NPORT-EX 4 edgar.htm
Quarterly Report
June 30, 2020
MFS®  International New Discovery Fund
Portfolio of Investments
6/30/20 (unaudited)
The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.
Issuer     Shares/Par Value ($)
Common Stocks – 97.3%
Aerospace – 1.2%  
LISI Group (a)   623,118 $12,951,352
Meggitt PLC   873,322 3,184,718
MTU Aero Engines Holding AG   88,903 15,396,891
Saab AB, “B” (a)   676,839 16,895,189
Singapore Technologies Engineering Ltd.   12,378,800 29,375,738
        $77,803,888
Airlines – 0.7%  
Auckland International Airport Ltd.   2,773,766 $11,759,717
Enav S.p.A.   4,662,291 21,015,193
Grupo Aeroportuario del Pacifico S.A.B. de C.V.   598,741 4,305,246
Grupo Aeroportuario del Sureste S.A.B. de C.V., ADR (a)   45,460 5,104,703
        $42,184,859
Alcoholic Beverages – 0.8%  
Carlsberg Group   132,479 $17,509,399
China Resources Beer Holdings Co. Ltd.   1,800,000 10,032,901
Compania Cervecerias Unidas S.A., ADR   435,271 6,233,081
Davide Campari-Milano S.p.A.   1,907,227 16,070,772
        $49,846,153
Apparel Manufacturers – 0.6%  
Burberry Group PLC   574,654 $11,389,300
Coats Group PLC   6,528,849 4,530,342
Pacific Textiles Holdings Ltd.   38,809,000 18,785,619
        $34,705,261
Automotive – 3.3%  
Autoliv, Inc., SDR   72,648 $4,677,813
Cie Plastic Omnium S.A.   466,241 9,496,889
Daikyonishikawa Corp.   332,421 1,480,848
Hella KGaA Hueck & Co.   179,500 7,340,724
Hero MotoCorp Ltd.   883,260 29,939,870
Koito Manufacturing Co. Ltd.   645,800 25,957,601
Mahindra & Mahindra Ltd.   4,755,177 32,325,626
NGK Spark Plug Co. Ltd   837,800 11,980,210
PT United Tractors Tbk   23,996,500 27,801,335
Stanley Electric Co. Ltd.   871,131 20,936,188
USS Co. Ltd.   2,280,200 36,386,058
        $208,323,162
Biotechnology – 0.1%  
Abcam PLC   495,341 $8,181,648
Broadcasting – 0.2%  
4imprint Group PLC   185,750 $5,673,514
Nippon Television Holdings, Inc.   610,800 6,595,904
        $12,269,418
Brokerage & Asset Managers – 2.6%  
ASX Ltd.   329,604 $19,420,511
Daiwa Securities Group, Inc.   2,388,000 9,945,669
Euronext N.V.   122,615 12,294,897
Hargreaves Lansdown PLC   770,285 15,543,384
Japan Exchange Group, Inc.   145,300 3,353,439
Moscow Exchange MICEX-RTS PJSC   7,428,305 11,823,915
1
Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Common Stocks – continued
Brokerage & Asset Managers – continued  
Partners Group Holding AG   3,641 $3,302,629
Rathbone Brothers PLC   1,123,982 19,776,711
Schroders PLC   815,686 29,806,030
TMX Group Ltd.   395,197 39,074,317
        $164,341,502
Business Services – 7.0%  
AEON Delight Co. Ltd.   295,700 $8,193,882
Amadeus Fire AG (a)   165,357 20,509,957
AS ONE Corp.   179,200 19,550,600
Auto Trader Group PLC   4,705,162 30,689,995
Brenntag AG   93,618 4,919,260
Bunzl PLC   847,343 22,741,759
Cancom SE   421,440 22,348,626
Cerved Information Solutions S.p.A. (a)   4,672,479 33,570,746
Compass Group PLC   1,999,520 27,550,970
DKSH Holding Ltd.   45,850 2,942,298
Doshisha Co. Ltd.   141,800 2,141,938
Electrocomponents PLC   4,785,553 39,788,816
Intertek Group PLC   518,001 34,916,914
IPH Ltd.   6,889,186 35,466,535
Johnson Service Group PLC   1,680,493 2,407,138
Karnov Group AB   1,201,680 7,157,309
Meitec Corp.   371,900 17,875,999
Midland IC&I Ltd. (a)   21,556,500 261,443
Nomura Research Institute Ltd.   2,417,100 65,953,933
Omni Bridgeway Ltd.   4,693,704 15,450,627
SAN-AI OIL Co. Ltd.   1,516,100 13,648,059
Sodexo   58,068 3,927,412
Sohgo Security Services Co. Ltd.   255,700 11,888,067
        $443,902,283
Cable TV – 0.2%  
NOS, SGPS S.A.   2,643,538 $11,535,538
Chemicals – 0.7%  
IMCD Group N.V.   278,172 $26,152,196
KH Neochem Co. Ltd.   300,900 5,671,049
Orica Ltd.   1,258,415 14,450,712
        $46,273,957
Computer Software – 4.2%  
Fuji Soft, Inc.   339,500 $13,410,211
OBIC Business Consultants Co. Ltd.   91,900 4,876,934
OBIC Co. Ltd.   1,030,300 181,175,426
Oracle Corp.   255,700 30,122,751
Sage Group PLC   806,526 6,713,743
SCSK Corp.   335,600 16,286,585
Wisetech Global Ltd. (l)   931,680 12,441,128
        $265,026,778
Computer Software - Systems – 3.7%  
Alten S.A. (a)   292,238 $25,133,615
Amadeus IT Group S.A.   1,258,866 65,596,902
Comture Corp.   667,200 17,402,031
EMIS Group PLC   489,193 6,546,518
Globant S.A. (a)   64,970 9,735,754
Linx S.A.   2,860,400 13,328,651
NS Solutions Corp.   1,368,700 37,331,063
2
Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Common Stocks – continued
Computer Software - Systems – continued  
SimCorp A/S   61,945 $6,677,825
Softbrain Co. Ltd.   1,328,700 5,242,197
Temenos AG   102,669 15,945,689
Venture Corp. Ltd.   2,727,700 31,669,192
        $234,609,437
Conglomerates – 1.0%  
Ansell Ltd.   1,061,273 $26,878,511
DCC PLC   419,603 34,991,295
        $61,869,806
Construction – 2.6%  
Bellway PLC   610,687 $19,265,640
Breedon Group PLC (a)   11,503,353 11,117,968
Forterra PLC   9,212,614 22,944,854
Grupo Cementos de Chihuahua S.A.B. de C.V.   1,546,010 6,504,347
Ibstock PLC   4,572,917 10,188,010
Kingspan Group PLC   100,826 6,456,847
Marshalls PLC   879,639 6,714,158
PT Indocement Tunggal Prakarsa Tbk (a)   20,153,800 16,647,871
Rinnai Corp.   89,900 7,493,401
Somfy S.A.   110,711 11,169,666
Techtronic Industries Co. Ltd.   3,969,000 38,816,876
Toto Ltd.   145,700 5,583,965
        $162,903,603
Consumer Products – 2.8%  
Dabur India Ltd.   1,800,271 $11,162,023
Essity AB (a)   939,875 30,370,282
Kobayashi Pharmaceutical Co. Ltd.   273,600 24,021,560
Lion Corp.   1,082,500 25,935,888
Milbon Co. Ltd.   67,992 3,236,665
Mitsubishi Pencil Co. Ltd.   231,500 2,896,564
PZ Cussons PLC   364,404 834,433
T. Hasegawa Co. Ltd.   1,614,900 36,201,584
Takasago International Corp.   161,300 3,208,821
Uni-Charm Corp.   883,600 36,170,521
        $174,038,341
Consumer Services – 2.0%  
51job, Inc., ADR (a)   498,506 $35,787,746
Anima Holdings S.A. (a)   2,733,658 12,351,001
Asante, Inc.   170,200 2,307,690
Cogna Educacao S.A.   2,301,416 2,797,367
Heian Ceremony Service Co.   363,967 2,858,477
Kakaku.com, Inc.   289,200 7,309,347
MakeMyTrip Ltd. (a)   1,069,505 16,384,816
Moneysupermarket.com Group PLC   6,189,373 24,817,700
Park24 Co. Ltd.   358,200 6,120,667
Rakuten   119,300 1,047,431
Seek Ltd.   663,791 10,074,818
Webjet Ltd. (l)   2,591,938 5,938,472
        $127,795,532
Containers – 2.7%  
Fuji Seal International, Inc.   1,662,300 $32,283,798
Gerresheimer AG   476,986 43,996,879
Lock & Lock Co. Ltd. (a)   1,083,923 10,195,428
Mayr-Melnhof Karton AG   133,652 20,601,681
3
Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Common Stocks – continued
Containers – continued  
SIG Combibloc Group AG   2,237,340 $36,200,773
Verallia   175,016 5,004,246
Viscofan S.A.   391,044 25,525,534
        $173,808,339
Electrical Equipment – 2.6%  
Advantech Co. Ltd.   1,686,748 $16,855,870
Bharat Heavy Electricals Ltd.   14,453,222 6,885,715
Cembre S.p.A.   542,000 10,387,716
Legrand S.A.   604,998 45,962,346
LS Electric Co. Ltd.   663,084 26,677,498
OMRON Corp.   208,121 13,916,496
Sagami Rubber Industries Co. Ltd.   264,700 3,980,698
Spectris PLC   188,959 5,912,012
Voltronic Power Technology Corp.   1,142,612 32,762,791
        $163,341,142
Electronics – 3.4%  
Amano Corp.   246,720 $5,111,485
ASM International N.V.   165,773 25,618,133
ASM Pacific Technology Ltd.   2,183,400 23,076,659
Fukui Computer Holdings, Inc.   205,100 5,235,010
Halma PLC   875,550 24,985,109
Hirose Electric Co. Ltd.   87,800 9,611,447
Iriso Electronics Co. Ltd.   218,500 7,123,130
JEOL Ltd.   279,000 7,718,203
Kardex Holding AG   110,015 20,065,008
Melexis N.V.   211,416 16,032,997
Silicon Motion Technology Corp., ADR   488,986 23,847,847
Toshiba Tec Corp.   209,700 8,001,519
Tripod Technology Corp.   6,208,000 27,487,118
Zuken, Inc.   513,300 13,605,600
        $217,519,265
Energy - Independent – 0.4%  
Galp Energia SGPS S.A.   394,349 $4,561,211
Gran Tierra Energy, Inc. (a)(l)   2,243,645 760,221
Oil Search Ltd.   6,729,806 14,722,238
Seven Generations Energy Ltd. (a)   642,004 1,432,876
TORC Oil & Gas Ltd. (l)   693,989 869,020
        $22,345,566
Energy - Integrated – 0.1%  
Cairn Energy PLC (a)   2,411,454 $3,519,902
Engineering - Construction – 0.1%  
Babcock International Group PLC   1,393,969 $5,357,982
JGC Holdings Corp.   257,000 2,699,125
        $8,057,107
Entertainment – 0.9%  
CTS Eventim AG (a)   1,324,489 $55,058,346
Food & Beverages – 5.1%  
Arca Continental S.A.B. de C.V.   930,384 $4,078,235
ARIAKE JAPAN Co. Ltd.   143,600 9,132,050
AVI Ltd.   4,871,301 19,802,425
Bakkafrost P/f (a)   599,801 37,731,956
BRF S.A. (a)   759,900 2,970,794
4
Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Common Stocks – continued
Food & Beverages – continued  
Britvic PLC   655,513 $6,254,295
Cranswick PLC   246,585 11,054,563
Ezaki Glico Co. Ltd.   454,000 21,690,491
Greencore Group PLC   1,183,806 1,845,302
Gruma S.A.B. de C.V.   640,309 6,910,250
Kato Sangyo Co. Ltd.   342,200 11,187,460
Kerry Group PLC   206,732 25,618,653
Kikkoman Corp.   121,900 5,859,328
Morinaga & Co. Ltd.   538,300 20,926,442
Orion Corp.   259,439 29,120,719
Ridley Corp. NPV (h)   21,241,987 10,627,844
S Foods, Inc.   841,000 20,500,227
Shenguan Holdings Group Ltd.   13,203,505 488,868
Tata Consumer Products Ltd.   5,097,874 26,159,910
Tate & Lyle PLC   439,814 3,638,243
Tingyi (Cayman Islands) Holdings Corp.   17,074,000 26,479,515
Universal Robina Corp.   8,661,400 22,598,736
        $324,676,306
Food & Drug Stores – 1.6%  
Cia Brasileira de Distribuicao   787,400 $10,277,423
Cosmos Pharmaceutical Corp.   59,200 9,068,470
Dairy Farm International Holdings Ltd.   6,359,109 29,569,857
Japan Meat Co. Ltd.   253,700 7,072,350
Matsumotokiyoshi Holdings Co. Ltd.   90,800 3,292,262
San-A Co. Ltd.   87,700 3,354,489
Spencer's Retail Ltd. (a)   723,473 842,741
Sundrug Co. Ltd.   1,136,000 37,559,805
        $101,037,397
Forest & Paper Products – 0.3%  
Suzano S.A. (a)   1,227,100 $8,301,614
Valmet Oyj   516,500 13,480,085
        $21,781,699
Furniture & Appliances – 0.7%  
Howden Joinery Group PLC   2,611,233 $17,886,280
SEB S.A.   154,260 25,494,064
Zojirushi Corp.   263,900 3,328,843
        $46,709,187
Gaming & Lodging – 1.5%  
Flutter Entertainment PLC   339,931 $44,627,041
Genting Berhad   13,067,100 12,605,055
Shangri-La Asia Ltd.   29,944,000 25,844,077
Tabcorp Holdings Ltd.   5,286,648 12,331,308
        $95,407,481
General Merchandise – 1.1%  
B&M European Value Retail S.A.   1,461,627 $7,199,131
Dollarama, Inc.   945,218 31,442,284
Lojas Renner S.A.   1,492,010 11,468,347
Magazine Luiza S.A.   942,400 12,416,646
Seria Co. Ltd.   183,200 6,506,802
        $69,033,210
Health Maintenance Organizations – 0.1%  
Odontoprev S.A.   2,852,900 $7,465,248
5
Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Common Stocks – continued
Insurance – 1.9%  
Admiral Group PLC   212,870 $6,064,008
AUB Group Ltd.   2,453,836 24,892,866
Hiscox Ltd.   2,112,798 20,645,296
Samsung Fire & Marine Insurance Co. Ltd.   200,389 29,320,750
Sony Financial Holdings, Inc.   876,900 21,074,837
Steadfast Group Ltd.   7,053,736 16,355,751
        $118,353,508
Internet – 1.7%  
Demae-Can Co. Ltd. (l)   1,061,500 $15,527,375
PChome Online, Inc. (a)   2,549,504 10,251,980
Proto Corp.   1,137,400 10,586,590
Rightmove PLC   4,506,848 30,491,017
Scout24 AG   507,679 39,384,557
        $106,241,519
Leisure & Toys – 0.4%  
Kawai Musical Instruments Manufacturing Co. Ltd.   119,800 $3,082,236
Thule Group AB   864,182 21,812,754
        $24,894,990
Machinery & Tools – 4.4%  
Aalberts Industries N.V.   736,340 $24,148,245
Azbil Corp.   438,400 13,337,754
Carel Industries S.p.A.   203,591 3,737,522
Doosan Bobcat, Inc.   576,446 12,778,858
Fujitec Co. Ltd.   1,247,100 22,857,244
Fujitsu General Ltd.   248,000 5,069,099
Fukushima Galilei Co. Ltd.   362,600 11,468,201
GEA Group AG   1,616,755 51,132,343
Haitian International Holdings Ltd.   13,384,000 27,180,719
MISUMI Group, Inc.   225,900 5,636,255
MonotaRO Co. Ltd.   389,300 15,575,605
Nabtesco Corp.   482,500 14,835,842
Nissei ASB Machine Co. Ltd.   151,400 4,500,986
NOHMI BOSAI Ltd.   582,000 11,270,776
Obara Group, Inc.   128,500 3,891,595
Rational AG   3,140 1,758,250
Rotork PLC   1,720,822 5,970,357
Shima Seiki Manufacturing Ltd.   191,900 2,729,876
Spirax-Sarco Engineering PLC   150,910 18,654,380
T.K. Corp.   828,332 5,080,209
THK Co. Ltd.   133,700 3,298,697
VAT Group AG   75,145 13,721,130
        $278,633,943
Medical & Health Technology & Services – 1.0%  
BML, Inc.   452,600 $11,829,931
Eurofins Scientific SE   3,712 2,329,603
Hapvida Participacoes e Investimentos S.A.   774,900 8,858,891
Hogy Medical Co. Ltd.   79,600 2,447,530
ICON PLC (a)   31,523 5,310,365
Medipal Holdings Corp.   218,700 4,204,873
Ramsay Health Care Ltd.   357,306 16,469,526
Selcuk Ecza Deposu Ticaret ve Sanayi A.S.   2,590,718 3,322,742
Sonic Healthcare Ltd.   484,031 10,218,409
        $64,991,870
6
Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Common Stocks – continued
Medical Equipment – 2.9%  
Demant A.S. (a)   271,692 $7,164,558
Eiken Chemical Co. Ltd.   753,900 12,037,264
Fukuda Denshi Co. Ltd.   156,100 10,437,990
Nakanishi, Inc.   2,379,400 30,983,435
Nihon Kohden Corp.   521,600 17,511,461
Shimadzu Corp.   624,700 16,593,097
Smith & Nephew PLC   1,794,613 33,477,879
Sonova Holding AG (a)   136,310 27,213,084
Straumann Holding AG   1,171 1,006,063
Terumo Corp.   733,200 27,711,870
        $184,136,701
Metals & Mining – 0.4%  
Iluka Resources Ltd.   2,666,873 $15,782,918
MOIL Ltd.   6,090,545 11,357,697
        $27,140,615
Natural Gas - Distribution – 0.5%  
Italgas S.p.A.   5,939,723 $34,500,852
Network & Telecom – 0.4%  
VTech Holdings Ltd.   3,825,465 $22,975,988
Oil Services – 0.0%  
TechnipFMC PLC   134,838 $928,031
Other Banks & Diversified Financials – 3.1%  
AEON Financial Service Co. Ltd.   2,710,200 $29,492,799
AEON Thana Sinsap Public Co. Ltd.   2,759,200 9,641,466
Bancolombia S.A., ADR   188,347 4,955,410
Bank of Kyoto Ltd.   193,400 6,842,213
Chiba Bank Ltd.   2,538,451 11,942,886
Credicorp Ltd.   48,640 6,501,709
E.Sun Financial Holding Co. Ltd.   31,796,860 29,878,677
Federal Bank Ltd.   13,856,823 9,359,773
FinecoBank S.p.A. (a)   1,071,097 14,458,580
Grupo Financiero Inbursa S.A. de C.V. (a)   2,689,101 1,866,091
Julius Baer Group Ltd.   391,642 16,389,894
Jyske Bank (a)   338,988 9,940,922
Metropolitan Bank & Trust Co.   27,226,417 20,218,313
Shizuoka Bank Ltd.   1,025,000 6,578,606
Shriram Transport Finance Co. Ltd.   1,931,725 17,819,160
        $195,886,499
Pharmaceuticals – 2.3%  
Daito Pharmaceutical Co. Ltd.   231,300 $8,590,230
Genomma Lab Internacional S.A., “B” (a)(l)   8,507,862 8,687,573
Hypermarcas S.A.   1,704,475 10,437,288
Kalbe Farma Tbk PT   333,929,300 34,129,281
Santen Pharmaceutical Co. Ltd.   2,042,300 37,507,580
Suzuken Co. Ltd./Aichi Japan   339,200 12,628,701
Virbac S.A. (a)   108,387 23,745,695
Yunnan Baiyao Group Co. Ltd.   646,117 8,568,190
        $144,294,538
7
Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Common Stocks – continued
Pollution Control – 0.6%  
Bingo Industries Ltd.   4,918,421 $7,329,753
Daiseki Co. Ltd.   1,127,500 29,969,206
        $37,298,959
Precious Metals & Minerals – 0.6%  
Agnico-Eagle Mines Ltd.   620,986 $39,763,047
Printing & Publishing – 0.4%  
China Literature Ltd. (a)   1,547,400 $10,421,815
Wolters Kluwer N.V.   201,689 15,753,065
        $26,174,880
Railroad & Shipping – 0.6%  
DFDS A.S. (a)   181,325 $5,593,531
Rumo S.A. (a)   2,324,700 9,614,112
Sankyu, Inc.   488,600 18,326,742
Senko Group Holdings Co. Ltd.   657,300 4,876,104
        $38,410,489
Real Estate – 4.8%  
Ascendas India Trust, REIT   12,556,800 $12,180,132
Big Yellow Group PLC, REIT   1,051,241 13,078,031
City Developments Ltd.   4,876,000 29,544,942
Concentradora Fibra Danhos S.A. de C.V., REIT   4,091,589 3,887,851
Deutsche Wohnen SE   382,608 17,172,911
Embassy Office Parks REIT   3,371,200 15,218,472
Hibernia PLC, REIT   4,300,372 5,411,244
Kenedix, Inc.   1,114,900 5,482,861
LEG Immobilien AG (a)   970,904 123,261,604
Midland Holdings Ltd. (a)(h)   43,113,000 4,450,087
Multiplan Empreendimentos Imobiliarios S.A.   3,219,285 12,135,735
Prologis Peroperty Mexico S.A. de C.V., REIT   2,375,819 4,249,382
Shaftesbury PLC, REIT   1,183,196 7,733,668
TAG Immobilien AG   639,688 15,250,590
Unite Group PLC, REIT   3,225,537 37,569,571
        $306,627,081
Restaurants – 1.2%  
Cafe de Coral Holdings Ltd.   16,092,000 $33,451,631
Greggs PLC   2,058,957 41,330,309
        $74,781,940
Specialty Chemicals – 6.5%  
Air Water, Inc.   783,300 $11,034,029
Croda International PLC   1,607,039 104,661,784
Essentra PLC   7,538,373 27,283,546
Japan Pure Chemical Co. Ltd.   41,700 1,002,190
Kansai Paint Co. Ltd.   1,037,000 21,830,063
Nihon Parkerizing Co. Ltd.   1,049,600 10,508,151
Nitto Denko Corp.   144,400 8,157,814
NOF Corp.   320,000 11,054,411
Orbia Advance Corp. S.A.B. de C.V.   5,840,795 8,634,959
PT Astra Agro Lestari Tbk   15,352,000 8,903,079
PTT Global Chemical PLC   6,126,700 9,167,997
Sika AG   234,446 45,122,411
SK KAKEN Co. Ltd.   77,800 26,695,902
Symrise AG   961,823 111,842,943
Taisei Lamick Co. Ltd.   219,800 5,653,869
8
Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Common Stocks – continued
Specialty Chemicals – continued  
Tikkurila Oyj   131,380 $1,827,355
        $413,380,503
Specialty Stores – 2.5%  
ABC-Mart, Inc.   192,300 $11,237,907
Esprit Holdings Ltd. (a)   6,185,199 676,011
Just Eat Takeaway.com (a)   89,832 9,396,861
Just Eat Takeaway.com N.V. (a)   944,491 98,430,943
Ryohin Keikaku Co. Ltd.   1,407,200 19,874,786
Shimamura Co. Ltd.   52,800 3,569,715
Zozo, Inc.   812,000 18,018,541
        $161,204,764
Telecommunications - Wireless – 1.6%  
Cellnex Telecom S.A.   1,625,905 $99,080,440
Telephone Services – 0.7%  
Bezeq - The Israel Telecommunication Corp. Ltd. (a)   3,067,840 $2,780,934
Hellenic Telecommunications Organization S.A.   2,120,009 28,605,780
Infrastrutture Wireless Italiane S.p.A. (n)   1,249,006 12,517,064
        $43,903,778
Tobacco – 0.7%  
Swedish Match AB   586,372 $41,217,581
Trucking – 2.8%  
Freightways Ltd.   1,868,239 $8,709,446
Hamakyorex Co. Ltd.   114,900 3,304,140
Kintetsu World Express, Inc.   277,200 4,782,807
Mainfreight Ltd.   262,213 6,666,718
Seino Holdings Co. Ltd.   3,715,600 48,520,454
SG Holdings Co. Ltd.   1,907,900 62,197,805
Trancom Co. Ltd.   95,100 6,105,633
Yamato Holdings Co. Ltd.   1,778,200 38,371,901
        $178,658,904
Utilities - Electric Power – 0.8%  
CESC Ltd.   3,095,481 $25,500,577
Energisa S.A., IEU   777,400 7,004,763
Equatorial Energia S.A.   1,668,800 7,125,565
Transmissora Alianca de Energia Eletrica S.A., IEU   1,779,812 9,196,726
        $48,827,631
Utilities - Water – 0.2%  
Aguas Andinas S.A., “A”   20,990,755 $7,109,360
Companhia de Saneamento Basico do Estado de Sao Paulo   485,700 5,153,434
        $12,262,794
Total Common Stocks   $6,159,943,206
Preferred Stocks – 0.2%
Metals & Mining – 0.1%        
Gerdau S.A.   1,786,200 $5,258,649
Specialty Chemicals – 0.1%        
Fuchs Petrolub SE   226,635 $9,100,277
Total Preferred Stocks   $14,358,926
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Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Investment Companies (h) – 2.0%
Money Market Funds – 2.0%  
MFS Institutional Money Market Portfolio, 0.17% (v)     125,238,819 $125,251,343
Collateral for Securities Loaned – 0.0%
JPMorgan U.S. Government Money Market Fund, 0.15% (j)     286,000 $286,000
 
Other Assets, Less Liabilities – 0.5%   31,228,336
Net Assets – 100.0% $6,331,067,811
(a) Non-income producing security.      
(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 $140,329,274 and $6,159,510,201, respectively.      
(j) The rate quoted is the annualized seven-day yield of the fund at period end.      
(l) A portion of this security is on loan. See Note 2 for additional information.      
(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $12,517,064, representing 0.2% of net assets.      
(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.      
The following abbreviations are used in this report and are defined:
ADR American Depositary Receipt
IEU International Equity Unit
REIT Real Estate Investment Trust
SDR Swedish Depository Receipt
See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.
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Supplemental Information
6/30/20 (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
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. 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, and other market data. 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.
The Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund’s investments (including any fair valuation) to the adviser pursuant to valuation policies and procedures approved by the Board. If the adviser determines that reliable market quotations are not readily available, investments are valued at fair value as determined in good faith by the adviser in accordance with such procedures under the oversight of the Board of Trustees. Under the fund’s valuation policies and procedures, market quotations are not considered to be readily available for most types of debt instruments and floating rate loans and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services. In addition, investments may be valued at fair value if the adviser determines that an 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 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 June 30, 2020 in valuing the fund's assets or liabilities:
Financial Instruments Level 1 Level 2 Level 3 Total
Equity Securities:        
Japan $1,368,234,550 $414,988,668 $— $1,783,223,218
United Kingdom 807,644,677 27,283,546 — 834,928,223
Germany 538,474,158 — — 538,474,158
Australia 208,976,503 59,875,424 — 268,851,927
India 88,762,773 114,193,607 — 202,956,380
Netherlands 199,499,443 — — 199,499,443
Hong Kong 96,074,251 101,833,997 — 197,908,248
Spain 190,202,876 — — 190,202,876
Switzerland 181,908,979 — — 181,908,979
Other Countries 1,465,193,969 311,154,711 — 1,776,348,680
Mutual Funds 125,537,343 — — 125,537,343
Total $5,270,509,522 $1,029,329,953 $— $6,299,839,475
For further information regarding security characteristics, see the Portfolio of Investments.
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Supplemental Information (unaudited) – continued
(2) Securities Lending Collateral
At June 30, 2020, the value of securities loaned was $11,429,738. These loans were collateralized by cash of $286,000 and U.S. Treasury Obligations (held by the lending agent) of $12,053,832.
(3) Investments in Affiliated Issuers
An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the following were affiliated issuers:
Affiliated Issuers Beginning
Value 		Purchases Sales
Proceeds 		Realized
Gain
(Loss) 		Change in
Unrealized
Appreciation or
Depreciation 		Ending
Value
MFS Institutional Money Market Portfolio $408,940,384 $673,588,768 $957,319,262 $65,243 $(23,790) $125,251,343
Midland Holdings Ltd. 5,372,769 — — — (922,682) 4,450,087
Ridley Corp. NPV 7,599,882 5,625,368 — — (2,597,406) 10,627,844
  $421,913,035 $679,214,136 $957,319,262 $65,243 $(3,543,878) $140,329,274
Affiliated Issuers Dividend
Income 		Capital Gain
Distributions
MFS Institutional Money Market Portfolio $2,710,752 $—
Midland Holdings Ltd. — —
Ridley Corp. NPV 371,469 —
  $3,082,221 $—
(4) Impacts of COVID-19
The pandemic related to the global spread of novel coronavirus disease (COVID-19), which was first detected in December 2019, has resulted in significant disruptions to global business activity and the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the securities and commodities markets in general. This pandemic, the full effects of which are still unknown, has resulted in substantial market volatility and may have adversely impacted the prices and liquidity of the fund's investments and the fund's performance.
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