# EDGAR Filing Document

**Accession Number:** 0001065698
**File Stem:** 0001410368-26-050715
**Filing Date:** 2026-5
**Character Count:** 131885
**Document Hash:** f3717bbeb6158e2cb4017c1d1eaa0d38
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-050715.hdr.sgml**: 20260526

**ACCESSION NUMBER**: 0001410368-26-050715

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260526

**DATE AS OF CHANGE**: 20260526

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS VARIABLE INSURANCE TRUST III
- **CENTRAL INDEX KEY:** 0001065698

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08879
- **FILM NUMBER:** 261016301

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 617-954-5000

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUN CAPITAL ADVISERS TRUST
- **DATE OF NAME CHANGE:** 19980709

## Series and Classes Contracts Data

### MFS Inflation-Adjusted Bond Portfolio (Series ID: S000023378)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000068454 | Initial Class |  |
| C000068455 | Service Class |  |

## Nport-Ex

VIA-Q1

![](img91762c231.gif)

**Quarterly Report**

March 31, 2026

MFS<sup>®</sup> Inflation-Adjusted <br>

Bond Portfolio

![](img61f1a0cb2.gif)

MFS<sup>®</sup> Variable Insurance Trust III

------

**Portfolio of Investments**

3/31/26 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – 99.2%  | Bonds – 99.2%  | Bonds – 99.2%  |
| Asset-Backed & Securitized – 2.6% | Asset-Backed & Securitized – 2.6% | Asset-Backed & Securitized – 2.6% |
| 3650R Commercial Mortgage Trust, 2021-PF1, "XA", 0.99%, 11/15/2054 (i) | $2047888 | &nbsp;&nbsp;&nbsp; $68207 |
| Babson CLO Ltd., 2021-3A, "B1R", FLR, 5.297% (SOFR - 3mo. + 1.63%), 1/18/2035 (n) | 300000 | &nbsp;&nbsp;&nbsp; 299234 |
| BBCMS Mortgage Trust, 2021-C10, "XA", 1.194%, 7/15/2054 (i) | 1858854 | &nbsp;&nbsp;&nbsp; 86204 |
| BBCMS Mortgage Trust, 2021-C9, "XA", 1.55%, 2/15/2054 (i) | 1260753 | &nbsp;&nbsp;&nbsp; 73941 |
| Benchmark 2021-B23 Mortgage Trust, "XA", 1.254%, 2/15/2054 (i) | 4199367 | &nbsp;&nbsp;&nbsp; 180644 |
| Benchmark 2021-B24 Mortgage Trust, "XA", 1.128%, 3/15/2054 (i) | 2351315 | &nbsp;&nbsp;&nbsp; 87827 |
| Benchmark 2021-B27 Mortgage Trust, "XA", 1.232%, 7/15/2054 (i) | 3181220 | &nbsp;&nbsp;&nbsp; 140885 |
| Benchmark 2021-B28 Mortgage Trust, "XA", 1.236%, 8/15/2054 (i) | 3740104 | &nbsp;&nbsp;&nbsp; 175626 |
| Commercial Mortgage Pass-Through Certificates, 2021-BN31, "XA", 1.279%, 2/15/2054 (i) | 3173685 | &nbsp;&nbsp;&nbsp; 152498 |
| Commercial Mortgage Pass-Through Certificates, 2021-BN35, "XA", 1.024%, 6/15/2064 (i) | 1277867 | &nbsp;&nbsp;&nbsp; 48834 |
| Morgan Stanley Capital I Trust, 2021-L5, "XA", 1.26%, 5/15/2054 (i) | 1614259 | &nbsp;&nbsp;&nbsp; 67258 |
| Morgan Stanley Capital I Trust, 2021-L6, "XA", 1.144%, 6/15/2054 (i) | 1794061 | &nbsp;&nbsp;&nbsp; 64400 |
| New Residential Mortgage Loan Trust, 2026-NQM2, "A1", 4.743%, 12/25/2065 (n) | 390093 | &nbsp;&nbsp;&nbsp; 386147 |
| Palmer Square Loan Funding 2025-2A Ltd., "A2", FLR, 5.072% (SOFR - 3mo. + 1.4%), 7/15/2033 (n) | 625000 | &nbsp;&nbsp;&nbsp; 623346 |
| PMT Loan Trust, 2026-INV2, "A35", FLR, 4.812% (SOFR - 1mo. + 1.15%), 1/25/2057 (n) | 772058 | &nbsp;&nbsp;&nbsp; 771011 |
| Santander Drive Auto Receivables Trust, 2025-1, "A3", 4.74%, 1/16/2029  | 101661 | &nbsp;&nbsp;&nbsp; 101844 |
| Shackleton 2019-14A CLO Ltd., "BRR", FLR, 5.217% (SOFR - 3mo. + 1.55%), 7/20/2034 (n) | 406375 | &nbsp;&nbsp;&nbsp; 403768 |
| Wells Fargo Commercial Mortgage Trust, 2021-C60, "XA", 1.491%, 8/15/2054 (i) | 1407474 | &nbsp;&nbsp;&nbsp; 80389 |
|  |  | &nbsp;&nbsp;&nbsp; $3812063 |
| Consumer Services – 0.2% | Consumer Services – 0.2% | Consumer Services – 0.2% |
| Conservation Fund, 3.474%, 12/15/2029  | $312000 | &nbsp;&nbsp;&nbsp; $297709 |
| Emerging Market Sovereign – 2.3% | Emerging Market Sovereign – 2.3% | Emerging Market Sovereign – 2.3% |
| Oriental Republic of Uruguay, 3.7%, 6/26/2037  | 34715125 | &nbsp;&nbsp;&nbsp; $915174 |
| Republic of Chile, 4.7%, 9/01/2030  | 1000000000 | &nbsp;&nbsp;&nbsp; 1053175 |
| Republic of Peru, 6.85%, 8/12/2035  | 2000000 | &nbsp;&nbsp;&nbsp; 584971 |
| Republic of South Africa, 8.875%, 2/28/2035  | 13000000 | &nbsp;&nbsp;&nbsp; 754716 |
|  |  | &nbsp;&nbsp;&nbsp; $3308036 |
| International Market Sovereign – 48.4% | International Market Sovereign – 48.4% | International Market Sovereign – 48.4% |
| Commonwealth of Australia, Inflation Linked Bond, 0.25%, 11/21/2032  | 1745075 | &nbsp;&nbsp;&nbsp; $1052838 |
| Commonwealth of Australia, Inflation Linked Bond, 1.25%, 8/21/2040  | 599482 | &nbsp;&nbsp;&nbsp; 334798 |
| Government of Canada, Inflation Linked Bond, 4%, 12/01/2031  | 4631364 | &nbsp;&nbsp;&nbsp; 3885472 |
| Government of Canada, Inflation Linked Bond, 1.25%, 12/01/2047  | 1037182 | &nbsp;&nbsp;&nbsp; 669244 |
| Government of New Zealand, Inflation Linked Bond, 3%, 9/20/2030  | 3304862 | &nbsp;&nbsp;&nbsp; 2009510 |
| Kingdom of Spain, Inflation Linked Bond, 1%, 11/30/2030 (n) | 856840 | &nbsp;&nbsp;&nbsp; 1014911 |
| Kingdom of Spain, Inflation Linked Bond, 0.7%, 11/30/2033 (n) | 1866089 | &nbsp;&nbsp;&nbsp; 2109142 |
| Kingdom of Spain, Inflation Linked Bond, 2.05%, 11/30/2039 (n) | 2046623 | &nbsp;&nbsp;&nbsp; 2518163 |
| Kingdom of Sweden, Inflation Linked Bond, 0.125%, 6/01/2032  | 13467068 | &nbsp;&nbsp;&nbsp; 1329221 |
| Republic of France, Inflation Linked Bond, 0.7%, 7/25/2030 (n) | 628332 | &nbsp;&nbsp;&nbsp; 734784 |
| Republic of France, Inflation Linked Bond, 0.6%, 7/25/2034 (n) | 4303114 | &nbsp;&nbsp;&nbsp; 4734378 |
| Republic of France, Inflation Linked Bond, 0.1%, 7/25/2047 (n) | 497737 | &nbsp;&nbsp;&nbsp; 389594 |
| Republic of France, Inflation Linked Bond, 0.1%, 7/25/2053 (n) | 2073301 | &nbsp;&nbsp;&nbsp; 1454856 |
| Republic of Italy, Inflation Linked Bond, 1.25%, 9/15/2032 (n) | 10585482 | &nbsp;&nbsp;&nbsp; 12396370 |
| Republic of Italy, Inflation Linked Bond, 2.55%, 9/15/2041 (n) | 3077388 | &nbsp;&nbsp;&nbsp; 3828455 |
| Republic of Italy, Inflation Linked Bond, 0.15%, 5/15/2051 (n) | 1023827 | &nbsp;&nbsp;&nbsp; 708472 |
| United Kingdom Treasury, Inflation Linked Bond, 0.125%, 3/22/2029  | 3375531 | &nbsp;&nbsp;&nbsp; 4480678 |
| United Kingdom Treasury, Inflation Linked Bond, 0.125%, 8/10/2031  | 2553812 | &nbsp;&nbsp;&nbsp; 3308965 |
| United Kingdom Treasury, Inflation Linked Bond, 2%, 1/26/2035  | 2628456 | &nbsp;&nbsp;&nbsp; 3633417 |
| United Kingdom Treasury, Inflation Linked Bond, 1.125%, 11/22/2037  | 2582169 | &nbsp;&nbsp;&nbsp; 3246188 |
| United Kingdom Treasury, Inflation Linked Bond, 0.625%, 3/22/2040  | 3965974 | &nbsp;&nbsp;&nbsp; 4457831 |
| United Kingdom Treasury, Inflation Linked Bond, 0.625%, 11/22/2042  | 2371860 | &nbsp;&nbsp;&nbsp; 2546363 |
| United Kingdom Treasury, Inflation Linked Bond, 0.125%, 3/22/2044  | 501247 | &nbsp;&nbsp;&nbsp; 471961 |
| United Kingdom Treasury, Inflation Linked Bond, 0.125%, 3/22/2046  | 1155560 | &nbsp;&nbsp;&nbsp; 1035318 |
| United Kingdom Treasury, Inflation Linked Bond, 0.75%, 11/22/2047  | 2529160 | &nbsp;&nbsp;&nbsp; 2558979 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| International Market Sovereign – continued | International Market Sovereign – continued | International Market Sovereign – continued |
| United Kingdom Treasury, Inflation Linked Bond, 0.5%, 3/22/2050  | 380880 | &nbsp;&nbsp;&nbsp; $347725 |
| United Kingdom Treasury, Inflation Linked Bond, 0.25%, 3/22/2052  | 2493300 | &nbsp;&nbsp;&nbsp; 2058458 |
| United Kingdom Treasury, Inflation Linked Bond, 1.25%, 11/22/2055  | 721031 | &nbsp;&nbsp;&nbsp; 771311 |
| United Kingdom Treasury, Inflation Linked Bond, 0.125%, 3/22/2058  | 1278009 | &nbsp;&nbsp;&nbsp; 921788 |
| United Kingdom Treasury, Inflation Linked Bond, 0.375%, 3/22/2062  | 1109792 | &nbsp;&nbsp;&nbsp; 846980 |
| United Kingdom Treasury, Inflation Linked Bond, 0.125%, 11/22/2065  | 592979 | &nbsp;&nbsp;&nbsp; 387606 |
| United Kingdom Treasury, Inflation Linked Bond, 0.125%, 3/22/2068  | 1106734 | &nbsp;&nbsp;&nbsp; 708171 |
| United Kingdom Treasury, Inflation Linked Bond, 0.125%, 3/22/2073  | 224079 | &nbsp;&nbsp;&nbsp; 150992 |
|  |  | &nbsp;&nbsp;&nbsp; $71102939 |
| Medical & Health Technology & Services – 0.3% | Medical & Health Technology & Services – 0.3% | Medical & Health Technology & Services – 0.3% |
| ProMedica Toledo Hospital, "B", AGM, 5.325%, 11/15/2028  | $487000 | &nbsp;&nbsp;&nbsp; $494536 |
| Mortgage-Backed – 2.3% | Mortgage-Backed – 2.3% |  |
| Fannie Mae, 4%, 9/25/2050 (i) | $214036 | &nbsp;&nbsp;&nbsp; $41179 |
| Fannie Mae, 2.5%, 2/25/2051 (i) | 137599 | &nbsp;&nbsp;&nbsp; 19342 |
| Fannie Mae, 5.111%, 11/25/2053  | 171608 | &nbsp;&nbsp;&nbsp; 174639 |
| Fannie Mae, 5.061%, 12/25/2054  | 232424 | &nbsp;&nbsp;&nbsp; 234203 |
| Freddie Mac, 0.415%, 5/25/2029 (i) | 2538351 | &nbsp;&nbsp;&nbsp; 31522 |
| Freddie Mac, 0.437%, 7/25/2029 (i) | 1264362 | &nbsp;&nbsp;&nbsp; 31924 |
| Freddie Mac, 0.593%, 1/25/2030 (i) | 741755 | &nbsp;&nbsp;&nbsp; 14825 |
| Freddie Mac, 1.797%, 4/25/2030 (i) | 564669 | &nbsp;&nbsp;&nbsp; 36798 |
| Freddie Mac, 1.666%, 5/25/2030 (i) | 1221668 | &nbsp;&nbsp;&nbsp; 77723 |
| Freddie Mac, 1.168%, 9/25/2030 (i) | 646322 | &nbsp;&nbsp;&nbsp; 30167 |
| Freddie Mac, 0.713%, 12/25/2030 (i) | 184156 | &nbsp;&nbsp;&nbsp; 5208 |
| Freddie Mac, 0.318%, 1/25/2031 (i) | 4818830 | &nbsp;&nbsp;&nbsp; 56545 |
| Freddie Mac, 0.779%, 1/25/2031 (i) | 1882263 | &nbsp;&nbsp;&nbsp; 65302 |
| Freddie Mac, 0.935%, 1/25/2031 (i) | 1425035 | &nbsp;&nbsp;&nbsp; 56349 |
| Freddie Mac, 0.508%, 3/25/2031 (i) | 5864342 | &nbsp;&nbsp;&nbsp; 120716 |
| Freddie Mac, 1.213%, 5/25/2031 (i) | 709327 | &nbsp;&nbsp;&nbsp; 38633 |
| Freddie Mac, 0.937%, 7/25/2031 (i) | 1133380 | &nbsp;&nbsp;&nbsp; 51319 |
| Freddie Mac, 0.536%, 9/25/2031 (i) | 4635695 | &nbsp;&nbsp;&nbsp; 120709 |
| Freddie Mac, 0.854%, 9/25/2031 (i) | 1417400 | &nbsp;&nbsp;&nbsp; 57826 |
| Freddie Mac, 0.349%, 11/25/2031 (i) | 6965967 | &nbsp;&nbsp;&nbsp; 122912 |
| Freddie Mac, 0.496%, 12/25/2031 (i) | 6916623 | &nbsp;&nbsp;&nbsp; 167654 |
| Freddie Mac, 0.566%, 12/25/2031 (i) | 1130491 | &nbsp;&nbsp;&nbsp; 30544 |
| Freddie Mac, 0.266%, 5/25/2033 (i) | 3200000 | &nbsp;&nbsp;&nbsp; 63442 |
| Freddie Mac, 0.905%, 9/25/2034 (i) | 789814 | &nbsp;&nbsp;&nbsp; 53346 |
| Freddie Mac, 2.5%, 11/25/2050 (i) | 273197 | &nbsp;&nbsp;&nbsp; 45370 |
| Freddie Mac, 2.313%, 8/15/2057 (i) | 122593 | &nbsp;&nbsp;&nbsp; 16175 |
| Ginnie Mae, 4.972%, 10/20/2053  | 369921 | &nbsp;&nbsp;&nbsp; 373316 |
| Ginnie Mae, 5.022%, 10/20/2053  | 746135 | &nbsp;&nbsp;&nbsp; 753819 |
| Ginnie Mae, 4.872%, 12/20/2053  | 348903 | &nbsp;&nbsp;&nbsp; 351373 |
| Ginnie Mae, 7.622%, 5/20/2055  | 72025 | &nbsp;&nbsp;&nbsp; 73758 |
|  |  | &nbsp;&nbsp;&nbsp; $3316638 |
| U.S. Treasury Inflation Protected Securities – 42.1% | U.S. Treasury Inflation Protected Securities – 42.1% | U.S. Treasury Inflation Protected Securities – 42.1% |
| U.S. Treasury Bonds, 2.125%, 2/15/2040  | $1700447 | &nbsp;&nbsp;&nbsp; $1664036 |
| U.S. Treasury Bonds, 0.75%, 2/15/2042  | 10221322 | &nbsp;&nbsp;&nbsp; 7871234 |
| U.S. Treasury Bonds, 0.75%, 2/15/2045  | 3832886 | &nbsp;&nbsp;&nbsp; 2752211 |
| U.S. Treasury Bonds, 0.125%, 2/15/2052  | 4375658 | &nbsp;&nbsp;&nbsp; 2270060 |
| U.S. Treasury Bonds, 2.125%, 2/15/2054  | 679319 | &nbsp;&nbsp;&nbsp; 598695 |
| U.S. Treasury Notes, 0.5%, 1/15/2028  | 5755645 | &nbsp;&nbsp;&nbsp; 5710108 |
| U.S. Treasury Notes, 0.875%, 1/15/2029  | 10576671 | &nbsp;&nbsp;&nbsp; 10498311 |
| U.S. Treasury Notes, 0.125%, 1/15/2031 (f) | 13222929 | &nbsp;&nbsp;&nbsp; 12430808 |
| U.S. Treasury Notes, 0.125%, 1/15/2032  | 9480587 | &nbsp;&nbsp;&nbsp; 8724290 |
| U.S. Treasury Notes, 1.75%, 1/15/2034  | 9264811 | &nbsp;&nbsp;&nbsp; 9225211 |
|  |  | &nbsp;&nbsp;&nbsp; $61744964 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| U.S. Treasury Obligations – 1.0% | U.S. Treasury Obligations – 1.0% | U.S. Treasury Obligations – 1.0% |
| U.S. Treasury Notes, 1.875%, 1/15/2036  | $1525494 | &nbsp;&nbsp;&nbsp; $1507075 |
| **Total Bonds**  |  | &nbsp;&nbsp; **$145583960** |
| Mutual Funds (h) – 0.7%  | Mutual Funds (h) – 0.7%  | Mutual Funds (h) – 0.7%  |
| Money Market Funds – 0.7% | Money Market Funds – 0.7% |  |
| MFS Institutional Money Market Portfolio, 3.71% (v)  | 995674 | &nbsp;&nbsp;&nbsp; $995674 |
| Other Assets, Less Liabilities – 0.1% |  | &nbsp;&nbsp;&nbsp; 214684 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$146794318** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&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 $995,674 and $145,583,960, 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 $32,372,631, representing 22.1% 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| The following abbreviations are used in this report and are defined: | The following abbreviations are used in this report and are defined: |
| AGM | Assured Guaranty Municipal |
| CLO | Collateralized Loan Obligation |
| CPI-U | Consumer Price Index - Urban Consumers |
| 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 |
| Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise <br> indicated. A list of 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 <br> indicated. A list of abbreviations is shown below: |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| CZK | Czech Koruna |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| HUF | Hungarian Forint |
| JPY | Japanese Yen |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peruvian Nuevo Sol  |
| PLN | Polish Zloty |
| SEK | Swedish Krona |
| UYU | Uruguayan Peso |
| ZAR | South African Rand |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

*Portfolio of Investments (unaudited) – continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivative Contracts at 3/31/26** | **Derivative Contracts at 3/31/26** | **Derivative Contracts at 3/31/26** | **Derivative Contracts at 3/31/26** | **Derivative Contracts at 3/31/26** | **Derivative Contracts at 3/31/26** | **Derivative Contracts at 3/31/26** |
| **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; **Currency** <br>**Sold** | &nbsp;&nbsp; **Currency** <br>**Sold** | **Counterparty** | &nbsp;&nbsp; **Settlement** <br>**Date**<br>| **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |
| AUD | &nbsp;&nbsp; 2262666 | USD | &nbsp;&nbsp; 1518923 | Barclays Bank PLC | 4/17/2026 | &nbsp;&nbsp; $41916 |
| BRL | &nbsp;&nbsp; 3486794 | USD | &nbsp;&nbsp; 661490 | JPMorgan Chase Bank N.A. | 5/05/2026 | &nbsp;&nbsp; 7571 |
| EUR | &nbsp;&nbsp; 558642 | USD | &nbsp;&nbsp; 645670 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp; 495 |
| HUF | &nbsp;&nbsp; 356878685 | USD | &nbsp;&nbsp; 1069347 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp; 2689 |
| JPY | &nbsp;&nbsp; 433653391 | USD | &nbsp;&nbsp; 2726698 | Merrill Lynch International | 4/17/2026 | &nbsp;&nbsp; 9237 |
| NOK | &nbsp;&nbsp; 3873871 | USD | &nbsp;&nbsp; 384552 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp; 15513 |
| ZAR | &nbsp;&nbsp; 781071 | USD | &nbsp;&nbsp; 45866 | Barclays Bank PLC | 4/17/2026 | &nbsp;&nbsp; 242 |
| USD | &nbsp;&nbsp; 802073 | AUD | &nbsp;&nbsp; 1136284 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp; 18238 |
| USD | &nbsp;&nbsp; 776296 | AUD | &nbsp;&nbsp; 1099521 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp; 17821 |
| USD | &nbsp;&nbsp; 235560 | AUD | &nbsp;&nbsp; 332823 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp; 5971 |
| USD | &nbsp;&nbsp; 1536283 | CAD | &nbsp;&nbsp; 2126297 | Citibank N.A. | 4/17/2026 | &nbsp;&nbsp; 6701 |
| USD | &nbsp;&nbsp; 22804 | CAD | &nbsp;&nbsp; 31245 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp; 328 |
| USD | &nbsp;&nbsp; 743492 | CAD | &nbsp;&nbsp; 1028280 | Merrill Lynch International | 4/17/2026 | &nbsp;&nbsp; 3784 |
| USD | &nbsp;&nbsp; 404587 | CAD | &nbsp;&nbsp; 546654 | Morgan Stanley Capital Services LLC | 4/17/2026 | &nbsp;&nbsp; 11343 |
| USD | &nbsp;&nbsp; 765761 | CHF | &nbsp;&nbsp; 605937 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp; 6707 |
| USD | &nbsp;&nbsp; 256988 | CLP | &nbsp;&nbsp; 236212780 | Deutsche Bank AG | 5/15/2026 | &nbsp;&nbsp; 1808 |
| USD | &nbsp;&nbsp; 871099 | CLP | &nbsp;&nbsp; 753405000 | JPMorgan Chase Bank N.A. | 5/15/2026 | &nbsp;&nbsp; 57199 |
| USD | &nbsp;&nbsp; 465515 | CZK | &nbsp;&nbsp; 9828968 | Merrill Lynch International | 4/17/2026 | &nbsp;&nbsp; 2542 |
| USD | &nbsp;&nbsp; 32027 | DKK | &nbsp;&nbsp; 206400 | NatWest Markets PLC | 4/17/2026 | &nbsp;&nbsp; 84 |
| USD | &nbsp;&nbsp; 234211 | EUR | &nbsp;&nbsp; 202027 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp; 532 |
| USD | &nbsp;&nbsp; 2656215 | EUR | &nbsp;&nbsp; 2261788 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp; 40072 |
| USD | &nbsp;&nbsp; 694523 | GBP | &nbsp;&nbsp; 516278 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp; 11193 |
| USD | &nbsp;&nbsp; 1239343 | GBP | &nbsp;&nbsp; 922129 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp; 18842 |
| USD | &nbsp;&nbsp; 1600244 | JPY | &nbsp;&nbsp; 252396586 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp; 7865 |
| USD | &nbsp;&nbsp; 163931 | NZD | &nbsp;&nbsp; 270752 | Deutsche Bank AG | 4/17/2026 | &nbsp;&nbsp; 8267 |
| USD | &nbsp;&nbsp; 391536 | NZD | &nbsp;&nbsp; 653835 | Goldman Sachs International | 4/17/2026 | &nbsp;&nbsp; 15626 |
| USD | &nbsp;&nbsp; 1598426 | NZD | &nbsp;&nbsp; 2725085 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp; 31688 |
| USD | &nbsp;&nbsp; 819326 | PLN | &nbsp;&nbsp; 2955480 | Barclays Bank PLC | 4/17/2026 | &nbsp;&nbsp; 23191 |
| USD | &nbsp;&nbsp; 1434398 | SEK | &nbsp;&nbsp; 12766373 | Goldman Sachs International | 4/17/2026 | &nbsp;&nbsp; 84777 |
| USD | &nbsp;&nbsp; 1525250 | SEK | &nbsp;&nbsp; 14091011 | Merrill Lynch International | 4/17/2026 | &nbsp;&nbsp; 35592 |
| USD | &nbsp;&nbsp; 178974 | ZAR | &nbsp;&nbsp; 2999778 | Barclays Bank PLC | 4/17/2026 | &nbsp;&nbsp; 1894 |
| USD | &nbsp;&nbsp; 642666 | ZAR | &nbsp;&nbsp; 10597309 | Merrill Lynch International | 4/17/2026 | &nbsp;&nbsp; 17096 |
| USD | &nbsp;&nbsp; 393764 | ZAR | &nbsp;&nbsp; 6500231 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp; 10049 |
|  |  |  |  |  |  | &nbsp;&nbsp; $516873 |
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| AUD | &nbsp;&nbsp; 467429 | USD | &nbsp;&nbsp; 327549 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp; $(5105)<br>|
| CAD | &nbsp;&nbsp; 52892 | USD | &nbsp;&nbsp; 38449 | Morgan Stanley Capital Services LLC | 4/17/2026 | &nbsp;&nbsp; (400)<br>|
| CHF | &nbsp;&nbsp; 1195404 | USD | &nbsp;&nbsp; 1543949 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp; (46473)<br>|
| CZK | &nbsp;&nbsp; 9828968 | USD | &nbsp;&nbsp; 472727 | Citibank N.A. | 4/17/2026 | &nbsp;&nbsp; (9753)<br>|
| DKK | &nbsp;&nbsp; 195354 | USD | &nbsp;&nbsp; 31335 | Morgan Stanley Capital Services LLC | 4/17/2026 | &nbsp;&nbsp; (1101)<br>|
| DKK | &nbsp;&nbsp; 2083888 | USD | &nbsp;&nbsp; 326484 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp; (3974)<br>|
| EUR | &nbsp;&nbsp; 521451 | USD | &nbsp;&nbsp; 620504 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp; (17358)<br>|
| EUR | &nbsp;&nbsp; 564958 | USD | &nbsp;&nbsp; 668777 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp; (15308)<br>|
| EUR | &nbsp;&nbsp; 1817764 | USD | &nbsp;&nbsp; 2127014 | Merrill Lynch International | 4/17/2026 | &nbsp;&nbsp; (24462)<br>|
| EUR | &nbsp;&nbsp; 104090 | USD | &nbsp;&nbsp; 125763 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp; (5366)<br>|
| GBP | &nbsp;&nbsp; 420583 | USD | &nbsp;&nbsp; 575307 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp; (18636)<br>|
| GBP | &nbsp;&nbsp; 538255 | USD | &nbsp;&nbsp; 734363 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp; (21946)<br>|
| JPY | &nbsp;&nbsp; 249350539 | USD | &nbsp;&nbsp; 1640462 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp; (67300)<br>|
| NOK | &nbsp;&nbsp; 7193306 | USD | &nbsp;&nbsp; 756671 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp; (13799)<br>|
| NOK | &nbsp;&nbsp; 7033805 | USD | &nbsp;&nbsp; 735478 | UBS AG | 4/17/2026 | &nbsp;&nbsp; (9078)<br>|
| PLN | &nbsp;&nbsp; 3060930 | USD | &nbsp;&nbsp; 825780 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp; (1239)<br>|

---

------

*Portfolio of Investments (unaudited) – 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; **Currency**<br> **Sold** | &nbsp;&nbsp; **Currency**<br> **Sold** | **Counterparty** | &nbsp;&nbsp; **Settlement**<br> **Date**<br>| **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>|
| **Liability Derivatives - continued** | **Liability Derivatives - continued** | **Liability Derivatives - continued** | **Liability Derivatives - continued** | **Liability Derivatives - continued** | **Liability Derivatives - continued** | **Liability Derivatives - continued** |
| SEK | &nbsp;&nbsp; 3989738 | USD | &nbsp;&nbsp; 434934 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp; $(13152)<br>|
| ZAR | &nbsp;&nbsp; 6312010 | USD | &nbsp;&nbsp; 379569 | Goldman Sachs International | 4/17/2026 | &nbsp;&nbsp; (6965)<br>|
| USD | &nbsp;&nbsp; 37247 | AUD | &nbsp;&nbsp; 54087 | Merrill Lynch International | 4/17/2026 | &nbsp;&nbsp; (64)<br>|
| USD | &nbsp;&nbsp; 143387 | BRL | &nbsp;&nbsp; 775717 | Deutsche Bank AG | 5/05/2026 | &nbsp;&nbsp; (5461)<br>|
| USD | &nbsp;&nbsp; 509497 | BRL | &nbsp;&nbsp; 2711077 | JPMorgan Chase Bank N.A. | 5/05/2026 | &nbsp;&nbsp; (10715)<br>|
| USD | &nbsp;&nbsp; 221187 | EUR | &nbsp;&nbsp; 191811 | Barclays Bank PLC | 4/17/2026 | &nbsp;&nbsp; (675)<br>|
| USD | &nbsp;&nbsp; 670497 | EUR | &nbsp;&nbsp; 581298 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp; (1873)<br>|
| USD | &nbsp;&nbsp; 1048327 | HUF | &nbsp;&nbsp; 356878685 | HSBC Bank | 4/17/2026 | &nbsp;&nbsp; (23709)<br>|
| USD | &nbsp;&nbsp; 43116 | JPY | &nbsp;&nbsp; 6895157 | JPMorgan Chase Bank N.A. | 4/17/2026 | &nbsp;&nbsp; (386)<br>|
| USD | &nbsp;&nbsp; 28215 | PLN | &nbsp;&nbsp; 105450 | State Street Corp. | 4/17/2026 | &nbsp;&nbsp; (190)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; $(324488)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  |
| **Description** | **Long/** <br>**Short**<br>| **Currency** | **Contracts** | &nbsp;&nbsp; **Notional** <br>**Amount**<br>| &nbsp;&nbsp; **Expiration** <br>**Date**<br>| **Value/Unrealized** <br>**Appreciation** <br>**(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***  |  |  |
| Australian Bond 3 yr | &nbsp;&nbsp; Short | &nbsp;&nbsp; AUD | &nbsp;&nbsp; 89 | $6364986 | June – 2026 | &nbsp;&nbsp; $6473 |
| Euro-Bobl 5 yr | &nbsp;&nbsp; Short | &nbsp;&nbsp; EUR | &nbsp;&nbsp; 32 | 4269433 | June – 2026 | &nbsp;&nbsp; 54480 |
| Euro-BTP Short-Term | &nbsp;&nbsp; Long | &nbsp;&nbsp; EUR | &nbsp;&nbsp; 38 | 4649176 | June – 2026 | &nbsp;&nbsp; 4302 |
| Euro-Bund 10 yr | &nbsp;&nbsp; Short | &nbsp;&nbsp; EUR | &nbsp;&nbsp; 13 | 1884116 | June – 2026 | &nbsp;&nbsp; 16837 |
| Euro-Buxl 30 yr | &nbsp;&nbsp; Short | &nbsp;&nbsp; EUR | &nbsp;&nbsp; 19 | 2421437 | June – 2026 | &nbsp;&nbsp; 46512 |
| Japan Government Bond 10 yr | &nbsp;&nbsp; Short | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 2 | 1642166 | June – 2026 | &nbsp;&nbsp; 18884 |
|  |  |  |  |  |  | &nbsp;&nbsp; $147488 |
| **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***  |  |  |
| Canadian Treasury Bond 10 yr | &nbsp;&nbsp; Long | &nbsp;&nbsp; CAD | &nbsp;&nbsp; 27 | $2329286 | June – 2026 | &nbsp;&nbsp; $(46854)<br>|
| Euro-Oat 10 yr | &nbsp;&nbsp; Long | &nbsp;&nbsp; EUR | &nbsp;&nbsp; 17 | 2332194 | June – 2026 | &nbsp;&nbsp; (81192)<br>|
| Euro-Schatz 2 yr | &nbsp;&nbsp; Long | &nbsp;&nbsp; EUR | &nbsp;&nbsp; 74 | 9045104 | June – 2026 | &nbsp;&nbsp; (27998)<br>|
| U.S. Treasury Note 10 yr | &nbsp;&nbsp; Long | &nbsp;&nbsp; USD | &nbsp;&nbsp; 26 | 2887219 | June – 2026 | &nbsp;&nbsp; (45769)<br>|
| U.S. Treasury Note 2 yr | &nbsp;&nbsp; Long | &nbsp;&nbsp; USD | &nbsp;&nbsp; 55 | 11409492 | June – 2026 | &nbsp;&nbsp; (24556)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; $(226369)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** | &nbsp;&nbsp; **Notional** <br>**Amount**<br>| **Counterparty** | &nbsp;&nbsp; **Cash Flows** <br>**to Receive/** <br>**Frequency**<br>| &nbsp;&nbsp; **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** |  |  |  |
| ***Inflation Swaps***  | ***Inflation Swaps***  | ***Inflation Swaps***  | ***Inflation Swaps***  | ***Inflation Swaps***  | ***Inflation Swaps***  |  |  |  |
| 4/15/26 | USD | 4600000  | centrally cleared | CPI-U / At Maturity  | 2.6365% / At Maturity  | &nbsp;&nbsp; $2243 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2243 |
| 2/05/27 | USD | 8400000  | centrally cleared | CPI-U / At Maturity  | 2.755% / At Maturity  | &nbsp;&nbsp; 38199 | &nbsp;&nbsp; — | &nbsp;&nbsp; 38199 |
| 3/12/31 | USD | 6000000  | centrally cleared | CPI-U / At Maturity  | 2.498% / At Maturity  | &nbsp;&nbsp; 14504 | &nbsp;&nbsp; — | &nbsp;&nbsp; 14504 |
|  |  |  |  |  |  | &nbsp;&nbsp; $54946 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $54946 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Cleared Swap Agreements - continued**  | **Cleared Swap Agreements - continued**  | **Cleared Swap Agreements - continued**  | **Cleared Swap Agreements - continued**  | **Cleared Swap Agreements - continued**  | **Cleared Swap Agreements - continued**  | **Cleared Swap Agreements - continued**  | **Cleared Swap Agreements - continued**  | **Cleared Swap Agreements - continued**  |
| **Maturity**<br> **Date** | **Maturity**<br> **Date** | &nbsp;&nbsp; **Notional**<br> **Amount**<br>| **Counterparty** | &nbsp;&nbsp; **Cash Flows**<br> **to Receive/**<br> **Frequency**<br>| &nbsp;&nbsp; **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** |  |  |  |
| ***Inflation Swaps***  | ***Inflation Swaps***  | ***Inflation Swaps***  | ***Inflation Swaps***  | ***Inflation Swaps***  | ***Inflation Swaps***  |  |  |  |
| 3/20/27 | USD | 7550000  | centrally cleared | CPI-U / At Maturity  | 3.291% / At Maturity  | &nbsp;&nbsp; $(4549)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(4549)<br>|
| 3/15/28 | EUR | 6500000  | centrally cleared | HCIP / Annually  | 2.976% / Annually  | &nbsp;&nbsp; (47197)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (47197)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; $(51746)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(51746)<br>|

---

At March 31, 2026, the fund had liquid securities collateral with an aggregate value of $942,026 to cover any collateral or margin obligations for certain derivative contracts.

See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.

------

**Supplemental Information**

3/31/26 (unaudited)

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.

**(1) 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. 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. 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).

------

*Supplemental Information (unaudited) – continued*

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 March 31, 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 Agencies & Equivalents | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $63252039 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $63252039 |
| Non - U.S. Sovereign Debt | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 74410975 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 74410975 |
| U.S. Corporate Bonds | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 792245 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 792245 |
| Residential Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4473796 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4473796 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1226713 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1226713 |
| Asset-Backed Securities (including CDOs) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1428192 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1428192 |
| Investment Companies | &nbsp;&nbsp;&nbsp; 995674 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 995674 |
| Total | &nbsp;&nbsp;&nbsp; $995674 | &nbsp;&nbsp;&nbsp; $145583960 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $146579634 |
| **Other Financial Instruments** |  |  |  |  |
| Futures Contracts – Assets | &nbsp;&nbsp;&nbsp; $147488 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $147488 |
| Futures Contracts – Liabilities | &nbsp;&nbsp;&nbsp; (226369)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (226369)<br>|
| Forward Foreign Currency Exchange Contracts – Assets | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 516873 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 516873 |
| Forward Foreign Currency Exchange Contracts – Liabilities | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (324488)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (324488)<br>|
| Swap Agreements – Assets | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 54946 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 54946 |
| Swap Agreements – Liabilities | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (51746)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (51746)<br>|

---

For further information regarding security characteristics, see the Portfolio of Investments.

**(2) 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 period ended March 31, 2026:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $3266131 | &nbsp;&nbsp; $10989063 | &nbsp;&nbsp; $13259225 | &nbsp;&nbsp; $(188)<br>| &nbsp;&nbsp; $(107)<br>| &nbsp;&nbsp; $995674<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $16936 | &nbsp;&nbsp; $— |

---

**(3) Issuer Country Weightings**

Issuer country weighting percentages of portfolio holdings based on net assets, as of March 31, 2026, are as follows:

---

| | |
|:---|:---|
| United States | 43.0% |
| United Kingdom | 21.7% |
| Italy | 14.7% |
| France | 6.6% |
| Supranational | 5.1% |
| Canada | 4.7% |
| Spain | 3.9% |
| New Zealand | 1.4% |
| Australia | (3.4)% |
| Other Countries | 2.3% |

---

The issuer country weighting percentages include both accrued interest amounts and the equivalent exposure from any derivative holdings, if applicable.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-08879

- **c. CIK number of Registrant:** 0001065698

- **d. LEI of Registrant:** 549300QPPZUNGK3D0K61

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

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

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

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

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

- **a. Name of Series:** MFS Inflation-Adjusted Bond Portfolio

- **b. EDGAR series identifier (if any):** S000023378

- **c. LEI of Series:** 5493008RHGZT7FZTCC74

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $147585856.58

**Total Liabilities:** $759208.97

**Net Assets:** $146826647.61

**Cash Not Reported:** $97068.59

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -15.37000000 | **1-Year:** -498.53000000 | **5-Year:** -2066.30000000 | **10-Year:** -1074.92000000 | **30-Year:** -50.70000000

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

- **3-Month:** -6.88000000 | **1-Year:** -100.40000000 | **5-Year:** -146.95000000 | **10-Year:** -8.69000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000068454 | 1.48%                | 1.46%                | -3.24%               |
| Class ID C000068455 | 1.50%                | 1.48%                | -3.28%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-268558.83              | $2931863.19                                |
| Month 2  | $-791480.10              | $2571355.77                                |
| Month 3  | $-958823.28              | $-4006632.30                               |

**Designated Index Information**

- **Index Name:** Barclays Capital World Government Inflation Linked

- **Index Identifier:** LF94TRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Barclays Commercial Mortgage Securities LLC      | BBCMS Mortgage Trust 2021-C9                                                                                                           | CUSIP: 05493EAZ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1260753 | PA      | $73940.75     | 0.05%             | 2054-02-15      | Variable      | 1.55%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC      | BBCMS Trust 2021-C10                                                                                                                   | CUSIP: 05551VBK8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1858854 | PA      | $86203.98     | 0.06%             | 2054-07-15      | Variable      | 1.19%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2021-BNK35                                                                                                                        | CUSIP: 06540CBL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1277867 | PA      | $48833.56     | 0.03%             | 2064-06-15      | Variable      | 1.02%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2021-BNK31                                                                                                                        | CUSIP: 06541ABM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3173685 | PA      | $152497.49    | 0.10%             | 2054-02-15      | Variable      | 1.28%                 | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                                   | Barings Clo Ltd 2021-III                                                                                                               | CUSIP: 06762TAN1<br>LEI: 549300V1VT2NXKFG0H98 | Long             | ABS-CBDO         | CORP              | KY        |     300000 | PA      | $299234.10    | 0.20%             | 2035-01-18      | Floating      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                         | Benchmark 2021-B23 Mortgage Trust                                                                                                      | CUSIP: 08162RAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4199367 | PA      | $180643.77    | 0.12%             | 2054-02-15      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                         | Benchmark 2021-B24 Mortgage Trust                                                                                                      | CUSIP: 08163CBE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2351315 | PA      | $87827.26     | 0.06%             | 2054-03-15      | Variable      | 1.13%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                         | Benchmark 2021-B28 Mortgage Trust                                                                                                      | CUSIP: 08163GAZ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3740104 | PA      | $175626.30    | 0.12%             | 2054-08-15      | Variable      | 1.24%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                         | Benchmark 2021-B27 Mortgage Trust                                                                                                      | CUSIP: 08163HAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3181220 | PA      | $140884.77    | 0.10%             | 2054-07-15      | Variable      | 1.23%                 | No            |                  2 | On Loan: No      |
| CANADIAN GOVERNMENT RRB                          | Canadian Government Real Return Bond                                                                                                   | CUSIP: 135087B94<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |    1037182 | PA      | $669244.04    | 0.46%             | 2047-12-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| CANADIAN GOVERNMENT RRB                          | Canadian Government Real Return Bond                                                                                                   | CUSIP: 135087WV2<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |    4631364 | PA      | $3885471.69   | 2.65%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONSERVATION FUND                                | Conservation Fund A Nonprofit Corp/The                                                                                                 | CUSIP: 20848FAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     312000 | PA      | $297708.63    | 0.20%             | 2029-12-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $3645.81      | 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      | $-400.09      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $2058.59      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA NA                                 | PURCHASED NOK / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | NO        |          1 | NC      | $15512.99     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                | PURCHASED USD / SOLD PLN                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $23190.62     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                | PURCHASED AUD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | AU        |          1 | NC      | $41916.10     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED USD / SOLD NZD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |          1 | NC      | $5455.25      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch International                      | PURCHASED USD / SOLD CAD                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | US        |          1 | NC      | $3505.40      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD JPY                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $7864.72      | 0.01%             |  |  |  | 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      | $-13151.55    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                      | PURCHASED CZK / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CZ        |          1 | NC      | $-9753.35     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED HUF / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | HU        |          1 | NC      | $2689.32      | 0.00%             |  |  |  | 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      | $-3974.52     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch International                      | PURCHASED USD / SOLD ZAR                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | US        |          1 | NC      | $17096.36     | 0.01%             |  |  |  | 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      | $10049.30     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch International                      | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | N/A       |          1 | NC      | $-24461.58    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA NA                                 | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |          1 | NC      | $11192.80     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC              | PURCHASED DKK / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | DK        |          1 | NC      | $-1101.26     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | N/A       |          1 | NC      | $-5365.83     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED AUD / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | AU        |          1 | NC      | $-5105.08     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC              | PURCHASED USD / SOLD CAD                                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |          1 | NC      | $11343.12     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD BRL                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $-10715.40    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED JPY / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | JP        |          1 | NC      | $-67300.01    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA NA                                 | PURCHASED GBP / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | GB        |          1 | NC      | $-18635.90    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | N/A       |          1 | NC      | $-15307.62    | -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      | $8267.04      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED GBP / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | GB        |          1 | NC      | $-21945.56    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $14622.16     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                      | PURCHASED USD / SOLD SEK                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $84777.25     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED NOK / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | NO        |          1 | NC      | $-13799.10    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch International                      | PURCHASED USD / SOLD SEK                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | US        |          1 | NC      | $23364.33     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $11704.06     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD CLP                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $57198.67     | 0.04%             |  |  |  | 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      | $-17357.98    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD AUD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $17820.93     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                      | PURCHASED USD / SOLD NZD                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $15625.44     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED USD / SOLD AUD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |          1 | NC      | $5970.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA NA                                 | PURCHASED USD / SOLD AUD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |          1 | NC      | $18238.38     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED USD / SOLD NZD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |          1 | NC      | $26232.53     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $23708.15     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED CHF / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | CH        |          1 | NC      | $-46473.21    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA NA                                 | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |          1 | NC      | $532.11       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Markets PLC                              | PURCHASED USD / SOLD DKK                                                                                                               | CUSIP: 000000000<br>LEI: RR3QWICWWIPCS8A4S074 | N/A              | DFE              |  | US        |          1 | NC      | $83.89        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA NA                                 | PURCHASED USD / SOLD HUF                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |          1 | NC      | $-5384.40     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                | PURCHASED USD / SOLD ZAR                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $1894.18      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $893.76       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                 | PURCHASED USD / SOLD BRL                                                                                                               | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |          1 | NC      | $-5461.02     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch International                      | PURCHASED USD / SOLD CZK                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | US        |          1 | NC      | $2542.06      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA NA                                 | PURCHASED PLN / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | PL        |          1 | NC      | $-1239.34     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                 | PURCHASED USD / SOLD CLP                                                                                                               | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |          1 | NC      | $1807.90      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank USA NA                                 | PURCHASED USD / SOLD HUF                                                                                                               | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |          1 | NC      | $-18325.06    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                      | PURCHASED ZAR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | ZA        |          1 | NC      | $-6964.99     | -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      | $1013.87      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED BRL / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | BR        |          1 | NC      | $7570.60      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD GBP                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $1267.35      | 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      | $-1872.73     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch International                      | PURCHASED JPY / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | JP        |          1 | NC      | $9237.53      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD CAD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $327.77       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED USD / SOLD PLN                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |          1 | NC      | $-190.34      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch International                      | PURCHASED USD / SOLD SEK                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | US        |          1 | NC      | $1224.24      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch International                      | PURCHASED USD / SOLD SEK                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | US        |          1 | NC      | $11004.28     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                           | PURCHASED NOK / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | NO        |          1 | NC      | $-9077.91     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch International                      | PURCHASED USD / SOLD CAD                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | US        |          1 | NC      | $278.24       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | N/A       |          1 | NC      | $494.65       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD CHF                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $6706.88      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                | PURCHASED ZAR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | ZA        |          1 | NC      | $241.62       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                      | PURCHASED USD / SOLD CAD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |          1 | NC      | $6701.22      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $-674.55      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                           | PURCHASED USD / SOLD JPY                                                                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |          1 | NC      | $-386.04      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch International                      | PURCHASED USD / SOLD AUD                                                                                                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | US        |          1 | NC      | $-63.49       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae REMICS                                                                                                                      | CUSIP: 3136BBTT9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     214036 | PA      | $41178.68     | 0.03%             | 2050-09-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae REMICS                                                                                                                      | CUSIP: 3136BDV96<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     137599 | PA      | $19342.20     | 0.01%             | 2051-02-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae REMICS                                                                                                                      | CUSIP: 3136BQRD3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     171608 | PA      | $174638.99    | 0.12%             | 2053-11-25      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae REMICS                                                                                                                      | CUSIP: 3136BT7D9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     232424 | PA      | $234202.68    | 0.16%             | 2054-12-25      | Floating      | 5.06%                 | 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        |     646322 | PA      | $30167.53     | 0.02%             | 2030-09-25      | Variable      | 1.17%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac REMICS                                                                                                                     | CUSIP: 3137F6JS7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     273197 | PA      | $45369.76     | 0.03%             | 2050-11-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs. | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137F9YZ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     184156 | PA      | $5207.69      | 0.00%             | 2030-12-25      | Variable      | 0.71%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs. | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137F9Z38<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1425035 | PA      | $56348.88     | 0.04%             | 2031-01-25      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs. | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137F9ZC8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1882263 | PA      | $65302.10     | 0.04%             | 2031-01-25      | Variable      | 0.78%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac REMICS                                                                                                                     | CUSIP: 3137FKAV8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     122593 | PA      | $16174.78     | 0.01%             | 2057-08-15      | Floating      | 2.31%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs. | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137FTG43<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     564669 | PA      | $36798.24     | 0.03%             | 2030-04-25      | Variable      | 1.80%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs. | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137FUZZ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1221668 | PA      | $77723.25     | 0.05%             | 2030-05-25      | Variable      | 1.67%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs. | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137FXZ50<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    4818830 | PA      | $56544.64     | 0.04%             | 2031-01-25      | Variable      | 0.32%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs. | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137FYUL8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    5864342 | PA      | $120716.30    | 0.08%             | 2031-03-25      | Variable      | 0.51%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs. | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137H13T1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     709327 | PA      | $38632.71     | 0.03%             | 2031-05-25      | Variable      | 1.21%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs. | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137H2NA8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1133380 | PA      | $51318.77     | 0.03%             | 2031-07-25      | Variable      | 0.94%                 | 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        |    1417400 | PA      | $57825.95     | 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        |    4635695 | PA      | $120708.86    | 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        |    6965967 | PA      | $122911.70    | 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        |    1130491 | PA      | $30544.17     | 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        |    6916623 | PA      | $167654.10    | 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: 3137HAAL0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3200000 | PA      | $63442.24     | 0.04%             | 2033-05-25      | Variable      | 0.27%                 | 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        |    2538351 | PA      | $31522.51     | 0.02%             | 2029-05-25      | Variable      | 0.41%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs. | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137HFP33<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1264362 | PA      | $31924.26     | 0.02%             | 2029-07-25      | Variable      | 0.44%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs. | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137HHJ44<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     789814 | PA      | $53346.25     | 0.04%             | 2034-09-25      | Variable      | 0.91%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs. | Freddie Mac Multifamily Structured Pass Through Certificates                                                                           | CUSIP: 3137HKSB1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     741755 | PA      | $14824.72     | 0.01%             | 2030-01-25      | Variable      | 0.59%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    2628456 | PA      | $3633417.36   | 2.47%             | 2035-01-26      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association         | Government National Mortgage Association                                                                                               | CUSIP: 38384DAZ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     746135 | PA      | $753818.78    | 0.51%             | 2053-10-20      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association         | Government National Mortgage Association                                                                                               | CUSIP: 38384DGD3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     369921 | PA      | $373315.85    | 0.25%             | 2053-10-20      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association         | Government National Mortgage Association                                                                                               | CUSIP: 38384GMH0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     348903 | PA      | $351372.81    | 0.24%             | 2053-12-20      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association         | Government National Mortgage Association                                                                                               | CUSIP: 38385GFS3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      72025 | PA      | $73758.17     | 0.05%             | 2055-05-20      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| MFS Institutional Money Market Portfolio         | MFS Institutional Money Market Portfolio                                                                                               | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | EC               | RF                | US        |     988599 | NS      | $988599.02    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Capital I Trust                   | Morgan Stanley Capital I Trust 2021-L5                                                                                                 | CUSIP: 61691YAP6<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |    1614259 | PA      | $67258.43     | 0.05%             | 2054-05-15      | Variable      | 1.26%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                   | Morgan Stanley Capital I Trust 2021-L6                                                                                                 | CUSIP: 61692CBK3<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |    1794061 | PA      | $64400.32     | 0.04%             | 2054-06-15      | Variable      | 1.14%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust              | New Residential Mortgage Loan Trust 2026-NQM2                                                                                          | CUSIP: 64832MAE1<br>LEI: 213800ZF5DPBUAR45104 | Long             | ABS-MBS          | CORP              | US        |     390093 | PA      | $386146.90    | 0.26%             | 2065-12-25      | Variable      | 4.74%                 | Yes           |                  2 | On Loan: No      |
| PMT Loan Trust                                   | PMT Loan Trust 2026-INV2                                                                                                               | CUSIP: 69383NBM2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     772058 | PA      | $771010.87    | 0.53%             | 2057-01-25      | Floating      | 4.81%                 | Yes           |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                   | Palmer Square Loan Funding 2025-2 Ltd                                                                                                  | CUSIP: 69704AAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     625000 | PA      | $623346.25    | 0.42%             | 2033-07-15      | Floating      | 5.07%                 | Yes           |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                         | Uruguay Government International Bond                                                                                                  | CUSIP: 760942AV4<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |   34715125 | PA      | $915174.23    | 0.62%             | 2037-06-26      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust           | Santander Drive Auto Receivables Trust 2025-1                                                                                          | CUSIP: 80288DAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     101662 | PA      | $101844.44    | 0.07%             | 2029-01-16      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| Shackleton CLO LTD                               | Shackleton 2019-XIV Clo Ltd                                                                                                            | CUSIP: 81880XAY8<br>LEI: 549300HOHPZON6E4VH77 | Long             | ABS-CBDO         | CORP              | KY        |     406375 | PA      | $403768.10    | 0.27%             | 2034-07-20      | Floating      | 5.22%                 | Yes           |                  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        |    2047888 | PA      | $68206.96     | 0.05%             | 2054-11-15      | Variable      | 0.99%                 | No            |                  2 | On Loan: No      |
| TOLEDO HOSPITAL/THE                              | Toledo Hospital/The                                                                                                                    | CUSIP: 889184AF4<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |     487000 | PA      | $494536.29    | 0.34%             | 2028-11-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Inflation-Indexed Bonds                                                                                                  | CUSIP: 912810QF8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1700447 | PA      | $1664036.18   | 1.13%             | 2040-02-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Inflation-Indexed Bonds                                                                                                  | CUSIP: 912810QV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   10221321 | PA      | $7871234.59   | 5.36%             | 2042-02-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Inflation-Indexed Bonds                                                                                                  | CUSIP: 912810RL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    3832886 | PA      | $2752210.64   | 1.87%             | 2045-02-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Inflation-Indexed Bonds                                                                                                  | CUSIP: 912810TE8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    4375658 | PA      | $2270059.78   | 1.55%             | 2052-02-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Inflation-Indexed Bonds                                                                                                  | CUSIP: 912810TY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     679319 | PA      | $598694.94    | 0.41%             | 2054-02-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Inflation-Indexed Notes                                                                                                  | CUSIP: 9128283R9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    5755645 | PA      | $5710107.66   | 3.89%             | 2028-01-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Inflation-Indexed Notes                                                                                                  | CUSIP: 9128285W6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   10576671 | PA      | $10498310.77  | 7.15%             | 2029-01-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Inflation-Indexed Notes                                                                                                  | CUSIP: 91282CBF7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   13222929 | PA      | $12430808.18  | 8.47%             | 2031-01-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Inflation-Indexed Notes                                                                                                  | CUSIP: 91282CDX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    9480587 | PA      | $8724290.04   | 5.94%             | 2032-01-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Inflation-Indexed Notes                                                                                                  | CUSIP: 91282CJY8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    9264811 | PA      | $9225211.50   | 6.28%             | 2034-01-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Inflation-Indexed Notes                                                                                                  | CUSIP: 91282CPU9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1525494 | PA      | $1507074.60   | 1.03%             | 2036-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust            | Wells Fargo Commercial Mortgage Trust 2021-C60                                                                                         | CUSIP: 95003DBP2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1407474 | PA      | $80389.01     | 0.05%             | 2054-08-15      | Variable      | 1.49%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                         | Long: BM11591   IRS USD R V 12MUSCPI SM11591_FLO CCPINFLATIONZERO / Short: BM11591   IRS USD P F  2.63650 SM11591_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    4600000 | OU      | $2243.37      | 0.00%             |  |  |  | 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        |    8400000 | OU      | $38199.59     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                         | Long: BM12010   IRS USD R V 12MUSCPI SM12010_FLO CCPINFLATIONZERO / Short: BM12010   IRS USD P F  2.49750 SM12010_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    6000000 | OU      | $14503.86     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                         | Long: BM12022   IRS USD R V 12MUSCPI SM12022_FLO CCPINFLATIONZERO / Short: BM12022   IRS USD P F  3.29050 SM12022_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    7550000 | OU      | $-4548.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                         | Long: BM12023   IRS EUR R V 12MCPTEE SM12023 CCPINFLATIONZERO / Short: BM12023   IRS EUR P F  2.97600 SM12023 CCPINFLATIONZERO         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    6500000 | OU      | $-47196.75    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    1109792 | PA      | $846980.21    | 0.58%             | 2062-03-22      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    3375532 | PA      | $4480677.87   | 3.05%             | 2029-03-22      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     501247 | PA      | $471961.10    | 0.32%             | 2044-03-22      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    2493300 | PA      | $2058458.10   | 1.40%             | 2052-03-22      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| NEW ZEALAND GVT ILB                              | New Zealand Government Inflation Linked Bond                                                                                           | CUSIP: 000000000<br>LEI: 549300237GPHG2AI7C34 | Long             | DBT              | NUSS              | NZ        |    3304862 | PA      | $2009510.04   | 1.37%             | 2030-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SPAIN I/L BOND                                   | Spain Government Inflation Linked Bond                                                                                                 | CUSIP: 000000000<br>LEI: 9598007A56S18711AH60 | Long             | DBT              | NUSS              | ES        |     856840 | PA      | $1014910.57   | 0.69%             | 2030-11-30      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| AUSTRALIAN GOVERNMENT                            | Australia Government Bond                                                                                                              | CUSIP: 000000000<br>LEI: 213800J6B7JSBDETCB42 | Long             | DBT              | NUSS              | AU        |     599482 | PA      | $334798.43    | 0.23%             | 2040-08-21      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS                            | Bonos de la Tesoreria de la Republica en pesos                                                                                         | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        | 1000000000 | PA      | $1053175.02   | 0.72%             | 2030-09-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BUONI POLIENNALI DEL TES                         | Italy Buoni Poliennali Del Tesoro                                                                                                      | CUSIP: 000000000<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |    1023827 | PA      | $708472.25    | 0.48%             | 2051-05-15      | Fixed         | 0.15%                 | Yes           |                  2 | On Loan: No      |
| AUSTRALIAN GOVERNMENT                            | Australia Government Bond                                                                                                              | CUSIP: 000000000<br>LEI: 213800J6B7JSBDETCB42 | Long             | DBT              | NUSS              | AU        |    1745075 | PA      | $1052838.15   | 0.72%             | 2032-11-21      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| FRANCE (GOVT OF)                                 | French Republic Government Bond OAT                                                                                                    | CUSIP: 000000000<br>LEI: 969500KCGF3SUYJHPV70 | Long             | DBT              | NUSS              | FR        |    2073301 | PA      | $1454855.63   | 0.99%             | 2053-07-25      | Fixed         | 0.10%                 | Yes           |                  2 | On Loan: No      |
| FRANCE (GOVT OF)                                 | French Republic Government Bond OAT                                                                                                    | CUSIP: 000000000<br>LEI: 969500KCGF3SUYJHPV70 | Long             | DBT              | NUSS              | FR        |    4303114 | PA      | $4734378.37   | 3.22%             | 2034-07-25      | Fixed         | 0.60%                 | Yes           |                  2 | On Loan: No      |
| SPAIN I/L BOND                                   | Spain Government Inflation Linked Bond                                                                                                 | CUSIP: 000000000<br>LEI: 9598007A56S18711AH60 | Long             | DBT              | NUSS              | ES        |    2046623 | PA      | $2518163.08   | 1.72%             | 2039-11-30      | Fixed         | 2.05%                 | Yes           |                  2 | On Loan: No      |
| BONOS DE TESORERIA                               | Peru Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    2000000 | PA      | $584970.39    | 0.40%             | 2035-08-12      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                | EURO-BOBL FUTURE JUN26                                                                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        -32 | NC      | $54479.57     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                | EURO-BUND FUTURE JUN26                                                                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        -21 | NC      | $42346.34     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                | EURO-OAT FUTURE JUN26                                                                                                                  | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         17 | NC      | $-81191.94    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                | EURO-SCHATZ FUT JUN26                                                                                                                  | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         62 | NC      | $-27691.29    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                | SHORT EURO-BTP FU JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         38 | NC      | $4302.19      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                | EURO-BUXL 30Y BND JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        -19 | NC      | $46512.19     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                           | US 10YR NOTE (CBT)JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         26 | NC      | $-45768.97    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| The Montreal Exchange/Bourse De Montreal         | CAN 10YR BOND FUT JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 549300DKBYNOI0B1NP44 | N/A              | DIR              |  | CA        |         27 | NC      | $-46854.35    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                           | US 2YR NOTE (CBT) JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         55 | NC      | $-24556.04    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe - Financial Products Division | LONG GILT FUTURE JUN26                                                                                                                 | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              |  | GB        |         -2 | NC      | $5949.13      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ASX Clear (Futures)                              | AUST 3YR BOND FUT JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DIR              |  | AU        |        -89 | NC      | $6472.33      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Exchange                                   | JPN 10Y BOND(OSE) JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              |  | JP        |         -2 | NC      | $18884.09     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AUSTRALIAN DOLLAR                                | AUSTRALIAN DOLLAR                                                                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | AU        |          8 | NS      | $5.24         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     721031 | PA      | $771311.15    | 0.53%             | 2055-11-22      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    2582169 | PA      | $3246188.45   | 2.21%             | 2037-11-22      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    2529160 | PA      | $2558978.60   | 1.74%             | 2047-11-22      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    3965974 | PA      | $4457830.78   | 3.04%             | 2040-03-22      | Fixed         | 0.63%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    2371860 | PA      | $2546362.84   | 1.73%             | 2042-11-22      | Fixed         | 0.63%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     380880 | PA      | $347724.60    | 0.24%             | 2050-03-22      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| BUONI POLIENNALI DEL TES                         | Italy Buoni Poliennali Del Tesoro                                                                                                      | CUSIP: 000000000<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |    3077388 | PA      | $3828454.92   | 2.61%             | 2041-09-15      | Fixed         | 2.55%                 | Yes           |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     592979 | PA      | $387606.44    | 0.26%             | 2065-11-22      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    1106734 | PA      | $708171.54    | 0.48%             | 2068-03-22      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| SPAIN I/L BOND                                   | Spain Government Inflation Linked Bond                                                                                                 | CUSIP: 000000000<br>LEI: 9598007A56S18711AH60 | Long             | DBT              | NUSS              | ES        |    1866089 | PA      | $2109141.55   | 1.44%             | 2033-11-30      | Fixed         | 0.70%                 | Yes           |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     224079 | PA      | $150991.55    | 0.10%             | 2073-03-22      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| FRANCE (GOVT OF)                                 | French Republic Government Bond OAT                                                                                                    | CUSIP: 000000000<br>LEI: 969500KCGF3SUYJHPV70 | Long             | DBT              | NUSS              | FR        |     628332 | PA      | $734783.83    | 0.50%             | 2030-07-25      | Fixed         | 0.70%                 | Yes           |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    2553812 | PA      | $3308964.85   | 2.25%             | 2031-08-10      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    1278009 | PA      | $921788.36    | 0.63%             | 2058-03-22      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| SWEDEN I/L BOND                                  | Sweden Inflation Linked Bond                                                                                                           | CUSIP: 000000000<br>LEI: ERE94C0BSULG2RM19605 | Long             | DBT              | NUSS              | SE        |   13467068 | PA      | $1329220.72   | 0.91%             | 2032-06-01      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                          | United Kingdom Inflation-Linked Gilt                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    1155560 | PA      | $1035318.24   | 0.71%             | 2046-03-22      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| BUONI POLIENNALI DEL TES                         | Italy Buoni Poliennali Del Tesoro                                                                                                      | CUSIP: 000000000<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |   10585482 | PA      | $12396370.08  | 8.44%             | 2032-09-15      | Fixed         | 1.25%                 | Yes           |                  2 | On Loan: No      |
| FRANCE (GOVT OF)                                 | French Republic Government Bond OAT                                                                                                    | CUSIP: 000000000<br>LEI: 969500KCGF3SUYJHPV70 | Long             | DBT              | NUSS              | FR        |     497738 | PA      | $389594.18    | 0.27%             | 2047-07-25      | Fixed         | 0.10%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                         | Republic of South Africa Government Bond                                                                                               | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   13000000 | PA      | $754716.18    | 0.51%             | 2035-02-28      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CANADIAN DOLLAR                                  | CANADIAN DOLLAR                                                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | CA        |         36 | NS      | $26.07        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO CURRENCY                                    | EURO CURRENCY                                                                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Short            |  |  | N/A       |     -56744 | NS      | $-65587.29    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| POUND STERLING                                   | POUND STERLING                                                                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | GB        |          1 | NS      | $0.86         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPANESE YEN                                     | JAPANESE YEN                                                                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | JP        |         21 | NS      | $0.13         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-29

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

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer