# EDGAR Filing Document

**Accession Number:** 0000225604
**File Stem:** 0001752724-25-158181
**Filing Date:** 2025-6
**Character Count:** 111219
**Document Hash:** b8e5db134b9240c8ac14329d703a79ec
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-158181.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-158181

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20260131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS SERIES TRUST III
- **CENTRAL INDEX KEY:** 0000225604

**ORGANIZATION NAME:**
- **EIN:** 046414785
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02794
- **FILM NUMBER:** 251077289

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 18006372929

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS SERIES TRUST III /MA
- **DATE OF NAME CHANGE:** 19940411

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS HIGH INCOME FUND
- **DATE OF NAME CHANGE:** 19930408

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MASSACHUSETTS FINANCIAL HIGH INCOME TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### MFS Global High Yield Fund (Series ID: S000002428)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006484 | A            | MHOAX           |
| C000006485 | B            | MHOBX           |
| C000006486 | C            | MHOCX           |
| C000006487 | I            | MHOIX           |
| C000064677 | R1           | MHORX           |
| C000064678 | R2           | MHOSX           |
| C000064679 | R3           | MHOTX           |
| C000064680 | R4           | MHOUX           |
| C000064681 | R6           | MHOVX           |

## Nport-Ex

![](img95d43ced1.gif)

### Quarterly Report
April 30, 2025

MFS<sup>®</sup> Global High Yield Fund

![](img0f962bee2.gif)

HYO-Q1

------

### Portfolio of Investments
4/30/25 (unaudited)

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

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – 31.6% | Bonds – 31.6% | Bonds – 31.6% |
| Basic Industry – 0.3% | Basic Industry – 0.3% | Basic Industry – 0.3% |
| PeopleCert Wisdom Issuer PLC, 5.75%, 9/15/2026 (n) | &nbsp;&nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$493085 |
| PeopleCert Wisdom Issuer PLC, 5.75%, 9/15/2026 | &nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170030 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$663115 |
| Broadcasting – 0.7% | Broadcasting – 0.7% | Broadcasting – 0.7% |
| Banijay Group S.A.S., 8.125%, 5/01/2029 (n) | $&nbsp;&nbsp;&nbsp;294000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$301293 |
| Summer (BC) Holdco S.à r.l., "A", 9.25%, 10/31/2027 | &nbsp;&nbsp;&nbsp;507293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572531 |
| WMG Acquisition Corp., 2.25%, 8/15/2031 (n) | &nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425688 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$1299512 |
| Building – 0.2% | Building – 0.2% | Building – 0.2% |
| Standard Industries, Inc., 2.25%, 11/21/2026 (n) | &nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$475055 |
| Business Services – 1.0% | Business Services – 1.0% | Business Services – 1.0% |
| Almaviva - The Italian Innovation Co. S.p.A., 5%, 10/30/2030 (n) | &nbsp;&nbsp;&nbsp;447000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$516191 |
| Almaviva - The Italian Innovation Co. S.p.A., 5%, 10/30/2030 | &nbsp;&nbsp;&nbsp;234000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270221 |
| ams-OSRAM AG, 10.5%, 3/30/2029 | &nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640882 |
| Engineering Ingegneria Informatica S.p.A., 11.125%, 5/15/2028 | &nbsp;&nbsp;&nbsp;461000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551254 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$1978548 |
| Cable TV – 0.9% | Cable TV – 0.9% | Cable TV – 0.9% |
| Summer BidCo B.V., 10% (10% Cash or 10.75% PIK), 2/15/2029 (n)(p) | &nbsp;&nbsp;&nbsp;651128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$760373 |
| Virgin Media 02 Vendor Financing Notes V DAC, 7.875%, 3/15/2032 (n) | &nbsp;&nbsp;&nbsp;381000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495125 |
| Ziggo B.V., 2.875%, 1/15/2030 (n) | &nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269231 |
| Ziggo B.V., 2.875%, 1/15/2030 | &nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207101 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$1731830 |
| Chemicals – 0.9% | Chemicals – 0.9% | Chemicals – 0.9% |
| Sasol Financing (USA) LLC, 5.5%, 3/18/2031 | $1019000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$788804 |
| SPCM S.A., 2.625%, 2/01/2029 | &nbsp;&nbsp;&nbsp;456000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491144 |
| Synthos S.A., 2.5%, 6/07/2028 | &nbsp;&nbsp;&nbsp;483000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508265 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$1788213 |
| Conglomerates – 0.6% | Conglomerates – 0.6% | Conglomerates – 0.6% |
| Grupo KUO S.A.B. de C.V., 5.75%, 7/07/2027 (n) | $&nbsp;&nbsp;&nbsp;605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$586950 |
| SCC Power PLC, 8%, 12/31/2028 (n) | &nbsp;&nbsp;&nbsp;850966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425483 |
| SCC Power PLC, 4%, 5/17/2032 (n) | &nbsp;&nbsp;&nbsp;460939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110856 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$1123289 |
| Consumer Products – 0.4% | Consumer Products – 0.4% | Consumer Products – 0.4% |
| Flos B&B Italia S.p.A., 10%, 11/15/2028 (n) | &nbsp;&nbsp;&nbsp;406400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$482259 |
| Flos B&B ltalia S.p.A., 10%, 11/15/2028 | &nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142399 |
| Perrigo Finance Unlimited Co., 6.125%, 9/30/2032 | $&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218382 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$843040 |
| Consumer Services – 1.3% | Consumer Services – 1.3% | Consumer Services – 1.3% |
| Amber Finco PLC, 6.625%, 7/15/2029 (n) | &nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$295249 |
| Amber Finco PLC, 6.625%, 7/15/2029 | &nbsp;&nbsp;&nbsp;437000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516095 |
| Emeria S.A.S.U., 7.75%, 3/31/2028 | &nbsp;&nbsp;&nbsp;369000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376229 |
| Verisure Holding AB, 3.25%, 2/15/2027 | &nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352369 |
| Verisure Midholding AB, 5.25%, 2/15/2029 | &nbsp;&nbsp;&nbsp;915000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041288 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$2581230 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Containers – 0.6% | Containers – 0.6% | Containers – 0.6% |
| Can-Pack S.A./Eastern PA Land Investment Holding LLC, 3.875%, 11/15/2029 (n) | $&nbsp;&nbsp;&nbsp;434000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$397261 |
| San Miguel Industrias PET S.A., 3.75%, 8/02/2028 (n) | &nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587200 |
| Trivium Packaging Finance B.V., 8.5%, 8/15/2027 (n) | &nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197677 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$1182138 |
| Emerging Market Quasi-Sovereign – 2.7% | Emerging Market Quasi-Sovereign – 2.7% | Emerging Market Quasi-Sovereign – 2.7% |
| Bulgarian Energy Holding EAD, 2.45%, 7/22/2028 | &nbsp;&nbsp;&nbsp;970000 | &nbsp;&nbsp;&nbsp;&nbsp;$1031923 |
| Navoi Mining & Metallurgical Co. (Republic of Uzbekistan), 6.95%, 10/17/2031 (n) | $&nbsp;&nbsp;&nbsp;731000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736365 |
| Petroleos Mexicanos, 6.5%, 3/13/2027 | &nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434792 |
| Petroleos Mexicanos, 6.84%, 1/23/2030 | &nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400831 |
| Petroleos Mexicanos, 10%, 2/07/2033 | &nbsp;&nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460726 |
| Petroleos Mexicanos, 6.5%, 6/02/2041 | 1385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953892 |
| Petroleos Mexicanos, 7.69%, 1/23/2050 | &nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466943 |
| Telecommunications Co. (Republic of Serbia), 7%, 10/28/2029 (n) | &nbsp;&nbsp;&nbsp;697000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690961 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$5176433 |
| Energy - Independent – 0.8% | Energy - Independent – 0.8% | Energy - Independent – 0.8% |
| Azule Energy Finance PLC, 8.125%, 1/23/2030 (n) | $&nbsp;&nbsp;&nbsp;471000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$454044 |
| Kosmos Energy Ltd., 8.75%, 10/01/2031 | &nbsp;&nbsp;&nbsp;372000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299880 |
| Sierracol Energy Andina LLC, 6%, 6/15/2028 (n) | &nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413920 |
| Trident Energy Finance PLC, 12.5%, 11/30/2029 (n) | &nbsp;&nbsp;&nbsp;448000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422791 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$1590635 |
| Entertainment – 0.4% | Entertainment – 0.4% | Entertainment – 0.4% |
| Motion Bondco DAC, 6.625%, 11/15/2027 (n) | $&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$189141 |
| Pinnacle Bidco PLC, 10%, 10/11/2028 | &nbsp;&nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650389 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$839530 |
| Financial Institutions – 1.6% | Financial Institutions – 1.6% | Financial Institutions – 1.6% |
| Heimstaden AB, 4.375%, 3/06/2027 | &nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$427198 |
| Heimstaden AB, 6.75%, 1/15/2174 | &nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168244 |
| IIFL Finance Ltd., 8.75%, 7/24/2028 (n) | $&nbsp;&nbsp;&nbsp;554000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526300 |
| Muthoot Finance Ltd., 7.125%, 2/14/2028 (n) | &nbsp;&nbsp;&nbsp;686000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681671 |
| Project Grand UK PLC, 9%, 6/01/2029 (n) | &nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534759 |
| Vivion Investments S.à r.l., 6.5%, 8/31/2028 | &nbsp;&nbsp;&nbsp;621885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677943 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$3016115 |
| Food & Beverages – 0.9% | Food & Beverages – 0.9% | Food & Beverages – 0.9% |
| Central American Bottling Corp., 5.25%, 4/27/2029 (n) | $1116000 | &nbsp;&nbsp;&nbsp;&nbsp;$1067970 |
| Flora Food Management B.V., 6.875%, 7/02/2029 | &nbsp;&nbsp;&nbsp;533000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622839 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$1690809 |
| Forest & Paper Products – 0.2% | Forest & Paper Products – 0.2% | Forest & Paper Products – 0.2% |
| Fedrigoni S.p.A., 6.125%, 6/15/2031 | &nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$438979 |
| Gaming & Lodging – 1.6% | Gaming & Lodging – 1.6% | Gaming & Lodging – 1.6% |
| AccorInvest Group S.A., 6.375%, 10/15/2029 (n) | &nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$648011 |
| Allwyn International A.S., 3.875%, 2/15/2027 (n) | &nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636860 |
| Allwyn International A.S., 3.875%, 2/15/2027 | &nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388879 |
| Lottomatica S.p.A./Roma, 5.375%, 6/01/2030 (n) | &nbsp;&nbsp;&nbsp;688000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805710 |
| Melco Resorts Finance Ltd., 5.375%, 12/04/2029 | $&nbsp;&nbsp;&nbsp;411000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370876 |
| Wynn Macau Ltd., 5.625%, 8/26/2028 (n) | &nbsp;&nbsp;&nbsp;294000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280624 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$3130960 |
| Industrial – 0.4% | Industrial – 0.4% | Industrial – 0.4% |
| Albion Financing 1 S.à r.l., 5.25%, 10/15/2026 | &nbsp;&nbsp;&nbsp;128000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$145423 |
| Pachelbel Bidco S.p.A., 7.125%, 5/17/2031 (n) | &nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370572 |
| Pachelbel Bidco S.p.A., 7.125%, 5/17/2031 | &nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298849 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$814844 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| International Market Quasi-Sovereign – 0.3% | International Market Quasi-Sovereign – 0.3% | International Market Quasi-Sovereign – 0.3% |
| Wolf Midstream Canada LP, 6.4%, 7/18/2029 (n) | &nbsp;&nbsp;&nbsp;813000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$605946 |
| Major Banks – 0.5% | Major Banks – 0.5% | Major Banks – 0.5% |
| UniCredit S.p.A., 3.875% to 6/03/2027, FLR (EUR ICE Swap Rate - 5yr. + 4.081%) to 6/03/2070 | &nbsp;&nbsp;&nbsp;845000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$923754 |
| Medical & Health Technology & Services – 0.5% | Medical & Health Technology & Services – 0.5% | Medical & Health Technology & Services – 0.5% |
| Ephios Subco 3 S.à r.l., 7.875%, 1/31/2031 (n) | &nbsp;&nbsp;&nbsp;388000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$463352 |
| Laboratoire Eimer Selas, 5%, 2/01/2029 | &nbsp;&nbsp;&nbsp;494000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506799 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$970151 |
| Metals & Mining – 1.5% | Metals & Mining – 1.5% | Metals & Mining – 1.5% |
| Aris Mining Corp., 8%, 10/31/2029 (n) | $&nbsp;&nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$408026 |
| Baffinland Iron Mines Corp./Baffinland Iron Mines LP, 8.75%, 7/15/2026 (n) | &nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123019 |
| Compania de Minas Buenaventura S.A.A., 6.8%, 2/04/2032 (n) | &nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521068 |
| First Quantum Minerals Ltd., 8%, 3/01/2033 (n) | &nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232504 |
| Novelis Sheet Ingot GmbH, 3.375%, 4/15/2029 (n) | &nbsp;&nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494378 |
| Petra Diamonds US$ Treasury PLC, 9.75%, 3/08/2026 (n) | $&nbsp;&nbsp;&nbsp;359667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194259 |
| Samarco Mineracao S.A., 9.5% PIK to 12/30/2025, (4% Cash + 5% PIK) to 12/30/2026, (5.5% Cash + 3.5% PIK) to 12/30/2027, 9.25% Cash to 12/30/2029, 9.5% Cash to 6/30/2031 (p) | 1031095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970440 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$2943694 |
| Midstream – 0.2% | Midstream – 0.2% | Midstream – 0.2% |
| Peru LNG, 5.375%, 3/22/2030 | $&nbsp;&nbsp;&nbsp;537543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$486082 |
| Network & Telecom – 1.1% | Network & Telecom – 1.1% | Network & Telecom – 1.1% |
| Iliad Holding S.A.S., 5.625%, 10/15/2028 (n) | &nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$322749 |
| Iliad Holding S.A.S., 5.375%, 4/15/2030 (n) | &nbsp;&nbsp;&nbsp;124000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143462 |
| Iliad Holding S.A.S., 6.875%, 4/15/2031 (n) | &nbsp;&nbsp;&nbsp;151000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182402 |
| Iliad S.A., 5.625%, 2/15/2030 | &nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360671 |
| Kaixo Bondco Telecom S.A., 5.125%, 9/30/2029 (n) | &nbsp;&nbsp;&nbsp;835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954964 |
| Kaixo Bondco Telecom S.A., 5.125%, 9/30/2029 | &nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114367 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$2078615 |
| Oils – 0.5% | Oils – 0.5% | Oils – 0.5% |
| FS Luxembourg S.à r.l., 8.875%, 2/12/2031 (n) | $&nbsp;&nbsp;&nbsp;429000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$431268 |
| MC Brazil Downstream Trading S.à r.l., 7.25%, 6/30/2031 (n) | &nbsp;&nbsp;&nbsp;701531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542284 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$973552 |
| Other Banks & Diversified Financials – 1.3% | Other Banks & Diversified Financials – 1.3% | Other Banks & Diversified Financials – 1.3% |
| Banco GNB Sudameris S.A., 7.5% to 4/16/2026, FLR (CMT - 5yr. + 6.66%) to 4/16/2031 | $&nbsp;&nbsp;&nbsp;755000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$732557 |
| BBVA Bancomer S.A. (Texas), 8.125%, 1/08/2039 (n) | &nbsp;&nbsp;&nbsp;754000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768266 |
| Intesa Sanpaolo S.p.A., 4.125% to 2/27/2030, FLR (EUR Swap Rate - 5yr. + 4.274%) to 2/27/2070 | &nbsp;&nbsp;&nbsp;895000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935263 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$2436086 |
| Pharmaceuticals – 1.8% | Pharmaceuticals – 1.8% | Pharmaceuticals – 1.8% |
| Biocon Biologics Global PLC, 6.67%, 10/09/2029 (n) | $&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$405687 |
| Grifols S.A., 3.875%, 10/15/2028 | &nbsp;&nbsp;&nbsp;442000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469425 |
| Neopharmed Gentili S.p.A., 7.125%, 4/08/2030 (n) | &nbsp;&nbsp;&nbsp;596000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694294 |
| Neopharmed Gentili S.p.A., 7.125%, 4/08/2030 | &nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116492 |
| Organon Finance 1 LLC, 2.875%, 4/30/2028 (n) | &nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145498 |
| Rossini S.à r.l., 6.75%, 12/31/2029 (n) | &nbsp;&nbsp;&nbsp;401000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472653 |
| Rossini S.à r.l., 6.75%, 12/31/2029 | &nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117869 |
| Teva Pharmaceutical Finance Netherlands III B.V., 4.75%, 5/09/2027 | $1025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005549 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$3427467 |
| Pollution Control – 0.2% | Pollution Control – 0.2% | Pollution Control – 0.2% |
| Ambipar Lux S.à r.l., 10.875%, 2/05/2033 | $&nbsp;&nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$376106 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Precious Metals & Minerals – 0.4% | Precious Metals & Minerals – 0.4% | Precious Metals & Minerals – 0.4% |
| Capstone Copper Corp., 6.75%, 3/31/2033 (n) | $&nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$407762 |
| Eldorado Gold Corp., 6.25%, 9/01/2029 (n) | &nbsp;&nbsp;&nbsp;&nbsp;342000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337111 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$744873 |
| Restaurants – 0.2% | Restaurants – 0.2% | Restaurants – 0.2% |
| Waga Bondco Ltd., 8.5%, 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$390634 |
| Retailers – 1.7% | Retailers – 1.7% | Retailers – 1.7% |
| B&M European Value Retail S.A., 8.125%, 11/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$954181 |
| Bubbles Bidco S.p.A., 6.5%, 9/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113191 |
| Bubbles BidCo S.p.A., 6.5%, 9/30/2031 (n) | &nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509358 |
| CD&R Firefly Bidco PLC, 8.625%, 4/30/2029 (n) | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475779 |
| Fressnapf Holding SE, 5.25%, 10/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684831 |
| Maxeda DIY Holding B.V., 5.875%, 10/01/2026 | &nbsp;&nbsp;&nbsp;&nbsp;572000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532518 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$3269858 |
| Telecommunications - Wireless – 2.6% | Telecommunications - Wireless – 2.6% | Telecommunications - Wireless – 2.6% |
| Altice France S.A., 3.375%, 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;286000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$260411 |
| IHS Holding Ltd., 6.25%, 11/29/2028 (n) | $&nbsp;&nbsp;&nbsp;&nbsp;785000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745701 |
| Millicom International Cellular S.A., 5.125%, 1/15/2028 (n) | &nbsp;&nbsp;&nbsp;&nbsp;617400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602243 |
| PLT VII Finance S.à r.l., 6%, 6/15/2031 (n) | &nbsp;&nbsp;&nbsp;&nbsp;648000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752531 |
| PLT VII Finance S.à r.l., 6%, 6/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116131 |
| VMED O2 UK Financing I PLC, 4%, 1/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366233 |
| Vodafone Group PLC, 3% to 8/27/2030, FLR (EUR Swap Rate - 5yr. + 3.477%) to 8/27/2050, FLR (EUR Swap Rate - 5yr. + 4.227%) to 8/27/2080 | &nbsp;&nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746667 |
| WP / AP Telecom Holdings III B.V., 5.5%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;852000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957949 |
| Zegona Finance PLC, 6.75%, 7/15/2029 (n) | &nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149607 |
| Zegona Finance PLC, 6.75%, 7/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;238000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284852 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$4982325 |
| Transportation - Services – 1.1% | Transportation - Services – 1.1% | Transportation - Services – 1.1% |
| Acu Petroleo Luxembourg S.à r.l., 7.5%, 1/13/2032 | $&nbsp;&nbsp;&nbsp;&nbsp;419802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$421094 |
| Edge Finco PLC, 8.125%, 8/15/2031 (n) | &nbsp;&nbsp;&nbsp;&nbsp;414000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559600 |
| Edge Finco PLC, 8.125%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135169 |
| Hidrovias International Finance S.à r.l., 4.95%, 2/08/2031 | $&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581296 |
| Kingston Airport Revenue Finance, 6.75%, 12/15/2036 (n) | &nbsp;&nbsp;&nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528848 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$2226007 |
| Utilities - Electric Power – 1.9% | Utilities - Electric Power – 1.9% | Utilities - Electric Power – 1.9% |
| AES Andes S.A., 8.15% to 6/10/2030, FLR (CMT - 5yr. + 3.835%) to 6/10/2035, FLR (CMT - 5yr. + 4.085%) to 6/10/2050, FLR (CMT - 5yr. + 4.835%) to 6/10/2055 (n) | $&nbsp;&nbsp;&nbsp;&nbsp;672000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$684767 |
| Azure Power Energy Ltd., 3.575%, 8/19/2026 (n) | &nbsp;&nbsp;&nbsp;&nbsp;387093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363868 |
| Mong Duong Finance Holdings B.V., 5.125%, 5/07/2029 (n) | &nbsp;&nbsp;&nbsp;&nbsp;715942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687368 |
| ReNew Wind Energy AP2/ReNew Power Private Ltd., 4.5%, 7/14/2028 (n) | &nbsp;&nbsp;&nbsp;&nbsp;529000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490288 |
| Saavi Energia S.à r.l., 8.875%, 2/10/2035 (n) | &nbsp;&nbsp;&nbsp;&nbsp;374000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375870 |
| Termocandelaria Power S.A., 7.75%, 9/17/2031 (n) | &nbsp;&nbsp;&nbsp;&nbsp;376000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374192 |
| Termocandelaria Power S.A., 7.75%, 9/17/2031 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398076 |
| TerraForm Global Operating LLC, 6.125%, 3/01/2026 (n) | &nbsp;&nbsp;&nbsp;&nbsp;304000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297224 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$3671653 |
| Utilities - Other – 0.3% | Utilities - Other – 0.3% | Utilities - Other – 0.3% |
| Aegea Finance S.à r.l., 6.75%, 5/20/2029 (n) | $&nbsp;&nbsp;&nbsp;&nbsp;586000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$580354 |
| **Total Bonds** |  | &nbsp;&nbsp;**$61451432** |
| Mutual Funds (h) – 67.9% | Mutual Funds (h) – 67.9% | Mutual Funds (h) – 67.9% |
| Mutual Funds – 66.4% | Mutual Funds – 66.4% | Mutual Funds – 66.4% |
| MFS High Yield Pooled Portfolio (v)(y) | 15737185 | $129202292 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Mutual Funds (h) – continued | Mutual Funds (h) – continued | Mutual Funds (h) – continued |
| Money Market Funds – 1.5% | Money Market Funds – 1.5% |  |
| MFS Institutional Money Market Portfolio, 4.36% (v) | 2893005 | &nbsp;&nbsp;&nbsp;$2893004 |
| **Total Mutual Funds** | **Total Mutual Funds** | &nbsp;&nbsp;&nbsp;**$132095296** |
| Other Assets, Less Liabilities – 0.5% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997990 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp;&nbsp;**$194544718** |

---

(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 $132,095,296 and $61,451,432, respectively.

(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from
registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $32,307,225, representing 16.6% of net assets.

(p) Payment-in-kind (PIK) security for which interest income may be received in additional securities and/or cash.

(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.

(y) The current Financial & Other Information report for MFS High Yield Pooled Portfolio as of April 30, 2025 has been included at the end of this report.

---

| | |
|:---|:---|
| The following abbreviations are used in this report and are defined: | The following abbreviations are used in this report and are defined: |
| CMT | Constant Maturity Treasury |
| FLR | Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate reported may not be the current rate. All reference rates are USD unless otherwise noted. |
| ICE | Intercontinental Exchange |
| Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of abbreviations is shown below: | Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of abbreviations is shown below: |
| CAD | Canadian Dollar |
| EUR | Euro |
| GBP | British Pound |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivative Contracts at 4/30/25** | **Derivative Contracts at 4/30/25** | **Derivative Contracts at 4/30/25** | **Derivative Contracts at 4/30/25** | **Derivative Contracts at 4/30/25** | **Derivative Contracts at 4/30/25** | **Derivative Contracts at 4/30/25** |
| **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** |
| **Currency<br> Purchased** | **Currency<br> Purchased** | &nbsp;&nbsp;**Currency<br> Sold** | &nbsp;&nbsp;**Currency<br> Sold** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;1377122 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1200917 | &nbsp;&nbsp;HSBC Bank | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;$9919 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137333 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102480 | &nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717 |
|  |  |  |  |  |  | &nbsp;&nbsp;$10636 |
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148146 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169232 | &nbsp;&nbsp;Merrill Lynch International | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;$(573) |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;3004155 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;3435880 | &nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;(15752) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173334 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239471 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1062) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171549 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236995 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1043) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243768 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336534 | &nbsp;&nbsp;Merrill Lynch International | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1314) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;7373101 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;6497895 | &nbsp;&nbsp;Barclays Bank PLC | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;(24531) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;9932896 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;8755076 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;(34459) |
| USD | &nbsp;&nbsp;13971007 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;12308553 | &nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;(41861) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;3650959 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;2796316 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;(76813) |
|  |  |  |  |  |  | &nbsp;&nbsp;$(197408) |

---

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

------

### Supplemental Information
4/30/25 (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

The investments of the fund and the MFS High Yield Pooled Portfolio are valued as described below.

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. Debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Exchange-traded options are generally valued at the last sale or official closing price on their primary exchange as provided by a third-party pricing service. Exchange-traded options for which there were no sales reported that day are generally valued at the last daily bid quotation on their primary exchange as provided by a third-party pricing service. For put options, the position may be valued at the last daily ask quotation if there are no trades reported during the day. Options not traded on an exchange are generally valued at a broker/dealer bid quotation. Foreign currency options are generally valued at valuations provided by a third-party pricing service. Futures contracts are generally valued at last posted settlement price on their primary exchange as provided by a third-party pricing service. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation on their primary exchange as provided by a third-party pricing service. Forward foreign currency exchange contracts are generally valued at the mean of bid and asked prices for the time period interpolated from rates provided by a third-party pricing service for proximate time periods. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. Pricing services generally value debt instruments assuming orderly transactions of institutional round lot sizes, but a fund may hold or transact in such securities in smaller, odd lot sizes. In instances where a fund holds an odd lot size position in a debt instrument, such position will typically be valued using the pricing agent's institutional round lot price for the debt instrument. Odd lots may trade at lower prices than institutional round lots, and the fund may receive different prices when it sells odd lot positions than it would receive for sales of institutional round lot positions. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

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

------

Supplemental Information (unaudited) – continued

Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. Other financial instruments are derivative instruments, such as forward foreign currency exchange contracts. The following is a summary of the levels used as of April 30, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | &nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;**Total** |
| Non - U.S. Sovereign Debt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$5782379 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5782379 |
| U.S. Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1759001 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1759001 |
| Foreign Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;53910052 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53910052 |
| Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;132095296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;132095296 |
| Total | &nbsp;&nbsp;&nbsp;$132095296 | &nbsp;&nbsp;&nbsp;$61451432 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$193546728 |
| **Other Financial Instruments** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts – Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10636 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10636 |
| Forward Foreign Currency Exchange Contracts – Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(197408) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(197408) |

---

For further information regarding security characteristics, see the Portfolio of Investments. Please refer to the MFS High Yield Pooled Portfolio's shareholder report for further information regarding the levels used in valuing its assets and liabilities.

(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. For the purposes of this report, the following were affiliated issuers for the period ended April 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp;**Beginning<br> Value** | &nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;**Sales<br> Proceeds** | &nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation or<br> Depreciation** | &nbsp;&nbsp;**Ending<br> Value** |
| MFS High Yield Pooled Portfolio | &nbsp;&nbsp;$117133676 | &nbsp;&nbsp;$17456424 | &nbsp;&nbsp;&nbsp;&nbsp;$3293478 | &nbsp;&nbsp;$(337485) | &nbsp;&nbsp;$(1756845) | &nbsp;&nbsp;$129202292 |
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3066027 | &nbsp;&nbsp;&nbsp;&nbsp;17761356 | &nbsp;&nbsp;&nbsp;&nbsp;17933337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(815) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(227) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2893004 |
|  | &nbsp;&nbsp;$120199703 | &nbsp;&nbsp;$35217780 | &nbsp;&nbsp;$21226815 | &nbsp;&nbsp;$(338300) | &nbsp;&nbsp;$(1757072) | &nbsp;&nbsp;$132095296 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Capital Gain<br> Distributions** |
| MFS High Yield Pooled Portfolio | &nbsp;&nbsp;$2121060 | &nbsp;&nbsp;$— |
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41475 | &nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;$2162535 | &nbsp;&nbsp;$— |

---

(3) Issuer Country Weightings

Issuer country weighting percentages of portfolio holdings based on net assets, as of April 30, 2025, are as follows:

---

| | |
|:---|:---|
| United States | 59.0% |
| United Kingdom | 4.8% |
| Italy | 4.2% |
| Canada | 3.7% |
| France | 3.0% |
| Brazil | 2.5% |
| Mexico | 2.3% |
| Netherlands | 2.2% |
| Luxembourg | 2.1% |
| Other Countries | 16.2% |

---

These issuer country weighting percentages include both accrued interest amounts and the equivalent exposure from any derivative holdings, if applicable. Percentages reflect exposure to the underlying fund holdings including cash & cash equivalents.

## 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 Series Trust III

- **b. Investment Company Act file number:** 811-02794

- **c. CIK number of Registrant:** 0000225604

- **d. LEI of Registrant:** 549300V6TTODTL97GD50

- **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 High Yield Fund

- **b. EDGAR series identifier (if any):** S000002428

- **c. LEI of Series:** IAJ1R15XQSLN6MYDI525

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $195669811.38

**Total Liabilities:** $1120002.35

**Net Assets:** $194549809.03

**Cash Not Reported:** $78976.03

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -7.01387760 | **1-Year:** -190.50226590 | **5-Year:** -825.91129880 | **10-Year:** -1175.76631160 | **30-Year:** -302.87062070

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

- **3-Month:** -153.84990240 | **1-Year:** -5082.67247340 | **5-Year:** -10006.05450590 | **10-Year:** -1589.91861520 | **30-Year:** -75.75344660

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006485 | 0.74%                | -1.03%               | -0.33%               |
| Class ID C000064678 | 0.78%                | -1.00%               | -0.11%               |
| Class ID C000064679 | 0.80%                | -0.97%               | -0.09%               |
| Class ID C000006486 | 0.74%                | -1.04%               | -0.15%               |
| Class ID C000006487 | 0.82%                | -0.96%               | -0.07%               |
| Class ID C000064681 | 0.83%                | -0.95%               | -0.06%               |
| Class ID C000064680 | 0.82%                | -0.95%               | -0.07%               |
| Class ID C000006484 | 0.80%                | -0.98%               | -0.09%               |
| Class ID C000064677 | 0.74%                | -1.04%               | -0.15%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-162122.65              | $780169.03                                 |
| Month 2  | $9550.57                 | $-1400680.77                               |
| Month 3  | $33179.28                | $577800.58                                 |

**Designated Index Information**

- **Index Name:** BofaML Global HY Constrained

- **Index Identifier:** MLGHYC

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Aris Mining Corp.                                                         | Aris Mining Corp.                                                         | CUSIP: 04040YAB5<br>LEI: 5493001GJ5TILX6L1F82 | Long             | DBT              | CORP              | CA        |    405000 | PA      | $408026.63    | 0.21%             | 2029-10-31      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Termocandelaria Power SA                                                  | Termocandelaria Power SA                                                  | CUSIP: N/A<br>LEI: 549300YDORW43JL6G659       | Long             | DBT              | CORP              | ES        |    400000 | PA      | $398076.00    | 0.20%             | 2031-09-17      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| IHS Holding Ltd.                                                          | IHS Holding Ltd.                                                          | CUSIP: 44963HAB1<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    785000 | PA      | $745701.39    | 0.38%             | 2028-11-29      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Emeria SASU                                                               | Emeria SASU                                                               | CUSIP: N/A<br>LEI: 969500SA2FHM81LPJ311       | Long             | DBT              | CORP              | FR        |    369000 | PA      | $376228.72    | 0.19%             | 2028-03-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Neopharmed Gentili SpA                                                    | Neopharmed Gentili SpA                                                    | CUSIP: N/A<br>LEI: 815600C8FD3DCB866E50       | Long             | DBT              | CORP              | IT        |    596000 | PA      | $694294.40    | 0.36%             | 2030-04-08      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Central American Bottling Corp.                                           | Central American Bottling Corp.                                           | CUSIP: 15239XAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |   1116000 | PA      | $1067970.37   | 0.55%             | 2029-04-27      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Ambipar Lux Sarl                                                          | Ambipar Lux Sarl                                                          | CUSIP: N/A<br>LEI: 9845008C0E14F9BDEK55       | Long             | DBT              | CORP              | LU        |    385000 | PA      | $376106.50    | 0.19%             | 2033-02-05      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| Iliad Holding SASU                                                        | Iliad Holding SASU                                                        | CUSIP: N/A<br>LEI: 9695009PXA7OI9NXN582       | Long             | DBT              | CORP              | FR        |    280000 | PA      | $322748.97    | 0.17%             | 2028-10-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| PLT VII Finance Sarl                                                      | PLT VII Finance Sarl                                                      | CUSIP: N/A<br>LEI: 894500SKZV4JDP64R249       | Long             | DBT              | CORP              | LU        |    100000 | PA      | $116131.29    | 0.06%             | 2031-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| IIFL Finance Ltd.                                                         | IIFL Finance Ltd.                                                         | CUSIP: 44964HAA2<br>LEI: 335800CZ46UJRS34JR78 | Long             | DBT              | CORP              | IN        |    554000 | PA      | $526300.00    | 0.27%             | 2028-07-24      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| ams-OSRAM AG                                                              | ams-OSRAM AG                                                              | CUSIP: N/A<br>LEI: 5299001JPPT2QFTV5D76       | Long             | DBT              | CORP              | AT        |    570000 | PA      | $640881.57    | 0.33%             | 2029-03-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| MFS Institutional Money Market Portfolio                                  | MFS Institutional Money Market Portfolio, Class A                         | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        |   2873218 | NS      | $2873218.15   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Fressnapf Holding SE                                                      | Fressnapf Holding SE                                                      | CUSIP: N/A<br>LEI: 529900NLSO3VLFW8JQ35       | Long             | DBT              | CORP              | DE        |    600000 | PA      | $684831.62    | 0.35%             | 2031-10-31      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Heimstaden AB                                                             | Heimstaden AB                                                             | CUSIP: N/A<br>LEI: 549300WD2QBD89VBPV88       | Long             | DBT              | CORP              | SE        |    200000 | PA      | $168243.60    | 0.09%             | 2026-10-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| KUO SAB de CV                                                             | KUO SAB de CV                                                             | CUSIP: 40052CAC0<br>LEI: 549300WIYIAVCFZI6Z04 | Long             | DBT              | CORP              | MX        |    605000 | PA      | $586949.83    | 0.30%             | 2027-07-07      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                       | Petroleos Mexicanos                                                       | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    640000 | PA      | $466943.38    | 0.24%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                                          | Altice France SA                                                          | CUSIP: N/A<br>LEI: 5493001ZMCICV4N02J21       | Long             | DBT              | CORP              | FR        |    286000 | PA      | $260411.06    | 0.13%             | 2028-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico | CUSIP: 07336UAB9<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |    754000 | PA      | $768266.43    | 0.39%             | 2039-01-08      | Variable      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Capstone Copper Corp.                                                     | Capstone Copper Corp.                                                     | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |    415000 | PA      | $407761.89    | 0.21%             | 2033-03-31      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| UniCredit SpA                                                             | UniCredit SpA                                                             | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | DBT              | CORP              | IT        |    845000 | PA      | $923754.21    | 0.47%             | 2027-06-03      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| SAN Miguel Industrias Pet SA                                              | SAN Miguel Industrias Pet SA                                              | CUSIP: 79911QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | PE        |    640000 | PA      | $587200.00    | 0.30%             | 2028-08-02      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Muthoot Finance Ltd.                                                      | Muthoot Finance Ltd.                                                      | CUSIP: 62828L2C6<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |    686000 | PA      | $681671.22    | 0.35%             | 2028-02-14      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Ziggo BV                                                                  | Ziggo BV                                                                  | CUSIP: N/A<br>LEI: 213800TQASLF9JXH5J59       | Long             | DBT              | CORP              | NL        |    260000 | PA      | $269231.39    | 0.14%             | 2030-01-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| CD&R Firefly Bidco plc                                                    | CD&R Firefly Bidco plc                                                    | CUSIP: N/A<br>LEI: 213800OAU5VX61DYZ558       | Long             | DBT              | CORP              | GB        |    350000 | PA      | $475779.02    | 0.24%             | 2029-04-30      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-34459.39    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Eldorado Gold Corp.                                                       | Eldorado Gold Corp.                                                       | CUSIP: 284902AF0<br>LEI: 5493004PWQ01YDD1IH62 | Long             | DBT              | CORP              | CA        |    342000 | PA      | $337110.87    | 0.17%             | 2029-09-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Aegea Finance SARL                                                        | Aegea Finance SARL                                                        | CUSIP: 00775CAB2<br>LEI: 213800V6WTKUT1XWIZ47 | Long             | DBT              | CORP              | LU        |    586000 | PA      | $580353.77    | 0.30%             | 2029-05-20      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Almaviva-The Italian Innovation Co. SpA                                   | Almaviva-The Italian Innovation Co. SpA                                   | CUSIP: N/A<br>LEI: 815600A862DA4DD9E211       | Long             | DBT              | CORP              | IT        |    447000 | PA      | $516191.07    | 0.27%             | 2030-10-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Sasol Financing USA LLC                                                   | Sasol Financing USA LLC                                                   | CUSIP: 80386WAD7<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |   1019000 | PA      | $788804.23    | 0.41%             | 2031-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lottomatica Group SpA                                                     | Lottomatica Group Spa                                                     | CUSIP: N/A<br>LEI: 549300R72LKEGT4EX026       | Long             | DBT              | CORP              | IT        |    688000 | PA      | $805710.17    | 0.41%             | 2030-06-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                                       | Intesa Sanpaolo SpA                                                       | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | DBT              | CORP              | IT        |    895000 | PA      | $935262.61    | 0.48%             | 2030-02-27      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-32868.54    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Azule Energy Finance plc                                                  | Azule Energy Finance plc                                                  | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    471000 | PA      | $454044.00    | 0.23%             | 2030-01-23      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Motion Bondco DAC                                                         | Motion Bondco DAC                                                         | CUSIP: 61978XAA5<br>LEI: 635400KFD3IETNQLA755 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $189141.00    | 0.10%             | 2027-11-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Saavi Energia Sarl                                                        | Saavi Energia Sarl                                                        | CUSIP: 78518PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    374000 | PA      | $375870.00    | 0.19%             | 2035-02-10      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Iliad Holding SASU                                                        | Iliad Holding SASU                                                        | CUSIP: N/A<br>LEI: 9695009PXA7OI9NXN582       | Long             | DBT              | CORP              | FR        |    124000 | PA      | $143461.97    | 0.07%             | 2030-04-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Kingston Airport Revenue Finance Ltd.                                     | Kingston Airport Revenue Finance Ltd.                                     | CUSIP: 49647QAA6<br>LEI: 254900SK2YRR95AVHU30 | Long             | DBT              | CORP              | KY        |    535000 | PA      | $528847.50    | 0.27%             | 2036-12-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-43944.44    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Verisure Holding AB                                                       | Verisure Holding AB                                                       | CUSIP: N/A<br>LEI: 549300VQQCWGISM3N408       | Long             | DBT              | CORP              | SE        |    315000 | PA      | $352369.31    | 0.18%             | 2027-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| WMG Acquisition Corp.                                                     | WMG Acquisition Corp.                                                     | CUSIP: N/A<br>LEI: 549300NAS11NXI33CP80       | Long             | DBT              | CORP              | US        |    410000 | PA      | $425687.70    | 0.22%             | 2031-08-15      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-7527.05     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III BV                            | Teva Pharmaceutical Finance Netherlands III BV                            | CUSIP: 88167AAP6<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1025000 | PA      | $1005548.99   | 0.52%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Virgin Media O2 Vendor Financing Notes V DAC                              | Virgin Media O2 Vendor Financing Notes V DAC                              | CUSIP: N/A<br>LEI: 635400ASSEVCXAPVGC36       | Long             | DBT              | CORP              | IE        |    381000 | PA      | $495124.65    | 0.25%             | 2032-03-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Pachelbel Bidco SpA                                                       | Pachelbel Bidco SpA                                                       | CUSIP: N/A<br>LEI: 8156005DA07CDD50CC46       | Long             | DBT              | CORP              | IT        |    250000 | PA      | $298848.95    | 0.15%             | 2031-05-17      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-24531.07    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| iliad SA                                                                  | iliad SA                                                                  | CUSIP: N/A<br>LEI: 969500FZ9BTRZS3JNB97       | Long             | DBT              | CORP              | FR        |    300000 | PA      | $360671.12    | 0.19%             | 2030-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Petra Diamonds US Treasury plc                                            | Petra Diamonds US Treasury plc                                            | CUSIP: N/A<br>LEI: 635400LZYOO6WHAO2H58       | Long             | DBT              | CORP              | GB        |    359667 | PA      | $194258.85    | 0.10%             | 2026-03-08      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Wolf Midstream Canada LP                                                  | Wolf Midstream Canada LP                                                  | CUSIP: 977734AA0<br>LEI: 2549001Q852MSO20OC46 | Long             | DBT              | CORP              | CA        |    813000 | PA      | $605946.25    | 0.31%             | 2029-07-18      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| PeopleCert Wisdom Issuer plc                                              | PeopleCert Wisdom Issuer plc                                              | CUSIP: N/A<br>LEI: 213800PZ81RFLCN9GD51       | Long             | DBT              | CORP              | GB        |    150000 | PA      | $170029.46    | 0.09%             | 2026-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Peru LNG Srl                                                              | Peru LNG Srl                                                              | CUSIP: N/A<br>LEI: 254900F70J1LOALV5K70       | Long             | DBT              | CORP              | PE        |    537543 | PA      | $486081.91    | 0.25%             | 2030-03-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Engineering - Ingegneria Informatica - SpA                                | Engineering - Ingegneria Informatica - SpA                                | CUSIP: N/A<br>LEI: 81560042F5E23EE61346       | Long             | DBT              | CORP              | IT        |    461000 | PA      | $551254.50    | 0.28%             | 2028-05-15      | Fixed         | 11.12%                | No            |                  2 | On Loan: No      |
| Rossini Sarl                                                              | Rossini Sarl                                                              | CUSIP: N/A<br>LEI: 549300EC5JCCW6F83R11       | Long             | DBT              | CORP              | LU        |    401000 | PA      | $472652.73    | 0.24%             | 2029-12-31      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                                             | Organon & Co.                                                             | CUSIP: 68622TAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $145498.30    | 0.07%             | 2028-04-30      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| SierraCol Energy Andina LLC                                               | SierraCol Energy Andina LLC                                               | CUSIP: 82653LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $413919.63    | 0.21%             | 2028-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Flos B&b Italia SpA                                                       | Flos B&b Italia SpA                                                       | CUSIP: N/A<br>LEI: 815600907387ED411436       | Long             | DBT              | CORP              | IT        |    120000 | PA      | $142399.25    | 0.07%             | 2028-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MC Brazil Downstream Trading SARL                                         | MC Brazil Downstream Trading SARL                                         | CUSIP: 55292WAA8<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |    701532 | PA      | $542283.87    | 0.28%             | 2031-06-30      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Melco Resorts Finance Ltd.                                                | Melco Resorts Finance Ltd.                                                | CUSIP: N/A<br>LEI: 5493000FQDBWKDBZEF60       | Long             | DBT              | CORP              | KY        |    411000 | PA      | $370876.00    | 0.19%             | 2029-12-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SCC Power plc                                                             | SCC Power plc                                                             | CUSIP: 78397YAC6<br>LEI: 529900IYGYC6VSDSDF37 | Long             | DBT              | CORP              | GB        |    460939 | PA      | $110855.83    | 0.06%             | 2032-05-17      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Vivion Investments Sarl                                                   | Vivion Investments Sarl                                                   | CUSIP: N/A<br>LEI: 529900SJ7X71ESJK9N76       | Long             | DBT              | CORP              | LU        |    621885 | PA      | $677942.69    | 0.35%             | 2028-08-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Acu Petroleo Luxembourg SARL                                              | Acu Petroleo Luxembourg SARL                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | LU        |    419803 | PA      | $421093.82    | 0.22%             | 2032-01-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Mobico Group plc                                                          | Mobico Group plc                                                          | CUSIP: N/A<br>LEI: 213800A8IQEMY8PA5X34       | Long             | DBT              | CORP              | GB        |    389000 | PA      | $423020.21    | 0.22%             | 2031-09-26      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Biocon Biologics Global plc                                               | Biocon Biologics Global plc                                               | CUSIP: 090978AA5<br>LEI: 254900PMQN51VACG2D55 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $405687.42    | 0.21%             | 2029-10-09      | Fixed         | 6.67%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $716.79       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Synthos SA                                                                | Synthos SA                                                                | CUSIP: N/A<br>LEI: 259400WX4QZCOHJVWM18       | Long             | DBT              | CORP              | PL        |    483000 | PA      | $508265.19    | 0.26%             | 2028-06-07      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Summer BC Holdco A SARL                                                   | Summer BC Holdco A SARL                                                   | CUSIP: N/A<br>LEI: 984500EFA0BRE0008996       | Long             | DBT              | CORP              | LU        |    507293 | PA      | $572531.39    | 0.29%             | 2027-10-31      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Banco GNB Sudameris SA                                                    | Banco GNB Sudameris SA                                                    | CUSIP: N/A<br>LEI: 549300SO7QUETMQD9D84       | Long             | DBT              | CORP              | CO        |    755000 | PA      | $732556.57    | 0.38%             | 2031-04-16      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Telecommunications co Telekom Srbija AD Belgrade                          | Telecommunications co Telekom Srbija AD Belgrade                          | CUSIP: 87945BAA8<br>LEI: 254900OVY0XI1DFYC092 | Long             | DBT              | NUSS              | RS        |    697000 | PA      | $690961.19    | 0.36%             | 2029-10-28      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Amber Finco plc                                                           | Amber Finco plc                                                           | CUSIP: N/A<br>LEI: 9845004C0870D380O790       | Long             | DBT              | CORP              | GB        |    437000 | PA      | $516095.31    | 0.27%             | 2029-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Bubbles Bidco SpA                                                         | Bubbles Bidco SpA                                                         | CUSIP: N/A<br>LEI: 815600073942740CEB24       | Long             | DBT              | CORP              | IT        |    100000 | PA      | $113190.68    | 0.06%             | 2031-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Navoi Mining & Metallurgical Combinat                                     | Navoi Mining & Metallurgical Combinat                                     | CUSIP: 63890CAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |    731000 | PA      | $736364.81    | 0.38%             | 2031-10-17      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| Maxeda DIY Holding BV                                                     | Maxeda DIY Holding BV                                                     | CUSIP: N/A<br>LEI: 724500KEZU4CPEQLGZ87       | Long             | DBT              | CORP              | NL        |    572000 | PA      | $532518.35    | 0.27%             | 2026-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FS Luxembourg SARL                                                        | FS Luxembourg SARL                                                        | CUSIP: 30315XAC8<br>LEI: 222100EKR3JUJPGGOY81 | Long             | DBT              | CORP              | LU        |    429000 | PA      | $431268.12    | 0.22%             | 2031-02-12      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| B&M European Value Retail SA                                              | B&M European Value Retail SA                                              | CUSIP: N/A<br>LEI: 213800UK7ZRLY2K1X530       | Long             | DBT              | CORP              | LU        |    685000 | PA      | $954180.82    | 0.49%             | 2030-11-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| First Quantum Minerals Ltd.                                               | First Quantum Minerals Ltd.                                               | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    235000 | PA      | $232504.02    | 0.12%             | 2033-03-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Fedrigoni SpA                                                             | Fedrigoni SpA                                                             | CUSIP: N/A<br>LEI: 8156004CE82074779D19       | Long             | DBT              | CORP              | IT        |    400000 | PA      | $438979.38    | 0.23%             | 2031-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Banijay Entertainment SAS                                                 | Banijay Entertainment SAS                                                 | CUSIP: 060335AB2<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |    294000 | PA      | $301292.57    | 0.15%             | 2029-05-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Canpack SA                                                                | Canpack SA                                                                | CUSIP: 13806CAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    434000 | PA      | $397261.21    | 0.20%             | 2029-11-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Flora Food Management BV                                                  | Flora Food Management BV                                                  | CUSIP: N/A<br>LEI: 2549002VGA888UKFKS25       | Long             | DBT              | CORP              | NL        |    533000 | PA      | $622839.15    | 0.32%             | 2029-07-02      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PLT VII Finance Sarl                                                      | PLT VII Finance Sarl                                                      | CUSIP: N/A<br>LEI: 894500SKZV4JDP64R249       | Long             | DBT              | CORP              | LU        |    648000 | PA      | $752530.73    | 0.39%             | 2031-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-572.38      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Standard Industries, Inc.                                                 | Standard Industries, Inc.                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    430000 | PA      | $475055.50    | 0.24%             | 2026-11-21      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Pinnacle Bidco plc                                                        | Pinnacle Bidco plc                                                        | CUSIP: N/A<br>LEI: 2138006Z5V8OBL2A2Q06       | Long             | DBT              | CORP              | GB        |    460000 | PA      | $650388.52    | 0.33%             | 2028-10-11      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-15093.36    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Odido Group Holding BV                                                    | Odido Group Holding BV                                                    | CUSIP: N/A<br>LEI: 724500FOAL1MNGOJKP07       | Long             | DBT              | CORP              | NL        |    852000 | PA      | $957949.29    | 0.49%             | 2030-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                       | Petroleos Mexicanos                                                       | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    450000 | PA      | $400830.71    | 0.21%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| Bulgarian Energy Holding EAD                                              | Bulgarian Energy Holding EAD                                              | CUSIP: N/A<br>LEI: 635400E1RWKJXPSBCV07       | Long             | DBT              | NUSS              | BG        |    970000 | PA      | $1031922.77   | 0.53%             | 2028-07-22      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $9918.94      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Iliad Holding SASU                                                        | Iliad Holding SASU                                                        | CUSIP: N/A<br>LEI: 9695009PXA7OI9NXN582       | Long             | DBT              | CORP              | FR        |    151000 | PA      | $182402.33    | 0.09%             | 2031-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Waga Bondco Ltd.                                                          | Waga Bondco Ltd.                                                          | CUSIP: N/A<br>LEI: 254900PFB2C9WELUW795       | Long             | DBT              | CORP              | JE        |    300000 | PA      | $390634.36    | 0.20%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| PeopleCert Wisdom Issuer plc                                              | PeopleCert Wisdom Issuer plc                                              | CUSIP: N/A<br>LEI: 213800PZ81RFLCN9GD51       | Long             | DBT              | CORP              | GB        |    435000 | PA      | $493085.42    | 0.25%             | 2026-09-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                              | Trivium Packaging Finance BV                                              | CUSIP: 89686QAB2<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $197676.44    | 0.10%             | 2027-08-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| SCC Power plc                                                             | SCC Power plc                                                             | CUSIP: 78397YAB8<br>LEI: 529900IYGYC6VSDSDF37 | Long             | DBT              | CORP              | GB        |    850966 | PA      | $425483.00    | 0.22%             | 2028-12-31      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Wynn Macau Ltd.                                                           | Wynn Macau Ltd.                                                           | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    294000 | PA      | $280624.22    | 0.14%             | 2028-08-26      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                       | Petroleos Mexicanos                                                       | CUSIP: 71654QDP4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    460000 | PA      | $460725.56    | 0.24%             | 2033-02-07      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Allwyn International AS                                                   | Allwyn International AS                                                   | CUSIP: N/A<br>LEI: 3157001WZJ5O35EAL536       | Long             | DBT              | CORP              | CZ        |    565000 | PA      | $636859.95    | 0.33%             | 2027-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Hidrovias International Finance SARL                                      | Hidrovias International Finance SARL                                      | CUSIP: N/A<br>LEI: 222100RBWNBUZOTA9381       | Long             | DBT              | CORP              | LU        |    650000 | PA      | $581296.11    | 0.30%             | 2031-02-08      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                                        | Vodafone Group plc                                                        | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | DBT              | CORP              | GB        |    705000 | PA      | $746666.53    | 0.38%             | 2080-08-27      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Kosmos Energy Ltd.                                                        | Kosmos Energy Ltd.                                                        | CUSIP: N/A<br>LEI: 213800YDFJ3OT9B5P157       | Long             | DBT              | CORP              | US        |    372000 | PA      | $299880.51    | 0.15%             | 2031-10-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Terraform Global Operating LP                                             | Terraform Global Operating LP                                             | CUSIP: 88104UAC7<br>LEI: 549300LC7QMVR79H5O86 | Long             | DBT              | CORP              | US        |    304000 | PA      | $297224.42    | 0.15%             | 2026-03-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| ReNew Wind Energy AP2                                                     | ReNew Wind Energy AP2                                                     | CUSIP: 75973PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | IN        |    529000 | PA      | $490288.41    | 0.25%             | 2028-07-14      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Rossini Sarl                                                              | Rossini Sarl                                                              | CUSIP: N/A<br>LEI: 549300EC5JCCW6F83R11       | Long             | DBT              | CORP              | LU        |    100000 | PA      | $117868.51    | 0.06%             | 2029-12-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Almaviva-The Italian Innovation Co. SpA                                   | Almaviva-The Italian Innovation Co. SpA                                   | CUSIP: N/A<br>LEI: 815600A862DA4DD9E211       | Long             | DBT              | CORP              | IT        |    234000 | PA      | $270220.83    | 0.14%             | 2030-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Edge Finco plc                                                            | Edge Finco plc                                                            | CUSIP: N/A<br>LEI: 648835NI8LJE5190NT73       | Long             | DBT              | CORP              | GB        |    414000 | PA      | $559600.06    | 0.29%             | 2031-08-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Zegona Finance plc                                                        | Zegona Finance plc                                                        | CUSIP: N/A<br>LEI: 254900B3KC1SS7T2TE92       | Long             | DBT              | CORP              | GB        |    238000 | PA      | $284851.73    | 0.15%             | 2029-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Cia de Minas Buenaventura SAA                                             | Cia de Minas Buenaventura SAA                                             | CUSIP: 204448AB0<br>LEI: 529900WQB1ZU9KB6EL71 | Long             | DBT              | CORP              | PE        |    525000 | PA      | $521067.75    | 0.27%             | 2032-02-04      | Fixed         | 6.80%                 | Yes           |                  2 | On Loan: No      |
| Allwyn International A/S                                                  | Allwyn International A/S                                                  | CUSIP: N/A<br>LEI: 3157001WZJ5O35EAL536       | Long             | DBT              | CORP              | CZ        |    345000 | PA      | $388879.08    | 0.20%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Grifols SA                                                                | Grifols SA                                                                | CUSIP: N/A<br>LEI: 959800HSSNXWRKBK4N60       | Long             | DBT              | CORP              | ES        |    442000 | PA      | $469424.72    | 0.24%             | 2028-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-21989.14    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Edge Finco plc                                                            | Edge Finco plc                                                            | CUSIP: N/A<br>LEI: 648835NI8LJE5190NT73       | Long             | DBT              | CORP              | GB        |    100000 | PA      | $135169.10    | 0.07%             | 2031-08-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Zegona Finance plc                                                        | Zegona Finance plc                                                        | CUSIP: N/A<br>LEI: 254900B3KC1SS7T2TE92       | Long             | DBT              | CORP              | GB        |    125000 | PA      | $149607.00    | 0.08%             | 2029-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Heimstaden AB                                                             | Heimstaden AB                                                             | CUSIP: N/A<br>LEI: 549300WD2QBD89VBPV88       | Long             | DBT              | CORP              | SE        |    400000 | PA      | $427197.74    | 0.22%             | 2027-03-06      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AES Andes SA                                                              | AES Andes SA                                                              | CUSIP: 00111VAC1<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |    672000 | PA      | $684767.33    | 0.35%             | 2055-06-10      | Variable      | 8.15%                 | Yes           |                  2 | On Loan: No      |
| Termocandelaria Power SA                                                  | Termocandelaria Power SA                                                  | CUSIP: 88087AAA6<br>LEI: 549300YDORW43JL6G659 | Long             | DBT              | CORP              | ES        |    376000 | PA      | $374191.44    | 0.19%             | 2031-09-17      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Mong Duong Finance Holdings BV                                            | Mong Duong Finance Holdings BV                                            | CUSIP: 60935DAA3<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |    715942 | PA      | $687368.06    | 0.35%             | 2029-05-07      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Baffinland Iron Mines Corp.                                               | Baffinland Iron Mines Corp.                                               | CUSIP: 056623AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    140000 | PA      | $123018.92    | 0.06%             | 2026-07-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Flos B&b Italia SpA                                                       | Flos B&b Italia SpA                                                       | CUSIP: N/A<br>LEI: 815600907387ED411436       | Long             | DBT              | CORP              | IT        |    406400 | PA      | $482258.78    | 0.25%             | 2028-11-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-12345.15    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Bubbles Bidco SpA                                                         | Bubbles Bidco SpA                                                         | CUSIP: N/A<br>LEI: 815600073942740CEB24       | Long             | DBT              | CORP              | IT        |    450000 | PA      | $509358.03    | 0.26%             | 2031-09-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| SNF Group SACA                                                            | SNF Group SACA                                                            | CUSIP: N/A<br>LEI: 969500F7036FEDYPRV54       | Long             | DBT              | CORP              | FR        |    456000 | PA      | $491143.74    | 0.25%             | 2029-02-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Perrigo Finance Unlimited Co.                                             | Perrigo Finance Unlimited Co., Series USD                                 | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    220000 | PA      | $218381.66    | 0.11%             | 2032-09-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Trident Energy Finance plc                                                | Trident Energy Finance plc                                                | CUSIP: 89616MAB6<br>LEI: 9845004ECK3FYO64I382 | Long             | DBT              | CORP              | GB        |    448000 | PA      | $422791.18    | 0.22%             | 2029-11-30      | Fixed         | 12.50%                | Yes           |                  2 | On Loan: No      |
| Kaixo Bondco Telecom SA                                                   | Kaixo Bondco Telecom SA                                                   | CUSIP: N/A<br>LEI: 959800ULWB3MZHZ69055       | Long             | DBT              | CORP              | ES        |    100000 | PA      | $114366.87    | 0.06%             | 2029-09-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1043.05     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Verisure Midholding AB                                                    | Verisure Midholding AB                                                    | CUSIP: N/A<br>LEI: 549300496LYEZ55X1M49       | Long             | DBT              | CORP              | SE        |    915000 | PA      | $1041287.57   | 0.54%             | 2029-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Vmed O2 UK Financing I plc                                                | Vmed O2 UK Financing I plc                                                | CUSIP: N/A<br>LEI: 213800MRR46ECNGZ7L69       | Long             | DBT              | CORP              | GB        |    299000 | PA      | $366232.52    | 0.19%             | 2029-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Neopharmed Gentili SpA                                                    | Neopharmed Gentili SpA                                                    | CUSIP: N/A<br>LEI: 815600C8FD3DCB866E50       | Long             | DBT              | CORP              | IT        |    100000 | PA      | $116492.35    | 0.06%             | 2030-04-08      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Ephios Subco 3 SARL                                                       | Ephios Subco 3 SARL                                                       | CUSIP: N/A<br>LEI: 213800E4EG6VFUFVEH64       | Long             | DBT              | CORP              | LU        |    388000 | PA      | $463351.60    | 0.24%             | 2031-01-31      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Kaixo Bondco Telecom SA                                                   | Kaixo Bondco Telecom SA                                                   | CUSIP: N/A<br>LEI: 959800ULWB3MZHZ69055       | Long             | DBT              | CORP              | ES        |    835000 | PA      | $954963.38    | 0.49%             | 2029-09-30      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Project Grand UK plc                                                      | Project Grand UK plc                                                      | CUSIP: N/A<br>LEI: 984500555ED7B8666028       | Long             | DBT              | CORP              | GB        |    450000 | PA      | $534759.29    | 0.27%             | 2029-06-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Samarco Mineracao SA                                                      | Samarco Mineracao SA                                                      | CUSIP: N/A<br>LEI: 529900U8HKV15GJC4O60       | Long             | DBT              | CORP              | BR        |   1031095 | PA      | $970440.11    | 0.50%             | 2031-06-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Novelis Sheet Ingot GmbH                                                  | Novelis Sheet Ingot GmbH                                                  | CUSIP: N/A<br>LEI: 9845005E95899E77AY49       | Long             | DBT              | CORP              | DE        |    460000 | PA      | $494378.01    | 0.25%             | 2029-04-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| MFS High Yield Pooled Portfolio                                           | MFS High Yield Pooled Portfolio                                           | CUSIP: 552984668<br>LEI: 549300B758U8480GXX22 | Long             |  | RF                | US        |  15678436 | NS      | $128719960.27 | 66.16%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1061.48     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Millicom International Cellular SA                                        | Millicom International Cellular SA                                        | CUSIP: 600814AN7<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    617400 | PA      | $602243.32    | 0.31%             | 2028-01-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1313.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ziggo BV                                                                  | Ziggo BV                                                                  | CUSIP: N/A<br>LEI: 213800TQASLF9JXH5J59       | Long             | DBT              | CORP              | NL        |    200000 | PA      | $207101.07    | 0.11%             | 2030-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| AccorInvest Group SA                                                      | AccorInvest Group SA                                                      | CUSIP: N/A<br>LEI: 2221000MD2YP7WLTNC52       | Long             | DBT              | CORP              | LU        |    550000 | PA      | $648010.58    | 0.33%             | 2029-10-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Pachelbel Bidco SpA                                                       | Pachelbel Bidco SpA                                                       | CUSIP: N/A<br>LEI: 8156005DA07CDD50CC46       | Long             | DBT              | CORP              | IT        |    310000 | PA      | $370572.69    | 0.19%             | 2031-05-17      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Amber Finco plc                                                           | Amber Finco plc                                                           | CUSIP: N/A<br>LEI: 9845004C0870D380O790       | Long             | DBT              | CORP              | GB        |    250000 | PA      | $295249.03    | 0.15%             | 2029-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Laboratoire Eimer Selas                                                   | Laboratoire Eimer Selas                                                   | CUSIP: N/A<br>LEI: 969500DCZL54LLTFEM37       | Long             | DBT              | CORP              | FR        |    494000 | PA      | $506799.03    | 0.26%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Albion Financing 1 SARL                                                   | Albion Financing 1 SARL                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | LU        |    128000 | PA      | $145422.84    | 0.07%             | 2026-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Summer BidCo BV                                                           | Summer BidCo BV                                                           | CUSIP: N/A<br>LEI: 724500EOJYP21L3XM206       | Long             | DBT              | CORP              | NL        |    651128 | PA      | $760372.92    | 0.39%             | 2029-02-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                       | Petroleos Mexicanos                                                       | CUSIP: 71654QAZ5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   1385000 | PA      | $953892.02    | 0.49%             | 2041-06-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                       | Petroleos Mexicanos                                                       | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    445000 | PA      | $434792.41    | 0.22%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Azure Power Energy Ltd.                                                   | Azure Power Energy Ltd.                                                   | CUSIP: 05502VAA1<br>LEI: 54930051LQDFHGQMHF47 | Long             | DBT              | CORP              | MU        |    387093 | PA      | $363867.65    | 0.19%             | 2026-08-19      | Fixed         | 3.58%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

**Name of Applicant:** MFS Series Trust III

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer