# EDGAR Filing Document

**Accession Number:** 0000356349
**File Stem:** 0000356349-26-000006
**Filing Date:** 2026-4
**Character Count:** 708713
**Document Hash:** 6cf6f2a758c3e3e502b10e633420653d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000356349-26-000006.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0000356349-26-000006

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 45

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**EFFECTIVENESS DATE**: 20260428

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS SERIES TRUST XIII
- **CENTRAL INDEX KEY:** 0000356349

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03327
- **FILM NUMBER:** 26903233

**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 SECURITIES FUND
- **DATE OF NAME CHANGE:** 19930408

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS GOVERNMENT GUARANTEED SECURITIES TRUST
- **DATE OF NAME CHANGE:** 19910522

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WORKING CAPITAL TRUST
- **DATE OF NAME CHANGE:** 19840529

## Series and Classes Contracts Data

### MFS Government Securities Fund (Series ID: S000000693)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000002006 | I            | MGSIX           |
| C000002007 | A            | MFGSX           |
| C000002008 | R4           | MFGJX           |
| C000002012 | B            | MFGBX           |
| C000002013 | C            | MFGDX           |
| C000002015 | R1           | MFGGX           |
| C000002017 | R2           | MGVSX           |
| C000002018 | R3           | MFGHX           |
| C000117927 | R6           | MFGKX           |

### MFS Diversified Income Fund (Series ID: S000012219)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000033358 | A            | DIFAX           |
| C000033359 | C            | DIFCX           |
| C000033360 | I            | DIFIX           |
| C000068409 | R1           | DIFDX           |
| C000068410 | R2           | DIFEX           |
| C000068411 | R3           | DIFFX           |
| C000068412 | R4           | DIFGX           |
| C000117928 | R6           | DIFHX           |

### MFS New Discovery Value Fund (Series ID: S000032712)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000100956 | A            | NDVAX           |
| C000100957 | B            | NDVBX           |
| C000100958 | C            | NDVCX           |
| C000100959 | I            | NDVIX           |
| C000100960 | R1           | NDVRX           |
| C000100961 | R2           | NDVSX           |
| C000100962 | R3           | NDVTX           |
| C000100963 | R4           | NDVUX           |
| C000117930 | R6           | NDVVX           |

?xml version='1.0' encoding='ASCII'? cec39848-e6f9-490c-a417-cd7fbb4ca654

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

#### &nbsp;&nbsp;&nbsp;&nbsp; FORM N-CSR

------

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

#### Investment Company Act file number

#### 811-03327

#### MFS SERIES TRUST XIII
(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:

#### February 28\*

#### Date of reporting period:

#### February 28, 2026
\*This Form N-CSR pertains to the following series of the Registrant: MFS Diversified Income Fund, MFS Government Securities Fund and MFS New Discovery Value Fund. The remaining series of the Registrant has a fiscal year end other than February 28.

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

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> Diversified Income Fund
![TSR_Ribbon_red](images_1218.jpg)

Class A-DIFAX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Diversified Income Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 ~ |
| A | $94 | 0.89% |

---

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

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* The MFS Diversified Income Fund (fund) includes investments in lower quality debt instruments, U.S. government securities, emerging market debt instruments, dividend-paying equity securities, and real estate-related instruments.

* For the twelve months ended February 28, 2026, Class A shares of the fund provided a total return of 11.09%, at net asset value. This compares with a return of 16.99% for the fund's benchmark, the Standard & Poor's 500 Stock Index. The fund's other benchmark, the MFS Diversified Income Fund Blended Index (Blended Index), generated a return of 11.87%. The Blended Index reflects the blended returns of broad asset class indices, with percentage allocations to each index designed to resemble the broad asset class allocations of the fund. The market indices and related percentage allocations used to compile the Blended Index are set forth under Fund Performance.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the MFS Diversified Income Fund Blended Index:

The fund's overweight allocation and security selection within the global high dividend segment strengthened relative returns.

Security selection and an underweight allocation to the high yield corporates segment also benefited relative results.

* Top detractors from performance relative to the MFS Diversified Income Fund Blended Index:

Security selection within the REITS segment weighed on the fund's relative returns.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class A over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests. This graph includes the deduction of the maximum applicable sales charge.

![Fund Performance - Growth of 10K](chartimages_2310365.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| A without sales charge | 11.09% | 4.45% | 5.59% |
| A with initial sales charge (4.25%) | 6.37% | 3.55% | 5.13% |
| **Comparative Benchmark(s)** |  |  |  |
| Standard & Poor's 500 Stock Index ∆ | 16.99% | 14.19% | 15.50% |
| MFS Diversified Income Fund Blended Index ∆ | 11.87% | 5.03% | 6.19% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

If the 1-year without sales charge return included adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles, the return would be 11.00%.

The MFS Diversified Income Fund Blended Index (a custom index) was comprised of the following at the end of the reporting period:

---

| | |
|:---|:---|
|  | **2/28/26** |
| Bloomberg U.S. Corporate High-Yield 2% Issuer Capped Index | 25.00% |
| MSCI All Country World (ACWI) High Dividend Yield Index | 20.00% |
| Bloomberg U.S. Credit Index | 15.00% |
| JPMorgan Emerging Markets Bond Index Global Diversified | 15.00% |
| MSCI US REIT Index | 15.00% |
| Bloomberg U.S. Government/Mortgage Index | 10.00% |

---

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/a for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 1877496274 | Total Management Fee ($)#: | 10172783 |
| Total Number of Holdings: | 1334 | Portfolio Turnover Rate (%): | 43 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income ~ | 62.1% |
| Equities | 36.4% |
| Money Market Funds | 1.3% |
| Purchased Options | 0.2% |

---

**Equity sectors**

---

| | |
|:---|:---|
| Real Estate | 12.7% |
| Consumer Staples | 3.9% |
| Financials | 3.7% |
| Health Care | 3.5% |
| Industrials | 2.7% |
| Energy | 2.4% |
| Information Technology | 2.0% |
| Consumer Discretionary | 1.9% |
| Utilities | 1.6% |
| Communication Services | 1.2% |
| Materials | 0.7% |
| Index Options | 0.1% |
| Equity Options | 0.1% |
| Convertible Debt | 0.1% |
| Equity Warrants | 0.0% |

---

**Composition including fixed income credit quality**

---

| | |
|:---|:---|
| AAA | 1.2% |
| AA | 1.3% |
| A | 7.6% |
| BBB | 12.6% |
| BB | 15.0% |
| B | 10.1% |
| CCC | 3.5% |
| CC | 0.0% |
| C | 0.1% |
| U.S. Government | 4.6% |
| Federal Agencies | 5.7% |
| Not Rated | 0.4% |
| Non-Fixed Income | 36.6% |
| Money Market Funds | 1.3% |

---

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.

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

~ The fund invests a portion of its assets in Exchange-Traded Funds (ETFs) or Options on ETFs to gain fixed income exposure. Percentages include the direct exposure from investing in ETFs or Options on ETFs and not the indirect exposure to the underlying holdings.

The fund invests a portion of its assets in the MFS High Yield Pooled Portfolio. Percentages include the indirect exposure to the underlying holdings of the MFS High Yield Pooled Portfolio and not the direct exposure from investing in the MFS High Yield Pooled Portfolio itself.

#### 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.

DIFA-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> Diversified Income Fund
![TSR_Ribbon_red](images_1218.jpg)

Class C-DIFCX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Diversified Income Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 ~ |
| C | $172 | 1.64% |

---

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

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* The MFS Diversified Income Fund (fund) includes investments in lower quality debt instruments, U.S. government securities, emerging market debt instruments, dividend-paying equity securities, and real estate-related instruments.

* For the twelve months ended February 28, 2026, Class C shares of the fund provided a total return of 10.18%, at net asset value. This compares with a return of 16.99% for the fund's benchmark, the Standard & Poor's 500 Stock Index. The fund's other benchmark, the MFS Diversified Income Fund Blended Index (Blended Index), generated a return of 11.87%. The Blended Index reflects the blended returns of broad asset class indices, with percentage allocations to each index designed to resemble the broad asset class allocations of the fund. The market indices and related percentage allocations used to compile the Blended Index are set forth under Fund Performance.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the MFS Diversified Income Fund Blended Index:

The fund's overweight allocation and security selection within the global high dividend segment strengthened relative returns.

Security selection and an underweight allocation to the high yield corporates segment also benefited relative results.

* Top detractors from performance relative to the MFS Diversified Income Fund Blended Index:

Security selection within the REITS segment weighed on the fund's relative returns.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class C over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2309624.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| C without sales charge | 10.18% | 3.66% | 4.80% |
| C with CDSC (1% for 12 months)<sup>×</sup> | 9.18% | 3.66% | 4.80% |
| **Comparative Benchmark(s)** |  |  |  |
| Standard & Poor's 500 Stock Index ∆ | 16.99% | 14.19% | 15.50% |
| MFS Diversified Income Fund Blended Index ∆ | 11.87% | 5.03% | 6.19% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc. <br> <sup>×</sup> Assuming redemption at the end of the applicable period.

CDSC – Contingent Deferred Sales Charge.

The MFS Diversified Income Fund Blended Index (a custom index) was comprised of the following at the end of the reporting period:

---

| | |
|:---|:---|
|  | **2/28/26** |
| Bloomberg U.S. Corporate High-Yield 2% Issuer Capped Index | 25.00% |
| MSCI All Country World (ACWI) High Dividend Yield Index | 20.00% |
| Bloomberg U.S. Credit Index | 15.00% |
| JPMorgan Emerging Markets Bond Index Global Diversified | 15.00% |
| MSCI US REIT Index | 15.00% |
| Bloomberg U.S. Government/Mortgage Index | 10.00% |

---

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/c for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 1877496274 | Total Management Fee ($)#: | 10172783 |
| Total Number of Holdings: | 1334 | Portfolio Turnover Rate (%): | 43 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income ~ | 62.1% |
| Equities | 36.4% |
| Money Market Funds | 1.3% |
| Purchased Options | 0.2% |

---

**Equity sectors**

---

| | |
|:---|:---|
| Real Estate | 12.7% |
| Consumer Staples | 3.9% |
| Financials | 3.7% |
| Health Care | 3.5% |
| Industrials | 2.7% |
| Energy | 2.4% |
| Information Technology | 2.0% |
| Consumer Discretionary | 1.9% |
| Utilities | 1.6% |
| Communication Services | 1.2% |
| Materials | 0.7% |
| Index Options | 0.1% |
| Equity Options | 0.1% |
| Convertible Debt | 0.1% |
| Equity Warrants | 0.0% |

---

**Composition including fixed income credit quality**

---

| | |
|:---|:---|
| AAA | 1.2% |
| AA | 1.3% |
| A | 7.6% |
| BBB | 12.6% |
| BB | 15.0% |
| B | 10.1% |
| CCC | 3.5% |
| CC | 0.0% |
| C | 0.1% |
| U.S. Government | 4.6% |
| Federal Agencies | 5.7% |
| Not Rated | 0.4% |
| Non-Fixed Income | 36.6% |
| Money Market Funds | 1.3% |

---

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.

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

~ The fund invests a portion of its assets in Exchange-Traded Funds (ETFs) or Options on ETFs to gain fixed income exposure. Percentages include the direct exposure from investing in ETFs or Options on ETFs and not the indirect exposure to the underlying holdings.

The fund invests a portion of its assets in the MFS High Yield Pooled Portfolio. Percentages include the indirect exposure to the underlying holdings of the MFS High Yield Pooled Portfolio and not the direct exposure from investing in the MFS High Yield Pooled Portfolio itself.

#### 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.

DIFC-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> Diversified Income Fund
![TSR_Ribbon_red](images_1218.jpg)

Class I-DIFIX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Diversified Income Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 ~ |
| I | $68 | 0.64% |

---

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

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* The MFS Diversified Income Fund (fund) includes investments in lower quality debt instruments, U.S. government securities, emerging market debt instruments, dividend-paying equity securities, and real estate-related instruments.

* For the twelve months ended February 28, 2026, Class I shares of the fund provided a total return of 11.27%, at net asset value. This compares with a return of 16.99% for the fund's benchmark, the Standard & Poor's 500 Stock Index. The fund's other benchmark, the MFS Diversified Income Fund Blended Index (Blended Index), generated a return of 11.87%. The Blended Index reflects the blended returns of broad asset class indices, with percentage allocations to each index designed to resemble the broad asset class allocations of the fund. The market indices and related percentage allocations used to compile the Blended Index are set forth under Fund Performance.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the MFS Diversified Income Fund Blended Index:

The fund's overweight allocation and security selection within the global high dividend segment strengthened relative returns.

Security selection and an underweight allocation to the high yield corporates segment also benefited relative results.

* Top detractors from performance relative to the MFS Diversified Income Fund Blended Index:

Security selection within the REITS segment weighed on the fund's relative returns.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class I over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2309799.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| I without sales charge | 11.27% | 4.70% | 5.85% |
| **Comparative Benchmark(s)** |  |  |  |
| Standard & Poor's 500 Stock Index ∆ | 16.99% | 14.19% | 15.50% |
| MFS Diversified Income Fund Blended Index ∆ | 11.87% | 5.03% | 6.19% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

If the 1-year without sales charge return included adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles, the return would be 11.37%.

The MFS Diversified Income Fund Blended Index (a custom index) was comprised of the following at the end of the reporting period:

---

| | |
|:---|:---|
|  | **2/28/26** |
| Bloomberg U.S. Corporate High-Yield 2% Issuer Capped Index | 25.00% |
| MSCI All Country World (ACWI) High Dividend Yield Index | 20.00% |
| Bloomberg U.S. Credit Index | 15.00% |
| JPMorgan Emerging Markets Bond Index Global Diversified | 15.00% |
| MSCI US REIT Index | 15.00% |
| Bloomberg U.S. Government/Mortgage Index | 10.00% |

---

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/i for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 1877496274 | Total Management Fee ($)#: | 10172783 |
| Total Number of Holdings: | 1334 | Portfolio Turnover Rate (%): | 43 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income ~ | 62.1% |
| Equities | 36.4% |
| Money Market Funds | 1.3% |
| Purchased Options | 0.2% |

---

**Equity sectors**

---

| | |
|:---|:---|
| Real Estate | 12.7% |
| Consumer Staples | 3.9% |
| Financials | 3.7% |
| Health Care | 3.5% |
| Industrials | 2.7% |
| Energy | 2.4% |
| Information Technology | 2.0% |
| Consumer Discretionary | 1.9% |
| Utilities | 1.6% |
| Communication Services | 1.2% |
| Materials | 0.7% |
| Index Options | 0.1% |
| Equity Options | 0.1% |
| Convertible Debt | 0.1% |
| Equity Warrants | 0.0% |

---

**Composition including fixed income credit quality**

---

| | |
|:---|:---|
| AAA | 1.2% |
| AA | 1.3% |
| A | 7.6% |
| BBB | 12.6% |
| BB | 15.0% |
| B | 10.1% |
| CCC | 3.5% |
| CC | 0.0% |
| C | 0.1% |
| U.S. Government | 4.6% |
| Federal Agencies | 5.7% |
| Not Rated | 0.4% |
| Non-Fixed Income | 36.6% |
| Money Market Funds | 1.3% |

---

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.

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

~ The fund invests a portion of its assets in Exchange-Traded Funds (ETFs) or Options on ETFs to gain fixed income exposure. Percentages include the direct exposure from investing in ETFs or Options on ETFs and not the indirect exposure to the underlying holdings.

The fund invests a portion of its assets in the MFS High Yield Pooled Portfolio. Percentages include the indirect exposure to the underlying holdings of the MFS High Yield Pooled Portfolio and not the direct exposure from investing in the MFS High Yield Pooled Portfolio itself.

#### 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.

DIFI-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

MFS<sup>®</sup> Diversified

Income Fund

![TSR_Ribbon_red](images_1218.jpg)

Class R1-DIFDX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Diversified Income Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 ~ |
| R1 | $172 | 1.64% |

---

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

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* The MFS Diversified Income Fund (fund) includes investments in lower quality debt instruments, U.S. government securities, emerging market debt instruments, dividend-paying equity securities, and real estate-related instruments.

* For the twelve months ended February 28, 2026, Class R1 shares of the fund provided a total return of 10.19%, at net asset value. This compares with a return of 16.99% for the fund's benchmark, the Standard & Poor's 500 Stock Index. The fund's other benchmark, the MFS Diversified Income Fund Blended Index (Blended Index), generated a return of 11.87%. The Blended Index reflects the blended returns of broad asset class indices, with percentage allocations to each index designed to resemble the broad asset class allocations of the fund. The market indices and related percentage allocations used to compile the Blended Index are set forth under Fund Performance.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the MFS Diversified Income Fund Blended Index:

The fund's overweight allocation and security selection within the global high dividend segment strengthened relative returns.

Security selection and an underweight allocation to the high yield corporates segment also benefited relative results.

* Top detractors from performance relative to the MFS Diversified Income Fund Blended Index:

Security selection within the REITS segment weighed on the fund's relative returns.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R1 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2309812.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R1 without sales charge | 10.19% | 3.66% | 4.80% |
| **Comparative Benchmark(s)** |  |  |  |
| Standard & Poor's 500 Stock Index ∆ | 16.99% | 14.19% | 15.50% |
| MFS Diversified Income Fund Blended Index ∆ | 11.87% | 5.03% | 6.19% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

The MFS Diversified Income Fund Blended Index (a custom index) was comprised of the following at the end of the reporting period:

---

| | |
|:---|:---|
|  | **2/28/26** |
| Bloomberg U.S. Corporate High-Yield 2% Issuer Capped Index | 25.00% |
| MSCI All Country World (ACWI) High Dividend Yield Index | 20.00% |
| Bloomberg U.S. Credit Index | 15.00% |
| JPMorgan Emerging Markets Bond Index Global Diversified | 15.00% |
| MSCI US REIT Index | 15.00% |
| Bloomberg U.S. Government/Mortgage Index | 10.00% |

---

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r1 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 1877496274 | Total Management Fee ($)#: | 10172783 |
| Total Number of Holdings: | 1334 | Portfolio Turnover Rate (%): | 43 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income ~ | 62.1% |
| Equities | 36.4% |
| Money Market Funds | 1.3% |
| Purchased Options | 0.2% |

---

**Equity sectors**

---

| | |
|:---|:---|
| Real Estate | 12.7% |
| Consumer Staples | 3.9% |
| Financials | 3.7% |
| Health Care | 3.5% |
| Industrials | 2.7% |
| Energy | 2.4% |
| Information Technology | 2.0% |
| Consumer Discretionary | 1.9% |
| Utilities | 1.6% |
| Communication Services | 1.2% |
| Materials | 0.7% |
| Index Options | 0.1% |
| Equity Options | 0.1% |
| Convertible Debt | 0.1% |
| Equity Warrants | 0.0% |

---

**Composition including fixed income credit quality** 

---

| | |
|:---|:---|
| AAA | 1.2% |
| AA | 1.3% |
| A | 7.6% |
| BBB | 12.6% |
| BB | 15.0% |
| B | 10.1% |
| CCC | 3.5% |
| CC | 0.0% |
| C | 0.1% |
| U.S. Government | 4.6% |
| Federal Agencies | 5.7% |
| Not Rated | 0.4% |
| Non-Fixed Income | 36.6% |
| Money Market Funds | 1.3% |

---

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.

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

~ The fund invests a portion of its assets in Exchange-Traded Funds (ETFs) or Options on ETFs to gain fixed income exposure. Percentages include the direct exposure from investing in ETFs or Options on ETFs and not the indirect exposure to the underlying holdings.

The fund invests a portion of its assets in the MFS High Yield Pooled Portfolio. Percentages include the indirect exposure to the underlying holdings of the MFS High Yield Pooled Portfolio and not the direct exposure from investing in the MFS High Yield Pooled Portfolio itself.

#### 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.

DIFR1-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

MFS<sup>®</sup> Diversified

Income Fund

![TSR_Ribbon_red](images_1218.jpg)

Class R2-DIFEX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Diversified Income Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 ~ |
| R2 | $120 | 1.14% |

---

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

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* The MFS Diversified Income Fund (fund) includes investments in lower quality debt instruments, U.S. government securities, emerging market debt instruments, dividend-paying equity securities, and real estate-related instruments.

* For the twelve months ended February 28, 2026, Class R2 shares of the fund provided a total return of 10.73%, at net asset value. This compares with a return of 16.99% for the fund's benchmark, the Standard & Poor's 500 Stock Index. The fund's other benchmark, the MFS Diversified Income Fund Blended Index (Blended Index), generated a return of 11.87%. The Blended Index reflects the blended returns of broad asset class indices, with percentage allocations to each index designed to resemble the broad asset class allocations of the fund. The market indices and related percentage allocations used to compile the Blended Index are set forth under Fund Performance.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the MFS Diversified Income Fund Blended Index:

The fund's overweight allocation and security selection within the global high dividend segment strengthened relative returns.

Security selection and an underweight allocation to the high yield corporates segment also benefited relative results.

* Top detractors from performance relative to the MFS Diversified Income Fund Blended Index:

Security selection within the REITS segment weighed on the fund's relative returns.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R2 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2309987.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R2 without sales charge | 10.73% | 4.18% | 5.32% |
| **Comparative Benchmark(s)** |  |  |  |
| Standard & Poor's 500 Stock Index ∆ | 16.99% | 14.19% | 15.50% |
| MFS Diversified Income Fund Blended Index ∆ | 11.87% | 5.03% | 6.19% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

If the 1-year without sales charge return included adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles, the return would be 10.82%.

The MFS Diversified Income Fund Blended Index (a custom index) was comprised of the following at the end of the reporting period:

---

| | |
|:---|:---|
|  | **2/28/26** |
| Bloomberg U.S. Corporate High-Yield 2% Issuer Capped Index | 25.00% |
| MSCI All Country World (ACWI) High Dividend Yield Index | 20.00% |
| Bloomberg U.S. Credit Index | 15.00% |
| JPMorgan Emerging Markets Bond Index Global Diversified | 15.00% |
| MSCI US REIT Index | 15.00% |
| Bloomberg U.S. Government/Mortgage Index | 10.00% |

---

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r2 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 1877496274 | Total Management Fee ($)#: | 10172783 |
| Total Number of Holdings: | 1334 | Portfolio Turnover Rate (%): | 43 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income ~ | 62.1% |
| Equities | 36.4% |
| Money Market Funds | 1.3% |
| Purchased Options | 0.2% |

---

**Equity sectors**

---

| | |
|:---|:---|
| Real Estate | 12.7% |
| Consumer Staples | 3.9% |
| Financials | 3.7% |
| Health Care | 3.5% |
| Industrials | 2.7% |
| Energy | 2.4% |
| Information Technology | 2.0% |
| Consumer Discretionary | 1.9% |
| Utilities | 1.6% |
| Communication Services | 1.2% |
| Materials | 0.7% |
| Index Options | 0.1% |
| Equity Options | 0.1% |
| Convertible Debt | 0.1% |
| Equity Warrants | 0.0% |

---

**Composition including fixed income credit quality** 

---

| | |
|:---|:---|
| AAA | 1.2% |
| AA | 1.3% |
| A | 7.6% |
| BBB | 12.6% |
| BB | 15.0% |
| B | 10.1% |
| CCC | 3.5% |
| CC | 0.0% |
| C | 0.1% |
| U.S. Government | 4.6% |
| Federal Agencies | 5.7% |
| Not Rated | 0.4% |
| Non-Fixed Income | 36.6% |
| Money Market Funds | 1.3% |

---

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.

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

~ The fund invests a portion of its assets in Exchange-Traded Funds (ETFs) or Options on ETFs to gain fixed income exposure. Percentages include the direct exposure from investing in ETFs or Options on ETFs and not the indirect exposure to the underlying holdings.

The fund invests a portion of its assets in the MFS High Yield Pooled Portfolio. Percentages include the indirect exposure to the underlying holdings of the MFS High Yield Pooled Portfolio and not the direct exposure from investing in the MFS High Yield Pooled Portfolio itself.

#### 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.

DIFR2-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

MFS<sup>®</sup> Diversified

Income Fund

![TSR_Ribbon_red](images_1218.jpg)

Class R3-DIFFX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Diversified Income Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 ~ |
| R3 | $94 | 0.89% |

---

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

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* The MFS Diversified Income Fund (fund) includes investments in lower quality debt instruments, U.S. government securities, emerging market debt instruments, dividend-paying equity securities, and real estate-related instruments.

* For the twelve months ended February 28, 2026, Class R3 shares of the fund provided a total return of 11.00%, at net asset value. This compares with a return of 16.99% for the fund's benchmark, the Standard & Poor's 500 Stock Index. The fund's other benchmark, the MFS Diversified Income Fund Blended Index (Blended Index), generated a return of 11.87%. The Blended Index reflects the blended returns of broad asset class indices, with percentage allocations to each index designed to resemble the broad asset class allocations of the fund. The market indices and related percentage allocations used to compile the Blended Index are set forth under Fund Performance.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the MFS Diversified Income Fund Blended Index:

The fund's overweight allocation and security selection within the global high dividend segment strengthened relative returns.

Security selection and an underweight allocation to the high yield corporates segment also benefited relative results.

* Top detractors from performance relative to the MFS Diversified Income Fund Blended Index:

Security selection within the REITS segment weighed on the fund's relative returns.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R3 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2310000.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R3 without sales charge | 11.00% | 4.43% | 5.59% |
| **Comparative Benchmark(s)** |  |  |  |
| Standard & Poor's 500 Stock Index ∆ | 16.99% | 14.19% | 15.50% |
| MFS Diversified Income Fund Blended Index ∆ | 11.87% | 5.03% | 6.19% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

If the 1-year without sales charge return included adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles, the return would be 11.09%.

The MFS Diversified Income Fund Blended Index (a custom index) was comprised of the following at the end of the reporting period:

---

| | |
|:---|:---|
|  | **2/28/26** |
| Bloomberg U.S. Corporate High-Yield 2% Issuer Capped Index | 25.00% |
| MSCI All Country World (ACWI) High Dividend Yield Index | 20.00% |
| Bloomberg U.S. Credit Index | 15.00% |
| JPMorgan Emerging Markets Bond Index Global Diversified | 15.00% |
| MSCI US REIT Index | 15.00% |
| Bloomberg U.S. Government/Mortgage Index | 10.00% |

---

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r3 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 1877496274 | Total Management Fee ($)#: | 10172783 |
| Total Number of Holdings: | 1334 | Portfolio Turnover Rate (%): | 43 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income ~ | 62.1% |
| Equities | 36.4% |
| Money Market Funds | 1.3% |
| Purchased Options | 0.2% |

---

**Equity sectors**

---

| | |
|:---|:---|
| Real Estate | 12.7% |
| Consumer Staples | 3.9% |
| Financials | 3.7% |
| Health Care | 3.5% |
| Industrials | 2.7% |
| Energy | 2.4% |
| Information Technology | 2.0% |
| Consumer Discretionary | 1.9% |
| Utilities | 1.6% |
| Communication Services | 1.2% |
| Materials | 0.7% |
| Index Options | 0.1% |
| Equity Options | 0.1% |
| Convertible Debt | 0.1% |
| Equity Warrants | 0.0% |

---

**Composition including fixed income credit quality** 

---

| | |
|:---|:---|
| AAA | 1.2% |
| AA | 1.3% |
| A | 7.6% |
| BBB | 12.6% |
| BB | 15.0% |
| B | 10.1% |
| CCC | 3.5% |
| CC | 0.0% |
| C | 0.1% |
| U.S. Government | 4.6% |
| Federal Agencies | 5.7% |
| Not Rated | 0.4% |
| Non-Fixed Income | 36.6% |
| Money Market Funds | 1.3% |

---

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.

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

~ The fund invests a portion of its assets in Exchange-Traded Funds (ETFs) or Options on ETFs to gain fixed income exposure. Percentages include the direct exposure from investing in ETFs or Options on ETFs and not the indirect exposure to the underlying holdings.

The fund invests a portion of its assets in the MFS High Yield Pooled Portfolio. Percentages include the indirect exposure to the underlying holdings of the MFS High Yield Pooled Portfolio and not the direct exposure from investing in the MFS High Yield Pooled Portfolio itself.

#### 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.

DIFR3-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> Diversified Income Fund
![TSR_Ribbon_red](images_1218.jpg)

Class R4-DIFGX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Diversified Income Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 ~ |
| R4 | $68 | 0.64% |

---

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

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* The MFS Diversified Income Fund (fund) includes investments in lower quality debt instruments, U.S. government securities, emerging market debt instruments, dividend-paying equity securities, and real estate-related instruments.

* For the twelve months ended February 28, 2026, Class R4 shares of the fund provided a total return of 11.28%, at net asset value. This compares with a return of 16.99% for the fund's benchmark, the Standard & Poor's 500 Stock Index. The fund's other benchmark, the MFS Diversified Income Fund Blended Index (Blended Index), generated a return of 11.87%. The Blended Index reflects the blended returns of broad asset class indices, with percentage allocations to each index designed to resemble the broad asset class allocations of the fund. The market indices and related percentage allocations used to compile the Blended Index are set forth under Fund Performance.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the MFS Diversified Income Fund Blended Index:

The fund's overweight allocation and security selection within the global high dividend segment strengthened relative returns.

Security selection and an underweight allocation to the high yield corporates segment also benefited relative results.

* Top detractors from performance relative to the MFS Diversified Income Fund Blended Index:

Security selection within the REITS segment weighed on the fund's relative returns.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R4 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2310175.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R4 without sales charge | 11.28% | 4.68% | 5.84% |
| **Comparative Benchmark(s)** |  |  |  |
| Standard & Poor's 500 Stock Index ∆ | 16.99% | 14.19% | 15.50% |
| MFS Diversified Income Fund Blended Index ∆ | 11.87% | 5.03% | 6.19% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

The MFS Diversified Income Fund Blended Index (a custom index) was comprised of the following at the end of the reporting period:

---

| | |
|:---|:---|
|  | **2/28/26** |
| Bloomberg U.S. Corporate High-Yield 2% Issuer Capped Index | 25.00% |
| MSCI All Country World (ACWI) High Dividend Yield Index | 20.00% |
| Bloomberg U.S. Credit Index | 15.00% |
| JPMorgan Emerging Markets Bond Index Global Diversified | 15.00% |
| MSCI US REIT Index | 15.00% |
| Bloomberg U.S. Government/Mortgage Index | 10.00% |

---

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r4 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 1877496274 | Total Management Fee ($)#: | 10172783 |
| Total Number of Holdings: | 1334 | Portfolio Turnover Rate (%): | 43 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income ~ | 62.1% |
| Equities | 36.4% |
| Money Market Funds | 1.3% |
| Purchased Options | 0.2% |

---

**Equity sectors**

---

| | |
|:---|:---|
| Real Estate | 12.7% |
| Consumer Staples | 3.9% |
| Financials | 3.7% |
| Health Care | 3.5% |
| Industrials | 2.7% |
| Energy | 2.4% |
| Information Technology | 2.0% |
| Consumer Discretionary | 1.9% |
| Utilities | 1.6% |
| Communication Services | 1.2% |
| Materials | 0.7% |
| Index Options | 0.1% |
| Equity Options | 0.1% |
| Convertible Debt | 0.1% |
| Equity Warrants | 0.0% |

---

**Composition including fixed income credit quality**

---

| | |
|:---|:---|
| AAA | 1.2% |
| AA | 1.3% |
| A | 7.6% |
| BBB | 12.6% |
| BB | 15.0% |
| B | 10.1% |
| CCC | 3.5% |
| CC | 0.0% |
| C | 0.1% |
| U.S. Government | 4.6% |
| Federal Agencies | 5.7% |
| Not Rated | 0.4% |
| Non-Fixed Income | 36.6% |
| Money Market Funds | 1.3% |

---

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.

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

~ The fund invests a portion of its assets in Exchange-Traded Funds (ETFs) or Options on ETFs to gain fixed income exposure. Percentages include the direct exposure from investing in ETFs or Options on ETFs and not the indirect exposure to the underlying holdings.

The fund invests a portion of its assets in the MFS High Yield Pooled Portfolio. Percentages include the indirect exposure to the underlying holdings of the MFS High Yield Pooled Portfolio and not the direct exposure from investing in the MFS High Yield Pooled Portfolio itself.

#### 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.

DIFR4-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> Diversified Income Fund
![TSR_Ribbon_red](images_1218.jpg)

Class R6-DIFHX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Diversified Income Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 ~ |
| R6 | $58 | 0.55% |

---

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

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* The MFS Diversified Income Fund (fund) includes investments in lower quality debt instruments, U.S. government securities, emerging market debt instruments, dividend-paying equity securities, and real estate-related instruments.

* For the twelve months ended February 28, 2026, Class R6 shares of the fund provided a total return of 11.38%, at net asset value. This compares with a return of 16.99% for the fund's benchmark, the Standard & Poor's 500 Stock Index. The fund's other benchmark, the MFS Diversified Income Fund Blended Index (Blended Index), generated a return of 11.87%. The Blended Index reflects the blended returns of broad asset class indices, with percentage allocations to each index designed to resemble the broad asset class allocations of the fund. The market indices and related percentage allocations used to compile the Blended Index are set forth under Fund Performance.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the MFS Diversified Income Fund Blended Index:

The fund's overweight allocation and security selection within the global high dividend segment strengthened relative returns.

Security selection and an underweight allocation to the high yield corporates segment also benefited relative results.

* Top detractors from performance relative to the MFS Diversified Income Fund Blended Index:

Security selection within the REITS segment weighed on the fund's relative returns.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R6 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2310188.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R6 without sales charge | 11.38% | 4.79% | 5.94% |
| **Comparative Benchmark(s)** |  |  |  |
| Standard & Poor's 500 Stock Index ∆ | 16.99% | 14.19% | 15.50% |
| MFS Diversified Income Fund Blended Index ∆ | 11.87% | 5.03% | 6.19% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

The MFS Diversified Income Fund Blended Index (a custom index) was comprised of the following at the end of the reporting period:

---

| | |
|:---|:---|
|  | **2/28/26** |
| Bloomberg U.S. Corporate High-Yield 2% Issuer Capped Index | 25.00% |
| MSCI All Country World (ACWI) High Dividend Yield Index | 20.00% |
| Bloomberg U.S. Credit Index | 15.00% |
| JPMorgan Emerging Markets Bond Index Global Diversified | 15.00% |
| MSCI US REIT Index | 15.00% |
| Bloomberg U.S. Government/Mortgage Index | 10.00% |

---

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r6 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 1877496274 | Total Management Fee ($)#: | 10172783 |
| Total Number of Holdings: | 1334 | Portfolio Turnover Rate (%): | 43 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income ~ | 62.1% |
| Equities | 36.4% |
| Money Market Funds | 1.3% |
| Purchased Options | 0.2% |

---

**Equity sectors**

---

| | |
|:---|:---|
| Real Estate | 12.7% |
| Consumer Staples | 3.9% |
| Financials | 3.7% |
| Health Care | 3.5% |
| Industrials | 2.7% |
| Energy | 2.4% |
| Information Technology | 2.0% |
| Consumer Discretionary | 1.9% |
| Utilities | 1.6% |
| Communication Services | 1.2% |
| Materials | 0.7% |
| Index Options | 0.1% |
| Equity Options | 0.1% |
| Convertible Debt | 0.1% |
| Equity Warrants | 0.0% |

---

**Composition including fixed income credit quality**

---

| | |
|:---|:---|
| AAA | 1.2% |
| AA | 1.3% |
| A | 7.6% |
| BBB | 12.6% |
| BB | 15.0% |
| B | 10.1% |
| CCC | 3.5% |
| CC | 0.0% |
| C | 0.1% |
| U.S. Government | 4.6% |
| Federal Agencies | 5.7% |
| Not Rated | 0.4% |
| Non-Fixed Income | 36.6% |
| Money Market Funds | 1.3% |

---

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.

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

~ The fund invests a portion of its assets in Exchange-Traded Funds (ETFs) or Options on ETFs to gain fixed income exposure. Percentages include the direct exposure from investing in ETFs or Options on ETFs and not the indirect exposure to the underlying holdings.

The fund invests a portion of its assets in the MFS High Yield Pooled Portfolio. Percentages include the indirect exposure to the underlying holdings of the MFS High Yield Pooled Portfolio and not the direct exposure from investing in the MFS High Yield Pooled Portfolio itself.

#### 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.

DIFR6-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> Government Securities Fund
![TSR_Ribbon_red](images_1218.jpg)

Class A-MFGSX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Government Securities Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| A | $78 | 0.76% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class A shares of the MFS Government Securities Fund (fund) provided a total return of 5.57%, at net asset value. This compares with a return of 6.26% for the fund's benchmark, the Bloomberg U.S. Aggregate Bond Index. The fund's other benchmark, the Bloomberg U.S. Government/Mortgage Index, generated a return of 6.08%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's underweight exposure to the treasury sector, and an overweight exposure to Agency MBS, specifically an out of benchmark exposure to collateralized mortgage obligations (CMO) aided relative performance.

The fund's yield curve positioning further supported the fund's relative returns.

* Top detractors from performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's shorter duration stance in interest rate swaps held back relative results as interest rates generally declined during the reporting period.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class A over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests. This graph includes the deduction of the maximum applicable sales charge.

![Fund Performance - Growth of 10K](chartimages_2310551.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| A without sales charge | 5.57% | (0.16)% | 0.98% |
| A with initial sales charge (4.25%) | 1.08% | (1.02)% | 0.55% |
| **Comparative Benchmark(s)** |  |  |  |
| Bloomberg U.S. Aggregate Bond Index ∆ | 6.26% | 0.42% | 1.97% |
| Bloomberg U.S. Government/Mortgage Index ∆ | 6.08% | 0.20% | 1.40% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/a for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2021981426 | Average Effective Maturity (yrs): | 5.6 |
| Total Number of Holdings: | 771 | Average Effective Duration (yrs): | 5.6 |
| Total Management Fee ($)#: | 7105080 |  |  |
| Portfolio Turnover Rate (%): | 139 |  |  |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income | 96.8% |
| Money Market Funds | 3.2% |
| Purchased Options | 0.0% |

---

**Composition including fixed income credit quality**

---

| | |
|:---|:---|
| AAA | 5.5% |
| AA | 1.5% |
| A | 0.2% |
| U.S. Government | 36.1% |
| Federal Agencies | 53.5% |
| Not Rated | 0.0% |
| Money Market Funds | 3.2% |

---

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

#### 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.

MFGA-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> Government Securities Fund
![TSR_Ribbon_red](images_1218.jpg)

Class B-MFGBX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Government Securities Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| B | $156 | 1.52% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class B shares of the MFS Government Securities Fund (fund) provided a total return of 4.79%, at net asset value. This compares with a return of 6.26% for the fund's benchmark, the Bloomberg U.S. Aggregate Bond Index. The fund's other benchmark, the Bloomberg U.S. Government/Mortgage Index, generated a return of 6.08%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's underweight exposure to the treasury sector, and an overweight exposure to Agency MBS, specifically an out of benchmark exposure to collateralized mortgage obligations (CMO) aided relative performance.

The fund's yield curve positioning further supported the fund's relative returns.

* Top detractors from performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's shorter duration stance in interest rate swaps held back relative results as interest rates generally declined during the reporting period.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class B over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2310376.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| B without sales charge | 4.79% | (0.91)% | 0.23% |
| B with CDSC (declining over six years from 4% to 0%)<sup>×</sup> | 0.79% | (1.27)% | 0.23% |
| **Comparative Benchmark(s)** |  |  |  |
| Bloomberg U.S. Aggregate Bond Index ∆ | 6.26% | 0.42% | 1.97% |
| Bloomberg U.S. Government/Mortgage Index ∆ | 6.08% | 0.20% | 1.40% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc. <br> <sup>×</sup> Assuming redemption at the end of the applicable period.

CDSC – Contingent Deferred Sales Charge.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/b for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2021981426 | Average Effective Maturity (yrs): | 5.6 |
| Total Number of Holdings: | 771 | Average Effective Duration (yrs): | 5.6 |
| Total Management Fee ($)#: | 7105080 |  |  |
| Portfolio Turnover Rate (%): | 139 |  |  |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income | 96.8% |
| Money Market Funds | 3.2% |
| Purchased Options | 0.0% |

---

**Composition including fixed income credit quality** 

---

| | |
|:---|:---|
| AAA | 5.5% |
| AA | 1.5% |
| A | 0.2% |
| U.S. Government | 36.1% |
| Federal Agencies | 53.5% |
| Not Rated | 0.0% |
| Money Market Funds | 3.2% |

---

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

#### 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.

MFGB-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> Government Securities Fund
![TSR_Ribbon_red](images_1218.jpg)

Class C-MFGDX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Government Securities Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| C | $155 | 1.51% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class C shares of the MFS Government Securities Fund (fund) provided a total return of 4.90%, at net asset value. This compares with a return of 6.26% for the fund's benchmark, the Bloomberg U.S. Aggregate Bond Index. The fund's other benchmark, the Bloomberg U.S. Government/Mortgage Index, generated a return of 6.08%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's underweight exposure to the treasury sector, and an overweight exposure to Agency MBS, specifically an out of benchmark exposure to collateralized mortgage obligations (CMO) aided relative performance.

The fund's yield curve positioning further supported the fund's relative returns.

* Top detractors from performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's shorter duration stance in interest rate swaps held back relative results as interest rates generally declined during the reporting period.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class C over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2310560.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| C without sales charge | 4.90% | (0.90)% | 0.23% |
| C with CDSC (1% for 12 months)<sup>×</sup> | 3.90% | (0.90)% | 0.23% |
| **Comparative Benchmark(s)** |  |  |  |
| Bloomberg U.S. Aggregate Bond Index ∆ | 6.26% | 0.42% | 1.97% |
| Bloomberg U.S. Government/Mortgage Index ∆ | 6.08% | 0.20% | 1.40% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc. <br> <sup>×</sup> Assuming redemption at the end of the applicable period.

CDSC – Contingent Deferred Sales Charge.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/c for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2021981426 | Average Effective Maturity (yrs): | 5.6 |
| Total Number of Holdings: | 771 | Average Effective Duration (yrs): | 5.6 |
| Total Management Fee ($)#: | 7105080 |  |  |
| Portfolio Turnover Rate (%): | 139 |  |  |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income | 96.8% |
| Money Market Funds | 3.2% |
| Purchased Options | 0.0% |

---

**Composition including fixed income credit quality** 

---

| | |
|:---|:---|
| AAA | 5.5% |
| AA | 1.5% |
| A | 0.2% |
| U.S. Government | 36.1% |
| Federal Agencies | 53.5% |
| Not Rated | 0.0% |
| Money Market Funds | 3.2% |

---

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

#### 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.

MFGC-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> Government Securities Fund
![TSR_Ribbon_red](images_1218.jpg)

Class I-MGSIX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Government Securities Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| I | $53 | 0.51% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class I shares of the MFS Government Securities Fund (fund) provided a total return of 5.95%, at net asset value. This compares with a return of 6.26% for the fund's benchmark, the Bloomberg U.S. Aggregate Bond Index. The fund's other benchmark, the Bloomberg U.S. Government/Mortgage Index, generated a return of 6.08%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's underweight exposure to the treasury sector, and an overweight exposure to Agency MBS, specifically an out of benchmark exposure to collateralized mortgage obligations (CMO) aided relative performance.

The fund's yield curve positioning further supported the fund's relative returns.

* Top detractors from performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's shorter duration stance in interest rate swaps held back relative results as interest rates generally declined during the reporting period.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class I over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2310739.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| I without sales charge | 5.95% | 0.09% | 1.23% |
| **Comparative Benchmark(s)** |  |  |  |
| Bloomberg U.S. Aggregate Bond Index ∆ | 6.26% | 0.42% | 1.97% |
| Bloomberg U.S. Government/Mortgage Index ∆ | 6.08% | 0.20% | 1.40% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/i for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2021981426 | Average Effective Maturity (yrs): | 5.6 |
| Total Number of Holdings: | 771 | Average Effective Duration (yrs): | 5.6 |
| Total Management Fee ($)#: | 7105080 |  |  |
| Portfolio Turnover Rate (%): | 139 |  |  |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income | 96.8% |
| Money Market Funds | 3.2% |
| Purchased Options | 0.0% |

---

**Composition including fixed income credit quality** 

---

| | |
|:---|:---|
| AAA | 5.5% |
| AA | 1.5% |
| A | 0.2% |
| U.S. Government | 36.1% |
| Federal Agencies | 53.5% |
| Not Rated | 0.0% |
| Money Market Funds | 3.2% |

---

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

#### 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.

MFGI-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> Government Securities Fund
![TSR_Ribbon_red](images_1218.jpg)

Class R1-MFGGX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Government Securities Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| R1 | $156 | 1.52% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class R1 shares of the MFS Government Securities Fund (fund) provided a total return of 4.79%, at net asset value. This compares with a return of 6.26% for the fund's benchmark, the Bloomberg U.S. Aggregate Bond Index. The fund's other benchmark, the Bloomberg U.S. Government/Mortgage Index, generated a return of 6.08%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's underweight exposure to the treasury sector, and an overweight exposure to Agency MBS, specifically an out of benchmark exposure to collateralized mortgage obligations (CMO) aided relative performance.

The fund's yield curve positioning further supported the fund's relative returns.

* Top detractors from performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's shorter duration stance in interest rate swaps held back relative results as interest rates generally declined during the reporting period.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R1 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2310755.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R1 without sales charge | 4.79% | (0.91)% | 0.23% |
| **Comparative Benchmark(s)** |  |  |  |
| Bloomberg U.S. Aggregate Bond Index ∆ | 6.26% | 0.42% | 1.97% |
| Bloomberg U.S. Government/Mortgage Index ∆ | 6.08% | 0.20% | 1.40% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r1 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2021981426 | Average Effective Maturity (yrs): | 5.6 |
| Total Number of Holdings: | 771 | Average Effective Duration (yrs): | 5.6 |
| Total Management Fee ($)#: | 7105080 |  |  |
| Portfolio Turnover Rate (%): | 139 |  |  |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income | 96.8% |
| Money Market Funds | 3.2% |
| Purchased Options | 0.0% |

---

**Composition including fixed income credit quality**

---

| | |
|:---|:---|
| AAA | 5.5% |
| AA | 1.5% |
| A | 0.2% |
| U.S. Government | 36.1% |
| Federal Agencies | 53.5% |
| Not Rated | 0.0% |
| Money Market Funds | 3.2% |

---

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

#### 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.

MFGR1-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

MFS<sup>®</sup> Government

Securities Fund

![TSR_Ribbon_red](images_1218.jpg)

Class R2-MGVSX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Government Securities Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| R2 | $105 | 1.02% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class R2 shares of the MFS Government Securities Fund (fund) provided a total return of 5.31%, at net asset value. This compares with a return of 6.26% for the fund's benchmark, the Bloomberg U.S. Aggregate Bond Index. The fund's other benchmark, the Bloomberg U.S. Government/Mortgage Index, generated a return of 6.08%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's underweight exposure to the treasury sector, and an overweight exposure to Agency MBS, specifically an out of benchmark exposure to collateralized mortgage obligations (CMO) aided relative performance.

The fund's yield curve positioning further supported the fund's relative returns.

* Top detractors from performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's shorter duration stance in interest rate swaps held back relative results as interest rates generally declined during the reporting period.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R2 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2310927.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R2 without sales charge | 5.31% | (0.41)% | 0.73% |
| **Comparative Benchmark(s)** |  |  |  |
| Bloomberg U.S. Aggregate Bond Index ∆ | 6.26% | 0.42% | 1.97% |
| Bloomberg U.S. Government/Mortgage Index ∆ | 6.08% | 0.20% | 1.40% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r2 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2021981426 | Average Effective Maturity (yrs): | 5.6 |
| Total Number of Holdings: | 771 | Average Effective Duration (yrs): | 5.6 |
| Total Management Fee ($)#: | 7105080 |  |  |
| Portfolio Turnover Rate (%): | 139 |  |  |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income | 96.8% |
| Money Market Funds | 3.2% |
| Purchased Options | 0.0% |

---

**Composition including fixed income credit quality**

---

| | |
|:---|:---|
| AAA | 5.5% |
| AA | 1.5% |
| A | 0.2% |
| U.S. Government | 36.1% |
| Federal Agencies | 53.5% |
| Not Rated | 0.0% |
| Money Market Funds | 3.2% |

---

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

#### 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.

MFGR2-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

MFS<sup>®</sup> Government

Securities Fund

![TSR_Ribbon_red](images_1218.jpg)

Class R3-MFGHX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Government Securities Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| R3 | $79 | 0.77% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class R3 shares of the MFS Government Securities Fund (fund) provided a total return of 5.69%, at net asset value. This compares with a return of 6.26% for the fund's benchmark, the Bloomberg U.S. Aggregate Bond Index. The fund's other benchmark, the Bloomberg U.S. Government/Mortgage Index, generated a return of 6.08%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's underweight exposure to the treasury sector, and an overweight exposure to Agency MBS, specifically an out of benchmark exposure to collateralized mortgage obligations (CMO) aided relative performance.

The fund's yield curve positioning further supported the fund's relative returns.

* Top detractors from performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's shorter duration stance in interest rate swaps held back relative results as interest rates generally declined during the reporting period.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R3 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2310941.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R3 without sales charge | 5.69% | (0.16)% | 0.98% |
| **Comparative Benchmark(s)** |  |  |  |
| Bloomberg U.S. Aggregate Bond Index ∆ | 6.26% | 0.42% | 1.97% |
| Bloomberg U.S. Government/Mortgage Index ∆ | 6.08% | 0.20% | 1.40% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r3 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2021981426 | Average Effective Maturity (yrs): | 5.6 |
| Total Number of Holdings: | 771 | Average Effective Duration (yrs): | 5.6 |
| Total Management Fee ($)#: | 7105080 |  |  |
| Portfolio Turnover Rate (%): | 139 |  |  |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income | 96.8% |
| Money Market Funds | 3.2% |
| Purchased Options | 0.0% |

---

**Composition including fixed income credit quality**

---

| | |
|:---|:---|
| AAA | 5.5% |
| AA | 1.5% |
| A | 0.2% |
| U.S. Government | 36.1% |
| Federal Agencies | 53.5% |
| Not Rated | 0.0% |
| Money Market Funds | 3.2% |

---

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

#### 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.

MFGR3-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> Government Securities Fund
![TSR_Ribbon_red](images_1218.jpg)

Class R4-MFGJX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Government Securities Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| R4 | $52 | 0.51% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class R4 shares of the MFS Government Securities Fund (fund) provided a total return of 5.83%, at net asset value. This compares with a return of 6.26% for the fund's benchmark, the Bloomberg U.S. Aggregate Bond Index. The fund's other benchmark, the Bloomberg U.S. Government/Mortgage Index, generated a return of 6.08%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's underweight exposure to the treasury sector, and an overweight exposure to Agency MBS, specifically an out of benchmark exposure to collateralized mortgage obligations (CMO) aided relative performance.

The fund's yield curve positioning further supported the fund's relative returns.

* Top detractors from performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's shorter duration stance in interest rate swaps held back relative results as interest rates generally declined during the reporting period.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R4 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2311117.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R4 without sales charge | 5.83% | 0.09% | 1.24% |
| **Comparative Benchmark(s)** |  |  |  |
| Bloomberg U.S. Aggregate Bond Index ∆ | 6.26% | 0.42% | 1.97% |
| Bloomberg U.S. Government/Mortgage Index ∆ | 6.08% | 0.20% | 1.40% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

If the 1-year without sales charge return included adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles, the return would be 5.95%.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r4 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2021981426 | Average Effective Maturity (yrs): | 5.6 |
| Total Number of Holdings: | 771 | Average Effective Duration (yrs): | 5.6 |
| Total Management Fee ($)#: | 7105080 |  |  |
| Portfolio Turnover Rate (%): | 139 |  |  |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income | 96.8% |
| Money Market Funds | 3.2% |
| Purchased Options | 0.0% |

---

**Composition including fixed income credit quality** 

---

| | |
|:---|:---|
| AAA | 5.5% |
| AA | 1.5% |
| A | 0.2% |
| U.S. Government | 36.1% |
| Federal Agencies | 53.5% |
| Not Rated | 0.0% |
| Money Market Funds | 3.2% |

---

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

#### 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.

MFGR4-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> Government Securities Fund
![TSR_Ribbon_red](images_1218.jpg)

Class R6-MFGKX

Annual Shareholder Report

This annual shareholder report contains important information about MFS Government Securities Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| R6 | $43 | 0.42% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class R6 shares of the MFS Government Securities Fund (fund) provided a total return of 5.93%, at net asset value. This compares with a return of 6.26% for the fund's benchmark, the Bloomberg U.S. Aggregate Bond Index. The fund's other benchmark, the Bloomberg U.S. Government/Mortgage Index, generated a return of 6.08%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's underweight exposure to the treasury sector, and an overweight exposure to Agency MBS, specifically an out of benchmark exposure to collateralized mortgage obligations (CMO) aided relative performance.

The fund's yield curve positioning further supported the fund's relative returns.

* Top detractors from performance relative to the Bloomberg U.S. Government/Mortgage Index:

The fund's shorter duration stance in interest rate swaps held back relative results as interest rates generally declined during the reporting period.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R6 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2311128.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R6 without sales charge | 5.93% | 0.19% | 1.34% |
| **Comparative Benchmark(s)** |  |  |  |
| Bloomberg U.S. Aggregate Bond Index ∆ | 6.26% | 0.42% | 1.97% |
| Bloomberg U.S. Government/Mortgage Index ∆ | 6.08% | 0.20% | 1.40% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r6 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2021981426 | Average Effective Maturity (yrs): | 5.6 |
| Total Number of Holdings: | 771 | Average Effective Duration (yrs): | 5.6 |
| Total Management Fee ($)#: | 7105080 |  |  |
| Portfolio Turnover Rate (%): | 139 |  |  |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

| | |
|:---|:---|
| Fixed Income | 96.8% |
| Money Market Funds | 3.2% |
| Purchased Options | 0.0% |

---

**Composition including fixed income credit quality** 

---

| | |
|:---|:---|
| AAA | 5.5% |
| AA | 1.5% |
| A | 0.2% |
| U.S. Government | 36.1% |
| Federal Agencies | 53.5% |
| Not Rated | 0.0% |
| Money Market Funds | 3.2% |

---

Ratings are assigned using Moody's, Fitch, and Standard & Poor's and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.

#### 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.

MFGR6-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> New Discovery Value Fund
![TSR_Ribbon_red](images_1218.jpg)

Class A-NDVAX

Annual Shareholder Report

This annual shareholder report contains important information about MFS New Discovery Value Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| A | $128 | 1.21% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class A shares of the MFS New Discovery Value Fund (fund) provided a total return of 10.80%, at net asset value. This compares with a return of 17.02% for the fund's benchmark, the Russell 3000<sup>®</sup> Index. The fund's other benchmark, the Russell 2000<sup>®</sup> Value Index, generated a return of 24.95%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Russell 2000<sup>®</sup> Value Index:

Security selection within the industrials sector benefited relative performance.

* Top detractors from performance relative to the Russell 2000<sup>®</sup> Value Index:

Stock selection within the health care and materials sectors held back relative results.

Security selection within the energy and consumer discretionary sectors also detracted from the fund's relative performance.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class A over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests. This graph includes the deduction of the maximum applicable sales charge.

![Fund Performance - Growth of 10K](chartimages_2311303.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| A without sales charge | 10.80% | 7.36% | 11.37% |
| A with initial sales charge (5.75%) | 4.43% | 6.10% | 10.72% |
| **Comparative Benchmark(s)** |  |  |  |
| Russell 3000<sup>®</sup> Index ∆ | 17.02% | 12.80% | 15.08% |
| Russell 2000<sup>®</sup> Value Index ∆ | 24.95% | 7.67% | 10.90% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

If the 1-year without sales charge return included adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles, the return would be 10.86%.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/a for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2737358846 | Total Management Fee ($)#: | 22577888 |
| Total Number of Holdings: | 136 | Portfolio Turnover Rate (%): | 47 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

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

---

**Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.0% |
| Industrials | 13.9% |
| Information Technology | 10.3% |
| Health Care | 9.7% |
| Consumer Discretionary | 8.5% |
| Materials | 8.4% |
| Energy | 7.9% |
| Real Estate | 7.4% |
| Utilities | 6.9% |
| Communication Services | 2.1% |
| Consumer Staples | 1.7% |

---

**Top ten holdings**

---

| | |
|:---|:---|
| Element Solutions, Inc. | 1.4% |
| Prosperity Bancshares, Inc. | 1.3% |
| Plains GP Holdings LP | 1.3% |
| Portland General Electric Co. | 1.2% |
| OR Royalties, Inc. | 1.2% |
| Columbia Banking System, Inc. | 1.2% |
| First Interstate BancSystem, Inc. | 1.2% |
| Timken Co. | 1.2% |
| Popular, Inc. | 1.2% |
| Nexstar Media Group, Inc. | 1.2% |

---

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.

NDVA-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> New Discovery Value Fund
![TSR_Ribbon_red](images_1218.jpg)

Class B-NDVBX

Annual Shareholder Report

This annual shareholder report contains important information about MFS New Discovery Value Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| B | $206 | 1.96% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class B shares of the MFS New Discovery Value Fund (fund) provided a total return of 10.02%, at net asset value. This compares with a return of 17.02% for the fund's benchmark, the Russell 3000<sup>®</sup> Index. The fund's other benchmark, the Russell 2000<sup>®</sup> Value Index, generated a return of 24.95%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Russell 2000<sup>®</sup> Value Index:

Security selection within the industrials sector benefited relative performance.

* Top detractors from performance relative to the Russell 2000<sup>®</sup> Value Index:

Stock selection within the health care and materials sectors held back relative results.

Security selection within the energy and consumer discretionary sectors also detracted from the fund's relative performance.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class B over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2311316.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| B without sales charge | 10.02% | 6.57% | 10.55% |
| B with CDSC (declining over six years from 4% to 0%)<sup>×</sup> | 6.04% | 6.27% | 10.55% |
| **Comparative Benchmark(s)** |  |  |  |
| Russell 3000® Index ∆ | 17.02% | 12.80% | 15.08% |
| Russell 2000® Value Index ∆ | 24.95% | 7.67% | 10.90% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc. <br> <sup>×</sup> Assuming redemption at the end of the applicable period.

CDSC – Contingent Deferred Sales Charge.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/b for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2737358846 | Total Management Fee ($)#: | 22577888 |
| Total Number of Holdings: | 136 | Portfolio Turnover Rate (%): | 47 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

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

---

**Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.0% |
| Industrials | 13.9% |
| Information Technology | 10.3% |
| Health Care | 9.7% |
| Consumer Discretionary | 8.5% |
| Materials | 8.4% |
| Energy | 7.9% |
| Real Estate | 7.4% |
| Utilities | 6.9% |
| Communication Services | 2.1% |
| Consumer Staples | 1.7% |

---

**Top ten holdings**

---

| | |
|:---|:---|
| Element Solutions, Inc. | 1.4% |
| Prosperity Bancshares, Inc. | 1.3% |
| Plains GP Holdings LP | 1.3% |
| Portland General Electric Co. | 1.2% |
| OR Royalties, Inc. | 1.2% |
| Columbia Banking System, Inc. | 1.2% |
| First Interstate BancSystem, Inc. | 1.2% |
| Timken Co. | 1.2% |
| Popular, Inc. | 1.2% |
| Nexstar Media Group, Inc. | 1.2% |

---

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.

NDVB-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> New Discovery Value Fund
![TSR_Ribbon_red](images_1218.jpg)

Class C-NDVCX

Annual Shareholder Report

This annual shareholder report contains important information about MFS New Discovery Value Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| C | $206 | 1.96% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class C shares of the MFS New Discovery Value Fund (fund) provided a total return of 9.95%, at net asset value. This compares with a return of 17.02% for the fund's benchmark, the Russell 3000<sup>®</sup> Index. The fund's other benchmark, the Russell 2000<sup>®</sup> Value Index, generated a return of 24.95%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Russell 2000<sup>®</sup> Value Index:

Security selection within the industrials sector benefited relative performance.

* Top detractors from performance relative to the Russell 2000® Value Index:

Stock selection within the health care and materials sectors held back relative results.

Security selection within the energy and consumer discretionary sectors also detracted from the fund's relative performance.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class C over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2311490.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| C without sales charge | 9.95% | 6.55% | 10.54% |
| C with CDSC (1% for 12 months)<sup>×</sup> | 8.96% | 6.55% | 10.54% |
| **Comparative Benchmark(s)** |  |  |  |
| Russell 3000® Index ∆ | 17.02% | 12.80% | 15.08% |
| Russell 2000<sup>®</sup> Value Index ∆ | 24.95% | 7.67% | 10.90% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc. <br> <sup>×</sup> Assuming redemption at the end of the applicable period.

CDSC – Contingent Deferred Sales Charge.

If the 1-year without sales charge return included adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles, the return would be 10.01%.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/c for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2737358846 | Total Management Fee ($)#: | 22577888 |
| Total Number of Holdings: | 136 | Portfolio Turnover Rate (%): | 47 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

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

---

**Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.0% |
| Industrials | 13.9% |
| Information Technology | 10.3% |
| Health Care | 9.7% |
| Consumer Discretionary | 8.5% |
| Materials | 8.4% |
| Energy | 7.9% |
| Real Estate | 7.4% |
| Utilities | 6.9% |
| Communication Services | 2.1% |
| Consumer Staples | 1.7% |

---

**Top ten holdings**

---

| | |
|:---|:---|
| Element Solutions, Inc. | 1.4% |
| Prosperity Bancshares, Inc. | 1.3% |
| Plains GP Holdings LP | 1.3% |
| Portland General Electric Co. | 1.2% |
| OR Royalties, Inc. | 1.2% |
| Columbia Banking System, Inc. | 1.2% |
| First Interstate BancSystem, Inc. | 1.2% |
| Timken Co. | 1.2% |
| Popular, Inc. | 1.2% |
| Nexstar Media Group, Inc. | 1.2% |

---

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.

NDVC-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> New Discovery Value Fund
![TSR_Ribbon_red](images_1218.jpg)

Class I-NDVIX

Annual Shareholder Report

This annual shareholder report contains important information about MFS New Discovery Value Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| I | $101 | 0.96% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class I shares of the MFS New Discovery Value Fund (fund) provided a total return of 11.12%, at net asset value. This compares with a return of 17.02% for the fund's benchmark, the Russell 3000<sup>®</sup> Index. The fund's other benchmark, the Russell 2000<sup>®</sup> Value Index, generated a return of 24.95%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Russell 2000<sup>®</sup> Value Index:

Security selection within the industrials sector benefited relative performance.

* Top detractors from performance relative to the Russell 2000<sup>®</sup> Value Index:

Stock selection within the health care and materials sectors held back relative results.

Security selection within the energy and consumer discretionary sectors also detracted from the fund's relative performance.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class I over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2311507.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| I without sales charge | 11.12% | 7.63% | 11.65% |
| **Comparative Benchmark(s)** |  |  |  |
| Russell 3000<sup>®</sup> Index ∆ | 17.02% | 12.80% | 15.08% |
| Russell 2000<sup>®</sup> Value Index ∆ | 24.95% | 7.67% | 10.90% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/i for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2737358846 | Total Management Fee ($)#: | 22577888 |
| Total Number of Holdings: | 136 | Portfolio Turnover Rate (%): | 47 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

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

---

**Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.0% |
| Industrials | 13.9% |
| Information Technology | 10.3% |
| Health Care | 9.7% |
| Consumer Discretionary | 8.5% |
| Materials | 8.4% |
| Energy | 7.9% |
| Real Estate | 7.4% |
| Utilities | 6.9% |
| Communication Services | 2.1% |
| Consumer Staples | 1.7% |

---

**Top ten holdings**

---

| | |
|:---|:---|
| Element Solutions, Inc. | 1.4% |
| Prosperity Bancshares, Inc. | 1.3% |
| Plains GP Holdings LP | 1.3% |
| Portland General Electric Co. | 1.2% |
| OR Royalties, Inc. | 1.2% |
| Columbia Banking System, Inc. | 1.2% |
| First Interstate BancSystem, Inc. | 1.2% |
| Timken Co. | 1.2% |
| Popular, Inc. | 1.2% |
| Nexstar Media Group, Inc. | 1.2% |

---

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.

NDVI-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> New Discovery Value Fund
![TSR_Ribbon_red](images_1218.jpg)

Class R1-NDVRX

Annual Shareholder Report

This annual shareholder report contains important information about MFS New Discovery Value Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| R1 | $206 | 1.96% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class R1 shares of the MFS New Discovery Value Fund (fund) provided a total return of 9.96%, at net asset value. This compares with a return of 17.02% for the fund's benchmark, the Russell 3000<sup>®</sup> Index. The fund's other benchmark, the Russell 2000<sup>®</sup> Value Index, generated a return of 24.95%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Russell 2000<sup>®</sup> Value Index:

Security selection within the industrials sector benefited relative performance.

* Top detractors from performance relative to the Russell 2000<sup>®</sup> Value Index:

Stock selection within the health care and materials sectors held back relative results.

Security selection within the energy and consumer discretionary sectors also detracted from the fund's relative performance.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R1 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2311678.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R1 without sales charge | 9.96% | 6.56% | 10.54% |
| **Comparative Benchmark(s)** |  |  |  |
| Russell 3000<sup>®</sup> Index ∆ | 17.02% | 12.80% | 15.08% |
| Russell 2000<sup>®</sup> Value Index ∆ | 24.95% | 7.67% | 10.90% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

If the 1-year without sales charge return included adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles, the return would be 10.03%.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r1 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2737358846 | Total Management Fee ($)#: | 22577888 |
| Total Number of Holdings: | 136 | Portfolio Turnover Rate (%): | 47 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

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

---

**Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.0% |
| Industrials | 13.9% |
| Information Technology | 10.3% |
| Health Care | 9.7% |
| Consumer Discretionary | 8.5% |
| Materials | 8.4% |
| Energy | 7.9% |
| Real Estate | 7.4% |
| Utilities | 6.9% |
| Communication Services | 2.1% |
| Consumer Staples | 1.7% |

---

**Top ten holdings**

---

| | |
|:---|:---|
| Element Solutions, Inc. | 1.4% |
| Prosperity Bancshares, Inc. | 1.3% |
| Plains GP Holdings LP | 1.3% |
| Portland General Electric Co. | 1.2% |
| OR Royalties, Inc. | 1.2% |
| Columbia Banking System, Inc. | 1.2% |
| First Interstate BancSystem, Inc. | 1.2% |
| Timken Co. | 1.2% |
| Popular, Inc. | 1.2% |
| Nexstar Media Group, Inc. | 1.2% |

---

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.

NDVR1-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> New Discovery Value Fund
![TSR_Ribbon_red](images_1218.jpg)

Class R2-NDVSX

Annual Shareholder Report

This annual shareholder report contains important information about MFS New Discovery Value Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| R2 | $154 | 1.46% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class R2 shares of the MFS New Discovery Value Fund (fund) provided a total return of 10.57%, at net asset value. This compares with a return of 17.02% for the fund's benchmark, the Russell 3000<sup>®</sup> Index. The fund's other benchmark, the Russell 2000<sup>®</sup> Value Index, generated a return of 24.95%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Russell 2000<sup>®</sup> Value Index:

Security selection within the industrials sector benefited relative performance.

* Top detractors from performance relative to the Russell 2000<sup>®</sup> Value Index:

Stock selection within the health care and materials sectors held back relative results.

Security selection within the energy and consumer discretionary sectors also detracted from the fund's relative performance.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R2 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2311695.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R2 without sales charge | 10.57% | 7.09% | 11.10% |
| **Comparative Benchmark(s)** |  |  |  |
| Russell 3000<sup>®</sup> Index ∆ | 17.02% | 12.80% | 15.08% |
| Russell 2000<sup>®</sup> Value Index ∆ | 24.95% | 7.67% | 10.90% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r2 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2737358846 | Total Management Fee ($)#: | 22577888 |
| Total Number of Holdings: | 136 | Portfolio Turnover Rate (%): | 47 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

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

---

**Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.0% |
| Industrials | 13.9% |
| Information Technology | 10.3% |
| Health Care | 9.7% |
| Consumer Discretionary | 8.5% |
| Materials | 8.4% |
| Energy | 7.9% |
| Real Estate | 7.4% |
| Utilities | 6.9% |
| Communication Services | 2.1% |
| Consumer Staples | 1.7% |

---

**Top ten holdings**

---

| | |
|:---|:---|
| Element Solutions, Inc. | 1.4% |
| Prosperity Bancshares, Inc. | 1.3% |
| Plains GP Holdings LP | 1.3% |
| Portland General Electric Co. | 1.2% |
| OR Royalties, Inc. | 1.2% |
| Columbia Banking System, Inc. | 1.2% |
| First Interstate BancSystem, Inc. | 1.2% |
| Timken Co. | 1.2% |
| Popular, Inc. | 1.2% |
| Nexstar Media Group, Inc. | 1.2% |

---

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.

NDVR2-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> New Discovery Value Fund
![TSR_Ribbon_red](images_1218.jpg)

Class R3-NDVTX

Annual Shareholder Report

This annual shareholder report contains important information about MFS New Discovery Value Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| R3 | $128 | 1.21% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class R3 shares of the MFS New Discovery Value Fund (fund) provided a total return of 10.84%, at net asset value. This compares with a return of 17.02% for the fund's benchmark, the Russell 3000<sup>®</sup> Index. The fund's other benchmark, the Russell 2000<sup>®</sup> Value Index, generated a return of 24.95%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Russell 2000<sup>®</sup> Value Index:

Security selection within the industrials sector benefited relative performance.

* Top detractors from performance relative to the Russell 2000<sup>®</sup> Value Index:

Stock selection within the health care and materials sectors held back relative results.

Security selection within the energy and consumer discretionary sectors also detracted from the fund's relative performance.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R3 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2311866.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R3 without sales charge | 10.84% | 7.37% | 11.38% |
| **Comparative Benchmark(s)** |  |  |  |
| Russell 3000<sup>®</sup> Index ∆ | 17.02% | 12.80% | 15.08% |
| Russell 2000<sup>®</sup> Value Index ∆ | 24.95% | 7.67% | 10.90% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r3 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2737358846 | Total Management Fee ($)#: | 22577888 |
| Total Number of Holdings: | 136 | Portfolio Turnover Rate (%): | 47 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

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

---

**Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.0% |
| Industrials | 13.9% |
| Information Technology | 10.3% |
| Health Care | 9.7% |
| Consumer Discretionary | 8.5% |
| Materials | 8.4% |
| Energy | 7.9% |
| Real Estate | 7.4% |
| Utilities | 6.9% |
| Communication Services | 2.1% |
| Consumer Staples | 1.7% |

---

**Top ten holdings**

---

| | |
|:---|:---|
| Element Solutions, Inc. | 1.4% |
| Prosperity Bancshares, Inc. | 1.3% |
| Plains GP Holdings LP | 1.3% |
| Portland General Electric Co. | 1.2% |
| OR Royalties, Inc. | 1.2% |
| Columbia Banking System, Inc. | 1.2% |
| First Interstate BancSystem, Inc. | 1.2% |
| Timken Co. | 1.2% |
| Popular, Inc. | 1.2% |
| Nexstar Media Group, Inc. | 1.2% |

---

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.

NDVR3-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> New Discovery Value Fund
![TSR_Ribbon_red](images_1218.jpg)

Class R4-NDVUX

Annual Shareholder Report

This annual shareholder report contains important information about MFS New Discovery Value Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| R4 | $101 | 0.96% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class R4 shares of the MFS New Discovery Value Fund (fund) provided a total return of 11.11%, at net asset value. This compares with a return of 17.02% for the fund's benchmark, the Russell 3000<sup>®</sup> Index. The fund's other benchmark, the Russell 2000<sup>®</sup> Value Index, generated a return of 24.95%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Russell 2000<sup>®</sup> Value Index:

Security selection within the industrials sector benefited relative performance.

* Top detractors from performance relative to the Russell 2000<sup>®</sup> Value Index:

Stock selection within the health care and materials sectors held back relative results.

Security selection within the energy and consumer discretionary sectors also detracted from the fund's relative performance.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R4 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2311881.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R4 without sales charge | 11.11% | 7.63% | 11.65% |
| **Comparative Benchmark(s)** |  |  |  |
| Russell 3000<sup>®</sup> Index ∆ | 17.02% | 12.80% | 15.08% |
| Russell 2000<sup>®</sup> Value Index ∆ | 24.95% | 7.67% | 10.90% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r4 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2737358846 | Total Management Fee ($)#: | 22577888 |
| Total Number of Holdings: | 136 | Portfolio Turnover Rate (%): | 47 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

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

---

**Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.0% |
| Industrials | 13.9% |
| Information Technology | 10.3% |
| Health Care | 9.7% |
| Consumer Discretionary | 8.5% |
| Materials | 8.4% |
| Energy | 7.9% |
| Real Estate | 7.4% |
| Utilities | 6.9% |
| Communication Services | 2.1% |
| Consumer Staples | 1.7% |

---

**Top ten holdings**

---

| | |
|:---|:---|
| Element Solutions, Inc. | 1.4% |
| Prosperity Bancshares, Inc. | 1.3% |
| Plains GP Holdings LP | 1.3% |
| Portland General Electric Co. | 1.2% |
| OR Royalties, Inc. | 1.2% |
| Columbia Banking System, Inc. | 1.2% |
| First Interstate BancSystem, Inc. | 1.2% |
| Timken Co. | 1.2% |
| Popular, Inc. | 1.2% |
| Nexstar Media Group, Inc. | 1.2% |

---

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.

NDVR4-ANN

![MFSLOGO_RED.EPS](images_1212.jpg)

## MFS<sup>®</sup> New Discovery Value Fund
![TSR_Ribbon_red](images_1218.jpg)

Class R6-NDVVX

Annual Shareholder Report

This annual shareholder report contains important information about MFS New Discovery Value Fund for the period of March 1, 2025 to February 28, 2026. 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 year?

---

| | | |
|:---|:---|:---|
| *(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 |
| R6 | $91 | 0.86% |

---

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE

* For the twelve months ended February 28, 2026, Class R6 shares of the MFS New Discovery Value Fund (fund) provided a total return of 11.27%, at net asset value. This compares with a return of 17.02% for the fund's benchmark, the Russell 3000<sup>®</sup> Index. The fund's other benchmark, the Russell 2000<sup>®</sup> Value Index, generated a return of 24.95%.

* Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event rattled markets at the end of the period as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports. During the period, a pro-growth tax and spending bill was signed into law in the US, while in Europe, renewed focus on defense and infrastructure spending brightened the economic outlook. In Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high, though enthusiasm moderated near the end of the period.

* Considerable progress was made in trade talks between the US and many major trading partners, with a fragile truce between the US and China extended through late 2026. While the US Supreme Court struck down part of the Trump administration's tariff strategy, the administration deployed other authorities to largely replace the ones that were ruled unconstitutional. 

* Moderating inflation pressures allowed many global central banks to ease monetary policy during the period. Amid a difficult policymaking environment and slower job growth, the Federal Reserve resumed easing policy in September and delivered quarter-point rate cuts in October and December before pausing.

* In fixed income markets, global bond yields peaked near the start of the reporting period, then gradually declined, ending the reporting period marginally lower than at the start of the period, while experiencing waves of volatility in between. Both credit spreads and US bond market volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index), ended near session lows after rising in April and May due to tariff concerns.

* Top contributors to performance relative to the Russell 2000<sup>®</sup> Value Index:

Security selection within the industrials sector benefited relative performance.

* Top detractors from performance relative to the Russell 2000<sup>®</sup> Value Index:

Stock selection within the health care and materials sectors held back relative results.

Security selection within the energy and consumer discretionary sectors also detracted from the fund's relative performance.

#### FUND PERFORMANCE
 ***The fund's past performance is not a good predictor of the fund's future performance.*** The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.

Growth of a Hypothetical $10,000 Investment

This graph shows the performance of a hypothetical $10,000 investment in Class R6 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests.

![Fund Performance - Growth of 10K](chartimages_2312056.jpg)

#### Average Annual Total Returns through 2/28/26
This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1-yr** | **5-yr** | **10-yr** |
| R6 without sales charge | 11.27% | 7.74% | 11.77% |
| **Comparative Benchmark(s)** |  |  |  |
| Russell 3000<sup>®</sup> Index ∆ | 17.02% | 12.80% | 15.08% |
| Russell 2000<sup>®</sup> Value Index ∆ | 24.95% | 7.67% | 10.90% |

---

<sup>∆</sup> Source: FactSet Research Systems Inc.

#### Notes to Fund Performance
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable.

From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.

Visit mfs.com/perf/r6 for more recent performance information.

FUND STATISTICS AS OF 2/28/26

---

| | | | |
|:---|:---|:---|:---|
| Net Assets ($): | 2737358846 | Total Management Fee ($)#: | 22577888 |
| Total Number of Holdings: | 136 | Portfolio Turnover Rate (%): | 47 |

---

*#* Includes the effect of any management fee waivers, if applicable.

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

PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 2/28/26)

**Portfolio structure**

---

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

---

**Equity sectors**

---

| | |
|:---|:---|
| Financials | 22.0% |
| Industrials | 13.9% |
| Information Technology | 10.3% |
| Health Care | 9.7% |
| Consumer Discretionary | 8.5% |
| Materials | 8.4% |
| Energy | 7.9% |
| Real Estate | 7.4% |
| Utilities | 6.9% |
| Communication Services | 2.1% |
| Consumer Staples | 1.7% |

---

**Top ten holdings**

---

| | |
|:---|:---|
| Element Solutions, Inc. | 1.4% |
| Prosperity Bancshares, Inc. | 1.3% |
| Plains GP Holdings LP | 1.3% |
| Portland General Electric Co. | 1.2% |
| OR Royalties, Inc. | 1.2% |
| Columbia Banking System, Inc. | 1.2% |
| First Interstate BancSystem, Inc. | 1.2% |
| Timken Co. | 1.2% |
| Popular, Inc. | 1.2% |
| Nexstar Media Group, Inc. | 1.2% |

---

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.

NDVR6-ANN

------

#### &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.
The Registrant has adopted a Code of Ethics (the "Code") pursuant to Section 406 of the Sarbanes-Oxley Act and as defined in Form N-CSR that applies to the Registrant's principal executive officer and principal financial and accounting officer. During the period covered by this report, the Registrant has not amended any provision in 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. A copy of the Code is attached hereto as EX-99.COE.

------

#### &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.
Messrs. Steven E. Buller and Clarence Otis, Jr. and Ms. Paula E. Smith, members of the Audit Committee, have been determined by the Board of Trustees in their reasonable business judgment to meet the definition of "audit committee financial expert" as such term is defined in Form N-CSR. In addition, Messrs. Buller and Otis and Ms. Smith are "independent" members of the Audit Committee (as such term has been defined by the Securities and Exchange Commission in regulations implementing Section 407 of the Sarbanes-Oxley Act of 2002). The Securities and Exchange Commission has stated that the designation of a person as an audit committee financial expert pursuant to this Item 3 on the Form N-CSR does not impose on such a person any duties, obligations or liability that are greater than the duties, obligations or liability imposed on such person as a member of the Audit Committee and the Board of Trustees in the absence of such designation or identification.

------

**ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.**

**Items 4(a) through 4(d) and 4(g):**

The Board of Trustees has appointed Deloitte & Touche LLP ("Deloitte") to serve as independent accountants to certain series of the Registrant and Ernst & Young LLP ("E&Y") to serve in the same capacity to certain other series of the Registrant (each a "Fund" and collectively the "Funds"). The tables below set forth the audit fees billed to each Fund as well as fees for non-audit services provided to each Fund and/or to each Fund's investment adviser, Massachusetts Financial Services Company ("MFS"), and to various entities either controlling, controlled by, or under common control with MFS that provide ongoing services to the Funds ("MFS Related Entities").

For the fiscal years ended February 28, 2026 and February 28, 2025, respectively, audit fees billed to each Fund by Deloitte and E&Y were as follows:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fees billed by Deloitte:** |  | &nbsp;&nbsp;&nbsp;**Audit Fees** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2026** | **2025** |
| &nbsp;&nbsp;MFS Government Securities Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71432 | 69375 |
| &nbsp;&nbsp;**Fees billed by E&Y:** |  | &nbsp;&nbsp;&nbsp;**Audit Fees** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2026** | **2025** |
| &nbsp;&nbsp;MFS Diversified Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77035 | 74815 |
| &nbsp;&nbsp;MFS New Discovery Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58154 | 58154 |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**135189** | **132969** |

---

For the fiscal years ended February 28, 2026 and February 28, 2025, respectively, fees billed by Deloitte and E&Y for audit-related, tax and other services provided to each Fund and for audit-related, tax and other services provided to MFS and MFS Related Entities were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;**Audit-Related Fees<sup>1</sup>** | &nbsp;&nbsp;**Audit-Related Fees<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Tax Fees<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Tax Fees<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**All Other Fees<sup>3</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**All Other Fees<sup>3</sup>** |
| &nbsp;&nbsp;**Fees billed by Deloitte:**<br>| **2026** | **2025** | **2026** | **2025** | **2026** | **2025** |
| &nbsp;&nbsp;To MFS Government | 0 | 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;0 | 0 | 0 |
| &nbsp;&nbsp;Securities Fund |  |  |  |  |  |  |
| &nbsp;&nbsp;**Fees billed by Deloitte:** | &nbsp;&nbsp;&nbsp;**Audit-Related Fees<sup>1</sup>** | &nbsp;&nbsp;&nbsp;**Audit-Related Fees<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Tax Fees<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Tax Fees<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**All Other Fees<sup>3</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**All Other Fees<sup>3</sup>** |
|  | **2026** | **2025** | **2026** | **2025** | **2026** | **2025** |
| &nbsp;&nbsp;To MFS and MFS Related |  |  |  |  |  |  |
| &nbsp;&nbsp;Entities of MFS Government | 0 | 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;0 | 217540 | 234973 |
| &nbsp;&nbsp;Securities Fund<sup>\*</sup> |  |  |  |  |  |  |
| &nbsp;&nbsp;**Fees billed by Deloitte:** |  |  | **Aggregate fees for non-audit services** | **Aggregate fees for non-audit services** | **Aggregate fees for non-audit services** | **Aggregate fees for non-audit services** |
|  |  |  | **2026** |  | **2025** |  |
| &nbsp;&nbsp;To MFS Government Securities Fund, MFS | &nbsp;&nbsp;To MFS Government Securities Fund, MFS |  | 217540 |  | 252900 |  |
| &nbsp;&nbsp;and MFS Related Entities<sup>#</sup> |  |  |  |  |  |  |
| &nbsp;&nbsp;**Fees billed by E&Y:** | &nbsp;&nbsp;**Audit-Related Fees<sup>1</sup>** | &nbsp;&nbsp;**Audit-Related Fees<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Tax Fees<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Tax Fees<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**All Other Fees<sup>4</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**All Other Fees<sup>4</sup>** |
|  | **2026** | **2025** | **2026** | **2025** | **2026** | **2025** |
| &nbsp;&nbsp;To MFS Diversified Income | 0 | 0 | 632 | &nbsp;&nbsp;&nbsp;&nbsp;660 | 0 | 0 |
| &nbsp;&nbsp;Fund |  |  |  |  |  |  |
| &nbsp;&nbsp;To MFS New Discovery | 0 | 0 | 632 | &nbsp;&nbsp;&nbsp;&nbsp;660 | 0 | 0 |
| &nbsp;&nbsp;Value Fund |  |  |  |  |  |  |
| &nbsp;&nbsp;**Total fees billed by E&Y** | **0** | **0** | **1264** | **1320** | **0** | **0** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**To above Funds** |  |  |  |  |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;**Audit-Related Fees<sup>1</sup>** | &nbsp;&nbsp;&nbsp;**Audit-Related Fees<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Tax Fees<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Tax Fees<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**All Other Fees<sup>4</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**All Other Fees<sup>4</sup>** |
| &nbsp;&nbsp;**Fees billed by E&Y:**<br>| **2026** | **2025** | **2026** | **2025** | **2026** | **2025** |
| &nbsp;&nbsp;To MFS and MFS Related |  |  |  |  |  |  |
| &nbsp;&nbsp;Entities of MFS Diversified | 0 | 0 | 0 | 0 | 245568 | 3600 |
| &nbsp;&nbsp;Income Fund\* |  |  |  |  |  |  |
| &nbsp;&nbsp;To MFS and MFS Related |  |  |  |  |  |  |
| &nbsp;&nbsp;Entities of MFS New | 0 | 0 | 0 | 0 | 245568 | 3600 |
| &nbsp;&nbsp;Discovery Value Fund\* |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aggregate fees for non-audit services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aggregate fees for non-audit services** |
| &nbsp;&nbsp;**Fees billed by E&Y:**<br>| **2026** | **2025** |
| &nbsp;&nbsp;To MFS Diversified Income Fund, MFS and | 392678 | 334251 |
| &nbsp;&nbsp;MFS Related Entities<sup>#</sup> |  |  |
| &nbsp;&nbsp;To MFS New Discovery Value Fund, MFS | 392678 | 334251 |
| &nbsp;&nbsp;and MFS Related Entities<sup>#</sup> |  |  |

---

\*This amount reflects the fees billed to MFS and MFS Related Entities for non-audit services relating directly to the operations and financial reporting of the Funds (portions of which services also related to the operations and financial reporting of other funds within the MFS Funds complex).

# This amount reflects the aggregate fees billed by Deloitte or E&Y, as the case may be, for non-audit services rendered to the Funds and for non-audit services rendered to MFS and the MFS Related Entities. If applicable the fees are converted to USD as of the payment date.

<sup>1</sup> The fees included under "Audit-Related Fees" are fees related to assurance and related services that are reasonably related to the performance of the audit or review of financial statements, but not reported under ''Audit Fees,'' including accounting consultations, agreed-upon procedure reports, attestation reports, comfort letters and internal control reviews.

<sup>2</sup> The fees included under "Tax Fees" are fees associated with tax compliance, tax advice and tax planning, including services relating to the filing or amendment of federal, state or local income tax returns, regulated investment company qualification reviews and tax distribution and analysis.

<sup>3</sup> The fees included under "All Other Fees" are fees for products and services provided by Deloitte other than those reported under "Audit Fees," "Audit-Related Fees" and "Tax Fees".

<sup>4</sup> The fees included under "All Other Fees" are fees for products and services provided by E&Y other than those reported under "Audit Fees," "Audit-Related Fees" and "Tax Fees".

**Item 4(e)(1):**

Set forth below are the policies and procedures established by the Audit Committee of the Board of Trustees relating to the pre-approval of audit and non-audit related services:

To the extent required by applicable law, pre-approval by the Audit Committee of the Board is needed for all audit and permissible non-audit services rendered to the Funds and all permissible non-audit services rendered to MFS or MFS Related Entities if the services relate directly to the operations and financial reporting of the Registrant. Pre-approval is currently on an engagement-by-engagement basis. In the event pre-approval of such services is necessary between regular meetings of the Audit Committee and it is not practical to wait to seek pre-approval at the next regular meeting of the Audit Committee, pre-approval of such services may be referred to the Chair of the Audit Committee for approval; provided that the Chair may not pre-approve any individual engagement for such services exceeding $50,000 or multiple engagements for such services in the aggregate exceeding $100,000 in each period between regular meetings of the Audit Committee. Any engagement pre-approved by the Chair between regular meetings of the Audit Committee shall be presented for ratification by the entire Audit Committee at its next regularly scheduled meeting.

**Item 4(e)(2):**

None, or 0%, of the services relating to the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund and MFS and MFS Related Entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of

Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).

**Item 4(f):**

Not applicable.

**Item 4(h):**

The Registrant's Audit Committee has considered whether the provision by a Registrant's independent registered public accounting firm of non-audit services to MFS and MFS Related Entities that were not pre- approved by the Committee (because such services did not relate directly to the operations and financial reporting of the Registrant) was compatible with maintaining the independence of the independent registered public accounting firm as the Registrant's principal auditors.

**Item 4(i):**

Not applicable.

**Item 4(j):**

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 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.

------

MFS Diversified Income Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS Diversified Income Fund

**Portfolio of Investments - 2/28/26** 

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 – 40.7% | Bonds – 40.7% | Bonds – 40.7% |
| Aerospace & Defense – 0.3% | Aerospace & Defense – 0.3% | Aerospace & Defense – 0.3% |
| Boeing Co., 5.15%, 5/01/2030  | $561000 | &nbsp;&nbsp; $581050 |
| Boeing Co., 5.805%, 5/01/2050  | 2114000 | &nbsp;&nbsp; 2122541 |
| Czechoslovak Group A.S., 6.5%, 1/10/2031 (n) | 403000 | &nbsp;&nbsp; 421705 |
| Huntington Ingalls Industries, Inc., 5.749%, 1/15/2035  | 324000 | &nbsp;&nbsp; 346579 |
| L3Harris Technologies, Inc., 5.4%, 1/15/2027  | 493000 | &nbsp;&nbsp; 499535 |
| L3Harris Technologies, Inc., 5.4%, 7/31/2033  | 1060000 | &nbsp;&nbsp; 1116761 |
|  |  | &nbsp;&nbsp; $5088171 |
| Asset-Backed & Securitized – 1.3% | Asset-Backed & Securitized – 1.3% | Asset-Backed & Securitized – 1.3% |
| 3650R Commercial Mortgage Trust, 2021-PF1, "XA", 0.991%, 11/15/2054 (i) | $6344963 | &nbsp;&nbsp; $217226 |
| AmeriCredit Automobile Receivables Trust, 2026-1, "A", 4.16%, 7/12/2029 (n) | 891000 | &nbsp;&nbsp; 891007 |
| Angel Oak Mortgage Trust, 2024-13, "A1", 5.464%, 12/26/2069 (n) | 737056 | &nbsp;&nbsp; 742962 |
| Arbor Realty Trust, Inc., CLO, 2021-FL4, "AS", FLR, 5.474% ((SOFR - 1mo. + 0.11448%) + 1.7%), 11/15/2036 (n) | 484000 | &nbsp;&nbsp; 483994 |
| ARDN Mortgage Trust, 2025-ARCP, "A", FLR, 5.41% (SOFR - 1mo. + 1.75%), 6/15/2035 (n) | 1097000 | &nbsp;&nbsp; 1099635 |
| AREIT 2022-CRE6 Trust, "AS", FLR, 5.31% (SOFR - 30 day + 1.65%), 1/20/2037 (n) | 946500 | &nbsp;&nbsp; 943163 |
| AREIT 2023-CRE8 Trust, "A", FLR, 5.776% (SOFR - 1mo. + 2.1118%), 8/17/2041 (n) | 142661 | &nbsp;&nbsp; 142752 |
| ARI Fleet Lease Trust, 2023-B, "A2", 6.05%, 7/15/2032 (n) | 74863 | &nbsp;&nbsp; 75352 |
| Babson CLO Ltd., 2021-3A, "B1R", FLR, 5.298% (SOFR - 3mo. + 1.63%), 1/18/2035 (n) | 900000 | &nbsp;&nbsp; 901957 |
| BBCMS Mortgage Trust, 2021-C9, "XA", 1.538%, 2/15/2054 (i) | 3349296 | &nbsp;&nbsp; 201608 |
| BBCMS Mortgage Trust, 2022-C18, "XA", 0.437%, 12/15/2055 (i) | 4153742 | &nbsp;&nbsp; 136393 |
| BDS 2024-FL13 Ltd., "A", FLR, 5.242% (SOFR - 1mo. + 1.5762%), 9/19/2039 (n) | 365500 | &nbsp;&nbsp; 366382 |
| Benchmark 2021-B24 Mortgage Trust, "XA", 1.128%, 3/15/2054 (i) | 6614529 | &nbsp;&nbsp; 259162 |
| Benchmark 2021-B26 Mortgage Trust, "XA", 0.843%, 6/15/2054 (i) | 6294483 | &nbsp;&nbsp; 194595 |
| Benchmark 2021-B27 Mortgage Trust, "XA", 1.232%, 7/15/2054 (i) | 7347071 | &nbsp;&nbsp; 333713 |
| Benchmark 2022-B36 Mortgage Trust, "XA", 0.638%, 7/15/2055 (i) | 6956840 | &nbsp;&nbsp; 267221 |
| Business Jet Securities LLC, 2024-1A, "A", 6.197%, 5/15/2039 (n) | 136672 | &nbsp;&nbsp; 141411 |
| Chesapeake Funding II LLC, 2023-2A, "A2", FLR, 4.758% (SOFR - 30 day + 1.1%), 10/15/2035 (n) | 361427 | &nbsp;&nbsp; 362936 |
| Citigroup Commercial Mortgage Trust, 2019-XA, "C7", 0.815%, 12/15/2072 (i)(n) | 8395041 | &nbsp;&nbsp; 232593 |
| Colt Funding LLC, 2024-6, "A1", 5.39%, 11/25/2069 (n) | 572243 | &nbsp;&nbsp; 576298 |
| Commercial Mortgage Pass-Through Certificates, 2021-BN32, "XA", 0.757%, 4/15/2054 (i) | 4768865 | &nbsp;&nbsp; 132050 |
| Commercial Mortgage Pass-Through Certificates, 2022-BN43, "XA", 0.893%, 8/15/2055 (i) | 7871715 | &nbsp;&nbsp; 372798 |
| Commercial Mortgage Pass-Through Certificates, 2024-CBM, "A2", 5.867%, 12/10/2041 (n) | 201342 | &nbsp;&nbsp; 205947 |
| ELM Trust, 2024-ELM, "A10", 5.994%, 6/10/2039 (n) | 1030787 | &nbsp;&nbsp; 1035419 |
| EQT Trust, 2024-EXTR, "B", 5.655%, 7/05/2041 (n) | 234585 | &nbsp;&nbsp; 239913 |
| GLS Auto Select Receivables Trust, 2026-1A, "A2", 4.04%, 11/15/2028 (n) | 316000 | &nbsp;&nbsp; 315990 |
| Home Owner Mortgage Enhanced, 5.077%, 8/25/2060 (n) | 437733 | &nbsp;&nbsp; 440743 |
| JP Morgan Trust, 2026-NQM1, "A1", 4.745%, 6/25/2066 (n) | 163115 | &nbsp;&nbsp; 163621 |
| KREF 2018-FT1 Ltd., "A", FLR, 4.849% ((SOFR - 1mo. + 0.11448%) + 1.07%), 2/15/2039 (n) | 118499 | &nbsp;&nbsp; 118477 |
| KREF 2018-FT1 Ltd., "AS", FLR, 5.079% ((SOFR - 1mo. + 0.11448%) + 1.3%), 2/15/2039 (n) | 526000 | &nbsp;&nbsp; 525426 |
| LoanCore 2021-CRE5 Ltd., "AS", FLR, 5.524% ((SOFR - 1mo. + 0.11448%) + 1.75%), 7/15/2036 (n) | 196839 | &nbsp;&nbsp; 196593 |
| MF1 2024-FL5 LLC, "A", FLR, 5.352% (SOFR - 1mo. + 1.688%), 8/18/2041 (n) | 1151000 | &nbsp;&nbsp; 1153366 |
| MF1 2021-FL7 Ltd., "A", FLR, 4.861% ((SOFR - 1mo. + 0.11448%) + 1.08%), 10/16/2036 (n) | 239702 | &nbsp;&nbsp; 239649 |
| MF1 2022-FL8 Ltd., "A", FLR, 5.017% (SOFR - 1mo. + 1.35%), 2/19/2037 (n) | 545752 | &nbsp;&nbsp; 545750 |
| Morgan Stanley Capital I Trust, 2018-H4, "XA", 0.806%, 12/15/2051 (i) | 8708890 | &nbsp;&nbsp; 164022 |
| Morgan Stanley Capital I Trust, 2021-L5, "XA", 1.26%, 5/15/2054 (i) | 2630823 | &nbsp;&nbsp; 112494 |
| Morgan Stanley Residential Mortgage Loan Trust, 2024-NQM3, "A1", 5.044%, 7/25/2069 (n) | 273883 | &nbsp;&nbsp; 274298 |
| Morgan Stanley Residential Mortgage Loan Trust, 2025-NQM3, "A1", 5.53%, 5/25/2070 (n) | 326303 | &nbsp;&nbsp; 329385 |
| Morgan Stanley Residential Mortgage Loan Trust, 2026-INV1, "A9", FLR, 4.807% (SOFR - 1mo. + 1.15%), 2/25/2061 (n) | 265828 | &nbsp;&nbsp; 265926 |
| New Residential Mortgage Loan Trust, 2026-NQM2, "A1", 4.743%, 12/25/2065 (n) | 493468 | &nbsp;&nbsp; 493662 |

---

DIFFS-ANN

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Asset-Backed & Securitized – continued | Asset-Backed & Securitized – continued | Asset-Backed & Securitized – continued |
| New Residential Mortgage Loan Trust, 2026-NQM3, "A1", 4.833%, 2/25/2066 (n) | $973689 | &nbsp;&nbsp; $974449 |
| OBX Trust, 2024-NQM1, "A1", 5.928%, 11/25/2063 (n) | 228628 | &nbsp;&nbsp; 230120 |
| OBX Trust, 2024-NQM1, "A2", 6.253%, 11/25/2063 (n) | 61711 | &nbsp;&nbsp; 62139 |
| OBX Trust, 2024-NQM15, "A1", 5.316%, 10/25/2064 (n) | 150403 | &nbsp;&nbsp; 151336 |
| OBX Trust, 2024-NQM16, "A1", 5.53%, 10/25/2064 (n) | 287803 | &nbsp;&nbsp; 290706 |
| OBX Trust, 2024-NQM3, "A1", 6.129%, 12/25/2063 (n) | 285148 | &nbsp;&nbsp; 287698 |
| OBX Trust, 2025-NQM8, "A1", 5.472%, 3/25/2065 (n) | 269483 | &nbsp;&nbsp; 272345 |
| Palmer Square Loan Funding 2024-3A Ltd., "A2R", FLR, 4.81% (SOFR - 3mo. + 1.15%), 8/08/2032 (n) | 250000 | &nbsp;&nbsp; 250046 |
| Palmer Square Loan Funding 2025-2A Ltd., "A2", FLR, 5.072% (SOFR - 3mo. + 1.4%), 7/15/2033 (n) | 1225000 | &nbsp;&nbsp; 1225674 |
| PFS Financing Corp., 2023-C, "B", 5.91%, 10/15/2028 (n) | 208000 | &nbsp;&nbsp; 209833 |
| PFS Financing Corp., 2025-A, "A", FLR, 4.308% (SOFR - 1mo. + 0.65%), 1/15/2029 (n) | 692000 | &nbsp;&nbsp; 692790 |
| PMT Loan Trust, 2026-CNF1, "A26", FLR, 4.867% (SOFR - 1mo. + 1.2%), 1/25/2057 (n) | 182017 | &nbsp;&nbsp; 182005 |
| PMT Loan Trust, 2026-INV2, "A35", FLR, 4.81% (SOFR - 1mo. + 1.15%), 1/25/2057 (n) | 975706 | &nbsp;&nbsp; 975687 |
| Provident Funding Mortgage Trust, 2024-1, "A3", 5.5%, 12/25/2054 (n) | 349111 | &nbsp;&nbsp; 352810 |
| Provident Funding Mortgage Trust, 2025-3, "A4", 5.5%, 8/25/2055 (n) | 861054 | &nbsp;&nbsp; 870313 |
| RCKT Trust, 2025-1A,"A", 4.9%, 7/25/2034 (n) | 116182 | &nbsp;&nbsp; 116458 |
| Santander Drive Auto Receivables Trust, 2026-1, "A2", 4.04%, 3/15/2029  | 321000 | &nbsp;&nbsp; 321118 |
| Shackleton 2019-14A CLO Ltd., "BRR", FLR, 5.217% (SOFR - 3mo. + 1.55%), 7/20/2034 (n) | 948207 | &nbsp;&nbsp; 948520 |
| Verus Securitization Trust, 2024-1, "A2", 5.915%, 1/25/2069 (n) | 133291 | &nbsp;&nbsp; 133996 |
| Virginia Power Fuel Securitization LLC, 5.088%, 5/01/2027  | 226541 | &nbsp;&nbsp; 227725 |
| Wells Fargo Commercial Mortgage Trust, 2018-C48, "XA", 0.928%, 1/15/2052 (i)(n) | 4816224 | &nbsp;&nbsp; 99389 |
|  |  | &nbsp;&nbsp; $24771046 |
| Automotive – 0.2% | Automotive – 0.2% | Automotive – 0.2% |
| Cummins, Inc., 5.45%, 2/20/2054  | $638000 | &nbsp;&nbsp; $638828 |
| Ford Motor Credit Co. LLC, 6.95%, 6/10/2026  | 946000 | &nbsp;&nbsp; 950888 |
| Hyundai Capital America, 6.375%, 4/08/2030 (n) | 1018000 | &nbsp;&nbsp; 1094627 |
| Hyundai Capital America, 4.5%, 9/18/2030 (n) | 199000 | &nbsp;&nbsp; 200912 |
| Volkswagen Group of America Finance LLC, 4.45%, 9/11/2027 (n) | 404000 | &nbsp;&nbsp; 406150 |
|  |  | &nbsp;&nbsp; $3291405 |
| Broadcasting – 0.2% | Broadcasting – 0.2% | Broadcasting – 0.2% |
| Prosus N.V., 4.193%, 1/19/2032 (n) | $625000 | &nbsp;&nbsp; $606925 |
| Prosus N.V., 4.027%, 8/03/2050 (n) | 852000 | &nbsp;&nbsp; 607737 |
| Walt Disney Co., 3.5%, 5/13/2040  | 885000 | &nbsp;&nbsp; 750205 |
| Walt Disney Co., 3.8%, 5/13/2060  | 561000 | &nbsp;&nbsp; 415611 |
| WMG Acquisition Corp., 3.75%, 12/01/2029 (n) | 588000 | &nbsp;&nbsp; 565674 |
| WMG Acquisition Corp., 3.875%, 7/15/2030 (n) | 781000 | &nbsp;&nbsp; 749635 |
|  |  | &nbsp;&nbsp; $3695787 |
| Brokerage & Asset Managers – 0.5% | Brokerage & Asset Managers – 0.5% | Brokerage & Asset Managers – 0.5% |
| Charles Schwab Corp., 6.136% to 8/24/2033, FLR (SOFR - 1 day + 2.01%) to 8/24/2034  | $500000 | &nbsp;&nbsp; $546464 |
| Charles Schwab Corp., 4.914% to 11/14/2035, FLR (SOFR - 1 day + 1.23%) to 11/14/2036  | 977000 | &nbsp;&nbsp; 977293 |
| Citadel Securities Global Holdings LLC, 5.5%, 6/18/2030 (n) | 893000 | &nbsp;&nbsp; 918726 |
| Jefferies Financial Group, Inc., 5.5%, 2/15/2036  | 910000 | &nbsp;&nbsp; 894981 |
| LPL Holdings, Inc., 4.625%, 11/15/2027 (n) | 440000 | &nbsp;&nbsp; 439730 |
| LPL Holdings, Inc., 4.375%, 5/15/2031 (n) | 1273000 | &nbsp;&nbsp; 1245586 |
| LPL Holdings, Inc., 5.65%, 3/15/2035  | 902000 | &nbsp;&nbsp; 915236 |
| LSEGA Finance PLC, 2%, 4/06/2028 (n) | 1473000 | &nbsp;&nbsp; 1413903 |
| The Carlyle Group, Inc., 5.05%, 9/19/2035  | 1227000 | &nbsp;&nbsp; 1212115 |
|  |  | &nbsp;&nbsp; $8564034 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Building – 0.2% | Building – 0.2% | Building – 0.2% |
| Ferguson Enterprises, Inc., 5%, 10/03/2034  | $1387000 | &nbsp;&nbsp; $1409061 |
| JH North America Holdings, Inc., 5.875%, 1/31/2031 (n) | 565000 | &nbsp;&nbsp; 577041 |
| JH North America Holdings, Inc., 6.125%, 7/31/2032 (n) | 516000 | &nbsp;&nbsp; 529599 |
| Vulcan Materials Co., 3.5%, 6/01/2030  | 532000 | &nbsp;&nbsp; 520278 |
| Vulcan Materials Co., 4.5%, 6/15/2047  | 419000 | &nbsp;&nbsp; 365192 |
| Vulcan Materials Co., 5.7%, 12/01/2054  | 581000 | &nbsp;&nbsp; 585941 |
|  |  | &nbsp;&nbsp; $3987112 |
| Business Services – 0.1% | Business Services – 0.1% | Business Services – 0.1% |
| Accenture Capital, Inc., 4.25%, 10/04/2031  | $416000 | &nbsp;&nbsp; $417563 |
| Accenture Capital, Inc., 4.5%, 10/04/2034  | 283000 | &nbsp;&nbsp; 279951 |
| Fiserv, Inc., 4.4%, 7/01/2049  | 682000 | &nbsp;&nbsp; 539660 |
| Mastercard, Inc., 3.85%, 3/26/2050  | 977000 | &nbsp;&nbsp; 777157 |
| Paychex, Inc., 5.1%, 4/15/2030  | 372000 | &nbsp;&nbsp; 379907 |
| Paychex, Inc., 5.35%, 4/15/2032  | 429000 | &nbsp;&nbsp; 439962 |
|  |  | &nbsp;&nbsp; $2834200 |
| Cable TV – 0.3% | Cable TV – 0.3% | Cable TV – 0.3% |
| Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 6.384%, 10/23/2035  | $504000 | &nbsp;&nbsp; $526462 |
| Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 5.375%, 5/01/2047  | 675000 | &nbsp;&nbsp; 562606 |
| Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 6.7%, 12/01/2055  | 263000 | &nbsp;&nbsp; 256515 |
| Comcast Corp., 5.35%, 5/15/2053  | 1175000 | &nbsp;&nbsp; 1082287 |
| United Group B.V., 6.25%, 1/31/2032 (n) | 520000 | &nbsp;&nbsp; 629925 |
| Videotron Ltd., 3.625%, 6/15/2029 (n) | $855000 | &nbsp;&nbsp; 836008 |
| Videotron Ltd., 5.7%, 1/15/2035 (n) | 898000 | &nbsp;&nbsp; 928313 |
|  |  | &nbsp;&nbsp; $4822116 |
| Chemicals – 0.1% | Chemicals – 0.1% | Chemicals – 0.1% |
| Maxam Prill S.à r.l., 7.75%, 7/15/2030 (n) | $705000 | &nbsp;&nbsp; $736782 |
| Momentive Performance Materials, Inc., 4.125%, 10/22/2028 (n) | 913000 | &nbsp;&nbsp; 915236 |
|  |  | &nbsp;&nbsp; $1652018 |
| Computer Software – 0.3% | Computer Software – 0.3% | Computer Software – 0.3% |
| JSC Kaspi, 6.25%, 3/26/2030 (n) | $1064000 | &nbsp;&nbsp; $1095076 |
| Microsoft Corp., 2.525%, 6/01/2050  | 1429000 | &nbsp;&nbsp; 889741 |
| Microsoft Corp., 2.5%, 9/15/2050  | 1594000 | &nbsp;&nbsp; 983921 |
| Oracle Corp., 4.95%, 2/04/2031  | 726000 | &nbsp;&nbsp; 724513 |
| Oracle Corp., 4.8%, 9/26/2032  | 273000 | &nbsp;&nbsp; 266755 |
| Oracle Corp., 5.35%, 5/04/2033  | 929000 | &nbsp;&nbsp; 932132 |
| Oracle Corp., 5.7%, 2/04/2036  | 576000 | &nbsp;&nbsp; 576323 |
| Oracle Corp., 4%, 7/15/2046  | 598000 | &nbsp;&nbsp; 417166 |
|  |  | &nbsp;&nbsp; $5885627 |
| Computer Software - Systems – 0.1% | Computer Software - Systems – 0.1% | Computer Software - Systems – 0.1% |
| Apple, Inc., 2.65%, 5/11/2050  | $1640000 | &nbsp;&nbsp; $1044907 |
| Conglomerates – 0.3% | Conglomerates – 0.3% | Conglomerates – 0.3% |
| GE Vernova, Inc., 4.875%, 2/04/2036  | $819000 | &nbsp;&nbsp; $829363 |
| nVent Finance S.à r.l., 5.65%, 5/15/2033  | 952000 | &nbsp;&nbsp; 1006063 |
| Regal Rexnord Corp., 6.05%, 4/15/2028  | 1122000 | &nbsp;&nbsp; 1163427 |
| Regal Rexnord Corp., 6.3%, 2/15/2030  | 724000 | &nbsp;&nbsp; 773062 |
| Regal Rexnord Corp., 6.4%, 4/15/2033  | 258000 | &nbsp;&nbsp; 280530 |
| Westinghouse Air Brake Technologies Corp., 4.7%, 9/15/2028  | 1231000 | &nbsp;&nbsp; 1250205 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Conglomerates – continued | Conglomerates – continued | Conglomerates – continued |
| Westinghouse Air Brake Technologies Corp., 5.611%, 3/11/2034  | $527000 | &nbsp;&nbsp; $558852 |
|  |  | &nbsp;&nbsp; $5861502 |
| Consumer Products – 0.1% | Consumer Products – 0.1% | Consumer Products – 0.1% |
| Haleon US Capital LLC, 3.625%, 3/24/2032  | $935000 | &nbsp;&nbsp; $900893 |
| L'Oréal S.A., 5%, 5/20/2035 (n) | 662000 | &nbsp;&nbsp; 688436 |
| Mattel, Inc., 3.75%, 4/01/2029 (n) | 482000 | &nbsp;&nbsp; 472605 |
|  |  | &nbsp;&nbsp; $2061934 |
| Consumer Services – 0.2% | Consumer Services – 0.2% | Consumer Services – 0.2% |
| CBRE Group, Inc., 5.95%, 8/15/2034  | $959000 | &nbsp;&nbsp; $1025660 |
| Meituan, 4.5%, 5/05/2031 (n) | 786000 | &nbsp;&nbsp; 785043 |
| Rentokil Terminix LLC, 5%, 4/28/2030 (n) | 1156000 | &nbsp;&nbsp; 1183603 |
|  |  | &nbsp;&nbsp; $2994306 |
| Containers – 0.1% | Containers – 0.1% | Containers – 0.1% |
| San Miguel Industrias PET S.A., 3.75%, 8/02/2028 (n) | $2000000 | &nbsp;&nbsp; $1937240 |
| Electrical Equipment – 0.0% | Electrical Equipment – 0.0% | Electrical Equipment – 0.0% |
| Arrow Electronics, Inc., 5.875%, 4/10/2034  | $906000 | &nbsp;&nbsp; $954574 |
| Electronics – 0.2% | Electronics – 0.2% | Electronics – 0.2% |
| Broadcom, Inc., 5.05%, 7/12/2029  | $502000 | &nbsp;&nbsp; $519412 |
| Broadcom, Inc., 5.2%, 7/15/2035  | 850000 | &nbsp;&nbsp; 878486 |
| Broadcom, Inc., 4.8%, 2/15/2036  | 576000 | &nbsp;&nbsp; 577422 |
| Broadcom, Inc., 5.7%, 1/15/2056  | 605000 | &nbsp;&nbsp; 621256 |
| Intel Corp., 5.7%, 2/10/2053  | 488000 | &nbsp;&nbsp; 463474 |
|  |  | &nbsp;&nbsp; $3060050 |
| Emerging Market Quasi-Sovereign – 3.5% | Emerging Market Quasi-Sovereign – 3.5% | Emerging Market Quasi-Sovereign – 3.5% |
| Abu Dhabi Crude Oil Pipeline, 4.6%, 11/02/2047  | $870000 | &nbsp;&nbsp; $808484 |
| Abu Dhabi Developmental Holding Co. PJSC, 5.5%, 5/08/2034 (n) | 1214000 | &nbsp;&nbsp; 1286045 |
| Abu Dhabi Developmental Holding Co. PJSC, 5%, 5/06/2035 (n) | 864000 | &nbsp;&nbsp; 886242 |
| Abu Dhabi Developmental Holding Co. PJSC, 5.25%, 10/02/2054 (n) | 718000 | &nbsp;&nbsp; 696047 |
| Al Jawaher Assets Co. SPC (Sultanate of Oman), 4.662%, 10/29/2030 (n) | 803000 | &nbsp;&nbsp; 793302 |
| Avilease Capital Ltd. (Kingdom of Saudi Arabia), 4.75%, 11/12/2030 (n) | 1002000 | &nbsp;&nbsp; 998554 |
| Baiterek National Managing Holding JSC (Republic of Kazakhstan), 5.45%, 5/08/2028 (n) | 640000 | &nbsp;&nbsp; 652729 |
| Baiterek National Managing Holding JSC (Republic of Kazakhstan), 4.65%, 10/01/2030 (n) | 751000 | &nbsp;&nbsp; 748253 |
| Bank Gospodarstwa Krajowego (Republic of Poland), 5.375%, 5/22/2033 (n) | 1041000 | &nbsp;&nbsp; 1091042 |
| Bank Gospodarstwa Krajowego (Republic of Poland), 4.25%, 3/18/2037  | 844000 | &nbsp;&nbsp; 1040269 |
| Bulgarian Energy Holding EAD, 2.45%, 7/22/2028  | 1054000 | &nbsp;&nbsp; 1209003 |
| Bulgarian Energy Holding EAD, 4.25%, 6/19/2030  | 515000 | &nbsp;&nbsp; 607859 |
| Chile Electricity Lux MPC II S.à r.l., 6.01%, 1/20/2033 (n) | $411940 | &nbsp;&nbsp; 433014 |
| Chile Electricity Lux MPC II S.à r.l., 5.58%, 10/20/2035 (n) | 664703 | &nbsp;&nbsp; 686565 |
| Chile Electricity Lux MPC II S.à r.l., 5.672%, 10/20/2035 (n) | 708736 | &nbsp;&nbsp; 735719 |
| Codelco, Inc. (Republic of Chile), 6.33%, 1/13/2035 (n) | 720000 | &nbsp;&nbsp; 778954 |
| Codelco, Inc. (Republic of Chile), 6.44%, 1/26/2036 (n) | 597000 | &nbsp;&nbsp; 653095 |
| Codelco, Inc. (Republic of Chile), 5.529%, 1/30/2037 (n) | 688000 | &nbsp;&nbsp; 704512 |
| Codelco, Inc. (Republic of Chile), 6.78%, 1/13/2055 (n) | 817000 | &nbsp;&nbsp; 901135 |
| Comision Federal de Electricidad (United Mexican States), 6.045%, 1/28/2034 (n) | 1464000 | &nbsp;&nbsp; 1480470 |
| Comision Federal de Electricidad (United Mexican States), 6.5%, 1/28/2051 (n) | 414000 | &nbsp;&nbsp; 419071 |
| Corporacion Financiera de Desarrollo S.A. (Republic of Peru), 5.95%, 4/30/2029 (n) | 1013000 | &nbsp;&nbsp; 1059345 |
| Corporacion Financiera de Desarrollo S.A. (Republic of Peru), 5.5%, 5/06/2030 (n) | 423000 | &nbsp;&nbsp; 438162 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Emerging Market Quasi-Sovereign – continued | Emerging Market Quasi-Sovereign – continued | Emerging Market Quasi-Sovereign – continued |
| DAE Funding LLC (United Arab Emirates), 4.95%, 1/15/2033 (n) | $700000 | &nbsp;&nbsp; $695839 |
| DAE Sukuk (DIFC) Ltd. (United Arab Emirates), 4.5%, 10/16/2030 (n) | 735000 | &nbsp;&nbsp; 728567 |
| Development Bank of Kazakhstan JSC, 5.625%, 4/07/2030 (n) | 592000 | &nbsp;&nbsp; 614544 |
| Dhafra PV2 Energy Co. LLC (United Arab Emirates), 5.794%, 6/30/2053 (n) | 816000 | &nbsp;&nbsp; 840507 |
| Dua Capital Ltd. (Federation of Malaysia), 2.78%, 5/11/2031  | 878000 | &nbsp;&nbsp; 820400 |
| Ecopetrol S.A. (Republic of Colombia), 8.375%, 1/19/2036  | 724000 | &nbsp;&nbsp; 744019 |
| Empresa Nacional del Petroleo (Republic of Chile), 5.25%, 11/06/2029  | 495000 | &nbsp;&nbsp; 505955 |
| Empresa Nacional del Petroleo (Republic of Chile), 6.15%, 5/10/2033 (n) | 432000 | &nbsp;&nbsp; 460548 |
| Empresa Nacional del Petroleo (Republic of Chile), 5.95%, 7/30/2034 (n) | 487000 | &nbsp;&nbsp; 512000 |
| Empresa Nacional del Petroleo (Republic of Chile), 4.5%, 9/14/2047  | 895000 | &nbsp;&nbsp; 758050 |
| Eskom Holdings SOC Ltd. (Republic of South Africa), 6.35%, 8/10/2028 (n) | 684000 | &nbsp;&nbsp; 706263 |
| Export-Import Bank of India, 5.5%, 1/18/2033 (n) | 1143000 | &nbsp;&nbsp; 1208436 |
| Export-Import Bank of India, 5.5%, 1/13/2035 (n) | 1099000 | &nbsp;&nbsp; 1158378 |
| Export-Import Bank of India, 5%, 1/12/2036 (n) | 1048000 | &nbsp;&nbsp; 1065819 |
| Export-Import Bank of India, 5.75%, 1/12/2056 (n) | 455000 | &nbsp;&nbsp; 473402 |
| Grupo Energia Bogota S.A. ESP (Republic of Colombia), 5.75%, 10/22/2035 (n) | 687000 | &nbsp;&nbsp; 674806 |
| Indian Railway Finance Corp., 2.8%, 2/10/2031 (n) | 1354000 | &nbsp;&nbsp; 1262205 |
| JSCB Agrobank (Republic of Uzbekistan), 9.25%, 10/02/2029 (n) | 399000 | &nbsp;&nbsp; 438449 |
| Ma'aden Sukuk Ltd. (Kingdom of Saudi Arabia), 5.25%, 2/13/2030 (n) | 1287000 | &nbsp;&nbsp; 1321589 |
| Ma'aden Sukuk Ltd. (Kingdom of Saudi Arabia), 5.25%, 1/29/2036 (n) | 1211000 | &nbsp;&nbsp; 1225895 |
| Magyar Export-Import Bank PLC (Republic of Hungary), 6.125%, 12/04/2027 (n) | 798000 | &nbsp;&nbsp; 822088 |
| Magyar Fejlesztesi Bank Zrt. (Republic of Hungary), 4.375%, 6/27/2030  | 523000 | &nbsp;&nbsp; 636551 |
| MVM Energetika Zartkoruen Mukodo Reszvenytarsasag (Republic of Hungary), 6.5%, 3/13/2031  | $852000 | &nbsp;&nbsp; 907856 |
| National Bank of Uzbekistan, 8.5%, 7/05/2029  | 668000 | &nbsp;&nbsp; 724598 |
| Navoi Mining & Metallurgical Co. (Republic of Uzbekistan), 6.75%, 5/14/2030 (n) | 1234000 | &nbsp;&nbsp; 1300719 |
| Navoi Mining & Metallurgical Co. (Republic of Uzbekistan), 6.95%, 10/17/2031 (n) | 752000 | &nbsp;&nbsp; 808318 |
| OCP S.A. (Kingdom of Morocco), 6.1%, 4/30/2030 (n) | 316000 | &nbsp;&nbsp; 330220 |
| OCP S.A. (Kingdom of Morocco), 6.75%, 5/02/2034 (n) | 1309000 | &nbsp;&nbsp; 1417814 |
| OCP S.A. (Kingdom of Morocco), 6.7%, 3/01/2036 (n) | 723000 | &nbsp;&nbsp; 779574 |
| OCP S.A. (Kingdom of Morocco), 5.125%, 6/23/2051 (n) | 1376000 | &nbsp;&nbsp; 1148844 |
| OCP S.A. (Kingdom of Morocco), 7.5%, 5/02/2054 (n) | 1481000 | &nbsp;&nbsp; 1665077 |
| Ooredoo International Finance Ltd. (State of Qatar), 4.625%, 10/10/2034 (n) | 662000 | &nbsp;&nbsp; 671169 |
| Petroleos Mexicanos, 6.75%, 9/21/2047  | 1119000 | &nbsp;&nbsp; 930678 |
| Petroleos Mexicanos, 6.35%, 2/12/2048  | 1147000 | &nbsp;&nbsp; 919460 |
| Petroleos Mexicanos, 7.69%, 1/23/2050  | 1840000 | &nbsp;&nbsp; 1680034 |
| Petroleos Mexicanos, 6.95%, 1/28/2060  | 739000 | &nbsp;&nbsp; 609786 |
| PETRONAS Capital Ltd. (Federation of Malaysia), 4.95%, 1/03/2031 (n) | 1199000 | &nbsp;&nbsp; 1249083 |
| PETRONAS Capital Ltd. (Federation of Malaysia), 5.34%, 4/03/2035 (n) | 1187000 | &nbsp;&nbsp; 1250765 |
| PETRONAS Capital Ltd. (Federation of Malaysia), 5.848%, 4/03/2055 (n) | 580000 | &nbsp;&nbsp; 617824 |
| PT Pertamina Hulu Energi (Republic of Indonesia), 5.25%, 5/21/2030 (n) | 858000 | &nbsp;&nbsp; 874897 |
| PT Perusahaan Listrik Negara (Republic of Indonesia), 5.45%, 2/03/2036 (n) | 920000 | &nbsp;&nbsp; 919906 |
| QNB Finance Ltd. (State of Qatar), 2.75%, 2/12/2027  | 1129000 | &nbsp;&nbsp; 1116863 |
| Republic of El Salvador, 8.65%, 1/24/2033 (n) | 330000 | &nbsp;&nbsp; 349018 |
| SA Global Sukuk Ltd. (Kingdom of Saudi Arabia), 4.125%, 9/17/2030 (n) | 1023000 | &nbsp;&nbsp; 1014372 |
| Saudi Arabian Oil Co., 5%, 2/02/2036 (n) | 726000 | &nbsp;&nbsp; 726980 |
| Saudi Arabian Oil Co., 5.75%, 7/17/2054 (n) | 638000 | &nbsp;&nbsp; 621600 |
| Saudi Arabian Oil Co., 6.375%, 6/02/2055 (n) | 893000 | &nbsp;&nbsp; 941099 |
| Sonangol Finance Ltd. (Republic of Angola), 10%, 1/29/2031 (n) | 1019000 | &nbsp;&nbsp; 1013816 |
| STC Sukuk Co. II Ltd. (Kingdom of Saudi Arabia), 4.489%, 1/15/2031 (n) | 507000 | &nbsp;&nbsp; 508299 |
| STC Sukuk Co. II Ltd. (Kingdom of Saudi Arabia), 5.083%, 1/15/2036 (n) | 510000 | &nbsp;&nbsp; 517178 |
| T.C. Ziraat Bankasi A.S. (Republic of Turkey), 7.25%, 2/04/2030 (n) | 586000 | &nbsp;&nbsp; 607751 |
| Telecommunications Co. (Republic of Serbia), 7%, 10/28/2029 (n) | 886000 | &nbsp;&nbsp; 903635 |
| Turkiye Vakiflar Bankasi T.A.O., 6.875%, 1/07/2030 (n) | 712000 | &nbsp;&nbsp; 730807 |
| Uzbek Industrial & Construction Bank ATB (Republic of Uzbekistan), 8.95%, 7/24/2029 (n) | 741000 | &nbsp;&nbsp; 808291 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Emerging Market Quasi-Sovereign – continued | Emerging Market Quasi-Sovereign – continued | Emerging Market Quasi-Sovereign – continued |
| Uzbekneftegaz JSC (Republic of Uzbekistan), 4.75%, 11/16/2028 (n) | $324000 | &nbsp;&nbsp; $316431 |
|  |  | &nbsp;&nbsp; $65764943 |
| Emerging Market Sovereign – 9.0% | Emerging Market Sovereign – 9.0% | Emerging Market Sovereign – 9.0% |
| Arab Republic of Egypt, 0%, 3/03/2026  | 86575000 | &nbsp;&nbsp; $1800733 |
| Arab Republic of Egypt, 0%, 4/21/2026  | 76625000 | &nbsp;&nbsp; 1547958 |
| Arab Republic of Egypt, 0%, 5/19/2026  | 39250000 | &nbsp;&nbsp; 779146 |
| Arab Republic of Egypt, 7.6%, 3/01/2029  | $937000 | &nbsp;&nbsp; 982649 |
| Arab Republic of Egypt, 5.875%, 2/16/2031  | 1366000 | &nbsp;&nbsp; 1326556 |
| Arab Republic of Egypt, 7.903%, 2/21/2048  | 776000 | &nbsp;&nbsp; 699930 |
| Benin Sukuk S.A., 6.2%, 1/29/2033 (n) | 433000 | &nbsp;&nbsp; 426668 |
| Commonwealth of Bahamas, 8.25%, 6/24/2036 (n) | 915000 | &nbsp;&nbsp; 1025285 |
| Czech Republic, 4.9%, 4/14/2034  | 17950000 | &nbsp;&nbsp; 920845 |
| Democratic Socialist Republic of Sri Lanka, 4%, 4/15/2028 (n) | $246838 | &nbsp;&nbsp; 240111 |
| Democratic Socialist Republic of Sri Lanka, 3.1%, 1/15/2030 (n) | 271301 | &nbsp;&nbsp; 270122 |
| Democratic Socialist Republic of Sri Lanka, 3.35%, 3/15/2033 (n) | 1630525 | &nbsp;&nbsp; 1528617 |
| Democratic Socialist Republic of Sri Lanka, 3.6%, 5/15/2036 (n) | 565350 | &nbsp;&nbsp; 563469 |
| Democratic Socialist Republic of Sri Lanka, 3.6%, 2/15/2038 (n) | 498971 | &nbsp;&nbsp; 496515 |
| Dominican Republic, 5.5%, 2/22/2029 (n) | 931000 | &nbsp;&nbsp; 947432 |
| Dominican Republic, 7.05%, 2/03/2031 (n) | 1196000 | &nbsp;&nbsp; 1279600 |
| Dominican Republic, 4.875%, 9/23/2032 (n) | 839000 | &nbsp;&nbsp; 806254 |
| Dominican Republic, 4.875%, 9/23/2032  | 824000 | &nbsp;&nbsp; 791839 |
| Dominican Republic, 6%, 2/22/2033 (n) | 610000 | &nbsp;&nbsp; 621724 |
| Dominican Republic, 6.95%, 3/15/2037 (n) | 717000 | &nbsp;&nbsp; 768624 |
| Dominican Republic, 6.15%, 5/17/2038 (n) | 755000 | &nbsp;&nbsp; 756510 |
| Eagle Funding LuxCo S.à r.l. (United Mexican States), 5.5%, 8/17/2030 (n) | 1109000 | &nbsp;&nbsp; 1128286 |
| Federal Republic of Nigeria, 0%, 3/24/2026  | 1736133000 | &nbsp;&nbsp; 1255849 |
| Federal Republic of Nigeria, 0%, 6/09/2026  | 1084864000 | &nbsp;&nbsp; 751525 |
| Federal Republic of Nigeria, 0%, 9/22/2026  | 1132434000 | &nbsp;&nbsp; 747476 |
| Federal Republic of Nigeria, 7.875%, 2/16/2032  | $704000 | &nbsp;&nbsp; 736971 |
| Federal Republic of Nigeria, 7.375%, 9/28/2033 (n) | 601000 | &nbsp;&nbsp; 610664 |
| Federal Republic of Nigeria, 7.375%, 9/28/2033  | 1553000 | &nbsp;&nbsp; 1577972 |
| Federal Republic of Nigeria, 8.631%, 1/13/2036 (n) | 703000 | &nbsp;&nbsp; 755441 |
| Federal Republic of Nigeria, 7.696%, 2/23/2038  | 595000 | &nbsp;&nbsp; 594707 |
| Federal Republic of Nigeria, 9.13%, 1/13/2046 (n) | 575000 | &nbsp;&nbsp; 625071 |
| Federative Republic of Brazil, 10%, 1/01/2029  | 5356000 | &nbsp;&nbsp; 983178 |
| Federative Republic of Brazil, 10%, 1/01/2031  | 3456000 | &nbsp;&nbsp; 603467 |
| Federative Republic of Brazil, 6.625%, 3/15/2035  | $684000 | &nbsp;&nbsp; 717981 |
| Federative Republic of Brazil, 6.25%, 5/22/2036  | 846000 | &nbsp;&nbsp; 852514 |
| Federative Republic of Brazil, 7.25%, 1/12/2056  | 474000 | &nbsp;&nbsp; 481110 |
| Government of Ukraine, 4%, 2/01/2032 (n) | 2512960 | &nbsp;&nbsp; 1959594 |
| Government of Ukraine, 0%, 2/01/2034 (n) | 779905 | &nbsp;&nbsp; 381977 |
| Government of Ukraine, 4.5%, 2/01/2034 (n) | 188729 | &nbsp;&nbsp; 117210 |
| Government of Ukraine, 0%, 2/01/2035 (n) | 217038 | &nbsp;&nbsp; 123342 |
| Government of Ukraine, 4.5%, 2/01/2035 (n) | 440367 | &nbsp;&nbsp; 268459 |
| Government of Ukraine, 0%, 2/01/2036 (n) | 180865 | &nbsp;&nbsp; 102507 |
| Government of Ukraine, 4.5%, 2/01/2036 (n) | 629096 | &nbsp;&nbsp; 378454 |
| Hazine Mustesarligi Varlik Kiralama A.S. (Republic of Turkey), 6.5%, 4/26/2030 (n) | 631000 | &nbsp;&nbsp; 652896 |
| Hazine Mustesarligi Varlik Kiralama A.S. (Republic of Turkey), 6.75%, 9/01/2030 (n) | 672000 | &nbsp;&nbsp; 701346 |
| Islamic Republic of Pakistan, 6%, 4/08/2026  | 557000 | &nbsp;&nbsp; 556710 |
| Kingdom of Saudi Arabia, 5.125%, 1/13/2028 (n) | 973000 | &nbsp;&nbsp; 992844 |
| Kingdom of Saudi Arabia, 4.875%, 1/12/2036 (n) | 835000 | &nbsp;&nbsp; 838724 |
| Kingdom of Saudi Arabia, 4.5%, 10/26/2046  | 1446000 | &nbsp;&nbsp; 1246262 |
| Kingdom of Saudi Arabia, 4.625%, 10/04/2047  | 697000 | &nbsp;&nbsp; 607835 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Emerging Market Sovereign – continued | Emerging Market Sovereign – continued | Emerging Market Sovereign – continued |
| Kingdom of Saudi Arabia, 3.25%, 11/17/2051 (n) | $736000 | &nbsp;&nbsp; $493177 |
| Kingdom of Saudi Arabia, 5.875%, 1/12/2056 (n) | 968000 | &nbsp;&nbsp; 972241 |
| Oriental Republic of Uruguay, 8%, 10/29/2035  | 34699123 | &nbsp;&nbsp; 946996 |
| Oriental Republic of Uruguay, 5.442%, 2/14/2037  | $967000 | &nbsp;&nbsp; 1014141 |
| Oriental Republic of Uruguay, 4.975%, 4/20/2055  | 753000 | &nbsp;&nbsp; 696977 |
| Oriental Republic of Uruguay, 5.25%, 9/10/2060  | 940742 | &nbsp;&nbsp; 893235 |
| Republic of Angola, 9.244%, 1/15/2031 (n) | 679000 | &nbsp;&nbsp; 689185 |
| Republic of Angola, 8.75%, 4/14/2032 (n) | 782000 | &nbsp;&nbsp; 766212 |
| Republic of Angola, 9.375%, 5/08/2048  | 349000 | &nbsp;&nbsp; 315760 |
| Republic of Angola, 9.125%, 11/26/2049  | 1922000 | &nbsp;&nbsp; 1700997 |
| Republic of Argentina, 4.125%, 7/09/2035  | 3927000 | &nbsp;&nbsp; 2960173 |
| Republic of Argentina, 5%, 1/09/2038  | 3749000 | &nbsp;&nbsp; 2942965 |
| Republic of Argentina, 3.5%, 7/09/2041  | 4236000 | &nbsp;&nbsp; 2965200 |
| Republic of Barbados, 8%, 6/26/2035 (n) | 690000 | &nbsp;&nbsp; 737610 |
| Republic of Benin, 7.96%, 2/13/2038 (n) | 816000 | &nbsp;&nbsp; 858419 |
| Republic of Benin, 8.375%, 1/23/2041 (n) | 533000 | &nbsp;&nbsp; 569190 |
| Republic of Chile, 4.35%, 4/13/2031  | 552000 | &nbsp;&nbsp; 552938 |
| Republic of Chile, 5.65%, 1/13/2037  | 1491000 | &nbsp;&nbsp; 1596712 |
| Republic of Colombia, 7.375%, 4/25/2030  | 605000 | &nbsp;&nbsp; 636490 |
| Republic of Colombia, 6.125%, 1/21/2031  | 632000 | &nbsp;&nbsp; 630515 |
| Republic of Colombia, 5%, 9/19/2032  | 706000 | &nbsp;&nbsp; 809159 |
| Republic of Colombia, 6.5%, 1/21/2033  | $894000 | &nbsp;&nbsp; 887572 |
| Republic of Colombia, 8%, 11/14/2035  | 1115000 | &nbsp;&nbsp; 1188367 |
| Republic of Colombia, 7.75%, 11/07/2036  | 1152000 | &nbsp;&nbsp; 1197504 |
| Republic of Costa Rica, 6.55%, 4/03/2034 (n) | 701000 | &nbsp;&nbsp; 762155 |
| Republic of Costa Rica, 7%, 4/04/2044  | 272000 | &nbsp;&nbsp; 301980 |
| Republic of Costa Rica, 7.158%, 3/12/2045  | 1215000 | &nbsp;&nbsp; 1361322 |
| Republic of Costa Rica, 7.3%, 11/13/2054 (n) | 1919000 | &nbsp;&nbsp; 2185357 |
| Republic of Cote d'Ivoire, 7.625%, 1/30/2033 (n) | 1331000 | &nbsp;&nbsp; 1425624 |
| Republic of Cote d'Ivoire, 8.075%, 4/01/2036 (n) | 1350000 | &nbsp;&nbsp; 1457967 |
| Republic of Cote d'Ivoire, 8.25%, 1/30/2037 (n) | 1910000 | &nbsp;&nbsp; 2085772 |
| Republic of Cote d'Ivoire, 6.75%, 2/25/2041 (n) | 623000 | &nbsp;&nbsp; 593828 |
| Republic of Ecuador, 8.75%, 1/29/2034 (n) | 1086000 | &nbsp;&nbsp; 1093059 |
| Republic of Ecuador, 6.9%, 7/31/2035  | 2495789 | &nbsp;&nbsp; 2263681 |
| Republic of Ecuador, 9.25%, 1/29/2039 (n) | 1100000 | &nbsp;&nbsp; 1113750 |
| Republic of Ecuador, 5%, 7/31/2040  | 1402000 | &nbsp;&nbsp; 1145434 |
| Republic of El Salvador, 9.65%, 11/21/2054 (n) | 294000 | &nbsp;&nbsp; 333690 |
| Republic of Ghana, 5%, 7/03/2035 (n) | 2938576 | &nbsp;&nbsp; 2660436 |
| Republic of Guatemala, 3.7%, 10/07/2033  | 936000 | &nbsp;&nbsp; 850347 |
| Republic of Guatemala, 6.6%, 6/13/2036 (n) | 703000 | &nbsp;&nbsp; 762903 |
| Republic of Guatemala, 6.25%, 8/15/2036 (n) | 1013000 | &nbsp;&nbsp; 1071926 |
| Republic of Guatemala, 6.55%, 2/06/2037 (n) | 794000 | &nbsp;&nbsp; 858703 |
| Republic of Guatemala, 6.875%, 8/15/2055 (n) | 691000 | &nbsp;&nbsp; 756002 |
| Republic of Honduras, 8.625%, 11/27/2034  | 788000 | &nbsp;&nbsp; 914395 |
| Republic of Hungary, 5.375%, 9/26/2030 (n) | 698000 | &nbsp;&nbsp; 723166 |
| Republic of Hungary, 6.75%, 7/23/2031  | 238960000 | &nbsp;&nbsp; 772614 |
| Republic of Hungary, 5.5%, 6/16/2034 (n) | $1509000 | &nbsp;&nbsp; 1549512 |
| Republic of Hungary, 6%, 9/26/2035 (n) | 454000 | &nbsp;&nbsp; 477812 |
| Republic of Hungary, 5.5%, 3/26/2036 (n) | 903000 | &nbsp;&nbsp; 915804 |
| Republic of Hungary, 5.5%, 3/26/2036  | 643000 | &nbsp;&nbsp; 652117 |
| Republic of Hungary, 6.75%, 9/23/2055 (n) | 698000 | &nbsp;&nbsp; 751009 |
| Republic of Indonesia, 4.1%, 3/04/2034 (w) | 515000 | &nbsp;&nbsp; 611571 |
| Republic of Indonesia, 4.46%, 3/04/2038 (w) | 430000 | &nbsp;&nbsp; 510790 |
| Republic of Kazakhstan, 5%, 7/01/2032 (n) | $995000 | &nbsp;&nbsp; 1014962 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Emerging Market Sovereign – continued | Emerging Market Sovereign – continued | Emerging Market Sovereign – continued |
| Republic of Kenya, 8.8%, 10/09/2038 (n) | $588000 | &nbsp;&nbsp; $581925 |
| Republic of Kenya, 8.7%, 2/26/2039 (n) | 648000 | &nbsp;&nbsp; 632506 |
| Republic of Montenegro, 4.875%, 4/01/2032 (n) | 430000 | &nbsp;&nbsp; 523039 |
| Republic of Panama, 5.227%, 2/23/2034  | $895000 | &nbsp;&nbsp; 894553 |
| Republic of Panama, 6.4%, 2/14/2035  | 906000 | &nbsp;&nbsp; 967064 |
| Republic of Panama, 6.7%, 1/26/2036  | 336000 | &nbsp;&nbsp; 365736 |
| Republic of Panama, 5.662%, 2/23/2038  | 746000 | &nbsp;&nbsp; 749730 |
| Republic of Panama, 8%, 3/01/2038  | 952000 | &nbsp;&nbsp; 1130928 |
| Republic of Panama, 4.5%, 1/19/2063  | 1037000 | &nbsp;&nbsp; 802742 |
| Republic of Paraguay, 8.5%, 4/04/2038 (n)(w) | 6685000000 | &nbsp;&nbsp; 1040150 |
| Republic of Paraguay, 5.4%, 3/30/2050 (n) | $1713000 | &nbsp;&nbsp; 1611918 |
| Republic of Paraguay, 5.4%, 3/30/2050  | 1091000 | &nbsp;&nbsp; 1026621 |
| Republic of Peru, 7.6%, 8/12/2039  | 1802000 | &nbsp;&nbsp; 584457 |
| Republic of Philippines, 5%, 1/27/2036  | $978000 | &nbsp;&nbsp; 993851 |
| Republic of Poland, 5.125%, 9/18/2034  | 981000 | &nbsp;&nbsp; 1019339 |
| Republic of Poland, 5%, 10/25/2034  | 4502000 | &nbsp;&nbsp; 1277555 |
| Republic of Poland, 5.375%, 2/12/2035  | $1349000 | &nbsp;&nbsp; 1414916 |
| Republic of Poland, 5%, 10/25/2035  | 1599000 | &nbsp;&nbsp; 449816 |
| Republic of Romania, 2%, 1/28/2032  | 625000 | &nbsp;&nbsp; 649323 |
| Republic of Romania, 3.625%, 3/27/2032  | $1082000 | &nbsp;&nbsp; 1005200 |
| Republic of Romania, 4.625%, 3/04/2033 (n)(w) | 970000 | &nbsp;&nbsp; 1143330 |
| Republic of Romania, 7.5%, 7/27/2033  | 2380000 | &nbsp;&nbsp; 590821 |
| Republic of Romania, 6.375%, 1/30/2034 (n) | $554000 | &nbsp;&nbsp; 586826 |
| Republic of Romania, 3.75%, 2/07/2034 (n) | 592000 | &nbsp;&nbsp; 648463 |
| Republic of Romania, 6%, 5/25/2034 (n) | $928000 | &nbsp;&nbsp; 958876 |
| Republic of Romania, 7.1%, 7/31/2034  | 1805000 | &nbsp;&nbsp; 440889 |
| Republic of Romania, 5.75%, 3/24/2035  | $1220000 | &nbsp;&nbsp; 1234494 |
| Republic of Romania, 6.625%, 5/16/2036 (n) | 1680000 | &nbsp;&nbsp; 1789093 |
| Republic of Romania, 5.75%, 7/04/2036 (n)(w) | 1074000 | &nbsp;&nbsp; 1077080 |
| Republic of Romania, 7.5%, 2/10/2037 (n) | 610000 | &nbsp;&nbsp; 691424 |
| Republic of Romania, 6.75%, 7/11/2039 (n) | 644000 | &nbsp;&nbsp; 816493 |
| Republic of Romania, 6.5%, 10/07/2045 (n) | 695000 | &nbsp;&nbsp; 856530 |
| Republic of Serbia, 6%, 6/12/2034 (n) | $657000 | &nbsp;&nbsp; 693721 |
| Republic of South Africa, 7.1%, 11/19/2036 (n) | 1486000 | &nbsp;&nbsp; 1598789 |
| Republic of South Africa, 6.125%, 12/11/2037 (n) | 1159000 | &nbsp;&nbsp; 1144165 |
| Republic of South Africa, 6.5%, 2/28/2041  | 28272000 | &nbsp;&nbsp; 1481398 |
| Republic of South Africa, 8.75%, 1/31/2044  | 12080000 | &nbsp;&nbsp; 765993 |
| Republic of South Africa, 7.3%, 4/20/2052  | $1812000 | &nbsp;&nbsp; 1834988 |
| Republic of South Africa, 7.95%, 11/19/2054 (n) | 1529000 | &nbsp;&nbsp; 1654044 |
| Republic of South Africa, 7.25%, 12/11/2055 (n) | 879000 | &nbsp;&nbsp; 879426 |
| Republic of Suriname, 7.7%, 11/06/2030 (n) | 336000 | &nbsp;&nbsp; 345744 |
| Republic of Suriname, 8.5%, 11/06/2035 (n) | 443000 | &nbsp;&nbsp; 470688 |
| Republic of Turkey, 8.509%, 1/14/2029 (n) | 453000 | &nbsp;&nbsp; 492817 |
| Republic of Turkey, 5.875%, 6/26/2031  | 1529000 | &nbsp;&nbsp; 1522331 |
| Republic of Turkey, 6.5%, 1/03/2035  | 592000 | &nbsp;&nbsp; 589209 |
| Republic of Turkey, 6.95%, 9/16/2035  | 777000 | &nbsp;&nbsp; 788245 |
| Republic of Turkey, 6.8%, 11/04/2036  | 565000 | &nbsp;&nbsp; 565147 |
| Republic of Turkey, 6.875%, 1/14/2038  | 749000 | &nbsp;&nbsp; 745411 |
| Republic of Turkey, 5.75%, 5/11/2047  | 1575000 | &nbsp;&nbsp; 1288736 |
| Republic of Uzbekistan, 7.85%, 10/12/2028 (n) | 668000 | &nbsp;&nbsp; 714442 |
| Republic of Uzbekistan, 5.375%, 2/20/2029  | 1081000 | &nbsp;&nbsp; 1092963 |
| Republic of Uzbekistan, 6.9%, 2/28/2032 (n) | 907000 | &nbsp;&nbsp; 980587 |
| Republic of Uzbekistan, 6.947%, 5/25/2032 (n) | 771000 | &nbsp;&nbsp; 839979 |
| Republic of Venezuela, 7.65%, 4/21/2026 (a)(d) | 882000 | &nbsp;&nbsp; 338335 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Emerging Market Sovereign – continued | Emerging Market Sovereign – continued | Emerging Market Sovereign – continued |
| Republic of Venezuela, 9.25%, 9/15/2027 (a)(d) | $1121000 | &nbsp;&nbsp; $495594 |
| Republic of Venezuela, 11.95%, 8/05/2031 (a)(d) | 551000 | &nbsp;&nbsp; 250760 |
| Republic of Venezuela, 7%, 3/31/2038 (a)(d) | 4085000 | &nbsp;&nbsp; 1562921 |
| Republic of Zambia, 5.75%, 6/30/2033  | 893165 | &nbsp;&nbsp; 869076 |
| State of Kuwait, 4.136%, 10/09/2030 (n) | 1273000 | &nbsp;&nbsp; 1277199 |
| State of Kuwait, 4.652%, 10/09/2035 (n) | 602000 | &nbsp;&nbsp; 605967 |
| Sultanate of Oman, 6.5%, 3/08/2047  | 1218000 | &nbsp;&nbsp; 1319986 |
| Sultanate of Oman, 6.75%, 1/17/2048  | 1457000 | &nbsp;&nbsp; 1609334 |
| Sultanate of Oman, 7%, 1/25/2051  | 1416000 | &nbsp;&nbsp; 1620111 |
| United Mexican States, 5.85%, 7/02/2032  | 1166000 | &nbsp;&nbsp; 1205469 |
| United Mexican States, 5.375%, 3/22/2033  | 929000 | &nbsp;&nbsp; 928117 |
| United Mexican States, 5.625%, 2/09/2034  | 1401000 | &nbsp;&nbsp; 1413231 |
| United Mexican States, 5.625%, 9/22/2035  | 2225000 | &nbsp;&nbsp; 2218325 |
| United Mexican States, 6.875%, 5/13/2037  | 703000 | &nbsp;&nbsp; 757658 |
| United Mexican States, 6.625%, 1/29/2038  | 698000 | &nbsp;&nbsp; 737437 |
| United Mexican States, 6.125%, 2/09/2038  | 1030000 | &nbsp;&nbsp; 1042721 |
| United Mexican States, 6.338%, 5/04/2053  | 1089000 | &nbsp;&nbsp; 1056221 |
| United Mexican States, 6.4%, 5/07/2054  | 578000 | &nbsp;&nbsp; 563723 |
| United Mexican States, 7.375%, 5/13/2055  | 741000 | &nbsp;&nbsp; 812358 |
| United Mexican States, 6.75%, 2/09/2056  | 658000 | &nbsp;&nbsp; 667048 |
|  |  | &nbsp;&nbsp; $169326484 |
| Energy - Independent – 0.3% | Energy - Independent – 0.3% | Energy - Independent – 0.3% |
| Azule Energy Finance PLC, 8.25%, 1/22/2031 (n) | $488000 | &nbsp;&nbsp; $493143 |
| Azule Energy Finance PLC, 8.625%, 1/22/2033 (n) | 556000 | &nbsp;&nbsp; 559228 |
| Occidental Petroleum Corp., 6.125%, 1/01/2031  | 414000 | &nbsp;&nbsp; 445012 |
| Occidental Petroleum Corp., 4.4%, 4/15/2046  | 625000 | &nbsp;&nbsp; 511473 |
| Pioneer Natural Resources Co., 1.9%, 8/15/2030  | 1491000 | &nbsp;&nbsp; 1367387 |
| Pioneer Natural Resources Co., 2.15%, 1/15/2031  | 501000 | &nbsp;&nbsp; 461109 |
| Santos Finance Ltd., 6.875%, 9/19/2033 (n) | 764000 | &nbsp;&nbsp; 848560 |
| Santos Finance Ltd., 5.75%, 11/13/2035 (n) | 321000 | &nbsp;&nbsp; 328236 |
| SierraCol Energy Andina LLC/SierraCol Energy, 9%, 11/14/2030 (n) | 628000 | &nbsp;&nbsp; 638205 |
|  |  | &nbsp;&nbsp; $5652353 |
| Energy - Integrated – 0.0% | Energy - Integrated – 0.0% | Energy - Integrated – 0.0% |
| BP Capital Markets America, Inc., 3.001%, 3/17/2052  | $1126000 | &nbsp;&nbsp; $738795 |
| Entertainment – 0.1% | Entertainment – 0.1% | Entertainment – 0.1% |
| Royal Caribbean Cruises Ltd., 4.25%, 7/01/2026 (n) | $1035000 | &nbsp;&nbsp; $1034782 |
| Royal Caribbean Cruises Ltd., 5.625%, 9/30/2031 (n) | 590000 | &nbsp;&nbsp; 608170 |
| Royal Caribbean Cruises Ltd., 5.375%, 1/15/2036  | 339000 | &nbsp;&nbsp; 346246 |
|  |  | &nbsp;&nbsp; $1989198 |
| Financial Institutions – 0.4% | Financial Institutions – 0.4% | Financial Institutions – 0.4% |
| Avolon Holdings Funding Ltd., 2.75%, 2/21/2028 (n) | $1323000 | &nbsp;&nbsp; $1287215 |
| Avolon Holdings Funding Ltd., 4.95%, 10/15/2032 (n) | 867000 | &nbsp;&nbsp; 869076 |
| Macquarie AirFinance Holdings Ltd., 5.15%, 3/17/2030 (n) | 1411000 | &nbsp;&nbsp; 1441710 |
| Muangthai Capital PCL, 7.55%, 7/21/2030 (n) | 403000 | &nbsp;&nbsp; 417953 |
| Muthoot Finance Ltd., 7.125%, 2/14/2028 (n) | 714000 | &nbsp;&nbsp; 729127 |
| Muthoot Finance Ltd., 6.375%, 3/02/2030 (n) | 669000 | &nbsp;&nbsp; 681894 |
| SMBC Aviation Capital Finance DAC, 5.3%, 4/03/2029 (n) | 1660000 | &nbsp;&nbsp; 1713713 |
| SMBC Aviation Capital Finance DAC, 5.25%, 11/26/2035 (n) | 806000 | &nbsp;&nbsp; 819935 |
|  |  | &nbsp;&nbsp; $7960623 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Food & Beverages – 0.8% | Food & Beverages – 0.8% | Food & Beverages – 0.8% |
| Anheuser-Busch InBev Worldwide, Inc., 5.55%, 1/23/2049  | $2041000 | &nbsp;&nbsp; $2055403 |
| Bacardi Ltd., 5.15%, 5/15/2038 (n) | 2504000 | &nbsp;&nbsp; 2403504 |
| Central American Bottling Corp., 5.25%, 4/27/2029 (n) | 1214000 | &nbsp;&nbsp; 1201270 |
| Diageo Capital PLC, 5.625%, 10/05/2033  | 1299000 | &nbsp;&nbsp; 1392634 |
| Flowers Foods, Inc., 5.75%, 3/15/2035  | 810000 | &nbsp;&nbsp; 802486 |
| Flowers Foods, Inc., 6.2%, 3/15/2055  | 238000 | &nbsp;&nbsp; 208165 |
| Grupo Nutresa S.A., 8%, 5/12/2030 (n) | 857000 | &nbsp;&nbsp; 923203 |
| JBS N.V./JBS USA Foods Group Holdings, Inc./JBS USA Food Co., 3%, 2/02/2029  | 592000 | &nbsp;&nbsp; 575066 |
| JBS N.V./JBS USA Foods Group Holdings, Inc./JBS USA Food Co., 3.75%, 12/01/2031  | 465000 | &nbsp;&nbsp; 443497 |
| JBS N.V./JBS USA Foods Group Holdings, Inc./JBS USA Food Co., 3.625%, 1/15/2032  | 461000 | &nbsp;&nbsp; 436290 |
| JBS N.V./JBS USA Foods Group Holdings, Inc./JBS USA Food Co., 6.5%, 12/01/2052  | 399000 | &nbsp;&nbsp; 421603 |
| Kraft Heinz Foods Co., 4.875%, 10/01/2049  | 506000 | &nbsp;&nbsp; 436186 |
| Kraft Heinz Foods Co., 5.5%, 6/01/2050  | 628000 | &nbsp;&nbsp; 590148 |
| Mars, Inc., 4.55%, 4/20/2028 (n) | 463000 | &nbsp;&nbsp; 469353 |
| Mars, Inc., 4.75%, 4/20/2033 (n) | 1424000 | &nbsp;&nbsp; 1450407 |
| Mars, Inc., 3.95%, 4/01/2049 (n) | 758000 | &nbsp;&nbsp; 613704 |
| Mars, Inc., 5.7%, 5/01/2055 (n) | 932000 | &nbsp;&nbsp; 945098 |
| SYSCO Corp., 4.45%, 3/15/2048  | 640000 | &nbsp;&nbsp; 548515 |
|  |  | &nbsp;&nbsp; $15916532 |
| Gaming & Lodging – 0.4% | Gaming & Lodging – 0.4% | Gaming & Lodging – 0.4% |
| Flutter Treasury DAC, 6.375%, 4/29/2029 (n) | $709000 | &nbsp;&nbsp; $728495 |
| Flutter Treasury DAC, 5.875%, 6/04/2031 (n) | 1257000 | &nbsp;&nbsp; 1253398 |
| Las Vegas Sands Corp., 5.9%, 6/01/2027  | 297000 | &nbsp;&nbsp; 302195 |
| Las Vegas Sands Corp., 6.2%, 8/15/2034  | 594000 | &nbsp;&nbsp; 627239 |
| Marriott International, Inc., 2.85%, 4/15/2031  | 646000 | &nbsp;&nbsp; 604853 |
| Marriott International, Inc., 3.5%, 10/15/2032  | 347000 | &nbsp;&nbsp; 327746 |
| Sands China Ltd., 2.85%, 3/08/2029  | 1094000 | &nbsp;&nbsp; 1046997 |
| Sands China Ltd., 3.25%, 8/08/2031  | 1670000 | &nbsp;&nbsp; 1555282 |
| VICI Properties LP/VICI Note Co., Inc., 4.25%, 12/01/2026 (n) | 688000 | &nbsp;&nbsp; 686937 |
| Wynn Macau Ltd., 6.75%, 2/15/2034 (n) | 707000 | &nbsp;&nbsp; 716608 |
|  |  | &nbsp;&nbsp; $7849750 |
| Industrial – 0.1% | Industrial – 0.1% | Industrial – 0.1% |
| Bidvest Group (UK) PLC, 6.2%, 9/17/2032 (n) | $691000 | &nbsp;&nbsp; $706188 |
| Booz Allen Hamilton, Inc., 5.95%, 4/15/2035  | 734000 | &nbsp;&nbsp; 744583 |
|  |  | &nbsp;&nbsp; $1450771 |
| Insurance – 0.3% | Insurance – 0.3% | Insurance – 0.3% |
| Corebridge Financial, Inc., 3.9%, 4/05/2032  | $608000 | &nbsp;&nbsp; $577401 |
| Corebridge Financial, Inc., 4.35%, 4/05/2042  | 949000 | &nbsp;&nbsp; 808332 |
| Corebridge Global Funding, 4.9%, 8/21/2032 (n) | 643000 | &nbsp;&nbsp; 647764 |
| Lincoln National Corp., 5.852%, 3/15/2034  | 665000 | &nbsp;&nbsp; 685939 |
| Northwestern Mutual Life Insurance Co., 6.17%, 5/29/2055 (n) | 872000 | &nbsp;&nbsp; 940868 |
| Pacific Life Insurance Co., 5.95%, 9/15/2055 (n) | 1094000 | &nbsp;&nbsp; 1111349 |
| Sammons Financial Group, Inc., 4.75%, 4/08/2032 (n) | 859000 | &nbsp;&nbsp; 838950 |
|  |  | &nbsp;&nbsp; $5610603 |
| Insurance - Health – 0.2% | Insurance - Health – 0.2% | Insurance - Health – 0.2% |
| Elevance Health, Inc., 5.65%, 6/15/2054  | $641000 | &nbsp;&nbsp; $625904 |
| Humana, Inc., 5.375%, 4/15/2031  | 435000 | &nbsp;&nbsp; 448300 |
| Humana, Inc., 5.55%, 5/01/2035  | 429000 | &nbsp;&nbsp; 436543 |
| Humana, Inc., 4.95%, 10/01/2044  | 560000 | &nbsp;&nbsp; 487814 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Insurance - Health – continued | Insurance - Health – continued | Insurance - Health – continued |
| UnitedHealth Group, Inc., 5.3%, 2/15/2030  | $584000 | &nbsp;&nbsp; $610934 |
| UnitedHealth Group, Inc., 2.3%, 5/15/2031  | 599000 | &nbsp;&nbsp; 546988 |
| UnitedHealth Group, Inc., 5.5%, 7/15/2044  | 529000 | &nbsp;&nbsp; 526908 |
| UnitedHealth Group, Inc., 5.875%, 2/15/2053  | 776000 | &nbsp;&nbsp; 789192 |
|  |  | &nbsp;&nbsp; $4472583 |
| Insurance - Property & Casualty – 0.4% | Insurance - Property & Casualty – 0.4% | Insurance - Property & Casualty – 0.4% |
| American International Group, Inc., 4.85%, 5/07/2030  | $273000 | &nbsp;&nbsp; $280103 |
| American International Group, Inc., 5.125%, 3/27/2033  | 1059000 | &nbsp;&nbsp; 1091477 |
| Arthur J. Gallagher & Co., 6.5%, 2/15/2034  | 751000 | &nbsp;&nbsp; 828164 |
| Arthur J. Gallagher & Co., 6.75%, 2/15/2054  | 1046000 | &nbsp;&nbsp; 1144152 |
| Brown & Brown, Inc., 5.25%, 6/23/2032  | 317000 | &nbsp;&nbsp; 322967 |
| Brown & Brown, Inc., 6.25%, 6/23/2055  | 154000 | &nbsp;&nbsp; 157274 |
| Fairfax Financial Holdings Ltd., 3.375%, 3/03/2031  | 853000 | &nbsp;&nbsp; 813077 |
| Fairfax Financial Holdings Ltd., 5.625%, 8/16/2032  | 437000 | &nbsp;&nbsp; 457823 |
| Fairfax Financial Holdings Ltd., 6.5%, 5/20/2055  | 888000 | &nbsp;&nbsp; 947609 |
| Marsh & McLennan Cos., Inc., 4.85%, 11/15/2031  | 799000 | &nbsp;&nbsp; 822059 |
| Marsh & McLennan Cos., Inc., 2.9%, 12/15/2051  | 902000 | &nbsp;&nbsp; 573399 |
| Marsh & McLennan Cos., Inc., 5.4%, 3/15/2055  | 758000 | &nbsp;&nbsp; 726335 |
|  |  | &nbsp;&nbsp; $8164439 |
| International Market Quasi-Sovereign – 0.2% | International Market Quasi-Sovereign – 0.2% | International Market Quasi-Sovereign – 0.2% |
| Israel Electric Corp. Ltd., 5.633%, 1/28/2038 (n) | $721000 | &nbsp;&nbsp; $732347 |
| NBN Co. Ltd. (Commonwealth of Australia), 5.75%, 10/06/2028 (n) | 1470000 | &nbsp;&nbsp; 1535812 |
| Ontario Teachers' Cadillac Fairview Properties, 2.5%, 10/15/2031 (n) | 1421000 | &nbsp;&nbsp; 1290031 |
|  |  | &nbsp;&nbsp; $3558190 |
| International Market Sovereign – 0.5% | International Market Sovereign – 0.5% | International Market Sovereign – 0.5% |
| Government of Bermuda, 5%, 7/15/2032 (n) | $3715000 | &nbsp;&nbsp; $3783728 |
| Government of Bermuda, 3.375%, 8/20/2050 (n) | 2322000 | &nbsp;&nbsp; 1634990 |
| State of Israel, 5%, 1/13/2036  | 575000 | &nbsp;&nbsp; 572574 |
| State of Israel, 5.875%, 1/13/2056  | 3608000 | &nbsp;&nbsp; 3584174 |
|  |  | &nbsp;&nbsp; $9575466 |
| Local Authorities – 0.1% | Local Authorities – 0.1% | Local Authorities – 0.1% |
| City of Buenos Aires, 7.8%, 11/26/2033 (n) | $453000 | &nbsp;&nbsp; $463845 |
| Province of Córdoba, 8.6%, 2/03/2035 (n) | 740000 | &nbsp;&nbsp; 720365 |
| Republic of Argentina, 8.1%, 12/11/2034 (n) | 666000 | &nbsp;&nbsp; 651015 |
|  |  | &nbsp;&nbsp; $1835225 |
| Machinery & Tools – 0.1% | Machinery & Tools – 0.1% | Machinery & Tools – 0.1% |
| Ashtead Capital, Inc., 4.375%, 8/15/2027 (n) | $408000 | &nbsp;&nbsp; $407285 |
| Ashtead Capital, Inc., 5.55%, 5/30/2033 (n) | 839000 | &nbsp;&nbsp; 877890 |
| CNH Industrial Capital LLC, 5.5%, 1/12/2029  | 665000 | &nbsp;&nbsp; 689891 |
|  |  | &nbsp;&nbsp; $1975066 |
| Major Banks – 2.4% | Major Banks – 2.4% | Major Banks – 2.4% |
| Bank of America Corp., 3.419% to 12/20/2027, FLR ((SOFR - 3mo. + 0.26161%) + 1.04%) to 12/20/2028  | $2164000 | &nbsp;&nbsp; $2141620 |
| Bank of America Corp., 5.819% to 9/15/2028, FLR (SOFR - 1 day + 1.57%) to 9/15/2029  | 989000 | &nbsp;&nbsp; 1031442 |
| Bank of America Corp., 2.687% to 4/22/2031, FLR (SOFR - 1 day + 1.32%) to 4/22/2032  | 2851000 | &nbsp;&nbsp; 2639802 |
| BNP Paribas, 6.875% to 12/15/2033, FLR (CMT - 5yr. + 2.853%) to 6/15/2174 (n) | 732000 | &nbsp;&nbsp; 735863 |
| Commonwealth Bank of Australia, 3.61% to 9/12/2029, FLR (CMT - 1yr. + 2.05%) to 9/12/2034 (n) | 818000 | &nbsp;&nbsp; 797195 |
| Commonwealth Bank of Australia, 3.305%, 3/11/2041 (n) | 1351000 | &nbsp;&nbsp; 1077975 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Major Banks – continued | Major Banks – continued | Major Banks – continued |
| Deutsche Bank AG, 5.706% to 2/08/2027, FLR (SOFR - 1 day + 1.594%) to 2/08/2028  | $1091000 | &nbsp;&nbsp; $1107163 |
| Deutsche Bank AG, 5.373% to 1/10/2028, FLR (SOFR - 1 day + 1.21%) to 1/10/2029  | 1059000 | &nbsp;&nbsp; 1082291 |
| Deutsche Bank AG, 4.95% to 8/04/2030, FLR (SOFR - 1 day + 1.3%) to 8/04/2031  | 484000 | &nbsp;&nbsp; 492939 |
| Goldman Sachs Group, Inc., 4.692% to 10/23/2029, FLR (SOFR - 1 day + 1.135%) to 10/23/2030  | 704000 | &nbsp;&nbsp; 715461 |
| Goldman Sachs Group, Inc., 5.016% to 10/23/2034, FLR (SOFR - 1 day + 1.42%) to 10/23/2035  | 1108000 | &nbsp;&nbsp; 1119485 |
| Goldman Sachs Group, Inc., 5.065% to 1/21/2036, FLR (SOFR - 1 day + 1.19%) to 1/21/2037  | 840000 | &nbsp;&nbsp; 845908 |
| HSBC Holdings PLC, 5.13% to 3/03/2030, FLR (SOFR - 1 day + 1.29%) to 3/03/2031  | 596000 | &nbsp;&nbsp; 614969 |
| HSBC Holdings PLC, 2.357% to 8/18/2030, FLR (SOFR - 1 day + 1.947%) to 8/18/2031  | 804000 | &nbsp;&nbsp; 740030 |
| JPMorgan Chase & Co., 5.581% to 4/22/2029, FLR (SOFR - 1 day + 1.16%) to 4/22/2030  | 788000 | &nbsp;&nbsp; 822995 |
| JPMorgan Chase & Co., 2.545% to 11/08/2031, FLR (SOFR - 1 day + 1.18%) to 11/08/2032  | 3984000 | &nbsp;&nbsp; 3628492 |
| JPMorgan Chase & Co., 5.336% to 1/23/2034, FLR (SOFR - 1 day + 1.62%) to 1/23/2035  | 675000 | &nbsp;&nbsp; 703498 |
| JPMorgan Chase & Co., 4.946% to 10/22/2034, FLR (SOFR - 1 day + 1.34%) to 10/22/2035  | 499000 | &nbsp;&nbsp; 506749 |
| JPMorgan Chase & Co., 4.898% to 1/22/2036, FLR (SOFR - 1 day + 1.07%) to 1/22/2037  | 1132000 | &nbsp;&nbsp; 1138782 |
| Mitsubishi UFJ Financial Group, Inc., 1.64% to 10/13/2026, FLR (CMT - 1yr. + 0.67%) to 10/13/2027  | 2438000 | &nbsp;&nbsp; 2404442 |
| Mitsubishi UFJ Financial Group, Inc., 2.494% to 10/13/2031, FLR (CMT - 1yr. + 0.97%) to 10/13/2032  | 2319000 | &nbsp;&nbsp; 2105661 |
| Morgan Stanley, 5.449% to 7/20/2028, FLR (SOFR - 1 day + 1.63%) to 7/20/2029  | 705000 | &nbsp;&nbsp; 726977 |
| Morgan Stanley, 5.424% to 7/21/2033, FLR (SOFR - 1 day + 1.88%) to 7/21/2034  | 1119000 | &nbsp;&nbsp; 1168716 |
| Morgan Stanley, 5.073% to 1/30/2036, FLR (SOFR - 1 day + 1.184%) to 1/30/2037  | 1580000 | &nbsp;&nbsp; 1593468 |
| National Australia Bank Ltd., 3.347% to 1/12/2032, FLR (CMT - 5yr. + 1.7%) to 1/12/2037 (n) | 1931000 | &nbsp;&nbsp; 1791472 |
| Nationwide Building Society, 4.351%, 9/30/2030 (n) | 1019000 | &nbsp;&nbsp; 1026533 |
| Nordea Bank Abp, 1.5%, 9/30/2026 (n) | 1837000 | &nbsp;&nbsp; 1812117 |
| PNC Financial Services Group, Inc., 5.3% to 1/21/2027, FLR (SOFR - 1 day + 1.342%) to 1/21/2028  | 686000 | &nbsp;&nbsp; 694226 |
| PNC Financial Services Group, Inc., 5.676% to 1/22/2034, FLR (SOFR - 1 day + 1.902%) to 1/22/2035  | 698000 | &nbsp;&nbsp; 740824 |
| PNC Financial Services Group, Inc., 5.575% to 1/29/2035, FLR (SOFR - 1 day + 1.394%) to 1/29/2036  | 292000 | &nbsp;&nbsp; 307321 |
| Sumitomo Mitsui Financial Group, Inc., 1.71%, 1/12/2031  | 2461000 | &nbsp;&nbsp; 2194055 |
| Toronto-Dominion Bank, 4.693%, 9/15/2027  | 552000 | &nbsp;&nbsp; 559203 |
| UBS Group AG, 5.58%, 5/09/2036 (n) | 2681000 | &nbsp;&nbsp; 2790876 |
| UBS Group AG, 3.179% to 2/11/2042, FLR (CMT - 1yr. + 1.1%) to 2/11/2043 (n) | 1759000 | &nbsp;&nbsp; 1353043 |
| UBS Group AG, 7% to 8/05/2035, FLR (USD SOFR ICE Swap Rate - 5yr. + 3.296%) to 8/05/2172 (n) | 613000 | &nbsp;&nbsp; 622659 |
| UniCredit S.p.A., 1.982% to 6/03/2026, FLR (CMT - 1yr. + 1.2%) to 6/03/2027 (n) | 817000 | &nbsp;&nbsp; 812567 |
| Wells Fargo & Co., 5.574% to 7/25/2028, FLR (SOFR - 1 day + 1.74%) to 7/25/2029  | 569000 | &nbsp;&nbsp; 588660 |
|  |  | &nbsp;&nbsp; $45235479 |
| Medical & Health Technology & Services – 0.5% | Medical & Health Technology & Services – 0.5% | Medical & Health Technology & Services – 0.5% |
| Alcon Finance Corp., 2.75%, 9/23/2026 (n) | $2224000 | &nbsp;&nbsp; $2208621 |
| Baxter International, Inc., 4.9%, 12/15/2030  | 255000 | &nbsp;&nbsp; 256617 |
| Baxter International, Inc., 5.65%, 12/15/2035  | 360000 | &nbsp;&nbsp; 366076 |
| CommonSpirit Health, 5.662%, 9/01/2055  | 475000 | &nbsp;&nbsp; 476460 |
| HCA, Inc., 4.9%, 11/15/2035  | 805000 | &nbsp;&nbsp; 801647 |
| HCA, Inc., 5.7%, 11/15/2055  | 541000 | &nbsp;&nbsp; 520857 |
| ICON Investments Six DAC, 5.809%, 5/08/2027  | 1724000 | &nbsp;&nbsp; 1739412 |
| Marin General Hospital, 7.242%, 8/01/2045  | 839000 | &nbsp;&nbsp; 938572 |
| Thermo Fisher Scientific, Inc., 4.977%, 8/10/2030  | 581000 | &nbsp;&nbsp; 604492 |
| Thermo Fisher Scientific, Inc., 4.473%, 10/07/2032  | 1053000 | &nbsp;&nbsp; 1064904 |
| Thermo Fisher Scientific, Inc., 2.8%, 10/15/2041  | 832000 | &nbsp;&nbsp; 625946 |
|  |  | &nbsp;&nbsp; $9603604 |
| Medical Equipment – 0.2% | Medical Equipment – 0.2% | Medical Equipment – 0.2% |
| Abbott Laboratories, 4.65%, 3/15/2036 (w) | $1173000 | &nbsp;&nbsp; $1173354 |
| Danaher Corp., 2.6%, 10/01/2050  | 1499000 | &nbsp;&nbsp; 928948 |
| Stryker Corp., 4.625%, 9/11/2034  | 1207000 | &nbsp;&nbsp; 1211407 |
|  |  | &nbsp;&nbsp; $3313709 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Metals & Mining – 0.1% | Metals & Mining – 0.1% | Metals & Mining – 0.1% |
| First Quantum Minerals Ltd., 8%, 3/01/2033 (n) | $329000 | &nbsp;&nbsp; $351245 |
| Glencore Finance Co., 5.55%, 10/25/2042 (n) | 63000 | &nbsp;&nbsp; 63121 |
| Rio Tinto Finance (USA) PLC, 5%, 3/14/2032  | 175000 | &nbsp;&nbsp; 181882 |
| Samarco Mineracao S.A., 9% (4% Cash + 5% PIK) to 12/30/2026, (5.5% Cash + 3.5% PIK) to 12/30/2027, 9.25% Cash to <br> 12/30/29, 9.5% Cash to 6/30/2031 (n)(p)<br>| 1194036 | &nbsp;&nbsp; 1187946 |
| Vale Overseas Ltd., 6.4%, 6/28/2054  | 443000 | &nbsp;&nbsp; 464663 |
|  |  | &nbsp;&nbsp; $2248857 |
| Midstream – 0.5% | Midstream – 0.5% | Midstream – 0.5% |
| Cheniere Energy Partners, L.P., 5.55%, 10/30/2035  | $944000 | &nbsp;&nbsp; $979617 |
| Columbia Pipelines Holdings Co. LLC, 6.055%, 8/15/2026 (n) | 313000 | &nbsp;&nbsp; 315101 |
| Columbia Pipelines Operating Co. LLC, 6.497%, 8/15/2043 (n) | 781000 | &nbsp;&nbsp; 843876 |
| Columbia Pipelines Operating Co. LLC, 6.544%, 11/15/2053 (n) | 263000 | &nbsp;&nbsp; 286821 |
| Eastern Energy Gas Holdings LLC, 5.65%, 10/15/2054  | 1216000 | &nbsp;&nbsp; 1201230 |
| Energy Transfer LP, 4%, 10/01/2027  | 600000 | &nbsp;&nbsp; 600674 |
| Energy Transfer LP, 5.95%, 5/15/2054  | 900000 | &nbsp;&nbsp; 868874 |
| Enterprise Products Operating LLC, 4.85%, 1/31/2034  | 958000 | &nbsp;&nbsp; 979686 |
| Galaxy Pipeline Assets Bidco Ltd., 1.75%, 9/30/2027 (n) | 512493 | &nbsp;&nbsp; 502920 |
| Galaxy Pipeline Assets Bidco Ltd., 2.625%, 3/31/2036 (n) | 597000 | &nbsp;&nbsp; 530922 |
| Plains All American Pipeline LP, 5.95%, 6/15/2035  | 1317000 | &nbsp;&nbsp; 1391448 |
| Plains All American Pipeline LP, 5.6%, 1/15/2036  | 485000 | &nbsp;&nbsp; 497212 |
| Targa Resources Corp., 4.95%, 4/15/2052  | 1424000 | &nbsp;&nbsp; 1234083 |
|  |  | &nbsp;&nbsp; $10232464 |
| Mortgage-Backed – 5.6% | Mortgage-Backed – 5.6% |  |
| Fannie Mae, 3%, 11/01/2028 - 5/01/2052  | $2042187 | &nbsp;&nbsp; $1937278 |
| Fannie Mae, 3.5%, 1/25/2030 - 12/01/2047  | 2435569 | &nbsp;&nbsp; 2360442 |
| Fannie Mae, 2.5%, 11/01/2031 - 10/01/2046  | 746958 | &nbsp;&nbsp; 695076 |
| Fannie Mae, 3.5%, 12/25/2031 - 2/25/2036 (i) | 230935 | &nbsp;&nbsp; 15566 |
| Fannie Mae, 6.5%, 1/01/2033 - 10/01/2037  | 28085 | &nbsp;&nbsp; 29399 |
| Fannie Mae, 3%, 2/25/2033 (i) | 326161 | &nbsp;&nbsp; 21496 |
| Fannie Mae, 5.5%, 5/01/2033 - 5/01/2044  | 1560360 | &nbsp;&nbsp; 1624484 |
| Fannie Mae, 5%, 11/01/2033 - 3/25/2042  | 2069732 | &nbsp;&nbsp; 2131454 |
| Fannie Mae, 4.5%, 3/01/2034 - 11/25/2042  | 1019577 | &nbsp;&nbsp; 1033090 |
| Fannie Mae, 4.232%, 4/25/2034 - 11/25/2046  | 784539 | &nbsp;&nbsp; 780807 |
| Fannie Mae, 6%, 8/01/2034 - 8/01/2054  | 128034 | &nbsp;&nbsp; 133132 |
| Fannie Mae, 4%, 9/01/2040 - 7/01/2043  | 2773772 | &nbsp;&nbsp; 2759203 |
| Fannie Mae, 1%, 3/25/2041  | 202173 | &nbsp;&nbsp; 182048 |
| Fannie Mae, 4.132%, 3/25/2041  | 30174 | &nbsp;&nbsp; 30104 |
| Fannie Mae, 2.25%, 4/25/2041  | 335339 | &nbsp;&nbsp; 325453 |
| Fannie Mae, 4.282%, 7/25/2041  | 33411 | &nbsp;&nbsp; 33325 |
| Fannie Mae, 2%, 8/25/2044  | 156932 | &nbsp;&nbsp; 148449 |
| Fannie Mae, 4.082%, 12/25/2045  | 79914 | &nbsp;&nbsp; 79141 |
| Fannie Mae, 2%, 9/25/2050 (i) | 281588 | &nbsp;&nbsp; 37881 |
| Fannie Mae, 4%, 9/25/2050 (i) | 409981 | &nbsp;&nbsp; 78423 |
| Fannie Mae, 2.5%, 2/25/2051 (i) | 177173 | &nbsp;&nbsp; 25308 |
| Fannie Mae, 5.117%, 11/25/2053  | 553299 | &nbsp;&nbsp; 562686 |
| Fannie Mae, 5.667%, 11/25/2053  | 391945 | &nbsp;&nbsp; 400651 |
| Fannie Mae, 4.567%, 12/25/2053  | 167247 | &nbsp;&nbsp; 168164 |
| Fannie Mae, 4.817%, 6/25/2054 - 10/25/2054  | 455977 | &nbsp;&nbsp; 459490 |
| Fannie Mae, 6.667%, 7/25/2054  | 397532 | &nbsp;&nbsp; 411694 |
| Fannie Mae, 4.667%, 12/25/2054  | 860281 | &nbsp;&nbsp; 865563 |
| Fannie Mae, 5.067%, 12/25/2054  | 969298 | &nbsp;&nbsp; 980291 |
| Fannie Mae, 6.107%, 3/25/2055  | 560181 | &nbsp;&nbsp; 567953 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Mortgage-Backed – continued | Mortgage-Backed – continued |  |
| Fannie Mae, UMBS, 2.5%, 8/01/2036 - 9/01/2052  | $8372519 | &nbsp;&nbsp; $7384697 |
| Fannie Mae, UMBS, 5.5%, 8/01/2038 - 5/01/2053  | 1225637 | &nbsp;&nbsp; 1258325 |
| Fannie Mae, UMBS, 1.5%, 2/01/2042 - 9/01/2051  | 1808779 | &nbsp;&nbsp; 1440173 |
| Fannie Mae, UMBS, 2%, 2/01/2042 - 2/01/2052  | 3326016 | &nbsp;&nbsp; 2813743 |
| Fannie Mae, UMBS, 3.5%, 5/01/2049  | 346584 | &nbsp;&nbsp; 333854 |
| Fannie Mae, UMBS, 3%, 8/01/2050 - 8/01/2052  | 3427537 | &nbsp;&nbsp; 3116141 |
| Fannie Mae, UMBS, 4%, 8/01/2051 - 5/01/2052  | 699311 | &nbsp;&nbsp; 687829 |
| Fannie Mae, UMBS, 4.5%, 7/01/2052 - 9/01/2052  | 299243 | &nbsp;&nbsp; 298056 |
| Fannie Mae, UMBS, 5%, 8/01/2052 - 3/01/2053  | 1997678 | &nbsp;&nbsp; 2016618 |
| Fannie Mae, UMBS, 6.5%, 6/01/2053 - 1/01/2054  | 575809 | &nbsp;&nbsp; 598100 |
| Fannie Mae, UMBS, 6%, 9/01/2053 - 11/01/2054  | 2585828 | &nbsp;&nbsp; 2663027 |
| Freddie Mac, 2.797%, 12/25/2026  | 84967 | &nbsp;&nbsp; 84741 |
| Freddie Mac, 1.373%, 3/25/2027 (i) | 2188000 | &nbsp;&nbsp; 27380 |
| Freddie Mac, 0.561%, 7/25/2027 (i) | 42296493 | &nbsp;&nbsp; 260056 |
| Freddie Mac, 0.403%, 8/25/2027 (i) | 31483648 | &nbsp;&nbsp; 172279 |
| Freddie Mac, 0.357%, 12/25/2027 (i) | 201222 | &nbsp;&nbsp; 1216 |
| Freddie Mac, 0.294%, 1/25/2028 (i) | 57263963 | &nbsp;&nbsp; 296925 |
| Freddie Mac, 0.3%, 1/25/2028 (i) | 24019270 | &nbsp;&nbsp; 125448 |
| Freddie Mac, 0.128%, 2/25/2028 (i) | 73218279 | &nbsp;&nbsp; 200120 |
| Freddie Mac, 0.107%, 4/25/2028 (i) | 47480114 | &nbsp;&nbsp; 132432 |
| Freddie Mac, 0.424%, 10/25/2028 (i) | 6092850 | &nbsp;&nbsp; 67110 |
| Freddie Mac, 0.415%, 5/25/2029 (i) | 6539243 | &nbsp;&nbsp; 84955 |
| Freddie Mac, 1.005%, 7/25/2029 (i) | 4906286 | &nbsp;&nbsp; 128629 |
| Freddie Mac, 1.081%, 7/25/2029 (i) | 7811721 | &nbsp;&nbsp; 252798 |
| Freddie Mac, 1.135%, 8/25/2029 (i) | 13795100 | &nbsp;&nbsp; 481871 |
| Freddie Mac, 0.558%, 1/25/2030 (i) | 2647579 | &nbsp;&nbsp; 54897 |
| Freddie Mac, 1.314%, 1/25/2030 (i) | 4046539 | &nbsp;&nbsp; 185047 |
| Freddie Mac, 1.796%, 4/25/2030 (i) | 3344437 | &nbsp;&nbsp; 220532 |
| Freddie Mac, 1.839%, 4/25/2030 (i) | 8166315 | &nbsp;&nbsp; 560560 |
| Freddie Mac, 1.666%, 5/25/2030 (i) | 4373949 | &nbsp;&nbsp; 278128 |
| Freddie Mac, 1.798%, 5/25/2030 (i) | 9928903 | &nbsp;&nbsp; 685912 |
| Freddie Mac, 5.5%, 6/01/2030 - 9/01/2041  | 540841 | &nbsp;&nbsp; 563998 |
| Freddie Mac, 1.109%, 6/25/2030 (i) | 3057786 | &nbsp;&nbsp; 124512 |
| Freddie Mac, 1.34%, 6/25/2030 (i) | 3957955 | &nbsp;&nbsp; 205046 |
| Freddie Mac, 1.597%, 8/25/2030 (i) | 3506241 | &nbsp;&nbsp; 222020 |
| Freddie Mac, 1.168%, 9/25/2030 (i) | 2193674 | &nbsp;&nbsp; 104922 |
| Freddie Mac, 0.319%, 1/25/2031 (i) | 12588058 | &nbsp;&nbsp; 153161 |
| Freddie Mac, 0.779%, 1/25/2031 (i) | 4987462 | &nbsp;&nbsp; 178384 |
| Freddie Mac, 0.355%, 2/25/2031 (i) | 2871045 | &nbsp;&nbsp; 57061 |
| Freddie Mac, 1.214%, 7/25/2031 (i) | 3953830 | &nbsp;&nbsp; 232596 |
| Freddie Mac, 0.854%, 9/25/2031 (i) | 5826990 | &nbsp;&nbsp; 239939 |
| Freddie Mac, 0.321%, 6/25/2032 (i) | 17860106 | &nbsp;&nbsp; 343069 |
| Freddie Mac, 4.123%, 10/15/2032  | 24793 | &nbsp;&nbsp; 24781 |
| Freddie Mac, 0.154%, 11/25/2032 (i) | 11453817 | &nbsp;&nbsp; 141267 |
| Freddie Mac, 0.265%, 5/25/2033 (i) | 2600000 | &nbsp;&nbsp; 53026 |
| Freddie Mac, 3.5%, 8/15/2033 - 10/25/2058  | 2899027 | &nbsp;&nbsp; 2822721 |
| Freddie Mac, 0.129%, 8/25/2033 (i) | 12475897 | &nbsp;&nbsp; 149831 |
| Freddie Mac, 0.176%, 10/25/2033 (i) | 11781459 | &nbsp;&nbsp; 188992 |
| Freddie Mac, 5%, 5/01/2034 - 12/01/2044  | 1024347 | &nbsp;&nbsp; 1054836 |
| Freddie Mac, 6%, 8/01/2034 - 10/01/2038  | 333823 | &nbsp;&nbsp; 351786 |
| Freddie Mac, 0.905%, 9/25/2034 (i) | 1508629 | &nbsp;&nbsp; 102540 |
| Freddie Mac, 0.055%, 1/25/2035 (i) | 17854931 | &nbsp;&nbsp; 161864 |
| Freddie Mac, 0.246%, 1/25/2035 (i) | 6569974 | &nbsp;&nbsp; 148888 |
| Freddie Mac, 3.972%, 4/15/2035  | 14814 | &nbsp;&nbsp; 14745 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Mortgage-Backed – continued | Mortgage-Backed – continued |  |
| Freddie Mac, 5.5%, 2/15/2036 (i) | $94957 | &nbsp;&nbsp; $14269 |
| Freddie Mac, 6.5%, 5/01/2037  | 3404 | &nbsp;&nbsp; 3563 |
| Freddie Mac, 4%, 8/01/2037 - 4/15/2044  | 1465196 | &nbsp;&nbsp; 1464751 |
| Freddie Mac, 4.473%, 5/15/2039  | 26449 | &nbsp;&nbsp; 26581 |
| Freddie Mac, 4.5%, 7/01/2039 - 5/01/2042  | 574348 | &nbsp;&nbsp; 582183 |
| Freddie Mac, 3%, 7/15/2039 - 10/01/2046  | 2448735 | &nbsp;&nbsp; 2298313 |
| Freddie Mac, 4.5%, 12/15/2040 (i) | 13354 | &nbsp;&nbsp; 1243 |
| Freddie Mac, 4.173%, 8/15/2046  | 41931 | &nbsp;&nbsp; 41651 |
| Freddie Mac, 2.5%, 11/25/2050 - 3/25/2051 (i) | 1484008 | &nbsp;&nbsp; 240720 |
| Freddie Mac, 3%, 10/25/2052 (i) | 164881 | &nbsp;&nbsp; 26479 |
| Freddie Mac, 5.117%, 10/25/2053  | 63662 | &nbsp;&nbsp; 64742 |
| Freddie Mac, 5.897%, 12/25/2053  | 532961 | &nbsp;&nbsp; 535338 |
| Freddie Mac, 4.967%, 1/25/2054 - 12/25/2054  | 1017239 | &nbsp;&nbsp; 1028286 |
| Freddie Mac, 4.767%, 9/25/2054  | 849837 | &nbsp;&nbsp; 856167 |
| Freddie Mac, 5.167%, 12/25/2054  | 1267096 | &nbsp;&nbsp; 1284392 |
| Freddie Mac, 6.117%, 1/25/2055  | 336123 | &nbsp;&nbsp; 339564 |
| Freddie Mac, 7.617%, 9/25/2055  | 94005 | &nbsp;&nbsp; 98128 |
| Freddie Mac, 2.327%, 8/15/2057 (i) | 288830 | &nbsp;&nbsp; 42244 |
| Freddie Mac, 3.25%, 11/25/2061  | 711054 | &nbsp;&nbsp; 672691 |
| Freddie Mac, UMBS, 2.5%, 3/01/2037 - 9/01/2052  | 1769618 | &nbsp;&nbsp; 1564056 |
| Freddie Mac, UMBS, 2%, 2/01/2042 - 2/01/2052  | 3729069 | &nbsp;&nbsp; 3139380 |
| Freddie Mac, UMBS, 3%, 3/01/2047 - 9/01/2052  | 2477404 | &nbsp;&nbsp; 2277531 |
| Freddie Mac, UMBS, 1.5%, 11/01/2051  | 33643 | &nbsp;&nbsp; 26715 |
| Freddie Mac, UMBS, 3.5%, 5/01/2052  | 119511 | &nbsp;&nbsp; 113747 |
| Freddie Mac, UMBS, 4%, 5/01/2052  | 554845 | &nbsp;&nbsp; 543153 |
| Freddie Mac, UMBS, 6%, 10/01/2052 - 7/01/2054  | 1329725 | &nbsp;&nbsp; 1364917 |
| Freddie Mac, UMBS, 5.5%, 12/01/2052 - 4/01/2053  | 712150 | &nbsp;&nbsp; 730770 |
| Freddie Mac, UMBS, 6.5%, 11/01/2054  | 350814 | &nbsp;&nbsp; 368093 |
| Ginnie Mae, 3.5%, 8/20/2029 - 1/20/2043 (i) | 888374 | &nbsp;&nbsp; 98599 |
| Ginnie Mae, 5.5%, 5/15/2033 - 2/20/2053  | 2561894 | &nbsp;&nbsp; 2611187 |
| Ginnie Mae, 4.5%, 7/20/2033 - 9/20/2052  | 4359696 | &nbsp;&nbsp; 4369366 |
| Ginnie Mae, 5.649%, 8/20/2034  | 193392 | &nbsp;&nbsp; 198304 |
| Ginnie Mae, 4%, 5/16/2039 - 7/20/2052  | 876360 | &nbsp;&nbsp; 861303 |
| Ginnie Mae, 5%, 8/20/2039 - 1/20/2053  | 968401 | &nbsp;&nbsp; 982945 |
| Ginnie Mae, 4%, 12/20/2039 - 8/16/2042 (i) | 269538 | &nbsp;&nbsp; 36975 |
| Ginnie Mae, 3.882%, 9/20/2041  | 999351 | &nbsp;&nbsp; 983726 |
| Ginnie Mae, 3.5%, 12/15/2041 - 4/20/2047  | 2157507 | &nbsp;&nbsp; 2088984 |
| Ginnie Mae, 2.5%, 6/20/2042 - 4/20/2052  | 4265715 | &nbsp;&nbsp; 3768699 |
| Ginnie Mae, 3%, 4/20/2045 - 9/20/2047  | 1581925 | &nbsp;&nbsp; 1473181 |
| Ginnie Mae, 2.5%, 2/20/2051 (i) | 331966 | &nbsp;&nbsp; 45911 |
| Ginnie Mae, 2%, 3/20/2052  | 150872 | &nbsp;&nbsp; 127836 |
| Ginnie Mae, 5.062%, 9/20/2053  | 1037630 | &nbsp;&nbsp; 1058605 |
| Ginnie Mae, 4.961%, 10/20/2053  | 1004491 | &nbsp;&nbsp; 1016235 |
| Ginnie Mae, 5.012%, 10/20/2053  | 979719 | &nbsp;&nbsp; 992346 |
| Ginnie Mae, 4.762%, 11/20/2053 - 2/20/2054  | 1761959 | &nbsp;&nbsp; 1777770 |
| Ginnie Mae, 4.862%, 12/20/2053  | 940760 | &nbsp;&nbsp; 949752 |
| Ginnie Mae, 4.711%, 2/20/2054  | 1027511 | &nbsp;&nbsp; 1034787 |
| Ginnie Mae, 4.612%, 3/20/2054  | 190695 | &nbsp;&nbsp; 192210 |
| Ginnie Mae, 4.712%, 10/20/2054  | 501639 | &nbsp;&nbsp; 504306 |
| Ginnie Mae, 4.912%, 4/20/2055  | 322375 | &nbsp;&nbsp; 326545 |
| Ginnie Mae, 7.612%, 5/20/2055  | 236599 | &nbsp;&nbsp; 242770 |
| Ginnie Mae, 6.083%, 6/20/2055  | 585064 | &nbsp;&nbsp; 600565 |
| Ginnie Mae, 6.157%, 6/20/2055  | 397391 | &nbsp;&nbsp; 399035 |
| Ginnie Mae, 1.688%, 7/20/2055 (i) | 380357 | &nbsp;&nbsp; 19330 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Mortgage-Backed – continued | Mortgage-Backed – continued |  |
| Ginnie Mae, 6%, 11/20/2055  | $396937 | &nbsp;&nbsp; $410487 |
| Ginnie Mae, 2.115%, 12/20/2062 (i) | 545792 | &nbsp;&nbsp; 26258 |
| Ginnie Mae, 4.811%, 3/20/2064  | 154439 | &nbsp;&nbsp; 155509 |
| Ginnie Mae, 4.476%, 7/20/2064  | 70924 | &nbsp;&nbsp; 71068 |
| Ginnie Mae, 4.662%, 12/20/2064  | 809866 | &nbsp;&nbsp; 813664 |
| Ginnie Mae, 4.462%, 8/20/2065  | 441997 | &nbsp;&nbsp; 443039 |
| Ginnie Mae, 4.547%, 10/20/2066  | 112012 | &nbsp;&nbsp; 112348 |
| Ginnie Mae, 4.567%, 10/20/2066  | 280647 | &nbsp;&nbsp; 281573 |
| Ginnie Mae, 4.541%, 1/20/2067  | 262354 | &nbsp;&nbsp; 264823 |
| Ginnie Mae, 4.391%, 2/20/2067  | 202765 | &nbsp;&nbsp; 204393 |
| Ginnie Mae, 5.173%, 3/20/2067  | 464900 | &nbsp;&nbsp; 468953 |
| Ginnie Mae, 4.112%, 5/20/2067  | 1006604 | &nbsp;&nbsp; 1006022 |
| Ginnie Mae, 5.281%, 7/20/2067  | 584253 | &nbsp;&nbsp; 591359 |
| Ginnie Mae, 4.247%, 11/20/2067  | 165664 | &nbsp;&nbsp; 165565 |
| Ginnie Mae, 4.992%, 4/20/2068  | 873360 | &nbsp;&nbsp; 880022 |
|  |  | &nbsp;&nbsp; $105835657 |
| Municipals – 0.2% | Municipals – 0.2% | Municipals – 0.2% |
| Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Taxable, "B", 2.746%, 6/01/2034  | $560000 | &nbsp;&nbsp; $508388 |
| Kentucky Higher Education Student Loan Corp. Rev., Taxable, "A-2", 6.195%, 6/01/2040  | 890000 | &nbsp;&nbsp; 945888 |
| Massachusetts Educational Financing Authority, Education Loan Rev., Taxable, "A", 6.352%, 7/01/2049  | 760000 | &nbsp;&nbsp; 802096 |
| New Hampshire National Finance Authority, Utility Refunding Rev., Taxable (Wheeling Power Co. Project), "A", <br> 6.89%, 4/01/2034 <br>| 630000 | &nbsp;&nbsp; 674649 |
|  |  | &nbsp;&nbsp; $2931021 |
| Natural Gas - Distribution – 0.1% | Natural Gas - Distribution – 0.1% | Natural Gas - Distribution – 0.1% |
| Boston Gas Co., 5.843%, 1/10/2035 (n) | $1305000 | &nbsp;&nbsp; $1399300 |
| Network & Telecom – 0.1% | Network & Telecom – 0.1% | Network & Telecom – 0.1% |
| NTT Finance Corp., 5.171%, 7/16/2032 (n) | $1059000 | &nbsp;&nbsp; $1094840 |
| NTT Finance Corp., 5.502%, 7/16/2035 (n) | 716000 | &nbsp;&nbsp; 748047 |
|  |  | &nbsp;&nbsp; $1842887 |
| Oils – 0.1% | Oils – 0.1% | Oils – 0.1% |
| Marathon Petroleum Corp., 5.7%, 3/01/2035  | $428000 | &nbsp;&nbsp; $450820 |
| Raizen Fuels Finance S.A., 6.25%, 7/08/2032 (n) | 1517000 | &nbsp;&nbsp; 713946 |
|  |  | &nbsp;&nbsp; $1164766 |
| Other Banks & Diversified Financials – 1.0% | Other Banks & Diversified Financials – 1.0% | Other Banks & Diversified Financials – 1.0% |
| AIB Group PLC, 6.608% to 9/13/2028, FLR (SOFR - 1 day + 2.33%) to 9/13/2029 (n) | $1421000 | &nbsp;&nbsp; $1504058 |
| Banco de Crédito del Perú, 6.45% to 7/30/2030, FLR (CMT - 5yr. + 2.486%) to 7/30/2035 (n) | 829000 | &nbsp;&nbsp; 864195 |
| Banco GNB Sudameris S.A., 7.5% to 4/16/2026, FLR (CMT - 5yr. + 6.66%) to 4/16/2031 (n) | 602000 | &nbsp;&nbsp; 600451 |
| Banco Internacional del Peru S.A.A. (Interbank), 4.8%, 7/15/2031 (n) | 1216000 | &nbsp;&nbsp; 1219162 |
| Banco Santander Chile, 4.55%, 11/20/2030 (n) | 725000 | &nbsp;&nbsp; 729923 |
| Bangkok Bank Public Co. Ltd. (Hong Kong), 4.507%, 11/26/2030 (n) | 1132000 | &nbsp;&nbsp; 1143832 |
| Bangkok Bank Public Co. Ltd. (Hong Kong), 5.65%, 7/05/2034 (n) | 886000 | &nbsp;&nbsp; 935865 |
| Bangkok Bank Public Co. Ltd. (Hong Kong), 3.733% to 9/25/2029, FLR (CMT - 5yr. + 1.9%) to 9/25/2034  | 1222000 | &nbsp;&nbsp; 1172854 |
| Bank Hapoalim B.M., 4.722%, 7/14/2029 (n) | 1229000 | &nbsp;&nbsp; 1229125 |
| Bank Hapoalim B.M., 5.252%, 1/14/2033 (n) | 685000 | &nbsp;&nbsp; 692444 |
| BBVA Bancomer S.A. (Texas), 8.45% to 6/29/2033, FLR (CMT - 5yr. + 4.661%) to 6/29/2038 (n) | 362000 | &nbsp;&nbsp; 406345 |
| BBVA Bancomer S.A. (Texas), 8.125%, 1/08/2039 (n) | 476000 | &nbsp;&nbsp; 523756 |
| BBVA Mexico S.A., 7.625%, 2/11/2035 (n) | 485000 | &nbsp;&nbsp; 517810 |
| CaixaBank S.A., 6.84% to 9/13/2033, FLR (SOFR - 1 day + 2.77%) to 9/13/2034 (n) | 1234000 | &nbsp;&nbsp; 1385277 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Other Banks & Diversified Financials – continued | Other Banks & Diversified Financials – continued | Other Banks & Diversified Financials – continued |
| Industrial Subordinated Trust 2.0, 6.55% to 4/15/2031, FLR (CMT - 5yr. + 2.864%) to 4/15/2036 (n) | $809000 | &nbsp;&nbsp; $831531 |
| Intesa Sanpaolo S.p.A., 7.2%, 11/28/2033 (n) | 929000 | &nbsp;&nbsp; 1074553 |
| M&T Bank Corp., 7.413% to 10/30/2028, FLR (SOFR - 1 day + 2.80%) to 10/30/2029  | 269000 | &nbsp;&nbsp; 291783 |
| M&T Bank Corp., 5.053% to 1/27/2033, FLR (SOFR - 1 day + 1.850%) to 1/27/2034  | 694000 | &nbsp;&nbsp; 705047 |
| Manufacturers and Traders Trust Co., 4.7%, 1/27/2028  | 588000 | &nbsp;&nbsp; 596710 |
| Mizrahi Tefahot Bank Ltd., 5.837%, 4/15/2036 (n) | 757000 | &nbsp;&nbsp; 776146 |
| NBK SPC Ltd. (State of Kuwait), 5.5% to 6/06/2029, FLR (SOFR - 1 day + 1.16%) to 6/06/2030 (n) | 426000 | &nbsp;&nbsp; 441711 |
| Truist Financial Corp., 7.161% to 10/30/2028, FLR (SOFR - 1 day + 2.446%) to 10/30/2029  | 1016000 | &nbsp;&nbsp; 1093766 |
|  |  | &nbsp;&nbsp; $18736344 |
| Pharmaceuticals – 0.4% | Pharmaceuticals – 0.4% | Pharmaceuticals – 0.4% |
| AbbVie, Inc., 4.75%, 3/15/2036 (w) | $448000 | &nbsp;&nbsp; $450347 |
| AbbVie, Inc., 5.35%, 3/15/2044  | 1232000 | &nbsp;&nbsp; 1235222 |
| AbbVie, Inc., 5.4%, 3/15/2054  | 468000 | &nbsp;&nbsp; 459614 |
| Biocon Biologics Global PLC, 6.67%, 10/09/2029 (n) | 751000 | &nbsp;&nbsp; 760025 |
| Eli Lilly & Co., 4.7%, 2/09/2034  | 1560000 | &nbsp;&nbsp; 1596095 |
| Eli Lilly & Co., 5.5%, 2/12/2055  | 272000 | &nbsp;&nbsp; 274004 |
| Merck & Co., Inc., 4.75%, 12/04/2035  | 1046000 | &nbsp;&nbsp; 1055526 |
| Pfizer Investment Enterprises Pte. Ltd., 5.3%, 5/19/2053  | 324000 | &nbsp;&nbsp; 310222 |
| Pfizer, Inc., 2.55%, 5/28/2040  | 826000 | &nbsp;&nbsp; 619881 |
| Roche Holdings, Inc., 5.338%, 11/13/2028 (n) | 400000 | &nbsp;&nbsp; 416455 |
|  |  | &nbsp;&nbsp; $7177391 |
| Pollution Control – 0.0% | Pollution Control – 0.0% | Pollution Control – 0.0% |
| Ambipar Lux S.à r.l., 10.875%, 2/05/2033 (a)(d)(n) | $488000 | &nbsp;&nbsp; $70760 |
| Precious Metals & Minerals – 0.1% | Precious Metals & Minerals – 0.1% | Precious Metals & Minerals – 0.1% |
| Northern Star Resources Ltd. Co., 6.125%, 4/11/2033 (n) | $1119000 | &nbsp;&nbsp; $1200074 |
| Railroad & Shipping – 0.1% | Railroad & Shipping – 0.1% | Railroad & Shipping – 0.1% |
| Burlington Northern Santa Fe LLC, 5.2%, 4/15/2054  | $1172000 | &nbsp;&nbsp; $1120546 |
| Burlington Northern Santa Fe LLC, 5.5%, 3/15/2055  | 538000 | &nbsp;&nbsp; 537324 |
| Canadian Pacific Railway Co., 3.1%, 12/02/2051  | 1543000 | &nbsp;&nbsp; 1053528 |
|  |  | &nbsp;&nbsp; $2711398 |
| Real Estate - Apartment – 0.1% | Real Estate - Apartment – 0.1% | Real Estate - Apartment – 0.1% |
| American Homes 4 Rent LP, REIT, 5.25%, 3/15/2035  | $1401000 | &nbsp;&nbsp; $1413192 |
| Real Estate - Office – 0.2% | Real Estate - Office – 0.2% | Real Estate - Office – 0.2% |
| Boston Properties LP, REIT, 2.75%, 10/01/2026  | $637000 | &nbsp;&nbsp; $631963 |
| COPT Defense Properties, 4.5%, 10/15/2030  | 337000 | &nbsp;&nbsp; 338471 |
| Corporate Office Property LP, REIT, 2%, 1/15/2029  | 641000 | &nbsp;&nbsp; 605144 |
| Corporate Office Property LP, REIT, 2.75%, 4/15/2031  | 363000 | &nbsp;&nbsp; 335232 |
| Highwoods Realty LP, 5.35%, 1/15/2033  | 1139000 | &nbsp;&nbsp; 1145834 |
|  |  | &nbsp;&nbsp; $3056644 |
| Real Estate - Other – 0.1% | Real Estate - Other – 0.1% | Real Estate - Other – 0.1% |
| Prologis LP, REIT, 5.125%, 1/15/2034  | $954000 | &nbsp;&nbsp; $988848 |
| Real Estate - Retail – 0.2% | Real Estate - Retail – 0.2% | Real Estate - Retail – 0.2% |
| NNN REIT, Inc., 5.6%, 10/15/2033  | $745000 | &nbsp;&nbsp; $785471 |
| Realty Income Corp., REIT, 5.375%, 9/01/2054  | 1145000 | &nbsp;&nbsp; 1123411 |
| STORE Capital Corp., REIT, 4.625%, 3/15/2029  | 325000 | &nbsp;&nbsp; 326500 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Real Estate - Retail – continued | Real Estate - Retail – continued | Real Estate - Retail – continued |
| STORE Capital Corp., REIT, 2.75%, 11/18/2030  | $1205000 | &nbsp;&nbsp; $1108344 |
|  |  | &nbsp;&nbsp; $3343726 |
| Retailers – 0.1% | Retailers – 0.1% | Retailers – 0.1% |
| Alimentation Couche-Tard, Inc., 3.8%, 1/25/2050 (n) | $817000 | &nbsp;&nbsp; $620287 |
| Home Depot, Inc., 3.9%, 6/15/2047  | 1234000 | &nbsp;&nbsp; 995211 |
|  |  | &nbsp;&nbsp; $1615498 |
| Specialty Stores – 0.0% | Specialty Stores – 0.0% | Specialty Stores – 0.0% |
| DICK'S Sporting Goods, 4.1%, 1/15/2052  | $967000 | &nbsp;&nbsp; $704697 |
| Supermarkets – 0.0% | Supermarkets – 0.0% | Supermarkets – 0.0% |
| Kroger Co., 5.5%, 9/15/2054  | $384000 | &nbsp;&nbsp; $371214 |
| Supranational – 0.1% | Supranational – 0.1% | Supranational – 0.1% |
| African Development Bank, 5.875% to 8/07/2035, FLR (CMT - 5yr. + 1.653%) to 8/07/2174  | $821000 | &nbsp;&nbsp; $825237 |
| Corporacion Andina de Fomento, 6.75%, 12/17/2173 (n) | 613000 | &nbsp;&nbsp; 645060 |
|  |  | &nbsp;&nbsp; $1470297 |
| Telecommunications - Wireless – 0.4% | Telecommunications - Wireless – 0.4% | Telecommunications - Wireless – 0.4% |
| American Tower Corp., 5.2%, 2/15/2029  | $541000 | &nbsp;&nbsp; $558622 |
| American Tower Corp., 5.45%, 2/15/2034  | 905000 | &nbsp;&nbsp; 947365 |
| American Tower Corp., 3.7%, 10/15/2049  | 325000 | &nbsp;&nbsp; 245294 |
| Cellnex Finance Co. S.A., 3.875%, 7/07/2041 (n) | 1215000 | &nbsp;&nbsp; 1010545 |
| Crown Castle, Inc., REIT, 3.7%, 6/15/2026  | 986000 | &nbsp;&nbsp; 984935 |
| Liberty Costa Rica Senior Secured Finance, 10.875%, 1/15/2031 (n) | 570000 | &nbsp;&nbsp; 605625 |
| Rogers Communications, Inc., 4.5%, 3/15/2042  | 779000 | &nbsp;&nbsp; 680949 |
| Telefonica Celular del Paraguay S.A., 5.875%, 4/15/2027  | 399000 | &nbsp;&nbsp; 398003 |
| T-Mobile USA, Inc., 2.05%, 2/15/2028  | 563000 | &nbsp;&nbsp; 543786 |
| T-Mobile USA, Inc., 5.05%, 7/15/2033  | 701000 | &nbsp;&nbsp; 723101 |
| T-Mobile USA, Inc., 5.75%, 1/15/2054  | 427000 | &nbsp;&nbsp; 424288 |
| Vodafone Group PLC, 5.625%, 2/10/2053  | 952000 | &nbsp;&nbsp; 925825 |
|  |  | &nbsp;&nbsp; $8048338 |
| Tobacco – 0.1% | Tobacco – 0.1% | Tobacco – 0.1% |
| B.A.T. Capital Corp., 6.343%, 8/02/2030  | $811000 | &nbsp;&nbsp; $881824 |
| Japan Tobacco, Inc., 5.25%, 6/15/2030 (n) | 1013000 | &nbsp;&nbsp; 1057845 |
|  |  | &nbsp;&nbsp; $1939669 |
| Transportation - Services – 0.3% | Transportation - Services – 0.3% | Transportation - Services – 0.3% |
| Adani Ports & Special Economic Zone Ltd., 5%, 8/02/2041 (n) | $865000 | &nbsp;&nbsp; $766335 |
| Aeropuertos Dominicanos Siglo XXI S.A., 7%, 6/30/2034 (n) | 632000 | &nbsp;&nbsp; 667550 |
| Corporación Quiport S.A. (Republic of Ecuador), 9%, 12/15/2037 (n) | 323000 | &nbsp;&nbsp; 352876 |
| Element Fleet Management Corp., 6.319%, 12/04/2028 (n) | 1366000 | &nbsp;&nbsp; 1441228 |
| IRB Infrastructure Developers Ltd., 7.11%, 3/11/2032 (n) | 751000 | &nbsp;&nbsp; 782828 |
| Kingston Airport Revenue Ltd., 6.75%, 12/15/2036 (n) | 447000 | &nbsp;&nbsp; 460812 |
| Montego Bay Airport Revenue Finance Ltd., 6.6%, 6/15/2035 (n) | 543000 | &nbsp;&nbsp; 545444 |
|  |  | &nbsp;&nbsp; $5017073 |
| U.S. Government Agencies and Equivalents – 0.0% | U.S. Government Agencies and Equivalents – 0.0% | U.S. Government Agencies and Equivalents – 0.0% |
| Small Business Administration, 5.16%, 2/01/2028  | $4555 | &nbsp;&nbsp; $4596 |
| Small Business Administration, 2.21%, 2/01/2033  | 46090 | &nbsp;&nbsp; 43687 |
| Small Business Administration, 2.22%, 3/01/2033  | 89613 | &nbsp;&nbsp; 85175 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| U.S. Government Agencies and Equivalents – continued | U.S. Government Agencies and Equivalents – continued | U.S. Government Agencies and Equivalents – continued |
| Small Business Administration, 3.15%, 7/01/2033  | $92129 | &nbsp;&nbsp; $89571 |
| Small Business Administration, 3.16%, 8/01/2033  | 115688 | &nbsp;&nbsp; 112421 |
| Small Business Administration, 3.62%, 9/01/2033  | 86229 | &nbsp;&nbsp; 85509 |
|  |  | &nbsp;&nbsp; $420959 |
| U.S. Treasury Obligations – 4.6% | U.S. Treasury Obligations – 4.6% | U.S. Treasury Obligations – 4.6% |
| U.S. Treasury Bonds, 6.375%, 8/15/2027  | $106000 | &nbsp;&nbsp; $110401 |
| U.S. Treasury Bonds, 5.25%, 2/15/2029 (f) | 2965000 | &nbsp;&nbsp; 3125874 |
| U.S. Treasury Bonds, 2.375%, 2/15/2042  | 5989000 | &nbsp;&nbsp; 4553512 |
| U.S. Treasury Bonds, 3.25%, 5/15/2042  | 1714000 | &nbsp;&nbsp; 1473504 |
| U.S. Treasury Bonds, 2.875%, 5/15/2043  | 6853400 | &nbsp;&nbsp; 5495838 |
| U.S. Treasury Bonds, 4.75%, 11/15/2043  | 2027000 | &nbsp;&nbsp; 2086385 |
| U.S. Treasury Bonds, 4.75%, 2/15/2045  | 5301000 | &nbsp;&nbsp; 5433525 |
| U.S. Treasury Bonds, 5%, 5/15/2045  | 2462000 | &nbsp;&nbsp; 2602603 |
| U.S. Treasury Bonds, 4.875%, 8/15/2045  | 402000 | &nbsp;&nbsp; 418143 |
| U.S. Treasury Bonds, 4.625%, 11/15/2045  | 705000 | &nbsp;&nbsp; 709627 |
| U.S. Treasury Bonds, 2.875%, 11/15/2046 (f) | 2136000 | &nbsp;&nbsp; 1636793 |
| U.S. Treasury Bonds, 4.75%, 8/15/2055  | 955000 | &nbsp;&nbsp; 972459 |
| U.S. Treasury Bonds, 4.75%, 2/15/2056  | 545000 | &nbsp;&nbsp; 555389 |
| U.S. Treasury Notes, 3.5%, 9/30/2027  | 5555000 | &nbsp;&nbsp; 5561076 |
| U.S. Treasury Notes, 3.5%, 10/31/2027  | 6338000 | &nbsp;&nbsp; 6345180 |
| U.S. Treasury Notes, 3.625%, 3/31/2028 (f) | 11275000 | &nbsp;&nbsp; 11327411 |
| U.S. Treasury Notes, 2.375%, 5/15/2029  | 6034500 | &nbsp;&nbsp; 5846629 |
| U.S. Treasury Notes, 3.875%, 9/30/2029  | 4658000 | &nbsp;&nbsp; 4725323 |
| U.S. Treasury Notes, 4.625%, 4/30/2031  | 2748000 | &nbsp;&nbsp; 2886581 |
| U.S. Treasury Notes, 1.625%, 5/15/2031  | 4940000 | &nbsp;&nbsp; 4489611 |
| U.S. Treasury Notes, 1.875%, 2/15/2032  | 7500000 | &nbsp;&nbsp; 6796289 |
| U.S. Treasury Notes, 2.75%, 8/15/2032 (f) | 7333000 | &nbsp;&nbsp; 6941429 |
| U.S. Treasury Notes, 4.25%, 8/15/2035  | 1464000 | &nbsp;&nbsp; 1500371 |
| U.S. Treasury Notes, 4%, 11/15/2035  | 552000 | &nbsp;&nbsp; 553984 |
|  |  | &nbsp;&nbsp; $86147937 |
| Utilities - Electric Power – 1.9% | Utilities - Electric Power – 1.9% | Utilities - Electric Power – 1.9% |
| Adani Electricity Mumbai Ltd., 3.867%, 7/22/2031 (n) | $1362000 | &nbsp;&nbsp; $1259828 |
| Adani Transmission Step-One Ltd., 4.25%, 5/21/2036 (n) | 2078125 | &nbsp;&nbsp; 1893624 |
| AEP Texas, Inc., 5.7%, 5/15/2034  | 1043000 | &nbsp;&nbsp; 1104811 |
| AEP Transmission Co. LLC, 5.375%, 6/15/2035  | 507000 | &nbsp;&nbsp; 529826 |
| AEP Transmission Co. LLC, 5.4%, 3/15/2053  | 1016000 | &nbsp;&nbsp; 990803 |
| AES Andes S.A., 6.25%, 3/14/2032 (n) | 456000 | &nbsp;&nbsp; 474453 |
| AES Andes S.A., 8.15% to 6/10/2030, FLR (CMT - 5yr. + 3.835%) to 6/10/2035, FLR (CMT - 5yr. + 4.085%) to 6/10/2050, <br> FLR (CMT - 5yr. + 4.835%) to 6/10/2055 (n)<br>| 434000 | &nbsp;&nbsp; 466541 |
| Alfa Desarrollo S.p.A., 4.55%, 9/27/2051 (n) | 1014997 | &nbsp;&nbsp; 827629 |
| Algonquin Power & Utilities Corp., 5.365%, 6/15/2026  | 475000 | &nbsp;&nbsp; 476595 |
| American Transmission Systems, Inc., 2.65%, 1/15/2032 (n) | 305000 | &nbsp;&nbsp; 279108 |
| Berkshire Hathaway Energy Co., 5.15%, 11/15/2043  | 292000 | &nbsp;&nbsp; 283747 |
| Berkshire Hathaway Energy Co., 4.6%, 5/01/2053  | 300000 | &nbsp;&nbsp; 254555 |
| CFE FIBRA E Banco Citi Mexico S.A., 5.875%, 9/23/2040 (n) | 730860 | &nbsp;&nbsp; 726621 |
| Colbun S.A., 5.375%, 9/11/2035 (n) | 856000 | &nbsp;&nbsp; 863704 |
| Duke Energy Carolinas LLC, 2.85%, 3/15/2032  | 695000 | &nbsp;&nbsp; 643693 |
| Duke Energy Florida LLC, 3.4%, 10/01/2046  | 388000 | &nbsp;&nbsp; 289427 |
| Duke Energy Florida LLC, 6.2%, 11/15/2053  | 791000 | &nbsp;&nbsp; 858587 |
| Enel Finance International N.V., 7.75%, 10/14/2052 (n) | 1023000 | &nbsp;&nbsp; 1260951 |
| Energuate Trust, 6.35%, 9/15/2035 (n) | 795000 | &nbsp;&nbsp; 810130 |
| EPH Financing International A.S., 6.651%, 11/13/2028  | 953000 | &nbsp;&nbsp; 1219516 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Utilities - Electric Power – continued | Utilities - Electric Power – continued | Utilities - Electric Power – continued |
| Eversource Energy, 4.45%, 12/15/2030  | $413000 | &nbsp;&nbsp; $415341 |
| Eversource Energy, 5.5%, 1/01/2034  | 1026000 | &nbsp;&nbsp; 1065007 |
| FirstEnergy Corp., 2.65%, 3/01/2030  | 932000 | &nbsp;&nbsp; 880522 |
| Florida Power & Light Co., 3.95%, 3/01/2048  | 1811000 | &nbsp;&nbsp; 1465840 |
| Georgia Power Co., 4.7%, 5/15/2032  | 673000 | &nbsp;&nbsp; 689411 |
| Georgia Power Co., 5.125%, 5/15/2052  | 759000 | &nbsp;&nbsp; 716448 |
| Jersey Central Power & Light Co., 2.75%, 3/01/2032 (n) | 1605000 | &nbsp;&nbsp; 1466541 |
| MidAmerican Energy Co., 5.85%, 9/15/2054  | 806000 | &nbsp;&nbsp; 839773 |
| NextEra Energy Capital Holdings, Inc., 2.44%, 1/15/2032  | 1090000 | &nbsp;&nbsp; 983255 |
| Northern States Power Co. of Minnesota, 5.05%, 5/15/2035  | 1059000 | &nbsp;&nbsp; 1087807 |
| Oncor Electric Delivery Co. LLC, 5.35%, 4/01/2035 (n) | 673000 | &nbsp;&nbsp; 700857 |
| Pacific Gas & Electric Co., 2.5%, 2/01/2031  | 670000 | &nbsp;&nbsp; 612574 |
| Pacific Gas & Electric Co., 4%, 12/01/2046  | 605000 | &nbsp;&nbsp; 466720 |
| PPL Electric Utilities Corp., 4.85%, 2/15/2034  | 1017000 | &nbsp;&nbsp; 1040846 |
| PSEG Power LLC, 5.2%, 5/15/2030 (n) | 863000 | &nbsp;&nbsp; 890586 |
| PSEG Power LLC, 5.75%, 5/15/2035 (n) | 670000 | &nbsp;&nbsp; 701599 |
| PT Sorik Marapi Geothermal Power, 7.75%, 8/05/2031 (n) | 554380 | &nbsp;&nbsp; 569431 |
| Public Service Electric & Gas Co., 5.5%, 3/01/2055  | 518000 | &nbsp;&nbsp; 513292 |
| Saavi Energia S.à r.l., 8.875%, 2/10/2035 (n) | 795000 | &nbsp;&nbsp; 877680 |
| Southern California Edison Co., 4.5%, 9/01/2040  | 289000 | &nbsp;&nbsp; 257817 |
| Termocandelaria Power S.A., 7.75%, 9/17/2031 (n) | 847000 | &nbsp;&nbsp; 882151 |
| Vistra Operations Co. LLC, 4.7%, 1/31/2031 (n) | 851000 | &nbsp;&nbsp; 855869 |
| Vistra Operations Co. LLC, 5.35%, 1/31/2036 (n) | 851000 | &nbsp;&nbsp; 856891 |
| Xcel Energy, Inc., 4.6%, 6/01/2032  | 804000 | &nbsp;&nbsp; 809978 |
| Xcel Energy, Inc., 5.5%, 3/15/2034  | 262000 | &nbsp;&nbsp; 273540 |
|  |  | &nbsp;&nbsp; $35433925 |
| Utilities - Gas – 0.2% | Utilities - Gas – 0.2% | Utilities - Gas – 0.2% |
| APA Infrastructure Ltd., 5%, 3/23/2035 (n) | $307000 | &nbsp;&nbsp; $310462 |
| APA Infrastructure Ltd., 5.75%, 9/16/2044 (n) | 1083000 | &nbsp;&nbsp; 1116660 |
| Spire, Inc., 4.6%, 9/01/2031  | 1332000 | &nbsp;&nbsp; 1342734 |
| Spire, Inc., 6.25%, 6/01/2056  | 1218000 | &nbsp;&nbsp; 1225950 |
|  |  | &nbsp;&nbsp; $3995806 |
| Utilities - Other – 0.1% | Utilities - Other – 0.1% | Utilities - Other – 0.1% |
| Aegea Finance S.à r.l., 7.625%, 1/20/2036 (n) | $893000 | &nbsp;&nbsp; $828840 |
| National Central Cooling Co. PJSC, 2.5%, 10/21/2027  | 957000 | &nbsp;&nbsp; 929607 |
| Nova Securitisation S.à r.l., 5.75%, 2/03/2031 (n) | 816000 | &nbsp;&nbsp; 805872 |
|  |  | &nbsp;&nbsp; $2564319 |
| **Total Bonds (Identified Cost, $750,474,663)** |  | &nbsp;&nbsp; **$764582903** |
| Common Stocks – 35.4% | Common Stocks – 35.4% | Common Stocks – 35.4% |
| Aerospace & Defense – 0.5% | Aerospace & Defense – 0.5% |  |
| General Dynamics Corp. | 15146 | &nbsp;&nbsp; $5407879 |
| Leidos Holdings, Inc. | 24664 | &nbsp;&nbsp; 4318667 |
|  |  | &nbsp;&nbsp; $9726546 |
| Airlines – 0.1% | Airlines – 0.1% |  |
| Ryanair Holdings PLC, ADR | 55745 | &nbsp;&nbsp; $1806109 |
| Alcoholic Beverages – 0.5% | Alcoholic Beverages – 0.5% |  |
| Ambev S.A. | 3231000 | &nbsp;&nbsp; $10254242 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Apparel Manufacturers – 0.4% | Apparel Manufacturers – 0.4% |  |
| Chow Tai Fook Jewellery Group | 1286800 | &nbsp;&nbsp; $2157990 |
| Compagnie Financiere Richemont S.A. | 10358 | &nbsp;&nbsp; 2118483 |
| LVMH Moet Hennessy Louis Vuitton SE | 3933 | &nbsp;&nbsp; 2528559 |
|  |  | &nbsp;&nbsp; $6805032 |
| Automotive – 0.4% | Automotive – 0.4% |  |
| Compagnie Generale des Etablissements Michelin | 113833 | &nbsp;&nbsp; $4626974 |
| PT Astra International Tbk | 7412500 | &nbsp;&nbsp; 2951294 |
|  |  | &nbsp;&nbsp; $7578268 |
| Broadcasting – 0.2% | Broadcasting – 0.2% |  |
| Omnicom Group, Inc. | 34845 | &nbsp;&nbsp; $2971930 |
| Brokerage & Asset Managers – 0.1% | Brokerage & Asset Managers – 0.1% |  |
| CME Group, Inc. | 4529 | &nbsp;&nbsp; $1447016 |
| Business Services – 0.3% | Business Services – 0.3% |  |
| Accenture PLC, "A" | 3672 | &nbsp;&nbsp; $766420 |
| Cognizant Technology Solutions Corp., "A" | 23616 | &nbsp;&nbsp; 1521579 |
| Tata Consultancy Services Ltd. | 73874 | &nbsp;&nbsp; 2141606 |
| Verisk Analytics, Inc., "A" | 5807 | &nbsp;&nbsp; 1205359 |
|  |  | &nbsp;&nbsp; $5634964 |
| Computer Software - Systems – 0.7% | Computer Software - Systems – 0.7% |  |
| Hon Hai Precision Industry Co. Ltd. | 947000 | &nbsp;&nbsp; $7294860 |
| Lenovo Group Ltd. | 806000 | &nbsp;&nbsp; 1002426 |
| NEC Corp. | 40900 | &nbsp;&nbsp; 1135085 |
| Seagate Technology Holdings PLC | 9532 | &nbsp;&nbsp; 3887531 |
|  |  | &nbsp;&nbsp; $13319902 |
| Construction – 2.5% | Construction – 2.5% |  |
| American Homes 4 Rent LP, REIT | 224563 | &nbsp;&nbsp; $6736890 |
| Anhui Conch Cement Co. Ltd. | 715500 | &nbsp;&nbsp; 2240682 |
| Compagnie de Saint-Gobain S.A. | 33422 | &nbsp;&nbsp; 3405741 |
| Equity Lifestyle Properties, Inc., REIT | 141041 | &nbsp;&nbsp; 9472313 |
| Equity Residential, REIT | 114337 | &nbsp;&nbsp; 7227242 |
| Essex Property Trust, Inc., REIT | 28942 | &nbsp;&nbsp; 7383394 |
| Mid-America Apartment Communities, Inc., REIT | 54241 | &nbsp;&nbsp; 7260700 |
| Midea Group Co. Ltd., "A" | 226200 | &nbsp;&nbsp; 2594683 |
|  |  | &nbsp;&nbsp; $46321645 |
| Consumer Products – 1.2% | Consumer Products – 1.2% |  |
| Colgate-Palmolive Co. | 140332 | &nbsp;&nbsp; $13912515 |
| Kimberly-Clark Corp. | 74448 | &nbsp;&nbsp; 8296485 |
|  |  | &nbsp;&nbsp; $22209000 |
| Containers – 0.1% | Containers – 0.1% |  |
| Smurfit Westrock PLC | 27536 | &nbsp;&nbsp; $1294467 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Electronics – 0.5% | Electronics – 0.5% |  |
| Lam Research Corp. | 23515 | &nbsp;&nbsp; $5499923 |
| NVIDIA Corp. | 11298 | &nbsp;&nbsp; 2001893 |
| SK Square Co. Ltd. (a) | 4478 | &nbsp;&nbsp; 2007862 |
|  |  | &nbsp;&nbsp; $9509678 |
| Energy - Independent – 0.8% | Energy - Independent – 0.8% |  |
| Phillips 66 | 75487 | &nbsp;&nbsp; $11649909 |
| Woodside Energy Group Ltd. | 136722 | &nbsp;&nbsp; 2754512 |
|  |  | &nbsp;&nbsp; $14404421 |
| Energy - Integrated – 1.2% | Energy - Integrated – 1.2% |  |
| Cenovus Energy, Inc. | 48330 | &nbsp;&nbsp; $1076756 |
| Chevron Corp. | 13016 | &nbsp;&nbsp; 2430868 |
| Eni S.p.A. | 221312 | &nbsp;&nbsp; 5140088 |
| Exxon Mobil Corp. | 13142 | &nbsp;&nbsp; 2004155 |
| PetroChina Co. Ltd. | 5696000 | &nbsp;&nbsp; 6945809 |
| TotalEnergies SE | 69855 | &nbsp;&nbsp; 5553336 |
|  |  | &nbsp;&nbsp; $23151012 |
| Engineering - Construction – 0.1% | Engineering - Construction – 0.1% |  |
| Doosan Bobcat, Inc. (a) | 63633 | &nbsp;&nbsp; $2875318 |
| Entertainment – 0.4% | Entertainment – 0.4% |  |
| Lamar Advertising Co., REIT | 48829 | &nbsp;&nbsp; $6725706 |
| Food & Beverages – 0.6% | Food & Beverages – 0.6% |  |
| General Mills, Inc. | 88377 | &nbsp;&nbsp; $3997292 |
| Inner Mongolia Yili Industrial Group Co. Ltd., "A" | 228700 | &nbsp;&nbsp; 870005 |
| Nomad Foods Ltd. | 55706 | &nbsp;&nbsp; 611095 |
| PepsiCo, Inc. | 19141 | &nbsp;&nbsp; 3248993 |
| WH Group Ltd. | 1764000 | &nbsp;&nbsp; 2218698 |
|  |  | &nbsp;&nbsp; $10946083 |
| Food & Drug Stores – 0.7% | Food & Drug Stores – 0.7% |  |
| Albertsons Cos., Inc., "A" | 110945 | &nbsp;&nbsp; $1985915 |
| Tesco PLC | 1700222 | &nbsp;&nbsp; 11012008 |
|  |  | &nbsp;&nbsp; $12997923 |
| Gaming & Lodging – 0.9% | Gaming & Lodging – 0.9% |  |
| FDJ United (l) | 55459 | &nbsp;&nbsp; $1681509 |
| OPAP S.A. | 19064 | &nbsp;&nbsp; 355911 |
| Ryman Hospitality Properties, Inc., REIT | 37073 | &nbsp;&nbsp; 3660959 |
| Sunstone Hotel Investors, Inc., REIT | 409897 | &nbsp;&nbsp; 3803844 |
| VICI Properties, Inc., REIT | 237140 | &nbsp;&nbsp; 7163999 |
|  |  | &nbsp;&nbsp; $16666222 |
| Health Maintenance Organizations – 0.5% | Health Maintenance Organizations – 0.5% |  |
| Cigna Group | 32051 | &nbsp;&nbsp; $9289021 |
| Insurance – 1.3% | Insurance – 1.3% |  |
| DB Insurance Co. Ltd. | 9471 | &nbsp;&nbsp; $1205520 |
| Equitable Holdings, Inc. | 93274 | &nbsp;&nbsp; 3751480 |
| Hartford Insurance Group, Inc. | 27801 | &nbsp;&nbsp; 3915215 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Insurance – continued | Insurance – continued |  |
| Lincoln National Corp. | 20268 | &nbsp;&nbsp; $695192 |
| Manulife Financial Corp. | 166224 | &nbsp;&nbsp; 5918771 |
| MetLife, Inc. | 65644 | &nbsp;&nbsp; 4730963 |
| Sompo Holdings, Inc. | 110300 | &nbsp;&nbsp; 4410870 |
|  |  | &nbsp;&nbsp; $24628011 |
| Leisure & Toys – 0.4% | Leisure & Toys – 0.4% |  |
| Brunswick Corp. | 60025 | &nbsp;&nbsp; $4779190 |
| NetEase, Inc. | 151700 | &nbsp;&nbsp; 3474786 |
|  |  | &nbsp;&nbsp; $8253976 |
| Machinery & Tools – 0.6% | Machinery & Tools – 0.6% |  |
| AGCO Corp. | 18392 | &nbsp;&nbsp; $2510508 |
| Finning International, Inc. | 59362 | &nbsp;&nbsp; 4002001 |
| GEA Group AG | 25951 | &nbsp;&nbsp; 2020738 |
| Wabtec Corp. | 10033 | &nbsp;&nbsp; 2648210 |
|  |  | &nbsp;&nbsp; $11181457 |
| Major Banks – 0.8% | Major Banks – 0.8% |  |
| Banca Mediolanum S.p.A. | 51153 | &nbsp;&nbsp; $1102469 |
| BNP Paribas S.A. | 74222 | &nbsp;&nbsp; 8375418 |
| DBS Group Holdings Ltd. | 55840 | &nbsp;&nbsp; 2521607 |
| ING Groep N.V. | 74580 | &nbsp;&nbsp; 2170488 |
| Regions Financial Corp. | 54002 | &nbsp;&nbsp; 1502876 |
|  |  | &nbsp;&nbsp; $15672858 |
| Medical & Health Technology & Services – 1.2% | Medical & Health Technology & Services – 1.2% |  |
| Healthcare Realty Trust, Inc., REIT | 339333 | &nbsp;&nbsp; $6260694 |
| Healthpeak Properties, Inc. | 124089 | &nbsp;&nbsp; 2193894 |
| Ventas, Inc., REIT | 172489 | &nbsp;&nbsp; 14861652 |
|  |  | &nbsp;&nbsp; $23316240 |
| Medical Equipment – 0.2% | Medical Equipment – 0.2% |  |
| Medtronic PLC | 30397 | &nbsp;&nbsp; $2968571 |
| Metals & Mining – 1.2% | Metals & Mining – 1.2% |  |
| Rio Tinto PLC | 73496 | &nbsp;&nbsp; $7265089 |
| Toyota Tsusho Corp. | 295600 | &nbsp;&nbsp; 13227374 |
| Vale S.A. | 147400 | &nbsp;&nbsp; 2543739 |
|  |  | &nbsp;&nbsp; $23036202 |
| Natural Gas - Distribution – 0.4% | Natural Gas - Distribution – 0.4% |  |
| Atmos Energy Corp. | 39621 | &nbsp;&nbsp; $7400807 |
| Natural Gas - Pipeline – 0.1% | Natural Gas - Pipeline – 0.1% |  |
| APA Group | 199979 | &nbsp;&nbsp; $1309299 |
| Network & Telecom – 0.4% | Network & Telecom – 0.4% |  |
| LM Ericsson Telephone Co., "B" | 585088 | &nbsp;&nbsp; $6775993 |
| Oil Services – 0.3% | Oil Services – 0.3% |  |
| Tenaris S.A. | 223697 | &nbsp;&nbsp; $6111087 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Other Banks & Diversified Financials – 1.4% | Other Banks & Diversified Financials – 1.4% |  |
| China Construction Bank Corp. | 8126000 | &nbsp;&nbsp; $8299044 |
| Grupo Financiero Banorte S.A. de C.V. | 137708 | &nbsp;&nbsp; 1570345 |
| M&T Bank Corp. | 9938 | &nbsp;&nbsp; 2156347 |
| Northern Trust Corp. | 80964 | &nbsp;&nbsp; 11585139 |
| Popular, Inc. | 22298 | &nbsp;&nbsp; 3018257 |
| Sberbank of Russia PJSC (a)(u) | 1738404 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; $26629132 |
| Pharmaceuticals – 2.8% | Pharmaceuticals – 2.8% |  |
| AbbVie, Inc. | 38418 | &nbsp;&nbsp; $8916049 |
| Johnson & Johnson | 42012 | &nbsp;&nbsp; 10437041 |
| Novartis AG | 64899 | &nbsp;&nbsp; 11015568 |
| Pfizer, Inc. | 396563 | &nbsp;&nbsp; 10964967 |
| Roche Holding AG | 15336 | &nbsp;&nbsp; 7320429 |
| Sanofi S.A. | 42963 | &nbsp;&nbsp; 4172890 |
|  |  | &nbsp;&nbsp; $52826944 |
| Railroad & Shipping – 0.1% | Railroad & Shipping – 0.1% |  |
| Yangzijiang Shipbuilding Holdings Ltd. | 784300 | &nbsp;&nbsp; $2691013 |
| Real Estate – 3.1% | Real Estate – 3.1% |  |
| Acadia Realty Trust, REIT | 311036 | &nbsp;&nbsp; $6506873 |
| Essential Properties Realty Trust, REIT | 221620 | &nbsp;&nbsp; 7521783 |
| Federal Realty Investment Trust, REIT | 66797 | &nbsp;&nbsp; 7265510 |
| Kimco Realty Corp., REIT | 244701 | &nbsp;&nbsp; 5762708 |
| NNN REIT, Inc. | 172970 | &nbsp;&nbsp; 7839000 |
| Regency Centers Corp., REIT | 83202 | &nbsp;&nbsp; 6572958 |
| Simon Property Group, Inc., REIT | 81456 | &nbsp;&nbsp; 16604806 |
|  |  | &nbsp;&nbsp; $58073638 |
| Real Estate - Office – 0.9% | Real Estate - Office – 0.9% |  |
| BXP, Inc., REIT | 91490 | &nbsp;&nbsp; $5267994 |
| Cousins Properties, Inc., REIT | 148543 | &nbsp;&nbsp; 3440256 |
| Douglas Emmett, Inc., REIT | 298949 | &nbsp;&nbsp; 2956605 |
| Highwoods Properties, Inc., REIT | 273573 | &nbsp;&nbsp; 6152657 |
|  |  | &nbsp;&nbsp; $17817512 |
| Real Estate - Storage – 2.4% | Real Estate - Storage – 2.4% |  |
| Americold Realty Trust, Inc. | 332377 | &nbsp;&nbsp; $4450528 |
| Extra Space Storage, Inc., REIT | 39914 | &nbsp;&nbsp; 6028212 |
| Prologis, Inc., REIT | 199482 | &nbsp;&nbsp; 28440149 |
| Rexford Industrial Realty, Inc., REIT | 148088 | &nbsp;&nbsp; 5548857 |
|  |  | &nbsp;&nbsp; $44467746 |
| Restaurants – 0.4% | Restaurants – 0.4% |  |
| Aramark | 186781 | &nbsp;&nbsp; $7816785 |
| Specialty Stores – 0.4% | Specialty Stores – 0.4% |  |
| Bath & Body Works, Inc. | 46694 | &nbsp;&nbsp; $1062755 |
| Home Depot, Inc. | 10986 | &nbsp;&nbsp; 4182590 |
| Shimamura Co. Ltd. (l) | 80400 | &nbsp;&nbsp; 1851365 |
|  |  | &nbsp;&nbsp; $7096710 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Telecom - Infrastructure – 1.9% | Telecom - Infrastructure – 1.9% |  |
| Digital Realty Trust, Inc., REIT | 88003 | &nbsp;&nbsp; $15594131 |
| Equinix, Inc., REIT | 20426 | &nbsp;&nbsp; 19900235 |
|  |  | &nbsp;&nbsp; $35494366 |
| Telecom Services – 0.9% | Telecom Services – 0.9% |  |
| Hellenic Telecommunications Organization S.A. | 114653 | &nbsp;&nbsp; $2370795 |
| KDDI Corp. | 545900 | &nbsp;&nbsp; 9336912 |
| Koninklijke KPN N.V. | 663936 | &nbsp;&nbsp; 3766417 |
| PT Telekom Indonesia | 6726300 | &nbsp;&nbsp; 1420286 |
|  |  | &nbsp;&nbsp; $16894410 |
| Tobacco – 0.9% | Tobacco – 0.9% |  |
| Altria Group, Inc. | 59639 | &nbsp;&nbsp; $4117476 |
| British American Tobacco PLC | 147604 | &nbsp;&nbsp; 9229820 |
| Philip Morris International, Inc. | 20214 | &nbsp;&nbsp; 3776582 |
|  |  | &nbsp;&nbsp; $17123878 |
| Utilities - Electric Power – 0.6% | Utilities - Electric Power – 0.6% |  |
| CLP Holdings Ltd. | 319000 | &nbsp;&nbsp; $3025513 |
| Edison International | 90543 | &nbsp;&nbsp; 6767184 |
| Xcel Energy, Inc. | 24870 | &nbsp;&nbsp; 2073163 |
|  |  | &nbsp;&nbsp; $11865860 |
| **Total Common Stocks (Identified Cost, $512,324,744)** |  | &nbsp;&nbsp; **$665387000** |
| Convertible Preferred Stocks – 0.5% | Convertible Preferred Stocks – 0.5% | Convertible Preferred Stocks – 0.5% |
| Utilities - Electric Power – 0.5% | Utilities - Electric Power – 0.5% |  |
| NextEra Energy, Inc., 7.234% | 107185 | &nbsp;&nbsp; $5633644 |
| PG&E Corp., 6% | 86227 | &nbsp;&nbsp; 3908670 |
| **Total Convertible Preferred Stocks (Identified Cost, $8,795,763)** | **Total Convertible Preferred Stocks (Identified Cost, $8,795,763)** | &nbsp;&nbsp; **$9542314** |
| Preferred Stocks – 0.3% | Preferred Stocks – 0.3% | Preferred Stocks – 0.3% |
| Computer Software - Systems – 0.3% |  |  |
| Samsung Electronics Co. Ltd. (Identified Cost, $2,519,748) | 47802 | &nbsp;&nbsp; $4778538 |
| Convertible Bonds – 0.1% | Convertible Bonds – 0.1% | Convertible Bonds – 0.1% |
| Utilities - Electric Power – 0.1% | Utilities - Electric Power – 0.1% |  |
| PG&E Corp., 4.25%, 12/01/2027 (Identified Cost, $950,000) | $950000 | &nbsp;&nbsp; $1015360 |
| Mutual Funds (h) – 22.8% | Mutual Funds (h) – 22.8% | Mutual Funds (h) – 22.8% |
| Bond Funds – 22.0% | Bond Funds – 22.0% | Bond Funds – 22.0% |
| MFS High Yield Pooled Portfolio (v) | 48855465 | &nbsp;&nbsp; $412340130 |
| Money Market Funds – 0.8% | Money Market Funds – 0.8% |  |
| MFS Institutional Money Market Portfolio, 3.7% (v) | 15459506 | &nbsp;&nbsp; $15461052 |
| **Total Mutual Funds (Identified Cost, $407,758,715)** | **Total Mutual Funds (Identified Cost, $407,758,715)** | &nbsp;&nbsp; **$427801182** |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Underlying/Expiration Date/Exercise Price** <br> **(Rate)**<br>| **Put/Call** | **Counterparty** | **Notional** <br>**Amount**<br>| &nbsp;&nbsp; **Par Amount/** <br>**Number of** <br>**Contracts**<br>| **Value ($)** |
| Purchased Options – 0.2% | Purchased Options – 0.2% | Purchased Options – 0.2% | Purchased Options – 0.2% | Purchased Options – 0.2% |  |
| Market Index Securities – 0.1% | Market Index Securities – 0.1% | Market Index Securities – 0.1% | Market Index Securities – 0.1% | Market Index Securities – 0.1% |  |
| S&P 500 Index – 12/18/2026 @ $5,500 | Put | Goldman Sachs International | &nbsp;&nbsp; $116940960 | &nbsp;&nbsp; 170 | &nbsp;&nbsp; $1995800 |
| S&P 500 Index – 9/18/2026 @ $5,400 | Put | Goldman Sachs International | &nbsp;&nbsp; 72228240 | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 765450 |
|  |  |  |  |  | &nbsp;&nbsp; $2761250 |
| Medical & Health Technology & Services – 0.1% | Medical & Health Technology & Services – 0.1% | Medical & Health Technology & Services – 0.1% | Medical & Health Technology & Services – 0.1% | Medical & Health Technology & Services – 0.1% |  |
| Welltower, Inc. – 6/18/2026 @ $210 | Call | Merrill Lynch International | &nbsp;&nbsp; $13338528 | &nbsp;&nbsp; 644 | &nbsp;&nbsp; $708400 |
| Welltower, Inc. – 6/18/2026 @ $240 | Call | Morgan Stanley Capital Services LLC | &nbsp;&nbsp; 5820072 | &nbsp;&nbsp; 281 | &nbsp;&nbsp; 44960 |
| Welltower, Inc. – 9/18/2026 @ $220 | Call | Morgan Stanley Capital Services LLC | &nbsp;&nbsp; 7518456 | &nbsp;&nbsp; 363 | &nbsp;&nbsp; 455202 |
|  |  |  |  |  | &nbsp;&nbsp; $1208562 |
| OTC Swaptions – 0.0% | OTC Swaptions – 0.0% | OTC Swaptions – 0.0% | OTC Swaptions – 0.0% | OTC Swaptions – 0.0% |  |
| 1 Year Interest Rate Swap with Fund to pay 3.085% <br> annually and receive 1-day SOFR annually – 8/30/2027 <br> @ 3.085%<br>| Put | Merrill Lynch International | &nbsp;&nbsp; $6000000 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; $21422 |
| 1 Year Interest Rate Swap with Fund to receive 3.085% <br> annually and pay 1-day SOFR annually – 8/30/2027 @ <br> 3.085%<br>| Call | Merrill Lynch International | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; 25282 |
|  |  |  |  |  | &nbsp;&nbsp; $46704 |
| **Total Purchased Options** <br>**(Premiums Paid, $3,851,109)** | **Total Purchased Options** <br>**(Premiums Paid, $3,851,109)** | **Total Purchased Options** <br>**(Premiums Paid, $3,851,109)** | **Total Purchased Options** <br>**(Premiums Paid, $3,851,109)** |  | &nbsp;&nbsp; **$4016516** |

---

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** |  |
| Collateral for Securities Loaned – 0.0% | Collateral for Securities Loaned – 0.0% | Collateral for Securities Loaned – 0.0% |
| JPMorgan U.S. Government Money Market Fund - Class IM Shares, 3.61% (j) (Identified Cost, $112,350) | 112350 | &nbsp;&nbsp; $112350 |
| Other Assets, Less Liabilities – 0.0% |  | &nbsp;&nbsp; 260111 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$1877496274** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) In default.

&nbsp;&nbsp;&nbsp;&nbsp;(f) All or a portion of the security has been segregated as collateral for open futures
 contracts and cleared swap agreements.

&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 $427,801,182 and $1,449,434,981, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Interest only security for which the fund receives interest on notional principal
 (Par amount). Par amount shown is the notional principal and does not reflect the cost of the security.

&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;(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933.
 These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers.
 At period end, the aggregate value of these securities was $274,542,972, representing 14.6% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(p) Payment-in-kind (PIK) security for which interest income may be received in additional
 securities and/or cash.

&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.

&nbsp;&nbsp;&nbsp;&nbsp;(w) When-issued security.

---

| | |
|:---|:---|
| The following abbreviations are used in this report and are defined: | The following abbreviations are used in this report and are defined: |
| ADR | American Depositary Receipt |
| CLO | Collateralized Loan Obligation |
| CMT | Constant Maturity Treasury |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | |
|:---|:---|
| FLR | Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate <br> reported may not be the current rate. All reference rates are USD unless otherwise noted.<br>|
| ICE | Intercontinental Exchange |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |
| UMBS | Uniform Mortgage-Backed Security |
| Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of <br> abbreviations is shown below: | Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of <br> abbreviations is shown below: |
| BRL | Brazilian Real |
| CNH | Chinese Yuan Renminbi (Offshore) |
| COP | Colombian Peso |
| CZK | Czech Koruna |
| EGP | Egypt Pound |
| EUR | Euro |
| HUF | Hungarian Forint |
| INR | Indian Rupee |
| MYR | Malaysian Ringgit |
| NGN | Nigerian Naira |
| PEN | Peruvian Nuevo Sol |
| PHP | Philippine Peso |
| PLN | Polish Zloty |
| RON | Romanian New Leu |
| TRY | Turkish Lira |
| UYU | Uruguayan Peso |
| ZAR | South African Rand |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivative Contracts at 2/28/26** | **Derivative Contracts at 2/28/26** | **Derivative Contracts at 2/28/26** | **Derivative Contracts at 2/28/26** | **Derivative Contracts at 2/28/26** | **Derivative Contracts at 2/28/26** | **Derivative Contracts at 2/28/26** |
| **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** |
| **Currency** <br>**Purchased** | **Currency** <br>**Purchased** | &nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Sold** | &nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Sold** | **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp; **Settlement** <br>**Date**<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |
| BRL | &nbsp;&nbsp; 2315041 | USD | 442956 | Barclays Bank PLC | 5/05/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $1903 |
| BRL | &nbsp;&nbsp; 2924298 | USD | 548044 | JPMorgan Chase Bank N.A. | 5/05/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 13890 |
| CNH | &nbsp;&nbsp; 7770035 | USD | 1119537 | Goldman Sachs International | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 16530 |
| CNH | &nbsp;&nbsp; 2625907 | USD | 383794 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 144 |
| CZK | &nbsp;&nbsp; 19299683 | USD | 923960 | Goldman Sachs International | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 17577 |
| EUR | &nbsp;&nbsp; 2134348 | USD | 2508017 | Citibank N.A. | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 19793 |
| EUR | &nbsp;&nbsp; 1429687 | USD | 1671951 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 21295 |
| HUF | &nbsp;&nbsp; 49886979 | USD | 155819 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 166 |
| HUF | &nbsp;&nbsp; 92186979 | USD | 286231 | Morgan Stanley Capital Services LLC | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2016 |
| HUF | &nbsp;&nbsp; 244490462 | USD | 757486 | UBS AG | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6978 |
| INR | &nbsp;&nbsp; 164630042 | USD | 1783989 | Barclays Bank PLC | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 17500 |
| MYR | &nbsp;&nbsp; 7441674 | USD | 1852589 | Barclays Bank PLC | 4/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 62033 |
| PEN | &nbsp;&nbsp; 5637000 | USD | 1672353 | JPMorgan Chase Bank N.A. | 4/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5441 |
| PHP | &nbsp;&nbsp; 51733000 | USD | 878191 | JPMorgan Chase Bank N.A. | 3/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 18654 |
| RON | &nbsp;&nbsp; 3021798 | USD | 687992 | Citibank N.A. | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 11112 |
| TRY | &nbsp;&nbsp; 16293875 | USD | 351544 | Barclays Bank PLC | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5633 |
| TRY | &nbsp;&nbsp; 13799240 | USD | 299866 | Goldman Sachs International | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2626 |
| TRY | &nbsp;&nbsp; 16110524 | USD | 347532 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5626 |
| TRY | &nbsp;&nbsp; 32404399 | USD | 698807 | Merrill Lynch International | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 11527 |
| ZAR | &nbsp;&nbsp; 6255652 | USD | 387750 | Goldman Sachs International | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3753 |
| USD | &nbsp;&nbsp; 597091 | INR | 54353180 | Deutsche Bank AG | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2323 |
| USD | &nbsp;&nbsp; 613569 | PEN | 2053000 | Citibank N.A. | 4/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2515 |
| USD | &nbsp;&nbsp; 226180 | PLN | 803454 | Barclays Bank PLC | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1337 |
| USD | &nbsp;&nbsp; 232673 | PLN | 826564 | Citibank N.A. | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1363 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $251735 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts - continued** | **Forward Foreign Currency Exchange Contracts - continued** | **Forward Foreign Currency Exchange Contracts - continued** | **Forward Foreign Currency Exchange Contracts - continued** | **Forward Foreign Currency Exchange Contracts - continued** | **Forward Foreign Currency Exchange Contracts - continued** | **Forward Foreign Currency Exchange Contracts - continued** |
| **Currency**<br> **Purchased** | **Currency**<br> **Purchased** | &nbsp;&nbsp;&nbsp;&nbsp; **Currency**<br> **Sold** | &nbsp;&nbsp;&nbsp;&nbsp; **Currency**<br> **Sold** | **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp; **Settlement**<br> **Date**<br>| &nbsp;&nbsp;&nbsp; **Unrealized**<br> **Appreciation**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| COP | &nbsp;&nbsp; 2817897206 | USD | 756520 | Goldman Sachs International | 5/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $(18008)<br>|
| EUR | &nbsp;&nbsp; 536382 | USD | 647929 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (12666)<br>|
| EUR | &nbsp;&nbsp; 718401 | USD | 860644 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (9808)<br>|
| EUR | &nbsp;&nbsp; 148160 | USD | 175526 | UBS AG | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (53)<br>|
| MYR | &nbsp;&nbsp; 1149914 | USD | 296522 | Barclays Bank PLC | 4/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (668)<br>|
| PEN | &nbsp;&nbsp; 2363000 | USD | 704238 | JPMorgan Chase Bank N.A. | 4/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (916)<br>|
| USD | &nbsp;&nbsp; 1051903 | BRL | 5599914 | Goldman Sachs International | 5/05/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (24179)<br>|
| USD | &nbsp;&nbsp; 260762 | CZK | 5421782 | Citibank N.A. | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (3741)<br>|
| USD | &nbsp;&nbsp; 14733639 | EUR | 12592354 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (180085)<br>|
| USD | &nbsp;&nbsp; 2262144 | EUR | 1913612 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (4236)<br>|
| USD | &nbsp;&nbsp; 765431 | HUF | 252918186 | Deutsche Bank AG | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (25385)<br>|
| USD | &nbsp;&nbsp; 4966 | HUF | 1656894 | Goldman Sachs International | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (214)<br>|
| USD | &nbsp;&nbsp; 600158 | INR | 54974490 | Goldman Sachs International | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (1408)<br>|
| USD | &nbsp;&nbsp; 605033 | INR | 55302373 | JPMorgan Chase Bank N.A. | 4/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (122)<br>|
| USD | &nbsp;&nbsp; 659076 | MYR | 2667281 | Barclays Bank PLC | 4/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (27172)<br>|
| USD | &nbsp;&nbsp; 1159225 | PEN | 3903242 | Barclays Bank PLC | 4/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (2535)<br>|
| USD | &nbsp;&nbsp; 881762 | PHP | 52348000 | Barclays Bank PLC | 3/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (25745)<br>|
| USD | &nbsp;&nbsp; 1255594 | PLN | 4529192 | Barclays Bank PLC | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (11878)<br>|
| USD | &nbsp;&nbsp; 576895 | TRY | 26402237 | Citibank N.A. | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (1866)<br>|
| USD | &nbsp;&nbsp; 562091 | TRY | 25835697 | Goldman Sachs International | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (4251)<br>|
| USD | &nbsp;&nbsp; 574293 | TRY | 26370105 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (3764)<br>|
| USD | &nbsp;&nbsp; 2548518 | ZAR | 41767326 | Merrill Lynch International | 4/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; (65446)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(424146)<br>|

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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>|
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |
| ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** |  |  |
| U.S. Treasury Bond 30 yr | &nbsp;&nbsp;&nbsp; Long | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp; $2250906 | June – 2026 | &nbsp;&nbsp;&nbsp; $17902 |
| U.S. Treasury Note 2 yr | &nbsp;&nbsp;&nbsp; Long | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 490 | &nbsp;&nbsp;&nbsp; 102543985 | June – 2026 | &nbsp;&nbsp;&nbsp; 120745 |
| U.S. Treasury Note 5 yr | &nbsp;&nbsp;&nbsp; Long | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 325 | &nbsp;&nbsp;&nbsp; 35795703 | June – 2026 | &nbsp;&nbsp;&nbsp; 201969 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; $340616 |
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** |  |  |
| Euro-Bund 10 yr | &nbsp;&nbsp;&nbsp; Short | &nbsp;&nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp; $12002622 | March – 2026 | &nbsp;&nbsp;&nbsp; $(141205)<br>|
| U.S. Treasury Ultra Note 10 yr | &nbsp;&nbsp;&nbsp; Short | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp; 5136312 | June – 2026 | &nbsp;&nbsp;&nbsp; (49697)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; $(190902)<br>|

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** |
| **Maturity** <br>**Date** | **Maturity** <br>**Date** | **Notional** <br>**Amount**<br>| **Counterparty** | **Cash Flows** <br>**to Receive/** <br>**Frequency**<br>| **Cash Flows** <br>**to Pay/** <br>**Frequency**<br>| **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Net** <br>**Unamortized** <br>**Upfront** <br>**Payments** <br>**(Receipts)**<br>| **Value** |
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |  |  |  |
| ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** |  |  |  |
| 11/26/27 | USD | 10467000 | centrally cleared | 1-day SOFR / Annually | 3.2845% / Annually | $5365 | $— | $5365 |

---

------

MFS Diversified Income Fund

*Portfolio of Investments – continued*

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Maturity**<br> **Date** | **Maturity**<br> **Date** | **Notional**<br> **Amount**<br>| **Counterparty** | **Cash Flows**<br> **to Receive/**<br> **Frequency**<br>| **Cash Flows**<br> **to Pay/**<br> **Frequency**<br>| **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Net**<br> **Unamortized**<br> **Upfront**<br> **Payments**<br> **(Receipts)**<br>| **Value** |
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |  |  |  |
| ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** |  |  |  |
| 11/03/27 | USD | 10629000 | centrally cleared | 1-day SOFR / Annually | 3.389% / Annually | $(8406)<br>| $— | $(8406)<br>|
| 11/05/27 | USD | 10529000 | centrally cleared | 1-day SOFR / Annually | 3.387% / Annually | (7380)<br>|  | (7380)<br>|
| 1/09/29 | USD | 9850000 | centrally cleared | 1-day SOFR / Annually | 3.35% / Annually | (44571)<br>|  | (44571)<br>|
| 1/14/31 | USD | 5904000 | centrally cleared | 1-day SOFR / Annually | 3.5105% / Annually | (72449)<br>|  | (72449)<br>|
|  |  |  |  |  |  | $(132806)<br>| $— | $(132806)<br>|

---

At February 28, 2026, the fund had liquid securities collateral with an aggregate value of $2,240,701 to cover any collateral or margin obligations for certain derivative contracts.

**See Notes to Financial Statements**

------

MFS Diversified Income 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 2/28/26** <br> **Assets**<br>|  |
| Investments in unaffiliated issuers, at value, including $1,738,143 of securities on loan (identified cost, $1,279,028,377) | &nbsp;&nbsp; $1449434981 |
| Investments in affiliated issuers, at value (identified cost, $407,758,715) | &nbsp;&nbsp; 427801182 |
| Cash | &nbsp;&nbsp; 30098 |
| Foreign currency, at value (identified cost, $298,964) | &nbsp;&nbsp; 298529 |
| Receivables for |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; 251735 |
| Net daily variation margin on open futures contracts | &nbsp;&nbsp; 187202 |
| Investments sold | &nbsp;&nbsp; 6511299 |
| TBA sale commitments | &nbsp;&nbsp; 986997 |
| Fund shares sold | &nbsp;&nbsp; 597218 |
| Interest and dividends | &nbsp;&nbsp; 10776758 |
| Other assets | &nbsp;&nbsp; 3800 |
| Total assets | &nbsp;&nbsp; $1896879799 |
| **Liabilities** |  |
| Payables for |  |
| Distributions | &nbsp;&nbsp; $681056 |
| Net daily variation margin on open cleared swap agreements | &nbsp;&nbsp; 72930 |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; 424146 |
| Investments purchased | &nbsp;&nbsp; 7719397 |
| When-issued investments purchased | &nbsp;&nbsp; 5988143 |
| TBA purchase commitments | &nbsp;&nbsp; 985816 |
| Fund shares reacquired | &nbsp;&nbsp; 2317808 |
| Collateral for securities loaned, at value (c) | &nbsp;&nbsp; 112350 |
| Payable to affiliates |  |
| Investment adviser | &nbsp;&nbsp; 11384 |
| Administrative services fee | &nbsp;&nbsp; 2162 |
| Shareholder servicing costs | &nbsp;&nbsp; 380317 |
| Distribution and service fees | &nbsp;&nbsp; 27706 |
| Payable for independent Trustees' compensation | &nbsp;&nbsp; 15 |
| Deferred foreign capital gains tax expense payable | &nbsp;&nbsp; 399750 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 260545 |
| Total liabilities | &nbsp;&nbsp; $19383525 |
| Net assets | &nbsp;&nbsp; $1877496274 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $1737796250 |
| Total distributable earnings (loss) | &nbsp;&nbsp; 139700024 |
| Net assets | &nbsp;&nbsp; $1877496274 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 144961623 |

---

&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; $1100503857 | &nbsp;&nbsp;&nbsp; 84955174 | &nbsp;&nbsp;&nbsp; $12.95 |
| Class C | &nbsp;&nbsp;&nbsp; 60502563 | &nbsp;&nbsp;&nbsp; 4674772 | &nbsp;&nbsp;&nbsp;&nbsp;12.94 |
| Class I | &nbsp;&nbsp;&nbsp; 514348222 | &nbsp;&nbsp;&nbsp; 39725014 | &nbsp;&nbsp;&nbsp;&nbsp;12.95 |
| Class R1 | &nbsp;&nbsp;&nbsp; 214920 | &nbsp;&nbsp;&nbsp; 16607 | &nbsp;&nbsp;&nbsp;&nbsp;12.94 |
| Class R2 | &nbsp;&nbsp;&nbsp; 854542 | &nbsp;&nbsp;&nbsp; 66001 | &nbsp;&nbsp;&nbsp;&nbsp;12.95 |
| Class R3 | &nbsp;&nbsp;&nbsp; 7409795 | &nbsp;&nbsp;&nbsp; 571819 | &nbsp;&nbsp;&nbsp;&nbsp;12.96 |
| Class R4 | &nbsp;&nbsp;&nbsp; 2705920 | &nbsp;&nbsp;&nbsp; 208970 | &nbsp;&nbsp;&nbsp;&nbsp;12.95 |
| Class R6 | &nbsp;&nbsp;&nbsp; 190956455 | &nbsp;&nbsp;&nbsp; 14743266 | &nbsp;&nbsp;&nbsp;&nbsp;12.95 |

---

**See Notes to Financial Statements**

------

MFS Diversified Income Fund

*Statement of Assets and Liabilities - continued*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&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 $13.52 [100 / 95.75 x $12.95]. On sales of $100,000 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 Diversified Income 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.

---

| | |
|:---|:---|
| **Year ended 2/28/26** <br> **Net investment income (loss)**<br>|  |
| Income |  |
| Interest | &nbsp;&nbsp; $45821032 |
| Dividends from affiliated issuers | &nbsp;&nbsp; 31468382 |
| Dividends from unaffiliated issuers | &nbsp;&nbsp; 22549256 |
| Other | &nbsp;&nbsp; 115430 |
| Income on securities loaned | &nbsp;&nbsp; 20935 |
| Foreign taxes withheld | &nbsp;&nbsp; (767539)<br>|
| Total investment income | &nbsp;&nbsp; $99207496 |
| Expenses |  |
| Management fee | &nbsp;&nbsp; $10435055 |
| Distribution and service fees | &nbsp;&nbsp; 3481080 |
| Shareholder servicing costs | &nbsp;&nbsp; 1753583 |
| Administrative services fee | &nbsp;&nbsp; 252525 |
| Independent Trustees' compensation | &nbsp;&nbsp; 41771 |
| Custodian fee | &nbsp;&nbsp; 250840 |
| Shareholder communications | &nbsp;&nbsp; 91226 |
| Audit and tax fees | &nbsp;&nbsp; 99521 |
| Legal fees | &nbsp;&nbsp; 10242 |
| Miscellaneous | &nbsp;&nbsp; 257844 |
| Total expenses | &nbsp;&nbsp; $16673687 |
| Fees paid indirectly | &nbsp;&nbsp; (2498)<br>|
| Reduction of expenses by investment adviser and distributor | &nbsp;&nbsp; (1207836)<br>|
| Net expenses | &nbsp;&nbsp; $15463353 |
| Net investment income (loss) | &nbsp;&nbsp; $83744143 |
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Unaffiliated issuers (includes $49,493 foreign capital gains tax) | &nbsp;&nbsp; $34450197 |
| Affiliated issuers | &nbsp;&nbsp; (960428)<br>|
| Futures contracts | &nbsp;&nbsp; 1645020 |
| Swap agreements | &nbsp;&nbsp; (177544)<br>|
| Forward foreign currency exchange contracts | &nbsp;&nbsp; (2323162)<br>|
| Foreign currency | &nbsp;&nbsp; 36450 |
| Net realized gain (loss) | &nbsp;&nbsp; $32670533 |
| Change in unrealized appreciation or depreciation |  |
| Unaffiliated issuers (includes $7,215 increase in deferred foreign capital gains tax) | &nbsp;&nbsp; $77968766 |
| Affiliated issuers | &nbsp;&nbsp; 3836003 |
| Futures contracts | &nbsp;&nbsp; (723922)<br>|
| Swap agreements | &nbsp;&nbsp; 82674 |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; 154042 |
| Translation of assets and liabilities in foreign currencies | &nbsp;&nbsp; 146818 |
| Net unrealized gain (loss) | &nbsp;&nbsp; $81464381 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $114134914 |
| Change in net assets from operations | &nbsp;&nbsp; $197879057 |

---

**See Notes to Financial Statements**

------

MFS Diversified Income 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.

---

| | | |
|:---|:---|:---|
|  | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $83744143 | &nbsp;&nbsp; $91876860 |
| Net realized gain (loss) | 32670533 | &nbsp;&nbsp; 55019988 |
| Net unrealized gain (loss) | 81464381 | &nbsp;&nbsp; 30578834 |
| Change in net assets from operations | $197879057 | &nbsp;&nbsp; $177475682 |
| Total distributions to shareholders | $(106781199)<br>| &nbsp;&nbsp; $(96688232)<br>|
| Change in net assets from fund share transactions | $(227526942)<br>| &nbsp;&nbsp; $(328704513)<br>|
| Total change in net assets | $(136429084)<br>| &nbsp;&nbsp; $(247917063)<br>|
| **Net assets** |  |  |
| At beginning of period | 2013925358 | &nbsp;&nbsp; 2261842421 |
| At end of period | $1877496274 | &nbsp;&nbsp; $2013925358 |

---

**See Notes to Financial Statements**

------

MFS Diversified Income Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the past 5 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**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $12.33 | &nbsp;&nbsp; $11.88 | &nbsp;&nbsp; $11.48 | &nbsp;&nbsp; $12.91 | &nbsp;&nbsp; $13.14 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.54 | &nbsp;&nbsp; $0.52 | &nbsp;&nbsp; $0.47 | &nbsp;&nbsp; $0.41 | &nbsp;&nbsp; $0.38 |
| Net realized and unrealized gain (loss) | 0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp; (1.31)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.07 |
| Total from investment operations | $1.31 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $0.83 | &nbsp;&nbsp; $(0.90)<br>| &nbsp;&nbsp; $0.45 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.69)<br>| &nbsp;&nbsp; $(0.55)<br>| &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(0.38)<br>| &nbsp;&nbsp; $(0.41)<br>|
| From net realized gain |  |  |  | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.27)<br>|
| Total distributions declared to shareholders | $(0.69)<br>| &nbsp;&nbsp; $(0.55)<br>| &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(0.68)<br>|
| Net asset value, end of period (x) | $12.95 | &nbsp;&nbsp; $12.33 | &nbsp;&nbsp; $11.88 | &nbsp;&nbsp; $11.48 | &nbsp;&nbsp; $12.91 |
| Total return (%) (r)(s)(t)(x) | 11.00 | &nbsp;&nbsp;&nbsp;&nbsp;8.52 | &nbsp;&nbsp;&nbsp;&nbsp;7.40 | &nbsp;&nbsp; (6.96)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.22 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f)(h) | 0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 |
| Expenses after expense reductions (f)(h) | 0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 |
| Net investment income (loss) | 4.34 | &nbsp;&nbsp;&nbsp;&nbsp;4.23 | &nbsp;&nbsp;&nbsp;&nbsp;4.11 | &nbsp;&nbsp;&nbsp;&nbsp;3.46 | &nbsp;&nbsp;&nbsp;&nbsp;2.78 |
| Portfolio turnover rate | 43 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 62 | &nbsp;&nbsp; 72 |
| Net assets at end of period (000 omitted) | $1100504 | &nbsp;&nbsp; $1147997 | &nbsp;&nbsp; $1220302 | &nbsp;&nbsp; $1300451 | &nbsp;&nbsp; $1563027 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class C**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $12.32 | &nbsp;&nbsp; $11.87 | &nbsp;&nbsp; $11.47 | &nbsp;&nbsp; $12.91 | &nbsp;&nbsp; $13.14 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.45 | &nbsp;&nbsp; $0.43 | &nbsp;&nbsp; $0.39 | &nbsp;&nbsp; $0.32 | &nbsp;&nbsp; $0.28 |
| Net realized and unrealized gain (loss) | 0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp; (1.32)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.06 |
| Total from investment operations | $1.22 | &nbsp;&nbsp; $0.90 | &nbsp;&nbsp; $0.74 | &nbsp;&nbsp; $(1.00)<br>| &nbsp;&nbsp; $0.34 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.60)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.29)<br>| &nbsp;&nbsp; $(0.30)<br>|
| From net realized gain |  |  |  | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.27)<br>|
| Total distributions declared to shareholders | $(0.60)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(0.57)<br>|
| Net asset value, end of period (x) | $12.94 | &nbsp;&nbsp; $12.32 | &nbsp;&nbsp; $11.87 | &nbsp;&nbsp; $11.47 | &nbsp;&nbsp; $12.91 |
| Total return (%) (r)(s)(t)(x) | 10.18 | &nbsp;&nbsp;&nbsp;&nbsp;7.71 | &nbsp;&nbsp;&nbsp;&nbsp;6.61 | &nbsp;&nbsp; (7.74)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.44 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f)(h) | 1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.72 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 |
| Expenses after expense reductions (f)(h) | 1.64 | &nbsp;&nbsp;&nbsp;&nbsp;1.64 | &nbsp;&nbsp;&nbsp;&nbsp;1.64 | &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 |
| Net investment income (loss) | 3.62 | &nbsp;&nbsp;&nbsp;&nbsp;3.51 | &nbsp;&nbsp;&nbsp;&nbsp;3.40 | &nbsp;&nbsp;&nbsp;&nbsp;2.71 | &nbsp;&nbsp;&nbsp;&nbsp;2.05 |
| Portfolio turnover rate | 43 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 62 | &nbsp;&nbsp; 72 |
| Net assets at end of period (000 omitted) | $60503 | &nbsp;&nbsp; $87071 | &nbsp;&nbsp; $139682 | &nbsp;&nbsp; $220775 | &nbsp;&nbsp; $355639 |

---

**See Notes to Financial Statements**

------

MFS Diversified Income Fund

*Financial Highlights - continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class I**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $12.32 | &nbsp;&nbsp; $11.87 | &nbsp;&nbsp; $11.47 | &nbsp;&nbsp; $12.91 | &nbsp;&nbsp; $13.14 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.57 | &nbsp;&nbsp; $0.55 | &nbsp;&nbsp; $0.50 | &nbsp;&nbsp; $0.44 | &nbsp;&nbsp; $0.41 |
| Net realized and unrealized gain (loss) | 0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp; (1.32)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.07 |
| Total from investment operations | $1.35 | &nbsp;&nbsp; $1.03 | &nbsp;&nbsp; $0.86 | &nbsp;&nbsp; $(0.88)<br>| &nbsp;&nbsp; $0.48 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.72)<br>| &nbsp;&nbsp; $(0.58)<br>| &nbsp;&nbsp; $(0.46)<br>| &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(0.44)<br>|
| From net realized gain |  |  |  | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.27)<br>|
| Total distributions declared to shareholders | $(0.72)<br>| &nbsp;&nbsp; $(0.58)<br>| &nbsp;&nbsp; $(0.46)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.71)<br>|
| Net asset value, end of period (x) | $12.95 | &nbsp;&nbsp; $12.32 | &nbsp;&nbsp; $11.87 | &nbsp;&nbsp; $11.47 | &nbsp;&nbsp; $12.91 |
| Total return (%) (r)(s)(t)(x) | 11.37 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 | &nbsp;&nbsp;&nbsp;&nbsp;7.67 | &nbsp;&nbsp; (6.81)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.47 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f)(h) | 0.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 |
| Expenses after expense reductions (f)(h) | 0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 |
| Net investment income (loss) | 4.59 | &nbsp;&nbsp;&nbsp;&nbsp;4.48 | &nbsp;&nbsp;&nbsp;&nbsp;4.37 | &nbsp;&nbsp;&nbsp;&nbsp;3.70 | &nbsp;&nbsp;&nbsp;&nbsp;3.03 |
| Portfolio turnover rate | 43 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 62 | &nbsp;&nbsp; 72 |
| Net assets at end of period (000 omitted) | $514348 | &nbsp;&nbsp; $558991 | &nbsp;&nbsp; $664290 | &nbsp;&nbsp; $816791 | &nbsp;&nbsp; $1145617 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R1**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $12.32 | &nbsp;&nbsp; $11.87 | &nbsp;&nbsp; $11.46 | &nbsp;&nbsp; $12.90 | &nbsp;&nbsp; $13.13 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.44 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.39 | &nbsp;&nbsp; $0.32 | &nbsp;&nbsp; $0.28 |
| Net realized and unrealized gain (loss) | 0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp; (1.32)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.06 |
| Total from investment operations | $1.22 | &nbsp;&nbsp; $0.90 | &nbsp;&nbsp; $0.75 | &nbsp;&nbsp; $(1.00)<br>| &nbsp;&nbsp; $0.34 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.60)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.29)<br>| &nbsp;&nbsp; $(0.30)<br>|
| From net realized gain |  |  |  | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.27)<br>|
| Total distributions declared to shareholders | $(0.60)<br>| &nbsp;&nbsp; $(0.45)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.44)<br>| &nbsp;&nbsp; $(0.57)<br>|
| Net asset value, end of period (x) | $12.94 | &nbsp;&nbsp; $12.32 | &nbsp;&nbsp; $11.87 | &nbsp;&nbsp; $11.46 | &nbsp;&nbsp; $12.90 |
| Total return (%) (r)(s)(t)(x) | 10.19 | &nbsp;&nbsp;&nbsp;&nbsp;7.72 | &nbsp;&nbsp;&nbsp;&nbsp;6.70 | &nbsp;&nbsp; (7.75)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.44 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f)(h) | 1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.72 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 |
| Expenses after expense reductions (f)(h) | 1.64 | &nbsp;&nbsp;&nbsp;&nbsp;1.64 | &nbsp;&nbsp;&nbsp;&nbsp;1.64 | &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 |
| Net investment income (loss) | 3.57 | &nbsp;&nbsp;&nbsp;&nbsp;3.47 | &nbsp;&nbsp;&nbsp;&nbsp;3.36 | &nbsp;&nbsp;&nbsp;&nbsp;2.70 | &nbsp;&nbsp;&nbsp;&nbsp;2.03 |
| Portfolio turnover rate | 43 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 62 | &nbsp;&nbsp; 72 |
| Net assets at end of period (000 omitted) | $215 | &nbsp;&nbsp; $189 | &nbsp;&nbsp; $178 | &nbsp;&nbsp; $180 | &nbsp;&nbsp; $225 |

---

**See Notes to Financial Statements**

------

MFS Diversified Income Fund

*Financial Highlights - continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R2**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $12.32 | &nbsp;&nbsp; $11.88 | &nbsp;&nbsp; $11.47 | &nbsp;&nbsp; $12.91 | &nbsp;&nbsp; $13.14 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.51 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.45 | &nbsp;&nbsp; $0.38 | &nbsp;&nbsp; $0.34 |
| Net realized and unrealized gain (loss) | 0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp; (1.32)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.07 |
| Total from investment operations | $1.29 | &nbsp;&nbsp; $0.96 | &nbsp;&nbsp; $0.81 | &nbsp;&nbsp; $(0.94)<br>| &nbsp;&nbsp; $0.41 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.66)<br>| &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.35)<br>| &nbsp;&nbsp; $(0.37)<br>|
| From net realized gain |  |  |  | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.27)<br>|
| Total distributions declared to shareholders | $(0.66)<br>| &nbsp;&nbsp; $(0.52)<br>| &nbsp;&nbsp; $(0.40)<br>| &nbsp;&nbsp; $(0.50)<br>| &nbsp;&nbsp; $(0.64)<br>|
| Net asset value, end of period (x) | $12.95 | &nbsp;&nbsp; $12.32 | &nbsp;&nbsp; $11.88 | &nbsp;&nbsp; $11.47 | &nbsp;&nbsp; $12.91 |
| Total return (%) (r)(s)(t)(x) | 10.82 | &nbsp;&nbsp;&nbsp;&nbsp;8.16 | &nbsp;&nbsp;&nbsp;&nbsp;7.23 | &nbsp;&nbsp; (7.28)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.96 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f)(h) | 1.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.21 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| Expenses after expense reductions (f)(h) | 1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.18 | &nbsp;&nbsp;&nbsp;&nbsp;1.23 |
| Net investment income (loss) | 4.09 | &nbsp;&nbsp;&nbsp;&nbsp;3.99 | &nbsp;&nbsp;&nbsp;&nbsp;3.88 | &nbsp;&nbsp;&nbsp;&nbsp;3.21 | &nbsp;&nbsp;&nbsp;&nbsp;2.53 |
| Portfolio turnover rate | 43 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 62 | &nbsp;&nbsp; 72 |
| Net assets at end of period (000 omitted) | $855 | &nbsp;&nbsp; $883 | &nbsp;&nbsp; $997 | &nbsp;&nbsp; $1289 | &nbsp;&nbsp; $1647 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R3**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $12.33 | &nbsp;&nbsp; $11.88 | &nbsp;&nbsp; $11.48 | &nbsp;&nbsp; $12.92 | &nbsp;&nbsp; $13.15 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.54 | &nbsp;&nbsp; $0.52 | &nbsp;&nbsp; $0.48 | &nbsp;&nbsp; $0.41 | &nbsp;&nbsp; $0.38 |
| Net realized and unrealized gain (loss) | 0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp; (1.32)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.07 |
| Total from investment operations | $1.32 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $0.83 | &nbsp;&nbsp; $(0.91)<br>| &nbsp;&nbsp; $0.45 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.69)<br>| &nbsp;&nbsp; $(0.55)<br>| &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(0.38)<br>| &nbsp;&nbsp; $(0.41)<br>|
| From net realized gain |  |  |  | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.27)<br>|
| Total distributions declared to shareholders | $(0.69)<br>| &nbsp;&nbsp; $(0.55)<br>| &nbsp;&nbsp; $(0.43)<br>| &nbsp;&nbsp; $(0.53)<br>| &nbsp;&nbsp; $(0.68)<br>|
| Net asset value, end of period (x) | $12.96 | &nbsp;&nbsp; $12.33 | &nbsp;&nbsp; $11.88 | &nbsp;&nbsp; $11.48 | &nbsp;&nbsp; $12.92 |
| Total return (%) (r)(s)(t)(x) | 11.09 | &nbsp;&nbsp;&nbsp;&nbsp;8.52 | &nbsp;&nbsp;&nbsp;&nbsp;7.40 | &nbsp;&nbsp; (7.04)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.21 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f)(h) | 0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;&nbsp;0.99 |
| Expenses after expense reductions (f)(h) | 0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 |
| Net investment income (loss) | 4.34 | &nbsp;&nbsp;&nbsp;&nbsp;4.25 | &nbsp;&nbsp;&nbsp;&nbsp;4.19 | &nbsp;&nbsp;&nbsp;&nbsp;3.45 | &nbsp;&nbsp;&nbsp;&nbsp;2.78 |
| Portfolio turnover rate | 43 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 62 | &nbsp;&nbsp; 72 |
| Net assets at end of period (000 omitted) | $7410 | &nbsp;&nbsp; $7885 | &nbsp;&nbsp; $10443 | &nbsp;&nbsp; $21712 | &nbsp;&nbsp; $22253 |

---

**See Notes to Financial Statements**

------

MFS Diversified Income Fund

*Financial Highlights - continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R4**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $12.33 | &nbsp;&nbsp; $11.88 | &nbsp;&nbsp; $11.48 | &nbsp;&nbsp; $12.92 | &nbsp;&nbsp; $13.15 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.59 | &nbsp;&nbsp; $0.55 | &nbsp;&nbsp; $0.49 | &nbsp;&nbsp; $0.44 | &nbsp;&nbsp; $0.42 |
| Net realized and unrealized gain (loss) | 0.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp; (1.32)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.06 |
| Total from investment operations | $1.34 | &nbsp;&nbsp; $1.03 | &nbsp;&nbsp; $0.86 | &nbsp;&nbsp; $(0.88)<br>| &nbsp;&nbsp; $0.48 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.72)<br>| &nbsp;&nbsp; $(0.58)<br>| &nbsp;&nbsp; $(0.46)<br>| &nbsp;&nbsp; $(0.41)<br>| &nbsp;&nbsp; $(0.44)<br>|
| From net realized gain |  |  |  | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.27)<br>|
| Total distributions declared to shareholders | $(0.72)<br>| &nbsp;&nbsp; $(0.58)<br>| &nbsp;&nbsp; $(0.46)<br>| &nbsp;&nbsp; $(0.56)<br>| &nbsp;&nbsp; $(0.71)<br>|
| Net asset value, end of period (x) | $12.95 | &nbsp;&nbsp; $12.33 | &nbsp;&nbsp; $11.88 | &nbsp;&nbsp; $11.48 | &nbsp;&nbsp; $12.92 |
| Total return (%) (r)(s)(t)(x) | 11.28 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 | &nbsp;&nbsp;&nbsp;&nbsp;7.67 | &nbsp;&nbsp; (6.80)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.47 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f)(h) | 0.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.74 |
| Expenses after expense reductions (f)(h) | 0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 |
| Net investment income (loss) | 4.85 | &nbsp;&nbsp;&nbsp;&nbsp;4.47 | &nbsp;&nbsp;&nbsp;&nbsp;4.27 | &nbsp;&nbsp;&nbsp;&nbsp;3.71 | &nbsp;&nbsp;&nbsp;&nbsp;3.05 |
| Portfolio turnover rate | 43 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 62 | &nbsp;&nbsp; 72 |
| Net assets at end of period (000 omitted) | $2706 | &nbsp;&nbsp; $17456 | &nbsp;&nbsp; $16613 | &nbsp;&nbsp; $4146 | &nbsp;&nbsp; $5995 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R6**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $12.33 | &nbsp;&nbsp; $11.88 | &nbsp;&nbsp; $11.48 | &nbsp;&nbsp; $12.91 | &nbsp;&nbsp; $13.14 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.58 | &nbsp;&nbsp; $0.56 | &nbsp;&nbsp; $0.51 | &nbsp;&nbsp; $0.45 | &nbsp;&nbsp; $0.42 |
| Net realized and unrealized gain (loss) | 0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp; (1.31)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.07 |
| Total from investment operations | $1.35 | &nbsp;&nbsp; $1.04 | &nbsp;&nbsp; $0.87 | &nbsp;&nbsp; $(0.86)<br>| &nbsp;&nbsp; $0.49 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.73)<br>| &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(0.42)<br>| &nbsp;&nbsp; $(0.45)<br>|
| From net realized gain |  |  |  | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.27)<br>|
| Total distributions declared to shareholders | $(0.73)<br>| &nbsp;&nbsp; $(0.59)<br>| &nbsp;&nbsp; $(0.47)<br>| &nbsp;&nbsp; $(0.57)<br>| &nbsp;&nbsp; $(0.72)<br>|
| Net asset value, end of period (x) | $12.95 | &nbsp;&nbsp; $12.33 | &nbsp;&nbsp; $11.88 | &nbsp;&nbsp; $11.48 | &nbsp;&nbsp; $12.91 |
| Total return (%) (r)(s)(t)(x) | 11.38 | &nbsp;&nbsp;&nbsp;&nbsp;8.88 | &nbsp;&nbsp;&nbsp;&nbsp;7.77 | &nbsp;&nbsp; (6.64)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.57 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f)(h) | 0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 |
| Expenses after expense reductions (f)(h) | 0.55 | &nbsp;&nbsp;&nbsp;&nbsp;0.55 | &nbsp;&nbsp;&nbsp;&nbsp;0.55 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 |
| Net investment income (loss) | 4.67 | &nbsp;&nbsp;&nbsp;&nbsp;4.57 | &nbsp;&nbsp;&nbsp;&nbsp;4.45 | &nbsp;&nbsp;&nbsp;&nbsp;3.79 | &nbsp;&nbsp;&nbsp;&nbsp;3.12 |
| Portfolio turnover rate | 43 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 62 | &nbsp;&nbsp; 72 |
| Net assets at end of period (000 omitted) | $190956 | &nbsp;&nbsp; $193454 | &nbsp;&nbsp; $209338 | &nbsp;&nbsp; $223996 | &nbsp;&nbsp; $260384 |

---

**See Notes to Financial Statements**

------

MFS Diversified Income Fund

*Financial Highlights - continued*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&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;(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;(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 Diversified Income Fund

**Notes to Financial Statements**

**(1) Business and Organization**

MFS Diversified Income Fund (the fund) is a diversified series of MFS Series Trust XIII (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 the MFS High Yield Pooled Portfolio ("High Yield Pooled Portfolio"). MFS does not receive a management fee from the High Yield Pooled Portfolio. The High Yield Pooled Portfolio's investment objective is to seek total return with an emphasis on high current income, but also considering capital appreciation. The accounting policies of the High Yield Pooled Portfolio are outlined in its financial statements, which is available without charge by calling 1-800-225-2606 and on the Securities and Exchange Commission (SEC) web site at http://www.sec.gov. The accounting policies detailed in the Significant Accounting Policies note cover both the fund and the High Yield Pooled Portfolio. For purposes of this policy disclosure, "fund" refers to both the fund and the High Yield Pooled Portfolio in which the fund invests. The High Yield Pooled Portfolio's financial statements are not covered by this report. The fund and the High Yield Pooled Portfolio invest 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. The fund and the High Yield Pooled Portfolio invest 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. The fund invests a significant amount of its net assets in U.S. and foreign real estate related investments and as a result is subject to certain risks associated with the direct ownership of real estate and the real estate industry in general. These include risks related to general, regional and local economic conditions; difficulties in valuing and disposing of real estate; fluctuations in interest rates and property tax rates, shifts in zoning laws, environmental regulations and other governmental action; cash flow dependency; increased operating expenses; lack of availability of mortgage funds; losses due to natural disasters; overbuilding; losses due to casualty or condemnation; changes in property values and rental rates; the management skill and creditworthiness of the manager; and other factors. The fund invests in emerging market issuers. 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.

**Segment Reporting** — 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

------

MFS Diversified Income Fund

*Notes to Financial Statements - continued* 

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** — The investments of the fund and the High Yield Pooled Portfolio are valued as described below.

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. 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. 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

------

MFS Diversified Income Fund

*Notes to Financial Statements - continued* 

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. Other financial instruments are derivative instruments, such as futures contracts, forward foreign currency exchange contracts, and swap agreements. The following is a summary of the levels used as of February 28, 2026 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities: |  |  |  |  |
| United States | $447062027 | $— | $— | $447062027 |
| France | 30344427 |  |  | 30344427 |
| Japan | 29961606 |  |  | 29961606 |
| United Kingdom | 28118012 |  |  | 28118012 |
| China | 27585425 |  |  | 27585425 |
| Switzerland | 20454480 |  |  | 20454480 |
| Brazil | 12797981 |  |  | 12797981 |
| Italy | 12353644 |  |  | 12353644 |
| Canada | 10997528 |  |  | 10997528 |
| Other Countries | 52737862 | 7294860 | 0 | 60032722 |
| U.S. Treasury Bonds & U.S. Government <br> Agencies & Equivalents<br>|  | 86568896 |  | 86568896 |
| Non - U.S. Sovereign Debt |  | 249695380 |  | 249695380 |
| Municipal Bonds |  | 2931021 |  | 2931021 |
| U.S. Corporate Bonds |  | 175739554 |  | 175739554 |
| Residential Mortgage-Backed Securities |  | 113906156 |  | 113906156 |
| Commercial Mortgage-Backed Securities |  | 6756475 |  | 6756475 |
| Asset-Backed Securities (including CDOs) |  | 9944072 |  | 9944072 |
| Foreign Bonds |  | 120056709 |  | 120056709 |
| Purchased Options | 2761250 | 1255266 |  | 4016516 |
| Investment Companies | 427913532 |  |  | 427913532 |
| Total | $1103087774 | $774148389 | $0 | $1877236163 |

---

---

| | | |
|:---|:---|:---|
| **Other Financial Instruments** |  |  |
| Futures Contracts – Assets | $— | $340616 |
| Futures Contracts – Liabilities |  | (190902)<br>|
| Forward Foreign Currency Exchange <br> Contracts – Assets<br>| 251735 | 251735 |
| Forward Foreign Currency Exchange <br> Contracts – Liabilities<br>| (424146)<br>| (424146)<br>|
| Swap Agreements – Assets | 5365 | 5365 |
| Swap Agreements – Liabilities | (132806)<br>| (132806)<br>|

---

For further information regarding security characteristics, see the Portfolio of Investments. Please refer to the High Yield Pooled Portfolio's financial statements for further information regarding the levels used in valuing its assets and liabilities.

At February 28, 2026, the fund held one level 3 security valued at $0, which was also held and valued at $0 at February 28, 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

------

MFS Diversified Income Fund

*Notes to Financial Statements - continued* 

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.

**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, futures contracts, forward foreign currency exchange contracts, and swap agreements. 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 may be unable to promptly close out a futures position in instances where the daily fluctuation in the price for that type of future exceeds the daily limit set by the exchange. 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 February 28, 2026 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 | $3969812 | $— |
| Interest Rate | Purchased Option Contracts | 46704 |  |
| Interest Rate | Futures Contracts | 340616 | (190902) |
| Foreign Exchange | Forward Foreign Currency Exchange Contracts | 251735 | (424146) |
| Interest Rate | Cleared Swap Agreements | 5365 | (132806) |
| Total |  | $4614232 | $(747854) |

---

(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 and cleared swap agreements correspond to the values reported in the Portfolio of Investments. Only the current day net variation margin for futures contracts and cleared swap agreements 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 year ended February 28, 2026 as reported in the Statement of Operations:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Risk** | **Futures** <br>**Contracts**<br>| **Swap** <br>**Agreements**<br>| **Forward Foreign** <br>**Currency** <br>**Exchange** <br>**Contracts**<br>| **Unaffiliated Issuers** <br>**(Purchased** <br>**Options)**<br>|
| Interest Rate | $1645020 | &nbsp;&nbsp; $(177544)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Foreign Exchange |  | &nbsp;&nbsp; — | &nbsp;&nbsp; (2323162)<br>| &nbsp;&nbsp; — |
| Equity |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2254405 |
| Total | $1645020 | &nbsp;&nbsp; $(177544)<br>| &nbsp;&nbsp; $(2323162)<br>| &nbsp;&nbsp; $2254405 |

---

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 year ended February 28, 2026 as reported in the Statement of Operations:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Risk** | **Futures** <br>**Contracts**<br>| **Swap** <br>**Agreements**<br>| **Forward Foreign** <br>**Currency** <br>**Exchange** <br>**Contracts**<br>| **Unaffiliated Issuers** <br>**(Purchased** <br>**Options)**<br>|
| Interest Rate | $(723922)<br>| &nbsp;&nbsp; $82674 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(9546)<br>|
| Foreign Exchange |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 154042 | &nbsp;&nbsp; — |
| Equity |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (1167549)<br>|
| Total | $(723922)<br>| &nbsp;&nbsp; $82674 | &nbsp;&nbsp; $154042 | &nbsp;&nbsp; $(1177095)<br>|

---

------

MFS Diversified Income Fund

*Notes to Financial Statements - continued* 

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 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.

**Purchased Options** — The fund purchased call and put options for a premium. Purchased call and put options entitle the holder to buy and 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 call options may hedge against an anticipated increase in the dollar cost of securities or currency to be acquired or increase the fund's exposure to an underlying instrument. 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.

A purchased swaption represents an option that gives the fund as purchaser the right, but not the obligation, to enter into a pre-defined interest rate swap agreement with the counterparty at a specified rate at a specified date or within a specified period of time. The fund enters into swaptions primarily to preserve a return or spread on a particular investment or portion of the fund's investments, to adjust the fund's sensitivity to underlying risk factors or to protect against an increase or decrease in the price of securities.

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 call and 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 call option, the premium paid is added to the cost of the security or financial instrument purchased. 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.

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.

------

MFS Diversified Income Fund

*Notes to Financial Statements - continued* 

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.

**Forward Foreign Currency Exchange Contracts** — The fund entered into forward foreign currency exchange contracts for the purchase or sale of a specific foreign currency at a fixed price on a future date. These contracts may be used to hedge the fund's currency risk or for non-hedging purposes. For hedging purposes, the fund may enter into contracts to deliver or receive foreign currency that the fund will receive from or use in its normal investment activities. The fund may also use contracts to hedge against declines in the value of foreign currency denominated securities due to unfavorable exchange rate movements. For non-hedging purposes, the fund may enter into contracts with the intent of changing the relative exposure of the fund's portfolio of securities to different currencies to take advantage of anticipated exchange rate changes.

Forward foreign currency exchange contracts are adjusted by the daily exchange rate of the underlying currency and any unrealized gains or losses are recorded as a receivable or payable for forward foreign currency exchange contracts until the contract settlement date. On contract settlement date, any gain or loss on the contract is recorded as realized gains or losses on forward foreign currency exchange contracts.

Risks may arise upon entering into these contracts from unanticipated movements in the value of the contract and from the potential inability of counterparties to meet the terms of their contracts. Generally, the fund's maximum risk due to counterparty credit risk is the unrealized gain on the contract due to the use of Continuous Linked Settlement, a multicurrency cash settlement system for the centralized settlement of foreign transactions. 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.

**Swap Agreements** — The fund entered into swap agreements which generally involve a periodic exchange of cash payments on a net basis, at specified intervals or upon the occurrence of specified events, between the fund and a counterparty. Certain swap agreements may be entered into as a bilateral contract ("uncleared swaps") while others are required to be centrally cleared ("cleared swaps").

Both cleared and uncleared swap agreements are marked to market daily. The value of uncleared swap agreements is reported in the Statement of Assets and Liabilities as "Uncleared swaps, at value" which includes any related interest accruals to be paid or received by the fund. For cleared swaps, payments (variation margin) are made or received by the fund each day, depending on the daily fluctuations in the value of the cleared swap, such that only the current day net receivable or payable for variation margin is reported in the Statement of Assets and Liabilities.

For both cleared and uncleared swaps, premiums paid or received at the inception of the agreements are amortized over the term of the agreement as realized gain or loss on swap agreements in the Statement of Operations. The periodic exchange of net cash payments, as well as any liquidation payment received or made upon early termination, are recorded as a realized gain or loss on swap agreements in the Statement of Operations. The change in unrealized appreciation or depreciation on swap agreements in the Statement of Operations reflects the aggregate change over the reporting period in the value of swaps net of any unamortized premiums paid or received.

Risks related to swap agreements include the possible lack of a liquid market, unfavorable market and interest rate movements of the underlying instrument and the failure of the counterparty to perform under the terms of the agreements. The fund's maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from/paid to the counterparty over the contract's remaining life, to the extent that the amount is positive. To address counterparty risk, uncleared swap agreements are limited to only highly-rated counterparties. Risk is further reduced by having an ISDA Master Agreement ("ISDA") between the fund and the counterparty 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. The fund's counterparty risk due to cleared swaps is mitigated by the fact that the clearinghouse is the counterparty to the transaction and the regulatory requirement safeguards in the event of a clearing broker bankruptcy.

The fund entered into interest rate swap agreements in order to manage its exposure to interest rate fluctuations. Interest rate swap agreements involve the periodic exchange of cash flows, between the fund and a counterparty, based on the difference between two interest rates applied to a notional principal amount. The two interest rates exchanged may either be a fixed rate and a floating rate or two floating rates based on different indices.

------

MFS Diversified Income Fund

*Notes to Financial Statements - continued* 

The fund entered into inflation swap agreements in order to manage its exposure to inflation risk. Inflation swap agreements involve the periodic exchange of cash flows, between the fund and a counterparty, based on the difference between two rates applied to a notional principal amount. The two rates exchanged are generally a fixed rate and a floating rate based on an inflation index.

**Mortgage-Backed/Asset-Backed Securities** — The fund invests a significant portion of its 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.

**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 $1,738,143. The fair value of the fund's investment securities on loan and a related liability of $112,350 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 $1,766,170 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 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** — 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. 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. Distributions from REITs may be characterized as ordinary income, net capital gain, or a return of capital to the fund. The proper characterization of REIT distributions is generally not known until after the end of each calendar year. As such, estimates are used in reporting the character of income and distributions for financial statement purposes. The fund receives substantial distributions from holdings in REITs. Debt obligations may be placed on non-accrual status or set to accrue at a rate of interest less than the contractual coupon when the collection of all or a portion of interest has become doubtful. Interest income for those debt obligations may be further reduced by the write-off of the related interest receivables when deemed uncollectible.

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.

------

MFS Diversified Income Fund

*Notes to Financial Statements - continued* 

The fund may purchase or sell mortgage-backed securities on a To Be Announced ("TBA") basis. A TBA transaction is subject to extended settlement and typically does not designate the actual security to be delivered, but instead includes an approximate principal amount. The price of the TBA security and the date that it will be settled are fixed at the time the transaction is negotiated. The value of the security varies with market fluctuations and no interest accrues to the fund until settlement takes place. TBA purchase and sale commitments are held at carrying amount, which approximates fair value and are categorized as level 2 within the fair value hierarchy and included in TBA purchase and TBA sale commitments in the Statement of Assets and Liabilities, as applicable. Losses may arise as a result of changes in the value of the TBA investment prior to settlement date or due to counterparty non-performance.

The fund may also enter into mortgage dollar rolls, typically TBA dollar rolls, in which the fund sells TBA mortgage-backed securities to financial institutions and simultaneously agrees to repurchase similar (same issuer, type and coupon) securities at a later date at an agreed-upon price. During the period between the sale and repurchase, the fund will not be entitled to receive interest and principal payments on the securities sold. The fund accounts for dollar roll transactions as purchases and sales and realizes gains and losses on these transactions. Dollar roll transactions involve the risk that the market value of the securities that the fund is required to purchase may decline below the agreed upon repurchase price of those securities.

The fund may purchase or sell securities on a when-issued or delayed delivery basis. In these extended settlement transactions, the receipt or delivery of the securities by the fund and related payments occur at a future date, usually beyond the customary settlement period. The price of such security and the date that the security will be settled are generally fixed at the time the transaction is negotiated. The value of the security varies with market fluctuations and for debt securities no interest accrues to the fund until settlement takes place. When the fund sells securities on a when-issued or delayed delivery basis, the fund typically owns or has the right to acquire securities equivalent in kind and amount to the securities sold. Purchase and sale commitments for when-issued or delayed delivery securities are held at carrying amount, which approximates fair value and are categorized as level 2 within the fair value hierarchy, and included in When-issued investments purchased and When-issued investments sold in the Statement of Assets and Liabilities, as applicable. Losses may arise due to changes in the value of the underlying securities prior to settlement date or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities.

To mitigate the counterparty credit risk on To Be Announced ("TBA") transactions, mortgage dollar rolls, and other types of forward settling mortgage-backed and asset-backed security transactions, the fund whenever possible enters into a Master Securities Forward Transaction Agreement ("MSFTA") on a bilateral basis with each of the counterparties with whom it undertakes a significant volume of transactions. The MSFTA 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 MSFTA, the non-defaulting party has the right to close out all transactions traded under such agreement and to net amounts owed under each transaction 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 MSFTA 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.

For mortgage-backed and asset-backed securities traded under a MSFTA, the collateral and margining requirements are contract specific. Collateral amounts across all transactions traded under such agreement are netted and an amount is posted from one party to the other to collateralize such obligations. Cash that has been pledged to cover the fund's collateral or margin obligations under a MSFTA, if any, will be reported separately on the Statement of Assets and Liabilities as restricted cash. Securities pledged as collateral or margin for the same purpose, if any, are noted in the Portfolio of Investments.

**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 year ended February 28, 2026, 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.

------

MFS Diversified Income Fund

*Notes to Financial Statements - 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 amortization of premium and accretion of discount of debt securities, passive foreign investment companies, wash sale loss deferrals, straddle loss deferrals, and derivative transactions.

The tax character of distributions declared to shareholders for the last two fiscal years is as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**2/28/26**<br>| &nbsp;&nbsp; **Year ended** <br>**2/28/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $106781199 | &nbsp;&nbsp; $96688232 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

---

| | |
|:---|:---|
| **As of 2/28/26** |  |
| Cost of investments | &nbsp;&nbsp; $1716033551 |
| Gross appreciation | &nbsp;&nbsp; 198330622 |
| Gross depreciation | &nbsp;&nbsp; (37278148)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $161052474 |
| Undistributed ordinary income | &nbsp;&nbsp; 10022479 |
| Capital loss carryforwards | &nbsp;&nbsp; (22974268)<br>|
| Other temporary differences | &nbsp;&nbsp; (8400661)<br>|
| Total distributable earnings (loss) | &nbsp;&nbsp; $139700024 |

---

As of February 28, 2026, 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 | $(22974268)<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 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 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:

---

| | | |
|:---|:---|:---|
|  | **Year** <br>**ended** <br>**2/28/26**<br>| **Year** <br>**ended** <br>**2/28/25**<br>|
| Class A | $61035181 | &nbsp;&nbsp; $52990172 |
| Class C | 3384226 | &nbsp;&nbsp; 4147503 |
| Class I | 30424798 | &nbsp;&nbsp; 28599417 |
| Class R1 | 9472 | &nbsp;&nbsp; 6966 |
| Class R2 | 44245 | &nbsp;&nbsp; 43199 |
| Class R3 | 439674 | &nbsp;&nbsp; 391088 |
| Class R4 | 361126 | &nbsp;&nbsp; 823220 |
| Class R6 | 11082477 | &nbsp;&nbsp; 9686667 |
| Total | $106781199 | &nbsp;&nbsp; $96688232 |

---

------

MFS Diversified Income Fund

*Notes to Financial Statements - 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. 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 | 0.55% |
| In excess of $5 billion | 0.50% |

---

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 June 30, 2026. For the year ended February 28, 2026, this management fee reduction amounted to $262,272, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the year ended February 28, 2026 was equivalent to an annual effective rate of 0.54% 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:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classes** | **Classes** | **Classes** | **Classes** | **Classes** | **Classes** | **Classes** | **Classes** |
| **A** | **C** | **I** | **R1** | **R2** | **R3** | **R4** | **R6** |
| 0.89% | 1.64% | 0.64% | 1.64% | 1.14% | 0.89% | 0.64% | 0.55% |

---

This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until June 30, 2027. For the year ended February 28, 2026, this reduction amounted to $944,859, 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 $13,470 for the year ended February 28, 2026, 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% | $2745812 |
| Class C | 0.75% | 0.25% | 1.00% | 1.00% | 709397 |
| Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 1961 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 4185 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 19725 |
| Total Distribution and Service Fees  |  |  |  |  | $3481080 |

---

(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 year ended February 28, 2026 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 year ended February 28, 2026, this rebate amounted to $540 and $165 for Class A and Class C shares, respectively, and is included in the reduction of total expenses in the Statement of Operations.

------

MFS Diversified Income Fund

*Notes to Financial Statements - 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 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 year ended February 28, 2026, were as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| Class A | $5426 |
| Class C | 2684 |

---

**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 year ended February 28, 2026, the fee was $173,517, which equated to 0.0091% 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 year ended February 28, 2026, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $1,580,066.

**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 year ended February 28, 2026 was equivalent to an annual effective rate of 0.0133% 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.

The fund invests in the MFS High Yield Pooled Portfolio, which is a mutual fund advised by MFS that does not pay management fees to MFS and does not pay distribution and/or service fees to MFD, but does incur investment and operating costs. The fund invests in MFS High Yield Pooled Portfolio to gain exposure to high income debt instruments, rather than investing in high income debt instruments directly. Income earned on this investment is included in "Dividends from affiliated issuers" in the Statement of Operations.

MFS purchased or redeemed fund shares on the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| 8/19/2024 | Redemption | Class A | 13 | $160 |
| 8/19/2024 | Redemption | Class C | 11 | 135 |
| 8/19/2024 | Redemption | Class I | 11 | 131 |
| 8/19/2024 | Redemption | Class R3 | 4 | 45 |
| 8/19/2024 | Redemption | Class R4 | 4 | 47 |

---

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 year ended February 28, 2026, this reimbursement amounted to $41,990, which is included in "Other" income in the Statement of Operations.

**(4) Portfolio Securities**

For the year ended February 28, 2026, 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, were as follows:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
| U.S. Government securities | $198553750 | &nbsp;&nbsp; $279078408 |
| Non-U.S. Government securities | 601568048 | &nbsp;&nbsp; 794679561 |

---

------

MFS Diversified Income Fund

*Notes to Financial Statements - continued* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(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:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended** <br>**2/28/26** | **Year ended** <br>**2/28/26** | **Year ended** <br>**2/28/25** | **Year ended** <br>**2/28/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 5270398 | &nbsp;&nbsp; $65287466 | &nbsp;&nbsp; 6653151 | &nbsp;&nbsp; $81124742 |
| Class C | 210600 | &nbsp;&nbsp; 2613608 | &nbsp;&nbsp; 324123 | &nbsp;&nbsp; 3946721 |
| Class I | 5680554 | &nbsp;&nbsp; 69977514 | &nbsp;&nbsp; 5098581 | &nbsp;&nbsp; 62081799 |
| Class R1 | 874 | &nbsp;&nbsp; 10825 | &nbsp;&nbsp; 1217 | &nbsp;&nbsp; 14815 |
| Class R2 | 5480 | &nbsp;&nbsp; 67455 | &nbsp;&nbsp; 7106 | &nbsp;&nbsp; 86312 |
| Class R3 | 88628 | &nbsp;&nbsp; 1097347 | &nbsp;&nbsp; 134397 | &nbsp;&nbsp; 1636593 |
| Class R4 | 60508 | &nbsp;&nbsp; 741377 | &nbsp;&nbsp; 171354 | &nbsp;&nbsp; 2087529 |
| Class R6 | 2296527 | &nbsp;&nbsp; 28546192 | &nbsp;&nbsp; 2238613 | &nbsp;&nbsp; 27232664 |
|  | 13613569 | &nbsp;&nbsp; $168341784 | &nbsp;&nbsp; 14628542 | &nbsp;&nbsp; $178211175 |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A | 4672937 | &nbsp;&nbsp; $58135234 | &nbsp;&nbsp; 4126274 | &nbsp;&nbsp; $50463528 |
| Class C | 262139 | &nbsp;&nbsp; 3255933 | &nbsp;&nbsp; 323029 | &nbsp;&nbsp; 3945946 |
| Class I | 2005660 | &nbsp;&nbsp; 24934099 | &nbsp;&nbsp; 1927992 | &nbsp;&nbsp; 23563107 |
| Class R1 | 761 | &nbsp;&nbsp; 9466 | &nbsp;&nbsp; 568 | &nbsp;&nbsp; 6943 |
| Class R2 | 3506 | &nbsp;&nbsp; 43590 | &nbsp;&nbsp; 3499 | &nbsp;&nbsp; 42794 |
| Class R3 | 35263 | &nbsp;&nbsp; 438921 | &nbsp;&nbsp; 31578 | &nbsp;&nbsp; 386091 |
| Class R4 | 29354 | &nbsp;&nbsp; 361075 | &nbsp;&nbsp; 67228 | &nbsp;&nbsp; 822488 |
| Class R6 | 862318 | &nbsp;&nbsp; 10728164 | &nbsp;&nbsp; 766234 | &nbsp;&nbsp; 9369147 |
|  | 7871938 | &nbsp;&nbsp; $97906482 | &nbsp;&nbsp; 7246402 | &nbsp;&nbsp; $88600044 |
| Shares reacquired |  |  |  |  |
| Class A | (18098120)<br>| &nbsp;&nbsp; $(224150180)<br>| &nbsp;&nbsp; (20386394)<br>| &nbsp;&nbsp; $(248405095)<br>|
| Class C | (2865355)<br>| &nbsp;&nbsp; (35378295)<br>| &nbsp;&nbsp; (5345125)<br>| &nbsp;&nbsp; (65095005)<br>|
| Class I | (13320438)<br>| &nbsp;&nbsp; (164958467)<br>| &nbsp;&nbsp; (17608326)<br>| &nbsp;&nbsp; (214043836)<br>|
| Class R1 | (336)<br>| &nbsp;&nbsp; (4094)<br>| &nbsp;&nbsp; (1460)<br>| &nbsp;&nbsp; (17977)<br>|
| Class R2 | (14658)<br>| &nbsp;&nbsp; (179707)<br>| &nbsp;&nbsp; (22914)<br>| &nbsp;&nbsp; (273996)<br>|
| Class R3 | (191343)<br>| &nbsp;&nbsp; (2389228)<br>| &nbsp;&nbsp; (405492)<br>| &nbsp;&nbsp; (4926185)<br>|
| Class R4 | (1296524)<br>| &nbsp;&nbsp; (15778466)<br>| &nbsp;&nbsp; (221110)<br>| &nbsp;&nbsp; (2697675)<br>|
| Class R6 | (4107773)<br>| &nbsp;&nbsp; (50936771)<br>| &nbsp;&nbsp; (4934981)<br>| &nbsp;&nbsp; (60055963)<br>|
|  | (39894547)<br>| &nbsp;&nbsp; $(493775208)<br>| &nbsp;&nbsp; (48925802)<br>| &nbsp;&nbsp; $(595515732)<br>|
| Net change |  |  |  |  |
| Class A | (8154785)<br>| &nbsp;&nbsp; $(100727480)<br>| &nbsp;&nbsp; (9606969)<br>| &nbsp;&nbsp; $(116816825)<br>|
| Class C | (2392616)<br>| &nbsp;&nbsp; (29508754)<br>| &nbsp;&nbsp; (4697973)<br>| &nbsp;&nbsp; (57202338)<br>|
| Class I | (5634224)<br>| &nbsp;&nbsp; (70046854)<br>| &nbsp;&nbsp; (10581753)<br>| &nbsp;&nbsp; (128398930)<br>|
| Class R1 | 1299 | &nbsp;&nbsp; 16197 | &nbsp;&nbsp; 325 | &nbsp;&nbsp; 3781 |
| Class R2 | (5672)<br>| &nbsp;&nbsp; (68662)<br>| &nbsp;&nbsp; (12309)<br>| &nbsp;&nbsp; (144890)<br>|
| Class R3 | (67452)<br>| &nbsp;&nbsp; (852960)<br>| &nbsp;&nbsp; (239517)<br>| &nbsp;&nbsp; (2903501)<br>|
| Class R4 | (1206662)<br>| &nbsp;&nbsp; (14676014)<br>| &nbsp;&nbsp; 17472 | &nbsp;&nbsp; 212342 |
| Class R6 | (948928)<br>| &nbsp;&nbsp; (11662415)<br>| &nbsp;&nbsp; (1930134)<br>| &nbsp;&nbsp; (23454152)<br>|
|  | (18409040)<br>| &nbsp;&nbsp; $(227526942)<br>| &nbsp;&nbsp; (27050858)<br>| &nbsp;&nbsp; $(328704513)<br>|

---

Effective September 29, 2023, purchases of the fund's Class R1 and Class R2 shares were closed to new eligible investors.

------

MFS Diversified Income Fund

*Notes to Financial Statements - continued* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(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), 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 11, 2027 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 year ended February 28, 2026, the fund's commitment fee and interest expense were $9,305 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 year ended February 28, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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 High Yield Pooled Portfolio | &nbsp;&nbsp; $453541129 | &nbsp;&nbsp; $35947176 | &nbsp;&nbsp; $80027191 | &nbsp;&nbsp; $(957877)<br>| &nbsp;&nbsp; $3836893 | &nbsp;&nbsp; $412340130 |
| MFS Institutional Money Market <br> Portfolio<br>| &nbsp;&nbsp; 20885712 | &nbsp;&nbsp; 501257856 | &nbsp;&nbsp; 506679075 | &nbsp;&nbsp; (2551)<br>| &nbsp;&nbsp; (890)<br>| &nbsp;&nbsp; 15461052 |
|  | &nbsp;&nbsp; $474426841 | &nbsp;&nbsp; $537205032 | &nbsp;&nbsp; $586706266 | &nbsp;&nbsp; $(960428)<br>| &nbsp;&nbsp; $3836003 | &nbsp;&nbsp; $427801182 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| MFS High Yield Pooled Portfolio | &nbsp;&nbsp; $30047631 | $— |
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; 1420751 |  |
|  | &nbsp;&nbsp; $31468382 | $— |

---

**(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.

------

MFS Diversified Income Fund

**Report of Independent Registered Public Accounting Firm**

To the Shareholders of MFS Diversified Income Fund and the Board of Trustees of MFS Series Trust XIII

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities of MFS Diversified Income Fund (the "Fund") (one of the funds constituting MFS Series Trust XIII (the "Trust")), including the portfolio of investments, as of February 28, 2026, and the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund (one of the funds constituting MFS Series Trust XIII) at February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and its financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

**Basis for Opinion**

These financial statements are the responsibility of the Trust's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust's internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Ernst & Young LLP

We have served as the auditor of one or more MFS investment companies since 1993.

Boston, Massachusetts

April 15, 2026

------

MFS Diversified Income Fund

Federal Tax Information (unaudited)

The fund will notify shareholders of amounts for use in preparing 2026 income tax forms in January 2027. The following information is provided pursuant to provisions of the Internal Revenue Code.

The fund designates the maximum amount allowable as qualified dividend income eligible to be taxed at the same rate as long-term capital gain.

For corporate shareholders, 5.02% of the ordinary income dividends paid during the prior calendar year qualify for the corporate dividends received deduction.

The fund designates the maximum amount allowable as Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).

The fund intends to pass through the maximum amount allowable as Section 163(j) Interest Dividends as defined in Treasury Regulation §1.163(j)-1(b).

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Diversified Income Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Diversified Income 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 Diversified Income 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.**

Not Applicable.

------

MFS Government Securities Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS Government Securities Fund

**Portfolio of Investments - 2/28/26** 

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 – 99.8% | Bonds – 99.8% | Bonds – 99.8% |
| Asset-Backed & Securitized – 7.4% | Asset-Backed & Securitized – 7.4% | Asset-Backed & Securitized – 7.4% |
| 3650R Commercial Mortgage Trust, 2021-PF1, "XA", 0.991%, 11/15/2054 (i) | $21399867 | &nbsp;&nbsp; $732646 |
| ACREC 2021-FL1 Ltd., "AS", FLR, 5.281% ((SOFR - 1mo. + 0.11448%) + 1.5%), 10/16/2036 (n) | 1977559 | &nbsp;&nbsp; 1978048 |
| AmeriCredit Automobile Receivables Trust, 2026-1, "A", 4.16%, 7/12/2029 (n) | 9100000 | &nbsp;&nbsp; 9100075 |
| AREIT 2022-CRE6 Trust, "AS", FLR, 5.31% (SOFR - 30 day + 1.65%), 1/20/2037 (n) | 7155500 | &nbsp;&nbsp; 7130270 |
| ARI Fleet Lease Trust, 2023-B, "A2", 6.05%, 7/15/2032 (n) | 473270 | &nbsp;&nbsp; 476354 |
| Babson CLO Ltd., 2021-3A, "B1R", FLR, 5.298% (SOFR - 3mo. + 1.63%), 1/18/2035 (n) | 5500000 | &nbsp;&nbsp; 5511962 |
| BBCMS Mortgage Trust, 2021-C10, "XA", 1.191%, 7/15/2054 (i) | 18985941 | &nbsp;&nbsp; 903302 |
| BBCMS Mortgage Trust, 2021-C9, "XA", 1.538%, 2/15/2054 (i) | 13123258 | &nbsp;&nbsp; 789944 |
| BBCMS Mortgage Trust, 2022-C18, "XA", 0.437%, 12/15/2055 (i) | 22353733 | &nbsp;&nbsp; 734012 |
| BDS 2024-FL13 Ltd., "A", FLR, 5.242% (SOFR - 1mo. + 1.5762%), 9/19/2039 (n) | 1558000 | &nbsp;&nbsp; 1561758 |
| Benchmark 2021-B23 Mortgage Trust, "XA", 1.254%, 2/15/2054 (i) | 43088380 | &nbsp;&nbsp; 1905704 |
| Benchmark 2021-B24 Mortgage Trust, "XA", 1.128%, 3/15/2054 (i) | 26036848 | &nbsp;&nbsp; 1020145 |
| Benchmark 2021-B26 Mortgage Trust, "XA", 0.843%, 6/15/2054 (i) | 36921690 | &nbsp;&nbsp; 1141438 |
| Benchmark 2021-B27 Mortgage Trust, "XA", 1.232%, 7/15/2054 (i) | 32591591 | &nbsp;&nbsp; 1480349 |
| Benchmark 2021-B28 Mortgage Trust, "XA", 1.237%, 8/15/2054 (i) | 38965459 | &nbsp;&nbsp; 1841745 |
| Benchmark 2021-B29 Mortgage Trust, "XA", 1.01%, 9/15/2054 (i) | 44636811 | &nbsp;&nbsp; 1495668 |
| Business Jet Securities LLC, 2024-1A, "A", 6.197%, 5/15/2039 (n) | 879255 | &nbsp;&nbsp; 909742 |
| BXMT 2021-FL4 Ltd., "AS", FLR, 5.078% ((SOFR - 1mo. + 0.11448%) + 1.3%), 5/15/2038 (n) | 7779500 | &nbsp;&nbsp; 7731777 |
| Chesapeake Funding II LLC, 2023-2A, "A2", FLR, 4.758% (SOFR - 30 day + 1.1%), 10/15/2035 (n) | 1192000 | &nbsp;&nbsp; 1196977 |
| Citigroup Commercial Mortgage Trust, 2019-XA, "C7", 0.815%, 12/15/2072 (i)(n) | 20841991 | &nbsp;&nbsp; 577448 |
| Commercial Mortgage Pass-Through Certificates, 2021-BN31, "XA", 1.278%, 2/15/2054 (i) | 32362903 | &nbsp;&nbsp; 1597598 |
| Commercial Mortgage Pass-Through Certificates, 2021-BN32, "XA", 0.757%, 4/15/2054 (i) | 18817966 | &nbsp;&nbsp; 521069 |
| Commercial Mortgage Pass-Through Certificates, 2021-BN35, "XA", 1.024%, 6/15/2064 (i) | 13117470 | &nbsp;&nbsp; 515012 |
| Commercial Mortgage Pass-Through Certificates, 2024-CBM, "A2", 5.867%, 12/10/2041 (n) | 1395974 | &nbsp;&nbsp; 1427905 |
| EQT Trust, 2024-EXTR, "B", 5.655%, 7/05/2041 (n) | 1503054 | &nbsp;&nbsp; 1537190 |
| GLS Auto Select Receivables Trust, 2026-1A, "A2", 4.04%, 11/15/2028 (n) | 3256000 | &nbsp;&nbsp; 3255900 |
| JP Morgan Trust, 2026-NQM1, "A1", 4.745%, 6/25/2066 (n) | 1631149 | &nbsp;&nbsp; 1636209 |
| KREF 2018-FT1 Ltd., "AS", FLR, 5.079% ((SOFR - 1mo. + 0.11448%) + 1.3%), 2/15/2039 (n) | 759000 | &nbsp;&nbsp; 758172 |
| LoanCore 2021-CRE5 Ltd., "AS", FLR, 5.524% ((SOFR - 1mo. + 0.11448%) + 1.75%), 7/15/2036 (n) | 1708168 | &nbsp;&nbsp; 1706032 |
| LoanCore 2021-CRE6 Ltd., "AS", FLR, 5.424% ((SOFR - 1mo. + 0.11448%) + 1.65%), 11/15/2038 (n) | 10000000 | &nbsp;&nbsp; 10005940 |
| MF1 2021-FL7 Ltd., "A", FLR, 4.861% ((SOFR - 1mo. + 0.11448%) + 1.08%), 10/16/2036 (n) | 1591657 | &nbsp;&nbsp; 1591305 |
| Morgan Stanley Capital I Trust, 2018-H4, "XA", 0.806%, 12/15/2051 (i) | 21691587 | &nbsp;&nbsp; 408537 |
| Morgan Stanley Capital I Trust, 2021-L5, "XA", 1.26%, 5/15/2054 (i) | 16391058 | &nbsp;&nbsp; 700880 |
| Morgan Stanley Capital I Trust, 2021-L6, "XA", 1.141%, 6/15/2054 (i) | 18418089 | &nbsp;&nbsp; 678718 |
| Morgan Stanley Capital I Trust, 2021-L7, "XA", 0.995%, 10/15/2054 (i) | 77547381 | &nbsp;&nbsp; 2866748 |
| Morgan Stanley Residential Mortgage Loan Trust, 2026-NQM1, "A1", 4.809%, 12/25/2070 (n) | 1838551 | &nbsp;&nbsp; 1840616 |
| Morgan Stanley Residential Mortgage Loan Trust, 2024-NQM3, "A1", 5.044%, 7/25/2069 (n) | 1402472 | &nbsp;&nbsp; 1404599 |
| Morgan Stanley Residential Mortgage Loan Trust, 2025-NQM3, "A1", 5.53%, 5/25/2070 (n) | 2334323 | &nbsp;&nbsp; 2356368 |
| Morgan Stanley Residential Mortgage Loan Trust, 2026-INV1, "A9", FLR, 4.807% (SOFR - 1mo. + 1.15%), 2/25/2061 (n) | 2744476 | &nbsp;&nbsp; 2745483 |
| New Residential Mortgage Loan Trust, 2026-NQM2, "A1", 4.743%, 12/25/2065 (n) | 5082505 | &nbsp;&nbsp; 5084503 |
| New Residential Mortgage Loan Trust, 2026-NQM3, "A1", 4.833%, 2/25/2066 (n) | 10076639 | &nbsp;&nbsp; 10084507 |
| OBX Trust, 2024-NQM1, "A2", 6.253%, 11/25/2063 (n) | 397642 | &nbsp;&nbsp; 400397 |
| OBX Trust, 2025-NQM8, "A1", 5.472%, 3/25/2065 (n) | 1927841 | &nbsp;&nbsp; 1948316 |
| Palmer Square Loan Funding 2024-3A Ltd., "A2R", FLR, 4.81% (SOFR - 3mo. + 1.15%), 8/08/2032 (n) | 1530612 | &nbsp;&nbsp; 1530897 |
| Palmer Square Loan Funding 2025-2A Ltd., "A2", FLR, 5.072% (SOFR - 3mo. + 1.4%), 7/15/2033 (n) | 8550000 | &nbsp;&nbsp; 8554702 |
| PFS Financing Corp., 2023-C, "B", 5.91%, 10/15/2028 (n) | 1302000 | &nbsp;&nbsp; 1313477 |
| PFS Financing Corp., 2025-A, "A", FLR, 4.308% (SOFR - 1mo. + 0.65%), 1/15/2029 (n) | 4611000 | &nbsp;&nbsp; 4616266 |
| PMT Loan Trust, 2025-INV10, "A36", FLR, 5.017% (SOFR - 1mo. + 1.35%), 10/01/2056 (n) | 2255961 | &nbsp;&nbsp; 2270223 |
| PMT Loan Trust, 2026-CNF1, "A26", FLR, 4.867% (SOFR - 1mo. + 1.2%), 1/25/2057 (n) | 1868094 | &nbsp;&nbsp; 1867974 |

---

MFGFS-ANN

------

MFS Government Securities Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Asset-Backed & Securitized – continued | Asset-Backed & Securitized – continued | Asset-Backed & Securitized – continued |
| PMT Loan Trust, 2026-INV2, "A35", FLR, 4.81% (SOFR - 1mo. + 1.15%), 1/25/2057 (n) | $10048706 | &nbsp;&nbsp; $10048507 |
| Provident Funding Mortgage Trust, 2024-1, "A3", 5.5%, 12/25/2054 (n) | 2287188 | &nbsp;&nbsp; 2311426 |
| RCKT Trust, 2025-1A,"A", 4.9%, 7/25/2034 (n) | 829050 | &nbsp;&nbsp; 831019 |
| Santander Drive Auto Receivables Trust, 2026-1, "A2", 4.04%, 3/15/2029  | 3323000 | &nbsp;&nbsp; 3324224 |
| Shackleton 2019-14A CLO Ltd., "BRR", FLR, 5.217% (SOFR - 3mo. + 1.55%), 7/20/2034 (n) | 6434263 | &nbsp;&nbsp; 6436386 |
| Verus Securitization Trust, 2024-1, "A2", 5.915%, 1/25/2069 (n) | 862247 | &nbsp;&nbsp; 866810 |
| Wells Fargo Commercial Mortgage Trust, 2018-C48, "XA", 0.928%, 1/15/2052 (i)(n) | 11862026 | &nbsp;&nbsp; 244788 |
| Wells Fargo Commercial Mortgage Trust, 2021-C60, "XA", 1.49%, 8/15/2054 (i) | 20094260 | &nbsp;&nbsp; 1177596 |
|  |  | &nbsp;&nbsp; $148685663 |
| Consumer Services – 0.1% | Consumer Services – 0.1% | Consumer Services – 0.1% |
| Conservation Fund, 3.474%, 12/15/2029  | $2018000 | &nbsp;&nbsp; $1952176 |
| Mortgage-Backed – 55.0% | Mortgage-Backed – 55.0% |  |
| Fannie Mae, 3%, 11/01/2028 - 9/01/2046  | $6964498 | &nbsp;&nbsp; $6687234 |
| Fannie Mae, 3.5%, 1/25/2030 - 12/01/2047  | 18732893 | &nbsp;&nbsp; 18085832 |
| Fannie Mae, 2.5%, 11/01/2031 - 10/01/2046  | 3798687 | &nbsp;&nbsp; 3605800 |
| Fannie Mae, 3.5%, 12/25/2031 - 2/25/2036 (i) | 681552 | &nbsp;&nbsp; 46521 |
| Fannie Mae, 6.5%, 1/01/2032 - 10/01/2037  | 360689 | &nbsp;&nbsp; 377678 |
| Fannie Mae, 6%, 1/01/2033 - 12/01/2037  | 1046093 | &nbsp;&nbsp; 1088842 |
| Fannie Mae, 3%, 2/25/2033 - 1/25/2052 (i) | 1261580 | &nbsp;&nbsp; 128342 |
| Fannie Mae, 5.5%, 5/01/2033 - 5/01/2044  | 5031106 | &nbsp;&nbsp; 5216102 |
| Fannie Mae, 5%, 11/01/2033 - 1/01/2056  | 15282382 | &nbsp;&nbsp; 15522661 |
| Fannie Mae, 4.5%, 3/01/2034 - 6/01/2044  | 13094100 | &nbsp;&nbsp; 13262959 |
| Fannie Mae, 4.232%, 4/25/2034 - 11/25/2046  | 5421284 | &nbsp;&nbsp; 5395478 |
| Fannie Mae, 4%, 9/01/2040 - 7/01/2047  | 26018315 | &nbsp;&nbsp; 25869486 |
| Fannie Mae, 1%, 3/25/2041  | 1318521 | &nbsp;&nbsp; 1187266 |
| Fannie Mae, 4.132%, 3/25/2041  | 274271 | &nbsp;&nbsp; 273633 |
| Fannie Mae, 2.25%, 4/25/2041  | 1099389 | &nbsp;&nbsp; 1066976 |
| Fannie Mae, 4.282%, 7/25/2041  | 236287 | &nbsp;&nbsp; 235677 |
| Fannie Mae, 1.75%, 9/25/2041  | 828638 | &nbsp;&nbsp; 802373 |
| Fannie Mae, 2.75%, 9/25/2042  | 772739 | &nbsp;&nbsp; 754972 |
| Fannie Mae, 0.000%, 10/25/2043  | 1947144 | &nbsp;&nbsp; 1501010 |
| Fannie Mae, 2%, 8/25/2044 - 4/25/2046  | 1716069 | &nbsp;&nbsp; 1621710 |
| Fannie Mae, 4.082%, 12/25/2045  | 512159 | &nbsp;&nbsp; 507203 |
| Fannie Mae, 2.218%, 9/25/2046 (i) | 1554934 | &nbsp;&nbsp; 188246 |
| Fannie Mae, 2%, 9/25/2050 (i) | 3373343 | &nbsp;&nbsp; 453801 |
| Fannie Mae, 4%, 9/25/2050 (i) | 2726868 | &nbsp;&nbsp; 521608 |
| Fannie Mae, 2.5%, 2/25/2051 (i) | 1800742 | &nbsp;&nbsp; 257221 |
| Fannie Mae, 5.117%, 11/25/2053  | 3684358 | &nbsp;&nbsp; 3746865 |
| Fannie Mae, 5.667%, 11/25/2053  | 8274395 | &nbsp;&nbsp; 8458182 |
| Fannie Mae, 4.567%, 12/25/2053  | 1730829 | &nbsp;&nbsp; 1740321 |
| Fannie Mae, 6.667%, 7/25/2054  | 2752331 | &nbsp;&nbsp; 2850386 |
| Fannie Mae, 4.817%, 10/25/2054  | 2992086 | &nbsp;&nbsp; 3015134 |
| Fannie Mae, 4.617%, 11/25/2054  | 6738231 | &nbsp;&nbsp; 6765531 |
| Fannie Mae, 4.667%, 12/25/2054  | 8876864 | &nbsp;&nbsp; 8931359 |
| Fannie Mae, 5.067%, 12/25/2054  | 6923560 | &nbsp;&nbsp; 7002076 |
| Fannie Mae, 6.107%, 3/25/2055  | 3878439 | &nbsp;&nbsp; 3932245 |
| Fannie Mae, TBA, 4.5%, 3/12/2056  | 3800000 | &nbsp;&nbsp; 3757631 |
| Fannie Mae, UMBS, 2.5%, 5/01/2036 - 8/01/2052  | 95358309 | &nbsp;&nbsp; 83869896 |
| Fannie Mae, UMBS, 5.5%, 10/01/2038 - 5/01/2055  | 27306871 | &nbsp;&nbsp; 27813977 |
| Fannie Mae, UMBS, 1.5%, 2/01/2042 - 3/01/2051  | 1327412 | &nbsp;&nbsp; 1083953 |
| Fannie Mae, UMBS, 2%, 2/01/2042 - 3/01/2052  | 44582827 | &nbsp;&nbsp; 37479261 |
| Fannie Mae, UMBS, 3.5%, 5/01/2049 - 2/01/2052  | 1691294 | &nbsp;&nbsp; 1614279 |

---

------

MFS Government Securities Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Mortgage-Backed – continued | Mortgage-Backed – continued |  |
| Fannie Mae, UMBS, 3%, 6/01/2051 - 8/01/2052  | $19964204 | &nbsp;&nbsp; $18205193 |
| Fannie Mae, UMBS, 4%, 8/01/2051 - 2/01/2053  | 5168504 | &nbsp;&nbsp; 5084688 |
| Fannie Mae, UMBS, 4.5%, 9/01/2052 - 10/01/2055  | 3370990 | &nbsp;&nbsp; 3346725 |
| Fannie Mae, UMBS, 5%, 9/01/2052 - 11/01/2054  | 903747 | &nbsp;&nbsp; 909784 |
| Fannie Mae, UMBS, 6%, 2/01/2053 - 9/01/2055  | 16524557 | &nbsp;&nbsp; 17015079 |
| Freddie Mac, 2.57%, 7/25/2026  | 25547673 | &nbsp;&nbsp; 25399154 |
| Freddie Mac, 3.12%, 9/25/2026  | 11939904 | &nbsp;&nbsp; 11875705 |
| Freddie Mac, 2.525%, 10/25/2026  | 10822583 | &nbsp;&nbsp; 10734454 |
| Freddie Mac, 2.797%, 12/25/2026  | 551330 | &nbsp;&nbsp; 549868 |
| Freddie Mac, 3.413%, 12/25/2026  | 16544162 | &nbsp;&nbsp; 16470120 |
| Freddie Mac, 1.373%, 3/25/2027 (i) | 5583000 | &nbsp;&nbsp; 69863 |
| Freddie Mac, 3.243%, 4/25/2027  | 10090226 | &nbsp;&nbsp; 10027345 |
| Freddie Mac, 3.117%, 6/25/2027  | 20616052 | &nbsp;&nbsp; 20454857 |
| Freddie Mac, 0.561%, 7/25/2027 (i) | 98594730 | &nbsp;&nbsp; 606200 |
| Freddie Mac, 0.403%, 8/25/2027 (i) | 76199372 | &nbsp;&nbsp; 416963 |
| Freddie Mac, 1.47%, 9/25/2027  | 4600000 | &nbsp;&nbsp; 4449444 |
| Freddie Mac, 3.286%, 11/25/2027  | 6876682 | &nbsp;&nbsp; 6822801 |
| Freddie Mac, 0.357%, 12/25/2027 (i) | 1302330 | &nbsp;&nbsp; 7872 |
| Freddie Mac, 1.603%, 12/25/2027  | 8214550 | &nbsp;&nbsp; 7930856 |
| Freddie Mac, 0.294%, 1/25/2028 (i) | 135662221 | &nbsp;&nbsp; 703436 |
| Freddie Mac, 0.3%, 1/25/2028 (i) | 56814646 | &nbsp;&nbsp; 296732 |
| Freddie Mac, 0.128%, 2/25/2028 (i) | 164479153 | &nbsp;&nbsp; 449554 |
| Freddie Mac, 0.107%, 4/25/2028 (i) | 106766413 | &nbsp;&nbsp; 297793 |
| Freddie Mac, 3.9%, 4/25/2028  | 1867674 | &nbsp;&nbsp; 1874620 |
| Freddie Mac, 0.424%, 10/25/2028 (i) | 39439035 | &nbsp;&nbsp; 434401 |
| Freddie Mac, 0.415%, 5/25/2029 (i) | 56070175 | &nbsp;&nbsp; 728436 |
| Freddie Mac, 1.005%, 7/25/2029 (i) | 31354116 | &nbsp;&nbsp; 822014 |
| Freddie Mac, 1.081%, 7/25/2029 (i) | 18663992 | &nbsp;&nbsp; 603993 |
| Freddie Mac, 1.135%, 8/25/2029 (i) | 32824818 | &nbsp;&nbsp; 1146591 |
| Freddie Mac, 0.558%, 1/25/2030 (i) | 19128835 | &nbsp;&nbsp; 396634 |
| Freddie Mac, 1.314%, 1/25/2030 (i) | 26162488 | &nbsp;&nbsp; 1196403 |
| Freddie Mac, 1.583%, 1/25/2030 (i) | 19172930 | &nbsp;&nbsp; 1014802 |
| Freddie Mac, 1.796%, 4/25/2030 (i) | 14430646 | &nbsp;&nbsp; 951555 |
| Freddie Mac, 1.839%, 4/25/2030 (i) | 20077463 | &nbsp;&nbsp; 1378175 |
| Freddie Mac, 0.399%, 5/25/2030 (i) | 25631475 | &nbsp;&nbsp; 423176 |
| Freddie Mac, 1.666%, 5/25/2030 (i) | 12033779 | &nbsp;&nbsp; 765198 |
| Freddie Mac, 1.798%, 5/25/2030 (i) | 26880424 | &nbsp;&nbsp; 1856964 |
| Freddie Mac, 4.361%, 5/25/2030  | 3877551 | &nbsp;&nbsp; 3961185 |
| Freddie Mac, 5.5%, 6/01/2030 - 9/01/2041  | 2167649 | &nbsp;&nbsp; 2257275 |
| Freddie Mac, 1.109%, 6/25/2030 (i) | 19767777 | &nbsp;&nbsp; 804936 |
| Freddie Mac, 1.34%, 6/25/2030 (i) | 11124134 | &nbsp;&nbsp; 576298 |
| Freddie Mac, 1.369%, 6/25/2030 (i) | 29117530 | &nbsp;&nbsp; 1416836 |
| Freddie Mac, 1.597%, 8/25/2030 (i) | 10235210 | &nbsp;&nbsp; 648107 |
| Freddie Mac, 1.168%, 9/25/2030 (i) | 6568138 | &nbsp;&nbsp; 314151 |
| Freddie Mac, 1.079%, 11/25/2030 (i) | 13158725 | &nbsp;&nbsp; 603572 |
| Freddie Mac, 0.319%, 1/25/2031 (i) | 49632310 | &nbsp;&nbsp; 603886 |
| Freddie Mac, 0.536%, 1/25/2031 (i) | 70182335 | &nbsp;&nbsp; 1723117 |
| Freddie Mac, 0.779%, 1/25/2031 (i) | 19512958 | &nbsp;&nbsp; 697910 |
| Freddie Mac, 0.935%, 1/25/2031 (i) | 14681587 | &nbsp;&nbsp; 597176 |
| Freddie Mac, 0.355%, 2/25/2031 (i) | 18431877 | &nbsp;&nbsp; 366326 |
| Freddie Mac, 0.509%, 3/25/2031 (i) | 39914940 | &nbsp;&nbsp; 841834 |
| Freddie Mac, 0.731%, 3/25/2031 (i) | 17260719 | &nbsp;&nbsp; 583003 |
| Freddie Mac, 1.213%, 5/25/2031 (i) | 7120528 | &nbsp;&nbsp; 394509 |
| Freddie Mac, 0.937%, 7/25/2031 (i) | 11674001 | &nbsp;&nbsp; 537031 |

---

------

MFS Government Securities Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Mortgage-Backed – continued | Mortgage-Backed – continued |  |
| Freddie Mac, 1.214%, 7/25/2031 (i) | $22560568 | &nbsp;&nbsp; $1327195 |
| Freddie Mac, 0.505%, 8/25/2031 (i) | 14842988 | &nbsp;&nbsp; 353599 |
| Freddie Mac, 0.535%, 9/25/2031 (i) | 50814178 | &nbsp;&nbsp; 1358415 |
| Freddie Mac, 0.854%, 9/25/2031 (i) | 48419608 | &nbsp;&nbsp; 1993784 |
| Freddie Mac, 0.348%, 11/25/2031 (i) | 73361326 | &nbsp;&nbsp; 1331963 |
| Freddie Mac, 0.495%, 12/25/2031 (i) | 73957916 | &nbsp;&nbsp; 1844089 |
| Freddie Mac, 0.567%, 12/25/2031 (i) | 12187459 | &nbsp;&nbsp; 338944 |
| Freddie Mac, 0.765%, 2/25/2032 (i) | 49680895 | &nbsp;&nbsp; 2011137 |
| Freddie Mac, 0.321%, 6/25/2032 (i) | 116203070 | &nbsp;&nbsp; 2232110 |
| Freddie Mac, 4.223%, 11/15/2032  | 33853 | &nbsp;&nbsp; 33846 |
| Freddie Mac, 0.154%, 11/25/2032 (i) | 74026378 | &nbsp;&nbsp; 913012 |
| Freddie Mac, 0.265%, 5/25/2033 (i) | 64115960 | &nbsp;&nbsp; 1307613 |
| Freddie Mac, 3.5%, 8/15/2033 - 10/25/2058  | 21265532 | &nbsp;&nbsp; 20706604 |
| Freddie Mac, 0.129%, 8/25/2033 (i) | 78666400 | &nbsp;&nbsp; 944752 |
| Freddie Mac, 0.176%, 10/25/2033 (i) | 75772703 | &nbsp;&nbsp; 1215508 |
| Freddie Mac, 5%, 5/01/2034 - 12/01/2044  | 6005873 | &nbsp;&nbsp; 6180046 |
| Freddie Mac, 6%, 8/01/2034 - 2/01/2055  | 14334515 | &nbsp;&nbsp; 14763784 |
| Freddie Mac, 0.905%, 9/25/2034 (i) | 9883118 | &nbsp;&nbsp; 671743 |
| Freddie Mac, 0.055%, 1/25/2035 (i) | 119066272 | &nbsp;&nbsp; 1079395 |
| Freddie Mac, 0.246%, 1/25/2035 (i) | 47468092 | &nbsp;&nbsp; 1075717 |
| Freddie Mac, 0.045%, 12/25/2035 (i) | 114495340 | &nbsp;&nbsp; 1049075 |
| Freddie Mac, 5.5%, 2/15/2036 (i) | 225843 | &nbsp;&nbsp; 33938 |
| Freddie Mac, 6.5%, 5/01/2037  | 74183 | &nbsp;&nbsp; 77654 |
| Freddie Mac, 4%, 8/01/2037 - 4/01/2044  | 2920623 | &nbsp;&nbsp; 2912378 |
| Freddie Mac, 3%, 1/01/2038 - 2/25/2059  | 12393429 | &nbsp;&nbsp; 11643924 |
| Freddie Mac, 4.5%, 7/01/2039 - 7/01/2055  | 2645846 | &nbsp;&nbsp; 2667651 |
| Freddie Mac, 4.5%, 12/15/2040 (i) | 31778 | &nbsp;&nbsp; 2957 |
| Freddie Mac, 1.75%, 8/15/2041  | 632309 | &nbsp;&nbsp; 606005 |
| Freddie Mac, 4.173%, 11/15/2043 - 8/15/2046  | 1522365 | &nbsp;&nbsp; 1513518 |
| Freddie Mac, 2.5%, 11/25/2050 - 3/25/2051 (i) | 11013556 | &nbsp;&nbsp; 1791569 |
| Freddie Mac, 3%, 10/25/2052 (i) | 1884354 | &nbsp;&nbsp; 302612 |
| Freddie Mac, 5.117%, 10/25/2053  | 463251 | &nbsp;&nbsp; 471110 |
| Freddie Mac, 5.897%, 12/25/2053  | 3486474 | &nbsp;&nbsp; 3502025 |
| Freddie Mac, 4.767%, 1/25/2054 - 9/25/2054  | 10084143 | &nbsp;&nbsp; 10160779 |
| Freddie Mac, 4.967%, 1/25/2054 - 12/25/2054  | 10630259 | &nbsp;&nbsp; 10745762 |
| Freddie Mac, 5.167%, 12/25/2054  | 13109710 | &nbsp;&nbsp; 13288655 |
| Freddie Mac, 6.117%, 1/25/2055  | 2198824 | &nbsp;&nbsp; 2221331 |
| Freddie Mac, 7.617%, 9/25/2055  | 842473 | &nbsp;&nbsp; 879428 |
| Freddie Mac, 2.327%, 8/15/2057 (i) | 2888304 | &nbsp;&nbsp; 422440 |
| Freddie Mac, 0.224%, 3/25/2061 (i) | 64696386 | &nbsp;&nbsp; 777398 |
| Freddie Mac, 3.25%, 11/25/2061  | 4020563 | &nbsp;&nbsp; 3803642 |
| Freddie Mac, UMBS, 2.5%, 3/01/2037 - 9/01/2052  | 22485353 | &nbsp;&nbsp; 19668020 |
| Freddie Mac, UMBS, 2%, 2/01/2042 - 3/01/2052  | 16582156 | &nbsp;&nbsp; 14061403 |
| Freddie Mac, UMBS, 3.5%, 12/01/2046 - 5/01/2052  | 2245353 | &nbsp;&nbsp; 2148528 |
| Freddie Mac, UMBS, 3%, 2/01/2050 - 8/01/2052  | 27354010 | &nbsp;&nbsp; 24846908 |
| Freddie Mac, UMBS, 1.5%, 4/01/2051 - 11/01/2051  | 5585462 | &nbsp;&nbsp; 4442344 |
| Freddie Mac, UMBS, 4%, 5/01/2052  | 3680471 | &nbsp;&nbsp; 3602913 |
| Freddie Mac, UMBS, 5%, 11/01/2052 - 9/01/2055  | 15079088 | &nbsp;&nbsp; 15177571 |
| Freddie Mac, UMBS, 5.5%, 12/01/2052 - 7/01/2055  | 16213884 | &nbsp;&nbsp; 16527314 |
| Freddie Mac, UMBS, 6%, 2/01/2053 - 4/01/2055  | 12020479 | &nbsp;&nbsp; 12401170 |
| Freddie Mac, UMBS, 6.5%, 4/01/2054 - 11/01/2054  | 3640733 | &nbsp;&nbsp; 3827243 |
| Freddie Mac, UMBS, 4.5%, 11/01/2054 - 8/01/2055  | 602528 | &nbsp;&nbsp; 596564 |
| Ginnie Mae, 3.5%, 8/20/2029 - 1/20/2043 (i) | 4908739 | &nbsp;&nbsp; 542876 |
| Ginnie Mae, 5.5%, 3/15/2033 - 10/20/2053  | 2347566 | &nbsp;&nbsp; 2399848 |

---

------

MFS Government Securities Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Mortgage-Backed – continued | Mortgage-Backed – continued |  |
| Ginnie Mae, 4.5%, 7/20/2033 - 10/20/2052  | $23577715 | &nbsp;&nbsp; $23552131 |
| Ginnie Mae, 5.649%, 8/20/2034  | 578357 | &nbsp;&nbsp; 593049 |
| Ginnie Mae, 4%, 5/16/2039 - 9/20/2055  | 11414427 | &nbsp;&nbsp; 11045962 |
| Ginnie Mae, 5%, 8/20/2039 - 4/20/2053  | 5239523 | &nbsp;&nbsp; 5317068 |
| Ginnie Mae, 4%, 12/20/2039 - 9/20/2047 (i) | 1484587 | &nbsp;&nbsp; 235025 |
| Ginnie Mae, 1.618%, 5/20/2041 (i) | 2541500 | &nbsp;&nbsp; 255077 |
| Ginnie Mae, 3.882%, 9/20/2041  | 6442429 | &nbsp;&nbsp; 6341704 |
| Ginnie Mae, 2.376%, 11/16/2041 (i) | 1735805 | &nbsp;&nbsp; 71530 |
| Ginnie Mae, 3.5%, 12/15/2041 - 7/20/2043  | 5685132 | &nbsp;&nbsp; 5499308 |
| Ginnie Mae, 2.5%, 6/20/2042 - 1/20/2066  | 21191036 | &nbsp;&nbsp; 18723228 |
| Ginnie Mae, 3%, 2/20/2043 - 10/20/2052  | 25341833 | &nbsp;&nbsp; 23370819 |
| Ginnie Mae, 2.368%, 4/20/2047 (i) | 445262 | &nbsp;&nbsp; 58928 |
| Ginnie Mae, 2%, 11/20/2050 (i) | 177019 | &nbsp;&nbsp; 20013 |
| Ginnie Mae, 2.5%, 2/20/2051 (i) | 2160878 | &nbsp;&nbsp; 298853 |
| Ginnie Mae, 2%, 1/20/2052 - 11/20/2052  | 32969045 | &nbsp;&nbsp; 27936218 |
| Ginnie Mae, 5.062%, 9/20/2053  | 10537616 | &nbsp;&nbsp; 10750627 |
| Ginnie Mae, 4.961%, 10/20/2053  | 10340347 | &nbsp;&nbsp; 10461239 |
| Ginnie Mae, 5.012%, 10/20/2053  | 10229415 | &nbsp;&nbsp; 10361255 |
| Ginnie Mae, 4.762%, 11/20/2053 - 2/20/2054  | 18194302 | &nbsp;&nbsp; 18357590 |
| Ginnie Mae, 4.862%, 12/20/2053  | 10439403 | &nbsp;&nbsp; 10539188 |
| Ginnie Mae, 4.711%, 2/20/2054  | 10360734 | &nbsp;&nbsp; 10434106 |
| Ginnie Mae, 4.612%, 3/20/2054  | 9344078 | &nbsp;&nbsp; 9418293 |
| Ginnie Mae, 4.712%, 10/20/2054  | 3548654 | &nbsp;&nbsp; 3567524 |
| Ginnie Mae, 4.912%, 4/20/2055  | 3330035 | &nbsp;&nbsp; 3373102 |
| Ginnie Mae, 7.612%, 5/20/2055  | 2365994 | &nbsp;&nbsp; 2427695 |
| Ginnie Mae, 6.083%, 6/20/2055  | 3928285 | &nbsp;&nbsp; 4032365 |
| Ginnie Mae, 6.157%, 6/20/2055  | 2574402 | &nbsp;&nbsp; 2585052 |
| Ginnie Mae, 1.688%, 7/20/2055 (i) | 3803567 | &nbsp;&nbsp; 193303 |
| Ginnie Mae, 6%, 11/20/2055  | 2515931 | &nbsp;&nbsp; 2601815 |
| Ginnie Mae, 4.197%, 12/20/2060  | 8385 | &nbsp;&nbsp; 8376 |
| Ginnie Mae, 4.277%, 3/20/2061 - 10/20/2064  | 206027 | &nbsp;&nbsp; 206008 |
| Ginnie Mae, 4.297%, 3/20/2061 - 3/20/2070  | 5390453 | &nbsp;&nbsp; 5390451 |
| Ginnie Mae, 2.115%, 12/20/2062 (i) | 3651587 | &nbsp;&nbsp; 175678 |
| Ginnie Mae, 4.247%, 4/20/2063 - 11/20/2067  | 1232995 | &nbsp;&nbsp; 1232265 |
| Ginnie Mae, 4.811%, 3/20/2064  | 970757 | &nbsp;&nbsp; 977486 |
| Ginnie Mae, 4.476%, 7/20/2064  | 472933 | &nbsp;&nbsp; 473889 |
| Ginnie Mae, 4.662%, 12/20/2064  | 8356650 | &nbsp;&nbsp; 8395838 |
| Ginnie Mae, 4.397%, 3/20/2065  | 29286 | &nbsp;&nbsp; 29315 |
| Ginnie Mae, 4.462%, 8/20/2065 - 1/20/2066  | 14640968 | &nbsp;&nbsp; 14669848 |
| Ginnie Mae, 4.847%, 2/20/2066  | 107333 | &nbsp;&nbsp; 107970 |
| Ginnie Mae, 2.177%, 3/20/2066 (i) | 1547204 | &nbsp;&nbsp; 40419 |
| Ginnie Mae, 4.547%, 10/20/2066  | 746909 | &nbsp;&nbsp; 749149 |
| Ginnie Mae, 4.567%, 10/20/2066  | 2030707 | &nbsp;&nbsp; 2037404 |
| Ginnie Mae, 4.541%, 1/20/2067  | 1859107 | &nbsp;&nbsp; 1876605 |
| Ginnie Mae, 4.391%, 2/20/2067  | 1346107 | &nbsp;&nbsp; 1356913 |
| Ginnie Mae, 5.173%, 3/20/2067  | 3107240 | &nbsp;&nbsp; 3134331 |
| Ginnie Mae, 4.112%, 5/20/2067  | 9648527 | &nbsp;&nbsp; 9642945 |
| Ginnie Mae, 5.281%, 7/20/2067  | 3904954 | &nbsp;&nbsp; 3952451 |
| Ginnie Mae, 4.992%, 4/20/2068  | 6425402 | &nbsp;&nbsp; 6474415 |
| Ginnie Mae, 4.062%, 12/20/2071  | 2199231 | &nbsp;&nbsp; 2192229 |
| Ginnie Mae, 4.566%, 12/20/2071  | 681174 | &nbsp;&nbsp; 679376 |
| Ginnie Mae, 4.312%, 8/20/2074  | 4448518 | &nbsp;&nbsp; 4457118 |
| Ginnie Mae, 3.662%, 11/20/2074  | 2693221 | &nbsp;&nbsp; 2672705 |
| Ginnie Mae, TBA, 5%, 3/15/2056  | 7275000 | &nbsp;&nbsp; 7299683 |

---

------

MFS Government Securities Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Mortgage-Backed – continued | Mortgage-Backed – continued |  |
| UMBS, TBA, 2%, 3/12/2056 - 4/25/2056  | $60175000 | &nbsp;&nbsp; $49845178 |
| UMBS, TBA, 3.5%, 3/12/2056  | 8800000 | &nbsp;&nbsp; 8292068 |
| UMBS, TBA, 3%, 3/25/2056  | 4575000 | &nbsp;&nbsp; 4136660 |
|  |  | &nbsp;&nbsp; $1113092976 |
| U.S. Government Agencies and Equivalents – 0.1% | U.S. Government Agencies and Equivalents – 0.1% | U.S. Government Agencies and Equivalents – 0.1% |
| Small Business Administration, 2.21%, 2/01/2033  | $366780 | &nbsp;&nbsp; $347661 |
| Small Business Administration, 2.22%, 3/01/2033  | 683371 | &nbsp;&nbsp; 649527 |
| Small Business Administration, 3.15%, 7/01/2033  | 576917 | &nbsp;&nbsp; 560896 |
| Small Business Administration, 3.16%, 8/01/2033  | 231375 | &nbsp;&nbsp; 224842 |
| Small Business Administration, 3.62%, 9/01/2033  | 215573 | &nbsp;&nbsp; 213774 |
|  |  | &nbsp;&nbsp; $1996700 |
| U.S. Treasury Obligations – 37.2% | U.S. Treasury Obligations – 37.2% | U.S. Treasury Obligations – 37.2% |
| U.S. Treasury Bonds, 6.375%, 8/15/2027  | $2309000 | &nbsp;&nbsp; $2404878 |
| U.S. Treasury Bonds, 4.375%, 2/15/2038  | 2078000 | &nbsp;&nbsp; 2141882 |
| U.S. Treasury Bonds, 3.125%, 2/15/2043  | 9748800 | &nbsp;&nbsp; 8142533 |
| U.S. Treasury Bonds, 2.875%, 5/15/2043  | 27528200 | &nbsp;&nbsp; 22075251 |
| U.S. Treasury Bonds, 4.75%, 11/15/2043  | 11168000 | &nbsp;&nbsp; 11495187 |
| U.S. Treasury Bonds, 2.5%, 2/15/2045  | 97983000 | &nbsp;&nbsp; 71917991 |
| U.S. Treasury Bonds, 4.75%, 2/15/2045  | 36531000 | &nbsp;&nbsp; 37444275 |
| U.S. Treasury Bonds, 5%, 5/15/2045  | 4336000 | &nbsp;&nbsp; 4583626 |
| U.S. Treasury Bonds, 4.625%, 5/15/2054  | 11176000 | &nbsp;&nbsp; 11140202 |
| U.S. Treasury Bonds, 4.625%, 2/15/2055  | 11722000 | &nbsp;&nbsp; 11690405 |
| U.S. Treasury Bonds, 4.75%, 8/15/2055  | 6088000 | &nbsp;&nbsp; 6199296 |
| U.S. Treasury Notes, 3.5%, 9/30/2027 (f) | 89799200 | &nbsp;&nbsp; 89897418 |
| U.S. Treasury Notes, 3.5%, 10/31/2027  | 78357000 | &nbsp;&nbsp; 78445764 |
| U.S. Treasury Notes, 3.375%, 11/30/2027  | 21069000 | &nbsp;&nbsp; 21055832 |
| U.S. Treasury Notes, 3.375%, 12/31/2027  | 7056000 | &nbsp;&nbsp; 7052141 |
| U.S. Treasury Notes, 2.75%, 2/15/2028  | 54157000 | &nbsp;&nbsp; 53509655 |
| U.S. Treasury Notes, 3.625%, 3/31/2028 (f) | 86350000 | &nbsp;&nbsp; 86751393 |
| U.S. Treasury Notes, 1%, 7/31/2028  | 32248000 | &nbsp;&nbsp; 30483178 |
| U.S. Treasury Notes, 2.375%, 5/15/2029  | 19515500 | &nbsp;&nbsp; 18907928 |
| U.S. Treasury Notes, 3.625%, 8/31/2029  | 27900000 | &nbsp;&nbsp; 28074375 |
| U.S. Treasury Notes, 4.375%, 12/31/2029  | 7900000 | &nbsp;&nbsp; 8158910 |
| U.S. Treasury Notes, 3.5%, 4/30/2030  | 18675000 | &nbsp;&nbsp; 18691049 |
| U.S. Treasury Notes, 4.125%, 8/31/2030  | 37647000 | &nbsp;&nbsp; 38610234 |
| U.S. Treasury Notes, 1.625%, 5/15/2031  | 41833000 | &nbsp;&nbsp; 38019007 |
| U.S. Treasury Notes, 1.375%, 11/15/2031  | 11425300 | &nbsp;&nbsp; 10114961 |
| U.S. Treasury Notes, 4.25%, 8/15/2035  | 34163000 | &nbsp;&nbsp; 35011737 |
|  |  | &nbsp;&nbsp; $752019108 |
| **Total Bonds (Identified Cost, $2,068,184,394)** |  | &nbsp;&nbsp; **$2017746623** |
| Mutual Funds (h) – 3.3% | Mutual Funds (h) – 3.3% | Mutual Funds (h) – 3.3% |
| Money Market Funds – 3.3% | Money Market Funds – 3.3% |  |
| MFS Institutional Money Market Portfolio, 3.7% (v) (Identified Cost, $66,346,861) | 66344771 | &nbsp;&nbsp; $66351406 |

---

------

MFS Government Securities Fund

*Portfolio of Investments – continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Underlying/Expiration Date/Exercise Price (Rate)** | **Put/Call** | **Counterparty** | **Notional** <br>**Amount**<br>| &nbsp;&nbsp; **Par Amount/** <br>**Number of** <br>**Contracts**<br>| **Value ($)** |
| Purchased Options – 0.0% | Purchased Options – 0.0% | Purchased Options – 0.0% | Purchased Options – 0.0% | Purchased Options – 0.0% |  |
| OTC Swaptions – 0.0% | OTC Swaptions – 0.0% | OTC Swaptions – 0.0% | OTC Swaptions – 0.0% | OTC Swaptions – 0.0% |  |
| 1 Year Interest Rate Swap with Fund to pay 3.085% annually and <br> receive 1-day SOFR annually – 8/30/2027 @ 3.085%<br>| Put | Merrill Lynch International | &nbsp;&nbsp; $49600000 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; $177087 |
| 1 Year Interest Rate Swap with Fund to receive 3.085% annually <br> and pay 1-day SOFR annually – 8/30/2027 @ 3.085%<br>| Call | Merrill Lynch International | &nbsp;&nbsp; 49600000 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; 208997 |
| **Total Purchased Options** <br>**(Premiums Paid, $465,000)** | **Total Purchased Options** <br>**(Premiums Paid, $465,000)** | **Total Purchased Options** <br>**(Premiums Paid, $465,000)** | **Total Purchased Options** <br>**(Premiums Paid, $465,000)** |  | &nbsp;&nbsp; **$386084** |
| Other Assets, Less Liabilities – (3.1)% | Other Assets, Less Liabilities – (3.1)% | Other Assets, Less Liabilities – (3.1)% | Other Assets, Less Liabilities – (3.1)% | Other Assets, Less Liabilities – (3.1)% | &nbsp;&nbsp; (62502687**)**<br>|
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$2021981426** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(f) All or a portion of the security has been segregated as collateral for open futures
 contracts and cleared swap agreements.

&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 $66,351,406 and $2,018,132,707, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Interest only security for which the fund receives interest on notional principal
 (Par amount). Par amount shown is the notional principal and does not reflect the cost of the security.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933.
 These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers.
 At period end, the aggregate value of these securities was $124,850,328, representing 6.2% of net assets.

&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: | The following abbreviations are used in this report and are defined: |
| CLO | Collateralized Loan Obligation |
| FLR | Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate <br> reported may not be the current rate. All reference rates are USD unless otherwise noted.<br>|
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced |
| UMBS | Uniform Mortgage-Backed Security |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivative Contracts at 2/28/26** | **Derivative Contracts at 2/28/26** | **Derivative Contracts at 2/28/26** | **Derivative Contracts at 2/28/26** | **Derivative Contracts at 2/28/26** | **Derivative Contracts at 2/28/26** | **Derivative Contracts at 2/28/26** |
| **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>|
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |
| ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** |  |  |
| U.S. Treasury Note 10 yr | &nbsp;&nbsp;&nbsp; Long | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1512 | &nbsp;&nbsp;&nbsp; $172084500 | June – 2026 | &nbsp;&nbsp;&nbsp; $1519953 |
| U.S. Treasury Note 2 yr | &nbsp;&nbsp;&nbsp; Long | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 3900 | &nbsp;&nbsp;&nbsp; 816166408 | June – 2026 | &nbsp;&nbsp;&nbsp; 961030 |
| U.S. Treasury Note 5 yr | &nbsp;&nbsp;&nbsp; Long | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 3109 | &nbsp;&nbsp;&nbsp; 342427203 | June – 2026 | &nbsp;&nbsp;&nbsp; 1932073 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; $4413056 |
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** |  |  |
| U.S. Treasury Ultra Bond 30 yr | &nbsp;&nbsp;&nbsp; Short | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp; $2675062 | June – 2026 | &nbsp;&nbsp;&nbsp; $(38241)<br>|
| U.S. Treasury Ultra Note 10 yr | &nbsp;&nbsp;&nbsp; Short | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp; 2217953 | June – 2026 | &nbsp;&nbsp;&nbsp; (23377)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; $(61618)<br>|

---

------

MFS Government Securities Fund

*Portfolio of Investments – continued*

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** | **Cleared Swap Agreements** |
| **Maturity** <br>**Date** | **Maturity** <br>**Date** | **Notional** <br>**Amount**<br>| **Counterparty** | **Cash Flows** <br>**to Receive/** <br>**Frequency**<br>| **Cash Flows** <br>**to Pay/** <br>**Frequency**<br>| **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Net** <br>**Unamortized** <br>**Upfront** <br>**Payments** <br>**(Receipts)**<br>| **Value** |
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |  |  |  |
| ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** |  |  |  |
| 11/26/27 | USD | 100742000 | centrally cleared | 1-day SOFR / Annually | 3.2845% / Annually | $51641 | $— | $51641 |
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |  |  |  |
| ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** | ***Interest Rate Swaps*** |  |  |  |
| 11/03/27 | USD | 100992000 | centrally cleared | 1-day SOFR / Annually | 3.389% / Annually | $(79872)<br>| $— | $(79872)<br>|
| 11/05/27 | USD | 100309000 | centrally cleared | 1-day SOFR / Annually | 3.387% / Annually | (70305)<br>|  | (70305)<br>|
| 1/09/29 | USD | 100500000 | centrally cleared | 1-day SOFR / Annually | 3.35% / Annually | (454761)<br>|  | (454761)<br>|
| 1/14/31 | USD | 60400000 | centrally cleared | 1-day SOFR / Annually | 3.5105% / Annually | (741185)<br>|  | (741185)<br>|
|  |  |  |  |  |  | $(1346123)<br>| $— | $(1346123)<br>|

---

At February 28, 2026, the fund had liquid securities collateral with an aggregate value of $19,970,603 to cover any collateral or margin obligations for certain derivative contracts.

**See Notes to Financial Statements**

------

MFS Government Securities 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 2/28/26** <br> **Assets**<br>|  |
| Investments in unaffiliated issuers, at value (identified cost, $2,068,649,394) | &nbsp;&nbsp; $2018132707 |
| Investments in affiliated issuers, at value (identified cost, $66,346,861) | &nbsp;&nbsp; 66351406 |
| Receivables for |  |
| Net daily variation margin on open futures contracts | &nbsp;&nbsp; 2751976 |
| TBA sale commitments | &nbsp;&nbsp; 49601103 |
| Fund shares sold | &nbsp;&nbsp; 7654274 |
| Interest | &nbsp;&nbsp; 11111865 |
| Other assets | &nbsp;&nbsp; 4226 |
| Total assets | &nbsp;&nbsp; $2155607557 |
| **Liabilities** |  |
| Payable to custodian | &nbsp;&nbsp; $9320 |
| Payables for |  |
| Distributions | &nbsp;&nbsp; 199522 |
| Net daily variation margin on open cleared swap agreements | &nbsp;&nbsp; 723320 |
| TBA purchase commitments | &nbsp;&nbsp; 121709482 |
| Fund shares reacquired | &nbsp;&nbsp; 10582296 |
| Payable to affiliates |  |
| Investment adviser | &nbsp;&nbsp; 59933 |
| Administrative services fee | &nbsp;&nbsp; 2323 |
| Shareholder servicing costs | &nbsp;&nbsp; 178949 |
| Distribution and service fees | &nbsp;&nbsp; 8710 |
| Payable for independent Trustees' compensation | &nbsp;&nbsp; 14 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 152262 |
| Total liabilities | &nbsp;&nbsp; $133626131 |
| Net assets | &nbsp;&nbsp; $2021981426 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $2379110598 |
| Total distributable earnings (loss) | &nbsp;&nbsp; (357129172)<br>|
| Net assets | &nbsp;&nbsp; $2021981426 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 229203522 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | &nbsp;&nbsp; **Shares** <br>**outstanding**<br>| &nbsp;&nbsp; **Net asset value** <br>**per share (a)**<br>|
| Class A | &nbsp;&nbsp;&nbsp; $330362027 | &nbsp;&nbsp;&nbsp; 37408975 | &nbsp;&nbsp;&nbsp; $8.83 |
| Class B | &nbsp;&nbsp;&nbsp; 233912 | &nbsp;&nbsp;&nbsp; 26523 | &nbsp;&nbsp;&nbsp;&nbsp;8.82 |
| Class C | &nbsp;&nbsp;&nbsp; 3454376 | &nbsp;&nbsp;&nbsp; 390438 | &nbsp;&nbsp;&nbsp;&nbsp;8.85 |
| Class I | &nbsp;&nbsp;&nbsp; 257736991 | &nbsp;&nbsp;&nbsp; 29237071 | &nbsp;&nbsp;&nbsp;&nbsp;8.82 |
| Class R1 | &nbsp;&nbsp;&nbsp; 781791 | &nbsp;&nbsp;&nbsp; 88598 | &nbsp;&nbsp;&nbsp;&nbsp;8.82 |
| Class R2 | &nbsp;&nbsp;&nbsp; 33660292 | &nbsp;&nbsp;&nbsp; 3815803 | &nbsp;&nbsp;&nbsp;&nbsp;8.82 |
| Class R3 | &nbsp;&nbsp;&nbsp; 17077952 | &nbsp;&nbsp;&nbsp; 1934788 | &nbsp;&nbsp;&nbsp;&nbsp;8.83 |
| Class R4 | &nbsp;&nbsp;&nbsp; 24638152 | &nbsp;&nbsp;&nbsp; 2790809 | &nbsp;&nbsp;&nbsp;&nbsp;8.83 |
| Class R6 | &nbsp;&nbsp;&nbsp; 1354035933 | &nbsp;&nbsp;&nbsp; 153510517 | &nbsp;&nbsp;&nbsp;&nbsp;8.82 |

---

&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 $9.22 [100 / 95.75 x $8.83]. On sales of $100,000 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 Government Securities 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.

---

| | |
|:---|:---|
| **Year ended 2/28/26** <br> **Net investment income (loss)**<br>|  |
| Income |  |
| Interest | &nbsp;&nbsp; $72995656 |
| Dividends from affiliated issuers | &nbsp;&nbsp; 6481655 |
| Other | &nbsp;&nbsp; 34253 |
| Total investment income | &nbsp;&nbsp; $79511564 |
| Expenses |  |
| Management fee | &nbsp;&nbsp; $7376533 |
| Distribution and service fees | &nbsp;&nbsp; 1131525 |
| Shareholder servicing costs | &nbsp;&nbsp; 954631 |
| Administrative services fee | &nbsp;&nbsp; 261178 |
| Independent Trustees' compensation | &nbsp;&nbsp; 48337 |
| Custodian fee | &nbsp;&nbsp; 129001 |
| Shareholder communications | &nbsp;&nbsp; 44874 |
| Audit and tax fees | &nbsp;&nbsp; 84820 |
| Legal fees | &nbsp;&nbsp; 10834 |
| Miscellaneous | &nbsp;&nbsp; 272761 |
| Total expenses | &nbsp;&nbsp; $10314494 |
| Fees paid indirectly | &nbsp;&nbsp; (6714)<br>|
| Reduction of expenses by investment adviser and distributor | &nbsp;&nbsp; (272426)<br>|
| Net expenses | &nbsp;&nbsp; $10035354 |
| Net investment income (loss) | &nbsp;&nbsp; $69476210 |
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Unaffiliated issuers | &nbsp;&nbsp; $(1982115)<br>|
| Affiliated issuers | &nbsp;&nbsp; (6655)<br>|
| Futures contracts | &nbsp;&nbsp; 9844780 |
| Swap agreements | &nbsp;&nbsp; (1141257)<br>|
| Foreign currency | &nbsp;&nbsp; (643)<br>|
| Net realized gain (loss) | &nbsp;&nbsp; $6714110 |
| Change in unrealized appreciation or depreciation |  |
| Unaffiliated issuers | &nbsp;&nbsp; $38779808 |
| Affiliated issuers | &nbsp;&nbsp; 4545 |
| Futures contracts | &nbsp;&nbsp; (1933842)<br>|
| Swap agreements | &nbsp;&nbsp; 109052 |
| Net unrealized gain (loss) | &nbsp;&nbsp; $36959563 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $43673673 |
| Change in net assets from operations | &nbsp;&nbsp; $113149883 |

---

**See Notes to Financial Statements**

------

MFS Government Securities 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.

---

| | | |
|:---|:---|:---|
|  | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $69476210 | &nbsp;&nbsp; $72816333 |
| Net realized gain (loss) | 6714110 | &nbsp;&nbsp; (20962586)<br>|
| Net unrealized gain (loss) | 36959563 | &nbsp;&nbsp; 57812515 |
| Change in net assets from operations | $113149883 | &nbsp;&nbsp; $109666262 |
| Total distributions to shareholders | $(73481884)<br>| &nbsp;&nbsp; $(82024549)<br>|
| Change in net assets from fund share transactions | $(20315781)<br>| &nbsp;&nbsp; $(170957477)<br>|
| Total change in net assets | $19352218 | &nbsp;&nbsp; $(143315764)<br>|
| **Net assets** |  |  |
| At beginning of period | 2002629208 | &nbsp;&nbsp; 2145944972 |
| At end of period | $2021981426 | &nbsp;&nbsp; $2002629208 |

---

**See Notes to Financial Statements**

------

MFS Government Securities Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the past 5 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**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $8.66 | &nbsp;&nbsp; $8.54 | &nbsp;&nbsp; $8.69 | &nbsp;&nbsp; $9.81 | &nbsp;&nbsp; $10.15 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.28 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.25 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $0.07 |
| Net realized and unrealized gain (loss) | 0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (0.31)<br>|
| Total from investment operations | $0.47 | &nbsp;&nbsp; $0.44 | &nbsp;&nbsp; $0.13 | &nbsp;&nbsp; $(0.96)<br>| &nbsp;&nbsp; $(0.24)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.30)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.16)<br>| &nbsp;&nbsp; $(0.10)<br>|
| Net asset value, end of period (x) | $8.83 | &nbsp;&nbsp; $8.66 | &nbsp;&nbsp; $8.54 | &nbsp;&nbsp; $8.69 | &nbsp;&nbsp; $9.81 |
| Total return (%) (r)(s)(t)(x) | 5.57 | &nbsp;&nbsp;&nbsp;&nbsp;5.23 | &nbsp;&nbsp;&nbsp;&nbsp;1.51 | &nbsp;&nbsp; (9.83)<br>| &nbsp;&nbsp; (2.43)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f) | 0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 |
| Expenses after expense reductions (f) | 0.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 |
| Net investment income (loss) | 3.29 | &nbsp;&nbsp;&nbsp;&nbsp;3.26 | &nbsp;&nbsp;&nbsp;&nbsp;2.89 | &nbsp;&nbsp;&nbsp;&nbsp;1.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 |
| Portfolio turnover rate | 139 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 198 | &nbsp;&nbsp; 398 |
| Net assets at end of period (000 omitted) | $330362 | &nbsp;&nbsp; $367305 | &nbsp;&nbsp; $415010 | &nbsp;&nbsp; $468595 | &nbsp;&nbsp; $589493 |
| **Supplemental Rate:** |  |  |  |  |  |
| Portfolio turnover rate (excluding TBA transactions) (e) | 53 | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 73 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class B**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $8.65 | &nbsp;&nbsp; $8.53 | &nbsp;&nbsp; $8.68 | &nbsp;&nbsp; $9.80 | &nbsp;&nbsp; $10.14 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.22 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.18 | &nbsp;&nbsp; $0.08 | &nbsp;&nbsp; $(0.00)(w)<br>|
| Net realized and unrealized gain (loss) | 0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (0.32)<br>|
| Total from investment operations | $0.41 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $(1.03)<br>| &nbsp;&nbsp; $(0.32)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.24)<br>| &nbsp;&nbsp; $(0.25)<br>| &nbsp;&nbsp; $(0.21)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.02)<br>|
| Net asset value, end of period (x) | $8.82 | &nbsp;&nbsp; $8.65 | &nbsp;&nbsp; $8.53 | &nbsp;&nbsp; $8.68 | &nbsp;&nbsp; $9.80 |
| Total return (%) (r)(s)(t)(x) | 4.79 | &nbsp;&nbsp;&nbsp;&nbsp;4.45 | &nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp; (10.52)<br>| &nbsp;&nbsp; (3.16)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f) | 1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.54 |
| Expenses after expense reductions (f) | 1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.51 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 |
| Net investment income (loss) | 2.55 | &nbsp;&nbsp;&nbsp;&nbsp;2.51 | &nbsp;&nbsp;&nbsp;&nbsp;2.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp; (0.02)<br>|
| Portfolio turnover rate | 139 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 198 | &nbsp;&nbsp; 398 |
| Net assets at end of period (000 omitted) | $234 | &nbsp;&nbsp; $535 | &nbsp;&nbsp; $936 | &nbsp;&nbsp; $1529 | &nbsp;&nbsp; $2757 |
| **Supplemental Rate:** |  |  |  |  |  |
| Portfolio turnover rate (excluding TBA transactions) (e) | 53 | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 73 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |

---

**See Notes to Financial Statements**

------

MFS Government Securities Fund

*Financial Highlights - continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class C**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $8.67 | &nbsp;&nbsp; $8.55 | &nbsp;&nbsp; $8.70 | &nbsp;&nbsp; $9.83 | &nbsp;&nbsp; $10.17 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.22 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.18 | &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $(0.00)(w)<br>|
| Net realized and unrealized gain (loss) | 0.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (0.32)<br>|
| Total from investment operations | $0.42 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $(1.04)<br>| &nbsp;&nbsp; $(0.32)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.24)<br>| &nbsp;&nbsp; $(0.25)<br>| &nbsp;&nbsp; $(0.21)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.02)<br>|
| Net asset value, end of period (x) | $8.85 | &nbsp;&nbsp; $8.67 | &nbsp;&nbsp; $8.55 | &nbsp;&nbsp; $8.70 | &nbsp;&nbsp; $9.83 |
| Total return (%) (r)(s)(t)(x) | 4.90 | &nbsp;&nbsp;&nbsp;&nbsp;4.44 | &nbsp;&nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp; (10.58)<br>| &nbsp;&nbsp; (3.15)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f) | 1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.54 |
| Expenses after expense reductions (f) | 1.51 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.51 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 |
| Net investment income (loss) | 2.53 | &nbsp;&nbsp;&nbsp;&nbsp;2.51 | &nbsp;&nbsp;&nbsp;&nbsp;2.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp; (0.01)<br>|
| Portfolio turnover rate | 139 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 198 | &nbsp;&nbsp; 398 |
| Net assets at end of period (000 omitted) | $3454 | &nbsp;&nbsp; $2910 | &nbsp;&nbsp; $3704 | &nbsp;&nbsp; $5146 | &nbsp;&nbsp; $10187 |
| **Supplemental Rate:** |  |  |  |  |  |
| Portfolio turnover rate (excluding TBA transactions) (e) | 53 | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 73 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class I**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $8.64 | &nbsp;&nbsp; $8.52 | &nbsp;&nbsp; $8.67 | &nbsp;&nbsp; $9.80 | &nbsp;&nbsp; $10.14 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.31 | &nbsp;&nbsp; $0.30 | &nbsp;&nbsp; $0.27 | &nbsp;&nbsp; $0.17 | &nbsp;&nbsp; $0.10 |
| Net realized and unrealized gain (loss) | 0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp; (0.32)<br>|
| Total from investment operations | $0.50 | &nbsp;&nbsp; $0.46 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $(0.95)<br>| &nbsp;&nbsp; $(0.22)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.32)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.18)<br>| &nbsp;&nbsp; $(0.12)<br>|
| Net asset value, end of period (x) | $8.82 | &nbsp;&nbsp; $8.64 | &nbsp;&nbsp; $8.52 | &nbsp;&nbsp; $8.67 | &nbsp;&nbsp; $9.80 |
| Total return (%) (r)(s)(t)(x) | 5.95 | &nbsp;&nbsp;&nbsp;&nbsp;5.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.76 | &nbsp;&nbsp; (9.71)<br>| &nbsp;&nbsp; (2.18)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f) | 0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 |
| Expenses after expense reductions (f) | 0.51 | &nbsp;&nbsp;&nbsp;&nbsp;0.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;0.52 |
| Net investment income (loss) | 3.53 | &nbsp;&nbsp;&nbsp;&nbsp;3.51 | &nbsp;&nbsp;&nbsp;&nbsp;3.15 | &nbsp;&nbsp;&nbsp;&nbsp;1.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.97 |
| Portfolio turnover rate | 139 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 198 | &nbsp;&nbsp; 398 |
| Net assets at end of period (000 omitted) | $257737 | &nbsp;&nbsp; $234727 | &nbsp;&nbsp; $358416 | &nbsp;&nbsp; $233540 | &nbsp;&nbsp; $274851 |
| **Supplemental Rate:** |  |  |  |  |  |
| Portfolio turnover rate (excluding TBA transactions) (e) | 53 | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 73 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |

---

**See Notes to Financial Statements**

------

MFS Government Securities Fund

*Financial Highlights - continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R1**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $8.65 | &nbsp;&nbsp; $8.53 | &nbsp;&nbsp; $8.68 | &nbsp;&nbsp; $9.80 | &nbsp;&nbsp; $10.14 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.22 | &nbsp;&nbsp; $0.22 | &nbsp;&nbsp; $0.18 | &nbsp;&nbsp; $0.08 | &nbsp;&nbsp; $(0.00)(w)<br>|
| Net realized and unrealized gain (loss) | 0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (0.32)<br>|
| Total from investment operations | $0.41 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $(1.03)<br>| &nbsp;&nbsp; $(0.32)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.24)<br>| &nbsp;&nbsp; $(0.25)<br>| &nbsp;&nbsp; $(0.21)<br>| &nbsp;&nbsp; $(0.09)<br>| &nbsp;&nbsp; $(0.02)<br>|
| Net asset value, end of period (x) | $8.82 | &nbsp;&nbsp; $8.65 | &nbsp;&nbsp; $8.53 | &nbsp;&nbsp; $8.68 | &nbsp;&nbsp; $9.80 |
| Total return (%) (r)(s)(t)(x) | 4.79 | &nbsp;&nbsp;&nbsp;&nbsp;4.45 | &nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp; (10.52)<br>| &nbsp;&nbsp; (3.16)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f) | 1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;1.54 |
| Expenses after expense reductions (f) | 1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.51 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 |
| Net investment income (loss) | 2.58 | &nbsp;&nbsp;&nbsp;&nbsp;2.51 | &nbsp;&nbsp;&nbsp;&nbsp;2.15 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp; (0.02)<br>|
| Portfolio turnover rate | 139 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 198 | &nbsp;&nbsp; 398 |
| Net assets at end of period (000 omitted) | $782 | &nbsp;&nbsp; $1501 | &nbsp;&nbsp; $1592 | &nbsp;&nbsp; $1587 | &nbsp;&nbsp; $1960 |
| **Supplemental Rate:** |  |  |  |  |  |
| Portfolio turnover rate (excluding TBA transactions) (e) | 53 | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 73 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R2**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $8.65 | &nbsp;&nbsp; $8.53 | &nbsp;&nbsp; $8.68 | &nbsp;&nbsp; $9.80 | &nbsp;&nbsp; $10.14 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.26 | &nbsp;&nbsp; $0.26 | &nbsp;&nbsp; $0.23 | &nbsp;&nbsp; $0.13 | &nbsp;&nbsp; $0.05 |
| Net realized and unrealized gain (loss) | 0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (0.32)<br>|
| Total from investment operations | $0.45 | &nbsp;&nbsp; $0.42 | &nbsp;&nbsp; $0.11 | &nbsp;&nbsp; $(0.98)<br>| &nbsp;&nbsp; $(0.27)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.28)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.26)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.07)<br>|
| Net asset value, end of period (x) | $8.82 | &nbsp;&nbsp; $8.65 | &nbsp;&nbsp; $8.53 | &nbsp;&nbsp; $8.68 | &nbsp;&nbsp; $9.80 |
| Total return (%) (r)(s)(t)(x) | 5.31 | &nbsp;&nbsp;&nbsp;&nbsp;4.97 | &nbsp;&nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp; (10.07)<br>| &nbsp;&nbsp; (2.67)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f) | 1.03 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;1.04 |
| Expenses after expense reductions (f) | 1.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 |
| Net investment income (loss) | 3.04 | &nbsp;&nbsp;&nbsp;&nbsp;3.01 | &nbsp;&nbsp;&nbsp;&nbsp;2.64 | &nbsp;&nbsp;&nbsp;&nbsp;1.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 |
| Portfolio turnover rate | 139 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 198 | &nbsp;&nbsp; 398 |
| Net assets at end of period (000 omitted) | $33660 | &nbsp;&nbsp; $37232 | &nbsp;&nbsp; $36279 | &nbsp;&nbsp; $40295 | &nbsp;&nbsp; $49375 |
| **Supplemental Rate:** |  |  |  |  |  |
| Portfolio turnover rate (excluding TBA transactions) (e) | 53 | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 73 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |

---

**See Notes to Financial Statements**

------

MFS Government Securities Fund

*Financial Highlights - continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R3**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $8.65 | &nbsp;&nbsp; $8.53 | &nbsp;&nbsp; $8.68 | &nbsp;&nbsp; $9.81 | &nbsp;&nbsp; $10.15 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.29 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.25 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $0.07 |
| Net realized and unrealized gain (loss) | 0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp; (0.31)<br>|
| Total from investment operations | $0.48 | &nbsp;&nbsp; $0.44 | &nbsp;&nbsp; $0.13 | &nbsp;&nbsp; $(0.97)<br>| &nbsp;&nbsp; $(0.24)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.30)<br>| &nbsp;&nbsp; $(0.32)<br>| &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.16)<br>| &nbsp;&nbsp; $(0.10)<br>|
| Net asset value, end of period (x) | $8.83 | &nbsp;&nbsp; $8.65 | &nbsp;&nbsp; $8.53 | &nbsp;&nbsp; $8.68 | &nbsp;&nbsp; $9.81 |
| Total return (%) (r)(s)(t)(x) | 5.69 | &nbsp;&nbsp;&nbsp;&nbsp;5.23 | &nbsp;&nbsp;&nbsp;&nbsp;1.51 | &nbsp;&nbsp; (9.93)<br>| &nbsp;&nbsp; (2.43)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f) | 0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 |
| Expenses after expense reductions (f) | 0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 |
| Net investment income (loss) | 3.29 | &nbsp;&nbsp;&nbsp;&nbsp;3.26 | &nbsp;&nbsp;&nbsp;&nbsp;2.89 | &nbsp;&nbsp;&nbsp;&nbsp;1.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 |
| Portfolio turnover rate | 139 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 198 | &nbsp;&nbsp; 398 |
| Net assets at end of period (000 omitted) | $17078 | &nbsp;&nbsp; $20145 | &nbsp;&nbsp; $22264 | &nbsp;&nbsp; $27808 | &nbsp;&nbsp; $38286 |
| **Supplemental Rate:** |  |  |  |  |  |
| Portfolio turnover rate (excluding TBA transactions) (e) | 53 | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 73 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R4**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $8.65 | &nbsp;&nbsp; $8.54 | &nbsp;&nbsp; $8.69 | &nbsp;&nbsp; $9.81 | &nbsp;&nbsp; $10.15 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.31 | &nbsp;&nbsp; $0.30 | &nbsp;&nbsp; $0.27 | &nbsp;&nbsp; $0.17 | &nbsp;&nbsp; $0.10 |
| Net realized and unrealized gain (loss) | 0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (0.32)<br>|
| Total from investment operations | $0.50 | &nbsp;&nbsp; $0.45 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $(0.94)<br>| &nbsp;&nbsp; $(0.22)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.32)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.18)<br>| &nbsp;&nbsp; $(0.12)<br>|
| Net asset value, end of period (x) | $8.83 | &nbsp;&nbsp; $8.65 | &nbsp;&nbsp; $8.54 | &nbsp;&nbsp; $8.69 | &nbsp;&nbsp; $9.81 |
| Total return (%) (r)(s)(t)(x) | 5.95 | &nbsp;&nbsp;&nbsp;&nbsp;5.36 | &nbsp;&nbsp;&nbsp;&nbsp;1.76 | &nbsp;&nbsp; (9.60)<br>| &nbsp;&nbsp; (2.18)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f) | 0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.54 |
| Expenses after expense reductions (f) | 0.51 | &nbsp;&nbsp;&nbsp;&nbsp;0.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 |
| Net investment income (loss) | 3.53 | &nbsp;&nbsp;&nbsp;&nbsp;3.51 | &nbsp;&nbsp;&nbsp;&nbsp;3.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.87 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 |
| Portfolio turnover rate | 139 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 198 | &nbsp;&nbsp; 398 |
| Net assets at end of period (000 omitted) | $24638 | &nbsp;&nbsp; $23195 | &nbsp;&nbsp; $42489 | &nbsp;&nbsp; $42785 | &nbsp;&nbsp; $53252 |
| **Supplemental Rate:** |  |  |  |  |  |
| Portfolio turnover rate (excluding TBA transactions) (e) | 53 | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 73 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |

---

**See Notes to Financial Statements**

------

MFS Government Securities Fund

*Financial Highlights - continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R6**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $8.65 | &nbsp;&nbsp; $8.53 | &nbsp;&nbsp; $8.68 | &nbsp;&nbsp; $9.80 | &nbsp;&nbsp; $10.14 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.31 | &nbsp;&nbsp; $0.31 | &nbsp;&nbsp; $0.28 | &nbsp;&nbsp; $0.18 | &nbsp;&nbsp; $0.11 |
| Net realized and unrealized gain (loss) | 0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (0.32)<br>|
| Total from investment operations | $0.50 | &nbsp;&nbsp; $0.47 | &nbsp;&nbsp; $0.16 | &nbsp;&nbsp; $(0.93)<br>| &nbsp;&nbsp; $(0.21)<br>|
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.33)<br>| &nbsp;&nbsp; $(0.35)<br>| &nbsp;&nbsp; $(0.31)<br>| &nbsp;&nbsp; $(0.19)<br>| &nbsp;&nbsp; $(0.13)<br>|
| Net asset value, end of period (x) | $8.82 | &nbsp;&nbsp; $8.65 | &nbsp;&nbsp; $8.53 | &nbsp;&nbsp; $8.68 | &nbsp;&nbsp; $9.80 |
| Total return (%) (r)(s)(t)(x) | 5.93 | &nbsp;&nbsp;&nbsp;&nbsp;5.59 | &nbsp;&nbsp;&nbsp;&nbsp;1.87 | &nbsp;&nbsp; (9.52)<br>| &nbsp;&nbsp; (2.08)<br>|
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions (f) | 0.44 | &nbsp;&nbsp;&nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;0.44 |
| Expenses after expense reductions (f) | 0.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.41 | &nbsp;&nbsp;&nbsp;&nbsp;0.41 | &nbsp;&nbsp;&nbsp;&nbsp;0.42 |
| Net investment income (loss) | 3.62 | &nbsp;&nbsp;&nbsp;&nbsp;3.61 | &nbsp;&nbsp;&nbsp;&nbsp;3.25 | &nbsp;&nbsp;&nbsp;&nbsp;1.98 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 |
| Portfolio turnover rate | 139 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 198 | &nbsp;&nbsp; 398 |
| Net assets at end of period (000 omitted) | $1354036 | &nbsp;&nbsp; $1315080 | &nbsp;&nbsp; $1265255 | &nbsp;&nbsp; $1308767 | &nbsp;&nbsp; $1561273 |
| **Supplemental Rate:** |  |  |  |  |  |
| Portfolio turnover rate (excluding TBA transactions) (e) | 53 | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 73 | &nbsp;&nbsp; N/A | &nbsp;&nbsp; N/A |

---

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Portfolio turnover rate (excluding TBA transactions) is disclosed beginning with the
 period ending February 29, 2024. Refer to Note 2 for more information on TBA transactions and mortgage dollar rolls.

&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;(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 Government Securities Fund

**Notes to Financial Statements**

**(1) Business and Organization**

MFS Government Securities Fund (the fund) is a diversified series of MFS Series Trust XIII (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.

**Segment Reporting** — 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, 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. 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.

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

------

MFS Government Securities Fund

*Notes to Financial Statements - continued* 

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. Other financial instruments are derivative instruments, such as futures contracts and swap agreements. The following is a summary of the levels used as of February 28, 2026 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>| $— | $754015808 | $— | $754015808 |
| U.S. Corporate Bonds |  | 1952176 |  | 1952176 |
| Residential Mortgage-Backed Securities |  | 1157958914 |  | 1157958914 |
| Commercial Mortgage-Backed Securities |  | 40722247 |  | 40722247 |
| Asset-Backed Securities (including CDOs) |  | 63097478 |  | 63097478 |
| Purchased Options |  | 386084 |  | 386084 |
| Investment Companies | 66351406 |  |  | 66351406 |
| Total | $66351406 | $2018132707 | $— | $2084484113 |

---

---

| | | |
|:---|:---|:---|
| **Other Financial Instruments** |  |  |
| Futures Contracts – Assets | $— | $4413056 |
| Futures Contracts – Liabilities |  | (61618)<br>|
| Swap Agreements – Assets | 51641 | 51641 |
| Swap Agreements – Liabilities | (1346123)<br>| (1346123)<br>|

---

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.

------

MFS Government Securities Fund

*Notes to Financial Statements - continued* 

**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, futures contracts, and swap agreements. 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 may be unable to promptly close out a futures position in instances where the daily fluctuation in the price for that type of future exceeds the daily limit set by the exchange. 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 February 28, 2026 as reported in the Statement of Assets and Liabilities:

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Fair Value (a)** | **Fair Value (a)** |
| **Risk** | **Derivative Contracts** | **Asset Derivatives** | **Liability Derivatives** |
| Interest Rate | Purchased Option Contracts | $386084 | $— |
| Interest Rate | Futures Contracts | 4413056 | (61618) |
| Interest Rate | Cleared Swap Agreements | 51641 | (1346123) |
| Total |  | $4850781 | $(1407741) |

---

(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 and cleared swap agreements correspond to the values reported in the Portfolio of Investments. Only the current day net variation margin for futures contracts and cleared swap agreements 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 year ended February 28, 2026 as reported in the Statement of Operations:

---

| | | |
|:---|:---|:---|
| **Risk** | **Futures** <br>**Contracts**<br>| **Swap** <br>**Agreements**<br>|
| Interest Rate | $9844780 | &nbsp;&nbsp; $(1141257)<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 year ended February 28, 2026 as reported in the Statement of Operations:

---

| | | | |
|:---|:---|:---|:---|
| **Risk** | **Futures** <br>**Contracts**<br>| **Swap** <br>**Agreements**<br>| **Unaffiliated Issuers** <br>**(Purchased** <br>**Options)**<br>|
| Interest Rate | $(1933842)<br>| &nbsp;&nbsp; $109052 | &nbsp;&nbsp; $(78916)<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 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

------

MFS Government Securities Fund

*Notes to Financial Statements - continued* 

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.

**Purchased Options** — The fund purchased call and put options for a premium. Purchased call and put options entitle the holder to buy and 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 call options may hedge against an anticipated increase in the dollar cost of securities or currency to be acquired or increase the fund's exposure to an underlying instrument. 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.

A purchased swaption represents an option that gives the fund as purchaser the right, but not the obligation, to enter into a pre-defined interest rate or credit default swap agreement with the counterparty at a specified rate at a specified date or within a specified period of time. The fund enters into swaptions primarily to preserve a return or spread on a particular investment or portion of the fund's investments, to adjust the fund's sensitivity to underlying risk factors or to protect against an increase or decrease in the price of securities.

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 call and 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 call option, the premium paid is added to the cost of the security or financial instrument purchased. 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, 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.

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 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.

**Swap Agreements** — The fund entered into swap agreements which generally involve a periodic exchange of cash payments on a net basis, at specified intervals or upon the occurrence of specified events, between the fund and a counterparty. Certain swap agreements may be entered into as a bilateral contract ("uncleared swaps") while others are required to be centrally cleared ("cleared swaps").

Both cleared and uncleared swap agreements are marked to market daily. The value of uncleared swap agreements is reported in the Statement of Assets and Liabilities as "Uncleared swaps, at value" which includes any related interest accruals to be paid or received by the fund. For cleared swaps, payments (variation margin) are made or received by the fund each day, depending on the daily fluctuations in the value of the cleared swap, such that only the current day net receivable or payable for variation margin is reported in the Statement of Assets and Liabilities.

------

MFS Government Securities Fund

*Notes to Financial Statements - continued* 

For both cleared and uncleared swaps, premiums paid or received at the inception of the agreements are amortized over the term of the agreement as realized gain or loss on swap agreements in the Statement of Operations. The periodic exchange of net cash payments, as well as any liquidation payment received or made upon early termination, are recorded as a realized gain or loss on swap agreements in the Statement of Operations. The change in unrealized appreciation or depreciation on swap agreements in the Statement of Operations reflects the aggregate change over the reporting period in the value of swaps net of any unamortized premiums paid or received.

Risks related to swap agreements include the possible lack of a liquid market, unfavorable market and interest rate movements of the underlying instrument and the failure of the counterparty to perform under the terms of the agreements. The fund's maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from/paid to the counterparty over the contract's remaining life, to the extent that the amount is positive. To address counterparty risk, uncleared swap agreements are limited to only highly-rated counterparties. Risk is further reduced by having an ISDA Master Agreement ("ISDA") between the fund and the counterparty 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. The fund's counterparty risk due to cleared swaps is mitigated by the fact that the clearinghouse is the counterparty to the transaction and the regulatory requirement safeguards in the event of a clearing broker bankruptcy.

The fund entered into interest rate swap agreements in order to manage its exposure to interest rate fluctuations. Interest rate swap agreements involve the periodic exchange of cash flows, between the fund and a counterparty, based on the difference between two interest rates applied to a notional principal amount. The two interest rates exchanged may either be a fixed rate and a floating rate or two floating rates based on different indices.

The fund entered into inflation swap agreements in order to manage its exposure to inflation risk. Inflation swap agreements involve the periodic exchange of cash flows, between the fund and a counterparty, based on the difference between two rates applied to a notional principal amount. The two rates exchanged are generally a fixed rate and a floating rate based on an inflation index.

**Mortgage-Backed/Asset-Backed Securities** — The fund invests a significant portion of its 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.

**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. Interest payments received in additional securities are recorded on the 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.

The fund may purchase or sell mortgage-backed securities on a To Be Announced ("TBA") basis. A TBA transaction is subject to extended settlement and typically does not designate the actual security to be delivered, but instead includes an approximate principal amount. The price of the TBA security and the date that it will be settled are fixed at the time the transaction is negotiated. The value of the security varies with market fluctuations and no interest accrues to the fund until settlement takes place. TBA purchase and sale commitments are held at carrying amount, which approximates fair value and are categorized as level 2 within the fair value hierarchy and included in TBA purchase and TBA sale commitments in the Statement of Assets and Liabilities, as applicable. Losses may arise as a result of changes in the value of the TBA investment prior to settlement date or due to counterparty non-performance.

------

MFS Government Securities Fund

*Notes to Financial Statements - continued* 

The fund may also enter into mortgage dollar rolls, typically TBA dollar rolls, in which the fund sells TBA mortgage-backed securities to financial institutions and simultaneously agrees to repurchase similar (same issuer, type and coupon) securities at a later date at an agreed-upon price. During the period between the sale and repurchase, the fund will not be entitled to receive interest and principal payments on the securities sold. The fund accounts for dollar roll transactions as purchases and sales and realizes gains and losses on these transactions. As such, these transactions may result in an increase to the fund's portfolio turnover rate. Portfolio turnover rates including and excluding TBA transactions are presented in the Financial Highlights. Dollar roll transactions involve the risk that the market value of the securities that the fund is required to purchase may decline below the agreed upon repurchase price of those securities.

To mitigate the counterparty credit risk on To Be Announced ("TBA") transactions, mortgage dollar rolls, and other types of forward settling mortgage-backed and asset-backed security transactions, the fund whenever possible enters into a Master Securities Forward Transaction Agreement ("MSFTA") on a bilateral basis with each of the counterparties with whom it undertakes a significant volume of transactions. The MSFTA 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 MSFTA, the non-defaulting party has the right to close out all transactions traded under such agreement and to net amounts owed under each transaction 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 MSFTA 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.

For mortgage-backed and asset-backed securities traded under a MSFTA, the collateral and margining requirements are contract specific. Collateral amounts across all transactions traded under such agreement are netted and an amount is posted from one party to the other to collateralize such obligations. Cash that has been pledged to cover the fund's collateral or margin obligations under a MSFTA, if any, will be reported separately on the Statement of Assets and Liabilities as restricted cash. Securities pledged as collateral or margin for the same purpose, if any, are noted in the Portfolio of Investments.

**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 year ended February 28, 2026, 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 amortization of premium and accretion of discount of debt securities, wash sale loss deferrals, and derivative transactions.

The tax character of distributions declared to shareholders for the last two fiscal years is as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**2/28/26**<br>| &nbsp;&nbsp; **Year ended** <br>**2/28/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $73481884 | &nbsp;&nbsp; $82024549 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

------

MFS Government Securities Fund

*Notes to Financial Statements - continued* 

---

| | |
|:---|:---|
| **As of 2/28/26** |  |
| Cost of investments | &nbsp;&nbsp; $2147570299 |
| Gross appreciation | &nbsp;&nbsp; 17226003 |
| Gross depreciation | &nbsp;&nbsp; (77255233)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $(60029230)<br>|
| Undistributed ordinary income | &nbsp;&nbsp; 10906216 |
| Capital loss carryforwards | &nbsp;&nbsp; (301851066)<br>|
| Other temporary differences | &nbsp;&nbsp; (6155092)<br>|
| Total distributable earnings (loss) | &nbsp;&nbsp; $(357129172)<br>|

---

As of February 28, 2026, 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 | $(107244460)<br>|
| Long-Term | (194606606)<br>|
| Total | $(301851066)<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 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 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:

---

| | | |
|:---|:---|:---|
|  | **Year ended** <br>**2/28/26**<br>| **Year ended** <br>**2/28/25**<br>|
| Class A | $12066291 | &nbsp;&nbsp; $14427797 |
| Class B | 10898 | &nbsp;&nbsp; 22362 |
| Class C | 84121 | &nbsp;&nbsp; 96568 |
| Class I | 9080755 | &nbsp;&nbsp; 11558155 |
| Class R1 | 24753 | &nbsp;&nbsp; 45399 |
| Class R2 | 1140087 | &nbsp;&nbsp; 1291803 |
| Class R3 | 646441 | &nbsp;&nbsp; 839315 |
| Class R4 | 903396 | &nbsp;&nbsp; 1472864 |
| Class R6 | 49525142 | &nbsp;&nbsp; 52270286 |
| Total | $73481884 | &nbsp;&nbsp; $82024549 |

---

**(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 | 0.40% |
| In excess of $1 billion and up to $2.5 billion | 0.35% |
| In excess of $2.5 billion and up to $5 billion | 0.30% |
| In excess of $5 billion | 0.29% |

---

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 June 30, 2026. For the year ended February 28, 2026, this management fee reduction amounted to $271,453, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the year ended February 28, 2026 was equivalent to an annual effective rate of 0.36% of the fund's average daily net assets.

------

MFS Government Securities Fund

*Notes to Financial Statements - continued* 

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** |
| 0.80% | 1.55% | 1.55% | 0.55% | 1.55% | 1.05% | 0.80% | 0.55% | 0.44% |

---

This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until June 30, 2027. For the year ended February 28, 2026, 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 $2,622 for the year ended February 28, 2026, 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% | $865322 |
| Class B | 0.75% | 0.25% | 1.00% | 1.00% | 3989 |
| Class C | 0.75% | 0.25% | 1.00% | 1.00% | 30700 |
| Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 9072 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 176080 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 46362 |
| Total Distribution and Service Fees  |  |  |  |  | $1131525 |

---

(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 year ended February 28, 2026 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 year ended February 28, 2026, this rebate amounted to $962, $1, and $10 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 year ended February 28, 2026, were as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| Class A | $5305 |
| Class B |  |
| Class C | 2072 |

---

**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 year ended February 28, 2026, the fee was $260,516, which equated to 0.0133% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for

------

MFS Government Securities Fund

*Notes to Financial Statements - continued* 

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 year ended February 28, 2026, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $694,115.

**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 year ended February 28, 2026 was equivalent to an annual effective rate of 0.0133% 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 I | 3 | $25 |
| 8/19/2024 | Redemption | Class R1 | 2 | 19 |
| 8/19/2024 | Redemption | Class R2 | 3 | 23 |
| 8/19/2024 | Redemption | Class R3 | 3 | 29 |
| 8/19/2024 | Redemption | Class R4 | 3 | 26 |

---

**(4) Portfolio Securities**

For the year ended February 28, 2026, 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, were as follows:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
| U.S. Government securities | $2548504309 | &nbsp;&nbsp; $2641734658 |
| Non-U.S. Government securities | 82196541 | &nbsp;&nbsp; 112466129 |

---

**(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:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended** <br>**2/28/26** | **Year ended** <br>**2/28/26** | **Year ended** <br>**2/28/25** | **Year ended** <br>**2/28/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 3174979 | &nbsp;&nbsp; $27520732 | &nbsp;&nbsp; 4537265 | &nbsp;&nbsp; $38939747 |
| Class B | 348 | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 11141 | &nbsp;&nbsp; 97227 |
| Class C | 147840 | &nbsp;&nbsp; 1285276 | &nbsp;&nbsp; 52896 | &nbsp;&nbsp; 455271 |
| Class I | 7812761 | &nbsp;&nbsp; 67567470 | &nbsp;&nbsp; 7510875 | &nbsp;&nbsp; 64278627 |
| Class R1 | 8752 | &nbsp;&nbsp; 75939 | &nbsp;&nbsp; 12060 | &nbsp;&nbsp; 103453 |
| Class R2 | 1046448 | &nbsp;&nbsp; 9049571 | &nbsp;&nbsp; 1344620 | &nbsp;&nbsp; 11486472 |
| Class R3 | 542563 | &nbsp;&nbsp; 4707927 | &nbsp;&nbsp; 937308 | &nbsp;&nbsp; 8029249 |
| Class R4 | 692543 | &nbsp;&nbsp; 5999314 | &nbsp;&nbsp; 1023757 | &nbsp;&nbsp; 8784119 |
| Class R6 | 17467031 | &nbsp;&nbsp; 151179531 | &nbsp;&nbsp; 13445286 | &nbsp;&nbsp; 114851189 |
|  | 30893265 | &nbsp;&nbsp; $267388760 | &nbsp;&nbsp; 28875208 | &nbsp;&nbsp; $247025354 |

---

------

MFS Government Securities Fund

*Notes to Financial Statements - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended**<br> **2/28/26** | **Year ended**<br> **2/28/26** | **Year ended**<br> **2/28/25** | **Year ended**<br> **2/28/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A | 1332266 | &nbsp;&nbsp; $11571999 | &nbsp;&nbsp; 1612625 | &nbsp;&nbsp; $13839228 |
| Class B | 1249 | &nbsp;&nbsp; 10821 | &nbsp;&nbsp; 2600 | &nbsp;&nbsp; 22280 |
| Class C | 9624 | &nbsp;&nbsp; 83804 | &nbsp;&nbsp; 11143 | &nbsp;&nbsp; 95778 |
| Class I | 1029697 | &nbsp;&nbsp; 8934877 | &nbsp;&nbsp; 1331636 | &nbsp;&nbsp; 11392922 |
| Class R1 | 2853 | &nbsp;&nbsp; 24753 | &nbsp;&nbsp; 5295 | &nbsp;&nbsp; 45399 |
| Class R2 | 131285 | &nbsp;&nbsp; 1139017 | &nbsp;&nbsp; 150359 | &nbsp;&nbsp; 1289103 |
| Class R3 | 74448 | &nbsp;&nbsp; 646441 | &nbsp;&nbsp; 97834 | &nbsp;&nbsp; 839258 |
| Class R4 | 25894 | &nbsp;&nbsp; 224885 | &nbsp;&nbsp; 41273 | &nbsp;&nbsp; 353336 |
| Class R6 | 5577099 | &nbsp;&nbsp; 48401072 | &nbsp;&nbsp; 5975361 | &nbsp;&nbsp; 51225878 |
|  | 8184415 | &nbsp;&nbsp; $71037669 | &nbsp;&nbsp; 9228126 | &nbsp;&nbsp; $79103182 |
| Shares reacquired |  |  |  |  |
| Class A | (9523965)<br>| &nbsp;&nbsp; $(82561643)<br>| &nbsp;&nbsp; (12328455)<br>| &nbsp;&nbsp; $(105599308)<br>|
| Class B | (36960)<br>| &nbsp;&nbsp; (319576)<br>| &nbsp;&nbsp; (61553)<br>| &nbsp;&nbsp; (524913)<br>|
| Class C | (102535)<br>| &nbsp;&nbsp; (888506)<br>| &nbsp;&nbsp; (161510)<br>| &nbsp;&nbsp; (1387313)<br>|
| Class I | (6766118)<br>| &nbsp;&nbsp; (58621561)<br>| &nbsp;&nbsp; (23735153)<br>| &nbsp;&nbsp; (202342985)<br>|
| Class R1 | (96552)<br>| &nbsp;&nbsp; (834095)<br>| &nbsp;&nbsp; (30431)<br>| &nbsp;&nbsp; (257944)<br>|
| Class R2 | (1666971)<br>| &nbsp;&nbsp; (14441012)<br>| &nbsp;&nbsp; (1443338)<br>| &nbsp;&nbsp; (12340793)<br>|
| Class R3 | (1010374)<br>| &nbsp;&nbsp; (8780997)<br>| &nbsp;&nbsp; (1315795)<br>| &nbsp;&nbsp; (11259772)<br>|
| Class R4 | (607633)<br>| &nbsp;&nbsp; (5262957)<br>| &nbsp;&nbsp; (3362212)<br>| &nbsp;&nbsp; (28717010)<br>|
| Class R6 | (21616306)<br>| &nbsp;&nbsp; (187031863)<br>| &nbsp;&nbsp; (15702514)<br>| &nbsp;&nbsp; (134655975)<br>|
|  | (41427414)<br>| &nbsp;&nbsp; $(358742210)<br>| &nbsp;&nbsp; (58140961)<br>| &nbsp;&nbsp; $(497086013)<br>|
| Net change |  |  |  |  |
| Class A | (5016720)<br>| &nbsp;&nbsp; $(43468912)<br>| &nbsp;&nbsp; (6178565)<br>| &nbsp;&nbsp; $(52820333)<br>|
| Class B | (35363)<br>| &nbsp;&nbsp; (305755)<br>| &nbsp;&nbsp; (47812)<br>| &nbsp;&nbsp; (405406)<br>|
| Class C | 54929 | &nbsp;&nbsp; 480574 | &nbsp;&nbsp; (97471)<br>| &nbsp;&nbsp; (836264)<br>|
| Class I | 2076340 | &nbsp;&nbsp; 17880786 | &nbsp;&nbsp; (14892642)<br>| &nbsp;&nbsp; (126671436)<br>|
| Class R1 | (84947)<br>| &nbsp;&nbsp; (733403)<br>| &nbsp;&nbsp; (13076)<br>| &nbsp;&nbsp; (109092)<br>|
| Class R2 | (489238)<br>| &nbsp;&nbsp; (4252424)<br>| &nbsp;&nbsp; 51641 | &nbsp;&nbsp; 434782 |
| Class R3 | (393363)<br>| &nbsp;&nbsp; (3426629)<br>| &nbsp;&nbsp; (280653)<br>| &nbsp;&nbsp; (2391265)<br>|
| Class R4 | 110804 | &nbsp;&nbsp; 961242 | &nbsp;&nbsp; (2297182)<br>| &nbsp;&nbsp; (19579555)<br>|
| Class R6 | 1427824 | &nbsp;&nbsp; 12548740 | &nbsp;&nbsp; 3718133 | &nbsp;&nbsp; 31421092 |
|  | (2349734)<br>| &nbsp;&nbsp; $(20315781)<br>| &nbsp;&nbsp; (20037627)<br>| &nbsp;&nbsp; $(170957477)<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 Moderate Allocation Fund, the MFS Conservative Allocation Fund, the MFS Lifetime 2030 Fund, the MFS Lifetime 2035 Fund, the MFS Lifetime Income Fund, and the MFS Lifetime 2025 Fund were the owners of record of approximately 32%, 18%, 4%, 3%, 3%, and 2%, respectively, of the value of outstanding voting shares of the fund. In addition, the MFS Lifetime 2040 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.

------

MFS Government Securities Fund

*Notes to Financial Statements - continued* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(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), 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 11, 2027 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 year ended February 28, 2026, the fund's commitment fee and interest expense were $8,783 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 year ended February 28, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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 | $24511411 | $1283076318 | $1241234213 | $(6655)<br>| $4545 | $66351406 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; $6481655 | $— |

---

------

MFS Government Securities Fund

**Report of Independent Registered Public Accounting Firm**

To the Board of Trustees of MFS Series Trust XIII and the Shareholders of MFS Government Securities Fund:

**Opinion on the Financial Statements and Financial Highlights**

We have audited the accompanying statement of assets and liabilities of MFS Government Securities Fund (the "Fund"), including the portfolio of investments, as of February 28, 2026, the related statement of operations for the year then ended, statements of changes in net assets for each of the two years in the period then ended, financial highlights for each of the five years in the period then ended, and the related notes (collectively referred to as the "financial statements and financial highlights"). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of February 28, 2026, and the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements and financial highlights are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of February 28, 2026, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

DELOITTE & TOUCHE LLP

Boston, Massachusetts

April 15, 2026

We have served as the auditor of one or more of the MFS investment companies since 1924.

------

MFS Government Securities Fund

Federal Tax Information (unaudited)

The fund will notify shareholders of amounts for use in preparing 2026 income tax forms in January 2027. The following information is provided pursuant to provisions of the Internal Revenue Code.

The fund intends to pass through the maximum amount allowable as Section 163(j) Interest Dividends as defined in Treasury Regulation §1.163(j)-1(b).

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Government Securities Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS Government Securities 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 Government Securities 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.**

Not Applicable.

------

MFS New Discovery Value Fund

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

MFS New Discovery Value Fund

**Portfolio of Investments - 2/28/26** 

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 – 98.6% | Common Stocks – 98.6% | Common Stocks – 98.6% |
| Aerospace & Defense – 1.7% | Aerospace & Defense – 1.7% |  |
| Hexcel Corp. | 183406 | &nbsp;&nbsp; $16999902 |
| Mirion Technologies, Inc. (a) | 579161 | &nbsp;&nbsp; 12515669 |
| Standard Aero, Inc. (a) | 557915 | &nbsp;&nbsp; 17183782 |
|  |  | &nbsp;&nbsp; $46699353 |
| Airlines – 0.5% | Airlines – 0.5% |  |
| Alaska Air Group, Inc. (a) | 295156 | &nbsp;&nbsp; $15230050 |
| Apparel Manufacturers – 0.9% | Apparel Manufacturers – 0.9% |  |
| Columbia Sportswear Co. | 217745 | &nbsp;&nbsp; $13487126 |
| Wolverine World Wide, Inc. | 626766 | &nbsp;&nbsp; 11074955 |
|  |  | &nbsp;&nbsp; $24562081 |
| Automotive – 2.8% | Automotive – 2.8% |  |
| Atmus Filtration Technologies, Inc. | 474225 | &nbsp;&nbsp; $30601739 |
| Goodyear Tire & Rubber Co. (a) | 1789522 | &nbsp;&nbsp; 14763557 |
| Group 1 Automotive, Inc. | 35336 | &nbsp;&nbsp; 11510349 |
| Visteon Corp. | 194741 | &nbsp;&nbsp; 18630871 |
|  |  | &nbsp;&nbsp; $75506516 |
| Broadcasting – 1.1% | Broadcasting – 1.1% |  |
| Nexstar Media Group, Inc. | 125104 | &nbsp;&nbsp; $31403606 |
| Brokerage & Asset Managers – 0.9% | Brokerage & Asset Managers – 0.9% |  |
| Bullish (a)(l) | 266331 | &nbsp;&nbsp; $8360130 |
| P10, Inc. | 1900235 | &nbsp;&nbsp; 15334897 |
|  |  | &nbsp;&nbsp; $23695027 |
| Business Services – 0.3% | Business Services – 0.3% |  |
| NCR Atleos Corp. (a) | 166600 | &nbsp;&nbsp; $7377048 |
| Chemicals – 2.3% | Chemicals – 2.3% |  |
| Avient Corp. | 669533 | &nbsp;&nbsp; $27497720 |
| Element Solutions, Inc. | 1053694 | &nbsp;&nbsp; 36974123 |
|  |  | &nbsp;&nbsp; $64471843 |
| Computer Software – 1.0% | Computer Software – 1.0% |  |
| ACI Worldwide, Inc. (a) | 477763 | &nbsp;&nbsp; $18957636 |
| nCino, Inc. (a) | 507914 | &nbsp;&nbsp; 8197732 |
|  |  | &nbsp;&nbsp; $27155368 |
| Computer Software - Systems – 1.2% | Computer Software - Systems – 1.2% |  |
| Digi International, Inc. (a) | 394091 | &nbsp;&nbsp; $19239523 |
| Insight Enterprises, Inc. (a) | 163066 | &nbsp;&nbsp; 13625795 |
|  |  | &nbsp;&nbsp; $32865318 |

---

NDVFS-ANN

------

MFS New Discovery Value Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Construction – 2.8% | Construction – 2.8% |  |
| Independence Realty Trust, Inc., REIT | 1607642 | &nbsp;&nbsp; $26638628 |
| M/I Homes, Inc. (a) | 176162 | &nbsp;&nbsp; 25043190 |
| Smith Douglas Homes Corp. (a) | 232891 | &nbsp;&nbsp; 3656389 |
| Taylor Morrison Home Corp. (a) | 318123 | &nbsp;&nbsp; 20961124 |
|  |  | &nbsp;&nbsp; $76299331 |
| Consumer Products – 1.5% | Consumer Products – 1.5% |  |
| Newell Brands, Inc. | 2608300 | &nbsp;&nbsp; $11867765 |
| Prestige Consumer Healthcare, Inc. (a) | 404438 | &nbsp;&nbsp; 28027553 |
|  |  | &nbsp;&nbsp; $39895318 |
| Consumer Services – 1.3% | Consumer Services – 1.3% |  |
| Adtalem Global Education, Inc. (a) | 141800 | &nbsp;&nbsp; $13896400 |
| Grand Canyon Education, Inc. (a) | 79506 | &nbsp;&nbsp; 12647019 |
| Phoenix Education Partners, Inc. | 348013 | &nbsp;&nbsp; 10301185 |
|  |  | &nbsp;&nbsp; $36844604 |
| Containers – 1.4% | Containers – 1.4% |  |
| Graphic Packaging Holding Co. | 806967 | &nbsp;&nbsp; $9869206 |
| Silgan Holdings, Inc. | 595931 | &nbsp;&nbsp; 28634485 |
|  |  | &nbsp;&nbsp; $38503691 |
| Electrical Equipment – 3.8% | Electrical Equipment – 3.8% |  |
| Belden, Inc. | 94200 | &nbsp;&nbsp; $13498860 |
| Itron, Inc. (a) | 152857 | &nbsp;&nbsp; 14360915 |
| nVent Electric PLC | 129073 | &nbsp;&nbsp; 15277080 |
| Resideo Technologies, Inc. (a) | 369472 | &nbsp;&nbsp; 14298566 |
| TriMas Corp. | 482580 | &nbsp;&nbsp; 18859227 |
| Vontier Corp. | 680106 | &nbsp;&nbsp; 27829938 |
|  |  | &nbsp;&nbsp; $104124586 |
| Electronics – 4.6% | Electronics – 4.6% |  |
| Advanced Energy Industries, Inc. | 88760 | &nbsp;&nbsp; $29785193 |
| Bel Fuse, Inc. | 89228 | &nbsp;&nbsp; 20496564 |
| Formfactor, Inc. (a) | 288220 | &nbsp;&nbsp; 28499194 |
| Plexus Corp. (a) | 121977 | &nbsp;&nbsp; 23679395 |
| TTM Technologies, Inc. (a) | 235602 | &nbsp;&nbsp; 24559152 |
|  |  | &nbsp;&nbsp; $127019498 |
| Energy - Independent – 4.4% | Energy - Independent – 4.4% |  |
| Antero Resources Corp. (a) | 642275 | &nbsp;&nbsp; $23642143 |
| Core Natural Resources, Inc. | 176552 | &nbsp;&nbsp; 14491388 |
| Matador Resources Co. | 443174 | &nbsp;&nbsp; 22779144 |
| Peabody Energy Corp. | 536805 | &nbsp;&nbsp; 16930830 |
| Permian Resources Corp. | 1414117 | &nbsp;&nbsp; 25864200 |
| Viper Energy, Inc., "A" | 390949 | &nbsp;&nbsp; 18194766 |
|  |  | &nbsp;&nbsp; $121902471 |
| Engineering - Construction – 1.5% | Engineering - Construction – 1.5% |  |
| Legence Corp., "A" (a) | 420922 | &nbsp;&nbsp; $24434522 |
| MYR Group, Inc. (a) | 59824 | &nbsp;&nbsp; 16150087 |
|  |  | &nbsp;&nbsp; $40584609 |

---

------

MFS New Discovery Value Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Food & Beverages – 0.9% | Food & Beverages – 0.9% |  |
| Nomad Foods Ltd. | 1499431 | &nbsp;&nbsp; $16448758 |
| Utz Brands, Inc. | 992404 | &nbsp;&nbsp; 9219433 |
|  |  | &nbsp;&nbsp; $25668191 |
| Forest & Paper Products – 0.5% | Forest & Paper Products – 0.5% |  |
| International Paper Co. | 311124 | &nbsp;&nbsp; $13549450 |
| Gaming & Lodging – 0.5% | Gaming & Lodging – 0.5% |  |
| Brightstar Lottery PLC | 965777 | &nbsp;&nbsp; $13095936 |
| Insurance – 3.7% | Insurance – 3.7% |  |
| AXIS Capital Holdings Ltd. | 202953 | &nbsp;&nbsp; $21456191 |
| Hanover Insurance Group, Inc. | 117378 | &nbsp;&nbsp; 21201988 |
| Lincoln National Corp. | 556668 | &nbsp;&nbsp; 19093713 |
| Selective Insurance Group, Inc. | 251022 | &nbsp;&nbsp; 21095889 |
| Stewart Information Services Corp. | 248665 | &nbsp;&nbsp; 17652728 |
|  |  | &nbsp;&nbsp; $100500509 |
| Leisure & Toys – 1.3% | Leisure & Toys – 1.3% |  |
| Brunswick Corp. | 228048 | &nbsp;&nbsp; $18157182 |
| Patrick Industries, Inc. | 149742 | &nbsp;&nbsp; 18536562 |
|  |  | &nbsp;&nbsp; $36693744 |
| Machinery & Tools – 7.5% | Machinery & Tools – 7.5% |  |
| Albany International Corp. | 429072 | &nbsp;&nbsp; $24736001 |
| Alliance Laundry Holdings, Inc. (a) | 505392 | &nbsp;&nbsp; 11335942 |
| ESAB Corp. | 185542 | &nbsp;&nbsp; 23409834 |
| Flowserve Corp. | 293055 | &nbsp;&nbsp; 25941229 |
| Hayward Holdings, Inc. (a) | 1471113 | &nbsp;&nbsp; 23537808 |
| Herc Holdings, Inc. | 108121 | &nbsp;&nbsp; 15114235 |
| Hillman Solutions Corp. (a) | 2469509 | &nbsp;&nbsp; 20249974 |
| Kadant, Inc. | 44956 | &nbsp;&nbsp; 15247726 |
| Regal Rexnord Corp. | 63050 | &nbsp;&nbsp; 13932789 |
| Timken Co. | 294593 | &nbsp;&nbsp; 31927989 |
|  |  | &nbsp;&nbsp; $205433527 |
| Major Banks – 0.4% | Major Banks – 0.4% |  |
| Simmons First National Corp. | 620577 | &nbsp;&nbsp; $12355688 |
| Medical & Health Technology & Services – 1.7% | Medical & Health Technology & Services – 1.7% |  |
| Azenta, Inc. (a) | 490192 | &nbsp;&nbsp; $13225380 |
| ICON PLC (a) | 115778 | &nbsp;&nbsp; 12520233 |
| Option Care Health, Inc. (a) | 629443 | &nbsp;&nbsp; 20431720 |
|  |  | &nbsp;&nbsp; $46177333 |
| Medical Equipment – 3.6% | Medical Equipment – 3.6% |  |
| Billiontoone, Inc., "A" (a)(l) | 58306 | &nbsp;&nbsp; $4450497 |
| Concentra Group Holdings, Inc. | 1046095 | &nbsp;&nbsp; 25064436 |
| Envista Holdings Corp. (a) | 862490 | &nbsp;&nbsp; 25193333 |
| Integer Holdings Corp. (a) | 254738 | &nbsp;&nbsp; 22080690 |
| Lumexa Imaging Holdings, Inc. (a) | 920672 | &nbsp;&nbsp; 13018302 |

---

------

MFS New Discovery Value Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Medical Equipment – continued | Medical Equipment – continued |  |
| UFP Technologies, Inc. (a) | 43356 | &nbsp;&nbsp; $9129907 |
|  |  | &nbsp;&nbsp; $98937165 |
| Natural Gas - Distribution – 4.7% | Natural Gas - Distribution – 4.7% |  |
| Brookfield Infrastructure Corp. (l) | 414479 | &nbsp;&nbsp; $20674213 |
| MDU Resources Group, Inc. | 619076 | &nbsp;&nbsp; 12802492 |
| New Jersey Resources Corp. | 474350 | &nbsp;&nbsp; 25728744 |
| ONE Gas, Inc. | 281638 | &nbsp;&nbsp; 24626427 |
| Spire, Inc. | 312589 | &nbsp;&nbsp; 28636278 |
| UGI Corp. | 459201 | &nbsp;&nbsp; 17178709 |
|  |  | &nbsp;&nbsp; $129646863 |
| Natural Gas - Pipeline – 1.3% | Natural Gas - Pipeline – 1.3% |  |
| Plains GP Holdings LP | 1549355 | &nbsp;&nbsp; $34922462 |
| Oil Services – 2.1% | Oil Services – 2.1% |  |
| Expro Group Holdings N.V. (a) | 1667963 | &nbsp;&nbsp; $29789819 |
| TechnipFMC PLC | 430236 | &nbsp;&nbsp; 28528949 |
|  |  | &nbsp;&nbsp; $58318768 |
| Other Banks & Diversified Financials – 17.2% | Other Banks & Diversified Financials – 17.2% |  |
| BancFirst Corp. | 148282 | &nbsp;&nbsp; $16311020 |
| Berkshire Hills Bancorp, Inc. | 717050 | &nbsp;&nbsp; 21325067 |
| Cathay General Bancorp, Inc. | 594167 | &nbsp;&nbsp; 29536042 |
| Central Banco, Inc. | 883894 | &nbsp;&nbsp; 21346040 |
| Columbia Banking System, Inc. | 1127654 | &nbsp;&nbsp; 32081756 |
| CVB Financial Corp. | 1291404 | &nbsp;&nbsp; 24833699 |
| East West Bancorp, Inc. | 187312 | &nbsp;&nbsp; 20501298 |
| Eastern Bankshares, Inc. | 1393869 | &nbsp;&nbsp; 27264078 |
| First Hawaiian, Inc. | 1205849 | &nbsp;&nbsp; 29856821 |
| First Interstate BancSystem, Inc. | 924549 | &nbsp;&nbsp; 31998641 |
| Hancock Whitney Corp. | 459403 | &nbsp;&nbsp; 30233311 |
| Popular, Inc. | 232077 | &nbsp;&nbsp; 31413943 |
| Prosperity Bancshares, Inc. | 496584 | &nbsp;&nbsp; 34944616 |
| Riot Platforms, Inc. (a) | 1682698 | &nbsp;&nbsp; 27411150 |
| SLM Corp. | 768631 | &nbsp;&nbsp; 14404145 |
| Texas Capital Bancshares, Inc. (a) | 263603 | &nbsp;&nbsp; 25121366 |
| UMB Financial Corp. | 202993 | &nbsp;&nbsp; 23522829 |
| United Community Bank, Inc. | 860435 | &nbsp;&nbsp; 27680194 |
|  |  | &nbsp;&nbsp; $469786016 |
| Pharmaceuticals – 3.4% | Pharmaceuticals – 3.4% |  |
| ACADIA Pharmaceuticals, Inc. (a) | 697069 | &nbsp;&nbsp; $17120014 |
| Collegium Pharmaceutical, Inc. (a) | 395816 | &nbsp;&nbsp; 16493653 |
| Ionis Pharmaceuticals, Inc. (a) | 204801 | &nbsp;&nbsp; 16619601 |
| Ligand Pharmaceuticals, Inc. (a) | 124113 | &nbsp;&nbsp; 24612849 |
| Mirum Pharmaceuticals, Inc. (a) | 193365 | &nbsp;&nbsp; 17845656 |
|  |  | &nbsp;&nbsp; $92691773 |
| Precious Metals & Minerals – 1.2% | Precious Metals & Minerals – 1.2% |  |
| OR Royalties, Inc. | 683341 | &nbsp;&nbsp; $32383530 |

---

------

MFS New Discovery Value Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued | Common Stocks – continued | Common Stocks – continued |
| Railroad & Shipping – 0.6% | Railroad & Shipping – 0.6% |  |
| Kirby Corp. (a) | 126123 | &nbsp;&nbsp; $16370765 |
| Real Estate – 4.4% | Real Estate – 4.4% |  |
| Acadia Realty Trust, REIT | 1147953 | &nbsp;&nbsp; $24015177 |
| Cushman & Wakefield Ltd. (a) | 1214291 | &nbsp;&nbsp; 16283642 |
| Essential Properties Realty Trust, REIT | 828851 | &nbsp;&nbsp; 28131203 |
| Four Corners Property Trust, Inc., REIT | 715034 | &nbsp;&nbsp; 18247667 |
| PennyMac Financial Services, Inc. | 147776 | &nbsp;&nbsp; 13585048 |
| Urban Edge Properties, REIT | 934848 | &nbsp;&nbsp; 19865520 |
|  |  | &nbsp;&nbsp; $120128257 |
| Real Estate - Office – 1.1% | Real Estate - Office – 1.1% |  |
| Cousins Properties, Inc., REIT | 794571 | &nbsp;&nbsp; $18402264 |
| Douglas Emmett, Inc., REIT | 1155848 | &nbsp;&nbsp; 11431337 |
|  |  | &nbsp;&nbsp; $29833601 |
| Real Estate - Storage – 1.4% | Real Estate - Storage – 1.4% |  |
| Rexford Industrial Realty, Inc., REIT | 519777 | &nbsp;&nbsp; $19476044 |
| SmartStop Self Storage REIT | 546773 | &nbsp;&nbsp; 18234880 |
|  |  | &nbsp;&nbsp; $37710924 |
| Restaurants – 0.8% | Restaurants – 0.8% |  |
| Chefs' Warehouse, Inc. (a) | 298754 | &nbsp;&nbsp; $21328048 |
| Specialty Chemicals – 2.2% | Specialty Chemicals – 2.2% |  |
| Ashland, Inc. | 339614 | &nbsp;&nbsp; $21178329 |
| Chemours Co. | 818191 | &nbsp;&nbsp; 14923804 |
| Quaker Chemical Corp. | 160312 | &nbsp;&nbsp; 23570673 |
|  |  | &nbsp;&nbsp; $59672806 |
| Specialty Stores – 0.5% | Specialty Stores – 0.5% |  |
| Pet Valu Holdings Ltd. | 625640 | &nbsp;&nbsp; $13067324 |
| Telecom Services – 1.0% | Telecom Services – 1.0% |  |
| EchoStar Corp., "A" (a) | 232566 | &nbsp;&nbsp; $26868350 |
| Trucking – 0.4% | Trucking – 0.4% |  |
| RXO, Inc. (a) | 613237 | &nbsp;&nbsp; $9787263 |
| Utilities - Electric Power – 2.2% | Utilities - Electric Power – 2.2% |  |
| NorthWestern Corp. | 391698 | &nbsp;&nbsp; $27403192 |
| Portland General Electric Co. | 602990 | &nbsp;&nbsp; 32537340 |
|  |  | &nbsp;&nbsp; $59940532 |
| **Total Common Stocks (Identified Cost, $2,117,028,828)** |  | &nbsp;&nbsp; **$2699009143** |
| Mutual Funds (h) – 0.1% | Mutual Funds (h) – 0.1% | Mutual Funds (h) – 0.1% |
| Money Market Funds – 0.1% | Money Market Funds – 0.1% |  |
| MFS Institutional Money Market Portfolio, 3.7% (v) (Identified Cost, $2,381,565) | 2381327 | &nbsp;&nbsp; $2381565 |

---

------

MFS New Discovery Value Fund

*Portfolio of Investments – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Collateral for Securities Loaned – 1.1% | Collateral for Securities Loaned – 1.1% | Collateral for Securities Loaned – 1.1% |
| JPMorgan U.S. Government Money Market Fund - Class IM Shares, 3.61% (j) (Identified Cost, $30,968,720) | 30968720 | &nbsp;&nbsp; $30968720 |
| Other Assets, Less Liabilities – 0.2% |  | &nbsp;&nbsp; 4999418 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$2737358846** |

---

&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 $2,381,565 and $2,729,977,863, 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> REIT Real Estate Investment Trust

**See Notes to Financial Statements**

------

MFS New Discovery 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 2/28/26** <br> **Assets**<br>|  |
| Investments in unaffiliated issuers, at value, including $30,126,604 of securities on loan (identified cost, $2,147,997,548) | &nbsp;&nbsp; $2729977863 |
| Investments in affiliated issuers, at value (identified cost, $2,381,565) | &nbsp;&nbsp; 2381565 |
| Receivables for |  |
| Investments sold | &nbsp;&nbsp; 31429477 |
| Fund shares sold | &nbsp;&nbsp; 4900897 |
| Interest and dividends | &nbsp;&nbsp; 2517576 |
| Other assets | &nbsp;&nbsp; 5152 |
| Total assets | &nbsp;&nbsp; $2771212530 |
| **Liabilities** |  |
| Payables for |  |
| Fund shares reacquired | &nbsp;&nbsp; $2139075 |
| Collateral for securities loaned, at value | &nbsp;&nbsp; 30968720 |
| Payable to affiliates |  |
| Investment adviser | &nbsp;&nbsp; 186034 |
| Administrative services fee | &nbsp;&nbsp; 3153 |
| Shareholder servicing costs | &nbsp;&nbsp; 350732 |
| Distribution and service fees | &nbsp;&nbsp; 10249 |
| Payable for independent Trustees' compensation | &nbsp;&nbsp; 13 |
| Accrued expenses and other liabilities | &nbsp;&nbsp; 195708 |
| Total liabilities | &nbsp;&nbsp; $33853684 |
| Net assets | &nbsp;&nbsp; $2737358846 |
| **Net assets consist of** |  |
| Paid-in capital | &nbsp;&nbsp; $2110914092 |
| Total distributable earnings (loss) | &nbsp;&nbsp; 626444754 |
| Net assets | &nbsp;&nbsp; $2737358846 |
| Shares of beneficial interest outstanding | &nbsp;&nbsp; 150984246 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | &nbsp;&nbsp; **Shares** <br>**outstanding**<br>| &nbsp;&nbsp; **Net asset value** <br>**per share (a)**<br>|
| Class A | &nbsp;&nbsp;&nbsp; $245208556 | &nbsp;&nbsp;&nbsp; 13692814 | &nbsp;&nbsp;&nbsp; $17.91 |
| Class B | &nbsp;&nbsp;&nbsp; 615273 | &nbsp;&nbsp;&nbsp; 37315 | &nbsp;&nbsp;&nbsp;&nbsp;16.49 |
| Class C | &nbsp;&nbsp;&nbsp; 9046760 | &nbsp;&nbsp;&nbsp; 555078 | &nbsp;&nbsp;&nbsp;&nbsp;16.30 |
| Class I | &nbsp;&nbsp;&nbsp; 832362200 | &nbsp;&nbsp;&nbsp; 45899639 | &nbsp;&nbsp;&nbsp;&nbsp;18.13 |
| Class R1 | &nbsp;&nbsp;&nbsp; 2114793 | &nbsp;&nbsp;&nbsp; 129301 | &nbsp;&nbsp;&nbsp;&nbsp;16.36 |
| Class R2 | &nbsp;&nbsp;&nbsp; 3867815 | &nbsp;&nbsp;&nbsp; 218956 | &nbsp;&nbsp;&nbsp;&nbsp;17.66 |
| Class R3 | &nbsp;&nbsp;&nbsp; 192614173 | &nbsp;&nbsp;&nbsp; 10731134 | &nbsp;&nbsp;&nbsp;&nbsp;17.95 |
| Class R4 | &nbsp;&nbsp;&nbsp; 64256392 | &nbsp;&nbsp;&nbsp; 3535690 | &nbsp;&nbsp;&nbsp;&nbsp;18.17 |
| Class R6 | &nbsp;&nbsp;&nbsp; 1387272884 | &nbsp;&nbsp;&nbsp; 76184319 | &nbsp;&nbsp;&nbsp;&nbsp;18.21 |

---

&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 $19.00 [100 / 94.25 x $17.91]. 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 New Discovery 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.

---

| | |
|:---|:---|
| **Year ended 2/28/26** <br> **Net investment income (loss)**<br>|  |
| Income |  |
| Dividends from unaffiliated issuers | &nbsp;&nbsp; $52898893 |
| Dividends from affiliated issuers | &nbsp;&nbsp; 1286937 |
| Other | &nbsp;&nbsp; 249087 |
| Income on securities loaned | &nbsp;&nbsp; 247667 |
| Foreign taxes withheld | &nbsp;&nbsp; (262147)<br>|
| Total investment income | &nbsp;&nbsp; $54420437 |
| Expenses |  |
| Management fee | &nbsp;&nbsp; $22959495 |
| Distribution and service fees | &nbsp;&nbsp; 1249768 |
| Shareholder servicing costs | &nbsp;&nbsp; 1552673 |
| Administrative services fee | &nbsp;&nbsp; 362466 |
| Independent Trustees' compensation | &nbsp;&nbsp; 59654 |
| Custodian fee | &nbsp;&nbsp; 128791 |
| Shareholder communications | &nbsp;&nbsp; 188665 |
| Audit and tax fees | &nbsp;&nbsp; 72714 |
| Legal fees | &nbsp;&nbsp; 15373 |
| Miscellaneous | &nbsp;&nbsp; 275374 |
| Total expenses | &nbsp;&nbsp; $26864973 |
| Reduction of expenses by investment adviser and distributor | &nbsp;&nbsp; (381710)<br>|
| Net expenses | &nbsp;&nbsp; $26483263 |
| Net investment income (loss) | &nbsp;&nbsp; $27937174 |
| **Realized and unrealized gain (loss)** | **Realized and unrealized gain (loss)** |
| Realized gain (loss) (identified cost basis) |  |
| Unaffiliated issuers | &nbsp;&nbsp; $264346111 |
| Affiliated issuers | &nbsp;&nbsp; 2858 |
| Foreign currency | &nbsp;&nbsp; 9865 |
| Net realized gain (loss) | &nbsp;&nbsp; $264358834 |
| Change in unrealized appreciation or depreciation |  |
| Unaffiliated issuers | &nbsp;&nbsp; $(19760489)<br>|
| Affiliated issuers | &nbsp;&nbsp; (299)<br>|
| Net unrealized gain (loss) | &nbsp;&nbsp; $(19760788)<br>|
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; $244598046 |
| Change in net assets from operations | &nbsp;&nbsp; $272535220 |

---

**See Notes to Financial Statements**

------

MFS New Discovery 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.

---

| | | |
|:---|:---|:---|
|  | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** |
| **Change in net assets** |  |  |
| **From operations** |  |  |
| Net investment income (loss) | $27937174 | &nbsp;&nbsp; $44670498 |
| Net realized gain (loss) | 264358834 | &nbsp;&nbsp; 260889781 |
| Net unrealized gain (loss) | (19760788)<br>| &nbsp;&nbsp; 31515077 |
| Change in net assets from operations | $272535220 | &nbsp;&nbsp; $337075356 |
| Total distributions to shareholders | $(271323939)<br>| &nbsp;&nbsp; $(210434041)<br>|
| Change in net assets from fund share transactions | $(482146563)<br>| &nbsp;&nbsp; $(338148864)<br>|
| Total change in net assets | $(480935282)<br>| &nbsp;&nbsp; $(211507549)<br>|
| **Net assets** |  |  |
| At beginning of period | 3218294128 | &nbsp;&nbsp; 3429801677 |
| At end of period | $2737358846 | &nbsp;&nbsp; $3218294128 |

---

**See Notes to Financial Statements**

------

MFS New Discovery Value Fund

**Financial Statements** \| **Financial Highlights**

The financial highlights table is intended to help you understand the fund's financial performance for the past 5 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**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $17.90 | &nbsp;&nbsp; $17.28 | &nbsp;&nbsp; $18.03 | &nbsp;&nbsp; $20.03 | &nbsp;&nbsp; $18.53 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.13 | &nbsp;&nbsp; $0.19 | &nbsp;&nbsp; $0.16 | &nbsp;&nbsp; $0.12 | &nbsp;&nbsp; $0.05 |
| Net realized and unrealized gain (loss) | 1.65 | &nbsp;&nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp; (0.77)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.32 |
| Total from investment operations | $1.78 | &nbsp;&nbsp; $1.77 | &nbsp;&nbsp; $0.31 | &nbsp;&nbsp; $(0.65)<br>| &nbsp;&nbsp; $3.37 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.19)<br>| &nbsp;&nbsp; $(0.29)<br>| &nbsp;&nbsp; $(0.18)<br>| &nbsp;&nbsp; $(0.23)<br>| &nbsp;&nbsp; $(0.15)<br>|
| From net realized gain | (1.58)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp; (1.72)<br>|
| Total distributions declared to shareholders | $(1.77)<br>| &nbsp;&nbsp; $(1.15)<br>| &nbsp;&nbsp; $(1.06)<br>| &nbsp;&nbsp; $(1.35)<br>| &nbsp;&nbsp; $(1.87)<br>|
| Net asset value, end of period (x) | $17.91 | &nbsp;&nbsp; $17.90 | &nbsp;&nbsp; $17.28 | &nbsp;&nbsp; $18.03 | &nbsp;&nbsp; $20.03 |
| Total return (%) (r)(s)(t)(x) | 10.86 | &nbsp;&nbsp;&nbsp;&nbsp;9.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.96 | &nbsp;&nbsp; (2.88)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18.34 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions | 1.23 | &nbsp;&nbsp;&nbsp;&nbsp;1.21 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 |
| Expenses after expense reductions | 1.21 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.18 | &nbsp;&nbsp;&nbsp;&nbsp;1.18 |
| Net investment income (loss) | 0.75 | &nbsp;&nbsp;&nbsp;&nbsp;1.05 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.25 |
| Portfolio turnover rate | 47 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 44 |
| Net assets at end of period (000 omitted) | $245209 | &nbsp;&nbsp; $268230 | &nbsp;&nbsp; $275255 | &nbsp;&nbsp; $306254 | &nbsp;&nbsp; $361165 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class B**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $16.59 | &nbsp;&nbsp; $16.07 | &nbsp;&nbsp; $16.83 | &nbsp;&nbsp; $18.77 | &nbsp;&nbsp; $17.54 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.01 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.04 | &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $(0.09)<br>|
| Net realized and unrealized gain (loss) | 1.50 | &nbsp;&nbsp;&nbsp;&nbsp;1.45 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.13 |
| Total from investment operations | $1.51 | &nbsp;&nbsp; $1.51 | &nbsp;&nbsp; $0.16 | &nbsp;&nbsp; $(0.74)<br>| &nbsp;&nbsp; $3.04 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.03)<br>| &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.04)<br>| &nbsp;&nbsp; $(0.08)<br>| &nbsp;&nbsp; $(0.09)<br>|
| From net realized gain | (1.58)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp; (1.72)<br>|
| Total distributions declared to shareholders | $(1.61)<br>| &nbsp;&nbsp; $(0.99)<br>| &nbsp;&nbsp; $(0.92)<br>| &nbsp;&nbsp; $(1.20)<br>| &nbsp;&nbsp; $(1.81)<br>|
| Net asset value, end of period (x) | $16.49 | &nbsp;&nbsp; $16.59 | &nbsp;&nbsp; $16.07 | &nbsp;&nbsp; $16.83 | &nbsp;&nbsp; $18.77 |
| Total return (%) (r)(s)(t)(x) | 10.02 | &nbsp;&nbsp;&nbsp;&nbsp;9.04 | &nbsp;&nbsp;&nbsp;&nbsp;1.21 | &nbsp;&nbsp; (3.61)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.45 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions | 1.98 | &nbsp;&nbsp;&nbsp;&nbsp;1.96 | &nbsp;&nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 |
| Expenses after expense reductions | 1.96 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;1.93 | &nbsp;&nbsp;&nbsp;&nbsp;1.93 |
| Net investment income (loss) | 0.07 | &nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.49)<br>|
| Portfolio turnover rate | 47 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 44 |
| Net assets at end of period (000 omitted) | $615 | &nbsp;&nbsp; $1567 | &nbsp;&nbsp; $2834 | &nbsp;&nbsp; $4023 | &nbsp;&nbsp; $6016 |

---

**See Notes to Financial Statements**

------

MFS New Discovery Value Fund

*Financial Highlights - continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class C**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $16.44 | &nbsp;&nbsp; $15.94 | &nbsp;&nbsp; $16.70 | &nbsp;&nbsp; $18.66 | &nbsp;&nbsp; $17.45 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.01 | &nbsp;&nbsp; $0.06 | &nbsp;&nbsp; $0.04 | &nbsp;&nbsp; $(0.02)<br>| &nbsp;&nbsp; $(0.09)<br>|
| Net realized and unrealized gain (loss) | 1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.44 | &nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp; (0.72)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.11 |
| Total from investment operations | $1.50 | &nbsp;&nbsp; $1.50 | &nbsp;&nbsp; $0.17 | &nbsp;&nbsp; $(0.74)<br>| &nbsp;&nbsp; $3.02 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.06)<br>| &nbsp;&nbsp; $(0.14)<br>| &nbsp;&nbsp; $(0.05)<br>| &nbsp;&nbsp; $(0.10)<br>| &nbsp;&nbsp; $(0.09)<br>|
| From net realized gain | (1.58)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp; (1.72)<br>|
| Total distributions declared to shareholders | $(1.64)<br>| &nbsp;&nbsp; $(1.00)<br>| &nbsp;&nbsp; $(0.93)<br>| &nbsp;&nbsp; $(1.22)<br>| &nbsp;&nbsp; $(1.81)<br>|
| Net asset value, end of period (x) | $16.30 | &nbsp;&nbsp; $16.44 | &nbsp;&nbsp; $15.94 | &nbsp;&nbsp; $16.70 | &nbsp;&nbsp; $18.66 |
| Total return (%) (r)(s)(t)(x) | 10.01 | &nbsp;&nbsp;&nbsp;&nbsp;9.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp; (3.65)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.42 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions | 1.98 | &nbsp;&nbsp;&nbsp;&nbsp;1.96 | &nbsp;&nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 |
| Expenses after expense reductions | 1.96 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;1.93 | &nbsp;&nbsp;&nbsp;&nbsp;1.93 |
| Net investment income (loss) | 0.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.48)<br>|
| Portfolio turnover rate | 47 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 44 |
| Net assets at end of period (000 omitted) | $9047 | &nbsp;&nbsp; $14699 | &nbsp;&nbsp; $21695 | &nbsp;&nbsp; $29474 | &nbsp;&nbsp; $37588 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class I**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $18.10 | &nbsp;&nbsp; $17.47 | &nbsp;&nbsp; $18.20 | &nbsp;&nbsp; $20.22 | &nbsp;&nbsp; $18.69 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.18 | &nbsp;&nbsp; $0.24 | &nbsp;&nbsp; $0.21 | &nbsp;&nbsp; $0.16 | &nbsp;&nbsp; $0.10 |
| Net realized and unrealized gain (loss) | 1.66 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp; (0.78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.35 |
| Total from investment operations | $1.84 | &nbsp;&nbsp; $1.83 | &nbsp;&nbsp; $0.37 | &nbsp;&nbsp; $(0.62)<br>| &nbsp;&nbsp; $3.45 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.23)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.22)<br>| &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.20)<br>|
| From net realized gain | (1.58)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp; (1.72)<br>|
| Total distributions declared to shareholders | $(1.81)<br>| &nbsp;&nbsp; $(1.20)<br>| &nbsp;&nbsp; $(1.10)<br>| &nbsp;&nbsp; $(1.40)<br>| &nbsp;&nbsp; $(1.92)<br>|
| Net asset value, end of period (x) | $18.13 | &nbsp;&nbsp; $18.10 | &nbsp;&nbsp; $17.47 | &nbsp;&nbsp; $18.20 | &nbsp;&nbsp; $20.22 |
| Total return (%) (r)(s)(t)(x) | 11.12 | &nbsp;&nbsp;&nbsp;&nbsp;10.08 | &nbsp;&nbsp;&nbsp;&nbsp;2.30 | &nbsp;&nbsp; (2.70)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18.64 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions | 0.98 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 |
| Expenses after expense reductions | 0.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 |
| Net investment income (loss) | 1.03 | &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;&nbsp;0.46 |
| Portfolio turnover rate | 47 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 44 |
| Net assets at end of period (000 omitted) | $832362 | &nbsp;&nbsp; $1228722 | &nbsp;&nbsp; $1388622 | &nbsp;&nbsp; $1604806 | &nbsp;&nbsp; $1795671 |

---

**See Notes to Financial Statements**

------

MFS New Discovery Value Fund

*Financial Highlights - continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R1**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $16.52 | &nbsp;&nbsp; $16.03 | &nbsp;&nbsp; $16.80 | &nbsp;&nbsp; $18.78 | &nbsp;&nbsp; $17.55 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $(0.00)(w)<br>| &nbsp;&nbsp; $0.05 | &nbsp;&nbsp; $0.04 | &nbsp;&nbsp; $(0.01)<br>| &nbsp;&nbsp; $(0.10)<br>|
| Net realized and unrealized gain (loss) | 1.50 | &nbsp;&nbsp;&nbsp;&nbsp;1.45 | &nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.14 |
| Total from investment operations | $1.50 | &nbsp;&nbsp; $1.50 | &nbsp;&nbsp; $0.17 | &nbsp;&nbsp; $(0.75)<br>| &nbsp;&nbsp; $3.04 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.08)<br>| &nbsp;&nbsp; $(0.15)<br>| &nbsp;&nbsp; $(0.06)<br>| &nbsp;&nbsp; $(0.11)<br>| &nbsp;&nbsp; $(0.09)<br>|
| From net realized gain | (1.58)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp; (1.72)<br>|
| Total distributions declared to shareholders | $(1.66)<br>| &nbsp;&nbsp; $(1.01)<br>| &nbsp;&nbsp; $(0.94)<br>| &nbsp;&nbsp; $(1.23)<br>| &nbsp;&nbsp; $(1.81)<br>|
| Net asset value, end of period (x) | $16.36 | &nbsp;&nbsp; $16.52 | &nbsp;&nbsp; $16.03 | &nbsp;&nbsp; $16.80 | &nbsp;&nbsp; $18.78 |
| Total return (%) (r)(s)(t)(x) | 10.03 | &nbsp;&nbsp;&nbsp;&nbsp;9.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.27 | &nbsp;&nbsp; (3.65)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.45 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions | 1.98 | &nbsp;&nbsp;&nbsp;&nbsp;1.96 | &nbsp;&nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.94 |
| Expenses after expense reductions | 1.96 | &nbsp;&nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.92 | &nbsp;&nbsp;&nbsp;&nbsp;1.92 | &nbsp;&nbsp;&nbsp;&nbsp;1.93 |
| Net investment income (loss) | (0.02)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;&nbsp;0.25 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.51)<br>|
| Portfolio turnover rate | 47 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 44 |
| Net assets at end of period (000 omitted) | $2115 | &nbsp;&nbsp; $1878 | &nbsp;&nbsp; $1972 | &nbsp;&nbsp; $2196 | &nbsp;&nbsp; $2224 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R2**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $17.68 | &nbsp;&nbsp; $17.09 | &nbsp;&nbsp; $17.84 | &nbsp;&nbsp; $19.84 | &nbsp;&nbsp; $18.38 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.08 | &nbsp;&nbsp; $0.15 | &nbsp;&nbsp; $0.12 | &nbsp;&nbsp; $0.07 | &nbsp;&nbsp; $0.01 |
| Net realized and unrealized gain (loss) | 1.63 | &nbsp;&nbsp;&nbsp;&nbsp;1.54 | &nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp; (0.76)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.28 |
| Total from investment operations | $1.71 | &nbsp;&nbsp; $1.69 | &nbsp;&nbsp; $0.26 | &nbsp;&nbsp; $(0.69)<br>| &nbsp;&nbsp; $3.29 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.15)<br>| &nbsp;&nbsp; $(0.24)<br>| &nbsp;&nbsp; $(0.13)<br>| &nbsp;&nbsp; $(0.19)<br>| &nbsp;&nbsp; $(0.11)<br>|
| From net realized gain | (1.58)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp; (1.72)<br>|
| Total distributions declared to shareholders | $(1.73)<br>| &nbsp;&nbsp; $(1.10)<br>| &nbsp;&nbsp; $(1.01)<br>| &nbsp;&nbsp; $(1.31)<br>| &nbsp;&nbsp; $(1.83)<br>|
| Net asset value, end of period (x) | $17.66 | &nbsp;&nbsp; $17.68 | &nbsp;&nbsp; $17.09 | &nbsp;&nbsp; $17.84 | &nbsp;&nbsp; $19.84 |
| Total return (%) (r)(s)(t)(x) | 10.57 | &nbsp;&nbsp;&nbsp;&nbsp;9.54 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 | &nbsp;&nbsp; (3.13)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18.02 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions | 1.48 | &nbsp;&nbsp;&nbsp;&nbsp;1.46 | &nbsp;&nbsp;&nbsp;&nbsp;1.45 | &nbsp;&nbsp;&nbsp;&nbsp;1.45 | &nbsp;&nbsp;&nbsp;&nbsp;1.44 |
| Expenses after expense reductions | 1.46 | &nbsp;&nbsp;&nbsp;&nbsp;1.44 | &nbsp;&nbsp;&nbsp;&nbsp;1.44 | &nbsp;&nbsp;&nbsp;&nbsp;1.43 | &nbsp;&nbsp;&nbsp;&nbsp;1.43 |
| Net investment income (loss) | 0.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;&nbsp;0.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.05 |
| Portfolio turnover rate | 47 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 44 |
| Net assets at end of period (000 omitted) | $3868 | &nbsp;&nbsp; $3798 | &nbsp;&nbsp; $5265 | &nbsp;&nbsp; $5677 | &nbsp;&nbsp; $6251 |

---

**See Notes to Financial Statements**

------

MFS New Discovery Value Fund

*Financial Highlights - continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R3**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $17.94 | &nbsp;&nbsp; $17.33 | &nbsp;&nbsp; $18.07 | &nbsp;&nbsp; $20.08 | &nbsp;&nbsp; $18.57 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.13 | &nbsp;&nbsp; $0.19 | &nbsp;&nbsp; $0.17 | &nbsp;&nbsp; $0.12 | &nbsp;&nbsp; $0.05 |
| Net realized and unrealized gain (loss) | 1.65 | &nbsp;&nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp; (0.78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.33 |
| Total from investment operations | $1.78 | &nbsp;&nbsp; $1.77 | &nbsp;&nbsp; $0.32 | &nbsp;&nbsp; $(0.66)<br>| &nbsp;&nbsp; $3.38 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.19)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.18)<br>| &nbsp;&nbsp; $(0.23)<br>| &nbsp;&nbsp; $(0.15)<br>|
| From net realized gain | (1.58)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp; (1.72)<br>|
| Total distributions declared to shareholders | $(1.77)<br>| &nbsp;&nbsp; $(1.16)<br>| &nbsp;&nbsp; $(1.06)<br>| &nbsp;&nbsp; $(1.35)<br>| &nbsp;&nbsp; $(1.87)<br>|
| Net asset value, end of period (x) | $17.95 | &nbsp;&nbsp; $17.94 | &nbsp;&nbsp; $17.33 | &nbsp;&nbsp; $18.07 | &nbsp;&nbsp; $20.08 |
| Total return (%) (r)(s)(t)(x) | 10.84 | &nbsp;&nbsp;&nbsp;&nbsp;9.86 | &nbsp;&nbsp;&nbsp;&nbsp;2.01 | &nbsp;&nbsp; (2.92)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18.36 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions | 1.23 | &nbsp;&nbsp;&nbsp;&nbsp;1.21 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 |
| Expenses after expense reductions | 1.21 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.18 | &nbsp;&nbsp;&nbsp;&nbsp;1.18 |
| Net investment income (loss) | 0.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.24 |
| Portfolio turnover rate | 47 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 44 |
| Net assets at end of period (000 omitted) | $192614 | &nbsp;&nbsp; $204333 | &nbsp;&nbsp; $81370 | &nbsp;&nbsp; $99012 | &nbsp;&nbsp; $104164 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R4**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $18.14 | &nbsp;&nbsp; $17.50 | &nbsp;&nbsp; $18.24 | &nbsp;&nbsp; $20.25 | &nbsp;&nbsp; $18.72 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.17 | &nbsp;&nbsp; $0.24 | &nbsp;&nbsp; $0.21 | &nbsp;&nbsp; $0.17 | &nbsp;&nbsp; $0.09 |
| Net realized and unrealized gain (loss) | 1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp; (0.78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.36 |
| Total from investment operations | $1.85 | &nbsp;&nbsp; $1.84 | &nbsp;&nbsp; $0.36 | &nbsp;&nbsp; $(0.61)<br>| &nbsp;&nbsp; $3.45 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.24)<br>| &nbsp;&nbsp; $(0.34)<br>| &nbsp;&nbsp; $(0.22)<br>| &nbsp;&nbsp; $(0.28)<br>| &nbsp;&nbsp; $(0.20)<br>|
| From net realized gain | (1.58)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp; (1.72)<br>|
| Total distributions declared to shareholders | $(1.82)<br>| &nbsp;&nbsp; $(1.20)<br>| &nbsp;&nbsp; $(1.10)<br>| &nbsp;&nbsp; $(1.40)<br>| &nbsp;&nbsp; $(1.92)<br>|
| Net asset value, end of period (x) | $18.17 | &nbsp;&nbsp; $18.14 | &nbsp;&nbsp; $17.50 | &nbsp;&nbsp; $18.24 | &nbsp;&nbsp; $20.25 |
| Total return (%) (r)(s)(t)(x) | 11.11 | &nbsp;&nbsp;&nbsp;&nbsp;10.12 | &nbsp;&nbsp;&nbsp;&nbsp;2.24 | &nbsp;&nbsp; (2.66)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18.60 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions | 0.98 | &nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 |
| Expenses after expense reductions | 0.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.93 |
| Net investment income (loss) | 0.99 | &nbsp;&nbsp;&nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;&nbsp;0.45 |
| Portfolio turnover rate | 47 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 44 |
| Net assets at end of period (000 omitted) | $64256 | &nbsp;&nbsp; $63305 | &nbsp;&nbsp; $66910 | &nbsp;&nbsp; $73846 | &nbsp;&nbsp; $103464 |

---

**See Notes to Financial Statements**

------

MFS New Discovery Value Fund

*Financial Highlights - continued*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class R6**  | **Year ended** | **Year ended** | **Year ended** | **Year ended** | **Year ended** |
|  | **2/28/26** | **2/28/25** | **2/29/24** | **2/28/23** | **2/28/22** |
| Net asset value, beginning of period | $18.17 | &nbsp;&nbsp; $17.53 | &nbsp;&nbsp; $18.27 | &nbsp;&nbsp; $20.29 | &nbsp;&nbsp; $18.75 |
| **Income (loss) from investment operations** |  |  |  |  |  |
| Net investment income (loss) (d) | $0.19 | &nbsp;&nbsp; $0.26 | &nbsp;&nbsp; $0.23 | &nbsp;&nbsp; $0.18 | &nbsp;&nbsp; $0.13 |
| Net realized and unrealized gain (loss) | 1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp; (0.78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.35 |
| Total from investment operations | $1.87 | &nbsp;&nbsp; $1.85 | &nbsp;&nbsp; $0.38 | &nbsp;&nbsp; $(0.60)<br>| &nbsp;&nbsp; $3.48 |
| **Less distributions declared to shareholders** |  |  |  |  |  |
| From net investment income | $(0.25)<br>| &nbsp;&nbsp; $(0.35)<br>| &nbsp;&nbsp; $(0.24)<br>| &nbsp;&nbsp; $(0.30)<br>| &nbsp;&nbsp; $(0.22)<br>|
| From net realized gain | (1.58)<br>| &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp; (0.88)<br>| &nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp; (1.72)<br>|
| Total distributions declared to shareholders | $(1.83)<br>| &nbsp;&nbsp; $(1.21)<br>| &nbsp;&nbsp; $(1.12)<br>| &nbsp;&nbsp; $(1.42)<br>| &nbsp;&nbsp; $(1.94)<br>|
| Net asset value, end of period (x) | $18.21 | &nbsp;&nbsp; $18.17 | &nbsp;&nbsp; $17.53 | &nbsp;&nbsp; $18.27 | &nbsp;&nbsp; $20.29 |
| Total return (%) (r)(s)(t)(x) | 11.27 | &nbsp;&nbsp;&nbsp;&nbsp;10.20 | &nbsp;&nbsp;&nbsp;&nbsp;2.34 | &nbsp;&nbsp; (2.59)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18.75 |
| **Ratios (%) (to average net assets)** <br>**and Supplemental data:**<br>|  |  |  |  |  |
| Expenses before expense reductions | 0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 |
| Expenses after expense reductions | 0.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 |
| Net investment income (loss) | 1.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.40 | &nbsp;&nbsp;&nbsp;&nbsp;1.32 | &nbsp;&nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 |
| Portfolio turnover rate | 47 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 44 |
| Net assets at end of period (000 omitted) | $1387273 | &nbsp;&nbsp; $1431761 | &nbsp;&nbsp; $1585878 | &nbsp;&nbsp; $1728213 | &nbsp;&nbsp; $1875681 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(d) Per share data is based on average shares outstanding.

&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 New Discovery Value Fund

**Notes to Financial Statements**

**(1) Business and Organization**

MFS New Discovery Value Fund (the fund) is a diversified series of MFS Series Trust XIII (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 will generally focus on securities of small size companies which may be more volatile than those of larger companies.

**Segment Reporting** — 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

------

MFS New Discovery Value Fund

*Notes to Financial Statements - continued* 

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 February 28, 2026 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities | $2699009143 | $— | $— | $2699009143 |
| Mutual Funds | 33350285 |  |  | 33350285 |
| Total | $2732359428 | $— | $— | $2732359428 |

---

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. 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 $30,126,604. The fair value of the fund's investment securities on loan and a related liability of $30,968,720 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

------

MFS New Discovery Value Fund

*Notes to Financial Statements - continued* 

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 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 two fiscal years is as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; **Year ended** <br>**2/28/26**<br>| &nbsp;&nbsp; **Year ended** <br>**2/28/25**<br>|
| Ordinary income (including any short-term capital gains) | &nbsp;&nbsp; $90674426 | &nbsp;&nbsp; $95676016 |
| Long-term capital gains | &nbsp;&nbsp; 180649513 | &nbsp;&nbsp; 114758025 |
| Total distributions | &nbsp;&nbsp; $271323939 | &nbsp;&nbsp; $210434041 |

---

The federal tax cost and the tax basis components of distributable earnings were as follows:

---

| | |
|:---|:---|
| **As of 2/28/26** |  |
| Cost of investments | &nbsp;&nbsp; $2183837504 |
| Gross appreciation | &nbsp;&nbsp; 692015174 |
| Gross depreciation | &nbsp;&nbsp; (143493250)<br>|
| Net unrealized appreciation (depreciation) | &nbsp;&nbsp; $548521924 |
| Undistributed ordinary income | &nbsp;&nbsp; 5436888 |
| Undistributed long-term capital gain | &nbsp;&nbsp; 72485942 |
| Total distributable earnings (loss) | &nbsp;&nbsp; $626444754 |

---

------

MFS New Discovery Value Fund

*Notes to Financial Statements - continued* 

**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:

---

| | | |
|:---|:---|:---|
|  | **Year** <br>**ended** <br>**2/28/26**<br>| **Year** <br>**ended** <br>**2/28/25**<br>|
| Class A | $23885761 | &nbsp;&nbsp; $16909225 |
| Class B | 77170 | &nbsp;&nbsp; 120588 |
| Class C | 1021360 | &nbsp;&nbsp; 1014820 |
| Class I | 83631459 | &nbsp;&nbsp; 81507541 |
| Class R1 | 196777 | &nbsp;&nbsp; 107020 |
| Class R2 | 376593 | &nbsp;&nbsp; 311653 |
| Class R3 | 19042685 | &nbsp;&nbsp; 13029578 |
| Class R4 | 6161094 | &nbsp;&nbsp; 4186791 |
| Class R6 | 136931040 | &nbsp;&nbsp; 93246825 |
| Total | $271323939 | &nbsp;&nbsp; $210434041 |

---

**(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 $2.5 billion | 0.80% |
| In excess of $2.5 billion and up to $5 billion | 0.75% |
| In excess of $5 billion | 0.70% |

---

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 June 30, 2026. For the year ended February 28, 2026, this management fee reduction amounted to $381,607, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the year ended February 28, 2026 was equivalent to an annual effective rate of 0.82% 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 |
| 1.39% | 2.14% | 2.14% | 1.14% | 2.14% | 1.64% | 1.39% | 1.14% | 1.07% |

---

This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until June 30, 2027. For the year ended February 28, 2026, 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 $5,285 for the year ended February 28, 2026, 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 New Discovery Value Fund

*Notes to Financial Statements - 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% | $611328 |
| Class B | 0.75% | 0.25% | 1.00% | 1.00% | 8932 |
| Class C | 0.75% | 0.25% | 1.00% | 1.00% | 108361 |
| Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 18978 |
| Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 18972 |
| Class R3 |  | 0.25% | 0.25% | 0.25% | 483197 |
| Total Distribution and Service Fees  |  |  |  |  | $1249768 |

---

(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 year ended February 28, 2026 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 year ended February 28, 2026, this rebate amounted to $80, $1, and $22 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 year ended February 28, 2026, were as follows:

---

| | |
|:---|:---|
|  | **Amount** |
| Class A | $262 |
| Class B | 2 |
| Class C | 181 |

---

**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 year ended February 28, 2026, the fee was $68,497, which equated to 0.0025% 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 year ended February 28, 2026, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $1,484,176.

**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 year ended February 28, 2026 was equivalent to an annual effective rate of 0.0131% 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 New Discovery Value Fund

*Notes to Financial Statements - continued* 

MFS purchased or redeemed fund shares on the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Transaction** | **Class** | **Shares** | **Amount** |
| 8/19/2024 | Redemption | Class A | 5 | $102 |
| 8/19/2024 | Redemption | Class B | 3 | 57 |
| 8/19/2024 | Redemption | Class C | 4 | 69 |
| 8/19/2024 | Redemption | Class I | 4 | 80 |
| 8/19/2024 | Redemption | Class R1 | 12 | 213 |
| 8/19/2024 | Redemption | Class R2 | 3 | 55 |
| 8/19/2024 | Redemption | Class R3 | 3 | 60 |
| 8/19/2024 | Redemption | Class R4 | 3 | 57 |

---

During the year ended February 28, 2026, 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 $2,192,590. The sales transactions resulted in net realized gains (losses) of $762,752.

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 year ended February 28, 2026, this reimbursement amounted to $248,685, which is included in "Other" income in the Statement of Operations.

**(4) Portfolio Securities**

For the year ended February 28, 2026, purchases and sales of investments, other than short-term obligations, aggregated $1,280,471,275 and $1,977,946,132, 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:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended** <br>**2/28/26** | **Year ended** <br>**2/28/26** | **Year ended** <br>**2/28/25** | **Year ended** <br>**2/28/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares sold |  |  |  |  |
| Class A | 518587 | &nbsp;&nbsp; $8844756 | &nbsp;&nbsp; 706703 | &nbsp;&nbsp; $12949695 |
| Class B | 254 | &nbsp;&nbsp; 4001 |  |  |
| Class C | 11953 | &nbsp;&nbsp; 189419 | &nbsp;&nbsp; 15141 | &nbsp;&nbsp; 253369 |
| Class I | 5167728 | &nbsp;&nbsp; 89957100 | &nbsp;&nbsp; 9501176 | &nbsp;&nbsp; 175456384 |
| Class R1 | 6535 | &nbsp;&nbsp; 103472 | &nbsp;&nbsp; 11213 | &nbsp;&nbsp; 188195 |
| Class R2 | 18964 | &nbsp;&nbsp; 318899 | &nbsp;&nbsp; 30027 | &nbsp;&nbsp; 544937 |
| Class R3 | 1396891 | &nbsp;&nbsp; 24075895 | &nbsp;&nbsp; 8546960 | &nbsp;&nbsp; 150123908 |
| Class R4 | 393967 | &nbsp;&nbsp; 6877338 | &nbsp;&nbsp; 395723 | &nbsp;&nbsp; 7325369 |
| Class R6 | 10618203 | &nbsp;&nbsp; 179864840 | &nbsp;&nbsp; 9242156 | &nbsp;&nbsp; 171053749 |
|  | 18133082 | &nbsp;&nbsp; $310235720 | &nbsp;&nbsp; 28449099 | &nbsp;&nbsp; $517895606 |
| Shares issued to shareholders <br>in reinvestment of distributions<br>|  |  |  |  |
| Class A | 1426401 | &nbsp;&nbsp; $23851179 | &nbsp;&nbsp; 887030 | &nbsp;&nbsp; $16885542 |
| Class B | 4899 | &nbsp;&nbsp; 75618 | &nbsp;&nbsp; 6649 | &nbsp;&nbsp; 117454 |
| Class C | 66907 | &nbsp;&nbsp; 1021277 | &nbsp;&nbsp; 57963 | &nbsp;&nbsp; 1014820 |
| Class I | 4868412 | &nbsp;&nbsp; 82402405 | &nbsp;&nbsp; 4191859 | &nbsp;&nbsp; 80680551 |
| Class R1 | 12853 | &nbsp;&nbsp; 196777 | &nbsp;&nbsp; 6081 | &nbsp;&nbsp; 107020 |
| Class R2 | 22821 | &nbsp;&nbsp; 376593 | &nbsp;&nbsp; 16563 | &nbsp;&nbsp; 311653 |
| Class R3 | 1136149 | &nbsp;&nbsp; 19042685 | &nbsp;&nbsp; 683004 | &nbsp;&nbsp; 13029578 |
| Class R4 | 363231 | &nbsp;&nbsp; 6161094 | &nbsp;&nbsp; 217080 | &nbsp;&nbsp; 4186791 |
| Class R6 | 7214732 | &nbsp;&nbsp; 122596325 | &nbsp;&nbsp; 4292178 | &nbsp;&nbsp; 82911676 |
|  | 15116405 | &nbsp;&nbsp; $255723953 | &nbsp;&nbsp; 10358407 | &nbsp;&nbsp; $199245085 |

---

------

MFS New Discovery Value Fund

*Notes to Financial Statements - continued* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended**<br> **2/28/26** | **Year ended**<br> **2/28/26** | **Year ended**<br> **2/28/25** | **Year ended**<br> **2/28/25** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| Shares reacquired |  |  |  |  |
| Class A | (3238497)<br>| &nbsp;&nbsp; $(55666499)<br>| &nbsp;&nbsp; (2533180)<br>| &nbsp;&nbsp; $(46452320)<br>|
| Class B | (62310)<br>| &nbsp;&nbsp; (982610)<br>| &nbsp;&nbsp; (88546)<br>| &nbsp;&nbsp; (1503944)<br>|
| Class C | (418113)<br>| &nbsp;&nbsp; (6536459)<br>| &nbsp;&nbsp; (539625)<br>| &nbsp;&nbsp; (9068575)<br>|
| Class I | (32018033)<br>| &nbsp;&nbsp; (555185546)<br>| &nbsp;&nbsp; (25317647)<br>| &nbsp;&nbsp; (465292646)<br>|
| Class R1 | (3807)<br>| &nbsp;&nbsp; (60240)<br>| &nbsp;&nbsp; (26655)<br>| &nbsp;&nbsp; (450498)<br>|
| Class R2 | (37615)<br>| &nbsp;&nbsp; (649424)<br>| &nbsp;&nbsp; (139934)<br>| &nbsp;&nbsp; (2515716)<br>|
| Class R3 | (3193997)<br>| &nbsp;&nbsp; (55761136)<br>| &nbsp;&nbsp; (2533563)<br>| &nbsp;&nbsp; (46808745)<br>|
| Class R4 | (711351)<br>| &nbsp;&nbsp; (12505354)<br>| &nbsp;&nbsp; (946180)<br>| &nbsp;&nbsp; (17740503)<br>|
| Class R6 | (20434185)<br>| &nbsp;&nbsp; (360758968)<br>| &nbsp;&nbsp; (25217438)<br>| &nbsp;&nbsp; (465456608)<br>|
|  | (60117908)<br>| &nbsp;&nbsp; $(1048106236)<br>| &nbsp;&nbsp; (57342768)<br>| &nbsp;&nbsp; $(1055289555)<br>|
| Net change |  |  |  |  |
| Class A | (1293509)<br>| &nbsp;&nbsp; $(22970564)<br>| &nbsp;&nbsp; (939447)<br>| &nbsp;&nbsp; $(16617083)<br>|
| Class B | (57157)<br>| &nbsp;&nbsp; (902991)<br>| &nbsp;&nbsp; (81897)<br>| &nbsp;&nbsp; (1386490)<br>|
| Class C | (339253)<br>| &nbsp;&nbsp; (5325763)<br>| &nbsp;&nbsp; (466521)<br>| &nbsp;&nbsp; (7800386)<br>|
| Class I | (21981893)<br>| &nbsp;&nbsp; (382826041)<br>| &nbsp;&nbsp; (11624612)<br>| &nbsp;&nbsp; (209155711)<br>|
| Class R1 | 15581 | &nbsp;&nbsp; 240009 | &nbsp;&nbsp; (9361)<br>| &nbsp;&nbsp; (155283)<br>|
| Class R2 | 4170 | &nbsp;&nbsp; 46068 | &nbsp;&nbsp; (93344)<br>| &nbsp;&nbsp; (1659126)<br>|
| Class R3 | (660957)<br>| &nbsp;&nbsp; (12642556)<br>| &nbsp;&nbsp; 6696401 | &nbsp;&nbsp; 116344741 |
| Class R4 | 45847 | &nbsp;&nbsp; 533078 | &nbsp;&nbsp; (333377)<br>| &nbsp;&nbsp; (6228343)<br>|
| Class R6 | (2601250)<br>| &nbsp;&nbsp; (58297803)<br>| &nbsp;&nbsp; (11683104)<br>| &nbsp;&nbsp; (211491183)<br>|
|  | (26868421)<br>| &nbsp;&nbsp; $(482146563)<br>| &nbsp;&nbsp; (18535262)<br>| &nbsp;&nbsp; $(338148864)<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 Growth Allocation Fund, the MFS Moderate Allocation Fund, the MFS Aggressive Growth Allocation Fund, and the MFS Conservative Allocation Fund were the owners of record of approximately 5%, 4%, 3%, and 1%, respectively, of the value of outstanding voting shares of the fund. In addition, 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 at the close of business on August 14, 2019, the fund was closed to new 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), 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 11, 2027 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 year ended February 28, 2026, the fund's commitment fee and interest expense were $13,489 and $14,597, respectively, and are included in "Miscellaneous" expense in the Statement of Operations.

------

MFS New Discovery Value Fund

*Notes to Financial Statements - 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 year ended February 28, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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; $53367325 | &nbsp;&nbsp; $631900208 | &nbsp;&nbsp; $682888527 | &nbsp;&nbsp; $2858 | &nbsp;&nbsp; $(299)<br>| &nbsp;&nbsp; $2381565 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp; **Dividend** <br>**Income**<br>| &nbsp;&nbsp; **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp; $1286937 | $— |

---

------

MFS New Discovery Value Fund

**Report of Independent Registered Public Accounting Firm**

To the Shareholders of MFS New Discovery Value Fund and the Board of Trustees of MFS Series Trust XIII

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities of MFS New Discovery Value Fund (the "Fund") (one of the funds constituting MFS Series Trust XIII (the "Trust")), including the portfolio of investments, as of February 28, 2026, and the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund (one of the funds constituting MFS Series Trust XIII) at February 28, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and its financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

**Basis for Opinion**

These financial statements are the responsibility of the Trust's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust's internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Ernst & Young LLP

We have served as the auditor of one or more MFS investment companies since 1993.

Boston, Massachusetts

April 15, 2026

------

MFS New Discovery Value Fund

Federal Tax Information (unaudited)

The fund will notify shareholders of amounts for use in preparing 2026 income tax forms in January 2027. The following information is provided pursuant to provisions of the Internal Revenue Code.

The fund designates the maximum amount allowable as qualified dividend income eligible to be taxed at the same rate as long-term capital gain.

The fund designates $212,046,000 as capital gain dividends paid during the fiscal year.

For corporate shareholders, 49.65% of the ordinary income dividends paid during the prior calendar year qualify for the corporate dividends received deduction.

The fund designates the maximum amount allowable as Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).

------

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS New Discovery Value Fund.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

There is nothing to report for this item for MFS New Discovery 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 New Discovery 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.**

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 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: Attached hereto as [EX-99.COE](Code_of_Ethics.htm).

* 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](99.302.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](99.906.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 XIII

By (Signature and Title)\*

/S/ DAVID L. DILORENZO

David L. DiLorenzo, President

Date: April 15, 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: April 15, 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: April 15, 2026

\* Print name and title of each signing officer under his or her signature.

------

## Exhibit 99.906

**<u>EX-99.906CERT</u>**

**MFS SERIES TRUST XIII**

**Certification Pursuant to Section 906 of the Sarbanes-Oxley Act**

I, David L. DiLorenzo, certify that, to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;1.The Form N-CSR (the "Report") of MFS Series Trust XIII (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;2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: April 15, 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 XIII**

**Certification Pursuant to Section 906 of the Sarbanes-Oxley Act**

I, Kasey L. Phillips, certify that, to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;1.The Form N-CSR (the "Report") of MFS Series Trust XIII (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;2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: April 15, 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.**

------

## Ex-99.Code

![Image is missing](g02d3nwcmtrxn83uuvo7y.jpg)

<u>EX-99.COE</u>

**Code of Ethics for Principal Executive and Principal Financial Officers**

**Effective April 1, 2024**

**Policy Purpose and Summary**

Section 406 of the Sarbanes-Oxley Act requires that each MFS Fund registered under the Investment Company Act of 1940 disclose whether or not it has adopted a code of ethics for senior financial officers, applicable to its principal financial officer and principal accounting officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**I.Overview**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Covered Officers/Purpose of the Code

This code of ethics (this "Code") has been adopted by the funds (collectively, "Funds" and each, "Fund") under supervision of the MFS Funds Board (the "Board") and applies to the Funds' Principal Executive Officer and Principal Financial Officer (the "Covered Officers" each of whom is set forth in Exhibit A) for the purpose of promoting:

&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;•honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

&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;•full, fair, accurate, timely and understandable disclosure in reports and documents that the Funds file with, or submit to, the Securities and Exchange Commission ("SEC") and in other public communications made by the Funds;

&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;•compliance by the Funds with applicable laws and governmental rules and regulations;

&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;•the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•accountability for adherence to the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Conduct Guidelines

Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest. In addition, each Covered Officer should not place his or her personal interests ahead of the Funds' interests and should endeavor to act honestly and ethically. In furtherance of the foregoing, each Covered Officer must:

&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;•not use his or her personal influence or personal relationships improperly to influence investment decisions or financial reporting for any Fund whereby the Covered Officer would benefit personally to the detriment of the Fund; 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;&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;•not cause a Fund to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than the benefit of the Fund.

The following activities, which could create the appearance of a conflict of interest, are permitted only with the approval of the Funds' Chief Legal Officer ("CLO"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•service as a director on the board of any "for profit" company other than the board of the Funds' investment adviser or its subsidiaries or board of a pooled investment vehicle sponsored by the Funds' investment adviser or its subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•running for political office;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the receipt of any Fund business-related gift or any entertainment from any company with which a Fund has current or prospective business dealings unless such gift or entertainment is permitted by the gifts and entertainment policy of the Funds' investment adviser;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•any material ownership interest in, or any consulting or employment relationship with, any Fund service providers (e.g., custodian banks, audit firms), other than the Funds' investment adviser, principal underwriter, administrator or any affiliated person thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a direct or indirect financial interest in commissions, transaction charges or spreads paid by a Fund for effecting portfolio transactions or for selling or redeeming shares, other than an interest arising from the Covered Officer's employment or securities ownership.

**C.Disclosure and Compliance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Each Covered Officer should familiarize himself or herself with the disclosure requirements generally applicable to the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about a Fund to others, whether within or outside the Fund, including to the Fund's trustees and auditors, and to governmental regulators and self-regulatory organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•each Covered Officer should, to the extent appropriate within his or her area of Fund responsibility, consult with other officers and employees of the Funds and the adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Funds file with, or submit to, the SEC and in other public communications made by the Funds; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•it is the responsibility of each Covered Officer to promote compliance within his or her area of Fund responsibility with the standards and restrictions imposed by applicable laws, rules and regulations.

**D.Reporting and Accountability**

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•upon adoption of the Code (or thereafter as applicable, upon becoming a Covered Officer), affirm in writing to the Board that he or she has received, read, and understands 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;&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;•annually thereafter affirm to the Board that he or she has complied with the requirements 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;•annually report to the CLO affiliations and relationships which are or may raise the appearance of a conflict of interest with the Covered Officer's duties to the Funds, as identified in the annual Trustee and Officer Questionnaire;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•not retaliate against any other Covered Officer or any officer or employee of the Funds or their affiliated persons for reports of potential violations that are made in good faith; 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;•notify the CLO promptly if he or she knows of any violation of this Code. Failure to do so is itself a violation of this Code.

The CLO is responsible for applying this Code to specific situations in which questions are presented under it, granting waivers upon consultation with the Board or its designee, investigating violations, and has the authority to interpret this Code in any particular situation. The CLO will report requests for waivers to the Board (or a designee thereof) promptly upon receipt of a waiver request and will periodically report to the Board any approvals granted since the last report.

The CLO will take all appropriate action to investigate any potential violations reported to him or her and to report any violations to the Board. If the Board concurs that a violation has occurred, it will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the investment adviser or its board; or a recommendation to dismiss the Covered Officer.

Any changes to or waivers of this Code will, to the extent required, be disclosed as provided by SEC rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. Confidentiality

All reports and records prepared or maintained pursuant to this Code and under the direction of the CLO will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Funds' Board, its counsel, counsel to the Board's independent trustees and senior management and the board of directors of the Fund's investment adviser and its counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. Internal Use

The Code is intended solely for the internal use by the Funds and does not constitute an admission, by or on behalf of any Fund, as to any fact, circumstance, or legal conclusion.

**II.Supervision**

The Board of Trustees of the Funds, including a majority of the Trustees who are not "interested persons" (as defined in the 1940 Act) of the Funds, shall review no less frequently than annually, a report from the CLO regarding the affirmations of the principal executive officer and the principal financial officer as to compliance with this 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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**III.Interpretation and Escalation**

Breaches of the Code are reviewed by the CLO and communicated to the Board of Trustees of the affected Fund(s). Interpretations of this Policy shall be made from time to time by the CLO, as needed, and questions regarding the application of this Policy to a specific set of facts are escalated to the CLO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IV. Authority

Section 406 of the Sarbanes-Oxley Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**V.Monitoring**

Adherence to this policy is monitored by the CLO.

---

| | |
|:---|:---|
| VI. | **Related Policies** |
|  | This Code shall be the sole code of ethics adopted by the Funds for purposes of |
|  | Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to |
|  | registered investment companies thereunder. Insofar as other policies or procedures |
|  | of the Funds, the Funds' adviser, principal underwriter, or other service providers |
|  | govern or purport to govern the behavior or activities of the Covered Officers who |
|  | are subject to this Code, they are superseded by this Code to the extent that they |
|  | overlap or conflict with the provisions of this Code. The Funds' and their investment |
|  | adviser's codes of ethics under Rule 17j-1 under the Investment Company Act and |
|  | any other codes or policies or procedures adopted by the Funds or their investment |
|  | adviser or other service providers are separate requirements and are not part of this |
|  | Code. |
| VII. | **Amendment** |
|  | Any amendments to this Code, other than amendments to Exhibit A, must be |
|  | approved or ratified by a majority vote of the Board, including a majority of |
|  | independent trustees. |
| VIII. | **Recordkeeping** |
|  | All required books, records and other documentation shall be retained in accordance |
|  | with MFS' related record retention policy. |

---

**Additional procedures may need to be implemented by departments to properly comply with this policy.**

**<u>Exhibit A</u>**

**<u>As of April 1, 2024</u>**

**Persons Covered by this Code of Ethics**

Funds' Principal Executive Officer: David L. DiLorenzo

Funds' Principal Financial Officer: Kasey L. Phillips

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## Ex-99

**<u>EX-99.302CERT</u>**

**MFS SERIES TRUST XIII**

**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 XIII;

&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: April 15, 2026

<u>/S/ DAVID L. DILORENZO</u>

David L. DiLorenzo

President (Principal Executive Officer)

**<u>EX-99.302CERT</u>**

**MFS SERIES TRUST XIII**

**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 XIII;

&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: April 15, 2026

<u>/S/ KASEY L. PHILLIPS</u>

Kasey L. Phillips

Treasurer (Principal Financial Officer and Accounting Officer)

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