# EDGAR Filing Document

**Accession Number:** 0001065698
**File Stem:** 0001752724-25-200810
**Filing Date:** 2025-8
**Character Count:** 45940
**Document Hash:** f9efbaa30e4f64c32da3a2ddb2393bbf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-200810.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001752724-25-200810

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08879
- **FILM NUMBER:** 251248112

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

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

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

## Series and Classes Contracts Data

### MFS New Discovery Value Portfolio (Series ID: S000023374)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000068446 | Initial Class |  |
| C000068447 | Service Class |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

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

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

- **a. Name of Series:** MFS New Discovery Value Portfolio

- **b. EDGAR series identifier (if any):** S000023374

- **c. LEI of Series:** 549300X8U0YDKOFKNA72

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $46449397.93

**Total Liabilities:** $148132.51

**Net Assets:** $46301265.42

**Cash Not Reported:** $11.68

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000068447 | -4.61%               | 4.42%                | 3.04%                |
| Class ID C000068446 | -4.65%               | 4.47%                | 2.98%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $179039.29               | $-2022471.19                               |
| Month 2  | $473632.16               | $1386456.10                                |
| Month 3  | $414006.08               | $861760.31                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Nexstar Media Group Inc                   | Nexstar Media Group Inc                   | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |      1756 | NS      | $303700.20    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Financial Services Inc           | PennyMac Financial Services Inc           | CUSIP: 70932M107<br>LEI: 549300W1D516HBDEU871 | Long             | EC               | CORP              | US        |      3559 | NS      | $354618.76    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc             | Independence Realty Trust Inc             | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |     24266 | NS      | $429265.54    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Plexus Corp                               | Plexus Corp                               | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |      2164 | NS      | $292810.84    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| First Interstate BancSystem Inc           | First Interstate BancSystem Inc           | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |     17265 | NS      | $497577.30    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies Inc                      | TTM Technologies Inc                      | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |     15465 | NS      | $631281.30    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Plains GP Holdings LP                     | Plains GP Holdings LP                     | CUSIP: 72651A207<br>LEI: 549300O56BSKRD8FAM12 | Long             | EC               | CORP              | US        |     28953 | NS      | $562556.79    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| AST SpaceMobile Inc                       | AST SpaceMobile Inc                       | CUSIP: 00217D100<br>LEI: 254900MBSC9P2UCI6623 | Long             | EC               | CORP              | US        |      1919 | NS      | $89674.87     | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Hut 8 Corp                                | Hut 8 Corp                                | CUSIP: 44812J104<br>LEI: 98450066FEF9C1D3FC20 | Long             | EC               | CORP              | US        |      7827 | NS      | $145582.20    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey Resources Corp                 | New Jersey Resources Corp                 | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |      8480 | NS      | $380073.60    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc                   | Mirion Technologies Inc                   | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |     14537 | NS      | $312981.61    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPRO GROUP HOLDINGS NV                   | Expro Group Holdings NV                   | CUSIP: 000000000<br>LEI: 724500LJYA8QIT73H017 | Long             | EC               | CORP              | NL        |     33540 | NS      | $288108.60    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| P10 Inc                                   | P10 Inc                                   | CUSIP: 69376K106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35885 | NS      | $366744.70    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastern Bankshares Inc                    | Eastern Bankshares Inc                    | CUSIP: 27627N105<br>LEI: 549300J245MBQU3DO403 | Long             | EC               | CORP              | US        |     25988 | NS      | $396836.76    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp                               | Avient Corp                               | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |      9797 | NS      | $316541.07    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Prestige Consumer Healthcare Inc          | Prestige Consumer Healthcare Inc          | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7048 | NS      | $562782.80    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust Inc     | Essential Properties Realty Trust Inc     | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |     16840 | NS      | $537364.40    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashland Inc                               | Ashland Inc                               | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |      6489 | NS      | $326266.92    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO Inc                                   | RXO Inc                                   | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |     11440 | NS      | $179836.80    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc           | Four Corners Property Trust Inc           | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |     13388 | NS      | $360271.08    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Cushman & Wakefield PLC                   | Cushman & Wakefield PLC                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     22684 | NS      | $251111.88    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC                        | nVent Electric PLC                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |      5420 | NS      | $397015.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                    | Permian Resources Corp                    | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |     28685 | NS      | $390689.70    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomad Foods Ltd                           | Nomad Foods Ltd                           | CUSIP: 000000000<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | VG        |     30740 | NS      | $522272.60    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmus Filtration Technologies Inc         | Atmus Filtration Technologies Inc         | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12621 | NS      | $459656.82    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System Inc               | Columbia Banking System Inc               | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20113 | NS      | $470241.94    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                                   | KBR Inc                                   | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |      6033 | NS      | $289222.02    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Under Armour Inc                          | Under Armour Inc                          | CUSIP: 904311206<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |     44641 | NS      | $289720.09    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc                 | Prosperity Bancshares Inc                 | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8338 | NS      | $585661.12    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Herc Holdings Inc                         | Herc Holdings Inc                         | CUSIP: 42704L104<br>LEI: 549300TP80QLITMSBP82 | Long             | EC               | CORP              | US        |      2052 | NS      | $270227.88    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Lease Corp                            | Air Lease Corp                            | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |      9676 | NS      | $565949.24    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co              | Graphic Packaging Holding Co              | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19402 | NS      | $408800.14    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Axalta Coating Systems Ltd                | Axalta Coating Systems Ltd                | CUSIP: 000000000<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |      9083 | NS      | $269674.27    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries Inc            | Advanced Energy Industries Inc            | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |      2425 | NS      | $321312.50    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corp                     | Lincoln National Corp                     | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |     10426 | NS      | $360739.60    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc                  | Phillips Edison & Co Inc                  | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |     12290 | NS      | $430518.70    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Kemper Corp                               | Kemper Corp                               | CUSIP: 488401100<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EC               | CORP              | US        |      4650 | NS      | $300111.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| nCino Inc                                 | nCino Inc                                 | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Long             | EC               | CORP              | US        |      9504 | NS      | $265826.88    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp                              | Vontier Corp                              | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |     13620 | NS      | $502578.00    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kadant Inc                                | Kadant Inc                                | CUSIP: 48282T104<br>LEI: 549300K06LNJYBMPYP15 | Long             | EC               | CORP              | US        |       582 | NS      | $184755.90    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian Inc                        | First Hawaiian Inc                        | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |     22479 | NS      | $561075.84    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan US Government Money Market Fund | JP Morgan US Government Money Market Fund | CUSIP: 4812C2270<br>LEI: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |     65455 | NS      | $65455.00     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc                         | Toll Brothers Inc                         | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |      2242 | NS      | $255879.46    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Banc of California Inc                    | Banc of California Inc                    | CUSIP: 05990K106<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | EC               | CORP              | US        |     18410 | NS      | $258660.50    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemours Co/The                           | Chemours Co/The                           | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |     17729 | NS      | $202997.05    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Pet Valu Holdings Ltd                     | Pet Valu Holdings Ltd                     | CUSIP: 71584R105<br>LEI: 2549004F77OUH5ES5L44 | Long             | EC               | CORP              | CA        |     11600 | NS      | $281364.42    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Hasbro Inc                                | Hasbro Inc                                | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               | CORP              | US        |      4743 | NS      | $350128.26    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs' Warehouse Inc/The                  | Chefs' Warehouse Inc/The                  | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |      4088 | NS      | $260855.28    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith Douglas Homes Corp                  | Smith Douglas Homes Corp                  | CUSIP: 83207R107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6525 | NS      | $126715.50    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp                        | Regal Rexnord Corp                        | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |      2738 | NS      | $396900.48    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| StandardAero Inc                          | StandardAero Inc                          | CUSIP: 85423L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10366 | NS      | $328083.90    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp                        | UMB Financial Corp                        | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |      4053 | NS      | $426213.48    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Inc                          | Viper Energy Inc                          | CUSIP: 927959106<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |      9553 | NS      | $364255.89    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Energy Group Inc             | Northwestern Energy Group Inc             | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |     10211 | NS      | $523824.30    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Simply Good Foods Co/The                  | Simply Good Foods Co/The                  | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9760 | NS      | $308318.40    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp                          | Black Hills Corp                          | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |      6669 | NS      | $374130.90    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Patrick Industries Inc                    | Patrick Industries Inc                    | CUSIP: 703343103<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | EC               | CORP              | US        |      3244 | NS      | $299323.88    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                | Brixmor Property Group Inc                | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     14886 | NS      | $387631.44    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Two Harbors Investment Corp               | Two Harbors Investment Corp               | CUSIP: 90187B804<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EC               | CORP              | US        |     23693 | NS      | $255173.61    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Adtalem Global Education Inc              | Adtalem Global Education Inc              | CUSIP: 00737L103<br>LEI: 549300Z467EZLMODV621 | Long             | EC               | CORP              | US        |      2071 | NS      | $263493.33    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Newell Brands Inc                         | Newell Brands Inc                         | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |     48814 | NS      | $263595.60    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd                 | Axis Capital Holdings Ltd                 | CUSIP: 000000000<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EC               | CORP              | BM        |      3838 | NS      | $398461.16    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corp                            | Flowserve Corp                            | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |      7399 | NS      | $387337.65    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc             | Selective Insurance Group Inc             | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |      4293 | NS      | $371988.45    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE                         | Brunswick Corp/DE                         | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |      4554 | NS      | $251562.96    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co              | Portland General Electric Co              | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     12149 | NS      | $493613.87    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                        | Douglas Emmett Inc                        | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18275 | NS      | $274856.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Thryv Holdings Inc                        | Thryv Holdings Inc                        | CUSIP: 886029206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24828 | NS      | $301908.48    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular Inc                               | Popular Inc                               | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |      5983 | NS      | $659386.43    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                                  | ICON PLC                                  | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |      1837 | NS      | $267191.65    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| United Community Banks Inc/GA             | United Community Banks Inc/GA             | CUSIP: 90984P303<br>LEI: 549300GVW0FV66X3U703 | Long             | EC               | CORP              | US        |     16056 | NS      | $478308.24    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Stewart Information Services Corp         | Stewart Information Services Corp         | CUSIP: 860372101<br>LEI: 529900TV1XI0PLKENU10 | Long             | EC               | CORP              | US        |      4495 | NS      | $292624.50    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings Inc                       | Silgan Holdings Inc                       | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |      9214 | NS      | $499214.52    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc                | Grand Canyon Education Inc                | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |      2132 | NS      | $402948.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| International Game Technology PLC         | International Game Technology PLC         | CUSIP: 000000000<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | EC               | CORP              | GB        |     20518 | NS      | $324389.58    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Organon & Co                              | Organon & Co                              | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |     14068 | NS      | $136178.24    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp Inc                     | East West Bancorp Inc                     | CUSIP: 27579R104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4703 | NS      | $474908.94    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bel Fuse Inc                              | Bel Fuse Inc                              | CUSIP: 077347300<br>LEI: 2549009L4XYDBRRY6X39 | Long             | EC               | CORP              | US        |      4663 | NS      | $455528.47    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Albany International Corp                 | Albany International Corp                 | CUSIP: 012348108<br>LEI: L73WCPNCZIRSQGZTW097 | Long             | EC               | CORP              | US        |      6148 | NS      | $431159.24    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp                                  | SLM Corp                                  | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15395 | NS      | $504802.05    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS Institutional Money Market Portfolio  | MFS Institutional Money Market Portfolio  | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | EC               | RF                | US        |    832180 | NS      | $832262.73    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor Inc                            | FormFactor Inc                            | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |     10486 | NS      | $360823.26    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                            | TechnipFMC PLC                            | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     12591 | NS      | $433634.04    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corp                     | Envista Holdings Corp                     | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |     19467 | NS      | $380385.18    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                    | Cathay General Bancorp                    | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |     11165 | NS      | $508342.45    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                     | Urban Edge Properties                     | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15873 | NS      | $296190.18    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp            | Atlantic Union Bankshares Corp            | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9535 | NS      | $298254.80    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co                    | International Paper Co                    | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |      7416 | NS      | $347291.28    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises Inc                   | Insight Enterprises Inc                   | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Long             | EC               | CORP              | US        |      2825 | NS      | $390090.13    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Hayward Holdings Inc                      | Hayward Holdings Inc                      | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29160 | NS      | $402408.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| TriMas Corp                               | TriMas Corp                               | CUSIP: 896215209<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | EC               | CORP              | US        |     11650 | NS      | $333306.50    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Insurance Holdings Ltd              | Aspen Insurance Holdings Ltd              | CUSIP: 000000000<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EC               | CORP              | BM        |      9157 | NS      | $288170.79    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas Inc                               | ONE Gas Inc                               | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |      5850 | NS      | $420381.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Sportswear Co                    | Columbia Sportswear Co                    | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |      2997 | NS      | $183056.76    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Trust         | National Storage Affiliates Trust         | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               | CORP              | US        |       584 | NS      | $18682.16     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp                      | Hancock Whitney Corp                      | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |      9406 | NS      | $539904.40    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Esab Corp                                 | Esab Corp                                 | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |      2889 | NS      | $348268.95    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health Inc                    | Option Care Health Inc                    | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     14614 | NS      | $474662.72    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp                                  | LKQ Corp                                  | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |      8818 | NS      | $326354.18    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide Inc                         | ACI Worldwide Inc                         | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |      7745 | NS      | $355572.95    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Smartstop Self Storage REIT Inc           | Smartstop Self Storage REIT Inc           | CUSIP: 83192D402<br>LEI: 549300EC266625K12S42 | Long             | EC               | CORP              | US        |     11099 | NS      | $402116.77    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU Resources Group Inc                   | MDU Resources Group Inc                   | CUSIP: 552690109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11630 | NS      | $193872.10    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc              | Texas Capital Bancshares Inc              | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |      5722 | NS      | $454326.80    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacific Premier Bancorp Inc               | Pacific Premier Bancorp Inc               | CUSIP: 69478X105<br>LEI: 549300Q1KIC3KLI0XG98 | Long             | EC               | CORP              | US        |     27089 | NS      | $571307.01    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp                      | Quaker Chemical Corp                      | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |      2972 | NS      | $332685.68    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp                                  | UGI Corp                                  | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     13249 | NS      | $482528.58    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp                     | Antero Resources Corp                     | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     12756 | NS      | $513811.68    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co                      | Matador Resources Co                      | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |      8299 | NS      | $396028.28    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR Atleos Corp                           | NCR Atleos Corp                           | CUSIP: 63001N106<br>LEI: 9845005FC3S0VA714741 | Long             | EC               | CORP              | US        |     18319 | NS      | $522641.07    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                     | Lantheus Holdings Inc                     | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      2243 | NS      | $183611.98    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Parent Inc       | Concentra Group Holdings Parent Inc       | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21276 | NS      | $437647.32    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| TriNet Group Inc                          | TriNet Group Inc                          | CUSIP: 896288107<br>LEI: 5299003FJVBETSFKE990 | Long             | EC               | CORP              | US        |      4557 | NS      | $333298.98    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                              | Visteon Corp                              | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |      4250 | NS      | $396525.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                               | Hexcel Corp                               | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |      7341 | NS      | $414693.09    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc             | Rexford Industrial Realty Inc             | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |     10319 | NS      | $367046.83    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Utz Brands Inc                            | Utz Brands Inc                            | CUSIP: 918090101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15016 | NS      | $188450.80    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc                      | Chart Industries Inc                      | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |      1000 | NS      | $164650.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Everus Construction Group Inc             | Everus Construction Group Inc             | CUSIP: 300426103<br>LEI: 2549006JMMHR0KILT425 | Long             | EC               | CORP              | US        |      4784 | NS      | $303927.52    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                    | Cousins Properties Inc                    | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |     13470 | NS      | $404504.10    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Infrastructure Corp            | Brookfield Infrastructure Corp            | CUSIP: 11276H106<br>LEI: 254900YTMKBFJAKUBO55 | Long             | EC               | CORP              | CA        |      2181 | NS      | $90729.60     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Dana Inc                                  | Dana Inc                                  | CUSIP: 235825205<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | EC               | CORP              | US        |     22374 | NS      | $383714.10    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes Inc                             | M/I Homes Inc                             | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |      3324 | NS      | $372686.88    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc                     | Element Solutions Inc                     | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |     21470 | NS      | $486295.50    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group Inc/The           | Hanover Insurance Group Inc/The           | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |      2611 | NS      | $443530.57    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Fleet Management Corp             | Element Fleet Management Corp             | CUSIP: 286181201<br>LEI: 5493000PGBS1C22ELQ16 | Long             | EC               | CORP              | CA        |     14666 | NS      | $367363.51    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| CVB Financial Corp                        | CVB Financial Corp                        | CUSIP: 126600105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18913 | NS      | $374288.27    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Timken Co/The                             | Timken Co/The                             | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |      5320 | NS      | $385966.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer