# EDGAR Filing Document

**Accession Number:** 0000719269
**File Stem:** 0001410368-26-016687
**Filing Date:** 2026-2
**Character Count:** 79064
**Document Hash:** 59fa33d5f41b94e525a55e2f00d2a29c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-016687.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0001410368-26-016687

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03732
- **FILM NUMBER:** 26668403

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

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

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

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

## Series and Classes Contracts Data

### MFS Global Governments Portfolio (Series ID: S000002659)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000007287 | Initial Class |  |
| C000007288 | Service Class |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** MFS VARIABLE INSURANCE TRUST II

- **b. Investment Company Act file number:** 811-03732

- **c. CIK number of Registrant:** 0000719269

- **d. LEI of Registrant:** LQOFLJQP174GQBC84T87

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 111 HUNTINGTON AVENUE

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

  - **Telephone number:** 617-954-5000

**Item A.2. Information about the Series.**

- **a. Name of Series:** MFS Global Governments Portfolio

- **b. EDGAR series identifier (if any):** S000002659

- **c. LEI of Series:** 6UIE5ULN0F0W22N47U94

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $80132565.97

**Total Liabilities:** $370319.54

**Net Assets:** $79762246.43

**Cash Not Reported:** $25305.58

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -8.67000000 | **1-Year:** -184.98000000 | **5-Year:** -960.42000000 | **10-Year:** -4884.74000000 | **30-Year:** -1049.38000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -2.62000000 | **1-Year:** -40.14000000 | **5-Year:** -153.39000000 | **10-Year:** -359.53000000 | **30-Year:** -1.85000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000007287 | -0.57%               | 0.23%                | -0.11%               |
| Class ID C000007288 | -0.46%               | 0.12%                | -0.12%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-391208.36              | $-307152.30                                |
| Month 2  | $-13480.25               | $-74342.72                                 |
| Month 3  | $-211656.11              | $-73742.33                                 |

**Designated Index Information**

- **Index Name:** JPMorgan Global Government Bond Index

- **Index Identifier:** JPMGGLBL

### Schedule of Portfolio Investments

| Name                                              | Title                                                                                                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| PROVINCE OF ALBERTA                               | Province of Alberta Canada                                                                                                             | CUSIP: 013051ET0<br>LEI: LQPXMHHNJKIPJYE53543 | Long             | DBT              | NUSS              | CA        |    250000 | PA      | $252689.71    | 0.32%             | 2034-01-24      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| PROVINCE OF ALBERTA                               | Province of Alberta Canada                                                                                                             | CUSIP: 013051EY9<br>LEI: LQPXMHHNJKIPJYE53543 | Long             | DBT              | NUSS              | CA        |    157000 | PA      | $154746.20    | 0.19%             | 2035-11-02      | Fixed         | 4.30%                 | No            | 2                  | On Loan: No      |
| arbor multifamily mortgage securities trust       | Arbor Multifamily Mortgage Securities Trust 2021-MF3                                                                                   | CUSIP: 03882KAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3129668 | PA      | $84034.40     | 0.11%             | 2054-10-15      | Variable      | 0.73%                 | Yes           | 2                  | On Loan: No      |
| Canada Government Bonds                           | Canada Government Bonds                                                                                                                | CUSIP: 135087N26<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |   1740000 | PA      | $1158246.33   | 1.45%             | 2031-12-01      | Fixed         | 1.50%                 | No            | 2                  | On Loan: No      |
| Canada Government Bonds                           | Canada Government Bonds                                                                                                                | CUSIP: 135087P99<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |    180000 | PA      | $105573.86    | 0.13%             | 2055-12-01      | Fixed         | 2.75%                 | No            | 2                  | On Loan: No      |
| CONSERVATION FUND                                 | Conservation Fund A Nonprofit Corp/The                                                                                                 | CUSIP: 20848FAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    158000 | PA      | $151548.77    | 0.19%             | 2029-12-15      | Fixed         | 3.47%                 | No            | 2                  | On Loan: No      |
| Deutsche Bank AG                                  | PURCHASED USD / SOLD NZD                                                                                                               | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $6158.21      | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| NatWest Markets PLC                               | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: RR3QWICWWIPCS8A4S074 | N/A              | DFE              |  | US        |         1 | NC      | $-98.85       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED USD / SOLD CAD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $-2661.21     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED USD / SOLD JPY                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $57337.84     | 0.07%             |  |  |  | No            | 2                  | On Loan: No      |
| Deutsche Bank AG                                  | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $314.75       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED CAD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | CA        |         1 | NC      | $2575.98      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD JPY                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $16772.63     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Merrill Lynch International                       | PURCHASED HUF / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | HU        |         1 | NC      | $5667.43      | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED DKK / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | DK        |         1 | NC      | $1512.18      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED CZK / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | CZ        |         1 | NC      | $5748.24      | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Deutsche Bank AG                                  | PURCHASED USD / SOLD NZD                                                                                                               | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $181.65       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Citibank NA                                       | PURCHASED NZD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | NZ        |         1 | NC      | $-229.71      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED USD / SOLD NOK                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-105.21      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED SEK / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | SE        |         1 | NC      | $22664.24     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Citibank NA                                       | PURCHASED GBP / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | GB        |         1 | NC      | $18715.34     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED USD / SOLD CAD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $-22931.09    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Deutsche Bank AG                                  | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $-12484.84    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED USD / SOLD ZAR                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $-6130.12     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED USD / SOLD SEK                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $-47156.41    | -0.06%            |  |  |  | No            | 2                  | On Loan: No      |
| Merrill Lynch International                       | PURCHASED USD / SOLD ZAR                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | US        |         1 | NC      | $-5955.51     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                            | PURCHASED JPY / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | JP        |         1 | NC      | $-88384.57    | -0.11%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                 | PURCHASED AUD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | AU        |         1 | NC      | $15862.47     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| UBS AG                                            | PURCHASED AUD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | AU        |         1 | NC      | $6246.65      | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD JPY                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $1461.93      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED USD / SOLD ZAR                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-11579.74    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-111.58      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                            | PURCHASED GBP / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | GB        |         1 | NC      | $200.23       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED USD / SOLD JPY                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $17098.95     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| UBS AG                                            | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |         1 | NC      | $-1331.43     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-128.12      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                 | PURCHASED USD / SOLD AUD                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |         1 | NC      | $-5707.95     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED CAD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | CA        |         1 | NC      | $3549.76      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED USD / SOLD JPY                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $9959.84      | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                 | PURCHASED USD / SOLD INR                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |         1 | NC      | $5259.17      | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs International                       | PURCHASED SEK / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | SE        |         1 | NC      | $13030.31     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Merrill Lynch International                       | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | US        |         1 | NC      | $-5456.36     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | N/A       |         1 | NC      | $808.93       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Deutsche Bank AG                                  | PURCHASED AUD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | AU        |         1 | NC      | $3721.43      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $-6851.53     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Citibank NA                                       | PURCHASED GBP / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | GB        |         1 | NC      | $2163.89      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED JPY / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | JP        |         1 | NC      | $-1418.67     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-1796.88     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Citibank NA                                       | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-6977.13     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED CAD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | CA        |         1 | NC      | $4358.59      | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED INR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | IN        |         1 | NC      | $-1538.65     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Deutsche Bank AG                                  | PURCHASED USD / SOLD AUD                                                                                                               | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $-1648.20     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED USD / SOLD SGD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $-667.72      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Deutsche Bank AG                                  | PURCHASED ZAR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | ZA        |         1 | NC      | $2571.69      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-4332.20     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| UBS AG                                            | PURCHASED CAD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | CA        |         1 | NC      | $11209.75     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | N/A       |         1 | NC      | $3745.91      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $-20856.58    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                 | PURCHASED USD / SOLD BRL                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |         1 | NC      | $1483.71      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED USD / SOLD JPY                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $610.05       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs International                       | PURCHASED NZD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | NZ        |         1 | NC      | $2346.23      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                            | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-4927.74     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED GBP / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | GB        |         1 | NC      | $7770.62      | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs International                       | PURCHASED NZD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | NZ        |         1 | NC      | $637.43       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD JPY                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $178.15       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Citibank NA                                       | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-712.64      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Citibank NA                                       | PURCHASED JPY / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | JP        |         1 | NC      | $-2461.13     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                 | PURCHASED SGD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | SG        |         1 | NC      | $457.04       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD JPY                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $1183.57      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED GBP / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | GB        |         1 | NC      | $466.35       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD CZK                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $-3593.84     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |         1 | NC      | $-3145.86     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $-3477.73     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Citibank NA                                       | PURCHASED CAD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CA        |         1 | NC      | $2418.26      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                 | PURCHASED INR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | IN        |         1 | NC      | $279.02       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED CAD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | CA        |         1 | NC      | $1719.80      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                            | PURCHASED CAD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | CA        |         1 | NC      | $677.34       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                            | PURCHASED GBP / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | GB        |         1 | NC      | $3147.77      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Citibank NA                                       | PURCHASED INR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | IN        |         1 | NC      | $211.69       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs International                       | PURCHASED AUD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | AU        |         1 | NC      | $475.05       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED GBP / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | GB        |         1 | NC      | $878.04       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Merrill Lynch International                       | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | N/A       |         1 | NC      | $35.78        | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED NZD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | NZ        |         1 | NC      | $-2239.71     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED GBP / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | GB        |         1 | NC      | $3455.26      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | N/A       |         1 | NC      | $125.69       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank USA NA                                  | PURCHASED AUD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | AU        |         1 | NC      | $244.71       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                 | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | N/A       |         1 | NC      | $708.81       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.  | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137F62R7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    329805 | PA      | $16211.27     | 0.02%             | 2030-09-25      | Variable      | 1.17%                 | No            | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.  | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137FV5Q1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1371346 | PA      | $68846.21     | 0.09%             | 2030-06-25      | Variable      | 1.37%                 | No            | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.  | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137H3EZ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    706831 | PA      | $29650.15     | 0.04%             | 2031-09-25      | Variable      | 0.85%                 | No            | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.  | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137H4BT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2295212 | PA      | $62510.10     | 0.08%             | 2031-09-25      | Variable      | 0.54%                 | No            | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.  | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137H4CH1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3422551 | PA      | $63115.95     | 0.08%             | 2031-11-25      | Variable      | 0.35%                 | No            | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.  | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137H4SM3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    568544 | PA      | $16062.22     | 0.02%             | 2031-12-25      | Variable      | 0.57%                 | No            | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.  | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137H5DT1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3444413 | PA      | $87317.59     | 0.11%             | 2031-12-25      | Variable      | 0.50%                 | No            | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.  | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137HDJK7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1058163 | PA      | $14311.23     | 0.02%             | 2029-05-25      | Variable      | 0.41%                 | No            | 2                  | On Loan: No      |
| REPUBLIC OF GUATEMALA                             | Guatemala Government Bond                                                                                                              | CUSIP: 401494BA6<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    400000 | PA      | $418000.00    | 0.52%             | 2036-08-15      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| MFS Institutional Money Market Portfolio          | MFS Institutional Money Market Portfolio                                                                                               | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | EC               | RF                | US        |   2080050 | NS      | $2080466.05   | 2.61%             |  |  |  | No            | 1                  | On Loan: No      |
| JAPAN (30 YEAR ISSUE)                             | Japan Government Thirty Year Bond                                                                                                      | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        | 488250000 | PA      | $3222250.51   | 4.04%             | 2030-05-20      | Fixed         | 2.30%                 | No            | 2                  | On Loan: No      |
| OMERS FINANCE TRUST                               | OMERS Finance Trust                                                                                                                    | CUSIP: 682142AK0<br>LEI: 529900M039WCPES03P17 | Long             | DBT              | NUSS              | CA        |    250000 | PA      | $267973.35    | 0.34%             | 2033-11-15      | Fixed         | 5.50%                 | Yes           | 2                  | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                          | Uruguay Government International Bond                                                                                                  | CUSIP: 760942BJ0<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |  10590630 | PA      | $279211.83    | 0.35%             | 2035-10-29      | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| SBNA Auto Receivables Trust                       | SBNA Auto Receivables Trust 2025-SF1                                                                                                   | CUSIP: 78437XAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11610 | PA      | $11616.74     | 0.01%             | 2031-03-17      | Fixed         | 5.12%                 | Yes           | 2                  | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                                                                              | CUSIP: 817477AJ1<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    201000 | PA      | $207801.23    | 0.26%             | 2034-06-12      | Fixed         | 6.00%                 | Yes           | 2                  | On Loan: No      |
| Small Business Administration Participation Certs | United States Small Business Administration                                                                                            | CUSIP: 83162CQA4<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |      1596 | PA      | $1595.99      | 0.00%             | 2026-01-01      | Fixed         | 5.21%                 | No            | 2                  | On Loan: No      |
| Small Business Administration Participation Certs | United States Small Business Administration                                                                                            | CUSIP: 83162CVK6<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |    116916 | PA      | $110261.32    | 0.14%             | 2033-03-01      | Fixed         | 2.22%                 | No            | 2                  | On Loan: No      |
| 3650R Commercial Mortgage Trust                   | 3650R 2021-PF1 Commercial Mortgage Trust                                                                                               | CUSIP: 88581EAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1007560 | PA      | $35647.47     | 0.04%             | 2054-11-15      | Variable      | 0.99%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                                    | CUSIP: 912810QC5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3686400 | PA      | $3692736.00   | 4.63%             | 2039-08-15      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                                    | CUSIP: 912810QY7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2646000 | PA      | $2033285.63   | 2.55%             | 2042-11-15      | Fixed         | 2.75%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                                    | CUSIP: 912810RK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    755000 | PA      | $534693.36    | 0.67%             | 2045-02-15      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                                    | CUSIP: 912810SF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2570000 | PA      | $1893166.39   | 2.37%             | 2049-02-15      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                                    | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2332000 | PA      | $2064366.57   | 2.59%             | 2053-08-15      | Fixed         | 4.13%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                                    | CUSIP: 9128284V9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6310000 | PA      | $6208694.91   | 7.78%             | 2028-08-15      | Fixed         | 2.88%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                                    | CUSIP: 912828X88<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6410000 | PA      | $6313349.25   | 7.92%             | 2027-05-15      | Fixed         | 2.38%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                                    | CUSIP: 91282CAE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9236000 | PA      | $8036763.13   | 10.08%            | 2030-08-15      | Fixed         | 0.63%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                                    | CUSIP: 91282CBT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    698000 | PA      | $693404.66    | 0.87%             | 2026-03-31      | Fixed         | 0.75%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                                    | CUSIP: 91282CGM7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1954000 | PA      | $1898967.43   | 2.38%             | 2033-02-15      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                          | Uruguay Government International Bond                                                                                                  | CUSIP: 917288BM3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |  18000000 | PA      | $473550.07    | 0.59%             | 2031-05-21      | Fixed         | 8.25%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                          | Long: BM11746   IRS USD R V 12MUSCPI SM11746_FLO CCPINFLATIONZERO / Short: BM11746   IRS USD P F  2.75500 SM11746_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   4400000 | OU      | $-8044.04     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| U.K. Gilts                                        | U.K. Gilts                                                                                                                             | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |   1067000 | PA      | $1141025.97   | 1.43%             | 2052-07-22      | Fixed         | 3.75%                 | No            | 2                  | On Loan: No      |
| Japan Government Ten Year Bonds                   | Japan Government Ten Year Bonds                                                                                                        | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        | 720000000 | PA      | $4591103.17   | 5.76%             | 2026-03-20      | Fixed         | 0.10%                 | No            | 2                  | On Loan: No      |
| Japan Government Forty Year Bonds                 | Japan Government Forty Year Bonds                                                                                                      | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        | 121800000 | PA      | $416191.47    | 0.52%             | 2057-03-20      | Fixed         | 0.90%                 | No            | 2                  | On Loan: No      |
| French Republic Government Bonds OAT              | French Republic Government Bonds OAT                                                                                                   | CUSIP: 000000000<br>LEI: 969500KCGF3SUYJHPV70 | Long             | DBT              | NUSS              | FR        |   1450000 | PA      | $1443308.23   | 1.81%             | 2034-05-25      | Fixed         | 1.25%                 | Yes           | 2                  | On Loan: No      |
| CZECH REPUBLIC                                    | Czech Republic Government Bond                                                                                                         | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |  20000000 | PA      | $817712.40    | 1.03%             | 2033-10-13      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| HELLENIC REPUBLIC                                 | Hellenic Republic Government Bond                                                                                                      | CUSIP: 000000000<br>LEI: 2138003EKTMKZ5598902 | Long             | DBT              | NUSS              | GR        |   1700000 | PA      | $1904507.75   | 2.39%             | 2030-06-18      | Fixed         | 1.50%                 | Yes           | 2                  | On Loan: No      |
| Japan Government Thirty Year Bonds                | Japan Government Thirty Year Bonds                                                                                                     | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        | 196200000 | PA      | $687013.14    | 0.86%             | 2050-09-20      | Fixed         | 0.60%                 | No            | 2                  | On Loan: No      |
| Japan Government Twenty Year Bonds                | Japan Government Twenty Year Bonds                                                                                                     | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        | 540550000 | PA      | $2536002.20   | 3.18%             | 2040-09-20      | Fixed         | 0.40%                 | No            | 2                  | On Loan: No      |
| NOTA DO TESOURO NACIONAL                          | Brazil Notas do Tesouro Nacional Serie F                                                                                               | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   2000000 | PA      | $308145.43    | 0.39%             | 2033-01-01      | Fixed         | 10.00%                | No            | 2                  | On Loan: No      |
| French Republic Government Bonds OAT              | French Republic Government Bonds OAT                                                                                                   | CUSIP: 000000000<br>LEI: 969500KCGF3SUYJHPV70 | Long             | DBT              | NUSS              | FR        |    700000 | PA      | $633549.61    | 0.79%             | 2054-05-25      | Fixed         | 3.00%                 | Yes           | 2                  | On Loan: No      |
| Australia Government Bonds                        | Australia Government Bonds                                                                                                             | CUSIP: 000000000<br>LEI: 213800J6B7JSBDETCB42 | Long             | DBT              | NUSS              | AU        |   1370000 | PA      | $835139.52    | 1.05%             | 2034-12-21      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Italy Buoni Poliennali Del Tesoro                 | Italy Buoni Poliennali Del Tesoro                                                                                                      | CUSIP: 000000000<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |   2230000 | PA      | $2746201.11   | 3.44%             | 2029-02-01      | Fixed         | 4.10%                 | No            | 2                  | On Loan: No      |
| Spain Government Bonds                            | Spain Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 9598007A56S18711AH60 | Long             | DBT              | NUSS              | ES        |    698000 | PA      | $803490.88    | 1.01%             | 2054-10-31      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| French Republic Government Bonds OAT              | French Republic Government Bonds OAT                                                                                                   | CUSIP: 000000000<br>LEI: 969500KCGF3SUYJHPV70 | Long             | DBT              | NUSS              | FR        |   2775000 | PA      | $3269779.71   | 4.10%             | 2030-02-25      | Fixed         | 2.75%                 | Yes           | 2                  | On Loan: No      |
| HELLENIC REPUBLIC                                 | Hellenic Republic Government Bond                                                                                                      | CUSIP: 000000000<br>LEI: 2138003EKTMKZ5598902 | Long             | DBT              | NUSS              | GR        |    125000 | PA      | $143345.02    | 0.18%             | 2054-06-15      | Fixed         | 4.13%                 | No            | 2                  | On Loan: No      |
| Italy Buoni Poliennali Del Tesoro                 | Italy Buoni Poliennali Del Tesoro                                                                                                      | CUSIP: 000000000<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |    248000 | PA      | $289267.57    | 0.36%             | 2054-10-01      | Fixed         | 4.30%                 | Yes           | 2                  | On Loan: No      |
| Italy Buoni Poliennali Del Tesoro                 | Italy Buoni Poliennali Del Tesoro                                                                                                      | CUSIP: 000000000<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |   1500000 | PA      | $1758155.01   | 2.20%             | 2046-04-30      | Fixed         | 4.10%                 | Yes           | 2                  | On Loan: No      |
| HELLENIC REPUBLIC                                 | Hellenic Republic Government Bond                                                                                                      | CUSIP: 000000000<br>LEI: 2138003EKTMKZ5598902 | Long             | DBT              | NUSS              | GR        |   1180000 | PA      | $1407691.67   | 1.76%             | 2035-06-15      | Fixed         | 3.63%                 | Yes           | 2                  | On Loan: No      |
| Finland Government Bonds                          | Finland Government Bonds                                                                                                               | CUSIP: 000000000<br>LEI: 743700M6Y2OQRVSBRD14 | Long             | DBT              | NUSS              | FI        |    279000 | PA      | $305837.58    | 0.38%             | 2045-04-15      | Fixed         | 3.20%                 | No            | 2                  | On Loan: No      |
| CROATIA                                           | Croatia Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 74780000O00QGQ7CER13 | Long             | DBT              | NUSS              | HR        |    442000 | PA      | $502465.62    | 0.63%             | 2037-02-11      | Fixed         | 3.25%                 | No            | 2                  | On Loan: No      |
| Norway Government Bonds                           | Norway Government Bonds                                                                                                                | CUSIP: 000000000<br>LEI: 549300L0BT3FJTN9MX24 | Long             | DBT              | NUSS              | NO        |   2500000 | PA      | $240197.63    | 0.30%             | 2035-06-12      | Fixed         | 3.75%                 | Yes           | 2                  | On Loan: No      |
| U.K. Gilts                                        | U.K. Gilts                                                                                                                             | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    400000 | PA      | $540082.79    | 0.68%             | 2035-03-07      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| REPUBLIC OF ALBANIA                               | Albania Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |    202000 | PA      | $240134.56    | 0.30%             | 2035-02-14      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| Spain Government Bonds                            | Spain Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 9598007A56S18711AH60 | Long             | DBT              | NUSS              | ES        |   1500000 | PA      | $1751271.27   | 2.20%             | 2035-10-31      | Fixed         | 3.20%                 | Yes           | 2                  | On Loan: No      |
| Italy Buoni Poliennali Del Tesoro                 | Italy Buoni Poliennali Del Tesoro                                                                                                      | CUSIP: 000000000<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |   2750000 | PA      | $3222427.75   | 4.04%             | 2030-10-01      | Fixed         | 2.70%                 | Yes           | 2                  | On Loan: No      |
| BONOS DE TESORERIA                                | Peru Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   1850000 | PA      | $592012.83    | 0.74%             | 2035-08-12      | Fixed         | 6.85%                 | No            | 2                  | On Loan: No      |
| Eurex Deutschland                                 | EURO-BOBL FUTURE MAR26                                                                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |       -11 | NC      | $5531.94      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                 | EURO-SCHATZ FUT MAR26                                                                                                                  | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |       -30 | NC      | $4510.30      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                 | EURO-BUND FUTURE MAR26                                                                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         6 | NC      | $-1518.85     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                 | EURO-BUXL 30Y BND MAR26                                                                                                                | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |       -11 | NC      | $9092.79      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                 | EURO-BTP FUTURE MAR26                                                                                                                  | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        -1 | NC      | $220.86       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                 | SHORT EURO-BTP FU MAR26                                                                                                                | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        65 | NC      | $-13142.56    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                            | US 10YR NOTE (CBT)MAR26                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        32 | NC      | $-28105.53    | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                            | US ULTRA BOND CBT MAR26                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -2 | NC      | $-1195.16     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                            | US 2YR NOTE (CBT) MAR26                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        27 | NC      | $-854.24      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures Europe - Financial Products Division  | LONG GILT FUTURE MAR26                                                                                                                 | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         8 | NC      | $6225.91      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| The Montreal Exchange / Bourse De Montreal        | CAN 10YR BOND FUT MAR26                                                                                                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | CA        |        -3 | NC      | $4012.88      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Osaka Exchange                                    | JPN 10Y BOND(OSE) MAR26                                                                                                                | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              |  | JP        |         1 | NC      | $-7159.73     | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| ASX Clear (Futures)                               | AUST 3YR BOND FUT MAR26                                                                                                                | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DIR              |  | AU        |       -54 | NC      | $5663.20      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| AUSTRALIAN DOLLAR                                 | AUSTRALIAN DOLLAR                                                                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | AU        |        10 | NS      | $6.61         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Spain Government Bonds                            | Spain Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 9598007A56S18711AH60 | Long             | DBT              | NUSS              | ES        |    615000 | PA      | $806745.77    | 1.01%             | 2041-07-30      | Fixed         | 4.70%                 | No            | 2                  | On Loan: No      |
| U.K. Gilts                                        | U.K. Gilts                                                                                                                             | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    275000 | PA      | $302380.39    | 0.38%             | 2060-01-22      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| U.K. Gilts                                        | U.K. Gilts                                                                                                                             | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    165000 | PA      | $160977.68    | 0.20%             | 2068-07-22      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| U.K. Gilts                                        | U.K. Gilts                                                                                                                             | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |   1125000 | PA      | $1509553.60   | 1.89%             | 2031-10-22      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                          | Republic of South Africa Government Bond                                                                                               | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   7000000 | PA      | $439810.14    | 0.55%             | 2035-02-28      | Fixed         | 8.88%                 | No            | 2                  | On Loan: No      |
| CANADIAN DOLLAR                                   | CANADIAN DOLLAR                                                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | CA        |        22 | NS      | $16.28        | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| EURO CURRENCY                                     | EURO CURRENCY                                                                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | N/A       |        36 | NS      | $42.60        | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| POUND STERLING                                    | POUND STERLING                                                                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | GB        |         1 | NS      | $1.21         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| JAPANESE YEN                                      | JAPANESE YEN                                                                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | JP        |        83 | NS      | $0.53         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| SOUTH KOREAN WON                                  | SOUTH KOREAN WON                                                                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | KR        |      4125 | NS      | $2.86         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| NORWEGIAN KRONE                                   | NORWEGIAN KRONE                                                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Short            |  |  | NO        |       -10 | NS      | $-0.99        | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| SWEDISH KRONA                                     | SWEDISH KRONA                                                                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | SE        |         4 | NS      | $0.41         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2026-01-21

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

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer