# EDGAR Filing Document

**Accession Number:** 0000719269
**File Stem:** 0001410368-26-050716
**Filing Date:** 2026-5
**Character Count:** 57000
**Document Hash:** 47b15f5fc656126215a6bcd4e2e4b433
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-050716.hdr.sgml**: 20260526

**ACCESSION NUMBER**: 0001410368-26-050716

**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 II
- **CENTRAL INDEX KEY:** 0000719269

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03732
- **FILM NUMBER:** 261016302

**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 International Intrinsic Equity Portfolio (Series ID: S000002638)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000007245 | Initial Class |  |
| C000007246 | Service Class |  |

## Nport-Ex

FCG-Q1

![](img6828f6691.gif)

**Quarterly Report**

March 31, 2026

MFS<sup>®</sup> International Intrinsic <br>

Value Portfolio

![](img5c53f2642.gif)

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

------

**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 ($)** |
| Common Stocks – 96.7%  | Common Stocks – 96.7%  | Common Stocks – 96.7%  |
| Alcoholic Beverages – 1.5% | Alcoholic Beverages – 1.5% |  |
| Diageo PLC | 642437 | &nbsp;&nbsp;&nbsp; $11936677 |
| Pernod Ricard S.A. | 137028 | &nbsp;&nbsp;&nbsp; 10227638 |
|  |  | &nbsp;&nbsp;&nbsp; $22164315 |
| Apparel, Footwear, & Accessories – 0.7% | Apparel, Footwear, & Accessories – 0.7% |  |
| Compagnie Financiere Richemont S.A.  | 58428 | &nbsp;&nbsp;&nbsp; $10411453 |
| Auto & Auto Components – 0.7% | Auto & Auto Components – 0.7% |  |
| Shimano, Inc.  | 94000 | &nbsp;&nbsp;&nbsp; $9850413 |
| Brokerage & Asset Managers – 0.7% | Brokerage & Asset Managers – 0.7% |  |
| Julius Baer Group Ltd.  | 135351 | &nbsp;&nbsp;&nbsp; $9973820 |
| Business Services – 1.3% | Business Services – 1.3% |  |
| Experian PLC  | 555742 | &nbsp;&nbsp;&nbsp; $19316808 |
| Chemicals – 2.5% | Chemicals – 2.5% |  |
| Croda International PLC | 83664 | &nbsp;&nbsp;&nbsp; $3126250 |
| Nitto Denko Corp. | 454100 | &nbsp;&nbsp;&nbsp; 9085214 |
| Symrise AG | 287741 | &nbsp;&nbsp;&nbsp; 24358562 |
|  |  | &nbsp;&nbsp;&nbsp; $36570026 |
| Construction – 3.2% | Construction – 3.2% |  |
| Compagnie de Saint-Gobain S.A. | 212525 | &nbsp;&nbsp;&nbsp; $17489800 |
| CRH PLC | 184919 | &nbsp;&nbsp;&nbsp; 19438685 |
| Sika AG | 58400 | &nbsp;&nbsp;&nbsp; 9712467 |
|  |  | &nbsp;&nbsp;&nbsp; $46640952 |
| Consumer Products – 4.6% | Consumer Products – 4.6% |  |
| Beiersdorf AG | 83331 | &nbsp;&nbsp;&nbsp; $7376044 |
| Haleon PLC | 6206668 | &nbsp;&nbsp;&nbsp; 30708226 |
| KOSE Corp. | 28900 | &nbsp;&nbsp;&nbsp; 1077924 |
| Lion Corp. | 117600 | &nbsp;&nbsp;&nbsp; 1227604 |
| Reckitt Benckiser Group PLC | 136585 | &nbsp;&nbsp;&nbsp; 9269023 |
| ROHTO Pharmaceutical Co. Ltd. | 639200 | &nbsp;&nbsp;&nbsp; 9744334 |
| Uni-Charm Corp. | 1548000 | &nbsp;&nbsp;&nbsp; 9014311 |
|  |  | &nbsp;&nbsp;&nbsp; $68417466 |
| Diversified Financial Services – 5.9% | Diversified Financial Services – 5.9% |  |
| Deutsche Boerse AG | 128679 | &nbsp;&nbsp;&nbsp; $37411630 |
| Euronext N.V. | 159056 | &nbsp;&nbsp;&nbsp; 25591921 |
| London Stock Exchange Group PLC | 203727 | &nbsp;&nbsp;&nbsp; 24077664 |
|  |  | &nbsp;&nbsp;&nbsp; $87081215 |
| Electrical Equipment – 7.5% | Electrical Equipment – 7.5% |  |
| Legrand S.A. | 276908 | &nbsp;&nbsp;&nbsp; $42789122 |
| Mitsubishi Electric Corp. | 818000 | &nbsp;&nbsp;&nbsp; 26713823 |
| Schneider Electric SE | 152581 | &nbsp;&nbsp;&nbsp; 41909435 |
|  |  | &nbsp;&nbsp;&nbsp; $111412380 |
| Energy - Independent – 5.2% | Energy - Independent – 5.2% |  |
| Aker BP ASA | 565850 | &nbsp;&nbsp;&nbsp; $20773936 |
| Petroleo Brasileiro S.A., ADR | 413733 | &nbsp;&nbsp;&nbsp; 7757494 |
| TotalEnergies SE | 517459 | &nbsp;&nbsp;&nbsp; 47778677 |
|  |  | &nbsp;&nbsp;&nbsp; $76310107 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued  | Common Stocks – continued  | Common Stocks – continued  |
| Engineering - Construction – 0.5% | Engineering - Construction – 0.5% |  |
| Taisei Corp.  | 73400 | &nbsp;&nbsp;&nbsp; $7665428 |
| Food & Beverages – 3.3% | Food & Beverages – 3.3% |  |
| Chocoladefabriken Lindt & Sprungli AG | 336 | &nbsp;&nbsp;&nbsp; $4718959 |
| Ezaki Glico Co. Ltd. | 160100 | &nbsp;&nbsp;&nbsp; 5950565 |
| Kerry Group PLC | 120153 | &nbsp;&nbsp;&nbsp; 9515635 |
| Nissan Foods Holdings Co. Ltd. | 315700 | &nbsp;&nbsp;&nbsp; 6005807 |
| Novozymes A.S. | 43414 | &nbsp;&nbsp;&nbsp; 2568498 |
| Toyo Suisan Kaisha Ltd. (l) | 280000 | &nbsp;&nbsp;&nbsp; 19548243 |
|  |  | &nbsp;&nbsp;&nbsp; $48307707 |
| Forest & Paper Products – 0.7% | Forest & Paper Products – 0.7% |  |
| Svenska Cellulosa Aktiebolaget (l)  | 886719 | &nbsp;&nbsp;&nbsp; $10263470 |
| Global Systemically Important Banks – 1.8% | Global Systemically Important Banks – 1.8% |  |
| UBS Group AG  | 677954 | &nbsp;&nbsp;&nbsp; $26368350 |
| Hardware, Peripherals, & Assembly – 1.1% | Hardware, Peripherals, & Assembly – 1.1% |  |
| Amadeus IT Group S.A. | 260328 | &nbsp;&nbsp;&nbsp; $14798415 |
| Samsung Electronics Co. Ltd. | 20577 | &nbsp;&nbsp;&nbsp; 2311415 |
|  |  | &nbsp;&nbsp;&nbsp; $17109830 |
| Insurance – 2.5% | Insurance – 2.5% |  |
| Hiscox Ltd. | 475498 | &nbsp;&nbsp;&nbsp; $9582968 |
| Samsung Fire & Marine Insurance Co. Ltd. | 27946 | &nbsp;&nbsp;&nbsp; 8102236 |
| Willis Towers Watson PLC | 66614 | &nbsp;&nbsp;&nbsp; 19364690 |
|  |  | &nbsp;&nbsp;&nbsp; $37049894 |
| Machinery & Tools – 5.0% | Machinery & Tools – 5.0% |  |
| Assa Abloy AB | 625970 | &nbsp;&nbsp;&nbsp; $22447526 |
| IMI PLC | 598241 | &nbsp;&nbsp;&nbsp; 20395474 |
| Keyence Corp. | 32500 | &nbsp;&nbsp;&nbsp; 11510046 |
| Knorr-Bremse AG | 53332 | &nbsp;&nbsp;&nbsp; 5954326 |
| Schindler Holding AG | 22327 | &nbsp;&nbsp;&nbsp; 7352750 |
| Spirax Group PLC | 70784 | &nbsp;&nbsp;&nbsp; 6335033 |
|  |  | &nbsp;&nbsp;&nbsp; $73995155 |
| Media – 1.4% | Media – 1.4% |  |
| RELX PLC | 443467 | &nbsp;&nbsp;&nbsp; $14620757 |
| Wolters Kluwer N.V. | 78094 | &nbsp;&nbsp;&nbsp; 5842226 |
|  |  | &nbsp;&nbsp;&nbsp; $20462983 |
| Medical & Health Technology & Services – 0.5% | Medical & Health Technology & Services – 0.5% |  |
| M3, Inc. (l)  | 731600 | &nbsp;&nbsp;&nbsp; $7468911 |
| Medical Equipment – 6.8% | Medical Equipment – 6.8% |  |
| Agilent Technologies, Inc. | 140020 | &nbsp;&nbsp;&nbsp; $15959479 |
| Alcon, Inc. | 156218 | &nbsp;&nbsp;&nbsp; 11719614 |
| Coloplast, "B" | 139070 | &nbsp;&nbsp;&nbsp; 9482230 |
| EssilorLuxottica | 50324 | &nbsp;&nbsp;&nbsp; 11712170 |
| Olympus Corp. | 477900 | &nbsp;&nbsp;&nbsp; 4549798 |
| Shimadzu Corp. | 435300 | &nbsp;&nbsp;&nbsp; 10326616 |
| Smith & Nephew PLC | 926091 | &nbsp;&nbsp;&nbsp; 14629067 |
| Terumo Corp. | 738100 | &nbsp;&nbsp;&nbsp; 9882924 |
| Waters Corp. (a) | 39652 | &nbsp;&nbsp;&nbsp; 11808365 |
|  |  | &nbsp;&nbsp;&nbsp; $100070263 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued  | Common Stocks – continued  | Common Stocks – continued  |
| Metals & Mining – 14.4% | Metals & Mining – 14.4% |  |
| Agnico Eagle Mines Ltd. | 156890 | &nbsp;&nbsp;&nbsp; $31846042 |
| Anglo American PLC | 173805 | &nbsp;&nbsp;&nbsp; 7384059 |
| ArcelorMittal S.A. | 343440 | &nbsp;&nbsp;&nbsp; 17893753 |
| Aurubis AG | 41432 | &nbsp;&nbsp;&nbsp; 7183378 |
| Franco-Nevada Corp. | 239409 | &nbsp;&nbsp;&nbsp; 59280016 |
| Glencore PLC | 3860396 | &nbsp;&nbsp;&nbsp; 29416236 |
| Iluka Resources Ltd. | 297002 | &nbsp;&nbsp;&nbsp; 1378993 |
| Northern Star Resources Ltd. Co. | 947302 | &nbsp;&nbsp;&nbsp; 13829501 |
| Teck Resources | 201138 | &nbsp;&nbsp;&nbsp; 10424879 |
| Wheaton Precious Metals Corp. | 254476 | &nbsp;&nbsp;&nbsp; 33403291 |
|  |  | &nbsp;&nbsp;&nbsp; $212040148 |
| Non-Global Systemically Important Banks – 11.3% | Non-Global Systemically Important Banks – 11.3% |  |
| AIB Group PLC | 2426609 | &nbsp;&nbsp;&nbsp; $25809227 |
| Bank of Ireland Group PLC | 861655 | &nbsp;&nbsp;&nbsp; 15768729 |
| BPER Banca S.p.A. | 432839 | &nbsp;&nbsp;&nbsp; 5650197 |
| CaixaBank S.A. | 2177096 | &nbsp;&nbsp;&nbsp; 26121657 |
| Chiba Bank Ltd. | 967300 | &nbsp;&nbsp;&nbsp; 12463174 |
| Lloyds Banking Group PLC | 10317301 | &nbsp;&nbsp;&nbsp; 12751726 |
| National Bank of Greece S.A. | 482292 | &nbsp;&nbsp;&nbsp; 7475100 |
| NatWest Group PLC | 4128816 | &nbsp;&nbsp;&nbsp; 30636043 |
| Resona Holdings, Inc. | 2684400 | &nbsp;&nbsp;&nbsp; 29869230 |
|  |  | &nbsp;&nbsp;&nbsp; $166545083 |
| Oil Services – 0.8% | Oil Services – 0.8% |  |
| Tenaris S.A.  | 410688 | &nbsp;&nbsp;&nbsp; $11996004 |
| Pharmaceuticals & Biotechnology – 3.4% | Pharmaceuticals & Biotechnology – 3.4% |  |
| Roche Holding AG | 65200 | &nbsp;&nbsp;&nbsp; $25745254 |
| Sandoz Group AG | 311653 | &nbsp;&nbsp;&nbsp; 24445577 |
|  |  | &nbsp;&nbsp;&nbsp; $50190831 |
| Retail & E-commerce – 0.4% | Retail & E-commerce – 0.4% |  |
| Nitori Co. Ltd.  | 419400 | &nbsp;&nbsp;&nbsp; $6652843 |
| Semiconductor & Electronic Components – 4.9% | Semiconductor & Electronic Components – 4.9% |  |
| ASML Holding N.V. | 9568 | &nbsp;&nbsp;&nbsp; $12664560 |
| Hirose Electric Co. Ltd. | 46600 | &nbsp;&nbsp;&nbsp; 6084716 |
| Infineon Technologies AG | 142308 | &nbsp;&nbsp;&nbsp; 6250496 |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 140791 | &nbsp;&nbsp;&nbsp; 47580319 |
|  |  | &nbsp;&nbsp;&nbsp; $72580091 |
| Software – 3.0% | Software – 3.0% |  |
| Check Point Software Technologies Ltd. (a) | 63272 | &nbsp;&nbsp;&nbsp; $9038405 |
| Dassault Systemes SE | 649742 | &nbsp;&nbsp;&nbsp; 13228673 |
| SAP SE | 133362 | &nbsp;&nbsp;&nbsp; 22569259 |
|  |  | &nbsp;&nbsp;&nbsp; $44836337 |
| Travel, Gaming, & Lodging – 1.1% | Travel, Gaming, & Lodging – 1.1% |  |
| Ryanair Holdings PLC, ADR  | 271748 | &nbsp;&nbsp;&nbsp; $15707034 |
| **Total Common Stocks**  |  | &nbsp;&nbsp; **$1427459317** |
| Mutual Funds (h) – 2.8%  | Mutual Funds (h) – 2.8%  | Mutual Funds (h) – 2.8%  |
| Money Market Funds – 2.8% | Money Market Funds – 2.8% |  |
| MFS Institutional Money Market Portfolio, 3.71% (v)  | 40871825 | &nbsp;&nbsp;&nbsp; $40871825 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Collateral for Securities Loaned – 2.0%  | Collateral for Securities Loaned – 2.0%  | Collateral for Securities Loaned – 2.0%  |
| JPMorgan U.S. Government Money Market Fund - Class IM Shares, 3.6% (j)  | 29993700 | &nbsp;&nbsp;&nbsp; $29993700 |
| Other Assets, Less Liabilities – (1.5)% |  | &nbsp;&nbsp;&nbsp; (22150646)<br>|
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$1476174196** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $40,871,825 and $1,457,453,017, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(j) The rate quoted is the annualized seven-day yield of the fund at period end.

&nbsp;&nbsp;&nbsp;&nbsp;(l) A portion of this security is on loan.

&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: <br> ADR American Depositary Receipt

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, equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided

by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which

approximates market value. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund's net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund's foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to

sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other

------

*Supplemental Information (unaudited) – continued*

significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of March 31, 2026 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp; $30708226 | &nbsp;&nbsp;&nbsp; $213477785 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $244186011 |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 228621189 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 228621189 |
| &nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp; 6652843 | &nbsp;&nbsp;&nbsp; 198039081 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 204691924 |
| &nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp; 134954228 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 134954228 |
| &nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp; 4718959 | &nbsp;&nbsp;&nbsp; 125729285 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 130448244 |
| &nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp; 45168480 | &nbsp;&nbsp;&nbsp; 65935215 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 111103695 |
| &nbsp;&nbsp;&nbsp; Ireland | &nbsp;&nbsp;&nbsp; 15707034 | &nbsp;&nbsp;&nbsp; 51093591 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 66800625 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp; 66571219 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 66571219 |
| &nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp;&nbsp; 47580319 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 47580319 |
| &nbsp;&nbsp;&nbsp; Other Countries | &nbsp;&nbsp;&nbsp; 19364397 | &nbsp;&nbsp;&nbsp; 173137466 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 192501863 |
| Investment Companies | &nbsp;&nbsp;&nbsp; 70865525 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 70865525 |
| Total | &nbsp;&nbsp;&nbsp; $442291230 | &nbsp;&nbsp;&nbsp; $1056033612 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1498324842 |

---

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; $16366611 | &nbsp;&nbsp; $95793771 | &nbsp;&nbsp; $71280666 | &nbsp;&nbsp; $(2250)<br>| &nbsp;&nbsp; $(5641)<br>| &nbsp;&nbsp; $40871825<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; $317029 | &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 Kingdom | 16.6% |
| France | 15.5% |
| Japan | 13.9% |
| Canada | 9.2% |
| Switzerland | 8.9% |
| United States | 7.6% |
| Germany | 7.5% |
| Ireland | 4.5% |
| Taiwan | 3.2% |
| Other Countries | 13.1% |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

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

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

- **a. Name of Series:** MFS International Intrinsic Value Portfolio

- **b. EDGAR series identifier (if any):** S000002638

- **c. LEI of Series:** R8FUCFNPB06NBDV4PQ02

**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:** $1507841657.08

**Total Liabilities:** $31136861.99

**Net Assets:** $1476704795.09

**Cash Not Reported:** $2434.87

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000007245 | 4.57%                | 5.12%                | -9.23%               |
| Class ID C000007246 | 4.54%                | 5.11%                | -9.26%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $25144410.01             | $45212771.35                               |
| Month 2  | $34169250.10             | $46567773.67                               |
| Month 3  | $24664454.31             | $-182095323.41                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Agilent Technologies Inc                  | Agilent Technologies Inc                  | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |    140020 | NS      | $15959479.60  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                    | Agnico Eagle Mines Ltd                    | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |    156890 | NS      | $31846042.20  | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                                | Diageo PLC                                | CUSIP: 000000000<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |    642437 | NS      | $11936677.00  | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                  | Lloyds Banking Group PLC                  | CUSIP: 000000000<br>LEI: 549300PPXHEU2JF0AM85 | Long             | EC               | CORP              | GB        |  10317301 | NS      | $12751726.01  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Smith & Nephew PLC                        | Smith & Nephew PLC                        | CUSIP: 000000000<br>LEI: 213800ZTMDN8S67S1H61 | Long             | EC               | CORP              | GB        |    926091 | NS      | $14629066.72  | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Franco-Nevada Corp                        | Franco-Nevada Corp                        | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |    239409 | NS      | $59280015.85  | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BPER Banca SPA                            | BPER Banca SPA                            | CUSIP: 000000000<br>LEI: N747OI7JINV7RUUH6190 | Long             | EC               | CORP              | IT        |    432839 | NS      | $5650197.33   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Kerry Group PLC                           | Kerry Group PLC                           | CUSIP: 000000000<br>LEI: 635400TLVVBNXLFHWC59 | Long             | EC               | CORP              | IE        |    120153 | NS      | $9515634.61   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Pernod Ricard SA                          | Pernod Ricard SA                          | CUSIP: 000000000<br>LEI: 52990097YFPX9J0H5D87 | Long             | EC               | CORP              | FR        |    137028 | NS      | $10227638.00  | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Schneider Electric SE                     | Schneider Electric SE                     | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |    152581 | NS      | $41909434.93  | 2.84%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                    | SAP SE                                    | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |    133362 | NS      | $22569259.02  | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Beiersdorf AG                             | Beiersdorf AG                             | CUSIP: 000000000<br>LEI: L47NHHI0Z9X22DV46U41 | Long             | EC               | CORP              | DE        |     83331 | NS      | $7376044.29   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Aurubis AG                                | Aurubis AG                                | CUSIP: 000000000<br>LEI: 5299005SHIN9ZK7GW242 | Long             | EC               | CORP              | DE        |     41432 | NS      | $7183377.95   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS Institutional Money Market Portfolio  | MFS Institutional Money Market Portfolio  | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | EC               | RF                | US        |  40732254 | NS      | $40732253.62  | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolters Kluwer NV                         | Wolters Kluwer NV                         | CUSIP: 000000000<br>LEI: 724500TEM53I0U077B74 | Long             | EC               | CORP              | NL        |     78094 | NS      | $5842225.69   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Infineon Technologies AG                  | Infineon Technologies AG                  | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |    142308 | NS      | $6250495.86   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Chocoladefabriken Lindt & Spruengli AG    | Chocoladefabriken Lindt & Spruengli AG    | CUSIP: 000000000<br>LEI: 529900JYJNNOKKAGK736 | Long             | EC               | CORP              | CH        |       336 | NS      | $4718959.48   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Fire & Marine Insurance Co Ltd    | Samsung Fire & Marine Insurance Co Ltd    | CUSIP: 000000000<br>LEI: 988400JMBDK47EW0Z936 | Long             | EC               | CORP              | KR        |     27946 | NS      | $8102236.35   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Chiba Bank Ltd/The                        | Chiba Bank Ltd/The                        | CUSIP: 000000000<br>LEI: FGJPAKKCTZVSKZXNBS63 | Long             | EC               | CORP              | JP        |    967300 | NS      | $12463174.19  | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Kose Holdings Corp                        | Kose Holdings Corp                        | CUSIP: 000000000<br>LEI: 353800NX4GGAVDHHY664 | Long             | EC               | CORP              | JP        |     28900 | NS      | $1077923.52   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Ezaki Glico Co Ltd                        | Ezaki Glico Co Ltd                        | CUSIP: 000000000<br>LEI: 3538001RG4BHKDFV6G61 | Long             | EC               | CORP              | JP        |    160100 | NS      | $5950565.12   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Resona Holdings Inc                       | Resona Holdings Inc                       | CUSIP: 000000000<br>LEI: 52990067JE75XZCYYT81 | Long             | EC               | CORP              | JP        |   2684400 | NS      | $29869229.88  | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Hirose Electric Co Ltd                    | Hirose Electric Co Ltd                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     46600 | NS      | $6084716.44   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp                              | Keyence Corp                              | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |     32500 | NS      | $11510045.75  | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Lion Corp                                 | Lion Corp                                 | CUSIP: 000000000<br>LEI: 529900MPGS2GM7VPG855 | Long             | EC               | CORP              | JP        |    117600 | NS      | $1227604.42   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Electric Corp                  | Mitsubishi Electric Corp                  | CUSIP: 000000000<br>LEI: 549300TRXM9Y6561AX39 | Long             | EC               | CORP              | JP        |    818000 | NS      | $26713822.44  | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Nissin Foods Holdings Co Ltd              | Nissin Foods Holdings Co Ltd              | CUSIP: 000000000<br>LEI: 529900YMZMNSHC1W6V41 | Long             | EC               | CORP              | JP        |    315700 | NS      | $6005806.49   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Nitto Denko Corp                          | Nitto Denko Corp                          | CUSIP: 000000000<br>LEI: 3538009GX5P09USH2J25 | Long             | EC               | CORP              | JP        |    454100 | NS      | $9085213.79   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Nitori Holdings Co Ltd                    | Nitori Holdings Co Ltd                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    419400 | NS      | $6652843.33   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Olympus Corp                              | Olympus Corp                              | CUSIP: 000000000<br>LEI: 5299000Y52IFDI1I2A21 | Long             | EC               | CORP              | JP        |    477900 | NS      | $4549797.93   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Northern Star Resources Ltd               | Northern Star Resources Ltd               | CUSIP: 000000000<br>LEI: 254900XFXCRYYZAX6M78 | Long             | EC               | CORP              | AU        |    947302 | NS      | $13829500.71  | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Rohto Pharmaceutical Co Ltd               | Rohto Pharmaceutical Co Ltd               | CUSIP: 000000000<br>LEI: 353800Q1CW5OS81OUM12 | Long             | EC               | CORP              | JP        |    639200 | NS      | $9744333.82   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                | Samsung Electronics Co Ltd                | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     20577 | NS      | $2311415.22   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Shimadzu Corp                             | Shimadzu Corp                             | CUSIP: 000000000<br>LEI: 353800Y64Z08WEH8PH97 | Long             | EC               | CORP              | JP        |    435300 | NS      | $10326615.85  | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Shimano Inc                               | Shimano Inc                               | CUSIP: 000000000<br>LEI: 529900L32YT3P9DECR10 | Long             | EC               | CORP              | JP        |     94000 | NS      | $9850413.04   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Taisei Corp                               | Taisei Corp                               | CUSIP: 000000000<br>LEI: 529900TF7XJKIOWMLQ79 | Long             | EC               | CORP              | JP        |     73400 | NS      | $7665428.06   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Terumo Corp                               | Terumo Corp                               | CUSIP: 000000000<br>LEI: 353800JX1R4582QVK932 | Long             | EC               | CORP              | JP        |    703300 | NS      | $9416963.22   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyo Suisan Kaisha Ltd                    | Toyo Suisan Kaisha Ltd                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    280000 | NS      | $19548243.09  | 1.32%             |  |  |  | No            |                  2 | On Loan: —       |
| Unicharm Corp                             | Unicharm Corp                             | CUSIP: 000000000<br>LEI: 353800UQ4BZIJTAQEG85 | Long             | EC               | CORP              | JP        |   1548000 | NS      | $9014311.48   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Iluka Resources Ltd                       | Iluka Resources Ltd                       | CUSIP: 000000000<br>LEI: 2549009N2Y1F4YNB0955 | Long             | EC               | CORP              | AU        |    271034 | NS      | $1258422.21   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Boerse AG                        | Deutsche Boerse AG                        | CUSIP: 000000000<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |    128679 | NS      | $37411629.98  | 2.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Petroleo Brasileiro SA - Petrobras        | Petroleo Brasileiro SA - Petrobras        | CUSIP: 71654V101<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |    413733 | NS      | $7757493.75   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| EssilorLuxottica SA                       | EssilorLuxottica SA                       | CUSIP: 000000000<br>LEI: 549300M3VH1A3ER1TB49 | Long             | EC               | CORP              | FR        |     50324 | NS      | $11712169.66  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie de Saint-Gobain SA                    | Cie de Saint-Gobain SA                    | CUSIP: 000000000<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |    212525 | NS      | $17489799.81  | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryanair Holdings PLC                      | Ryanair Holdings PLC                      | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |    271748 | NS      | $15707034.40  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    140791 | NS      | $47580318.45  | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Teck Resources Ltd                        | Teck Resources Ltd                        | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |    201138 | NS      | $10424879.45  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan US Government Money Market Fund | JP Morgan US Government Money Market Fund | CUSIP: 4812C2270<br>LEI: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |  29993700 | NS      | $29993700.00  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Waters Corp                               | Waters Corp                               | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |     39652 | NS      | $11808365.60  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp              | Wheaton Precious Metals Corp              | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |    254476 | NS      | $33403290.63  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                           | ASML Holding NV                           | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      9568 | NS      | $12664560.15  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Coloplast A/S                             | Coloplast A/S                             | CUSIP: 000000000<br>LEI: 529900NN7SOJ5QG82X67 | Long             | EC               | CORP              | DK        |    139070 | NS      | $9482230.15   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA               | Cie Financiere Richemont SA               | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |     58428 | NS      | $10411453.01  | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                              | UBS Group AG                              | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |    677954 | NS      | $26368350.16  | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Assa Abloy AB                             | Assa Abloy AB                             | CUSIP: 000000000<br>LEI: 549300YECS8HKCIMMB67 | Long             | EC               | CORP              | SE        |    625970 | NS      | $22447525.88  | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| ArcelorMittal SA                          | ArcelorMittal SA                          | CUSIP: 000000000<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | EC               | CORP              | LU        |    343440 | NS      | $17893752.59  | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Sika AG                                   | Sika AG                                   | CUSIP: 000000000<br>LEI: 549300R3N69ECGYPU434 | Long             | EC               | CORP              | CH        |     58400 | NS      | $9712466.90   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| National Bank of Greece SA                | National Bank of Greece SA                | CUSIP: 000000000<br>LEI: 5UMCZOEYKCVFAW8ZLO05 | Long             | EC               | CORP              | GR        |    482292 | NS      | $7475100.11   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Knorr-Bremse AG                           | Knorr-Bremse AG                           | CUSIP: 000000000<br>LEI: 5299001GRRO0Z25YZT52 | Long             | EC               | CORP              | DE        |     53332 | NS      | $5954326.42   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Alcon AG                                  | Alcon AG                                  | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |    156218 | NS      | $11719613.66  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Sandoz Group AG                           | Sandoz Group AG                           | CUSIP: 000000000<br>LEI: 5493000JWK6XWFEUD320 | Long             | EC               | CORP              | CH        |    311653 | NS      | $24445577.24  | 1.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Tenaris SA                                | Tenaris SA                                | CUSIP: 000000000<br>LEI: 549300Y7C05BKC4HZB40 | Long             | EC               | CORP              | LU        |    410688 | NS      | $11996004.49  | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Anglo American PLC                        | Anglo American PLC                        | CUSIP: 000000000<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |    173805 | NS      | $7384059.23   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                          | Roche Holding AG                          | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     65200 | NS      | $25745253.45  | 1.74%             |  |  |  | No            |                  2 | On Loan: No      |
| M3 Inc                                    | M3 Inc                                    | CUSIP: 000000000<br>LEI: 3538001UOKRWIODYM055 | Long             | EC               | CORP              | JP        |    731600 | NS      | $7468911.25   | 0.51%             |  |  |  | No            |                  2 | On Loan: —       |
| London Stock Exchange Group PLC           | London Stock Exchange Group PLC           | CUSIP: 000000000<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |    203727 | NS      | $24077663.63  | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Schindler Holding AG                      | Schindler Holding AG                      | CUSIP: 000000000<br>LEI: 5299007DRLI319H7Q933 | Long             | EC               | CORP              | CH        |     22327 | NS      | $7352750.00   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Legrand SA                                | Legrand SA                                | CUSIP: 000000000<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |    276908 | NS      | $42789122.25  | 2.90%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                          | TotalEnergies SE                          | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |    517459 | NS      | $47778677.26  | 3.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Experian PLC                              | Experian PLC                              | CUSIP: 000000000<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | JE        |    555742 | NS      | $19316808.23  | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Symrise AG                                | Symrise AG                                | CUSIP: 000000000<br>LEI: 529900D82I6R9601CF26 | Long             | EC               | CORP              | DE        |    287741 | NS      | $24358561.89  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Aker BP ASA                               | Aker BP ASA                               | CUSIP: 000000000<br>LEI: 549300NFTY73920OYK69 | Long             | EC               | CORP              | NO        |    565850 | NS      | $20773936.00  | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Svenska Cellulosa AB SCA                  | Svenska Cellulosa AB SCA                  | CUSIP: 000000000<br>LEI: 549300FW5JDRV1IJ0M67 | Long             | EC               | CORP              | SE        |    886719 | NS      | $10263469.71  | 0.70%             |  |  |  | No            |                  2 | On Loan: —       |
| CaixaBank SA                              | CaixaBank SA                              | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | EC               | CORP              | ES        |   2177096 | NS      | $26121656.73  | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| RELX PLC                                  | RELX PLC                                  | CUSIP: 000000000<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |    443467 | NS      | $14620756.83  | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Amadeus IT Group SA                       | Amadeus IT Group SA                       | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |    260328 | NS      | $14798414.80  | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Julius Baer Group Ltd                     | Julius Baer Group Ltd                     | CUSIP: 000000000<br>LEI: 5299007MF0604ZGJER92 | Long             | EC               | CORP              | CH        |    135351 | NS      | $9973820.36   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Glencore PLC                              | Glencore PLC                              | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |   3860396 | NS      | $29416236.42  | 1.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Novonesis Novozymes B                     | Novonesis Novozymes B                     | CUSIP: 000000000<br>LEI: 529900T6WNZXD2R3JW38 | Long             | EC               | CORP              | DK        |     43414 | NS      | $2568498.27   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Ireland Group PLC                 | Bank of Ireland Group PLC                 | CUSIP: 000000000<br>LEI: 635400C8EK6DRI12LJ39 | Long             | EC               | CORP              | IE        |    861655 | NS      | $15768728.50  | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| AIB Group PLC                             | AIB Group PLC                             | CUSIP: 000000000<br>LEI: 635400AKJBGNS5WNQL34 | Long             | EC               | CORP              | IE        |   2426609 | NS      | $25809227.36  | 1.75%             |  |  |  | No            |                  2 | On Loan: No      |
| IMI PLC                                   | IMI PLC                                   | CUSIP: 000000000<br>LEI: 2138002W9Q21PF751R30 | Long             | EC               | CORP              | GB        |    598241 | NS      | $20395474.17  | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Croda International PLC                   | Croda International PLC                   | CUSIP: 000000000<br>LEI: 2138004WCNBFJEEOXV26 | Long             | EC               | CORP              | GB        |     83664 | NS      | $3126250.43   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Dassault Systemes SE                      | Dassault Systemes SE                      | CUSIP: 000000000<br>LEI: 96950065LBWY0APQIM86 | Long             | EC               | CORP              | FR        |    649742 | NS      | $13228672.74  | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Group PLC                         | NatWest Group PLC                         | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |   4128816 | NS      | $30636042.61  | 2.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Haleon PLC                                | Haleon PLC                                | CUSIP: 000000000<br>LEI: 549300PSB3WWEODCUP19 | Long             | EC               | CORP              | GB        |   6206668 | NS      | $30708225.49  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext NV                               | Euronext NV                               | CUSIP: 000000000<br>LEI: 724500QJ4QSZ3H9QU415 | Long             | EC               | CORP              | NL        |    159056 | NS      | $25591920.93  | 1.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Reckitt Benckiser Group PLC               | Reckitt Benckiser Group PLC               | CUSIP: 000000000<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |    136585 | NS      | $9269023.12   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Hiscox Ltd                                | Hiscox Ltd                                | CUSIP: 000000000<br>LEI: 5493007JXOLJ0QCY2D70 | Long             | EC               | CORP              | BM        |    475498 | NS      | $9582968.11   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Spirax Group PLC                          | Spirax Group PLC                          | CUSIP: 000000000<br>LEI: 213800WFVZQMHOZP2W17 | Long             | EC               | CORP              | GB        |     70784 | NS      | $6335032.75   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| CANADIAN DOLLAR                           | CANADIAN DOLLAR                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | CA        |     13193 | NS      | $9483.60      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                                   | CRH PLC                                   | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |    184919 | NS      | $19438685.28  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson PLC                  | Willis Towers Watson PLC                  | CUSIP: 000000000<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |     66614 | NS      | $19364689.80  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPANESE YEN                              | JAPANESE YEN                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | JP        |         3 | NS      | $0.02         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTH KOREAN WON                          | SOUTH KOREAN WON                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | KR        |      7421 | NS      | $4.85         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Check Point Software Technologies Ltd     | Check Point Software Technologies Ltd     | CUSIP: 000000000<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |     63272 | NS      | $9038405.20   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| SWEDISH KRONA                             | SWEDISH KRONA                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | SE        |        90 | NS      | $9.46         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer