# EDGAR Filing Document

**Accession Number:** 0000318874
**File Stem:** 0001410368-25-041612
**Filing Date:** 2025-12
**Character Count:** 60296
**Document Hash:** 7502641755a989e07457f9aacb8b2b8f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-041612.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0001410368-25-041612

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS SERIES TRUST VII
- **CENTRAL INDEX KEY:** 0000318874

**ORGANIZATION NAME:**
- **EIN:** 046452925
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03090
- **FILM NUMBER:** 251595614

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS WORLDWIDE GOVERNMENTS FUND
- **DATE OF NAME CHANGE:** 19930408

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS WORLDWIDE GOVERNMENTS TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MASSACHUSETTS FINANCIAL INTERNATIONAL TRUST BOND PORTFOLIO
- **DATE OF NAME CHANGE:** 19910225

## Series and Classes Contracts Data

### MFS Equity Income Fund (Series ID: S000038342)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000118291 | A            | EQNAX           |
| C000118292 | B            | EQNBX           |
| C000118293 | C            | EQNCX           |
| C000118294 | I            | EQNIX           |
| C000118295 | R1           | EQNRX           |
| C000118296 | R2           | EQNSX           |
| C000118297 | R3           | EQNTX           |
| C000118298 | R4           | EQNUX           |
| C000118299 | R6           | EQNVX           |

## Nport-Ex

EQI-Q1

![](imgd43099b21.gif)

**Quarterly Report**

October 31, 2025

MFS<sup>®</sup> Equity Income Fund

![](imge3855fb72.gif)

------

**Portfolio of Investments**

10/31/25 (unaudited)

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

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

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – 96.3%  | Common Stocks – 96.3%  | Common Stocks – 96.3%  |
| Aerospace & Defense – 1.7% | Aerospace & Defense – 1.7% |  |
| General Electric Co. | 22346 | &nbsp;&nbsp;&nbsp; $6903796 |
| Leidos Holdings, Inc. | 24693 | &nbsp;&nbsp;&nbsp; 4703276 |
|  |  | &nbsp;&nbsp;&nbsp; $11607072 |
| Alcoholic Beverages – 0.7% | Alcoholic Beverages – 0.7% |  |
| Ambev S.A., ADR  | 1971310 | &nbsp;&nbsp;&nbsp; $4553726 |
| Biotechnology – 0.9% | Biotechnology – 0.9% |  |
| Gilead Sciences, Inc.  | 50466 | &nbsp;&nbsp;&nbsp; $6045322 |
| Broadcasting – 1.1% | Broadcasting – 1.1% |  |
| Omnicom Group, Inc.  | 100548 | &nbsp;&nbsp;&nbsp; $7543111 |
| Brokerage & Asset Managers – 1.9% | Brokerage & Asset Managers – 1.9% |  |
| Citigroup, Inc.  | 123981 | &nbsp;&nbsp;&nbsp; $12550597 |
| Business Services – 0.4% | Business Services – 0.4% |  |
| Cognizant Technology Solutions Corp., "A" | 38810 | &nbsp;&nbsp;&nbsp; $2828473 |
| Chemicals – 0.3% | Chemicals – 0.3% |  |
| Eastman Chemical Co.  | 37678 | &nbsp;&nbsp;&nbsp; $2242595 |
| Computer Software – 2.9% | Computer Software – 2.9% |  |
| Check Point Software Technologies Ltd. (a) | 18130 | &nbsp;&nbsp;&nbsp; $3547678 |
| Microsoft Corp. | 25640 | &nbsp;&nbsp;&nbsp; 13276649 |
| Salesforce, Inc. | 10578 | &nbsp;&nbsp;&nbsp; 2754617 |
|  |  | &nbsp;&nbsp;&nbsp; $19578944 |
| Computer Software - Systems – 0.9% | Computer Software - Systems – 0.9% |  |
| Arista Networks, Inc. (a)  | 36860 | &nbsp;&nbsp;&nbsp; $5812453 |
| Construction – 2.4% | Construction – 2.4% |  |
| Masco Corp. | 149063 | &nbsp;&nbsp;&nbsp; $9653320 |
| Stanley Black & Decker, Inc. | 94502 | &nbsp;&nbsp;&nbsp; 6399675 |
|  |  | &nbsp;&nbsp;&nbsp; $16052995 |
| Consumer Products – 1.9% | Consumer Products – 1.9% |  |
| Colgate-Palmolive Co. | 52956 | &nbsp;&nbsp;&nbsp; $4080260 |
| Kimberly-Clark Corp. | 71808 | &nbsp;&nbsp;&nbsp; 8596135 |
|  |  | &nbsp;&nbsp;&nbsp; $12676395 |
| Electrical Equipment – 1.1% | Electrical Equipment – 1.1% |  |
| Eaton Corp. PLC  | 20248 | &nbsp;&nbsp;&nbsp; $7725827 |
| Electronics – 4.5% | Electronics – 4.5% |  |
| Broadcom, Inc. | 16800 | &nbsp;&nbsp;&nbsp; $6209784 |
| KLA Corp. | 2330 | &nbsp;&nbsp;&nbsp; 2816364 |
| Lam Research Corp. | 79292 | &nbsp;&nbsp;&nbsp; 12485318 |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 30865 | &nbsp;&nbsp;&nbsp; 9272772 |
|  |  | &nbsp;&nbsp;&nbsp; $30784238 |
| Energy - Independent – 2.7% | Energy - Independent – 2.7% |  |
| ConocoPhillips | 36553 | &nbsp;&nbsp;&nbsp; $3248099 |
| EOG Resources, Inc. | 37523 | &nbsp;&nbsp;&nbsp; 3971434 |
| Phillips 66 | 67090 | &nbsp;&nbsp;&nbsp; 9133633 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued  | Common Stocks – continued  | Common Stocks – continued  |
| Energy - Independent – continued | Energy - Independent – continued |  |
| Valero Energy Corp. | 11910 | &nbsp;&nbsp;&nbsp; $2019460 |
|  |  | &nbsp;&nbsp;&nbsp; $18372626 |
| Energy - Integrated – 3.1% | Energy - Integrated – 3.1% |  |
| Chevron Corp. | 13490 | &nbsp;&nbsp;&nbsp; $2127643 |
| Eni S.p.A. | 326447 | &nbsp;&nbsp;&nbsp; 5999395 |
| Exxon Mobil Corp. | 25512 | &nbsp;&nbsp;&nbsp; 2917552 |
| National Gas Fuel Co. | 54879 | &nbsp;&nbsp;&nbsp; 4330502 |
| Petroleo Brasileiro S.A., ADR | 165730 | &nbsp;&nbsp;&nbsp; 1929097 |
| TotalEnergies SE | 57555 | &nbsp;&nbsp;&nbsp; 3579085 |
|  |  | &nbsp;&nbsp;&nbsp; $20883274 |
| Engineering - Construction – 0.5% | Engineering - Construction – 0.5% |  |
| Jacobs Solutions, Inc.  | 22730 | &nbsp;&nbsp;&nbsp; $3541561 |
| Food & Beverages – 1.1% | Food & Beverages – 1.1% |  |
| General Mills, Inc. | 72710 | &nbsp;&nbsp;&nbsp; $3389013 |
| PepsiCo, Inc. | 26174 | &nbsp;&nbsp;&nbsp; 3823760 |
|  |  | &nbsp;&nbsp;&nbsp; $7212773 |
| Forest & Paper Products – 0.5% | Forest & Paper Products – 0.5% |  |
| International Paper Co.  | 86880 | &nbsp;&nbsp;&nbsp; $3357043 |
| Health Maintenance Organizations – 2.3% | Health Maintenance Organizations – 2.3% |  |
| Cigna Group | 41588 | &nbsp;&nbsp;&nbsp; $10164523 |
| Humana, Inc. | 18820 | &nbsp;&nbsp;&nbsp; 5235536 |
|  |  | &nbsp;&nbsp;&nbsp; $15400059 |
| Insurance – 8.7% | Insurance – 8.7% |  |
| Ameriprise Financial, Inc. | 22572 | &nbsp;&nbsp;&nbsp; $10219925 |
| Corebridge Financial, Inc. | 310281 | &nbsp;&nbsp;&nbsp; 10102749 |
| Equitable Holdings, Inc. | 241700 | &nbsp;&nbsp;&nbsp; 11939980 |
| Hartford Insurance Group, Inc. | 24462 | &nbsp;&nbsp;&nbsp; 3037691 |
| Lincoln National Corp. | 204700 | &nbsp;&nbsp;&nbsp; 8597400 |
| Manulife Financial Corp. | 157782 | &nbsp;&nbsp;&nbsp; 5106217 |
| Voya Financial, Inc. | 137200 | &nbsp;&nbsp;&nbsp; 10215912 |
|  |  | &nbsp;&nbsp;&nbsp; $59219874 |
| Interactive Media Services – 2.8% | Interactive Media Services – 2.8% |  |
| Alphabet, Inc., "A" | 42662 | &nbsp;&nbsp;&nbsp; $11996128 |
| Meta Platforms, Inc., "A" | 11170 | &nbsp;&nbsp;&nbsp; 7242069 |
|  |  | &nbsp;&nbsp;&nbsp; $19238197 |
| Machinery & Tools – 5.5% | Machinery & Tools – 5.5% |  |
| AGCO Corp. | 105734 | &nbsp;&nbsp;&nbsp; $10907520 |
| Caterpillar, Inc. | 11790 | &nbsp;&nbsp;&nbsp; 6805895 |
| Finning International, Inc. | 185861 | &nbsp;&nbsp;&nbsp; 10051376 |
| Trane Technologies PLC | 21976 | &nbsp;&nbsp;&nbsp; 9859532 |
|  |  | &nbsp;&nbsp;&nbsp; $37624323 |
| Major Banks – 6.3% | Major Banks – 6.3% |  |
| Bank of America Corp. | 230776 | &nbsp;&nbsp;&nbsp; $12334977 |
| BNP Paribas S.A. | 69030 | &nbsp;&nbsp;&nbsp; 5335792 |
| JPMorgan Chase & Co. | 22283 | &nbsp;&nbsp;&nbsp; 6932687 |
| PNC Financial Services Group, Inc. | 21560 | &nbsp;&nbsp;&nbsp; 3935778 |
| Wells Fargo & Co. | 166257 | &nbsp;&nbsp;&nbsp; 14459372 |
|  |  | &nbsp;&nbsp;&nbsp; $42998606 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued  | Common Stocks – continued  | Common Stocks – continued  |
| Medical & Health Technology & Services – 1.6% | Medical & Health Technology & Services – 1.6% |  |
| McKesson Corp.  | 13143 | &nbsp;&nbsp;&nbsp; $10663442 |
| Medical Equipment – 1.5% | Medical Equipment – 1.5% |  |
| Medtronic PLC  | 112401 | &nbsp;&nbsp;&nbsp; $10194771 |
| Metals & Mining – 1.4% | Metals & Mining – 1.4% |  |
| Rio Tinto PLC  | 134471 | &nbsp;&nbsp;&nbsp; $9691266 |
| Natural Gas - Distribution – 0.5% | Natural Gas - Distribution – 0.5% |  |
| UGI Corp.  | 92550 | &nbsp;&nbsp;&nbsp; $3093946 |
| Natural Gas - Pipeline – 1.0% | Natural Gas - Pipeline – 1.0% |  |
| Enbridge, Inc.  | 148845 | &nbsp;&nbsp;&nbsp; $6940546 |
| Network & Telecom – 1.3% | Network & Telecom – 1.3% |  |
| Qualcomm, Inc.  | 47492 | &nbsp;&nbsp;&nbsp; $8591303 |
| Oil Services – 1.7% | Oil Services – 1.7% |  |
| TechnipFMC PLC  | 283736 | &nbsp;&nbsp;&nbsp; $11732484 |
| Other Banks & Diversified Financials – 8.1% | Other Banks & Diversified Financials – 8.1% |  |
| American Express Co. | 31652 | &nbsp;&nbsp;&nbsp; $11417826 |
| Columbia Banking System, Inc. | 137280 | &nbsp;&nbsp;&nbsp; 3679104 |
| Mastercard, Inc., "A" | 7710 | &nbsp;&nbsp;&nbsp; 4255843 |
| Northern Trust Corp. | 103408 | &nbsp;&nbsp;&nbsp; 13305507 |
| Popular, Inc. | 119337 | &nbsp;&nbsp;&nbsp; 13302496 |
| Synchrony Financial | 124090 | &nbsp;&nbsp;&nbsp; 9229814 |
|  |  | &nbsp;&nbsp;&nbsp; $55190590 |
| Pharmaceuticals – 6.2% | Pharmaceuticals – 6.2% |  |
| AbbVie, Inc. | 62706 | &nbsp;&nbsp;&nbsp; $13672416 |
| Johnson & Johnson | 51701 | &nbsp;&nbsp;&nbsp; 9764768 |
| Organon & Co. | 348114 | &nbsp;&nbsp;&nbsp; 2349769 |
| Pfizer, Inc. | 507785 | &nbsp;&nbsp;&nbsp; 12516900 |
| Sanofi S.A. | 38785 | &nbsp;&nbsp;&nbsp; 3916205 |
|  |  | &nbsp;&nbsp;&nbsp; $42220058 |
| Printing & Publishing – 0.8% | Printing & Publishing – 0.8% |  |
| Transcontinental, Inc., "A" | 368810 | &nbsp;&nbsp;&nbsp; $5177619 |
| Railroad & Shipping – 1.0% | Railroad & Shipping – 1.0% |  |
| CSX Corp. | 125760 | &nbsp;&nbsp;&nbsp; $4529875 |
| Union Pacific Corp. | 10816 | &nbsp;&nbsp;&nbsp; 2383522 |
|  |  | &nbsp;&nbsp;&nbsp; $6913397 |
| Real Estate – 2.2% | Real Estate – 2.2% |  |
| Essential Properties Realty Trust, REIT | 175136 | &nbsp;&nbsp;&nbsp; $5233064 |
| W.P. Carey, Inc., REIT | 143521 | &nbsp;&nbsp;&nbsp; 9472386 |
|  |  | &nbsp;&nbsp;&nbsp; $14705450 |
| Real Estate - Office – 1.9% | Real Estate - Office – 1.9% |  |
| Cousins Properties, Inc., REIT | 266220 | &nbsp;&nbsp;&nbsp; $6903085 |
| Highwoods Properties, Inc., REIT | 218726 | &nbsp;&nbsp;&nbsp; 6262125 |
|  |  | &nbsp;&nbsp;&nbsp; $13165210 |
| Restaurants – 1.1% | Restaurants – 1.1% |  |
| Aramark  | 197459 | &nbsp;&nbsp;&nbsp; $7479747 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued  | Common Stocks – continued  | Common Stocks – continued  |
| Specialty Stores – 5.5% | Specialty Stores – 5.5% |  |
| Amazon.com, Inc. (a) | 51421 | &nbsp;&nbsp;&nbsp; $12558037 |
| Home Depot, Inc. | 29609 | &nbsp;&nbsp;&nbsp; 11239280 |
| Tapestry, Inc. | 55890 | &nbsp;&nbsp;&nbsp; 6137840 |
| Target Corp. | 40321 | &nbsp;&nbsp;&nbsp; 3738563 |
| TJX Cos., Inc. | 25320 | &nbsp;&nbsp;&nbsp; 3548345 |
|  |  | &nbsp;&nbsp;&nbsp; $37222065 |
| Tobacco – 2.4% | Tobacco – 2.4% |  |
| Altria Group, Inc. | 83190 | &nbsp;&nbsp;&nbsp; $4690252 |
| British American Tobacco PLC | 159795 | &nbsp;&nbsp;&nbsp; 8195380 |
| Philip Morris International, Inc. | 25877 | &nbsp;&nbsp;&nbsp; 3734827 |
|  |  | &nbsp;&nbsp;&nbsp; $16620459 |
| Utilities - Electric Power – 3.9% | Utilities - Electric Power – 3.9% |  |
| Duke Energy Corp. | 35223 | &nbsp;&nbsp;&nbsp; $4378219 |
| Edison International | 58753 | &nbsp;&nbsp;&nbsp; 3253741 |
| NextEra Energy, Inc. | 54416 | &nbsp;&nbsp;&nbsp; 4429462 |
| Portland General Electric Co. | 310770 | &nbsp;&nbsp;&nbsp; 14195974 |
|  |  | &nbsp;&nbsp;&nbsp; $26257396 |
| **Total Common Stocks**  |  | &nbsp;&nbsp; **$653709833** |
| Convertible Preferred Stocks – 2.7%  | Convertible Preferred Stocks – 2.7%  | Convertible Preferred Stocks – 2.7%  |
| Aerospace & Defense – 0.6% | Aerospace & Defense – 0.6% |  |
| Boeing Co., 6%, 10/15/2027  | 59884 | &nbsp;&nbsp;&nbsp; $3875693 |
| Utilities - Electric Power – 2.1% | Utilities - Electric Power – 2.1% |  |
| NextEra Energy, Inc., 7.234%, 11/01/2027  | 181893 | &nbsp;&nbsp;&nbsp; $8896386 |
| PG&E Corp., 6%, 12/01/2027  | 137957 | &nbsp;&nbsp;&nbsp; 5670033 |
|  |  | &nbsp;&nbsp;&nbsp; $14566419 |
| **Total Convertible Preferred Stocks**  | **Total Convertible Preferred Stocks**  | &nbsp;&nbsp; **$18442112** |
| Preferred Stocks – 0.3%  | Preferred Stocks – 0.3%  | Preferred Stocks – 0.3%  |
| Metals & Mining – 0.3% |  |  |
| Gerdau S.A.  | 586716 | &nbsp;&nbsp;&nbsp; $2065521 |
| Convertible Bonds – 0.3% | Convertible Bonds – 0.3% | Convertible Bonds – 0.3% |
| Utilities - Electric Power – 0.3% | Utilities - Electric Power – 0.3% |  |
| PG&E Corp., 4.25%, 12/01/2027  | $1678000 | &nbsp;&nbsp;&nbsp; $1722299 |
| Mutual Funds (h) – 0.2%  | Mutual Funds (h) – 0.2%  | Mutual Funds (h) – 0.2%  |
| Money Market Funds – 0.2% | Money Market Funds – 0.2% |  |
| MFS Institutional Money Market Portfolio, 4.12% (v)  | 1595472 | &nbsp;&nbsp;&nbsp; $1595791 |
| Other Assets, Less Liabilities – 0.2% |  | &nbsp;&nbsp;&nbsp; 1541971 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$679077527** |

---

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $1,595,791 and $675,939,765, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

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

------

*Portfolio of Investments (unaudited) – continued*

The following abbreviations are used in this report and are defined: <br> ADR American Depositary Receipt <br> REIT Real Estate Investment Trust

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

------

**Supplemental Information**

10/31/25 (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**

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. 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. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund's net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund's foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned

to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of October 31, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities | &nbsp;&nbsp;&nbsp; $674217466 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $674217466 |
| U.S. Corporate Bonds | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1722299 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1722299 |
| Investment Companies | &nbsp;&nbsp;&nbsp; 1595791 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1595791 |
| Total | &nbsp;&nbsp;&nbsp; $675813257 | &nbsp;&nbsp;&nbsp; $1722299 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $677535556 |

---

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

------

*Supplemental Information (unaudited) – continued*

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

**(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 October 31, 2025:

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $2641415 | &nbsp;&nbsp; $15831438 | &nbsp;&nbsp; $16877510 | &nbsp;&nbsp; $294 | &nbsp;&nbsp; $154 | &nbsp;&nbsp; $1595791<br>|

---

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

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $29737 | &nbsp;&nbsp; $— |

---

------

## 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 VII

- **b. Investment Company Act file number:** 811-03090

- **c. CIK number of Registrant:** 0000318874

- **d. LEI of Registrant:** TH94BZR3W0ANP6ZLMJ19

- **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 Equity Income Fund

- **b. EDGAR series identifier (if any):** S000038342

- **c. LEI of Series:** 5493004Z636OYQ7HNR48

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $679131312.63

**Total Liabilities:** $293594.04

**Net Assets:** $678837718.59

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000118291 | 3.32%                | 1.94%                | -0.30%               |
| Class ID C000118292 | 3.23%                | 1.88%                | -0.34%               |
| Class ID C000118293 | 3.27%                | 1.87%                | -0.34%               |
| Class ID C000118294 | 3.36%                | 1.95%                | -0.25%               |
| Class ID C000118295 | 3.27%                | 1.87%                | -0.34%               |
| Class ID C000118296 | 3.31%                | 1.92%                | -0.29%               |
| Class ID C000118297 | 3.31%                | 1.93%                | -0.30%               |
| Class ID C000118298 | 3.32%                | 2.00%                | -0.30%               |
| Class ID C000118299 | 3.38%                | 1.96%                | -0.25%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $10803165.81             | $9545841.15                                |
| Month 2  | $-1922.19                | $11577175.82                               |
| Month 3  | $7627246.59              | $-10025939.42                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| AGCO Corp                                 | AGCO Corp                                 | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |    105734 | NS      | $10907519.44  | 1.61%             |  |  |  | No            | 1                  | On Loan: No      |
| AbbVie Inc                                | AbbVie Inc                                | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     62706 | NS      | $13672416.24  | 2.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc                              | Alphabet Inc                              | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     42662 | NS      | $11996127.78  | 1.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Altria Group Inc                          | Altria Group Inc                          | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     83190 | NS      | $4690252.20   | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Amazon.com Inc                            | Amazon.com Inc                            | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     51421 | NS      | $12558036.62  | 1.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Ambev SA                                  | Ambev SA                                  | CUSIP: 02319V103<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               | CORP              | BR        |   1971310 | NS      | $4553726.10   | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| American Express Co                       | American Express Co                       | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     31652 | NS      | $11417825.96  | 1.68%             |  |  |  | No            | 1                  | On Loan: No      |
| British American Tobacco PLC              | British American Tobacco PLC              | CUSIP: 000000000<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |    159795 | NS      | $8195379.72   | 1.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Ameriprise Financial Inc                  | Ameriprise Financial Inc                  | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |     22572 | NS      | $10219924.44  | 1.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Aramark                                   | Aramark                                   | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |    197459 | NS      | $7479746.92   | 1.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Arista Networks Inc                       | Arista Networks Inc                       | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     36860 | NS      | $5812453.40   | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America Corp                      | Bank of America Corp                      | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    230776 | NS      | $12334977.20  | 1.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Rio Tinto PLC                             | Rio Tinto PLC                             | CUSIP: 000000000<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |    134471 | NS      | $9691266.21   | 1.43%             |  |  |  | No            | 1                  | On Loan: No      |
| BOEING CO/THE                             | Boeing Co/The                             | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |     59884 | NS      | $3875692.48   | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadcom Inc                              | Broadcom Inc                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     16800 | NS      | $6209784.00   | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Cigna Group/The                           | Cigna Group/The                           | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     41588 | NS      | $10164523.08  | 1.50%             |  |  |  | No            | 1                  | On Loan: No      |
| CSX Corp                                  | CSX Corp                                  | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |    125760 | NS      | $4529875.20   | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Caterpillar Inc                           | Caterpillar Inc                           | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     11790 | NS      | $6805895.40   | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chevron Corp                              | Chevron Corp                              | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13490 | NS      | $2127642.80   | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Inc                             | Citigroup Inc                             | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |    123981 | NS      | $12550596.63  | 1.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Cognizant Technology Solutions Corp       | Cognizant Technology Solutions Corp       | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     38810 | NS      | $2828472.80   | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Colgate-Palmolive Co                      | Colgate-Palmolive Co                      | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     52956 | NS      | $4080259.80   | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Columbia Banking System Inc               | Columbia Banking System Inc               | CUSIP: 197236102<br>LEI: 254900CTRJTQZ3BJ2V17 | Long             | EC               | CORP              | US        |    137280 | NS      | $3679104.00   | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| ConocoPhillips                            | ConocoPhillips                            | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     36553 | NS      | $3248099.58   | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Corebridge Financial Inc                  | Corebridge Financial Inc                  | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |    310281 | NS      | $10102749.36  | 1.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Cousins Properties Inc                    | Cousins Properties Inc                    | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |    266220 | NS      | $6903084.60   | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Duke Energy Corp                          | Duke Energy Corp                          | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     35223 | NS      | $4378218.90   | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Gerdau SA                                 | Gerdau SA                                 | CUSIP: 000000000<br>LEI: 254900YDV6SEQQPZVG24 | Long             | EP               | CORP              | BR        |    586716 | NS      | $2065521.25   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| EOG Resources Inc                         | EOG Resources Inc                         | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     37523 | NS      | $3971434.32   | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Eastman Chemical Co                       | Eastman Chemical Co                       | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |     37678 | NS      | $2242594.56   | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Edison International                      | Edison International                      | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |     58753 | NS      | $3253741.14   | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Enbridge Inc                              | Enbridge Inc                              | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |    148845 | NS      | $6940546.15   | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Equitable Holdings Inc                    | Equitable Holdings Inc                    | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |    241700 | NS      | $11939980.00  | 1.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Essential Properties Realty Trust Inc     | Essential Properties Realty Trust Inc     | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |    175136 | NS      | $5233063.68   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Exxon Mobil Corp                          | Exxon Mobil Corp                          | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     25512 | NS      | $2917552.32   | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Meta Platforms Inc                        | Meta Platforms Inc                        | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     11170 | NS      | $7242069.50   | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Finning International Inc                 | Finning International Inc                 | CUSIP: 318071404<br>LEI: 549300QLDCP11KB6XW55 | Long             | EC               | CORP              | CA        |    185861 | NS      | $10051375.60  | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |
| General Electric Co                       | General Electric Co                       | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     22346 | NS      | $6903796.70   | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| General Mills Inc                         | General Mills Inc                         | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     72710 | NS      | $3389013.10   | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Gilead Sciences Inc                       | Gilead Sciences Inc                       | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     50466 | NS      | $6045322.14   | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Hartford Insurance Group Inc/The          | Hartford Insurance Group Inc/The          | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     24462 | NS      | $3037691.16   | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Highwoods Properties Inc                  | Highwoods Properties Inc                  | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |    218726 | NS      | $6262125.38   | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Home Depot Inc/The                        | Home Depot Inc/The                        | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     29609 | NS      | $11239280.31  | 1.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Humana Inc                                | Humana Inc                                | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     18820 | NS      | $5235535.80   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| International Paper Co                    | International Paper Co                    | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |     86880 | NS      | $3357043.20   | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase & Co                       | JPMorgan Chase & Co                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     22283 | NS      | $6932686.96   | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Jacobs Solutions Inc                      | Jacobs Solutions Inc                      | CUSIP: 46982L108<br>LEI: 254900E3KHXCC2C8K272 | Long             | EC               | CORP              | US        |     22730 | NS      | $3541561.30   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Johnson & Johnson                         | Johnson & Johnson                         | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     51701 | NS      | $9764767.87   | 1.44%             |  |  |  | No            | 1                  | On Loan: No      |
| KLA Corp                                  | KLA Corp                                  | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      2330 | NS      | $2816364.20   | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Kimberly-Clark Corp                       | Kimberly-Clark Corp                       | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |     71808 | NS      | $8596135.68   | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Lam Research Corp                         | Lam Research Corp                         | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     79292 | NS      | $12485318.32  | 1.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Leidos Holdings Inc                       | Leidos Holdings Inc                       | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     24693 | NS      | $4703275.71   | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Lincoln National Corp                     | Lincoln National Corp                     | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |    204700 | NS      | $8597400.00   | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| MFS Institutional Money Market Portfolio  | MFS Institutional Money Market Portfolio  | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | EC               | RF                | US        |   1587925 | NS      | $1588242.50   | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Manulife Financial Corp                   | Manulife Financial Corp                   | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |    157782 | NS      | $5106217.23   | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Sanofi SA                                 | Sanofi SA                                 | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     38785 | NS      | $3916204.65   | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Masco Corp                                | Masco Corp                                | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |    149063 | NS      | $9653319.88   | 1.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Mastercard Inc                            | Mastercard Inc                            | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      7710 | NS      | $4255842.90   | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| McKesson Corp                             | McKesson Corp                             | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     13143 | NS      | $10663441.62  | 1.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Microsoft Corp                            | Microsoft Corp                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     25640 | NS      | $13276648.40  | 1.96%             |  |  |  | No            | 1                  | On Loan: No      |
| National Fuel Gas Co                      | National Fuel Gas Co                      | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     54879 | NS      | $4330501.89   | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| NextEra Energy Inc                        | NextEra Energy Inc                        | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     54416 | NS      | $4429462.40   | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| NEXTERA ENERGY INC                        | NextEra Energy Inc                        | CUSIP: 65339F119<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |    181893 | NS      | $8896386.63   | 1.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Northern Trust Corp                       | Northern Trust Corp                       | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |    103408 | NS      | $13305507.36  | 1.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Omnicom Group Inc                         | Omnicom Group Inc                         | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |    100548 | NS      | $7543110.96   | 1.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Organon & Co                              | Organon & Co                              | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |    348114 | NS      | $2349769.50   | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| PG&E CORP                                 | PG&E Corp                                 | CUSIP: 69331C306<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EP               | CORP              | US        |    137957 | NS      | $5670032.70   | 0.84%             |  |  |  | No            | 1                  | On Loan: No      |
| PG&E CORP                                 | PG&E Corp                                 | CUSIP: 69331CAL2<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   1678000 | PA      | $1722299.20   | 0.25%             | 2027-12-01      | Fixed         | 4.25%                 | No            | 2                  | On Loan: No      |
| PNC Financial Services Group Inc/The      | PNC Financial Services Group Inc/The      | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     21560 | NS      | $3935778.00   | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| PepsiCo Inc                               | PepsiCo Inc                               | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     26174 | NS      | $3823759.66   | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Eni SpA                                   | Eni SpA                                   | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |    326447 | NS      | $5999394.82   | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Petroleo Brasileiro SA - Petrobras        | Petroleo Brasileiro SA - Petrobras        | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |    165730 | NS      | $1929097.20   | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Pfizer Inc                                | Pfizer Inc                                | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    507785 | NS      | $12516900.25  | 1.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Philip Morris International Inc           | Philip Morris International Inc           | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     25877 | NS      | $3734827.41   | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Phillips 66                               | Phillips 66                               | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     67090 | NS      | $9133632.60   | 1.35%             |  |  |  | No            | 1                  | On Loan: No      |
| BNP Paribas SA                            | BNP Paribas SA                            | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |     69030 | NS      | $5335792.09   | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Popular Inc                               | Popular Inc                               | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |    119337 | NS      | $13302495.39  | 1.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Portland General Electric Co              | Portland General Electric Co              | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |    310770 | NS      | $14195973.60  | 2.09%             |  |  |  | No            | 1                  | On Loan: No      |
| QUALCOMM Inc                              | QUALCOMM Inc                              | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     47492 | NS      | $8591302.80   | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Salesforce Inc                            | Salesforce Inc                            | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     10578 | NS      | $2754616.98   | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Stanley Black & Decker Inc                | Stanley Black & Decker Inc                | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |     94502 | NS      | $6399675.44   | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| Synchrony Financial                       | Synchrony Financial                       | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |    124090 | NS      | $9229814.20   | 1.36%             |  |  |  | No            | 1                  | On Loan: No      |
| TJX Cos Inc/The                           | TJX Cos Inc/The                           | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     25320 | NS      | $3548344.80   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     30865 | NS      | $9272771.95   | 1.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Tapestry Inc                              | Tapestry Inc                              | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     55890 | NS      | $6137839.80   | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Target Corp                               | Target Corp                               | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     40321 | NS      | $3738563.12   | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Transcontinental Inc                      | Transcontinental Inc                      | CUSIP: 893578104<br>LEI: 549300C86G4JLR01YF53 | Long             | EC               | CORP              | CA        |    368810 | NS      | $5177618.55   | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| UGI Corp                                  | UGI Corp                                  | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     92550 | NS      | $3093946.50   | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Union Pacific Corp                        | Union Pacific Corp                        | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     10816 | NS      | $2383521.92   | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Valero Energy Corp                        | Valero Energy Corp                        | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     11910 | NS      | $2019459.60   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Voya Financial Inc                        | Voya Financial Inc                        | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |    137200 | NS      | $10215912.00  | 1.50%             |  |  |  | No            | 1                  | On Loan: No      |
| WP Carey Inc                              | WP Carey Inc                              | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |    143521 | NS      | $9472386.00   | 1.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Wells Fargo & Co                          | Wells Fargo & Co                          | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    166257 | NS      | $14459371.29  | 2.13%             |  |  |  | No            | 1                  | On Loan: No      |
| TotalEnergies SE                          | TotalEnergies SE                          | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     57555 | NS      | $3579084.76   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| EURO CURRENCY                             | EURO CURRENCY                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | N/A       |     97923 | NS      | $112871.15    | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Eaton Corp PLC                            | Eaton Corp PLC                            | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     20248 | NS      | $7725826.88   | 1.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Medtronic PLC                             | Medtronic PLC                             | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    112401 | NS      | $10194770.70  | 1.50%             |  |  |  | No            | 1                  | On Loan: No      |
| TechnipFMC PLC                            | TechnipFMC PLC                            | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |    283736 | NS      | $11732483.60  | 1.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Trane Technologies PLC                    | Trane Technologies PLC                    | CUSIP: 000000000<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |     21976 | NS      | $9859532.40   | 1.45%             |  |  |  | No            | 1                  | On Loan: No      |
| SOUTH KOREAN WON                          | SOUTH KOREAN WON                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  |  | KR        |       468 | NS      | $0.33         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Check Point Software Technologies Ltd     | Check Point Software Technologies Ltd     | CUSIP: 000000000<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |     18130 | NS      | $3547678.40   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-12-03

**Name of Applicant:** MFS SERIES TRUST VII

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer