# EDGAR Filing Document

**Accession Number:** 0001065698
**File Stem:** 0001752724-25-200800
**Filing Date:** 2025-8
**Character Count:** 20456
**Document Hash:** 8360b476aad6450a0796c3a1ea4b5be0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-200800.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001752724-25-200800

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08879
- **FILM NUMBER:** 251248100

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

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

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

## Series and Classes Contracts Data

### MFS Global Real Estate Portfolio (Series ID: S000008069)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000021901 | Initial Class |  |
| C000021902 | Service Class |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

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

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

- **a. Name of Series:** MFS Global Real Estate Portfolio

- **b. EDGAR series identifier (if any):** S000008069

- **c. LEI of Series:** 549300YBJ6K5SOLBY732

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $170117857.53

**Total Liabilities:** $168571.44

**Net Assets:** $169949286.09

**Cash Not Reported:** $51201.11

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021901 | 0.32%                | 2.82%                | 0.78%                |
| Class ID C000021902 | 0.33%                | 2.84%                | 0.71%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-249422.94              | $811083.90                                 |
| Month 2  | $25061.74                | $4035803.05                                |
| Month 3  | $62225.81                | $422611.72                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Derwent London PLC                        | Derwent London PLC                        | CUSIP: 000000000<br>LEI: 213800BXKQ9KZNUR1M61 | Long             | EC               | CORP              | GB        |     70780 | NS      | $2013075.31   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Shaftesbury Capital PLC                   | Shaftesbury Capital PLC                   | CUSIP: 000000000<br>LEI: 549300TTXXZ1SHUI0D54 | Long             | EC               | CORP              | GB        |   1048272 | NS      | $2246138.86   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc                  | Highwoods Properties Inc                  | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |    101636 | NS      | $3159863.24   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Scentre Group                             | Scentre Group                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1275860 | NS      | $2989358.76   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                | Ventas Inc                                | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     83418 | NS      | $5267846.70   | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| KDX Realty Investment Corp                | KDX Realty Investment Corp                | CUSIP: 000000000<br>LEI: 353800FFT483NCIHFY42 | Long             | EC               | CORP              | JP        |      1714 | NS      | $1857959.10   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc                | Americold Realty Trust Inc                | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               | CORP              | US        |    114274 | NS      | $1900376.62   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Fudosan Co Ltd                     | Mitsui Fudosan Co Ltd                     | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |    600100 | NS      | $5813266.90   | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                       | Sun Communities Inc                       | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     30485 | NS      | $3856047.65   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                                   | BXP Inc                                   | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     46951 | NS      | $3167783.97   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                              | Prologis Inc                              | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    103378 | NS      | $10867095.36  | 6.39%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                     | American Homes 4 Rent                     | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |    106049 | NS      | $3825187.43   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Star Asia Investment Corp                 | Star Asia Investment Corp                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2512 | NS      | $997787.58    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Unibail-Rodamco-Westfield                 | Unibail-Rodamco-Westfield                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | N/A       |     31787 | NS      | $3038166.99   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodman Group                             | Goodman Group                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    323607 | NS      | $7292504.12   | 4.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Big Yellow Group PLC                      | Big Yellow Group PLC                      | CUSIP: 000000000<br>LEI: 213800W7Q4V2ZI8LIW31 | Long             | EC               | CORP              | GB        |    188880 | NS      | $2623772.65   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                       | American Tower Corp                       | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      7811 | NS      | $1726387.22   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trust           | Federal Realty Investment Trust           | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               | CORP              | US        |     39094 | NS      | $3713539.06   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Shurgard Self Storage Ltd                 | Shurgard Self Storage Ltd                 | CUSIP: 000000000<br>LEI: 549300J0UEIKU81XO336 | Long             | EC               | CORP              | GG        |     77336 | NS      | $3370625.68   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties Inc          | Ryman Hospitality Properties Inc          | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     23321 | NS      | $2301083.07   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                      | Lamar Advertising Co                      | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     21367 | NS      | $2593099.12   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Parkway Life Real Estate Investment Trust | Parkway Life Real Estate Investment Trust | CUSIP: 000000000<br>LEI: 549300I4DKVD2OF5LW91 | Long             | EC               | CORP              | SG        |    361500 | NS      | $1165670.47   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Cellnex Telecom SA                        | Cellnex Telecom SA                        | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |     81484 | NS      | $3162677.10   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc              | Sunstone Hotel Investors Inc              | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |    190951 | NS      | $1657454.68   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                        | Douglas Emmett Inc                        | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     75979 | NS      | $1142724.16   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Link REIT                                 | Link REIT                                 | CUSIP: 000000000<br>LEI: 529900XUE70U36QX5M62 | Long             | EC               | CORP              | HK        |    744600 | NS      | $3974387.10   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Grainger PLC                              | Grainger PLC                              | CUSIP: 000000000<br>LEI: 2138007CEIRKZMNI2979 | Long             | EC               | CORP              | GB        |    890164 | NS      | $2688143.33   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp                         | Kimco Realty Corp                         | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |    208718 | NS      | $4387252.36   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Hall Group                        | Charter Hall Group                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    170803 | NS      | $2157225.22   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Metropolitan Fund Invest            | Japan Metropolitan Fund Invest            | CUSIP: 000000000<br>LEI: 353800QDHNIP60E1LQ93 | Long             | EC               | CORP              | JP        |      3305 | NS      | $2340960.38   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                  | Essex Property Trust Inc                  | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |     16429 | NS      | $4655978.60   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Helios Towers PLC                         | Helios Towers PLC                         | CUSIP: 000000000<br>LEI: 213800DGC7GS4XCHCU30 | Long             | EC               | CORP              | GB        |   1045595 | NS      | $1745246.54   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                   | SBA Communications Corp                   | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |      7226 | NS      | $1696953.84   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS Institutional Money Market Portfolio  | MFS Institutional Money Market Portfolio  | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | EC               | RF                | US        |   4155679 | NS      | $4156094.86   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITE Group PLC/The                       | UNITE Group PLC/The                       | CUSIP: 000000000<br>LEI: 213800BBUUWVDH9YI827 | Long             | EC               | CORP              | GB        |     71076 | NS      | $826841.75    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                  | Simon Property Group Inc                  | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     30788 | NS      | $4949478.88   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                              | NNN REIT Inc                              | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     76212 | NS      | $3290834.16   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Apartment Properties REIT        | Canadian Apartment Properties REIT        | CUSIP: 134921105<br>LEI: 549300B1MYVTQEB2DI90 | Long             | EC               | CORP              | CA        |     90581 | NS      | $2954068.08   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage REIT                     | National Storage REIT                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1137979 | NS      | $1722610.55   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vonovia SE                                | Vonovia SE                                | CUSIP: 000000000<br>LEI: 5299005A2ZEP6AP7KM81 | Long             | EC               | CORP              | DE        |    123086 | NS      | $4336627.97   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communities Inc     | Mid-America Apartment Communities Inc     | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |     28212 | NS      | $4175658.12   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                  | Digital Realty Trust Inc                  | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     38891 | NS      | $6779868.03   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Segro PLC                                 | Segro PLC                                 | CUSIP: 000000000<br>LEI: 213800XC35KGM9NFC641 | Long             | EC               | CORP              | GB        |    286019 | NS      | $2668136.02   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                           | Weyerhaeuser Co                           | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |    118165 | NS      | $3035658.85   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                   | Extra Space Storage Inc                   | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35447 | NS      | $5226305.68   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc             | Rexford Industrial Realty Inc             | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |    101126 | NS      | $3597051.82   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc               | Healthcare Realty Trust Inc               | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |    230749 | NS      | $3659679.14   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                               | Equinix Inc                               | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     10250 | NS      | $8153567.50   | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc           | Equity LifeStyle Properties Inc           | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     61408 | NS      | $3787031.36   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalBridge Group Inc                   | DigitalBridge Group Inc                   | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Long             | EC               | CORP              | US        |     51890 | NS      | $537061.50    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-15

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

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer