00% | 42116 |

---

------

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class C**  | **Class C**  | **Class C**  | **Class C**  | **Class C**  |
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| MFS Conservative Allocation Fund | 0.75% | 0.25% | 1.00% | 1.00% | $892896 |
| MFS Moderate Allocation Fund | 0.75% | 0.25% | 1.00% | 1.00% | 1440810 |
| MFS Growth Allocation Fund | 0.75% | 0.25% | 1.00% | 1.00% | 1701507 |
| MFS Aggressive Growth Allocation Fund | 0.75% | 0.25% | 1.00% | 1.00% | 1204429 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class R1**  | **Class R1**  | **Class R1**  | **Class R1**  | **Class R1**  |
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| MFS Conservative Allocation Fund | 0.75% | 0.25% | 1.00% | 1.00% | $36813 |
| MFS Moderate Allocation Fund | 0.75% | 0.25% | 1.00% | 1.00% | 76844 |
| MFS Growth Allocation Fund | 0.75% | 0.25% | 1.00% | 1.00% | 73444 |
| MFS Aggressive Growth Allocation Fund | 0.75% | 0.25% | 1.00% | 1.00% | 55942 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class R2** | **Class R2** | **Class R2** | **Class R2** | **Class R2** |
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| MFS Conservative Allocation Fund | 0.25% | 0.25% | 0.50% | 0.50% | $80830 |
| MFS Moderate Allocation Fund | 0.25% | 0.25% | 0.50% | 0.50% | 192254 |
| MFS Growth Allocation Fund | 0.25% | 0.25% | 0.50% | 0.50% | 224148 |
| MFS Aggressive Growth Allocation Fund | 0.25% | 0.25% | 0.50% | 0.50% | 108670 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class R3** | **Class R3** | **Class R3** | **Class R3** | **Class R3** |
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| MFS Conservative Allocation Fund |  | 0.25% | 0.25% | 0.25% | $74782 |
| MFS Moderate Allocation Fund |  | 0.25% | 0.25% | 0.25% | 150351 |
| MFS Growth Allocation Fund |  | 0.25% | 0.25% | 0.25% | 124411 |
| MFS Aggressive Growth Allocation Fund |  | 0.25% | 0.25% | 0.25% | 101830 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **MFS Conservative** <br>**Allocation Fund**<br>| &nbsp;&nbsp;&nbsp; **MFS Moderate** <br>**Allocation Fund**<br>| &nbsp;&nbsp;&nbsp; **MFS Growth** <br>**Allocation Fund**<br>| &nbsp;&nbsp;&nbsp; **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| Total Distribution and Service Fees | $4393959 | $8376706 | $8558848 | $3796794 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(d) In accordance with the distribution plan for certain classes, each fund pays distribution and/or service fees equal to these annual percentage rates of

each class's average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the

reporting period. Any rate changes, if applicable, are detailed below.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The annual effective rates represent actual fees incurred under the distribution plan for the six months ended November 30, 2025 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended November 30, 2025, these rebates amounted to the following and are included in the reduction of total expenses in the Statements of Operations:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MFS Conservative** <br>**Allocation Fund**<br>| **MFS Moderate** <br>**Allocation Fund**<br>| **MFS Growth** <br>**Allocation Fund**<br>| **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| Class A | $331 | $1244 | $2333 | $4296 |
| Class B |  | 91 | 54 | 115 |
| Class C | 106 | 427 | 697 | 478 |
| Class R2 |  |  | 2 |  |

---

------

*Notes to Financial Statements (unaudited) - continued* 

Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class B shares are subject to a CDSC in the event of a shareholder redemption within six years of purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD and during the six months ended November 30, 2025, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CDSC Imposed** | **MFS Conservative** <br>**Allocation Fund**<br>| **MFS Moderate** <br>**Allocation Fund**<br>| **MFS Growth** <br>**Allocation Fund**<br>| **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| Class A | $67617 | $76525 | $80191 | $28017 |
| Class B |  |  |  |  |
| Class C | 4372 | 13324 | 18010 | 17822 |

---

**Shareholder Servicing Agent** — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from each fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of each fund as determined periodically under the supervision of the funds' Board of Trustees. For the six months ended November 30, 2025, each fund paid the following fee, which equated to the following annual percentage of each fund's average daily net assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MFS Conservative** <br>**Allocation Fund**<br>| **MFS Moderate** <br>**Allocation Fund**<br>| **MFS Growth** <br>**Allocation Fund**<br>| **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| Expenses paid | $153810 | $394884 | $534712 | $285479 |
| Annual percentage of average daily net assets | 0.0083% | 0.0120% | 0.0159% | 0.0193% |

---

MFSC also receives reimbursement from each fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the six months ended November 30, 2025, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to the following:

---

| | | | |
|:---|:---|:---|:---|
| **MFS Conservative** <br>**Allocation Fund**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **MFS Moderate** <br>**Allocation Fund**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **MFS Growth** <br>**Allocation Fund**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| $1220340 | $2160324 | $2319906 | $1093919 |

---

**Administrator** – MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to each fund. Under an administrative services agreement, each fund reimburses MFS the costs incurred to provide these services. Each fund pays an annual fixed amount of $17,500. The administrative services fee is computed daily and paid monthly. The administrative services fee incurred for the six months ended November 30, 2025 was equivalent to the following annual effective rates of each fund's average daily net assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MFS Conservative** <br>**Allocation Fund**<br>| **MFS Moderate** <br>**Allocation Fund**<br>| **MFS Growth** <br>**Allocation Fund**<br>| **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| Percentage of average daily net assets | 0.0005% | 0.0003% | 0.0003% | 0.0006% |

---

**Trustees' and Officers' Compensation** — Each fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. Independent Trustees' compensation is accrued daily and paid subsequent to each Trustee Board meeting. The funds do not pay compensation directly to Trustees or officers of each fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to each fund. Certain officers and Trustees of each fund are officers or directors of MFS, MFD, and MFSC.

**Other** — Each fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.

MFS purchased or redeemed fund shares on the dates indicated:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| MFS Conservative Allocation Fund | 8/19/2024 | Redemption | Class A | 3 | $51 |
| MFS Conservative Allocation Fund | 8/19/2024 | Redemption | Class B | 5 | 90 |
| MFS Conservative Allocation Fund | 8/19/2024 | Redemption | Class I | 4 | 67 |
| MFS Conservative Allocation Fund | 8/19/2024 | Redemption | Class R1 | 3 | 54 |
| MFS Conservative Allocation Fund | 8/19/2024 | Redemption | Class R2 | 4 | 59 |
| MFS Conservative Allocation Fund | 8/19/2024 | Redemption | Class R3 | 4 | 63 |
| MFS Conservative Allocation Fund | 8/19/2024 | Redemption | Class R4 | 2 | 29 |
| MFS Moderate Allocation Fund | 8/19/2024 | Redemption | Class A | 4 | 74 |
| MFS Moderate Allocation Fund | 8/19/2024 | Redemption | Class B | 5 | 110 |
| MFS Moderate Allocation Fund | 8/19/2024 | Redemption | Class I | 4 | 85 |

---

------

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| MFS Moderate Allocation Fund | 8/19/2024 | Redemption | Class R1 | 4 | 69 |
| MFS Moderate Allocation Fund | 8/19/2024 | Redemption | Class R2 | 4 | 74 |
| MFS Moderate Allocation Fund | 8/19/2024 | Redemption | Class R3 | 4 | 80 |
| MFS Moderate Allocation Fund | 8/19/2024 | Redemption | Class R4 | 2 | 36 |
| MFS Growth Allocation Fund | 8/19/2024 | Redemption | Class B | 5 | 132 |
| MFS Growth Allocation Fund | 8/19/2024 | Redemption | Class I | 4 | 106 |
| MFS Growth Allocation Fund | 8/19/2024 | Redemption | Class R1 | 4 | 85 |
| MFS Growth Allocation Fund | 8/19/2024 | Redemption | Class R2 | 4 | 89 |
| MFS Growth Allocation Fund | 8/19/2024 | Redemption | Class R3 | 4 | 100 |
| MFS Growth Allocation Fund | 8/19/2024 | Redemption | Class R4 | 2 | 45 |
| MFS Aggressive Growth Allocation Fund | 7/10/2024 | Redemption | Class B | 5 | 150 |
| MFS Aggressive Growth Allocation Fund | 7/10/2024 | Redemption | Class R4 | 2 | 51 |
| MFS Aggressive Growth Allocation Fund | 7/10/2024 | Redemption | Class R6 | 2 | 74 |
| MFS Aggressive Growth Allocation Fund | 8/19/2024 | Redemption | Class C | 4 | 120 |
| MFS Aggressive Growth Allocation Fund | 8/19/2024 | Redemption | Class I | 4 | 120 |
| MFS Aggressive Growth Allocation Fund | 8/19/2024 | Redemption | Class R1 | 3 | 97 |
| MFS Aggressive Growth Allocation Fund | 8/19/2024 | Redemption | Class R2 | 3 | 100 |
| MFS Aggressive Growth Allocation Fund | 8/19/2024 | Redemption | Class R3 | 4 | 113 |

---

**(4) Portfolio Securities**

For the six months ended November 30, 2025, purchases and sales of shares of underlying funds, excluding the MFS Institutional Money Market Portfolio, aggregated to the following:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MFS Conservative** <br>**Allocation Fund**<br>| &nbsp;&nbsp; **MFS Moderate** <br>**Allocation Fund**<br>| &nbsp;&nbsp; **MFS Growth** <br>**Allocation Fund**<br>| &nbsp;&nbsp; **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| Purchases | $31311115 | $215611126 | $171541291 | $16425750 |
| Sales | $189580945 | $500430583 | $446646921 | $142027741 |

---

**(5) Shares of Beneficial Interest** 

Each fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **MFS Conservative Allocation Fund** | **MFS Conservative Allocation Fund** | **MFS Conservative Allocation Fund** | **MFS Conservative Allocation Fund** | **MFS Moderate Allocation Fund** | **MFS Moderate Allocation Fund** | **MFS Moderate Allocation Fund** | **MFS Moderate Allocation Fund** |
|  | **Six Months Ended** <br>**11/30/25**  | **Six Months Ended** <br>**11/30/25**  | **Year ended** <br>**5/31/25**  | **Year ended** <br>**5/31/25**  | **Six Months Ended** <br>**11/30/25**  | **Six Months Ended** <br>**11/30/25**  | **Year ended** <br>**5/31/25**  | **Year ended** <br>**5/31/25**  |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |  |  |  |  |
| Class A | 9536931 | $164549692 | &nbsp;&nbsp; 24668351 | $417007678 | &nbsp;&nbsp; 12072121 | $250338281 | &nbsp;&nbsp; 31123429 | $621026990 |
| Class B | 1265 | 21517 | &nbsp;&nbsp; 4366 | 73028 |  |  | &nbsp;&nbsp; 9544 | 193976 |
| Class C | 341907 | 5780025 | &nbsp;&nbsp; 1014706 | 16740633 | &nbsp;&nbsp; 773925 | 15640070 | &nbsp;&nbsp; 1733476 | 33671777 |
| Class I | 2367305 | 41241329 | &nbsp;&nbsp; 4504287 | 76290545 | &nbsp;&nbsp; 2167868 | 45863039 | &nbsp;&nbsp; 4310174 | 87730922 |
| Class R1 | 23099 | 381040 | &nbsp;&nbsp; 67262 | 1088125 | &nbsp;&nbsp; 23684 | 463597 | &nbsp;&nbsp; 79868 | 1504879 |
| Class R2 | 112487 | 1869653 | &nbsp;&nbsp; 319083 | 5176183 | &nbsp;&nbsp; 143074 | 2869134 | &nbsp;&nbsp; 375570 | 7219374 |
| Class R3 | 165896 | 2826661 | &nbsp;&nbsp; 612624 | 10197244 | &nbsp;&nbsp; 315182 | 6506710 | &nbsp;&nbsp; 750703 | 14825055 |
| Class R4 | 471898 | 8135238 | &nbsp;&nbsp; 6486904 | 108073530 | &nbsp;&nbsp; 485713 | 10049462 | &nbsp;&nbsp; 1762560 | 35116393 |
| Class R6 | 1512284 | 26440308 | &nbsp;&nbsp; 2436707 | 41589155 | &nbsp;&nbsp; 1179736 | 25036405 | &nbsp;&nbsp; 3147039 | 63903868 |
|  | 14533072 | $251245463 | &nbsp;&nbsp; 40114290 | $676236121 | &nbsp;&nbsp; 17161303 | $356766698 | &nbsp;&nbsp; 43292363 | $865193234 |

---

------

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **MFS Conservative Allocation Fund - continued** | **MFS Conservative Allocation Fund - continued** | **MFS Conservative Allocation Fund - continued** | **MFS Conservative Allocation Fund - continued** | **MFS Moderate Allocation Fund - continued** | **MFS Moderate Allocation Fund - continued** | **MFS Moderate Allocation Fund - continued** | **MFS Moderate Allocation Fund - continued** |
|  | **Six Months Ended**<br> **11/30/25**  | **Six Months Ended**<br> **11/30/25**  | **Year ended**<br> **5/31/25**  | **Year ended**<br> **5/31/25**  | **Six Months Ended**<br> **11/30/25**  | **Six Months Ended**<br> **11/30/25**  | **Year ended**<br> **5/31/25**  | **Year ended**<br> **5/31/25**  |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares issued to shareholders in <br>reinvestment of distributions<br>|  |  |  |  |  |  |  |  |
| Class A | 1741296 | $29805644 | &nbsp;&nbsp; 10165276 | $168017641 | &nbsp;&nbsp; 1833211 | $37774649 | &nbsp;&nbsp; 16662359 | $324924623 |
| Class B | 2359 | 40351 | &nbsp;&nbsp; 26520 | 437290 | &nbsp;&nbsp; 1925 | 39205 | &nbsp;&nbsp; 61483 | 1181317 |
| Class C | 83748 | 1409432 | &nbsp;&nbsp; 730574 | 11850041 | &nbsp;&nbsp; 54728 | 1100517 | &nbsp;&nbsp; 992233 | 18832598 |
| Class I | 235856 | 4086680 | &nbsp;&nbsp; 1281353 | 21440587 | &nbsp;&nbsp; 142577 | 2994336 | &nbsp;&nbsp; 1152858 | 22921747 |
| Class R1 | 3794 | 62067 | &nbsp;&nbsp; 33162 | 523339 | &nbsp;&nbsp; 3249 | 63229 | &nbsp;&nbsp; 53050 | 976822 |
| Class R2 | 21461 | 353798 | &nbsp;&nbsp; 141967 | 2260917 | &nbsp;&nbsp; 25305 | 505812 | &nbsp;&nbsp; 280658 | 5309541 |
| Class R3 | 41636 | 705170 | &nbsp;&nbsp; 261653 | 4278256 | &nbsp;&nbsp; 44500 | 906751 | &nbsp;&nbsp; 477689 | 9217877 |
| Class R4 | 210351 | 3603262 | &nbsp;&nbsp; 1003142 | 16600991 | &nbsp;&nbsp; 53140 | 1091935 | &nbsp;&nbsp; 585361 | 11407456 |
| Class R6 | 85867 | 1487479 | &nbsp;&nbsp; 464922 | 7775177 | &nbsp;&nbsp; 127457 | 2676125 | &nbsp;&nbsp; 1118392 | 22237388 |
|  | 2426368 | $41553883 | &nbsp;&nbsp; 14108569 | $233184239 | &nbsp;&nbsp; 2286092 | $47152559 | &nbsp;&nbsp; 21384083 | $417009369 |
| Shares reacquired |  |  |  |  |  |  |  |  |
| Class A | (15740137)<br>| $(271164286)<br>| &nbsp;&nbsp; (38132712)<br>| $(642036450)<br>| &nbsp;&nbsp; (21723648)<br>| $(450578277)<br>| &nbsp;&nbsp; (51278470)<br>| $(1022359326)<br>|
| Class B | (78526)<br>| (1352201)<br>| &nbsp;&nbsp; (332595)<br>| (5615489)<br>| &nbsp;&nbsp; (223251)<br>| (4572016)<br>| &nbsp;&nbsp; (765621)<br>| (15054672)<br>|
| Class C | (1748875)<br>| (29561057)<br>| &nbsp;&nbsp; (4579083)<br>| (75825309)<br>| &nbsp;&nbsp; (2285776)<br>| (46146198)<br>| &nbsp;&nbsp; (6324379)<br>| (122964427)<br>|
| Class I | (3396476)<br>| (59257686)<br>| &nbsp;&nbsp; (7406469)<br>| (126105452)<br>| &nbsp;&nbsp; (2630228)<br>| (55711151)<br>| &nbsp;&nbsp; (7494485)<br>| (152618710)<br>|
| Class R1 | (49264)<br>| (814170)<br>| &nbsp;&nbsp; (188988)<br>| (3016114)<br>| &nbsp;&nbsp; (108097)<br>| (2126022)<br>| &nbsp;&nbsp; (314508)<br>| (6047636)<br>|
| Class R2 | (239972)<br>| (3990778)<br>| &nbsp;&nbsp; (911181)<br>| (14807526)<br>| &nbsp;&nbsp; (664365)<br>| (13394164)<br>| &nbsp;&nbsp; (1135754)<br>| (21928169)<br>|
| Class R3 | (341879)<br>| (5855845)<br>| &nbsp;&nbsp; (1434683)<br>| (23802812)<br>| &nbsp;&nbsp; (756393)<br>| (15653499)<br>| &nbsp;&nbsp; (3326462)<br>| (65357579)<br>|
| Class R4 | (1911370)<br>| (33007684)<br>| &nbsp;&nbsp; (6107641)<br>| (101811796)<br>| &nbsp;&nbsp; (1890007)<br>| (39384286)<br>| &nbsp;&nbsp; (5172974)<br>| (102305901)<br>|
| Class R6 | (1382860)<br>| (24051837)<br>| &nbsp;&nbsp; (2044243)<br>| (34784718)<br>| &nbsp;&nbsp; (2327739)<br>| (48846430)<br>| &nbsp;&nbsp; (4211910)<br>| (85044850)<br>|
|  | (24889359)<br>| $(429055544)<br>| &nbsp;&nbsp; (61137595)<br>| $(1027805666)<br>| &nbsp;&nbsp; (32609504)<br>| $(676412043)<br>| &nbsp;&nbsp; (80024563)<br>| $(1593681270)<br>|
| Net change |  |  |  |  |  |  |  |  |
| Class A | (4461910)<br>| $(76808950)<br>| &nbsp;&nbsp; (3299085)<br>| $(57011131)<br>| &nbsp;&nbsp; (7818316)<br>| $(162465347)<br>| &nbsp;&nbsp; (3492682)<br>| $(76407713)<br>|
| Class B | (74902)<br>| (1290333)<br>| &nbsp;&nbsp; (301709)<br>| (5105171)<br>| &nbsp;&nbsp; (221326)<br>| (4532811)<br>| &nbsp;&nbsp; (694594)<br>| (13679379)<br>|
| Class C | (1323220)<br>| (22371600)<br>| &nbsp;&nbsp; (2833803)<br>| (47234635)<br>| &nbsp;&nbsp; (1457123)<br>| (29405611)<br>| &nbsp;&nbsp; (3598670)<br>| (70460052)<br>|
| Class I | (793315)<br>| (13929677)<br>| &nbsp;&nbsp; (1620829)<br>| (28374320)<br>| &nbsp;&nbsp; (319783)<br>| (6853776)<br>| &nbsp;&nbsp; (2031453)<br>| (41966041)<br>|
| Class R1 | (22371)<br>| (371063)<br>| &nbsp;&nbsp; (88564)<br>| (1404650)<br>| &nbsp;&nbsp; (81164)<br>| (1599196)<br>| &nbsp;&nbsp; (181590)<br>| (3565935)<br>|
| Class R2 | (106024)<br>| (1767327)<br>| &nbsp;&nbsp; (450131)<br>| (7370426)<br>| &nbsp;&nbsp; (495986)<br>| (10019218)<br>| &nbsp;&nbsp; (479526)<br>| (9399254)<br>|
| Class R3 | (134347)<br>| (2324014)<br>| &nbsp;&nbsp; (560406)<br>| (9327312)<br>| &nbsp;&nbsp; (396711)<br>| (8240038)<br>| &nbsp;&nbsp; (2098070)<br>| (41314647)<br>|
| Class R4 | (1229121)<br>| (21269184)<br>| &nbsp;&nbsp; 1382405 | 22862725 | &nbsp;&nbsp; (1351154)<br>| (28242889)<br>| &nbsp;&nbsp; (2825053)<br>| (55782052)<br>|
| Class R6 | 215291 | 3875950 | &nbsp;&nbsp; 857386 | 14579614 | &nbsp;&nbsp; (1020546)<br>| (21133900)<br>| &nbsp;&nbsp; 53521 | 1096406 |
|  | (7929919)<br>| $(136256198)<br>| &nbsp;&nbsp; (6914736)<br>| $(118385306)<br>| &nbsp;&nbsp; (13162109)<br>| $(272492786)<br>| &nbsp;&nbsp; (15348117)<br>| $(311478667)<br>|

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **MFS Growth Allocation Fund** | **MFS Growth Allocation Fund** | **MFS Growth Allocation Fund** | **MFS Growth Allocation Fund** | **MFS Aggressive Growth Allocation Fund** | **MFS Aggressive Growth Allocation Fund** | **MFS Aggressive Growth Allocation Fund** | **MFS Aggressive Growth Allocation Fund** |
|  | **Six Months Ended** <br>**11/30/25**  | **Six Months Ended** <br>**11/30/25**  | **Year ended** <br>**5/31/25**  | **Year ended** <br>**5/31/25**  | **Six Months Ended** <br>**11/30/25**  | **Six Months Ended** <br>**11/30/25**  | **Year ended** <br>**5/31/25**  | **Year ended** <br>**5/31/25**  |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |  |  |  |  |
| Class A | 8628965 | $227740436 | &nbsp;&nbsp; 22745576 | $566550595 | &nbsp;&nbsp; 2619384 | $86312016 | &nbsp;&nbsp; 7550516 | $230743445 |
| Class B | 372 | 9698 | &nbsp;&nbsp; 2810 | 69837 | &nbsp;&nbsp; 110 | 3646 | &nbsp;&nbsp; 1684 | 51989 |
| Class C | 734566 | 18935780 | &nbsp;&nbsp; 1712548 | 41666578 | &nbsp;&nbsp; 529121 | 16778383 | &nbsp;&nbsp; 1387656 | 40866461 |
| Class I | 1378031 | 36924559 | &nbsp;&nbsp; 3120584 | 78867780 | &nbsp;&nbsp; 863128 | 29098235 | &nbsp;&nbsp; 1515371 | 47406000 |
| Class R1 | 24886 | 623792 | &nbsp;&nbsp; 60941 | 1443345 | &nbsp;&nbsp; 13443 | 418422 | &nbsp;&nbsp; 37264 | 1078216 |
| Class R2 | 120186 | 3066810 | &nbsp;&nbsp; 302363 | 7260151 | &nbsp;&nbsp; 73085 | 2327640 | &nbsp;&nbsp; 195605 | 5850878 |
| Class R3 | 144811 | 3782219 | &nbsp;&nbsp; 371428 | 9154658 | &nbsp;&nbsp; 152237 | 4962665 | &nbsp;&nbsp; 337720 | 10252484 |
| Class R4 | 424255 | 11190794 | &nbsp;&nbsp; 1292809 | 32037345 | &nbsp;&nbsp; 289786 | 9600969 | &nbsp;&nbsp; 811630 | 24904568 |
| Class R6 | 1249331 | 33597347 | &nbsp;&nbsp; 3417592 | 86748437 | &nbsp;&nbsp; 675920 | 22847553 | &nbsp;&nbsp; 1785619 | 55930915 |
|  | 12705403 | $335871435 | &nbsp;&nbsp; 33026651 | $823798726 | &nbsp;&nbsp; 5216214 | $172349529 | &nbsp;&nbsp; 13623065 | $417084956 |

---

------

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **MFS Growth Allocation Fund - continued** | **MFS Growth Allocation Fund - continued** | **MFS Growth Allocation Fund - continued** | **MFS Growth Allocation Fund - continued** | **MFS Aggressive Growth Allocation Fund - continued** | **MFS Aggressive Growth Allocation Fund - continued** | **MFS Aggressive Growth Allocation Fund - continued** | **MFS Aggressive Growth Allocation Fund - continued** |
|  | **Six Months Ended**<br> **11/30/25**  | **Six Months Ended**<br> **11/30/25**  | **Year ended**<br> **5/31/25**  | **Year ended**<br> **5/31/25**  | **Six Months Ended**<br> **11/30/25**  | **Six Months Ended**<br> **11/30/25**  | **Year ended**<br> **5/31/25**  | **Year ended**<br> **5/31/25**  |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares issued to shareholders in <br>reinvestment of distributions<br>|  |  |  |  |  |  |  |  |
| Class A |  | $— | &nbsp;&nbsp; 11143012 | $270998049 |  | $— | &nbsp;&nbsp; 2631906 | $79167741 |
| Class B |  |  | &nbsp;&nbsp; 47308 | 1156693 |  |  | &nbsp;&nbsp; 15694 | 467382 |
| Class C |  |  | &nbsp;&nbsp; 751150 | 17914916 |  |  | &nbsp;&nbsp; 331947 | 9662988 |
| Class I |  |  | &nbsp;&nbsp; 813962 | 20056028 |  |  | &nbsp;&nbsp; 354071 | 10894753 |
| Class R1 |  |  | &nbsp;&nbsp; 33721 | 779624 |  |  | &nbsp;&nbsp; 15274 | 436843 |
| Class R2 |  |  | &nbsp;&nbsp; 229327 | 5416697 |  |  | &nbsp;&nbsp; 76862 | 2252056 |
| Class R3 |  |  | &nbsp;&nbsp; 256221 | 6164688 |  |  | &nbsp;&nbsp; 123046 | 3667987 |
| Class R4 |  |  | &nbsp;&nbsp; 496181 | 12052230 |  |  | &nbsp;&nbsp; 204148 | 6169344 |
| Class R6 |  |  | &nbsp;&nbsp; 1093869 | 26952926 |  |  | &nbsp;&nbsp; 527660 | 16230812 |
|  |  | $— | &nbsp;&nbsp; 14864751 | $361491851 |  | $— | &nbsp;&nbsp; 4280608 | $128949906 |
| Shares reacquired |  |  |  |  |  |  |  |  |
| Class A | (14731799)<br>| $(389551168)<br>| &nbsp;&nbsp; (34369351)<br>| $(856437789)<br>| &nbsp;&nbsp; (4137155)<br>| $(135902807)<br>| &nbsp;&nbsp; (9604614)<br>| $(294311605)<br>|
| Class B | (188665)<br>| (4979257)<br>| &nbsp;&nbsp; (650225)<br>| (16208547)<br>| &nbsp;&nbsp; (74860)<br>| (2424326)<br>| &nbsp;&nbsp; (243210)<br>| (7343995)<br>|
| Class C | (1870816)<br>| (48236015)<br>| &nbsp;&nbsp; (4783288)<br>| (116443285)<br>| &nbsp;&nbsp; (891190)<br>| (28280813)<br>| &nbsp;&nbsp; (2207778)<br>| (65266125)<br>|
| Class I | (1783013)<br>| (47921802)<br>| &nbsp;&nbsp; (5021114)<br>| (126855136)<br>| &nbsp;&nbsp; (1035623)<br>| (35029377)<br>| &nbsp;&nbsp; (2456483)<br>| (77237975)<br>|
| Class R1 | (47780)<br>| (1197454)<br>| &nbsp;&nbsp; (200387)<br>| (4824423)<br>| &nbsp;&nbsp; (45319)<br>| (1429648)<br>| &nbsp;&nbsp; (180609)<br>| (5363736)<br>|
| Class R2 | (671423)<br>| (17201875)<br>| &nbsp;&nbsp; (1011267)<br>| (24289035)<br>| &nbsp;&nbsp; (370027)<br>| (11871567)<br>| &nbsp;&nbsp; (511091)<br>| (15097235)<br>|
| Class R3 | (433760)<br>| (11371396)<br>| &nbsp;&nbsp; (1471352)<br>| (36156946)<br>| &nbsp;&nbsp; (451546)<br>| (14927545)<br>| &nbsp;&nbsp; (746056)<br>| (22943905)<br>|
| Class R4 | (1727057)<br>| (45916301)<br>| &nbsp;&nbsp; (4497417)<br>| (112150772)<br>| &nbsp;&nbsp; (968185)<br>| (32124725)<br>| &nbsp;&nbsp; (1504413)<br>| (46117923)<br>|
| Class R6 | (1816074)<br>| (48549476)<br>| &nbsp;&nbsp; (5466476)<br>| (138446646)<br>| &nbsp;&nbsp; (1157731)<br>| (38855721)<br>| &nbsp;&nbsp; (2209709)<br>| (69514891)<br>|
|  | (23270387)<br>| $(614924744)<br>| &nbsp;&nbsp; (57470877)<br>| $(1431812579)<br>| &nbsp;&nbsp; (9131636)<br>| $(300846529)<br>| &nbsp;&nbsp; (19663963)<br>| $(603197390)<br>|
| Net change |  |  |  |  |  |  |  |  |
| Class A | (6102834)<br>| $(161810732)<br>| &nbsp;&nbsp; (480763)<br>| $(18889145)<br>| &nbsp;&nbsp; (1517771)<br>| $(49590791)<br>| &nbsp;&nbsp; 577808 | $15599581 |
| Class B | (188293)<br>| (4969559)<br>| &nbsp;&nbsp; (600107)<br>| (14982017)<br>| &nbsp;&nbsp; (74750)<br>| (2420680)<br>| &nbsp;&nbsp; (225832)<br>| (6824624)<br>|
| Class C | (1136250)<br>| (29300235)<br>| &nbsp;&nbsp; (2319590)<br>| (56861791)<br>| &nbsp;&nbsp; (362069)<br>| (11502430)<br>| &nbsp;&nbsp; (488175)<br>| (14736676)<br>|
| Class I | (404982)<br>| (10997243)<br>| &nbsp;&nbsp; (1086568)<br>| (27931328)<br>| &nbsp;&nbsp; (172495)<br>| (5931142)<br>| &nbsp;&nbsp; (587041)<br>| (18937222)<br>|
| Class R1 | (22894)<br>| (573662)<br>| &nbsp;&nbsp; (105725)<br>| (2601454)<br>| &nbsp;&nbsp; (31876)<br>| (1011226)<br>| &nbsp;&nbsp; (128071)<br>| (3848677)<br>|
| Class R2 | (551237)<br>| (14135065)<br>| &nbsp;&nbsp; (479577)<br>| (11612187)<br>| &nbsp;&nbsp; (296942)<br>| (9543927)<br>| &nbsp;&nbsp; (238624)<br>| (6994301)<br>|
| Class R3 | (288949)<br>| (7589177)<br>| &nbsp;&nbsp; (843703)<br>| (20837600)<br>| &nbsp;&nbsp; (299309)<br>| (9964880)<br>| &nbsp;&nbsp; (285290)<br>| (9023434)<br>|
| Class R4 | (1302802)<br>| (34725507)<br>| &nbsp;&nbsp; (2708427)<br>| (68061197)<br>| &nbsp;&nbsp; (678399)<br>| (22523756)<br>| &nbsp;&nbsp; (488635)<br>| (15044011)<br>|
| Class R6 | (566743)<br>| (14952129)<br>| &nbsp;&nbsp; (955015)<br>| (24745283)<br>| &nbsp;&nbsp; (481811)<br>| (16008168)<br>| &nbsp;&nbsp; 103570 | 2646836 |
|  | (10564984)<br>| $(279053309)<br>| &nbsp;&nbsp; (9579475)<br>| $(246522002)<br>| &nbsp;&nbsp; (3915422)<br>| $(128497000)<br>| &nbsp;&nbsp; (1760290)<br>| $(57162528)<br>|

---

Effective June 1, 2019, purchases of each fund's Class B shares were closed to new and existing investors subject to certain exceptions. Effective September 29, 2023, purchases of each fund's Class R1 and Class R2 shares were closed to new eligible investors.

------

*Notes to Financial Statements (unaudited) - continued* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(6) Line of Credit**

Each fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by each fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate) plus 0.10%, 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 12, 2026 unless extended or renewed. In addition, each fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the six months ended November 30, 2025, each fund's commitment fee and interest expense were as follows and are included in "Miscellaneous" expense in the Statements of Operations:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **MFS Conservative** <br>**Allocation Fund**<br>| **MFS Moderate** <br>**Allocation Fund**<br>| **MFS Growth** <br>**Allocation Fund**<br>| **MFS Aggressive Growth** <br>**Allocation Fund**<br>|
| Commitment Fee | $8371 | $15462 | $15158 | $6751 |
| Interest Expense |  |  |  |  |

---

**(7) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the six months ended November 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MFS Conservative Allocation Fund** | **MFS Conservative Allocation Fund** | **MFS Conservative Allocation Fund** | **MFS Conservative Allocation Fund** | **MFS Conservative Allocation Fund** | **MFS Conservative Allocation Fund** |
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| MFS Commodity Strategy Fund | $70379270 | &nbsp;&nbsp; $2127264 | &nbsp;&nbsp; $7011835 | &nbsp;&nbsp; $(309702)<br>| &nbsp;&nbsp; $9640184 | &nbsp;&nbsp; $74825181 |
| MFS Emerging Markets Debt Fund | 73162390 | &nbsp;&nbsp; 1827463 | &nbsp;&nbsp; 5653016 | &nbsp;&nbsp; (910877)<br>| &nbsp;&nbsp; 5485066 | &nbsp;&nbsp; 73911026 |
| MFS Emerging Markets Debt Local Currency Fund | 73590106 | &nbsp;&nbsp; 939684 | &nbsp;&nbsp; 5217785 | &nbsp;&nbsp; (620773)<br>| &nbsp;&nbsp; 5229311 | &nbsp;&nbsp; 73920543 |
| MFS Global Opportunistic Bond Fund | 254528826 | &nbsp;&nbsp; 5284349 | &nbsp;&nbsp; 7790415 | &nbsp;&nbsp; (1081241)<br>| &nbsp;&nbsp; 6724403 | &nbsp;&nbsp; 257665922 |
| MFS Global Real Estate Fund | 73805654 | &nbsp;&nbsp; 1424109 | &nbsp;&nbsp; 3004096 | &nbsp;&nbsp; 28161 | &nbsp;&nbsp; 1576043 | &nbsp;&nbsp; 73829871 |
| MFS Government Securities Fund | 342500711 | &nbsp;&nbsp; 14502724 | &nbsp;&nbsp; 3482199 | &nbsp;&nbsp; (554436)<br>| &nbsp;&nbsp; 9854263 | &nbsp;&nbsp; 362821063 |
| MFS Growth Fund | 196816369 | &nbsp;&nbsp; 4557966 | &nbsp;&nbsp; 28266351 | &nbsp;&nbsp; 1852944 | &nbsp;&nbsp; 18398620 | &nbsp;&nbsp; 193359548 |
| MFS High Income Fund | 147107572 | &nbsp;&nbsp; 5000954 | &nbsp;&nbsp; 6737835 | &nbsp;&nbsp; (498025)<br>| &nbsp;&nbsp; 2855236 | &nbsp;&nbsp; 147727902 |
| MFS Inflation-Adjusted Bond Fund | 361151142 | &nbsp;&nbsp; 11139985 | &nbsp;&nbsp; 8980173 | &nbsp;&nbsp; (1660614)<br>| &nbsp;&nbsp; 4942609 | &nbsp;&nbsp; 366592949 |
| MFS Institutional Money Market Portfolio | 83359449 | &nbsp;&nbsp; 48312510 | &nbsp;&nbsp; 75238896 | &nbsp;&nbsp; 2977 | &nbsp;&nbsp; 11126 | &nbsp;&nbsp; 56447166 |
| MFS International Growth Fund | 56270700 | &nbsp;&nbsp; 1217121 | &nbsp;&nbsp; 2854266 | &nbsp;&nbsp; 1021697 | &nbsp;&nbsp; 2868225 | &nbsp;&nbsp; 58523477 |
| MFS International Intrinsic Value Fund | 56874494 | &nbsp;&nbsp; 583276 | &nbsp;&nbsp; 4657722 | &nbsp;&nbsp; 814698 | &nbsp;&nbsp; 5903332 | &nbsp;&nbsp; 59518078 |
| MFS International Large Cap Value Fund | 57607267 | &nbsp;&nbsp; 169120 | &nbsp;&nbsp; 5298941 | &nbsp;&nbsp; 1017118 | &nbsp;&nbsp; 5997895 | &nbsp;&nbsp; 59492459 |
| MFS Limited Maturity Fund | 364364375 | &nbsp;&nbsp; 10669368 | &nbsp;&nbsp; 8987652 | &nbsp;&nbsp; (258661)<br>| &nbsp;&nbsp; 2751646 | &nbsp;&nbsp; 368539076 |
| MFS Mid Cap Growth Fund | 148846941 | &nbsp;&nbsp; 4045061 | &nbsp;&nbsp; 12376234 | &nbsp;&nbsp; 1075429 | &nbsp;&nbsp; 3075767 | &nbsp;&nbsp; 144666964 |
| MFS Mid Cap Value Fund | 145771041 | &nbsp;&nbsp; 1129218 | &nbsp;&nbsp; 10021382 | &nbsp;&nbsp; (86709)<br>| &nbsp;&nbsp; 12125597 | &nbsp;&nbsp; 148917765 |
| MFS New Discovery Fund | 36630885 | &nbsp;&nbsp; 342551 | &nbsp;&nbsp; 4977806 | &nbsp;&nbsp; 472848 | &nbsp;&nbsp; 5190026 | &nbsp;&nbsp; 37658504 |
| MFS New Discovery Value Fund | 35761392 | &nbsp;&nbsp; 1839903 | &nbsp;&nbsp; 2883904 | &nbsp;&nbsp; (130282)<br>| &nbsp;&nbsp; 2342186 | &nbsp;&nbsp; 36929295 |
| MFS Research Fund | 194305445 | &nbsp;&nbsp; 251342 | &nbsp;&nbsp; 23548189 | &nbsp;&nbsp; 2729017 | &nbsp;&nbsp; 21645867 | &nbsp;&nbsp; 195383482 |
| MFS Research International Fund | 133008066 | &nbsp;&nbsp; 3124933 | &nbsp;&nbsp; 5057985 | &nbsp;&nbsp; 936425 | &nbsp;&nbsp; 6536088 | &nbsp;&nbsp; 138547527 |
| MFS Total Return Bond Fund | 525138240 | &nbsp;&nbsp; 12464263 | &nbsp;&nbsp; 18505556 | &nbsp;&nbsp; (2823313)<br>| &nbsp;&nbsp; 17895957 | &nbsp;&nbsp; 534169591 |
| MFS Value Fund | 220534786 | &nbsp;&nbsp; 4183876 | &nbsp;&nbsp; 14267603 | &nbsp;&nbsp; 552916 | &nbsp;&nbsp; 12464704 | &nbsp;&nbsp; 223468679 |
|  | $3651515121 | &nbsp;&nbsp; $135137040 | &nbsp;&nbsp; $264819841 | &nbsp;&nbsp; $1569597 | &nbsp;&nbsp; $163514151 | &nbsp;&nbsp; $3686916068 |

---

------

*Notes to Financial Statements (unaudited) - continued* 

---

| | | |
|:---|:---|:---|
|  | **MFS Conservative Allocation Fund** <br> **- continued** | **MFS Conservative Allocation Fund** <br> **- continued** |
| **Affiliated Issuers** | **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| MFS Commodity Strategy Fund | $— | $— |
| MFS Emerging Markets Debt Fund | 1814153 |  |
| MFS Emerging Markets Debt Local Currency Fund | 699360 |  |
| MFS Global Opportunistic Bond Fund | 4710547 |  |
| MFS Global Real Estate Fund |  |  |
| MFS Government Securities Fund | 6818874 |  |
| MFS Growth Fund |  | 3608091 |
| MFS High Income Fund | 4793322 |  |
| MFS Inflation-Adjusted Bond Fund | 9640329 |  |
| MFS Institutional Money Market Portfolio | 1514644 |  |
| MFS International Growth Fund |  |  |
| MFS International Intrinsic Value Fund |  |  |
| MFS International Large Cap Value Fund |  |  |
| MFS Limited Maturity Fund | 8638611 |  |
| MFS Mid Cap Growth Fund |  |  |
| MFS Mid Cap Value Fund |  |  |
| MFS New Discovery Fund |  |  |
| MFS New Discovery Value Fund | 98261 | 1127508 |
| MFS Research Fund |  |  |
| MFS Research International Fund |  |  |
| MFS Total Return Bond Fund | 11506618 |  |
| MFS Value Fund | 2057736 |  |
|  | $52292455 | $4735599 |

---

------

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MFS Moderate Allocation Fund** | **MFS Moderate Allocation Fund** | **MFS Moderate Allocation Fund** | **MFS Moderate Allocation Fund** | **MFS Moderate Allocation Fund** | **MFS Moderate Allocation Fund** |
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| MFS Commodity Strategy Fund | $183984541 | &nbsp;&nbsp; $6444460 | &nbsp;&nbsp; $15597746 | &nbsp;&nbsp; $(663424)<br>| &nbsp;&nbsp; $25195265 | &nbsp;&nbsp; $199363096 |
| MFS Emerging Markets Debt Fund | 181922594 | &nbsp;&nbsp; 14531971 | &nbsp;&nbsp; 11191219 | &nbsp;&nbsp; (1874738)<br>| &nbsp;&nbsp; 13790318 | &nbsp;&nbsp; 197178926 |
| MFS Emerging Markets Debt Local Currency Fund | 125136677 | &nbsp;&nbsp; 3519480 | &nbsp;&nbsp; 5344399 | &nbsp;&nbsp; (883389)<br>| &nbsp;&nbsp; 8940075 | &nbsp;&nbsp; 131368444 |
| MFS Emerging Markets Equity Fund | 67231245 | &nbsp;&nbsp; 19511 | &nbsp;&nbsp; 11958267 | &nbsp;&nbsp; 171209 | &nbsp;&nbsp; 12230570 | &nbsp;&nbsp; 67694268 |
| MFS Global Opportunistic Bond Fund | 297885037 | &nbsp;&nbsp; 32428667 | &nbsp;&nbsp; 10348447 | &nbsp;&nbsp; (1580875)<br>| &nbsp;&nbsp; 8592773 | &nbsp;&nbsp; 326977155 |
| MFS Global Real Estate Fund | 198496209 | &nbsp;&nbsp; 1103983 | &nbsp;&nbsp; 7043269 | &nbsp;&nbsp; 166999 | &nbsp;&nbsp; 4023946 | &nbsp;&nbsp; 196747868 |
| MFS Government Securities Fund | 559516634 | &nbsp;&nbsp; 71619515 | &nbsp;&nbsp; 11695012 | &nbsp;&nbsp; (1907097)<br>| &nbsp;&nbsp; 18205923 | &nbsp;&nbsp; 635739963 |
| MFS Growth Fund | 504041073 | &nbsp;&nbsp; 8949750 | &nbsp;&nbsp; 91561839 | &nbsp;&nbsp; 16721033 | &nbsp;&nbsp; 34650069 | &nbsp;&nbsp; 472800086 |
| MFS High Income Fund | 246638087 | &nbsp;&nbsp; 19663372 | &nbsp;&nbsp; 8022168 | &nbsp;&nbsp; (776490)<br>| &nbsp;&nbsp; 4834184 | &nbsp;&nbsp; 262336985 |
| MFS Inflation-Adjusted Bond Fund | 414320538 | &nbsp;&nbsp; 51705025 | &nbsp;&nbsp; 14189690 | &nbsp;&nbsp; (1866870)<br>| &nbsp;&nbsp; 6197353 | &nbsp;&nbsp; 456166356 |
| MFS Institutional Money Market Portfolio | 147998157 | &nbsp;&nbsp; 72795059 | &nbsp;&nbsp; 119727715 | &nbsp;&nbsp; (1112)<br>| &nbsp;&nbsp; 25349 | &nbsp;&nbsp; 101089738 |
| MFS International Growth Fund | 135244798 | &nbsp;&nbsp; 884667 | &nbsp;&nbsp; 9351921 | &nbsp;&nbsp; 4903383 | &nbsp;&nbsp; 4214579 | &nbsp;&nbsp; 135895506 |
| MFS International Intrinsic Value Fund | 136563651 | &nbsp;&nbsp; 453169 | &nbsp;&nbsp; 14418201 | &nbsp;&nbsp; 2551782 | &nbsp;&nbsp; 13137412 | &nbsp;&nbsp; 138287813 |
| MFS International Large Cap Value Fund | 138459438 | &nbsp;&nbsp; 502060 | &nbsp;&nbsp; 17109722 | &nbsp;&nbsp; 3064090 | &nbsp;&nbsp; 13344417 | &nbsp;&nbsp; 138260283 |
| MFS International New Discovery Fund | 67500975 | &nbsp;&nbsp; 284286 | &nbsp;&nbsp; 2988877 | &nbsp;&nbsp; 293916 | &nbsp;&nbsp; 2556390 | &nbsp;&nbsp; 67646690 |
| MFS Mid Cap Growth Fund | 481179674 | &nbsp;&nbsp; 3585992 | &nbsp;&nbsp; 56149697 | &nbsp;&nbsp; 11794391 | &nbsp;&nbsp; 1859248 | &nbsp;&nbsp; 442269608 |
| MFS Mid Cap Value Fund | 463083059 | &nbsp;&nbsp; 1273704 | &nbsp;&nbsp; 40220891 | &nbsp;&nbsp; 401802 | &nbsp;&nbsp; 37399535 | &nbsp;&nbsp; 461937209 |
| MFS New Discovery Fund | 101978187 | &nbsp;&nbsp; 587255 | &nbsp;&nbsp; 17587921 | &nbsp;&nbsp; 2908614 | &nbsp;&nbsp; 12546758 | &nbsp;&nbsp; 100432893 |
| MFS New Discovery Value Fund | 99222784 | &nbsp;&nbsp; 4041308 | &nbsp;&nbsp; 11426140 | &nbsp;&nbsp; 921317 | &nbsp;&nbsp; 5147668 | &nbsp;&nbsp; 97906937 |
| MFS Research Fund | 490116184 | &nbsp;&nbsp; 250028 | &nbsp;&nbsp; 72324684 | &nbsp;&nbsp; 14950953 | &nbsp;&nbsp; 45749085 | &nbsp;&nbsp; 478741566 |
| MFS Research International Fund | 341130928 | &nbsp;&nbsp; 2123874 | &nbsp;&nbsp; 20275451 | &nbsp;&nbsp; 8068091 | &nbsp;&nbsp; 10452743 | &nbsp;&nbsp; 341500185 |
| MFS Total Return Bond Fund | 504568124 | &nbsp;&nbsp; 57605313 | &nbsp;&nbsp; 20738929 | &nbsp;&nbsp; (3295802)<br>| &nbsp;&nbsp; 18639870 | &nbsp;&nbsp; 556778576 |
| MFS Value Fund | 522737529 | &nbsp;&nbsp; 6433247 | &nbsp;&nbsp; 30886093 | &nbsp;&nbsp; 1605390 | &nbsp;&nbsp; 29175996 | &nbsp;&nbsp; 529066069 |
|  | $6408956123 | &nbsp;&nbsp; $360805696 | &nbsp;&nbsp; $620158298 | &nbsp;&nbsp; $55673173 | &nbsp;&nbsp; $330909526 | &nbsp;&nbsp; $6536186220 |

---

------

*Notes to Financial Statements (unaudited) - continued* 

---

| | | |
|:---|:---|:---|
|  | **MFS Moderate Allocation Fund** <br> **- continued** | **MFS Moderate Allocation Fund** <br> **- continued** |
| **Affiliated Issuers** | **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| MFS Commodity Strategy Fund | $— | $— |
| MFS Emerging Markets Debt Fund |  |  |
| MFS Emerging Markets Debt Local Currency Fund | 4803869 |  |
| MFS Emerging Markets Equity Fund | 1235335 |  |
| MFS Global Opportunistic Bond Fund | 5884563 |  |
| MFS Global Real Estate Fund |  |  |
| MFS Government Securities Fund | 11923406 |  |
| MFS Growth Fund |  | 8793122 |
| MFS High Income Fund | 8417181 |  |
| MFS Inflation-Adjusted Bond Fund | 11446363 |  |
| MFS Institutional Money Market Portfolio | 2752474 |  |
| MFS International Growth Fund |  |  |
| MFS International Intrinsic Value Fund |  |  |
| MFS International Large Cap Value Fund |  |  |
| MFS International New Discovery Fund |  |  |
| MFS Mid Cap Growth Fund |  |  |
| MFS Mid Cap Value Fund |  |  |
| MFS New Discovery Fund |  |  |
| MFS New Discovery Value Fund | 259334 | 2975705 |
| MFS Research Fund |  |  |
| MFS Research International Fund |  |  |
| MFS Total Return Bond Fund | 11791466 |  |
| MFS Value Fund | 4869165 |  |
|  | $63383156 | $11768827 |

---

------

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MFS Growth Allocation Fund** | **MFS Growth Allocation Fund** | **MFS Growth Allocation Fund** | **MFS Growth Allocation Fund** | **MFS Growth Allocation Fund** | **MFS Growth Allocation Fund** |
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| MFS Commodity Strategy Fund | $240515293 | &nbsp;&nbsp; $18003006 | &nbsp;&nbsp; $18885691 | &nbsp;&nbsp; $(718870)<br>| &nbsp;&nbsp; $33813401 | &nbsp;&nbsp; $272727139 |
| MFS Emerging Markets Debt Fund | 178093410 | &nbsp;&nbsp; 23098718 | &nbsp;&nbsp; 10902468 | &nbsp;&nbsp; (1819789)<br>| &nbsp;&nbsp; 13833588 | &nbsp;&nbsp; 202303459 |
| MFS Emerging Markets Debt Local Currency Fund | 122517600 | &nbsp;&nbsp; 8898482 | &nbsp;&nbsp; 4688588 | &nbsp;&nbsp; (905778)<br>| &nbsp;&nbsp; 8990631 | &nbsp;&nbsp; 134812347 |
| MFS Emerging Markets Equity Fund | 132921498 | &nbsp;&nbsp; 59443 | &nbsp;&nbsp; 21647077 | &nbsp;&nbsp; 936635 | &nbsp;&nbsp; 23965750 | &nbsp;&nbsp; 136236249 |
| MFS Global Opportunistic Bond Fund | 174990523 | &nbsp;&nbsp; 27691847 | &nbsp;&nbsp; 5792790 | &nbsp;&nbsp; (831407)<br>| &nbsp;&nbsp; 5092112 | &nbsp;&nbsp; 201150285 |
| MFS Global Real Estate Fund | 262140708 | &nbsp;&nbsp; 4178535 | &nbsp;&nbsp; 3481951 | &nbsp;&nbsp; (109154)<br>| &nbsp;&nbsp; 5743948 | &nbsp;&nbsp; 268472086 |
| MFS Growth Fund | 636309781 | &nbsp;&nbsp; 12704891 | &nbsp;&nbsp; 98224789 | &nbsp;&nbsp; 15665081 | &nbsp;&nbsp; 50324741 | &nbsp;&nbsp; 616779705 |
| MFS High Income Fund | 241423266 | &nbsp;&nbsp; 31078161 | &nbsp;&nbsp; 7373962 | &nbsp;&nbsp; (742918)<br>| &nbsp;&nbsp; 4784829 | &nbsp;&nbsp; 269169376 |
| MFS Inflation-Adjusted Bond Fund | 289745361 | &nbsp;&nbsp; 50361896 | &nbsp;&nbsp; 9267336 | &nbsp;&nbsp; (1292568)<br>| &nbsp;&nbsp; 4545975 | &nbsp;&nbsp; 334093328 |
| MFS Institutional Money Market Portfolio | 114443206 | &nbsp;&nbsp; 62919833 | &nbsp;&nbsp; 77998658 | &nbsp;&nbsp; (2579)<br>| &nbsp;&nbsp; 22452 | &nbsp;&nbsp; 99384254 |
| MFS International Growth Fund | 200612066 | &nbsp;&nbsp; 728582 | &nbsp;&nbsp; 8969946 | &nbsp;&nbsp; 5950498 | &nbsp;&nbsp; 7746842 | &nbsp;&nbsp; 206068042 |
| MFS International Intrinsic Value Fund | 202730315 | &nbsp;&nbsp; 431051 | &nbsp;&nbsp; 16616549 | &nbsp;&nbsp; 3001089 | &nbsp;&nbsp; 20679774 | &nbsp;&nbsp; 210225680 |
| MFS International Large Cap Value Fund | 205347669 | &nbsp;&nbsp; 521698 | &nbsp;&nbsp; 20570311 | &nbsp;&nbsp; 3594819 | &nbsp;&nbsp; 21163202 | &nbsp;&nbsp; 210057077 |
| MFS International New Discovery Fund | 133429083 | &nbsp;&nbsp; 222642 | &nbsp;&nbsp; 2458252 | &nbsp;&nbsp; 264105 | &nbsp;&nbsp; 5397532 | &nbsp;&nbsp; 136855110 |
| MFS Mid Cap Growth Fund | 612451726 | &nbsp;&nbsp; 4933278 | &nbsp;&nbsp; 50115339 | &nbsp;&nbsp; 9594455 | &nbsp;&nbsp; 7502873 | &nbsp;&nbsp; 584366993 |
| MFS Mid Cap Value Fund | 590208304 | &nbsp;&nbsp; 1292200 | &nbsp;&nbsp; 30746455 | &nbsp;&nbsp; (191423)<br>| &nbsp;&nbsp; 49127016 | &nbsp;&nbsp; 609689642 |
| MFS New Discovery Fund | 134658702 | &nbsp;&nbsp; 684506 | &nbsp;&nbsp; 18728890 | &nbsp;&nbsp; 810140 | &nbsp;&nbsp; 19985682 | &nbsp;&nbsp; 137410140 |
| MFS New Discovery Value Fund | 131075750 | &nbsp;&nbsp; 5097233 | &nbsp;&nbsp; 10268067 | &nbsp;&nbsp; (9462)<br>| &nbsp;&nbsp; 8058806 | &nbsp;&nbsp; 133954260 |
| MFS Research Fund | 619263870 | &nbsp;&nbsp; 370978 | &nbsp;&nbsp; 72167241 | &nbsp;&nbsp; 9584667 | &nbsp;&nbsp; 68756236 | &nbsp;&nbsp; 625808510 |
| MFS Research International Fund | 472324856 | &nbsp;&nbsp; 1749166 | &nbsp;&nbsp; 16058952 | &nbsp;&nbsp; 5682143 | &nbsp;&nbsp; 20267150 | &nbsp;&nbsp; 483964363 |
| MFS Total Return Bond Fund | 145295173 | &nbsp;&nbsp; 23720588 | &nbsp;&nbsp; 5597344 | &nbsp;&nbsp; (604411)<br>| &nbsp;&nbsp; 5171729 | &nbsp;&nbsp; 167985735 |
| MFS Value Fund | 646761497 | &nbsp;&nbsp; 7778295 | &nbsp;&nbsp; 14084923 | &nbsp;&nbsp; 506678 | &nbsp;&nbsp; 38269189 | &nbsp;&nbsp; 679230736 |
|  | $6487259657 | &nbsp;&nbsp; $286525029 | &nbsp;&nbsp; $524645579 | &nbsp;&nbsp; $48361951 | &nbsp;&nbsp; $423243458 | &nbsp;&nbsp; $6720744516 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| MFS Commodity Strategy Fund | $— | $— |
| MFS Emerging Markets Debt Fund | 4901027 |  |
| MFS Emerging Markets Debt Local Currency Fund | 1257158 |  |
| MFS Emerging Markets Equity Fund |  |  |
| MFS Global Opportunistic Bond Fund | 3584568 |  |
| MFS Global Real Estate Fund |  |  |
| MFS Growth Fund |  | 11527548 |
| MFS High Income Fund | 8548141 |  |
| MFS Inflation-Adjusted Bond Fund | 8179176 |  |
| MFS Institutional Money Market Portfolio | 2185408 |  |
| MFS International Growth Fund |  |  |
| MFS International Intrinsic Value Fund |  |  |
| MFS International Large Cap Value Fund |  |  |
| MFS International New Discovery Fund |  |  |
| MFS Mid Cap Growth Fund |  |  |
| MFS Mid Cap Value Fund |  |  |
| MFS New Discovery Fund |  |  |
| MFS New Discovery Value Fund | 353189 | 4052662 |
| MFS Research Fund |  |  |
| MFS Research International Fund |  |  |
| MFS Total Return Bond Fund | 3519911 |  |
| MFS Value Fund | 6140525 |  |
|  | $38669103 | $15580210 |

---

------

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MFS Aggressive Growth Allocation Fund** | **MFS Aggressive Growth Allocation Fund** | **MFS Aggressive Growth Allocation Fund** | **MFS Aggressive Growth Allocation Fund** | **MFS Aggressive Growth Allocation Fund** | **MFS Aggressive Growth Allocation Fund** |
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| MFS Commodity Strategy Fund | $129672592 | &nbsp;&nbsp; $4262611 | &nbsp;&nbsp; $2121224 | &nbsp;&nbsp; $(26755)<br>| &nbsp;&nbsp; $17649009 | &nbsp;&nbsp; $149436233 |
| MFS Emerging Markets Equity Fund | 85910204 | &nbsp;&nbsp; 77117 | &nbsp;&nbsp; 12072048 | &nbsp;&nbsp; 1186610 | &nbsp;&nbsp; 15196082 | &nbsp;&nbsp; 90297965 |
| MFS Global Real Estate Fund | 141400341 | &nbsp;&nbsp; 2471375 |  |  | &nbsp;&nbsp; 3029170 | &nbsp;&nbsp; 146900886 |
| MFS Growth Fund | 333053813 | &nbsp;&nbsp; 6489709 | &nbsp;&nbsp; 39521528 | &nbsp;&nbsp; 3681096 | &nbsp;&nbsp; 31035910 | &nbsp;&nbsp; 334739000 |
| MFS Institutional Money Market Portfolio | 37745956 | &nbsp;&nbsp; 38656810 | &nbsp;&nbsp; 46548289 | &nbsp;&nbsp; (233)<br>| &nbsp;&nbsp; 5984 | &nbsp;&nbsp; 29860228 |
| MFS International Growth Fund | 144079217 | &nbsp;&nbsp; 509051 | &nbsp;&nbsp; 3607488 | &nbsp;&nbsp; 824546 | &nbsp;&nbsp; 9051546 | &nbsp;&nbsp; 150856872 |
| MFS International Intrinsic Value Fund | 145673754 | &nbsp;&nbsp; 213236 | &nbsp;&nbsp; 9796002 | &nbsp;&nbsp; 1785698 | &nbsp;&nbsp; 15425280 | &nbsp;&nbsp; 153301966 |
| MFS International Large Cap Value Fund | 147382308 | &nbsp;&nbsp; 23245 | &nbsp;&nbsp; 12273098 | &nbsp;&nbsp; 2295662 | &nbsp;&nbsp; 15703160 | &nbsp;&nbsp; 153131277 |
| MFS International New Discovery Fund | 115060641 | &nbsp;&nbsp; 654378 | &nbsp;&nbsp; 230615 | &nbsp;&nbsp; 4407 | &nbsp;&nbsp; 4878640 | &nbsp;&nbsp; 120367451 |
| MFS Mid Cap Growth Fund | 292799705 | &nbsp;&nbsp; 2326310 | &nbsp;&nbsp; 13538816 | &nbsp;&nbsp; 979970 | &nbsp;&nbsp; 6928345 | &nbsp;&nbsp; 289495514 |
| MFS Mid Cap Value Fund | 282479689 | &nbsp;&nbsp; 508608 | &nbsp;&nbsp; 6481146 | &nbsp;&nbsp; 20510 | &nbsp;&nbsp; 23660905 | &nbsp;&nbsp; 300188566 |
| MFS New Discovery Fund | 72503752 | &nbsp;&nbsp; 3768 | &nbsp;&nbsp; 7702357 | &nbsp;&nbsp; (528692)<br>| &nbsp;&nbsp; 11861615 | &nbsp;&nbsp; 76138086 |
| MFS New Discovery Value Fund | 70758347 | &nbsp;&nbsp; 2660747 | &nbsp;&nbsp; 2856113 | &nbsp;&nbsp; (170770)<br>| &nbsp;&nbsp; 4501313 | &nbsp;&nbsp; 74893524 |
| MFS Research Fund | 296266565 |  | &nbsp;&nbsp; 26730362 | &nbsp;&nbsp; 1762669 | &nbsp;&nbsp; 36269807 | &nbsp;&nbsp; 307568679 |
| MFS Research International Fund | 232952800 | &nbsp;&nbsp; 1032490 | &nbsp;&nbsp; 3480213 | &nbsp;&nbsp; 478409 | &nbsp;&nbsp; 12420321 | &nbsp;&nbsp; 243403807 |
| MFS Value Fund | 333006577 | &nbsp;&nbsp; 7232695 | &nbsp;&nbsp; 1616731 | &nbsp;&nbsp; (8355)<br>| &nbsp;&nbsp; 20158127 | &nbsp;&nbsp; 358772313 |
|  | $2860746261 | &nbsp;&nbsp; $67122150 | &nbsp;&nbsp; $188576030 | &nbsp;&nbsp; $12284772 | &nbsp;&nbsp; $227775214 | &nbsp;&nbsp; $2979352367 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| MFS Commodity Strategy Fund | $— | $— |
| MFS Emerging Markets Equity Fund |  |  |
| MFS Global Real Estate Fund |  |  |
| MFS Growth Fund |  | 6380639 |
| MFS Institutional Money Market Portfolio | 664085 |  |
| MFS International Growth Fund |  |  |
| MFS International Intrinsic Value Fund |  |  |
| MFS International Large Cap Value Fund |  |  |
| MFS International New Discovery Fund |  |  |
| MFS Mid Cap Growth Fund |  |  |
| MFS Mid Cap Value Fund |  |  |
| MFS New Discovery Fund |  |  |
| MFS New Discovery Value Fund | 197875 | 2270511 |
| MFS Research Fund |  |  |
| MFS Research International Fund |  |  |
| MFS Value Fund | 3190568 |  |
|  | $4052528 | $8651150 |

---

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Conservative Allocation Fund, MFS Moderate Allocation Fund, MFS Growth Allocation Fund, and MFS Aggressive Growth Allocation Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Conservative Allocation Fund, MFS Moderate Allocation Fund, MFS Growth Allocation Fund, and MFS Aggressive Growth Allocation Fund.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

This information is disclosed as part of the financial statements included in Item 7 above for MFS Conservative Allocation Fund, MFS Moderate Allocation Fund, MFS Growth Allocation Fund, and MFS Aggressive Growth Allocation Fund. See the Statements of Operations and Note 3 within the Notes to Financial Statements for more information.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

------

**Board Review of Investment Advisory Agreement**

The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested ("independent") Trustees, voting separately, annually approve the continuation of the Funds' investment advisory agreement with MFS. The Trustees consider matters bearing on the Funds and their advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2025 ("contract review meetings") for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Funds and the other investment companies that the Board oversees (the "MFS Funds"). The independent Trustees were assisted in their evaluation of the Funds' investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.

In connection with their deliberations regarding the continuation of the investment advisory agreement, the Trustees, including the independent Trustees, considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The investment advisory agreement for each Fund was considered separately, although the Trustees also took into account the common interests of all MFS Funds in their review. As described below, the Trustees considered the nature, quality, and extent of the various investment advisory, administrative, and shareholder services performed by MFS under the existing investment advisory agreement and other arrangements with the Funds.

In connection with their contract review meetings, the Trustees received and relied upon materials that included, among other items: (i) information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent third party, on the investment performance of the Funds for various time periods ended December 31, 2024 and the investment performance of a group of funds with substantially similar investment classifications/objectives (the "Broadridge performance universe"), (ii) information provided by Broadridge on the Funds' fees and expenses and the fees and expenses of comparable funds identified by Broadridge as well as all other funds in the same investment classification/category (the "Broadridge expense group and universe"), (iii) information as to whether and to what extent applicable expense waivers and reimbursements are observed for the Funds, (iv) information regarding MFS' financial results and financial condition, including MFS' and certain of its affiliates' estimated profitability from services performed for the Funds and the MFS Funds as a whole, and compared to MFS' institutional business, (v) MFS' views regarding the outlook for the mutual fund industry and the strategic business plans of MFS, (vi) descriptions of various functions performed by MFS for the Funds, such as compliance monitoring and portfolio trading practices, and (vii) information regarding the overall organization of MFS, including information about MFS' senior management and other personnel providing investment advisory, administrative and other services to the Funds and the other MFS Funds. The comparative performance, fee and expense information prepared and provided by Broadridge was not independently verified and the independent Trustees did not independently verify any information provided to them by MFS.

The Trustees' conclusion as to the continuation of the investment advisory agreement was based on a comprehensive consideration of all information provided to the Trustees and not the result of any single factor. Some of the factors that figured particularly in the Trustees' deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. It is also important to recognize that the fee arrangements for the Funds and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees' conclusions may be based, in part, on their consideration of these same arrangements during the course of the year and in prior years.

**MFS Conservative Allocation Fund** 

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 2nd quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 4th quintile for the one-year period and the 3rd quintile for the three-year period ended December 31, 2024 relative to the Broadridge performance universe.

**MFS Moderate Allocation Fund**

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 4th quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 4th quintile for the one-year period and the 5th quintile for the three-year period ended December 31, 2024 relative to the Broadridge performance universe.

------

*Board Review of Investment Advisory Agreement - continued*

**MFS Growth Allocation Fund**

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 3rd quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 4th quintile for the one-year period and the 5th quintile for the three-year period ended December 31, 2024 relative to the Broadridge performance universe.

**MFS Aggressive Growth Allocation Fund** 

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 4th quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 4th quintile for each of the one- and three-year periods ended December 31, 2024 relative to the Broadridge performance universe.

**General**

Because of the passage of time, the performance results stated above may differ from the performance results for more recent periods, including those shown elsewhere in this report.

In the course of their deliberations, the Trustees took into account information provided by MFS in connection with the contract review meetings, as well as during investment review meetings conducted with portfolio management personnel during the course of the year regarding the Funds' performance. The Trustees noted the structure of the Funds' portfolios and considered MFS' strategic, long-term allocation process with respect to the Funds' underlying investments. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that they were satisfied with MFS' responses and efforts relating to investment performance.

The Trustees considered that MFS does not charge any advisory fees for providing investment advisory services to the Funds, but that the Funds pay their pro rata share of the advisory fees paid by the underlying funds in which they invest (the "Underlying Funds").

In assessing the reasonableness of the Funds' expenses, the Trustees considered, among other information, the total expense ratios of the Funds' Class I shares as a percentage of average daily net assets and the total expense ratios of the Broadridge expense groups based on information provided by Broadridge. The Trustees considered that MFS currently observes expense limitations for MFS Aggressive Growth Allocation Fund, MFS Conservative Allocation Fund, MFS Growth Allocation Fund, and MFS Moderate Allocation Fund, each of which may not be changed without the Trustees' approval. The Trustees also considered that according to the data provided by Broadridge (which takes into account any expense limitations that were in effect during the Funds' last fiscal year), the total expense ratio for each of MFS Aggressive Growth Allocation Fund, MFS Conservative Allocation Fund and MFS Growth Allocation Fund was lower than the Broadridge expense group median and the total expense ratio for MFS Moderate Allocation Fund was approximately at the Broadridge expense group median. Because the Funds do not pay advisory fees, the Trustees did not consider the extent to which economies of scale would be realized due to the Funds' growth of assets, whether fee levels reflect economies of scale for the Funds' shareholders, or the fees paid by similar funds to other investment advisers or by similar clients of MFS.

The Trustees also considered information prepared by MFS relating to MFS' costs and profits with respect to the Funds, the MFS Funds considered as a group, and other investment companies and accounts advised by MFS, as well as MFS' methodologies used to determine and allocate its costs to the MFS Funds, the Funds and other accounts and products for purposes of estimating profitability.

In addition, the Trustees considered MFS' resources and related efforts to continue to retain, attract and motivate capable personnel to serve the Funds. The Trustees also considered current and developing conditions in the financial services industry, including the presence of large and well-capitalized companies which are spending, and appear to be prepared to continue to spend, substantial sums to engage personnel and to provide services to competing investment companies. In this regard, the Trustees also considered the financial resources of MFS and its ultimate parent, Sun Life Financial Inc. The Trustees also considered the advantages and possible disadvantages to the Funds of having an adviser that also serves other investment companies as well as other accounts.

------

*Board Review of Investment Advisory Agreement - continued*

The Trustees also considered the nature, quality, cost, and extent of administrative, transfer agency, and distribution services provided to the Funds by MFS and its affiliates under agreements and plans other than the investment advisory agreement, including any 12b-1 fees the Funds pay to MFS Fund Distributors, Inc., an affiliate of MFS. The Trustees also considered the nature, extent and quality of certain other services MFS performs or arranges for on the Funds' or the Underlying Funds' behalf, which may include securities lending programs, directed expense payment programs, class action recovery programs, and MFS' interaction with third-party service providers, principally custodians and sub-custodians. The Trustees concluded that the various non-advisory services provided by MFS and its affiliates on behalf of the Funds were satisfactory.

The Trustees considered so-called "fall-out benefits" to MFS such as reputational value derived from serving as investment manager to the MFS Funds. The Trustees also considered that MFS discontinued its historic practice of obtaining investment research from portfolio brokerage commissions paid by certain MFS Funds effective January 2018, and directly pays or voluntarily reimburses a Fund, if applicable, for the costs of external research acquired through the use of the Fund's portfolio brokerage commissions.

Based on their evaluation of factors that they deemed to be material, including those factors described above, the Board of Trustees, including the independent Trustees, concluded that the Funds' investment advisory agreement with MFS should be continued for an additional one-year period, commencing August 1, 2025.

------

MFS Blended Research Mid Cap Equity Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS Blended Research Mid Cap Equity Fund

**Portfolio of Investments - 11/30/25 (unaudited)**

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – 99.2% | Common Stocks – 99.2% | Common Stocks – 99.2% |
| Aerospace & Defense – 4.4% | Aerospace & Defense – 4.4% |  |
| BWX Technologies, Inc. | 106548 | &nbsp;&nbsp; $19059306 |
| Curtiss-Wright Corp. | 44930 | &nbsp;&nbsp; 25353550 |
| Leidos Holdings, Inc. | 186563 | &nbsp;&nbsp; 35652189 |
| Textron, Inc. | 258589 | &nbsp;&nbsp; 21504261 |
|  |  | &nbsp;&nbsp; $101569306 |
| Airlines – 1.4% | Airlines – 1.4% |  |
| SkyWest, Inc. (a) | 137786 | &nbsp;&nbsp; $13988035 |
| United Airlines Holdings, Inc. (a) | 167616 | &nbsp;&nbsp; 17090127 |
|  |  | &nbsp;&nbsp; $31078162 |
| Apparel Manufacturers – 0.3% | Apparel Manufacturers – 0.3% |  |
| VF Corp. | 293507 | &nbsp;&nbsp; $5136373 |
| Wolverine World Wide, Inc. | 70244 | &nbsp;&nbsp; 1138655 |
|  |  | &nbsp;&nbsp; $6275028 |
| Automotive – 1.8% | Automotive – 1.8% |  |
| Aptiv PLC (a) | 459349 | &nbsp;&nbsp; $35622515 |
| Garrett Motion, Inc. | 64624 | &nbsp;&nbsp; 1068234 |
| Visteon Corp. | 39091 | &nbsp;&nbsp; 4036146 |
|  |  | &nbsp;&nbsp; $40726895 |
| Biotechnology – 1.7% | Biotechnology – 1.7% |  |
| Biogen, Inc. (a) | 81309 | &nbsp;&nbsp; $14805556 |
| Exact Sciences Corp. (a) | 25408 | &nbsp;&nbsp; 2573576 |
| Exelixis, Inc. (a) | 512271 | &nbsp;&nbsp; 22627010 |
|  |  | &nbsp;&nbsp; $40006142 |
| Broadcasting – 1.3% | Broadcasting – 1.3% |  |
| Omnicom Group, Inc. | 230453 | &nbsp;&nbsp; $16505044 |
| Spotify Technology S.A. (a) | 15887 | &nbsp;&nbsp; 9514248 |
| TKO Group Holdings, Inc. | 17235 | &nbsp;&nbsp; 3341694 |
|  |  | &nbsp;&nbsp; $29360986 |
| Brokerage & Asset Managers – 0.8% | Brokerage & Asset Managers – 0.8% |  |
| Raymond James Financial, Inc. | 109415 | &nbsp;&nbsp; $17127824 |
| XP, Inc. | 65386 | &nbsp;&nbsp; 1288758 |
|  |  | &nbsp;&nbsp; $18416582 |
| Business Services – 3.7% | Business Services – 3.7% |  |
| Constellium SE (a) | 289590 | &nbsp;&nbsp; $4868008 |
| Dropbox, Inc. (a) | 510457 | &nbsp;&nbsp; 15252455 |
| GoDaddy, Inc. (a) | 141277 | &nbsp;&nbsp; 18063677 |
| TriNet Group, Inc. | 330693 | &nbsp;&nbsp; 19378610 |
| Verisk Analytics, Inc., "A" | 118017 | &nbsp;&nbsp; 26562086 |
|  |  | &nbsp;&nbsp; $84124836 |

---

BMSFS-SEM

------

MFS Blended Research Mid Cap Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Chemicals – 1.6% | Chemicals – 1.6% |  |
| Avient Corp. | 592738 | &nbsp;&nbsp; $18131855 |
| Eastman Chemical Co. | 288632 | &nbsp;&nbsp; 17918275 |
| Mosaic Co. | 59087 | &nbsp;&nbsp; 1447041 |
|  |  | &nbsp;&nbsp; $37497171 |
| Computer Software – 4.9% | Computer Software – 4.9% |  |
| ACI Worldwide, Inc. (a) | 128684 | &nbsp;&nbsp; $6030132 |
| Datadog, Inc., "A" (a) | 176192 | &nbsp;&nbsp; 28192482 |
| Guidewire Software, Inc. (a) | 96061 | &nbsp;&nbsp; 20747255 |
| Okta, Inc. (a) | 359814 | &nbsp;&nbsp; 28903859 |
| Pegasystems, Inc. | 134460 | &nbsp;&nbsp; 7364374 |
| VeriSign, Inc. | 25589 | &nbsp;&nbsp; 6448172 |
| Zoom Communications, Inc. (a) | 184126 | &nbsp;&nbsp; 15643345 |
|  |  | &nbsp;&nbsp; $113329619 |
| Computer Software - Systems – 0.6% | Computer Software - Systems – 0.6% |  |
| Avnet, Inc. | 42649 | &nbsp;&nbsp; $2026254 |
| Q2 Holdings, Inc. (a) | 67785 | &nbsp;&nbsp; 4889332 |
| Sandisk Corp. of Delaware (a) | 16795 | &nbsp;&nbsp; 3749988 |
| Western Digital Corp. | 12903 | &nbsp;&nbsp; 2107447 |
|  |  | &nbsp;&nbsp; $12773021 |
| Construction – 4.9% | Construction – 4.9% |  |
| Allegion PLC | 50764 | &nbsp;&nbsp; $8428347 |
| Builders FirstSource, Inc. (a) | 186782 | &nbsp;&nbsp; 20962544 |
| Ferguson Enterprises, Inc. | 56294 | &nbsp;&nbsp; 14167511 |
| Masco Corp. | 399490 | &nbsp;&nbsp; 25914916 |
| Mohawk Industries, Inc. (a) | 245023 | &nbsp;&nbsp; 28398166 |
| Stanley Black & Decker, Inc. | 216559 | &nbsp;&nbsp; 15488299 |
|  |  | &nbsp;&nbsp; $113359783 |
| Consumer Products – 0.5% | Consumer Products – 0.5% |  |
| Newell Brands, Inc. | 3020839 | &nbsp;&nbsp; $11026062 |
| Consumer Services – 0.5% | Consumer Services – 0.5% |  |
| Adtalem Global Education, Inc. (a) | 14604 | &nbsp;&nbsp; $1351746 |
| Expedia Group, Inc. | 25033 | &nbsp;&nbsp; 6400688 |
| Grand Canyon Education, Inc. (a) | 25467 | &nbsp;&nbsp; 4017165 |
|  |  | &nbsp;&nbsp; $11769599 |
| Containers – 0.1% | Containers – 0.1% |  |
| Smurfit Westrock PLC | 33155 | &nbsp;&nbsp; $1183302 |
| Electrical Equipment – 2.1% | Electrical Equipment – 2.1% |  |
| AMETEK, Inc. | 67689 | &nbsp;&nbsp; $13394976 |
| Amphenol Corp., "A" | 180645 | &nbsp;&nbsp; 25452881 |
| nVent Electric PLC | 39183 | &nbsp;&nbsp; 4203160 |
| W.W. Grainger, Inc. | 6179 | &nbsp;&nbsp; 5861585 |
|  |  | &nbsp;&nbsp; $48912602 |

---

------

MFS Blended Research Mid Cap Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Electronics – 3.0% | Electronics – 3.0% |  |
| Advanced Energy Industries, Inc. | 11140 | &nbsp;&nbsp; $2352657 |
| Amkor Technology, Inc. | 390900 | &nbsp;&nbsp; 14224851 |
| Cirrus Logic, Inc. (a) | 78539 | &nbsp;&nbsp; 9451383 |
| Flex Ltd. (a) | 514753 | &nbsp;&nbsp; 30427050 |
| Monolithic Power Systems, Inc. | 12313 | &nbsp;&nbsp; 11428557 |
|  |  | &nbsp;&nbsp; $67884498 |
| Energy - Independent – 3.7% | Energy - Independent – 3.7% |  |
| Antero Resources Corp. (a) | 108211 | &nbsp;&nbsp; $3942127 |
| Expand Energy Corp. | 19119 | &nbsp;&nbsp; 2331179 |
| Phillips 66 | 287676 | &nbsp;&nbsp; 39400105 |
| Valero Energy Corp. | 224372 | &nbsp;&nbsp; 39659995 |
|  |  | &nbsp;&nbsp; $85333406 |
| Energy - Integrated – 0.7% | Energy - Integrated – 0.7% |  |
| National Gas Fuel Co. | 197789 | &nbsp;&nbsp; $16307703 |
| Energy - Renewables – 0.2% | Energy - Renewables – 0.2% |  |
| AES Corp. | 362545 | &nbsp;&nbsp; $5097383 |
| Engineering - Construction – 0.7% | Engineering - Construction – 0.7% |  |
| Jacobs Solutions, Inc. | 85171 | &nbsp;&nbsp; $11481902 |
| Tutor Perini Corp. | 64861 | &nbsp;&nbsp; 4446222 |
|  |  | &nbsp;&nbsp; $15928124 |
| Entertainment – 0.8% | Entertainment – 0.8% |  |
| Lamar Advertising Co., REIT | 130532 | &nbsp;&nbsp; $17281131 |
| Food & Beverages – 1.5% | Food & Beverages – 1.5% |  |
| General Mills, Inc. | 334224 | &nbsp;&nbsp; $15825506 |
| Ingredion, Inc. | 167372 | &nbsp;&nbsp; 17999185 |
|  |  | &nbsp;&nbsp; $33824691 |
| Food & Drug Stores – 0.4% | Food & Drug Stores – 0.4% |  |
| Albertsons Cos., Inc., "A" | 447774 | &nbsp;&nbsp; $8207697 |
| Forest & Paper Products – 0.3% | Forest & Paper Products – 0.3% |  |
| Sylvamo Corp. | 109834 | &nbsp;&nbsp; $5202837 |
| UFP Industries, Inc. | 25777 | &nbsp;&nbsp; 2397003 |
|  |  | &nbsp;&nbsp; $7599840 |
| Gaming & Lodging – 1.9% | Gaming & Lodging – 1.9% |  |
| Brightstar Lottery PLC | 178564 | &nbsp;&nbsp; $2792741 |
| Carnival Corp. (a) | 299714 | &nbsp;&nbsp; 7726627 |
| Viking Holdings Ltd. (a) | 510696 | &nbsp;&nbsp; 34104279 |
|  |  | &nbsp;&nbsp; $44623647 |
| General Merchandise – 1.3% | General Merchandise – 1.3% |  |
| Dollar General Corp. | 269030 | &nbsp;&nbsp; $29456095 |
| Health Maintenance Organizations – 1.5% | Health Maintenance Organizations – 1.5% |  |
| Humana, Inc. | 140526 | &nbsp;&nbsp; $34537075 |

---

------

MFS Blended Research Mid Cap Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Insurance – 8.3% | Insurance – 8.3% |  |
| Ameriprise Financial, Inc. | 82324 | &nbsp;&nbsp; $37518340 |
| Assurant, Inc. | 7819 | &nbsp;&nbsp; 1783983 |
| AXIS Capital Holdings Ltd. | 80109 | &nbsp;&nbsp; 8190344 |
| Corebridge Financial, Inc. | 907968 | &nbsp;&nbsp; 27257199 |
| Equitable Holdings, Inc. | 657616 | &nbsp;&nbsp; 30704091 |
| Everest Group Ltd. | 76550 | &nbsp;&nbsp; 24058900 |
| Hanover Insurance Group, Inc. | 16215 | &nbsp;&nbsp; 3008693 |
| Hartford Insurance Group, Inc. | 198682 | &nbsp;&nbsp; 27225395 |
| Jackson Financial, Inc. | 139235 | &nbsp;&nbsp; 13646422 |
| Lincoln National Corp. | 164521 | &nbsp;&nbsp; 6768394 |
| Voya Financial, Inc. | 149628 | &nbsp;&nbsp; 10518848 |
|  |  | &nbsp;&nbsp; $190680609 |
| Internet – 0.5% | Internet – 0.5% |  |
| Etsy, Inc. (a) | 142190 | &nbsp;&nbsp; $7709542 |
| Pinterest, Inc. (a) | 115019 | &nbsp;&nbsp; 3004296 |
|  |  | &nbsp;&nbsp; $10713838 |
| Leisure & Toys – 1.9% | Leisure & Toys – 1.9% |  |
| Brunswick Corp. | 17689 | &nbsp;&nbsp; $1169420 |
| Mattel, Inc. (a) | 218294 | &nbsp;&nbsp; 4610369 |
| Polaris, Inc. | 28216 | &nbsp;&nbsp; 1872414 |
| Roblox Corp., "A" (a) | 379196 | &nbsp;&nbsp; 36034996 |
|  |  | &nbsp;&nbsp; $43687199 |
| Machinery & Tools – 4.8% | Machinery & Tools – 4.8% |  |
| AGCO Corp. | 278122 | &nbsp;&nbsp; $29469807 |
| CNH Industrial N.V. | 2952978 | &nbsp;&nbsp; 27846583 |
| Crane Co. | 7610 | &nbsp;&nbsp; 1394532 |
| Pentair PLC | 100550 | &nbsp;&nbsp; 10581882 |
| Trimble, Inc. (a) | 28893 | &nbsp;&nbsp; 2352468 |
| Wabtec Corp. | 187238 | &nbsp;&nbsp; 39048485 |
|  |  | &nbsp;&nbsp; $110693757 |
| Major Banks – 0.1% | Major Banks – 0.1% |  |
| Simmons First National Corp. | 155953 | &nbsp;&nbsp; $2892928 |
| Medical & Health Technology & Services – 5.0% | Medical & Health Technology & Services – 5.0% |  |
| IQVIA Holdings, Inc. (a) | 130689 | &nbsp;&nbsp; $30059777 |
| McKesson Corp. | 32919 | &nbsp;&nbsp; 29005589 |
| Universal Health Services, Inc. | 108267 | &nbsp;&nbsp; 26377089 |
| Veeva Systems, Inc. (a) | 115255 | &nbsp;&nbsp; 27694624 |
| Ventas, Inc., REIT | 15520 | &nbsp;&nbsp; 1251378 |
|  |  | &nbsp;&nbsp; $114388457 |
| Medical Equipment – 1.3% | Medical Equipment – 1.3% |  |
| Align Technology, Inc. (a) | 13480 | &nbsp;&nbsp; $1984121 |
| DexCom, Inc. (a) | 47293 | &nbsp;&nbsp; 3001687 |
| Envista Holdings Corp. (a) | 1158724 | &nbsp;&nbsp; 24217332 |
|  |  | &nbsp;&nbsp; $29203140 |

---

------

MFS Blended Research Mid Cap Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Natural Gas - Distribution – 1.5% | Natural Gas - Distribution – 1.5% |  |
| Atmos Energy Corp. | 119919 | &nbsp;&nbsp; $21150114 |
| UGI Corp. | 341965 | &nbsp;&nbsp; 13524716 |
|  |  | &nbsp;&nbsp; $34674830 |
| Network & Telecom – 0.2% | Network & Telecom – 0.2% |  |
| Ciena Corp. (a) | 24613 | &nbsp;&nbsp; $5026221 |
| Oil Services – 1.7% | Oil Services – 1.7% |  |
| TechnipFMC PLC | 849904 | &nbsp;&nbsp; $38466655 |
| Other Banks & Diversified Financials – 6.7% | Other Banks & Diversified Financials – 6.7% |  |
| Banc of California, Inc. | 230878 | &nbsp;&nbsp; $4257390 |
| M&T Bank Corp. | 51508 | &nbsp;&nbsp; 9797852 |
| Northern Trust Corp. | 269038 | &nbsp;&nbsp; 35335451 |
| Popular, Inc. | 317146 | &nbsp;&nbsp; 36379818 |
| Synchrony Financial | 463363 | &nbsp;&nbsp; 35845762 |
| Texas Capital Bancshares, Inc. (a) | 345814 | &nbsp;&nbsp; 31182048 |
|  |  | &nbsp;&nbsp; $152798321 |
| Pharmaceuticals – 1.7% | Pharmaceuticals – 1.7% |  |
| Incyte Corp. (a) | 287110 | &nbsp;&nbsp; $29991510 |
| Organon & Co. | 1206480 | &nbsp;&nbsp; 9301961 |
|  |  | &nbsp;&nbsp; $39293471 |
| Real Estate – 5.0% | Real Estate – 5.0% |  |
| CareTrust REIT, Inc. | 405565 | &nbsp;&nbsp; $15220855 |
| CBRE Group, Inc., "A" (a) | 97095 | &nbsp;&nbsp; 15712884 |
| Essential Properties Realty Trust, REIT | 507401 | &nbsp;&nbsp; 16064316 |
| Jones Lang LaSalle, Inc. (a) | 107893 | &nbsp;&nbsp; 35139671 |
| NNN REIT, Inc. | 47824 | &nbsp;&nbsp; 1977522 |
| Simon Property Group, Inc., REIT | 44882 | &nbsp;&nbsp; 8362414 |
| W.P. Carey, Inc., REIT | 332443 | &nbsp;&nbsp; 22396685 |
|  |  | &nbsp;&nbsp; $114874347 |
| Real Estate - Office – 1.8% | Real Estate - Office – 1.8% |  |
| Cousins Properties, Inc., REIT | 590570 | &nbsp;&nbsp; $15224894 |
| Highwoods Properties, Inc., REIT | 905131 | &nbsp;&nbsp; 25162642 |
|  |  | &nbsp;&nbsp; $40387536 |
| Restaurants – 2.6% | Restaurants – 2.6% |  |
| Aramark | 799654 | &nbsp;&nbsp; $29723139 |
| Texas Roadhouse, Inc. | 62738 | &nbsp;&nbsp; 10994835 |
| U.S. Foods Holding Corp. (a) | 231866 | &nbsp;&nbsp; 18240898 |
|  |  | &nbsp;&nbsp; $58958872 |
| Specialty Chemicals – 1.3% | Specialty Chemicals – 1.3% |  |
| Corteva, Inc. | 70919 | &nbsp;&nbsp; $4784905 |
| RPM International, Inc. | 240176 | &nbsp;&nbsp; 25758876 |
|  |  | &nbsp;&nbsp; $30543781 |

---

------

MFS Blended Research Mid Cap Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Specialty Stores – 3.0% | Specialty Stores – 3.0% |  |
| Bath & Body Works, Inc. | 216741 | &nbsp;&nbsp; $3773461 |
| O'Reilly Automotive, Inc. (a) | 360989 | &nbsp;&nbsp; 36712581 |
| Ross Stores, Inc. | 9526 | &nbsp;&nbsp; 1680005 |
| Tapestry, Inc. | 219846 | &nbsp;&nbsp; 24024771 |
| Wayfair, Inc., "A" (a) | 14597 | &nbsp;&nbsp; 1617348 |
|  |  | &nbsp;&nbsp; $67808166 |
| Utilities - Electric Power – 5.2% | Utilities - Electric Power – 5.2% |  |
| Ameren Corp. | 42616 | &nbsp;&nbsp; $4532212 |
| DTE Energy Co. | 9637 | &nbsp;&nbsp; 1320558 |
| Edison International | 575382 | &nbsp;&nbsp; 33884246 |
| NRG Energy, Inc. | 210120 | &nbsp;&nbsp; 35613239 |
| PG&E Corp. | 2039805 | &nbsp;&nbsp; 32881656 |
| Portland General Electric Co. | 216371 | &nbsp;&nbsp; 10995974 |
|  |  | &nbsp;&nbsp; $119227885 |
| **Total Common Stocks (Identified Cost, $2,060,241,364)** |  | &nbsp;&nbsp; **$2271810399** |
| Mutual Funds (h) – 0.6% | Mutual Funds (h) – 0.6% | Mutual Funds (h) – 0.6% |
| Money Market Funds – 0.6% | Money Market Funds – 0.6% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) (Identified Cost, $13,166,506) | 13165184 | &nbsp;&nbsp; $13167817 |
| Other Assets, Less Liabilities – 0.2% |  | &nbsp;&nbsp; 5409736 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$2290387952** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $13,167,817 and $2,271,810,399, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

The following abbreviations are used in this report and are defined: <br> REIT Real Estate Investment Trust

**See Notes to Financial Statements**

------

MFS Blended Research Mid Cap Equity Fund

**Financial Statements** \| **Statement of Assets and Liabilities**

This statement represents your fund's balance sheet, which details the assets and liabilities comprising the total value of the fund.

---

| | |
|:---|:---|
| **At 11/30/25 (unaudited)**<br> **Assets**<br>|  |
| Investments in unaffiliated issuers, at value (identified cost, $2,060,241,364) | &nbsp;&nbsp; $2271810399 |
| Investments in affiliated issuers, at value (identified cost, $13,166,506) | &nbsp;&nbsp; 13167817 |
| Receivables for |  |
| Fund shares sold | &nbsp;&nbsp; 5262198 |
| Interest and dividends | &nbsp;&nbsp; 2096650 |
| Other assets | &nbsp;&nbsp; 128188 |
| Total assets | &nbsp;&nbsp; $2292465252 |
| **Liabilities** |  |
| Payables for |  |
| Fund shares reacquired | &nbsp;&nbsp; $1581107 |
| Payable to affiliates |  |
| Investment adviser | &nbsp;&nbsp; 108701 |
| Administrative services fee | &nbsp;&nbsp; 4106 |
| Shareholder servicing costs | &nbsp;&nbsp; 308669 |
| Distribution and service fees | &nbsp;&nbsp; 4002 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 70715 |
| Total liabilities | &nbsp;&nbsp; $2077300 |
| Net assets | &nbsp;&nbsp; $2290387952 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $2011094570 |
| Total distributable earnings (loss) | &nbsp;&nbsp; 279293382 |
| Net assets | &nbsp;&nbsp; $2290387952 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 149439020 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | &nbsp;&nbsp; **Shares** <br>**outstanding**<br>| &nbsp;&nbsp; **Net asset value** <br>**per share (a)**<br>|
| Class A | &nbsp;&nbsp;&nbsp; $84207989 | &nbsp;&nbsp;&nbsp; 5482707 | &nbsp;&nbsp;&nbsp; $15.36 |
| Class B | &nbsp;&nbsp;&nbsp; 146195 | &nbsp;&nbsp;&nbsp; 9743 | &nbsp;&nbsp;&nbsp;&nbsp;15.01 |
| Class C | &nbsp;&nbsp;&nbsp; 5939090 | &nbsp;&nbsp;&nbsp; 397187 | &nbsp;&nbsp;&nbsp;&nbsp;14.95 |
| Class I | &nbsp;&nbsp;&nbsp; 1052334359 | &nbsp;&nbsp;&nbsp; 68797201 | &nbsp;&nbsp;&nbsp;&nbsp;15.30 |
| Class R1 | &nbsp;&nbsp;&nbsp; 197088 | &nbsp;&nbsp;&nbsp; 13041 | &nbsp;&nbsp;&nbsp;&nbsp;15.11 |
| Class R2 | &nbsp;&nbsp;&nbsp; 684060 | &nbsp;&nbsp;&nbsp; 45107 | &nbsp;&nbsp;&nbsp;&nbsp;15.17 |
| Class R3 | &nbsp;&nbsp;&nbsp; 6799444 | &nbsp;&nbsp;&nbsp; 446347 | &nbsp;&nbsp;&nbsp;&nbsp;15.23 |
| Class R4 | &nbsp;&nbsp;&nbsp; 1786202 | &nbsp;&nbsp;&nbsp; 116485 | &nbsp;&nbsp;&nbsp;&nbsp;15.33 |
| Class R6 | &nbsp;&nbsp;&nbsp; 1138293525 | &nbsp;&nbsp;&nbsp; 74131202 | &nbsp;&nbsp;&nbsp;&nbsp;15.36 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Maximum offering price per share was equal to the net asset value per share for all
 share classes, except for Class A, for which the maximum offering price per share was $16.30 [100 / 94.25 x $15.36]. On sales of $50,000 or
 more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class
 A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and
 R6.

**See Notes to Financial Statements**

------

MFS Blended Research Mid Cap Equity Fund

**Financial Statements** \| **Statement of Operations**

This statement describes how much your fund earned in investment income and accrued in expenses. It also describes any gains and/or losses generated by fund operations.

---

| | |
|:---|:---|
| **Six months ended 11/30/25 (unaudited)**<br> **Net investment income (loss)**<br>|  |
| Income |  |
| Dividends from unaffiliated issuers | &nbsp;&nbsp; $14009598 |
| Dividends from affiliated issuers | &nbsp;&nbsp; 391994 |
| Other | &nbsp;&nbsp; 54961 |
| Income on securities loaned | &nbsp;&nbsp; 12152 |
| Total investment income | &nbsp;&nbsp; $14468705 |
| Expenses |  |
| Management fee | &nbsp;&nbsp; $4691167 |
| Distribution and service fees | &nbsp;&nbsp; 137290 |
| Shareholder servicing costs | &nbsp;&nbsp; 506458 |
| Administrative services fee | &nbsp;&nbsp; 127037 |
| Independent Trustees' compensation | &nbsp;&nbsp; 17621 |
| Custodian fee | &nbsp;&nbsp; 44827 |
| Shareholder communications | &nbsp;&nbsp; 18915 |
| Audit and tax fees | &nbsp;&nbsp; 36269 |
| Legal fees | &nbsp;&nbsp; 2775 |
| Miscellaneous | &nbsp;&nbsp; 155883 |
| Total expenses | &nbsp;&nbsp; $5738242 |
| Fees paid indirectly | &nbsp;&nbsp; (13)<br>|
| Reduction of expenses by investment adviser and distributor | &nbsp;&nbsp; (403184)<br>|
| Net expenses | &nbsp;&nbsp; $5335045 |
| Net investment income (loss) | &nbsp;&nbsp; $9133660 |
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Unaffiliated issuers | &nbsp;&nbsp; $37991318 |
| Affiliated issuers | &nbsp;&nbsp; 364 |
| Net realized gain (loss) | &nbsp;&nbsp; $37991682 |
| Change in unrealized appreciation or depreciation |  |
| Unaffiliated issuers | &nbsp;&nbsp; $81106397 |
| Affiliated issuers | &nbsp;&nbsp; 1311 |
| Net unrealized gain (loss) | &nbsp;&nbsp; $81107708 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $119099390 |
| Change in net assets from operations | &nbsp;&nbsp; $128233050 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Mid Cap Equity Fund

**Financial Statements** \| **Statements of Changes in Net Assets**

These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions.

---

| | | |
|:---|:---|:---|
|  | **Six months ended** | **Year ended** |
|  | <br>**11/30/25** <br>**(unaudited)**<br>| <br>**5/31/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $9133660 | &nbsp;&nbsp; $9781864 |
| Net realized gain (loss) | 37991682 | &nbsp;&nbsp; 56982165 |
| Net unrealized gain (loss) | 81107708 | &nbsp;&nbsp; 7169916 |
| Change in net assets from operations | $128233050 | &nbsp;&nbsp; $73933945 |
| Total distributions to shareholders | $— | &nbsp;&nbsp; $(88821477)<br>|
| Change in net assets from fund share transactions | $657549900 | &nbsp;&nbsp; $820158753 |
| Total change in net assets | $785782950 | &nbsp;&nbsp; $805271221 |
| **Net assets** |  |  |
| At beginning of period | 1504605002 | &nbsp;&nbsp; 699333781 |
| At end of period | $2290387952 | &nbsp;&nbsp; $1504605002 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Mid Cap Equity Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years. Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class A**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $14.25 | &nbsp;&nbsp; $14.57 | &nbsp;&nbsp; $11.31 | &nbsp;&nbsp; $12.38 | &nbsp;&nbsp; $15.36 | &nbsp;&nbsp; $10.70 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.05 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $0.08 |
| Net realized and unrealized gain (loss) | 1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;3.42 | &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; (0.05)(g)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.68 |
| Total from investment operations | $1.11 | &nbsp;&nbsp; $1.20 | &nbsp;&nbsp; $3.53 | &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $0.02 | &nbsp;&nbsp; $4.76 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.10)<br>| &nbsp;&nbsp; $(0.11)<br>| &nbsp;&nbsp; $(0.11)<br>| $— | &nbsp;&nbsp; $(0.10)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.42)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (3.00)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.52)<br>| &nbsp;&nbsp; $(0.27)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(3.00)<br>| &nbsp;&nbsp; $(0.10)<br>|
| Net asset value, end of period (x) | $15.36 | &nbsp;&nbsp; $14.25 | &nbsp;&nbsp; $14.57 | &nbsp;&nbsp; $11.31 | &nbsp;&nbsp; $12.38 | &nbsp;&nbsp; $15.36 |
| Total return (%) (r)(s)(t)(x) | 7.79<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.74 | &nbsp;&nbsp;&nbsp;&nbsp;31.49 | &nbsp;&nbsp; (4.30)<br>| &nbsp;&nbsp; (1.00)<br>| &nbsp;&nbsp;&nbsp;&nbsp;44.61 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 0.88<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.92 |
| Expenses after expense reductions (f) | 0.84<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 |
| Net investment income (loss) | 0.67<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.45 | &nbsp;&nbsp;&nbsp;&nbsp;0.58 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 58 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 103 |
| Net assets at end of period (000 omitted) | $84208 | &nbsp;&nbsp; $67840 | &nbsp;&nbsp; $42546 | &nbsp;&nbsp; $32605 | &nbsp;&nbsp; $19061 | &nbsp;&nbsp; $133584 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Mid Cap Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class B**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $13.97 | &nbsp;&nbsp; $14.33 | &nbsp;&nbsp; $11.12 | &nbsp;&nbsp; $12.17 | &nbsp;&nbsp; $15.26 | &nbsp;&nbsp; $10.64 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.00)(w)<br>| &nbsp;&nbsp; $(0.00)(w)<br>| &nbsp;&nbsp; $0.02 | &nbsp;&nbsp; $0.02 | &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $(0.02)<br>|
| Net realized and unrealized gain (loss) | 1.04 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;3.36 | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.65 |
| Total from investment operations | $1.04 | &nbsp;&nbsp; $1.06 | &nbsp;&nbsp; $3.38 | &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $4.63 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | $— | &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $(0.00)(w)<br>| &nbsp;&nbsp; $(0.01)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.42)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (3.00)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.42)<br>| &nbsp;&nbsp; $(0.17)<br>| &nbsp;&nbsp; $(0.46)<br>| &nbsp;&nbsp; $(3.00)<br>| &nbsp;&nbsp; $(0.01)<br>|
| Net asset value, end of period (x) | $15.01 | &nbsp;&nbsp; $13.97 | &nbsp;&nbsp; $14.33 | &nbsp;&nbsp; $11.12 | &nbsp;&nbsp; $12.17 | &nbsp;&nbsp; $15.26 |
| Total return (%) (r)(s)(t)(x) | 7.44<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.87 | &nbsp;&nbsp;&nbsp;&nbsp;30.58 | &nbsp;&nbsp; (5.01)<br>| &nbsp;&nbsp; (1.78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;43.56 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 1.63<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.67 |
| Expenses after expense reductions (f) | 1.59<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 |
| Net investment income (loss) | (0.06)(a)<br>| &nbsp;&nbsp; (0.00)(w)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.20 | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.16)<br>|
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 58 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 103 |
| Net assets at end of period (000 omitted) | $146 | &nbsp;&nbsp; $139 | &nbsp;&nbsp; $219 | &nbsp;&nbsp; $197 | &nbsp;&nbsp; $236 | &nbsp;&nbsp; $126 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class C**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $13.92 | &nbsp;&nbsp; $14.29 | &nbsp;&nbsp; $11.09 | &nbsp;&nbsp; $12.16 | &nbsp;&nbsp; $15.25 | &nbsp;&nbsp; $10.64 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.01)<br>| &nbsp;&nbsp; $(0.00)(w)<br>| &nbsp;&nbsp; $0.02 | &nbsp;&nbsp; $0.03 | &nbsp;&nbsp; $0.01 | &nbsp;&nbsp; $(0.02)<br>|
| Net realized and unrealized gain (loss) | 1.04 | &nbsp;&nbsp;&nbsp;&nbsp;1.05 | &nbsp;&nbsp;&nbsp;&nbsp;3.35 | &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.64 |
| Total from investment operations | $1.03 | &nbsp;&nbsp; $1.05 | &nbsp;&nbsp; $3.37 | &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(0.08)<br>| &nbsp;&nbsp; $4.62 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | $— | &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $(0.03)<br>| &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $(0.01)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.42)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (3.00)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.42)<br>| &nbsp;&nbsp; $(0.17)<br>| &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(3.01)<br>| &nbsp;&nbsp; $(0.01)<br>|
| Net asset value, end of period (x) | $14.95 | &nbsp;&nbsp; $13.92 | &nbsp;&nbsp; $14.29 | &nbsp;&nbsp; $11.09 | &nbsp;&nbsp; $12.16 | &nbsp;&nbsp; $15.25 |
| Total return (%) (r)(s)(t)(x) | 7.40<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.82 | &nbsp;&nbsp;&nbsp;&nbsp;30.59 | &nbsp;&nbsp; (4.98)<br>| &nbsp;&nbsp; (1.74)<br>| &nbsp;&nbsp;&nbsp;&nbsp;43.49 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 1.63<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.66 |
| Expenses after expense reductions (f) | 1.59<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 |
| Net investment income (loss) | (0.07)(a)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp; (0.16)<br>|
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 58 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 103 |
| Net assets at end of period (000 omitted) | $5939 | &nbsp;&nbsp; $5175 | &nbsp;&nbsp; $4168 | &nbsp;&nbsp; $4180 | &nbsp;&nbsp; $3161 | &nbsp;&nbsp; $350 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Mid Cap Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class I**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $14.17 | &nbsp;&nbsp; $14.50 | &nbsp;&nbsp; $11.25 | &nbsp;&nbsp; $12.31 | &nbsp;&nbsp; $15.38 | &nbsp;&nbsp; $10.71 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.07 | &nbsp;&nbsp; $0.14 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $0.14 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $0.11 |
| Net realized and unrealized gain (loss) | 1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;3.40 | &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.68 |
| Total from investment operations | $1.13 | &nbsp;&nbsp; $1.22 | &nbsp;&nbsp; $3.55 | &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $4.79 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.12)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.42)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (3.00)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.55)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.58)<br>| &nbsp;&nbsp; $(3.14)<br>| &nbsp;&nbsp; $(0.12)<br>|
| Net asset value, end of period (x) | $15.30 | &nbsp;&nbsp; $14.17 | &nbsp;&nbsp; $14.50 | &nbsp;&nbsp; $11.25 | &nbsp;&nbsp; $12.31 | &nbsp;&nbsp; $15.38 |
| Total return (%) (r)(s)(t)(x) | 7.97<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.93 | &nbsp;&nbsp;&nbsp;&nbsp;31.91 | &nbsp;&nbsp; (4.07)<br>| &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp;&nbsp;&nbsp;44.98 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 0.63<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.67 |
| Expenses after expense reductions (f) | 0.59<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 |
| Net investment income (loss) | 0.91<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 58 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 103 |
| Net assets at end of period (000 omitted) | $1052334 | &nbsp;&nbsp; $622850 | &nbsp;&nbsp; $190406 | &nbsp;&nbsp; $119155 | &nbsp;&nbsp; $108560 | &nbsp;&nbsp; $5410 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R1**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $14.02 | &nbsp;&nbsp; $14.32 | &nbsp;&nbsp; $11.13 | &nbsp;&nbsp; $12.18 | &nbsp;&nbsp; $15.26 | &nbsp;&nbsp; $10.65 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.05 | &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $0.02 | &nbsp;&nbsp; $0.02 | &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $(0.02)<br>|
| Net realized and unrealized gain (loss) | 1.04 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;3.36 | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.64 |
| Total from investment operations | $1.09 | &nbsp;&nbsp; $1.14 | &nbsp;&nbsp; $3.38 | &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(0.08)<br>| &nbsp;&nbsp; $4.62 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.03)<br>| &nbsp;&nbsp; $(0.01)<br>| $— | &nbsp;&nbsp; $(0.01)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.42)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (3.00)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.44)<br>| &nbsp;&nbsp; $(0.19)<br>| &nbsp;&nbsp; $(0.46)<br>| &nbsp;&nbsp; $(3.00)<br>| &nbsp;&nbsp; $(0.01)<br>|
| Net asset value, end of period (x) | $15.11 | &nbsp;&nbsp; $14.02 | &nbsp;&nbsp; $14.32 | &nbsp;&nbsp; $11.13 | &nbsp;&nbsp; $12.18 | &nbsp;&nbsp; $15.26 |
| Total return (%) (r)(s)(t)(x) | 7.77<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.44 | &nbsp;&nbsp;&nbsp;&nbsp;30.52 | &nbsp;&nbsp; (5.00)<br>| &nbsp;&nbsp; (1.72)<br>| &nbsp;&nbsp;&nbsp;&nbsp;43.45 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 0.88<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.16 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.67 |
| Expenses after expense reductions (f) | 0.84<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 |
| Net investment income (loss) | 0.68<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.20 | &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (0.16)<br>|
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 58 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 103 |
| Net assets at end of period (000 omitted) | $197 | &nbsp;&nbsp; $182 | &nbsp;&nbsp; $167 | &nbsp;&nbsp; $132 | &nbsp;&nbsp; $136 | &nbsp;&nbsp; $142 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Mid Cap Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R2**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $14.09 | &nbsp;&nbsp; $14.42 | &nbsp;&nbsp; $11.20 | &nbsp;&nbsp; $12.26 | &nbsp;&nbsp; $15.33 | &nbsp;&nbsp; $10.70 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.03 | &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $0.08 | &nbsp;&nbsp; $0.08 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.04 |
| Net realized and unrealized gain (loss) | 1.05 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;3.39 | &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.68 |
| Total from investment operations | $1.08 | &nbsp;&nbsp; $1.15 | &nbsp;&nbsp; $3.47 | &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $4.72 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.07)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.09)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.42)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (3.00)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.48)<br>| &nbsp;&nbsp; $(0.25)<br>| &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(3.06)<br>| &nbsp;&nbsp; $(0.09)<br>|
| Net asset value, end of period (x) | $15.17 | &nbsp;&nbsp; $14.09 | &nbsp;&nbsp; $14.42 | &nbsp;&nbsp; $11.20 | &nbsp;&nbsp; $12.26 | &nbsp;&nbsp; $15.33 |
| Total return (%) (r)(s)(t)(x) | 7.67<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.46 | &nbsp;&nbsp;&nbsp;&nbsp;31.24 | &nbsp;&nbsp; (4.52)<br>| &nbsp;&nbsp; (1.27)<br>| &nbsp;&nbsp;&nbsp;&nbsp;44.24 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 1.13<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;&nbsp;1.18 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.17 |
| Expenses after expense reductions (f) | 1.09<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 |
| Net investment income (loss) | 0.43<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.30 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 58 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 103 |
| Net assets at end of period (000 omitted) | $684 | &nbsp;&nbsp; $600 | &nbsp;&nbsp; $549 | &nbsp;&nbsp; $416 | &nbsp;&nbsp; $292 | &nbsp;&nbsp; $253 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R3**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $14.13 | &nbsp;&nbsp; $14.47 | &nbsp;&nbsp; $11.23 | &nbsp;&nbsp; $12.30 | &nbsp;&nbsp; $15.36 | &nbsp;&nbsp; $10.71 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.05 | &nbsp;&nbsp; $0.10 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.10 | &nbsp;&nbsp; $0.08 |
| Net realized and unrealized gain (loss) | 1.05 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;3.40 | &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.68 |
| Total from investment operations | $1.10 | &nbsp;&nbsp; $1.19 | &nbsp;&nbsp; $3.51 | &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $0.03 | &nbsp;&nbsp; $4.76 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.11)<br>| &nbsp;&nbsp; $(0.11)<br>| &nbsp;&nbsp; $(0.11)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.11)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.42)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (3.00)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.53)<br>| &nbsp;&nbsp; $(0.27)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(3.09)<br>| &nbsp;&nbsp; $(0.11)<br>|
| Net asset value, end of period (x) | $15.23 | &nbsp;&nbsp; $14.13 | &nbsp;&nbsp; $14.47 | &nbsp;&nbsp; $11.23 | &nbsp;&nbsp; $12.30 | &nbsp;&nbsp; $15.36 |
| Total return (%) (r)(s)(t)(x) | 7.78<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.70 | &nbsp;&nbsp;&nbsp;&nbsp;31.54 | &nbsp;&nbsp; (4.33)<br>| &nbsp;&nbsp; (0.94)<br>| &nbsp;&nbsp;&nbsp;&nbsp;44.60 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 0.88<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.92 |
| Expenses after expense reductions (f) | 0.84<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;&nbsp;0.82 |
| Net investment income (loss) | 0.67<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 58 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 103 |
| Net assets at end of period (000 omitted) | $6799 | &nbsp;&nbsp; $6582 | &nbsp;&nbsp; $3632 | &nbsp;&nbsp; $1051 | &nbsp;&nbsp; $1947 | &nbsp;&nbsp; $1422 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Mid Cap Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R4**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $14.21 | &nbsp;&nbsp; $14.53 | &nbsp;&nbsp; $11.27 | &nbsp;&nbsp; $12.33 | &nbsp;&nbsp; $15.39 | &nbsp;&nbsp; $10.72 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.07 | &nbsp;&nbsp; $0.14 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $0.14 | &nbsp;&nbsp; $0.13 | &nbsp;&nbsp; $0.11 |
| Net realized and unrealized gain (loss) | 1.05 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;3.41 | &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.69 |
| Total from investment operations | $1.12 | &nbsp;&nbsp; $1.23 | &nbsp;&nbsp; $3.56 | &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $4.80 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.13)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.42)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (3.00)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.55)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.58)<br>| &nbsp;&nbsp; $(3.13)<br>| &nbsp;&nbsp; $(0.13)<br>|
| Net asset value, end of period (x) | $15.33 | &nbsp;&nbsp; $14.21 | &nbsp;&nbsp; $14.53 | &nbsp;&nbsp; $11.27 | &nbsp;&nbsp; $12.33 | &nbsp;&nbsp; $15.39 |
| Total return (%) (r)(s)(t)(x) | 7.88<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.97 | &nbsp;&nbsp;&nbsp;&nbsp;31.93 | &nbsp;&nbsp; (4.08)<br>| &nbsp;&nbsp; (0.71)<br>| &nbsp;&nbsp;&nbsp;&nbsp;44.95 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 0.63<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.67 |
| Expenses after expense reductions (f) | 0.59<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 |
| Net investment income (loss) | 0.90<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 58 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 103 |
| Net assets at end of period (000 omitted) | $1786 | &nbsp;&nbsp; $1384 | &nbsp;&nbsp; $1161 | &nbsp;&nbsp; $854 | &nbsp;&nbsp; $934 | &nbsp;&nbsp; $953 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R6**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $14.22 | &nbsp;&nbsp; $14.54 | &nbsp;&nbsp; $11.28 | &nbsp;&nbsp; $12.34 | &nbsp;&nbsp; $15.40 | &nbsp;&nbsp; $10.73 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.08 | &nbsp;&nbsp; $0.16 | &nbsp;&nbsp; $0.16 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $0.12 |
| Net realized and unrealized gain (loss) | 1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;3.41 | &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.69 |
| Total from investment operations | $1.14 | &nbsp;&nbsp; $1.25 | &nbsp;&nbsp; $3.57 | &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $0.08 | &nbsp;&nbsp; $4.81 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.15)<br>| &nbsp;&nbsp; $(0.15)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.14)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.42)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (3.00)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.57)<br>| &nbsp;&nbsp; $(0.31)<br>| &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(3.14)<br>| &nbsp;&nbsp; $(0.14)<br>|
| Net asset value, end of period (x) | $15.36 | &nbsp;&nbsp; $14.22 | &nbsp;&nbsp; $14.54 | &nbsp;&nbsp; $11.28 | &nbsp;&nbsp; $12.34 | &nbsp;&nbsp; $15.40 |
| Total return (%) (r)(s)(t)(x) | 8.02<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.06 | &nbsp;&nbsp;&nbsp;&nbsp;32.03 | &nbsp;&nbsp; (3.97)<br>| &nbsp;&nbsp; (0.60)<br>| &nbsp;&nbsp;&nbsp;&nbsp;45.02 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 0.53<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.58 |
| Expenses after expense reductions (f) | 0.49<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.51 |
| Net investment income (loss) | 1.02<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;&nbsp;1.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 58 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 103 |
| Net assets at end of period (000 omitted) | $1138294 | &nbsp;&nbsp; $799854 | &nbsp;&nbsp; $456485 | &nbsp;&nbsp; $326353 | &nbsp;&nbsp; $325339 | &nbsp;&nbsp; $308874 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Mid Cap Equity Fund

*Financial Highlights - continued*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Ratios do not reflect reductions from fees paid indirectly, if applicable. See Note
 2 in the Notes to Financial Statements for additional information.

&nbsp;&nbsp;&nbsp;&nbsp;(g) The per share amount varies from the net realized and unrealized gain/loss for the
 period because of the timing of sales of fund shares and the per share amount of realized and unrealized gains and losses at such time.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(w) Per share amount was less than $0.01 and total return or ratio was less than 0.01%,
 as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

MFS Blended Research Mid Cap Equity Fund

**Notes to Financial Statements (unaudited)**

**(1) Business and Organization**

MFS Blended Research Mid Cap Equity Fund (the fund) is a diversified series of MFS Series Trust X (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(2) Significant Accounting Policies**

**General** — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of the fund's Statement of Assets and Liabilities through the date that the financial statements were issued.

**Operating Segments** — An operating segment is defined in FASB Accounting Standards Codification Topic 280-Segment Reporting as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the entity's chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available. The fund represents a single operating segment and the Chairman's Committee of the fund's adviser acts as the segment's CODM. The fund's total returns, expense ratios, and changes in net assets which are used by the CODM to assess segment performance and to make resource allocation decisions to the segment are consistent with that presented within the fund's financial statements.

**Balance Sheet Offsetting** — The fund's accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the International Swaps and Derivatives Association (ISDA) Master Agreement, or similar agreement, does not result in an offset of reported amounts of financial assets and financial liabilities in the Statement of Assets and Liabilities across transactions between the fund and the applicable counterparty. The fund's right to setoff may be restricted or prohibited by the bankruptcy or insolvency laws of the particular jurisdiction to which a specific master netting agreement counterparty is subject. Balance sheet offsetting disclosures, to the extent applicable to the fund, have been included in the fund's Significant Accounting Policies note under the captions for each of the fund's in-scope financial instruments and transactions.

**Investment Valuations** — Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading

------

MFS Blended Research Mid Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund's net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund's foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of November 30, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities | $2271810399 | $— | $— | $2271810399 |
| Investment Companies | 13167817 |  |  | 13167817 |
| Total | $2284978216 | $— | $— | $2284978216 |

---

For further information regarding security characteristics, see the Portfolio of Investments.

**Security Loans** — Under its Securities Lending Agency Agreement with the fund, JPMorgan Chase and Co., as lending agent, loans the securities of the fund to certain qualified institutions (the "Borrowers") approved by the fund. Security loans can be terminated at the discretion of either the lending agent or the fund and the related securities must be returned within the earlier of the standard trade settlement period for such securities or within three business days. The loans are collateralized by cash and/or U.S. Treasury and federal agency obligations in an amount typically at least equal to the market value of the securities loaned. On loans collateralized by cash, the cash collateral is invested in a money market fund. The market value of the loaned securities is determined at the close of business of the fund and any additional required collateral is delivered to the fund on the next business day. The lending agent provides the fund with indemnification against Borrower default. In the event of Borrower default, the lending agent will, for the benefit of the fund, either purchase securities identical to those loaned or, when such purchase is commercially impracticable, pay the fund the market value of the loaned securities. In return, the lending agent assumes the fund's rights to the related collateral. If the collateral value is less than the cost to purchase identical securities, the lending agent is responsible for the shortfall, but only to the extent that such shortfall is not due to a decline in collateral value resulting from collateral reinvestment for which the fund bears the risk of loss. A portion of the income generated upon investment of the collateral is remitted to the Borrowers, and the remainder is allocated between the fund and the lending agent. On loans collateralized by U.S. Treasury and/or federal agency obligations, a fee is received from the Borrower, and is allocated between the fund and the lending agent. Income from securities lending is separately reported in the Statement of Operations. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. At November 30, 2025, there were no securities on loan or collateral outstanding.

**Indemnifications** — Under the fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into agreements with service providers that may contain indemnification clauses. The fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against the fund that have not yet occurred.

**Investment Transactions and Income** — Dividends received in cash are recorded on the ex-dividend date. Certain dividends from foreign securities will be recorded when the fund is informed of the dividend if such information is obtained subsequent to the ex-dividend date. Dividend payments received in additional securities are recorded on the ex-dividend date in an amount equal to the value of the security on such date.

------

MFS Blended Research Mid Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

The fund may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statement of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statement of Operations.

Investment transactions are recorded on the trade date. In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis.

**Fees Paid Indirectly** — The fund's custody fee may be reduced by a credit earned under an arrangement that measures the value of U.S. dollars deposited with the custodian by the fund. The amount of the credit, for the six months ended November 30, 2025, is shown as a reduction of total expenses in the Statement of Operations.

**Tax Matters and Distributions** — The fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. The fund's federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for generally a three year period. Management has analyzed the fund's tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability. Foreign taxes, if any, have been accrued by the fund in the accompanying financial statements in accordance with the applicable foreign tax law. Foreign income taxes may be withheld by certain countries in which the fund invests. Additionally, capital gains realized by the fund on securities issued in or by certain foreign countries may be subject to capital gains tax imposed by those countries.

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.

Book/tax differences primarily relate to wash sale loss deferrals and treating a portion of the proceeds from redemptions as a distribution for tax purposes.

The tax character of distributions declared to shareholders for the last fiscal year is as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**5/31/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $30733692 |
| Long-term capital gains | &nbsp;&nbsp; 58087785 |
| Total distributions | &nbsp;&nbsp; $88821477 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

---

| | |
|:---|:---|
| **As of 11/30/25** |  |
| Cost of investments | &nbsp;&nbsp; $2083350505 |
| Gross appreciation | &nbsp;&nbsp; 291130366 |
| Gross depreciation | &nbsp;&nbsp; (89502655)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $201627711 |
| **As of 5/31/25** |  |
| Undistributed ordinary income | &nbsp;&nbsp; 3983620 |
| Undistributed long-term capital gain | &nbsp;&nbsp; 30503524 |
| Post-October capital loss deferral | &nbsp;&nbsp; (3946815)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; 120520003 |

---

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

**Multiple Classes of Shares of Beneficial Interest** — The fund offers multiple classes of shares, which differ in their respective distribution and service fees. The fund's income and common expenses are allocated to shareholders based on the value of settled shares outstanding of each class. The fund's realized and unrealized gain (loss) are allocated to shareholders based on the daily net assets of each class. Dividends are declared separately for each class. Differences in per share dividend rates are generally due to

------

MFS Blended Research Mid Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

differences in separate class expenses. Class B and Class C shares will convert to Class A shares approximately eight years after purchase. The fund's distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months** <br>**ended** <br>**11/30/25**<br>| **Year** <br>**ended** <br>**5/31/25**<br>|
| Class A | $— | &nbsp;&nbsp; $5437487 |
| Class B |  | &nbsp;&nbsp; 15983 |
| Class C |  | &nbsp;&nbsp; 432307 |
| Class I |  | &nbsp;&nbsp; 31623202 |
| Class R1 |  | &nbsp;&nbsp; 16856 |
| Class R2 |  | &nbsp;&nbsp; 58162 |
| Class R3 |  | &nbsp;&nbsp; 595281 |
| Class R4 |  | &nbsp;&nbsp; 126721 |
| Class R6 |  | &nbsp;&nbsp; 50515478 |
| Total | $— | &nbsp;&nbsp; $88821477 |

---

**(3) Transactions with Affiliates**

**Investment Adviser** — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. The management fee is computed daily and paid monthly at the following annual rates based on the fund's average daily net assets:

---

| | |
|:---|:---|
| Up to $1 billion | 0.50% |
| In excess of $1 billion and up to $2.5 billion | 0.475% |
| In excess of $2.5 billion | 0.45% |

---

MFS has agreed in writing to reduce its management fee by a specified amount if certain MFS mutual fund assets exceed thresholds agreed to by MFS and the fund's Board of Trustees. MFS has also agreed in writing to waive at least 0.01% of its management fee as part of this agreement. The agreement to waive at least 0.01% of the management fee will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this management fee reduction amounted to $133,220, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.47% of the fund's average daily net assets.

The investment adviser has agreed in writing to pay a portion of the fund's total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses do not exceed the following rates annually of each class's average daily net assets:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Classes | Classes | Classes | Classes | Classes | Classes | Classes | Classes | Classes |
| A | B | C | I | R1 | R2 | R3 | R4 | R6 |
| 0.84% | 1.59% | 1.59% | 0.59% | 1.59% | 1.09% | 0.84% | 0.59% | 0.52% |

---

This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this reduction amounted to $269,942, which is included in the reduction of total expenses in the Statement of Operations.

**Distributor** — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received $9,056 for the six months ended November 30, 2025, as its portion of the initial sales charge on sales of Class A shares of the fund.

The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.

The fund's distribution plan provides that the fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries. The distribution and service fees are computed daily and paid monthly.

------

MFS Blended Research Mid Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

**Distribution Plan Fee Table:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| Class A |  | 0.25% | 0.25% | 0.25% | $96834 |
| Class B | 0.75% | 0.25% | 1.00% | 1.00% | 731 |
| Class C | 0.75% | 0.25% | 1.00% | 1.00% | 28701 |
| Class R1 | 0.75% | 0.25% | 1.00% | 0.25% | 242 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 1641 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 9141 |
| Total Distribution and Service Fees  |  |  |  |  | $137290 |

---

(d) In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each

class's average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting

period. Any rate changes, if applicable, are detailed below.

(e) The annual effective rates represent actual fees incurred under the distribution plan for the six months ended November 30, 2025 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended November 30, 2025, this rebate amounted to $22 for Class C shares and is included in the reduction of total expenses in the Statement of Operations. For the six months ended November 30, 2025, the 0.75% distribution fee was not imposed for Class R1 shares due to the sales charge limitations contained in Financial Industry Regulatory Authority ("FINRA") Rule 2341.

Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class B shares are subject to a CDSC in the event of a shareholder redemption within six years of purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD and during the six months ended November 30, 2025, were as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| Class A | $2101 |
| Class B |  |
| Class C | 2578 |

---

**Shareholder Servicing Agent** — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from the fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of the fund as determined periodically under the supervision of the fund's Board of Trustees. For the six months ended November 30, 2025, the fee was $24,709, which equated to 0.0026% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the six months ended November 30, 2025, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $481,749.

**Administrator** — MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to the fund. Under an administrative services agreement, the fund reimburses MFS the costs incurred to provide these services. The fund is charged an annual fixed amount of $17,500 plus a fee based on average daily net assets. The administrative services fee is computed daily and paid monthly. The administrative services fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.0132% of the fund's average daily net assets.

**Trustees' and Officers' Compensation** — The fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. Independent Trustees' compensation is accrued daily and paid subsequent to each Trustee Board meeting. The fund does not pay compensation directly to Trustees or officers of the fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to the fund. Certain officers and Trustees of the fund are officers or directors of MFS, MFD, and MFSC.

**Other** — The fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.

MFS purchased or redeemed fund shares on the dates indicated:

------

MFS Blended Research Mid Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| 8/19/2024 | Redemption | Class A | 3 | $45 |
| 8/19/2024 | Redemption | Class C | 3 | 38 |
| 8/19/2024 | Redemption | Class I | 3 | 40 |
| 8/19/2024 | Redemption | Class R3 | 2 | 36 |

---

At November 30, 2025, MFS held approximately 84% and 63% of the outstanding shares of Class B and Class R1, respectively.

The adviser has voluntarily undertaken to reimburse the fund from its own resources on a quarterly basis for the cost of investment research embedded in the cost of the fund's securities trades. This agreement may be rescinded at any time. For the six months ended November 30, 2025, this reimbursement amounted to $54,961, which is included in "Other" income in the Statement of Operations.

**(4) Portfolio Securities**

For the six months ended November 30, 2025, purchases and sales of investments, other than short-term obligations, aggregated $1,123,978,075 and $460,933,799, respectively.

**(5) Shares of Beneficial Interest** 

The fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** <br>**11/30/25** | **Six months ended** <br>**11/30/25** | **Year ended** <br>**5/31/25** | **Year ended** <br>**5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 1119038 | &nbsp;&nbsp; $16938606 | &nbsp;&nbsp; 2358828 | &nbsp;&nbsp; $34749652 |
| Class B | 84 | &nbsp;&nbsp; 1271 | &nbsp;&nbsp; 5677 | &nbsp;&nbsp; 83966 |
| Class C | 69807 | &nbsp;&nbsp; 1031760 | &nbsp;&nbsp; 141661 | &nbsp;&nbsp; 2041967 |
| Class I | 32789231 | &nbsp;&nbsp; 491622865 | &nbsp;&nbsp; 36139897 | &nbsp;&nbsp; 522110644 |
| Class R1 | 91 | &nbsp;&nbsp; 1296 | &nbsp;&nbsp; 132 | &nbsp;&nbsp; 1872 |
| Class R2 | 2527 | &nbsp;&nbsp; 38170 | &nbsp;&nbsp; 5192 | &nbsp;&nbsp; 75146 |
| Class R3 | 73529 | &nbsp;&nbsp; 1092242 | &nbsp;&nbsp; 274427 | &nbsp;&nbsp; 3982297 |
| Class R4 | 38786 | &nbsp;&nbsp; 597573 | &nbsp;&nbsp; 36687 | &nbsp;&nbsp; 510936 |
| Class R6 | 22629511 | &nbsp;&nbsp; 345906442 | &nbsp;&nbsp; 29865891 | &nbsp;&nbsp; 414091114 |
|  | 56722604 | &nbsp;&nbsp; $857230225 | &nbsp;&nbsp; 68828392 | &nbsp;&nbsp; $977647594 |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A |  | $— | &nbsp;&nbsp; 363991 | &nbsp;&nbsp; $5434384 |
| Class B |  |  | &nbsp;&nbsp; 1087 | &nbsp;&nbsp; 15983 |
| Class C |  |  | &nbsp;&nbsp; 29509 | &nbsp;&nbsp; 432307 |
| Class I |  |  | &nbsp;&nbsp; 2130600 | &nbsp;&nbsp; 31618104 |
| Class R1 |  |  | &nbsp;&nbsp; 1147 | &nbsp;&nbsp; 16856 |
| Class R2 |  |  | &nbsp;&nbsp; 3935 | &nbsp;&nbsp; 58162 |
| Class R3 |  |  | &nbsp;&nbsp; 40195 | &nbsp;&nbsp; 595281 |
| Class R4 |  |  | &nbsp;&nbsp; 8522 | &nbsp;&nbsp; 126721 |
| Class R6 |  |  | &nbsp;&nbsp; 3296640 | &nbsp;&nbsp; 49054009 |
|  |  | $— | &nbsp;&nbsp; 5875626 | &nbsp;&nbsp; $87351807 |

---

------

MFS Blended Research Mid Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **11/30/25** | **Six months ended**<br> **11/30/25** | **Year ended**<br> **5/31/25** | **Year ended**<br> **5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares reacquired |  |  |  |  |
| Class A | (398013)<br>| &nbsp;&nbsp; $(6005675)<br>| &nbsp;&nbsp; (880295)<br>| &nbsp;&nbsp; $(12667289)<br>|
| Class B | (262)<br>| &nbsp;&nbsp; (3922)<br>| &nbsp;&nbsp; (12137)<br>| &nbsp;&nbsp; (172568)<br>|
| Class C | (44311)<br>| &nbsp;&nbsp; (654303)<br>| &nbsp;&nbsp; (91251)<br>| &nbsp;&nbsp; (1323555)<br>|
| Class I | (7944201)<br>| &nbsp;&nbsp; (120083812)<br>| &nbsp;&nbsp; (7451204)<br>| &nbsp;&nbsp; (104805492)<br>|
| Class R1 |  |  | &nbsp;&nbsp; (3)<br>| &nbsp;&nbsp; (35)<br>|
| Class R2 | (35)<br>| &nbsp;&nbsp; (526)<br>| &nbsp;&nbsp; (4609)<br>| &nbsp;&nbsp; (66411)<br>|
| Class R3 | (92942)<br>| &nbsp;&nbsp; (1369594)<br>| &nbsp;&nbsp; (99802)<br>| &nbsp;&nbsp; (1438745)<br>|
| Class R4 | (19726)<br>| &nbsp;&nbsp; (295510)<br>| &nbsp;&nbsp; (27681)<br>| &nbsp;&nbsp; (376710)<br>|
| Class R6 | (4752032)<br>| &nbsp;&nbsp; (71266983)<br>| &nbsp;&nbsp; (8307574)<br>| &nbsp;&nbsp; (123989843)<br>|
|  | (13251522)<br>| &nbsp;&nbsp; $(199680325)<br>| &nbsp;&nbsp; (16874556)<br>| &nbsp;&nbsp; $(244840648)<br>|
| Net change |  |  |  |  |
| Class A | 721025 | &nbsp;&nbsp; $10932931 | &nbsp;&nbsp; 1842524 | &nbsp;&nbsp; $27516747 |
| Class B | (178)<br>| &nbsp;&nbsp; (2651)<br>| &nbsp;&nbsp; (5373)<br>| &nbsp;&nbsp; (72619)<br>|
| Class C | 25496 | &nbsp;&nbsp; 377457 | &nbsp;&nbsp; 79919 | &nbsp;&nbsp; 1150719 |
| Class I | 24845030 | &nbsp;&nbsp; 371539053 | &nbsp;&nbsp; 30819293 | &nbsp;&nbsp; 448923256 |
| Class R1 | 91 | &nbsp;&nbsp; 1296 | &nbsp;&nbsp; 1276 | &nbsp;&nbsp; 18693 |
| Class R2 | 2492 | &nbsp;&nbsp; 37644 | &nbsp;&nbsp; 4518 | &nbsp;&nbsp; 66897 |
| Class R3 | (19413)<br>| &nbsp;&nbsp; (277352)<br>| &nbsp;&nbsp; 214820 | &nbsp;&nbsp; 3138833 |
| Class R4 | 19060 | &nbsp;&nbsp; 302063 | &nbsp;&nbsp; 17528 | &nbsp;&nbsp; 260947 |
| Class R6 | 17877479 | &nbsp;&nbsp; 274639459 | &nbsp;&nbsp; 24854957 | &nbsp;&nbsp; 339155280 |
|  | 43471082 | &nbsp;&nbsp; $657549900 | &nbsp;&nbsp; 57829462 | &nbsp;&nbsp; $820158753 |

---

The fund is one of several mutual funds in which certain MFS funds may invest. The MFS funds do not invest in the underlying funds for the purpose of exercising management or control. At the end of the period, the MFS Lifetime 2040 Fund, MFS Lifetime 2050 Fund, the MFS Lifetime 2045 Fund, the MFS Lifetime 2035 Fund, the MFS Lifetime 2055 Fund, the MFS Lifetime 2030 Fund, and MFS Lifetime 2060 Fund were the owners of record of approximately 3%, 3%, 2%, 2% 2%, 1%, and 1%, respectively, of the value of outstanding voting shares of the fund. In addition, the MFS Lifetime 2025 Fund, the MFS Lifetime 2065 Fund, and the MFS Lifetime Income Fund were each the owners of record of less than 1% of the value of outstanding voting shares of the fund

Effective June 1, 2019, purchases of the fund's Class B shares were closed to new and existing investors subject to certain exceptions. Effective September 29, 2023, purchases of the fund's Class R1 and Class R2 shares were closed to new eligible investors.

**(6) Line of Credit**

The fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by the fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate) plus 0.10%, 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 12, 2026 unless extended or renewed. In addition, the fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the six months ended November 30, 2025, the fund's commitment fee and interest expense were $3,280 and $0, respectively, and are included in "Miscellaneous" expense in the Statement of Operations.

**(7) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the six months ended November 30, 2025:

------

MFS Blended Research Mid Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Beginning** <br>**Value**<br>| **Purchases** | &nbsp;&nbsp; **Sales** <br>**Proceeds**<br>| &nbsp;&nbsp; **Realized** <br>**Gain** <br>**(Loss)**<br>| &nbsp;&nbsp; **Change in** <br>**Unrealized** <br>**Appreciation** <br> **or** <br>**Depreciation**<br>| &nbsp;&nbsp; **Ending** <br>**Value**<br>|
| MFS Institutional Money Market <br> Portfolio<br>| &nbsp;&nbsp; $11469886 | &nbsp;&nbsp; $235492620 | &nbsp;&nbsp; $233796364 | &nbsp;&nbsp; $364 | &nbsp;&nbsp; $1311 | &nbsp;&nbsp; $13167817 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; $391994 | $— |

---

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Blended Research Mid Cap Equity Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Blended Research Mid Cap Equity Fund.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

This information is disclosed as part of the financial statements included in Item 7 above for MFS Blended Research Mid Cap Equity Fund. See the Statement of Operations and Note 3 within the Notes to Financial Statements for more information.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

------

MFS Blended Research Mid Cap Equity Fund

**Board Review of Investment Advisory Agreement**

**MFS Blended Research Mid Cap Equity Fund**

The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested ("independent") Trustees, voting separately, annually approve the continuation of the Fund's investment advisory agreement with MFS. The Trustees consider matters bearing on the Fund and its advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2025 ("contract review meetings") for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Fund and the other investment companies that the Board oversees (the "MFS Funds"). The independent Trustees were assisted in their evaluation of the Fund's investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.

In connection with their deliberations regarding the continuation of the investment advisory agreement, the Trustees, including the independent Trustees, considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The investment advisory agreement for the Fund was considered separately, although the Trustees also took into account the common interests of all MFS Funds in their review. As described below, the Trustees considered the nature, quality, and extent of the various investment advisory, administrative, and shareholder services performed by MFS under the existing investment advisory agreement and other arrangements with the Fund.

In connection with their contract review meetings, the Trustees received and relied upon materials that included, among other items: (i) information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent third party, on the investment performance of the Fund for various time periods ended December 31, 2024 and the investment performance of a group of funds with substantially similar investment classifications/objectives (the "Broadridge performance universe"), (ii) information provided by Broadridge on the Fund's advisory fees and other expenses and the advisory fees and other expenses of comparable funds identified by Broadridge as well as all other funds in the same investment classification/category (the "Broadridge expense group and universe"), (iii) information provided by MFS on the advisory fees of portfolios of other clients of MFS, including institutional separate accounts and other clients, (iv) information as to whether and to what extent applicable expense waivers, reimbursements or fee "breakpoints" are observed for the Fund, (v) information regarding MFS' financial results and financial condition, including MFS' and certain of its affiliates' estimated profitability from services performed for the Fund and the MFS Funds as a whole, and compared to MFS' institutional business, (vi) MFS' views regarding the outlook for the mutual fund industry and the strategic business plans of MFS, (vii) descriptions of various functions performed by MFS for the Funds, such as compliance monitoring and portfolio trading practices, and (viii) information regarding the overall organization of MFS, including information about MFS' senior management and other personnel providing investment advisory, administrative and other services to the Fund and the other MFS Funds. The comparative performance, fee and expense information prepared and provided by Broadridge was not independently verified and the independent Trustees did not independently verify any information provided to them by MFS.

The Trustees' conclusion as to the continuation of the investment advisory agreement was based on a comprehensive consideration of all information provided to the Trustees and not the result of any single factor. Some of the factors that figured particularly in the Trustees' deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. It is also important to recognize that the fee arrangements for the Fund and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees' conclusions may be based, in part, on their consideration of these same arrangements during the course of the year and in prior years.

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 1st quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 1st quintile for each of the one- and three-year periods ended December 31, 2024 relative to the Broadridge performance universe. Because of the passage of time, these performance results may differ from the performance results for more recent periods, including those shown elsewhere in this report.

In the course of their deliberations, the Trustees took into account information provided by MFS in connection with the contract review meetings, as well as during investment review meetings conducted with portfolio management personnel during the course of the year regarding the Fund's performance. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that they were satisfied with MFS' responses and efforts relating to investment performance.

------

MFS Blended Research Mid Cap Equity Fund

*Board Review of Investment Advisory Agreement - continued*

In assessing the reasonableness of the Fund's advisory fee, the Trustees considered, among other information, the Fund's advisory fee and the total expense ratio of the Fund's Class I shares as a percentage of average daily net assets and the advisory fee and total expense ratios of the Broadridge expense group based on information provided by Broadridge. The Trustees considered that MFS currently observes an expense limitation for the Fund, which may not be changed without the Trustees' approval. The Trustees also considered that, according to the data provided by Broadridge (which takes into account any fee reductions or expense limitations that were in effect during the Fund's last fiscal year), the Fund's effective advisory fee rate and total expense ratio were each lower than the Broadridge expense group median.

The Trustees also considered the advisory fees charged by MFS to any institutional separate accounts advised by MFS ("separate accounts") and unaffiliated investment companies for which MFS serves as subadviser ("subadvised funds") that have comparable investment strategies to the Fund, if any. In comparing these fees, the Trustees considered information provided by MFS as to the generally broader scope of services provided by MFS to the Fund, as well as the more extensive regulatory burdens imposed on MFS in managing the Fund, in comparison to separate accounts and subadvised funds. The Trustees also considered the higher demands placed on MFS' investment personnel and trading infrastructure as a result of the daily cash in-flows and out-flows of the Fund in comparison to separate accounts.

The Trustees also considered whether the Fund may benefit from any economies of scale in the management of the Fund in the event of growth in assets of the Fund and/or growth in assets of the MFS Funds as a whole. They noted that the Fund's advisory fee rate schedule is subject to contractual breakpoints that reduce the Fund's advisory fee rate on average daily net assets over $1 billion and $2.5 billion. The Trustees also noted that MFS has agreed in writing to waive a portion of the management fees of certain MFS Funds, including the Fund, if the total combined assets of certain funds within the MFS Funds' complex increase above agreed upon thresholds (the "group fee waiver"), enabling the Fund's shareholders to share in the benefits from any economies of scale at the complex level. The group fee waiver is reviewed and renewed annually between the Board and MFS. The Trustees concluded that the breakpoints and the group fee waiver were sufficient to allow the Fund to benefit from economies of scale as its assets and overall complex assets grow.

The Trustees also considered information prepared by MFS relating to MFS' costs and profits with respect to the Fund, the MFS Funds considered as a group, and other investment companies and accounts advised by MFS, as well as MFS' methodologies used to determine and allocate its costs to the MFS Funds, the Fund and other accounts and products for purposes of estimating profitability.

After reviewing these and other factors described herein, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that the advisory fees charged to the Fund represent reasonable compensation in light of the services being provided by MFS to the Fund.

In addition, the Trustees considered MFS' resources and related efforts to continue to retain, attract and motivate capable personnel to serve the Fund. The Trustees also considered current and developing conditions in the financial services industry, including the presence of large and well-capitalized companies which are spending, and appear to be prepared to continue to spend, substantial sums to engage personnel and to provide services to competing investment companies. In this regard, the Trustees also considered the financial resources of MFS and its ultimate parent, Sun Life Financial Inc. The Trustees also considered the advantages and possible disadvantages to the Fund of having an adviser that also serves other investment companies as well as other accounts.

The Trustees also considered the nature, quality, cost, and extent of administrative, transfer agency, and distribution services provided to the Fund by MFS and its affiliates under agreements and plans other than the investment advisory agreement, including any 12b-1 fees the Fund pays to MFS Fund Distributors, Inc., an affiliate of MFS. The Trustees also considered the nature, extent and quality of certain other services MFS performs or arranges for on the Fund's behalf, which may include securities lending programs, directed expense payment programs, class action recovery programs, and MFS' interaction with third-party service providers, principally custodians and sub-custodians. The Trustees concluded that the various non-advisory services provided by MFS and its affiliates on behalf of the Fund were satisfactory.

The Trustees considered so-called "fall-out benefits" to MFS such as reputational value derived from serving as investment manager to the MFS Funds. The Trustees also considered that MFS discontinued its historic practice of obtaining investment research from portfolio brokerage commissions paid by certain MFS Funds effective January 2018, and directly pays or voluntarily reimburses a Fund, if applicable, for the costs of external research acquired through the use of the Fund's portfolio brokerage commissions.

Based on their evaluation of factors that they deemed to be material, including those factors described above, the Board of Trustees, including the independent Trustees, concluded that the Fund's investment advisory agreement with MFS should be continued for an additional one-year period, commencing August 1, 2025.

------

MFS Blended Research Small Cap Equity Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS Blended Research Small Cap Equity Fund

**Portfolio of Investments - 11/30/25 (unaudited)**

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – 99.7% | Common Stocks – 99.7% | Common Stocks – 99.7% |
| Aerospace & Defense – 2.2% | Aerospace & Defense – 2.2% |  |
| CACI International, Inc., "A" (a) | 4270 | &nbsp;&nbsp; $2635017 |
| Karman Holdings, Inc. (a) | 49734 | &nbsp;&nbsp; 3333670 |
| Kratos Defense & Security Solutions, Inc. (a) | 3433 | &nbsp;&nbsp; 261251 |
| Standard Aero, Inc. (a) | 26139 | &nbsp;&nbsp; 682751 |
|  |  | &nbsp;&nbsp; $6912689 |
| Automotive – 1.8% | Automotive – 1.8% |  |
| Goodyear Tire & Rubber Co. (a) | 156915 | &nbsp;&nbsp; $1358884 |
| Lear Corp. | 10591 | &nbsp;&nbsp; 1137050 |
| Methode Electronics, Inc. | 120078 | &nbsp;&nbsp; 910191 |
| Visteon Corp. | 22992 | &nbsp;&nbsp; 2373924 |
|  |  | &nbsp;&nbsp; $5780049 |
| Biotechnology – 2.6% | Biotechnology – 2.6% |  |
| Adaptive Biotechnologies Corp. (a) | 24445 | &nbsp;&nbsp; $480589 |
| Arcus Biosciences, Inc. (a) | 15943 | &nbsp;&nbsp; 416112 |
| BridgeBio Pharma, Inc. (a) | 2278 | &nbsp;&nbsp; 164039 |
| Exact Sciences Corp. (a) | 37458 | &nbsp;&nbsp; 3794121 |
| Exelixis, Inc. (a) | 30047 | &nbsp;&nbsp; 1327176 |
| Intellia Theraputics, Inc. (a) | 24317 | &nbsp;&nbsp; 218610 |
| Novavax, Inc. (a)(l) | 121871 | &nbsp;&nbsp; 859190 |
| Prothena Corp. PLC (a) | 31565 | &nbsp;&nbsp; 339324 |
| Stoke Theraputics, Inc. (a) | 13121 | &nbsp;&nbsp; 405570 |
| Tango Therapeutics, Inc. (a) | 19250 | &nbsp;&nbsp; 210017 |
|  |  | &nbsp;&nbsp; $8214748 |
| Brokerage & Asset Managers – 0.6% | Brokerage & Asset Managers – 0.6% |  |
| A-Mark Precious Metals, Inc. | 17950 | &nbsp;&nbsp; $515345 |
| Hamilton Lane, Inc., "A" | 6164 | &nbsp;&nbsp; 763935 |
| PJT Partners, Inc. | 2632 | &nbsp;&nbsp; 442202 |
|  |  | &nbsp;&nbsp; $1721482 |
| Business Services – 2.2% | Business Services – 2.2% |  |
| BlueLinx Holdings, Inc. (a) | 19029 | &nbsp;&nbsp; $1187219 |
| Concentrix Corp. | 4164 | &nbsp;&nbsp; 150778 |
| TriNet Group, Inc. | 69918 | &nbsp;&nbsp; 4097195 |
| World Fuel Services Corp. | 62877 | &nbsp;&nbsp; 1457489 |
|  |  | &nbsp;&nbsp; $6892681 |
| Chemicals – 2.8% | Chemicals – 2.8% |  |
| Avient Corp. | 130164 | &nbsp;&nbsp; $3981717 |
| BioLife Solutions, Inc. (a) | 31272 | &nbsp;&nbsp; 828708 |
| Element Solutions, Inc. | 158013 | &nbsp;&nbsp; 4095697 |
|  |  | &nbsp;&nbsp; $8906122 |

---

BRSFS-SEM

------

MFS Blended Research Small Cap Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Computer Software – 6.1% | Computer Software – 6.1% |  |
| ACI Worldwide, Inc. (a) | 45854 | &nbsp;&nbsp; $2148718 |
| Alkami Technology, Inc. (a) | 56550 | &nbsp;&nbsp; 1205646 |
| BILL Holdings, Inc. (a) | 55745 | &nbsp;&nbsp; 2795612 |
| Cerence, Inc. (a) | 142774 | &nbsp;&nbsp; 1581936 |
| Clear Secure, Inc., "A" | 71189 | &nbsp;&nbsp; 2527210 |
| Consensus Cloud Solutions, Inc. (a) | 15360 | &nbsp;&nbsp; 335462 |
| D-Wave Quantum, Inc. (a) | 29251 | &nbsp;&nbsp; 663120 |
| Elastic N.V. (a) | 35905 | &nbsp;&nbsp; 2532380 |
| Five9, Inc. (a) | 174808 | &nbsp;&nbsp; 3424489 |
| Netskope, Inc., "A" (a) | 26843 | &nbsp;&nbsp; 493374 |
| PagerDuty, Inc. (a) | 7106 | &nbsp;&nbsp; 85272 |
| SentinelOne, Inc., "A" (a) | 64715 | &nbsp;&nbsp; 1049030 |
| Thryv, Inc. (a) | 63370 | &nbsp;&nbsp; 356773 |
|  |  | &nbsp;&nbsp; $19199022 |
| Computer Software - Systems – 2.3% | Computer Software - Systems – 2.3% |  |
| Adtran Holdings, Inc. (a) | 47678 | &nbsp;&nbsp; $378086 |
| Credo Technology Group Holdings Ltd. (a) | 8710 | &nbsp;&nbsp; 1546896 |
| IonQ, Inc. (a) | 8359 | &nbsp;&nbsp; 412099 |
| Pitney Bowes, Inc. | 34749 | &nbsp;&nbsp; 342625 |
| Q2 Holdings, Inc. (a) | 53644 | &nbsp;&nbsp; 3869342 |
| Rigetti Computing, Inc. (a) | 3344 | &nbsp;&nbsp; 85506 |
| ScanSource, Inc. (a) | 14344 | &nbsp;&nbsp; 589825 |
|  |  | &nbsp;&nbsp; $7224379 |
| Construction – 1.3% | Construction – 1.3% |  |
| James Hardie Industries PLC (a) | 54330 | &nbsp;&nbsp; $1074647 |
| Mohawk Industries, Inc. (a) | 24069 | &nbsp;&nbsp; 2789597 |
| SiteOne Landscape Supply, Inc. (a) | 902 | &nbsp;&nbsp; 121121 |
|  |  | &nbsp;&nbsp; $3985365 |
| Consumer Products – 2.2% | Consumer Products – 2.2% |  |
| e.l.f. Beauty, Inc. (a) | 16083 | &nbsp;&nbsp; $1225042 |
| Herbalife Ltd. (a) | 27828 | &nbsp;&nbsp; 354250 |
| Newell Brands, Inc. | 728781 | &nbsp;&nbsp; 2660051 |
| Prestige Consumer Healthcare, Inc. (a) | 42643 | &nbsp;&nbsp; 2539391 |
|  |  | &nbsp;&nbsp; $6778734 |
| Consumer Services – 3.1% | Consumer Services – 3.1% |  |
| Adtalem Global Education, Inc. (a) | 34039 | &nbsp;&nbsp; $3150650 |
| European Wax Center, Inc., "A" (a) | 46917 | &nbsp;&nbsp; 181569 |
| Grand Canyon Education, Inc. (a) | 22047 | &nbsp;&nbsp; 3477694 |
| Lyft, Inc. (a) | 131517 | &nbsp;&nbsp; 2765802 |
|  |  | &nbsp;&nbsp; $9575715 |
| Electrical Equipment – 1.4% | Electrical Equipment – 1.4% |  |
| Armstrong World Industries, Inc. | 23475 | &nbsp;&nbsp; $4454146 |
| Electronics – 5.6% | Electronics – 5.6% |  |
| Advanced Energy Industries, Inc. | 25557 | &nbsp;&nbsp; $5397383 |
| Allegro MicroSystems, Inc. (a) | 69575 | &nbsp;&nbsp; 1856957 |
| Alpha and Omega Semiconductor Ltd. (a) | 19557 | &nbsp;&nbsp; 396616 |
| Cirrus Logic, Inc. (a) | 12195 | &nbsp;&nbsp; 1467546 |

---

------

MFS Blended Research Small Cap Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Electronics – continued | Electronics – continued |  |
| Fabrinet (a) | 1297 | &nbsp;&nbsp; $595855 |
| Formfactor, Inc. (a) | 73791 | &nbsp;&nbsp; 4059981 |
| Kimball Electronics, Inc. (a) | 43141 | &nbsp;&nbsp; 1246775 |
| Photronics, Inc. (a) | 64182 | &nbsp;&nbsp; 1470409 |
| Sanmina Corp. (a) | 6340 | &nbsp;&nbsp; 990086 |
|  |  | &nbsp;&nbsp; $17481608 |
| Energy - Independent – 1.5% | Energy - Independent – 1.5% |  |
| Par Pacific Holdings, Inc. (a) | 30021 | &nbsp;&nbsp; $1370459 |
| Permian Resources Corp. | 158743 | &nbsp;&nbsp; 2300186 |
| SM Energy Co. | 52444 | &nbsp;&nbsp; 999058 |
|  |  | &nbsp;&nbsp; $4669703 |
| Energy - Renewables – 1.3% | Energy - Renewables – 1.3% |  |
| Bloom Energy Corp. (a) | 28734 | &nbsp;&nbsp; $3138902 |
| Green Plains, Inc. (a) | 24357 | &nbsp;&nbsp; 251608 |
| Nextpower, Inc. "A" (a) | 3928 | &nbsp;&nbsp; 359884 |
| Oklo, Inc. (a) | 1477 | &nbsp;&nbsp; 134968 |
| Shoals Technologies Group, Inc. (a) | 34295 | &nbsp;&nbsp; 287735 |
|  |  | &nbsp;&nbsp; $4173097 |
| Engineering - Construction – 4.5% | Engineering - Construction – 4.5% |  |
| APi Group, Inc. (a) | 84358 | &nbsp;&nbsp; $3337202 |
| Centuri Holdings, Inc. (a) | 48995 | &nbsp;&nbsp; 1101898 |
| Legence Corp., "A" (a) | 35212 | &nbsp;&nbsp; 1619048 |
| MYR Group, Inc. (a) | 1925 | &nbsp;&nbsp; 431816 |
| Primoris Services Corp. | 8570 | &nbsp;&nbsp; 1084619 |
| Sterling Infrastructure, Inc. (a) | 10473 | &nbsp;&nbsp; 3605959 |
| Tutor Perini Corp. | 40966 | &nbsp;&nbsp; 2808219 |
|  |  | &nbsp;&nbsp; $13988761 |
| Entertainment – 0.2% | Entertainment – 0.2% |  |
| Quad/Graphics, Inc. | 114246 | &nbsp;&nbsp; $655772 |
| Gaming & Lodging – 0.7% | Gaming & Lodging – 0.7% |  |
| Brightstar Lottery PLC | 134592 | &nbsp;&nbsp; $2105019 |
| Super Group SGHC Ltd. | 18895 | &nbsp;&nbsp; 204633 |
|  |  | &nbsp;&nbsp; $2309652 |
| Insurance – 4.4% | Insurance – 4.4% |  |
| Hanover Insurance Group, Inc. | 18781 | &nbsp;&nbsp; $3484815 |
| Kemper Corp. | 59538 | &nbsp;&nbsp; 2424387 |
| Lincoln National Corp. | 94211 | &nbsp;&nbsp; 3875840 |
| Neptune Insurance Holdings, Inc., "A" (a) | 17896 | &nbsp;&nbsp; 417335 |
| Voya Financial, Inc. | 52882 | &nbsp;&nbsp; 3717605 |
|  |  | &nbsp;&nbsp; $13919982 |
| Interactive Media Services – 0.5% | Interactive Media Services – 0.5% |  |
| Phoenix Educations Partners, Inc. (a) | 48515 | &nbsp;&nbsp; $1635441 |

---

------

MFS Blended Research Small Cap Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Internet – 1.9% | Internet – 1.9% |  |
| CarGurus, Inc. (a) | 78954 | &nbsp;&nbsp; $2785497 |
| EverQuote, Inc., "A" (a) | 87235 | &nbsp;&nbsp; 2302132 |
| Yelp, Inc. (a) | 30382 | &nbsp;&nbsp; 878343 |
|  |  | &nbsp;&nbsp; $5965972 |
| Leisure & Toys – 2.2% | Leisure & Toys – 2.2% |  |
| Brunswick Corp. | 54723 | &nbsp;&nbsp; $3617738 |
| Corsair Gaming, Inc. (a) | 515062 | &nbsp;&nbsp; 3358204 |
|  |  | &nbsp;&nbsp; $6975942 |
| Machinery & Tools – 3.2% | Machinery & Tools – 3.2% |  |
| AGCO Corp. | 34642 | &nbsp;&nbsp; $3670666 |
| Flowserve Corp. | 62141 | &nbsp;&nbsp; 4433760 |
| Regal Rexnord Corp. | 13416 | &nbsp;&nbsp; 1958602 |
|  |  | &nbsp;&nbsp; $10063028 |
| Major Banks – 0.1% | Major Banks – 0.1% |  |
| Dave, Inc. (a) | 1167 | &nbsp;&nbsp; $254709 |
| Medical & Health Technology & Services – 2.4% | Medical & Health Technology & Services – 2.4% |  |
| Enhabit, Inc. (a) | 59398 | &nbsp;&nbsp; $531018 |
| GeneDX Holdings Corp. (a) | 26059 | &nbsp;&nbsp; 4350550 |
| Ginkgo Bioworks Holdings, Inc. (a) | 34535 | &nbsp;&nbsp; 320485 |
| Guardant Health, Inc. (a) | 1807 | &nbsp;&nbsp; 195915 |
| Owens & Minor, Inc. (a) | 68956 | &nbsp;&nbsp; 187560 |
| Schrodinger, Inc. (a) | 25103 | &nbsp;&nbsp; 440809 |
| Teladoc Health, Inc. (a) | 198479 | &nbsp;&nbsp; 1506456 |
|  |  | &nbsp;&nbsp; $7532793 |
| Medical Equipment – 4.9% | Medical Equipment – 4.9% |  |
| Anika Therapeutics, Inc. (a) | 31845 | &nbsp;&nbsp; $314629 |
| AtriCure, Inc. (a) | 78529 | &nbsp;&nbsp; 2836467 |
| Billiontoone, Inc., "A" (a) | 4241 | &nbsp;&nbsp; 552093 |
| Bio-Rad Laboratories, Inc., "A" (a) | 2852 | &nbsp;&nbsp; 926501 |
| Caris Life Sciences, Inc. (a)(l) | 18834 | &nbsp;&nbsp; 480832 |
| Concentra Group Holdings, Inc. | 106392 | &nbsp;&nbsp; 2187419 |
| Embecta Corp. | 20050 | &nbsp;&nbsp; 255738 |
| Envista Holdings Corp. (a) | 192184 | &nbsp;&nbsp; 4016646 |
| iRhythm Technologies, Inc. (a) | 9527 | &nbsp;&nbsp; 1791171 |
| MiMedx Group, Inc. (a) | 44104 | &nbsp;&nbsp; 303436 |
| Myriad Genetics, Inc. (a) | 67804 | &nbsp;&nbsp; 517344 |
| QuidelOrtho Corp. (a) | 42808 | &nbsp;&nbsp; 1170799 |
|  |  | &nbsp;&nbsp; $15353075 |
| Metals & Mining – 0.1% | Metals & Mining – 0.1% |  |
| Caledonia Mining Corp. PLC | 5971 | &nbsp;&nbsp; $183967 |
| Natural Gas - Distribution – 1.6% | Natural Gas - Distribution – 1.6% |  |
| Southwest Gas Holdings, Inc. | 35884 | &nbsp;&nbsp; $2980166 |
| UGI Corp. | 49335 | &nbsp;&nbsp; 1951199 |
|  |  | &nbsp;&nbsp; $4931365 |

---

------

MFS Blended Research Small Cap Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Network & Telecom – 0.1% | Network & Telecom – 0.1% |  |
| CommScope Holding Co., Inc. (a) | 8344 | &nbsp;&nbsp; $164711 |
| Oil Services – 3.1% | Oil Services – 3.1% |  |
| Expro Group Holdings N.V. (a) | 254036 | &nbsp;&nbsp; $3543802 |
| NOV, Inc. | 60415 | &nbsp;&nbsp; 927974 |
| Oil States International, Inc. (a) | 262703 | &nbsp;&nbsp; 1655029 |
| Weatherford International PLC | 49340 | &nbsp;&nbsp; 3690632 |
|  |  | &nbsp;&nbsp; $9817437 |
| Other Banks & Diversified Financials – 12.9% | Other Banks & Diversified Financials – 12.9% |  |
| Banc of California, Inc. | 233167 | &nbsp;&nbsp; $4299599 |
| Berkshire Hills Bancorp, Inc. | 62701 | &nbsp;&nbsp; 1604519 |
| Bread Financial Holdings, Inc. | 31958 | &nbsp;&nbsp; 2164515 |
| Cathay General Bancorp, Inc. | 67529 | &nbsp;&nbsp; 3271105 |
| Central Banco, Inc. | 42427 | &nbsp;&nbsp; 999580 |
| Columbia Banking System, Inc. | 144365 | &nbsp;&nbsp; 4001798 |
| East West Bancorp, Inc. | 35340 | &nbsp;&nbsp; 3770778 |
| Popular, Inc. | 40747 | &nbsp;&nbsp; 4674088 |
| PROG Holdings, Inc. | 45875 | &nbsp;&nbsp; 1320282 |
| Sezzle, Inc. (a) | 20623 | &nbsp;&nbsp; 1273470 |
| SLM Corp. | 105482 | &nbsp;&nbsp; 3090623 |
| Texas Capital Bancshares, Inc. (a) | 48615 | &nbsp;&nbsp; 4383615 |
| UMB Financial Corp. | 39820 | &nbsp;&nbsp; 4423206 |
| United Community Bank, Inc. | 42306 | &nbsp;&nbsp; 1292871 |
|  |  | &nbsp;&nbsp; $40570049 |
| Pharmaceuticals – 8.3% | Pharmaceuticals – 8.3% |  |
| ACADIA Pharmaceuticals, Inc. (a) | 41757 | &nbsp;&nbsp; $1045595 |
| Amicus Therapeutics, Inc. (a) | 86192 | &nbsp;&nbsp; 855887 |
| Amneal Pharmaceuticals, Inc. (a) | 120432 | &nbsp;&nbsp; 1507809 |
| Arcturus Therapeutics Holdings, Inc. (a) | 42132 | &nbsp;&nbsp; 286076 |
| Catalyst Pharmaceuticals, Inc. (a) | 53179 | &nbsp;&nbsp; 1244920 |
| Collegium Pharmaceutical, Inc. (a) | 4798 | &nbsp;&nbsp; 223971 |
| Cytokinetics, Inc. (a) | 25206 | &nbsp;&nbsp; 1717285 |
| Indivior PLC (a) | 34452 | &nbsp;&nbsp; 1157587 |
| Ionis Pharmaceuticals, Inc. (a) | 16996 | &nbsp;&nbsp; 1406079 |
| Jazz Pharmaceuticals PLC (a) | 5883 | &nbsp;&nbsp; 1038526 |
| Kiniksa Pharmaceuticals International PLC (a) | 45697 | &nbsp;&nbsp; 1943036 |
| Kymera Therapeutics, Inc. (a) | 26270 | &nbsp;&nbsp; 1783208 |
| Neurocrine Biosciences, Inc. (a) | 5928 | &nbsp;&nbsp; 902004 |
| Nurix Therapeutics, Inc. (a) | 30083 | &nbsp;&nbsp; 531867 |
| Organon & Co. | 233799 | &nbsp;&nbsp; 1802590 |
| Phibro Animal Health Corp., "A" | 42270 | &nbsp;&nbsp; 1770268 |
| PTC Therapeutics, Inc. (a) | 30619 | &nbsp;&nbsp; 2632928 |
| REGENXBIO, Inc. (a) | 78964 | &nbsp;&nbsp; 1057328 |
| Rigel Pharmaceuticals, Inc. (a) | 36381 | &nbsp;&nbsp; 1836877 |
| Ultragenyx Pharmaceutical, Inc. (a) | 15010 | &nbsp;&nbsp; 521598 |
| Vanda Pharmaceuticals, Inc. (a) | 71142 | &nbsp;&nbsp; 381321 |
| Zymeworks, Inc. (a) | 19286 | &nbsp;&nbsp; 515129 |
|  |  | &nbsp;&nbsp; $26161889 |
| Precious Metals & Minerals – 0.7% | Precious Metals & Minerals – 0.7% |  |
| Hecla Mining Co. | 136552 | &nbsp;&nbsp; $2296805 |

---

------

MFS Blended Research Small Cap Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Real Estate – 2.9% | Real Estate – 2.9% |  |
| Cushman & Wakefield Ltd. (a) | 70293 | &nbsp;&nbsp; $1177408 |
| Essential Properties Realty Trust, REIT | 134608 | &nbsp;&nbsp; 4261689 |
| NNN REIT, Inc. | 89660 | &nbsp;&nbsp; 3707441 |
|  |  | &nbsp;&nbsp; $9146538 |
| Real Estate - Office – 2.6% | Real Estate - Office – 2.6% |  |
| Cousins Properties, Inc., REIT | 20863 | &nbsp;&nbsp; $537848 |
| Highwoods Properties, Inc., REIT | 122375 | &nbsp;&nbsp; 3402025 |
| Piedmont Office Realty Trust, Inc., REIT | 483998 | &nbsp;&nbsp; 4230143 |
|  |  | &nbsp;&nbsp; $8170016 |
| Restaurants – 1.0% | Restaurants – 1.0% |  |
| Chefs' Warehouse, Inc. (a) | 48880 | &nbsp;&nbsp; $2997322 |
| Specialty Stores – 0.5% | Specialty Stores – 0.5% |  |
| Bath & Body Works, Inc. | 56854 | &nbsp;&nbsp; $989828 |
| Genesco, Inc. (a) | 15885 | &nbsp;&nbsp; 569477 |
|  |  | &nbsp;&nbsp; $1559305 |
| Tobacco – 0.9% | Tobacco – 0.9% |  |
| Mativ Holdings, Inc. | 231836 | &nbsp;&nbsp; $2895632 |
| Trucking – 1.2% | Trucking – 1.2% |  |
| RXO, Inc. (a) | 152999 | &nbsp;&nbsp; $2022647 |
| Saia, Inc. (a) | 5789 | &nbsp;&nbsp; 1629951 |
|  |  | &nbsp;&nbsp; $3652598 |
| Utilities - Electric Power – 1.8% | Utilities - Electric Power – 1.8% |  |
| Hawaiian Electric Industries, Inc. (a) | 32729 | &nbsp;&nbsp; $384893 |
| Portland General Electric Co. | 101828 | &nbsp;&nbsp; 5174899 |
|  |  | &nbsp;&nbsp; $5559792 |
| **Total Common Stocks (Identified Cost, $265,052,534)** |  | &nbsp;&nbsp; **$312732093** |
| Mutual Funds (h) – 0.3% | Mutual Funds (h) – 0.3% | Mutual Funds (h) – 0.3% |
| Money Market Funds – 0.3% | Money Market Funds – 0.3% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) (Identified Cost, $1,052,740) | 1052699 | &nbsp;&nbsp; $1052909 |
| Collateral for Securities Loaned – 0.3% | Collateral for Securities Loaned – 0.3% | Collateral for Securities Loaned – 0.3% |
| JPMorgan U.S. Government Money Market Fund - Class IM Shares, 3.93% (j) (Identified Cost, $1,067,550) | 1067550 | &nbsp;&nbsp; $1067550 |
| Other Assets, Less Liabilities – (0.3)% |  | &nbsp;&nbsp; (1082482) |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$313770070** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $1,052,909 and $313,799,643, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(j) The rate quoted is the annualized seven-day yield of the fund at period end.

&nbsp;&nbsp;&nbsp;&nbsp;(l) A portion of this security is on loan. See Note 2 for additional information.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

------

MFS Blended Research Small Cap Equity Fund

*Portfolio of Investments (unaudited) – continued*

The following abbreviations are used in this report and are defined: <br> REIT Real Estate Investment Trust

**See Notes to Financial Statements**

------

MFS Blended Research Small Cap Equity Fund

**Financial Statements** \| **Statement of Assets and Liabilities**

This statement represents your fund's balance sheet, which details the assets and liabilities comprising the total value of the fund.

---

| | |
|:---|:---|
| **At 11/30/25 (unaudited)**<br> **Assets**<br>|  |
| Investments in unaffiliated issuers, at value, including $1,043,298 of securities on loan (identified cost, $266,120,084) | &nbsp;&nbsp; $313799643 |
| Investments in affiliated issuers, at value (identified cost, $1,052,740) | &nbsp;&nbsp; 1052909 |
| Receivables for |  |
| Fund shares sold | &nbsp;&nbsp; 205078 |
| Interest and dividends | &nbsp;&nbsp; 393471 |
| Receivable from investment adviser | &nbsp;&nbsp; 4609 |
| Other assets | &nbsp;&nbsp; 30749 |
| Total assets | &nbsp;&nbsp; $315486459 |
| **Liabilities** |  |
| Payables for |  |
| Fund shares reacquired | &nbsp;&nbsp; $528293 |
| Collateral for securities loaned, at value | &nbsp;&nbsp; 1067550 |
| Payable to affiliates |  |
| Administrative services fee | &nbsp;&nbsp; 692 |
| Shareholder servicing costs | &nbsp;&nbsp; 59428 |
| Distribution and service fees | &nbsp;&nbsp; 2216 |
| Payable for independent Trustees' compensation | &nbsp;&nbsp; 113 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 58097 |
| Total liabilities | &nbsp;&nbsp; $1716389 |
| Net assets | &nbsp;&nbsp; $313770070 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $248046857 |
| Total distributable earnings (loss) | &nbsp;&nbsp; 65723213 |
| Net assets | &nbsp;&nbsp; $313770070 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 19887703 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | &nbsp;&nbsp; **Shares** <br>**outstanding**<br>| &nbsp;&nbsp; **Net asset value** <br>**per share (a)**<br>|
| Class A | &nbsp;&nbsp;&nbsp; $38952966 | &nbsp;&nbsp;&nbsp; 2495957 | &nbsp;&nbsp;&nbsp; $15.61 |
| Class B | &nbsp;&nbsp;&nbsp; 162324 | &nbsp;&nbsp;&nbsp; 10940 | &nbsp;&nbsp;&nbsp;&nbsp;14.84 |
| Class C | &nbsp;&nbsp;&nbsp; 4025192 | &nbsp;&nbsp;&nbsp; 272251 | &nbsp;&nbsp;&nbsp;&nbsp;14.78 |
| Class I | &nbsp;&nbsp;&nbsp; 118995790 | &nbsp;&nbsp;&nbsp; 7534460 | &nbsp;&nbsp;&nbsp;&nbsp;15.79 |
| Class R1 | &nbsp;&nbsp;&nbsp; 968250 | &nbsp;&nbsp;&nbsp; 65490 | &nbsp;&nbsp;&nbsp;&nbsp;14.78 |
| Class R2 | &nbsp;&nbsp;&nbsp; 2767683 | &nbsp;&nbsp;&nbsp; 179032 | &nbsp;&nbsp;&nbsp;&nbsp;15.46 |
| Class R3 | &nbsp;&nbsp;&nbsp; 1294133 | &nbsp;&nbsp;&nbsp; 82839 | &nbsp;&nbsp;&nbsp;&nbsp;15.62 |
| Class R4 | &nbsp;&nbsp;&nbsp; 20297558 | &nbsp;&nbsp;&nbsp; 1283446 | &nbsp;&nbsp;&nbsp;&nbsp;15.81 |
| Class R6 | &nbsp;&nbsp;&nbsp; 126306174 | &nbsp;&nbsp;&nbsp; 7963288 | &nbsp;&nbsp;&nbsp;&nbsp;15.86 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Maximum offering price per share was equal to the net asset value per share for all
 share classes, except for Class A, for which the maximum offering price per share was $16.56 [100 / 94.25 x $15.61]. On sales of $50,000 or
 more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class
 A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and
 R6.

**See Notes to Financial Statements**

------

MFS Blended Research Small Cap Equity Fund

**Financial Statements** \| **Statement of Operations**

This statement describes how much your fund earned in investment income and accrued in expenses. It also describes any gains and/or losses generated by fund operations.

---

| | |
|:---|:---|
| **Six months ended 11/30/25 (unaudited)**<br> **Net investment income (loss)**<br>|  |
| Income |  |
| Dividends from unaffiliated issuers | &nbsp;&nbsp; $2518071 |
| Dividends from affiliated issuers | &nbsp;&nbsp; 38782 |
| Other | &nbsp;&nbsp; 30294 |
| Income on securities loaned | &nbsp;&nbsp; 5442 |
| Foreign taxes withheld | &nbsp;&nbsp; (3288)<br>|
| Total investment income | &nbsp;&nbsp; $2589301 |
| Expenses |  |
| Management fee | &nbsp;&nbsp; $1024228 |
| Distribution and service fees | &nbsp;&nbsp; 104560 |
| Shareholder servicing costs | &nbsp;&nbsp; 116371 |
| Administrative services fee | &nbsp;&nbsp; 25506 |
| Independent Trustees' compensation | &nbsp;&nbsp; 4306 |
| Custodian fee | &nbsp;&nbsp; 10550 |
| Shareholder communications | &nbsp;&nbsp; 10668 |
| Audit and tax fees | &nbsp;&nbsp; 35363 |
| Legal fees | &nbsp;&nbsp; 840 |
| Miscellaneous | &nbsp;&nbsp; 84612 |
| Total expenses | &nbsp;&nbsp; $1417004 |
| Reduction of expenses by investment adviser and distributor | &nbsp;&nbsp; (208496)<br>|
| Net expenses | &nbsp;&nbsp; $1208508 |
| Net investment income (loss) | &nbsp;&nbsp; $1380793 |
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Unaffiliated issuers | &nbsp;&nbsp; $14023591 |
| Affiliated issuers | &nbsp;&nbsp; 537 |
| Net realized gain (loss) | &nbsp;&nbsp; $14024128 |
| Change in unrealized appreciation or depreciation |  |
| Unaffiliated issuers | &nbsp;&nbsp; $33988850 |
| Affiliated issuers | &nbsp;&nbsp; 169 |
| Net unrealized gain (loss) | &nbsp;&nbsp; $33989019 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $48013147 |
| Change in net assets from operations | &nbsp;&nbsp; $49393940 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Small Cap Equity Fund

**Financial Statements** \| **Statements of Changes in Net Assets**

These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions.

---

| | | |
|:---|:---|:---|
|  | **Six months ended** | **Year ended** |
|  | <br>**11/30/25** <br>**(unaudited)**<br>| <br>**5/31/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $1380793 | &nbsp;&nbsp; $1905169 |
| Net realized gain (loss) | 14024128 | &nbsp;&nbsp; 13972415 |
| Net unrealized gain (loss) | 33989019 | &nbsp;&nbsp; (30160622)<br>|
| Change in net assets from operations | $49393940 | &nbsp;&nbsp; $(14283038)<br>|
| Total distributions to shareholders | $— | &nbsp;&nbsp; $(23937608)<br>|
| Change in net assets from fund share transactions | $(40586905)<br>| &nbsp;&nbsp; $3472858 |
| Total change in net assets | $8807035 | &nbsp;&nbsp; $(34747788)<br>|
| **Net assets** |  |  |
| At beginning of period | 304963035 | &nbsp;&nbsp; 339710823 |
| At end of period | $313770070 | &nbsp;&nbsp; $304963035 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Small Cap Equity Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years. Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class A** | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $13.37 | &nbsp;&nbsp; $15.16 | &nbsp;&nbsp; $12.56 | &nbsp;&nbsp; $14.31 | &nbsp;&nbsp; $17.57 | &nbsp;&nbsp; $11.33 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.05 | &nbsp;&nbsp; $0.05 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.08 | &nbsp;&nbsp; $0.03 | &nbsp;&nbsp; $0.04 |
| Net realized and unrealized gain (loss) | 2.19 | &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.60 | &nbsp;&nbsp; (1.29)<br>| &nbsp;&nbsp; (1.18)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.26 |
| Total from investment operations | $2.24 | &nbsp;&nbsp; $(0.69)<br>| &nbsp;&nbsp; $2.69 | &nbsp;&nbsp; $(1.21)<br>| &nbsp;&nbsp; $(1.15)<br>| &nbsp;&nbsp; $6.30 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.17)<br>| &nbsp;&nbsp; $(0.09)<br>| $— | $— | &nbsp;&nbsp; $(0.06)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.93)<br>|  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (2.11)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.10)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(2.11)<br>| &nbsp;&nbsp; $(0.06)<br>|
| Net asset value, end of period (x) | $15.61 | &nbsp;&nbsp; $13.37 | &nbsp;&nbsp; $15.16 | &nbsp;&nbsp; $12.56 | &nbsp;&nbsp; $14.31 | &nbsp;&nbsp; $17.57 |
| Total return (%) (r)(s)(t)(x) | 16.75<br> (n)<br>| &nbsp;&nbsp; (5.62)<br>| &nbsp;&nbsp;&nbsp;&nbsp;21.38 | &nbsp;&nbsp; (8.65)<br>| &nbsp;&nbsp; (7.52)<br>| &nbsp;&nbsp;&nbsp;&nbsp;55.75 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.12<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 |
| Expenses after expense reductions | 0.99<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 |
| Net investment income (loss) | 0.65<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;&nbsp;0.26 |
| Portfolio turnover rate | 37<br> (n)<br>| &nbsp;&nbsp; 66 | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 80 |
| Net assets at end of period (000 omitted) | $38953 | &nbsp;&nbsp; $36287 | &nbsp;&nbsp; $40727 | &nbsp;&nbsp; $33667 | &nbsp;&nbsp; $40921 | &nbsp;&nbsp; $73141 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Small Cap Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class B** | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $12.76 | &nbsp;&nbsp; $14.47 | &nbsp;&nbsp; $12.01 | &nbsp;&nbsp; $13.81 | &nbsp;&nbsp; $17.15 | &nbsp;&nbsp; $11.10 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.01)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.08)<br>| &nbsp;&nbsp; $(0.07)<br>|
| Net realized and unrealized gain (loss) | 2.09 | &nbsp;&nbsp; (0.72)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.48 | &nbsp;&nbsp; (1.24)<br>| &nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.12 |
| Total from investment operations | $2.08 | &nbsp;&nbsp; $(0.78)<br>| &nbsp;&nbsp; $2.46 | &nbsp;&nbsp; $(1.26)<br>| &nbsp;&nbsp; $(1.23)<br>| &nbsp;&nbsp; $6.05 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | $— | $— | $— | $— | $— |
| From net realized gain |  | &nbsp;&nbsp; (0.93)<br>|  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (2.11)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.93)<br>| $— | &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(2.11)<br>| $— |
| Net asset value, end of period (x) | $14.84 | &nbsp;&nbsp; $12.76 | &nbsp;&nbsp; $14.47 | &nbsp;&nbsp; $12.01 | &nbsp;&nbsp; $13.81 | &nbsp;&nbsp; $17.15 |
| Total return (%) (r)(s)(t)(x) | 16.30<br> (n)<br>| &nbsp;&nbsp; (6.34)<br>| &nbsp;&nbsp;&nbsp;&nbsp;20.48 | &nbsp;&nbsp; (9.34)<br>| &nbsp;&nbsp; (8.21)<br>| &nbsp;&nbsp;&nbsp;&nbsp;54.50 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.87<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.89 | &nbsp;&nbsp;&nbsp;&nbsp;1.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.86 |
| Expenses after expense reductions | 1.74<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 |
| Net investment income (loss) | (0.09)(a)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; (0.52)<br>|
| Portfolio turnover rate | 37<br> (n)<br>| &nbsp;&nbsp; 66 | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 80 |
| Net assets at end of period (000 omitted) | $162 | &nbsp;&nbsp; $171 | &nbsp;&nbsp; $355 | &nbsp;&nbsp; $451 | &nbsp;&nbsp; $664 | &nbsp;&nbsp; $615 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class C** | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $12.71 | &nbsp;&nbsp; $14.46 | &nbsp;&nbsp; $11.99 | &nbsp;&nbsp; $13.79 | &nbsp;&nbsp; $17.14 | &nbsp;&nbsp; $11.09 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.01)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.07)<br>|
| Net realized and unrealized gain (loss) | 2.08 | &nbsp;&nbsp; (0.72)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.49 | &nbsp;&nbsp; (1.24)<br>| &nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.12 |
| Total from investment operations | $2.07 | &nbsp;&nbsp; $(0.78)<br>| &nbsp;&nbsp; $2.47 | &nbsp;&nbsp; $(1.26)<br>| &nbsp;&nbsp; $(1.24)<br>| &nbsp;&nbsp; $6.05 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.04)<br>| $— | $— | $— | $— |
| From net realized gain |  | &nbsp;&nbsp; (0.93)<br>|  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (2.11)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.97)<br>| $— | &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(2.11)<br>| $— |
| Net asset value, end of period (x) | $14.78 | &nbsp;&nbsp; $12.71 | &nbsp;&nbsp; $14.46 | &nbsp;&nbsp; $11.99 | &nbsp;&nbsp; $13.79 | &nbsp;&nbsp; $17.14 |
| Total return (%) (r)(s)(t)(x) | 16.29<br> (n)<br>| &nbsp;&nbsp; (6.40)<br>| &nbsp;&nbsp;&nbsp;&nbsp;20.60 | &nbsp;&nbsp; (9.35)<br>| &nbsp;&nbsp; (8.27)<br>| &nbsp;&nbsp;&nbsp;&nbsp;54.55 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.87<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.89 | &nbsp;&nbsp;&nbsp;&nbsp;1.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.87 |
| Expenses after expense reductions | 1.74<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 |
| Net investment income (loss) | (0.11)(a)<br>| &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (0.53)<br>| &nbsp;&nbsp; (0.50)<br>|
| Portfolio turnover rate | 37<br> (n)<br>| &nbsp;&nbsp; 66 | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 80 |
| Net assets at end of period (000 omitted) | $4025 | &nbsp;&nbsp; $3666 | &nbsp;&nbsp; $4989 | &nbsp;&nbsp; $5319 | &nbsp;&nbsp; $6593 | &nbsp;&nbsp; $7503 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Small Cap Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class I** | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $13.51 | &nbsp;&nbsp; $15.31 | &nbsp;&nbsp; $12.68 | &nbsp;&nbsp; $14.40 | &nbsp;&nbsp; $17.67 | &nbsp;&nbsp; $11.39 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.07 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.13 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.07 |
| Net realized and unrealized gain (loss) | 2.21 | &nbsp;&nbsp; (0.75)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.62 | &nbsp;&nbsp; (1.29)<br>| &nbsp;&nbsp; (1.22)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.31 |
| Total from investment operations | $2.28 | &nbsp;&nbsp; $(0.66)<br>| &nbsp;&nbsp; $2.75 | &nbsp;&nbsp; $(1.18)<br>| &nbsp;&nbsp; $(1.13)<br>| &nbsp;&nbsp; $6.38 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.21)<br>| &nbsp;&nbsp; $(0.12)<br>| $— | &nbsp;&nbsp; $(0.03)<br>| &nbsp;&nbsp; $(0.10)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.93)<br>|  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (2.11)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.14)<br>| &nbsp;&nbsp; $(0.12)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(2.14)<br>| &nbsp;&nbsp; $(0.10)<br>|
| Net asset value, end of period (x) | $15.79 | &nbsp;&nbsp; $13.51 | &nbsp;&nbsp; $15.31 | &nbsp;&nbsp; $12.68 | &nbsp;&nbsp; $14.40 | &nbsp;&nbsp; $17.67 |
| Total return (%) (r)(s)(t)(x) | 16.88<br> (n)<br>| &nbsp;&nbsp; (5.41)<br>| &nbsp;&nbsp;&nbsp;&nbsp;21.68 | &nbsp;&nbsp; (8.38)<br>| &nbsp;&nbsp; (7.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp;56.17 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.87<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.87 |
| Expenses after expense reductions | 0.74<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 |
| Net investment income (loss) | 0.90<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;&nbsp;0.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.46 |
| Portfolio turnover rate | 37<br> (n)<br>| &nbsp;&nbsp; 66 | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 80 |
| Net assets at end of period (000 omitted) | $118996 | &nbsp;&nbsp; $105881 | &nbsp;&nbsp; $115902 | &nbsp;&nbsp; $102893 | &nbsp;&nbsp; $115533 | &nbsp;&nbsp; $80950 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R1** | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $12.71 | &nbsp;&nbsp; $14.47 | &nbsp;&nbsp; $12.00 | &nbsp;&nbsp; $13.80 | &nbsp;&nbsp; $17.15 | &nbsp;&nbsp; $11.09 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.00)(w)<br>| &nbsp;&nbsp; $(0.05)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.08)<br>| &nbsp;&nbsp; $(0.07)<br>|
| Net realized and unrealized gain (loss) | 2.07 | &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.49 | &nbsp;&nbsp; (1.24)<br>| &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.13 |
| Total from investment operations | $2.07 | &nbsp;&nbsp; $(0.78)<br>| &nbsp;&nbsp; $2.47 | &nbsp;&nbsp; $(1.26)<br>| &nbsp;&nbsp; $(1.24)<br>| &nbsp;&nbsp; $6.06 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.05)<br>| $— | $— | $— | $— |
| From net realized gain |  | &nbsp;&nbsp; (0.93)<br>|  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (2.11)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.98)<br>| $— | &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(2.11)<br>| $— |
| Net asset value, end of period (x) | $14.78 | &nbsp;&nbsp; $12.71 | &nbsp;&nbsp; $14.47 | &nbsp;&nbsp; $12.00 | &nbsp;&nbsp; $13.80 | &nbsp;&nbsp; $17.15 |
| Total return (%) (r)(s)(t)(x) | 16.29<br> (n)<br>| &nbsp;&nbsp; (6.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp;20.58 | &nbsp;&nbsp; (9.35)<br>| &nbsp;&nbsp; (8.26)<br>| &nbsp;&nbsp;&nbsp;&nbsp;54.64 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.87<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.86 |
| Expenses after expense reductions | 1.74<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 |
| Net investment income (loss) | (0.01)(a)<br>| &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; (0.52)<br>|
| Portfolio turnover rate | 37<br> (n)<br>| &nbsp;&nbsp; 66 | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 80 |
| Net assets at end of period (000 omitted) | $968 | &nbsp;&nbsp; $2841 | &nbsp;&nbsp; $3647 | &nbsp;&nbsp; $3410 | &nbsp;&nbsp; $3853 | &nbsp;&nbsp; $4996 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Small Cap Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R2** | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $13.26 | &nbsp;&nbsp; $15.04 | &nbsp;&nbsp; $12.46 | &nbsp;&nbsp; $14.24 | &nbsp;&nbsp; $17.54 | &nbsp;&nbsp; $11.32 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.04 | &nbsp;&nbsp; $0.02 | &nbsp;&nbsp; $0.05 | &nbsp;&nbsp; $0.04 | &nbsp;&nbsp; $(0.00)(w)<br>| &nbsp;&nbsp; $(0.00)(w)<br>|
| Net realized and unrealized gain (loss) | 2.16 | &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.58 | &nbsp;&nbsp; (1.28)<br>| &nbsp;&nbsp; (1.19)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.26 |
| Total from investment operations | $2.20 | &nbsp;&nbsp; $(0.72)<br>| &nbsp;&nbsp; $2.63 | &nbsp;&nbsp; $(1.24)<br>| &nbsp;&nbsp; $(1.19)<br>| &nbsp;&nbsp; $6.26 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.05)<br>| $— | $— | &nbsp;&nbsp; $(0.04)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.93)<br>|  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (2.11)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.06)<br>| &nbsp;&nbsp; $(0.05)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(2.11)<br>| &nbsp;&nbsp; $(0.04)<br>|
| Net asset value, end of period (x) | $15.46 | &nbsp;&nbsp; $13.26 | &nbsp;&nbsp; $15.04 | &nbsp;&nbsp; $12.46 | &nbsp;&nbsp; $14.24 | &nbsp;&nbsp; $17.54 |
| Total return (%) (r)(s)(t)(x) | 16.59<br> (n)<br>| &nbsp;&nbsp; (5.84)<br>| &nbsp;&nbsp;&nbsp;&nbsp;21.11 | &nbsp;&nbsp; (8.91)<br>| &nbsp;&nbsp; (7.77)<br>| &nbsp;&nbsp;&nbsp;&nbsp;55.37 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.37<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.38 | &nbsp;&nbsp;&nbsp;&nbsp;1.38 | &nbsp;&nbsp;&nbsp;&nbsp;1.38 | &nbsp;&nbsp;&nbsp;&nbsp;1.38 | &nbsp;&nbsp;&nbsp;&nbsp;1.36 |
| Expenses after expense reductions | 1.24<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| Net investment income (loss) | 0.51<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.33 | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>|
| Portfolio turnover rate | 37<br> (n)<br>| &nbsp;&nbsp; 66 | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 80 |
| Net assets at end of period (000 omitted) | $2768 | &nbsp;&nbsp; $11932 | &nbsp;&nbsp; $14234 | &nbsp;&nbsp; $13529 | &nbsp;&nbsp; $14633 | &nbsp;&nbsp; $16870 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R3** | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $13.38 | &nbsp;&nbsp; $15.18 | &nbsp;&nbsp; $12.58 | &nbsp;&nbsp; $14.34 | &nbsp;&nbsp; $17.61 | &nbsp;&nbsp; $11.35 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.05 | &nbsp;&nbsp; $0.05 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.08 | &nbsp;&nbsp; $0.04 | &nbsp;&nbsp; $0.03 |
| Net realized and unrealized gain (loss) | 2.19 | &nbsp;&nbsp; (0.75)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.61 | &nbsp;&nbsp; (1.30)<br>| &nbsp;&nbsp; (1.20)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.29 |
| Total from investment operations | $2.24 | &nbsp;&nbsp; $(0.70)<br>| &nbsp;&nbsp; $2.70 | &nbsp;&nbsp; $(1.22)<br>| &nbsp;&nbsp; $(1.16)<br>| &nbsp;&nbsp; $6.32 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.17)<br>| &nbsp;&nbsp; $(0.10)<br>| $— | $— | &nbsp;&nbsp; $(0.06)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.93)<br>|  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (2.11)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.10)<br>| &nbsp;&nbsp; $(0.10)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(2.11)<br>| &nbsp;&nbsp; $(0.06)<br>|
| Net asset value, end of period (x) | $15.62 | &nbsp;&nbsp; $13.38 | &nbsp;&nbsp; $15.18 | &nbsp;&nbsp; $12.58 | &nbsp;&nbsp; $14.34 | &nbsp;&nbsp; $17.61 |
| Total return (%) (r)(s)(t)(x) | 16.74<br> (n)<br>| &nbsp;&nbsp; (5.66)<br>| &nbsp;&nbsp;&nbsp;&nbsp;21.45 | &nbsp;&nbsp; (8.70)<br>| &nbsp;&nbsp; (7.55)<br>| &nbsp;&nbsp;&nbsp;&nbsp;55.83 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.12<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 |
| Expenses after expense reductions | 0.99<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 |
| Net investment income (loss) | 0.64<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;0.23 |
| Portfolio turnover rate | 37<br> (n)<br>| &nbsp;&nbsp; 66 | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 80 |
| Net assets at end of period (000 omitted) | $1294 | &nbsp;&nbsp; $1177 | &nbsp;&nbsp; $1012 | &nbsp;&nbsp; $661 | &nbsp;&nbsp; $450 | &nbsp;&nbsp; $667 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Small Cap Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R4** | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $13.53 | &nbsp;&nbsp; $15.33 | &nbsp;&nbsp; $12.69 | &nbsp;&nbsp; $14.42 | &nbsp;&nbsp; $17.68 | &nbsp;&nbsp; $11.40 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.07 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.13 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.08 | &nbsp;&nbsp; $0.07 |
| Net realized and unrealized gain (loss) | 2.21 | &nbsp;&nbsp; (0.76)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.63 | &nbsp;&nbsp; (1.30)<br>| &nbsp;&nbsp; (1.21)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.30 |
| Total from investment operations | $2.28 | &nbsp;&nbsp; $(0.67)<br>| &nbsp;&nbsp; $2.76 | &nbsp;&nbsp; $(1.19)<br>| &nbsp;&nbsp; $(1.13)<br>| &nbsp;&nbsp; $6.37 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.20)<br>| &nbsp;&nbsp; $(0.12)<br>| $— | &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.09)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.93)<br>|  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (2.11)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.13)<br>| &nbsp;&nbsp; $(0.12)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(2.13)<br>| &nbsp;&nbsp; $(0.09)<br>|
| Net asset value, end of period (x) | $15.81 | &nbsp;&nbsp; $13.53 | &nbsp;&nbsp; $15.33 | &nbsp;&nbsp; $12.69 | &nbsp;&nbsp; $14.42 | &nbsp;&nbsp; $17.68 |
| Total return (%) (r)(s)(t)(x) | 16.85<br> (n)<br>| &nbsp;&nbsp; (5.41)<br>| &nbsp;&nbsp;&nbsp;&nbsp;21.76 | &nbsp;&nbsp; (8.44)<br>| &nbsp;&nbsp; (7.34)<br>| &nbsp;&nbsp;&nbsp;&nbsp;56.09 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.87<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.87 |
| Expenses after expense reductions | 0.74<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 |
| Net investment income (loss) | 0.89<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 |
| Portfolio turnover rate | 37<br> (n)<br>| &nbsp;&nbsp; 66 | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 80 |
| Net assets at end of period (000 omitted) | $20298 | &nbsp;&nbsp; $18513 | &nbsp;&nbsp; $21298 | &nbsp;&nbsp; $18322 | &nbsp;&nbsp; $20000 | &nbsp;&nbsp; $23281 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R6** | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $13.56 | &nbsp;&nbsp; $15.36 | &nbsp;&nbsp; $12.72 | &nbsp;&nbsp; $14.44 | &nbsp;&nbsp; $17.70 | &nbsp;&nbsp; $11.40 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.08 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.14 | &nbsp;&nbsp; $0.13 | &nbsp;&nbsp; $0.10 | &nbsp;&nbsp; $0.09 |
| Net realized and unrealized gain (loss) | 2.22 | &nbsp;&nbsp; (0.76)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.64 | &nbsp;&nbsp; (1.31)<br>| &nbsp;&nbsp; (1.21)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.32 |
| Total from investment operations | $2.30 | &nbsp;&nbsp; $(0.65)<br>| &nbsp;&nbsp; $2.78 | &nbsp;&nbsp; $(1.18)<br>| &nbsp;&nbsp; $(1.11)<br>| &nbsp;&nbsp; $6.41 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.22)<br>| &nbsp;&nbsp; $(0.14)<br>| $— | &nbsp;&nbsp; $(0.04)<br>| &nbsp;&nbsp; $(0.11)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.93)<br>|  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (2.11)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.15)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(2.15)<br>| &nbsp;&nbsp; $(0.11)<br>|
| Net asset value, end of period (x) | $15.86 | &nbsp;&nbsp; $13.56 | &nbsp;&nbsp; $15.36 | &nbsp;&nbsp; $12.72 | &nbsp;&nbsp; $14.44 | &nbsp;&nbsp; $17.70 |
| Total return (%) (r)(s)(t)(x) | 16.96<br> (n)<br>| &nbsp;&nbsp; (5.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp;21.83 | &nbsp;&nbsp; (8.36)<br>| &nbsp;&nbsp; (7.23)<br>| &nbsp;&nbsp;&nbsp;&nbsp;56.40 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.77<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 |
| Expenses after expense reductions | 0.64<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 |
| Net investment income (loss) | 1.00<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 |
| Portfolio turnover rate | 37<br> (n)<br>| &nbsp;&nbsp; 66 | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 80 |
| Net assets at end of period (000 omitted) | $126306 | &nbsp;&nbsp; $124494 | &nbsp;&nbsp; $137545 | &nbsp;&nbsp; $113539 | &nbsp;&nbsp; $135216 | &nbsp;&nbsp; $136883 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Small Cap Equity Fund

*Financial Highlights - continued*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(w) Per share amount was less than $0.01.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

MFS Blended Research Small Cap Equity Fund

**Notes to Financial Statements (unaudited)**

**(1) Business and Organization**

MFS Blended Research Small Cap Equity Fund (the fund) is a diversified series of MFS Series Trust X (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(2) Significant Accounting Policies**

**General** — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of the fund's Statement of Assets and Liabilities through the date that the financial statements were issued.

**Operating Segments** — An operating segment is defined in FASB Accounting Standards Codification Topic 280-Segment Reporting as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the entity's chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available. The fund represents a single operating segment and the Chairman's Committee of the fund's adviser acts as the segment's CODM. The fund's total returns, expense ratios, and changes in net assets which are used by the CODM to assess segment performance and to make resource allocation decisions to the segment are consistent with that presented within the fund's financial statements.

**Balance Sheet Offsetting** — The fund's accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the International Swaps and Derivatives Association (ISDA) Master Agreement, or similar agreement, does not result in an offset of reported amounts of financial assets and financial liabilities in the Statement of Assets and Liabilities across transactions between the fund and the applicable counterparty. The fund's right to setoff may be restricted or prohibited by the bankruptcy or insolvency laws of the particular jurisdiction to which a specific master netting agreement counterparty is subject. Balance sheet offsetting disclosures, to the extent applicable to the fund, have been included in the fund's Significant Accounting Policies note under the captions for each of the fund's in-scope financial instruments and transactions.

**Investment Valuations** — Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading

------

MFS Blended Research Small Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund's net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund's foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of November 30, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities | $312732093 | $— | $— | $312732093 |
| Investment Companies | 2120459 |  |  | 2120459 |
| Total | $314852552 | $— | $— | $314852552 |

---

For further information regarding security characteristics, see the Portfolio of Investments.

**Security Loans** — Under its Securities Lending Agency Agreement with the fund, Goldman Sachs Agency Lending, as lending agent, loans the securities of the fund to certain qualified institutions (the "Borrowers") approved by the fund. Security loans can be terminated at the discretion of either the lending agent or the fund and the related securities must be returned within the earlier of the standard trade settlement period for such securities or within five business days. The loans are collateralized by cash and/or U.S. government securities in an amount typically at least equal to the market value of the securities loaned. On loans collateralized by cash, the cash collateral is invested in a money market fund. The market value of the loaned securities is determined at the close of business of the fund and any additional required collateral is delivered to the fund on the next business day. The lending agent provides the fund with indemnification against Borrower default. In the event of Borrower default, the lending agent will, for the benefit of the fund, either purchase securities identical to those loaned or pay the fund the market value of the loaned securities. In return, the lending agent assumes the fund's rights to the related collateral. If the collateral value is less than the cost to purchase identical securities or the cash needed to pay their market value, the lending agent is responsible for the shortfall, but only to the extent that such shortfall is not due to a decline in collateral value resulting from collateral reinvestment for which the fund bears the risk of loss. At period end, the fund had investment securities on loan, all of which were classified as equity securities in the fund's Portfolio of Investments, with a fair value of $1,043,298. The fair value of the fund's investment securities on loan and a related liability of $1,067,550 for the obligation to return cash collateral received on securities loaned are both presented gross in the Statement of Assets and Liabilities. The collateral on securities loaned exceeded the value of securities on loan at period end. The liability for cash collateral for securities loaned is carried at fair value, which is categorized as level 2 within the fair value hierarchy. A portion of the income generated upon investment of the collateral is remitted to the Borrowers, and the remainder is allocated between the fund and the lending agent. On loans collateralized by U.S. government securities, a fee is received from the Borrower, and is allocated between the fund and the lending agent. Income from securities lending is separately reported in the Statement of Operations. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income.

**Indemnifications** — Under the fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into agreements with service providers that may contain indemnification clauses. The fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against the fund that have not yet occurred.

------

MFS Blended Research Small Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

**Investment Transactions and Income** — Dividends received in cash are recorded on the ex-dividend date. Certain dividends from foreign securities will be recorded when the fund is informed of the dividend if such information is obtained subsequent to the ex-dividend date. Dividend payments received in additional securities are recorded on the ex-dividend date in an amount equal to the value of the security on such date.

The fund may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statement of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statement of Operations.

Investment transactions are recorded on the trade date. In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis.

**Tax Matters and Distributions** — The fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. The fund's federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for generally a three year period. Management has analyzed the fund's tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability. Foreign taxes, if any, have been accrued by the fund in the accompanying financial statements in accordance with the applicable foreign tax law. Foreign income taxes may be withheld by certain countries in which the fund invests. Additionally, capital gains realized by the fund on securities issued in or by certain foreign countries may be subject to capital gains tax imposed by those countries.

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.

Book/tax differences primarily relate to wash sale loss deferrals and treating a portion of the proceeds from redemptions as a distribution for tax purposes.

The tax character of distributions declared to shareholders for the last fiscal year is as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**5/31/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $5094540 |
| Long-term capital gains | &nbsp;&nbsp; 18843068 |
| Total distributions | &nbsp;&nbsp; $23937608 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

---

| | |
|:---|:---|
| **As of 11/30/25** |  |
| Cost of investments | &nbsp;&nbsp; $270403815 |
| Gross appreciation | &nbsp;&nbsp; 67166519 |
| Gross depreciation | &nbsp;&nbsp; (22717782)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $44448737 |
| **As of 5/31/25** |  |
| Undistributed ordinary income | &nbsp;&nbsp; 348823 |
| Undistributed long-term capital gain | &nbsp;&nbsp; 7558389 |
| Post-October capital loss deferral | &nbsp;&nbsp; (2037657)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; 10459718 |

---

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

**Multiple Classes of Shares of Beneficial Interest** — The fund offers multiple classes of shares, which differ in their respective distribution and service fees. The fund's income and common expenses are allocated to shareholders based on the value of settled shares outstanding of each class. The fund's realized and unrealized gain (loss) are allocated to shareholders based on the daily net assets of each class. Dividends are declared separately for each class. Differences in per share dividend rates are generally due to

------

MFS Blended Research Small Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

differences in separate class expenses. Class B and Class C shares will convert to Class A shares approximately eight years after purchase. The fund's distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months** <br>**ended** <br>**11/30/25**<br>| **Year** <br>**ended** <br>**5/31/25**<br>|
| Class A | $— | &nbsp;&nbsp; $2893472 |
| Class B |  | &nbsp;&nbsp; 14277 |
| Class C |  | &nbsp;&nbsp; 295207 |
| Class I |  | &nbsp;&nbsp; 8393038 |
| Class R1 |  | &nbsp;&nbsp; 232349 |
| Class R2 |  | &nbsp;&nbsp; 959653 |
| Class R3 |  | &nbsp;&nbsp; 86834 |
| Class R4 |  | &nbsp;&nbsp; 1513773 |
| Class R6 |  | &nbsp;&nbsp; 9549005 |
| Total | $— | &nbsp;&nbsp; $23937608 |

---

**(3) Transactions with Affiliates**

**Investment Adviser** — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. The management fee is computed daily and paid monthly at the following annual rates based on the fund's average daily net assets:

---

| | |
|:---|:---|
| Up to $1 billion | 0.65% |
| In excess of $1 billion and up to $2.5 billion | 0.60% |
| In excess of $2.5 billion | 0.575% |

---

MFS has agreed in writing to reduce its management fee by a specified amount if certain MFS mutual fund assets exceed thresholds agreed to by MFS and the fund's Board of Trustees. MFS has also agreed in writing to waive at least 0.01% of its management fee as part of this agreement. The agreement to waive at least 0.01% of the management fee will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this management fee reduction amounted to $21,871, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.64% of the fund's average daily net assets.

The investment adviser has agreed in writing to pay a portion of the fund's total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses do not exceed the following rates annually of each class's average daily net assets:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Classes | Classes | Classes | Classes | Classes | Classes | Classes | Classes | Classes |
| A | B | C | I | R1 | R2 | R3 | R4 | R6 |
| 0.99% | 1.74% | 1.74% | 0.74% | 1.74% | 1.24% | 0.99% | 0.74% | 0.66% |

---

This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this reduction amounted to $186,603, which is included in the reduction of total expenses in the Statement of Operations.

**Distributor** — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received $4,635 for the six months ended November 30, 2025, as its portion of the initial sales charge on sales of Class A shares of the fund.

The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.

The fund's distribution plan provides that the fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries. The distribution and service fees are computed daily and paid monthly.

------

MFS Blended Research Small Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

**Distribution Plan Fee Table:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| Class A |  | 0.25% | 0.25% | 0.25% | $48599 |
| Class B | 0.75% | 0.25% | 1.00% | 1.00% | 857 |
| Class C | 0.75% | 0.25% | 1.00% | 1.00% | 19728 |
| Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 11519 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 22248 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 1609 |
| Total Distribution and Service Fees  |  |  |  |  | $104560 |

---

(d) In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each

class's average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting

period. Any rate changes, if applicable, are detailed below.

(e) The annual effective rates represent actual fees incurred under the distribution plan for the six months ended November 30, 2025 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended November 30, 2025, this rebate amounted to $22 for Class A shares and is included in the reduction of total expenses in the Statement of Operations.

Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class B shares are subject to a CDSC in the event of a shareholder redemption within six years of purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD and during the six months ended November 30, 2025, were as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| Class A | $46 |
| Class B |  |
| Class C | 17 |

---

**Shareholder Servicing Agent** — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from the fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of the fund as determined periodically under the supervision of the fund's Board of Trustees. For the six months ended November 30, 2025, the fee was $11,588, which equated to 0.0073% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the six months ended November 30, 2025, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $104,783.

**Administrator** — MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to the fund. Under an administrative services agreement, the fund reimburses MFS the costs incurred to provide these services. The fund is charged an annual fixed amount of $17,500 plus a fee based on average daily net assets. The administrative services fee is computed daily and paid monthly. The administrative services fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.0162% of the fund's average daily net assets.

**Trustees' and Officers' Compensation** — The fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. Independent Trustees' compensation is accrued daily and paid subsequent to each Trustee Board meeting. The fund does not pay compensation directly to Trustees or officers of the fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to the fund. Certain officers and Trustees of the fund are officers or directors of MFS, MFD, and MFSC.

**Other** — The fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.

MFS purchased or redeemed fund shares on the dates indicated:

------

MFS Blended Research Small Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| 8/19/2024 | Redemption | Class A | 3 | $41 |
| 8/19/2024 | Redemption | Class C | 3 | 38 |
| 8/19/2024 | Redemption | Class I | 3 | 41 |
| 8/19/2024 | Redemption | Class R1 | 2 | 35 |
| 8/19/2024 | Redemption | Class R2 | 2 | 37 |

---

At November 30, 2025, MFS held approximately 53% of the outstanding shares of Class B.

The adviser has voluntarily undertaken to reimburse the fund from its own resources on a quarterly basis for the cost of investment research embedded in the cost of the fund's securities trades. This agreement may be rescinded at any time. For the six months ended November 30, 2025, this reimbursement amounted to $30,294, which is included in "Other" income in the Statement of Operations.

**(4) Portfolio Securities**

For the six months ended November 30, 2025, purchases and sales of investments, other than short-term obligations, aggregated $114,926,968 and $153,003,175, respectively.

**(5) Shares of Beneficial Interest** 

The fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** <br>**11/30/25** | **Six months ended** <br>**11/30/25** | **Year ended** <br>**5/31/25** | **Year ended** <br>**5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 163366 | &nbsp;&nbsp; $2407617 | &nbsp;&nbsp; 504057 | &nbsp;&nbsp; $7426140 |
| Class B | 101 | &nbsp;&nbsp; 1500 | &nbsp;&nbsp; 77 | &nbsp;&nbsp; 1240 |
| Class C | 7759 | &nbsp;&nbsp; 106152 | &nbsp;&nbsp; 32358 | &nbsp;&nbsp; 448474 |
| Class I | 568261 | &nbsp;&nbsp; 8500589 | &nbsp;&nbsp; 1567810 | &nbsp;&nbsp; 22869992 |
| Class R1 | 5877 | &nbsp;&nbsp; 80449 | &nbsp;&nbsp; 20855 | &nbsp;&nbsp; 289682 |
| Class R2 | 32747 | &nbsp;&nbsp; 471152 | &nbsp;&nbsp; 169124 | &nbsp;&nbsp; 2496062 |
| Class R3 | 2550 | &nbsp;&nbsp; 37999 | &nbsp;&nbsp; 29935 | &nbsp;&nbsp; 442897 |
| Class R4 | 38167 | &nbsp;&nbsp; 568346 | &nbsp;&nbsp; 192322 | &nbsp;&nbsp; 2848429 |
| Class R6 | 353969 | &nbsp;&nbsp; 5250301 | &nbsp;&nbsp; 2254774 | &nbsp;&nbsp; 31389403 |
|  | 1172797 | &nbsp;&nbsp; $17424105 | &nbsp;&nbsp; 4771312 | &nbsp;&nbsp; $68212319 |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A |  | $— | &nbsp;&nbsp; 184207 | &nbsp;&nbsp; $2890206 |
| Class B |  |  | &nbsp;&nbsp; 950 | &nbsp;&nbsp; 14277 |
| Class C |  |  | &nbsp;&nbsp; 19633 | &nbsp;&nbsp; 293899 |
| Class I |  |  | &nbsp;&nbsp; 529784 | &nbsp;&nbsp; 8391784 |
| Class R1 |  |  | &nbsp;&nbsp; 15521 | &nbsp;&nbsp; 232349 |
| Class R2 |  |  | &nbsp;&nbsp; 61595 | &nbsp;&nbsp; 959653 |
| Class R3 |  |  | &nbsp;&nbsp; 5527 | &nbsp;&nbsp; 86834 |
| Class R4 |  |  | &nbsp;&nbsp; 95446 | &nbsp;&nbsp; 1513773 |
| Class R6 |  |  | &nbsp;&nbsp; 600328 | &nbsp;&nbsp; 9539212 |
|  |  | $— | &nbsp;&nbsp; 1512991 | &nbsp;&nbsp; $23921987 |

---

------

MFS Blended Research Small Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **11/30/25** | **Six months ended**<br> **11/30/25** | **Year ended**<br> **5/31/25** | **Year ended**<br> **5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares reacquired |  |  |  |  |
| Class A | (382192)<br>| &nbsp;&nbsp; $(5662772)<br>| &nbsp;&nbsp; (659710)<br>| &nbsp;&nbsp; $(9554638)<br>|
| Class B | (2569)<br>| &nbsp;&nbsp; (35920)<br>| &nbsp;&nbsp; (12182)<br>| &nbsp;&nbsp; (174031)<br>|
| Class C | (23936)<br>| &nbsp;&nbsp; (335214)<br>| &nbsp;&nbsp; (108693)<br>| &nbsp;&nbsp; (1541016)<br>|
| Class I | (871114)<br>| &nbsp;&nbsp; (13003596)<br>| &nbsp;&nbsp; (1829772)<br>| &nbsp;&nbsp; (27281465)<br>|
| Class R1 | (163891)<br>| &nbsp;&nbsp; (2386323)<br>| &nbsp;&nbsp; (64983)<br>| &nbsp;&nbsp; (923121)<br>|
| Class R2 | (753840)<br>| &nbsp;&nbsp; (11397941)<br>| &nbsp;&nbsp; (276772)<br>| &nbsp;&nbsp; (4042639)<br>|
| Class R3 | (7695)<br>| &nbsp;&nbsp; (117226)<br>| &nbsp;&nbsp; (14172)<br>| &nbsp;&nbsp; (211841)<br>|
| Class R4 | (123230)<br>| &nbsp;&nbsp; (1843372)<br>| &nbsp;&nbsp; (308517)<br>| &nbsp;&nbsp; (4635974)<br>|
| Class R6 | (1571086)<br>| &nbsp;&nbsp; (23228646)<br>| &nbsp;&nbsp; (2627827)<br>| &nbsp;&nbsp; (40296723)<br>|
|  | (3899553)<br>| &nbsp;&nbsp; $(58011010)<br>| &nbsp;&nbsp; (5902628)<br>| &nbsp;&nbsp; $(88661448)<br>|
| Net change |  |  |  |  |
| Class A | (218826)<br>| &nbsp;&nbsp; $(3255155)<br>| &nbsp;&nbsp; 28554 | &nbsp;&nbsp; $761708 |
| Class B | (2468)<br>| &nbsp;&nbsp; (34420)<br>| &nbsp;&nbsp; (11155)<br>| &nbsp;&nbsp; (158514)<br>|
| Class C | (16177)<br>| &nbsp;&nbsp; (229062)<br>| &nbsp;&nbsp; (56702)<br>| &nbsp;&nbsp; (798643)<br>|
| Class I | (302853)<br>| &nbsp;&nbsp; (4503007)<br>| &nbsp;&nbsp; 267822 | &nbsp;&nbsp; 3980311 |
| Class R1 | (158014)<br>| &nbsp;&nbsp; (2305874)<br>| &nbsp;&nbsp; (28607)<br>| &nbsp;&nbsp; (401090)<br>|
| Class R2 | (721093)<br>| &nbsp;&nbsp; (10926789)<br>| &nbsp;&nbsp; (46053)<br>| &nbsp;&nbsp; (586924)<br>|
| Class R3 | (5145)<br>| &nbsp;&nbsp; (79227)<br>| &nbsp;&nbsp; 21290 | &nbsp;&nbsp; 317890 |
| Class R4 | (85063)<br>| &nbsp;&nbsp; (1275026)<br>| &nbsp;&nbsp; (20749)<br>| &nbsp;&nbsp; (273772)<br>|
| Class R6 | (1217117)<br>| &nbsp;&nbsp; (17978345)<br>| &nbsp;&nbsp; 227275 | &nbsp;&nbsp; 631892 |
|  | (2726756)<br>| &nbsp;&nbsp; $(40586905)<br>| &nbsp;&nbsp; 381675 | &nbsp;&nbsp; $3472858 |

---

The fund is one of several mutual funds in which certain MFS funds may invest. The MFS funds do not invest in the underlying funds for the purpose of exercising management or control. At the end of the period, the MFS Lifetime 2040 Fund, the MFS Lifetime 2050 Fund, the MFS Lifetime 2045 Fund, the MFS Lifetime 2030 Fund, the MFS Lifetime 2035 Fund, the MFS Lifetime 2055 Fund, the MFS Lifetime Income Fund, the MFS Lifetime 2060 Fund, and the MFS Lifetime 2025 Fund were the owners of record of approximately 5%, 5%, 4%, 4%, 3%, 2%, 2%, 2%, and 1%, respectively, of the value of outstanding voting shares of the fund. In addition, the MFS Lifetime 2065 Fund was the owner of record of less than 1% of the value of outstanding voting shares of the fund.

Effective June 1, 2019, purchases of the fund's Class B shares were closed to new and existing investors subject to certain exceptions. Effective September 29, 2023, purchases of the fund's Class R1 and Class R2 shares were closed to new eligible investors.

**(6) Line of Credit**

The fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by the fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate) plus 0.10%, 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 12, 2026 unless extended or renewed. In addition, the fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the six months ended November 30, 2025, the fund's commitment fee and interest expense were $733 and $0, respectively, and are included in "Miscellaneous" expense in the Statement of Operations.

**(7) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the six months ended November 30, 2025:

------

MFS Blended Research Small Cap Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Beginning** <br>**Value**<br>| **Purchases** | &nbsp;&nbsp; **Sales** <br>**Proceeds**<br>| &nbsp;&nbsp; **Realized** <br>**Gain** <br>**(Loss)**<br>| &nbsp;&nbsp; **Change in** <br>**Unrealized** <br>**Appreciation** <br> **or** <br>**Depreciation**<br>| &nbsp;&nbsp; **Ending** <br>**Value**<br>|
| MFS Institutional Money Market <br> Portfolio<br>| &nbsp;&nbsp; $1698528 | &nbsp;&nbsp; $26061438 | &nbsp;&nbsp; $26707763 | &nbsp;&nbsp; $537 | &nbsp;&nbsp; $169 | &nbsp;&nbsp; $1052909 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; $38782 | $— |

---

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Blended Research Small Cap Equity Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Blended Research Small Cap Equity Fund.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

This information is disclosed as part of the financial statements included in Item 7 above for MFS Blended Research Small Cap Equity Fund. See the Statement of Operations and Note 3 within the Notes to Financial Statements for more information.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

------

MFS Blended Research Small Cap Equity Fund

**Board Review of Investment Advisory Agreement**

**MFS Blended Research Small Cap Equity Fund**

The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested ("independent") Trustees, voting separately, annually approve the continuation of the Fund's investment advisory agreement with MFS. The Trustees consider matters bearing on the Fund and its advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2025 ("contract review meetings") for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Fund and the other investment companies that the Board oversees (the "MFS Funds"). The independent Trustees were assisted in their evaluation of the Fund's investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.

In connection with their deliberations regarding the continuation of the investment advisory agreement, the Trustees, including the independent Trustees, considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The investment advisory agreement for the Fund was considered separately, although the Trustees also took into account the common interests of all MFS Funds in their review. As described below, the Trustees considered the nature, quality, and extent of the various investment advisory, administrative, and shareholder services performed by MFS under the existing investment advisory agreement and other arrangements with the Fund.

In connection with their contract review meetings, the Trustees received and relied upon materials that included, among other items: (i) information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent third party, on the investment performance of the Fund for various time periods ended December 31, 2024 and the investment performance of a group of funds with substantially similar investment classifications/objectives (the "Broadridge performance universe"), (ii) information provided by Broadridge on the Fund's advisory fees and other expenses and the advisory fees and other expenses of comparable funds identified by Broadridge as well as all other funds in the same investment classification/category (the "Broadridge expense group and universe"), (iii) information provided by MFS on the advisory fees of portfolios of other clients of MFS, including institutional separate accounts and other clients, (iv) information as to whether and to what extent applicable expense waivers, reimbursements or fee "breakpoints" are observed for the Fund, (v) information regarding MFS' financial results and financial condition, including MFS' and certain of its affiliates' estimated profitability from services performed for the Fund and the MFS Funds as a whole, and compared to MFS' institutional business, (vi) MFS' views regarding the outlook for the mutual fund industry and the strategic business plans of MFS, (vii) descriptions of various functions performed by MFS for the Funds, such as compliance monitoring and portfolio trading practices, and (viii) information regarding the overall organization of MFS, including information about MFS' senior management and other personnel providing investment advisory, administrative and other services to the Fund and the other MFS Funds. The comparative performance, fee and expense information prepared and provided by Broadridge was not independently verified and the independent Trustees did not independently verify any information provided to them by MFS.

The Trustees' conclusion as to the continuation of the investment advisory agreement was based on a comprehensive consideration of all information provided to the Trustees and not the result of any single factor. Some of the factors that figured particularly in the Trustees' deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. It is also important to recognize that the fee arrangements for the Fund and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees' conclusions may be based, in part, on their consideration of these same arrangements during the course of the year and in prior years.

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 5th quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 5th quintile for each of the one- and three-year periods ended December 31, 2024 relative to the Broadridge performance universe. Because of the passage of time, these performance results may differ from the performance results for more recent periods, including those shown elsewhere in this report.

The Trustees expressed continued concern to MFS about the substandard investment performance of the Fund. In the course of their deliberations, the Trustees took into account information provided by MFS in connection with the contract review meetings, as well as during investment review meetings conducted with portfolio management personnel during the course of the year, as to MFS' efforts to improve the Fund's performance. In addition, the Trustees requested that they receive a separate update on the Fund's

------

MFS Blended Research Small Cap Equity Fund

*Board Review of Investment Advisory Agreement - continued*

performance at each of their regular meetings. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that MFS' responses and efforts and plans to improve investment performance were sufficient to support approval of the continuance of the investment advisory agreement for an additional one-year period, but that they would continue to closely monitor the performance of the Fund.

In assessing the reasonableness of the Fund's advisory fee, the Trustees considered, among other information, the Fund's advisory fee and the total expense ratio of the Fund's Class I shares as a percentage of average daily net assets and the advisory fee and total expense ratios of the Broadridge expense group based on information provided by Broadridge. The Trustees considered that MFS currently observes an expense limitation for the Fund, which may not be changed without the Trustees' approval. The Trustees also considered that, according to the data provided by Broadridge (which takes into account any fee reductions or expense limitations that were in effect during the Fund's last fiscal year), the Fund's effective advisory fee rate and total expense ratio were each lower than the Broadridge expense group median.

The Trustees also considered the advisory fees charged by MFS to any institutional separate accounts advised by MFS ("separate accounts") and unaffiliated investment companies for which MFS serves as subadviser ("subadvised funds") that have comparable investment strategies to the Fund, if any. In comparing these fees, the Trustees considered information provided by MFS as to the generally broader scope of services provided by MFS to the Fund, as well as the more extensive regulatory burdens imposed on MFS in managing the Fund, in comparison to separate accounts and subadvised funds. The Trustees also considered the higher demands placed on MFS' investment personnel and trading infrastructure as a result of the daily cash in-flows and out-flows of the Fund in comparison to separate accounts.

The Trustees also considered whether the Fund may benefit from any economies of scale in the management of the Fund in the event of growth in assets of the Fund and/or growth in assets of the MFS Funds as a whole. They noted that the Fund's advisory fee rate schedule is subject to contractual breakpoints that reduce the Fund's advisory fee rate on average daily net assets over $1 billion and $2.5 billion. The Trustees also noted that MFS has agreed in writing to waive a portion of the management fees of certain MFS Funds, including the Fund, if the total combined assets of certain funds within the MFS Funds' complex increase above agreed upon thresholds (the "group fee waiver"), enabling the Fund's shareholders to share in the benefits from any economies of scale at the complex level. The group fee waiver is reviewed and renewed annually between the Board and MFS. The Trustees concluded that the breakpoints and the group fee waiver were sufficient to allow the Fund to benefit from economies of scale as its assets and overall complex assets grow.

The Trustees also considered information prepared by MFS relating to MFS' costs and profits with respect to the Fund, the MFS Funds considered as a group, and other investment companies and accounts advised by MFS, as well as MFS' methodologies used to determine and allocate its costs to the MFS Funds, the Fund and other accounts and products for purposes of estimating profitability.

After reviewing these and other factors described herein, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that the advisory fees charged to the Fund represent reasonable compensation in light of the services being provided by MFS to the Fund.

In addition, the Trustees considered MFS' resources and related efforts to continue to retain, attract and motivate capable personnel to serve the Fund. The Trustees also considered current and developing conditions in the financial services industry, including the presence of large and well-capitalized companies which are spending, and appear to be prepared to continue to spend, substantial sums to engage personnel and to provide services to competing investment companies. In this regard, the Trustees also considered the financial resources of MFS and its ultimate parent, Sun Life Financial Inc. The Trustees also considered the advantages and possible disadvantages to the Fund of having an adviser that also serves other investment companies as well as other accounts.

The Trustees also considered the nature, quality, cost, and extent of administrative, transfer agency, and distribution services provided to the Fund by MFS and its affiliates under agreements and plans other than the investment advisory agreement, including any 12b-1 fees the Fund pays to MFS Fund Distributors, Inc., an affiliate of MFS. The Trustees also considered the nature, extent and quality of certain other services MFS performs or arranges for on the Fund's behalf, which may include securities lending programs, directed expense payment programs, class action recovery programs, and MFS' interaction with third-party service providers, principally custodians and sub-custodians. The Trustees concluded that the various non-advisory services provided by MFS and its affiliates on behalf of the Fund were satisfactory.

The Trustees considered so-called "fall-out benefits" to MFS such as reputational value derived from serving as investment manager to the MFS Funds. The Trustees also considered that MFS discontinued its historic practice of obtaining investment research from portfolio brokerage commissions paid by certain MFS Funds effective January 2018, and directly pays or voluntarily reimburses a Fund, if applicable, for the costs of external research acquired through the use of the Fund's portfolio brokerage commissions.

------

MFS Blended Research Small Cap Equity Fund

*Board Review of Investment Advisory Agreement - continued*

Based on their evaluation of factors that they deemed to be material, including those factors described above, the Board of Trustees, including the independent Trustees, concluded that the Fund's investment advisory agreement with MFS should be continued for an additional one-year period, commencing August 1, 2025.

------

MFS Blended Research Value Equity Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS Blended Research Value Equity Fund

**Portfolio of Investments - 11/30/25 (unaudited)**

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – 99.6% | Common Stocks – 99.6% | Common Stocks – 99.6% |
| Aerospace & Defense – 3.2% | Aerospace & Defense – 3.2% |  |
| BWX Technologies, Inc. | 17420 | &nbsp;&nbsp; $3116089 |
| Curtiss-Wright Corp. | 1320 | &nbsp;&nbsp; 744863 |
| General Dynamics Corp. | 13772 | &nbsp;&nbsp; 4704928 |
| Leidos Holdings, Inc. | 7127 | &nbsp;&nbsp; 1361970 |
|  |  | &nbsp;&nbsp; $9927850 |
| Automotive – 0.4% | Automotive – 0.4% |  |
| Aptiv PLC (a) | 17698 | &nbsp;&nbsp; $1372480 |
| Biotechnology – 0.8% | Biotechnology – 0.8% |  |
| Gilead Sciences, Inc. | 18899 | &nbsp;&nbsp; $2378250 |
| Broadcasting – 1.4% | Broadcasting – 1.4% |  |
| TKO Group Holdings, Inc. | 9000 | &nbsp;&nbsp; $1745010 |
| Walt Disney Co. | 25260 | &nbsp;&nbsp; 2638912 |
|  |  | &nbsp;&nbsp; $4383922 |
| Brokerage & Asset Managers – 5.1% | Brokerage & Asset Managers – 5.1% |  |
| Charles Schwab Corp. | 19677 | &nbsp;&nbsp; $1824648 |
| Citigroup, Inc. | 61452 | &nbsp;&nbsp; 6366427 |
| CME Group, Inc. | 3543 | &nbsp;&nbsp; 997213 |
| Interactive Brokers Group, Inc. | 26737 | &nbsp;&nbsp; 1738440 |
| Raymond James Financial, Inc. | 22337 | &nbsp;&nbsp; 3496634 |
| Robinhood Markets, Inc. (a) | 4516 | &nbsp;&nbsp; 580261 |
| XP, Inc. | 58026 | &nbsp;&nbsp; 1143692 |
|  |  | &nbsp;&nbsp; $16147315 |
| Business Services – 1.1% | Business Services – 1.1% |  |
| Accenture PLC, "A" | 4864 | &nbsp;&nbsp; $1216000 |
| Cognizant Technology Solutions Corp., "A" | 18174 | &nbsp;&nbsp; 1412301 |
| Dropbox, Inc. (a) | 22611 | &nbsp;&nbsp; 675617 |
|  |  | &nbsp;&nbsp; $3303918 |
| Chemicals – 0.2% | Chemicals – 0.2% |  |
| Eastman Chemical Co. | 10176 | &nbsp;&nbsp; $631726 |
| Computer Software – 2.7% | Computer Software – 2.7% |  |
| Okta, Inc. (a) | 29724 | &nbsp;&nbsp; $2387729 |
| Salesforce, Inc. | 21861 | &nbsp;&nbsp; 5039835 |
| Zoom Communications, Inc. (a) | 14177 | &nbsp;&nbsp; 1204478 |
|  |  | &nbsp;&nbsp; $8632042 |
| Construction – 1.7% | Construction – 1.7% |  |
| CRH PLC | 9513 | &nbsp;&nbsp; $1141179 |
| Ferguson Enterprises, Inc. | 8913 | &nbsp;&nbsp; 2243135 |
| James Hardie Industries PLC (a) | 53550 | &nbsp;&nbsp; 1059219 |

---

BRUFS-SEM

------

MFS Blended Research Value Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Construction – continued | Construction – continued |  |
| Mohawk Industries, Inc. (a) | 8089 | &nbsp;&nbsp; $937515 |
|  |  | &nbsp;&nbsp; $5381048 |
| Consumer Products – 2.0% | Consumer Products – 2.0% |  |
| Colgate-Palmolive Co. | 43920 | &nbsp;&nbsp; $3530729 |
| Kimberly-Clark Corp. | 25458 | &nbsp;&nbsp; 2777977 |
|  |  | &nbsp;&nbsp; $6308706 |
| Consumer Services – 1.0% | Consumer Services – 1.0% |  |
| Booking Holdings, Inc. | 413 | &nbsp;&nbsp; $2029767 |
| Uber Technologies, Inc. (a) | 13251 | &nbsp;&nbsp; 1159993 |
|  |  | &nbsp;&nbsp; $3189760 |
| Electrical Equipment – 3.0% | Electrical Equipment – 3.0% |  |
| AMETEK, Inc. | 3094 | &nbsp;&nbsp; $612272 |
| Amphenol Corp., "A" | 30412 | &nbsp;&nbsp; 4285051 |
| Eaton Corp. PLC | 12651 | &nbsp;&nbsp; 4375854 |
|  |  | &nbsp;&nbsp; $9273177 |
| Electronics – 4.4% | Electronics – 4.4% |  |
| Analog Devices, Inc. | 6670 | &nbsp;&nbsp; $1769818 |
| Flex Ltd. (a) | 40140 | &nbsp;&nbsp; 2372675 |
| KLA Corp. | 1727 | &nbsp;&nbsp; 2030037 |
| Lam Research Corp. | 31955 | &nbsp;&nbsp; 4984980 |
| Micron Technology, Inc. | 11931 | &nbsp;&nbsp; 2821443 |
|  |  | &nbsp;&nbsp; $13978953 |
| Energy - Independent – 4.3% | Energy - Independent – 4.3% |  |
| ConocoPhillips | 30691 | &nbsp;&nbsp; $2721985 |
| EOG Resources, Inc. | 34984 | &nbsp;&nbsp; 3773024 |
| Phillips 66 | 33485 | &nbsp;&nbsp; 4586106 |
| Valero Energy Corp. | 13049 | &nbsp;&nbsp; 2306541 |
|  |  | &nbsp;&nbsp; $13387656 |
| Energy - Integrated – 1.7% | Energy - Integrated – 1.7% |  |
| Exxon Mobil Corp. | 29439 | &nbsp;&nbsp; $3412569 |
| National Gas Fuel Co. | 23649 | &nbsp;&nbsp; 1949860 |
|  |  | &nbsp;&nbsp; $5362429 |
| Energy - Renewables – 0.2% | Energy - Renewables – 0.2% |  |
| AES Corp. | 53182 | &nbsp;&nbsp; $747739 |
| Engineering - Construction – 0.2% | Engineering - Construction – 0.2% |  |
| Jacobs Solutions, Inc. | 4587 | &nbsp;&nbsp; $618374 |
| Food & Beverages – 1.9% | Food & Beverages – 1.9% |  |
| General Mills, Inc. | 25373 | &nbsp;&nbsp; $1201412 |
| Ingredion, Inc. | 7184 | &nbsp;&nbsp; 772567 |
| Mondelez International, Inc. | 45030 | &nbsp;&nbsp; 2592377 |
| PepsiCo, Inc. | 9681 | &nbsp;&nbsp; 1439952 |
|  |  | &nbsp;&nbsp; $6006308 |

---

------

MFS Blended Research Value Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Food & Drug Stores – 0.2% | Food & Drug Stores – 0.2% |  |
| Albertsons Cos., Inc., "A" | 37548 | &nbsp;&nbsp; $688255 |
| General Merchandise – 0.7% | General Merchandise – 0.7% |  |
| Dollar General Corp. | 19105 | &nbsp;&nbsp; $2091806 |
| Health Maintenance Organizations – 2.0% | Health Maintenance Organizations – 2.0% |  |
| Cigna Group | 14337 | &nbsp;&nbsp; $3975363 |
| Humana, Inc. | 9284 | &nbsp;&nbsp; 2281729 |
|  |  | &nbsp;&nbsp; $6257092 |
| Insurance – 6.8% | Insurance – 6.8% |  |
| American International Group, Inc. | 13572 | &nbsp;&nbsp; $1033644 |
| Ameriprise Financial, Inc. | 6869 | &nbsp;&nbsp; 3130478 |
| Berkshire Hathaway, Inc., "B" (a) | 10610 | &nbsp;&nbsp; 5451524 |
| Chubb Ltd. | 16617 | &nbsp;&nbsp; 4921623 |
| Corebridge Financial, Inc. | 21223 | &nbsp;&nbsp; 637114 |
| Equitable Holdings, Inc. | 55474 | &nbsp;&nbsp; 2590081 |
| Everest Group Ltd. | 2908 | &nbsp;&nbsp; 913955 |
| Hartford Insurance Group, Inc. | 14230 | &nbsp;&nbsp; 1949937 |
| Voya Financial, Inc. | 12622 | &nbsp;&nbsp; 887327 |
|  |  | &nbsp;&nbsp; $21515683 |
| Interactive Media Services – 4.4% | Interactive Media Services – 4.4% |  |
| Alphabet, Inc., "A" | 25592 | &nbsp;&nbsp; $8194047 |
| Meta Platforms, Inc., "A" | 8779 | &nbsp;&nbsp; 5688353 |
|  |  | &nbsp;&nbsp; $13882400 |
| Internet – 0.2% | Internet – 0.2% |  |
| Pinterest, Inc. (a) | 26452 | &nbsp;&nbsp; $690926 |
| Leisure & Toys – 1.3% | Leisure & Toys – 1.3% |  |
| Brunswick Corp. | 17320 | &nbsp;&nbsp; $1145025 |
| Electronic Arts, Inc. | 11474 | &nbsp;&nbsp; 2318092 |
| Take-Two Interactive Software, Inc. (a) | 2670 | &nbsp;&nbsp; 657007 |
|  |  | &nbsp;&nbsp; $4120124 |
| Machinery & Tools – 5.0% | Machinery & Tools – 5.0% |  |
| AGCO Corp. | 30542 | &nbsp;&nbsp; $3236230 |
| Caterpillar, Inc. | 9747 | &nbsp;&nbsp; 5611933 |
| Deere & Co. | 5496 | &nbsp;&nbsp; 2552837 |
| Wabtec Corp. | 20612 | &nbsp;&nbsp; 4298633 |
|  |  | &nbsp;&nbsp; $15699633 |
| Major Banks – 4.5% | Major Banks – 4.5% |  |
| Bank of America Corp. | 27647 | &nbsp;&nbsp; $1483261 |
| JPMorgan Chase & Co. | 17388 | &nbsp;&nbsp; 5443835 |
| Wells Fargo & Co. | 84049 | &nbsp;&nbsp; 7215607 |
|  |  | &nbsp;&nbsp; $14142703 |

---

------

MFS Blended Research Value Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Medical & Health Technology & Services – 1.5% | Medical & Health Technology & Services – 1.5% |  |
| IQVIA Holdings, Inc. (a) | 4625 | &nbsp;&nbsp; $1063796 |
| McKesson Corp. | 3411 | &nbsp;&nbsp; 3005500 |
| Ventas, Inc., REIT | 9068 | &nbsp;&nbsp; 731153 |
|  |  | &nbsp;&nbsp; $4800449 |
| Medical Equipment – 3.6% | Medical Equipment – 3.6% |  |
| Avantor, Inc. (a) | 45252 | &nbsp;&nbsp; $530806 |
| Boston Scientific Corp. (a) | 21390 | &nbsp;&nbsp; 2172796 |
| Envista Holdings Corp. (a) | 29996 | &nbsp;&nbsp; 626917 |
| Medtronic PLC | 48045 | &nbsp;&nbsp; 5060580 |
| Thermo Fisher Scientific, Inc. | 4834 | &nbsp;&nbsp; 2856072 |
|  |  | &nbsp;&nbsp; $11247171 |
| Natural Gas - Distribution – 0.3% | Natural Gas - Distribution – 0.3% |  |
| Atmos Energy Corp. | 5112 | &nbsp;&nbsp; $901603 |
| Network & Telecom – 0.5% | Network & Telecom – 0.5% |  |
| Qualcomm, Inc. | 9405 | &nbsp;&nbsp; $1580886 |
| Oil Services – 1.1% | Oil Services – 1.1% |  |
| TechnipFMC PLC | 75591 | &nbsp;&nbsp; $3421249 |
| Other Banks & Diversified Financials – 5.9% | Other Banks & Diversified Financials – 5.9% |  |
| American Express Co. | 9595 | &nbsp;&nbsp; $3504766 |
| Mastercard, Inc., "A" | 4338 | &nbsp;&nbsp; 2388199 |
| Northern Trust Corp. | 35670 | &nbsp;&nbsp; 4684898 |
| Popular, Inc. | 36510 | &nbsp;&nbsp; 4188062 |
| Synchrony Financial | 32347 | &nbsp;&nbsp; 2502364 |
| Visa, Inc., "A" | 4248 | &nbsp;&nbsp; 1420701 |
|  |  | &nbsp;&nbsp; $18688990 |
| Pharmaceuticals – 4.9% | Pharmaceuticals – 4.9% |  |
| Bristol-Myers Squibb Co. | 24765 | &nbsp;&nbsp; $1218438 |
| Johnson & Johnson | 45295 | &nbsp;&nbsp; 9372442 |
| Pfizer, Inc. | 192353 | &nbsp;&nbsp; 4951166 |
|  |  | &nbsp;&nbsp; $15542046 |
| Precious Metals & Minerals – 0.5% | Precious Metals & Minerals – 0.5% |  |
| Newmont Corp. | 17767 | &nbsp;&nbsp; $1612000 |
| Railroad & Shipping – 1.5% | Railroad & Shipping – 1.5% |  |
| CSX Corp. | 44985 | &nbsp;&nbsp; $1590670 |
| Union Pacific Corp. | 13850 | &nbsp;&nbsp; 3210845 |
|  |  | &nbsp;&nbsp; $4801515 |
| Real Estate – 2.0% | Real Estate – 2.0% |  |
| CBRE Group, Inc., "A" (a) | 4387 | &nbsp;&nbsp; $709948 |
| Essential Properties Realty Trust, REIT | 24563 | &nbsp;&nbsp; 777664 |
| Jones Lang LaSalle, Inc. (a) | 1945 | &nbsp;&nbsp; 633467 |
| Simon Property Group, Inc., REIT | 5262 | &nbsp;&nbsp; 980416 |
| W.P. Carey, Inc., REIT | 44826 | &nbsp;&nbsp; 3019928 |
|  |  | &nbsp;&nbsp; $6121423 |

---

------

MFS Blended Research Value Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Real Estate - Office – 1.7% | Real Estate - Office – 1.7% |  |
| Cousins Properties, Inc., REIT | 109802 | &nbsp;&nbsp; $2830695 |
| Highwoods Properties, Inc., REIT | 84991 | &nbsp;&nbsp; 2362750 |
|  |  | &nbsp;&nbsp; $5193445 |
| Restaurants – 1.2% | Restaurants – 1.2% |  |
| Aramark | 100247 | &nbsp;&nbsp; $3726181 |
| Specialty Chemicals – 2.1% | Specialty Chemicals – 2.1% |  |
| Corteva, Inc. | 36457 | &nbsp;&nbsp; $2459754 |
| Linde PLC | 3833 | &nbsp;&nbsp; 1572757 |
| RPM International, Inc. | 23870 | &nbsp;&nbsp; 2560057 |
|  |  | &nbsp;&nbsp; $6592568 |
| Specialty Stores – 5.7% | Specialty Stores – 5.7% |  |
| Amazon.com, Inc. (a) | 32302 | &nbsp;&nbsp; $7533473 |
| Home Depot, Inc. | 4187 | &nbsp;&nbsp; 1494424 |
| O'Reilly Automotive, Inc. (a) | 38400 | &nbsp;&nbsp; 3905280 |
| Tapestry, Inc. | 16144 | &nbsp;&nbsp; 1764216 |
| Target Corp. | 13261 | &nbsp;&nbsp; 1201712 |
| TJX Cos., Inc. | 12886 | &nbsp;&nbsp; 1957641 |
|  |  | &nbsp;&nbsp; $17856746 |
| Telecom Services – 0.8% | Telecom Services – 0.8% |  |
| T-Mobile USA, Inc. | 11722 | &nbsp;&nbsp; $2450015 |
| Tobacco – 1.8% | Tobacco – 1.8% |  |
| Altria Group, Inc. | 35749 | &nbsp;&nbsp; $2109549 |
| Philip Morris International, Inc. | 22186 | &nbsp;&nbsp; 3493851 |
|  |  | &nbsp;&nbsp; $5603400 |
| Utilities - Electric Power – 4.1% | Utilities - Electric Power – 4.1% |  |
| Duke Energy Corp. | 18989 | &nbsp;&nbsp; $2353497 |
| Edison International | 32519 | &nbsp;&nbsp; 1915044 |
| NextEra Energy, Inc. | 54974 | &nbsp;&nbsp; 4743706 |
| PG&E Corp. | 199263 | &nbsp;&nbsp; 3212120 |
| Southern Co. | 8784 | &nbsp;&nbsp; 800398 |
|  |  | &nbsp;&nbsp; $13024765 |
| **Total Common Stocks (Identified Cost, $239,312,494)** |  | &nbsp;&nbsp; **$313284727** |
| Mutual Funds (h) – 0.4% | Mutual Funds (h) – 0.4% | Mutual Funds (h) – 0.4% |
| Money Market Funds – 0.4% | Money Market Funds – 0.4% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) (Identified Cost, $1,399,316) | 1399268 | &nbsp;&nbsp; $1399548 |
| Other Assets, Less Liabilities – 0.0% |  | &nbsp;&nbsp; 28322 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$314712597** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $1,399,548 and $313,284,727, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

------

MFS Blended Research Value Equity Fund

*Portfolio of Investments (unaudited) – continued*

The following abbreviations are used in this report and are defined: <br> REIT Real Estate Investment Trust

**See Notes to Financial Statements**

------

MFS Blended Research Value Equity Fund

**Financial Statements** \| **Statement of Assets and Liabilities**

This statement represents your fund's balance sheet, which details the assets and liabilities comprising the total value of the fund.

---

| | |
|:---|:---|
| **At 11/30/25 (unaudited)**<br> **Assets**<br>|  |
| Investments in unaffiliated issuers, at value (identified cost, $239,312,494) | &nbsp;&nbsp; $313284727 |
| Investments in affiliated issuers, at value (identified cost, $1,399,316) | &nbsp;&nbsp; 1399548 |
| Receivables for |  |
| Fund shares sold | &nbsp;&nbsp; 13867 |
| Dividends | &nbsp;&nbsp; 492505 |
| Other assets | &nbsp;&nbsp; 32914 |
| Total assets | &nbsp;&nbsp; $315223561 |
| **Liabilities** |  |
| Payables for |  |
| Fund shares reacquired | &nbsp;&nbsp; $431393 |
| Payable to affiliates |  |
| Investment adviser | &nbsp;&nbsp; 3242 |
| Administrative services fee | &nbsp;&nbsp; 694 |
| Shareholder servicing costs | &nbsp;&nbsp; 21961 |
| Distribution and service fees | &nbsp;&nbsp; 1446 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 52228 |
| Total liabilities | &nbsp;&nbsp; $510964 |
| Net assets | &nbsp;&nbsp; $314712597 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $204491111 |
| Total distributable earnings (loss) | &nbsp;&nbsp; 110221486 |
| Net assets | &nbsp;&nbsp; $314712597 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 18072145 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | &nbsp;&nbsp; **Shares** <br>**outstanding**<br>| &nbsp;&nbsp; **Net asset value** <br>**per share (a)**<br>|
| Class A | &nbsp;&nbsp;&nbsp; $34988133 | &nbsp;&nbsp;&nbsp; 2000012 | &nbsp;&nbsp;&nbsp; $17.49 |
| Class B | &nbsp;&nbsp;&nbsp; 235581 | &nbsp;&nbsp;&nbsp; 13694 | &nbsp;&nbsp;&nbsp;&nbsp;17.20 |
| Class C | &nbsp;&nbsp;&nbsp; 1465815 | &nbsp;&nbsp;&nbsp; 86209 | &nbsp;&nbsp;&nbsp;&nbsp;17.00 |
| Class I | &nbsp;&nbsp;&nbsp; 64734288 | &nbsp;&nbsp;&nbsp; 3728847 | &nbsp;&nbsp;&nbsp;&nbsp;17.36 |
| Class R1 | &nbsp;&nbsp;&nbsp; 131383 | &nbsp;&nbsp;&nbsp; 7640 | &nbsp;&nbsp;&nbsp;&nbsp;17.20 |
| Class R2 | &nbsp;&nbsp;&nbsp; 160156 | &nbsp;&nbsp;&nbsp; 9290 | &nbsp;&nbsp;&nbsp;&nbsp;17.24 |
| Class R3 | &nbsp;&nbsp;&nbsp; 286862 | &nbsp;&nbsp;&nbsp; 16590 | &nbsp;&nbsp;&nbsp;&nbsp;17.29 |
| Class R4 | &nbsp;&nbsp;&nbsp; 140672 | &nbsp;&nbsp;&nbsp; 8090 | &nbsp;&nbsp;&nbsp;&nbsp;17.39 |
| Class R6 | &nbsp;&nbsp;&nbsp; 212569707 | &nbsp;&nbsp;&nbsp; 12201773 | &nbsp;&nbsp;&nbsp;&nbsp;17.42 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Maximum offering price per share was equal to the net asset value per share for all
 share classes, except for Class A, for which the maximum offering price per share was $18.56 [100 / 94.25 x $17.49]. On sales of $50,000 or
 more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class
 A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and
 R6.

**See Notes to Financial Statements**

------

MFS Blended Research Value Equity Fund

**Financial Statements** \| **Statement of Operations**

This statement describes how much your fund earned in investment income and accrued in expenses. It also describes any gains and/or losses generated by fund operations.

---

| | |
|:---|:---|
| **Six months ended 11/30/25 (unaudited)**<br> **Net investment income (loss)**<br>|  |
| Income |  |
| Dividends from unaffiliated issuers | &nbsp;&nbsp; $2945708 |
| Dividends from affiliated issuers | &nbsp;&nbsp; 49323 |
| Other | &nbsp;&nbsp; 4445 |
| Foreign taxes withheld | &nbsp;&nbsp; (2759)<br>|
| Total investment income | &nbsp;&nbsp; $2996717 |
| Expenses |  |
| Management fee | &nbsp;&nbsp; $539326 |
| Distribution and service fees | &nbsp;&nbsp; 50313 |
| Shareholder servicing costs | &nbsp;&nbsp; 40959 |
| Administrative services fee | &nbsp;&nbsp; 25118 |
| Independent Trustees' compensation | &nbsp;&nbsp; 4033 |
| Custodian fee | &nbsp;&nbsp; 9257 |
| Shareholder communications | &nbsp;&nbsp; 3628 |
| Audit and tax fees | &nbsp;&nbsp; 36823 |
| Legal fees | &nbsp;&nbsp; 760 |
| Registration fees | &nbsp;&nbsp; 66649 |
| Miscellaneous | &nbsp;&nbsp; 17849 |
| Total expenses | &nbsp;&nbsp; $794715 |
| Reduction of expenses by investment adviser | &nbsp;&nbsp; (109883)<br>|
| Net expenses | &nbsp;&nbsp; $684832 |
| Net investment income (loss) | &nbsp;&nbsp; $2311885 |
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Unaffiliated issuers | &nbsp;&nbsp; $19650156 |
| Affiliated issuers | &nbsp;&nbsp; 398 |
| Net realized gain (loss) | &nbsp;&nbsp; $19650554 |
| Change in unrealized appreciation or depreciation |  |
| Unaffiliated issuers | &nbsp;&nbsp; $8017369 |
| Affiliated issuers | &nbsp;&nbsp; 232 |
| Net unrealized gain (loss) | &nbsp;&nbsp; $8017601 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $27668155 |
| Change in net assets from operations | &nbsp;&nbsp; $29980040 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Value Equity Fund

**Financial Statements** \| **Statements of Changes in Net Assets**

These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions.

---

| | | |
|:---|:---|:---|
|  | **Six months ended** | **Year ended** |
|  | <br>**11/30/25** <br>**(unaudited)**<br>| <br>**5/31/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $2311885 | &nbsp;&nbsp; $4703238 |
| Net realized gain (loss) | 19650554 | &nbsp;&nbsp; 26852511 |
| Net unrealized gain (loss) | 8017601 | &nbsp;&nbsp; (12044897)<br>|
| Change in net assets from operations | $29980040 | &nbsp;&nbsp; $19510852 |
| Total distributions to shareholders | $— | &nbsp;&nbsp; $(29000528)<br>|
| Change in net assets from fund share transactions | $(10819468)<br>| &nbsp;&nbsp; $7487660 |
| Total change in net assets | $19160572 | &nbsp;&nbsp; $(2002016)<br>|
| **Net assets** |  |  |
| At beginning of period | 295552025 | &nbsp;&nbsp; 297554041 |
| At end of period | $314712597 | &nbsp;&nbsp; $295552025 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Value Equity Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years. Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class A**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $15.88 | &nbsp;&nbsp; $16.53 | &nbsp;&nbsp; $13.45 | &nbsp;&nbsp; $15.05 | &nbsp;&nbsp; $16.28 | &nbsp;&nbsp; $11.48 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.10 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.20 | &nbsp;&nbsp; $0.19 | &nbsp;&nbsp; $0.20 |
| Net realized and unrealized gain (loss) | 1.51 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;3.36 | &nbsp;&nbsp; (0.68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;&nbsp;4.82 |
| Total from investment operations | $1.61 | &nbsp;&nbsp; $1.03 | &nbsp;&nbsp; $3.58 | &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $0.48 | &nbsp;&nbsp; $5.02 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.24)<br>| &nbsp;&nbsp; $(0.18)<br>| &nbsp;&nbsp; $(0.15)<br>| &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $(0.22)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.70)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.68)<br>| &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(1.12)<br>| &nbsp;&nbsp; $(1.71)<br>| &nbsp;&nbsp; $(0.22)<br>|
| Net asset value, end of period (x) | $17.49 | &nbsp;&nbsp; $15.88 | &nbsp;&nbsp; $16.53 | &nbsp;&nbsp; $13.45 | &nbsp;&nbsp; $15.05 | &nbsp;&nbsp; $16.28 |
| Total return (%) (r)(s)(t)(x) | 10.14<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.23 | &nbsp;&nbsp;&nbsp;&nbsp;27.03 | &nbsp;&nbsp; (3.51)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.02 | &nbsp;&nbsp;&nbsp;&nbsp;44.17 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.78<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 |
| Expenses after expense reductions | 0.71<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 |
| Net investment income (loss) | 1.23<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.34 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.41 | &nbsp;&nbsp;&nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;&nbsp;1.48 |
| Portfolio turnover rate | 28<br> (n)<br>| &nbsp;&nbsp; 48 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 57 |
| Net assets at end of period (000 omitted) | $34988 | &nbsp;&nbsp; $28907 | &nbsp;&nbsp; $26761 | &nbsp;&nbsp; $22380 | &nbsp;&nbsp; $17572 | &nbsp;&nbsp; $68612 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Value Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class B**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $15.68 | &nbsp;&nbsp; $16.30 | &nbsp;&nbsp; $13.21 | &nbsp;&nbsp; $14.85 | &nbsp;&nbsp; $16.28 | &nbsp;&nbsp; $11.46 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.04 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.10 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.10 |
| Net realized and unrealized gain (loss) | 1.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;3.31 | &nbsp;&nbsp; (0.68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;4.82 |
| Total from investment operations | $1.52 | &nbsp;&nbsp; $0.90 | &nbsp;&nbsp; $3.41 | &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $4.92 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.08)<br>| $— | &nbsp;&nbsp; $(0.08)<br>| &nbsp;&nbsp; $(0.10)<br>| &nbsp;&nbsp; $(0.10)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.70)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.52)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(1.05)<br>| &nbsp;&nbsp; $(1.80)<br>| &nbsp;&nbsp; $(0.10)<br>|
| Net asset value, end of period (x) | $17.20 | &nbsp;&nbsp; $15.68 | &nbsp;&nbsp; $16.30 | &nbsp;&nbsp; $13.21 | &nbsp;&nbsp; $14.85 | &nbsp;&nbsp; $16.28 |
| Total return (%) (r)(s)(t)(x) | 9.69<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.51 | &nbsp;&nbsp;&nbsp;&nbsp;26.05 | &nbsp;&nbsp; (4.29)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.32 | &nbsp;&nbsp;&nbsp;&nbsp;43.10 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.53<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 |
| Expenses after expense reductions | 1.46<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 |
| Net investment income (loss) | 0.49<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 |
| Portfolio turnover rate | 28<br> (n)<br>| &nbsp;&nbsp; 48 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 57 |
| Net assets at end of period (000 omitted) | $236 | &nbsp;&nbsp; $241 | &nbsp;&nbsp; $329 | &nbsp;&nbsp; $560 | &nbsp;&nbsp; $439 | &nbsp;&nbsp; $140 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class C**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $15.50 | &nbsp;&nbsp; $16.16 | &nbsp;&nbsp; $13.19 | &nbsp;&nbsp; $14.78 | &nbsp;&nbsp; $16.22 | &nbsp;&nbsp; $11.45 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.04 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.08 | &nbsp;&nbsp; $0.10 |
| Net realized and unrealized gain (loss) | 1.46 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;3.27 | &nbsp;&nbsp; (0.67)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;4.81 |
| Total from investment operations | $1.50 | &nbsp;&nbsp; $0.90 | &nbsp;&nbsp; $3.38 | &nbsp;&nbsp; $(0.58)<br>| &nbsp;&nbsp; $0.36 | &nbsp;&nbsp; $4.91 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.12)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.04)<br>| &nbsp;&nbsp; $(0.10)<br>| &nbsp;&nbsp; $(0.14)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.70)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.56)<br>| &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(1.01)<br>| &nbsp;&nbsp; $(1.80)<br>| &nbsp;&nbsp; $(0.14)<br>|
| Net asset value, end of period (x) | $17.00 | &nbsp;&nbsp; $15.50 | &nbsp;&nbsp; $16.16 | &nbsp;&nbsp; $13.19 | &nbsp;&nbsp; $14.78 | &nbsp;&nbsp; $16.22 |
| Total return (%) (r)(s)(t)(x) | 9.68<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.52 | &nbsp;&nbsp;&nbsp;&nbsp;25.97 | &nbsp;&nbsp; (4.20)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.29 | &nbsp;&nbsp;&nbsp;&nbsp;43.08 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.53<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 |
| Expenses after expense reductions | 1.46<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 |
| Net investment income (loss) | 0.48<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 |
| Portfolio turnover rate | 28<br> (n)<br>| &nbsp;&nbsp; 48 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 57 |
| Net assets at end of period (000 omitted) | $1466 | &nbsp;&nbsp; $1479 | &nbsp;&nbsp; $1389 | &nbsp;&nbsp; $966 | &nbsp;&nbsp; $974 | &nbsp;&nbsp; $873 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Value Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class I**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $15.74 | &nbsp;&nbsp; $16.40 | &nbsp;&nbsp; $13.35 | &nbsp;&nbsp; $14.93 | &nbsp;&nbsp; $16.37 | &nbsp;&nbsp; $11.54 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.12 | &nbsp;&nbsp; $0.26 | &nbsp;&nbsp; $0.26 | &nbsp;&nbsp; $0.23 | &nbsp;&nbsp; $0.25 | &nbsp;&nbsp; $0.24 |
| Net realized and unrealized gain (loss) | 1.50 | &nbsp;&nbsp;&nbsp;&nbsp;0.80 | &nbsp;&nbsp;&nbsp;&nbsp;3.33 | &nbsp;&nbsp; (0.67)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;4.84 |
| Total from investment operations | $1.62 | &nbsp;&nbsp; $1.06 | &nbsp;&nbsp; $3.59 | &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $0.52 | &nbsp;&nbsp; $5.08 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.22)<br>| &nbsp;&nbsp; $(0.17)<br>| &nbsp;&nbsp; $(0.26)<br>| &nbsp;&nbsp; $(0.25)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.70)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.72)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(1.14)<br>| &nbsp;&nbsp; $(1.96)<br>| &nbsp;&nbsp; $(0.25)<br>|
| Net asset value, end of period (x) | $17.36 | &nbsp;&nbsp; $15.74 | &nbsp;&nbsp; $16.40 | &nbsp;&nbsp; $13.35 | &nbsp;&nbsp; $14.93 | &nbsp;&nbsp; $16.37 |
| Total return (%) (r)(s)(t)(x) | 10.29<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.48 | &nbsp;&nbsp;&nbsp;&nbsp;27.34 | &nbsp;&nbsp; (3.24)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.25 | &nbsp;&nbsp;&nbsp;&nbsp;44.51 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.53<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 |
| Expenses after expense reductions | 0.46<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 |
| Net investment income (loss) | 1.48<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 |
| Portfolio turnover rate | 28<br> (n)<br>| &nbsp;&nbsp; 48 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 57 |
| Net assets at end of period (000 omitted) | $64734 | &nbsp;&nbsp; $60210 | &nbsp;&nbsp; $59883 | &nbsp;&nbsp; $52655 | &nbsp;&nbsp; $56857 | &nbsp;&nbsp; $1517 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R1**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $15.61 | &nbsp;&nbsp; $16.28 | &nbsp;&nbsp; $13.26 | &nbsp;&nbsp; $14.84 | &nbsp;&nbsp; $16.22 | &nbsp;&nbsp; $11.45 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.10 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.20 | &nbsp;&nbsp; $0.20 | &nbsp;&nbsp; $0.10 |
| Net realized and unrealized gain (loss) | 1.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;3.31 | &nbsp;&nbsp; (0.67)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;4.80 |
| Total from investment operations | $1.59 | &nbsp;&nbsp; $1.01 | &nbsp;&nbsp; $3.53 | &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $0.48 | &nbsp;&nbsp; $4.90 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.24)<br>| &nbsp;&nbsp; $(0.19)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.16)<br>| &nbsp;&nbsp; $(0.13)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.70)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.68)<br>| &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $(1.11)<br>| &nbsp;&nbsp; $(1.86)<br>| &nbsp;&nbsp; $(0.13)<br>|
| Net asset value, end of period (x) | $17.20 | &nbsp;&nbsp; $15.61 | &nbsp;&nbsp; $16.28 | &nbsp;&nbsp; $13.26 | &nbsp;&nbsp; $14.84 | &nbsp;&nbsp; $16.22 |
| Total return (%) (r)(s)(t)(x) | 10.19<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.21 | &nbsp;&nbsp;&nbsp;&nbsp;27.00 | &nbsp;&nbsp; (3.49)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.04 | &nbsp;&nbsp;&nbsp;&nbsp;43.07 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.78<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 |
| Expenses after expense reductions | 0.71<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 |
| Net investment income (loss) | 1.23<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.34 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;&nbsp;1.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 |
| Portfolio turnover rate | 28<br> (n)<br>| &nbsp;&nbsp; 48 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 57 |
| Net assets at end of period (000 omitted) | $131 | &nbsp;&nbsp; $119 | &nbsp;&nbsp; $112 | &nbsp;&nbsp; $88 | &nbsp;&nbsp; $92 | &nbsp;&nbsp; $89 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Value Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R2**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $15.67 | &nbsp;&nbsp; $16.33 | &nbsp;&nbsp; $13.30 | &nbsp;&nbsp; $14.89 | &nbsp;&nbsp; $16.31 | &nbsp;&nbsp; $11.50 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.08 | &nbsp;&nbsp; $0.18 | &nbsp;&nbsp; $0.18 | &nbsp;&nbsp; $0.16 | &nbsp;&nbsp; $0.16 | &nbsp;&nbsp; $0.17 |
| Net realized and unrealized gain (loss) | 1.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.80 | &nbsp;&nbsp;&nbsp;&nbsp;3.32 | &nbsp;&nbsp; (0.68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;&nbsp;4.83 |
| Total from investment operations | $1.57 | &nbsp;&nbsp; $0.98 | &nbsp;&nbsp; $3.50 | &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $0.45 | &nbsp;&nbsp; $5.00 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.20)<br>| &nbsp;&nbsp; $(0.15)<br>| &nbsp;&nbsp; $(0.10)<br>| &nbsp;&nbsp; $(0.17)<br>| &nbsp;&nbsp; $(0.19)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.70)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.64)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(1.07)<br>| &nbsp;&nbsp; $(1.87)<br>| &nbsp;&nbsp; $(0.19)<br>|
| Net asset value, end of period (x) | $17.24 | &nbsp;&nbsp; $15.67 | &nbsp;&nbsp; $16.33 | &nbsp;&nbsp; $13.30 | &nbsp;&nbsp; $14.89 | &nbsp;&nbsp; $16.31 |
| Total return (%) (r)(s)(t)(x) | 10.02<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.99 | &nbsp;&nbsp;&nbsp;&nbsp;26.70 | &nbsp;&nbsp; (3.79)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.81 | &nbsp;&nbsp;&nbsp;&nbsp;43.83 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.03<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 |
| Expenses after expense reductions | 0.96<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 |
| Net investment income (loss) | 0.98<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;1.23 |
| Portfolio turnover rate | 28<br> (n)<br>| &nbsp;&nbsp; 48 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 57 |
| Net assets at end of period (000 omitted) | $160 | &nbsp;&nbsp; $146 | &nbsp;&nbsp; $136 | &nbsp;&nbsp; $105 | &nbsp;&nbsp; $111 | &nbsp;&nbsp; $104 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R3**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $15.70 | &nbsp;&nbsp; $16.36 | &nbsp;&nbsp; $13.32 | &nbsp;&nbsp; $14.90 | &nbsp;&nbsp; $16.36 | &nbsp;&nbsp; $11.53 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.10 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.20 | &nbsp;&nbsp; $0.21 | &nbsp;&nbsp; $0.20 |
| Net realized and unrealized gain (loss) | 1.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.80 | &nbsp;&nbsp;&nbsp;&nbsp;3.33 | &nbsp;&nbsp; (0.67)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;4.85 |
| Total from investment operations | $1.59 | &nbsp;&nbsp; $1.02 | &nbsp;&nbsp; $3.55 | &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $0.48 | &nbsp;&nbsp; $5.05 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.24)<br>| &nbsp;&nbsp; $(0.19)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.24)<br>| &nbsp;&nbsp; $(0.22)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.70)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.68)<br>| &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $(1.11)<br>| &nbsp;&nbsp; $(1.94)<br>| &nbsp;&nbsp; $(0.22)<br>|
| Net asset value, end of period (x) | $17.29 | &nbsp;&nbsp; $15.70 | &nbsp;&nbsp; $16.36 | &nbsp;&nbsp; $13.32 | &nbsp;&nbsp; $14.90 | &nbsp;&nbsp; $16.36 |
| Total return (%) (r)(s)(t)(x) | 10.13<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.24 | &nbsp;&nbsp;&nbsp;&nbsp;27.01 | &nbsp;&nbsp; (3.48)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.02 | &nbsp;&nbsp;&nbsp;&nbsp;44.17 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.78<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 |
| Expenses after expense reductions | 0.71<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 |
| Net investment income (loss) | 1.23<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.33 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.43 | &nbsp;&nbsp;&nbsp;&nbsp;1.33 | &nbsp;&nbsp;&nbsp;&nbsp;1.48 |
| Portfolio turnover rate | 28<br> (n)<br>| &nbsp;&nbsp; 48 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 57 |
| Net assets at end of period (000 omitted) | $287 | &nbsp;&nbsp; $263 | &nbsp;&nbsp; $336 | &nbsp;&nbsp; $292 | &nbsp;&nbsp; $312 | &nbsp;&nbsp; $103 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Value Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R4**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $15.77 | &nbsp;&nbsp; $16.42 | &nbsp;&nbsp; $13.37 | &nbsp;&nbsp; $14.96 | &nbsp;&nbsp; $16.37 | &nbsp;&nbsp; $11.54 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.12 | &nbsp;&nbsp; $0.26 | &nbsp;&nbsp; $0.26 | &nbsp;&nbsp; $0.23 | &nbsp;&nbsp; $0.24 | &nbsp;&nbsp; $0.23 |
| Net realized and unrealized gain (loss) | 1.50 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;3.33 | &nbsp;&nbsp; (0.68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;4.85 |
| Total from investment operations | $1.62 | &nbsp;&nbsp; $1.07 | &nbsp;&nbsp; $3.59 | &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $0.54 | &nbsp;&nbsp; $5.08 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.22)<br>| &nbsp;&nbsp; $(0.17)<br>| &nbsp;&nbsp; $(0.25)<br>| &nbsp;&nbsp; $(0.25)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.70)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.72)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(1.14)<br>| &nbsp;&nbsp; $(1.95)<br>| &nbsp;&nbsp; $(0.25)<br>|
| Net asset value, end of period (x) | $17.39 | &nbsp;&nbsp; $15.77 | &nbsp;&nbsp; $16.42 | &nbsp;&nbsp; $13.37 | &nbsp;&nbsp; $14.96 | &nbsp;&nbsp; $16.37 |
| Total return (%) (r)(s)(t)(x) | 10.27<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.54 | &nbsp;&nbsp;&nbsp;&nbsp;27.30 | &nbsp;&nbsp; (3.29)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.38 | &nbsp;&nbsp;&nbsp;&nbsp;44.52 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.53<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 |
| Expenses after expense reductions | 0.46<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 |
| Net investment income (loss) | 1.48<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 |
| Portfolio turnover rate | 28<br> (n)<br>| &nbsp;&nbsp; 48 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 57 |
| Net assets at end of period (000 omitted) | $141 | &nbsp;&nbsp; $128 | &nbsp;&nbsp; $120 | &nbsp;&nbsp; $94 | &nbsp;&nbsp; $97 | &nbsp;&nbsp; $94 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R6**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $15.79 | &nbsp;&nbsp; $16.44 | &nbsp;&nbsp; $13.39 | &nbsp;&nbsp; $14.97 | &nbsp;&nbsp; $16.39 | &nbsp;&nbsp; $11.56 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.13 | &nbsp;&nbsp; $0.27 | &nbsp;&nbsp; $0.27 | &nbsp;&nbsp; $0.25 | &nbsp;&nbsp; $0.25 | &nbsp;&nbsp; $0.25 |
| Net realized and unrealized gain (loss) | 1.50 | &nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;&nbsp;3.33 | &nbsp;&nbsp; (0.68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;&nbsp;4.85 |
| Total from investment operations | $1.63 | &nbsp;&nbsp; $1.09 | &nbsp;&nbsp; $3.60 | &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $0.54 | &nbsp;&nbsp; $5.10 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.23)<br>| &nbsp;&nbsp; $(0.18)<br>| &nbsp;&nbsp; $(0.26)<br>| &nbsp;&nbsp; $(0.27)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.44)<br>| &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (1.70)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.74)<br>| &nbsp;&nbsp; $(0.55)<br>| &nbsp;&nbsp; $(1.15)<br>| &nbsp;&nbsp; $(1.96)<br>| &nbsp;&nbsp; $(0.27)<br>|
| Net asset value, end of period (x) | $17.42 | &nbsp;&nbsp; $15.79 | &nbsp;&nbsp; $16.44 | &nbsp;&nbsp; $13.39 | &nbsp;&nbsp; $14.97 | &nbsp;&nbsp; $16.39 |
| Total return (%) (r)(s)(t)(x) | 10.32<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.60 | &nbsp;&nbsp;&nbsp;&nbsp;27.34 | &nbsp;&nbsp; (3.15)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.41 | &nbsp;&nbsp;&nbsp;&nbsp;44.57 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.46<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.52 |
| Expenses after expense reductions | 0.39<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.40 |
| Net investment income (loss) | 1.55<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.66 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;1.75 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.83 |
| Portfolio turnover rate | 28<br> (n)<br>| &nbsp;&nbsp; 48 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 51 | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 57 |
| Net assets at end of period (000 omitted) | $212570 | &nbsp;&nbsp; $204059 | &nbsp;&nbsp; $208489 | &nbsp;&nbsp; $161572 | &nbsp;&nbsp; $162638 | &nbsp;&nbsp; $190875 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Value Equity Fund

*Financial Highlights - continued*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

MFS Blended Research Value Equity Fund

**Notes to Financial Statements (unaudited)**

**(1) Business and Organization**

MFS Blended Research Value Equity Fund (the fund) is a diversified series of MFS Series Trust X (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(2) Significant Accounting Policies**

**General** — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of the fund's Statement of Assets and Liabilities through the date that the financial statements were issued.

**Operating Segments** — An operating segment is defined in FASB Accounting Standards Codification Topic 280-Segment Reporting as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the entity's chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available. The fund represents a single operating segment and the Chairman's Committee of the fund's adviser acts as the segment's CODM. The fund's total returns, expense ratios, and changes in net assets which are used by the CODM to assess segment performance and to make resource allocation decisions to the segment are consistent with that presented within the fund's financial statements.

**Balance Sheet Offsetting** — The fund's accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the International Swaps and Derivatives Association (ISDA) Master Agreement, or similar agreement, does not result in an offset of reported amounts of financial assets and financial liabilities in the Statement of Assets and Liabilities across transactions between the fund and the applicable counterparty. The fund's right to setoff may be restricted or prohibited by the bankruptcy or insolvency laws of the particular jurisdiction to which a specific master netting agreement counterparty is subject. Balance sheet offsetting disclosures, to the extent applicable to the fund, have been included in the fund's Significant Accounting Policies note under the captions for each of the fund's in-scope financial instruments and transactions.

**Investment Valuations** — Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading

------

MFS Blended Research Value Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund's net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund's foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of November 30, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities | $313284727 | $— | $— | $313284727 |
| Investment Companies | 1399548 |  |  | 1399548 |
| Total | $314684275 | $— | $— | $314684275 |

---

For further information regarding security characteristics, see the Portfolio of Investments.

**Foreign Currency Translation** — Purchases and sales of foreign investments, income, and expenses are converted into U.S. dollars based upon currency exchange rates prevailing on the respective dates of such transactions or on the reporting date for foreign denominated receivables and payables. Gains and losses attributable to foreign currency exchange rates on sales of securities are recorded for financial statement purposes as net realized gains and losses on investments. Gains and losses attributable to foreign exchange rate movements on receivables, payables, income and expenses are recorded for financial statement purposes as foreign currency transaction gains and losses. That portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.

**Indemnifications** — Under the fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into agreements with service providers that may contain indemnification clauses. The fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against the fund that have not yet occurred.

**Investment Transactions and Income** — Dividends received in cash are recorded on the ex-dividend date. Certain dividends from foreign securities will be recorded when the fund is informed of the dividend if such information is obtained subsequent to the ex-dividend date. Dividend payments received in additional securities are recorded on the ex-dividend date in an amount equal to the value of the security on such date.

The fund may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statement of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statement of Operations.

Investment transactions are recorded on the trade date. In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis.

**Tax Matters and Distributions** — The fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. The fund's federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for generally a three year period. Management has analyzed the fund's tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability. Foreign

------

MFS Blended Research Value Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

taxes, if any, have been accrued by the fund in the accompanying financial statements in accordance with the applicable foreign tax law. Foreign income taxes may be withheld by certain countries in which the fund invests. Additionally, capital gains realized by the fund on securities issued in or by certain foreign countries may be subject to capital gains tax imposed by those countries.

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.

Book/tax differences primarily relate to wash sale loss deferrals and treating a portion of the proceeds from redemptions as a distribution for tax purposes.

The tax character of distributions declared to shareholders for the last fiscal year is as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**5/31/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $10320028 |
| Long-term capital gains | &nbsp;&nbsp; 18680500 |
| Total distributions | &nbsp;&nbsp; $29000528 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

---

| | |
|:---|:---|
| **As of 11/30/25** |  |
| Cost of investments | &nbsp;&nbsp; $242054734 |
| Gross appreciation | &nbsp;&nbsp; 80439009 |
| Gross depreciation | &nbsp;&nbsp; (7809468)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $72629541 |
| **As of 5/31/25** |  |
| Undistributed ordinary income | &nbsp;&nbsp; 2284585 |
| Undistributed long-term capital gain | &nbsp;&nbsp; 13229633 |
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; 64727228 |

---

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

**Multiple Classes of Shares of Beneficial Interest** — The fund offers multiple classes of shares, which differ in their respective distribution and service fees. The fund's income, realized and unrealized gain (loss), and common expenses are allocated to shareholders based on the daily net assets of each class. Dividends are declared separately for each class. Differences in per share dividend rates are generally due to differences in separate class expenses. Class B and Class C shares will convert to Class A shares approximately eight years after purchase. The fund's distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months** <br>**ended** <br>**11/30/25**<br>| **Year** <br>**ended** <br>**5/31/25**<br>|
| Class A | $— | &nbsp;&nbsp; $2684044 |
| Class B |  | &nbsp;&nbsp; 24445 |
| Class C |  | &nbsp;&nbsp; 128652 |
| Class I |  | &nbsp;&nbsp; 6033750 |
| Class R1 |  | &nbsp;&nbsp; 11597 |
| Class R2 |  | &nbsp;&nbsp; 13767 |
| Class R3 |  | &nbsp;&nbsp; 35044 |
| Class R4 |  | &nbsp;&nbsp; 12560 |
| Class R6 |  | &nbsp;&nbsp; 20056669 |
| Total | $— | &nbsp;&nbsp; $29000528 |

---

------

MFS Blended Research Value Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(3) Transactions with Affiliates**

**Investment Adviser** — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. For the period from June 1, 2025 through September 30, 2025, the management fee was computed daily and paid monthly at the following annual rates based on the fund's average daily net assets:

---

| | |
|:---|:---|
| Up to $1 billion | 0.40% |
| In excess of $1 billion and up to $2.5 billion | 0.375% |
| In excess of $2.5 billion | 0.35% |

---

Effective October 1, 2025, the management fee is computed daily and paid monthly at the following annual rates based on the fund's average daily net assets:

---

| | |
|:---|:---|
| Up to $5 billion | 0.25% |
| In excess of $5 billion | 0.225% |

---

MFS has agreed in writing to reduce its management fee by a specified amount if certain MFS mutual fund assets exceed thresholds agreed to by MFS and the fund's Board of Trustees. MFS has also agreed in writing to waive at least 0.01% of its management fee as part of this agreement. The agreement to waive at least 0.01% of the management fee will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this management fee reduction amounted to $21,436, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.34% of the fund's average daily net assets.

For the period from June 1, 2025 through September 30, 2025, the investment adviser had agreed in writing to pay a portion of the fund's total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses did not exceed the following rates annually of each class's average daily net assets:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Classes | Classes | Classes | Classes | Classes | Classes | Classes | Classes | Classes |
| A | B | C | I | R1 | R2 | R3 | R4 | R6 |
| 0.74% | 1.49% | 1.49% | 0.49% | 1.49% | 0.99% | 0.74% | 0.49% | 0.44% |

---

This written agreement terminated on September 30, 2025. For the period from June 1, 2025 through September 30, 2025, this reduction amounted to $75,792, which is included in the reduction of total expenses in the Statement of Operations.

Effective October 1, 2025, the investment adviser has agreed in writing to pay a portion of the fund's total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses do not exceed the following rates annually of each class's average daily net assets:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **Classes** |  |  |  |  |
| **A** | **B** | **C** | **I** | **R1** | **R2** | **R3** | **R4** | **R6** |
| 0.64% | 1.39% | 1.39% | 0.39% | 1.39% | 0.89% | 0.64% | 0.39% | 0.34% |

---

This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the period from October 1, 2025 through November 30, 2025, this reduction amounted to $12,655, which is included in the reduction of total expenses in the Statement of Operations.

**Distributor** — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received $5,871 for the six months ended November 30, 2025, as its portion of the initial sales charge on sales of Class A shares of the fund.

The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.

The fund's distribution plan provides that the fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries. The distribution and service fees are computed daily and paid monthly.

------

MFS Blended Research Value Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

**Distribution Plan Fee Table:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| Class A |  | 0.25% | 0.25% | 0.25% | $40567 |
| Class B | 0.75% | 0.25% | 1.00% | 1.00% | 1214 |
| Class C | 0.75% | 0.25% | 1.00% | 1.00% | 7637 |
| Class R1 | 0.75% | 0.25% | 1.00% | 0.25% | 158 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 389 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 348 |
| Total Distribution and Service Fees  |  |  |  |  | $50313 |

---

(d) In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each

class's average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting

period. Any rate changes, if applicable, are detailed below.

(e) The annual effective rates represent actual fees incurred under the distribution plan for the six months ended November 30, 2025 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended November 30, 2025, there were no service fee rebates. For the six months ended November 30, 2025, the 0.75% distribution fee was not imposed for Class R1 shares due to the sales charge limitations contained in Financial Industry Regulatory Authority ("FINRA") Rule 2341.

Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class B shares are subject to a CDSC in the event of a shareholder redemption within six years of purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD and during the six months ended November 30, 2025, were as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| Class A | $— |
| Class B |  |
| Class C | 98 |

---

**Shareholder Servicing Agent** — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from the fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of the fund as determined periodically under the supervision of the fund's Board of Trustees. For the six months ended November 30, 2025, the fee was $5,914, which equated to 0.0038% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the six months ended November 30, 2025, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $35,045.

**Administrator** — MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to the fund. Under an administrative services agreement, the fund reimburses MFS the costs incurred to provide these services. The fund is charged an annual fixed amount of $17,500 plus a fee based on average daily net assets. The administrative services fee is computed daily and paid monthly. The administrative services fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.0162% of the fund's average daily net assets.

**Trustees' and Officers' Compensation** — The fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. Independent Trustees' compensation is accrued daily and paid subsequent to each Trustee Board meeting. The fund does not pay compensation directly to Trustees or officers of the fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to the fund. Certain officers and Trustees of the fund are officers or directors of MFS, MFD, and MFSC.

**Other** — The fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.

MFS purchased or redeemed fund shares on the dates indicated:

------

MFS Blended Research Value Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| 8/19/2024 | Redemption | Class A | 3 | $46 |
| 8/19/2024 | Redemption | Class C | 5586 | 92285 |
| 8/19/2024 | Redemption | Class I | 3 | 47 |

---

At November 30, 2025, MFS held approximately 83% of the outstanding shares of Class R2 and 100% of the outstanding shares of Class R1 and Class R4.

The adviser has voluntarily undertaken to reimburse the fund from its own resources on a quarterly basis for the cost of investment research embedded in the cost of the fund's securities trades. This agreement may be rescinded at any time. For the six months ended November 30, 2025, this reimbursement amounted to $4,445, which is included in "Other" income in the Statement of Operations.

**(4) Portfolio Securities**

For the six months ended November 30, 2025, purchases and sales of investments, other than short-term obligations, aggregated $85,107,480 and $92,430,136, respectively.

**(5) Shares of Beneficial Interest** 

The fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** <br>**11/30/25** | **Six months ended** <br>**11/30/25** | **Year ended** <br>**5/31/25** | **Year ended** <br>**5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 298906 | &nbsp;&nbsp; $5021923 | &nbsp;&nbsp; 399110 | &nbsp;&nbsp; $6405540 |
| Class B | 150 | &nbsp;&nbsp; 2360 |  |  |
| Class C | 6122 | &nbsp;&nbsp; 99018 | &nbsp;&nbsp; 28347 | &nbsp;&nbsp; 445650 |
| Class I | 133263 | &nbsp;&nbsp; 2226705 | &nbsp;&nbsp; 286208 | &nbsp;&nbsp; 4579721 |
| Class R2 | 64 | &nbsp;&nbsp; 1063 | &nbsp;&nbsp; 152 | &nbsp;&nbsp; 2458 |
| Class R3 | 105 | &nbsp;&nbsp; 1770 | &nbsp;&nbsp; 1172 | &nbsp;&nbsp; 19436 |
| Class R6 | 215098 | &nbsp;&nbsp; 3564786 | &nbsp;&nbsp; 1159390 | &nbsp;&nbsp; 18188643 |
|  | 653708 | &nbsp;&nbsp; $10917625 | &nbsp;&nbsp; 1874379 | &nbsp;&nbsp; $29641448 |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A |  | $— | &nbsp;&nbsp; 168876 | &nbsp;&nbsp; $2683438 |
| Class B |  |  | &nbsp;&nbsp; 1552 | &nbsp;&nbsp; 24445 |
| Class C |  |  | &nbsp;&nbsp; 8268 | &nbsp;&nbsp; 128652 |
| Class I |  |  | &nbsp;&nbsp; 383582 | &nbsp;&nbsp; 6033750 |
| Class R1 |  |  | &nbsp;&nbsp; 743 | &nbsp;&nbsp; 11597 |
| Class R2 |  |  | &nbsp;&nbsp; 877 | &nbsp;&nbsp; 13767 |
| Class R3 |  |  | &nbsp;&nbsp; 2231 | &nbsp;&nbsp; 35044 |
| Class R4 |  |  | &nbsp;&nbsp; 797 | &nbsp;&nbsp; 12560 |
| Class R6 |  |  | &nbsp;&nbsp; 1271018 | &nbsp;&nbsp; 20056669 |
|  |  | $— | &nbsp;&nbsp; 1837944 | &nbsp;&nbsp; $28999922 |
| Shares reacquired |  |  |  |  |
| Class A | (118884)<br>| &nbsp;&nbsp; $(2015418)<br>| &nbsp;&nbsp; (367063)<br>| &nbsp;&nbsp; $(5928918)<br>|
| Class B | (1812)<br>| &nbsp;&nbsp; (30191)<br>| &nbsp;&nbsp; (6376)<br>| &nbsp;&nbsp; (104177)<br>|
| Class C | (15372)<br>| &nbsp;&nbsp; (255347)<br>| &nbsp;&nbsp; (27102)<br>| &nbsp;&nbsp; (426932)<br>|
| Class I | (229120)<br>| &nbsp;&nbsp; (3843441)<br>| &nbsp;&nbsp; (497481)<br>| &nbsp;&nbsp; (8141696)<br>|
| Class R2 | (120)<br>| &nbsp;&nbsp; (2018)<br>| &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; (22)<br>|
| Class R3 | (280)<br>| &nbsp;&nbsp; (4724)<br>| &nbsp;&nbsp; (7151)<br>| &nbsp;&nbsp; (113088)<br>|
| Class R6 | (934852)<br>| &nbsp;&nbsp; (15585954)<br>| &nbsp;&nbsp; (2189405)<br>| &nbsp;&nbsp; (36438877)<br>|
|  | (1300440)<br>| &nbsp;&nbsp; $(21737093)<br>| &nbsp;&nbsp; (3094579)<br>| &nbsp;&nbsp; $(51153710)<br>|

---

------

MFS Blended Research Value Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **11/30/25** | **Six months ended**<br> **11/30/25** | **Year ended**<br> **5/31/25** | **Year ended**<br> **5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Net change |  |  |  |  |
| Class A | 180022 | &nbsp;&nbsp; $3006505 | &nbsp;&nbsp; 200923 | &nbsp;&nbsp; $3160060 |
| Class B | (1662)<br>| &nbsp;&nbsp; (27831)<br>| &nbsp;&nbsp; (4824)<br>| &nbsp;&nbsp; (79732)<br>|
| Class C | (9250)<br>| &nbsp;&nbsp; (156329)<br>| &nbsp;&nbsp; 9513 | &nbsp;&nbsp; 147370 |
| Class I | (95857)<br>| &nbsp;&nbsp; (1616736)<br>| &nbsp;&nbsp; 172309 | &nbsp;&nbsp; 2471775 |
| Class R1 |  |  | &nbsp;&nbsp; 743 | &nbsp;&nbsp; 11597 |
| Class R2 | (56)<br>| &nbsp;&nbsp; (955)<br>| &nbsp;&nbsp; 1028 | &nbsp;&nbsp; 16203 |
| Class R3 | (175)<br>| &nbsp;&nbsp; (2954)<br>| &nbsp;&nbsp; (3748)<br>| &nbsp;&nbsp; (58608)<br>|
| Class R4 |  |  | &nbsp;&nbsp; 797 | &nbsp;&nbsp; 12560 |
| Class R6 | (719754)<br>| &nbsp;&nbsp; (12021168)<br>| &nbsp;&nbsp; 241003 | &nbsp;&nbsp; 1806435 |
|  | (646732)<br>| &nbsp;&nbsp; $(10819468)<br>| &nbsp;&nbsp; 617744 | &nbsp;&nbsp; $7487660 |

---

The fund is one of several mutual funds in which certain MFS funds may invest. The MFS funds do not invest in the underlying funds for the purpose of exercising management or control. At the end of the period, the MFS Lifetime 2040 Fund, the MFS Lifetime 2050 Fund, the MFS Lifetime 2045 Fund, the MFS Lifetime 2035 Fund, the MFS Lifetime 2055 Fund, the MFS Lifetime 2030 Fund, the MFS Lifetime 2060 Fund, the MFS Lifetime Income Fund, the MFS Lifetime 2025 Fund, and the MFS Lifetime 2065 Fund were each the owners of record of approximately 13%, 11%, 9%, 8%, 8%, 7%, 5%, 3%, 2%, and 1%, respectively, of the value of outstanding voting shares of the fund.

Effective June 1, 2019, purchases of the fund's Class B shares were closed to new and existing investors subject to certain exceptions. Effective September 29, 2023, purchases of the fund's Class R1 and Class R2 shares were closed to new eligible investors.

**(6) Line of Credit**

The fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by the fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate) plus 0.10%, 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 12, 2026 unless extended or renewed. In addition, the fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the six months ended November 30, 2025, the fund's commitment fee and interest expense were $697 and $0, respectively, and are included in "Miscellaneous" expense in the Statement of Operations.

**(7) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the six months ended November 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Beginning** <br>**Value**<br>| **Purchases** | &nbsp;&nbsp; **Sales** <br>**Proceeds**<br>| &nbsp;&nbsp; **Realized** <br>**Gain** <br>**(Loss)**<br>| &nbsp;&nbsp; **Change in** <br>**Unrealized** <br>**Appreciation** <br> **or** <br>**Depreciation**<br>| &nbsp;&nbsp; **Ending** <br>**Value**<br>|
| MFS Institutional Money Market <br> Portfolio<br>| &nbsp;&nbsp; $2013676 | &nbsp;&nbsp; $11719077 | &nbsp;&nbsp; $12333835 | &nbsp;&nbsp; $398 | &nbsp;&nbsp; $232 | &nbsp;&nbsp; $1399548 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; $49323 | $— |

---

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Blended Research Value Equity Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Blended Research Value Equity Fund.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

This information is disclosed as part of the financial statements included in Item 7 above for MFS Blended Research Value Equity Fund. See the Statement of Operations and Note 3 within the Notes to Financial Statements for more information.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

------

MFS Blended Research Value Equity Fund

**Board Review of Investment Advisory Agreement**

**MFS Blended Research Value Equity Fund**

The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested ("independent") Trustees, voting separately, annually approve the continuation of the Fund's investment advisory agreement with MFS. The Trustees consider matters bearing on the Fund and its advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2025 ("contract review meetings") for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Fund and the other investment companies that the Board oversees (the "MFS Funds"). The independent Trustees were assisted in their evaluation of the Fund's investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.

In connection with their deliberations regarding the continuation of the investment advisory agreement, the Trustees, including the independent Trustees, considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The investment advisory agreement for the Fund was considered separately, although the Trustees also took into account the common interests of all MFS Funds in their review. As described below, the Trustees considered the nature, quality, and extent of the various investment advisory, administrative, and shareholder services performed by MFS under the existing investment advisory agreement and other arrangements with the Fund.

In connection with their contract review meetings, the Trustees received and relied upon materials that included, among other items: (i) information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent third party, on the investment performance of the Fund for various time periods ended December 31, 2024 and the investment performance of a group of funds with substantially similar investment classifications/objectives (the "Broadridge performance universe"), (ii) information provided by Broadridge on the Fund's advisory fees and other expenses and the advisory fees and other expenses of comparable funds identified by Broadridge as well as all other funds in the same investment classification/category (the "Broadridge expense group and universe"), (iii) information provided by MFS on the advisory fees of portfolios of other clients of MFS, including institutional separate accounts and other clients, (iv) information as to whether and to what extent applicable expense waivers, reimbursements or fee "breakpoints" are observed for the Fund, (v) information regarding MFS' financial results and financial condition, including MFS' and certain of its affiliates' estimated profitability from services performed for the Fund and the MFS Funds as a whole, and compared to MFS' institutional business, (vi) MFS' views regarding the outlook for the mutual fund industry and the strategic business plans of MFS, (vii) descriptions of various functions performed by MFS for the Funds, such as compliance monitoring and portfolio trading practices, and (viii) information regarding the overall organization of MFS, including information about MFS' senior management and other personnel providing investment advisory, administrative and other services to the Fund and the other MFS Funds. The comparative performance, fee and expense information prepared and provided by Broadridge was not independently verified and the independent Trustees did not independently verify any information provided to them by MFS.

The Trustees' conclusion as to the continuation of the investment advisory agreement was based on a comprehensive consideration of all information provided to the Trustees and not the result of any single factor. Some of the factors that figured particularly in the Trustees' deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. It is also important to recognize that the fee arrangements for the Fund and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees' conclusions may be based, in part, on their consideration of these same arrangements during the course of the year and in prior years.

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 3rd quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 4th quintile for the one-year period and the 2nd quintile for the three-year period ended December 31, 2024 relative to the Broadridge performance universe. Because of the passage of time, these performance results may differ from the performance results for more recent periods, including those shown elsewhere in this report.

------

MFS Blended Research Value Equity Fund

*Board Review of Investment Advisory Agreement - continued*

In the course of their deliberations, the Trustees took into account information provided by MFS in connection with the contract review meetings, as well as during investment review meetings conducted with portfolio management personnel during the course of the year regarding the Fund's performance. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that they were satisfied with MFS' responses and efforts relating to investment performance.

In assessing the reasonableness of the Fund's advisory fee, the Trustees considered, among other information, the Fund's advisory fee and the total expense ratio of the Fund's Class I shares as a percentage of average daily net assets and the advisory fee and total expense ratios of the Broadridge expense group based on information provided by Broadridge. The Trustees considered that MFS currently observes an expense limitation for the Fund, which may not be changed without the Trustees' approval. The Trustees also considered that, according to the data provided by Broadridge (which takes into account any fee reductions or expense limitations that were in effect during the Fund's last fiscal year), the Fund's effective advisory fee rate and total expense ratio were each lower than the Broadridge expense group median. The Trustees also noted that MFS has agreed in writing to amend its contractual advisory fee rate schedule and to further reduce the Fund's expense limitation, each effective October 1, 2025, and each of which may not be changed without the Trustees' approval.

The Trustees also considered the advisory fees charged by MFS to any institutional separate accounts advised by MFS ("separate accounts") and unaffiliated investment companies for which MFS serves as subadviser ("subadvised funds") that have comparable investment strategies to the Fund, if any. In comparing these fees, the Trustees considered information provided by MFS as to the generally broader scope of services provided by MFS to the Fund, as well as the more extensive regulatory burdens imposed on MFS in managing the Fund, in comparison to separate accounts and subadvised funds. The Trustees also considered the higher demands placed on MFS' investment personnel and trading infrastructure as a result of the daily cash in-flows and out-flows of the Fund in comparison to separate accounts.

The Trustees also considered whether the Fund may benefit from any economies of scale in the management of the Fund in the event of growth in assets of the Fund and/or growth in assets of the MFS Funds as a whole. They noted that the Fund's advisory fee rate schedule is subject to contractual breakpoints that reduce the Fund's advisory fee rate on average daily net assets over $1 billion and $2.5 billion. They also noted that MFS has agreed to amend its contractual advisory fee schedule to reduce the Fund's advisory fee rate to 0.25% on assets up to $5 billion and 0.225% on assets over $5 billion (replacing the existing contractual advisory fee rate schedule), effective October 1, 2025. The Trustees also noted that MFS has agreed in writing to waive a portion of the management fees of certain MFS Funds, including the Fund, if the total combined assets of certain funds within the MFS Funds' complex increase above agreed upon thresholds (the "group fee waiver"), enabling the Fund's shareholders to share in the benefits from any economies of scale at the complex level. The group fee waiver is reviewed and renewed annually between the Board and MFS. The Trustees concluded that the breakpoint and the group fee waiver were sufficient to allow the Fund to benefit from economies of scale as its assets and overall complex assets grow.

The Trustees also considered information prepared by MFS relating to MFS' costs and profits with respect to the Fund, the MFS Funds considered as a group, and other investment companies and accounts advised by MFS, as well as MFS' methodologies used to determine and allocate its costs to the MFS Funds, the Fund and other accounts and products for purposes of estimating profitability.

After reviewing these and other factors described herein, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that the advisory fees charged to the Fund represent reasonable compensation in light of the services being provided by MFS to the Fund.

In addition, the Trustees considered MFS' resources and related efforts to continue to retain, attract and motivate capable personnel to serve the Fund. The Trustees also considered current and developing conditions in the financial services industry, including the presence of large and well-capitalized companies which are spending, and appear to be prepared to continue to spend, substantial sums to engage personnel and to provide services to competing investment companies. In this regard, the Trustees also considered the financial resources of MFS and its ultimate parent, Sun Life Financial Inc. The Trustees also considered the advantages and possible disadvantages to the Fund of having an adviser that also serves other investment companies as well as other accounts.

The Trustees also considered the nature, quality, cost, and extent of administrative, transfer agency, and distribution services provided to the Fund by MFS and its affiliates under agreements and plans other than the investment advisory agreement, including any 12b-1 fees the Fund pays to MFS Fund Distributors, Inc., an affiliate of MFS. The Trustees also considered the nature, extent and quality of certain other services MFS performs or arranges for on the Fund's behalf, which may include securities lending programs, directed expense payment programs, class action recovery programs, and MFS' interaction with third-party service providers, principally custodians and sub-custodians. The Trustees concluded that the various non-advisory services provided by MFS and its affiliates on behalf of the Fund were satisfactory.

------

MFS Blended Research Value Equity Fund

*Board Review of Investment Advisory Agreement - continued*

The Trustees considered so-called "fall-out benefits" to MFS such as reputational value derived from serving as investment manager to the MFS Funds. The Trustees also considered that MFS discontinued its historic practice of obtaining investment research from portfolio brokerage commissions paid by certain MFS Funds effective January 2018, and directly pays or voluntarily reimburses a Fund, if applicable, for the costs of external research acquired through the use of the Fund's portfolio brokerage commissions.

Based on their evaluation of factors that they deemed to be material, including those factors described above, the Board of Trustees, including the independent Trustees, concluded that the Fund's investment advisory agreement with MFS should be continued for an additional one-year period, commencing August 1, 2025.

------

MFS Blended Research Growth Equity Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS Blended Research Growth Equity Fund

**Portfolio of Investments - 11/30/25 (unaudited)**

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – 98.7% | Common Stocks – 98.7% | Common Stocks – 98.7% |
| Aerospace & Defense – 3.6% | Aerospace & Defense – 3.6% |  |
| BWX Technologies, Inc. | 23520 | &nbsp;&nbsp; $4207258 |
| Curtiss-Wright Corp. | 4923 | &nbsp;&nbsp; 2778000 |
| General Electric Co. | 28388 | &nbsp;&nbsp; 8472398 |
| Leidos Holdings, Inc. | 17544 | &nbsp;&nbsp; 3352658 |
|  |  | &nbsp;&nbsp; $18810314 |
| Automotive – 2.8% | Automotive – 2.8% |  |
| Aptiv PLC (a) | 8505 | &nbsp;&nbsp; $659563 |
| Tesla, Inc. (a) | 31970 | &nbsp;&nbsp; 13752535 |
|  |  | &nbsp;&nbsp; $14412098 |
| Biotechnology – 0.9% | Biotechnology – 0.9% |  |
| Gilead Sciences, Inc. | 34460 | &nbsp;&nbsp; $4336446 |
| Broadcasting – 2.1% | Broadcasting – 2.1% |  |
| Netflix, Inc. (a) | 37270 | &nbsp;&nbsp; $4009507 |
| Spotify Technology S.A. (a) | 9568 | &nbsp;&nbsp; 5729988 |
| TKO Group Holdings, Inc. | 6660 | &nbsp;&nbsp; 1291307 |
|  |  | &nbsp;&nbsp; $11030802 |
| Brokerage & Asset Managers – 0.8% | Brokerage & Asset Managers – 0.8% |  |
| Citigroup, Inc. | 40914 | &nbsp;&nbsp; $4238690 |
| Business Services – 1.2% | Business Services – 1.2% |  |
| Dropbox, Inc. (a) | 129890 | &nbsp;&nbsp; $3881113 |
| Verisk Analytics, Inc., "A" | 10381 | &nbsp;&nbsp; 2336452 |
|  |  | &nbsp;&nbsp; $6217565 |
| Computer Software – 16.4% | Computer Software – 16.4% |  |
| AppLovin Corp. (a) | 5296 | &nbsp;&nbsp; $3174846 |
| Atlassian Corp. (a) | 21172 | &nbsp;&nbsp; 3165637 |
| Autodesk, Inc. (a) | 19946 | &nbsp;&nbsp; 6050420 |
| Datadog, Inc., "A" (a) | 32675 | &nbsp;&nbsp; 5228327 |
| Guidewire Software, Inc. (a) | 21824 | &nbsp;&nbsp; 4713548 |
| Microsoft Corp. | 106898 | &nbsp;&nbsp; 52594885 |
| Okta, Inc. (a) | 58019 | &nbsp;&nbsp; 4660666 |
| Oracle Corp. | 2026 | &nbsp;&nbsp; 409151 |
| Palantir Technologies, Inc. (a) | 3547 | &nbsp;&nbsp; 597492 |
| Pegasystems, Inc. | 34933 | &nbsp;&nbsp; 1913280 |
| Salesforce, Inc. | 10972 | &nbsp;&nbsp; 2529485 |
|  |  | &nbsp;&nbsp; $85037737 |
| Computer Software - Systems – 12.2% | Computer Software - Systems – 12.2% |  |
| Apple, Inc. | 202821 | &nbsp;&nbsp; $56556636 |
| Arista Networks, Inc. (a) | 51127 | &nbsp;&nbsp; 6681276 |
|  |  | &nbsp;&nbsp; $63237912 |

---

BRWFS-SEM

------

MFS Blended Research Growth Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Consumer Products – 1.0% | Consumer Products – 1.0% |  |
| Colgate-Palmolive Co. | 43911 | &nbsp;&nbsp; $3530005 |
| Kimberly-Clark Corp. | 13461 | &nbsp;&nbsp; 1468865 |
|  |  | &nbsp;&nbsp; $4998870 |
| Consumer Services – 1.3% | Consumer Services – 1.3% |  |
| Booking Holdings, Inc. | 1014 | &nbsp;&nbsp; $4983496 |
| Uber Technologies, Inc. (a) | 16596 | &nbsp;&nbsp; 1452814 |
|  |  | &nbsp;&nbsp; $6436310 |
| Electrical Equipment – 1.3% | Electrical Equipment – 1.3% |  |
| Amphenol Corp., "A" | 36804 | &nbsp;&nbsp; $5185683 |
| nVent Electric PLC | 11599 | &nbsp;&nbsp; 1244225 |
|  |  | &nbsp;&nbsp; $6429908 |
| Electronics – 21.0% | Electronics – 21.0% |  |
| Broadcom, Inc. | 65481 | &nbsp;&nbsp; $26386224 |
| KLA Corp. | 2091 | &nbsp;&nbsp; 2457908 |
| Lam Research Corp. | 69901 | &nbsp;&nbsp; 10904556 |
| NVIDIA Corp. | 390421 | &nbsp;&nbsp; 69104517 |
|  |  | &nbsp;&nbsp; $108853205 |
| Energy - Independent – 0.3% | Energy - Independent – 0.3% |  |
| Phillips 66 | 12370 | &nbsp;&nbsp; $1694195 |
| Energy - Renewables – 0.2% | Energy - Renewables – 0.2% |  |
| AES Corp. | 85970 | &nbsp;&nbsp; $1208738 |
| Engineering - Construction – 0.2% | Engineering - Construction – 0.2% |  |
| Primoris Services Corp. | 9290 | &nbsp;&nbsp; $1175742 |
| Entertainment – 0.3% | Entertainment – 0.3% |  |
| Lamar Advertising Co., REIT | 13017 | &nbsp;&nbsp; $1723321 |
| Food & Beverages – 0.1% | Food & Beverages – 0.1% |  |
| Monster Worldwide, Inc. (a) | 8900 | &nbsp;&nbsp; $667411 |
| Gaming & Lodging – 1.1% | Gaming & Lodging – 1.1% |  |
| Viking Holdings Ltd. (a) | 84932 | &nbsp;&nbsp; $5671759 |
| Health Maintenance Organizations – 0.8% | Health Maintenance Organizations – 0.8% |  |
| Humana, Inc. | 16790 | &nbsp;&nbsp; $4126478 |
| Insurance – 1.9% | Insurance – 1.9% |  |
| Ameriprise Financial, Inc. | 10541 | &nbsp;&nbsp; $4803955 |
| Equitable Holdings, Inc. | 109200 | &nbsp;&nbsp; 5098548 |
|  |  | &nbsp;&nbsp; $9902503 |
| Interactive Media Services – 9.8% | Interactive Media Services – 9.8% |  |
| Alphabet, Inc., "A" | 46284 | &nbsp;&nbsp; $14819211 |
| Alphabet, Inc., "C" | 42147 | &nbsp;&nbsp; 13492097 |
| Meta Platforms, Inc., "A" | 34306 | &nbsp;&nbsp; 22228573 |
|  |  | &nbsp;&nbsp; $50539881 |

---

------

MFS Blended Research Growth Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Leisure & Toys – 0.9% | Leisure & Toys – 0.9% |  |
| Roblox Corp., "A" (a) | 46424 | &nbsp;&nbsp; $4411673 |
| Machinery & Tools – 0.5% | Machinery & Tools – 0.5% |  |
| Flowserve Corp. | 17654 | &nbsp;&nbsp; $1259613 |
| Wabtec Corp. | 5745 | &nbsp;&nbsp; 1198120 |
|  |  | &nbsp;&nbsp; $2457733 |
| Medical & Health Technology & Services – 2.9% | Medical & Health Technology & Services – 2.9% |  |
| IQVIA Holdings, Inc. (a) | 18554 | &nbsp;&nbsp; $4267606 |
| McKesson Corp. | 6871 | &nbsp;&nbsp; 6054175 |
| Veeva Systems, Inc. (a) | 20180 | &nbsp;&nbsp; 4849052 |
|  |  | &nbsp;&nbsp; $15170833 |
| Medical Equipment – 0.1% | Medical Equipment – 0.1% |  |
| DexCom, Inc. (a) | 8442 | &nbsp;&nbsp; $535814 |
| Other Banks & Diversified Financials – 4.0% | Other Banks & Diversified Financials – 4.0% |  |
| Mastercard, Inc., "A" | 12748 | &nbsp;&nbsp; $7018156 |
| Northern Trust Corp. | 41915 | &nbsp;&nbsp; 5505116 |
| Popular, Inc. | 33659 | &nbsp;&nbsp; 3861024 |
| Visa, Inc., "A" | 13279 | &nbsp;&nbsp; 4441029 |
|  |  | &nbsp;&nbsp; $20825325 |
| Pharmaceuticals – 2.9% | Pharmaceuticals – 2.9% |  |
| AbbVie, Inc. | 8224 | &nbsp;&nbsp; $1872605 |
| Bristol-Myers Squibb Co. | 66863 | &nbsp;&nbsp; 3289659 |
| Eli Lilly & Co. | 6023 | &nbsp;&nbsp; 6477556 |
| Incyte Corp. (a) | 17806 | &nbsp;&nbsp; 1860015 |
| Pfizer, Inc. | 65413 | &nbsp;&nbsp; 1683731 |
|  |  | &nbsp;&nbsp; $15183566 |
| Specialty Stores – 7.2% | Specialty Stores – 7.2% |  |
| Amazon.com, Inc. (a) | 105000 | &nbsp;&nbsp; $24488100 |
| Costco Wholesale Corp. | 1706 | &nbsp;&nbsp; 1558585 |
| O'Reilly Automotive, Inc. (a) | 60915 | &nbsp;&nbsp; 6195055 |
| Tapestry, Inc. | 46200 | &nbsp;&nbsp; 5048736 |
|  |  | &nbsp;&nbsp; $37290476 |
| Utilities - Electric Power – 0.9% | Utilities - Electric Power – 0.9% |  |
| NRG Energy, Inc. | 28086 | &nbsp;&nbsp; $4760296 |
| **Total Common Stocks (Identified Cost, $268,357,790)** |  | &nbsp;&nbsp; **$511385601** |
| Mutual Funds (h) – 1.2% | Mutual Funds (h) – 1.2% | Mutual Funds (h) – 1.2% |
| Money Market Funds – 1.2% | Money Market Funds – 1.2% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) (Identified Cost, $6,384,708) | 6384228 | &nbsp;&nbsp; $6385505 |
| Other Assets, Less Liabilities – 0.1% |  | &nbsp;&nbsp; 304312 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$518075418** |

---

------

MFS Blended Research Growth Equity Fund

*Portfolio of Investments (unaudited) – continued*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $6,385,505 and $511,385,601, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

The following abbreviations are used in this report and are defined: <br> REIT Real Estate Investment Trust

**See Notes to Financial Statements**

------

MFS Blended Research Growth Equity Fund

**Financial Statements** \| **Statement of Assets and Liabilities**

This statement represents your fund's balance sheet, which details the assets and liabilities comprising the total value of the fund.

---

| | |
|:---|:---|
| **At 11/30/25 (unaudited)**<br> **Assets**<br>|  |
| Investments in unaffiliated issuers, at value (identified cost, $268,357,790) | &nbsp;&nbsp; $511385601 |
| Investments in affiliated issuers, at value (identified cost, $6,384,708) | &nbsp;&nbsp; 6385505 |
| Receivables for |  |
| Fund shares sold | &nbsp;&nbsp; 497946 |
| Dividends | &nbsp;&nbsp; 193771 |
| Other assets | &nbsp;&nbsp; 42861 |
| Total assets | &nbsp;&nbsp; $518505684 |
| **Liabilities** |  |
| Payables for |  |
| Fund shares reacquired | &nbsp;&nbsp; $299104 |
| Payable to affiliates |  |
| Investment adviser | &nbsp;&nbsp; 20211 |
| Administrative services fee | &nbsp;&nbsp; 1043 |
| Shareholder servicing costs | &nbsp;&nbsp; 53086 |
| Distribution and service fees | &nbsp;&nbsp; 6071 |
| Payable for independent Trustees' compensation | &nbsp;&nbsp; 56 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 50695 |
| Total liabilities | &nbsp;&nbsp; $430266 |
| Net assets | &nbsp;&nbsp; $518075418 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $241266242 |
| Total distributable earnings (loss) | &nbsp;&nbsp; 276809176 |
| Net assets | &nbsp;&nbsp; $518075418 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 17637781 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | &nbsp;&nbsp; **Shares** <br>**outstanding**<br>| &nbsp;&nbsp; **Net asset value** <br>**per share (a)**<br>|
| Class A | &nbsp;&nbsp;&nbsp; $152862828 | &nbsp;&nbsp;&nbsp; 5253677 | &nbsp;&nbsp;&nbsp; $29.10 |
| Class B | &nbsp;&nbsp;&nbsp; 557386 | &nbsp;&nbsp;&nbsp; 20250 | &nbsp;&nbsp;&nbsp;&nbsp;27.52 |
| Class C | &nbsp;&nbsp;&nbsp; 4210590 | &nbsp;&nbsp;&nbsp; 153238 | &nbsp;&nbsp;&nbsp;&nbsp;27.48 |
| Class I | &nbsp;&nbsp;&nbsp; 154783395 | &nbsp;&nbsp;&nbsp; 5250882 | &nbsp;&nbsp;&nbsp;&nbsp;29.48 |
| Class R1 | &nbsp;&nbsp;&nbsp; 989833 | &nbsp;&nbsp;&nbsp; 35966 | &nbsp;&nbsp;&nbsp;&nbsp;27.52 |
| Class R2 | &nbsp;&nbsp;&nbsp; 662535 | &nbsp;&nbsp;&nbsp; 22847 | &nbsp;&nbsp;&nbsp;&nbsp;29.00 |
| Class R3 | &nbsp;&nbsp;&nbsp; 1346034 | &nbsp;&nbsp;&nbsp; 45950 | &nbsp;&nbsp;&nbsp;&nbsp;29.29 |
| Class R4 | &nbsp;&nbsp;&nbsp; 230507 | &nbsp;&nbsp;&nbsp; 7806 | &nbsp;&nbsp;&nbsp;&nbsp;29.53 |
| Class R6 | &nbsp;&nbsp;&nbsp; 202432310 | &nbsp;&nbsp;&nbsp; 6847165 | &nbsp;&nbsp;&nbsp;&nbsp;29.56 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Maximum offering price per share was equal to the net asset value per share for all
 share classes, except for Class A, for which the maximum offering price per share was $30.88 [100 / 94.25 x $29.10]. On sales of $50,000 or
 more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class
 A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and
 R6.

**See Notes to Financial Statements**

------

MFS Blended Research Growth Equity Fund

**Financial Statements** \| **Statement of Operations**

This statement describes how much your fund earned in investment income and accrued in expenses. It also describes any gains and/or losses generated by fund operations.

---

| | |
|:---|:---|
| **Six months ended 11/30/25 (unaudited)**<br> **Net investment income (loss)**<br>|  |
| Income |  |
| Dividends from unaffiliated issuers | &nbsp;&nbsp; $1386485 |
| Dividends from affiliated issuers | &nbsp;&nbsp; 75929 |
| Other | &nbsp;&nbsp; 4044 |
| Foreign taxes withheld | &nbsp;&nbsp; (2189)<br>|
| Total investment income | &nbsp;&nbsp; $1464269 |
| Expenses |  |
| Management fee | &nbsp;&nbsp; $801188 |
| Distribution and service fees | &nbsp;&nbsp; 202443 |
| Shareholder servicing costs | &nbsp;&nbsp; 111161 |
| Administrative services fee | &nbsp;&nbsp; 34865 |
| Independent Trustees' compensation | &nbsp;&nbsp; 5542 |
| Custodian fee | &nbsp;&nbsp; 12193 |
| Shareholder communications | &nbsp;&nbsp; 6679 |
| Audit and tax fees | &nbsp;&nbsp; 36022 |
| Legal fees | &nbsp;&nbsp; 976 |
| Registration fees | &nbsp;&nbsp; 74169 |
| Miscellaneous | &nbsp;&nbsp; 19497 |
| Total expenses | &nbsp;&nbsp; $1304735 |
| Reduction of expenses by investment adviser and distributor | &nbsp;&nbsp; (114444)<br>|
| Net expenses | &nbsp;&nbsp; $1190291 |
| Net investment income (loss) | &nbsp;&nbsp; $273978 |
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Unaffiliated issuers | &nbsp;&nbsp; $24038709 |
| Affiliated issuers | &nbsp;&nbsp; (164)<br>|
| Net realized gain (loss) | &nbsp;&nbsp; $24038545 |
| Change in unrealized appreciation or depreciation |  |
| Unaffiliated issuers | &nbsp;&nbsp; $49653683 |
| Affiliated issuers | &nbsp;&nbsp; 797 |
| Net unrealized gain (loss) | &nbsp;&nbsp; $49654480 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $73693025 |
| Change in net assets from operations | &nbsp;&nbsp; $73967003 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Growth Equity Fund

**Financial Statements** \| **Statements of Changes in Net Assets**

These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions.

---

| | | |
|:---|:---|:---|
|  | **Six months ended** | **Year ended** |
|  | <br>**11/30/25** <br>**(unaudited)**<br>| <br>**5/31/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $273978 | &nbsp;&nbsp; $813781 |
| Net realized gain (loss) | 24038545 | &nbsp;&nbsp; 25409582 |
| Net unrealized gain (loss) | 49654480 | &nbsp;&nbsp; 30803276 |
| Change in net assets from operations | $73967003 | &nbsp;&nbsp; $57026639 |
| Total distributions to shareholders | $— | &nbsp;&nbsp; $(18266705)<br>|
| Change in net assets from fund share transactions | $15004478 | &nbsp;&nbsp; $51538250 |
| Total change in net assets | $88971481 | &nbsp;&nbsp; $90298184 |
| **Net assets** |  |  |
| At beginning of period | 429103937 | &nbsp;&nbsp; 338805753 |
| At end of period | $518075418 | &nbsp;&nbsp; $429103937 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Growth Equity Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years. Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class A**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $24.68 | &nbsp;&nbsp; $22.33 | &nbsp;&nbsp; $16.25 | &nbsp;&nbsp; $15.89 | &nbsp;&nbsp; $20.10 | &nbsp;&nbsp; $15.79 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.01)<br>| &nbsp;&nbsp; $0.00<br> (w)<br>| &nbsp;&nbsp; $0.00<br> (w)<br>| &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $0.01 | &nbsp;&nbsp; $0.02 |
| Net realized and unrealized gain (loss) | 4.43 | &nbsp;&nbsp;&nbsp;&nbsp;3.54 | &nbsp;&nbsp;&nbsp;&nbsp;6.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp; (0.76)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.50 |
| Total from investment operations | $4.42 | &nbsp;&nbsp; $3.54 | &nbsp;&nbsp; $6.19 | &nbsp;&nbsp; $0.69 | &nbsp;&nbsp; $(0.75)<br>| &nbsp;&nbsp; $5.52 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.05)<br>| &nbsp;&nbsp; $(0.11)<br>| &nbsp;&nbsp; $(0.00)(w)<br>| $— | &nbsp;&nbsp; $(0.04)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.14)<br>|  | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (3.46)<br>| &nbsp;&nbsp; (1.17)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.19)<br>| &nbsp;&nbsp; $(0.11)<br>| &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(3.46)<br>| &nbsp;&nbsp; $(1.21)<br>|
| Net asset value, end of period (x) | $29.10 | &nbsp;&nbsp; $24.68 | &nbsp;&nbsp; $22.33 | &nbsp;&nbsp; $16.25 | &nbsp;&nbsp; $15.89 | &nbsp;&nbsp; $20.10 |
| Total return (%) (r)(s)(t)(x) | 17.91<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.64 | &nbsp;&nbsp;&nbsp;&nbsp;38.18 | &nbsp;&nbsp;&nbsp;&nbsp;4.54 | &nbsp;&nbsp; (6.92)<br>| &nbsp;&nbsp;&nbsp;&nbsp;35.89 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.75<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 |
| Expenses after expense reductions | 0.70<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 |
| Net investment income (loss) | (0.08)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.00<br> (w)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.50 | &nbsp;&nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.08 |
| Portfolio turnover rate | 31<br> (n)<br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 71 |
| Net assets at end of period (000 omitted) | $152863 | &nbsp;&nbsp; $118765 | &nbsp;&nbsp; $72063 | &nbsp;&nbsp; $19925 | &nbsp;&nbsp; $15472 | &nbsp;&nbsp; $71049 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Growth Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class B**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $23.43 | &nbsp;&nbsp; $21.37 | &nbsp;&nbsp; $15.59 | &nbsp;&nbsp; $15.37 | &nbsp;&nbsp; $19.67 | &nbsp;&nbsp; $15.55 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.11)<br>| &nbsp;&nbsp; $(0.17)<br>| &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.04)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.12)<br>|
| Net realized and unrealized gain (loss) | 4.20 | &nbsp;&nbsp;&nbsp;&nbsp;3.37 | &nbsp;&nbsp;&nbsp;&nbsp;5.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp; (0.70)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.41 |
| Total from investment operations | $4.09 | &nbsp;&nbsp; $3.20 | &nbsp;&nbsp; $5.79 | &nbsp;&nbsp; $0.55 | &nbsp;&nbsp; $(0.84)<br>| &nbsp;&nbsp; $5.29 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | $— | &nbsp;&nbsp; $(0.01)<br>| $— | $— | $— |
| From net realized gain |  | &nbsp;&nbsp; (1.14)<br>|  | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (3.46)<br>| &nbsp;&nbsp; (1.17)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.14)<br>| &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(3.46)<br>| &nbsp;&nbsp; $(1.17)<br>|
| Net asset value, end of period (x) | $27.52 | &nbsp;&nbsp; $23.43 | &nbsp;&nbsp; $21.37 | &nbsp;&nbsp; $15.59 | &nbsp;&nbsp; $15.37 | &nbsp;&nbsp; $19.67 |
| Total return (%) (r)(s)(t)(x) | 17.46<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.76 | &nbsp;&nbsp;&nbsp;&nbsp;37.14 | &nbsp;&nbsp;&nbsp;&nbsp;3.77 | &nbsp;&nbsp; (7.58)<br>| &nbsp;&nbsp;&nbsp;&nbsp;34.89 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.51<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.62 | &nbsp;&nbsp;&nbsp;&nbsp;1.63 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 |
| Expenses after expense reductions | 1.46<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 |
| Net investment income (loss) | (0.82)(a)<br>| &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.67)<br>|
| Portfolio turnover rate | 31<br> (n)<br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 71 |
| Net assets at end of period (000 omitted) | $557 | &nbsp;&nbsp; $514 | &nbsp;&nbsp; $854 | &nbsp;&nbsp; $478 | &nbsp;&nbsp; $467 | &nbsp;&nbsp; $550 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class C**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $23.39 | &nbsp;&nbsp; $21.34 | &nbsp;&nbsp; $15.58 | &nbsp;&nbsp; $15.36 | &nbsp;&nbsp; $19.66 | &nbsp;&nbsp; $15.54 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.11)<br>| &nbsp;&nbsp; $(0.17)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.04)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.12)<br>|
| Net realized and unrealized gain (loss) | 4.20 | &nbsp;&nbsp;&nbsp;&nbsp;3.36 | &nbsp;&nbsp;&nbsp;&nbsp;5.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp; (0.70)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.41 |
| Total from investment operations | $4.09 | &nbsp;&nbsp; $3.19 | &nbsp;&nbsp; $5.79 | &nbsp;&nbsp; $0.55 | &nbsp;&nbsp; $(0.84)<br>| &nbsp;&nbsp; $5.29 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | $— | &nbsp;&nbsp; $(0.03)<br>| $— | $— | $— |
| From net realized gain |  | &nbsp;&nbsp; (1.14)<br>|  | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (3.46)<br>| &nbsp;&nbsp; (1.17)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.14)<br>| &nbsp;&nbsp; $(0.03)<br>| &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(3.46)<br>| &nbsp;&nbsp; $(1.17)<br>|
| Net asset value, end of period (x) | $27.48 | &nbsp;&nbsp; $23.39 | &nbsp;&nbsp; $21.34 | &nbsp;&nbsp; $15.58 | &nbsp;&nbsp; $15.36 | &nbsp;&nbsp; $19.66 |
| Total return (%) (r)(s)(t)(x) | 17.49<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.73 | &nbsp;&nbsp;&nbsp;&nbsp;37.16 | &nbsp;&nbsp;&nbsp;&nbsp;3.77 | &nbsp;&nbsp; (7.58)<br>| &nbsp;&nbsp;&nbsp;&nbsp;34.91 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.50<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.62 | &nbsp;&nbsp;&nbsp;&nbsp;1.63 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 |
| Expenses after expense reductions | 1.45<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 |
| Net investment income (loss) | (0.82)(a)<br>| &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (0.67)<br>|
| Portfolio turnover rate | 31<br> (n)<br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 71 |
| Net assets at end of period (000 omitted) | $4211 | &nbsp;&nbsp; $3466 | &nbsp;&nbsp; $2067 | &nbsp;&nbsp; $1056 | &nbsp;&nbsp; $874 | &nbsp;&nbsp; $859 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Growth Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class I**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $24.97 | &nbsp;&nbsp; $22.57 | &nbsp;&nbsp; $16.39 | &nbsp;&nbsp; $16.00 | &nbsp;&nbsp; $20.21 | &nbsp;&nbsp; $15.87 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.03 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.05 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.05 | &nbsp;&nbsp; $0.06 |
| Net realized and unrealized gain (loss) | 4.48 | &nbsp;&nbsp;&nbsp;&nbsp;3.57 | &nbsp;&nbsp;&nbsp;&nbsp;6.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp; (0.75)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.54 |
| Total from investment operations | $4.51 | &nbsp;&nbsp; $3.63 | &nbsp;&nbsp; $6.30 | &nbsp;&nbsp; $0.74 | &nbsp;&nbsp; $(0.70)<br>| &nbsp;&nbsp; $5.60 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.12)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.05)<br>| &nbsp;&nbsp; $(0.09)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.14)<br>|  | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (3.46)<br>| &nbsp;&nbsp; (1.17)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.23)<br>| &nbsp;&nbsp; $(0.12)<br>| &nbsp;&nbsp; $(0.35)<br>| &nbsp;&nbsp; $(3.51)<br>| &nbsp;&nbsp; $(1.26)<br>|
| Net asset value, end of period (x) | $29.48 | &nbsp;&nbsp; $24.97 | &nbsp;&nbsp; $22.57 | &nbsp;&nbsp; $16.39 | &nbsp;&nbsp; $16.00 | &nbsp;&nbsp; $20.21 |
| Total return (%) (r)(s)(t)(x) | 18.06<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.90 | &nbsp;&nbsp;&nbsp;&nbsp;38.56 | &nbsp;&nbsp;&nbsp;&nbsp;4.81 | &nbsp;&nbsp; (6.66)<br>| &nbsp;&nbsp;&nbsp;&nbsp;36.23 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.50<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 |
| Expenses after expense reductions | 0.45<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 |
| Net investment income (loss) | 0.18<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.33 |
| Portfolio turnover rate | 31<br> (n)<br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 71 |
| Net assets at end of period (000 omitted) | $154783 | &nbsp;&nbsp; $101949 | &nbsp;&nbsp; $67182 | &nbsp;&nbsp; $54445 | &nbsp;&nbsp; $53045 | &nbsp;&nbsp; $4866 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R1**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $23.43 | &nbsp;&nbsp; $21.37 | &nbsp;&nbsp; $15.58 | &nbsp;&nbsp; $15.36 | &nbsp;&nbsp; $19.66 | &nbsp;&nbsp; $15.54 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.11)<br>| &nbsp;&nbsp; $(0.17)<br>| &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.03)<br>| &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.12)<br>|
| Net realized and unrealized gain (loss) | 4.20 | &nbsp;&nbsp;&nbsp;&nbsp;3.37 | &nbsp;&nbsp;&nbsp;&nbsp;5.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp; (0.71)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.41 |
| Total from investment operations | $4.09 | &nbsp;&nbsp; $3.20 | &nbsp;&nbsp; $5.79 | &nbsp;&nbsp; $0.55 | &nbsp;&nbsp; $(0.84)<br>| &nbsp;&nbsp; $5.29 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | $— | $— | $— | $— | $— |
| From net realized gain |  | &nbsp;&nbsp; (1.14)<br>|  | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (3.46)<br>| &nbsp;&nbsp; (1.17)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.14)<br>| $— | &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(3.46)<br>| &nbsp;&nbsp; $(1.17)<br>|
| Net asset value, end of period (x) | $27.52 | &nbsp;&nbsp; $23.43 | &nbsp;&nbsp; $21.37 | &nbsp;&nbsp; $15.58 | &nbsp;&nbsp; $15.36 | &nbsp;&nbsp; $19.66 |
| Total return (%) (r)(s)(t)(x) | 17.46<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.76 | &nbsp;&nbsp;&nbsp;&nbsp;37.16 | &nbsp;&nbsp;&nbsp;&nbsp;3.77 | &nbsp;&nbsp; (7.58)<br>| &nbsp;&nbsp;&nbsp;&nbsp;34.91 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.51<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.62 | &nbsp;&nbsp;&nbsp;&nbsp;1.63 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 |
| Expenses after expense reductions | 1.46<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 |
| Net investment income (loss) | (0.83)(a)<br>| &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (0.70)<br>| &nbsp;&nbsp; (0.67)<br>|
| Portfolio turnover rate | 31<br> (n)<br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 71 |
| Net assets at end of period (000 omitted) | $990 | &nbsp;&nbsp; $840 | &nbsp;&nbsp; $1144 | &nbsp;&nbsp; $918 | &nbsp;&nbsp; $495 | &nbsp;&nbsp; $320 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Growth Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R2**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $24.62 | &nbsp;&nbsp; $22.30 | &nbsp;&nbsp; $16.23 | &nbsp;&nbsp; $15.91 | &nbsp;&nbsp; $20.15 | &nbsp;&nbsp; $15.84 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.05)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.04)<br>| &nbsp;&nbsp; $0.04 | &nbsp;&nbsp; $(0.04)<br>| &nbsp;&nbsp; $(0.03)<br>|
| Net realized and unrealized gain (loss) | 4.43 | &nbsp;&nbsp;&nbsp;&nbsp;3.52 | &nbsp;&nbsp;&nbsp;&nbsp;6.17 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.52 |
| Total from investment operations | $4.38 | &nbsp;&nbsp; $3.46 | &nbsp;&nbsp; $6.13 | &nbsp;&nbsp; $0.65 | &nbsp;&nbsp; $(0.78)<br>| &nbsp;&nbsp; $5.49 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | $— | &nbsp;&nbsp; $(0.06)<br>| $— | $— | &nbsp;&nbsp; $(0.01)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.14)<br>|  | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (3.46)<br>| &nbsp;&nbsp; (1.17)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.14)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(3.46)<br>| &nbsp;&nbsp; $(1.18)<br>|
| Net asset value, end of period (x) | $29.00 | &nbsp;&nbsp; $24.62 | &nbsp;&nbsp; $22.30 | &nbsp;&nbsp; $16.23 | &nbsp;&nbsp; $15.91 | &nbsp;&nbsp; $20.15 |
| Total return (%) (r)(s)(t)(x) | 17.79<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.32 | &nbsp;&nbsp;&nbsp;&nbsp;37.82 | &nbsp;&nbsp;&nbsp;&nbsp;4.28 | &nbsp;&nbsp; (7.07)<br>| &nbsp;&nbsp;&nbsp;&nbsp;35.52 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.00<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 |
| Expenses after expense reductions | 0.95<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 |
| Net investment income (loss) | (0.33)(a)<br>| &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.25 | &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (0.17)<br>|
| Portfolio turnover rate | 31<br> (n)<br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 71 |
| Net assets at end of period (000 omitted) | $663 | &nbsp;&nbsp; $502 | &nbsp;&nbsp; $383 | &nbsp;&nbsp; $253 | &nbsp;&nbsp; $200 | &nbsp;&nbsp; $182 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R3**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $24.84 | &nbsp;&nbsp; $22.47 | &nbsp;&nbsp; $16.33 | &nbsp;&nbsp; $15.97 | &nbsp;&nbsp; $20.17 | &nbsp;&nbsp; $15.85 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.01)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $0.00<br> (w)<br>| &nbsp;&nbsp; $0.08 | &nbsp;&nbsp; $0.00<br> (w)<br>| &nbsp;&nbsp; $0.02 |
| Net realized and unrealized gain (loss) | 4.46 | &nbsp;&nbsp;&nbsp;&nbsp;3.56 | &nbsp;&nbsp;&nbsp;&nbsp;6.23 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.52 |
| Total from investment operations | $4.45 | &nbsp;&nbsp; $3.54 | &nbsp;&nbsp; $6.23 | &nbsp;&nbsp; $0.69 | &nbsp;&nbsp; $(0.74)<br>| &nbsp;&nbsp; $5.54 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.03)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.00)(w)<br>| $— | &nbsp;&nbsp; $(0.05)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.14)<br>|  | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (3.46)<br>| &nbsp;&nbsp; (1.17)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.17)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(3.46)<br>| &nbsp;&nbsp; $(1.22)<br>|
| Net asset value, end of period (x) | $29.29 | &nbsp;&nbsp; $24.84 | &nbsp;&nbsp; $22.47 | &nbsp;&nbsp; $16.33 | &nbsp;&nbsp; $15.97 | &nbsp;&nbsp; $20.17 |
| Total return (%) (r)(s)(t)(x) | 17.91<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.58 | &nbsp;&nbsp;&nbsp;&nbsp;38.22 | &nbsp;&nbsp;&nbsp;&nbsp;4.52 | &nbsp;&nbsp; (6.85)<br>| &nbsp;&nbsp;&nbsp;&nbsp;35.85 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.76<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.85 |
| Expenses after expense reductions | 0.71<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 |
| Net investment income (loss) | (0.08)(a)<br>| &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.08 |
| Portfolio turnover rate | 31<br> (n)<br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 71 |
| Net assets at end of period (000 omitted) | $1346 | &nbsp;&nbsp; $1135 | &nbsp;&nbsp; $203 | &nbsp;&nbsp; $147 | &nbsp;&nbsp; $122 | &nbsp;&nbsp; $130 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Growth Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R4**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $25.01 | &nbsp;&nbsp; $22.60 | &nbsp;&nbsp; $16.42 | &nbsp;&nbsp; $16.03 | &nbsp;&nbsp; $20.23 | &nbsp;&nbsp; $15.87 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.02 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.05 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.05 | &nbsp;&nbsp; $0.06 |
| Net realized and unrealized gain (loss) | 4.50 | &nbsp;&nbsp;&nbsp;&nbsp;3.58 | &nbsp;&nbsp;&nbsp;&nbsp;6.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp; (0.75)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.56 |
| Total from investment operations | $4.52 | &nbsp;&nbsp; $3.64 | &nbsp;&nbsp; $6.30 | &nbsp;&nbsp; $0.74 | &nbsp;&nbsp; $(0.70)<br>| &nbsp;&nbsp; $5.62 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.12)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.04)<br>| &nbsp;&nbsp; $(0.09)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.14)<br>|  | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (3.46)<br>| &nbsp;&nbsp; (1.17)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.23)<br>| &nbsp;&nbsp; $(0.12)<br>| &nbsp;&nbsp; $(0.35)<br>| &nbsp;&nbsp; $(3.50)<br>| &nbsp;&nbsp; $(1.26)<br>|
| Net asset value, end of period (x) | $29.53 | &nbsp;&nbsp; $25.01 | &nbsp;&nbsp; $22.60 | &nbsp;&nbsp; $16.42 | &nbsp;&nbsp; $16.03 | &nbsp;&nbsp; $20.23 |
| Total return (%) (r)(s)(t)(x) | 18.07<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.92 | &nbsp;&nbsp;&nbsp;&nbsp;38.51 | &nbsp;&nbsp;&nbsp;&nbsp;4.80 | &nbsp;&nbsp; (6.64)<br>| &nbsp;&nbsp;&nbsp;&nbsp;36.34 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.50<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 |
| Expenses after expense reductions | 0.45<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 |
| Net investment income (loss) | 0.18<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.33 |
| Portfolio turnover rate | 31<br> (n)<br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 71 |
| Net assets at end of period (000 omitted) | $231 | &nbsp;&nbsp; $195 | &nbsp;&nbsp; $168 | &nbsp;&nbsp; $122 | &nbsp;&nbsp; $116 | &nbsp;&nbsp; $124 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R6**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $25.03 | &nbsp;&nbsp; $22.62 | &nbsp;&nbsp; $16.43 | &nbsp;&nbsp; $16.03 | &nbsp;&nbsp; $20.23 | &nbsp;&nbsp; $15.89 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.03 | &nbsp;&nbsp; $0.08 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.13 | &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $0.08 |
| Net realized and unrealized gain (loss) | 4.50 | &nbsp;&nbsp;&nbsp;&nbsp;3.58 | &nbsp;&nbsp;&nbsp;&nbsp;6.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp; (0.75)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.53 |
| Total from investment operations | $4.53 | &nbsp;&nbsp; $3.66 | &nbsp;&nbsp; $6.32 | &nbsp;&nbsp; $0.75 | &nbsp;&nbsp; $(0.68)<br>| &nbsp;&nbsp; $5.61 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.11)<br>| &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.10)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.14)<br>|  | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (3.46)<br>| &nbsp;&nbsp; (1.17)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(1.25)<br>| &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.35)<br>| &nbsp;&nbsp; $(3.52)<br>| &nbsp;&nbsp; $(1.27)<br>|
| Net asset value, end of period (x) | $29.56 | &nbsp;&nbsp; $25.03 | &nbsp;&nbsp; $22.62 | &nbsp;&nbsp; $16.43 | &nbsp;&nbsp; $16.03 | &nbsp;&nbsp; $20.23 |
| Total return (%) (r)(s)(t)(x) | 18.10<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.97 | &nbsp;&nbsp;&nbsp;&nbsp;38.63 | &nbsp;&nbsp;&nbsp;&nbsp;4.91 | &nbsp;&nbsp; (6.57)<br>| &nbsp;&nbsp;&nbsp;&nbsp;36.29 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.44<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;0.52 |
| Expenses after expense reductions | 0.39<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.40 |
| Net investment income (loss) | 0.24<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.42 |
| Portfolio turnover rate | 31<br> (n)<br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 71 |
| Net assets at end of period (000 omitted) | $202432 | &nbsp;&nbsp; $201737 | &nbsp;&nbsp; $194742 | &nbsp;&nbsp; $168286 | &nbsp;&nbsp; $158585 | &nbsp;&nbsp; $185568 |

---

**See Notes to Financial Statements**

------

MFS Blended Research Growth Equity Fund

*Financial Highlights - continued*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(w) Per share amount was less than $0.01 and total return or ratio was less than 0.01%,
 as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

MFS Blended Research Growth Equity Fund

**Notes to Financial Statements (unaudited)**

**(1) Business and Organization**

MFS Blended Research Growth Equity Fund (the fund) is a non-diversified series of MFS Series Trust X (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(2) Significant Accounting Policies**

**General** — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of the fund's Statement of Assets and Liabilities through the date that the financial statements were issued.

**Operating Segments** — An operating segment is defined in FASB Accounting Standards Codification Topic 280-Segment Reporting as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the entity's chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available. The fund represents a single operating segment and the Chairman's Committee of the fund's adviser acts as the segment's CODM. The fund's total returns, expense ratios, and changes in net assets which are used by the CODM to assess segment performance and to make resource allocation decisions to the segment are consistent with that presented within the fund's financial statements.

**Balance Sheet Offsetting** — The fund's accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the International Swaps and Derivatives Association (ISDA) Master Agreement, or similar agreement, does not result in an offset of reported amounts of financial assets and financial liabilities in the Statement of Assets and Liabilities across transactions between the fund and the applicable counterparty. The fund's right to setoff may be restricted or prohibited by the bankruptcy or insolvency laws of the particular jurisdiction to which a specific master netting agreement counterparty is subject. Balance sheet offsetting disclosures, to the extent applicable to the fund, have been included in the fund's Significant Accounting Policies note under the captions for each of the fund's in-scope financial instruments and transactions.

**Investment Valuations** — Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading

------

MFS Blended Research Growth Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund's net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund's foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of November 30, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities | $511385601 | $— | $— | $511385601 |
| Investment Companies | 6385505 |  |  | 6385505 |
| Total | $517771106 | $— | $— | $517771106 |

---

For further information regarding security characteristics, see the Portfolio of Investments.

**Indemnifications** — Under the fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into agreements with service providers that may contain indemnification clauses. The fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against the fund that have not yet occurred.

**Investment Transactions and Income** — Dividends received in cash are recorded on the ex-dividend date. Certain dividends from foreign securities will be recorded when the fund is informed of the dividend if such information is obtained subsequent to the ex-dividend date. Dividend payments received in additional securities are recorded on the ex-dividend date in an amount equal to the value of the security on such date.

The fund may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statement of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statement of Operations.

Investment transactions are recorded on the trade date. In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis.

**Tax Matters and Distributions** — The fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. The fund's federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for generally a three year period. Management has analyzed the fund's tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability. Foreign taxes, if any, have been accrued by the fund in the accompanying financial statements in accordance with the applicable foreign tax law. Foreign income taxes may be withheld by certain countries in which the fund invests. Additionally, capital gains realized by the fund on securities issued in or by certain foreign countries may be subject to capital gains tax imposed by those countries.

------

MFS Blended Research Growth Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.

Book/tax differences primarily relate to wash sale loss deferrals and treating a portion of the proceeds from redemptions as a distribution for tax purposes.

The tax character of distributions declared to shareholders for the last fiscal year is as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**5/31/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $4715175 |
| Long-term capital gains | &nbsp;&nbsp; 13551530 |
| Total distributions | &nbsp;&nbsp; $18266705 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

---

| | |
|:---|:---|
| **As of 11/30/25** |  |
| Cost of investments | &nbsp;&nbsp; $277182994 |
| Gross appreciation | &nbsp;&nbsp; 246995427 |
| Gross depreciation | &nbsp;&nbsp; (6407315)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $240588112 |
| **As of 5/31/25** |  |
| Undistributed ordinary income | &nbsp;&nbsp; 4110478 |
| Undistributed long-term capital gain | &nbsp;&nbsp; 7798063 |
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; 190933632 |

---

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

**Multiple Classes of Shares of Beneficial Interest** — The fund offers multiple classes of shares, which differ in their respective distribution and service fees. The fund's income, realized and unrealized gain (loss), and common expenses are allocated to shareholders based on the daily net assets of each class. Dividends are declared separately for each class. Differences in per share dividend rates are generally due to differences in separate class expenses. Class B and Class C shares will convert to Class A shares approximately eight years after purchase. The fund's distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months** <br>**ended** <br>**11/30/25**<br>| **Year** <br>**ended** <br>**5/31/25**<br>|
| Class A | $— | &nbsp;&nbsp; $4890778 |
| Class B |  | &nbsp;&nbsp; 40569 |
| Class C |  | &nbsp;&nbsp; 136161 |
| Class I |  | &nbsp;&nbsp; 3952537 |
| Class R1 |  | &nbsp;&nbsp; 58364 |
| Class R2 |  | &nbsp;&nbsp; 20600 |
| Class R3 |  | &nbsp;&nbsp; 10696 |
| Class R4 |  | &nbsp;&nbsp; 9192 |
| Class R6 |  | &nbsp;&nbsp; 9147808 |
| Total | $— | &nbsp;&nbsp; $18266705 |

---

**(3) Transactions with Affiliates**

**Investment Adviser** — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. For the period from June 1, 2025 through September 30, 2025, the management fee was computed daily and paid monthly at the following annual rates based on the fund's average daily net assets:

------

MFS Blended Research Growth Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | |
|:---|:---|
| Up to $1 billion | 0.40% |
| In excess of $1 billion and up to $2.5 billion | 0.375% |
| In excess of $2.5 billion | 0.35% |

---

Effective October 1, 2025, the management fee is computed daily and paid monthly at the following annual rates based on the fund's average daily net assets:

---

| | |
|:---|:---|
| Up to $5 billion | 0.25% |
| In excess of 5 billion | 0.225% |

---

MFS has agreed in writing to reduce its management fee by a specified amount if certain MFS mutual fund assets exceed thresholds agreed to by MFS and the fund's Board of Trustees. MFS has also agreed in writing to waive at least 0.01% of its management fee as part of this agreement. The agreement to waive at least 0.01% of the management fee will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this management fee reduction amounted to $32,121, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.33% of the fund's average daily net assets.

For the period from June 1, 2025 through September 30, 2025, the investment adviser had agreed in writing to pay a portion of the fund's total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses did not exceed the following rates annually of each class's average daily net assets:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **Classes** |  |  |  |  |
| **A** | **B** | **C** | **I** | **R1** | **R2** | **R3** | **R4** | **R6** |
| 0.74% | 1.49% | 1.49% | 0.49% | 1.49% | 0.99% | 0.74% | 0.49% | 0.43% |

---

This written agreement terminated on September 30, 2025. For the period from June 1, 2025 through September 30, 2025, this reduction amounted to $81,834, which is included in the reduction of total expenses in the Statement of Operations.

Effective October 1, 2025, the investment adviser has agreed in writing to pay a portion of the fund's total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses do not exceed the following rates annually of each class's average daily net assets:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **Classes** |  |  |  |  |
| **A** | **B** | **C** | **I** | **R1** | **R2** | **R3** | **R4** | **R6** |
| 0.64% | 1.39% | 1.39% | 0.39% | 1.39% | 0.89% | 0.64% | 0.39% | 0.33% |

---

This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the period from October 1, 2025 through November 30, 2025, this reduction amounted to $479, which is included in the reduction of total expenses in the Statement of Operations.

**Distributor** — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received $14,341 for the six months ended November 30, 2025, as its portion of the initial sales charge on sales of Class A shares of the fund.

The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.

The fund's distribution plan provides that the fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries. The distribution and service fees are computed daily and paid monthly.

------

MFS Blended Research Growth Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

**Distribution Plan Fee Table:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| Class A |  | 0.25% | 0.25% | 0.25% | $172380 |
| Class B | 0.75% | 0.25% | 1.00% | 1.00% | 2794 |
| Class C | 0.75% | 0.25% | 1.00% | 1.00% | 19464 |
| Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 4719 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 1486 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 1600 |
| Total Distribution and Service Fees  |  |  |  |  | $202443 |

---

(d) In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each

class's average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting

period. Any rate changes, if applicable, are detailed below.

(e) The annual effective rates represent actual fees incurred under the distribution plan for the six months ended November 30, 2025 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended November 30, 2025, this rebate amounted to $10 for Class A shares and is included in the reduction of total expenses in the Statement of Operations.

Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class B shares are subject to a CDSC in the event of a shareholder redemption within six years of purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD and during the six months ended November 30, 2025, were as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| Class A | $11187 |
| Class B |  |
| Class C | 39 |

---

**Shareholder Servicing Agent** — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from the fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of the fund as determined periodically under the supervision of the fund's Board of Trustees. For the six months ended November 30, 2025, the fee was $20,763, which equated to 0.0090% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the six months ended November 30, 2025, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $90,398.

**Administrator** — MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to the fund. Under an administrative services agreement, the fund reimburses MFS the costs incurred to provide these services. The fund is charged an annual fixed amount of $17,500 plus a fee based on average daily net assets. The administrative services fee is computed daily and paid monthly. The administrative services fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.0150% of the fund's average daily net assets.

**Trustees' and Officers' Compensation** — The fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. Independent Trustees' compensation is accrued daily and paid subsequent to each Trustee Board meeting. The fund does not pay compensation directly to Trustees or officers of the fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to the fund. Certain officers and Trustees of the fund are officers or directors of MFS, MFD, and MFSC.

**Other** — The fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.

MFS purchased or redeemed fund shares on the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| 8/19/2024 | Redemption | Class A | 3 | $36 |
| 8/19/2024 | Redemption | Class C | 5968 | 72131 |
| 8/19/2024 | Redemption | Class I | 2 | 30 |

---

------

MFS Blended Research Growth Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

At November 30, 2025, MFS held 100% of the outstanding shares of Class R4.

The adviser has voluntarily undertaken to reimburse the fund from its own resources on a quarterly basis for the cost of investment research embedded in the cost of the fund's securities trades. This agreement may be rescinded at any time. For the six months ended November 30, 2025, this reimbursement amounted to $4,044, which is included in "Other" income in the Statement of Operations.

**(4) Portfolio Securities**

For the six months ended November 30, 2025, purchases and sales of investments, other than short-term obligations, aggregated $155,288,204 and $143,986,408, respectively.

**(5) Shares of Beneficial Interest** 

The fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** <br>**11/30/25** | **Six months ended** <br>**11/30/25** | **Year ended** <br>**5/31/25** | **Year ended** <br>**5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 953308 | &nbsp;&nbsp; $26600706 | &nbsp;&nbsp; 2620692 | &nbsp;&nbsp; $63759642 |
| Class B | 461 | &nbsp;&nbsp; 12547 | &nbsp;&nbsp; 7839 | &nbsp;&nbsp; 190748 |
| Class C | 15126 | &nbsp;&nbsp; 404189 | &nbsp;&nbsp; 72382 | &nbsp;&nbsp; 1665969 |
| Class I | 1961653 | &nbsp;&nbsp; 57244183 | &nbsp;&nbsp; 1770690 | &nbsp;&nbsp; 43706811 |
| Class R1 | 127 | &nbsp;&nbsp; 3283 | &nbsp;&nbsp; 1861 | &nbsp;&nbsp; 42440 |
| Class R2 | 2508 | &nbsp;&nbsp; 70485 | &nbsp;&nbsp; 4485 | &nbsp;&nbsp; 107203 |
| Class R3 | 257 | &nbsp;&nbsp; 6863 | &nbsp;&nbsp; 49371 | &nbsp;&nbsp; 1135062 |
| Class R6 | 154693 | &nbsp;&nbsp; 4387073 | &nbsp;&nbsp; 1659352 | &nbsp;&nbsp; 37677050 |
|  | 3088133 | &nbsp;&nbsp; $88729329 | &nbsp;&nbsp; 6186672 | &nbsp;&nbsp; $148284925 |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A |  | $— | &nbsp;&nbsp; 190256 | &nbsp;&nbsp; $4885764 |
| Class B |  |  | &nbsp;&nbsp; 1658 | &nbsp;&nbsp; 40569 |
| Class C |  |  | &nbsp;&nbsp; 5560 | &nbsp;&nbsp; 135766 |
| Class I |  |  | &nbsp;&nbsp; 152313 | &nbsp;&nbsp; 3952531 |
| Class R1 |  |  | &nbsp;&nbsp; 2385 | &nbsp;&nbsp; 58364 |
| Class R2 |  |  | &nbsp;&nbsp; 803 | &nbsp;&nbsp; 20600 |
| Class R3 |  |  | &nbsp;&nbsp; 414 | &nbsp;&nbsp; 10696 |
| Class R4 |  |  | &nbsp;&nbsp; 353 | &nbsp;&nbsp; 9192 |
| Class R6 |  |  | &nbsp;&nbsp; 351704 | &nbsp;&nbsp; 9147808 |
|  |  | $— | &nbsp;&nbsp; 705446 | &nbsp;&nbsp; $18261290 |
| Shares reacquired |  |  |  |  |
| Class A | (512706)<br>| &nbsp;&nbsp; $(14058164)<br>| &nbsp;&nbsp; (1224773)<br>| &nbsp;&nbsp; $(28991437)<br>|
| Class B | (2161)<br>| &nbsp;&nbsp; (57441)<br>| &nbsp;&nbsp; (27508)<br>| &nbsp;&nbsp; (640037)<br>|
| Class C | (10065)<br>| &nbsp;&nbsp; (256572)<br>| &nbsp;&nbsp; (26629)<br>| &nbsp;&nbsp; (615925)<br>|
| Class I | (794193)<br>| &nbsp;&nbsp; (21884088)<br>| &nbsp;&nbsp; (816651)<br>| &nbsp;&nbsp; (20180890)<br>|
| Class R1 | (27)<br>| &nbsp;&nbsp; (703)<br>| &nbsp;&nbsp; (21913)<br>| &nbsp;&nbsp; (488423)<br>|
| Class R2 | (37)<br>| &nbsp;&nbsp; (1035)<br>| &nbsp;&nbsp; (2063)<br>| &nbsp;&nbsp; (47211)<br>|
| Class R3 | (2)<br>| &nbsp;&nbsp; (57)<br>| &nbsp;&nbsp; (13117)<br>| &nbsp;&nbsp; (265526)<br>|
| Class R6 | (1366461)<br>| &nbsp;&nbsp; (37466791)<br>| &nbsp;&nbsp; (2561651)<br>| &nbsp;&nbsp; (63778516)<br>|
|  | (2685652)<br>| &nbsp;&nbsp; $(73724851)<br>| &nbsp;&nbsp; (4694305)<br>| &nbsp;&nbsp; $(115007965)<br>|

---

------

MFS Blended Research Growth Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **11/30/25** | **Six months ended**<br> **11/30/25** | **Year ended**<br> **5/31/25** | **Year ended**<br> **5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Net change |  |  |  |  |
| Class A | 440602 | &nbsp;&nbsp; $12542542 | &nbsp;&nbsp; 1586175 | &nbsp;&nbsp; $39653969 |
| Class B | (1700)<br>| &nbsp;&nbsp; (44894)<br>| &nbsp;&nbsp; (18011)<br>| &nbsp;&nbsp; (408720)<br>|
| Class C | 5061 | &nbsp;&nbsp; 147617 | &nbsp;&nbsp; 51313 | &nbsp;&nbsp; 1185810 |
| Class I | 1167460 | &nbsp;&nbsp; 35360095 | &nbsp;&nbsp; 1106352 | &nbsp;&nbsp; 27478452 |
| Class R1 | 100 | &nbsp;&nbsp; 2580 | &nbsp;&nbsp; (17667)<br>| &nbsp;&nbsp; (387619)<br>|
| Class R2 | 2471 | &nbsp;&nbsp; 69450 | &nbsp;&nbsp; 3225 | &nbsp;&nbsp; 80592 |
| Class R3 | 255 | &nbsp;&nbsp; 6806 | &nbsp;&nbsp; 36668 | &nbsp;&nbsp; 880232 |
| Class R4 |  |  | &nbsp;&nbsp; 353 | &nbsp;&nbsp; 9192 |
| Class R6 | (1211768)<br>| &nbsp;&nbsp; (33079718)<br>| &nbsp;&nbsp; (550595)<br>| &nbsp;&nbsp; (16953658)<br>|
|  | 402481 | &nbsp;&nbsp; $15004478 | &nbsp;&nbsp; 2197813 | &nbsp;&nbsp; $51538250 |

---

The fund is one of several mutual funds in which certain MFS funds may invest. The MFS funds do not invest in the underlying funds for the purpose of exercising management or control. At the end of the period, the MFS Lifetime 2040 Fund, the MFS Lifetime 2050 Fund, the MFS Lifetime 2045 Fund, the MFS Lifetime 2035 Fund, the MFS Lifetime 2030 Fund, the MFS Lifetime 2055 Fund, the MFS Lifetime 2060 Fund, the MFS Lifetime Income Fund, and the MFS Lifetime 2025 Fund were the owners of record of approximately 7%, 6%, 5%, 5%, 4%, 4%, 3%, 2%, and 1%, respectively, of the value of outstanding voting shares of the fund. In addition, the MFS Lifetime 2065 Fund was the owner of record of less than 1% of the value of outstanding voting shares of the fund.

Effective June 1, 2019, purchases of the fund's Class B shares were closed to new and existing investors subject to certain exceptions. Effective September 29, 2023, purchases of the fund's Class R1 and Class R2 shares were closed to new eligible investors.

**(6) Line of Credit**

The fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by the fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate) plus 0.10%, 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 12, 2026 unless extended or renewed. In addition, the fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the six months ended November 30, 2025, the fund's commitment fee and interest expense were $992 and $0, respectively, and are included in "Miscellaneous" expense in the Statement of Operations.

**(7) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the six months ended November 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Beginning** <br>**Value**<br>| **Purchases** | &nbsp;&nbsp; **Sales** <br>**Proceeds**<br>| &nbsp;&nbsp; **Realized** <br>**Gain** <br>**(Loss)**<br>| &nbsp;&nbsp; **Change in** <br>**Unrealized** <br>**Appreciation** <br> **or** <br>**Depreciation**<br>| &nbsp;&nbsp; **Ending** <br>**Value**<br>|
| MFS Institutional Money Market <br> Portfolio<br>| &nbsp;&nbsp; $2522680 | &nbsp;&nbsp; $27959663 | &nbsp;&nbsp; $24097471 | &nbsp;&nbsp; $(164)<br>| &nbsp;&nbsp; $797 | &nbsp;&nbsp; $6385505 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; $75929 | $— |

---

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Blended Research Growth Equity Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Blended Research Growth Equity Fund.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

This information is disclosed as part of the financial statements included in Item 7 above for MFS Blended Research Growth Equity Fund. See the Statement of Operations and Note 3 within the Notes to Financial Statements for more information.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

------

MFS Blended Research Growth Equity Fund

**Board Review of Investment Advisory Agreement**

**MFS Blended Research Growth Equity Fund**

The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested ("independent") Trustees, voting separately, annually approve the continuation of the Fund's investment advisory agreement with MFS. The Trustees consider matters bearing on the Fund and its advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2025 ("contract review meetings") for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Fund and the other investment companies that the Board oversees (the "MFS Funds"). The independent Trustees were assisted in their evaluation of the Fund's investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.

In connection with their deliberations regarding the continuation of the investment advisory agreement, the Trustees, including the independent Trustees, considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The investment advisory agreement for the Fund was considered separately, although the Trustees also took into account the common interests of all MFS Funds in their review. As described below, the Trustees considered the nature, quality, and extent of the various investment advisory, administrative, and shareholder services performed by MFS under the existing investment advisory agreement and other arrangements with the Fund.

In connection with their contract review meetings, the Trustees received and relied upon materials that included, among other items: (i) information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent third party, on the investment performance of the Fund for various time periods ended December 31, 2024 and the investment performance of a group of funds with substantially similar investment classifications/objectives (the "Broadridge performance universe"), (ii) information provided by Broadridge on the Fund's advisory fees and other expenses and the advisory fees and other expenses of comparable funds identified by Broadridge as well as all other funds in the same investment classification/category (the "Broadridge expense group and universe"), (iii) information provided by MFS on the advisory fees of portfolios of other clients of MFS, including institutional separate accounts and other clients, (iv) information as to whether and to what extent applicable expense waivers, reimbursements or fee "breakpoints" are observed for the Fund, (v) information regarding MFS' financial results and financial condition, including MFS' and certain of its affiliates' estimated profitability from services performed for the Fund and the MFS Funds as a whole, and compared to MFS' institutional business, (vi) MFS' views regarding the outlook for the mutual fund industry and the strategic business plans of MFS, (vii) descriptions of various functions performed by MFS for the Funds, such as compliance monitoring and portfolio trading practices, and (viii) information regarding the overall organization of MFS, including information about MFS' senior management and other personnel providing investment advisory, administrative and other services to the Fund and the other MFS Funds. The comparative performance, fee and expense information prepared and provided by Broadridge was not independently verified and the independent Trustees did not independently verify any information provided to them by MFS.

The Trustees' conclusion as to the continuation of the investment advisory agreement was based on a comprehensive consideration of all information provided to the Trustees and not the result of any single factor. Some of the factors that figured particularly in the Trustees' deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. It is also important to recognize that the fee arrangements for the Fund and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees' conclusions may be based, in part, on their consideration of these same arrangements during the course of the year and in prior years.

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 1st quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 1st quintile for each of the one- and three-year periods ended December 31, 2024 relative to the Broadridge performance universe. Because of the passage of time, these performance results may differ from the performance results for more recent periods, including those shown elsewhere in this report.

------

MFS Blended Research Growth Equity Fund

*Board Review of Investment Advisory Agreement - continued*

In the course of their deliberations, the Trustees took into account information provided by MFS in connection with the contract review meetings, as well as during investment review meetings conducted with portfolio management personnel during the course of the year regarding the Fund's performance. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that they were satisfied with MFS' responses and efforts relating to investment performance.

In assessing the reasonableness of the Fund's advisory fee, the Trustees considered, among other information, the Fund's advisory fee and the total expense ratio of the Fund's Class I shares as a percentage of average daily net assets and the advisory fee and total expense ratios of the Broadridge expense group based on information provided by Broadridge. The Trustees considered that MFS currently observes an expense limitation for the Fund, which may not be changed without the Trustees' approval. The Trustees also considered that, according to the data provided by Broadridge (which takes into account any fee reductions or expense limitations that were in effect during the Fund's last fiscal year), the Fund's effective advisory fee rate and total expense ratio were each lower than the Broadridge expense group median. The Trustees also noted that MFS has agreed in writing to amend its contractual advisory fee rate schedule and to further reduce the Fund's expense limitation, each effective October 1, 2025, and each of which may not be changed without the Trustees' approval.

The Trustees also considered the advisory fees charged by MFS to any institutional separate accounts advised by MFS ("separate accounts") and unaffiliated investment companies for which MFS serves as subadviser ("subadvised funds") that have comparable investment strategies to the Fund, if any. In comparing these fees, the Trustees considered information provided by MFS as to the generally broader scope of services provided by MFS to the Fund, as well as the more extensive regulatory burdens imposed on MFS in managing the Fund, in comparison to separate accounts and subadvised funds. The Trustees also considered the higher demands placed on MFS' investment personnel and trading infrastructure as a result of the daily cash in-flows and out-flows of the Fund in comparison to separate accounts.

The Trustees also considered whether the Fund may benefit from any economies of scale in the management of the Fund in the event of growth in assets of the Fund and/or growth in assets of the MFS Funds as a whole. They noted that the Fund's advisory fee rate schedule is subject to contractual breakpoints that reduce the Fund's advisory fee rate on average daily net assets over $1 billion and $2.5 billion. They also noted that MFS has agreed to amend its contractual advisory fee schedule to reduce the Fund's advisory fee rate to 0.25% on assets up to $5 billion and 0.225% on assets over $5 billion (replacing the existing contractual advisory fee rate schedule), effective October 1, 2025. The Trustees also noted that MFS has agreed in writing to waive a portion of the management fees of certain MFS Funds, including the Fund, if the total combined assets of certain funds within the MFS Funds' complex increase above agreed upon thresholds (the "group fee waiver"), enabling the Fund's shareholders to share in the benefits from any economies of scale at the complex level. The group fee waiver is reviewed and renewed annually between the Board and MFS. The Trustees concluded that the breakpoint and the group fee waiver were sufficient to allow the Fund to benefit from economies of scale as its assets and overall complex assets grow.

The Trustees also considered information prepared by MFS relating to MFS' costs and profits with respect to the Fund, the MFS Funds considered as a group, and other investment companies and accounts advised by MFS, as well as MFS' methodologies used to determine and allocate its costs to the MFS Funds, the Fund and other accounts and products for purposes of estimating profitability.

After reviewing these and other factors described herein, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that the advisory fees charged to the Fund represent reasonable compensation in light of the services being provided by MFS to the Fund.

In addition, the Trustees considered MFS' resources and related efforts to continue to retain, attract and motivate capable personnel to serve the Fund. The Trustees also considered current and developing conditions in the financial services industry, including the presence of large and well-capitalized companies which are spending, and appear to be prepared to continue to spend, substantial sums to engage personnel and to provide services to competing investment companies. In this regard, the Trustees also considered the financial resources of MFS and its ultimate parent, Sun Life Financial Inc. The Trustees also considered the advantages and possible disadvantages to the Fund of having an adviser that also serves other investment companies as well as other accounts.

The Trustees also considered the nature, quality, cost, and extent of administrative, transfer agency, and distribution services provided to the Fund by MFS and its affiliates under agreements and plans other than the investment advisory agreement, including any 12b-1 fees the Fund pays to MFS Fund Distributors, Inc., an affiliate of MFS. The Trustees also considered the nature, extent and quality of certain other services MFS performs or arranges for on the Fund's behalf, which may include securities lending programs, directed expense payment programs, class action recovery programs, and MFS' interaction with third-party service providers, principally custodians and sub-custodians. The Trustees concluded that the various non-advisory services provided by MFS and its affiliates on behalf of the Fund were satisfactory.

------

MFS Blended Research Growth Equity Fund

*Board Review of Investment Advisory Agreement - continued*

The Trustees considered so-called "fall-out benefits" to MFS such as reputational value derived from serving as investment manager to the MFS Funds. The Trustees also considered that MFS discontinued its historic practice of obtaining investment research from portfolio brokerage commissions paid by certain MFS Funds effective January 2018, and directly pays or voluntarily reimburses a Fund, if applicable, for the costs of external research acquired through the use of the Fund's portfolio brokerage commissions.

Based on their evaluation of factors that they deemed to be material, including those factors described above, the Board of Trustees, including the independent Trustees, concluded that the Fund's investment advisory agreement with MFS should be continued for an additional one-year period, commencing August 1, 2025.

------

MFS Emerging Markets Equity Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS Emerging Markets Equity Fund

**Portfolio of Investments - 11/30/25 (unaudited)**

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – 98.4% | Common Stocks – 98.4% | Common Stocks – 98.4% |
| Alcoholic Beverages – 3.6% | Alcoholic Beverages – 3.6% |  |
| Ambev S.A., ADR (l) | 23951072 | &nbsp;&nbsp; $60835723 |
| China Resources Beer Holdings Co. Ltd. | 30446000 | &nbsp;&nbsp; 108710576 |
| Kweichow Moutai Co. Ltd., "A" | 805028 | &nbsp;&nbsp; 164945879 |
|  |  | &nbsp;&nbsp; $334492178 |
| Automotive – 2.3% | Automotive – 2.3% |  |
| Mahindra & Mahindra Ltd. | 2844459 | &nbsp;&nbsp; $119483337 |
| Maruti Suzuki India Ltd. | 220771 | &nbsp;&nbsp; 39243790 |
| PT Astra International Tbk | 134876200 | &nbsp;&nbsp; 53043477 |
|  |  | &nbsp;&nbsp; $211770604 |
| Biotechnology – 0.3% | Biotechnology – 0.3% |  |
| Hugel, Inc. (a) | 185382 | &nbsp;&nbsp; $28803445 |
| Brokerage & Asset Managers – 1.6% | Brokerage & Asset Managers – 1.6% |  |
| B3 S.A. - Brasil Bolsa Balcao | 51669500 | &nbsp;&nbsp; $144908041 |
| Business Services – 2.9% | Business Services – 2.9% |  |
| Infosys Ltd. | 8667767 | &nbsp;&nbsp; $151178996 |
| Tata Consultancy Services Ltd. | 3465639 | &nbsp;&nbsp; 121562284 |
|  |  | &nbsp;&nbsp; $272741280 |
| Chemicals – 0.7% | Chemicals – 0.7% |  |
| UPL Ltd. | 7891930 | &nbsp;&nbsp; $66935495 |
| Computer Software – 0.9% | Computer Software – 0.9% |  |
| Kingsoft Corp. | 22077200 | &nbsp;&nbsp; $81210795 |
| Computer Software - Systems – 8.0% | Computer Software - Systems – 8.0% |  |
| EPAM Systems, Inc. (a) | 291008 | &nbsp;&nbsp; $54418496 |
| Hon Hai Precision Industry Co. Ltd. | 23008000 | &nbsp;&nbsp; 165311582 |
| Lenovo Group Ltd. | 52882000 | &nbsp;&nbsp; 65747612 |
| Samsung Electronics Co. Ltd. | 5944347 | &nbsp;&nbsp; 406219613 |
| Xiaomi Corp., "B" (a) | 9385600 | &nbsp;&nbsp; 49448652 |
|  |  | &nbsp;&nbsp; $741145955 |
| Conglomerates – 1.1% | Conglomerates – 1.1% |  |
| KOC Holding A.S. | 9532543 | &nbsp;&nbsp; $37770189 |
| LG Corp. | 1168477 | &nbsp;&nbsp; 62609042 |
|  |  | &nbsp;&nbsp; $100379231 |
| Construction – 2.5% | Construction – 2.5% |  |
| Anhui Conch Cement Co. Ltd. | 15557000 | &nbsp;&nbsp; $46796082 |
| Midea Group Co. Ltd., "A" | 11100542 | &nbsp;&nbsp; 125223616 |
| Techtronic Industries Co. Ltd. | 5210000 | &nbsp;&nbsp; 60961109 |
|  |  | &nbsp;&nbsp; $232980807 |

---

FEMFS-SEM

------

MFS Emerging Markets Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Consumer Products – 1.2% | Consumer Products – 1.2% |  |
| Dabur India Ltd. | 7680076 | &nbsp;&nbsp; $44424621 |
| Hindustan Unilever Ltd. | 2327314 | &nbsp;&nbsp; 64177900 |
|  |  | &nbsp;&nbsp; $108602521 |
| Consumer Services – 1.3% | Consumer Services – 1.3% |  |
| MakeMyTrip Ltd. (a) | 985755 | &nbsp;&nbsp; $70373049 |
| Trip.com Group Ltd. | 795800 | &nbsp;&nbsp; 54683270 |
|  |  | &nbsp;&nbsp; $125056319 |
| Electrical Equipment – 1.2% | Electrical Equipment – 1.2% |  |
| WEG S.A. | 13445400 | &nbsp;&nbsp; $111535633 |
| Electronics – 14.3% | Electronics – 14.3% |  |
| ASE Technology Holding Co. Ltd | 24871000 | &nbsp;&nbsp; $181866959 |
| Largan Precision Co. Ltd. | 719000 | &nbsp;&nbsp; 50514418 |
| MediaTek, Inc. | 3203000 | &nbsp;&nbsp; 142366895 |
| SK hynix, Inc. | 174860 | &nbsp;&nbsp; 63016897 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 19393084 | &nbsp;&nbsp; 889789420 |
|  |  | &nbsp;&nbsp; $1327554589 |
| Energy - Independent – 3.0% | Energy - Independent – 3.0% |  |
| Bharat Petroleum Corp. Ltd. | 13684461 | &nbsp;&nbsp; $54938259 |
| PT United Tractors Tbk | 42152200 | &nbsp;&nbsp; 70865302 |
| Reliance Industries Ltd. | 8773945 | &nbsp;&nbsp; 153756771 |
|  |  | &nbsp;&nbsp; $279560332 |
| Energy - Integrated – 2.9% | Energy - Integrated – 2.9% |  |
| Galp Energia SGPS S.A., "B" | 4115929 | &nbsp;&nbsp; $82908801 |
| Petroleo Brasileiro S.A., ADR | 8728597 | &nbsp;&nbsp; 109456607 |
| Petroleo Brasileiro S.A., ADR | 3057524 | &nbsp;&nbsp; 36353960 |
| Petronet LNG Ltd. | 13996937 | &nbsp;&nbsp; 42539672 |
|  |  | &nbsp;&nbsp; $271259040 |
| Engineering - Construction – 0.4% | Engineering - Construction – 0.4% |  |
| Doosan Bobcat, Inc. | 905916 | &nbsp;&nbsp; $34003035 |
| Food & Beverages – 1.8% | Food & Beverages – 1.8% |  |
| Gruma S.A.B. de C.V. | 3407697 | &nbsp;&nbsp; $60243049 |
| Inner Mongolia Yili Industrial Group Co. Ltd., "A" | 14200027 | &nbsp;&nbsp; 58932343 |
| Orion Corp. | 724507 | &nbsp;&nbsp; 51973949 |
|  |  | &nbsp;&nbsp; $171149341 |
| Food & Drug Stores – 2.2% | Food & Drug Stores – 2.2% |  |
| BIM Birlesik Magazalar A.S. | 5047802 | &nbsp;&nbsp; $63778587 |
| Walmart de Mexico S.A.B. de C.V. | 41319416 | &nbsp;&nbsp; 139943758 |
|  |  | &nbsp;&nbsp; $203722345 |
| Gaming & Lodging – 1.0% | Gaming & Lodging – 1.0% |  |
| Sands China Ltd. | 34212800 | &nbsp;&nbsp; $93158232 |

---

------

MFS Emerging Markets Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Insurance – 4.4% | Insurance – 4.4% |  |
| AIA Group Ltd. | 8749800 | &nbsp;&nbsp; $90579501 |
| DB Insurance Co. Ltd. | 441095 | &nbsp;&nbsp; 37341534 |
| Hyundai Marine & Fire Insurance Co. Ltd. (a) | 2883743 | &nbsp;&nbsp; 58923930 |
| Ping An Insurance Co. of China Ltd., "H" | 15440500 | &nbsp;&nbsp; 112445266 |
| Samsung Fire & Marine Insurance Co. Ltd. | 330391 | &nbsp;&nbsp; 108172078 |
|  |  | &nbsp;&nbsp; $407462309 |
| Leisure & Toys – 7.5% | Leisure & Toys – 7.5% |  |
| NetEase, Inc., ADR | 687372 | &nbsp;&nbsp; $94891704 |
| Tencent Holdings Ltd. | 7661200 | &nbsp;&nbsp; 601713864 |
|  |  | &nbsp;&nbsp; $696605568 |
| Machinery & Tools – 1.1% | Machinery & Tools – 1.1% |  |
| Delta Electronics, Inc. | 3576000 | &nbsp;&nbsp; $106191875 |
| Major Banks – 2.2% | Major Banks – 2.2% |  |
| Bandhan Bank Ltd. | 23462258 | &nbsp;&nbsp; $39439729 |
| National Bank of Greece S.A. | 3579519 | &nbsp;&nbsp; 56055265 |
| Nedbank Group Ltd. | 4169706 | &nbsp;&nbsp; 62295225 |
| OTP Bank PLC | 419067 | &nbsp;&nbsp; 43585579 |
|  |  | &nbsp;&nbsp; $201375798 |
| Medical & Health Technology & Services – 0.4% | Medical & Health Technology & Services – 0.4% |  |
| Hangzhou Tigermed Consulting Co. Ltd., "A" | 5402815 | &nbsp;&nbsp; $38930338 |
| Metals & Mining – 1.7% | Metals & Mining – 1.7% |  |
| Industries Qatar Q.P.S.C. | 15933774 | &nbsp;&nbsp; $53170930 |
| Vale S.A., ADR | 8480417 | &nbsp;&nbsp; 106938058 |
|  |  | &nbsp;&nbsp; $160108988 |
| Natural Gas - Distribution – 0.5% | Natural Gas - Distribution – 0.5% |  |
| China Resources Gas Group Ltd. | 16492400 | &nbsp;&nbsp; $48338844 |
| Oil Services – 1.1% | Oil Services – 1.1% |  |
| ADNOC Drilling Co. PJSC | 47030079 | &nbsp;&nbsp; $66969060 |
| Samsung E&A Co. Ltd. | 2251291 | &nbsp;&nbsp; 39112287 |
|  |  | &nbsp;&nbsp; $106081347 |
| Other Banks & Diversified Financials – 14.6% | Other Banks & Diversified Financials – 14.6% |  |
| Bangkok Bank Public Co. Ltd. | 14029900 | &nbsp;&nbsp; $68853058 |
| Bank Negara Indonesia PT | 276311200 | &nbsp;&nbsp; 70674615 |
| China Construction Bank Corp. | 177791490 | &nbsp;&nbsp; 186564832 |
| China Merchants Bank Co. Ltd. | 22430000 | &nbsp;&nbsp; 150670323 |
| Credicorp Ltd. | 238669 | &nbsp;&nbsp; 61388053 |
| Emirates NBD Bank PJSC | 8619138 | &nbsp;&nbsp; 57259885 |
| Grupo Financiero Banorte S.A. de C.V. | 5262517 | &nbsp;&nbsp; 50313492 |
| HDFC Bank Ltd. | 21205597 | &nbsp;&nbsp; 238874866 |
| Kasikornbank PLC | 22450700 | &nbsp;&nbsp; 130052976 |
| Kotak Mahindra Bank Ltd. | 3863209 | &nbsp;&nbsp; 91752158 |
| PT Bank Central Asia Tbk | 189894700 | &nbsp;&nbsp; 94348763 |
| Saudi Awwal Bank | 7512339 | &nbsp;&nbsp; 61597395 |
| Saudi Tadawul Group Holding Co. | 942019 | &nbsp;&nbsp; 41307261 |
| Sberbank of Russia PJSC (a)(u) | 50760059 | &nbsp;&nbsp; 0 |

---

------

MFS Emerging Markets Equity Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Other Banks & Diversified Financials – continued | Other Banks & Diversified Financials – continued |  |
| State Bank of India | 4167974 | &nbsp;&nbsp; $45618341 |
|  |  | &nbsp;&nbsp; $1349276018 |
| Pharmaceuticals – 0.4% | Pharmaceuticals – 0.4% |  |
| WuXi AppTec Co. Ltd., "A" | 2774900 | &nbsp;&nbsp; $35744342 |
| Precious Metals & Minerals – 1.3% | Precious Metals & Minerals – 1.3% |  |
| Gold Fields Ltd., ADR | 2736843 | &nbsp;&nbsp; $117383196 |
| Real Estate – 0.7% | Real Estate – 0.7% |  |
| Emaar Properties PJSC | 12210684 | &nbsp;&nbsp; $44216916 |
| SM Investments Corp. | 1486580 | &nbsp;&nbsp; 18758107 |
|  |  | &nbsp;&nbsp; $62975023 |
| Specialty Stores – 5.9% | Specialty Stores – 5.9% |  |
| Alibaba Group Holding Ltd. | 15638248 | &nbsp;&nbsp; $304296870 |
| Meituan, "B" (a) | 11483400 | &nbsp;&nbsp; 151178877 |
| PDD Holdings, Inc., ADR (a) | 808756 | &nbsp;&nbsp; 93880397 |
|  |  | &nbsp;&nbsp; $549356144 |
| Telecom Services – 1.5% | Telecom Services – 1.5% |  |
| Etihad Etisalat Co. | 2777824 | &nbsp;&nbsp; $45797869 |
| Hellenic Telecommunications Organization S.A. | 2456836 | &nbsp;&nbsp; 48762296 |
| PT Telekom Indonesia | 196416500 | &nbsp;&nbsp; 41394291 |
|  |  | &nbsp;&nbsp; $135954456 |
| Tobacco – 1.2% | Tobacco – 1.2% |  |
| ITC Ltd. | 24132619 | &nbsp;&nbsp; $109065220 |
| Utilities - Electric Power – 0.7% | Utilities - Electric Power – 0.7% |  |
| NTPC Ltd. | 16887045 | &nbsp;&nbsp; $61631413 |
| **Total Common Stocks (Identified Cost, $6,607,240,554)** |  | &nbsp;&nbsp; **$9127450097** |
| Mutual Funds (h) – 1.8% | Mutual Funds (h) – 1.8% | Mutual Funds (h) – 1.8% |
| Money Market Funds – 1.8% | Money Market Funds – 1.8% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) (Identified Cost, $167,697,738) | 167682267 | &nbsp;&nbsp; $167715804 |
| Collateral for Securities Loaned – 0.1% | Collateral for Securities Loaned – 0.1% | Collateral for Securities Loaned – 0.1% |
| JPMorgan U.S. Government Money Market Fund - Class IM Shares, 3.93% (j) (Identified Cost, $10,616,925) | 10616925 | &nbsp;&nbsp; $10616925 |
| Other Assets, Less Liabilities – (0.3)% |  | &nbsp;&nbsp; (32283861) |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$9273498965** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $167,715,804 and $9,138,067,022, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(j) The rate quoted is the annualized seven-day yield of the fund at period end.

&nbsp;&nbsp;&nbsp;&nbsp;(l) A portion of this security is on loan. See Note 2 for additional information.

&nbsp;&nbsp;&nbsp;&nbsp;(u) The security was valued using significant unobservable inputs and is considered level
 3 under the fair value hierarchy. For further information about the fund's level 3 holdings, please see Note 2 in the Notes to Financial Statements.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

------

MFS Emerging Markets Equity Fund

*Portfolio of Investments (unaudited) – continued*

The following abbreviations are used in this report and are defined: <br> ADR American Depositary Receipt

**See Notes to Financial Statements**

------

MFS Emerging Markets Equity Fund

**Financial Statements** \| **Statement of Assets and Liabilities**

This statement represents your fund's balance sheet, which details the assets and liabilities comprising the total value of the fund.

---

| | |
|:---|:---|
| **At 11/30/25 (unaudited)**<br> **Assets**<br>|  |
| Investments in unaffiliated issuers, at value, including $9,806,178 of securities on loan (identified cost, $6,617,857,479) | &nbsp;&nbsp; $9138067022 |
| Investments in affiliated issuers, at value (identified cost, $167,697,738) | &nbsp;&nbsp; 167715804 |
| Foreign currency, at value (identified cost, $278,246) | &nbsp;&nbsp; 277248 |
| Receivables for |  |
| Fund shares sold | &nbsp;&nbsp; 7418971 |
| Interest and dividends | &nbsp;&nbsp; 8563733 |
| Other assets | &nbsp;&nbsp; 25573 |
| Total assets | &nbsp;&nbsp; $9322068351 |
| **Liabilities** |  |
| Payable to custodian | &nbsp;&nbsp; $1102 |
| Payables for |  |
| Investments purchased | &nbsp;&nbsp; 347519 |
| Fund shares reacquired | &nbsp;&nbsp; 664136 |
| Collateral for securities loaned, at value | &nbsp;&nbsp; 10616925 |
| Payable to affiliates |  |
| Investment adviser | &nbsp;&nbsp; 1101898 |
| Administrative services fee | &nbsp;&nbsp; 7507 |
| Shareholder servicing costs | &nbsp;&nbsp; 131598 |
| Distribution and service fees | &nbsp;&nbsp; 7953 |
| Payable for independent Trustees' compensation | &nbsp;&nbsp; 4210 |
| Deferred foreign capital gains tax expense payable | &nbsp;&nbsp; 33984049 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 1702489 |
| Total liabilities | &nbsp;&nbsp; $48569386 |
| Net assets | &nbsp;&nbsp; $9273498965 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $6932691917 |
| Total distributable earnings (loss) | &nbsp;&nbsp; 2340807048 |
| Net assets | &nbsp;&nbsp; $9273498965 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 203723964 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | &nbsp;&nbsp; **Shares** <br>**outstanding**<br>| &nbsp;&nbsp; **Net asset value** <br>**per share (a)**<br>|
| Class A | &nbsp;&nbsp;&nbsp; $202506499 | &nbsp;&nbsp;&nbsp; 4719319 | &nbsp;&nbsp;&nbsp; $42.91 |
| Class B | &nbsp;&nbsp;&nbsp; 191829 | &nbsp;&nbsp;&nbsp; 4887 | &nbsp;&nbsp;&nbsp;&nbsp;39.25 |
| Class C | &nbsp;&nbsp;&nbsp; 2499781 | &nbsp;&nbsp;&nbsp; 65700 | &nbsp;&nbsp;&nbsp;&nbsp;38.05 |
| Class I | &nbsp;&nbsp;&nbsp; 184680536 | &nbsp;&nbsp;&nbsp; 4054374 | &nbsp;&nbsp;&nbsp;&nbsp;45.55 |
| Class R1 | &nbsp;&nbsp;&nbsp; 1263627 | &nbsp;&nbsp;&nbsp; 33823 | &nbsp;&nbsp;&nbsp;&nbsp;37.36 |
| Class R2 | &nbsp;&nbsp;&nbsp; 2617703 | &nbsp;&nbsp;&nbsp; 67581 | &nbsp;&nbsp;&nbsp;&nbsp;38.73 |
| Class R3 | &nbsp;&nbsp;&nbsp; 9086735 | &nbsp;&nbsp;&nbsp; 212057 | &nbsp;&nbsp;&nbsp;&nbsp;42.85 |
| Class R4 | &nbsp;&nbsp;&nbsp; 6804731 | &nbsp;&nbsp;&nbsp; 159091 | &nbsp;&nbsp;&nbsp;&nbsp;42.77 |
| Class R6 | &nbsp;&nbsp;&nbsp; 8863847524 | &nbsp;&nbsp;&nbsp; 194407132 | &nbsp;&nbsp;&nbsp;&nbsp;45.59 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Maximum offering price per share was equal to the net asset value per share for all
 share classes, except for Class A, for which the maximum offering price per share was $45.53 [100 / 94.25 x $42.91]. On sales of $50,000 or
 more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class
 A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and
 R6.

**See Notes to Financial Statements**

------

MFS Emerging Markets Equity Fund

**Financial Statements** \| **Statement of Operations**

This statement describes how much your fund earned in investment income and accrued in expenses. It also describes any gains and/or losses generated by fund operations.

---

| | |
|:---|:---|
| **Six months ended 11/30/25 (unaudited)**<br> **Net investment income (loss)**<br>|  |
| Income |  |
| Dividends from unaffiliated issuers | &nbsp;&nbsp; $125329173 |
| Dividends from affiliated issuers | &nbsp;&nbsp; 2502348 |
| Other | &nbsp;&nbsp; 1175733 |
| Income on securities loaned | &nbsp;&nbsp; 118684 |
| Interest | &nbsp;&nbsp; 265 |
| Foreign taxes withheld | &nbsp;&nbsp; (16103108)<br>|
| Total investment income | &nbsp;&nbsp; $113023095 |
| Expenses |  |
| Management fee | &nbsp;&nbsp; $40607558 |
| Distribution and service fees | &nbsp;&nbsp; 276757 |
| Shareholder servicing costs | &nbsp;&nbsp; 307305 |
| Administrative services fee | &nbsp;&nbsp; 274775 |
| Independent Trustees' compensation | &nbsp;&nbsp; 81259 |
| Custodian fee | &nbsp;&nbsp; 1880287 |
| Shareholder communications | &nbsp;&nbsp; 133077 |
| Audit and tax fees | &nbsp;&nbsp; 72525 |
| Legal fees | &nbsp;&nbsp; 20288 |
| Miscellaneous | &nbsp;&nbsp; 167963 |
| Total expenses | &nbsp;&nbsp; $43821794 |
| Reduction of expenses by investment adviser and distributor | &nbsp;&nbsp; (780664)<br>|
| Net expenses | &nbsp;&nbsp; $43041130 |
| Net investment income (loss) | &nbsp;&nbsp; $69981965 |
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Unaffiliated issuers (includes $4,968,222 foreign capital gains tax) | &nbsp;&nbsp; $573044912 |
| Affiliated issuers | &nbsp;&nbsp; 16963 |
| Foreign currency | &nbsp;&nbsp; (3905918)<br>|
| Net realized gain (loss) | &nbsp;&nbsp; $569155957 |
| Change in unrealized appreciation or depreciation |  |
| Unaffiliated issuers (includes $10,750,642 increase in deferred foreign capital gains tax) | &nbsp;&nbsp; $982513054 |
| Affiliated issuers | &nbsp;&nbsp; 18066 |
| Translation of assets and liabilities in foreign currencies | &nbsp;&nbsp; 48521 |
| Net unrealized gain (loss) | &nbsp;&nbsp; $982579641 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $1551735598 |
| Change in net assets from operations | &nbsp;&nbsp; $1621717563 |

---

**See Notes to Financial Statements**

------

MFS Emerging Markets Equity Fund

**Financial Statements** \| **Statements of Changes in Net Assets**

These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions.

---

| | | |
|:---|:---|:---|
|  | **Six months ended** | **Year ended** |
|  | <br>**11/30/25** <br>**(unaudited)**<br>| <br>**5/31/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $69981965 | &nbsp;&nbsp; $195666680 |
| Net realized gain (loss) | 569155957 | &nbsp;&nbsp; 163351932 |
| Net unrealized gain (loss) | 982579641 | &nbsp;&nbsp; 922913652 |
| Change in net assets from operations | $1621717563 | &nbsp;&nbsp; $1281932264 |
| Total distributions to shareholders | $— | &nbsp;&nbsp; $(200003459)<br>|
| Change in net assets from fund share transactions | $(755089168)<br>| &nbsp;&nbsp; $(223693279)<br>|
| Total change in net assets | $866628395 | &nbsp;&nbsp; $858235526 |
| **Net assets** |  |  |
| At beginning of period | 8406870570 | &nbsp;&nbsp; 7548635044 |
| At end of period | $9273498965 | &nbsp;&nbsp; $8406870570 |

---

**See Notes to Financial Statements**

------

MFS Emerging Markets Equity Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years. Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class A**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $35.96 | &nbsp;&nbsp; $31.50 | &nbsp;&nbsp; $29.10 | &nbsp;&nbsp; $30.53 | &nbsp;&nbsp; $41.38 | &nbsp;&nbsp; $28.13 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.23 | &nbsp;&nbsp; $0.70 | &nbsp;&nbsp; $0.64 | &nbsp;&nbsp; $0.62 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.33 |
| Net realized and unrealized gain (loss) | 6.72 | &nbsp;&nbsp;&nbsp;&nbsp;4.55 | &nbsp;&nbsp;&nbsp;&nbsp;2.51 | &nbsp;&nbsp; (1.77)<br>| &nbsp;&nbsp; (10.64)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.12 |
| Total from investment operations | $6.95 | &nbsp;&nbsp; $5.25 | &nbsp;&nbsp; $3.15 | &nbsp;&nbsp; $(1.15)<br>| &nbsp;&nbsp; $(10.15)<br>| &nbsp;&nbsp; $13.45 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.79)<br>| &nbsp;&nbsp; $(0.75)<br>| &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.70)<br>| &nbsp;&nbsp; $(0.20)<br>|
| Net asset value, end of period (x) | $42.91 | &nbsp;&nbsp; $35.96 | &nbsp;&nbsp; $31.50 | &nbsp;&nbsp; $29.10 | &nbsp;&nbsp; $30.53 | &nbsp;&nbsp; $41.38 |
| Total return (%) (r)(s)(t)(x) | 19.33<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.88 | &nbsp;&nbsp;&nbsp;&nbsp;10.99 | &nbsp;&nbsp; (3.75)<br>| &nbsp;&nbsp; (24.78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;47.89 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.32<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.35 | &nbsp;&nbsp;&nbsp;&nbsp;1.36 | &nbsp;&nbsp;&nbsp;&nbsp;1.38 | &nbsp;&nbsp;&nbsp;&nbsp;1.35 | &nbsp;&nbsp;&nbsp;&nbsp;1.34 |
| Expenses after expense reductions | 1.31<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 |
| Net investment income (loss) | 1.12<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.07 | &nbsp;&nbsp;&nbsp;&nbsp;2.11 | &nbsp;&nbsp;&nbsp;&nbsp;2.18 | &nbsp;&nbsp;&nbsp;&nbsp;1.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 36 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 37 |
| Net assets at end of period (000 omitted) | $202506 | &nbsp;&nbsp; $172690 | &nbsp;&nbsp; $164392 | &nbsp;&nbsp; $157909 | &nbsp;&nbsp; $168750 | &nbsp;&nbsp; $204557 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class B**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $33.02 | &nbsp;&nbsp; $28.90 | &nbsp;&nbsp; $26.70 | &nbsp;&nbsp; $27.95 | &nbsp;&nbsp; $37.84 | &nbsp;&nbsp; $25.78 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.11 | &nbsp;&nbsp; $0.38 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $0.36 | &nbsp;&nbsp; $0.20 | &nbsp;&nbsp; $0.05 |
| Net realized and unrealized gain (loss) | 6.12 | &nbsp;&nbsp;&nbsp;&nbsp;4.22 | &nbsp;&nbsp;&nbsp;&nbsp;2.31 | &nbsp;&nbsp; (1.61)<br>| &nbsp;&nbsp; (9.73)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.01 |
| Total from investment operations | $6.23 | &nbsp;&nbsp; $4.60 | &nbsp;&nbsp; $2.68 | &nbsp;&nbsp; $(1.25)<br>| &nbsp;&nbsp; $(9.53)<br>| &nbsp;&nbsp; $12.06 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(0.48)<br>| $— | &nbsp;&nbsp; $(0.36)<br>| $— |
| Net asset value, end of period (x) | $39.25 | &nbsp;&nbsp; $33.02 | &nbsp;&nbsp; $28.90 | &nbsp;&nbsp; $26.70 | &nbsp;&nbsp; $27.95 | &nbsp;&nbsp; $37.84 |
| Total return (%) (r)(s)(t)(x) | 18.87<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.03 | &nbsp;&nbsp;&nbsp;&nbsp;10.14 | &nbsp;&nbsp; (4.47)<br>| &nbsp;&nbsp; (25.33)<br>| &nbsp;&nbsp;&nbsp;&nbsp;46.78 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 2.07<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.10 | &nbsp;&nbsp;&nbsp;&nbsp;2.11 | &nbsp;&nbsp;&nbsp;&nbsp;2.13 | &nbsp;&nbsp;&nbsp;&nbsp;2.09 | &nbsp;&nbsp;&nbsp;&nbsp;2.09 |
| Expenses after expense reductions | 2.06<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 |
| Net investment income (loss) | 0.58<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.34 | &nbsp;&nbsp;&nbsp;&nbsp;1.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.16 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 36 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 37 |
| Net assets at end of period (000 omitted) | $192 | &nbsp;&nbsp; $259 | &nbsp;&nbsp; $421 | &nbsp;&nbsp; $673 | &nbsp;&nbsp; $1166 | &nbsp;&nbsp; $2396 |

---

**See Notes to Financial Statements**

------

MFS Emerging Markets Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class C**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $32.01 | &nbsp;&nbsp; $28.10 | &nbsp;&nbsp; $26.00 | &nbsp;&nbsp; $27.23 | &nbsp;&nbsp; $36.91 | &nbsp;&nbsp; $25.15 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.08 | &nbsp;&nbsp; $0.39 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $0.35 | &nbsp;&nbsp; $0.20 | &nbsp;&nbsp; $0.06 |
| Net realized and unrealized gain (loss) | 5.96 | &nbsp;&nbsp;&nbsp;&nbsp;4.08 | &nbsp;&nbsp;&nbsp;&nbsp;2.23 | &nbsp;&nbsp; (1.56)<br>| &nbsp;&nbsp; (9.49)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.70 |
| Total from investment operations | $6.04 | &nbsp;&nbsp; $4.47 | &nbsp;&nbsp; $2.60 | &nbsp;&nbsp; $(1.21)<br>| &nbsp;&nbsp; $(9.29)<br>| &nbsp;&nbsp; $11.76 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.39)<br>| $— |
| Net asset value, end of period (x) | $38.05 | &nbsp;&nbsp; $32.01 | &nbsp;&nbsp; $28.10 | &nbsp;&nbsp; $26.00 | &nbsp;&nbsp; $27.23 | &nbsp;&nbsp; $36.91 |
| Total return (%) (r)(s)(t)(x) | 18.87<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.05 | &nbsp;&nbsp;&nbsp;&nbsp;10.11 | &nbsp;&nbsp; (4.45)<br>| &nbsp;&nbsp; (25.33)<br>| &nbsp;&nbsp;&nbsp;&nbsp;46.76 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 2.07<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.10 | &nbsp;&nbsp;&nbsp;&nbsp;2.11 | &nbsp;&nbsp;&nbsp;&nbsp;2.13 | &nbsp;&nbsp;&nbsp;&nbsp;2.09 | &nbsp;&nbsp;&nbsp;&nbsp;2.09 |
| Expenses after expense reductions | 2.05<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 |
| Net investment income (loss) | 0.43<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;&nbsp;1.37 | &nbsp;&nbsp;&nbsp;&nbsp;1.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.18 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 36 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 37 |
| Net assets at end of period (000 omitted) | $2500 | &nbsp;&nbsp; $2419 | &nbsp;&nbsp; $2887 | &nbsp;&nbsp; $3702 | &nbsp;&nbsp; $5427 | &nbsp;&nbsp; $10467 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class I**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $38.13 | &nbsp;&nbsp; $33.34 | &nbsp;&nbsp; $30.75 | &nbsp;&nbsp; $32.24 | &nbsp;&nbsp; $43.63 | &nbsp;&nbsp; $29.64 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.28 | &nbsp;&nbsp; $0.87 | &nbsp;&nbsp; $0.75 | &nbsp;&nbsp; $0.74 | &nbsp;&nbsp; $0.60 | &nbsp;&nbsp; $0.43 |
| Net realized and unrealized gain (loss) | 7.14 | &nbsp;&nbsp;&nbsp;&nbsp;4.79 | &nbsp;&nbsp;&nbsp;&nbsp;2.66 | &nbsp;&nbsp; (1.88)<br>| &nbsp;&nbsp; (11.21)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.84 |
| Total from investment operations | $7.42 | &nbsp;&nbsp; $5.66 | &nbsp;&nbsp; $3.41 | &nbsp;&nbsp; $(1.14)<br>| &nbsp;&nbsp; $(10.61)<br>| &nbsp;&nbsp; $14.27 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.87)<br>| &nbsp;&nbsp; $(0.82)<br>| &nbsp;&nbsp; $(0.35)<br>| &nbsp;&nbsp; $(0.78)<br>| &nbsp;&nbsp; $(0.28)<br>|
| Net asset value, end of period (x) | $45.55 | &nbsp;&nbsp; $38.13 | &nbsp;&nbsp; $33.34 | &nbsp;&nbsp; $30.75 | &nbsp;&nbsp; $32.24 | &nbsp;&nbsp; $43.63 |
| Total return (%) (r)(s)(t)(x) | 19.46<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.20 | &nbsp;&nbsp;&nbsp;&nbsp;11.27 | &nbsp;&nbsp; (3.51)<br>| &nbsp;&nbsp; (24.59)<br>| &nbsp;&nbsp;&nbsp;&nbsp;48.24 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.07<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 |
| Expenses after expense reductions | 1.06<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 |
| Net investment income (loss) | 1.29<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.41 | &nbsp;&nbsp;&nbsp;&nbsp;2.35 | &nbsp;&nbsp;&nbsp;&nbsp;2.44 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 36 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 37 |
| Net assets at end of period (000 omitted) | $184681 | &nbsp;&nbsp; $125651 | &nbsp;&nbsp; $100206 | &nbsp;&nbsp; $95629 | &nbsp;&nbsp; $93329 | &nbsp;&nbsp; $168061 |

---

**See Notes to Financial Statements**

------

MFS Emerging Markets Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R1**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $31.43 | &nbsp;&nbsp; $27.72 | &nbsp;&nbsp; $25.42 | &nbsp;&nbsp; $26.70 | &nbsp;&nbsp; $36.41 | &nbsp;&nbsp; $24.80 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.06 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.52 | &nbsp;&nbsp; $0.35 | &nbsp;&nbsp; $0.16 | &nbsp;&nbsp; $0.05 |
| Net realized and unrealized gain (loss) | 5.87 | &nbsp;&nbsp;&nbsp;&nbsp;3.96 | &nbsp;&nbsp;&nbsp;&nbsp;2.05 | &nbsp;&nbsp; (1.54)<br>| &nbsp;&nbsp; (9.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.56 |
| Total from investment operations | $5.93 | &nbsp;&nbsp; $4.38 | &nbsp;&nbsp; $2.57 | &nbsp;&nbsp; $(1.19)<br>| &nbsp;&nbsp; $(9.14)<br>| &nbsp;&nbsp; $11.61 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.67)<br>| &nbsp;&nbsp; $(0.27)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.57)<br>| $— |
| Net asset value, end of period (x) | $37.36 | &nbsp;&nbsp; $31.43 | &nbsp;&nbsp; $27.72 | &nbsp;&nbsp; $25.42 | &nbsp;&nbsp; $26.70 | &nbsp;&nbsp; $36.41 |
| Total return (%) (r)(s)(t)(x) | 18.87<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.01 | &nbsp;&nbsp;&nbsp;&nbsp;10.17 | &nbsp;&nbsp; (4.47)<br>| &nbsp;&nbsp; (25.33)<br>| &nbsp;&nbsp;&nbsp;&nbsp;46.81 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 2.07<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.10 | &nbsp;&nbsp;&nbsp;&nbsp;2.11 | &nbsp;&nbsp;&nbsp;&nbsp;2.13 | &nbsp;&nbsp;&nbsp;&nbsp;2.10 | &nbsp;&nbsp;&nbsp;&nbsp;2.09 |
| Expenses after expense reductions | 2.06<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 |
| Net investment income (loss) | 0.36<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.41 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.16 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 36 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 37 |
| Net assets at end of period (000 omitted) | $1264 | &nbsp;&nbsp; $1070 | &nbsp;&nbsp; $519 | &nbsp;&nbsp; $1296 | &nbsp;&nbsp; $1414 | &nbsp;&nbsp; $725 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R2**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $32.50 | &nbsp;&nbsp; $28.53 | &nbsp;&nbsp; $26.44 | &nbsp;&nbsp; $27.77 | &nbsp;&nbsp; $37.68 | &nbsp;&nbsp; $25.64 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.16 | &nbsp;&nbsp; $0.56 | &nbsp;&nbsp; $0.50 | &nbsp;&nbsp; $0.50 | &nbsp;&nbsp; $0.36 | &nbsp;&nbsp; $0.22 |
| Net realized and unrealized gain (loss) | 6.07 | &nbsp;&nbsp;&nbsp;&nbsp;4.11 | &nbsp;&nbsp;&nbsp;&nbsp;2.29 | &nbsp;&nbsp; (1.61)<br>| &nbsp;&nbsp; (9.68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.94 |
| Total from investment operations | $6.23 | &nbsp;&nbsp; $4.67 | &nbsp;&nbsp; $2.79 | &nbsp;&nbsp; $(1.11)<br>| &nbsp;&nbsp; $(9.32)<br>| &nbsp;&nbsp; $12.16 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.70)<br>| &nbsp;&nbsp; $(0.70)<br>| &nbsp;&nbsp; $(0.22)<br>| &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(0.12)<br>|
| Net asset value, end of period (x) | $38.73 | &nbsp;&nbsp; $32.50 | &nbsp;&nbsp; $28.53 | &nbsp;&nbsp; $26.44 | &nbsp;&nbsp; $27.77 | &nbsp;&nbsp; $37.68 |
| Total return (%) (r)(s)(t)(x) | 19.17<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.58 | &nbsp;&nbsp;&nbsp;&nbsp;10.71 | &nbsp;&nbsp; (3.99)<br>| &nbsp;&nbsp; (24.96)<br>| &nbsp;&nbsp;&nbsp;&nbsp;47.47 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.57<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.63 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 |
| Expenses after expense reductions | 1.56<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.56 | &nbsp;&nbsp;&nbsp;&nbsp;1.56 | &nbsp;&nbsp;&nbsp;&nbsp;1.56 | &nbsp;&nbsp;&nbsp;&nbsp;1.56 | &nbsp;&nbsp;&nbsp;&nbsp;1.56 |
| Net investment income (loss) | 0.85<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.84 | &nbsp;&nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.92 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.67 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 36 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 37 |
| Net assets at end of period (000 omitted) | $2618 | &nbsp;&nbsp; $2189 | &nbsp;&nbsp; $2250 | &nbsp;&nbsp; $2028 | &nbsp;&nbsp; $2427 | &nbsp;&nbsp; $4227 |

---

**See Notes to Financial Statements**

------

MFS Emerging Markets Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R3**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $35.92 | &nbsp;&nbsp; $31.47 | &nbsp;&nbsp; $29.08 | &nbsp;&nbsp; $30.51 | &nbsp;&nbsp; $41.17 | &nbsp;&nbsp; $27.95 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.13 | &nbsp;&nbsp; $0.71 | &nbsp;&nbsp; $0.64 | &nbsp;&nbsp; $0.63 | &nbsp;&nbsp; $0.56 | &nbsp;&nbsp; $0.41 |
| Net realized and unrealized gain (loss) | 6.80 | &nbsp;&nbsp;&nbsp;&nbsp;4.54 | &nbsp;&nbsp;&nbsp;&nbsp;2.51 | &nbsp;&nbsp; (1.78)<br>| &nbsp;&nbsp; (10.69)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.96 |
| Total from investment operations | $6.93 | &nbsp;&nbsp; $5.25 | &nbsp;&nbsp; $3.15 | &nbsp;&nbsp; $(1.15)<br>| &nbsp;&nbsp; $(10.13)<br>| &nbsp;&nbsp; $13.37 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.80)<br>| &nbsp;&nbsp; $(0.76)<br>| &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(0.15)<br>|
| Net asset value, end of period (x) | $42.85 | &nbsp;&nbsp; $35.92 | &nbsp;&nbsp; $31.47 | &nbsp;&nbsp; $29.08 | &nbsp;&nbsp; $30.51 | &nbsp;&nbsp; $41.17 |
| Total return (%) (r)(s)(t)(x) | 19.29<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.90 | &nbsp;&nbsp;&nbsp;&nbsp;11.01 | &nbsp;&nbsp; (3.75)<br>| &nbsp;&nbsp; (24.78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;47.89 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.32<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.35 | &nbsp;&nbsp;&nbsp;&nbsp;1.36 | &nbsp;&nbsp;&nbsp;&nbsp;1.38 | &nbsp;&nbsp;&nbsp;&nbsp;1.34 | &nbsp;&nbsp;&nbsp;&nbsp;1.34 |
| Expenses after expense reductions | 1.31<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 |
| Net investment income (loss) | 0.62<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.09 | &nbsp;&nbsp;&nbsp;&nbsp;2.11 | &nbsp;&nbsp;&nbsp;&nbsp;2.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 36 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 37 |
| Net assets at end of period (000 omitted) | $9087 | &nbsp;&nbsp; $1993 | &nbsp;&nbsp; $1661 | &nbsp;&nbsp; $1286 | &nbsp;&nbsp; $1406 | &nbsp;&nbsp; $5103 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R4**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $35.80 | &nbsp;&nbsp; $31.36 | &nbsp;&nbsp; $28.98 | &nbsp;&nbsp; $30.43 | &nbsp;&nbsp; $41.24 | &nbsp;&nbsp; $28.03 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.29 | &nbsp;&nbsp; $0.80 | &nbsp;&nbsp; $0.73 | &nbsp;&nbsp; $0.70 | &nbsp;&nbsp; $0.60 | &nbsp;&nbsp; $0.43 |
| Net realized and unrealized gain (loss) | 6.68 | &nbsp;&nbsp;&nbsp;&nbsp;4.52 | &nbsp;&nbsp;&nbsp;&nbsp;2.48 | &nbsp;&nbsp; (1.78)<br>| &nbsp;&nbsp; (10.62)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.06 |
| Total from investment operations | $6.97 | &nbsp;&nbsp; $5.32 | &nbsp;&nbsp; $3.21 | &nbsp;&nbsp; $(1.08)<br>| &nbsp;&nbsp; $(10.02)<br>| &nbsp;&nbsp; $13.49 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.88)<br>| &nbsp;&nbsp; $(0.83)<br>| &nbsp;&nbsp; $(0.37)<br>| &nbsp;&nbsp; $(0.79)<br>| &nbsp;&nbsp; $(0.28)<br>|
| Net asset value, end of period (x) | $42.77 | &nbsp;&nbsp; $35.80 | &nbsp;&nbsp; $31.36 | &nbsp;&nbsp; $28.98 | &nbsp;&nbsp; $30.43 | &nbsp;&nbsp; $41.24 |
| Total return (%) (r)(s)(t)(x) | 19.47<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.19 | &nbsp;&nbsp;&nbsp;&nbsp;11.27 | &nbsp;&nbsp; (3.53)<br>| &nbsp;&nbsp; (24.57)<br>| &nbsp;&nbsp;&nbsp;&nbsp;48.20 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.07<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 |
| Expenses after expense reductions | 1.06<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 |
| Net investment income (loss) | 1.43<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.36 | &nbsp;&nbsp;&nbsp;&nbsp;2.41 | &nbsp;&nbsp;&nbsp;&nbsp;2.46 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 36 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 37 |
| Net assets at end of period (000 omitted) | $6805 | &nbsp;&nbsp; $6694 | &nbsp;&nbsp; $5670 | &nbsp;&nbsp; $4138 | &nbsp;&nbsp; $3264 | &nbsp;&nbsp; $3037 |

---

**See Notes to Financial Statements**

------

MFS Emerging Markets Equity Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R6**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $38.14 | &nbsp;&nbsp; $33.36 | &nbsp;&nbsp; $30.77 | &nbsp;&nbsp; $32.26 | &nbsp;&nbsp; $43.67 | &nbsp;&nbsp; $29.66 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.33 | &nbsp;&nbsp; $0.89 | &nbsp;&nbsp; $0.81 | &nbsp;&nbsp; $0.79 | &nbsp;&nbsp; $0.66 | &nbsp;&nbsp; $0.47 |
| Net realized and unrealized gain (loss) | 7.12 | &nbsp;&nbsp;&nbsp;&nbsp;4.82 | &nbsp;&nbsp;&nbsp;&nbsp;2.66 | &nbsp;&nbsp; (1.88)<br>| &nbsp;&nbsp; (11.24)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.86 |
| Total from investment operations | $7.45 | &nbsp;&nbsp; $5.71 | &nbsp;&nbsp; $3.47 | &nbsp;&nbsp; $(1.09)<br>| &nbsp;&nbsp; $(10.58)<br>| &nbsp;&nbsp; $14.33 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.93)<br>| &nbsp;&nbsp; $(0.88)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.83)<br>| &nbsp;&nbsp; $(0.32)<br>|
| Net asset value, end of period (x) | $45.59 | &nbsp;&nbsp; $38.14 | &nbsp;&nbsp; $33.36 | &nbsp;&nbsp; $30.77 | &nbsp;&nbsp; $32.26 | &nbsp;&nbsp; $43.67 |
| Total return (%) (r)(s)(t)(x) | 19.53<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.35 | &nbsp;&nbsp;&nbsp;&nbsp;11.45 | &nbsp;&nbsp; (3.34)<br>| &nbsp;&nbsp; (24.49)<br>| &nbsp;&nbsp;&nbsp;&nbsp;48.43 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.94<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 |
| Expenses after expense reductions | 0.92<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 |
| Net investment income (loss) | 1.54<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.48 | &nbsp;&nbsp;&nbsp;&nbsp;2.52 | &nbsp;&nbsp;&nbsp;&nbsp;2.62 | &nbsp;&nbsp;&nbsp;&nbsp;1.76 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 |
| Portfolio turnover rate | 24<br> (n)<br>| &nbsp;&nbsp; 36 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 37 |
| Net assets at end of period (000 omitted) | $8863848 | &nbsp;&nbsp; $8093906 | &nbsp;&nbsp; $7270629 | &nbsp;&nbsp; $6638192 | &nbsp;&nbsp; $6524541 | &nbsp;&nbsp; $7034144 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

MFS Emerging Markets Equity Fund

**Notes to Financial Statements (unaudited)**

**(1) Business and Organization**

MFS Emerging Markets Equity Fund (the fund) is a diversified series of MFS Series Trust X (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(2) Significant Accounting Policies**

**General** — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of the fund's Statement of Assets and Liabilities through the date that the financial statements were issued. The fund invests in foreign securities, including securities of emerging market issuers. Investments in foreign securities are vulnerable to the effects of changes in the relative values of the local currency and the U.S. dollar and to the effects of changes in each country's market, economic, industrial, political, regulatory, geopolitical, environmental, public health, and other conditions. Investments tied economically to emerging markets, especially frontier markets, can involve additional and greater risks than the risks associated with investments in developed markets. Emerging markets can have less developed markets, greater custody and operational risk, less developed legal, regulatory, and accounting systems, greater government involvement in the economy, greater risk of new or inconsistent government treatment of or restrictions on issuers and instruments, and greater political, social, geopolitical, and economic instability than developed markets.

**Operating Segments** — An operating segment is defined in FASB Accounting Standards Codification Topic 280-Segment Reporting as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the entity's chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available. The fund represents a single operating segment and the Chairman's Committee of the fund's adviser acts as the segment's CODM. The fund's total returns, expense ratios, and changes in net assets which are used by the CODM to assess segment performance and to make resource allocation decisions to the segment are consistent with that presented within the fund's financial statements.

**Balance Sheet Offsetting** — The fund's accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the International Swaps and Derivatives Association (ISDA) Master Agreement, or similar agreement, does not result in an offset of reported amounts of financial assets and financial liabilities in the Statement of Assets and Liabilities across transactions between the fund and the applicable counterparty. The fund's right to setoff may be restricted or prohibited by the bankruptcy or insolvency laws of the particular jurisdiction to which a specific master netting agreement counterparty is subject. Balance sheet offsetting disclosures, to the extent applicable to the fund, have been included in the fund's Significant Accounting Policies note under the captions for each of the fund's in-scope financial instruments and transactions.

**Investment Valuations** — Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

------

MFS Emerging Markets Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund's net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund's foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of November 30, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities: |  |  |  |  |
| China | $2574354482 | $— | $— | $2574354482 |
| Taiwan | 1536041149 |  |  | 1536041149 |
| India | 1514995901 |  |  | 1514995901 |
| South Korea | 890175810 |  |  | 890175810 |
| Brazil | 570028022 |  |  | 570028022 |
| Indonesia | 330326448 |  |  | 330326448 |
| Mexico | 250500299 |  |  | 250500299 |
| Hong Kong | 244698842 |  |  | 244698842 |
| Thailand |  | 198906034 |  | 198906034 |
| Other Countries | 1017423110 |  | 0 | 1017423110 |
| Investment Companies | 178332729 |  |  | 178332729 |
| Total | $9106876792 | $198906034 | $0 | $9305782826 |

---

For further information regarding security characteristics, see the Portfolio of Investments. At November 30, 2025, the fund held one level 3 security valued at $0, which was also held and valued at $0 at November 30, 2025.

**Foreign Currency Translation** — Purchases and sales of foreign investments, income, and expenses are converted into U.S. dollars based upon currency exchange rates prevailing on the respective dates of such transactions or on the reporting date for foreign denominated receivables and payables. Gains and losses attributable to foreign currency exchange rates on sales of securities are recorded for financial statement purposes as net realized gains and losses on investments. Gains and losses attributable to foreign exchange rate movements on receivables, payables, income and expenses are recorded for financial statement purposes as foreign currency transaction gains and losses. That portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.

**Security Loans** — Under its Securities Lending Agency Agreement with the fund, Goldman Sachs Agency Lending, as lending agent, loans the securities of the fund to certain qualified institutions (the "Borrowers") approved by the fund. Security loans can be terminated at the discretion of either the lending agent or the fund and the related securities must be returned within the earlier of

------

MFS Emerging Markets Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

the standard trade settlement period for such securities or within five business days. The loans are collateralized by cash and/or U.S. government securities in an amount typically at least equal to the market value of the securities loaned. On loans collateralized by cash, the cash collateral is invested in a money market fund. The market value of the loaned securities is determined at the close of business of the fund and any additional required collateral is delivered to the fund on the next business day. The lending agent provides the fund with indemnification against Borrower default. In the event of Borrower default, the lending agent will, for the benefit of the fund, either purchase securities identical to those loaned or pay the fund the market value of the loaned securities. In return, the lending agent assumes the fund's rights to the related collateral. If the collateral value is less than the cost to purchase identical securities or the cash needed to pay their market value, the lending agent is responsible for the shortfall, but only to the extent that such shortfall is not due to a decline in collateral value resulting from collateral reinvestment for which the fund bears the risk of loss. At period end, the fund had investment securities on loan, all of which were classified as equity securities in the fund's Portfolio of Investments, with a fair value of $9,806,178. The fair value of the fund's investment securities on loan and a related liability of $10,616,925 for the obligation to return cash collateral received on securities loaned are both presented gross in the Statement of Assets and Liabilities. The collateral on securities loaned exceeded the value of securities on loan at period end. The liability for cash collateral for securities loaned is carried at fair value, which is categorized as level 2 within the fair value hierarchy. A portion of the income generated upon investment of the collateral is remitted to the Borrowers, and the remainder is allocated between the fund and the lending agent. On loans collateralized by U.S. government securities, a fee is received from the Borrower, and is allocated between the fund and the lending agent. Income from securities lending is separately reported in the Statement of Operations. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income.

**Indemnifications** — Under the fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into agreements with service providers that may contain indemnification clauses. The fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against the fund that have not yet occurred.

**Investment Transactions and Income** — Interest income is recorded on the accrual basis. Dividends received in cash are recorded on the ex-dividend date. Certain dividends from foreign securities will be recorded when the fund is informed of the dividend if such information is obtained subsequent to the ex-dividend date. Dividend and interest payments received in additional securities are recorded on the ex-dividend or ex-interest date in an amount equal to the value of the security on such date.

The fund may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statement of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statement of Operations.

Investment transactions are recorded on the trade date. In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis.

**Tax Matters and Distributions** — The fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. The fund's federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for generally a three year period. Management has analyzed the fund's tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability. Foreign taxes, if any, have been accrued by the fund in the accompanying financial statements in accordance with the applicable foreign tax law. Foreign income taxes may be withheld by certain countries in which the fund invests. Additionally, capital gains realized by the fund on securities issued in or by certain foreign countries may be subject to capital gains tax imposed by those countries.

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.

Book/tax differences primarily relate to passive foreign investment companies, wash sale loss deferrals, and foreign taxes.

The tax character of distributions declared to shareholders for the last fiscal year is as follows:

------

MFS Emerging Markets Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**5/31/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $200003459 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

---

| | |
|:---|:---|
| **As of 11/30/25** |  |
| Cost of investments | &nbsp;&nbsp; $7027365222 |
| Gross appreciation | &nbsp;&nbsp; 2826494584 |
| Gross depreciation | &nbsp;&nbsp; (548076980)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $2278417604 |
| **As of 5/31/25** |  |
| Undistributed ordinary income | &nbsp;&nbsp; 120391563 |
| Capital loss carryforwards | &nbsp;&nbsp; (660744153)<br>|
| Other temporary differences | &nbsp;&nbsp; (25693767)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; 1285135842 |

---

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

As of May 31, 2025, the fund had capital loss carryforwards available to offset future realized gains. These net capital losses may be carried forward indefinitely and their character is retained as short-term and/or long-term losses. Such losses are characterized as follows:

---

| | |
|:---|:---|
| Short-Term | $(27492697)<br>|
| Long-Term | (633251456)<br>|
| Total | $(660744153)<br>|

---

**Multiple Classes of Shares of Beneficial Interest** — The fund offers multiple classes of shares, which differ in their respective distribution and service fees. The fund's income, realized and unrealized gain (loss), and common expenses are allocated to shareholders based on the daily net assets of each class. Dividends are declared separately for each class. Differences in per share dividend rates are generally due to differences in separate class expenses. Class B and Class C shares will convert to Class A shares approximately eight years after purchase. The fund's distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months ended** <br>**11/30/25**<br>| **Year ended** <br>**5/31/25**<br>|
| Class A | $— | &nbsp;&nbsp; $3900888 |
| Class B |  | &nbsp;&nbsp; 5207 |
| Class C |  | &nbsp;&nbsp; 50503 |
| Class I |  | &nbsp;&nbsp; 2398991 |
| Class R1 |  | &nbsp;&nbsp; 17822 |
| Class R2 |  | &nbsp;&nbsp; 46337 |
| Class R3 |  | &nbsp;&nbsp; 43136 |
| Class R4 |  | &nbsp;&nbsp; 151500 |
| Class R6 |  | &nbsp;&nbsp; 193389075 |
| Total | $— | &nbsp;&nbsp; $200003459 |

---

**(3) Transactions with Affiliates**

**Investment Adviser** — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. The management fee is computed daily and paid monthly at the following annual rates based on the fund's average daily net assets:

---

| | |
|:---|:---|
| Up to $500 million | 1.05% |
| In excess of $500 million and up to $1 billion | 0.95% |
| In excess of $1 billion and up to $4 billion | 0.90% |
| In excess of $4 billion and up to $10 billion | 0.85% |
| In excess of $10 billion | 0.80% |

---

------

MFS Emerging Markets Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

MFS has agreed in writing to reduce its management fee by a specified amount if certain MFS mutual fund assets exceed thresholds agreed to by MFS and the fund's Board of Trustees. MFS has also agreed in writing to waive at least 0.01% of its management fee as part of this agreement. The agreement to waive at least 0.01% of the management fee will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this management fee reduction amounted to $638,273, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.87% of the fund's average daily net assets.

The investment adviser had agreed in writing to pay a portion of the fund's total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses did not exceed the following rates annually of each class's average daily net assets:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **Classes** |  |  |  |  |
| **A** | **B** | **C** | **I** | **R1** | **R2** | **R3** | **R4** | **R6** |
| 1.31% | 2.06% | 2.06% | 1.06% | 2.06% | 1.56% | 1.31% | 1.06% | 0.95% |

---

This written agreement terminated on July 31, 2025. For the period from June 1, 2025 through July 31, 2025, this reduction amounted to $142,168, which is included in the reduction of total expenses in the Statement of Operations.

Effective August 1, 2025, the investment adviser has agreed in writing to pay a portion of the fund's total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses do not exceed the following rates annually of each class's average daily net assets:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **Classes** |  |  |  |  |
| **A** | **B** | **C** | **I** | **R1** | **R2** | **R3** | **R4** | **R6** |
| 1.31% | 2.06% | 2.06% | 1.06% | 2.06% | 1.56% | 1.31% | 1.06% | 0.94% |

---

This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the period from August 1, 2025 through November 30, 2025, the fund's actual operating expenses did not exceed the limit and therefore, the investment adviser did not pay any portion of the fund's expenses related to this agreement.

**Distributor** — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received $12,564 for the six months ended November 30, 2025, as its portion of the initial sales charge on sales of Class A shares of the fund.

The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.

The fund's distribution plan provides that the fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries. The distribution and service fees are computed daily and paid monthly.

------

MFS Emerging Markets Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

**Distribution Plan Fee Table:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| Class A |  | 0.25% | 0.25% | 0.25% | $241588 |
| Class B | 0.75% | 0.25% | 1.00% | 1.00% | 1144 |
| Class C | 0.75% | 0.25% | 1.00% | 0.99% | 12950 |
| Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 5942 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 6208 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 8925 |
| Total Distribution and Service Fees  |  |  |  |  | $276757 |

---

(d) In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each

class's average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting

period. Any rate changes, if applicable, are detailed below.

(e) The annual effective rates represent actual fees incurred under the distribution plan for the six months ended November 30, 2025 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended November 30, 2025, this rebate amounted to $157 and $66 for Class A and Class C shares, respectively, and is included in the reduction of total expenses in the Statement of Operations.

Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class B shares are subject to a CDSC in the event of a shareholder redemption within six years of purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD and during the six months ended November 30, 2025, were as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| Class A | $771 |
| Class B |  |
| Class C | 138 |

---

**Shareholder Servicing Agent** — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from the fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of the fund as determined periodically under the supervision of the fund's Board of Trustees. For the six months ended November 30, 2025, the fee was $47,998, which equated to 0.0010% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the six months ended November 30, 2025, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $259,307.

**Administrator** — MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to the fund. Under an administrative services agreement, the fund reimburses MFS the costs incurred to provide these services. The fund is charged an annual fixed amount of $17,500 plus a fee based on average daily net assets. The administrative services fee is computed daily and paid monthly. The administrative services fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.0060% of the fund's average daily net assets.

**Trustees' and Officers' Compensation** — The fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. Independent Trustees' compensation is accrued daily and paid subsequent to each Trustee Board meeting. The fund does not pay compensation directly to Trustees or officers of the fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to the fund. Certain officers and Trustees of the fund are officers or directors of MFS, MFD, and MFSC.

**Other** — The fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.

MFS purchased or redeemed fund shares on the dates indicated:

------

MFS Emerging Markets Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| 8/19/2024 | Redemption | Class I | 3 | $90 |
| 8/19/2024 | Redemption | Class R2 | 2 | 74 |
| 8/19/2024 | Redemption | Class R3 | 2 | 82 |
| 8/19/2024 | Redemption | Class R4 | 3 | 114 |

---

The adviser has voluntarily undertaken to reimburse the fund from its own resources on a quarterly basis for the cost of investment research embedded in the cost of the fund's securities trades. This agreement may be rescinded at any time. For the six months ended November 30, 2025, this reimbursement amounted to $1,175,733, which is included in "Other" income in the Statement of Operations.

**(4) Portfolio Securities**

For the six months ended November 30, 2025, purchases and sales of investments, other than short-term obligations, aggregated $2,111,659,160 and $2,822,252,163, respectively.

**(5) Shares of Beneficial Interest** 

The fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** <br>**11/30/25** | **Six months ended** <br>**11/30/25** | **Year ended** <br>**5/31/25** | **Year ended** <br>**5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 384194 | &nbsp;&nbsp; $15703091 | &nbsp;&nbsp; 618570 | &nbsp;&nbsp; $20977906 |
| Class C | 7725 | &nbsp;&nbsp; 273227 | &nbsp;&nbsp; 16430 | &nbsp;&nbsp; 493976 |
| Class I | 1237722 | &nbsp;&nbsp; 54819609 | &nbsp;&nbsp; 1172926 | &nbsp;&nbsp; 42320651 |
| Class R1 | 1185 | &nbsp;&nbsp; 42106 | &nbsp;&nbsp; 17379 | &nbsp;&nbsp; 523535 |
| Class R2 | 5022 | &nbsp;&nbsp; 183356 | &nbsp;&nbsp; 14614 | &nbsp;&nbsp; 453235 |
| Class R3 | 195388 | &nbsp;&nbsp; 7650384 | &nbsp;&nbsp; 10441 | &nbsp;&nbsp; 352513 |
| Class R4 | 13553 | &nbsp;&nbsp; 534244 | &nbsp;&nbsp; 31085 | &nbsp;&nbsp; 1047869 |
| Class R6 | 10568556 | &nbsp;&nbsp; 436627520 | &nbsp;&nbsp; 15746242 | &nbsp;&nbsp; 563245987 |
|  | 12413345 | &nbsp;&nbsp; $515833537 | &nbsp;&nbsp; 17627687 | &nbsp;&nbsp; $629415672 |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A |  | $— | &nbsp;&nbsp; 115652 | &nbsp;&nbsp; $3838500 |
| Class B |  |  | &nbsp;&nbsp; 171 | &nbsp;&nbsp; 5207 |
| Class C |  |  | &nbsp;&nbsp; 1609 | &nbsp;&nbsp; 47684 |
| Class I |  |  | &nbsp;&nbsp; 66432 | &nbsp;&nbsp; 2335078 |
| Class R1 |  |  | &nbsp;&nbsp; 612 | &nbsp;&nbsp; 17822 |
| Class R2 |  |  | &nbsp;&nbsp; 1531 | &nbsp;&nbsp; 45972 |
| Class R3 |  |  | &nbsp;&nbsp; 1301 | &nbsp;&nbsp; 43136 |
| Class R4 |  |  | &nbsp;&nbsp; 4590 | &nbsp;&nbsp; 151500 |
| Class R6 |  |  | &nbsp;&nbsp; 5502495 | &nbsp;&nbsp; 193357662 |
|  |  | $— | &nbsp;&nbsp; 5694393 | &nbsp;&nbsp; $199842561 |

---

------

MFS Emerging Markets Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **11/30/25** | **Six months ended**<br> **11/30/25** | **Year ended**<br> **5/31/25** | **Year ended**<br> **5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares reacquired |  |  |  |  |
| Class A | (466587)<br>| &nbsp;&nbsp; $(19037184)<br>| &nbsp;&nbsp; (1151821)<br>| &nbsp;&nbsp; $(39062606)<br>|
| Class B | (2962)<br>| &nbsp;&nbsp; (108983)<br>| &nbsp;&nbsp; (6883)<br>| &nbsp;&nbsp; (213067)<br>|
| Class C | (17600)<br>| &nbsp;&nbsp; (636217)<br>| &nbsp;&nbsp; (45191)<br>| &nbsp;&nbsp; (1354264)<br>|
| Class I | (478722)<br>| &nbsp;&nbsp; (20824976)<br>| &nbsp;&nbsp; (949586)<br>| &nbsp;&nbsp; (34255440)<br>|
| Class R1 | (1395)<br>| &nbsp;&nbsp; (47558)<br>| &nbsp;&nbsp; (2688)<br>| &nbsp;&nbsp; (78713)<br>|
| Class R2 | (4782)<br>| &nbsp;&nbsp; (176207)<br>| &nbsp;&nbsp; (27665)<br>| &nbsp;&nbsp; (841934)<br>|
| Class R3 | (38808)<br>| &nbsp;&nbsp; (1587259)<br>| &nbsp;&nbsp; (9043)<br>| &nbsp;&nbsp; (303137)<br>|
| Class R4 | (41419)<br>| &nbsp;&nbsp; (1713684)<br>| &nbsp;&nbsp; (29518)<br>| &nbsp;&nbsp; (993985)<br>|
| Class R6 | (28373371)<br>| &nbsp;&nbsp; (1226790637)<br>| &nbsp;&nbsp; (27004056)<br>| &nbsp;&nbsp; (975848366)<br>|
|  | (29425646)<br>| &nbsp;&nbsp; $(1270922705)<br>| &nbsp;&nbsp; (29226451)<br>| &nbsp;&nbsp; $(1052951512)<br>|
| Net change |  |  |  |  |
| Class A | (82393)<br>| &nbsp;&nbsp; $(3334093)<br>| &nbsp;&nbsp; (417599)<br>| &nbsp;&nbsp; $(14246200)<br>|
| Class B | (2962)<br>| &nbsp;&nbsp; (108983)<br>| &nbsp;&nbsp; (6712)<br>| &nbsp;&nbsp; (207860)<br>|
| Class C | (9875)<br>| &nbsp;&nbsp; (362990)<br>| &nbsp;&nbsp; (27152)<br>| &nbsp;&nbsp; (812604)<br>|
| Class I | 759000 | &nbsp;&nbsp; 33994633 | &nbsp;&nbsp; 289772 | &nbsp;&nbsp; 10400289 |
| Class R1 | (210)<br>| &nbsp;&nbsp; (5452)<br>| &nbsp;&nbsp; 15303 | &nbsp;&nbsp; 462644 |
| Class R2 | 240 | &nbsp;&nbsp; 7149 | &nbsp;&nbsp; (11520)<br>| &nbsp;&nbsp; (342727)<br>|
| Class R3 | 156580 | &nbsp;&nbsp; 6063125 | &nbsp;&nbsp; 2699 | &nbsp;&nbsp; 92512 |
| Class R4 | (27866)<br>| &nbsp;&nbsp; (1179440)<br>| &nbsp;&nbsp; 6157 | &nbsp;&nbsp; 205384 |
| Class R6 | (17804815)<br>| &nbsp;&nbsp; (790163117)<br>| &nbsp;&nbsp; (5755319)<br>| &nbsp;&nbsp; (219244717)<br>|
|  | (17012301)<br>| &nbsp;&nbsp; $(755089168)<br>| &nbsp;&nbsp; (5904371)<br>| &nbsp;&nbsp; $(223693279)<br>|

---

The fund is one of several mutual funds in which certain MFS funds may invest. The MFS funds do not invest in the underlying funds for the purpose of exercising management or control. At the end of the period, the MFS International Diversification Fund and the MFS Growth Allocation Fund were the owners of record of approximately 81% and 1%, respectively, of the value of outstanding voting shares of the fund. In addition, the MFS Aggressive Growth Allocation Fund, the MFS Lifetime 2035 Fund, the MFS Lifetime 2040 Fund, the MFS Lifetime 2045 Fund, the MFS Lifetime 2050 Fund, the MFS Lifetime 2055 Fund, the MFS Lifetime 2060 Fund, the MFS Lifetime 2065 Fund, and the MFS Moderate Allocation Fund were each the owners of record of less than 1% of the value of the outstanding voting shares of the fund.

Effective June 1, 2019, purchases of the fund's Class B shares were closed to new and existing investors subject to certain exceptions. Effective September 29, 2023, purchases of the fund's Class R1 and Class R2 shares were closed to new eligible investors.

**(6) Line of Credit**

The fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by the fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate) plus 0.10%, 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 12, 2026 unless extended or renewed. In addition, the fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the six months ended November 30, 2025, the fund's commitment fee and interest expense were $20,365 and $0, respectively, and are included in "Miscellaneous" expense in the Statement of Operations.

**(7) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the six months ended November 30, 2025:

------

MFS Emerging Markets Equity Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br> **or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| MFS Institutional Money Market Portfolio | $109270703 | $1557065966 | $1498655894 | $16963 | $18066 | $167715804 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; $2502348 | $— |

---

**(8) Russia and Ukraine Conflict**

The fund invests in securities and/or derivative instruments that are economically tied to Russia and/or Ukraine. Escalation of the conflict between Russia and Ukraine in late February 2022 caused market volatility and disruption in the tradability of Russian securities, including closure of the local securities market, temporary restriction on securities sales by non-residents, and disruptions to clearance and payment systems. To the extent that the fund is unable to sell securities, whether due to market constraints or to the sanctions imposed on Russia by the United States and other countries, those securities are considered illiquid and the value of those securities reflects their illiquid classification. Additionally, since there is no assurance on collectability of dividends declared by certain Russian issuers, all such dividends, related receivables, and/or currency denominated in Rubles, if applicable, have been valued at $0. Management continues to monitor these events and to evaluate the related impacts on fund performance.

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Emerging Markets Equity Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Emerging Markets Equity Fund.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

This information is disclosed as part of the financial statements included in Item 7 above for MFS Emerging Markets Equity Fund. See the Statement of Operations and Note 3 within the Notes to Financial Statements for more information.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

------

MFS Emerging Markets Equity Fund

**Board Review of Investment Advisory Agreement**

**MFS Emerging Markets Equity Fund**

The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested ("independent") Trustees, voting separately, annually approve the continuation of the Fund's investment advisory agreement with MFS. The Trustees consider matters bearing on the Fund and its advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2025 ("contract review meetings") for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Fund and the other investment companies that the Board oversees (the "MFS Funds"). The independent Trustees were assisted in their evaluation of the Fund's investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.

In connection with their deliberations regarding the continuation of the investment advisory agreement, the Trustees, including the independent Trustees, considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The investment advisory agreement for the Fund was considered separately, although the Trustees also took into account the common interests of all MFS Funds in their review. As described below, the Trustees considered the nature, quality, and extent of the various investment advisory, administrative, and shareholder services performed by MFS under the existing investment advisory agreement and other arrangements with the Fund.

In connection with their contract review meetings, the Trustees received and relied upon materials that included, among other items: (i) information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent third party, on the investment performance of the Fund for various time periods ended December 31, 2024 and the investment performance of a group of funds with substantially similar investment classifications/objectives (the "Broadridge performance universe"), (ii) information provided by Broadridge on the Fund's advisory fees and other expenses and the advisory fees and other expenses of comparable funds identified by Broadridge as well as all other funds in the same investment classification/category (the "Broadridge expense group and universe"), (iii) information provided by MFS on the advisory fees of portfolios of other clients of MFS, including institutional separate accounts and other clients, (iv) information as to whether and to what extent applicable expense waivers, reimbursements or fee "breakpoints" are observed for the Fund, (v) information regarding MFS' financial results and financial condition, including MFS' and certain of its affiliates' estimated profitability from services performed for the Fund and the MFS Funds as a whole, and compared to MFS' institutional business, (vi) MFS' views regarding the outlook for the mutual fund industry and the strategic business plans of MFS, (vii) descriptions of various functions performed by MFS for the Funds, such as compliance monitoring and portfolio trading practices, and (viii) information regarding the overall organization of MFS, including information about MFS' senior management and other personnel providing investment advisory, administrative and other services to the Fund and the other MFS Funds. The comparative performance, fee and expense information prepared and provided by Broadridge was not independently verified and the independent Trustees did not independently verify any information provided to them by MFS.

The Trustees' conclusion as to the continuation of the investment advisory agreement was based on a comprehensive consideration of all information provided to the Trustees and not the result of any single factor. Some of the factors that figured particularly in the Trustees' deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. It is also important to recognize that the fee arrangements for the Fund and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees' conclusions may be based, in part, on their consideration of these same arrangements during the course of the year and in prior years.

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 4th quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 1st quintile for the one-year period and the 2nd quintile for the three-year period ended December 31, 2024 relative to the Broadridge performance universe. Because of the passage of time, these performance results may differ from the performance results for more recent periods, including those shown elsewhere in this report.

------

MFS Emerging Markets Equity Fund

*Board Review of Investment Advisory Agreement - continued*

In the course of their deliberations, the Trustees took into account information provided by MFS in connection with the contract review meetings, as well as during investment review meetings conducted with portfolio management personnel during the course of the year regarding the Fund's performance. In addition, the Trustees considered the Fund's recent improved relative performance for the one- and three-year periods ended February 28, 2025. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that they were satisfied with MFS' responses and efforts relating to investment performance.

In assessing the reasonableness of the Fund's advisory fee, the Trustees considered, among other information, the Fund's advisory fee and the total expense ratio of the Fund's Class I shares as a percentage of average daily net assets and the advisory fee and total expense ratios of the Broadridge expense group based on information provided by Broadridge. The Trustees considered that MFS currently observes an expense limitation for the Fund, which may not be changed without the Trustees' approval. The Trustees also considered that, according to the data provided by Broadridge (which takes into account any fee reductions or expense limitations that were in effect during the Fund's last fiscal year), the Fund's effective advisory fee rate was lower than the Broadridge expense group median and the Fund's total expense ratio was approximately at the Broadridge expense group median.

The Trustees also considered the advisory fees charged by MFS to any institutional separate accounts advised by MFS ("separate accounts") and unaffiliated investment companies for which MFS serves as subadviser ("subadvised funds") that have comparable investment strategies to the Fund, if any. In comparing these fees, the Trustees considered information provided by MFS as to the generally broader scope of services provided by MFS to the Fund, as well as the more extensive regulatory burdens imposed on MFS in managing the Fund, in comparison to separate accounts and subadvised funds. The Trustees also considered the higher demands placed on MFS' investment personnel and trading infrastructure as a result of the daily cash in-flows and out-flows of the Fund in comparison to separate accounts.

The Trustees also considered whether the Fund may benefit from any economies of scale in the management of the Fund in the event of growth in assets of the Fund and/or growth in assets of the MFS Funds as a whole. They noted that the Fund's advisory fee rate schedule is subject to contractual breakpoints that reduce the Fund's advisory fee rate on average daily net assets over $500 million, $1 billion, $4 billion and $10 billion. The Trustees also noted that MFS has agreed in writing to waive a portion of the management fees of certain MFS Funds, including the Fund, if the total combined assets of certain funds within the MFS Funds' complex increase above agreed upon thresholds (the "group fee waiver"), enabling the Fund's shareholders to share in the benefits from any economies of scale at the complex level. The group fee waiver is reviewed and renewed annually between the Board and MFS. The Trustees concluded that the breakpoints and the group fee waiver were sufficient to allow the Fund to benefit from economies of scale as its assets and overall complex assets grow.

The Trustees also considered information prepared by MFS relating to MFS' costs and profits with respect to the Fund, the MFS Funds considered as a group, and other investment companies and accounts advised by MFS, as well as MFS' methodologies used to determine and allocate its costs to the MFS Funds, the Fund and other accounts and products for purposes of estimating profitability.

After reviewing these and other factors described herein, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that the advisory fees charged to the Fund represent reasonable compensation in light of the services being provided by MFS to the Fund.

In addition, the Trustees considered MFS' resources and related efforts to continue to retain, attract and motivate capable personnel to serve the Fund. The Trustees also considered current and developing conditions in the financial services industry, including the presence of large and well-capitalized companies which are spending, and appear to be prepared to continue to spend, substantial sums to engage personnel and to provide services to competing investment companies. In this regard, the Trustees also considered the financial resources of MFS and its ultimate parent, Sun Life Financial Inc. The Trustees also considered the advantages and possible disadvantages to the Fund of having an adviser that also serves other investment companies as well as other accounts.

The Trustees also considered the nature, quality, cost, and extent of administrative, transfer agency, and distribution services provided to the Fund by MFS and its affiliates under agreements and plans other than the investment advisory agreement, including any 12b-1 fees the Fund pays to MFS Fund Distributors, Inc., an affiliate of MFS. The Trustees also considered the nature, extent and quality of certain other services MFS performs or arranges for on the Fund's behalf, which may include securities lending programs, directed expense payment programs, class action recovery programs, and MFS' interaction with third-party service providers, principally custodians and sub-custodians. The Trustees concluded that the various non-advisory services provided by MFS and its affiliates on behalf of the Fund were satisfactory.

The Trustees considered so-called "fall-out benefits" to MFS such as reputational value derived from serving as investment manager to the MFS Funds. The Trustees also considered that MFS discontinued its historic practice of obtaining investment research from portfolio brokerage commissions paid by certain MFS Funds effective January 2018, and directly pays or voluntarily reimburses a Fund, if applicable, for the costs of external research acquired through the use of the Fund's portfolio brokerage commissions.

------

MFS Emerging Markets Equity Fund

*Board Review of Investment Advisory Agreement - continued*

Based on their evaluation of factors that they deemed to be material, including those factors described above, the Board of Trustees, including the independent Trustees, concluded that the Fund's investment advisory agreement with MFS should be continued for an additional one-year period, commencing August 1, 2025.

------

MFS International Growth Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS International Growth Fund

**Portfolio of Investments - 11/30/25 (unaudited)**

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – 96.9% | Common Stocks – 96.9% | Common Stocks – 96.9% |
| Aerospace & Defense – 2.2% | Aerospace & Defense – 2.2% |  |
| Rolls-Royce Holdings PLC | 30124627 | &nbsp;&nbsp; $426132667 |
| Singapore Technologies Engineering Ltd. | 7866700 | &nbsp;&nbsp; 50386704 |
|  |  | &nbsp;&nbsp; $476519371 |
| Alcoholic Beverages – 3.6% | Alcoholic Beverages – 3.6% |  |
| Diageo PLC | 8725405 | &nbsp;&nbsp; $200568215 |
| Heineken N.V. | 5569625 | &nbsp;&nbsp; 453416470 |
| Pernod Ricard S.A. | 1522901 | &nbsp;&nbsp; 137050120 |
|  |  | &nbsp;&nbsp; $791034805 |
| Apparel Manufacturers – 2.6% | Apparel Manufacturers – 2.6% |  |
| Burberry Group PLC (a) | 4113889 | &nbsp;&nbsp; $62089591 |
| LVMH Moet Hennessy Louis Vuitton SE | 690704 | &nbsp;&nbsp; 509173154 |
|  |  | &nbsp;&nbsp; $571262745 |
| Brokerage & Asset Managers – 4.0% | Brokerage & Asset Managers – 4.0% |  |
| B3 S.A. - Brasil Bolsa Balcao | 70024600 | &nbsp;&nbsp; $196385249 |
| Banco BTG Pactual S.A. | 12180209 | &nbsp;&nbsp; 123303423 |
| Deutsche Boerse AG | 1275452 | &nbsp;&nbsp; 341030342 |
| London Stock Exchange Group PLC | 1066396 | &nbsp;&nbsp; 125820270 |
| XP, Inc. | 5059295 | &nbsp;&nbsp; 99718705 |
|  |  | &nbsp;&nbsp; $886257989 |
| Business Services – 4.1% | Business Services – 4.1% |  |
| Compass Group PLC | 5847276 | &nbsp;&nbsp; $183704661 |
| Experian PLC | 5537053 | &nbsp;&nbsp; 243703025 |
| Nomura Research Institute Ltd. | 6242100 | &nbsp;&nbsp; 249220260 |
| OBIC Co. Ltd. | 5714600 | &nbsp;&nbsp; 183801212 |
| Sodexo | 960962 | &nbsp;&nbsp; 50764161 |
|  |  | &nbsp;&nbsp; $911193319 |
| Chemicals – 0.5% | Chemicals – 0.5% |  |
| UPL Ltd. | 13720654 | &nbsp;&nbsp; $116371885 |
| Computer Software – 5.9% | Computer Software – 5.9% |  |
| Dassault Systemes SE | 9248640 | &nbsp;&nbsp; $258662254 |
| Kingsoft Corp. | 14131000 | &nbsp;&nbsp; 51980765 |
| Oracle Corp. Japan | 1339700 | &nbsp;&nbsp; 115188116 |
| SAP SE | 2732098 | &nbsp;&nbsp; 660943658 |
| Totvs S.A. | 16050500 | &nbsp;&nbsp; 128783128 |
| Wisetech Global Ltd. | 1792628 | &nbsp;&nbsp; 85737966 |
|  |  | &nbsp;&nbsp; $1301295887 |

---

FGFFS-SEM

------

MFS International Growth Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Computer Software - Systems – 5.8% | Computer Software - Systems – 5.8% |  |
| Amadeus IT Group S.A. | 5514964 | &nbsp;&nbsp; $405208655 |
| Cap Gemini S.A. | 2014633 | &nbsp;&nbsp; 315024120 |
| Hitachi Ltd. | 17141000 | &nbsp;&nbsp; 545385475 |
|  |  | &nbsp;&nbsp; $1265618250 |
| Construction – 1.4% | Construction – 1.4% |  |
| James Hardie Industries PLC, GDR (a) | 6498441 | &nbsp;&nbsp; $129269225 |
| Kingspan Group PLC | 798219 | &nbsp;&nbsp; 68380226 |
| Sika AG | 518756 | &nbsp;&nbsp; 102194868 |
|  |  | &nbsp;&nbsp; $299844319 |
| Consumer Products – 2.9% | Consumer Products – 2.9% |  |
| AmorePacific Corp. | 1160646 | &nbsp;&nbsp; $98098322 |
| Haleon PLC | 37618023 | &nbsp;&nbsp; 184801163 |
| Reckitt Benckiser Group PLC | 4624279 | &nbsp;&nbsp; 358426610 |
|  |  | &nbsp;&nbsp; $641326095 |
| Electrical Equipment – 3.5% | Electrical Equipment – 3.5% |  |
| Schneider Electric SE | 2870970 | &nbsp;&nbsp; $769305090 |
| Electronics – 5.8% | Electronics – 5.8% |  |
| ASML Holding N.V. | 250361 | &nbsp;&nbsp; $262364297 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 22220000 | &nbsp;&nbsp; 1019493389 |
|  |  | &nbsp;&nbsp; $1281857686 |
| Energy - Independent – 1.1% | Energy - Independent – 1.1% |  |
| Canadian Natural Resources Ltd. | 2251180 | &nbsp;&nbsp; $76196759 |
| Reliance Industries Ltd. | 9840321 | &nbsp;&nbsp; 172444207 |
|  |  | &nbsp;&nbsp; $248640966 |
| Food & Beverages – 3.0% | Food & Beverages – 3.0% |  |
| Nestle S.A. | 6595362 | &nbsp;&nbsp; $655431033 |
| Food & Drug Stores – 0.5% | Food & Drug Stores – 0.5% |  |
| Sugi Holdings Co. Ltd. | 4304600 | &nbsp;&nbsp; $101618775 |
| Gaming & Lodging – 2.4% | Gaming & Lodging – 2.4% |  |
| Aristocrat Leisure Ltd. | 4027111 | &nbsp;&nbsp; $153886740 |
| Flutter Entertainment PLC (a) | 1067302 | &nbsp;&nbsp; 222863331 |
| Lottery Corp. Ltd. | 10259514 | &nbsp;&nbsp; 36758289 |
| Sands China Ltd. | 40545200 | &nbsp;&nbsp; 110400760 |
|  |  | &nbsp;&nbsp; $523909120 |
| Insurance – 2.7% | Insurance – 2.7% |  |
| AIA Group Ltd. | 57489400 | &nbsp;&nbsp; $595140594 |
| Interactive Media Services – 1.1% | Interactive Media Services – 1.1% |  |
| LY Corp. | 32717300 | &nbsp;&nbsp; $88110828 |
| NAVER Corp. | 911010 | &nbsp;&nbsp; 151148431 |
|  |  | &nbsp;&nbsp; $239259259 |

---

------

MFS International Growth Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Internet – 0.4% | Internet – 0.4% |  |
| Mercadolibre, Inc. (a) | 44283 | &nbsp;&nbsp; $91744634 |
| Leisure & Toys – 2.4% | Leisure & Toys – 2.4% |  |
| Tencent Holdings Ltd. | 6814800 | &nbsp;&nbsp; $535237252 |
| Machinery & Tools – 7.0% | Machinery & Tools – 7.0% |  |
| Assa Abloy AB | 11504254 | &nbsp;&nbsp; $436971436 |
| Atlas Copco AB, "A" | 9894401 | &nbsp;&nbsp; 167894443 |
| Delta Electronics, Inc. | 8686000 | &nbsp;&nbsp; 257936976 |
| GEA Group AG | 4373607 | &nbsp;&nbsp; 296285621 |
| RB Global, Inc. | 3943633 | &nbsp;&nbsp; 386417606 |
|  |  | &nbsp;&nbsp; $1545506082 |
| Major Banks – 1.4% | Major Banks – 1.4% |  |
| DBS Group Holdings Ltd. | 7388040 | &nbsp;&nbsp; $309010895 |
| Medical Equipment – 3.4% | Medical Equipment – 3.4% |  |
| EssilorLuxottica | 657295 | &nbsp;&nbsp; $235372072 |
| QIAGEN N.V. | 4415371 | &nbsp;&nbsp; 210635265 |
| Sonova Holding AG | 470794 | &nbsp;&nbsp; 117273595 |
| Terumo Corp. | 11422100 | &nbsp;&nbsp; 178493173 |
|  |  | &nbsp;&nbsp; $741774105 |
| Metals & Mining – 0.5% | Metals & Mining – 0.5% |  |
| Glencore PLC | 24104644 | &nbsp;&nbsp; $115191159 |
| Natural Gas - Distribution – 0.3% | Natural Gas - Distribution – 0.3% |  |
| China Resources Gas Group Ltd. | 21179300 | &nbsp;&nbsp; $62076039 |
| Oil Services – 0.5% | Oil Services – 0.5% |  |
| Tenaris S.A. | 4896408 | &nbsp;&nbsp; $98715498 |
| Other Banks & Diversified Financials – 5.6% | Other Banks & Diversified Financials – 5.6% |  |
| Credicorp Ltd. | 1009700 | &nbsp;&nbsp; $259704937 |
| Element Fleet Management Corp. | 9412267 | &nbsp;&nbsp; 250809649 |
| Grupo Financiero Banorte S.A. de C.V. | 18352860 | &nbsp;&nbsp; 175466698 |
| HDFC Bank Ltd. | 32760034 | &nbsp;&nbsp; 369032228 |
| Kasikornbank PLC | 15260600 | &nbsp;&nbsp; 88401985 |
| Kotak Mahindra Bank Ltd. | 3688040 | &nbsp;&nbsp; 87591852 |
|  |  | &nbsp;&nbsp; $1231007349 |
| Pharmaceuticals – 8.1% | Pharmaceuticals – 8.1% |  |
| AstraZeneca PLC | 3199329 | &nbsp;&nbsp; $592149735 |
| Daiichi Sankyo Co. Ltd. | 10377800 | &nbsp;&nbsp; 256819644 |
| Merck KGaA | 928644 | &nbsp;&nbsp; 124958332 |
| Novo Nordisk A.S., "B" | 2709597 | &nbsp;&nbsp; 133413415 |
| Roche Holding AG | 1764785 | &nbsp;&nbsp; 675332888 |
|  |  | &nbsp;&nbsp; $1782674014 |

---

------

MFS International Growth Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Precious Metals & Minerals – 5.0% | Precious Metals & Minerals – 5.0% |  |
| Agnico Eagle Mines Ltd. | 2920928 | &nbsp;&nbsp; $509675437 |
| Franco-Nevada Corp. | 2162100 | &nbsp;&nbsp; 452104295 |
| Northern Star Resources Ltd. Co. | 7644892 | &nbsp;&nbsp; 136001060 |
|  |  | &nbsp;&nbsp; $1097780792 |
| Restaurants – 0.5% | Restaurants – 0.5% |  |
| Yum China Holdings, Inc. | 1691012 | &nbsp;&nbsp; $81405317 |
| Yum China Holdings, Inc. | 721750 | &nbsp;&nbsp; 34799886 |
|  |  | &nbsp;&nbsp; $116205203 |
| Specialty Chemicals – 6.2% | Specialty Chemicals – 6.2% |  |
| Air Liquide S.A. | 2071663 | &nbsp;&nbsp; $396804658 |
| Akzo Nobel N.V. | 1557033 | &nbsp;&nbsp; 101217106 |
| Linde PLC | 1046401 | &nbsp;&nbsp; 429359258 |
| Resonac Holdings Corp. | 4825600 | &nbsp;&nbsp; 201689930 |
| Symrise AG | 2958868 | &nbsp;&nbsp; 245202565 |
|  |  | &nbsp;&nbsp; $1374273517 |
| Specialty Stores – 2.5% | Specialty Stores – 2.5% |  |
| Alibaba Group Holding Ltd. | 9447800 | &nbsp;&nbsp; $183840029 |
| Nitori Co. Ltd. | 7264600 | &nbsp;&nbsp; 125713777 |
| Pan Pacific International Holdings Corp. | 20709365 | &nbsp;&nbsp; 125617008 |
| Zalando SE (a) | 4287894 | &nbsp;&nbsp; 115395799 |
|  |  | &nbsp;&nbsp; $550566613 |
| **Total Common Stocks (Identified Cost, $15,377,602,776)** |  | &nbsp;&nbsp; **$21327650340** |
| Mutual Funds (h) – 2.9% | Mutual Funds (h) – 2.9% | Mutual Funds (h) – 2.9% |
| Money Market Funds – 2.9% | Money Market Funds – 2.9% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) (Identified Cost, $635,195,447) | 635142892 | &nbsp;&nbsp; $635269921 |
| Other Assets, Less Liabilities – 0.2% |  | &nbsp;&nbsp; 39573896 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$22002494157** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $635,269,921 and $21,327,650,340, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

The following abbreviations are used in this report and are defined: <br> GDR Global Depositary Receipt

**See Notes to Financial Statements**

------

MFS International Growth Fund

**Financial Statements** \| **Statement of Assets and Liabilities**

This statement represents your fund's balance sheet, which details the assets and liabilities comprising the total value of the fund.

---

| | |
|:---|:---|
| **At 11/30/25 (unaudited)**<br> **Assets**<br>|  |
| Investments in unaffiliated issuers, at value (identified cost, $15,377,602,776) | &nbsp;&nbsp; $21327650340 |
| Investments in affiliated issuers, at value (identified cost, $635,195,447) | &nbsp;&nbsp; 635269921 |
| Cash | &nbsp;&nbsp; 1419958 |
| Foreign currency, at value (identified cost, $4,908,066) | &nbsp;&nbsp; 4911717 |
| Receivables for |  |
| Investments sold | &nbsp;&nbsp; 47444479 |
| Fund shares sold | &nbsp;&nbsp; 23316925 |
| Interest and dividends | &nbsp;&nbsp; 63282657 |
| Other assets | &nbsp;&nbsp; 21533 |
| Total assets | &nbsp;&nbsp; $22103317530 |
| **Liabilities** |  |
| Payables for |  |
| Investments purchased | &nbsp;&nbsp; $44259916 |
| Fund shares reacquired | &nbsp;&nbsp; 6174361 |
| Payable to affiliates |  |
| Investment adviser | &nbsp;&nbsp; 1924742 |
| Administrative services fee | &nbsp;&nbsp; 7507 |
| Shareholder servicing costs | &nbsp;&nbsp; 2163496 |
| Distribution and service fees | &nbsp;&nbsp; 45219 |
| Payable for independent Trustees' compensation | &nbsp;&nbsp; 6026 |
| Deferred foreign capital gains tax expense payable | &nbsp;&nbsp; 44932245 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 1309861 |
| Total liabilities | &nbsp;&nbsp; $100823373 |
| Net assets | &nbsp;&nbsp; $22002494157 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $14598417772 |
| Total distributable earnings (loss) | &nbsp;&nbsp; 7404076385 |
| Net assets | &nbsp;&nbsp; $22002494157 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 426461489 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | &nbsp;&nbsp; **Shares** <br>**outstanding**<br>| &nbsp;&nbsp; **Net asset value** <br>**per share (a)**<br>|
| Class A | &nbsp;&nbsp;&nbsp; $783213043 | &nbsp;&nbsp;&nbsp; 15873048 | &nbsp;&nbsp;&nbsp; $49.34 |
| Class B | &nbsp;&nbsp;&nbsp; 472714 | &nbsp;&nbsp;&nbsp; 10406 | &nbsp;&nbsp;&nbsp;&nbsp;45.43 |
| Class C | &nbsp;&nbsp;&nbsp; 26926691 | &nbsp;&nbsp;&nbsp; 619243 | &nbsp;&nbsp;&nbsp;&nbsp;43.48 |
| Class I | &nbsp;&nbsp;&nbsp; 6518214348 | &nbsp;&nbsp;&nbsp; 114834659 | &nbsp;&nbsp;&nbsp;&nbsp;56.76 |
| Class R1 | &nbsp;&nbsp;&nbsp; 10140077 | &nbsp;&nbsp;&nbsp; 241157 | &nbsp;&nbsp;&nbsp;&nbsp;42.05 |
| Class R2 | &nbsp;&nbsp;&nbsp; 19783401 | &nbsp;&nbsp;&nbsp; 450157 | &nbsp;&nbsp;&nbsp;&nbsp;43.95 |
| Class R3 | &nbsp;&nbsp;&nbsp; 356863116 | &nbsp;&nbsp;&nbsp; 7312155 | &nbsp;&nbsp;&nbsp;&nbsp;48.80 |
| Class R4 | &nbsp;&nbsp;&nbsp; 133887695 | &nbsp;&nbsp;&nbsp; 2691703 | &nbsp;&nbsp;&nbsp;&nbsp;49.74 |
| Class R6 | &nbsp;&nbsp;&nbsp; 14152993072 | &nbsp;&nbsp;&nbsp; 284428961 | &nbsp;&nbsp;&nbsp;&nbsp;49.76 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Maximum offering price per share was equal to the net asset value per share for all
 share classes, except for Class A, for which the maximum offering price per share was $52.35 [100 / 94.25 x $49.34]. On sales of $50,000 or
 more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class
 A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and
 R6.

**See Notes to Financial Statements**

------

MFS International Growth Fund

**Financial Statements** \| **Statement of Operations**

This statement describes how much your fund earned in investment income and accrued in expenses. It also describes any gains and/or losses generated by fund operations.

---

| | |
|:---|:---|
| **Six months ended 11/30/25 (unaudited)**<br> **Net investment income (loss)**<br>|  |
| Income |  |
| Dividends from unaffiliated issuers | &nbsp;&nbsp; $116775818 |
| Dividends from affiliated issuers | &nbsp;&nbsp; 8465091 |
| Income on securities loaned | &nbsp;&nbsp; 126445 |
| Interest | &nbsp;&nbsp; 2259 |
| Other | &nbsp;&nbsp; 1241 |
| Foreign taxes withheld | &nbsp;&nbsp; (10408673)<br>|
| Total investment income | &nbsp;&nbsp; $114962181 |
| Expenses |  |
| Management fee | &nbsp;&nbsp; $68289472 |
| Distribution and service fees | &nbsp;&nbsp; 1659850 |
| Shareholder servicing costs | &nbsp;&nbsp; 4357834 |
| Administrative services fee | &nbsp;&nbsp; 274774 |
| Independent Trustees' compensation | &nbsp;&nbsp; 84530 |
| Custodian fee | &nbsp;&nbsp; 1213352 |
| Shareholder communications | &nbsp;&nbsp; 243365 |
| Audit and tax fees | &nbsp;&nbsp; 56878 |
| Legal fees | &nbsp;&nbsp; 44682 |
| Miscellaneous | &nbsp;&nbsp; 443793 |
| Total expenses | &nbsp;&nbsp; $76668530 |
| Reduction of expenses by investment adviser and distributor | &nbsp;&nbsp; (1434602)<br>|
| Net expenses | &nbsp;&nbsp; $75233928 |
| Net investment income (loss) | &nbsp;&nbsp; $39728253 |
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Unaffiliated issuers (includes $21,669 foreign capital gains tax) | &nbsp;&nbsp; $629979517 |
| Affiliated issuers | &nbsp;&nbsp; (32224)<br>|
| Foreign currency | &nbsp;&nbsp; (1000367)<br>|
| Net realized gain (loss) | &nbsp;&nbsp; $628946926 |
| Change in unrealized appreciation or depreciation |  |
| Unaffiliated issuers (includes $12,474,009 increase in deferred foreign capital gains tax) | &nbsp;&nbsp; $667514320 |
| Affiliated issuers | &nbsp;&nbsp; 95694 |
| Translation of assets and liabilities in foreign currencies | &nbsp;&nbsp; 703505 |
| Net unrealized gain (loss) | &nbsp;&nbsp; $668313519 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $1297260445 |
| Change in net assets from operations | &nbsp;&nbsp; $1336988698 |

---

**See Notes to Financial Statements**

------

MFS International Growth Fund

**Financial Statements** \| **Statements of Changes in Net Assets**

These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions.

---

| | | |
|:---|:---|:---|
|  | **Six months ended** | **Year ended** |
|  | <br>**11/30/25** <br>**(unaudited)**<br>| <br>**5/31/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $39728253 | &nbsp;&nbsp; $220015044 |
| Net realized gain (loss) | 628946926 | &nbsp;&nbsp; 1572210905 |
| Net unrealized gain (loss) | 668313519 | &nbsp;&nbsp; 809422825 |
| Change in net assets from operations | $1336988698 | &nbsp;&nbsp; $2601648774 |
| Total distributions to shareholders | $— | &nbsp;&nbsp; $(965070999)<br>|
| Change in net assets from fund share transactions | $1526320554 | &nbsp;&nbsp; $915751263 |
| Total change in net assets | $2863309252 | &nbsp;&nbsp; $2552329038 |
| **Net assets** |  |  |
| At beginning of period | 19139184905 | &nbsp;&nbsp; 16586855867 |
| At end of period | $22002494157 | &nbsp;&nbsp; $19139184905 |

---

**See Notes to Financial Statements**

------

MFS International Growth Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years. Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class A**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $46.27 | &nbsp;&nbsp; $42.42 | &nbsp;&nbsp; $38.82 | &nbsp;&nbsp; $37.54 | &nbsp;&nbsp; $45.69 | &nbsp;&nbsp; $33.66 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.02 | &nbsp;&nbsp; $0.41 | &nbsp;&nbsp; $0.41 | &nbsp;&nbsp; $0.35 | &nbsp;&nbsp; $0.21 | &nbsp;&nbsp; $0.22 |
| Net realized and unrealized gain (loss) | 3.05 | &nbsp;&nbsp;&nbsp;&nbsp;5.91 | &nbsp;&nbsp;&nbsp;&nbsp;4.22 | &nbsp;&nbsp;&nbsp;&nbsp;1.90 | &nbsp;&nbsp; (5.48)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.05 |
| Total from investment operations | $3.07 | &nbsp;&nbsp; $6.32 | &nbsp;&nbsp; $4.63 | &nbsp;&nbsp; $2.25 | &nbsp;&nbsp; $(5.27)<br>| &nbsp;&nbsp; $12.27 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(0.31)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(0.24)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.93)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (2.56)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(2.47)<br>| &nbsp;&nbsp; $(1.03)<br>| &nbsp;&nbsp; $(0.97)<br>| &nbsp;&nbsp; $(2.88)<br>| &nbsp;&nbsp; $(0.24)<br>|
| Net asset value, end of period (x) | $49.34 | &nbsp;&nbsp; $46.27 | &nbsp;&nbsp; $42.42 | &nbsp;&nbsp; $38.82 | &nbsp;&nbsp; $37.54 | &nbsp;&nbsp; $45.69 |
| Total return (%) (r)(s)(t)(x) | 6.63<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.44 | &nbsp;&nbsp;&nbsp;&nbsp;12.11 | &nbsp;&nbsp;&nbsp;&nbsp;6.12 | &nbsp;&nbsp; (12.34)<br>| &nbsp;&nbsp;&nbsp;&nbsp;36.52 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.05<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 |
| Expenses after expense reductions | 1.03<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.05 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 |
| Net investment income (loss) | 0.08<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 |
| Portfolio turnover rate | 7<br> (n)<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 23 |
| Net assets at end of period (000 omitted) | $783213 | &nbsp;&nbsp; $713983 | &nbsp;&nbsp; $638324 | &nbsp;&nbsp; $626068 | &nbsp;&nbsp; $534840 | &nbsp;&nbsp; $650731 |

---

**See Notes to Financial Statements**

------

MFS International Growth Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class B**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $42.76 | &nbsp;&nbsp; $39.27 | &nbsp;&nbsp; $35.93 | &nbsp;&nbsp; $34.77 | &nbsp;&nbsp; $42.52 | &nbsp;&nbsp; $31.38 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.15)<br>| &nbsp;&nbsp; $0.02 | &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $0.00<br> (w)<br>| &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.09)<br>|
| Net realized and unrealized gain (loss) | 2.82 | &nbsp;&nbsp;&nbsp;&nbsp;5.53 | &nbsp;&nbsp;&nbsp;&nbsp;3.93 | &nbsp;&nbsp;&nbsp;&nbsp;1.82 | &nbsp;&nbsp; (5.06)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.23 |
| Total from investment operations | $2.67 | &nbsp;&nbsp; $5.55 | &nbsp;&nbsp; $4.00 | &nbsp;&nbsp; $1.82 | &nbsp;&nbsp; $(5.19)<br>| &nbsp;&nbsp; $11.14 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.11)<br>| $— | $— | $— |
| From net realized gain |  | &nbsp;&nbsp; (1.93)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (2.56)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(2.06)<br>| &nbsp;&nbsp; $(0.66)<br>| &nbsp;&nbsp; $(0.66)<br>| &nbsp;&nbsp; $(2.56)<br>| $— |
| Net asset value, end of period (x) | $45.43 | &nbsp;&nbsp; $42.76 | &nbsp;&nbsp; $39.27 | &nbsp;&nbsp; $35.93 | &nbsp;&nbsp; $34.77 | &nbsp;&nbsp; $42.52 |
| Total return (%) (r)(s)(t)(x) | 6.24<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.59 | &nbsp;&nbsp;&nbsp;&nbsp;11.25 | &nbsp;&nbsp;&nbsp;&nbsp;5.32 | &nbsp;&nbsp; (12.99)<br>| &nbsp;&nbsp;&nbsp;&nbsp;35.50 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.80<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.82 | &nbsp;&nbsp;&nbsp;&nbsp;1.86 | &nbsp;&nbsp;&nbsp;&nbsp;1.84 | &nbsp;&nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.82 |
| Expenses after expense reductions | 1.78<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.80 | &nbsp;&nbsp;&nbsp;&nbsp;1.85 | &nbsp;&nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 |
| Net investment income (loss) | (0.66)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp; 0.00<br> (w)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (0.24)<br>|
| Portfolio turnover rate | 7<br> (n)<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 23 |
| Net assets at end of period (000 omitted) | $473 | &nbsp;&nbsp; $539 | &nbsp;&nbsp; $786 | &nbsp;&nbsp; $1138 | &nbsp;&nbsp; $1559 | &nbsp;&nbsp; $2439 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class C**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $40.93 | &nbsp;&nbsp; $37.77 | &nbsp;&nbsp; $34.67 | &nbsp;&nbsp; $33.61 | &nbsp;&nbsp; $41.19 | &nbsp;&nbsp; $30.40 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.14)<br>| &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.10 | &nbsp;&nbsp; $0.03 | &nbsp;&nbsp; $(0.11)<br>| &nbsp;&nbsp; $(0.08)<br>|
| Net realized and unrealized gain (loss) | 2.69 | &nbsp;&nbsp;&nbsp;&nbsp;5.26 | &nbsp;&nbsp;&nbsp;&nbsp;3.75 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 | &nbsp;&nbsp; (4.91)<br>| &nbsp;&nbsp;&nbsp;&nbsp;10.87 |
| Total from investment operations | $2.55 | &nbsp;&nbsp; $5.32 | &nbsp;&nbsp; $3.85 | &nbsp;&nbsp; $1.76 | &nbsp;&nbsp; $(5.02)<br>| &nbsp;&nbsp; $10.79 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.23)<br>| &nbsp;&nbsp; $(0.20)<br>| &nbsp;&nbsp; $(0.04)<br>| &nbsp;&nbsp; $(0.00)(w)<br>| $— |
| From net realized gain |  | &nbsp;&nbsp; (1.93)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (2.56)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(2.16)<br>| &nbsp;&nbsp; $(0.75)<br>| &nbsp;&nbsp; $(0.70)<br>| &nbsp;&nbsp; $(2.56)<br>| $— |
| Net asset value, end of period (x) | $43.48 | &nbsp;&nbsp; $40.93 | &nbsp;&nbsp; $37.77 | &nbsp;&nbsp; $34.67 | &nbsp;&nbsp; $33.61 | &nbsp;&nbsp; $41.19 |
| Total return (%) (r)(s)(t)(x) | 6.23<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.59 | &nbsp;&nbsp;&nbsp;&nbsp;11.24 | &nbsp;&nbsp;&nbsp;&nbsp;5.33 | &nbsp;&nbsp; (12.99)<br>| &nbsp;&nbsp;&nbsp;&nbsp;35.49 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.80<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.82 | &nbsp;&nbsp;&nbsp;&nbsp;1.86 | &nbsp;&nbsp;&nbsp;&nbsp;1.84 | &nbsp;&nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.82 |
| Expenses after expense reductions | 1.78<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.80 | &nbsp;&nbsp;&nbsp;&nbsp;1.85 | &nbsp;&nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 |
| Net investment income (loss) | (0.67)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.21)<br>|
| Portfolio turnover rate | 7<br> (n)<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 23 |
| Net assets at end of period (000 omitted) | $26927 | &nbsp;&nbsp; $25273 | &nbsp;&nbsp; $25405 | &nbsp;&nbsp; $27498 | &nbsp;&nbsp; $30292 | &nbsp;&nbsp; $41907 |

---

**See Notes to Financial Statements**

------

MFS International Growth Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class I**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $53.16 | &nbsp;&nbsp; $48.36 | &nbsp;&nbsp; $44.10 | &nbsp;&nbsp; $42.50 | &nbsp;&nbsp; $51.32 | &nbsp;&nbsp; $37.75 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.09 | &nbsp;&nbsp; $0.62 | &nbsp;&nbsp; $0.60 | &nbsp;&nbsp; $0.48 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $0.39 |
| Net realized and unrealized gain (loss) | 3.51 | &nbsp;&nbsp;&nbsp;&nbsp;6.75 | &nbsp;&nbsp;&nbsp;&nbsp;4.77 | &nbsp;&nbsp;&nbsp;&nbsp;2.18 | &nbsp;&nbsp; (6.20)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.49 |
| Total from investment operations | $3.60 | &nbsp;&nbsp; $7.37 | &nbsp;&nbsp; $5.37 | &nbsp;&nbsp; $2.66 | &nbsp;&nbsp; $(5.83)<br>| &nbsp;&nbsp; $13.88 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.64)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(0.31)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.93)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (2.56)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(2.57)<br>| &nbsp;&nbsp; $(1.11)<br>| &nbsp;&nbsp; $(1.06)<br>| &nbsp;&nbsp; $(2.99)<br>| &nbsp;&nbsp; $(0.31)<br>|
| Net asset value, end of period (x) | $56.76 | &nbsp;&nbsp; $53.16 | &nbsp;&nbsp; $48.36 | &nbsp;&nbsp; $44.10 | &nbsp;&nbsp; $42.50 | &nbsp;&nbsp; $51.32 |
| Total return (%) (r)(s)(t)(x) | 6.77<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.74 | &nbsp;&nbsp;&nbsp;&nbsp;12.36 | &nbsp;&nbsp;&nbsp;&nbsp;6.37 | &nbsp;&nbsp; (12.10)<br>| &nbsp;&nbsp;&nbsp;&nbsp;36.85 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.79<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 |
| Expenses after expense reductions | 0.78<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.80 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;0.82 |
| Net investment income (loss) | 0.33<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;&nbsp;1.33 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 |
| Portfolio turnover rate | 7<br> (n)<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 23 |
| Net assets at end of period (000 omitted) | $6518214 | &nbsp;&nbsp; $5165308 | &nbsp;&nbsp; $4102118 | &nbsp;&nbsp; $3576683 | &nbsp;&nbsp; $3251727 | &nbsp;&nbsp; $3722298 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R1**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $39.58 | &nbsp;&nbsp; $36.63 | &nbsp;&nbsp; $33.69 | &nbsp;&nbsp; $32.73 | &nbsp;&nbsp; $40.23 | &nbsp;&nbsp; $29.72 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.14)<br>| &nbsp;&nbsp; $0.08 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.04 | &nbsp;&nbsp; $(0.08)<br>| &nbsp;&nbsp; $(0.06)<br>|
| Net realized and unrealized gain (loss) | 2.61 | &nbsp;&nbsp;&nbsp;&nbsp;5.08 | &nbsp;&nbsp;&nbsp;&nbsp;3.63 | &nbsp;&nbsp;&nbsp;&nbsp;1.66 | &nbsp;&nbsp; (4.81)<br>| &nbsp;&nbsp;&nbsp;&nbsp;10.62 |
| Total from investment operations | $2.47 | &nbsp;&nbsp; $5.16 | &nbsp;&nbsp; $3.74 | &nbsp;&nbsp; $1.70 | &nbsp;&nbsp; $(4.89)<br>| &nbsp;&nbsp; $10.56 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.25)<br>| &nbsp;&nbsp; $(0.08)<br>| &nbsp;&nbsp; $(0.05)<br>| &nbsp;&nbsp; $(0.05)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.93)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (2.56)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(2.21)<br>| &nbsp;&nbsp; $(0.80)<br>| &nbsp;&nbsp; $(0.74)<br>| &nbsp;&nbsp; $(2.61)<br>| &nbsp;&nbsp; $(0.05)<br>|
| Net asset value, end of period (x) | $42.05 | &nbsp;&nbsp; $39.58 | &nbsp;&nbsp; $36.63 | &nbsp;&nbsp; $33.69 | &nbsp;&nbsp; $32.73 | &nbsp;&nbsp; $40.23 |
| Total return (%) (r)(s)(t)(x) | 6.24<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.60 | &nbsp;&nbsp;&nbsp;&nbsp;11.25 | &nbsp;&nbsp;&nbsp;&nbsp;5.30 | &nbsp;&nbsp; (12.99)<br>| &nbsp;&nbsp;&nbsp;&nbsp;35.53 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.80<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.82 | &nbsp;&nbsp;&nbsp;&nbsp;1.86 | &nbsp;&nbsp;&nbsp;&nbsp;1.84 | &nbsp;&nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.83 |
| Expenses after expense reductions | 1.78<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.80 | &nbsp;&nbsp;&nbsp;&nbsp;1.84 | &nbsp;&nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 |
| Net investment income (loss) | (0.67)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.17)<br>|
| Portfolio turnover rate | 7<br> (n)<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 23 |
| Net assets at end of period (000 omitted) | $10140 | &nbsp;&nbsp; $9229 | &nbsp;&nbsp; $8136 | &nbsp;&nbsp; $7182 | &nbsp;&nbsp; $6895 | &nbsp;&nbsp; $7424 |

---

**See Notes to Financial Statements**

------

MFS International Growth Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R2**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $41.26 | &nbsp;&nbsp; $38.05 | &nbsp;&nbsp; $34.89 | &nbsp;&nbsp; $33.87 | &nbsp;&nbsp; $41.51 | &nbsp;&nbsp; $30.63 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.03)<br>| &nbsp;&nbsp; $0.25 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.21 | &nbsp;&nbsp; $0.10 | &nbsp;&nbsp; $0.10 |
| Net realized and unrealized gain (loss) | 2.72 | &nbsp;&nbsp;&nbsp;&nbsp;5.31 | &nbsp;&nbsp;&nbsp;&nbsp;3.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 | &nbsp;&nbsp; (4.96)<br>| &nbsp;&nbsp;&nbsp;&nbsp;10.97 |
| Total from investment operations | $2.69 | &nbsp;&nbsp; $5.56 | &nbsp;&nbsp; $4.05 | &nbsp;&nbsp; $1.94 | &nbsp;&nbsp; $(4.86)<br>| &nbsp;&nbsp; $11.07 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.26)<br>| &nbsp;&nbsp; $(0.22)<br>| &nbsp;&nbsp; $(0.19)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.93)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (2.56)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(2.35)<br>| &nbsp;&nbsp; $(0.89)<br>| &nbsp;&nbsp; $(0.92)<br>| &nbsp;&nbsp; $(2.78)<br>| &nbsp;&nbsp; $(0.19)<br>|
| Net asset value, end of period (x) | $43.95 | &nbsp;&nbsp; $41.26 | &nbsp;&nbsp; $38.05 | &nbsp;&nbsp; $34.89 | &nbsp;&nbsp; $33.87 | &nbsp;&nbsp; $41.51 |
| Total return (%) (r)(s)(t)(x) | 6.52<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.17 | &nbsp;&nbsp;&nbsp;&nbsp;11.78 | &nbsp;&nbsp;&nbsp;&nbsp;5.85 | &nbsp;&nbsp; (12.55)<br>| &nbsp;&nbsp;&nbsp;&nbsp;36.20 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.30<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.32 | &nbsp;&nbsp;&nbsp;&nbsp;1.37 | &nbsp;&nbsp;&nbsp;&nbsp;1.34 | &nbsp;&nbsp;&nbsp;&nbsp;1.33 | &nbsp;&nbsp;&nbsp;&nbsp;1.33 |
| Expenses after expense reductions | 1.28<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;&nbsp;1.35 | &nbsp;&nbsp;&nbsp;&nbsp;1.33 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 |
| Net investment income (loss) | (0.16)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.28 |
| Portfolio turnover rate | 7<br> (n)<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 23 |
| Net assets at end of period (000 omitted) | $19783 | &nbsp;&nbsp; $20737 | &nbsp;&nbsp; $22937 | &nbsp;&nbsp; $37317 | &nbsp;&nbsp; $34618 | &nbsp;&nbsp; $40886 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R3**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $45.76 | &nbsp;&nbsp; $41.98 | &nbsp;&nbsp; $38.45 | &nbsp;&nbsp; $37.20 | &nbsp;&nbsp; $45.30 | &nbsp;&nbsp; $33.38 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.02 | &nbsp;&nbsp; $0.41 | &nbsp;&nbsp; $0.43 | &nbsp;&nbsp; $0.38 | &nbsp;&nbsp; $0.21 | &nbsp;&nbsp; $0.23 |
| Net realized and unrealized gain (loss) | 3.02 | &nbsp;&nbsp;&nbsp;&nbsp;5.84 | &nbsp;&nbsp;&nbsp;&nbsp;4.15 | &nbsp;&nbsp;&nbsp;&nbsp;1.85 | &nbsp;&nbsp; (5.43)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.94 |
| Total from investment operations | $3.04 | &nbsp;&nbsp; $6.25 | &nbsp;&nbsp; $4.58 | &nbsp;&nbsp; $2.23 | &nbsp;&nbsp; $(5.22)<br>| &nbsp;&nbsp; $12.17 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(0.25)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.93)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (2.56)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(2.47)<br>| &nbsp;&nbsp; $(1.05)<br>| &nbsp;&nbsp; $(0.98)<br>| &nbsp;&nbsp; $(2.88)<br>| &nbsp;&nbsp; $(0.25)<br>|
| Net asset value, end of period (x) | $48.80 | &nbsp;&nbsp; $45.76 | &nbsp;&nbsp; $41.98 | &nbsp;&nbsp; $38.45 | &nbsp;&nbsp; $37.20 | &nbsp;&nbsp; $45.30 |
| Total return (%) (r)(s)(t)(x) | 6.64<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.43 | &nbsp;&nbsp;&nbsp;&nbsp;12.09 | &nbsp;&nbsp;&nbsp;&nbsp;6.11 | &nbsp;&nbsp; (12.33)<br>| &nbsp;&nbsp;&nbsp;&nbsp;36.55 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.05<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 |
| Expenses after expense reductions | 1.03<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 |
| Net investment income (loss) | 0.08<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.58 |
| Portfolio turnover rate | 7<br> (n)<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 23 |
| Net assets at end of period (000 omitted) | $356863 | &nbsp;&nbsp; $361387 | &nbsp;&nbsp; $316301 | &nbsp;&nbsp; $269664 | &nbsp;&nbsp; $149194 | &nbsp;&nbsp; $182926 |

---

**See Notes to Financial Statements**

------

MFS International Growth Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R4**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $46.58 | &nbsp;&nbsp; $42.68 | &nbsp;&nbsp; $39.03 | &nbsp;&nbsp; $37.74 | &nbsp;&nbsp; $45.91 | &nbsp;&nbsp; $33.79 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.08 | &nbsp;&nbsp; $0.57 | &nbsp;&nbsp; $0.50 | &nbsp;&nbsp; $0.41 | &nbsp;&nbsp; $0.33 | &nbsp;&nbsp; $0.31 |
| Net realized and unrealized gain (loss) | 3.08 | &nbsp;&nbsp;&nbsp;&nbsp;5.91 | &nbsp;&nbsp;&nbsp;&nbsp;4.25 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp; (5.51)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.12 |
| Total from investment operations | $3.16 | &nbsp;&nbsp; $6.48 | &nbsp;&nbsp; $4.75 | &nbsp;&nbsp; $2.35 | &nbsp;&nbsp; $(5.18)<br>| &nbsp;&nbsp; $12.43 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.65)<br>| &nbsp;&nbsp; $(0.55)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(0.31)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.93)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (2.56)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(2.58)<br>| &nbsp;&nbsp; $(1.10)<br>| &nbsp;&nbsp; $(1.06)<br>| &nbsp;&nbsp; $(2.99)<br>| &nbsp;&nbsp; $(0.31)<br>|
| Net asset value, end of period (x) | $49.74 | &nbsp;&nbsp; $46.58 | &nbsp;&nbsp; $42.68 | &nbsp;&nbsp; $39.03 | &nbsp;&nbsp; $37.74 | &nbsp;&nbsp; $45.91 |
| Total return (%) (r)(s)(t)(x) | 6.78<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.73 | &nbsp;&nbsp;&nbsp;&nbsp;12.37 | &nbsp;&nbsp;&nbsp;&nbsp;6.38 | &nbsp;&nbsp; (12.11)<br>| &nbsp;&nbsp;&nbsp;&nbsp;36.87 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.80<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 |
| Expenses after expense reductions | 0.78<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 |
| Net investment income (loss) | 0.35<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.29 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 |
| Portfolio turnover rate | 7<br> (n)<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 23 |
| Net assets at end of period (000 omitted) | $133888 | &nbsp;&nbsp; $158418 | &nbsp;&nbsp; $133781 | &nbsp;&nbsp; $237042 | &nbsp;&nbsp; $224116 | &nbsp;&nbsp; $273949 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R6**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $46.58 | &nbsp;&nbsp; $42.68 | &nbsp;&nbsp; $39.05 | &nbsp;&nbsp; $37.75 | &nbsp;&nbsp; $45.93 | &nbsp;&nbsp; $33.80 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.11 | &nbsp;&nbsp; $0.58 | &nbsp;&nbsp; $0.58 | &nbsp;&nbsp; $0.48 | &nbsp;&nbsp; $0.38 | &nbsp;&nbsp; $0.39 |
| Net realized and unrealized gain (loss) | 3.07 | &nbsp;&nbsp;&nbsp;&nbsp;5.95 | &nbsp;&nbsp;&nbsp;&nbsp;4.22 | &nbsp;&nbsp;&nbsp;&nbsp;1.93 | &nbsp;&nbsp; (5.51)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.08 |
| Total from investment operations | $3.18 | &nbsp;&nbsp; $6.53 | &nbsp;&nbsp; $4.80 | &nbsp;&nbsp; $2.41 | &nbsp;&nbsp; $(5.13)<br>| &nbsp;&nbsp; $12.47 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.70)<br>| &nbsp;&nbsp; $(0.62)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.49)<br>| &nbsp;&nbsp; $(0.34)<br>|
| From net realized gain |  | &nbsp;&nbsp; (1.93)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (2.56)<br>|  |
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(2.63)<br>| &nbsp;&nbsp; $(1.17)<br>| &nbsp;&nbsp; $(1.11)<br>| &nbsp;&nbsp; $(3.05)<br>| &nbsp;&nbsp; $(0.34)<br>|
| Net asset value, end of period (x) | $49.76 | &nbsp;&nbsp; $46.58 | &nbsp;&nbsp; $42.68 | &nbsp;&nbsp; $39.05 | &nbsp;&nbsp; $37.75 | &nbsp;&nbsp; $45.93 |
| Total return (%) (r)(s)(t)(x) | 6.83<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.88 | &nbsp;&nbsp;&nbsp;&nbsp;12.50 | &nbsp;&nbsp;&nbsp;&nbsp;6.53 | &nbsp;&nbsp; (12.01)<br>| &nbsp;&nbsp;&nbsp;&nbsp;37.00 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.69<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 |
| Expenses after expense reductions | 0.67<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 |
| Net investment income (loss) | 0.44<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.45 | &nbsp;&nbsp;&nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 |
| Portfolio turnover rate | 7<br> (n)<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 23 |
| Net assets at end of period (000 omitted) | $14152993 | &nbsp;&nbsp; $12684311 | &nbsp;&nbsp; $11339067 | &nbsp;&nbsp; $9798848 | &nbsp;&nbsp; $8329602 | &nbsp;&nbsp; $9597724 |

---

**See Notes to Financial Statements**

------

MFS International Growth Fund

*Financial Highlights - continued*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(w) Per share amount was less than $0.01 and total return or ratio was less than 0.01%,
 as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

MFS International Growth Fund

**Notes to Financial Statements (unaudited)**

**(1) Business and Organization**

MFS International Growth Fund (the fund) is a diversified series of MFS Series Trust X (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(2) Significant Accounting Policies**

**General** — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of the fund's Statement of Assets and Liabilities through the date that the financial statements were issued. The fund invests in foreign securities, including securities of emerging market issuers. Investments in foreign securities are vulnerable to the effects of changes in the relative values of the local currency and the U.S. dollar and to the effects of changes in each country's market, economic, industrial, political, regulatory, geopolitical, environmental, public health, and other conditions. Investments tied economically to emerging markets, especially frontier markets, can involve additional and greater risks than the risks associated with investments in developed markets. Emerging markets can have less developed markets, greater custody and operational risk, less developed legal, regulatory, and accounting systems, greater government involvement in the economy, greater risk of new or inconsistent government treatment of or restrictions on issuers and instruments, and greater political, social, geopolitical, and economic instability than developed markets.

**Operating Segments** — In this reporting period, the fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the fund's financial position or the results of its operations. An operating segment is a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the entity's chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available. The fund represents a single operating segment and the Chairman's Committee of the fund's adviser acts as the segment's CODM. The fund's total returns, expense ratios, and changes in net assets which are used by the CODM to assess segment performance and to make resource allocation decisions to the segment are consistent with that presented within the fund's financial statements.

**Balance Sheet Offsetting** — The fund's accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the International Swaps and Derivatives Association (ISDA) Master Agreement, or similar agreement, does not result in an offset of reported amounts of financial assets and financial liabilities in the Statement of Assets and Liabilities across transactions between the fund and the applicable counterparty. The fund's right to setoff may be restricted or prohibited by the bankruptcy or insolvency laws of the particular jurisdiction to which a specific master netting agreement counterparty is subject. Balance sheet offsetting disclosures, to the extent applicable to the fund, have been included in the fund's Significant Accounting Policies note under the captions for each of the fund's in-scope financial instruments and transactions.

**Investment Valuations** — Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

------

MFS International Growth Fund

*Notes to Financial Statements (unaudited) - continued* 

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund's net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund's foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of November 30, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities: |  |  |  |  |
| France | $2672155629 | $— | $— | $2672155629 |
| United Kingdom | 2492587096 |  |  | 2492587096 |
| Japan | 2171658198 |  |  | 2171658198 |
| Germany | 1994451582 |  |  | 1994451582 |
| Canada | 1675203746 |  |  | 1675203746 |
| Switzerland | 1550232384 |  |  | 1550232384 |
| Taiwan | 1277430365 |  |  | 1277430365 |
| China | 949339288 |  |  | 949339288 |
| Netherlands | 816997873 |  |  | 816997873 |
| Other Countries | 5639192194 | 88401985 |  | 5727594179 |
| Investment Companies | 635269921 |  |  | 635269921 |
| Total | $21874518276 | $88401985 | $— | $21962920261 |

---

For further information regarding security characteristics, see the Portfolio of Investments.

**Foreign Currency Translation** — Purchases and sales of foreign investments, income, and expenses are converted into U.S. dollars based upon currency exchange rates prevailing on the respective dates of such transactions or on the reporting date for foreign denominated receivables and payables. Gains and losses attributable to foreign currency exchange rates on sales of securities are recorded for financial statement purposes as net realized gains and losses on investments. Gains and losses attributable to foreign exchange rate movements on receivables, payables, income and expenses are recorded for financial statement purposes as foreign currency transaction gains and losses. That portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.

**Security Loans** — Under its Securities Lending Agency Agreement with the fund, Goldman Sachs Agency Lending, as lending agent, loans the securities of the fund to certain qualified institutions (the "Borrowers") approved by the fund. Security loans can be terminated at the discretion of either the lending agent or the fund and the related securities must be returned within the earlier of the standard trade settlement period for such securities or within five business days. The loans are collateralized by cash and/or U.S.

------

MFS International Growth Fund

*Notes to Financial Statements (unaudited) - continued* 

government securities in an amount typically at least equal to the market value of the securities loaned. On loans collateralized by cash, the cash collateral is invested in a money market fund. The market value of the loaned securities is determined at the close of business of the fund and any additional required collateral is delivered to the fund on the next business day. The lending agent provides the fund with indemnification against Borrower default. In the event of Borrower default, the lending agent will, for the benefit of the fund, either purchase securities identical to those loaned or pay the fund the market value of the loaned securities. In return, the lending agent assumes the fund's rights to the related collateral. If the collateral value is less than the cost to purchase identical securities or the cash needed to pay their market value, the lending agent is responsible for the shortfall, but only to the extent that such shortfall is not due to a decline in collateral value resulting from collateral reinvestment for which the fund bears the risk of loss. A portion of the income generated upon investment of the collateral is remitted to the Borrowers, and the remainder is allocated between the fund and the lending agent. On loans collateralized by U.S. government securities, a fee is received from the Borrower, and is allocated between the fund and the lending agent. Income from securities lending is separately reported in the Statement of Operations. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. At November 30, 2025, there were no securities on loan or collateral outstanding.

**Indemnifications** — Under the fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into agreements with service providers that may contain indemnification clauses. The fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against the fund that have not yet occurred.

**Investment Transactions and Income** — Interest income is recorded on the accrual basis. Dividends received in cash are recorded on the ex-dividend date. Certain dividends from foreign securities will be recorded when the fund is informed of the dividend if such information is obtained subsequent to the ex-dividend date. Dividend and interest payments received in additional securities are recorded on the ex-dividend or ex-interest date in an amount equal to the value of the security on such date.

The fund may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statement of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statement of Operations.

Investment transactions are recorded on the trade date. In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis.

**Tax Matters and Distributions** — The fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. The fund's federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for generally a three year period. Management has analyzed the fund's tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability. Foreign taxes, if any, have been accrued by the fund in the accompanying financial statements in accordance with the applicable foreign tax law. Foreign income taxes may be withheld by certain countries in which the fund invests. Additionally, capital gains realized by the fund on securities issued in or by certain foreign countries may be subject to capital gains tax imposed by those countries.

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.

Book/tax differences primarily relate to passive foreign investment companies, wash sale loss deferrals, treating a portion of the proceeds from redemptions as a distribution for tax purposes, and redemptions in-kind.

The tax character of distributions declared to shareholders for the last fiscal year is as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**5/31/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $259771194 |
| Long-term capital gains | &nbsp;&nbsp; 705299805 |
| Total distributions | &nbsp;&nbsp; $965070999 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

------

MFS International Growth Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | |
|:---|:---|
| **As of 11/30/25** |  |
| Cost of investments | &nbsp;&nbsp; $16159207879 |
| Gross appreciation | &nbsp;&nbsp; 6864391339 |
| Gross depreciation | &nbsp;&nbsp; (1060678957)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $5803712382 |
| **As of 5/31/25** |  |
| Undistributed ordinary income | &nbsp;&nbsp; 197457433 |
| Undistributed long-term capital gain | &nbsp;&nbsp; 777127600 |
| Other temporary differences | &nbsp;&nbsp; (31125704)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; 5123628358 |

---

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

**Multiple Classes of Shares of Beneficial Interest** — The fund offers multiple classes of shares, which differ in their respective distribution and service fees. The fund's income, realized and unrealized gain (loss), and common expenses are allocated to shareholders based on the daily net assets of each class. Dividends are declared separately for each class. Differences in per share dividend rates are generally due to differences in separate class expenses. Class B and Class C shares will convert to Class A shares approximately eight years after purchase. The fund's distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months** <br>**ended** <br>**11/30/25**<br>| **Year** <br>**ended** <br>**5/31/25**<br>|
| Class A | $— | &nbsp;&nbsp; $37417534 |
| Class B |  | &nbsp;&nbsp; 30603 |
| Class C |  | &nbsp;&nbsp; 1310793 |
| Class I |  | &nbsp;&nbsp; 221742786 |
| Class R1 |  | &nbsp;&nbsp; 475077 |
| Class R2 |  | &nbsp;&nbsp; 1204002 |
| Class R3 |  | &nbsp;&nbsp; 18097164 |
| Class R4 |  | &nbsp;&nbsp; 7217849 |
| Class R6 |  | &nbsp;&nbsp; 677575191 |
| Total | $— | &nbsp;&nbsp; $965070999 |

---

**(3) Transactions with Affiliates**

**Investment Adviser** — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. The management fee is computed daily and paid monthly at the following annual rates based on the fund's average daily net assets:

---

| | |
|:---|:---|
| Up to $1 billion | 0.90% |
| In excess of $1 billion and up to $2 billion | 0.80% |
| In excess of $2 billion and up to $5 billion | 0.70% |
| In excess of $5 billion and up to $10 billion | 0.65% |
| In excess of $10 billion and up to $20 billion | 0.62% |
| In excess of $20 billion | 0.60% |

---

MFS has agreed in writing to reduce its management fee by a specified amount if certain MFS mutual fund assets exceed thresholds agreed to by MFS and the fund's Board of Trustees. MFS has also agreed in writing to waive at least 0.01% of its management fee as part of this agreement. The agreement to waive at least 0.01% of the management fee will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this management fee reduction amounted to $1,434,429, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.65% of the fund's average daily net assets.

**Distributor** — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received $44,491 for the six months ended November 30, 2025, as its portion of the initial sales charge on sales of Class A shares of the fund.

------

MFS International Growth Fund

*Notes to Financial Statements (unaudited) - continued* 

The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.

The fund's distribution plan provides that the fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries. The distribution and service fees are computed daily and paid monthly.

**Distribution Plan Fee Table:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| Class A |  | 0.25% | 0.25% | 0.25% | $949269 |
| Class B | 0.75% | 0.25% | 1.00% | 1.00% | 2651 |
| Class C | 0.75% | 0.25% | 1.00% | 1.00% | 132860 |
| Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 48949 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 51186 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 474935 |
| Total Distribution and Service Fees  |  |  |  |  | $1659850 |

---

(d) In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each

class's average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting

period. Any rate changes, if applicable, are detailed below.

(e) The annual effective rates represent actual fees incurred under the distribution plan for the six months ended November 30, 2025 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended November 30, 2025, this rebate amounted to $162 and $11 for Class A and Class C shares, respectively, and is included in the reduction of total expenses in the Statement of Operations.

Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class B shares are subject to a CDSC in the event of a shareholder redemption within six years of purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD and during the six months ended November 30, 2025, were as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| Class A | $2773 |
| Class B |  |
| Class C | 1708 |

---

**Shareholder Servicing Agent** — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from the fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of the fund as determined periodically under the supervision of the fund's Board of Trustees. For the six months ended November 30, 2025, the fee was $310,651, which equated to 0.0030% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the six months ended November 30, 2025, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $4,047,183.

**Administrator** — MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to the fund. Under an administrative services agreement, the fund reimburses MFS the costs incurred to provide these services. The fund is charged an annual fixed amount of $17,500 plus a fee based on average daily net assets. The administrative services fee is computed daily and paid monthly. The administrative services fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.0027% of the fund's average daily net assets.

**Trustees' and Officers' Compensation** — The fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. Independent Trustees' compensation is accrued daily and paid subsequent to each Trustee Board meeting. The fund does not pay compensation directly to Trustees or officers of the fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to the fund. Certain officers and Trustees of the fund are officers or directors of MFS, MFD, and MFSC.

------

MFS International Growth Fund

*Notes to Financial Statements (unaudited) - continued* 

**Other** — The fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.

MFS purchased or redeemed fund shares on the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| 8/19/2024 | Redemption | Class I | 2 | $116 |
| 8/19/2024 | Redemption | Class R1 | 3 | 125 |
| 8/19/2024 | Redemption | Class R2 | 4 | 152 |
| 8/19/2024 | Redemption | Class R3 | 3 | 145 |
| 8/19/2024 | Redemption | Class R4 | 4 | 175 |

---

**(4) Portfolio Securities**

For the six months ended November 30, 2025, purchases and sales of investments, other than short-term obligations, aggregated $2,886,208,565 and $1,491,114,805, respectively.

**(5) Shares of Beneficial Interest** 

The fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** <br>**11/30/25** | **Six months ended** <br>**11/30/25** | **Year ended** <br>**5/31/25** | **Year ended** <br>**5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 1780016 | &nbsp;&nbsp; $85730760 | &nbsp;&nbsp; 3667631 | &nbsp;&nbsp; $161219246 |
| Class B | 615 | &nbsp;&nbsp; 27746 | &nbsp;&nbsp; 337 | &nbsp;&nbsp; 14128 |
| Class C | 84421 | &nbsp;&nbsp; 3590455 | &nbsp;&nbsp; 105340 | &nbsp;&nbsp; 4126144 |
| Class I | 28011932 | &nbsp;&nbsp; 1564444567 | &nbsp;&nbsp; 26476417 | &nbsp;&nbsp; 1325223864 |
| Class R1 | 26603 | &nbsp;&nbsp; 1099872 | &nbsp;&nbsp; 41773 | &nbsp;&nbsp; 1583697 |
| Class R2 | 53484 | &nbsp;&nbsp; 2317938 | &nbsp;&nbsp; 91770 | &nbsp;&nbsp; 3615146 |
| Class R3 | 975272 | &nbsp;&nbsp; 46383052 | &nbsp;&nbsp; 2453866 | &nbsp;&nbsp; 106933405 |
| Class R4 | 501177 | &nbsp;&nbsp; 24222150 | &nbsp;&nbsp; 1488723 | &nbsp;&nbsp; 65058239 |
| Class R6 | 31317244 | &nbsp;&nbsp; 1527080541 | &nbsp;&nbsp; 38081052 | &nbsp;&nbsp; 1679464721 |
|  | 62750764 | &nbsp;&nbsp; $3254897081 | &nbsp;&nbsp; 72406909 | &nbsp;&nbsp; $3347238590 |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A |  | $— | &nbsp;&nbsp; 604158 | &nbsp;&nbsp; $25567914 |
| Class B |  |  | &nbsp;&nbsp; 781 | &nbsp;&nbsp; 30603 |
| Class C |  |  | &nbsp;&nbsp; 31956 | &nbsp;&nbsp; 1200331 |
| Class I |  |  | &nbsp;&nbsp; 4270773 | &nbsp;&nbsp; 207388731 |
| Class R1 |  |  | &nbsp;&nbsp; 13081 | &nbsp;&nbsp; 475077 |
| Class R2 |  |  | &nbsp;&nbsp; 31540 | &nbsp;&nbsp; 1191557 |
| Class R3 |  |  | &nbsp;&nbsp; 432327 | &nbsp;&nbsp; 18097164 |
| Class R4 |  |  | &nbsp;&nbsp; 142468 | &nbsp;&nbsp; 6063517 |
| Class R6 |  |  | &nbsp;&nbsp; 14895646 | &nbsp;&nbsp; 633511927 |
|  |  | $— | &nbsp;&nbsp; 20422730 | &nbsp;&nbsp; $893526821 |

---

------

MFS International Growth Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **11/30/25** | **Six months ended**<br> **11/30/25** | **Year ended**<br> **5/31/25** | **Year ended**<br> **5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares reacquired |  |  |  |  |
| Class A | (1338138)<br>| &nbsp;&nbsp; $(64529405)<br>| &nbsp;&nbsp; (3890015)<br>| &nbsp;&nbsp; $(169123456)<br>|
| Class B | (2807)<br>| &nbsp;&nbsp; (127404)<br>| &nbsp;&nbsp; (8542)<br>| &nbsp;&nbsp; (347007)<br>|
| Class C | (82667)<br>| &nbsp;&nbsp; (3523330)<br>| &nbsp;&nbsp; (192436)<br>| &nbsp;&nbsp; (7522494)<br>|
| Class I | (10343658)<br>| &nbsp;&nbsp; (579566287)<br>| &nbsp;&nbsp; (18402221)<br>| &nbsp;&nbsp; (922232015)<br>|
| Class R1 | (18640)<br>| &nbsp;&nbsp; (767093)<br>| &nbsp;&nbsp; (43749)<br>| &nbsp;&nbsp; (1644177)<br>|
| Class R2 | (105895)<br>| &nbsp;&nbsp; (4553761)<br>| &nbsp;&nbsp; (223485)<br>| &nbsp;&nbsp; (8828850)<br>|
| Class R3 | (1559780)<br>| &nbsp;&nbsp; (74373989)<br>| &nbsp;&nbsp; (2524537)<br>| &nbsp;&nbsp; (108805745)<br>|
| Class R4 | (1210211)<br>| &nbsp;&nbsp; (59531724)<br>| &nbsp;&nbsp; (1364860)<br>| &nbsp;&nbsp; (60012049)<br>|
| Class R6 | (19221998)<br>| &nbsp;&nbsp; (941603534)<br>| &nbsp;&nbsp; (46316982)<br>| &nbsp;&nbsp; (2046498355)<br>|
|  | (33883794)<br>| &nbsp;&nbsp; $(1728576527)<br>| &nbsp;&nbsp; (72966827)<br>| &nbsp;&nbsp; $(3325014148)<br>|
| Net change |  |  |  |  |
| Class A | 441878 | &nbsp;&nbsp; $21201355 | &nbsp;&nbsp; 381774 | &nbsp;&nbsp; $17663704 |
| Class B | (2192)<br>| &nbsp;&nbsp; (99658)<br>| &nbsp;&nbsp; (7424)<br>| &nbsp;&nbsp; (302276)<br>|
| Class C | 1754 | &nbsp;&nbsp; 67125 | &nbsp;&nbsp; (55140)<br>| &nbsp;&nbsp; (2196019)<br>|
| Class I | 17668274 | &nbsp;&nbsp; 984878280 | &nbsp;&nbsp; 12344969 | &nbsp;&nbsp; 610380580 |
| Class R1 | 7963 | &nbsp;&nbsp; 332779 | &nbsp;&nbsp; 11105 | &nbsp;&nbsp; 414597 |
| Class R2 | (52411)<br>| &nbsp;&nbsp; (2235823)<br>| &nbsp;&nbsp; (100175)<br>| &nbsp;&nbsp; (4022147)<br>|
| Class R3 | (584508)<br>| &nbsp;&nbsp; (27990937)<br>| &nbsp;&nbsp; 361656 | &nbsp;&nbsp; 16224824 |
| Class R4 | (709034)<br>| &nbsp;&nbsp; (35309574)<br>| &nbsp;&nbsp; 266331 | &nbsp;&nbsp; 11109707 |
| Class R6 | 12095246 | &nbsp;&nbsp; 585477007 | &nbsp;&nbsp; 6659716 | &nbsp;&nbsp; 266478293 |
|  | 28866970 | &nbsp;&nbsp; $1526320554 | &nbsp;&nbsp; 19862812 | &nbsp;&nbsp; $915751263 |

---

The fund is one of several mutual funds in which certain MFS funds may invest. The MFS funds do not invest in the underlying funds for the purpose of exercising management or control. At the end of the period, the MFS International Diversification Fund was the owner of record of approximately 30% of the value of outstanding voting shares of the fund. In addition, the MFS Aggressive Growth Allocation Fund, the MFS Conservative Allocation Fund, the MFS Growth Allocation Fund, the MFS Moderate Allocation Fund, the MFS Lifetime 2025 Fund, the MFS Lifetime 2030 Fund, the MFS Lifetime 2035 Fund, the MFS Lifetime 2040 Fund, the MFS Lifetime 2045 Fund, the MFS Lifetime 2050 Fund, the MFS Lifetime 2055 Fund, the MFS Lifetime 2060 Fund, the MFS Lifetime 2065 Fund, and the MFS Lifetime Income Fund were each the owners of record of less than 1% of the value of outstanding voting shares of the fund.

Effective June 1, 2019, purchases of the fund's Class B shares were closed to new and existing investors subject to certain exceptions. Effective September 29, 2023, purchases of the fund's Class R1 and Class R2 shares were closed to new eligible investors.

**(6) Line of Credit**

The fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by the fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate) plus 0.10%, 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 12, 2026 unless extended or renewed. In addition, the fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the six months ended November 30, 2025, the fund's commitment fee and interest expense were $44,559 and $0, respectively, and are included in "Miscellaneous" expense in the Statement of Operations.

**(7) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the six months ended November 30, 2025:

------

MFS International Growth Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Beginning** <br>**Value**<br>| **Purchases** | &nbsp;&nbsp; **Sales** <br>**Proceeds**<br>| &nbsp;&nbsp; **Realized** <br>**Gain** <br>**(Loss)**<br>| &nbsp;&nbsp; **Change in** <br>**Unrealized** <br>**Appreciation** <br> **or** <br>**Depreciation**<br>| &nbsp;&nbsp; **Ending** <br>**Value**<br>|
| MFS Institutional Money Market <br> Portfolio<br>| &nbsp;&nbsp; $566303964 | &nbsp;&nbsp; $2124878398 | &nbsp;&nbsp; $2055975911 | &nbsp;&nbsp; $(32224)<br>| &nbsp;&nbsp; $95694 | &nbsp;&nbsp; $635269921 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; $8465091 | $— |

---

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS International Growth Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS International Growth Fund.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

This information is disclosed as part of the financial statements included in Item 7 above for MFS International Growth Fund. See the Statement of Operations and Note 3 within the Notes to Financial Statements for more information.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

------

MFS International Growth Fund

**Board Review of Investment Advisory Agreement**

**MFS International Growth Fund**

The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested ("independent") Trustees, voting separately, annually approve the continuation of the Fund's investment advisory agreement with MFS. The Trustees consider matters bearing on the Fund and its advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2025 ("contract review meetings") for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Fund and the other investment companies that the Board oversees (the "MFS Funds"). The independent Trustees were assisted in their evaluation of the Fund's investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.

In connection with their deliberations regarding the continuation of the investment advisory agreement, the Trustees, including the independent Trustees, considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The investment advisory agreement for the Fund was considered separately, although the Trustees also took into account the common interests of all MFS Funds in their review. As described below, the Trustees considered the nature, quality, and extent of the various investment advisory, administrative, and shareholder services performed by MFS under the existing investment advisory agreement and other arrangements with the Fund.

In connection with their contract review meetings, the Trustees received and relied upon materials that included, among other items: (i) information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent third party, on the investment performance of the Fund for various time periods ended December 31, 2024 and the investment performance of a group of funds with substantially similar investment classifications/objectives (the "Broadridge performance universe"), (ii) information provided by Broadridge on the Fund's advisory fees and other expenses and the advisory fees and other expenses of comparable funds identified by Broadridge as well as all other funds in the same investment classification/category (the "Broadridge expense group and universe"), (iii) information provided by MFS on the advisory fees of portfolios of other clients of MFS, including institutional separate accounts and other clients, (iv) information as to whether and to what extent applicable expense waivers, reimbursements or fee "breakpoints" are observed for the Fund, (v) information regarding MFS' financial results and financial condition, including MFS' and certain of its affiliates' estimated profitability from services performed for the Fund and the MFS Funds as a whole, and compared to MFS' institutional business, (vi) MFS' views regarding the outlook for the mutual fund industry and the strategic business plans of MFS, (vii) descriptions of various functions performed by MFS for the Funds, such as compliance monitoring and portfolio trading practices, and (viii) information regarding the overall organization of MFS, including information about MFS' senior management and other personnel providing investment advisory, administrative and other services to the Fund and the other MFS Funds. The comparative performance, fee and expense information prepared and provided by Broadridge was not independently verified and the independent Trustees did not independently verify any information provided to them by MFS.

The Trustees' conclusion as to the continuation of the investment advisory agreement was based on a comprehensive consideration of all information provided to the Trustees and not the result of any single factor. Some of the factors that figured particularly in the Trustees' deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. It is also important to recognize that the fee arrangements for the Fund and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees' conclusions may be based, in part, on their consideration of these same arrangements during the course of the year and in prior years.

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 1st quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 1st quintile for each of the one- and three-year periods ended December 31, 2024 relative to the Broadridge performance universe. Because of the passage of time, these performance results may differ from the performance results for more recent periods, including those shown elsewhere in this report.

------

MFS International Growth Fund

*Board Review of Investment Advisory Agreement - continued*

In the course of their deliberations, the Trustees took into account information provided by MFS in connection with the contract review meetings, as well as during investment review meetings conducted with portfolio management personnel during the course of the year regarding the Fund's performance. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that they were satisfied with MFS' responses and efforts relating to investment performance.

In assessing the reasonableness of the Fund's advisory fee, the Trustees considered, among other information, the Fund's advisory fee and the total expense ratio of the Fund's Class I shares as a percentage of average daily net assets and the advisory fee and total expense ratios of the Broadridge expense group based on information provided by Broadridge. The Trustees considered that, according to the data provided by Broadridge (which takes into account any fee reductions or expense limitations that were in effect during the Fund's last fiscal year), the Fund's effective advisory fee rate and total expense ratio were each approximately at the Broadridge expense group median.

The Trustees also considered the advisory fees charged by MFS to any institutional separate accounts advised by MFS ("separate accounts") and unaffiliated investment companies for which MFS serves as subadviser ("subadvised funds") that have comparable investment strategies to the Fund, if any. In comparing these fees, the Trustees considered information provided by MFS as to the generally broader scope of services provided by MFS to the Fund, as well as the more extensive regulatory burdens imposed on MFS in managing the Fund, in comparison to separate accounts and subadvised funds. The Trustees also considered the higher demands placed on MFS' investment personnel and trading infrastructure as a result of the daily cash in-flows and out-flows of the Fund in comparison to separate accounts.

The Trustees also considered whether the Fund may benefit from any economies of scale in the management of the Fund in the event of growth in assets of the Fund and/or growth in assets of the MFS Funds as a whole. They noted that the Fund's advisory fee rate schedule is subject to contractual breakpoints that reduce the Fund's advisory fee rate on average daily net assets over $1 billion, $2 billion, $5 billion, $10 billion and $20 billion. The Trustees also noted that MFS has agreed in writing to waive a portion of the management fees of certain MFS Funds, including the Fund, if the total combined assets of certain funds within the MFS Funds' complex increase above agreed upon thresholds (the "group fee waiver"), enabling the Fund's shareholders to share in the benefits from any economies of scale at the complex level. The group fee waiver is reviewed and renewed annually between the Board and MFS. The Trustees concluded that the breakpoints and the group fee waiver were sufficient to allow the Fund to benefit from economies of scale as its assets and overall complex assets grow.

The Trustees also considered information prepared by MFS relating to MFS' costs and profits with respect to the Fund, the MFS Funds considered as a group, and other investment companies and accounts advised by MFS, as well as MFS' methodologies used to determine and allocate its costs to the MFS Funds, the Fund and other accounts and products for purposes of estimating profitability.

After reviewing these and other factors described herein, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that the advisory fees charged to the Fund represent reasonable compensation in light of the services being provided by MFS to the Fund.

In addition, the Trustees considered MFS' resources and related efforts to continue to retain, attract and motivate capable personnel to serve the Fund. The Trustees also considered current and developing conditions in the financial services industry, including the presence of large and well-capitalized companies which are spending, and appear to be prepared to continue to spend, substantial sums to engage personnel and to provide services to competing investment companies. In this regard, the Trustees also considered the financial resources of MFS and its ultimate parent, Sun Life Financial Inc. The Trustees also considered the advantages and possible disadvantages to the Fund of having an adviser that also serves other investment companies as well as other accounts.

The Trustees also considered the nature, quality, cost, and extent of administrative, transfer agency, and distribution services provided to the Fund by MFS and its affiliates under agreements and plans other than the investment advisory agreement, including any 12b-1 fees the Fund pays to MFS Fund Distributors, Inc., an affiliate of MFS. The Trustees also considered the nature, extent and quality of certain other services MFS performs or arranges for on the Fund's behalf, which may include securities lending programs, directed expense payment programs, class action recovery programs, and MFS' interaction with third-party service providers, principally custodians and sub-custodians. The Trustees concluded that the various non-advisory services provided by MFS and its affiliates on behalf of the Fund were satisfactory.

The Trustees considered so-called "fall-out benefits" to MFS such as reputational value derived from serving as investment manager to the MFS Funds. The Trustees also considered that MFS discontinued its historic practice of obtaining investment research from portfolio brokerage commissions paid by certain MFS Funds effective January 2018, and directly pays or voluntarily reimburses a Fund, if applicable, for the costs of external research acquired through the use of the Fund's portfolio brokerage commissions.

------

MFS International Growth Fund

*Board Review of Investment Advisory Agreement - continued*

Based on their evaluation of factors that they deemed to be material, including those factors described above, the Board of Trustees, including the independent Trustees, concluded that the Fund's investment advisory agreement with MFS should be continued for an additional one-year period, commencing August 1, 2025.

------

MFS International Intrinsic Value Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS International Intrinsic Value Fund

**Portfolio of Investments - 11/30/25 (unaudited)**

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – 96.4% | Common Stocks – 96.4% | Common Stocks – 96.4% |
| Airlines – 1.3% | Airlines – 1.3% |  |
| Ryanair Holdings PLC, ADR | 4540757 | &nbsp;&nbsp; $309497997 |
| Alcoholic Beverages – 1.8% | Alcoholic Beverages – 1.8% |  |
| Diageo PLC | 10232833 | &nbsp;&nbsp; $235219002 |
| Pernod Ricard S.A. | 2182610 | &nbsp;&nbsp; 196419177 |
|  |  | &nbsp;&nbsp; $431638179 |
| Apparel Manufacturers – 0.8% | Apparel Manufacturers – 0.8% |  |
| Compagnie Financiere Richemont S.A. | 948727 | &nbsp;&nbsp; $201130596 |
| Automotive – 0.1% | Automotive – 0.1% |  |
| Shimano, Inc. | 246000 | &nbsp;&nbsp; $25988024 |
| Brokerage & Asset Managers – 5.4% | Brokerage & Asset Managers – 5.4% |  |
| Deutsche Boerse AG | 2066757 | &nbsp;&nbsp; $552609464 |
| Euronext N.V. | 2539008 | &nbsp;&nbsp; 389656464 |
| London Stock Exchange Group PLC | 3104191 | &nbsp;&nbsp; 366252453 |
|  |  | &nbsp;&nbsp; $1308518381 |
| Business Services – 1.8% | Business Services – 1.8% |  |
| Experian PLC | 7753410 | &nbsp;&nbsp; $341251830 |
| Intertek Group PLC | 1202697 | &nbsp;&nbsp; 73690882 |
| Nomura Research Institute Ltd. | 702154 | &nbsp;&nbsp; 28033995 |
|  |  | &nbsp;&nbsp; $442976707 |
| Computer Software – 3.5% | Computer Software – 3.5% |  |
| Cadence Design Systems, Inc. (a) | 351746 | &nbsp;&nbsp; $109688472 |
| Dassault Systemes SE | 9238848 | &nbsp;&nbsp; 258388395 |
| SAP SE | 2057272 | &nbsp;&nbsp; 497691108 |
|  |  | &nbsp;&nbsp; $865767975 |
| Computer Software - Systems – 3.3% | Computer Software - Systems – 3.3% |  |
| Amadeus IT Group S.A. | 4176465 | &nbsp;&nbsp; $306863248 |
| Cap Gemini S.A. | 858299 | &nbsp;&nbsp; 134210492 |
| Samsung Electronics Co. Ltd. | 5209271 | &nbsp;&nbsp; 355986629 |
|  |  | &nbsp;&nbsp; $797060369 |
| Construction – 3.5% | Construction – 3.5% |  |
| Compagnie de Saint-Gobain S.A. | 3374651 | &nbsp;&nbsp; $336420295 |
| CRH PLC | 3026392 | &nbsp;&nbsp; 363045984 |
| Sika AG | 809076 | &nbsp;&nbsp; 159387871 |
|  |  | &nbsp;&nbsp; $858854150 |
| Consumer Products – 5.0% | Consumer Products – 5.0% |  |
| Beiersdorf AG | 1363173 | &nbsp;&nbsp; $146521462 |
| Haleon PLC | 99369083 | &nbsp;&nbsp; 488157553 |
| Kenvue, Inc. | 12697856 | &nbsp;&nbsp; 220307802 |
| KOSE Corp. | 460600 | &nbsp;&nbsp; 15203871 |

---

FGIFS-SEM

------

MFS International Intrinsic Value Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Consumer Products – continued | Consumer Products – continued |  |
| Lion Corp. | 1820800 | &nbsp;&nbsp; $19305331 |
| Reckitt Benckiser Group PLC | 2030418 | &nbsp;&nbsp; 157377148 |
| ROHTO Pharmaceutical Co. Ltd. | 10386500 | &nbsp;&nbsp; 168329949 |
|  |  | &nbsp;&nbsp; $1215203116 |
| Electrical Equipment – 7.2% | Electrical Equipment – 7.2% |  |
| Legrand S.A. | 4392448 | &nbsp;&nbsp; $665183514 |
| Mitsubishi Electric Corp. | 16197300 | &nbsp;&nbsp; 438076072 |
| Schneider Electric SE | 2465106 | &nbsp;&nbsp; 660549777 |
|  |  | &nbsp;&nbsp; $1763809363 |
| Electronics – 4.6% | Electronics – 4.6% |  |
| ASML Holding N.V. | 194684 | &nbsp;&nbsp; $204017922 |
| Hirose Electric Co. Ltd. | 1058300 | &nbsp;&nbsp; 119460340 |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 2785486 | &nbsp;&nbsp; 811997024 |
|  |  | &nbsp;&nbsp; $1135475286 |
| Energy - Independent – 0.3% | Energy - Independent – 0.3% |  |
| Woodside Energy Group Ltd. | 4839750 | &nbsp;&nbsp; $79028981 |
| Energy - Integrated – 4.2% | Energy - Integrated – 4.2% |  |
| Aker BP ASA | 7849710 | &nbsp;&nbsp; $191016551 |
| Galp Energia SGPS S.A., "B" | 4438283 | &nbsp;&nbsp; 89402106 |
| Petroleo Brasileiro S.A., ADR | 7950298 | &nbsp;&nbsp; 94529043 |
| TotalEnergies SE | 9749490 | &nbsp;&nbsp; 642374372 |
|  |  | &nbsp;&nbsp; $1017322072 |
| Engineering - Construction – 0.8% | Engineering - Construction – 0.8% |  |
| Taisei Corp. | 2284400 | &nbsp;&nbsp; $195316639 |
| Food & Beverages – 2.8% | Food & Beverages – 2.8% |  |
| Chocoladefabriken Lindt & Sprungli AG | 5485 | &nbsp;&nbsp; $80707954 |
| Ezaki Glico Co. Ltd. | 2556500 | &nbsp;&nbsp; 90052197 |
| Kerry Group PLC | 1702386 | &nbsp;&nbsp; 157882676 |
| Novozymes A.S. | 681780 | &nbsp;&nbsp; 42527857 |
| Toyo Suisan Kaisha Ltd. | 4540200 | &nbsp;&nbsp; 325961586 |
|  |  | &nbsp;&nbsp; $697132270 |
| Forest & Paper Products – 0.7% | Forest & Paper Products – 0.7% |  |
| Svenska Cellulosa Aktiebolaget | 12328721 | &nbsp;&nbsp; $160165834 |
| Insurance – 2.6% | Insurance – 2.6% |  |
| Hiscox Ltd. | 7573791 | &nbsp;&nbsp; $134421895 |
| Samsung Fire & Marine Insurance Co. Ltd. | 457753 | &nbsp;&nbsp; 149871192 |
| Willis Towers Watson PLC | 1133006 | &nbsp;&nbsp; 363694926 |
|  |  | &nbsp;&nbsp; $647988013 |
| Machinery & Tools – 4.8% | Machinery & Tools – 4.8% |  |
| Assa Abloy AB | 9206473 | &nbsp;&nbsp; $349693751 |
| Epiroc AB | 3826134 | &nbsp;&nbsp; 82107706 |
| IMI PLC | 10759349 | &nbsp;&nbsp; 346863392 |
| Knorr-Bremse AG | 1676658 | &nbsp;&nbsp; 177765981 |
| Schindler Holding AG | 365341 | &nbsp;&nbsp; 130527657 |

---

------

MFS International Intrinsic Value Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Machinery & Tools – continued | Machinery & Tools – continued |  |
| Spirax Group PLC | 1025621 | &nbsp;&nbsp; $91083054 |
|  |  | &nbsp;&nbsp; $1178041541 |
| Major Banks – 10.8% | Major Banks – 10.8% |  |
| Bank of Ireland Group PLC | 19578115 | &nbsp;&nbsp; $362461375 |
| BPER Banca S.p.A. | 9900887 | &nbsp;&nbsp; 119214595 |
| Lloyds Banking Group PLC | 224450241 | &nbsp;&nbsp; 285809126 |
| National Bank of Greece S.A. | 10504605 | &nbsp;&nbsp; 164502108 |
| NatWest Group PLC | 84610720 | &nbsp;&nbsp; 708486828 |
| Resona Holdings, Inc. | 56734900 | &nbsp;&nbsp; 577559393 |
| UBS Group AG | 10721718 | &nbsp;&nbsp; 414026755 |
|  |  | &nbsp;&nbsp; $2632060180 |
| Medical & Health Technology & Services – 0.8% | Medical & Health Technology & Services – 0.8% |  |
| M3, Inc. | 11699200 | &nbsp;&nbsp; $193088500 |
| Medical Equipment – 6.9% | Medical Equipment – 6.9% |  |
| Agilent Technologies, Inc. | 2233111 | &nbsp;&nbsp; $342782538 |
| Alcon, Inc. | 2551063 | &nbsp;&nbsp; 202802046 |
| EssilorLuxottica | 926319 | &nbsp;&nbsp; 331707410 |
| Olympus Corp. | 7610700 | &nbsp;&nbsp; 102359869 |
| Shimadzu Corp. | 6849200 | &nbsp;&nbsp; 195597431 |
| Smith & Nephew PLC | 15101723 | &nbsp;&nbsp; 250927964 |
| Waters Corp. (a) | 650485 | &nbsp;&nbsp; 262418659 |
|  |  | &nbsp;&nbsp; $1688595917 |
| Metals & Mining – 2.2% | Metals & Mining – 2.2% |  |
| ArcelorMittal S.A. | 5605052 | &nbsp;&nbsp; $241739157 |
| Glencore PLC | 61928244 | &nbsp;&nbsp; 295942401 |
|  |  | &nbsp;&nbsp; $537681558 |
| Oil Services – 0.5% | Oil Services – 0.5% |  |
| Tenaris S.A. | 6691514 | &nbsp;&nbsp; $134906270 |
| Other Banks & Diversified Financials – 6.1% | Other Banks & Diversified Financials – 6.1% |  |
| AIB Group PLC | 52572145 | &nbsp;&nbsp; $539705619 |
| CaixaBank S.A. | 51323129 | &nbsp;&nbsp; 572486899 |
| Chiba Bank Ltd. | 20466000 | &nbsp;&nbsp; 215552305 |
| Julius Baer Group Ltd. | 2155886 | &nbsp;&nbsp; 154049367 |
|  |  | &nbsp;&nbsp; $1481794190 |
| Pharmaceuticals – 3.4% | Pharmaceuticals – 3.4% |  |
| Roche Holding AG | 1211702 | &nbsp;&nbsp; $463683798 |
| Sandoz Group AG | 5100334 | &nbsp;&nbsp; 360128152 |
|  |  | &nbsp;&nbsp; $823811950 |
| Precious Metals & Minerals – 8.2% | Precious Metals & Minerals – 8.2% |  |
| Agnico Eagle Mines Ltd. | 2494270 | &nbsp;&nbsp; $435227487 |
| Franco-Nevada Corp. | 4231199 | &nbsp;&nbsp; 884761685 |
| Northern Star Resources Ltd. Co. | 12809197 | &nbsp;&nbsp; 227872986 |
| Wheaton Precious Metals Corp. | 4053311 | &nbsp;&nbsp; 445236116 |
|  |  | &nbsp;&nbsp; $1993098274 |

---

------

MFS International Intrinsic Value Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Printing & Publishing – 0.5% | Printing & Publishing – 0.5% |  |
| Wolters Kluwer N.V. | 1268072 | &nbsp;&nbsp; $134740253 |
| Specialty Chemicals – 2.4% | Specialty Chemicals – 2.4% |  |
| Croda International PLC | 1332614 | &nbsp;&nbsp; $48044579 |
| Nitto Denko Corp. | 7270400 | &nbsp;&nbsp; 179781058 |
| Symrise AG | 4211607 | &nbsp;&nbsp; 349017543 |
|  |  | &nbsp;&nbsp; $576843180 |
| Specialty Stores – 0.1% | Specialty Stores – 0.1% |  |
| Nitori Co. Ltd. | 1818800 | &nbsp;&nbsp; $31474303 |
| **Total Common Stocks (Identified Cost, $14,741,851,707)** |  | &nbsp;&nbsp; **$23559010068** |
| Mutual Funds (h) – 3.5% | Mutual Funds (h) – 3.5% | Mutual Funds (h) – 3.5% |
| Money Market Funds – 3.5% | Money Market Funds – 3.5% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) (Identified Cost, $862,229,003) | 862227785 | &nbsp;&nbsp; $862400230 |
| Other Assets, Less Liabilities – 0.1% |  | &nbsp;&nbsp; 15941716 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$24437352014** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $862,400,230 and $23,559,010,068, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

The following abbreviations are used in this report and are defined: <br> ADR American Depositary Receipt

**See Notes to Financial Statements**

------

MFS International Intrinsic Value Fund

**Financial Statements** \| **Statement of Assets and Liabilities**

This statement represents your fund's balance sheet, which details the assets and liabilities comprising the total value of the fund.

---

| | |
|:---|:---|
| **At 11/30/25 (unaudited)**<br> **Assets**<br>|  |
| Investments in unaffiliated issuers, at value (identified cost, $14,741,851,707) | &nbsp;&nbsp; $23559010068 |
| Investments in affiliated issuers, at value (identified cost, $862,229,003) | &nbsp;&nbsp; 862400230 |
| Cash | &nbsp;&nbsp; 2200539 |
| Foreign currency, at value (identified cost, $9,813,490) | &nbsp;&nbsp; 9815528 |
| Receivables for |  |
| Investments sold | &nbsp;&nbsp; 37673499 |
| Fund shares sold | &nbsp;&nbsp; 12397837 |
| Interest and dividends | &nbsp;&nbsp; 95442826 |
| Other assets | &nbsp;&nbsp; 49 |
| Total assets | &nbsp;&nbsp; $24578940576 |
| **Liabilities** |  |
| Payables for |  |
| Investments purchased | &nbsp;&nbsp; $105474497 |
| Fund shares reacquired | &nbsp;&nbsp; 29788526 |
| Payable to affiliates |  |
| Investment adviser | &nbsp;&nbsp; 2066956 |
| Administrative services fee | &nbsp;&nbsp; 7507 |
| Shareholder servicing costs | &nbsp;&nbsp; 2975631 |
| Distribution and service fees | &nbsp;&nbsp; 109815 |
| Payable for independent Trustees' compensation | &nbsp;&nbsp; 7016 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 1158614 |
| Total liabilities | &nbsp;&nbsp; $141588562 |
| Net assets | &nbsp;&nbsp; $24437352014 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $13463605059 |
| Total distributable earnings (loss) | &nbsp;&nbsp; 10973746955 |
| Net assets | &nbsp;&nbsp; $24437352014 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 511304862 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | &nbsp;&nbsp; **Shares** <br>**outstanding**<br>| &nbsp;&nbsp; **Net asset value** <br>**per share (a)**<br>|
| Class A | &nbsp;&nbsp;&nbsp; $1864465820 | &nbsp;&nbsp;&nbsp; 40111930 | &nbsp;&nbsp;&nbsp; $46.48 |
| Class B | &nbsp;&nbsp;&nbsp; 343367 | &nbsp;&nbsp;&nbsp; 8015 | &nbsp;&nbsp;&nbsp;&nbsp;42.84 |
| Class C | &nbsp;&nbsp;&nbsp; 8114303 | &nbsp;&nbsp;&nbsp; 208461 | &nbsp;&nbsp;&nbsp;&nbsp;38.92 |
| Class I | &nbsp;&nbsp;&nbsp; 6814607987 | &nbsp;&nbsp;&nbsp; 134386304 | &nbsp;&nbsp;&nbsp;&nbsp;50.71 |
| Class R1 | &nbsp;&nbsp;&nbsp; 8423081 | &nbsp;&nbsp;&nbsp; 215121 | &nbsp;&nbsp;&nbsp;&nbsp;39.16 |
| Class R2 | &nbsp;&nbsp;&nbsp; 119568729 | &nbsp;&nbsp;&nbsp; 2913513 | &nbsp;&nbsp;&nbsp;&nbsp;41.04 |
| Class R3 | &nbsp;&nbsp;&nbsp; 1065322340 | &nbsp;&nbsp;&nbsp; 23220815 | &nbsp;&nbsp;&nbsp;&nbsp;45.88 |
| Class R4 | &nbsp;&nbsp;&nbsp; 512005784 | &nbsp;&nbsp;&nbsp; 10942376 | &nbsp;&nbsp;&nbsp;&nbsp;46.79 |
| Class R6 | &nbsp;&nbsp;&nbsp; 14044500603 | &nbsp;&nbsp;&nbsp; 299298327 | &nbsp;&nbsp;&nbsp;&nbsp;46.92 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Maximum offering price per share was equal to the net asset value per share for all
 share classes, except for Class A, for which the maximum offering price per share was $49.32 [100 / 94.25 x $46.48]. On sales of $50,000 or
 more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class
 A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and
 R6.

**See Notes to Financial Statements**

------

MFS International Intrinsic Value Fund

**Financial Statements** \| **Statement of Operations**

This statement describes how much your fund earned in investment income and accrued in expenses. It also describes any gains and/or losses generated by fund operations.

---

| | |
|:---|:---|
| **Six months ended 11/30/25 (unaudited)**<br> **Net investment income (loss)**<br>|  |
| Income |  |
| Dividends from unaffiliated issuers | &nbsp;&nbsp; $212598480 |
| Dividends from affiliated issuers | &nbsp;&nbsp; 17950355 |
| Income on securities loaned | &nbsp;&nbsp; 157016 |
| Interest | &nbsp;&nbsp; 6601 |
| Other | &nbsp;&nbsp; 5353 |
| Foreign taxes withheld | &nbsp;&nbsp; (10669345)<br>|
| Total investment income | &nbsp;&nbsp; $220048460 |
| Expenses |  |
| Management fee | &nbsp;&nbsp; $75750968 |
| Distribution and service fees | &nbsp;&nbsp; 3913721 |
| Shareholder servicing costs | &nbsp;&nbsp; 5580784 |
| Administrative services fee | &nbsp;&nbsp; 274774 |
| Independent Trustees' compensation | &nbsp;&nbsp; 85961 |
| Custodian fee | &nbsp;&nbsp; 899807 |
| Shareholder communications | &nbsp;&nbsp; 321376 |
| Audit and tax fees | &nbsp;&nbsp; 44436 |
| Legal fees | &nbsp;&nbsp; 55331 |
| Reduction of tax reclaim recovery expenses | &nbsp;&nbsp; (877213)<br>|
| Miscellaneous | &nbsp;&nbsp; 285350 |
| Total expenses | &nbsp;&nbsp; $86335295 |
| Reduction of expenses by investment adviser and distributor | &nbsp;&nbsp; (1643859)<br>|
| Net expenses | &nbsp;&nbsp; $84691436 |
| Net investment income (loss) | &nbsp;&nbsp; $135357024 |
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Unaffiliated issuers | &nbsp;&nbsp; $1002903679 |
| Affiliated issuers | &nbsp;&nbsp; 31420627 |
| Foreign currency | &nbsp;&nbsp; 66318 |
| Net realized gain (loss) | &nbsp;&nbsp; $1034390624 |
| Change in unrealized appreciation or depreciation |  |
| Unaffiliated issuers | &nbsp;&nbsp; $1474256632 |
| Affiliated issuers | &nbsp;&nbsp; 33656699 |
| Translation of assets and liabilities in foreign currencies | &nbsp;&nbsp; (747976)<br>|
| Net unrealized gain (loss) | &nbsp;&nbsp; $1507165355 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $2541555979 |
| Change in net assets from operations | &nbsp;&nbsp; $2676913003 |

---

**See Notes to Financial Statements**

------

MFS International Intrinsic Value Fund

**Financial Statements** \| **Statements of Changes in Net Assets**

These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions.

---

| | | |
|:---|:---|:---|
|  | **Six months ended** | **Year ended** |
|  | <br>**11/30/25** <br>**(unaudited)**<br>| <br>**5/31/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $135357024 | &nbsp;&nbsp; $404005282 |
| Net realized gain (loss) | 1034390624 | &nbsp;&nbsp; 1494333592 |
| Net unrealized gain (loss) | 1507165355 | &nbsp;&nbsp; 1055590896 |
| Change in net assets from operations | $2676913003 | &nbsp;&nbsp; $2953929770 |
| Total distributions to shareholders | $— | &nbsp;&nbsp; $(2384764386)<br>|
| Change in net assets from fund share transactions | $(1035729631)<br>| &nbsp;&nbsp; $143648322 |
| Total change in net assets | $1641183372 | &nbsp;&nbsp; $712813706 |
| **Net assets** |  |  |
| At beginning of period | 22796168642 | &nbsp;&nbsp; 22083354936 |
| At end of period | $24437352014 | &nbsp;&nbsp; $22796168642 |

---

**See Notes to Financial Statements**

------

MFS International Intrinsic Value Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years. Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class A**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $41.56 | &nbsp;&nbsp; $40.94 | &nbsp;&nbsp; $38.48 | &nbsp;&nbsp; $42.44 | &nbsp;&nbsp; $53.83 | &nbsp;&nbsp; $44.47 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.19 | &nbsp;&nbsp; $0.62 | &nbsp;&nbsp; $0.67 | &nbsp;&nbsp; $0.39 | &nbsp;&nbsp; $0.20 | &nbsp;&nbsp; $0.32 |
| Net realized and unrealized gain (loss) | 4.73 | &nbsp;&nbsp;&nbsp;&nbsp;4.55 | &nbsp;&nbsp;&nbsp;&nbsp;6.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp; (7.57)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.78 |
| Total from investment operations | $4.92 | &nbsp;&nbsp; $5.17 | &nbsp;&nbsp; $6.87 | &nbsp;&nbsp; $1.22 | &nbsp;&nbsp; $(7.37)<br>| &nbsp;&nbsp; $12.10 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.68)<br>| &nbsp;&nbsp; $(0.68)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.39)<br>| &nbsp;&nbsp; $(0.21)<br>|
| From net realized gain |  | &nbsp;&nbsp; (3.87)<br>| &nbsp;&nbsp; (3.73)<br>| &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; (3.63)<br>| &nbsp;&nbsp; (2.53)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(4.55)<br>| &nbsp;&nbsp; $(4.41)<br>| &nbsp;&nbsp; $(5.18)<br>| &nbsp;&nbsp; $(4.02)<br>| &nbsp;&nbsp; $(2.74)<br>|
| Net asset value, end of period (x) | $46.48 | &nbsp;&nbsp; $41.56 | &nbsp;&nbsp; $40.94 | &nbsp;&nbsp; $38.48 | &nbsp;&nbsp; $42.44 | &nbsp;&nbsp; $53.83 |
| Total return (%) (r)(s)(t)(x) | 11.84<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.22 | &nbsp;&nbsp;&nbsp;&nbsp;19.09 | &nbsp;&nbsp;&nbsp;&nbsp;3.67 | &nbsp;&nbsp; (15.10)<br>| &nbsp;&nbsp;&nbsp;&nbsp;27.66 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.00<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;1.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;0.97 |
| Expenses after expense reductions | 0.99<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.05 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 |
| Net investment income (loss) | 0.87<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.55 | &nbsp;&nbsp;&nbsp;&nbsp;1.72 | &nbsp;&nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 |
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $1864466 | &nbsp;&nbsp; $1742388 | &nbsp;&nbsp; $1841902 | &nbsp;&nbsp; $1899509 | &nbsp;&nbsp; $2345833 | &nbsp;&nbsp; $3046287 |

---

**See Notes to Financial Statements**

------

MFS International Intrinsic Value Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class B**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $38.45 | &nbsp;&nbsp; $38.02 | &nbsp;&nbsp; $35.69 | &nbsp;&nbsp; $39.72 | &nbsp;&nbsp; $50.76 | &nbsp;&nbsp; $42.18 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.03 | &nbsp;&nbsp; $0.20 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $(0.04)<br>| &nbsp;&nbsp; $(0.25)<br>| &nbsp;&nbsp; $(0.08)<br>|
| Net realized and unrealized gain (loss) | 4.36 | &nbsp;&nbsp;&nbsp;&nbsp;4.32 | &nbsp;&nbsp;&nbsp;&nbsp;5.81 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp; (7.01)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.19 |
| Total from investment operations | $4.39 | &nbsp;&nbsp; $4.52 | &nbsp;&nbsp; $6.09 | &nbsp;&nbsp; $0.85 | &nbsp;&nbsp; $(7.26)<br>| &nbsp;&nbsp; $11.11 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.22)<br>| &nbsp;&nbsp; $(0.03)<br>| $— | &nbsp;&nbsp; $(0.15)<br>| $— |
| From net realized gain |  | &nbsp;&nbsp; (3.87)<br>| &nbsp;&nbsp; (3.73)<br>| &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; (3.63)<br>| &nbsp;&nbsp; (2.53)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(4.09)<br>| &nbsp;&nbsp; $(3.76)<br>| &nbsp;&nbsp; $(4.88)<br>| &nbsp;&nbsp; $(3.78)<br>| &nbsp;&nbsp; $(2.53)<br>|
| Net asset value, end of period (x) | $42.84 | &nbsp;&nbsp; $38.45 | &nbsp;&nbsp; $38.02 | &nbsp;&nbsp; $35.69 | &nbsp;&nbsp; $39.72 | &nbsp;&nbsp; $50.76 |
| Total return (%) (r)(s)(t)(x) | 11.42<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.38 | &nbsp;&nbsp;&nbsp;&nbsp;18.16 | &nbsp;&nbsp;&nbsp;&nbsp;2.91 | &nbsp;&nbsp; (15.74)<br>| &nbsp;&nbsp;&nbsp;&nbsp;26.75 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.75<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.82 | &nbsp;&nbsp;&nbsp;&nbsp;1.79 | &nbsp;&nbsp;&nbsp;&nbsp;1.72 | &nbsp;&nbsp;&nbsp;&nbsp;1.72 |
| Expenses after expense reductions | 1.73<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 |
| Net investment income (loss) | 0.13<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.52)<br>| &nbsp;&nbsp; (0.16)<br>|
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $343 | &nbsp;&nbsp; $544 | &nbsp;&nbsp; $1188 | &nbsp;&nbsp; $2313 | &nbsp;&nbsp; $8336 | &nbsp;&nbsp; $19911 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class C**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $34.93 | &nbsp;&nbsp; $35.03 | &nbsp;&nbsp; $33.31 | &nbsp;&nbsp; $37.41 | &nbsp;&nbsp; $48.04 | &nbsp;&nbsp; $40.04 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.02 | &nbsp;&nbsp; $0.21 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $(0.04)<br>| &nbsp;&nbsp; $(0.23)<br>| &nbsp;&nbsp; $(0.09)<br>|
| Net realized and unrealized gain (loss) | 3.97 | &nbsp;&nbsp;&nbsp;&nbsp;3.89 | &nbsp;&nbsp;&nbsp;&nbsp;5.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp; (6.60)<br>| &nbsp;&nbsp;&nbsp;&nbsp;10.62 |
| Total from investment operations | $3.99 | &nbsp;&nbsp; $4.10 | &nbsp;&nbsp; $5.65 | &nbsp;&nbsp; $0.78 | &nbsp;&nbsp; $(6.83)<br>| &nbsp;&nbsp; $10.53 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(0.20)<br>| $— | &nbsp;&nbsp; $(0.17)<br>| $— |
| From net realized gain |  | &nbsp;&nbsp; (3.87)<br>| &nbsp;&nbsp; (3.73)<br>| &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; (3.63)<br>| &nbsp;&nbsp; (2.53)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(4.20)<br>| &nbsp;&nbsp; $(3.93)<br>| &nbsp;&nbsp; $(4.88)<br>| &nbsp;&nbsp; $(3.80)<br>| &nbsp;&nbsp; $(2.53)<br>|
| Net asset value, end of period (x) | $38.92 | &nbsp;&nbsp; $34.93 | &nbsp;&nbsp; $35.03 | &nbsp;&nbsp; $33.31 | &nbsp;&nbsp; $37.41 | &nbsp;&nbsp; $48.04 |
| Total return (%) (r)(s)(t)(x) | 11.42<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.35 | &nbsp;&nbsp;&nbsp;&nbsp;18.19 | &nbsp;&nbsp;&nbsp;&nbsp;2.90 | &nbsp;&nbsp; (15.73)<br>| &nbsp;&nbsp;&nbsp;&nbsp;26.73 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.75<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.82 | &nbsp;&nbsp;&nbsp;&nbsp;1.79 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 | &nbsp;&nbsp;&nbsp;&nbsp;1.72 |
| Expenses after expense reductions | 1.74<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 |
| Net investment income (loss) | 0.12<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; (0.19)<br>|
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $8114 | &nbsp;&nbsp; $11156 | &nbsp;&nbsp; $20444 | &nbsp;&nbsp; $33852 | &nbsp;&nbsp; $117583 | &nbsp;&nbsp; $264432 |

---

**See Notes to Financial Statements**

------

MFS International Intrinsic Value Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class I**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $45.28 | &nbsp;&nbsp; $44.20 | &nbsp;&nbsp; $41.22 | &nbsp;&nbsp; $45.09 | &nbsp;&nbsp; $56.87 | &nbsp;&nbsp; $46.83 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.27 | &nbsp;&nbsp; $0.79 | &nbsp;&nbsp; $0.83 | &nbsp;&nbsp; $0.51 | &nbsp;&nbsp; $0.34 | &nbsp;&nbsp; $0.47 |
| Net realized and unrealized gain (loss) | 5.16 | &nbsp;&nbsp;&nbsp;&nbsp;4.95 | &nbsp;&nbsp;&nbsp;&nbsp;6.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp; (8.04)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.44 |
| Total from investment operations | $5.43 | &nbsp;&nbsp; $5.74 | &nbsp;&nbsp; $7.50 | &nbsp;&nbsp; $1.42 | &nbsp;&nbsp; $(7.70)<br>| &nbsp;&nbsp; $12.91 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.79)<br>| &nbsp;&nbsp; $(0.79)<br>| &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.34)<br>|
| From net realized gain |  | &nbsp;&nbsp; (3.87)<br>| &nbsp;&nbsp; (3.73)<br>| &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; (3.63)<br>| &nbsp;&nbsp; (2.53)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(4.66)<br>| &nbsp;&nbsp; $(4.52)<br>| &nbsp;&nbsp; $(5.29)<br>| &nbsp;&nbsp; $(4.08)<br>| &nbsp;&nbsp; $(2.87)<br>|
| Net asset value, end of period (x) | $50.71 | &nbsp;&nbsp; $45.28 | &nbsp;&nbsp; $44.20 | &nbsp;&nbsp; $41.22 | &nbsp;&nbsp; $45.09 | &nbsp;&nbsp; $56.87 |
| Total return (%) (r)(s)(t)(x) | 11.99<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.49 | &nbsp;&nbsp;&nbsp;&nbsp;19.38 | &nbsp;&nbsp;&nbsp;&nbsp;3.93 | &nbsp;&nbsp; (14.89)<br>| &nbsp;&nbsp;&nbsp;&nbsp;28.01 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.75<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 |
| Expenses after expense reductions | 0.74<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.80 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 |
| Net investment income (loss) | 1.12<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.99 | &nbsp;&nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 |
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $6814608 | &nbsp;&nbsp; $6749788 | &nbsp;&nbsp; $6723488 | &nbsp;&nbsp; $6689895 | &nbsp;&nbsp; $8888439 | &nbsp;&nbsp; $12285870 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R1**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $35.14 | &nbsp;&nbsp; $35.33 | &nbsp;&nbsp; $33.77 | &nbsp;&nbsp; $37.88 | &nbsp;&nbsp; $48.67 | &nbsp;&nbsp; $40.54 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.02 | &nbsp;&nbsp; $0.29 | &nbsp;&nbsp; $0.34 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $(0.17)<br>| &nbsp;&nbsp; $(0.06)<br>|
| Net realized and unrealized gain (loss) | 4.00 | &nbsp;&nbsp;&nbsp;&nbsp;3.83 | &nbsp;&nbsp;&nbsp;&nbsp;5.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp; (6.74)<br>| &nbsp;&nbsp;&nbsp;&nbsp;10.72 |
| Total from investment operations | $4.02 | &nbsp;&nbsp; $4.12 | &nbsp;&nbsp; $5.72 | &nbsp;&nbsp; $0.79 | &nbsp;&nbsp; $(6.91)<br>| &nbsp;&nbsp; $10.66 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.25)<br>| $— |
| From net realized gain |  | &nbsp;&nbsp; (3.87)<br>| &nbsp;&nbsp; (3.73)<br>| &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; (3.63)<br>| &nbsp;&nbsp; (2.53)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(4.31)<br>| &nbsp;&nbsp; $(4.16)<br>| &nbsp;&nbsp; $(4.90)<br>| &nbsp;&nbsp; $(3.88)<br>| &nbsp;&nbsp; $(2.53)<br>|
| Net asset value, end of period (x) | $39.16 | &nbsp;&nbsp; $35.14 | &nbsp;&nbsp; $35.33 | &nbsp;&nbsp; $33.77 | &nbsp;&nbsp; $37.88 | &nbsp;&nbsp; $48.67 |
| Total return (%) (r)(s)(t)(x) | 11.44<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.35 | &nbsp;&nbsp;&nbsp;&nbsp;18.22 | &nbsp;&nbsp;&nbsp;&nbsp;2.89 | &nbsp;&nbsp; (15.73)<br>| &nbsp;&nbsp;&nbsp;&nbsp;26.72 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.75<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.82 | &nbsp;&nbsp;&nbsp;&nbsp;1.79 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 | &nbsp;&nbsp;&nbsp;&nbsp;1.72 |
| Expenses after expense reductions | 1.74<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.80 | &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 |
| Net investment income (loss) | 0.13<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.32 | &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; (0.12)<br>|
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $8423 | &nbsp;&nbsp; $8363 | &nbsp;&nbsp; $8242 | &nbsp;&nbsp; $8149 | &nbsp;&nbsp; $8909 | &nbsp;&nbsp; $11648 |

---

**See Notes to Financial Statements**

------

MFS International Intrinsic Value Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R2**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $36.74 | &nbsp;&nbsp; $36.71 | &nbsp;&nbsp; $34.94 | &nbsp;&nbsp; $39.03 | &nbsp;&nbsp; $49.87 | &nbsp;&nbsp; $41.36 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.12 | &nbsp;&nbsp; $0.47 | &nbsp;&nbsp; $0.52 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.18 |
| Net realized and unrealized gain (loss) | 4.18 | &nbsp;&nbsp;&nbsp;&nbsp;4.02 | &nbsp;&nbsp;&nbsp;&nbsp;5.57 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp; (6.94)<br>| &nbsp;&nbsp;&nbsp;&nbsp;10.95 |
| Total from investment operations | $4.30 | &nbsp;&nbsp; $4.49 | &nbsp;&nbsp; $6.09 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $(6.88)<br>| &nbsp;&nbsp; $11.13 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(0.21)<br>| &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(0.09)<br>|
| From net realized gain |  | &nbsp;&nbsp; (3.87)<br>| &nbsp;&nbsp; (3.73)<br>| &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; (3.63)<br>| &nbsp;&nbsp; (2.53)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(4.46)<br>| &nbsp;&nbsp; $(4.32)<br>| &nbsp;&nbsp; $(5.09)<br>| &nbsp;&nbsp; $(3.96)<br>| &nbsp;&nbsp; $(2.62)<br>|
| Net asset value, end of period (x) | $41.04 | &nbsp;&nbsp; $36.74 | &nbsp;&nbsp; $36.71 | &nbsp;&nbsp; $34.94 | &nbsp;&nbsp; $39.03 | &nbsp;&nbsp; $49.87 |
| Total return (%) (r)(s)(t)(x) | 11.70<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.95 | &nbsp;&nbsp;&nbsp;&nbsp;18.75 | &nbsp;&nbsp;&nbsp;&nbsp;3.42 | &nbsp;&nbsp; (15.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp;27.36 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.25<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.28 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.29 | &nbsp;&nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;&nbsp;1.22 |
| Expenses after expense reductions | 1.24<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.27 | &nbsp;&nbsp;&nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 | &nbsp;&nbsp;&nbsp;&nbsp;1.21 | &nbsp;&nbsp;&nbsp;&nbsp;1.21 |
| Net investment income (loss) | 0.62<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.38 |
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $119569 | &nbsp;&nbsp; $117658 | &nbsp;&nbsp; $125614 | &nbsp;&nbsp; $132772 | &nbsp;&nbsp; $153967 | &nbsp;&nbsp; $224998 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R3**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $41.02 | &nbsp;&nbsp; $40.48 | &nbsp;&nbsp; $38.07 | &nbsp;&nbsp; $42.06 | &nbsp;&nbsp; $53.38 | &nbsp;&nbsp; $44.11 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.19 | &nbsp;&nbsp; $0.63 | &nbsp;&nbsp; $0.66 | &nbsp;&nbsp; $0.41 | &nbsp;&nbsp; $0.20 | &nbsp;&nbsp; $0.31 |
| Net realized and unrealized gain (loss) | 4.67 | &nbsp;&nbsp;&nbsp;&nbsp;4.47 | &nbsp;&nbsp;&nbsp;&nbsp;6.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp; (7.49)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.70 |
| Total from investment operations | $4.86 | &nbsp;&nbsp; $5.10 | &nbsp;&nbsp; $6.79 | &nbsp;&nbsp; $1.20 | &nbsp;&nbsp; $(7.29)<br>| &nbsp;&nbsp; $12.01 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.69)<br>| &nbsp;&nbsp; $(0.65)<br>| &nbsp;&nbsp; $(0.31)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.21)<br>|
| From net realized gain |  | &nbsp;&nbsp; (3.87)<br>| &nbsp;&nbsp; (3.73)<br>| &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; (3.63)<br>| &nbsp;&nbsp; (2.53)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(4.56)<br>| &nbsp;&nbsp; $(4.38)<br>| &nbsp;&nbsp; $(5.19)<br>| &nbsp;&nbsp; $(4.03)<br>| &nbsp;&nbsp; $(2.74)<br>|
| Net asset value, end of period (x) | $45.88 | &nbsp;&nbsp; $41.02 | &nbsp;&nbsp; $40.48 | &nbsp;&nbsp; $38.07 | &nbsp;&nbsp; $42.06 | &nbsp;&nbsp; $53.38 |
| Total return (%) (r)(s)(t)(x) | 11.85<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.21 | &nbsp;&nbsp;&nbsp;&nbsp;19.09 | &nbsp;&nbsp;&nbsp;&nbsp;3.66 | &nbsp;&nbsp; (15.09)<br>| &nbsp;&nbsp;&nbsp;&nbsp;27.68 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 1.00<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;1.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;0.97 |
| Expenses after expense reductions | 0.99<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 |
| Net investment income (loss) | 0.87<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 |
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $1065322 | &nbsp;&nbsp; $997889 | &nbsp;&nbsp; $902678 | &nbsp;&nbsp; $977368 | &nbsp;&nbsp; $1034115 | &nbsp;&nbsp; $1383344 |

---

**See Notes to Financial Statements**

------

MFS International Intrinsic Value Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R4**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $41.78 | &nbsp;&nbsp; $41.14 | &nbsp;&nbsp; $38.66 | &nbsp;&nbsp; $42.63 | &nbsp;&nbsp; $53.98 | &nbsp;&nbsp; $44.58 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.25 | &nbsp;&nbsp; $0.73 | &nbsp;&nbsp; $0.77 | &nbsp;&nbsp; $0.48 | &nbsp;&nbsp; $0.32 | &nbsp;&nbsp; $0.45 |
| Net realized and unrealized gain (loss) | 4.76 | &nbsp;&nbsp;&nbsp;&nbsp;4.56 | &nbsp;&nbsp;&nbsp;&nbsp;6.23 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp; (7.59)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.82 |
| Total from investment operations | $5.01 | &nbsp;&nbsp; $5.29 | &nbsp;&nbsp; $7.00 | &nbsp;&nbsp; $1.32 | &nbsp;&nbsp; $(7.27)<br>| &nbsp;&nbsp; $12.27 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.78)<br>| &nbsp;&nbsp; $(0.79)<br>| &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.34)<br>|
| From net realized gain |  | &nbsp;&nbsp; (3.87)<br>| &nbsp;&nbsp; (3.73)<br>| &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; (3.63)<br>| &nbsp;&nbsp; (2.53)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(4.65)<br>| &nbsp;&nbsp; $(4.52)<br>| &nbsp;&nbsp; $(5.29)<br>| &nbsp;&nbsp; $(4.08)<br>| &nbsp;&nbsp; $(2.87)<br>|
| Net asset value, end of period (x) | $46.79 | &nbsp;&nbsp; $41.78 | &nbsp;&nbsp; $41.14 | &nbsp;&nbsp; $38.66 | &nbsp;&nbsp; $42.63 | &nbsp;&nbsp; $53.98 |
| Total return (%) (r)(s)(t)(x) | 11.99<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.49 | &nbsp;&nbsp;&nbsp;&nbsp;19.38 | &nbsp;&nbsp;&nbsp;&nbsp;3.94 | &nbsp;&nbsp; (14.89)<br>| &nbsp;&nbsp;&nbsp;&nbsp;27.99 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.75<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 |
| Expenses after expense reductions | 0.74<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.80 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 |
| Net investment income (loss) | 1.12<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.82 | &nbsp;&nbsp;&nbsp;&nbsp;1.96 | &nbsp;&nbsp;&nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 |
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $512006 | &nbsp;&nbsp; $523876 | &nbsp;&nbsp; $557082 | &nbsp;&nbsp; $622734 | &nbsp;&nbsp; $781557 | &nbsp;&nbsp; $1183942 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R6**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $41.88 | &nbsp;&nbsp; $41.23 | &nbsp;&nbsp; $38.75 | &nbsp;&nbsp; $42.72 | &nbsp;&nbsp; $54.06 | &nbsp;&nbsp; $44.63 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.27 | &nbsp;&nbsp; $0.78 | &nbsp;&nbsp; $0.83 | &nbsp;&nbsp; $0.57 | &nbsp;&nbsp; $0.40 | &nbsp;&nbsp; $0.51 |
| Net realized and unrealized gain (loss) | 4.77 | &nbsp;&nbsp;&nbsp;&nbsp;4.57 | &nbsp;&nbsp;&nbsp;&nbsp;6.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.80 | &nbsp;&nbsp; (7.63)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.84 |
| Total from investment operations | $5.04 | &nbsp;&nbsp; $5.35 | &nbsp;&nbsp; $7.05 | &nbsp;&nbsp; $1.37 | &nbsp;&nbsp; $(7.23)<br>| &nbsp;&nbsp; $12.35 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.83)<br>| &nbsp;&nbsp; $(0.84)<br>| &nbsp;&nbsp; $(0.46)<br>| &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(0.39)<br>|
| From net realized gain |  | &nbsp;&nbsp; (3.87)<br>| &nbsp;&nbsp; (3.73)<br>| &nbsp;&nbsp; (4.88)<br>| &nbsp;&nbsp; (3.63)<br>| &nbsp;&nbsp; (2.53)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(4.70)<br>| &nbsp;&nbsp; $(4.57)<br>| &nbsp;&nbsp; $(5.34)<br>| &nbsp;&nbsp; $(4.11)<br>| &nbsp;&nbsp; $(2.92)<br>|
| Net asset value, end of period (x) | $46.92 | &nbsp;&nbsp; $41.88 | &nbsp;&nbsp; $41.23 | &nbsp;&nbsp; $38.75 | &nbsp;&nbsp; $42.72 | &nbsp;&nbsp; $54.06 |
| Total return (%) (r)(s)(t)(x) | 12.03<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.63 | &nbsp;&nbsp;&nbsp;&nbsp;19.48 | &nbsp;&nbsp;&nbsp;&nbsp;4.07 | &nbsp;&nbsp; (14.81)<br>| &nbsp;&nbsp;&nbsp;&nbsp;28.15 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions | 0.65<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 |
| Expenses after expense reductions | 0.64<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 |
| Net investment income (loss) | 1.22<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;2.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.45 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.01 |
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 7 |
| Net assets at end of period (000 omitted) | $14044501 | &nbsp;&nbsp; $12644505 | &nbsp;&nbsp; $11902716 | &nbsp;&nbsp; $10806520 | &nbsp;&nbsp; $11183181 | &nbsp;&nbsp; $13585886 |

---

**See Notes to Financial Statements**

------

MFS International Intrinsic Value Fund

*Financial Highlights - continued*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

MFS International Intrinsic Value Fund

**Notes to Financial Statements (unaudited)**

**(1) Business and Organization**

MFS International Intrinsic Value Fund (the fund) is a diversified series of MFS Series Trust X (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(2) Significant Accounting Policies**

**General** — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of the fund's Statement of Assets and Liabilities through the date that the financial statements were issued. The fund invests in foreign securities. Investments in foreign securities are vulnerable to the effects of changes in the relative values of the local currency and the U.S. dollar and to the effects of changes in each country's market, economic, industrial, political, regulatory, geopolitical, environmental, public health, and other conditions.

**Operating Segments** — An operating segment is defined in FASB Accounting Standards Codification Topic 280-Segment Reporting as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the entity's chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available. The fund represents a single operating segment and the Chairman's Committee of the fund's adviser acts as the segment's CODM. The fund's total returns, expense ratios, and changes in net assets which are used by the CODM to assess segment performance and to make resource allocation decisions to the segment are consistent with that presented within the fund's financial statements.

**Balance Sheet Offsetting** — The fund's accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the International Swaps and Derivatives Association (ISDA) Master Agreement, or similar agreement, does not result in an offset of reported amounts of financial assets and financial liabilities in the Statement of Assets and Liabilities across transactions between the fund and the applicable counterparty. The fund's right to setoff may be restricted or prohibited by the bankruptcy or insolvency laws of the particular jurisdiction to which a specific master netting agreement counterparty is subject. Balance sheet offsetting disclosures, to the extent applicable to the fund, have been included in the fund's Significant Accounting Policies note under the captions for each of the fund's in-scope financial instruments and transactions.

**Investment Valuations** — Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data.

------

MFS International Intrinsic Value Fund

*Notes to Financial Statements (unaudited) - continued* 

An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund's net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund's foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of November 30, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities | $23559010068 | $— | $— | $23559010068 |
| Investment Companies | 862400230 |  |  | 862400230 |
| Total | $24421410298 | $— | $— | $24421410298 |

---

For further information regarding security characteristics, see the Portfolio of Investments.

**Foreign Currency Translation** — Purchases and sales of foreign investments, income, and expenses are converted into U.S. dollars based upon currency exchange rates prevailing on the respective dates of such transactions or on the reporting date for foreign denominated receivables and payables. Gains and losses attributable to foreign currency exchange rates on sales of securities are recorded for financial statement purposes as net realized gains and losses on investments. Gains and losses attributable to foreign exchange rate movements on receivables, payables, income and expenses are recorded for financial statement purposes as foreign currency transaction gains and losses. That portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.

**Security Loans** — Under its Securities Lending Agency Agreement with the fund, Goldman Sachs Agency Lending, as lending agent, loans the securities of the fund to certain qualified institutions (the "Borrowers") approved by the fund. Security loans can be terminated at the discretion of either the lending agent or the fund and the related securities must be returned within the earlier of the standard trade settlement period for such securities or within five business days. The loans are collateralized by cash and/or U.S. government securities in an amount typically at least equal to the market value of the securities loaned. On loans collateralized by cash, the cash collateral is invested in a money market fund. The market value of the loaned securities is determined at the close of business of the fund and any additional required collateral is delivered to the fund on the next business day. The lending agent provides the fund with indemnification against Borrower default. In the event of Borrower default, the lending agent will, for the benefit of the fund, either purchase securities identical to those loaned or pay the fund the market value of the loaned securities. In return, the lending agent assumes the fund's rights to the related collateral. If the collateral value is less than the cost to purchase identical securities or the cash needed to pay their market value, the lending agent is responsible for the shortfall, but only to the extent that such shortfall is not due to a decline in collateral value resulting from collateral reinvestment for which the fund bears the risk of loss. A portion of the income generated upon investment of the collateral is remitted to the Borrowers, and the remainder is allocated between the fund and the lending agent. On loans collateralized by U.S. government securities, a fee is received from the Borrower, and is allocated between the fund and the lending agent. Income from securities lending is separately reported in the Statement of Operations. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. At November 30, 2025, there were no securities on loan or collateral outstanding.

------

MFS International Intrinsic Value Fund

*Notes to Financial Statements (unaudited) - continued* 

**Indemnifications** — Under the fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into agreements with service providers that may contain indemnification clauses. The fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against the fund that have not yet occurred.

**Investment Transactions and Income** — Interest income is recorded on the accrual basis. Dividends received in cash are recorded on the ex-dividend date. Certain dividends from foreign securities will be recorded when the fund is informed of the dividend if such information is obtained subsequent to the ex-dividend date. Dividend and interest payments received in additional securities are recorded on the ex-dividend or ex-interest date in an amount equal to the value of the security on such date.

The fund may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statement of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statement of Operations.

Investment transactions are recorded on the trade date. In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis.

**Tax Matters and Distributions** — The fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. The fund's federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for generally a three year period. Management has analyzed the fund's tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability. Foreign taxes, if any, have been accrued by the fund in the accompanying financial statements in accordance with the applicable foreign tax law. Foreign income taxes may be withheld by certain countries in which the fund invests. Additionally, capital gains realized by the fund on securities issued in or by certain foreign countries may be subject to capital gains tax imposed by those countries.

The fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. These reclaims are recorded only when certainty exists as to the likelihood of receipt and the potential timing of payment. For the six months ended November 30, 2025, estimated professional fees associated with recovering these foreign taxes accrued for in the prior year were reduced by $877,213 pursuant to agreed upon limitations and are reflected as Reduction of tax reclaim recovery expenses in the Statement of Operations.

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.

Book/tax differences primarily relate to passive foreign investment companies, wash sale loss deferrals, treating a portion of the proceeds from redemptions as a distribution for tax purposes, non-deductible IRS compliance fees for tax reclaims, and foreign taxes.

The tax character of distributions declared to shareholders for the last fiscal year is as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**5/31/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $448614901 |
| Long-term capital gains | &nbsp;&nbsp; 1936149485 |
| Total distributions | &nbsp;&nbsp; $2384764386 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

------

MFS International Intrinsic Value Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | |
|:---|:---|
| **As of 11/30/25** |  |
| Cost of investments | &nbsp;&nbsp; $15629183184 |
| Gross appreciation | &nbsp;&nbsp; 9302600548 |
| Gross depreciation | &nbsp;&nbsp; (510373434)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $8792227114 |
| **As of 5/31/25** |  |
| Undistributed ordinary income | &nbsp;&nbsp; 294483468 |
| Undistributed long-term capital gain | &nbsp;&nbsp; 717709719 |
| Other temporary differences | &nbsp;&nbsp; 326979 |
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; 7284313786 |

---

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

**Multiple Classes of Shares of Beneficial Interest** — The fund offers multiple classes of shares, which differ in their respective distribution and service fees. The fund's income, realized and unrealized gain (loss), and common expenses are allocated to shareholders based on the daily net assets of each class. Dividends are declared separately for each class. Differences in per share dividend rates are generally due to differences in separate class expenses. Class B and Class C shares will convert to Class A shares approximately eight years after purchase. The fund's distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months** <br>**ended** <br>**11/30/25**<br>| **Year** <br>**ended** <br>**5/31/25**<br>|
| Class A | $— | &nbsp;&nbsp; $191372635 |
| Class B |  | &nbsp;&nbsp; 85572 |
| Class C |  | &nbsp;&nbsp; 1787419 |
| Class I |  | &nbsp;&nbsp; 676664941 |
| Class R1 |  | &nbsp;&nbsp; 982478 |
| Class R2 |  | &nbsp;&nbsp; 13398256 |
| Class R3 |  | &nbsp;&nbsp; 101381345 |
| Class R4 |  | &nbsp;&nbsp; 54243582 |
| Class R6 |  | &nbsp;&nbsp; 1344848158 |
| Total | $— | &nbsp;&nbsp; $2384764386 |

---

**(3) Transactions with Affiliates**

**Investment Adviser** — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. The management fee is computed daily and paid monthly at the following annual rates based on the fund's average daily net assets:

---

| | |
|:---|:---|
| Up to $1 billion | 0.90% |
| In excess of $1 billion and up to $2 billion | 0.80% |
| In excess of $2 billion and up to $10 billion | 0.70% |
| In excess of $10 billion and up to $15 billion | 0.65% |
| In excess of $15 billion and up to $20 billion | 0.55% |
| In excess of $20 billion and up to $25 billion | 0.50% |
| In excess of $25 billion and up to $30 billion | 0.45% |
| In excess of $30 billion and up to $35 billion | 0.43% |
| In excess of $35 billion | 0.41% |

---

MFS has agreed in writing to reduce its management fee by a specified amount if certain MFS mutual fund assets exceed thresholds agreed to by MFS and the fund's Board of Trustees. MFS has also agreed in writing to waive at least 0.01% of its management fee as part of this agreement. The agreement to waive at least 0.01% of the management fee will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this management fee reduction amounted to $1,643,374, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.63% of the fund's average daily net assets.

------

MFS International Intrinsic Value Fund

*Notes to Financial Statements (unaudited) - continued* 

**Distributor** — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received $9,820 for the six months ended November 30, 2025, as its portion of the initial sales charge on sales of Class A shares of the fund.

The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.

The fund's distribution plan provides that the fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries. The distribution and service fees are computed daily and paid monthly.

**Distribution Plan Fee Table:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| Class A |  | 0.25% | 0.25% | 0.25% | $2241605 |
| Class B | 0.75% | 0.25% | 1.00% | 0.99% | 2296 |
| Class C | 0.75% | 0.25% | 1.00% | 1.00% | 48700 |
| Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 42967 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 299312 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 1278841 |
| Total Distribution and Service Fees  |  |  |  |  | $3913721 |

---

(d) In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each

class's average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting

period. Any rate changes, if applicable, are detailed below.

(e) The annual effective rates represent actual fees incurred under the distribution plan for the six months ended November 30, 2025 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended November 30, 2025, this rebate amounted to $375, $22, and $88 for Class A, Class B, and Class C shares, respectively, and is included in the reduction of total expenses in the Statement of Operations.

Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class B shares are subject to a CDSC in the event of a shareholder redemption within six years of purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD and during the six months ended November 30, 2025, were as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| Class A | $— |
| Class B |  |
| Class C | 275 |

---

**Shareholder Servicing Agent** — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from the fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of the fund as determined periodically under the supervision of the fund's Board of Trustees. For the six months ended November 30, 2025, the fee was $95,591, which equated to 0.0008% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the six months ended November 30, 2025, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $5,485,193.

**Administrator** — MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to the fund. Under an administrative services agreement, the fund reimburses MFS the costs incurred to provide these services. The fund is charged an annual fixed amount of $17,500 plus a fee based on average daily net assets. The administrative services fee is computed daily and paid monthly. The administrative services fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.0023% of the fund's average daily net assets.

**Trustees' and Officers' Compensation** — The fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. Independent Trustees' compensation is accrued daily and paid subsequent to each Trustee Board meeting. The fund does not pay compensation directly to Trustees or officers of the fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to the fund. Certain officers and Trustees of the fund are officers or directors of MFS, MFD, and MFSC.

------

MFS International Intrinsic Value Fund

*Notes to Financial Statements (unaudited) - continued* 

**Other** — The fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.

MFS purchased or redeemed fund shares on the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| 8/19/2024 | Redemption | Class I | 3 | $144 |
| 8/19/2024 | Redemption | Class R1 | 5 | 189 |
| 8/19/2024 | Redemption | Class R2 | 5 | 194 |
| 8/19/2024 | Redemption | Class R3 | 4 | 186 |
| 8/19/2024 | Redemption | Class R4 | 5 | 191 |

---

**(4) Portfolio Securities**

For the six months ended November 30, 2025, purchases and sales of investments, other than short-term obligations and in-kind transactions, aggregated $2,113,512,562 and $2,854,493,006, respectively.

**(5) Shares of Beneficial Interest** 

The fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** <br>**11/30/25** | **Six months ended** <br>**11/30/25** | **Year ended** <br>**5/31/25** | **Year ended** <br>**5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 1884964 | &nbsp;&nbsp; $83569774 | &nbsp;&nbsp; 6390206 | &nbsp;&nbsp; $245075378 |
| Class C | 2940 | &nbsp;&nbsp; 109802 | &nbsp;&nbsp; 9775 | &nbsp;&nbsp; 328626 |
| Class I | 5193309 | &nbsp;&nbsp; 248875426 | &nbsp;&nbsp; 18383455 | &nbsp;&nbsp; 780217654 |
| Class R1 | 11937 | &nbsp;&nbsp; 444267 | &nbsp;&nbsp; 32850 | &nbsp;&nbsp; 1096086 |
| Class R2 | 219663 | &nbsp;&nbsp; 8533191 | &nbsp;&nbsp; 472563 | &nbsp;&nbsp; 16704361 |
| Class R3 | 1943243 | &nbsp;&nbsp; 84158987 | &nbsp;&nbsp; 5741268 | &nbsp;&nbsp; 221140037 |
| Class R4 | 1012408 | &nbsp;&nbsp; 44258558 | &nbsp;&nbsp; 2613734 | &nbsp;&nbsp; 103215035 |
| Class R6 | 21493198 | &nbsp;&nbsp; 970799869 | &nbsp;&nbsp; 24885469 | &nbsp;&nbsp; 1006508678 |
|  | 31761662 | &nbsp;&nbsp; $1440749874 | &nbsp;&nbsp; 58529320 | &nbsp;&nbsp; $2374285855 |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A |  | $— | &nbsp;&nbsp; 4432789 | &nbsp;&nbsp; $161264855 |
| Class B |  |  | &nbsp;&nbsp; 2524 | &nbsp;&nbsp; 85238 |
| Class C |  |  | &nbsp;&nbsp; 56257 | &nbsp;&nbsp; 1725956 |
| Class I |  |  | &nbsp;&nbsp; 15429175 | &nbsp;&nbsp; 610841021 |
| Class R1 |  |  | &nbsp;&nbsp; 31837 | &nbsp;&nbsp; 982478 |
| Class R2 |  |  | &nbsp;&nbsp; 415064 | &nbsp;&nbsp; 13365070 |
| Class R3 |  |  | &nbsp;&nbsp; 2823206 | &nbsp;&nbsp; 101381345 |
| Class R4 |  |  | &nbsp;&nbsp; 1243786 | &nbsp;&nbsp; 45435497 |
| Class R6 |  |  | &nbsp;&nbsp; 35289950 | &nbsp;&nbsp; 1291612152 |
|  |  | $— | &nbsp;&nbsp; 59724588 | &nbsp;&nbsp; $2226693612 |

---

------

MFS International Intrinsic Value Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **11/30/25** | **Six months ended**<br> **11/30/25** | **Year ended**<br> **5/31/25** | **Year ended**<br> **5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares reacquired |  |  |  |  |
| Class A | (3699055)<br>| &nbsp;&nbsp; $(161968842)<br>| &nbsp;&nbsp; (13888017)<br>| &nbsp;&nbsp; $(536473537)<br>|
| Class B | (6146)<br>| &nbsp;&nbsp; (251116)<br>| &nbsp;&nbsp; (19602)<br>| &nbsp;&nbsp; (728030)<br>|
| Class C | (113834)<br>| &nbsp;&nbsp; (4199838)<br>| &nbsp;&nbsp; (330316)<br>| &nbsp;&nbsp; (11102658)<br>|
| Class I | (19868866)<br>| &nbsp;&nbsp; (970754546)<br>| &nbsp;&nbsp; (36870222)<br>| &nbsp;&nbsp; (1562279702)<br>|
| Class R1 | (34802)<br>| &nbsp;&nbsp; (1317286)<br>| &nbsp;&nbsp; (60024)<br>| &nbsp;&nbsp; (2006959)<br>|
| Class R2 | (508715)<br>| &nbsp;&nbsp; (19819011)<br>| &nbsp;&nbsp; (1106393)<br>| &nbsp;&nbsp; (39281172)<br>|
| Class R3 | (3049965)<br>| &nbsp;&nbsp; (131025640)<br>| &nbsp;&nbsp; (6536961)<br>| &nbsp;&nbsp; (252755511)<br>|
| Class R4 | (2607969)<br>| &nbsp;&nbsp; (117015583)<br>| &nbsp;&nbsp; (4860493)<br>| &nbsp;&nbsp; (196616853)<br>|
| Class R6 | (24113125)<br>| &nbsp;&nbsp; (1070127643)<br>| &nbsp;&nbsp; (46915895)<br>| &nbsp;&nbsp; (1856086723)<br>|
|  | (54002477)<br>| &nbsp;&nbsp; $(2476479505)<br>| &nbsp;&nbsp; (110587923)<br>| &nbsp;&nbsp; $(4457331145)<br>|
| Net change |  |  |  |  |
| Class A | (1814091)<br>| &nbsp;&nbsp; $(78399068)<br>| &nbsp;&nbsp; (3065022)<br>| &nbsp;&nbsp; $(130133304)<br>|
| Class B | (6146)<br>| &nbsp;&nbsp; (251116)<br>| &nbsp;&nbsp; (17078)<br>| &nbsp;&nbsp; (642792)<br>|
| Class C | (110894)<br>| &nbsp;&nbsp; (4090036)<br>| &nbsp;&nbsp; (264284)<br>| &nbsp;&nbsp; (9048076)<br>|
| Class I | (14675557)<br>| &nbsp;&nbsp; (721879120)<br>| &nbsp;&nbsp; (3057592)<br>| &nbsp;&nbsp; (171221027)<br>|
| Class R1 | (22865)<br>| &nbsp;&nbsp; (873019)<br>| &nbsp;&nbsp; 4663 | &nbsp;&nbsp; 71605 |
| Class R2 | (289052)<br>| &nbsp;&nbsp; (11285820)<br>| &nbsp;&nbsp; (218766)<br>| &nbsp;&nbsp; (9211741)<br>|
| Class R3 | (1106722)<br>| &nbsp;&nbsp; (46866653)<br>| &nbsp;&nbsp; 2027513 | &nbsp;&nbsp; 69765871 |
| Class R4 | (1595561)<br>| &nbsp;&nbsp; (72757025)<br>| &nbsp;&nbsp; (1002973)<br>| &nbsp;&nbsp; (47966321)<br>|
| Class R6 | (2619927)<br>| &nbsp;&nbsp; (99327774)<br>| &nbsp;&nbsp; 13259524 | &nbsp;&nbsp; 442034107 |
|  | (22240815)<br>| &nbsp;&nbsp; $(1035729631)<br>| &nbsp;&nbsp; 7665985 | &nbsp;&nbsp; $143648322 |

---

The fund is one of several mutual funds in which certain MFS funds may invest. The MFS funds do not invest in the underlying funds for the purpose of exercising management or control. At the end of the period, the MFS International Diversification Fund was the owner of record of approximately 27% of the value of outstanding voting shares of the fund. In addition, the MFS Aggressive Growth Allocation Fund, the MFS Conservative Allocation Fund, the MFS Growth Allocation Fund, the MFS Lifetime 2025 Fund, the MFS Lifetime 2030 Fund, the MFS Lifetime 2035 Fund, the MFS Lifetime 2040 Fund, the MFS Lifetime 2045 Fund, the MFS Lifetime 2050 Fund, the MFS Lifetime 2055 Fund, the MFS Lifetime 2060 Fund, the MFS Lifetime 2065 Fund, the MFS Lifetime Income Fund, and the MFS Moderate Allocation Fund were each the owners of record of less than 1% of the value of outstanding voting shares of the fund.

Effective at the close of business on May 29, 2015, purchases of the fund were closed to new investors subject to certain exceptions. Effective June 1, 2019, purchases of the fund's Class B shares were closed to new and existing investors subject to certain exceptions. Effective September 29, 2023, purchases of the fund's Class R1 and Class R2 shares were closed to new eligible investors.

**(6) Line of Credit**

The fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by the fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate) plus 0.10%, 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 12, 2026 unless extended or renewed. In addition, the fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the six months ended November 30, 2025, the fund's commitment fee and interest expense were $53,104 and $0, respectively, and are included in "Miscellaneous" expense in the Statement of Operations.

------

MFS International Intrinsic Value Fund

*Notes to Financial Statements (unaudited) - continued* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(7) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the six months ended November 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br> **or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| IMI PLC \* | $344149441 | $— | $62235710 | $31431595 | $33518066 | $— |
| MFS Institutional Money Market Portfolio | 813230360 | 1322042265 | 1273000060 | (10968)<br>| 138633 | $862400230 |
|  | $1157379801 | $1322042265 | $1335235770 | $31420627 | $33656699 | $862400230 |

---

\* Held at period end. No longer considered an affiliated issuer.

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| IMI PLC \* | &nbsp;&nbsp; $1785288 | $— |
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; 16165067 |  |
|  | &nbsp;&nbsp; $17950355 | $— |

---

\* Held at period end. No longer considered an affiliated issuer.

**(8) Redemptions In-Kind**

On July 29, 2025, the fund recorded a redemption in-kind of portfolio securities and cash that was valued at $117,567,599. The redeeming shareholder generally receives a pro rata share of the securities held by the fund. The distribution of such securities generated a realized gain of $49,280,376 for the fund, which is included in Net realized gain (loss) in the Statement of Operations. For tax purposes, no gains or losses were recognized with respect to the portfolio securities redeemed in-kind.

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS International Intrinsic Value Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS International Intrinsic Value Fund.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

This information is disclosed as part of the financial statements included in Item 7 above for MFS International Intrinsic Value Fund. See the Statement of Operations and Note 3 within the Notes to Financial Statements for more information.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

------

MFS International Intrinsic Value Fund

**Board Review of Investment Advisory Agreement**

**MFS International Intrinsic Value Fund**

The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested ("independent") Trustees, voting separately, annually approve the continuation of the Fund's investment advisory agreement with MFS. The Trustees consider matters bearing on the Fund and its advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2025 ("contract review meetings") for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Fund and the other investment companies that the Board oversees (the "MFS Funds"). The independent Trustees were assisted in their evaluation of the Fund's investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.

In connection with their deliberations regarding the continuation of the investment advisory agreement, the Trustees, including the independent Trustees, considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The investment advisory agreement for the Fund was considered separately, although the Trustees also took into account the common interests of all MFS Funds in their review. As described below, the Trustees considered the nature, quality, and extent of the various investment advisory, administrative, and shareholder services performed by MFS under the existing investment advisory agreement and other arrangements with the Fund.

In connection with their contract review meetings, the Trustees received and relied upon materials that included, among other items: (i) information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent third party, on the investment performance of the Fund for various time periods ended December 31, 2024 and the investment performance of a group of funds with substantially similar investment classifications/objectives (the "Broadridge performance universe"), (ii) information provided by Broadridge on the Fund's advisory fees and other expenses and the advisory fees and other expenses of comparable funds identified by Broadridge as well as all other funds in the same investment classification/category (the "Broadridge expense group and universe"), (iii) information provided by MFS on the advisory fees of portfolios of other clients of MFS, including institutional separate accounts and other clients, (iv) information as to whether and to what extent applicable expense waivers, reimbursements or fee "breakpoints" are observed for the Fund, (v) information regarding MFS' financial results and financial condition, including MFS' and certain of its affiliates' estimated profitability from services performed for the Fund and the MFS Funds as a whole, and compared to MFS' institutional business, (vi) MFS' views regarding the outlook for the mutual fund industry and the strategic business plans of MFS, (vii) descriptions of various functions performed by MFS for the Funds, such as compliance monitoring and portfolio trading practices, and (viii) information regarding the overall organization of MFS, including information about MFS' senior management and other personnel providing investment advisory, administrative and other services to the Fund and the other MFS Funds. The comparative performance, fee and expense information prepared and provided by Broadridge was not independently verified and the independent Trustees did not independently verify any information provided to them by MFS.

The Trustees' conclusion as to the continuation of the investment advisory agreement was based on a comprehensive consideration of all information provided to the Trustees and not the result of any single factor. Some of the factors that figured particularly in the Trustees' deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. It is also important to recognize that the fee arrangements for the Fund and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees' conclusions may be based, in part, on their consideration of these same arrangements during the course of the year and in prior years.

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 2nd quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 1st quintile for the one-period and the 4th quintile for the three-year period ended December 31, 2024 relative to the Broadridge performance universe. Because of the passage of time, these performance results may differ from the performance results for more recent periods, including those shown elsewhere in this report.

------

MFS International Intrinsic Value Fund

*Board Review of Investment Advisory Agreement - continued*

In the course of their deliberations, the Trustees took into account information provided by MFS in connection with the contract review meetings, as well as during investment review meetings conducted with portfolio management personnel during the course of the year regarding the Fund's performance. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that they were satisfied with MFS' responses and efforts relating to investment performance.

In assessing the reasonableness of the Fund's advisory fee, the Trustees considered, among other information, the Fund's advisory fee and the total expense ratio of the Fund's Class I shares as a percentage of average daily net assets and the advisory fee and total expense ratios of the Broadridge expense group based on information provided by Broadridge. The Trustees considered that, according to the data provided by Broadridge (which takes into account any fee reductions or expense limitations that were in effect during the Fund's last fiscal year), the Fund's effective advisory fee rate and total expense ratio were each approximately at the Broadridge expense group median.

The Trustees also considered the advisory fees charged by MFS to any institutional separate accounts advised by MFS ("separate accounts") and unaffiliated investment companies for which MFS serves as subadviser ("subadvised funds") that have comparable investment strategies to the Fund, if any. In comparing these fees, the Trustees considered information provided by MFS as to the generally broader scope of services provided by MFS to the Fund, as well as the more extensive regulatory burdens imposed on MFS in managing the Fund, in comparison to separate accounts and subadvised funds. The Trustees also considered the higher demands placed on MFS' investment personnel and trading infrastructure as a result of the daily cash in-flows and out-flows of the Fund in comparison to separate accounts.

The Trustees also considered whether the Fund may benefit from any economies of scale in the management of the Fund in the event of growth in assets of the Fund and/or growth in assets of the MFS Funds as a whole. They noted that the Fund's advisory fee rate schedule is subject to contractual breakpoints that reduce the Fund's advisory fee rate on average daily net assets over $1 billion, $2 billion, $10 billion, $15 billion, $20 billion, $25 billion, $30 billion and $35 billion. The Trustees also noted that MFS has agreed in writing to waive a portion of the management fees of certain MFS Funds, including the Fund, if the total combined assets of certain funds within the MFS Funds' complex increase above agreed upon thresholds (the "group fee waiver"), enabling the Fund's shareholders to share in the benefits from any economies of scale at the complex level. The group fee waiver is reviewed and renewed annually between the Board and MFS. The Trustees concluded that the breakpoints and the group fee waiver were sufficient to allow the Fund to benefit from economies of scale as its assets and overall complex assets grow.

The Trustees also considered information prepared by MFS relating to MFS' costs and profits with respect to the Fund, the MFS Funds considered as a group, and other investment companies and accounts advised by MFS, as well as MFS' methodologies used to determine and allocate its costs to the MFS Funds, the Fund and other accounts and products for purposes of estimating profitability.

After reviewing these and other factors described herein, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that the advisory fees charged to the Fund represent reasonable compensation in light of the services being provided by MFS to the Fund.

In addition, the Trustees considered MFS' resources and related efforts to continue to retain, attract and motivate capable personnel to serve the Fund. The Trustees also considered current and developing conditions in the financial services industry, including the presence of large and well-capitalized companies which are spending, and appear to be prepared to continue to spend, substantial sums to engage personnel and to provide services to competing investment companies. In this regard, the Trustees also considered the financial resources of MFS and its ultimate parent, Sun Life Financial Inc. The Trustees also considered the advantages and possible disadvantages to the Fund of having an adviser that also serves other investment companies as well as other accounts.

The Trustees also considered the nature, quality, cost, and extent of administrative, transfer agency, and distribution services provided to the Fund by MFS and its affiliates under agreements and plans other than the investment advisory agreement, including any 12b-1 fees the Fund pays to MFS Fund Distributors, Inc., an affiliate of MFS. The Trustees also considered the nature, extent and quality of certain other services MFS performs or arranges for on the Fund's behalf, which may include securities lending programs, directed expense payment programs, class action recovery programs, and MFS' interaction with third-party service providers, principally custodians and sub-custodians. The Trustees concluded that the various non-advisory services provided by MFS and its affiliates on behalf of the Fund were satisfactory.

The Trustees considered so-called "fall-out benefits" to MFS such as reputational value derived from serving as investment manager to the MFS Funds. The Trustees also considered that MFS discontinued its historic practice of obtaining investment research from portfolio brokerage commissions paid by certain MFS Funds effective January 2018, and directly pays or voluntarily reimburses a Fund, if applicable, for the costs of external research acquired through the use of the Fund's portfolio brokerage commissions.

------

MFS International Intrinsic Value Fund

*Board Review of Investment Advisory Agreement - continued*

Based on their evaluation of factors that they deemed to be material, including those factors described above, the Board of Trustees, including the independent Trustees, concluded that the Fund's investment advisory agreement with MFS should be continued for an additional one-year period, commencing August 1, 2025.

------

MFS International Diversification Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS International Diversification Fund

**Portfolio of Investments - 11/30/25 (unaudited)**

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Mutual Funds (h) – 100.0% | Mutual Funds (h) – 100.0% | Mutual Funds (h) – 100.0% |
| International Equity Funds – 99.8% | International Equity Funds – 99.8% | International Equity Funds – 99.8% |
| MFS Emerging Markets Equity Fund - Class R6 | 165304920 | &nbsp;&nbsp; $7536251280 |
| MFS International Growth Fund - Class R6 | 130702591 | &nbsp;&nbsp; 6503760949 |
| MFS International Intrinsic Value Fund - Class R6 | 141747952 | &nbsp;&nbsp; 6650813896 |
| MFS International Large Cap Value Fund - Class R6 | 375598792 | &nbsp;&nbsp; 6629318679 |
| MFS International New Discovery Fund - Class R6 | 124212497 | &nbsp;&nbsp; 4307689405 |
| MFS Research International Fund - Class R6 | 452281743 | &nbsp;&nbsp; 12075922532 |
|  |  | &nbsp;&nbsp; $43703756741 |
| Money Market Funds – 0.2% | Money Market Funds – 0.2% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) | 84463192 | &nbsp;&nbsp; $84480085 |
| **Total Mutual Funds (Identified Cost, $30,425,583,879)** | **Total Mutual Funds (Identified Cost, $30,425,583,879)** | &nbsp;&nbsp; **$43788236826** |
| Other Assets, Less Liabilities – 0.0% |  | &nbsp;&nbsp; 13669985 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$43801906811** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate value of the fund's investments in affiliated issuers was $43,788,236,826.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

**See Notes to Financial Statements**

MDIFS-SEM

------

MFS International Diversification Fund

**Financial Statements** \| **Statement of Assets and Liabilities**

This statement represents your fund's balance sheet, which details the assets and liabilities comprising the total value of the fund.

---

| | |
|:---|:---|
| **At 11/30/25 (unaudited)**<br> **Assets**<br>|  |
| Investments in affiliated issuers, at value (identified cost, $30,425,583,879) | &nbsp;&nbsp; $43788236826 |
| Receivables for |  |
| Investments sold | &nbsp;&nbsp; 13355983 |
| Fund shares sold | &nbsp;&nbsp; 28613640 |
| Receivable from investment adviser | &nbsp;&nbsp; 229264 |
| Total assets | &nbsp;&nbsp; $43830435713 |
| **Liabilities** |  |
| Payable to custodian | &nbsp;&nbsp; $20506 |
| Payables for |  |
| Investments purchased | &nbsp;&nbsp; 2014210 |
| Fund shares reacquired | &nbsp;&nbsp; 19114489 |
| Payable to affiliates |  |
| Administrative services fee | &nbsp;&nbsp; 240 |
| Shareholder servicing costs | &nbsp;&nbsp; 5983907 |
| Distribution and service fees | &nbsp;&nbsp; 217740 |
| Payable for independent Trustees' compensation | &nbsp;&nbsp; 10221 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 1167589 |
| Total liabilities | &nbsp;&nbsp; $28528902 |
| Net assets | &nbsp;&nbsp; $43801906811 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $29838749103 |
| Total distributable earnings (loss) | &nbsp;&nbsp; 13963157708 |
| Net assets | &nbsp;&nbsp; $43801906811 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 1532226614 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | &nbsp;&nbsp; **Shares** <br>**outstanding**<br>| &nbsp;&nbsp; **Net asset value** <br>**per share (a)**<br>|
| Class A | &nbsp;&nbsp;&nbsp; $3946434498 | &nbsp;&nbsp;&nbsp; 139782774 | &nbsp;&nbsp;&nbsp; $28.23 |
| Class B | &nbsp;&nbsp;&nbsp; 2752679 | &nbsp;&nbsp;&nbsp; 98975 | &nbsp;&nbsp;&nbsp;&nbsp;27.81 |
| Class C | &nbsp;&nbsp;&nbsp; 210409370 | &nbsp;&nbsp;&nbsp; 7718630 | &nbsp;&nbsp;&nbsp;&nbsp;27.26 |
| Class I | &nbsp;&nbsp;&nbsp; 16630867478 | &nbsp;&nbsp;&nbsp; 580697977 | &nbsp;&nbsp;&nbsp;&nbsp;28.64 |
| Class R1 | &nbsp;&nbsp;&nbsp; 6427917 | &nbsp;&nbsp;&nbsp; 240848 | &nbsp;&nbsp;&nbsp;&nbsp;26.69 |
| Class R2 | &nbsp;&nbsp;&nbsp; 49181095 | &nbsp;&nbsp;&nbsp; 1778325 | &nbsp;&nbsp;&nbsp;&nbsp;27.66 |
| Class R3 | &nbsp;&nbsp;&nbsp; 1478529643 | &nbsp;&nbsp;&nbsp; 52895777 | &nbsp;&nbsp;&nbsp;&nbsp;27.95 |
| Class R4 | &nbsp;&nbsp;&nbsp; 842690710 | &nbsp;&nbsp;&nbsp; 29533825 | &nbsp;&nbsp;&nbsp;&nbsp;28.53 |
| Class R6 | &nbsp;&nbsp;&nbsp; 20634613421 | &nbsp;&nbsp;&nbsp; 719479483 | &nbsp;&nbsp;&nbsp;&nbsp;28.68 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Maximum offering price per share was equal to the net asset value per share for all
 share classes, except for Class A, for which the maximum offering price per share was $29.95 [100 / 94.25 x $28.23]. On sales of $50,000 or
 more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class
 A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and
 R6.

**See Notes to Financial Statements**

------

MFS International Diversification Fund

**Financial Statements** \| **Statement of Operations**

This statement describes how much your fund earned in investment income and accrued in expenses. It also describes any gains and/or losses generated by fund operations.

---

| | |
|:---|:---|
| **Six months ended 11/30/25 (unaudited)**<br> **Net investment income (loss)**<br>|  |
| Income |  |
| Dividends from affiliated issuers | &nbsp;&nbsp; $1649923 |
| Expenses |  |
| Distribution and service fees | &nbsp;&nbsp; $8010345 |
| Shareholder servicing costs | &nbsp;&nbsp; 11873521 |
| Administrative services fee | &nbsp;&nbsp; 8775 |
| Independent Trustees' compensation | &nbsp;&nbsp; 91730 |
| Custodian fee | &nbsp;&nbsp; 50378 |
| Shareholder communications | &nbsp;&nbsp; 993815 |
| Audit and tax fees | &nbsp;&nbsp; 25700 |
| Legal fees | &nbsp;&nbsp; 98963 |
| Miscellaneous | &nbsp;&nbsp; 524743 |
| Total expenses | &nbsp;&nbsp; $21677970 |
| Reduction of expenses by investment adviser and distributor | &nbsp;&nbsp; (2240105)<br>|
| Net expenses | &nbsp;&nbsp; $19437865 |
| Net investment income (loss) | &nbsp;&nbsp; $(17787942)<br>|
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Investments in affiliated issuers | &nbsp;&nbsp; $336796401 |
| Change in unrealized appreciation or depreciation |  |
| Affiliated issuers | &nbsp;&nbsp; $3763829408 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $4100625809 |
| Change in net assets from operations | &nbsp;&nbsp; $4082837867 |

---

**See Notes to Financial Statements**

------

MFS International Diversification Fund

**Financial Statements** \| **Statements of Changes in Net Assets**

These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions.

---

| | | |
|:---|:---|:---|
|  | **Six months ended** | **Year ended** |
|  | <br>**11/30/25** <br>**(unaudited)**<br>| <br>**5/31/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $(17787942)<br>| &nbsp;&nbsp; $851658733 |
| Net realized gain (loss) | 336796401 | &nbsp;&nbsp; 1068172148 |
| Net unrealized gain (loss) | 3763829408 | &nbsp;&nbsp; 3353145261 |
| Change in net assets from operations | $4082837867 | &nbsp;&nbsp; $5272976142 |
| Total distributions to shareholders | $— | &nbsp;&nbsp; $(1261783740)<br>|
| Change in net assets from fund share transactions | $(1684446377)<br>| &nbsp;&nbsp; $(1233134332)<br>|
| Total change in net assets | $2398391490 | &nbsp;&nbsp; $2778058070 |
| **Net assets** |  |  |
| At beginning of period | 41403515321 | &nbsp;&nbsp; 38625457251 |
| At end of period | $43801906811 | &nbsp;&nbsp; $41403515321 |

---

**See Notes to Financial Statements**

------

MFS International Diversification Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years. Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class A**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $25.71 | &nbsp;&nbsp; $23.29 | &nbsp;&nbsp; $21.20 | &nbsp;&nbsp; $21.37 | &nbsp;&nbsp; $25.51 | &nbsp;&nbsp; $18.80 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.05)<br>| &nbsp;&nbsp; $0.46 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.40 | &nbsp;&nbsp; $0.10 |
| Net realized and unrealized gain (loss) | 2.57 | &nbsp;&nbsp;&nbsp;&nbsp;2.69 | &nbsp;&nbsp;&nbsp;&nbsp;2.54 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp; (3.92)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.96 |
| Total from investment operations | $2.52 | &nbsp;&nbsp; $3.15 | &nbsp;&nbsp; $2.96 | &nbsp;&nbsp; $0.31 | &nbsp;&nbsp; $(3.52)<br>| &nbsp;&nbsp; $7.06 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(0.08)<br>| &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(0.12)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.23)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.73)<br>| &nbsp;&nbsp; $(0.87)<br>| &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(0.62)<br>| &nbsp;&nbsp; $(0.35)<br>|
| Net asset value, end of period (x) | $28.23 | &nbsp;&nbsp; $25.71 | &nbsp;&nbsp; $23.29 | &nbsp;&nbsp; $21.20 | &nbsp;&nbsp; $21.37 | &nbsp;&nbsp; $25.51 |
| Total return (%) (r)(s)(t)(x) | 9.80<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.98 | &nbsp;&nbsp;&nbsp;&nbsp;14.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 | &nbsp;&nbsp; (14.16)<br>| &nbsp;&nbsp;&nbsp;&nbsp;37.66 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.36<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 |
| Expenses after expense reductions (h) | 0.35<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 |
| Net investment income (loss) (l) | (0.34)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;1.93 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;1.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.46 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 |
| Net assets at end of period (000 omitted) | $3946434 | &nbsp;&nbsp; $3784301 | &nbsp;&nbsp; $3689945 | &nbsp;&nbsp; $3498538 | &nbsp;&nbsp; $3644253 | &nbsp;&nbsp; $4381231 |

---

**See Notes to Financial Statements**

------

MFS International Diversification Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class B**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $25.43 | &nbsp;&nbsp; $22.97 | &nbsp;&nbsp; $20.87 | &nbsp;&nbsp; $21.12 | &nbsp;&nbsp; $25.16 | &nbsp;&nbsp; $18.61 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.15)<br>| &nbsp;&nbsp; $0.27 | &nbsp;&nbsp; $0.23 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.21 | &nbsp;&nbsp; $(0.06)<br>|
| Net realized and unrealized gain (loss) | 2.53 | &nbsp;&nbsp;&nbsp;&nbsp;2.69 | &nbsp;&nbsp;&nbsp;&nbsp;2.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp; (3.86)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.84 |
| Total from investment operations | $2.38 | &nbsp;&nbsp; $2.96 | &nbsp;&nbsp; $2.75 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $(3.65)<br>| &nbsp;&nbsp; $6.78 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.30)<br>| $— | &nbsp;&nbsp; $(0.18)<br>| $— |
| From net realized gain |  | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.23)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(0.65)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.39)<br>| &nbsp;&nbsp; $(0.23)<br>|
| Net asset value, end of period (x) | $27.81 | &nbsp;&nbsp; $25.43 | &nbsp;&nbsp; $22.97 | &nbsp;&nbsp; $20.87 | &nbsp;&nbsp; $21.12 | &nbsp;&nbsp; $25.16 |
| Total return (%) (r)(s)(t)(x) | 9.36<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.16 | &nbsp;&nbsp;&nbsp;&nbsp;13.32 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp; (14.73)<br>| &nbsp;&nbsp;&nbsp;&nbsp;36.51 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.11<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 |
| Expenses after expense reductions (h) | 1.10<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 |
| Net investment income (loss) (l) | (1.09)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.16 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp; (0.28)<br>|
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 |
| Net assets at end of period (000 omitted) | $2753 | &nbsp;&nbsp; $3892 | &nbsp;&nbsp; $6527 | &nbsp;&nbsp; $9428 | &nbsp;&nbsp; $13672 | &nbsp;&nbsp; $21542 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class C**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $24.92 | &nbsp;&nbsp; $22.56 | &nbsp;&nbsp; $20.55 | &nbsp;&nbsp; $20.80 | &nbsp;&nbsp; $24.83 | &nbsp;&nbsp; $18.36 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.14)<br>| &nbsp;&nbsp; $0.27 | &nbsp;&nbsp; $0.25 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $(0.06)<br>|
| Net realized and unrealized gain (loss) | 2.48 | &nbsp;&nbsp;&nbsp;&nbsp;2.62 | &nbsp;&nbsp;&nbsp;&nbsp;2.45 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp; (3.82)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.76 |
| Total from investment operations | $2.34 | &nbsp;&nbsp; $2.89 | &nbsp;&nbsp; $2.70 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $(3.60)<br>| &nbsp;&nbsp; $6.70 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.31)<br>| &nbsp;&nbsp; $(0.34)<br>| $— | &nbsp;&nbsp; $(0.22)<br>| $— |
| From net realized gain |  | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.23)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(0.69)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(0.23)<br>|
| Net asset value, end of period (x) | $27.26 | &nbsp;&nbsp; $24.92 | &nbsp;&nbsp; $22.56 | &nbsp;&nbsp; $20.55 | &nbsp;&nbsp; $20.80 | &nbsp;&nbsp; $24.83 |
| Total return (%) (r)(s)(t)(x) | 9.39<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.13 | &nbsp;&nbsp;&nbsp;&nbsp;13.30 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp; (14.75)<br>| &nbsp;&nbsp;&nbsp;&nbsp;36.57 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.11<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 |
| Expenses after expense reductions (h) | 1.10<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 |
| Net investment income (loss) (l) | (1.09)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;&nbsp;1.16 | &nbsp;&nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp; (0.28)<br>|
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 |
| Net assets at end of period (000 omitted) | $210409 | &nbsp;&nbsp; $219017 | &nbsp;&nbsp; $263351 | &nbsp;&nbsp; $304133 | &nbsp;&nbsp; $379572 | &nbsp;&nbsp; $489683 |

---

**See Notes to Financial Statements**

------

MFS International Diversification Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class I**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $26.05 | &nbsp;&nbsp; $23.59 | &nbsp;&nbsp; $21.46 | &nbsp;&nbsp; $21.63 | &nbsp;&nbsp; $25.81 | &nbsp;&nbsp; $19.01 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.01)<br>| &nbsp;&nbsp; $0.53 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.26 | &nbsp;&nbsp; $0.47 | &nbsp;&nbsp; $0.16 |
| Net realized and unrealized gain (loss) | 2.60 | &nbsp;&nbsp;&nbsp;&nbsp;2.73 | &nbsp;&nbsp;&nbsp;&nbsp;2.56 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp; (3.97)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.03 |
| Total from investment operations | $2.59 | &nbsp;&nbsp; $3.26 | &nbsp;&nbsp; $3.05 | &nbsp;&nbsp; $0.36 | &nbsp;&nbsp; $(3.50)<br>| &nbsp;&nbsp; $7.19 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.58)<br>| &nbsp;&nbsp; $(0.57)<br>| &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(0.16)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.23)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.80)<br>| &nbsp;&nbsp; $(0.92)<br>| &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(0.68)<br>| &nbsp;&nbsp; $(0.39)<br>|
| Net asset value, end of period (x) | $28.64 | &nbsp;&nbsp; $26.05 | &nbsp;&nbsp; $23.59 | &nbsp;&nbsp; $21.46 | &nbsp;&nbsp; $21.63 | &nbsp;&nbsp; $25.81 |
| Total return (%) (r)(s)(t)(x) | 9.94<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.27 | &nbsp;&nbsp;&nbsp;&nbsp;14.48 | &nbsp;&nbsp;&nbsp;&nbsp;1.85 | &nbsp;&nbsp; (13.93)<br>| &nbsp;&nbsp;&nbsp;&nbsp;38.00 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.11<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 |
| Expenses after expense reductions (h) | 0.10<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 |
| Net investment income (loss) (l) | (0.09)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.18 | &nbsp;&nbsp;&nbsp;&nbsp;2.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 |
| Net assets at end of period (000 omitted) | $16630867 | &nbsp;&nbsp; $15579691 | &nbsp;&nbsp; $14892220 | &nbsp;&nbsp; $14757462 | &nbsp;&nbsp; $15504823 | &nbsp;&nbsp; $17850569 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R1**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $24.40 | &nbsp;&nbsp; $22.12 | &nbsp;&nbsp; $20.20 | &nbsp;&nbsp; $20.45 | &nbsp;&nbsp; $24.40 | &nbsp;&nbsp; $18.04 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.14)<br>| &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.25 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.20 | &nbsp;&nbsp; $(0.07)<br>|
| Net realized and unrealized gain (loss) | 2.43 | &nbsp;&nbsp;&nbsp;&nbsp;2.56 | &nbsp;&nbsp;&nbsp;&nbsp;2.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp; (3.75)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.66 |
| Total from investment operations | $2.29 | &nbsp;&nbsp; $2.84 | &nbsp;&nbsp; $2.64 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $(3.55)<br>| &nbsp;&nbsp; $6.59 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.37)<br>| $— | &nbsp;&nbsp; $(0.19)<br>| $— |
| From net realized gain |  | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.23)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.72)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.23)<br>|
| Net asset value, end of period (x) | $26.69 | &nbsp;&nbsp; $24.40 | &nbsp;&nbsp; $22.12 | &nbsp;&nbsp; $20.20 | &nbsp;&nbsp; $20.45 | &nbsp;&nbsp; $24.40 |
| Total return (%) (r)(s)(t)(x) | 9.39<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.19 | &nbsp;&nbsp;&nbsp;&nbsp;13.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp; (14.78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;36.61 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.11<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 |
| Expenses after expense reductions (h) | 1.10<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 |
| Net investment income (loss) (l) | (1.09)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.21 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp; (0.31)<br>|
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 |
| Net assets at end of period (000 omitted) | $6428 | &nbsp;&nbsp; $7280 | &nbsp;&nbsp; $7571 | &nbsp;&nbsp; $7177 | &nbsp;&nbsp; $7056 | &nbsp;&nbsp; $10359 |

---

**See Notes to Financial Statements**

------

MFS International Diversification Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R2**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $25.22 | &nbsp;&nbsp; $22.85 | &nbsp;&nbsp; $20.81 | &nbsp;&nbsp; $20.98 | &nbsp;&nbsp; $25.05 | &nbsp;&nbsp; $18.49 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.08)<br>| &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.35 | &nbsp;&nbsp; $0.16 | &nbsp;&nbsp; $0.34 | &nbsp;&nbsp; $0.06 |
| Net realized and unrealized gain (loss) | 2.52 | &nbsp;&nbsp;&nbsp;&nbsp;2.62 | &nbsp;&nbsp;&nbsp;&nbsp;2.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp; (3.85)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.80 |
| Total from investment operations | $2.44 | &nbsp;&nbsp; $3.04 | &nbsp;&nbsp; $2.84 | &nbsp;&nbsp; $0.26 | &nbsp;&nbsp; $(3.51)<br>| &nbsp;&nbsp; $6.86 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.03)<br>| &nbsp;&nbsp; $(0.35)<br>| &nbsp;&nbsp; $(0.07)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.23)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.67)<br>| &nbsp;&nbsp; $(0.80)<br>| &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.30)<br>|
| Net asset value, end of period (x) | $27.66 | &nbsp;&nbsp; $25.22 | &nbsp;&nbsp; $22.85 | &nbsp;&nbsp; $20.81 | &nbsp;&nbsp; $20.98 | &nbsp;&nbsp; $25.05 |
| Total return (%) (r)(s)(t)(x) | 9.67<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.72 | &nbsp;&nbsp;&nbsp;&nbsp;13.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.36 | &nbsp;&nbsp; (14.34)<br>| &nbsp;&nbsp;&nbsp;&nbsp;37.21 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.61<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 |
| Expenses after expense reductions (h) | 0.60<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 |
| Net investment income (loss) (l) | (0.59)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.80 | &nbsp;&nbsp;&nbsp;&nbsp;1.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.80 | &nbsp;&nbsp;&nbsp;&nbsp;1.43 | &nbsp;&nbsp;&nbsp;&nbsp;0.26 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 |
| Net assets at end of period (000 omitted) | $49181 | &nbsp;&nbsp; $49080 | &nbsp;&nbsp; $54122 | &nbsp;&nbsp; $61253 | &nbsp;&nbsp; $65430 | &nbsp;&nbsp; $74611 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R3**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $25.46 | &nbsp;&nbsp; $23.07 | &nbsp;&nbsp; $21.01 | &nbsp;&nbsp; $21.19 | &nbsp;&nbsp; $25.30 | &nbsp;&nbsp; $18.66 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.05)<br>| &nbsp;&nbsp; $0.46 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.40 | &nbsp;&nbsp; $0.11 |
| Net realized and unrealized gain (loss) | 2.54 | &nbsp;&nbsp;&nbsp;&nbsp;2.67 | &nbsp;&nbsp;&nbsp;&nbsp;2.51 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp; (3.89)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.88 |
| Total from investment operations | $2.49 | &nbsp;&nbsp; $3.13 | &nbsp;&nbsp; $2.93 | &nbsp;&nbsp; $0.31 | &nbsp;&nbsp; $(3.49)<br>| &nbsp;&nbsp; $6.99 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(0.12)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.23)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.74)<br>| &nbsp;&nbsp; $(0.87)<br>| &nbsp;&nbsp; $(0.49)<br>| &nbsp;&nbsp; $(0.62)<br>| &nbsp;&nbsp; $(0.35)<br>|
| Net asset value, end of period (x) | $27.95 | &nbsp;&nbsp; $25.46 | &nbsp;&nbsp; $23.07 | &nbsp;&nbsp; $21.01 | &nbsp;&nbsp; $21.19 | &nbsp;&nbsp; $25.30 |
| Total return (%) (r)(s)(t)(x) | 9.78<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.00 | &nbsp;&nbsp;&nbsp;&nbsp;14.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp; (14.14)<br>| &nbsp;&nbsp;&nbsp;&nbsp;37.61 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.36<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 |
| Expenses after expense reductions (h) | 0.35<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 |
| Net investment income (loss) (l) | (0.34)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;1.93 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 |
| Net assets at end of period (000 omitted) | $1478530 | &nbsp;&nbsp; $1444247 | &nbsp;&nbsp; $1353877 | &nbsp;&nbsp; $1216239 | &nbsp;&nbsp; $1178451 | &nbsp;&nbsp; $1318182 |

---

**See Notes to Financial Statements**

------

MFS International Diversification Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R4**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $25.95 | &nbsp;&nbsp; $23.50 | &nbsp;&nbsp; $21.39 | &nbsp;&nbsp; $21.56 | &nbsp;&nbsp; $25.72 | &nbsp;&nbsp; $18.95 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.01)<br>| &nbsp;&nbsp; $0.51 | &nbsp;&nbsp; $0.48 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.47 | &nbsp;&nbsp; $0.18 |
| Net realized and unrealized gain (loss) | 2.59 | &nbsp;&nbsp;&nbsp;&nbsp;2.73 | &nbsp;&nbsp;&nbsp;&nbsp;2.55 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp; (3.95)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.99 |
| Total from investment operations | $2.58 | &nbsp;&nbsp; $3.24 | &nbsp;&nbsp; $3.03 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $(3.48)<br>| &nbsp;&nbsp; $7.17 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.57)<br>| &nbsp;&nbsp; $(0.57)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(0.17)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.23)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.79)<br>| &nbsp;&nbsp; $(0.92)<br>| &nbsp;&nbsp; $(0.54)<br>| &nbsp;&nbsp; $(0.68)<br>| &nbsp;&nbsp; $(0.40)<br>|
| Net asset value, end of period (x) | $28.53 | &nbsp;&nbsp; $25.95 | &nbsp;&nbsp; $23.50 | &nbsp;&nbsp; $21.39 | &nbsp;&nbsp; $21.56 | &nbsp;&nbsp; $25.72 |
| Total return (%) (r)(s)(t)(x) | 9.94<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.27 | &nbsp;&nbsp;&nbsp;&nbsp;14.43 | &nbsp;&nbsp;&nbsp;&nbsp;1.86 | &nbsp;&nbsp; (13.91)<br>| &nbsp;&nbsp;&nbsp;&nbsp;37.96 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.11<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 |
| Expenses after expense reductions (h) | 0.10<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 |
| Net investment income (loss) (l) | (0.09)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.13 | &nbsp;&nbsp;&nbsp;&nbsp;2.15 | &nbsp;&nbsp;&nbsp;&nbsp;1.33 | &nbsp;&nbsp;&nbsp;&nbsp;1.91 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 |
| Net assets at end of period (000 omitted) | $842691 | &nbsp;&nbsp; $843057 | &nbsp;&nbsp; $1055356 | &nbsp;&nbsp; $987868 | &nbsp;&nbsp; $1017358 | &nbsp;&nbsp; $1277938 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R6**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $26.07 | &nbsp;&nbsp; $23.61 | &nbsp;&nbsp; $21.48 | &nbsp;&nbsp; $21.66 | &nbsp;&nbsp; $25.84 | &nbsp;&nbsp; $19.03 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.00<br> (w)<br>| &nbsp;&nbsp; $0.56 | &nbsp;&nbsp; $0.51 | &nbsp;&nbsp; $0.29 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.19 |
| Net realized and unrealized gain (loss) | 2.61 | &nbsp;&nbsp;&nbsp;&nbsp;2.72 | &nbsp;&nbsp;&nbsp;&nbsp;2.57 | &nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp; (3.97)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.03 |
| Total from investment operations | $2.61 | &nbsp;&nbsp; $3.28 | &nbsp;&nbsp; $3.08 | &nbsp;&nbsp; $0.38 | &nbsp;&nbsp; $(3.48)<br>| &nbsp;&nbsp; $7.22 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.60)<br>| &nbsp;&nbsp; $(0.60)<br>| &nbsp;&nbsp; $(0.16)<br>| &nbsp;&nbsp; $(0.49)<br>| &nbsp;&nbsp; $(0.18)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.23)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.82)<br>| &nbsp;&nbsp; $(0.95)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.70)<br>| &nbsp;&nbsp; $(0.41)<br>|
| Net asset value, end of period (x) | $28.68 | &nbsp;&nbsp; $26.07 | &nbsp;&nbsp; $23.61 | &nbsp;&nbsp; $21.48 | &nbsp;&nbsp; $21.66 | &nbsp;&nbsp; $25.84 |
| Total return (%) (r)(s)(t)(x) | 10.01<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.38 | &nbsp;&nbsp;&nbsp;&nbsp;14.58 | &nbsp;&nbsp;&nbsp;&nbsp;1.92 | &nbsp;&nbsp; (13.84)<br>| &nbsp;&nbsp;&nbsp;&nbsp;38.12 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 0.01<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 |
| Expenses after expense reductions (h) | 0.00<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.00 |
| Net investment income (loss) (l) | 0.01<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.29 | &nbsp;&nbsp;&nbsp;&nbsp;2.29 | &nbsp;&nbsp;&nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;&nbsp;2.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 |
| Portfolio turnover rate | 1<br> (n)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 9 |
| Net assets at end of period (000 omitted) | $20634613 | &nbsp;&nbsp; $19472950 | &nbsp;&nbsp; $17302488 | &nbsp;&nbsp; $14522293 | &nbsp;&nbsp; $12792920 | &nbsp;&nbsp; $13046306 |

---

**See Notes to Financial Statements**

------

MFS International Diversification Fund

*Financial Highlights - continued*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(h) In addition to the fees and expenses which the fund bears directly, the fund indirectly
 bears a pro rata share of the fees and expenses of the underlying affiliated funds in which the fund invests. Accordingly, the expense ratio for the
 fund reflects only those fees and expenses borne directly by the fund. Because the underlying affiliated funds have varied expense and fee levels and the
 fund may own different proportions of the underlying affiliated funds at different times, the amount of fees and expenses incurred indirectly by the
 fund will vary.

&nbsp;&nbsp;&nbsp;&nbsp;(l) Recognition of net investment income by the fund may be affected by the timing of
 the declaration of dividends by the underlying affiliated funds in which the fund invests and for interim net investment income ratios, the actual annual
 net investment income ratio may differ. The ratios and per share amounts do not include net investment income of the underlying affiliated funds in
 which the fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(w) Per share amount was less than $0.01.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

MFS International Diversification Fund

**Notes to Financial Statements (unaudited)**

**(1) Business and Organization**

MFS International Diversification Fund (the fund) is a diversified series of MFS Series Trust X (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(2) Significant Accounting Policies**

**General** — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of the fund's Statement of Assets and Liabilities through the date that the financial statements were issued.

The fund is a "fund of funds", which invests the majority of its assets in other MFS mutual funds (underlying funds), which may have different fiscal year ends than the fund. The underlying funds, in turn, may engage in a number of investment techniques and practices, which involve certain risks. Certain underlying funds can invest in foreign securities, including securities of emerging market issuers. Investments in foreign securities are vulnerable to the effects of changes in the relative values of the local currency and the U.S. dollar and to the effects of changes in each country's market, economic, industrial, political, regulatory, geopolitical, environmental, public health, and other conditions. Investments tied economically to emerging markets, especially frontier markets, can involve additional and greater risks than the risks associated with investments in developed markets. Emerging markets can have less developed markets, greater custody and operational risk, less developed legal, regulatory, and accounting systems, greater government involvement in the economy, greater risk of new or inconsistent government treatment of or restrictions on issuers and instruments, and greater political, social, geopolitical, and economic instability than developed markets.

The accounting policies of the underlying funds in which the fund invests are outlined in the underlying funds' financial statements, which are available without charge by calling 1-800-225-2606, at mfs.com and on the Securities and Exchange Commission (SEC) web site at http://www.sec.gov. The underlying funds' financial statements are not covered by this report.

The investment objective of each of the international stock funds held by the fund at November 30, 2025 was to seek capital appreciation.

**Operating Segments** — An operating segment is defined in FASB Accounting Standards Codification Topic 280-Segment Reporting as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the entity's chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available. The fund represents a single operating segment and the Chairman's Committee of the fund's adviser acts as the segment's CODM. The fund's total returns, expense ratios, and changes in net assets which are used by the CODM to assess segment performance and to make resource allocation decisions to the segment are consistent with that presented within the fund's financial statements.

**Investment Valuations** — Open-end investment companies (underlying funds) are generally valued at their net asset value per share. The investments of underlying funds managed by the adviser are valued as described below. For purposes of this policy disclosure, "fund" also refers to the underlying funds in which the fund-of-funds invests.

Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, equity securities, including restricted equity securities and equity securities sold short, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Equity securities sold short, for which there were no sales reported that day, are generally valued at the last quoted daily ask quotation on their primary market or

------

MFS International Diversification Fund

*Notes to Financial Statements (unaudited) - continued* 

exchange as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Exchange-traded options are generally valued at the last sale or official closing price on their primary exchange as provided by a third-party pricing service. Exchange-traded options for which there were no sales reported that day are generally valued at the last daily bid quotation on their primary exchange as provided by a third-party pricing service. For put options, the position may be valued at the last daily ask quotation if there are no trades reported during the day. Options not traded on an exchange are generally valued at a broker/dealer bid quotation. Foreign currency options are generally valued at valuations provided by a third-party pricing service. Futures contracts are generally valued at last posted settlement price on their primary exchange as provided by a third-party pricing service. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation on their primary exchange as provided by a third-party pricing service. Forward foreign currency exchange contracts are generally valued at the mean of bid and asked prices for the time period interpolated from rates provided by a third-party pricing service for proximate time periods. Swap agreements are generally valued using valuations provided by a third-party pricing service, which for cleared swaps includes an evaluation of any trading activity at the clearinghouses. Open-end investment companies are generally valued at net asset value per share. Funds traded on a recognized securities exchange (such as Exchange Traded Funds or Closed End Funds) are generally valued at the official closing price on their primary market or exchange as provided by a third-party pricing service. If no sales are reported that day for these funds, generally they will be valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Funds traded on a recognized securities exchange (such as Exchange Traded Funds or Closed End Funds) are generally valued at the official closing price on their primary market or exchange as provided by a third-party pricing service. If no sales are reported that day for these funds, generally they will be valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. Pricing services generally value debt instruments assuming orderly transactions of institutional round lot sizes, but a fund may hold or transact in such securities in smaller, odd lot sizes. In instances where a fund holds an odd lot size position in a debt instrument, such position will typically be valued using the pricing agent's institutional round lot price for the debt instrument. Odd lots may trade at lower prices than institutional round lots, and the fund may receive different prices when it sells odd lot positions than it would receive for sales of institutional round lot positions. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of November 30, 2025 in valuing the fund's assets and liabilities:

------

MFS International Diversification Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Investment Companies | $18557739449 | $25230497377 | $— | $43788236826 |

---

For further information regarding security characteristics, see the Portfolio of Investments. Please refer to the underlying funds' financial statements for further information regarding the levels used in valuing the underlying funds' assets and liabilities.

**Derivatives** — The fund does not invest in derivatives directly. The fund does invest in underlying funds that may use derivatives primarily to increase or decrease exposure to a particular market or segment of the market, or security, to increase or decrease interest rate or currency exposure, or as alternatives to direct investments. Derivatives are used for hedging or non-hedging purposes. While hedging can reduce or eliminate losses, it can also reduce or eliminate gains. When the underlying funds use derivatives as an investment to increase market exposure, or for hedging purposes, gains and losses from derivative instruments may be substantially greater than the derivative's original cost.

**Indemnifications** — Under the fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into agreements with service providers that may contain indemnification clauses. The fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against the fund that have not yet occurred.

**Investment Transactions and Income** — Interest income is recorded on the accrual basis. All premium and discount is amortized or accreted for financial statement purposes in accordance with U.S. generally accepted accounting principles. Distributions of income and capital gains from the underlying funds are recorded on the ex-dividend date. Recognition of net investment income and realized gain from affiliated issuers by the fund is affected by the timing of the declaration of distributions by the underlying funds in which the fund invests.

The fund and/or the underlying funds may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statement of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statement of Operations.

Investment transactions are recorded on the trade date. In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis.

**Tax Matters and Distributions** — The fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. The fund's federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for generally a three year period. Management has analyzed the fund's tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability.

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.

Book/tax differences primarily relate to wash sale loss deferrals and treating a portion of the proceeds from redemptions as a distribution for tax purposes.

The tax character of distributions declared to shareholders for the last fiscal year is as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**5/31/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $917741360 |
| Long-term capital gains | &nbsp;&nbsp; 344042380 |
| Total distributions | &nbsp;&nbsp; $1261783740 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

------

MFS International Diversification Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | |
|:---|:---|
| **As of 11/30/25** |  |
| Cost of investments | &nbsp;&nbsp; $31157218454 |
| Gross appreciation | &nbsp;&nbsp; 13362652947 |
| Gross depreciation | &nbsp;&nbsp; (731634575)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $12631018372 |
| **As of 5/31/25** |  |
| Undistributed ordinary income | &nbsp;&nbsp; 52879350 |
| Undistributed long-term capital gain | &nbsp;&nbsp; 960251527 |
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; 8867188964 |

---

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

**Multiple Classes of Shares of Beneficial Interest** — The fund offers multiple classes of shares, which differ in their respective distribution and service fees. The fund's income, realized and unrealized gain (loss), and common expenses are allocated to shareholders based on the daily net assets of each class. Dividends are declared separately for each class. Differences in per share dividend rates are generally due to differences in separate class expenses. Class B and Class C shares will convert to Class A shares approximately eight years after purchase. The fund's distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months** <br>**ended** <br>**11/30/25**<br>| **Year** <br>**ended** <br>**5/31/25**<br>|
| Class A | $— | &nbsp;&nbsp; $109812620 |
| Class B |  | &nbsp;&nbsp; 106985 |
| Class C |  | &nbsp;&nbsp; 5218931 |
| Class I |  | &nbsp;&nbsp; 474972985 |
| Class R1 |  | &nbsp;&nbsp; 180384 |
| Class R2 |  | &nbsp;&nbsp; 1483540 |
| Class R3 |  | &nbsp;&nbsp; 41677152 |
| Class R4 |  | &nbsp;&nbsp; 26960938 |
| Class R6 |  | &nbsp;&nbsp; 601370205 |
| Total | $— | &nbsp;&nbsp; $1261783740 |

---

**(3) Transactions with Affiliates**

**Investment Adviser** — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. MFS receives no compensation under this agreement; however MFS receives management fees from the underlying MFS funds.

The investment adviser has agreed in writing to pay a portion of the fund's operating expenses, excluding distribution and service fees, interest, taxes, extraordinary expenses, brokerage and transaction costs, and investment-related expenses including fees and expenses associated with investments in investment companies and other similar investment vehicles ("Other Expenses"), such that "Other Expenses" do not exceed 0.10% annually of average daily net assets for Class A, Class B, Class C, Class I, Class R1, Class R2, Class R3, and Class R4 shares and 0.00% annually of average daily net assets for Class R6 shares. This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this reduction amounted to $2,239,383, which is included in the reduction of total expenses in the Statement of Operations.

In addition to the fees and expenses which the fund bears directly, the fund indirectly bears a pro rata share of the fees and expenses of the underlying funds in which the fund invests. Accordingly, the expense ratio for the fund reflects only those fees and expenses borne directly by the fund.

**Distributor** — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received $139,283 for the six months ended November 30, 2025, as its portion of the initial sales charge on sales of Class A shares of the fund.

The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.

------

MFS International Diversification Fund

*Notes to Financial Statements (unaudited) - continued* 

The fund's distribution plan provides that the fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries. The distribution and service fees are computed daily and paid monthly.

**Distribution Plan Fee Table:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| Class A |  | 0.25% | 0.25% | 0.25% | $4876259 |
| Class B | 0.75% | 0.25% | 1.00% | 1.00% | 16876 |
| Class C | 0.75% | 0.25% | 1.00% | 1.00% | 1087277 |
| Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 36215 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 127084 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 1866634 |
| Total Distribution and Service Fees  |  |  |  |  | $8010345 |

---

(d) In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each

class's average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting

period. Any rate changes, if applicable, are detailed below.

(e) The annual effective rates represent actual fees incurred under the distribution plan for the six months ended November 30, 2025 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended November 30, 2025, this rebate amounted to $195, $57, and $470 for Class A, Class C, and Class R2 shares, respectively, and is included in the reduction of total expenses in the Statement of Operations.

Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class B shares are subject to a CDSC in the event of a shareholder redemption within six years of purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD and during the six months ended November 30, 2025, were as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| Class A | $13275 |
| Class B |  |
| Class C | 3243 |

---

**Shareholder Servicing Agent** — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from the fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of the fund as determined periodically under the supervision of the fund's Board of Trustees. For the six months ended November 30, 2025, the fee was $379,299, which equated to 0.0017% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the six months ended November 30, 2025, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $11,494,222.

**Administrator** — MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to the fund. Under an administrative services agreement, the fund reimburses MFS the costs incurred to provide these services. The fund pays an annual fixed amount of $17,500. The administrative services fee is computed daily and paid monthly. The administrative services fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.00004% of the fund's average daily net assets.

**Trustees' and Officers' Compensation** — The fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. Independent Trustees' compensation is accrued daily and paid subsequent to each Trustee Board meeting. The fund does not pay compensation directly to Trustees or officers of the fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to the fund. Certain officers and Trustees of the fund are officers or directors of MFS, MFD, and MFSC.

**Other** — The fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.

------

MFS International Diversification Fund

*Notes to Financial Statements (unaudited) - continued* 

MFS purchased or redeemed fund shares on the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| 8/19/2024 | Redemption | Class A | 3 | $67 |
| 8/19/2024 | Redemption | Class C | 3 | 61 |
| 8/19/2024 | Redemption | Class I | 3 | 74 |
| 8/19/2024 | Redemption | Class R1 | 3 | 67 |
| 8/19/2024 | Redemption | Class R2 | 3 | 73 |
| 8/19/2024 | Redemption | Class R3 | 3 | 77 |
| 8/19/2024 | Redemption | Class R4 | 3 | 76 |

---

**(4) Portfolio Securities**

For the six months ended November 30, 2025, purchases and sales of shares of underlying funds, excluding the MFS Institutional Money Market Portfolio, aggregated $470,636,077 and $2,174,220,366, respectively.

**(5) Shares of Beneficial Interest** 

The fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** <br>**11/30/25** | **Six months ended** <br>**11/30/25** | **Year ended** <br>**5/31/25** | **Year ended** <br>**5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 6147774 | &nbsp;&nbsp; $166771974 | &nbsp;&nbsp; 15743869 | &nbsp;&nbsp; $375966720 |
| Class B |  |  | &nbsp;&nbsp; 818 | &nbsp;&nbsp; 20098 |
| Class C | 398659 | &nbsp;&nbsp; 10491156 | &nbsp;&nbsp; 609712 | &nbsp;&nbsp; 14199984 |
| Class I | 48320288 | &nbsp;&nbsp; 1328155656 | &nbsp;&nbsp; 105607072 | &nbsp;&nbsp; 2547565489 |
| Class R1 | 13879 | &nbsp;&nbsp; 356637 | &nbsp;&nbsp; 45323 | &nbsp;&nbsp; 1022131 |
| Class R2 | 148402 | &nbsp;&nbsp; 3939649 | &nbsp;&nbsp; 297289 | &nbsp;&nbsp; 6935065 |
| Class R3 | 4438575 | &nbsp;&nbsp; 118473875 | &nbsp;&nbsp; 11819291 | &nbsp;&nbsp; 279333301 |
| Class R4 | 2266467 | &nbsp;&nbsp; 62395999 | &nbsp;&nbsp; 5189809 | &nbsp;&nbsp; 124807679 |
| Class R6 | 73884850 | &nbsp;&nbsp; 2019746276 | &nbsp;&nbsp; 148958942 | &nbsp;&nbsp; 3600648579 |
|  | 135618894 | &nbsp;&nbsp; $3710331222 | &nbsp;&nbsp; 288272125 | &nbsp;&nbsp; $6950499046 |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A |  | $— | &nbsp;&nbsp; 4344020 | &nbsp;&nbsp; $98609250 |
| Class B |  |  | &nbsp;&nbsp; 4751 | &nbsp;&nbsp; 106985 |
| Class C |  |  | &nbsp;&nbsp; 220011 | &nbsp;&nbsp; 4855652 |
| Class I |  |  | &nbsp;&nbsp; 18024801 | &nbsp;&nbsp; 414209917 |
| Class R1 |  |  | &nbsp;&nbsp; 8347 | &nbsp;&nbsp; 180384 |
| Class R2 |  |  | &nbsp;&nbsp; 66018 | &nbsp;&nbsp; 1471533 |
| Class R3 |  |  | &nbsp;&nbsp; 1853966 | &nbsp;&nbsp; 41677152 |
| Class R4 |  |  | &nbsp;&nbsp; 1144160 | &nbsp;&nbsp; 26189823 |
| Class R6 |  |  | &nbsp;&nbsp; 25372992 | &nbsp;&nbsp; 583325086 |
|  |  | $— | &nbsp;&nbsp; 51039066 | &nbsp;&nbsp; $1170625782 |

---

------

MFS International Diversification Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **11/30/25** | **Six months ended**<br> **11/30/25** | **Year ended**<br> **5/31/25** | **Year ended**<br> **5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares reacquired |  |  |  |  |
| Class A | (13539135)<br>| &nbsp;&nbsp; $(366916732)<br>| &nbsp;&nbsp; (31370765)<br>| &nbsp;&nbsp; $(747800770)<br>|
| Class B | (54084)<br>| &nbsp;&nbsp; (1444123)<br>| &nbsp;&nbsp; (136682)<br>| &nbsp;&nbsp; (3244038)<br>|
| Class C | (1468587)<br>| &nbsp;&nbsp; (38567283)<br>| &nbsp;&nbsp; (3717085)<br>| &nbsp;&nbsp; (86067420)<br>|
| Class I | (65670223)<br>| &nbsp;&nbsp; (1814483102)<br>| &nbsp;&nbsp; (156992654)<br>| &nbsp;&nbsp; (3790019174)<br>|
| Class R1 | (71419)<br>| &nbsp;&nbsp; (1869558)<br>| &nbsp;&nbsp; (97482)<br>| &nbsp;&nbsp; (2167102)<br>|
| Class R2 | (316232)<br>| &nbsp;&nbsp; (8553555)<br>| &nbsp;&nbsp; (785996)<br>| &nbsp;&nbsp; (18054717)<br>|
| Class R3 | (8275021)<br>| &nbsp;&nbsp; (223429105)<br>| &nbsp;&nbsp; (15639282)<br>| &nbsp;&nbsp; (369018074)<br>|
| Class R4 | (5215147)<br>| &nbsp;&nbsp; (142689382)<br>| &nbsp;&nbsp; (18764353)<br>| &nbsp;&nbsp; (448435663)<br>|
| Class R6 | (101213740)<br>| &nbsp;&nbsp; (2796824759)<br>| &nbsp;&nbsp; (160418411)<br>| &nbsp;&nbsp; (3889452202)<br>|
|  | (195823588)<br>| &nbsp;&nbsp; $(5394777599)<br>| &nbsp;&nbsp; (387922710)<br>| &nbsp;&nbsp; $(9354259160)<br>|
| Net change |  |  |  |  |
| Class A | (7391361)<br>| &nbsp;&nbsp; $(200144758)<br>| &nbsp;&nbsp; (11282876)<br>| &nbsp;&nbsp; $(273224800)<br>|
| Class B | (54084)<br>| &nbsp;&nbsp; (1444123)<br>| &nbsp;&nbsp; (131113)<br>| &nbsp;&nbsp; (3116955)<br>|
| Class C | (1069928)<br>| &nbsp;&nbsp; (28076127)<br>| &nbsp;&nbsp; (2887362)<br>| &nbsp;&nbsp; (67011784)<br>|
| Class I | (17349935)<br>| &nbsp;&nbsp; (486327446)<br>| &nbsp;&nbsp; (33360781)<br>| &nbsp;&nbsp; (828243768)<br>|
| Class R1 | (57540)<br>| &nbsp;&nbsp; (1512921)<br>| &nbsp;&nbsp; (43812)<br>| &nbsp;&nbsp; (964587)<br>|
| Class R2 | (167830)<br>| &nbsp;&nbsp; (4613906)<br>| &nbsp;&nbsp; (422689)<br>| &nbsp;&nbsp; (9648119)<br>|
| Class R3 | (3836446)<br>| &nbsp;&nbsp; (104955230)<br>| &nbsp;&nbsp; (1966025)<br>| &nbsp;&nbsp; (48007621)<br>|
| Class R4 | (2948680)<br>| &nbsp;&nbsp; (80293383)<br>| &nbsp;&nbsp; (12430384)<br>| &nbsp;&nbsp; (297438161)<br>|
| Class R6 | (27328890)<br>| &nbsp;&nbsp; (777078483)<br>| &nbsp;&nbsp; 13913523 | &nbsp;&nbsp; 294521463 |
|  | (60204694)<br>| &nbsp;&nbsp; $(1684446377)<br>| &nbsp;&nbsp; (48611519)<br>| &nbsp;&nbsp; $(1233134332)<br>|

---

Effective June 1, 2019, purchases of the fund's Class B shares were closed to new and existing investors subject to certain exceptions. Effective September 29, 2023, purchases of the fund's Class R1 and Class R2 shares were closed to new eligible investors.

**(6) Line of Credit**

The fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by the fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate) plus 0.10%, 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 12, 2026 unless extended or renewed. In addition, the fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the six months ended November 30, 2025, the fund's commitment fee and interest expense were $96,746 and $51,929, respectively, and are included in "Miscellaneous" expense in the Statement of Operations.

**(7) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the six months ended November 30, 2025:

------

MFS International Diversification Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Beginning** <br>**Value**<br>| **Purchases** | &nbsp;&nbsp; **Sales** <br>**Proceeds**<br>| &nbsp;&nbsp; **Realized** <br>**Gain** <br>**(Loss)**<br>| &nbsp;&nbsp; **Change in** <br>**Unrealized** <br>**Appreciation** <br> **or** <br>**Depreciation**<br>| &nbsp;&nbsp; **Ending** <br>**Value**<br>|
| MFS Emerging Markets Equity Fund | &nbsp;&nbsp; $7062903163 | &nbsp;&nbsp; $176905591 | &nbsp;&nbsp; $1056542931 | &nbsp;&nbsp; $168841249 | &nbsp;&nbsp; $1184144208 | &nbsp;&nbsp; $7536251280 |
| MFS Institutional Money Market <br> Portfolio<br>| &nbsp;&nbsp; 79993091 | &nbsp;&nbsp; 615067121 | &nbsp;&nbsp; 610593981 | &nbsp;&nbsp; 8229 | &nbsp;&nbsp; 5625 | &nbsp;&nbsp; 84480085 |
| MFS International Growth Fund | &nbsp;&nbsp; 6168092930 | &nbsp;&nbsp; 103382116 | &nbsp;&nbsp; 194665604 | &nbsp;&nbsp; 18471430 | &nbsp;&nbsp; 408480077 | &nbsp;&nbsp; 6503760949 |
| MFS International Intrinsic Value Fund | &nbsp;&nbsp; 6223858079 | &nbsp;&nbsp; 16481438 | &nbsp;&nbsp; 327675459 | &nbsp;&nbsp; 14651370 | &nbsp;&nbsp; 723498468 | &nbsp;&nbsp; 6650813896 |
| MFS International Large Cap Value <br> Fund<br>| &nbsp;&nbsp; 6269770102 | &nbsp;&nbsp; 3280250 | &nbsp;&nbsp; 413422816 | &nbsp;&nbsp; 135903524 | &nbsp;&nbsp; 633787619 | &nbsp;&nbsp; 6629318679 |
| MFS International New Discovery <br> Fund<br>| &nbsp;&nbsp; 4140034115 | &nbsp;&nbsp; 46619614 | &nbsp;&nbsp; 54316273 | &nbsp;&nbsp; (5466640)<br>| &nbsp;&nbsp; 180818589 | &nbsp;&nbsp; 4307689405 |
| MFS Research International Fund | &nbsp;&nbsp; 11442070687 | &nbsp;&nbsp; 123967065 | &nbsp;&nbsp; 127597281 | &nbsp;&nbsp; 4387239 | &nbsp;&nbsp; 633094822 | &nbsp;&nbsp; 12075922532 |
|  | &nbsp;&nbsp; $41386722167 | &nbsp;&nbsp; $1085703195 | &nbsp;&nbsp; $2784814345 | &nbsp;&nbsp; $336796401 | &nbsp;&nbsp; $3763829408 | &nbsp;&nbsp; $43788236826 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| MFS Emerging Markets Equity Fund | $— | $— |
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; 1649923 |  |
| MFS International Growth Fund |  |  |
| MFS International Intrinsic Value Fund |  |  |
| MFS International Large Cap Value Fund |  |  |
| MFS International New Discovery Fund |  |  |
| MFS Research International Fund |  |  |
|  | &nbsp;&nbsp; $1649923 | $— |

---

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS International Diversification Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS International Diversification Fund.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

This information is disclosed as part of the financial statements included in Item 7 above for MFS International Diversification Fund. See the Statement of Operations and Note 3 within the Notes to Financial Statements for more information.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

------

MFS International Diversification Fund

**Board Review of Investment Advisory Agreement**

**MFS International Diversification Fund**

The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested ("independent") Trustees, voting separately, annually approve the continuation of the Fund's investment advisory agreement with MFS. The Trustees consider matters bearing on the Fund and its advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2025 ("contract review meetings") for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Fund and the other investment companies that the Board oversees (the "MFS Funds"). The independent Trustees were assisted in their evaluation of the Fund's investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.

In connection with their deliberations regarding the continuation of the investment advisory agreement, the Trustees, including the independent Trustees, considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The investment advisory agreement for the Fund was considered separately, although the Trustees also took into account the common interests of all MFS Funds in their review. As described below, the Trustees considered the nature, quality, and extent of the various investment advisory, administrative, and shareholder services performed by MFS under the existing investment advisory agreement and other arrangements with the Fund.

In connection with their contract review meetings, the Trustees received and relied upon materials that included, among other items: (i) information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent third party, on the investment performance of the Fund for various time periods ended December 31, 2024 and the investment performance of a group of funds with substantially similar investment classifications/objectives (the "Broadridge performance universe"), (ii) information provided by Broadridge on the Fund's fees and expenses and the fees and expenses of comparable funds identified by Broadridge as well as all other funds in the same investment classification/category (the "Broadridge expense group and universe"), (iii) information as to whether and to what extent applicable expense waivers and reimbursements are observed for the Fund, (iv) information regarding MFS' financial results and financial condition, including MFS' and certain of its affiliates' estimated profitability from services performed for the Fund and the MFS Funds as a whole, and compared to MFS' institutional business, (v) MFS' views regarding the outlook for the mutual fund industry and the strategic business plans of MFS, (vi) descriptions of various functions performed by MFS for the Funds, such as compliance monitoring and portfolio trading practices, and (vii) information regarding the overall organization of MFS, including information about MFS' senior management and other personnel providing investment advisory, administrative and other services to the Fund and the other MFS Funds. The comparative performance, fee and expense information prepared and provided by Broadridge was not independently verified and the independent Trustees did not independently verify any information provided to them by MFS.

The Trustees' conclusion as to the continuation of the investment advisory agreement was based on a comprehensive consideration of all information provided to the Trustees and not the result of any single factor. Some of the factors that figured particularly in the Trustees' deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. It is also important to recognize that the fee arrangements for the Fund and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees' conclusions may be based, in part, on their consideration of these same arrangements during the course of the year and in prior years.

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 3rd quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 2nd quintile for the one-year period and 3rd quintile for the three-year period ended December 31, 2024 relative to the Broadridge performance universe. Because of the passage of time, these performance results may differ from the performance results for more recent periods, including those shown elsewhere in this report.

In the course of their deliberations, the Trustees took into account information provided by MFS in connection with the contract review meetings, as well as during investment review meetings conducted with portfolio management personnel during the course of the year regarding the Fund's performance. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that they were satisfied with MFS' responses and efforts relating to investment performance.

------

MFS International Diversification Fund

*Board Review of Investment Advisory Agreement - continued*

The Trustees considered that MFS does not charge an advisory fee for providing investment advisory services to the Fund, but that the Fund pays its pro rata share of the advisory fees paid by the underlying funds in which it invests (the "Underlying Funds").

In assessing the reasonableness of the Fund's expenses, the Trustees considered, among other information, the total expense ratio of the Fund's Class I shares as a percentage of average daily net assets and the total expense ratios of the Broadridge expense group based on information provided by Broadridge. The Trustees considered that MFS currently observes an expense limitation for the Fund, which may not be changed without the Trustees' approval. The Trustees also considered that, according to the data provided by Broadridge (which takes into account any expense limitations that were in effect during the Fund's last fiscal year), the Fund's total expense ratio was higher than the Broadridge expense group median. Because the Fund does not pay an advisory fee, the Trustees did not consider the extent to which economies of scale would be realized due to the Fund's growth of assets, whether fee levels reflect economies of scale for shareholders, or the fees paid by similar funds to other investment advisers or by similar clients of MFS.

The Trustees also considered information prepared by MFS relating to MFS' costs and profits with respect to the Fund, the MFS Funds considered as a group, and other investment companies and accounts advised by MFS, as well as MFS' methodologies used to determine and allocate its costs to the MFS Funds, the Fund and other accounts and products for purposes of estimating profitability.

In addition, the Trustees considered MFS' resources and related efforts to continue to retain, attract and motivate capable personnel to serve the Fund. The Trustees also considered current and developing conditions in the financial services industry, including the presence of large and well-capitalized companies which are spending, and appear to be prepared to continue to spend, substantial sums to engage personnel and to provide services to competing investment companies. In this regard, the Trustees also considered the financial resources of MFS and its ultimate parent, Sun Life Financial Inc. The Trustees also considered the advantages and possible disadvantages to the Fund of having an adviser that also serves other investment companies as well as other accounts.

The Trustees also considered the nature, quality, cost, and extent of administrative, transfer agency, and distribution services provided to the Fund by MFS and its affiliates under agreements and plans other than the investment advisory agreement, including any 12b-1 fees the Fund pays to MFS Fund Distributors, Inc., an affiliate of MFS. The Trustees also considered the nature, extent and quality of certain other services MFS performs or arranges for on the Fund's or the Underlying Funds' behalf, which may include securities lending programs, directed expense payment programs, class action recovery programs, and MFS' interaction with third-party service providers, principally custodians and sub-custodians. The Trustees concluded that the various non-advisory services provided by MFS and its affiliates on behalf of the Fund were satisfactory.

The Trustees considered so-called "fall-out benefits" to MFS such as reputational value derived from serving as investment manager to the MFS Funds. The Trustees also considered that MFS discontinued its historic practice of obtaining investment research from portfolio brokerage commissions paid by certain MFS Funds effective January 2018, and directly pays or voluntarily reimburses a Fund, if applicable, for the costs of external research acquired through the use of the Fund's portfolio brokerage commissions.

Based on their evaluation of factors that they deemed to be material, including those factors described above, the Board of Trustees, including the independent Trustees, concluded that the Fund's investment advisory agreement with MFS should be continued for an additional one-year period, commencing August 1, 2025.

------

MFS Managed Wealth Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS Managed Wealth Fund

**Portfolio of Investments - 11/30/25 (unaudited)**

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – 1.8% | Bonds – 1.8% | Bonds – 1.8% |
| U.S. Treasury Obligations – 1.8% | U.S. Treasury Obligations – 1.8% | U.S. Treasury Obligations – 1.8% |
| U.S. Treasury Notes, 4.25%, 12/31/2025 (f) | $220000 | &nbsp;&nbsp; $220074 |
| U.S. Treasury Notes, 4.5%, 3/31/2026 (f) | 350000 | &nbsp;&nbsp; 350739 |
| U.S. Treasury Notes, 4.625%, 6/30/2026 (f) | 100000 | &nbsp;&nbsp; 100490 |
| **Total Bonds (Identified Cost, $672,356)** |  | &nbsp;&nbsp; **$671303** |
| Mutual Funds (h) – 98.3% | Mutual Funds (h) – 98.3% | Mutual Funds (h) – 98.3% |
| International Equity Funds – 30.1% | International Equity Funds – 30.1% | International Equity Funds – 30.1% |
| MFS International Equity Fund - Class R6 | 279915 | &nbsp;&nbsp; $11375738 |
| U.S. Equity Funds – 60.4% | U.S. Equity Funds – 60.4% | U.S. Equity Funds – 60.4% |
| MFS Growth Fund - Class R6 | 49846 | &nbsp;&nbsp; $11289223 |
| MFS Value Fund - Class R6 | 216377 | &nbsp;&nbsp; 11528544 |
|  |  | &nbsp;&nbsp; $22817767 |
| Money Market Funds – 7.8% | Money Market Funds – 7.8% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) | 2929004 | &nbsp;&nbsp; $2929590 |
| **Total Mutual Funds (Identified Cost, $20,299,894)** | **Total Mutual Funds (Identified Cost, $20,299,894)** | &nbsp;&nbsp; **$37123095** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Underlying/Expiration Date/Exercise Price (Rate)** | **Put/Call** | **Counterparty** | **Notional** <br>**Amount**<br>| &nbsp;&nbsp; **Par Amount/** <br>**Number of** <br>**Contracts**<br>|  |
| Purchased Options – 0.2% | Purchased Options – 0.2% | Purchased Options – 0.2% | Purchased Options – 0.2% | Purchased Options – 0.2% |  |
| Market Index Securities – 0.2% | Market Index Securities – 0.2% | Market Index Securities – 0.2% | Market Index Securities – 0.2% | Market Index Securities – 0.2% |  |
| S&P 500 Index – 3/20/2026 @ $5,575 | Put | Exchange Traded | &nbsp;&nbsp; $2739636 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; $13720 |
| S&P 500 Index – 6/18/2026 @ $5,400 | Put | Exchange Traded | &nbsp;&nbsp; 2739636 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 24120 |
| S&P 500 Index – 9/18/2026 @ $5,400 | Put | Exchange Traded | &nbsp;&nbsp; 3424545 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 48285 |
| **Total Purchased Options** <br>**(Premiums Paid, $169,596)** | **Total Purchased Options** <br>**(Premiums Paid, $169,596)** | **Total Purchased Options** <br>**(Premiums Paid, $169,596)** | **Total Purchased Options** <br>**(Premiums Paid, $169,596)** |  | &nbsp;&nbsp; **$86125** |
| Other Assets, Less Liabilities – (0.3)% | Other Assets, Less Liabilities – (0.3)% | Other Assets, Less Liabilities – (0.3)% | Other Assets, Less Liabilities – (0.3)% | Other Assets, Less Liabilities – (0.3)% | &nbsp;&nbsp; (120677**)**<br>|
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$37759846** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(f) All or a portion of the security has been segregated as collateral for open futures
 contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $37,123,095 and $757,428, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

MGWFS-SEM

------

MFS Managed Wealth Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivative Contracts at 11/30/25** | **Derivative Contracts at 11/30/25** | **Derivative Contracts at 11/30/25** | **Derivative Contracts at 11/30/25** | **Derivative Contracts at 11/30/25** | **Derivative Contracts at 11/30/25** | **Derivative Contracts at 11/30/25** |
| **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** |
| **Description** | &nbsp;&nbsp; **Long/** <br>**Short**<br>| **Currency** | **Contracts** | &nbsp;&nbsp; **Notional** <br>**Amount**<br>| &nbsp;&nbsp;&nbsp; **Expiration** <br>**Date**<br>| &nbsp;&nbsp; **Value/Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| ***Equity Futures*** | ***Equity Futures*** | ***Equity Futures*** | ***Equity Futures*** | ***Equity Futures*** |  |  |
| Mini MSCI EAFE Index | &nbsp;&nbsp;&nbsp; Short | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp; $4933075 | December – 2025 | &nbsp;&nbsp;&nbsp; $(77439)<br>|
| Russell 1000 Growth Index | &nbsp;&nbsp;&nbsp; Short | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp; 3123835 | December – 2025 | &nbsp;&nbsp;&nbsp; (75603)<br>|
| Russell 1000 Value Index | &nbsp;&nbsp;&nbsp; Short | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp; 5057780 | December – 2025 | &nbsp;&nbsp;&nbsp; (153129)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; $(306171)<br>|

---

At November 30, 2025, the fund had liquid securities with an aggregate value of $626,176 to cover any collateral or margin obligations for certain derivative contracts.

**See Notes to Financial Statements**

------

MFS Managed Wealth Fund

**Financial Statements** \| **Statement of Assets and Liabilities**

This statement represents your fund's balance sheet, which details the assets and liabilities comprising the total value of the fund.

---

| | |
|:---|:---|
| **At 11/30/25 (unaudited)**<br> **Assets**<br>|  |
| Investments in unaffiliated issuers, at value (identified cost, $841,952) | &nbsp;&nbsp; $757428 |
| Investments in affiliated issuers, at value (identified cost, $20,299,894) | &nbsp;&nbsp; 37123095 |
| Receivables for |  |
| Investments sold | &nbsp;&nbsp; 4456 |
| Fund shares sold | &nbsp;&nbsp; 2102 |
| Interest | &nbsp;&nbsp; 8531 |
| Receivable from investment adviser | &nbsp;&nbsp; 15215 |
| Total assets | &nbsp;&nbsp; $37910827 |
| **Liabilities** |  |
| Payables for |  |
| Net daily variation margin on open futures contracts | &nbsp;&nbsp; $65699 |
| Investments purchased | &nbsp;&nbsp; 86 |
| Fund shares reacquired | &nbsp;&nbsp; 6511 |
| Payable to affiliates |  |
| Administrative services fee | &nbsp;&nbsp; 240 |
| Shareholder servicing costs | &nbsp;&nbsp; 6983 |
| Distribution and service fees | &nbsp;&nbsp; 368 |
| Payable for independent Trustees' compensation | &nbsp;&nbsp; 27 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 71067 |
| Total liabilities | &nbsp;&nbsp; $150981 |
| Net assets | &nbsp;&nbsp; $37759846 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $28949487 |
| Total distributable earnings (loss) | &nbsp;&nbsp; 8810359 |
| Net assets | &nbsp;&nbsp; $37759846 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 2838950 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | &nbsp;&nbsp; **Shares** <br>**outstanding**<br>| &nbsp;&nbsp; **Net asset value** <br>**per share (a)**<br>|
| Class A | &nbsp;&nbsp;&nbsp; $4459893 | &nbsp;&nbsp;&nbsp; 334793 | &nbsp;&nbsp;&nbsp; $13.32 |
| Class B | &nbsp;&nbsp;&nbsp; 65445 | &nbsp;&nbsp;&nbsp; 5190 | &nbsp;&nbsp;&nbsp;&nbsp;12.61 |
| Class C | &nbsp;&nbsp;&nbsp; 1398664 | &nbsp;&nbsp;&nbsp; 111521 | &nbsp;&nbsp;&nbsp;&nbsp;12.54 |
| Class I | &nbsp;&nbsp;&nbsp; 28732151 | &nbsp;&nbsp;&nbsp; 2154280 | &nbsp;&nbsp;&nbsp;&nbsp;13.34 |
| Class R1 | &nbsp;&nbsp;&nbsp; 65470 | &nbsp;&nbsp;&nbsp; 5202 | &nbsp;&nbsp;&nbsp;&nbsp;12.59 |
| Class R2 | &nbsp;&nbsp;&nbsp; 68962 | &nbsp;&nbsp;&nbsp; 5267 | &nbsp;&nbsp;&nbsp;&nbsp;13.09 |
| Class R3 | &nbsp;&nbsp;&nbsp; 70705 | &nbsp;&nbsp;&nbsp; 5335 | &nbsp;&nbsp;&nbsp;&nbsp;13.25 |
| Class R4 | &nbsp;&nbsp;&nbsp; 72509 | &nbsp;&nbsp;&nbsp; 5445 | &nbsp;&nbsp;&nbsp;&nbsp;13.32 |
| Class R6 | &nbsp;&nbsp;&nbsp; 2826047 | &nbsp;&nbsp;&nbsp; 211917 | &nbsp;&nbsp;&nbsp;&nbsp;13.34 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Maximum offering price per share was equal to the net asset value per share for all
 share classes, except for Class A, for which the maximum offering price per share was $14.13 [100 / 94.25 x $13.32]. On sales of $50,000 or
 more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class
 A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and
 R6.

**See Notes to Financial Statements**

------

MFS Managed Wealth Fund

**Financial Statements** \| **Statement of Operations**

This statement describes how much your fund earned in investment income and accrued in expenses. It also describes any gains and/or losses generated by fund operations.

---

| | |
|:---|:---|
| **Six months ended 11/30/25 (unaudited)**<br> **Net investment income (loss)**<br>|  |
| Income |  |
| Dividends from affiliated issuers | &nbsp;&nbsp; $155925 |
| Interest | &nbsp;&nbsp; 18982 |
| Total investment income | &nbsp;&nbsp; $174907 |
| Expenses |  |
| Management fee | &nbsp;&nbsp; $64885 |
| Distribution and service fees | &nbsp;&nbsp; 12917 |
| Shareholder servicing costs | &nbsp;&nbsp; 15930 |
| Administrative services fee | &nbsp;&nbsp; 8775 |
| Independent Trustees' compensation | &nbsp;&nbsp; 1517 |
| Custodian fee | &nbsp;&nbsp; 4519 |
| Shareholder communications | &nbsp;&nbsp; 3940 |
| Audit and tax fees | &nbsp;&nbsp; 29845 |
| Legal fees | &nbsp;&nbsp; 117 |
| Registration fees | &nbsp;&nbsp; 65149 |
| Miscellaneous | &nbsp;&nbsp; 23745 |
| Total expenses | &nbsp;&nbsp; $231339 |
| Reduction of expenses by investment adviser | &nbsp;&nbsp; (95766)<br>|
| Net expenses | &nbsp;&nbsp; $135573 |
| Net investment income (loss) | &nbsp;&nbsp; $39334 |
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Unaffiliated issuers | &nbsp;&nbsp; $(61041)<br>|
| Affiliated issuers | &nbsp;&nbsp; 303714 |
| Capital gain distributions from affiliated issuers | &nbsp;&nbsp; 214627 |
| Futures contracts | &nbsp;&nbsp; (2243715)<br>|
| Net realized gain (loss) | &nbsp;&nbsp; $(1786415)<br>|
| Change in unrealized appreciation or depreciation |  |
| Unaffiliated issuers | &nbsp;&nbsp; $(52234)<br>|
| Affiliated issuers | &nbsp;&nbsp; 1979694 |
| Futures contracts | &nbsp;&nbsp; 566550 |
| Net unrealized gain (loss) | &nbsp;&nbsp; $2494010 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $707595 |
| Change in net assets from operations | &nbsp;&nbsp; $746929 |

---

**See Notes to Financial Statements**

------

MFS Managed Wealth Fund

**Financial Statements** \| **Statements of Changes in Net Assets**

These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions.

---

| | | |
|:---|:---|:---|
|  | **Six months ended** | **Year ended** |
|  | <br>**11/30/25** <br>**(unaudited)**<br>| <br>**5/31/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $39334 | &nbsp;&nbsp; $263596 |
| Net realized gain (loss) | (1786415)<br>| &nbsp;&nbsp; 5022864 |
| Net unrealized gain (loss) | 2494010 | &nbsp;&nbsp; (3179450)<br>|
| Change in net assets from operations | $746929 | &nbsp;&nbsp; $2107010 |
| Total distributions to shareholders | $— | &nbsp;&nbsp; $(340242)<br>|
| Change in net assets from fund share transactions | $1980908 | &nbsp;&nbsp; $(5932801)<br>|
| Total change in net assets | $2727837 | &nbsp;&nbsp; $(4166033)<br>|
| **Net assets** |  |  |
| At beginning of period | 35032009 | &nbsp;&nbsp; 39198042 |
| At end of period | $37759846 | &nbsp;&nbsp; $35032009 |

---

**See Notes to Financial Statements**

------

MFS Managed Wealth Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years (or life of a particular share class, if shorter). Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class A**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $13.05 | &nbsp;&nbsp; $12.45 | &nbsp;&nbsp; $11.50 | &nbsp;&nbsp; $11.25 | &nbsp;&nbsp; $11.46 | &nbsp;&nbsp; $11.54 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.00<br> (w)<br>| &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.01 | &nbsp;&nbsp; $0.03 | &nbsp;&nbsp; $(0.01)<br>|
| Net realized and unrealized gain (loss) | 0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (0.05)<br>|
| Total from investment operations | $0.27 | &nbsp;&nbsp; $0.71 | &nbsp;&nbsp; $1.01 | &nbsp;&nbsp; $0.25 | &nbsp;&nbsp; $(0.21)<br>| &nbsp;&nbsp; $(0.06)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.11)<br>| &nbsp;&nbsp; $(0.06)<br>| $— | $— | &nbsp;&nbsp; $(0.02)<br>|
| Net asset value, end of period (x) | $13.32 | &nbsp;&nbsp; $13.05 | &nbsp;&nbsp; $12.45 | &nbsp;&nbsp; $11.50 | &nbsp;&nbsp; $11.25 | &nbsp;&nbsp; $11.46 |
| Total return (%) (r)(s)(t)(x) | 2.07<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.77 | &nbsp;&nbsp;&nbsp;&nbsp;8.78 | &nbsp;&nbsp;&nbsp;&nbsp;2.22 | &nbsp;&nbsp; (1.83)<br>| &nbsp;&nbsp; (0.54)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.43<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.45 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.91 |
| Expenses after expense reductions (h) | 0.92<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 |
| Net investment income (loss) (l) | 0.03<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp; (0.07)<br>|
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 11 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 50 |
| Net assets at end of period (000 omitted) | $4460 | &nbsp;&nbsp; $3757 | &nbsp;&nbsp; $3476 | &nbsp;&nbsp; $3646 | &nbsp;&nbsp; $10280 | &nbsp;&nbsp; $14339 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class B**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $12.40 | &nbsp;&nbsp; $11.82 | &nbsp;&nbsp; $10.95 | &nbsp;&nbsp; $10.79 | &nbsp;&nbsp; $11.08 | &nbsp;&nbsp; $11.23 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.04)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.09)<br>|
| Net realized and unrealized gain (loss) | 0.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (0.06)<br>|
| Total from investment operations | $0.21 | &nbsp;&nbsp; $0.59 | &nbsp;&nbsp; $0.87 | &nbsp;&nbsp; $0.16 | &nbsp;&nbsp; $(0.29)<br>| &nbsp;&nbsp; $(0.15)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.01)<br>| $— | $— | $— | $— |
| Net asset value, end of period (x) | $12.61 | &nbsp;&nbsp; $12.40 | &nbsp;&nbsp; $11.82 | &nbsp;&nbsp; $10.95 | &nbsp;&nbsp; $10.79 | &nbsp;&nbsp; $11.08 |
| Total return (%) (r)(s)(t)(x) | 1.69<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.98 | &nbsp;&nbsp;&nbsp;&nbsp;7.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.48 | &nbsp;&nbsp; (2.62)<br>| &nbsp;&nbsp; (1.34)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 2.18<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.20 | &nbsp;&nbsp;&nbsp;&nbsp;2.05 | &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp;1.66 |
| Expenses after expense reductions (h) | 1.67<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.65 |
| Net investment income (loss) (l) | (0.71)(a)<br>| &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; (0.53)<br>| &nbsp;&nbsp; (0.84)<br>|
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 11 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 50 |
| Net assets at end of period (000 omitted) | $65 | &nbsp;&nbsp; $64 | &nbsp;&nbsp; $67 | &nbsp;&nbsp; $71 | &nbsp;&nbsp; $80 | &nbsp;&nbsp; $74 |

---

**See Notes to Financial Statements**

------

MFS Managed Wealth Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class C**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $12.34 | &nbsp;&nbsp; $11.76 | &nbsp;&nbsp; $10.89 | &nbsp;&nbsp; $10.74 | &nbsp;&nbsp; $11.02 | &nbsp;&nbsp; $11.18 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.04)<br>| &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.09)<br>|
| Net realized and unrealized gain (loss) | 0.24 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.06)<br>|
| Total from investment operations | $0.20 | &nbsp;&nbsp; $0.59 | &nbsp;&nbsp; $0.87 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.15)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.01)<br>| $— | $— | $— | &nbsp;&nbsp; $(0.01)<br>|
| Net asset value, end of period (x) | $12.54 | &nbsp;&nbsp; $12.34 | &nbsp;&nbsp; $11.76 | &nbsp;&nbsp; $10.89 | &nbsp;&nbsp; $10.74 | &nbsp;&nbsp; $11.02 |
| Total return (%) (r)(s)(t)(x) | 1.62<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.02 | &nbsp;&nbsp;&nbsp;&nbsp;7.99 | &nbsp;&nbsp;&nbsp;&nbsp;1.40 | &nbsp;&nbsp; (2.54)<br>| &nbsp;&nbsp; (1.35)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 2.18<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.20 | &nbsp;&nbsp;&nbsp;&nbsp;2.05 | &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp;1.67 |
| Expenses after expense reductions (h) | 1.67<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.66 |
| Net investment income (loss) (l) | (0.72)(a)<br>| &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.57)<br>| &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.86)<br>|
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 11 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 50 |
| Net assets at end of period (000 omitted) | $1399 | &nbsp;&nbsp; $1460 | &nbsp;&nbsp; $1956 | &nbsp;&nbsp; $2369 | &nbsp;&nbsp; $3870 | &nbsp;&nbsp; $6363 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class I**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $13.05 | &nbsp;&nbsp; $12.44 | &nbsp;&nbsp; $11.50 | &nbsp;&nbsp; $11.30 | &nbsp;&nbsp; $11.50 | &nbsp;&nbsp; $11.57 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.02 | &nbsp;&nbsp; $0.10 | &nbsp;&nbsp; $0.09 | &nbsp;&nbsp; $0.05 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.02 |
| Net realized and unrealized gain (loss) | 0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (0.06)<br>|
| Total from investment operations | $0.29 | &nbsp;&nbsp; $0.75 | &nbsp;&nbsp; $1.03 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $(0.18)<br>| &nbsp;&nbsp; $(0.04)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.08)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.03)<br>|
| Net asset value, end of period (x) | $13.34 | &nbsp;&nbsp; $13.05 | &nbsp;&nbsp; $12.44 | &nbsp;&nbsp; $11.50 | &nbsp;&nbsp; $11.30 | &nbsp;&nbsp; $11.50 |
| Total return (%) (r)(s)(t)(x) | 2.22<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.09 | &nbsp;&nbsp;&nbsp;&nbsp;9.01 | &nbsp;&nbsp;&nbsp;&nbsp;2.49 | &nbsp;&nbsp; (1.61)<br>| &nbsp;&nbsp; (0.37)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.18<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.66 |
| Expenses after expense reductions (h) | 0.67<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 |
| Net investment income (loss) (l) | 0.27<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.80 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;0.17 |
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 11 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 50 |
| Net assets at end of period (000 omitted) | $28732 | &nbsp;&nbsp; $26653 | &nbsp;&nbsp; $30581 | &nbsp;&nbsp; $46564 | &nbsp;&nbsp; $82106 | &nbsp;&nbsp; $105346 |

---

**See Notes to Financial Statements**

------

MFS Managed Wealth Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R1**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $12.38 | &nbsp;&nbsp; $11.82 | &nbsp;&nbsp; $10.95 | &nbsp;&nbsp; $10.80 | &nbsp;&nbsp; $11.08 | &nbsp;&nbsp; $11.23 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.04)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.09)<br>|
| Net realized and unrealized gain (loss) | 0.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.06)<br>|
| Total from investment operations | $0.21 | &nbsp;&nbsp; $0.59 | &nbsp;&nbsp; $0.87 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.15)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.03)<br>| $— | $— | $— | $— |
| Net asset value, end of period (x) | $12.59 | &nbsp;&nbsp; $12.38 | &nbsp;&nbsp; $11.82 | &nbsp;&nbsp; $10.95 | &nbsp;&nbsp; $10.80 | &nbsp;&nbsp; $11.08 |
| Total return (%) (r)(s)(t)(x) | 1.70<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.03 | &nbsp;&nbsp;&nbsp;&nbsp;7.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.39 | &nbsp;&nbsp; (2.53)<br>| &nbsp;&nbsp; (1.34)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 2.18<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.20 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.66 |
| Expenses after expense reductions (h) | 1.67<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.65 |
| Net investment income (loss) (l) | (0.71)(a)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp; (0.60)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.83)<br>|
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 11 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 50 |
| Net assets at end of period (000 omitted) | $65 | &nbsp;&nbsp; $64 | &nbsp;&nbsp; $61 | &nbsp;&nbsp; $57 | &nbsp;&nbsp; $56 | &nbsp;&nbsp; $57 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R2**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $12.85 | &nbsp;&nbsp; $12.26 | &nbsp;&nbsp; $11.34 | &nbsp;&nbsp; $11.15 | &nbsp;&nbsp; $11.39 | &nbsp;&nbsp; $11.48 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $(0.01)<br>| &nbsp;&nbsp; $0.04 | &nbsp;&nbsp; $0.04 | &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $(0.00)(w)<br>| &nbsp;&nbsp; $(0.04)<br>|
| Net realized and unrealized gain (loss) | 0.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (0.05)<br>|
| Total from investment operations | $0.24 | &nbsp;&nbsp; $0.68 | &nbsp;&nbsp; $0.97 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $(0.24)<br>| &nbsp;&nbsp; $(0.09)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.05)<br>| &nbsp;&nbsp; $(0.03)<br>| $— | $— |
| Net asset value, end of period (x) | $13.09 | &nbsp;&nbsp; $12.85 | &nbsp;&nbsp; $12.26 | &nbsp;&nbsp; $11.34 | &nbsp;&nbsp; $11.15 | &nbsp;&nbsp; $11.39 |
| Total return (%) (r)(s)(t)(x) | 1.87<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.56 | &nbsp;&nbsp;&nbsp;&nbsp;8.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp; (2.11)<br>| &nbsp;&nbsp; (0.78)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.68<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.56 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.16 |
| Expenses after expense reductions (h) | 1.17<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;&nbsp;1.18 | &nbsp;&nbsp;&nbsp;&nbsp;1.18 | &nbsp;&nbsp;&nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;&nbsp;1.15 |
| Net investment income (loss) (l) | (0.21)(a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.33)<br>|
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 11 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 50 |
| Net assets at end of period (000 omitted) | $69 | &nbsp;&nbsp; $68 | &nbsp;&nbsp; $64 | &nbsp;&nbsp; $59 | &nbsp;&nbsp; $58 | &nbsp;&nbsp; $59 |

---

**See Notes to Financial Statements**

------

MFS Managed Wealth Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R3**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $12.99 | &nbsp;&nbsp; $12.39 | &nbsp;&nbsp; $11.46 | &nbsp;&nbsp; $11.27 | &nbsp;&nbsp; $11.48 | &nbsp;&nbsp; $11.55 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.00<br> (w)<br>| &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $0.02 | &nbsp;&nbsp; $0.03 | &nbsp;&nbsp; $(0.01)<br>|
| Net realized and unrealized gain (loss) | 0.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (0.06)<br>|
| Total from investment operations | $0.26 | &nbsp;&nbsp; $0.72 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $0.24 | &nbsp;&nbsp; $(0.21)<br>| &nbsp;&nbsp; $(0.07)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.12)<br>| &nbsp;&nbsp; $(0.07)<br>| &nbsp;&nbsp; $(0.05)<br>| $— | $— |
| Net asset value, end of period (x) | $13.25 | &nbsp;&nbsp; $12.99 | &nbsp;&nbsp; $12.39 | &nbsp;&nbsp; $11.46 | &nbsp;&nbsp; $11.27 | &nbsp;&nbsp; $11.48 |
| Total return (%) (r)(s)(t)(x) | 2.00<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.83 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 | &nbsp;&nbsp;&nbsp;&nbsp;2.17 | &nbsp;&nbsp; (1.83)<br>| &nbsp;&nbsp; (0.61)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.43<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.45 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.91 |
| Expenses after expense reductions (h) | 0.92<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.90 |
| Net investment income (loss) (l) | 0.04<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp; (0.09)<br>|
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 11 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 50 |
| Net assets at end of period (000 omitted) | $71 | &nbsp;&nbsp; $69 | &nbsp;&nbsp; $65 | &nbsp;&nbsp; $60 | &nbsp;&nbsp; $59 | &nbsp;&nbsp; $60 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R4**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $13.03 | &nbsp;&nbsp; $12.43 | &nbsp;&nbsp; $11.50 | &nbsp;&nbsp; $11.30 | &nbsp;&nbsp; $11.50 | &nbsp;&nbsp; $11.57 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.02 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.10 | &nbsp;&nbsp; $0.05 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.02 |
| Net realized and unrealized gain (loss) | 0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (0.07)<br>|
| Total from investment operations | $0.29 | &nbsp;&nbsp; $0.75 | &nbsp;&nbsp; $1.03 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $(0.18)<br>| &nbsp;&nbsp; $(0.05)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.15)<br>| &nbsp;&nbsp; $(0.10)<br>| &nbsp;&nbsp; $(0.08)<br>| &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.02)<br>|
| Net asset value, end of period (x) | $13.32 | &nbsp;&nbsp; $13.03 | &nbsp;&nbsp; $12.43 | &nbsp;&nbsp; $11.50 | &nbsp;&nbsp; $11.30 | &nbsp;&nbsp; $11.50 |
| Total return (%) (r)(s)(t)(x) | 2.23<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.06 | &nbsp;&nbsp;&nbsp;&nbsp;9.01 | &nbsp;&nbsp;&nbsp;&nbsp;2.51 | &nbsp;&nbsp; (1.60)<br>| &nbsp;&nbsp; (0.40)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.19<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.66 |
| Expenses after expense reductions (h) | 0.67<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 |
| Net investment income (loss) (l) | 0.29<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;0.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.16 |
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 11 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 50 |
| Net assets at end of period (000 omitted) | $73 | &nbsp;&nbsp; $71 | &nbsp;&nbsp; $67 | &nbsp;&nbsp; $61 | &nbsp;&nbsp; $60 | &nbsp;&nbsp; $61 |

---

**See Notes to Financial Statements**

------

MFS Managed Wealth Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R6**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21** |
| Net asset value, beginning of period | $13.05 | &nbsp;&nbsp; $12.44 | &nbsp;&nbsp; $11.50 | &nbsp;&nbsp; $11.31 | &nbsp;&nbsp; $11.51 | &nbsp;&nbsp; $11.57 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d)(l) | $0.02 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $0.10 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $0.04 |
| Net realized and unrealized gain (loss) | 0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; (0.07)<br>|
| Total from investment operations | $0.29 | &nbsp;&nbsp; $0.76 | &nbsp;&nbsp; $1.05 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $(0.17)<br>| &nbsp;&nbsp; $(0.03)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.15)<br>| &nbsp;&nbsp; $(0.11)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.03)<br>| &nbsp;&nbsp; $(0.03)<br>|
| Net asset value, end of period (x) | $13.34 | &nbsp;&nbsp; $13.05 | &nbsp;&nbsp; $12.44 | &nbsp;&nbsp; $11.50 | &nbsp;&nbsp; $11.31 | &nbsp;&nbsp; $11.51 |
| Total return (%) (r)(s)(t)(x) | 2.22<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.20 | &nbsp;&nbsp;&nbsp;&nbsp;9.18 | &nbsp;&nbsp;&nbsp;&nbsp;2.50 | &nbsp;&nbsp; (1.53)<br>| &nbsp;&nbsp; (0.27)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (h) | 1.11<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 |
| Expenses after expense reductions (h) | 0.59<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.58 |
| Net investment income (loss) (l) | 0.37<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.32 |
| Portfolio turnover rate | 9<br> (n)<br>| &nbsp;&nbsp; 11 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 50 |
| Net assets at end of period (000 omitted) | $2826 | &nbsp;&nbsp; $2826 | &nbsp;&nbsp; $2860 | &nbsp;&nbsp; $5768 | &nbsp;&nbsp; $7125 | &nbsp;&nbsp; $7366 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(h) In addition to the fees and expenses which the fund bears directly, the fund indirectly
 bears a pro rata share of the fees and expenses of the underlying affiliated funds in which the fund invests. Accordingly, the expense ratio for the
 fund reflects only those fees and expenses borne directly by the fund. Because the underlying affiliated funds have varied expense and fee levels and the
 fund may own different proportions of the underlying affiliated funds at different times, the amount of fees and expenses incurred indirectly by the
 fund will vary.

&nbsp;&nbsp;&nbsp;&nbsp;(l) The ratios and per share amounts do not include net investment income of the underlying
 affiliated funds in which the fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(w) Per share amount was less than $0.01.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

MFS Managed Wealth Fund

**Notes to Financial Statements (unaudited)**

**(1) Business and Organization**

MFS Managed Wealth Fund (the fund) is a diversified series of MFS Series Trust X (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(2) Significant Accounting Policies**

**General** — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of the fund's Statement of Assets and Liabilities through the date that the financial statements were issued. The fund invests in derivatives as part of its principal investment strategy. Derivatives can be highly volatile and involve risks in addition to the risks of the underlying indicators on which the derivative is based. Derivatives can involve leverage.

The fund is a "fund of funds", which invests the majority of its assets in other MFS mutual funds (underlying funds), which may have different fiscal year ends than the fund. The underlying funds, in turn, may engage in a number of investment techniques and practices, which involve certain risks. Certain underlying funds can invest in foreign securities, including securities of emerging market issuers. Investments in foreign securities are vulnerable to the effects of changes in the relative values of the local currency and the U.S. dollar and to the effects of changes in each country's market, economic, industrial, political, regulatory, geopolitical, environmental, public health, and other conditions. Investments tied economically to emerging markets, especially frontier markets, can involve additional and greater risks than the risks associated with investments in developed markets. Emerging markets can have less developed markets, greater custody and operational risk, less developed legal, regulatory, and accounting systems, greater government involvement in the economy, greater risk of new or inconsistent government treatment of or restrictions on issuers and instruments, and greater political, social, geopolitical, and economic instability than developed markets.

The accounting policies of the underlying funds in which the fund invests are outlined in the underlying funds' financial statements, which are available without charge by calling 1-800-225-2606, at mfs.com and on the Securities and Exchange Commission (SEC) web site at http://www.sec.gov. The underlying funds' financial statements are not covered by this report.

The investment objective of each of the underlying funds held by the fund at November 30, 2025 was to seek capital appreciation.

**Operating Segments** — In this reporting period, the fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the fund's financial position or the results of its operations. An operating segment is a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the entity's chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available. The fund represents a single operating segment and the Chairman's Committee of the fund's adviser acts as the segment's CODM. The fund's total returns, expense ratios, and changes in net assets which are used by the CODM to assess segment performance and to make resource allocation decisions to the segment are consistent with that presented within the fund's financial statements.

**Balance Sheet Offsetting** — The fund's accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the International Swaps and Derivatives Association (ISDA) Master Agreement, or similar agreement, does not result in an offset of reported amounts of financial assets and financial liabilities in the Statement of Assets and Liabilities across transactions between the fund and the applicable counterparty. The fund's right to setoff may be restricted or prohibited by the bankruptcy or insolvency laws of the particular jurisdiction to which a specific master netting agreement counterparty is subject. Balance sheet offsetting disclosures, to the extent applicable to the fund, have been included in the fund's Significant Accounting Policies note under the captions for each of the fund's in-scope financial instruments and transactions.

**Investment Valuations** — Open-end investment companies (underlying funds) are generally valued at their net asset value per share. The investments of underlying funds managed by the adviser are valued as described below. For purposes of this policy disclosure, "fund" also refers to the underlying funds in which the fund-of-funds invests.

------

MFS Managed Wealth Fund

*Notes to Financial Statements (unaudited) - continued* 

Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Exchange-traded options are generally valued at the last sale or official closing price on their primary exchange as provided by a third-party pricing service. Exchange-traded options for which there were no sales reported that day are generally valued at the last daily bid quotation on their primary exchange as provided by a third-party pricing service. For put options, the position may be valued at the last daily ask quotation if there are no trades reported during the day. Options not traded on an exchange are generally valued at a broker/dealer bid quotation. Foreign currency options are generally valued at valuations provided by a third-party pricing service. Futures contracts are generally valued at last posted settlement price on their primary exchange as provided by a third-party pricing service. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation on their primary exchange as provided by a third-party pricing service. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. Pricing services generally value debt instruments assuming orderly transactions of institutional round lot sizes, but a fund may hold or transact in such securities in smaller, odd lot sizes. In instances where a fund holds an odd lot size position in a debt instrument, such position will typically be valued using the pricing agent's institutional round lot price for the debt instrument. Odd lots may trade at lower prices than institutional round lots, and the fund may receive different prices when it sells odd lot positions than it would receive for sales of institutional round lot positions. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund's net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund's foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities,

------

MFS Managed Wealth Fund

*Notes to Financial Statements (unaudited) - continued* 

interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. Other financial instruments are derivative instruments, such as futures contracts. The following is a summary of the levels used as of November 30, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| U.S. Treasury Bonds & U.S. Government <br> Agencies & Equivalents<br>| $— | $671303 | $— | $671303 |
| Purchased Options | 62005 | 24120 |  | 86125 |
| Investment Companies | 37123095 |  |  | 37123095 |
| Total | $37185100 | $695423 | $— | $37880523 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Other Financial Instruments** |  |  |  |
| Futures Contracts – Liabilities | $(306171)<br>| $— | $(306171)<br>|

---

For further information regarding security characteristics, see the Portfolio of Investments. Please refer to the underlying funds' financial statements for further information regarding the levels used in valuing the underlying funds' assets and liabilities.

**Derivatives** — The fund uses derivatives primarily to increase or decrease exposure to a particular market or segment of the market, or security, to increase or decrease interest rate or currency exposure, or as alternatives to direct investments. Derivatives are used for hedging or non-hedging purposes. While hedging can reduce or eliminate losses, it can also reduce or eliminate gains. When the fund uses derivatives as an investment to increase market exposure, or for hedging purposes, gains and losses from derivative instruments may be substantially greater than the derivative's original cost.

The derivative instruments used by the fund during the period were purchased options and futures contracts. Depending on the type of derivative, a fund may exit a derivative position by entering into an offsetting transaction with a counterparty or exchange, negotiating an agreement with the derivative counterparty, or novating the position to a third party. The fund's period end derivatives, as presented in the Portfolio of Investments and the associated Derivative Contract tables, generally are indicative of the volume of its derivative activity during the period.

The following table presents, by major type of derivative contract, the fair value, on a gross basis, of the asset and liability components of derivatives held by the fund at November 30, 2025 as reported in the Statement of Assets and Liabilities:

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Fair Value (a)** | **Fair Value (a)** |
| **Risk** | **Derivative Contracts** | **Asset Derivatives** | **Liability Derivatives** |
| Equity | Purchased Option Contracts | $86125 | $— |
| Equity | Futures Contracts |  | (306171) |
| Total |  | $86125 | $(306171) |

---

(a) The value of purchased options outstanding is included in investments in unaffiliated issuers, at value, within the Statement of Assets and Liabilities. Values presented in this table for futures contracts correspond to the values reported in the Portfolio of Investments. Only the current day net variation margin for futures contracts is reported separately within the Statement of Assets and Liabilities.

The following table presents, by major type of derivative contract, the realized gain (loss) on derivatives held by the fund for the six months ended November 30, 2025 as reported in the Statement of Operations:

---

| | | |
|:---|:---|:---|
| **Risk** | **Futures** <br>**Contracts**<br>| **Unaffiliated Issuers** <br>**(Purchased** <br>**Options)**<br>|
| Equity | $(2243715)<br>| &nbsp;&nbsp; $(58573)<br>|

---

The following table presents, by major type of derivative contract, the change in unrealized appreciation or depreciation on derivatives held by the fund for the six months ended November 30, 2025 as reported in the Statement of Operations:

---

| | | |
|:---|:---|:---|
| **Risk** | **Futures** <br>**Contracts**<br>| **Unaffiliated Issuers** <br>**(Purchased** <br>**Options)**<br>|
| Equity | $566550 | &nbsp;&nbsp; $(54145)<br>|

---

Derivative counterparty credit risk is managed through formal evaluation of the creditworthiness of all potential counterparties. On certain, but not all, uncleared derivatives, the fund attempts to reduce its exposure to counterparty credit risk whenever possible by entering into an ISDA Master Agreement on a bilateral basis. The ISDA Master Agreement gives each party to the agreement the right to terminate all transactions traded under such agreement if there is a specified deterioration in the credit quality of the other party. Upon an event of default or a termination of the ISDA Master Agreement, the non-defaulting party has the right to close out

------

MFS Managed Wealth Fund

*Notes to Financial Statements (unaudited) - continued* 

all transactions traded under such agreement and to net amounts owed under each agreement to one net amount payable by one party to the other. This right to close out and net payments across all transactions traded under the ISDA Master Agreement could result in a reduction of the fund's credit risk to such counterparty equal to any amounts payable by the fund under the applicable transactions, if any.

Collateral and margin requirements differ by type of derivative. For exchange-traded and cleared derivatives (e.g., futures contracts, cleared swaps, and exchange-traded options), margin requirements are set by the exchange or clearing broker and the clearing house and collateral, in the form of cash or securities, is posted by the fund directly with the exchange or clearing broker. Collateral terms are counterparty agreement specific for uncleared derivatives (e.g., forward foreign currency exchange contracts, uncleared swap agreements, and uncleared options). Collateral, in the form of cash and securities, is held in segregated accounts with the fund's custodian in connection with these agreements. For derivatives traded under an ISDA Master Agreement, which contains a credit support annex, the collateral requirements are netted across all transactions traded under such counterparty-specific agreement and an amount is posted from one party to the other to collateralize such obligations. Cash that has been segregated or delivered to cover the fund's collateral or margin obligations under derivative contracts, if any, will be reported separately in the Statement of Assets and Liabilities as restricted cash for uncleared derivatives and/or deposits with brokers for exchange-traded or cleared derivatives. Securities pledged as collateral or margin for the same purpose, if any, are noted in the Portfolio of Investments. The fund may be required to make payments of interest on uncovered collateral or margin obligations with the broker. Any such payments are included in "Miscellaneous" expense in the Statement of Operations.

The following table presents the fund's derivative assets and liabilities (by type) on a gross basis as of November 30, 2025:

---

| | | |
|:---|:---|:---|
| **Gross Amounts of:** | **Derivative Assets** | **Derivative Liabilities** |
| Futures Contracts (a) | $— | $(65699) |
| Purchased Options (a) | 86125 |  |
| Total Gross Amount of Derivative Assets <br>and Liabilities Presented in the <br>Statement of Assets & Liabilities<br>| $86125 | $(65699) |
| Less: Derivative Assets and Liabilities Not Subject <br>to a Master Netting Agreement or <br>Similar Arrangement<br>| 86125 | 65699 |
| Total Gross Amount of Derivative Assets and <br>Liabilities Subject to a Master Netting Agreement or <br>Similar Arrangement<br>| $— | $— |

---

(a) The value of purchased options outstanding is included in investments in unaffiliated issuers, at value, within the Statement of Assets and Liabilities. The amount presented here represents the fund's current day net variation margin for futures contracts. This amount, which is recognized within the Statement of Assets and Liabilities, differs from the fair value of the futures contracts which is presented in the tables that follow the Portfolio of Investments.

**Purchased Options** — The fund purchased put options for a premium. Purchased put options entitle the holder to sell a specified number of shares or units of a particular security, currency or index at a specified price at a specified date or within a specified period of time. Purchasing put options may hedge against an anticipated decline in the value of portfolio securities or currency or decrease the fund's exposure to an underlying instrument.

The premium paid is initially recorded as an investment in the Statement of Assets and Liabilities. That investment is subsequently marked-to-market daily with the difference between the premium paid and the market value of the purchased option being recorded as unrealized appreciation or depreciation. Premiums paid for purchased put options which have expired are treated as realized losses on investments in the Statement of Operations. Upon the exercise or closing of a purchased put option, the premium paid is offset against the proceeds on the sale of the underlying security or financial instrument in order to determine the realized gain or loss on investments.

Whether or not the option is exercised, the fund's maximum risk of loss from purchasing an option is the amount of premium paid. All option contracts involve credit risk if the counterparty to the option contract fails to perform. For uncleared options, this risk is mitigated in cases where there is an ISDA Master Agreement between the fund and the counterparty providing for netting as described above and, where applicable, by the posting of collateral by the counterparty to the fund to cover the fund's exposure to the counterparty under such ISDA Master Agreement.

**Futures Contracts** — The fund entered into futures contracts which may be used to hedge against or obtain broad market exposure, interest rate exposure, currency exposure, or to manage duration. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date.

------

MFS Managed Wealth Fund

*Notes to Financial Statements (unaudited) - continued* 

Upon entering into a futures contract, the fund is required to deposit with the broker, either in cash or securities, an initial margin in an amount equal to a specified percentage of the notional amount of the contract. Subsequent payments (variation margin) are made or received by the fund each day, depending on the daily fluctuations in the value of the contract, and are recorded for financial statement purposes as unrealized gain or loss by the fund until the contract is closed or expires at which point the gain or loss on futures contracts is realized.

The fund bears the risk of interest rates, exchange rates or securities prices moving unexpectedly, in which case, the fund may not achieve the anticipated benefits of the futures contracts and may realize a loss. While futures contracts may present less counterparty risk to the fund since the contracts are exchange traded and the exchange's clearinghouse guarantees payments to the broker, there is still counterparty credit risk due to the insolvency of the broker. The fund's maximum risk of loss due to counterparty credit risk is equal to the margin posted by the fund to the broker plus any gains or minus any losses on the outstanding futures contracts.

**Indemnifications** — Under the fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into agreements with service providers that may contain indemnification clauses. The fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against the fund that have not yet occurred.

**Investment Transactions and Income** — Interest income is recorded on the accrual basis. All premium and discount is amortized or accreted for financial statement purposes in accordance with U.S. generally accepted accounting principles. Distributions of income and capital gains from the underlying funds are recorded on the ex-dividend date. Recognition of net investment income and realized gain from affiliated issuers by the fund is affected by the timing of the declaration of distributions by the underlying funds in which the fund invests.

The fund and/or the underlying funds may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statement of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statement of Operations.

Investment transactions are recorded on the trade date. In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis.

**Tax Matters and Distributions** — The fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. The fund's federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for generally a three year period. Management has analyzed the fund's tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability.

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.

Book/tax differences primarily relate to wash sale loss deferrals and derivative transactions.

The tax character of distributions declared to shareholders for the last fiscal year is as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**5/31/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $340242 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

------

MFS Managed Wealth Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | |
|:---|:---|
| **As of 11/30/25** |  |
| Cost of investments | &nbsp;&nbsp; $21141846 |
| Gross appreciation | &nbsp;&nbsp; 16823202 |
| Gross depreciation | &nbsp;&nbsp; (84525)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $16738677 |
| **As of 5/31/25** |  |
| Undistributed ordinary income | &nbsp;&nbsp; 260568 |
| Capital loss carryforwards | &nbsp;&nbsp; (6405528)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; 14208390 |

---

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

As of May 31, 2025, the fund had capital loss carryforwards available to offset future realized gains. These net capital losses may be carried forward indefinitely and their character is retained as short-term and/or long-term losses. Such losses are characterized as follows:

---

| | |
|:---|:---|
| Short-Term | $(6405528)<br>|

---

**Multiple Classes of Shares of Beneficial Interest** — The fund offers multiple classes of shares, which differ in their respective distribution and service fees. The fund's income, realized and unrealized gain (loss), and common expenses are allocated to shareholders based on the daily net assets of each class. Dividends are declared separately for each class. Differences in per share dividend rates are generally due to differences in separate class expenses. Class B and Class C shares will convert to Class A shares approximately eight years after purchase. The fund's distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months ended** <br>**11/30/25**<br>| **Year ended** <br>**5/31/25**<br>|
| Class A | $— | &nbsp;&nbsp; $30881 |
| Class B |  | &nbsp;&nbsp; 42 |
| Class C |  | &nbsp;&nbsp; 1590 |
| Class I |  | &nbsp;&nbsp; 274942 |
| Class R1 |  | &nbsp;&nbsp; 175 |
| Class R2 |  | &nbsp;&nbsp; 459 |
| Class R3 |  | &nbsp;&nbsp; 618 |
| Class R4 |  | &nbsp;&nbsp; 788 |
| Class R6 |  | &nbsp;&nbsp; 30747 |
| Total | $— | &nbsp;&nbsp; $340242 |

---

**(3) Transactions with Affiliates**

**Investment Adviser** — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. The management fee is computed daily and paid monthly at an annual rate of 0.35% of the fund's average daily net assets.

MFS has agreed in writing to reduce its management fee by a specified amount if certain MFS mutual fund assets exceed thresholds agreed to by MFS and the fund's Board of Trustees. MFS has also agreed in writing to waive at least 0.01% of its management fee as part of this agreement. The agreement to waive at least 0.01% of the management fee will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this management fee reduction amounted to $2,573, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.34% of the fund's average daily net assets.

The investment adviser has agreed in writing to pay a portion of the fund's total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses (such as fees and expenses associated with investments in investment companies and other similar investment vehicles), such that total fund operating expenses do not exceed the following rates annually of each class's average daily net assets:

------

MFS Managed Wealth Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Classes | Classes | Classes | Classes | Classes | Classes | Classes | Classes | Classes |
| A | B | C | I | R1 | R2 | R3 | R4 | R6 |
| 0.91% | 1.66% | 1.66% | 0.66% | 1.66% | 1.16% | 0.91% | 0.66% | 0.63% |

---

This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this reduction amounted to $93,193, which is included in the reduction of total expenses in the Statement of Operations.

In addition to the fees and expenses which the fund bears directly, the fund indirectly bears a pro rata share of the fees and expenses of the underlying funds in which the fund invests. Accordingly, the expense ratio for the fund reflects only those fees and expenses borne directly by the fund.

**Distributor** — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received $358 for the six months ended November 30, 2025, as its portion of the initial sales charge on sales of Class A shares of the fund.

The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.

The fund's distribution plan provides that the fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries. The distribution and service fees are computed daily and paid monthly.

**Distribution Plan Fee Table:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| Class A |  | 0.25% | 0.25% | 0.25% | $4799 |
| Class B | 0.75% | 0.25% | 1.00% | 1.00% | 327 |
| Class C | 0.75% | 0.25% | 1.00% | 1.00% | 7204 |
| Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 327 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 172 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 88 |
| Total Distribution and Service Fees  |  |  |  |  | $12917 |

---

(d) In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each

class's average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting

period. Any rate changes, if applicable, are detailed below.

(e) The annual effective rates represent actual fees incurred under the distribution plan for the six months ended November 30, 2025 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended November 30, 2025, there were no service fee rebates.

Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class B shares are subject to a CDSC in the event of a shareholder redemption within six years of purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD. There were no contingent deferred sales charges imposed during the six months ended November 30, 2025.

**Shareholder Servicing Agent** — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from the fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of the fund as determined periodically under the supervision of the fund's Board of Trustees. For the six months ended November 30, 2025, the fee was $1,807, which equated to 0.0097% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the six months ended November 30, 2025, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $14,123.

------

MFS Managed Wealth Fund

*Notes to Financial Statements (unaudited) - continued* 

**Administrator** — MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to the fund. Under an administrative services agreement, the fund reimburses MFS the costs incurred to provide these services. The fund is charged an annual fixed amount of $17,500 plus a fee based on average daily net assets. The administrative services fee is computed daily and paid monthly. The administrative services fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.0473% of the fund's average daily net assets.

**Trustees' and Officers' Compensation** — The fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. Independent Trustees' compensation is accrued daily and paid subsequent to each Trustee Board meeting. The fund does not pay compensation directly to Trustees or officers of the fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to the fund. Certain officers and Trustees of the fund are officers or directors of MFS, MFD, and MFSC.

**Other** — The fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.

MFS purchased or redeemed fund shares on the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| 8/19/2024 | Redemption | Class A | 3 | $35 |
| 8/19/2024 | Redemption | Class C | 2 | 24 |
| 8/19/2024 | Redemption | Class I | 2 | 26 |

---

At November 30, 2025, MFS held 100% of the outstanding shares of Class B, Class R1, Class R2, Class R3, and Class R4.

**(4) Portfolio Securities**

For the six months ended November 30, 2025, purchases and sales of investments, other than short-term obligations and purchased options with an expiration date of less than one year from the time of purchase, aggregated $2,978,484 and $4,384,446, respectively.

**(5) Shares of Beneficial Interest** 

The fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** <br>**11/30/25** | **Six months ended** <br>**11/30/25** | **Year ended** <br>**5/31/25** | **Year ended** <br>**5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 77901 | &nbsp;&nbsp; $1037636 | &nbsp;&nbsp; 80109 | &nbsp;&nbsp; $1015420 |
| Class C | 3147 | &nbsp;&nbsp; 39494 | &nbsp;&nbsp; 10218 | &nbsp;&nbsp; 122950 |
| Class I | 344910 | &nbsp;&nbsp; 4586919 | &nbsp;&nbsp; 375148 | &nbsp;&nbsp; 4738226 |
| Class R6 | 110 | &nbsp;&nbsp; 1445 | &nbsp;&nbsp; 33386 | &nbsp;&nbsp; 417408 |
|  | 426068 | &nbsp;&nbsp; $5665494 | &nbsp;&nbsp; 498861 | &nbsp;&nbsp; $6294004 |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A |  | $— | &nbsp;&nbsp; 2467 | &nbsp;&nbsp; $30881 |
| Class B |  |  | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 42 |
| Class C |  |  | &nbsp;&nbsp; 134 | &nbsp;&nbsp; 1590 |
| Class I |  |  | &nbsp;&nbsp; 21264 | &nbsp;&nbsp; 266014 |
| Class R1 |  |  | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 175 |
| Class R2 |  |  | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 459 |
| Class R3 |  |  | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 618 |
| Class R4 |  |  | &nbsp;&nbsp; 63 | &nbsp;&nbsp; 788 |
| Class R6 |  |  | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 211 |
|  |  | $— | &nbsp;&nbsp; 24050 | &nbsp;&nbsp; $300778 |

---

------

MFS Managed Wealth Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **11/30/25** | **Six months ended**<br> **11/30/25** | **Year ended**<br> **5/31/25** | **Year ended**<br> **5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares reacquired |  |  |  |  |
| Class A | (30915)<br>| &nbsp;&nbsp; $(412197)<br>| &nbsp;&nbsp; (73993)<br>| &nbsp;&nbsp; $(939777)<br>|
| Class B |  |  | &nbsp;&nbsp; (497)<br>| &nbsp;&nbsp; (5998)<br>|
| Class C | (9962)<br>| &nbsp;&nbsp; (124589)<br>| &nbsp;&nbsp; (58385)<br>| &nbsp;&nbsp; (694864)<br>|
| Class I | (232694)<br>| &nbsp;&nbsp; (3084269)<br>| &nbsp;&nbsp; (811870)<br>| &nbsp;&nbsp; (10295358)<br>|
| Class R6 | (4797)<br>| &nbsp;&nbsp; (63531)<br>| &nbsp;&nbsp; (46679)<br>| &nbsp;&nbsp; (591586)<br>|
|  | (278368)<br>| &nbsp;&nbsp; $(3684586)<br>| &nbsp;&nbsp; (991424)<br>| &nbsp;&nbsp; $(12527583)<br>|
| Net change |  |  |  |  |
| Class A | 46986 | &nbsp;&nbsp; $625439 | &nbsp;&nbsp; 8583 | &nbsp;&nbsp; $106524 |
| Class B |  |  | &nbsp;&nbsp; (493)<br>| &nbsp;&nbsp; (5956)<br>|
| Class C | (6815)<br>| &nbsp;&nbsp; (85095)<br>| &nbsp;&nbsp; (48033)<br>| &nbsp;&nbsp; (570324)<br>|
| Class I | 112216 | &nbsp;&nbsp; 1502650 | &nbsp;&nbsp; (415458)<br>| &nbsp;&nbsp; (5291118)<br>|
| Class R1 |  |  | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 175 |
| Class R2 |  |  | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 459 |
| Class R3 |  |  | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 618 |
| Class R4 |  |  | &nbsp;&nbsp; 63 | &nbsp;&nbsp; 788 |
| Class R6 | (4687)<br>| &nbsp;&nbsp; (62086)<br>| &nbsp;&nbsp; (13276)<br>| &nbsp;&nbsp; (173967)<br>|
|  | 147700 | &nbsp;&nbsp; $1980908 | &nbsp;&nbsp; (468513)<br>| &nbsp;&nbsp; $(5932801)<br>|

---

Effective June 1, 2019, purchases of the fund's Class B shares were closed to new and existing investors subject to certain exceptions. Effective September 29, 2023, purchases of the fund's Class R1 and Class R2 shares were closed to new eligible investors.

**(6) Line of Credit**

The fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by the fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate) plus 0.10%, 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 12, 2026 unless extended or renewed. In addition, the fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the six months ended November 30, 2025, the fund's commitment fee and interest expense were $81 and $0, respectively, and are included in "Miscellaneous" expense in the Statement of Operations.

**(7) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the six months ended November 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Beginning** <br>**Value**<br>| **Purchases** | &nbsp;&nbsp; **Sales** <br>**Proceeds**<br>| &nbsp;&nbsp; **Realized** <br>**Gain** <br>**(Loss)**<br>| &nbsp;&nbsp; **Change in** <br>**Unrealized** <br>**Appreciation** <br> **or** <br>**Depreciation**<br>| &nbsp;&nbsp; **Ending** <br>**Value**<br>|
| MFS Growth Fund | &nbsp;&nbsp; $11329454 | &nbsp;&nbsp; $1051360 | &nbsp;&nbsp; $2233591 | &nbsp;&nbsp; $92972 | &nbsp;&nbsp; $1049028 | &nbsp;&nbsp; $11289223 |
| MFS Institutional Money Market <br> Portfolio<br>| &nbsp;&nbsp; 835251 | &nbsp;&nbsp; 10517470 | &nbsp;&nbsp; 8423752 | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 516 | &nbsp;&nbsp; 2929590 |
| MFS International Equity Fund | &nbsp;&nbsp; 11042755 | &nbsp;&nbsp; 1073361 | &nbsp;&nbsp; 1236186 | &nbsp;&nbsp; 201941 | &nbsp;&nbsp; 293867 | &nbsp;&nbsp; 11375738 |
| MFS Value Fund | &nbsp;&nbsp; 10615803 | &nbsp;&nbsp; 1126951 | &nbsp;&nbsp; 859189 | &nbsp;&nbsp; 8696 | &nbsp;&nbsp; 636283 | &nbsp;&nbsp; 11528544 |
|  | &nbsp;&nbsp; $33823263 | &nbsp;&nbsp; $13769142 | &nbsp;&nbsp; $12752718 | &nbsp;&nbsp; $303714 | &nbsp;&nbsp; $1979694 | &nbsp;&nbsp; $37123095 |

---

------

MFS Managed Wealth Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| MFS Growth Fund | $— | &nbsp;&nbsp; $214627 |
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; 54873 |  |
| MFS International Equity Fund |  |  |
| MFS Value Fund | &nbsp;&nbsp; 101052 |  |
|  | &nbsp;&nbsp; $155925 | &nbsp;&nbsp; $214627 |

---

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Managed Wealth Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Managed Wealth Fund.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

This information is disclosed as part of the financial statements included in Item 7 above for MFS Managed Wealth Fund. See the Statement of Operations and Note 3 within the Notes to Financial Statements for more information.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

------

MFS Managed Wealth Fund

**Board Review of Investment Advisory Agreement**

**MFS Managed Wealth Fund** 

The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested ("independent") Trustees, voting separately, annually approve the continuation of the Fund's investment advisory agreement with MFS. The Trustees consider matters bearing on the Fund and its advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2025 ("contract review meetings") for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Fund and the other investment companies that the Board oversees (the "MFS Funds"). The independent Trustees were assisted in their evaluation of the Fund's investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.

In connection with their deliberations regarding the continuation of the investment advisory agreement, the Trustees, including the independent Trustees, considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The investment advisory agreement for the Fund was considered separately, although the Trustees also took into account the common interests of all MFS Funds in their review. As described below, the Trustees considered the nature, quality, and extent of the various investment advisory, administrative, and shareholder services performed by MFS under the existing investment advisory agreement and other arrangements with the Fund.

In connection with their contract review meetings, the Trustees received and relied upon materials that included, among other items: (i) information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent third party, on the investment performance of the Fund for various time periods ended December 31, 2024 and the investment performance of a group of funds with substantially similar investment classifications/objectives (the "Broadridge performance universe"), (ii) information provided by Broadridge on the Fund's advisory fees and other expenses and the advisory fees and other expenses of comparable funds identified by Broadridge as well as all other funds in the same investment classification/category (the "Broadridge expense group and universe"), (iii) information provided by MFS on the advisory fees of portfolios of other clients of MFS, including institutional separate accounts and other clients, (iv) information as to whether and to what extent applicable expense waivers, reimbursements or fee "breakpoints" are observed for the Fund, (v) information regarding MFS' financial results and financial condition, including MFS' and certain of its affiliates' estimated profitability from services performed for the Fund and the MFS Funds as a whole, and compared to MFS' institutional business, (vi) MFS' views regarding the outlook for the mutual fund industry and the strategic business plans of MFS, (vii) descriptions of various functions performed by MFS for the Funds, such as compliance monitoring and portfolio trading practices, and (viii) information regarding the overall organization of MFS, including information about MFS' senior management and other personnel providing investment advisory, administrative and other services to the Fund and the other MFS Funds. The comparative performance, fee and expense information prepared and provided by Broadridge was not independently verified and the independent Trustees did not independently verify any information provided to them by MFS.

The Trustees' conclusion as to the continuation of the investment advisory agreement was based on a comprehensive consideration of all information provided to the Trustees and not the result of any single factor. Some of the factors that figured particularly in the Trustees' deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. It is also important to recognize that the fee arrangements for the Fund and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees' conclusions may be based, in part, on their consideration of these same arrangements during the course of the year and in prior years.

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I shares was in the 4th quintile relative to the other funds in the universe for this five-year period (the 1st quintile being the best performers and the 5th quintile being the worst performers). The total return performance of the Fund's Class I shares was in the 3rd quintile for the one-year period and the 4th quintile for the three-year period ended December 31, 2024 relative to the Broadridge performance universe. Because of the passage of time, these performance results may differ from the performance results for more recent periods, including those shown elsewhere in this report.

The Trustees expressed concern to MFS about the substandard investment performance of the Fund. In the course of their deliberations, the Trustees took into account information provided by MFS in connection with the contract review meetings, as well as during investment review meetings conducted with portfolio management personnel during the course of the year, as to MFS' efforts to improve the Fund's performance. In addition, the Trustees requested that they receive a separate update on the Fund's

------

MFS Managed Wealth Fund

*Board Review of Investment Advisory Agreement - continued*

performance at each of their regular meetings. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that MFS' responses and efforts and plans to improve investment performance were sufficient to support approval of the continuance of the investment advisory agreement for an additional one-year period, but that they would continue to closely monitor the performance of the Fund.

In assessing the reasonableness of the Fund's advisory fee, the Trustees considered, among other information, the Fund's advisory fee and the total expense ratio of the Fund's Class I shares as a percentage of average daily net assets and the advisory fee and total expense ratios of the Broadridge expense group based on information provided by Broadridge. The Trustees considered that MFS currently observes an expense limitation for the Fund, which may not be changed without the Trustees' approval. The Trustees also considered that, according to the data provided by Broadridge (which takes into account any fee reductions or expense limitations that were in effect during the Fund's last fiscal year), the Fund's effective advisory fee rate and total expense ratio were each lower than the Broadridge expense group median.

The Trustees also considered the advisory fees charged by MFS to any institutional separate accounts advised by MFS ("separate accounts") and unaffiliated investment companies for which MFS serves as subadviser ("subadvised funds") that have comparable investment strategies to the Fund, if any. In comparing these fees, the Trustees considered information provided by MFS as to the generally broader scope of services provided by MFS to the Fund, as well as the more extensive regulatory burdens imposed on MFS in managing the Fund, in comparison to separate accounts and subadvised funds. The Trustees also considered the higher demands placed on MFS' investment personnel and trading infrastructure as a result of the daily cash in-flows and out-flows of the Fund in comparison to separate accounts.

The Trustees also considered whether the Fund may benefit from any economies of scale in the management of the Fund in the event of growth in assets of the Fund and/or growth in assets of the MFS Funds as a whole. They noted that the Fund's advisory fee rate schedule is not subject to any breakpoints. Taking into account the expense limitation noted above, the Trustees determined not to recommend any advisory fee breakpoints for the Fund at this time. The Trustees also noted that MFS has agreed in writing to waive a portion of the management fees of certain MFS Funds, including the Fund, if the total combined assets of certain funds within the MFS Funds' complex increase above agreed upon thresholds (the "group fee waiver"), enabling the Fund's shareholders to share in the benefits from any economies of scale at the complex level. The group fee waiver is reviewed and renewed annually between the Board and MFS. The Trustees concluded that the group fee waiver was sufficient to allow the Fund to benefit from economies of scale as its assets and overall complex assets grow.

The Trustees also considered information prepared by MFS relating to MFS' costs and profits with respect to the Fund, the MFS Funds considered as a group, and other investment companies and accounts advised by MFS, as well as MFS' methodologies used to determine and allocate its costs to the MFS Funds, the Fund and other accounts and products for purposes of estimating profitability.

After reviewing these and other factors described herein, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that the advisory fees charged to the Fund represent reasonable compensation in light of the services being provided by MFS to the Fund.

In addition, the Trustees considered MFS' resources and related efforts to continue to retain, attract and motivate capable personnel to serve the Fund. The Trustees also considered current and developing conditions in the financial services industry, including the presence of large and well-capitalized companies which are spending, and appear to be prepared to continue to spend, substantial sums to engage personnel and to provide services to competing investment companies. In this regard, the Trustees also considered the financial resources of MFS and its ultimate parent, Sun Life Financial Inc. The Trustees also considered the advantages and possible disadvantages to the Fund of having an adviser that also serves other investment companies as well as other accounts.

The Trustees also considered the nature, quality, cost, and extent of administrative, transfer agency, and distribution services provided to the Fund by MFS and its affiliates under agreements and plans other than the investment advisory agreement, including any 12b-1 fees the Fund pays to MFS Fund Distributors, Inc., an affiliate of MFS. The Trustees also considered the nature, extent and quality of certain other services MFS performs or arranges for on the Fund's behalf, which may include securities lending programs, directed expense payment programs, class action recovery programs, and MFS' interaction with third-party service providers, principally custodians and sub-custodians. The Trustees concluded that the various non-advisory services provided by MFS and its affiliates on behalf of the Fund were satisfactory.

The Trustees considered so-called "fall-out benefits" to MFS such as reputational value derived from serving as investment manager to the MFS Funds. The Trustees also considered that MFS discontinued its historic practice of obtaining investment research from portfolio brokerage commissions paid by certain MFS Funds effective January 2018, and directly pays or voluntarily reimburses a Fund, if applicable, for the costs of external research acquired through the use of the Fund's portfolio brokerage commissions.

------

MFS Managed Wealth Fund

*Board Review of Investment Advisory Agreement - continued*

Based on their evaluation of factors that they deemed to be material, including those factors described above, the Board of Trustees, including the independent Trustees, concluded that the Fund's investment advisory agreement with MFS should be continued for an additional one-year period, commencing August 1, 2025.

------

MFS International Large Cap Value Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS International Large Cap Value Fund

**Portfolio of Investments - 11/30/25 (unaudited)**

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – 97.1% | Common Stocks – 97.1% | Common Stocks – 97.1% |
| Aerospace & Defense – 1.6% | Aerospace & Defense – 1.6% |  |
| BAE Systems PLC | 2402960 | &nbsp;&nbsp; $52530802 |
| Dassault Aviation S.A. | 200224 | &nbsp;&nbsp; 62849513 |
|  |  | &nbsp;&nbsp; $115380315 |
| Airlines – 1.3% | Airlines – 1.3% |  |
| Ryanair Holdings PLC, ADR | 1427659 | &nbsp;&nbsp; $97309237 |
| Alcoholic Beverages – 1.9% | Alcoholic Beverages – 1.9% |  |
| Diageo PLC | 3340085 | &nbsp;&nbsp; $76777523 |
| Heineken N.V. | 807113 | &nbsp;&nbsp; 65706101 |
|  |  | &nbsp;&nbsp; $142483624 |
| Apparel Manufacturers – 0.3% | Apparel Manufacturers – 0.3% |  |
| Burberry Group PLC (a) | 1458794 | &nbsp;&nbsp; $22017107 |
| Automotive – 2.7% | Automotive – 2.7% |  |
| Aptiv PLC (a) | 629029 | &nbsp;&nbsp; $48781199 |
| Compagnie Generale des Etablissements Michelin | 1753949 | &nbsp;&nbsp; 57273451 |
| DENSO Corp. | 2992100 | &nbsp;&nbsp; 39466056 |
| Toyota Industries Corp. (l) | 181800 | &nbsp;&nbsp; 20352658 |
| USS Co. Ltd. | 2843200 | &nbsp;&nbsp; 31720599 |
|  |  | &nbsp;&nbsp; $197593963 |
| Broadcasting – 1.1% | Broadcasting – 1.1% |  |
| Publicis Groupe | 830395 | &nbsp;&nbsp; $80894424 |
| Brokerage & Asset Managers – 4.9% | Brokerage & Asset Managers – 4.9% |  |
| B3 S.A. - Brasil Bolsa Balcao | 17108900 | &nbsp;&nbsp; $47982217 |
| Barclays PLC | 30396609 | &nbsp;&nbsp; 173219978 |
| Deutsche Boerse AG | 230926 | &nbsp;&nbsp; 61744994 |
| IG Group Holdings PLC | 4990386 | &nbsp;&nbsp; 75020847 |
|  |  | &nbsp;&nbsp; $357968036 |
| Business Services – 1.6% | Business Services – 1.6% |  |
| Edenred | 1041576 | &nbsp;&nbsp; $22340139 |
| RS Group PLC | 3517464 | &nbsp;&nbsp; 27301043 |
| Sodexo | 1278376 | &nbsp;&nbsp; 67532002 |
|  |  | &nbsp;&nbsp; $117173184 |
| Chemicals – 0.6% | Chemicals – 0.6% |  |
| FUJIFILM Holdings Corp. | 2074700 | &nbsp;&nbsp; $44645779 |
| Computer Software - Systems – 7.5% | Computer Software - Systems – 7.5% |  |
| Amadeus IT Group S.A. | 1143524 | &nbsp;&nbsp; $84019740 |
| Capgemini | 706614 | &nbsp;&nbsp; 110491818 |
| Hitachi Ltd. | 3432800 | &nbsp;&nbsp; 109223456 |
| NEC Corp. | 3508300 | &nbsp;&nbsp; 132364514 |

---

MKVFS-SEM

------

MFS International Large Cap Value Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Computer Software - Systems – continued | Computer Software - Systems – continued |  |
| Samsung Electronics Co. Ltd. | 1705973 | &nbsp;&nbsp; $116581298 |
|  |  | &nbsp;&nbsp; $552680826 |
| Construction – 1.7% | Construction – 1.7% |  |
| CRH PLC | 384777 | &nbsp;&nbsp; $46157849 |
| Techtronic Industries Co. Ltd. | 6544500 | &nbsp;&nbsp; 76575811 |
|  |  | &nbsp;&nbsp; $122733660 |
| Consumer Products – 1.6% | Consumer Products – 1.6% |  |
| Haleon PLC | 15597167 | &nbsp;&nbsp; $76622183 |
| Reckitt Benckiser Group PLC | 551307 | &nbsp;&nbsp; 42731662 |
|  |  | &nbsp;&nbsp; $119353845 |
| Electrical Equipment – 4.2% | Electrical Equipment – 4.2% |  |
| Legrand S.A. | 321523 | &nbsp;&nbsp; $48690800 |
| Mitsubishi Electric Corp. | 5275000 | &nbsp;&nbsp; 142668919 |
| Schneider Electric SE | 447197 | &nbsp;&nbsp; 119830908 |
|  |  | &nbsp;&nbsp; $311190627 |
| Electronics – 1.5% | Electronics – 1.5% |  |
| Kyocera Corp. | 4028400 | &nbsp;&nbsp; $55134436 |
| NXP Semiconductors N.V. | 292128 | &nbsp;&nbsp; 56947432 |
|  |  | &nbsp;&nbsp; $112081868 |
| Energy - Integrated – 6.4% | Energy - Integrated – 6.4% |  |
| Aker BP ASA | 1576380 | &nbsp;&nbsp; $38359974 |
| Cenovus Energy, Inc. | 2297207 | &nbsp;&nbsp; 40990138 |
| Eni S.p.A. | 6961514 | &nbsp;&nbsp; 130271647 |
| Suncor Energy, Inc. | 2189532 | &nbsp;&nbsp; 98479183 |
| TotalEnergies SE | 2508310 | &nbsp;&nbsp; 165267529 |
|  |  | &nbsp;&nbsp; $473368471 |
| Food & Beverages – 1.3% | Food & Beverages – 1.3% |  |
| Danone S.A. | 1045781 | &nbsp;&nbsp; $93409159 |
| Food & Drug Stores – 2.6% | Food & Drug Stores – 2.6% |  |
| Seven & I Holdings Co. Ltd. | 5468000 | &nbsp;&nbsp; $75222646 |
| Tesco PLC | 19097785 | &nbsp;&nbsp; 113903458 |
|  |  | &nbsp;&nbsp; $189126104 |
| General Merchandise – 0.2% | General Merchandise – 0.2% |  |
| B&M European Value Retail S.A. | 7127786 | &nbsp;&nbsp; $15945431 |
| Insurance – 3.8% | Insurance – 3.8% |  |
| Manulife Financial Corp. (l) | 2305717 | &nbsp;&nbsp; $81640353 |
| St. James's Place PLC | 2971977 | &nbsp;&nbsp; 54833823 |
| Willis Towers Watson PLC | 439057 | &nbsp;&nbsp; 140937297 |
|  |  | &nbsp;&nbsp; $277411473 |
| Interactive Media Services – 0.4% | Interactive Media Services – 0.4% |  |
| Baidu, Inc., ADR (a) | 260467 | &nbsp;&nbsp; $30445988 |

---

------

MFS International Large Cap Value Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Machinery & Tools – 1.7% | Machinery & Tools – 1.7% |  |
| Aalberts Industries N.V. | 609636 | &nbsp;&nbsp; $19588824 |
| Daikin Industries Ltd. | 314700 | &nbsp;&nbsp; 40884395 |
| IHI Corp. | 1268100 | &nbsp;&nbsp; 22622599 |
| IMI PLC | 1244697 | &nbsp;&nbsp; 40126953 |
|  |  | &nbsp;&nbsp; $123222771 |
| Major Banks – 20.7% | Major Banks – 20.7% |  |
| ABN AMRO Group N.V., GDR | 2305151 | &nbsp;&nbsp; $77946376 |
| Bank of Ireland Group PLC | 7722137 | &nbsp;&nbsp; 142964555 |
| BNP Paribas S.A. | 2114077 | &nbsp;&nbsp; 180712148 |
| BPER Banca S.p.A. (l) | 6621518 | &nbsp;&nbsp; 79728374 |
| Lloyds Banking Group PLC | 42082327 | &nbsp;&nbsp; 53586554 |
| Mitsubishi UFJ Financial Group, Inc. | 17042000 | &nbsp;&nbsp; 264514455 |
| National Bank of Greece S.A. | 3320009 | &nbsp;&nbsp; 51991341 |
| NatWest Group PLC | 37632320 | &nbsp;&nbsp; 315113817 |
| Resona Holdings, Inc. | 6544000 | &nbsp;&nbsp; 66617702 |
| Toronto-Dominion Bank | 1215797 | &nbsp;&nbsp; 102378783 |
| UBS Group AG | 4812306 | &nbsp;&nbsp; 185830614 |
|  |  | &nbsp;&nbsp; $1521384719 |
| Medical & Health Technology & Services – 0.9% | Medical & Health Technology & Services – 0.9% |  |
| ICON PLC (a) | 350467 | &nbsp;&nbsp; $64836395 |
| Medical Equipment – 1.6% | Medical Equipment – 1.6% |  |
| ConvaTec Group PLC | 8318294 | &nbsp;&nbsp; $25957419 |
| Smith & Nephew PLC | 5684874 | &nbsp;&nbsp; 94459028 |
|  |  | &nbsp;&nbsp; $120416447 |
| Metals & Mining – 2.9% | Metals & Mining – 2.9% |  |
| Glencore PLC | 22419214 | &nbsp;&nbsp; $107136850 |
| Rio Tinto PLC | 1497701 | &nbsp;&nbsp; 107556484 |
|  |  | &nbsp;&nbsp; $214693334 |
| Other Banks & Diversified Financials – 4.0% | Other Banks & Diversified Financials – 4.0% |  |
| AIB Group PLC | 10017146 | &nbsp;&nbsp; $102836021 |
| CaixaBank S.A. | 4328307 | &nbsp;&nbsp; 48280360 |
| FinecoBank S.p.A. | 1890008 | &nbsp;&nbsp; 46369456 |
| Julius Baer Group Ltd. | 1353122 | &nbsp;&nbsp; 96687667 |
|  |  | &nbsp;&nbsp; $294173504 |
| Pharmaceuticals – 5.3% | Pharmaceuticals – 5.3% |  |
| Novartis AG | 185988 | &nbsp;&nbsp; $24190248 |
| Roche Holding AG | 532503 | &nbsp;&nbsp; 203773711 |
| Sandoz Group AG | 567662 | &nbsp;&nbsp; 40081898 |
| Sanofi | 1216796 | &nbsp;&nbsp; 121048813 |
|  |  | &nbsp;&nbsp; $389094670 |
| Printing & Publishing – 1.6% | Printing & Publishing – 1.6% |  |
| Informa PLC | 5479195 | &nbsp;&nbsp; $69654546 |
| Springer Nature AG & Co. KGaA | 911555 | &nbsp;&nbsp; 22575571 |
| Wolters Kluwer N.V. | 236250 | &nbsp;&nbsp; 25102980 |
|  |  | &nbsp;&nbsp; $117333097 |

---

------

MFS International Large Cap Value Fund

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Specialty Chemicals – 1.6% | Specialty Chemicals – 1.6% |  |
| Akzo Nobel N.V. | 497253 | &nbsp;&nbsp; $32324627 |
| Nitto Denko Corp. | 3436800 | &nbsp;&nbsp; 84984532 |
|  |  | &nbsp;&nbsp; $117309159 |
| Specialty Stores – 0.7% | Specialty Stores – 0.7% |  |
| Alibaba Group Holding Ltd., ADR | 195392 | &nbsp;&nbsp; $30735161 |
| Shimamura Co. Ltd. | 308800 | &nbsp;&nbsp; 22130601 |
|  |  | &nbsp;&nbsp; $52865762 |
| Telecom Services – 1.0% | Telecom Services – 1.0% |  |
| Koninklijke KPN N.V. | 15367119 | &nbsp;&nbsp; $70233881 |
| Tobacco – 3.1% | Tobacco – 3.1% |  |
| British American Tobacco PLC | 3015751 | &nbsp;&nbsp; $176590753 |
| Imperial Brands PLC | 1226497 | &nbsp;&nbsp; 52113808 |
|  |  | &nbsp;&nbsp; $228704561 |
| Utilities - Electric Power – 4.8% | Utilities - Electric Power – 4.8% |  |
| E.ON SE | 6781138 | &nbsp;&nbsp; $120744943 |
| Iberdrola S.A. | 3751429 | &nbsp;&nbsp; 79134894 |
| National Grid PLC | 10104288 | &nbsp;&nbsp; 153437579 |
|  |  | &nbsp;&nbsp; $353317416 |
| **Total Common Stocks (Identified Cost, $4,698,935,974)** |  | &nbsp;&nbsp; **$7140798837** |
| Preferred Stocks – 1.7% | Preferred Stocks – 1.7% | Preferred Stocks – 1.7% |
| Consumer Products – 1.7% |  |  |
| Henkel AG & Co. KGaA (Identified Cost, $131,760,078) | 1529653 | &nbsp;&nbsp; $123462577 |
| Mutual Funds (h) – 0.9% | Mutual Funds (h) – 0.9% | Mutual Funds (h) – 0.9% |
| Money Market Funds – 0.9% | Money Market Funds – 0.9% |  |
| MFS Institutional Money Market Portfolio, 4.01% (v) (Identified Cost, $67,202,417) | 67195932 | &nbsp;&nbsp; $67209371 |
| Collateral for Securities Loaned – 0.1% | Collateral for Securities Loaned – 0.1% | Collateral for Securities Loaned – 0.1% |
| JPMorgan U.S. Government Money Market Fund - Class IM Shares, 3.93% (j) (Identified Cost, $9,730,781) | 9730781 | &nbsp;&nbsp; $9730781 |
| Other Assets, Less Liabilities – 0.2% |  | &nbsp;&nbsp; 11407734 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$7352609300** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $67,209,371 and $7,273,992,195, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(j) The rate quoted is the annualized seven-day yield of the fund at period end.

&nbsp;&nbsp;&nbsp;&nbsp;(l) A portion of this security is on loan. See Note 2 for additional information.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

The following abbreviations are used in this report and are defined: <br> ADR American Depositary Receipt <br> GDR Global Depositary Receipt

**See Notes to Financial Statements**

------

MFS International Large Cap Value Fund

**Financial Statements** \| **Statement of Assets and Liabilities**

This statement represents your fund's balance sheet, which details the assets and liabilities comprising the total value of the fund.

---

| | |
|:---|:---|
| **At 11/30/25 (unaudited)**<br> **Assets**<br>|  |
| Investments in unaffiliated issuers, at value, including $37,778,860 of securities on loan (identified cost, $4,840,426,833) | &nbsp;&nbsp; $7273992195 |
| Investments in affiliated issuers, at value (identified cost, $67,202,417) | &nbsp;&nbsp; 67209371 |
| Cash | &nbsp;&nbsp; 1461294 |
| Receivables for |  |
| Investments sold | &nbsp;&nbsp; 2488 |
| Fund shares sold | &nbsp;&nbsp; 228044 |
| Interest and dividends | &nbsp;&nbsp; 30346811 |
| Other assets | &nbsp;&nbsp; 1134 |
| Total assets | &nbsp;&nbsp; $7373241337 |
| **Liabilities** |  |
| Payable to custodian | &nbsp;&nbsp; $500018 |
| Payables for |  |
| Investments purchased | &nbsp;&nbsp; 3199680 |
| Fund shares reacquired | &nbsp;&nbsp; 6222691 |
| Collateral for securities loaned, at value (c) | &nbsp;&nbsp; 9730781 |
| Payable to affiliates |  |
| Investment adviser | &nbsp;&nbsp; 427924 |
| Administrative services fee | &nbsp;&nbsp; 7508 |
| Shareholder servicing costs | &nbsp;&nbsp; 6885 |
| Distribution and service fees | &nbsp;&nbsp; 816 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 535734 |
| Total liabilities | &nbsp;&nbsp; $20632037 |
| Net assets | &nbsp;&nbsp; $7352609300 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $4340116121 |
| Total distributable earnings (loss) | &nbsp;&nbsp; 3012493179 |
| Net assets | &nbsp;&nbsp; $7352609300 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 416546760 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(c) Non-cash collateral is not included.

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | &nbsp;&nbsp; **Shares** <br>**outstanding**<br>| &nbsp;&nbsp; **Net asset value** <br>**per share (a)**<br>|
| Class A | &nbsp;&nbsp;&nbsp; $18957363 | &nbsp;&nbsp;&nbsp; 1080023 | &nbsp;&nbsp;&nbsp; $17.55 |
| Class C | &nbsp;&nbsp;&nbsp; 1005434 | &nbsp;&nbsp;&nbsp; 57822 | &nbsp;&nbsp;&nbsp;&nbsp;17.39 |
| Class I | &nbsp;&nbsp;&nbsp; 97349107 | &nbsp;&nbsp;&nbsp; 5504346 | &nbsp;&nbsp;&nbsp;&nbsp;17.69 |
| Class R1 | &nbsp;&nbsp;&nbsp; 133891 | &nbsp;&nbsp;&nbsp; 7676 | &nbsp;&nbsp;&nbsp;&nbsp;17.44 |
| Class R2 | &nbsp;&nbsp;&nbsp; 142076 | &nbsp;&nbsp;&nbsp; 8087 | &nbsp;&nbsp;&nbsp;&nbsp;17.57 |
| Class R3 | &nbsp;&nbsp;&nbsp; 192466 | &nbsp;&nbsp;&nbsp; 10928 | &nbsp;&nbsp;&nbsp;&nbsp;17.61 |
| Class R4 | &nbsp;&nbsp;&nbsp; 142107 | &nbsp;&nbsp;&nbsp; 8039 | &nbsp;&nbsp;&nbsp;&nbsp;17.68 |
| Class R6 | &nbsp;&nbsp;&nbsp; 7234686856 | &nbsp;&nbsp;&nbsp; 409869839 | &nbsp;&nbsp;&nbsp;&nbsp;17.65 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Maximum offering price per share was equal to the net asset value per share for all
 share classes, except for Class A, for which the maximum offering price per share was $18.62 [100 / 94.25 x $17.55]. On sales of $50,000 or
 more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class
 A and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6.

**See Notes to Financial Statements**

------

MFS International Large Cap Value Fund

**Financial Statements** \| **Statement of Operations**

This statement describes how much your fund earned in investment income and accrued in expenses. It also describes any gains and/or losses generated by fund operations.

---

| | |
|:---|:---|
| **Six months ended 11/30/25 (unaudited)**<br> **Net investment income (loss)**<br>|  |
| Income |  |
| Dividends from unaffiliated issuers | &nbsp;&nbsp; $90009625 |
| Dividends from affiliated issuers | &nbsp;&nbsp; 1599882 |
| Income on securities loaned | &nbsp;&nbsp; 213533 |
| Other | &nbsp;&nbsp; 2329 |
| Foreign taxes withheld | &nbsp;&nbsp; (4508589)<br>|
| Total investment income | &nbsp;&nbsp; $87316780 |
| Expenses |  |
| Management fee | &nbsp;&nbsp; $25354230 |
| Distribution and service fees | &nbsp;&nbsp; 25985 |
| Shareholder servicing costs | &nbsp;&nbsp; 23924 |
| Administrative services fee | &nbsp;&nbsp; 274787 |
| Independent Trustees' compensation | &nbsp;&nbsp; 71540 |
| Custodian fee | &nbsp;&nbsp; 361408 |
| Shareholder communications | &nbsp;&nbsp; 3392 |
| Audit and tax fees | &nbsp;&nbsp; 38655 |
| Legal fees | &nbsp;&nbsp; 16449 |
| Miscellaneous | &nbsp;&nbsp; 229332 |
| Total expenses | &nbsp;&nbsp; $26399702 |
| Fees paid indirectly | &nbsp;&nbsp; (5224)<br>|
| Reduction of expenses by investment adviser | &nbsp;&nbsp; (2013288)<br>|
| Net expenses | &nbsp;&nbsp; $24381190 |
| Net investment income (loss) | &nbsp;&nbsp; $62935590 |
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Unaffiliated issuers | &nbsp;&nbsp; $248325765 |
| Affiliated issuers | &nbsp;&nbsp; 4439 |
| Foreign currency | &nbsp;&nbsp; 1118459 |
| Net realized gain (loss) | &nbsp;&nbsp; $249448663 |
| Change in unrealized appreciation or depreciation |  |
| Unaffiliated issuers | &nbsp;&nbsp; $541974909 |
| Affiliated issuers | &nbsp;&nbsp; 6954 |
| Translation of assets and liabilities in foreign currencies | &nbsp;&nbsp; (647442)<br>|
| Net unrealized gain (loss) | &nbsp;&nbsp; $541334421 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $790783084 |
| Change in net assets from operations | &nbsp;&nbsp; $853718674 |

---

**See Notes to Financial Statements**

------

MFS International Large Cap Value Fund

**Financial Statements** \| **Statements of Changes in Net Assets**

These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions.

---

| | | |
|:---|:---|:---|
|  | **Six months ended** | **Year ended** |
|  | <br>**11/30/25** <br>**(unaudited)**<br>| <br>**5/31/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $62935590 | &nbsp;&nbsp; $190250773 |
| Net realized gain (loss) | 249448663 | &nbsp;&nbsp; 396934950 |
| Net unrealized gain (loss) | 541334421 | &nbsp;&nbsp; 577108999 |
| Change in net assets from operations | $853718674 | &nbsp;&nbsp; $1164294722 |
| Total distributions to shareholders | $— | &nbsp;&nbsp; $(421989881)<br>|
| Change in net assets from fund share transactions | $(425138255)<br>| &nbsp;&nbsp; $(254578594)<br>|
| Total change in net assets | $428580419 | &nbsp;&nbsp; $487726247 |
| **Net assets** |  |  |
| At beginning of period | 6924028881 | &nbsp;&nbsp; 6436302634 |
| At end of period | $7352609300 | &nbsp;&nbsp; $6924028881 |

---

**See Notes to Financial Statements**

------

MFS International Large Cap Value Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years (or life of a particular share class, if shorter). Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class A**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21(c)** |
| Net asset value, beginning of period | $15.61 | &nbsp;&nbsp; $14.03 | &nbsp;&nbsp; $12.38 | &nbsp;&nbsp; $12.41 | &nbsp;&nbsp; $13.66 | &nbsp;&nbsp; $10.00 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.12 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.39 | &nbsp;&nbsp; $0.38 | &nbsp;&nbsp; $0.35 | &nbsp;&nbsp; $0.29 |
| Net realized and unrealized gain (loss) | 1.82 | &nbsp;&nbsp;&nbsp;&nbsp;2.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.42 |
| Total from investment operations | $1.94 | &nbsp;&nbsp; $2.50 | &nbsp;&nbsp; $2.17 | &nbsp;&nbsp; $0.29 | &nbsp;&nbsp; $(0.76)<br>| &nbsp;&nbsp; $3.71 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.38)<br>| &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(0.20)<br>| &nbsp;&nbsp; $(0.27)<br>| &nbsp;&nbsp; $(0.05)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.92)<br>| &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(0.49)<br>| &nbsp;&nbsp; $(0.05)<br>|
| Net asset value, end of period (x) | $17.55 | &nbsp;&nbsp; $15.61 | &nbsp;&nbsp; $14.03 | &nbsp;&nbsp; $12.38 | &nbsp;&nbsp; $12.41 | &nbsp;&nbsp; $13.66 |
| Total return (%) (r)(s)(t)(x) | 12.43<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;19.00 | &nbsp;&nbsp;&nbsp;&nbsp;17.92 | &nbsp;&nbsp;&nbsp;&nbsp;2.45 | &nbsp;&nbsp; (5.74)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 37.16<br> (n)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 1.02<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;1.04 | &nbsp;&nbsp;&nbsp;&nbsp; 1.04<br> (a)<br>|
| Expenses after expense reductions (f) | 0.96<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp; 0.93<br> (a)<br>|
| Net investment income (loss) | 1.47<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.93 | &nbsp;&nbsp;&nbsp;&nbsp;3.01 | &nbsp;&nbsp;&nbsp;&nbsp;3.13 | &nbsp;&nbsp;&nbsp;&nbsp;2.72 | &nbsp;&nbsp;&nbsp;&nbsp; 2.61<br> (a)<br>|
| Portfolio turnover rate | 10<br> (n)<br>| &nbsp;&nbsp; 22 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 18<br> (n)<br>|
| Net assets at end of period (000 omitted) | $18957 | &nbsp;&nbsp; $13162 | &nbsp;&nbsp; $7962 | &nbsp;&nbsp; $5864 | &nbsp;&nbsp; $2956 | &nbsp;&nbsp; $1187 |

---

**See Notes to Financial Statements**

------

MFS International Large Cap Value Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class C**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21(c)** |
| Net asset value, beginning of period | $15.53 | &nbsp;&nbsp; $13.94 | &nbsp;&nbsp; $12.29 | &nbsp;&nbsp; $12.33 | &nbsp;&nbsp; $13.61 | &nbsp;&nbsp; $10.00 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.05 | &nbsp;&nbsp; $0.27 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.16 |
| Net realized and unrealized gain (loss) | 1.81 | &nbsp;&nbsp;&nbsp;&nbsp;2.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.77 | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (1.08)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.45 |
| Total from investment operations | $1.86 | &nbsp;&nbsp; $2.39 | &nbsp;&nbsp; $2.05 | &nbsp;&nbsp; $0.20 | &nbsp;&nbsp; $(0.86)<br>| &nbsp;&nbsp; $3.61 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.26)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(0.12)<br>| &nbsp;&nbsp; $(0.20)<br>| $— |
| From net realized gain |  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.80)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.24)<br>| &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.00)(w)<br>|
| Net asset value, end of period (x) | $17.39 | &nbsp;&nbsp; $15.53 | &nbsp;&nbsp; $13.94 | &nbsp;&nbsp; $12.29 | &nbsp;&nbsp; $12.33 | &nbsp;&nbsp; $13.61 |
| Total return (%) (r)(s)(t)(x) | 11.98<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18.21 | &nbsp;&nbsp;&nbsp;&nbsp;17.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp; (6.46)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 36.11<br> (n)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 1.77<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.76 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp; 1.81<br> (a)<br>|
| Expenses after expense reductions (f) | 1.71<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.72 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp; 1.68<br> (a)<br>|
| Net investment income (loss) | 0.67<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;&nbsp;&nbsp;2.15 | &nbsp;&nbsp;&nbsp;&nbsp;1.89 | &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp; 1.49<br> (a)<br>|
| Portfolio turnover rate | 10<br> (n)<br>| &nbsp;&nbsp; 22 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 18<br> (n)<br>|
| Net assets at end of period (000 omitted) | $1005 | &nbsp;&nbsp; $973 | &nbsp;&nbsp; $893 | &nbsp;&nbsp; $905 | &nbsp;&nbsp; $1111 | &nbsp;&nbsp; $636 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class I**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21(c)** |
| Net asset value, beginning of period | $15.71 | &nbsp;&nbsp; $14.11 | &nbsp;&nbsp; $12.45 | &nbsp;&nbsp; $12.43 | &nbsp;&nbsp; $13.69 | &nbsp;&nbsp; $10.00 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.14 | &nbsp;&nbsp; $0.55 | &nbsp;&nbsp; $0.40 | &nbsp;&nbsp; $0.39 | &nbsp;&nbsp; $0.41 | &nbsp;&nbsp; $0.31 |
| Net realized and unrealized gain (loss) | 1.84 | &nbsp;&nbsp;&nbsp;&nbsp;2.00 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.44 |
| Total from investment operations | $1.98 | &nbsp;&nbsp; $2.55 | &nbsp;&nbsp; $2.21 | &nbsp;&nbsp; $0.34 | &nbsp;&nbsp; $(0.75)<br>| &nbsp;&nbsp; $3.75 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(0.20)<br>| &nbsp;&nbsp; $(0.29)<br>| &nbsp;&nbsp; $(0.06)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.95)<br>| &nbsp;&nbsp; $(0.55)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $(0.06)<br>|
| Net asset value, end of period (x) | $17.69 | &nbsp;&nbsp; $15.71 | &nbsp;&nbsp; $14.11 | &nbsp;&nbsp; $12.45 | &nbsp;&nbsp; $12.43 | &nbsp;&nbsp; $13.69 |
| Total return (%) (r)(s)(t)(x) | 12.60<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;19.33 | &nbsp;&nbsp;&nbsp;&nbsp;18.16 | &nbsp;&nbsp;&nbsp;&nbsp;2.88 | &nbsp;&nbsp; (5.60)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 37.58<br> (n)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 0.77<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp; 0.79<br> (a)<br>|
| Expenses after expense reductions (f) | 0.71<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp; 0.68<br> (a)<br>|
| Net investment income (loss) | 1.71<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.82 | &nbsp;&nbsp;&nbsp;&nbsp;3.04 | &nbsp;&nbsp;&nbsp;&nbsp;3.28 | &nbsp;&nbsp;&nbsp;&nbsp;3.15 | &nbsp;&nbsp;&nbsp;&nbsp; 2.82<br> (a)<br>|
| Portfolio turnover rate | 10<br> (n)<br>| &nbsp;&nbsp; 22 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 18<br> (n)<br>|
| Net assets at end of period (000 omitted) | $97349 | &nbsp;&nbsp; $51095 | &nbsp;&nbsp; $15423 | &nbsp;&nbsp; $11178 | &nbsp;&nbsp; $18972 | &nbsp;&nbsp; $2775 |

---

**See Notes to Financial Statements**

------

MFS International Large Cap Value Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R1**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21(c)** |
| Net asset value, beginning of period | $15.57 | &nbsp;&nbsp; $13.99 | &nbsp;&nbsp; $12.35 | &nbsp;&nbsp; $12.36 | &nbsp;&nbsp; $13.61 | &nbsp;&nbsp; $10.00 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.06 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.24 | &nbsp;&nbsp; $0.19 | &nbsp;&nbsp; $0.09 |
| Net realized and unrealized gain (loss) | 1.81 | &nbsp;&nbsp;&nbsp;&nbsp;2.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (1.06)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.52 |
| Total from investment operations | $1.87 | &nbsp;&nbsp; $2.39 | &nbsp;&nbsp; $2.06 | &nbsp;&nbsp; $0.20 | &nbsp;&nbsp; $(0.87)<br>| &nbsp;&nbsp; $3.61 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.27)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.16)<br>| $— |
| From net realized gain |  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.81)<br>| &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.21)<br>| &nbsp;&nbsp; $(0.38)<br>| &nbsp;&nbsp; $(0.00)(w)<br>|
| Net asset value, end of period (x) | $17.44 | &nbsp;&nbsp; $15.57 | &nbsp;&nbsp; $13.99 | &nbsp;&nbsp; $12.35 | &nbsp;&nbsp; $12.36 | &nbsp;&nbsp; $13.61 |
| Total return (%) (r)(s)(t)(x) | 12.01<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18.14 | &nbsp;&nbsp;&nbsp;&nbsp;16.98 | &nbsp;&nbsp;&nbsp;&nbsp;1.76 | &nbsp;&nbsp; (6.49)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 36.11<br> (n)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 1.77<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.76 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp; 1.83<br> (a)<br>|
| Expenses after expense reductions (f) | 1.71<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp; 1.68<br> (a)<br>|
| Net investment income (loss) | 0.70<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.99 | &nbsp;&nbsp;&nbsp;&nbsp;2.19 | &nbsp;&nbsp;&nbsp;&nbsp;2.04 | &nbsp;&nbsp;&nbsp;&nbsp;1.43 | &nbsp;&nbsp;&nbsp;&nbsp; 0.85<br> (a)<br>|
| Portfolio turnover rate | 10<br> (n)<br>| &nbsp;&nbsp; 22 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 18<br> (n)<br>|
| Net assets at end of period (000 omitted) | $134 | &nbsp;&nbsp; $120 | &nbsp;&nbsp; $101 | &nbsp;&nbsp; $86 | &nbsp;&nbsp; $85 | &nbsp;&nbsp; $91 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R2**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21(c)** |
| Net asset value, beginning of period | $15.65 | &nbsp;&nbsp; $14.05 | &nbsp;&nbsp; $12.40 | &nbsp;&nbsp; $12.41 | &nbsp;&nbsp; $13.66 | &nbsp;&nbsp; $10.00 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.10 | &nbsp;&nbsp; $0.35 | &nbsp;&nbsp; $0.35 | &nbsp;&nbsp; $0.30 | &nbsp;&nbsp; $0.25 | &nbsp;&nbsp; $0.14 |
| Net realized and unrealized gain (loss) | 1.82 | &nbsp;&nbsp;&nbsp;&nbsp;2.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (1.05)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.52 |
| Total from investment operations | $1.92 | &nbsp;&nbsp; $2.48 | &nbsp;&nbsp; $2.13 | &nbsp;&nbsp; $0.26 | &nbsp;&nbsp; $(0.80)<br>| &nbsp;&nbsp; $3.66 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.15)<br>| &nbsp;&nbsp; $(0.23)<br>| &nbsp;&nbsp; $(0.00)(w)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.88)<br>| &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(0.27)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.00)(w)<br>|
| Net asset value, end of period (x) | $17.57 | &nbsp;&nbsp; $15.65 | &nbsp;&nbsp; $14.05 | &nbsp;&nbsp; $12.40 | &nbsp;&nbsp; $12.41 | &nbsp;&nbsp; $13.66 |
| Total return (%) (r)(s)(t)(x) | 12.27<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18.81 | &nbsp;&nbsp;&nbsp;&nbsp;17.56 | &nbsp;&nbsp;&nbsp;&nbsp;2.26 | &nbsp;&nbsp; (6.01)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 36.63<br> (n)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 1.27<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.33 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 | &nbsp;&nbsp;&nbsp;&nbsp; 1.33<br> (a)<br>|
| Expenses after expense reductions (f) | 1.21<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;&nbsp;1.21 | &nbsp;&nbsp;&nbsp;&nbsp;1.21 | &nbsp;&nbsp;&nbsp;&nbsp; 1.18<br> (a)<br>|
| Net investment income (loss) | 1.21<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.49 | &nbsp;&nbsp;&nbsp;&nbsp;2.70 | &nbsp;&nbsp;&nbsp;&nbsp;2.55 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp; 1.36<br> (a)<br>|
| Portfolio turnover rate | 10<br> (n)<br>| &nbsp;&nbsp; 22 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 18<br> (n)<br>|
| Net assets at end of period (000 omitted) | $142 | &nbsp;&nbsp; $126 | &nbsp;&nbsp; $105 | &nbsp;&nbsp; $88 | &nbsp;&nbsp; $86 | &nbsp;&nbsp; $92 |

---

**See Notes to Financial Statements**

------

MFS International Large Cap Value Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R3**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21(c)** |
| Net asset value, beginning of period | $15.67 | &nbsp;&nbsp; $14.08 | &nbsp;&nbsp; $12.42 | &nbsp;&nbsp; $12.43 | &nbsp;&nbsp; $13.68 | &nbsp;&nbsp; $10.00 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.12 | &nbsp;&nbsp; $0.40 | &nbsp;&nbsp; $0.38 | &nbsp;&nbsp; $0.33 | &nbsp;&nbsp; $0.29 | &nbsp;&nbsp; $0.17 |
| Net realized and unrealized gain (loss) | 1.82 | &nbsp;&nbsp;&nbsp;&nbsp;2.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.79 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (1.06)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.54 |
| Total from investment operations | $1.94 | &nbsp;&nbsp; $2.51 | &nbsp;&nbsp; $2.17 | &nbsp;&nbsp; $0.29 | &nbsp;&nbsp; $(0.77)<br>| &nbsp;&nbsp; $3.71 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.38)<br>| &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(0.18)<br>| &nbsp;&nbsp; $(0.26)<br>| &nbsp;&nbsp; $(0.03)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.92)<br>| &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.48)<br>| &nbsp;&nbsp; $(0.03)<br>|
| Net asset value, end of period (x) | $17.61 | &nbsp;&nbsp; $15.67 | &nbsp;&nbsp; $14.08 | &nbsp;&nbsp; $12.42 | &nbsp;&nbsp; $12.43 | &nbsp;&nbsp; $13.68 |
| Total return (%) (r)(s)(t)(x) | 12.38<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;19.04 | &nbsp;&nbsp;&nbsp;&nbsp;17.89 | &nbsp;&nbsp;&nbsp;&nbsp;2.51 | &nbsp;&nbsp; (5.77)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 37.15<br> (n)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 1.02<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp; 1.08<br> (a)<br>|
| Expenses after expense reductions (f) | 0.96<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp; 0.93<br> (a)<br>|
| Net investment income (loss) | 1.46<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.81 | &nbsp;&nbsp;&nbsp;&nbsp;2.94 | &nbsp;&nbsp;&nbsp;&nbsp;2.80 | &nbsp;&nbsp;&nbsp;&nbsp;2.19 | &nbsp;&nbsp;&nbsp;&nbsp; 1.61<br> (a)<br>|
| Portfolio turnover rate | 10<br> (n)<br>| &nbsp;&nbsp; 22 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 18<br> (n)<br>|
| Net assets at end of period (000 omitted) | $192 | &nbsp;&nbsp; $160 | &nbsp;&nbsp; $105 | &nbsp;&nbsp; $89 | &nbsp;&nbsp; $87 | &nbsp;&nbsp; $92 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R4**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21(c)** |
| Net asset value, beginning of period | $15.70 | &nbsp;&nbsp; $14.10 | &nbsp;&nbsp; $12.44 | &nbsp;&nbsp; $12.45 | &nbsp;&nbsp; $13.70 | &nbsp;&nbsp; $10.00 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.14 | &nbsp;&nbsp; $0.43 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.36 | &nbsp;&nbsp; $0.32 | &nbsp;&nbsp; $0.19 |
| Net realized and unrealized gain (loss) | 1.84 | &nbsp;&nbsp;&nbsp;&nbsp;2.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.79 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (1.06)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.57 |
| Total from investment operations | $1.98 | &nbsp;&nbsp; $2.55 | &nbsp;&nbsp; $2.21 | &nbsp;&nbsp; $0.32 | &nbsp;&nbsp; $(0.74)<br>| &nbsp;&nbsp; $3.76 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(0.21)<br>| &nbsp;&nbsp; $(0.29)<br>| &nbsp;&nbsp; $(0.06)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.95)<br>| &nbsp;&nbsp; $(0.55)<br>| &nbsp;&nbsp; $(0.33)<br>| &nbsp;&nbsp; $(0.51)<br>| &nbsp;&nbsp; $(0.06)<br>|
| Net asset value, end of period (x) | $17.68 | &nbsp;&nbsp; $15.70 | &nbsp;&nbsp; $14.10 | &nbsp;&nbsp; $12.44 | &nbsp;&nbsp; $12.45 | &nbsp;&nbsp; $13.70 |
| Total return (%) (r)(s)(t)(x) | 12.61<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;19.34 | &nbsp;&nbsp;&nbsp;&nbsp;18.15 | &nbsp;&nbsp;&nbsp;&nbsp;2.76 | &nbsp;&nbsp; (5.53)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 37.67<br> (n)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 0.77<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp; 0.83<br> (a)<br>|
| Expenses after expense reductions (f) | 0.71<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp; 0.68<br> (a)<br>|
| Net investment income (loss) | 1.70<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.99 | &nbsp;&nbsp;&nbsp;&nbsp;3.19 | &nbsp;&nbsp;&nbsp;&nbsp;3.05 | &nbsp;&nbsp;&nbsp;&nbsp;2.44 | &nbsp;&nbsp;&nbsp;&nbsp; 1.86<br> (a)<br>|
| Portfolio turnover rate | 10<br> (n)<br>| &nbsp;&nbsp; 22 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 18<br> (n)<br>|
| Net assets at end of period (000 omitted) | $142 | &nbsp;&nbsp; $126 | &nbsp;&nbsp; $106 | &nbsp;&nbsp; $90 | &nbsp;&nbsp; $87 | &nbsp;&nbsp; $92 |

---

**See Notes to Financial Statements**

------

MFS International Large Cap Value Fund

*Financial Highlights - continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class R6**  | **Six months** <br>**ended**<br>| **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **11/30/25** <br>**(unaudited)**<br>| **5/31/25** | **5/31/24** | **5/31/23** | **5/31/22** | **5/31/21(c)** |
| Net asset value, beginning of period | $15.68 | &nbsp;&nbsp; $14.08 | &nbsp;&nbsp; $12.42 | &nbsp;&nbsp; $12.44 | &nbsp;&nbsp; $13.68 | &nbsp;&nbsp; $10.00 |
| **Income (loss) from investment operations** |  |  |  |  |  |  |
| Net investment income (loss) (d) | $0.15 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $0.32 | &nbsp;&nbsp; $0.30 |
| Net realized and unrealized gain (loss) | 1.82 | &nbsp;&nbsp;&nbsp;&nbsp;2.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.79 | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.44 |
| Total from investment operations | $1.97 | &nbsp;&nbsp; $2.56 | &nbsp;&nbsp; $2.21 | &nbsp;&nbsp; $0.32 | &nbsp;&nbsp; $(0.72)<br>| &nbsp;&nbsp; $3.74 |
| **Less distributions declared to shareholders** |  |  |  |  |  |  |
| From net investment income | $— | &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(0.22)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.06)<br>|
| From net realized gain |  | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; (0.00)(w)<br>|
| Total distributions declared to shareholders | $— | &nbsp;&nbsp; $(0.96)<br>| &nbsp;&nbsp; $(0.55)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(0.06)<br>|
| Net asset value, end of period (x) | $17.65 | &nbsp;&nbsp; $15.68 | &nbsp;&nbsp; $14.08 | &nbsp;&nbsp; $12.42 | &nbsp;&nbsp; $12.44 | &nbsp;&nbsp; $13.68 |
| Total return (%) (r)(s)(t)(x) | 12.56<br> (n)<br>| &nbsp;&nbsp;&nbsp;&nbsp;19.42 | &nbsp;&nbsp;&nbsp;&nbsp;18.24 | &nbsp;&nbsp;&nbsp;&nbsp;2.76 | &nbsp;&nbsp; (5.45)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 37.49<br> (n)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |  |
| Expenses before expense reductions (f) | 0.73<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp; 0.78<br> (a)<br>|
| Expenses after expense reductions (f) | 0.67<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp; 0.67<br> (a)<br>|
| Net investment income (loss) | 1.74<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.96 | &nbsp;&nbsp;&nbsp;&nbsp;3.21 | &nbsp;&nbsp;&nbsp;&nbsp;3.12 | &nbsp;&nbsp;&nbsp;&nbsp;2.45 | &nbsp;&nbsp;&nbsp;&nbsp; 2.74<br> (a)<br>|
| Portfolio turnover rate | 10<br> (n)<br>| &nbsp;&nbsp; 22 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 18<br> (n)<br>|
| Net assets at end of period (000 omitted) | $7234687 | &nbsp;&nbsp; $6858267 | &nbsp;&nbsp; $6411609 | &nbsp;&nbsp; $5790974 | &nbsp;&nbsp; $5727457 | &nbsp;&nbsp; $5800471 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(c) For the period from the commencement of the fund's investment operations, June 30, 2020, through the stated period end.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Ratios do not reflect reductions from fees paid indirectly, if applicable. See Note
 2 in the Notes to Financial Statements for additional information.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Certain expenses have been reduced without which performance would have been lower.

&nbsp;&nbsp;&nbsp;&nbsp;(s) From time to time the fund may receive proceeds from litigation settlements, without
 which performance would be lower.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Total returns do not include any applicable sales charges.

&nbsp;&nbsp;&nbsp;&nbsp;(w) Per share amount was less than $0.01.

&nbsp;&nbsp;&nbsp;&nbsp;(x) The net asset values and total returns have been calculated on net assets which include
 adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes.

**See Notes to Financial Statements**

------

MFS International Large Cap Value Fund

**Notes to Financial Statements (unaudited)**

**(1) Business and Organization**

MFS International Large Cap Value Fund (the fund) is a diversified series of MFS Series Trust X (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(2) Significant Accounting Policies**

**General** — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of the fund's Statement of Assets and Liabilities through the date that the financial statements were issued. The fund invests in foreign securities. Investments in foreign securities are vulnerable to the effects of changes in the relative values of the local currency and the U.S. dollar and to the effects of changes in each country's market, economic, industrial, political, regulatory, geopolitical, environmental, public health, and other conditions.

**Operating Segments** — An operating segment is defined in FASB Accounting Standards Codification Topic 280-Segment Reporting as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the entity's chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available. The fund represents a single operating segment and the Chairman's Committee of the fund's adviser acts as the segment's CODM. The fund's total returns, expense ratios, and changes in net assets which are used by the CODM to assess segment performance and to make resource allocation decisions to the segment are consistent with that presented within the fund's financial statements.

**Balance Sheet Offsetting** — The fund's accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the International Swaps and Derivatives Association (ISDA) Master Agreement, or similar agreement, does not result in an offset of reported amounts of financial assets and financial liabilities in the Statement of Assets and Liabilities across transactions between the fund and the applicable counterparty. The fund's right to setoff may be restricted or prohibited by the bankruptcy or insolvency laws of the particular jurisdiction to which a specific master netting agreement counterparty is subject. Balance sheet offsetting disclosures, to the extent applicable to the fund, have been included in the fund's Significant Accounting Policies note under the captions for each of the fund's in-scope financial instruments and transactions.

**Investment Valuations** — Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data.

------

MFS International Large Cap Value Fund

*Notes to Financial Statements (unaudited) - continued* 

An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund's net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund's foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of November 30, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities | $7264261414 | $— | $— | $7264261414 |
| Investment Companies | 76940152 |  |  | 76940152 |
| Total | $7341201566 | $— | $— | $7341201566 |

---

For further information regarding security characteristics, see the Portfolio of Investments.

**Foreign Currency Translation** — Purchases and sales of foreign investments, income, and expenses are converted into U.S. dollars based upon currency exchange rates prevailing on the respective dates of such transactions or on the reporting date for foreign denominated receivables and payables. Gains and losses attributable to foreign currency exchange rates on sales of securities are recorded for financial statement purposes as net realized gains and losses on investments. Gains and losses attributable to foreign exchange rate movements on receivables, payables, income and expenses are recorded for financial statement purposes as foreign currency transaction gains and losses. That portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.

**Security Loans** — Under its Securities Lending Agency Agreement with the fund, JPMorgan Chase and Co., as lending agent, loans the securities of the fund to certain qualified institutions (the "Borrowers") approved by the fund. Security loans can be terminated at the discretion of either the lending agent or the fund and the related securities must be returned within the earlier of the standard trade settlement period for such securities or within three business days. The loans are collateralized by cash and/or U.S. Treasury and federal agency obligations in an amount typically at least equal to the market value of the securities loaned. On loans collateralized by cash, the cash collateral is invested in a money market fund. The market value of the loaned securities is determined at the close of business of the fund and any additional required collateral is delivered to the fund on the next business day. The lending agent provides the fund with indemnification against Borrower default. In the event of Borrower default, the lending agent will, for the benefit of the fund, either purchase securities identical to those loaned or, when such purchase is commercially impracticable, pay the fund the market value of the loaned securities. In return, the lending agent assumes the fund's rights to the related collateral. If the collateral value is less than the cost to purchase identical securities, the lending agent is responsible for the shortfall, but only to the extent that such shortfall is not due to a decline in collateral value resulting from collateral reinvestment for which the fund bears the risk of loss. At period end, the fund had investment securities on loan, all of which were classified as equity securities in the fund's Portfolio of Investments, with a fair value of $37,778,860. The fair value of the fund's investment securities on loan and a related liability of $9,730,781 for the obligation to return cash collateral received on securities loaned are both presented gross in the Statement of Assets and Liabilities. Additionally, these loans were collateralized by U.S. Treasury Obligations of $29,701,668 held by the custodian or a triparty custodian. The collateral on securities loaned exceeded the value of securities on loan at period end. The liability for cash collateral for securities loaned is carried at fair value, which is categorized as level 2 within the fair value hierarchy. A portion of the income generated upon investment of the collateral is remitted to the Borrowers, and the remainder is allocated

------

MFS International Large Cap Value Fund

*Notes to Financial Statements (unaudited) - continued* 

between the fund and the lending agent. On loans collateralized by U.S. Treasury and/or federal agency obligations, a fee is received from the Borrower, and is allocated between the fund and the lending agent. Income from securities lending is separately reported in the Statement of Operations. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income.

**Indemnifications** — Under the fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into agreements with service providers that may contain indemnification clauses. The fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against the fund that have not yet occurred.

**Investment Transactions and Income** — Dividends received in cash are recorded on the ex-dividend date. Certain dividends from foreign securities will be recorded when the fund is informed of the dividend if such information is obtained subsequent to the ex-dividend date. Dividend payments received in additional securities are recorded on the ex-dividend date in an amount equal to the value of the security on such date.

The fund may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statement of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statement of Operations.

Investment transactions are recorded on the trade date. In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis.

**Fees Paid Indirectly** — The fund's custody fee may be reduced by a credit earned under an arrangement that measures the value of U.S. dollars deposited with the custodian by the fund. The amount of the credit, for the six months ended November 30, 2025, is shown as a reduction of total expenses in the Statement of Operations.

**Tax Matters and Distributions** — The fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. The fund's federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for generally a three year period. Management has analyzed the fund's tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability. Foreign taxes, if any, have been accrued by the fund in the accompanying financial statements in accordance with the applicable foreign tax law. Foreign income taxes may be withheld by certain countries in which the fund invests. Additionally, capital gains realized by the fund on securities issued in or by certain foreign countries may be subject to capital gains tax imposed by those countries.

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.

Book/tax differences primarily relate to passive foreign investment companies, wash sale loss deferrals and treating a portion of the proceeds from redemptions as a distribution for tax purposes.

The tax character of distributions declared to shareholders for the last fiscal year is as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**5/31/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $193847050 |
| Long-term capital gains | &nbsp;&nbsp; 228142831 |
| Total distributions | &nbsp;&nbsp; $421989881 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

------

MFS International Large Cap Value Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | |
|:---|:---|
| **As of 11/30/25** |  |
| Cost of investments | &nbsp;&nbsp; $4972661750 |
| Gross appreciation | &nbsp;&nbsp; 2621557479 |
| Gross depreciation | &nbsp;&nbsp; (253017663)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $2368539816 |
| **As of 5/31/25** |  |
| Undistributed ordinary income | &nbsp;&nbsp; 182707679 |
| Undistributed long-term capital gain | &nbsp;&nbsp; 147440805 |
| Other temporary differences | &nbsp;&nbsp; 2068068 |
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; 1826557953 |

---

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

**Multiple Classes of Shares of Beneficial Interest** — The fund offers multiple classes of shares, which differ in their respective distribution and service fees. The fund's income, realized and unrealized gain (loss), and common expenses are allocated to shareholders based on the daily net assets of each class. Dividends are declared separately for each class. Differences in per share dividend rates are generally due to differences in separate class expenses. Class C shares will convert to Class A shares approximately eight years after purchase. The fund's distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months** <br>**ended** <br>**11/30/25**<br>| **Year** <br>**ended** <br>**5/31/25**<br>|
| Class A | $— | &nbsp;&nbsp; $556791 |
| Class C |  | &nbsp;&nbsp; 47551 |
| Class I |  | &nbsp;&nbsp; 1211864 |
| Class R1 |  | &nbsp;&nbsp; 5854 |
| Class R2 |  | &nbsp;&nbsp; 6614 |
| Class R3 |  | &nbsp;&nbsp; 8659 |
| Class R4 |  | &nbsp;&nbsp; 7108 |
| Class R6 |  | &nbsp;&nbsp; 420145440 |
| Total | $— | &nbsp;&nbsp; $421989881 |

---

**(3) Transactions with Affiliates**

**Investment Adviser** — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. The management fee is computed daily and paid monthly at the following annual rates based on the fund's average daily net assets:

---

| | |
|:---|:---|
| Up to $2.5 billion | 0.75% |
| In excess of $2.5 billion and up to $5 billion | 0.70% |
| In excess of $5 billion and up to $10 billion | 0.65% |
| In excess of $10 billion and up to $20 billion | 0.62% |
| In excess of $20 billion | 0.60% |

---

MFS has agreed in writing to reduce its management fee by a specified amount if certain MFS mutual fund assets exceed thresholds agreed to by MFS and the fund's Board of Trustees. MFS has also agreed in writing to waive at least 0.01% of its management fee as part of this agreement. The agreement to waive at least 0.01% of the management fee will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this management fee reduction amounted to $501,254, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.69% of the fund's average daily net assets.

The investment adviser has agreed in writing to pay a portion of the fund's total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses do not exceed the following rates annually of each class's average daily net assets:

------

MFS International Large Cap Value Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classes** | **Classes** | **Classes** | **Classes** | **Classes** | **Classes** | **Classes** | **Classes** |
| **A** | **C** | **I** | **R1** | **R2** | **R3** | **R4** | **R6** |
| 0.96% | 1.71% | 0.71% | 1.71% | 1.21% | 0.96% | 0.71% | 0.67% |

---

This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until September 30, 2026. For the six months ended November 30, 2025, this reduction amounted to $1,512,034, which is included in the reduction of total expenses in the Statement of Operations.

**Distributor** — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received $3,971 for the six months ended November 30, 2025, as its portion of the initial sales charge on sales of Class A shares of the fund.

The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.

The fund's distribution plan provides that the fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries. The distribution and service fees are computed daily and paid monthly.

**Distribution Plan Fee Table:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Distribution** <br>**Fee Rate (d)**<br>| **Service** <br>**Fee Rate (d)**<br>| **Total** <br>**Distribution** <br>**Plan (d)**<br>| **Annual** <br>**Effective** <br>**Rate (e)**<br>| **Distribution** <br>**and Service** <br>**Fee**<br>|
| Class A |  | 0.25% | 0.25% | 0.25% | $20081 |
| Class C | 0.75% | 0.25% | 1.00% | 1.00% | 4712 |
| Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 636 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 336 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 220 |
| Total Distribution and Service Fees  |  |  |  |  | $25985 |

---

(d) In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each

class's average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting

period. Any rate changes, if applicable, are detailed below.

(e) The annual effective rates represent actual fees incurred under the distribution plan for the six months ended November 30, 2025 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. There were no service fee rebates for the six months ended November 30, 2025.

Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD and during the six months ended November 30, 2025, were as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| Class A | $15 |
| Class C | 741 |

---

**Shareholder Servicing Agent** — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from the fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of the fund as determined periodically under the supervision of the fund's Board of Trustees. For the six months ended November 30, 2025, the fee was $4,089, which equated to 0.0001% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the six months ended November 30, 2025, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $19,835.

**Administrator** — MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to the fund. Under an administrative services agreement, the fund reimburses MFS the costs incurred to provide these services. The fund is charged an annual fixed amount of $17,500 plus a fee based on average daily net assets. The administrative services fee is computed daily and paid monthly. The administrative services fee incurred for the six months ended November 30, 2025 was equivalent to an annual effective rate of 0.0076% of the fund's average daily net assets.

------

MFS International Large Cap Value Fund

*Notes to Financial Statements (unaudited) - continued* 

**Trustees' and Officers' Compensation** — The fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. Independent Trustees' compensation is accrued daily and paid subsequent to each Trustee Board meeting. The fund does not pay compensation directly to Trustees or officers of the fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to the fund. Certain officers and Trustees of the fund are officers or directors of MFS, MFD, and MFSC.

**Other** — The fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.

MFS purchased or redeemed fund shares on the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| 8/19/2024 | Redemption | Class A | 3 | $44 |
| 8/22/2024 | Redemption | Class I | 2 | 32 |

---

At November 30, 2025, MFS held approximately 97% and 73% of the outstanding shares of Class R2 and Class R3, respectively, and 100% of the outstanding shares of Class R1 and Class R4.

During the six months ended November 30, 2025, pursuant to a policy adopted by the Board of Trustees and designed to comply with Rule 17a-7 under the Investment Company Act of 1940 (the "Act") and relevant guidance, the fund engaged in sale transactions with funds and accounts for which MFS serves as investment adviser or sub-adviser ("cross-trades") which amounted to $3,262,163. The sales transactions resulted in net realized gains (losses) of $972,498.

**(4) Portfolio Securities**

For the six months ended November 30, 2025, purchases and sales of investments, other than short-term obligations, aggregated $714,143,100 and $1,031,613,555, respectively.

**(5) Shares of Beneficial Interest** 

The fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** <br>**11/30/25** | **Six months ended** <br>**11/30/25** | **Year ended** <br>**5/31/25** | **Year ended** <br>**5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 324709 | &nbsp;&nbsp; $5346953 | &nbsp;&nbsp; 333145 | &nbsp;&nbsp; $4776487 |
| Class C | 15221 | &nbsp;&nbsp; 248401 | &nbsp;&nbsp; 5707 | &nbsp;&nbsp; 82429 |
| Class I | 2415462 | &nbsp;&nbsp; 39612884 | &nbsp;&nbsp; 2431163 | &nbsp;&nbsp; 34466685 |
| Class R2 | 34 | &nbsp;&nbsp; 558 | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 1479 |
| Class R3 | 743 | &nbsp;&nbsp; 12514 | &nbsp;&nbsp; 2101 | &nbsp;&nbsp; 30100 |
| Class R6 | 517798 | &nbsp;&nbsp; 8441400 | &nbsp;&nbsp; 5704970 | &nbsp;&nbsp; 80815961 |
|  | 3273967 | &nbsp;&nbsp; $53662710 | &nbsp;&nbsp; 8477191 | &nbsp;&nbsp; $120173141 |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A |  | $— | &nbsp;&nbsp; 42341 | &nbsp;&nbsp; $556791 |
| Class C |  |  | &nbsp;&nbsp; 3624 | &nbsp;&nbsp; 47551 |
| Class I |  |  | &nbsp;&nbsp; 91612 | &nbsp;&nbsp; 1211112 |
| Class R1 |  |  | &nbsp;&nbsp; 445 | &nbsp;&nbsp; 5854 |
| Class R2 |  |  | &nbsp;&nbsp; 501 | &nbsp;&nbsp; 6614 |
| Class R3 |  |  | &nbsp;&nbsp; 657 | &nbsp;&nbsp; 8659 |
| Class R4 |  |  | &nbsp;&nbsp; 538 | &nbsp;&nbsp; 7108 |
| Class R6 |  |  | &nbsp;&nbsp; 31828504 | &nbsp;&nbsp; 419817963 |
|  |  | $— | &nbsp;&nbsp; 31968222 | &nbsp;&nbsp; $421661652 |

---

------

MFS International Large Cap Value Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **11/30/25** | **Six months ended**<br> **11/30/25** | **Year ended**<br> **5/31/25** | **Year ended**<br> **5/31/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares reacquired |  |  |  |  |
| Class A | (87711)<br>| &nbsp;&nbsp; $(1414472)<br>| &nbsp;&nbsp; (100036)<br>| &nbsp;&nbsp; $(1386553)<br>|
| Class C | (20075)<br>| &nbsp;&nbsp; (319434)<br>| &nbsp;&nbsp; (10680)<br>| &nbsp;&nbsp; (149565)<br>|
| Class I | (163049)<br>| &nbsp;&nbsp; (2771996)<br>| &nbsp;&nbsp; (363752)<br>| &nbsp;&nbsp; (5222809)<br>|
| Class R2 | (18)<br>| &nbsp;&nbsp; (285)<br>| &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; (7)<br>|
| Class R3 | (2)<br>| &nbsp;&nbsp; (38)<br>| &nbsp;&nbsp; (3)<br>| &nbsp;&nbsp; (40)<br>|
| Class R6 | (28097939)<br>| &nbsp;&nbsp; (474294740)<br>| &nbsp;&nbsp; (55341601)<br>| &nbsp;&nbsp; (789654413)<br>|
|  | (28368794)<br>| &nbsp;&nbsp; $(478800965)<br>| &nbsp;&nbsp; (55816073)<br>| &nbsp;&nbsp; $(796413387)<br>|
| Net change |  |  |  |  |
| Class A | 236998 | &nbsp;&nbsp; $3932481 | &nbsp;&nbsp; 275450 | &nbsp;&nbsp; $3946725 |
| Class C | (4854)<br>| &nbsp;&nbsp; (71033)<br>| &nbsp;&nbsp; (1349)<br>| &nbsp;&nbsp; (19585)<br>|
| Class I | 2252413 | &nbsp;&nbsp; 36840888 | &nbsp;&nbsp; 2159023 | &nbsp;&nbsp; 30454988 |
| Class R1 |  |  | &nbsp;&nbsp; 445 | &nbsp;&nbsp; 5854 |
| Class R2 | 16 | &nbsp;&nbsp; 273 | &nbsp;&nbsp; 605 | &nbsp;&nbsp; 8086 |
| Class R3 | 741 | &nbsp;&nbsp; 12476 | &nbsp;&nbsp; 2755 | &nbsp;&nbsp; 38719 |
| Class R4 |  |  | &nbsp;&nbsp; 538 | &nbsp;&nbsp; 7108 |
| Class R6 | (27580141)<br>| &nbsp;&nbsp; (465853340)<br>| &nbsp;&nbsp; (17808127)<br>| &nbsp;&nbsp; (289020489)<br>|
|  | (25094827)<br>| &nbsp;&nbsp; $(425138255)<br>| &nbsp;&nbsp; (15370660)<br>| &nbsp;&nbsp; $(254578594)<br>|

---

The fund is one of several mutual funds in which certain MFS funds may invest. The MFS funds do not invest in the underlying funds for the purpose of exercising management or control. At the end of the period, the MFS International Diversification Fund,the MFS Growth Allocation Fund, the MFS Aggressive Growth Allocation Fund, and the MFS Moderate Allocation Fund were the owners of record of approximately 90%, 3%, 2%, and 2%, respectively, of the value of outstanding voting shares of the fund. In addition, the MFS Conservative Allocation Fund was the owner of record of less than 1% of the value of outstanding voting shares of the fund.

**(6) Line of Credit**

The fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by the fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate) plus 0.10%, 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 12, 2026 unless extended or renewed. In addition, the fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the six months ended November 30, 2025, the fund's commitment fee and interest expense were $15,844 and $0, respectively, and are included in "Miscellaneous" expense in the Statement of Operations.

**(7) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the six months ended November 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Beginning** <br>**Value**<br>| **Purchases** | &nbsp;&nbsp; **Sales** <br>**Proceeds**<br>| &nbsp;&nbsp; **Realized** <br>**Gain** <br>**(Loss)**<br>| &nbsp;&nbsp; **Change in** <br>**Unrealized** <br>**Appreciation** <br> **or** <br>**Depreciation**<br>| &nbsp;&nbsp; **Ending** <br>**Value**<br>|
| MFS Institutional Money Market <br> Portfolio<br>| &nbsp;&nbsp; $98523082 | &nbsp;&nbsp; $583781772 | &nbsp;&nbsp; $615106876 | &nbsp;&nbsp; $4439 | &nbsp;&nbsp; $6954 | &nbsp;&nbsp; $67209371 |

---

------

MFS International Large Cap Value Fund

*Notes to Financial Statements (unaudited) - continued* 

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; $1599882 | $— |

---

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS International Large Cap Value Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS International Large Cap Value Fund.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

This information is disclosed as part of the financial statements included in Item 7 above for MFS International Large Cap Value Fund. See the Statement of Operations and Note 3 within the Notes to Financial Statements for more information.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

------

MFS International Large Cap Value Fund

**Board Review of Investment Advisory Agreement**

**MFS International Large Cap Value Fund**

The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested ("independent") Trustees, voting separately, annually approve the continuation of the Fund's investment advisory agreement with MFS. The Trustees consider matters bearing on the Fund and its advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2025 ("contract review meetings") for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Fund and the other investment companies that the Board oversees (the "MFS Funds"). The independent Trustees were assisted in their evaluation of the Fund's investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.

In connection with their deliberations regarding the continuation of the investment advisory agreement, the Trustees, including the independent Trustees, considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The investment advisory agreement for the Fund was considered separately, although the Trustees also took into account the common interests of all MFS Funds in their review. As described below, the Trustees considered the nature, quality, and extent of the various investment advisory, administrative, and shareholder services performed by MFS under the existing investment advisory agreement and other arrangements with the Fund.

In connection with their contract review meetings, the Trustees received and relied upon materials that included, among other items: (i) information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent third party, on the investment performance of the Fund for various time periods ended December 31, 2024 and the investment performance of a group of funds with substantially similar investment classifications/objectives (the "Broadridge performance universe"), (ii) information provided by Broadridge on the Fund's advisory fees and other expenses and the advisory fees and other expenses of comparable funds identified by Broadridge as well as all other funds in the same investment classification/category (the "Broadridge expense group and universe"), (iii) information provided by MFS on the advisory fees of portfolios of other clients of MFS, including institutional separate accounts and other clients, (iv) information as to whether and to what extent applicable expense waivers, reimbursements or fee "breakpoints" are observed for the Fund, (v) information regarding MFS' financial results and financial condition, including MFS' and certain of its affiliates' estimated profitability from services performed for the Fund and the MFS Funds as a whole, and compared to MFS' institutional business, (vi) MFS' views regarding the outlook for the mutual fund industry and the strategic business plans of MFS, (vii) descriptions of various functions performed by MFS for the Funds, such as compliance monitoring and portfolio trading practices, and (viii) information regarding the overall organization of MFS, including information about MFS' senior management and other personnel providing investment advisory, administrative and other services to the Fund and the other MFS Funds. The comparative performance, fee and expense information prepared and provided by Broadridge was not independently verified and the independent Trustees did not independently verify any information provided to them by MFS.

The Trustees' conclusion as to the continuation of the investment advisory agreement was based on a comprehensive consideration of all information provided to the Trustees and not the result of any single factor. Some of the factors that figured particularly in the Trustees' deliberations are described below, although individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. It is also important to recognize that the fee arrangements for the Fund and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees' conclusions may be based, in part, on their consideration of these same arrangements during the course of the year and in prior years.

Based on information provided by Broadridge and MFS, the Trustees reviewed the Fund's total return investment performance as well as the Broadridge performance universe over various time periods. The Trustees placed particular emphasis on the total return performance of the Fund's Class I shares in comparison to the performance of funds in its Broadridge performance universe over the three-year period ended December 31, 2024, which the Trustees believed was a long enough period to reflect differing market conditions. The total return performance of the Fund's Class I common shares was in the 2nd quintile relative to the other funds in the universe for the three- and one-year periods (the 1st quintile being the best performers and the 5th quintile being the worst performers). The Fund commenced operations on June 30, 2020; therefore, no performance data for the five-year period was available. Because of the passage of time, these performance results may differ from the performance results for more recent periods, including those shown elsewhere in this report.

------

MFS International Large Cap Value Fund

*Board Review of Investment Advisory Agreement - continued*

In the course of their deliberations, the Trustees took into account information provided by MFS in connection with the contract review meetings, as well as during investment review meetings conducted with portfolio management personnel during the course of the year regarding the Fund's performance. After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that they were satisfied with MFS' responses and efforts relating to investment performance.

In assessing the reasonableness of the Fund's advisory fee, the Trustees considered, among other information, the Fund's advisory fee and the total expense ratio of the Fund's Class I shares as a percentage of average daily net assets and the advisory fee and total expense ratios of the Broadridge expense group based on information provided by Broadridge. The Trustees considered that MFS currently observes an expense limitation for the Fund, which may not be changed without the Trustees' approval. The Trustees also considered that, according to the data provided by Broadridge (which takes into account any fee reductions or expense limitations that were in effect during the Fund's last fiscal year), the Fund's effective advisory fee rate and total expense ratio were each lower than the Broadridge expense group median.

The Trustees also considered the advisory fees charged by MFS to any institutional separate accounts advised by MFS ("separate accounts") and unaffiliated investment companies for which MFS serves as subadviser ("subadvised funds") that have comparable investment strategies to the Fund, if any. In comparing these fees, the Trustees considered information provided by MFS as to the generally broader scope of services provided by MFS to the Fund, as well as the more extensive regulatory burdens imposed on MFS in managing the Fund, in comparison to separate accounts and subadvised funds. The Trustees also considered the higher demands placed on MFS' investment personnel and trading infrastructure as a result of the daily cash in-flows and out-flows of the Fund in comparison to separate accounts.

The Trustees also considered whether the Fund may benefit from any economies of scale in the management of the Fund in the event of growth in assets of the Fund and/or growth in assets of the MFS Funds as a whole. They noted that the Fund's advisory fee rate schedule is subject to contractual breakpoints that reduce the Fund's advisory fee rate on average daily net assets over $2.5 billion, $5 billion, $10 billion, and $20 billion. The Trustees also noted that MFS has agreed in writing to waive a portion of the management fees of certain MFS Funds, including the Fund, if the total combined assets of certain funds within the MFS Funds' complex increase above agreed upon thresholds (the "group fee waiver"), enabling the Fund's shareholders to share in the benefits from any economies of scale at the complex level. The group fee waiver is reviewed and renewed annually between the Board and MFS. The Trustees concluded that the breakpoints and the group fee waiver were sufficient to allow the Fund to benefit from economies of scale as its assets and overall complex assets grow.

The Trustees also considered information prepared by MFS relating to MFS' costs and profits with respect to the Fund, the MFS Funds considered as a group, and other investment companies and accounts advised by MFS, as well as MFS' methodologies used to determine and allocate its costs to the MFS Funds, the Fund and other accounts and products for purposes of estimating profitability.

After reviewing these and other factors described herein, the Trustees concluded, within the context of their overall conclusions regarding the investment advisory agreement, that the advisory fees charged to the Fund represent reasonable compensation in light of the services being provided by MFS to the Fund.

In addition, the Trustees considered MFS' resources and related efforts to continue to retain, attract and motivate capable personnel to serve the Fund. The Trustees also considered current and developing conditions in the financial services industry, including the presence of large and well-capitalized companies which are spending, and appear to be prepared to continue to spend, substantial sums to engage personnel and to provide services to competing investment companies. In this regard, the Trustees also considered the financial resources of MFS and its ultimate parent, Sun Life Financial Inc. The Trustees also considered the advantages and possible disadvantages to the Fund of having an adviser that also serves other investment companies as well as other accounts.

The Trustees also considered the nature, quality, cost, and extent of administrative, transfer agency, and distribution services provided to the Fund by MFS and its affiliates under agreements and plans other than the investment advisory agreement, including any 12b-1 fees the Fund pays to MFS Fund Distributors, Inc., an affiliate of MFS. The Trustees also considered the nature, extent and quality of certain other services MFS performs or arranges for on the Fund's behalf, which may include securities lending programs, directed expense payment programs, class action recovery programs, and MFS' interaction with third-party service providers, principally custodians and sub-custodians. The Trustees concluded that the various non-advisory services provided by MFS and its affiliates on behalf of the Fund were satisfactory.

The Trustees considered so-called "fall-out benefits" to MFS such as reputational value derived from serving as investment manager to the MFS Funds. The Trustees also considered that MFS discontinued its historic practice of obtaining investment research from portfolio brokerage commissions paid by certain MFS Funds effective January 2018, and directly pays or voluntarily reimburses a Fund, if applicable, for the costs of external research acquired through the use of the Fund's portfolio brokerage commissions.

------

MFS International Large Cap Value Fund

*Board Review of Investment Advisory Agreement - continued*

Based on their evaluation of factors that they deemed to be material, including those factors described above, the Board of Trustees, including the independent Trustees, concluded that the Fund's investment advisory agreement with MFS should be continued for an additional one-year period, commencing August 1, 2025.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable to the Registrant.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
There were no material changes to the procedures by which shareholders may send recommendations to the Board for nominees to the Registrant's Board since the Registrant last provided disclosure as to such procedures in response to the requirements of Item 407 (c)(2)(iv) of Regulation S-K or this Item.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITEM 16. CONTROLS AND PROCEDURES.
* Based upon their evaluation of the effectiveness of the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "Act")) as conducted within 90 days of the filing date of this report on Form N-CSR, the Registrant's principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the Registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms. 

* There were no changes in the Registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by the report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting. 

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.
Not applicable to the Registrant.

------

#### ITEM 19. EXHIBITS.
* Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable.

* Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the registrant's securities are listed. Not applicable.

* A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2): Attached hereto as [EX-99.302CERT](f43911d2.htm).

* Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable.

* Change in the registrant's independent public accountant. Not applicable.

* If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed "filed" for the purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference. Attached hereto as [EX-99.906CERT](f43911d3.htm).

------

#### Notice
A copy of the Amended and Restated Declaration of Trust, as amended, of the Registrant is on file with the Secretary of State of The Commonwealth of Massachusetts and notice is hereby given that this instrument is executed on behalf of the Registrant by an officer of the Registrant as an officer and not individually and the obligations of or arising out of this instrument are not binding upon any of the Trustees or shareholders individually, but are binding only upon the assets and property of the respective constituent series of the Registrant.

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) MFS SERIES TRUST X

By (Signature and Title)\*

/S/ DAVID L. DILORENZO

David L. DiLorenzo, President

Date: January 14, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)\*

/S/ DAVID L. DILORENZO

David L. DiLorenzo, President (Principal Executive Officer)

Date: January 14, 2026

By (Signature and Title)\*

/S/ KASEY L. PHILLIPS&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Kasey L. Phillips, Treasurer (Principal Financial Officer and Accounting Officer)

Date: January 14, 2026

\* Print name and title of each signing officer under his or her signature.

------

## Ex-99.Cert

**<u>EX-99.302CERT</u>**

**MFS SERIES TRUST X**

**Certification Pursuant to Section 302 of the Sarbanes-Oxley Act**

I, David L. DiLorenzo, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this report on Form N-CSR of MFS Series Trust X;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by the report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: January 14, 2026

<u>/S/ DAVID L. DILORENZO</u>

David L. DiLorenzo

President (Principal Executive Officer)

**<u>EX-99.302CERT</u>**

**MFS SERIES TRUST X**

**Certification Pursuant to Section 302 of the Sarbanes-Oxley Act**

I, Kasey L. Phillips, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this report on Form N-CSR of MFS Series Trust X;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by the report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: January 14, 2026

<u>/S/ KASEY L. PHILLIPS</u>

Kasey L. Phillips

Treasurer (Principal Financial Officer and Accounting Officer)

------

## Exhibit 99.906

**<u>EX-99.906CERT</u>**

**MFS SERIES TRUST X**

**Certification Pursuant to Section 906 of the Sarbanes-Oxley Act**

I, David L. DiLorenzo, certify that, to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.The Form N-CSR (the "Report") of MFS Series Trust X (the "Registrant") fully complies for the period covered by the Report with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: January 14, 2026

<u>/S/ DAVID L. DILORENZO</u>

David L. DiLorenzo

President (Principal Executive Officer)

**A signed original of this written statement required by Section 906 has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission or its staff upon request.**

**<u>EX-99.906CERT</u>**

**MFS SERIES TRUST X**

**Certification Pursuant to Section 906 of the Sarbanes-Oxley Act**

I, Kasey L. Phillips, certify that, to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.The Form N-CSR (the "Report") of MFS Series Trust X (the "Registrant") fully complies for the period covered by the Report with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: January 14, 2026

<u>/S/ KASEY L. PHILLIPS</u>

Kasey L. Phillips

Treasurer (Principal Financial Officer and Accounting Officer)

**A signed original of this written statement required by Section 906 has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission or its staff upon request.**

------