# EDGAR Filing Document

**Accession Number:** 0000719269
**File Stem:** 0001145549-25-045970
**Filing Date:** 2025-7
**Character Count:** 39209
**Document Hash:** 2e21bf653010c63bad200980055b5083
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-045970.hdr.sgml**: 20250708

**ACCESSION NUMBER**: 0001145549-25-045970

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250708

**DATE AS OF CHANGE**: 20250708

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** N-MFP3
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03732
- **FILM NUMBER:** 251109664

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

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

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

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

## Series and Classes Contracts Data

### MFS U.S. Government Money Market Portfolio (Series ID: S000002643)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000007255 | Initial Class |  |
| C000007256 | Service Class |  |

# Form N-MFP3: Monthly Schedule of Portfolio Holdings

## N-MFP: Filer Information
**Submission Type:** N-MFP3
**CIK:** 0000719269

### General Information

**Report for (YYYY-MM-DD):** 2025-06-30

**Registrant Full Name:** MFS VARIABLE INSURANCE TRUST II

**CIK Number of Registrant:** 0000719269

**LEI of Registrant:** LQOFLJQP174GQBC84T87

**Name of Series:** MFS U.S. Government Money Market Portfolio

**LEI of Series:** 6281G1890F5ADRR1GL16

**EDGAR Series Identifier:** S000002643

**Total number of share classes in the series:** 2

**Is this the fund's final filing on Form N-MFP?:** No

**Has the fund acquired or merged with another fund?:** No

## Part A: Series-Level Information about the Fund

### Service Providers
| Role                          | Details                                            | File/CIK Number   |
|:---|:---|:---|
| Investment Adviser            | Massachusetts Financial Services Company           | 801-17352         |
| Independent Public Accountant | Deloitte & Touche LLP<br>City: Boston<br>State: MA |  |
| Administrator                 | Massachusetts Financial Services Company           |  |
| Transfer Agent                | MFS Service Center, Inc<br>CIK: 0000769188         | 084-01316         |

### Fund Characteristics & Assets

- **Securities Act File Number:** 002-83616

- **Is this a Feeder Fund?:** No

- **Is this a Master Fund?:** No

- **Is this series for insurance company separate accounts?:** Yes

- **Money Market Fund Category:** Government

- **Is this a Retail Money Market Fund?:** No

- **Is this a Government Money Market Fund?:** No

- **WAM:** 30 days

- **WAL:** 30 days

- **Total Value of Portfolio Securities:** $269095764.12

- **Amortized Cost of Portfolio Securities:** $269110142.21

- **Cash:** $1.21

- **Total Other Assets:** $179398.23

- **Total Liabilities:** $928669.87

- **Net Assets of Series:** $268360871.78

- **Number of Shares Outstanding (Series):** 268550991.0000

- **Does the fund seek to maintain a stable price per share?:** Yes

- **Stable Price Per Share:** $1.00

- **Is cash management vehicle an affiliated fund?:** No

- **Does the fund apply liquidity fees?:** No

### Daily & Weekly Liquid Assets
| Date       | Daily Liquid Assets ($)   | Weekly Liquid Assets ($)   | Daily Liquid Assets (%)   | Weekly Liquid Assets (%)   |
|:---|:---|:---|:---|:---|
| 2025-06-02 | $138066220.60             | $228516691.76              | 51.0200%                  | 84.4400%                   |
| 2025-06-03 | $142925241.29             | $228536884.77              | 52.8100%                  | 84.4500%                   |
| 2025-06-04 | $142308237.02             | $227929508.67              | 52.6700%                  | 84.3600%                   |
| 2025-06-05 | $142470452.01             | $228100680.46              | 52.7300%                  | 84.4200%                   |
| 2025-06-06 | $142397383.80             | $228038533.27              | 52.6800%                  | 84.3600%                   |
| 2025-06-09 | $134005024.04             | $234820595.01              | 49.5700%                  | 86.8700%                   |
| 2025-06-10 | $130252425.38             | $223880284.58              | 48.1600%                  | 82.7800%                   |
| 2025-06-11 | $130494220.17             | $224133730.68              | 48.2400%                  | 82.8600%                   |
| 2025-06-12 | $124954645.92             | $221762602.05              | 46.5500%                  | 82.6100%                   |
| 2025-06-13 | $125099542.08             | $221920874.66              | 46.6200%                  | 82.7000%                   |
| 2025-06-16 | $114523366.96             | $230385042.40              | 42.6900%                  | 85.8900%                   |
| 2025-06-17 | $122208040.46             | $230382952.46              | 45.5600%                  | 85.8900%                   |
| 2025-06-18 | $129414975.73             | $230107307.54              | 48.2800%                  | 85.8500%                   |
| 2025-06-20 | $122892128.09             | $230215157.72              | 45.7200%                  | 85.6500%                   |
| 2025-06-23 | $123580403.81             | $230940142.69              | 45.9700%                  | 85.9100%                   |
| 2025-06-24 | $123513237.73             | $230885214.28              | 45.7600%                  | 85.5400%                   |
| 2025-06-25 | $117477934.54             | $224864927.62              | 43.5500%                  | 83.3500%                   |
| 2025-06-26 | $117138334.28             | $224537422.07              | 43.4600%                  | 83.3100%                   |
| 2025-06-27 | $109399024.07             | $216811579.70              | 40.6100%                  | 80.4900%                   |
| 2025-06-30 | $109333244.57             | $223733746.18              | 40.6000%                  | 83.0800%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-06-02 | 4.3200%             |
| 2025-06-03 | 4.3200%             |
| 2025-06-04 | 4.3100%             |
| 2025-06-05 | 4.3100%             |
| 2025-06-06 | 4.3000%             |
| 2025-06-09 | 4.2900%             |
| 2025-06-10 | 4.2900%             |
| 2025-06-11 | 4.3000%             |
| 2025-06-12 | 4.3000%             |
| 2025-06-13 | 4.3000%             |
| 2025-06-16 | 4.3000%             |
| 2025-06-17 | 4.3000%             |
| 2025-06-18 | 4.3000%             |
| 2025-06-20 | 4.2900%             |
| 2025-06-23 | 4.2900%             |
| 2025-06-24 | 4.2900%             |
| 2025-06-25 | 4.2900%             |
| 2025-06-26 | 4.3000%             |
| 2025-06-27 | 4.3200%             |
| 2025-06-30 | 4.3300%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-06-02 | 0.9992                      |
|  |  |
| 2025-06-03 | 0.9992                      |
|  |  |
| 2025-06-04 | 0.9992                      |
|  |  |
| 2025-06-05 | 0.9992                      |
|  |  |
| 2025-06-06 | 0.9991                      |
|  |  |
| 2025-06-09 | 0.9992                      |
|  |  |
| 2025-06-10 | 0.9992                      |
|  |  |
| 2025-06-11 | 0.9992                      |
|  |  |
| 2025-06-12 | 0.9992                      |
|  |  |
| 2025-06-13 | 0.9991                      |
|  |  |
| 2025-06-16 | 0.9992                      |
|  |  |
| 2025-06-17 | 0.9992                      |
|  |  |
| 2025-06-18 | 0.9992                      |
|  |  |
| 2025-06-20 | 0.9991                      |
|  |  |
| 2025-06-23 | 0.9992                      |
|  |  |
| 2025-06-24 | 0.9992                      |
|  |  |
| 2025-06-25 | 0.9992                      |
|  |  |
| 2025-06-26 | 0.9993                      |
|  |  |
| 2025-06-27 | 0.9991                      |
|  |  |
| 2025-06-30 | 0.9992                      |
|  |  |

## Part B: Class-Level Information about the Fund

### Class: Initial Class

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $176812127.06

- **Number of Shares Outstanding:** 176936850.7500

- **Expense Reimbursement/Waiver:** 2042.00

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-06-02 | 0.9992          |
|  |  |
| 2025-06-03 | 0.9992          |
|  |  |
| 2025-06-04 | 0.9992          |
|  |  |
| 2025-06-05 | 0.9992          |
|  |  |
| 2025-06-06 | 0.9991          |
|  |  |
| 2025-06-09 | 0.9992          |
|  |  |
| 2025-06-10 | 0.9992          |
|  |  |
| 2025-06-11 | 0.9992          |
|  |  |
| 2025-06-12 | 0.9992          |
|  |  |
| 2025-06-13 | 0.9991          |
|  |  |
| 2025-06-16 | 0.9992          |
|  |  |
| 2025-06-17 | 0.9992          |
|  |  |
| 2025-06-18 | 0.9992          |
|  |  |
| 2025-06-20 | 0.9991          |
|  |  |
| 2025-06-23 | 0.9992          |
|  |  |
| 2025-06-24 | 0.9992          |
|  |  |
| 2025-06-25 | 0.9993          |
|  |  |
| 2025-06-26 | 0.9993          |
|  |  |
| 2025-06-27 | 0.9991          |
|  |  |
| 2025-06-30 | 0.9992          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-06-02 | $595850.07                | $481.18                 |
| 2025-06-03 | $2535.08                  | $292274.46              |
| 2025-06-04 | $670.01                   | $17890.08               |
| 2025-06-05 | $2003.89                  | $68989.37               |
| 2025-06-06 | $141783.83                | $0.00                   |
| 2025-06-09 | $44232.81                 | $70464.12               |
| 2025-06-10 | $4997.08                  | $11042.74               |
| 2025-06-11 | $12462.15                 | $2402962.45             |
| 2025-06-12 | $37202.75                 | $243287.96              |
| 2025-06-13 | $324.94                   | $93345.10               |
| 2025-06-16 | $0.00                     | $43720.79               |
| 2025-06-17 | $1954.01                  | $15781.47               |
| 2025-06-18 | $333.11                   | $19081.74               |
| 2025-06-20 | $18046.47                 | $0.00                   |
| 2025-06-23 | $2686.00                  | $47223.17               |
| 2025-06-24 | $1157932.06               | $623.67                 |
| 2025-06-25 | $4503.38                  | $349330.95              |
| 2025-06-26 | $53083.98                 | $5517.94                |
| 2025-06-27 | $6732.58                  | $18552.66               |
| 2025-06-30 | $172445.46                | $3378.61                |

**Total Gross Subscriptions (Month):** $2259779.66

**Total Gross Redemptions (Month):** $3703948.46

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-06-02 | 3.8800%           |
| 2025-06-03 | 3.8700%           |
| 2025-06-04 | 3.8700%           |
| 2025-06-05 | 3.8600%           |
| 2025-06-06 | 3.8500%           |
| 2025-06-09 | 3.8500%           |
| 2025-06-10 | 3.8400%           |
| 2025-06-11 | 3.8500%           |
| 2025-06-12 | 3.8500%           |
| 2025-06-13 | 3.8500%           |
| 2025-06-16 | 3.8500%           |
| 2025-06-17 | 3.8500%           |
| 2025-06-18 | 3.8500%           |
| 2025-06-20 | 3.8400%           |
| 2025-06-23 | 3.8400%           |
| 2025-06-24 | 3.8400%           |
| 2025-06-25 | 3.8400%           |
| 2025-06-26 | 3.8400%           |
| 2025-06-27 | 3.8600%           |
| 2025-06-30 | 3.8700%           |

**Beneficial/Record Owner Categories**
| Category          | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Insurance company |  | 64.3400%         | 0.0000%              |
| Insurance company |  | 6.9800%          | 0.0000%              |
| Insurance company |  | 23.0300%         | 0.0000%              |

### Class: Service Class

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $91548744.72

- **Number of Shares Outstanding:** 91614140.2500

- **Expense Reimbursement/Waiver:** 19891.00

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-06-02 | 0.9992          |
|  |  |
| 2025-06-03 | 0.9992          |
|  |  |
| 2025-06-04 | 0.9992          |
|  |  |
| 2025-06-05 | 0.9992          |
|  |  |
| 2025-06-06 | 0.9991          |
|  |  |
| 2025-06-09 | 0.9992          |
|  |  |
| 2025-06-10 | 0.9992          |
|  |  |
| 2025-06-11 | 0.9992          |
|  |  |
| 2025-06-12 | 0.9992          |
|  |  |
| 2025-06-13 | 0.9991          |
|  |  |
| 2025-06-16 | 0.9992          |
|  |  |
| 2025-06-17 | 0.9992          |
|  |  |
| 2025-06-18 | 0.9992          |
|  |  |
| 2025-06-20 | 0.9991          |
|  |  |
| 2025-06-23 | 0.9992          |
|  |  |
| 2025-06-24 | 0.9992          |
|  |  |
| 2025-06-25 | 0.9992          |
|  |  |
| 2025-06-26 | 0.9992          |
|  |  |
| 2025-06-27 | 0.9991          |
|  |  |
| 2025-06-30 | 0.9992          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-06-02 | $302371.57                | $17469.24               |
| 2025-06-03 | $0.00                     | $344388.52              |
| 2025-06-04 | $168274.75                | $7697.51                |
| 2025-06-05 | $4237.03                  | $42483.38               |
| 2025-06-06 | $0.00                     | $36734.29               |
| 2025-06-09 | $0.00                     | $107909.85              |
| 2025-06-10 | $232425.51                | $0.00                   |
| 2025-06-11 | $1944.78                  | $7003.17                |
| 2025-06-12 | $329474.06                | $0.00                   |
| 2025-06-13 | $61.19                    | $46334.74               |
| 2025-06-16 | $15549.39                 | $0.00                   |
| 2025-06-17 | $9.18                     | $295393.40              |
| 2025-06-18 | $78860.71                 | $10702.50               |
| 2025-06-20 | $634435.56                | $411.89                 |
| 2025-06-23 | $0.00                     | $37373.11               |
| 2025-06-24 | $0.00                     | $165148.52              |
| 2025-06-25 | $0.00                     | $8833.80                |
| 2025-06-26 | $0.00                     | $329911.52              |
| 2025-06-27 | $0.00                     | $86133.35               |
| 2025-06-30 | $120.84                   | $20642.51               |

**Total Gross Subscriptions (Month):** $1767764.57

**Total Gross Redemptions (Month):** $1564571.30

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-06-02 | 3.8800%           |
| 2025-06-03 | 3.8700%           |
| 2025-06-04 | 3.8700%           |
| 2025-06-05 | 3.8600%           |
| 2025-06-06 | 3.8500%           |
| 2025-06-09 | 3.8500%           |
| 2025-06-10 | 3.8400%           |
| 2025-06-11 | 3.8500%           |
| 2025-06-12 | 3.8500%           |
| 2025-06-13 | 3.8500%           |
| 2025-06-16 | 3.8500%           |
| 2025-06-17 | 3.8500%           |
| 2025-06-18 | 3.8500%           |
| 2025-06-20 | 3.8400%           |
| 2025-06-23 | 3.8400%           |
| 2025-06-24 | 3.8400%           |
| 2025-06-25 | 3.8400%           |
| 2025-06-26 | 3.8400%           |
| 2025-06-27 | 3.8600%           |
| 2025-06-30 | 3.8700%           |

**Beneficial/Record Owner Categories**
| Category          | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Insurance company |  | 5.1600%          | 0.0000%              |
| Insurance company |  | 90.1300%         | 0.0000%              |

## Part C: Schedule of Portfolio Securities

### Security 1: Bank of America NA

- **C.1 - Title:** Bank of America NA 4.360000%
- **C.6 - Investment Category:** U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash
- **Identifiers:** C.3 - CUSIP: 03199T002, C.3 - LEI: 549300HN4UKV1E2R3U73, C.5 - Other ID: 03199T002_4.36_0701
- **C.18 - Value (incl. sponsor support):** $39579000.00
- **C.18.a - Value (excl. sponsor support):** $39579000.00
- **C.19 - Percentage of Net Assets:** 14.7500%
- **C.17 - Yield as of Reporting Date:** 4.3600%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2025-07-01
- **C.13 - Final Legal Maturity Date:** 2025-07-01
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** No

- **Is Tri-party?:** No

**Collateral:**
| Issuer Name        | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                           |
|:---|:---|:---|:---|:---|:---|:---|
| U.S. Treasury Note | 2030-04-30      | 3.8750%  | 0.0000% | $40100000.00       | $40475937.50       | U.S. Treasuries (including strips) |

### Security 2: Federal Farm Credit Bank

- **C.1 - Title:** Federal Farm Credit Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313313JE9, C.4 - ISIN: US313313JE95, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $8234710.03
- **C.18.a - Value (excl. sponsor support):** $8234710.03
- **C.19 - Percentage of Net Assets:** 3.0700%
- **C.17 - Yield as of Reporting Date:** 4.1700%
- **C.11 - Maturity Date (WAM):** 2025-07-16
- **C.12 - Maturity Date (WAL):** 2025-07-16
- **C.13 - Final Legal Maturity Date:** 2025-07-16
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 3: Federal Farm Credit Bank

- **C.1 - Title:** Federal Farm Credit Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313313JW9, C.4 - ISIN: US313313JW93, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $5529181.34
- **C.18.a - Value (excl. sponsor support):** $5529181.34
- **C.19 - Percentage of Net Assets:** 2.0600%
- **C.17 - Yield as of Reporting Date:** 4.2200%
- **C.11 - Maturity Date (WAM):** 2025-08-01
- **C.12 - Maturity Date (WAL):** 2025-08-01
- **C.13 - Final Legal Maturity Date:** 2025-08-01
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 4: Federal Farm Credit Bank

- **C.1 - Title:** Federal Farm Credit Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313313KC1, C.4 - ISIN: US313313KC11, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $7217705.31
- **C.18.a - Value (excl. sponsor support):** $7217705.31
- **C.19 - Percentage of Net Assets:** 2.6900%
- **C.17 - Yield as of Reporting Date:** 4.2200%
- **C.11 - Maturity Date (WAM):** 2025-08-07
- **C.12 - Maturity Date (WAL):** 2025-08-07
- **C.13 - Final Legal Maturity Date:** 2025-08-07
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 5: Federal Farm Credit Bank

- **C.1 - Title:** Federal Farm Credit Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313313KL1, C.4 - ISIN: US313313KL10, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $15167768.65
- **C.18.a - Value (excl. sponsor support):** $15167768.65
- **C.19 - Percentage of Net Assets:** 5.6500%
- **C.17 - Yield as of Reporting Date:** 4.2200%
- **C.11 - Maturity Date (WAM):** 2025-08-15
- **C.12 - Maturity Date (WAL):** 2025-08-15
- **C.13 - Final Legal Maturity Date:** 2025-08-15
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 6: Federal Farm Credit Bank

- **C.1 - Title:** Federal Farm Credit Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313313LF3, C.4 - ISIN: US313313LF33, C.3 - LEI: 254900C5LP6DN9OP9V83
- **C.18 - Value (incl. sponsor support):** $7393504.19
- **C.18.a - Value (excl. sponsor support):** $7393504.19
- **C.19 - Percentage of Net Assets:** 2.7600%
- **C.17 - Yield as of Reporting Date:** 4.2000%
- **C.11 - Maturity Date (WAM):** 2025-09-03
- **C.12 - Maturity Date (WAL):** 2025-09-03
- **C.13 - Final Legal Maturity Date:** 2025-09-03
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 7: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385HQ2, C.4 - ISIN: US313385HQ21, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $5498725.82
- **C.18.a - Value (excl. sponsor support):** $5498725.82
- **C.19 - Percentage of Net Assets:** 2.0500%
- **C.17 - Yield as of Reporting Date:** 4.1700%
- **C.11 - Maturity Date (WAM):** 2025-07-02
- **C.12 - Maturity Date (WAL):** 2025-07-02
- **C.13 - Final Legal Maturity Date:** 2025-07-02
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 8: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385HV1, C.4 - ISIN: US313385HV16, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $7094243.11
- **C.18.a - Value (excl. sponsor support):** $7094243.11
- **C.19 - Percentage of Net Assets:** 2.6400%
- **C.17 - Yield as of Reporting Date:** 4.1700%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **C.13 - Final Legal Maturity Date:** 2025-07-07
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 9: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385HY5, C.4 - ISIN: US313385HY54, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $4994208.35
- **C.18.a - Value (excl. sponsor support):** $4994208.35
- **C.19 - Percentage of Net Assets:** 1.8600%
- **C.17 - Yield as of Reporting Date:** 4.1700%
- **C.11 - Maturity Date (WAM):** 2025-07-10
- **C.12 - Maturity Date (WAL):** 2025-07-10
- **C.13 - Final Legal Maturity Date:** 2025-07-10
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 10: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385HZ2, C.4 - ISIN: US313385HZ20, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $10486621.22
- **C.18.a - Value (excl. sponsor support):** $10486621.22
- **C.19 - Percentage of Net Assets:** 3.9100%
- **C.17 - Yield as of Reporting Date:** 4.1700%
- **C.11 - Maturity Date (WAM):** 2025-07-11
- **C.12 - Maturity Date (WAL):** 2025-07-11
- **C.13 - Final Legal Maturity Date:** 2025-07-11
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 11: Federal Home Loan Bank

- **C.1 - Title:** Federal Farm Credit Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385JM9, C.4 - ISIN: US313385JM98, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $6781883.64
- **C.18.a - Value (excl. sponsor support):** $6781883.64
- **C.19 - Percentage of Net Assets:** 2.5300%
- **C.17 - Yield as of Reporting Date:** 4.1700%
- **C.11 - Maturity Date (WAM):** 2025-07-23
- **C.12 - Maturity Date (WAL):** 2025-07-23
- **C.13 - Final Legal Maturity Date:** 2025-07-23
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 12: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385KD7, C.4 - ISIN: US313385KD70, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $7963426.64
- **C.18.a - Value (excl. sponsor support):** $7963426.64
- **C.19 - Percentage of Net Assets:** 2.9700%
- **C.17 - Yield as of Reporting Date:** 4.2200%
- **C.11 - Maturity Date (WAM):** 2025-08-08
- **C.12 - Maturity Date (WAL):** 2025-08-08
- **C.13 - Final Legal Maturity Date:** 2025-08-08
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 13: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385KY1, C.4 - ISIN: US313385KY18, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $6952407.77
- **C.18.a - Value (excl. sponsor support):** $6952407.77
- **C.19 - Percentage of Net Assets:** 2.5900%
- **C.17 - Yield as of Reporting Date:** 4.2200%
- **C.11 - Maturity Date (WAM):** 2025-08-27
- **C.12 - Maturity Date (WAL):** 2025-08-27
- **C.13 - Final Legal Maturity Date:** 2025-08-27
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 14: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385LM6, C.4 - ISIN: US313385LM60, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $6892430.86
- **C.18.a - Value (excl. sponsor support):** $6892430.86
- **C.19 - Percentage of Net Assets:** 2.5700%
- **C.17 - Yield as of Reporting Date:** 4.2000%
- **C.11 - Maturity Date (WAM):** 2025-09-09
- **C.12 - Maturity Date (WAL):** 2025-09-09
- **C.13 - Final Legal Maturity Date:** 2025-09-09
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 15: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385MC7, C.4 - ISIN: US313385MC79, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $4405351.68
- **C.18.a - Value (excl. sponsor support):** $4405351.68
- **C.19 - Percentage of Net Assets:** 1.6400%
- **C.17 - Yield as of Reporting Date:** 4.2000%
- **C.11 - Maturity Date (WAM):** 2025-09-24
- **C.12 - Maturity Date (WAL):** 2025-09-24
- **C.13 - Final Legal Maturity Date:** 2025-09-24
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 16: Federal Home Loan Bank

- **C.1 - Title:** Federal Home Loan Bank
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313385PD2, C.4 - ISIN: US313385PD26, C.3 - LEI: 2549001DPIFGXC1TOL40
- **C.18 - Value (incl. sponsor support):** $8763830.00
- **C.18.a - Value (excl. sponsor support):** $8763830.00
- **C.19 - Percentage of Net Assets:** 3.2700%
- **C.17 - Yield as of Reporting Date:** 4.0800%
- **C.11 - Maturity Date (WAM):** 2025-11-12
- **C.12 - Maturity Date (WAL):** 2025-11-12
- **C.13 - Final Legal Maturity Date:** 2025-11-12
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 17: Federal Home Loan Mortgage Corp.

- **C.1 - Title:** Federal Home Loan Mortgage Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313397JD4, C.4 - ISIN: US313397JD46, C.3 - LEI: S6XOOCT0IEG5ABCC6L87
- **C.18 - Value (incl. sponsor support):** $11180540.00
- **C.18.a - Value (excl. sponsor support):** $11180540.00
- **C.19 - Percentage of Net Assets:** 4.1700%
- **C.17 - Yield as of Reporting Date:** 4.1700%
- **C.11 - Maturity Date (WAM):** 2025-07-15
- **C.12 - Maturity Date (WAL):** 2025-07-15
- **C.13 - Final Legal Maturity Date:** 2025-07-15
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 18: Federal Home Loan Mortgage Corp.

- **C.1 - Title:** Federal Home Loan Mortgage Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313397JL6, C.4 - ISIN: US313397JL61, C.3 - LEI: S6XOOCT0IEG5ABCC6L87
- **C.18 - Value (incl. sponsor support):** $7680377.86
- **C.18.a - Value (excl. sponsor support):** $7680377.86
- **C.19 - Percentage of Net Assets:** 2.8600%
- **C.17 - Yield as of Reporting Date:** 4.1700%
- **C.11 - Maturity Date (WAM):** 2025-07-22
- **C.12 - Maturity Date (WAL):** 2025-07-22
- **C.13 - Final Legal Maturity Date:** 2025-07-22
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 19: Federal Home Loan Mortgage Corp.

- **C.1 - Title:** Federal Home Loan Mortgage Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313397JS1, C.4 - ISIN: US313397JS15, C.3 - LEI: S6XOOCT0IEG5ABCC6L87
- **C.18 - Value (incl. sponsor support):** $9618701.87
- **C.18.a - Value (excl. sponsor support):** $9618701.87
- **C.19 - Percentage of Net Assets:** 3.5800%
- **C.17 - Yield as of Reporting Date:** 4.1700%
- **C.11 - Maturity Date (WAM):** 2025-07-28
- **C.12 - Maturity Date (WAL):** 2025-07-28
- **C.13 - Final Legal Maturity Date:** 2025-07-28
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 20: Federal Home Loan Mortgage Corp.

- **C.1 - Title:** Federal Home Loan Mortgage Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313397NE7, C.4 - ISIN: US313397NE72, C.3 - LEI: S6XOOCT0IEG5ABCC6L87
- **C.18 - Value (incl. sponsor support):** $10859004.42
- **C.18.a - Value (excl. sponsor support):** $10859004.42
- **C.19 - Percentage of Net Assets:** 4.0500%
- **C.17 - Yield as of Reporting Date:** 4.1200%
- **C.11 - Maturity Date (WAM):** 2025-10-20
- **C.12 - Maturity Date (WAL):** 2025-10-20
- **C.13 - Final Legal Maturity Date:** 2025-10-20
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 21: Federal Home Loan Mortgage Corp.

- **C.1 - Title:** Federal Home Loan Mortgage Corp.
- **C.6 - Investment Category:** U.S. Government Agency Debt (if categorized as no-coupon discount notes)
- **Identifiers:** C.3 - CUSIP: 313397NU1, C.4 - ISIN: US313397NU15, C.3 - LEI: S6XOOCT0IEG5ABCC6L87
- **C.18 - Value (incl. sponsor support):** $7047898.00
- **C.18.a - Value (excl. sponsor support):** $7047898.00
- **C.19 - Percentage of Net Assets:** 2.6300%
- **C.17 - Yield as of Reporting Date:** 4.0800%
- **C.11 - Maturity Date (WAM):** 2025-11-03
- **C.12 - Maturity Date (WAL):** 2025-11-03
- **C.13 - Final Legal Maturity Date:** 2025-11-03
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 22: Fixed Income Clearing Corp. - State Street Bank & Trust Co.

- **C.1 - Title:** Fixed Income Clearing Corp. - State Street Bank & Trust Co. 4.380000%
- **C.6 - Investment Category:** U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash
- **Identifiers:** C.3 - CUSIP: 85748R009, C.3 - LEI: 549300H47WTHXPU08X20, C.5 - Other ID: 85748R009_4.38_0701
- **C.18 - Value (incl. sponsor support):** $39579666.00
- **C.18.a - Value (excl. sponsor support):** $39579666.00
- **C.19 - Percentage of Net Assets:** 14.7500%
- **C.17 - Yield as of Reporting Date:** 4.3800%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2025-07-01
- **C.13 - Final Legal Maturity Date:** 2025-07-01
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** Yes

- **Name of CCP:** Fixed Income Clearing Corp.

- **Is Tri-party?:** No

**Collateral:**
| Issuer Name        | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                           |
|:---|:---|:---|:---|:---|:---|:---|
| U.S. Treasury Note | 2027-12-15      | 4.0000%  | 0.0000% | $40052200.00       | $40371369.17       | U.S. Treasuries (including strips) |

### Security 23: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797PE1, C.4 - ISIN: US912797PE18, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $13774577.36
- **C.18.a - Value (excl. sponsor support):** $13774577.36
- **C.19 - Percentage of Net Assets:** 5.1300%
- **C.17 - Yield as of Reporting Date:** 4.2100%
- **C.11 - Maturity Date (WAM):** 2025-07-17
- **C.12 - Maturity Date (WAL):** 2025-07-17
- **C.13 - Final Legal Maturity Date:** 2025-07-17
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 24: U.S. Treasury Bill

- **C.1 - Title:** U.S. Treasury Bill
- **C.6 - Investment Category:** U.S. Treasury Debt
- **Identifiers:** C.3 - CUSIP: 912797PU5, C.4 - ISIN: US912797PU59, C.3 - LEI: 254900HROIFWPRGM1V77
- **C.18 - Value (incl. sponsor support):** $16400000.00
- **C.18.a - Value (excl. sponsor support):** $16400000.00
- **C.19 - Percentage of Net Assets:** 6.1100%
- **C.17 - Yield as of Reporting Date:** 0.0000%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2025-07-01
- **C.13 - Final Legal Maturity Date:** 2025-07-01
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

## N-MFP: Signatures

**Registrant:** MFS VARIABLE INSURANCE TRUST II

**Date:** 2025-07-08

**By:** James Byrne

**Name of Signing Officer:** James Byrne

**Title of Signing Officer:** Assistant Treasurer