# EDGAR Filing Document

**Accession Number:** 0000911637
**File Stem:** 0001410368-26-016693
**Filing Date:** 2026-2
**Character Count:** 80401
**Document Hash:** 4728e5989d9b88776a2fe82a6eb08ed5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-016693.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0001410368-26-016693

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS SERIES TRUST XI
- **CENTRAL INDEX KEY:** 0000911637

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07992
- **FILM NUMBER:** 26668409

**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 UNION STANDARD TRUST
- **DATE OF NAME CHANGE:** 19930907

## Series and Classes Contracts Data

### MFS Mid Cap Value Fund (Series ID: S000002499)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006776 | A            | MVCAX           |
| C000006777 | R4           | MVCJX           |
| C000006781 | B            | MCBVX           |
| C000006782 | C            | MVCCX           |
| C000006783 | I            | MCVIX           |
| C000006785 | R1           | MVCGX           |
| C000006787 | R2           | MCVRX           |
| C000006788 | R3           | MVCHX           |
| C000125404 | R6           | MVCKX           |

## Nport-Ex

MDV-Q1

![](imgddf9adeb1.gif)

**Quarterly Report**

December 31, 2025

MFS<sup>®</sup> Mid Cap Value Fund

![](imgc146b7a82.gif)

------

**Portfolio of Investments**

12/31/25 (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 – 98.7%  | Common Stocks – 98.7%  | Common Stocks – 98.7%  |
| Aerospace & Defense – 2.3% | Aerospace & Defense – 2.3% |  |
| KBR, Inc. | 1801824 | &nbsp;&nbsp;&nbsp; $72433325 |
| L3Harris Technologies, Inc. | 499717 | &nbsp;&nbsp;&nbsp; 146701920 |
| Leidos Holdings, Inc. | 712020 | &nbsp;&nbsp;&nbsp; 128448408 |
| Standard Aero, Inc. (a) | 1193231 | &nbsp;&nbsp;&nbsp; 34221865 |
|  |  | &nbsp;&nbsp;&nbsp; $381805518 |
| Airlines – 2.0% | Airlines – 2.0% |  |
| Alaska Air Group, Inc. (a) | 1886046 | &nbsp;&nbsp;&nbsp; $94868114 |
| Delta Air Lines, Inc. | 1998818 | &nbsp;&nbsp;&nbsp; 138717969 |
| Southwest Airlines Co. | 2576962 | &nbsp;&nbsp;&nbsp; 106505839 |
|  |  | &nbsp;&nbsp;&nbsp; $340091922 |
| Alcoholic Beverages – 0.3% | Alcoholic Beverages – 0.3% |  |
| Brown-Forman Corp., " B" | 1735652 | &nbsp;&nbsp;&nbsp; $45231091 |
| Automotive – 1.8% | Automotive – 1.8% |  |
| Aptiv PLC (a) | 2097393 | &nbsp;&nbsp;&nbsp; $159590634 |
| Group 1 Automotive, Inc. | 88597 | &nbsp;&nbsp;&nbsp; 34845200 |
| LKQ Corp. | 3476556 | &nbsp;&nbsp;&nbsp; 104991991 |
|  |  | &nbsp;&nbsp;&nbsp; $299427825 |
| Biotechnology – 0.5% | Biotechnology – 0.5% |  |
| Biogen, Inc. (a)  | 432742 | &nbsp;&nbsp;&nbsp; $76158265 |
| Broadcasting – 1.0% | Broadcasting – 1.0% |  |
| Nexstar Media Group, Inc. | 333738 | &nbsp;&nbsp;&nbsp; $67765501 |
| Omnicom Group, Inc. | 1152406 | &nbsp;&nbsp;&nbsp; 93056784 |
|  |  | &nbsp;&nbsp;&nbsp; $160822285 |
| Brokerage & Asset Managers – 2.4% | Brokerage & Asset Managers – 2.4% |  |
| Carlyle Group, Inc. | 1744994 | &nbsp;&nbsp;&nbsp; $103146596 |
| Raymond James Financial, Inc. | 1199848 | &nbsp;&nbsp;&nbsp; 192683590 |
| TPG, Inc. | 1488700 | &nbsp;&nbsp;&nbsp; 95038608 |
|  |  | &nbsp;&nbsp;&nbsp; $390868794 |
| Business Services – 2.7% | Business Services – 2.7% |  |
| Cognizant Technology Solutions Corp., "A" | 1016059 | &nbsp;&nbsp;&nbsp; $84332897 |
| Fidelity National Information Services, Inc. | 1989003 | &nbsp;&nbsp;&nbsp; 132189139 |
| Global Payments, Inc. | 1457205 | &nbsp;&nbsp;&nbsp; 112787667 |
| TransUnion | 1436364 | &nbsp;&nbsp;&nbsp; 123168213 |
|  |  | &nbsp;&nbsp;&nbsp; $452477916 |
| Chemicals – 1.1% | Chemicals – 1.1% |  |
| Eastman Chemical Co. | 1644149 | &nbsp;&nbsp;&nbsp; $104946031 |
| Qnity Electronics, Inc. | 945513 | &nbsp;&nbsp;&nbsp; 77201136 |
|  |  | &nbsp;&nbsp;&nbsp; $182147167 |
| Computer Software – 0.9% | Computer Software – 0.9% |  |
| Check Point Software Technologies Ltd. (a) | 516182 | &nbsp;&nbsp;&nbsp; $95782732 |
| Pegasystems, Inc. | 894529 | &nbsp;&nbsp;&nbsp; 53421272 |
|  |  | &nbsp;&nbsp;&nbsp; $149204004 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued  | Common Stocks – continued  | Common Stocks – continued  |
| Computer Software - Systems – 1.5% | Computer Software - Systems – 1.5% |  |
| CDW Corp. | 702995 | &nbsp;&nbsp;&nbsp; $95747919 |
| Seagate Technology Holdings PLC | 281578 | &nbsp;&nbsp;&nbsp; 77543765 |
| Zebra Technologies Corp., "A" (a) | 348053 | &nbsp;&nbsp;&nbsp; 84514230 |
|  |  | &nbsp;&nbsp;&nbsp; $257805914 |
| Construction – 7.1% | Construction – 7.1% |  |
| Allegion PLC | 1051360 | &nbsp;&nbsp;&nbsp; $167397539 |
| Builders FirstSource, Inc. (a) | 614265 | &nbsp;&nbsp;&nbsp; 63201726 |
| Equity Lifestyle Properties, Inc., REIT | 2014276 | &nbsp;&nbsp;&nbsp; 122085268 |
| Essex Property Trust, Inc., REIT | 428378 | &nbsp;&nbsp;&nbsp; 112097955 |
| Ferguson Enterprises, Inc. | 410842 | &nbsp;&nbsp;&nbsp; 91465754 |
| James Hardie Industries PLC (a) | 3516598 | &nbsp;&nbsp;&nbsp; 72969409 |
| Mid-America Apartment Communities, Inc., REIT | 772065 | &nbsp;&nbsp;&nbsp; 107247549 |
| Mohawk Industries, Inc. (a) | 780179 | &nbsp;&nbsp;&nbsp; 85273565 |
| Otis Worldwide Corp. | 1214072 | &nbsp;&nbsp;&nbsp; 106049189 |
| Pulte Homes, Inc. | 1377087 | &nbsp;&nbsp;&nbsp; 161477222 |
| Stanley Black & Decker, Inc. | 1259581 | &nbsp;&nbsp;&nbsp; 93561677 |
|  |  | &nbsp;&nbsp;&nbsp; $1182826853 |
| Consumer Products – 1.6% | Consumer Products – 1.6% |  |
| International Flavors & Fragrances, Inc. | 1359797 | &nbsp;&nbsp;&nbsp; $91636720 |
| Kenvue, Inc. | 7946041 | &nbsp;&nbsp;&nbsp; 137069207 |
| Newell Brands, Inc. | 9256702 | &nbsp;&nbsp;&nbsp; 34434932 |
|  |  | &nbsp;&nbsp;&nbsp; $263140859 |
| Containers – 1.8% | Containers – 1.8% |  |
| Amcor PLC | 10677925 | &nbsp;&nbsp;&nbsp; $89053894 |
| Avery Dennison Corp. | 598606 | &nbsp;&nbsp;&nbsp; 108874459 |
| Graphic Packaging Holding Co. | 7014410 | &nbsp;&nbsp;&nbsp; 105637015 |
|  |  | &nbsp;&nbsp;&nbsp; $303565368 |
| Electrical Equipment – 3.2% | Electrical Equipment – 3.2% |  |
| Corning, Inc. | 2392081 | &nbsp;&nbsp;&nbsp; $209450612 |
| Hubbell, Inc. | 223935 | &nbsp;&nbsp;&nbsp; 99451773 |
| nVent Electric PLC | 1266555 | &nbsp;&nbsp;&nbsp; 129150613 |
| TE Connectivity PLC | 403717 | &nbsp;&nbsp;&nbsp; 91849655 |
|  |  | &nbsp;&nbsp;&nbsp; $529902653 |
| Electronics – 3.3% | Electronics – 3.3% |  |
| Coherent Corp. (a) | 414643 | &nbsp;&nbsp;&nbsp; $76530659 |
| Entegris, Inc. | 1053089 | &nbsp;&nbsp;&nbsp; 88722748 |
| Flex Ltd. (a) | 3596665 | &nbsp;&nbsp;&nbsp; 217310499 |
| NXP Semiconductors N.V. | 497518 | &nbsp;&nbsp;&nbsp; 107991257 |
| Skyworks Solutions, Inc. | 890684 | &nbsp;&nbsp;&nbsp; 56478273 |
|  |  | &nbsp;&nbsp;&nbsp; $547033436 |
| Energy - Independent – 4.2% | Energy - Independent – 4.2% |  |
| Chord Energy Corp. | 654895 | &nbsp;&nbsp;&nbsp; $60708766 |
| Diamondback Energy, Inc. | 890053 | &nbsp;&nbsp;&nbsp; 133801667 |
| Expand Energy Corp. | 1446030 | &nbsp;&nbsp;&nbsp; 159583871 |
| Peabody Energy Corp. | 1685357 | &nbsp;&nbsp;&nbsp; 50055103 |
| Permian Resources Corp. | 9746707 | &nbsp;&nbsp;&nbsp; 136746299 |
| Valero Energy Corp. | 956683 | &nbsp;&nbsp;&nbsp; 155738426 |
|  |  | &nbsp;&nbsp;&nbsp; $696634132 |
| Energy - Renewables – 0.3% | Energy - Renewables – 0.3% |  |
| Generac Holdings, Inc. (a)  | 394228 | &nbsp;&nbsp;&nbsp; $53760872 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued  | Common Stocks – continued  | Common Stocks – continued  |
| Engineering - Construction – 0.8% | Engineering - Construction – 0.8% |  |
| Jacobs Solutions, Inc.  | 1006558 | &nbsp;&nbsp;&nbsp; $133328673 |
| Food & Beverages – 2.1% | Food & Beverages – 2.1% |  |
| Campbell Soup Co. (l) | 1758914 | &nbsp;&nbsp;&nbsp; $49020933 |
| Coca-Cola Europacific Partners PLC | 1159625 | &nbsp;&nbsp;&nbsp; 105177988 |
| Hershey Co. | 525064 | &nbsp;&nbsp;&nbsp; 95551147 |
| Ingredion, Inc. | 830247 | &nbsp;&nbsp;&nbsp; 91543034 |
|  |  | &nbsp;&nbsp;&nbsp; $341293102 |
| Food & Drug Stores – 0.6% | Food & Drug Stores – 0.6% |  |
| Albertsons Cos., Inc., "A" | 5397882 | &nbsp;&nbsp;&nbsp; $92681634 |
| Forest & Paper Products – 0.5% | Forest & Paper Products – 0.5% |  |
| International Paper Co.  | 2132233 | &nbsp;&nbsp;&nbsp; $83988658 |
| Gaming & Lodging – 2.8% | Gaming & Lodging – 2.8% |  |
| Brightstar Lottery PLC | 4390813 | &nbsp;&nbsp;&nbsp; $67969785 |
| Hyatt Hotels Corp. | 840872 | &nbsp;&nbsp;&nbsp; 134808599 |
| VICI Properties, Inc., REIT | 4566721 | &nbsp;&nbsp;&nbsp; 128416194 |
| Viking Holdings Ltd. (a) | 1878233 | &nbsp;&nbsp;&nbsp; 134124619 |
|  |  | &nbsp;&nbsp;&nbsp; $465319197 |
| Health Maintenance Organizations – 0.8% | Health Maintenance Organizations – 0.8% |  |
| Humana, Inc.  | 521560 | &nbsp;&nbsp;&nbsp; $133587163 |
| Insurance – 8.2% | Insurance – 8.2% |  |
| American International Group, Inc. | 1615755 | &nbsp;&nbsp;&nbsp; $138227840 |
| Assurant, Inc. | 648817 | &nbsp;&nbsp;&nbsp; 156267574 |
| Corebridge Financial, Inc. | 3800939 | &nbsp;&nbsp;&nbsp; 114674330 |
| Equitable Holdings, Inc. | 1479413 | &nbsp;&nbsp;&nbsp; 70494029 |
| Everest Group Ltd. | 301979 | &nbsp;&nbsp;&nbsp; 102476574 |
| Hanover Insurance Group, Inc. | 724436 | &nbsp;&nbsp;&nbsp; 132405168 |
| Hartford Insurance Group, Inc. | 1515971 | &nbsp;&nbsp;&nbsp; 208900804 |
| Lincoln National Corp. | 2885418 | &nbsp;&nbsp;&nbsp; 128487663 |
| Voya Financial, Inc. | 1634883 | &nbsp;&nbsp;&nbsp; 121782435 |
| Willis Towers Watson PLC | 572692 | &nbsp;&nbsp;&nbsp; 188186591 |
|  |  | &nbsp;&nbsp;&nbsp; $1361903008 |
| Leisure & Toys – 1.3% | Leisure & Toys – 1.3% |  |
| Brunswick Corp. | 1825743 | &nbsp;&nbsp;&nbsp; $135543160 |
| Mattel, Inc. (a) | 3833620 | &nbsp;&nbsp;&nbsp; 76059021 |
|  |  | &nbsp;&nbsp;&nbsp; $211602181 |
| Machinery & Tools – 6.2% | Machinery & Tools – 6.2% |  |
| AGCO Corp. | 1173914 | &nbsp;&nbsp;&nbsp; $122462708 |
| Flowserve Corp. | 1502813 | &nbsp;&nbsp;&nbsp; 104265166 |
| Ingersoll Rand, Inc. | 1189546 | &nbsp;&nbsp;&nbsp; 94235834 |
| ITT, Inc. | 458625 | &nbsp;&nbsp;&nbsp; 79576024 |
| Nordson Corp. | 402086 | &nbsp;&nbsp;&nbsp; 96673537 |
| PACCAR, Inc. | 918886 | &nbsp;&nbsp;&nbsp; 100627206 |
| Pentair PLC | 1369420 | &nbsp;&nbsp;&nbsp; 142611399 |
| Regal Rexnord Corp. | 816120 | &nbsp;&nbsp;&nbsp; 114517958 |
| Wabtec Corp. | 800157 | &nbsp;&nbsp;&nbsp; 170793512 |
|  |  | &nbsp;&nbsp;&nbsp; $1025763344 |
| Major Banks – 0.8% | Major Banks – 0.8% |  |
| Regions Financial Corp.  | 5149278 | &nbsp;&nbsp;&nbsp; $139545434 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued  | Common Stocks – continued  | Common Stocks – continued  |
| Medical & Health Technology & Services – 3.5% | Medical & Health Technology & Services – 3.5% |  |
| Cencora, Inc. | 422576 | &nbsp;&nbsp;&nbsp; $142725044 |
| ICON PLC (a) | 448478 | &nbsp;&nbsp;&nbsp; 81721661 |
| Labcorp Holdings, Inc. | 424743 | &nbsp;&nbsp;&nbsp; 106559524 |
| Universal Health Services, Inc. | 554296 | &nbsp;&nbsp;&nbsp; 120847614 |
| Ventas, Inc., REIT | 1694845 | &nbsp;&nbsp;&nbsp; 131147106 |
|  |  | &nbsp;&nbsp;&nbsp; $583000949 |
| Medical Equipment – 4.7% | Medical Equipment – 4.7% |  |
| Agilent Technologies, Inc. | 1459206 | &nbsp;&nbsp;&nbsp; $198554161 |
| Avantor, Inc. (a) | 5296167 | &nbsp;&nbsp;&nbsp; 60694074 |
| Becton, Dickinson and Co. | 646914 | &nbsp;&nbsp;&nbsp; 125546600 |
| Cooper Companies, Inc. (a) | 973894 | &nbsp;&nbsp;&nbsp; 79820352 |
| GE Healthcare Technologies, Inc. | 967070 | &nbsp;&nbsp;&nbsp; 79319081 |
| Medline, Inc., "A" (a) | 1101686 | &nbsp;&nbsp;&nbsp; 46270812 |
| Revvity, Inc. | 817065 | &nbsp;&nbsp;&nbsp; 79051039 |
| STERIS PLC | 466133 | &nbsp;&nbsp;&nbsp; 118174038 |
|  |  | &nbsp;&nbsp;&nbsp; $787430157 |
| Metals & Mining – 0.6% | Metals & Mining – 0.6% |  |
| Nucor Corp.  | 633500 | &nbsp;&nbsp;&nbsp; $103330185 |
| Natural Gas - Distribution – 0.7% | Natural Gas - Distribution – 0.7% |  |
| Atmos Energy Corp.  | 689238 | &nbsp;&nbsp;&nbsp; $115536966 |
| Natural Gas - Pipeline – 1.8% | Natural Gas - Pipeline – 1.8% |  |
| Plains GP Holdings LP | 5431835 | &nbsp;&nbsp;&nbsp; $103965322 |
| Targa Resources Corp. | 1016114 | &nbsp;&nbsp;&nbsp; 187473033 |
|  |  | &nbsp;&nbsp;&nbsp; $291438355 |
| Oil Services – 1.1% | Oil Services – 1.1% |  |
| Baker Hughes Co. | 1104468 | &nbsp;&nbsp;&nbsp; $50297473 |
| TechnipFMC PLC | 2846475 | &nbsp;&nbsp;&nbsp; 126838926 |
|  |  | &nbsp;&nbsp;&nbsp; $177136399 |
| Other Banks & Diversified Financials – 5.8% | Other Banks & Diversified Financials – 5.8% |  |
| Columbia Banking System, Inc. | 2896323 | &nbsp;&nbsp;&nbsp; $80952228 |
| East West Bancorp, Inc. | 1110742 | &nbsp;&nbsp;&nbsp; 124836293 |
| Fifth Third Bancorp | 2527390 | &nbsp;&nbsp;&nbsp; 118307126 |
| M&T Bank Corp. | 819554 | &nbsp;&nbsp;&nbsp; 165123740 |
| Northern Trust Corp. | 1298525 | &nbsp;&nbsp;&nbsp; 177365530 |
| Prosperity Bancshares, Inc. | 1089341 | &nbsp;&nbsp;&nbsp; 75284356 |
| SLM Corp. | 4172133 | &nbsp;&nbsp;&nbsp; 112897919 |
| Synchrony Financial | 1266105 | &nbsp;&nbsp;&nbsp; 105631140 |
|  |  | &nbsp;&nbsp;&nbsp; $960398332 |
| Pharmaceuticals – 0.2% | Pharmaceuticals – 0.2% |  |
| Organon & Co.  | 3704989 | &nbsp;&nbsp;&nbsp; $26564771 |
| Pollution Control – 0.7% | Pollution Control – 0.7% |  |
| GFL Environmental, Inc.  | 2734038 | &nbsp;&nbsp;&nbsp; $117426932 |
| Real Estate – 2.4% | Real Estate – 2.4% |  |
| Brixmor Property Group, Inc., REIT | 4913292 | &nbsp;&nbsp;&nbsp; $128826516 |
| Jones Lang LaSalle, Inc. (a) | 435705 | &nbsp;&nbsp;&nbsp; 146601662 |
| W.P. Carey, Inc., REIT | 1986717 | &nbsp;&nbsp;&nbsp; 127865106 |
|  |  | &nbsp;&nbsp;&nbsp; $403293284 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Common Stocks – continued  | Common Stocks – continued  | Common Stocks – continued  |
| Real Estate - Storage – 1.3% | Real Estate - Storage – 1.3% |  |
| Extra Space Storage, Inc., REIT | 1050541 | &nbsp;&nbsp;&nbsp; $136801449 |
| Rexford Industrial Realty, Inc., REIT | 2046786 | &nbsp;&nbsp;&nbsp; 79251554 |
|  |  | &nbsp;&nbsp;&nbsp; $216053003 |
| Restaurants – 3.0% | Restaurants – 3.0% |  |
| Aramark | 3607486 | &nbsp;&nbsp;&nbsp; $132971934 |
| Darden Restaurants, Inc. | 438147 | &nbsp;&nbsp;&nbsp; 80627811 |
| SYSCO Corp. | 1519226 | &nbsp;&nbsp;&nbsp; 111951764 |
| U.S. Foods Holding Corp. (a) | 2237033 | &nbsp;&nbsp;&nbsp; 168493325 |
|  |  | &nbsp;&nbsp;&nbsp; $494044834 |
| Specialty Chemicals – 1.0% | Specialty Chemicals – 1.0% |  |
| Ashland, Inc. | 1632983 | &nbsp;&nbsp;&nbsp; $95807113 |
| DuPont de Nemours, Inc. | 1891026 | &nbsp;&nbsp;&nbsp; 76019245 |
|  |  | &nbsp;&nbsp;&nbsp; $171826358 |
| Specialty Stores – 1.5% | Specialty Stores – 1.5% |  |
| BJ's Wholesale Club Holdings, Inc. (a) | 873724 | &nbsp;&nbsp;&nbsp; $78661372 |
| Ross Stores, Inc. | 904255 | &nbsp;&nbsp;&nbsp; 162892495 |
|  |  | &nbsp;&nbsp;&nbsp; $241553867 |
| Trucking – 1.2% | Trucking – 1.2% |  |
| FedEx Corp. | 346581 | &nbsp;&nbsp;&nbsp; $100113388 |
| J.B. Hunt Transport Services, Inc. | 500144 | &nbsp;&nbsp;&nbsp; 97197985 |
|  |  | &nbsp;&nbsp;&nbsp; $197311373 |
| Utilities - Electric Power – 7.1% | Utilities - Electric Power – 7.1% |  |
| Alliant Energy Corp. | 2378788 | &nbsp;&nbsp;&nbsp; $154645008 |
| CenterPoint Energy, Inc. | 3369222 | &nbsp;&nbsp;&nbsp; 129175971 |
| CMS Energy Corp. | 2230229 | &nbsp;&nbsp;&nbsp; 155959914 |
| Evergy, Inc. | 1150197 | &nbsp;&nbsp;&nbsp; 83377780 |
| PG&E Corp. | 11924782 | &nbsp;&nbsp;&nbsp; 191631247 |
| Pinnacle West Capital Corp. | 1409864 | &nbsp;&nbsp;&nbsp; 125054937 |
| Public Service Enterprise Group, Inc. | 2110217 | &nbsp;&nbsp;&nbsp; 169450425 |
| Sempra | 1497892 | &nbsp;&nbsp;&nbsp; 132248885 |
| Talen Energy Corp. (a) | 99794 | &nbsp;&nbsp;&nbsp; 37406783 |
|  |  | &nbsp;&nbsp;&nbsp; $1178950950 |
| **Total Common Stocks**  |  | &nbsp;&nbsp; **$16367213983** |
| Convertible Preferred Stocks – 0.6%  | Convertible Preferred Stocks – 0.6%  | Convertible Preferred Stocks – 0.6%  |
| Aerospace & Defense – 0.6% | Aerospace & Defense – 0.6% |  |
| Boeing Co., 6%, 10/15/2027  | 1560173 | &nbsp;&nbsp;&nbsp; $107745547 |
| Mutual Funds (h) – 0.6%  | Mutual Funds (h) – 0.6%  | Mutual Funds (h) – 0.6%  |
| Money Market Funds – 0.6% | Money Market Funds – 0.6% |  |
| MFS Institutional Money Market Portfolio, 3.82% (v)  | 97742101 | &nbsp;&nbsp;&nbsp; $97761649 |
| Collateral for Securities Loaned – 0.1%  | Collateral for Securities Loaned – 0.1%  | Collateral for Securities Loaned – 0.1%  |
| JPMorgan U.S. Government Money Market Fund - Class IM Shares, 3.72% (j)  | 9996375 | &nbsp;&nbsp;&nbsp; $9996375 |
| Other Assets, Less Liabilities – (0.0)% |  | &nbsp;&nbsp;&nbsp; (3746951)<br>|
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$16578970603** |

---

&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 $97,761,649 and $16,484,955,905, respectively.

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

------

*Portfolio of Investments (unaudited) – continued*

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

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

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

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

The following abbreviations are used in this report and are defined: <br> 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**

12/31/25 (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. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which

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

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

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

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other 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 December 31, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities | &nbsp;&nbsp;&nbsp; $16474959530 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $16474959530 |
| Investment Companies | &nbsp;&nbsp;&nbsp; 107758024 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 107758024 |
| Total | &nbsp;&nbsp;&nbsp; $16582717554 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $16582717554 |

---

------

*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. The following were affiliated issuers for the period ended December 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; $312755584 | &nbsp;&nbsp; $758653783 | &nbsp;&nbsp; $973636492 | &nbsp;&nbsp; $(21689)<br>| &nbsp;&nbsp; $10463 | &nbsp;&nbsp; $97761649<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; $1554315 | &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 XI

- **b. Investment Company Act file number:** 811-07992

- **c. CIK number of Registrant:** 0000911637

- **d. LEI of Registrant:** 549300O3TPADV1WWUX67

- **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 Mid Cap Value Fund

- **b. EDGAR series identifier (if any):** S000002499

- **c. LEI of Series:** BXHSCSBXYY1DOHP6E209

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $16613713821.35

**Total Liabilities:** $14313285.98

**Net Assets:** $16599400535.37

**Cash Not Reported:** $542986.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006776 | -1.55%               | 2.56%                | 0.19%                |
| Class ID C000006777 | -1.51%               | 2.60%                | 0.19%                |
| Class ID C000006781 | -1.61%               | 2.48%                | 0.16%                |
| Class ID C000006782 | -1.63%               | 2.51%                | 0.14%                |
| Class ID C000006783 | -1.53%               | 2.59%                | 0.22%                |
| Class ID C000006785 | -1.60%               | 2.50%                | 0.11%                |
| Class ID C000006787 | -1.57%               | 2.54%                | 0.16%                |
| Class ID C000006788 | -1.56%               | 2.57%                | 0.18%                |
| Class ID C000125404 | -1.53%               | 2.61%                | 0.21%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $64211597.50             | $-329949243.67                             |
| Month 2  | $117000171.35            | $290359469.53                              |
| Month 3  | $10851628.24             | $-4659072.18                               |

### 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        |   1173914 | NS      | $122462708.48 | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc                   | Agilent Technologies Inc                   | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |   1459206 | NS      | $198554160.42 | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Alaska Air Group Inc                       | Alaska Air Group Inc                       | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |   1886046 | NS      | $94868113.80  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Albertsons Cos Inc                         | Albertsons Cos Inc                         | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |   5397882 | NS      | $92681633.94  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp                        | Alliant Energy Corp                        | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |   2378788 | NS      | $154645007.88 | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group Inc           | American International Group Inc           | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |   1615755 | NS      | $138227840.25 | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                                | Cencora Inc                                | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |    422576 | NS      | $142725044.00 | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                                    | Aramark                                    | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |   3607486 | NS      | $132971933.96 | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashland Inc                                | Ashland Inc                                | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |   1632983 | NS      | $95807112.61  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant Inc                               | Assurant Inc                               | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |    648817 | NS      | $156267574.45 | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmos Energy Corp                          | Atmos Energy Corp                          | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |    689238 | NS      | $115536965.94 | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantor Inc                                | Avantor Inc                                | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   5296167 | NS      | $60694073.82  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Avery Dennison Corp                        | Avery Dennison Corp                        | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |    598606 | NS      | $108874459.28 | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings Inc           | BJ's Wholesale Club Holdings Inc           | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |    873724 | NS      | $78661371.72  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                            | Baker Hughes Co                            | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1104468 | NS      | $50297472.72  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co                      | Becton Dickinson & Co                      | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |    646914 | NS      | $125546599.98 | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                                 | Biogen Inc                                 | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |    432742 | NS      | $76158264.58  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO/THE                              | Boeing Co/The                              | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |   1560173 | NS      | $107745547.38 | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                 | Brixmor Property Group Inc                 | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |   4913292 | NS      | $128826516.24 | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown-Forman Corp                          | Brown-Forman Corp                          | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Long             | EC               | CORP              | US        |   1735652 | NS      | $45231091.12  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE                          | Brunswick Corp/DE                          | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |   1825743 | NS      | $135543160.32 | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc                   | Builders FirstSource Inc                   | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |    614265 | NS      | $63201725.85  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                                | CDW Corp/DE                                | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |    702995 | NS      | $95747919.00  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corp                            | CMS Energy Corp                            | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |   2230229 | NS      | $155959913.97 | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Campbell's Company/The                     | Campbell's Company/The                     | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | EC               | CORP              | US        |   1758914 | NS      | $49020933.18  | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| Carlyle Group Inc/The                      | Carlyle Group Inc/The                      | CUSIP: 14316J108<br>LEI: 529900NGGVF94UK6PG95 | Long             | EC               | CORP              | US        |   1744994 | NS      | $103146595.34 | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc                     | CenterPoint Energy Inc                     | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |   3369222 | NS      | $129175971.48 | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp                         | Expand Energy Corp                         | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |   1446030 | NS      | $159583870.80 | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp        | Cognizant Technology Solutions Corp        | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |   1016059 | NS      | $84332897.00  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                              | Coherent Corp                              | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |    414643 | NS      | $76530658.51  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System Inc                | Columbia Banking System Inc                | CUSIP: 197236102<br>LEI: 254900CTRJTQZ3BJ2V17 | Long             | EC               | CORP              | US        |   2896323 | NS      | $80952227.85  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The                         | Cooper Cos Inc/The                         | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |    973894 | NS      | $79820352.24  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial Inc                   | Corebridge Financial Inc                   | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |   3800939 | NS      | $114674329.63 | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                                | Corning Inc                                | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |   2392081 | NS      | $209450612.36 | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Darden Restaurants Inc                     | Darden Restaurants Inc                     | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |    438147 | NS      | $80627810.94  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc                        | Delta Air Lines Inc                        | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |   1998818 | NS      | $138717969.20 | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                     | Diamondback Energy Inc                     | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |    890053 | NS      | $133801667.49 | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours Inc                      | DuPont de Nemours Inc                      | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |   1891026 | NS      | $76019245.20  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp Inc                      | East West Bancorp Inc                      | CUSIP: 27579R104<br>LEI: 254900O4X656YXFOYB11 | Long             | EC               | CORP              | US        |   1110742 | NS      | $124836293.38 | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastman Chemical Co                        | Eastman Chemical Co                        | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |   1644149 | NS      | $104946030.67 | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                               | Entegris Inc                               | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |   1053089 | NS      | $88722748.25  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings Inc                     | Equitable Holdings Inc                     | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |   1479413 | NS      | $70494029.45  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc            | Equity LifeStyle Properties Inc            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |   2014276 | NS      | $122085268.36 | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                   | Essex Property Trust Inc                   | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |    428378 | NS      | $112097955.04 | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                                 | Evergy Inc                                 | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |   1150197 | NS      | $83377780.53  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                    | Extra Space Storage Inc                    | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1050541 | NS      | $136801449.02 | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp                                 | FedEx Corp                                 | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |    346581 | NS      | $100113387.66 | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises Inc                   | Ferguson Enterprises Inc                   | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |    410842 | NS      | $91465754.46  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services Inc | Fidelity National Information Services Inc | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |   1989003 | NS      | $132189139.38 | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                        | Fifth Third Bancorp                        | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |   2527390 | NS      | $118307125.90 | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corp                             | Flowserve Corp                             | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |   1502813 | NS      | $104265165.94 | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| GFL Environmental Inc                      | GFL Environmental Inc                      | CUSIP: 36168Q104<br>LEI: 894500E7NLBY9VZRT696 | Long             | EC               | CORP              | CA        |   2734038 | NS      | $117426932.10 | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc             | GE HealthCare Technologies Inc             | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |    967070 | NS      | $79319081.40  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc                       | Generac Holdings Inc                       | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |    394228 | NS      | $53760872.36  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                        | Global Payments Inc                        | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |   1457205 | NS      | $112787667.00 | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co               | Graphic Packaging Holding Co               | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   7014410 | NS      | $105637014.60 | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive Inc                     | Group 1 Automotive Inc                     | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |     88597 | NS      | $34845200.10  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group Inc/The            | Hanover Insurance Group Inc/The            | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |    724436 | NS      | $132405167.72 | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Insurance Group Inc/The           | Hartford Insurance Group Inc/The           | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |   1515971 | NS      | $208900803.80 | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Hershey Co/The                             | Hershey Co/The                             | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |    525064 | NS      | $95551146.72  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                                | Hubbell Inc                                | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |    223935 | NS      | $99451772.85  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                                 | Humana Inc                                 | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |    521560 | NS      | $133587162.80 | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| JB Hunt Transport Services Inc             | JB Hunt Transport Services Inc             | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |    500144 | NS      | $97197984.96  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyatt Hotels Corp                          | Hyatt Hotels Corp                          | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Long             | EC               | CORP              | US        |    840872 | NS      | $134808599.04 | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                                    | ITT Inc                                    | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |    458625 | NS      | $79576023.75  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc                         | Ingersoll Rand Inc                         | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |   1189546 | NS      | $94235834.12  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Inc                              | Ingredion Inc                              | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |    830247 | NS      | $91543034.22  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| International Flavors & Fragrances Inc     | International Flavors & Fragrances Inc     | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |   1359797 | NS      | $91636719.83  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co                     | International Paper Co                     | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |   2132233 | NS      | $83988657.87  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Jacobs Solutions Inc                       | Jacobs Solutions Inc                       | CUSIP: 46982L108<br>LEI: 254900E3KHXCC2C8K272 | Long             | EC               | CORP              | US        |   1006558 | NS      | $133328672.68 | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc                     | Jones Lang LaSalle Inc                     | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |    435705 | NS      | $146601661.35 | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                                    | KBR Inc                                    | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |   1801824 | NS      | $72433324.80  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc                                 | Kenvue Inc                                 | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |   7946041 | NS      | $137069207.25 | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp                                   | LKQ Corp                                   | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |   3476556 | NS      | $104991991.20 | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc                  | L3Harris Technologies Inc                  | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |    499717 | NS      | $146701919.69 | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings Inc                       | Labcorp Holdings Inc                       | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    424743 | NS      | $106559523.84 | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                        | Leidos Holdings Inc                        | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |    712020 | NS      | $128448408.00 | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corp                      | Lincoln National Corp                      | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |   2885418 | NS      | $128487663.54 | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corp                              | M&T Bank Corp                              | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |    819554 | NS      | $165123739.92 | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS Institutional Money Market Portfolio   | MFS Institutional Money Market Portfolio   | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | EC               | RF                | US        |  97220441 | NS      | $97239885.35  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel Inc                                 | Mattel Inc                                 | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |   3833620 | NS      | $76059020.80  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Medline Inc                                | Medline Inc                                | CUSIP: 58507V107<br>LEI: 984500FAN6J1P8566D43 | Long             | EC               | CORP              | US        |   1101686 | NS      | $46270812.00  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communities Inc      | Mid-America Apartment Communities Inc      | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |    772065 | NS      | $107247549.15 | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Mohawk Industries Inc                      | Mohawk Industries Inc                      | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |    780179 | NS      | $85273564.70  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Newell Brands Inc                          | Newell Brands Inc                          | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |   9256702 | NS      | $34434931.44  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc                    | Nexstar Media Group Inc                    | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |    333738 | NS      | $67765500.90  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordson Corp                               | Nordson Corp                               | CUSIP: 655663102<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | EC               | CORP              | US        |    402086 | NS      | $96673536.98  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Trust Corp                        | Northern Trust Corp                        | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |   1298525 | NS      | $177365529.75 | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp                                 | Nucor Corp                                 | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |    633500 | NS      | $103330185.00 | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp                          | Chord Energy Corp                          | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |    654895 | NS      | $60708766.50  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group Inc                          | Omnicom Group Inc                          | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |   1152406 | NS      | $93056784.50  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Organon & Co                               | Organon & Co                               | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |   3704989 | NS      | $26564771.13  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp                        | Otis Worldwide Corp                        | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |   1214072 | NS      | $106049189.20 | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                                  | PG&E Corp                                  | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |  11924782 | NS      | $191631246.74 | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                                 | PACCAR Inc                                 | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |    918886 | NS      | $100627205.86 | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Peabody Energy Corp                        | Peabody Energy Corp                        | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | EC               | CORP              | US        |   1685357 | NS      | $50055102.90  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Pegasystems Inc                            | Pegasystems Inc                            | CUSIP: 705573103<br>LEI: 549300FMCOKPL06FYN26 | Long             | EC               | CORP              | US        |    894529 | NS      | $53421271.88  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity Inc                                | Revvity Inc                                | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |    817065 | NS      | $79051038.75  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                     | Permian Resources Corp                     | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |   9746707 | NS      | $136746299.21 | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp                 | Pinnacle West Capital Corp                 | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |   1409864 | NS      | $125054936.80 | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Plains GP Holdings LP                      | Plains GP Holdings LP                      | CUSIP: 72651A207<br>LEI: 549300O56BSKRD8FAM12 | Long             | EC               | CORP              | US        |   5431835 | NS      | $103965321.90 | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc                  | Prosperity Bancshares Inc                  | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1089341 | NS      | $75284356.51  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Group Inc        | Public Service Enterprise Group Inc        | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |   2110217 | NS      | $169450425.10 | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup Inc                             | PulteGroup Inc                             | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1377087 | NS      | $161477221.62 | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Qnity Electronics Inc                      | Qnity Electronics Inc                      | CUSIP: 74743L100<br>LEI: 254900RSUG4J9TFFZX53 | Long             | EC               | CORP              | US        |    945513 | NS      | $77201136.45  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial Inc                | Raymond James Financial Inc                | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |   1199848 | NS      | $192683590.32 | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp                         | Regal Rexnord Corp                         | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |    816120 | NS      | $114517958.40 | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp                     | Regions Financial Corp                     | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |   5149278 | NS      | $139545433.80 | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc              | Rexford Industrial Realty Inc              | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |   2046786 | NS      | $79251553.92  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                            | Ross Stores Inc                            | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |    904255 | NS      | $162892495.70 | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp                                   | SLM Corp                                   | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   4172133 | NS      | $112897918.98 | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                                     | Sempra                                     | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |   1497892 | NS      | $132248884.68 | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions Inc                     | Skyworks Solutions Inc                     | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |    890684 | NS      | $56478272.44  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co                      | Southwest Airlines Co                      | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |   2576962 | NS      | $106505839.46 | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| StandardAero Inc                           | StandardAero Inc                           | CUSIP: 85423L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1193231 | NS      | $34221865.08  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc                 | Stanley Black & Decker Inc                 | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |   1259581 | NS      | $93561676.68  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                        | Synchrony Financial                        | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |   1266105 | NS      | $105631140.15 | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp                                 | Sysco Corp                                 | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |   1519226 | NS      | $111951763.94 | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG Inc                                    | TPG Inc                                    | CUSIP: 872657101<br>LEI: 549300NLO4R8MX77XJ02 | Long             | EC               | CORP              | US        |   1488700 | NS      | $95038608.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Talen Energy Corp                          | Talen Energy Corp                          | CUSIP: 87422Q109<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | EC               | CORP              | US        |     99794 | NS      | $37406782.96  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp                       | Targa Resources Corp                       | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |   1016114 | NS      | $187473033.00 | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                                 | TransUnion                                 | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |   1436364 | NS      | $123168213.00 | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods Holding Corp                      | US Foods Holding Corp                      | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |   2237033 | NS      | $168493325.56 | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services Inc              | Universal Health Services Inc              | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |    554296 | NS      | $120847613.92 | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp                         | Valero Energy Corp                         | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |    956683 | NS      | $155738425.57 | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                 | Ventas Inc                                 | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |   1694845 | NS      | $131147106.10 | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                        | VICI Properties Inc                        | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |   4566721 | NS      | $128416194.52 | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc                         | Voya Financial Inc                         | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |   1634883 | NS      | $121782434.67 | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey Inc                               | WP Carey Inc                               | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |   1986717 | NS      | $127865106.12 | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Westinghouse Air Brake Technologies Corp   | Westinghouse Air Brake Technologies Corp   | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |    800157 | NS      | $170793511.65 | 1.03%             |  |  |  | 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        |   9996375 | NS      | $9996375.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Zebra Technologies Corp                    | Zebra Technologies Corp                    | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |    348053 | NS      | $84514229.46  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegion plc                               | Allegion plc                               | CUSIP: 000000000<br>LEI: 984500560CAC2E6FB757 | Long             | EC               | CORP              | IE        |   1051360 | NS      | $167397539.20 | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor PLC                                  | Amcor PLC                                  | CUSIP: 000000000<br>LEI: 549300GSODGFCDQ3DI89 | Long             | EC               | CORP              | JE        |  10677925 | NS      | $89053894.50  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners PLC         | Coca-Cola Europacific Partners PLC         | CUSIP: 000000000<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |   1159625 | NS      | $105177987.50 | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                          | Everest Group Ltd                          | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |    301979 | NS      | $102476573.65 | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                                  | Aptiv PLC                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JE        |   2097393 | NS      | $159590633.37 | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| James Hardie Industries PLC                | James Hardie Industries PLC                | CUSIP: 000000000<br>LEI: 635400NSGXKTVOO7JU45 | Long             | EC               | CORP              | IE        |   3516598 | NS      | $72969408.50  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                                   | ICON PLC                                   | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |    448478 | NS      | $81721661.16  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Brightstar Lottery PLC                     | Brightstar Lottery PLC                     | CUSIP: 000000000<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | EC               | CORP              | GB        |   4390813 | NS      | $67969785.24  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC                         | nVent Electric PLC                         | CUSIP: 000000000<br>LEI: 254900LK60A9DK5W5N81 | Long             | EC               | CORP              | IE        |   1266555 | NS      | $129150613.35 | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PLC            | Seagate Technology Holdings PLC            | CUSIP: 000000000<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | IE        |    281578 | NS      | $77543765.42  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Pentair PLC                                | Pentair PLC                                | CUSIP: 000000000<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | IE        |   1369420 | NS      | $142611398.80 | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                                 | STERIS PLC                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |    466133 | NS      | $118174038.16 | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity PLC                        | TE Connectivity PLC                        | CUSIP: 000000000<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |    403717 | NS      | $91849654.67  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                             | TechnipFMC PLC                             | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |   2846475 | NS      | $126838926.00 | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Holdings Ltd                        | Viking Holdings Ltd                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |   1878233 | NS      | $134124618.53 | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson PLC                   | Willis Towers Watson PLC                   | CUSIP: 000000000<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |    572692 | NS      | $188186591.20 | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Check Point Software Technologies Ltd      | Check Point Software Technologies Ltd      | CUSIP: 000000000<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |    516182 | NS      | $95782731.92  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                      | NXP Semiconductors NV                      | CUSIP: 000000000<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |    497518 | NS      | $107991257.08 | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                                   | Flex Ltd                                   | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |   3596665 | NS      | $217310499.30 | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

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

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer