NPORT-EX 4 edgar.htm NPORT PART F
Quarterly Report
December 31, 2024
MFS®  New York
Municipal Bond Fund
MNY-Q3
Portfolio of Investments
12/31/24 (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 ($)
Municipal Bonds – 98.5%
Airport Revenue – 8.5%
New York Transportation Development Corp., Special Facilities (LaGuardia Airport Terminal B Redevelopment Project), “A”, 5%, 7/01/2034    $ 900,000 $901,012
New York Transportation Development Corp., Special Facilities Rev. (JFK Airport Terminal 6 Redevelopment Project), “A”, 5.5%, 12/31/2060      1,500,000 1,582,458
New York Transportation Development Corp., Special Facilities Rev. (JFK Airport Terminal 6 Redevelopment Project), “A”, AGM, 5.25%, 12/31/2054      2,000,000 2,121,158
New York Transportation Development Corp., Special Facilities Rev. (JFK Airport Terminal 6 Redevelopment Project), Capital Appreciation, “B”, AGM, 0%, 12/31/2054      1,500,000 949,740
New York Transportation Development Corp., Special Facilities Rev. (John F. Kennedy International Airport New Terminal One Project), 6%, 6/30/2054      1,000,000 1,069,659
New York Transportation Development Corp., Special Facilities Rev. (John F. Kennedy International Airport New Terminal One Project), AGM, 5.125%, 6/30/2060      2,000,000 2,053,718
New York Transportation Development Corp., Special Facilities Rev. (John F. Kennedy International Airport New Terminal One Project), AGM, 5.25%, 6/30/2060      1,810,000 1,886,630
New York Transportation Development Corp., Special Facilities Rev. (LaGuardia Airport, Terminal B Redevelopment), “A”, AGM, 4%, 7/01/2031      2,000,000 1,979,445
New York Transportation Development Corp., Special Facilities Rev. (Terminal 4 John F. Kennedy International Airport Project), “A”, 4%, 12/01/2040      1,500,000 1,413,733
Niagara, NY, Frontier Transportation Authority Rev. (Buffalo-Niagara International Airport), “A”, 5%, 4/01/2038      750,000 764,057
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “B”, 5%, 12/01/2044      90,000 90,049
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “C”, 5%, 12/01/2039      80,000 80,025
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “C”, 5%, 12/01/2044      130,000 130,034
        $15,021,718
General Obligations - General Purpose – 3.7%
Bridgeview, IL, Stadium and Redevelopment Projects, Taxable, AAC, 5.14%, 12/01/2036    $ 615,000 $550,164
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 5.625%, 7/01/2029      118,007 125,705
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 5.75%, 7/01/2031      114,620 125,348
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2033      108,689 107,037
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2035      184,514 179,872
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2037      83,850 80,859
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2041      114,004 107,793
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2046      354,563 329,261
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Capital Appreciation, “A”, 0%, 7/01/2033      139,873 94,621
Long Beach, NY, General Obligation, “B”, BAM, 4.625%, 7/15/2052      2,000,000 2,034,895
New York, NY, “B-1”, 3%, 10/01/2044      1,825,000 1,459,260
New York, NY, “J”, FGIC, 5.5%, 2/15/2026      5,000 5,009
State of Illinois, General Obligation, 5.5%, 5/01/2039      215,000 231,566
State of Illinois, General Obligation, 5.75%, 5/01/2045      200,000 216,331
Yonkers, NY, General Obligation, “F”, BAM, 5%, 11/15/2042      750,000 814,336
        $6,462,057
Healthcare Revenue - Hospitals – 12.1%
Buffalo & Erie County, NY, Industrial Land Development Corp. Rev. (Catholic Health System, Inc. Project), 5%, 7/01/2026    $ 450,000 $449,251
Buffalo & Erie County, NY, Industrial Land Development Corp. Rev. (Catholic Health System, Inc. Project), 5%, 7/01/2027      300,000 299,470
Buffalo & Erie County, NY, Industrial Land Development Corp. Rev. (Catholic Health System, Inc. Project), 5%, 7/01/2029      590,000 587,070
California Health Facilities Financing Authority Rev. (Cedars-Sinai Health System), “A”, 5%, 8/15/2051      2,000,000 2,130,181
Dutchess County, NY, Local Development Corp. Rev. (Health Quest Systems, Inc. Project), 4%, 7/01/2041      1,605,000 1,504,469
Jefferson County, NY, Civic Development Corp. Rev. (Samaritan Medical Center), “A”, 5%, 11/01/2037      2,000,000 1,960,119
Monroe County, NY, Industrial Development Corp. Rev. (Rochester General Hospital Project), 5%, 12/01/2046      2,000,000 2,013,693
New York Dormitory Authority Rev. (Montefiore Obligated Group), “A”, 4%, 9/01/2050      1,500,000 1,345,323
New York Dormitory Authority Rev. (Norwell Health Obligated Group), “A”, 4.25%, 5/01/2052      3,000,000 2,895,380
New York Dormitory Authority, White Plains Hospital Obligated Group Rev., AGM, 5.25%, 10/01/2049      1,750,000 1,846,529
New York Dormitory Authority, White Plains Hospital Obligated Group Rev., AGM, 5.5%, 10/01/2054      1,750,000 1,930,304
Westchester County, NY, Health Care Corp. Rev., “B”, 6%, 11/01/2030      115,000 115,159
Westchester County, NY, Local Development Corp. Rev. (New York Blood Center Project), 5%, 7/01/2038      1,000,000 1,073,816
1
Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Municipal Bonds – continued
Healthcare Revenue - Hospitals – continued
Westchester County, NY, Local Development Corp. Rev. (Westchester Medical Center Obligated Group Project), AGM, 5%, 11/01/2051    $ 1,500,000 $1,568,916
Westchester County, NY, Local Development Corp. Rev. (Westchester Medical Center Obligated Group Project), AGM, 5.75%, 11/01/2053      1,500,000 1,654,433
        $21,374,113
Healthcare Revenue - Long Term Care – 2.6%
Brookhaven, NY, Local Development Corp. Rev. (Active Retirement Community, Inc. d/b/a/ Jefferson's Ferry Project), 5.25%, 11/01/2036    $ 1,000,000 $1,023,382
Brookhaven, NY, Local Development Corp. Rev. (Active Retirement Community, Inc. d/b/a/ Jefferson's Ferry Project), “A”, 4%, 11/01/2045      2,000,000 1,861,009
Buffalo & Erie County, NY, Industrial Land Development Corp. Rev. (Orchard Park CCRC, Inc. Project), 5%, 11/15/2037      750,000 753,569
Tompkins County, NY, Development Corp. Continuing Care Retirement Community Rev. (Kendal at Ithaca, Inc. Project), “A”, 5%, 7/01/2044      915,000 915,367
        $4,553,327
Industrial Revenue - Airlines – 5.5%
New York Transportation Development Corp., Special Facilities Rev. (American Airlines, Inc. John F. Kennedy International Airport Project), 3%, 8/01/2031    $ 1,500,000 $1,397,892
New York Transportation Development Corp., Special Facilities Rev. (American Airlines, Inc. John F. Kennedy International Airport Project), 5%, 8/01/2031      1,000,000 1,001,246
New York Transportation Development Corp., Special Facilities Rev. (American Airlines, Inc. John F. Kennedy International Airport Project), 5.375%, 8/01/2036      1,035,000 1,083,234
New York Transportation Development Corp., Special Facilities Rev. (Delta Airlines, Inc. LaGuardia Airport Terminals C&D Redevelopment Project), 5%, 1/01/2034      1,000,000 1,023,053
New York Transportation Development Corp., Special Facilities Rev. (Delta Airlines, Inc. LaGuardia Airport Terminals C&D Redevelopment Project), 5.625%, 4/01/2040      3,500,000 3,717,881
New York Transportation Development Corp., Special Facilities Rev. (Delta Airlines, Inc. LaGuardia Airport Terminals C&D Redevelopment Project), 4.375%, 10/01/2045      1,500,000 1,428,213
        $9,651,519
Industrial Revenue - Other – 0.2%
Port Beaumont, TX, Navigation District, Dock & Wharf Facility Rev. (Jefferson Gulf Coast Energy Project), “A”, 3.625%, 1/01/2035 (n)   $ 200,000 $182,436
Port Beaumont, TX, Navigation District, Dock & Wharf Facility Rev. (Jefferson Gulf Coast Energy Project), “A”, 2.875%, 1/01/2041 (n)     255,000 199,779
        $382,215
Industrial Revenue - Paper – 0.1%
Build NYC Resource Corp. Solid Waste Disposal Rev. (Pratt Paper, Inc. Project), 4.5%, 1/01/2025 (n)   $ 150,000 $150,000
Miscellaneous Revenue - Other – 5.3%
Battery Park, NY, Authority Senior Rev., “A”, 5%, 11/01/2053    $ 2,000,000 $2,154,492
Matching Fund Special Purpose Securitization Corp., “A”, 5%, 10/01/2026      90,000 91,914
New York City, NY, Convention Center Development Corp., Capital Appreciation, “B”, AGM, 0%, 11/15/2043      680,000 283,367
New York Liberty Development Corp., Liberty Rev. (3 World Trade Center Project), “1”, 5%, 11/15/2044 (n)     1,940,000 1,941,104
New York Liberty Development Corp., Liberty Rev. (3 World Trade Center Project), “2”, 5.375%, 11/15/2040 (n)     1,500,000 1,501,242
New York, NY, Industrial Development Agency, Airport Facilities Rev. (Transportation Infrastructure Properties LLC), 5%, 7/01/2028      2,095,000 2,106,136
Syracuse, NY, Industrial Development Agency PILOT Rev. (Carousel Center Project), “A”, 5%, 1/01/2034      750,000 569,425
Syracuse, NY, Industrial Development Agency PILOT Rev. (Carousel Center Project), “A”, 5%, 1/01/2036      1,000,000 756,016
        $9,403,696
Multi-Family Housing Revenue – 17.8%
Erie County, NY, Industrial Development Agency Multi-Family (Westchester Park Preservation LP Project), FNMA, 4.25%, 2/01/2041    $ 1,980,000 $1,948,568
Monroe County, NY, Industrial Development Agency Multi-Family Mortgage, 4.84%, 11/01/2040      620,155 641,370
Monroe County, NY, Industrial Development Agency Multi-Family Mortgage (Andrews Terrace Community Partners LP Project), “A”, FNMA, 4.72%, 1/01/2044      2,000,000 2,021,538
National Finance Authority, NH, Municipal Certificates, “1-A”, 4.375%, 9/20/2036      642,224 637,784
2
Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Municipal Bonds – continued
Multi-Family Housing Revenue – continued
New York Housing Development Corp., Multi-Family Housing Rev., “D1”, 4%, 12/15/2031    $ 1,000,000 $1,015,371
New York Housing Finance Agency 320 West 38th Street Housing Rev., “A”, FHLMC, 3.57%, 5/01/2042 (Put Date 11/01/2031)      1,500,000 1,488,011
New York Housing Finance Agency Affordable Housing Rev. (Climate Bond), “B”, 3.7%, 11/01/2038      340,000 320,298
New York Housing Finance Agency Affordable Housing Rev., “A-2”, 2.5%, 11/01/2060 (Put Date 5/01/2027)      1,885,000 1,828,639
New York Housing Finance Agency Affordable Housing Rev., “F-1”, 5.1%, 11/01/2052      1,000,000 1,028,200
New York Housing Finance Agency Affordable Housing Rev., “F-1”, 5.15%, 11/01/2057      1,200,000 1,234,608
New York Housing Finance Agency Affordable Housing Rev., “G-1”, HUD Section 8, 4.625%, 11/01/2042      350,000 351,515
New York Housing Finance Agency Affordable Housing Rev., “G-1”, HUD Section 8, 4.8%, 11/01/2047      1,000,000 1,011,076
New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development Bonds), “D-2”, 4.45%, 11/01/2049      1,000,000 987,767
New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development Bonds), “F-1”, 4.6%, 11/01/2042      1,000,000 1,017,876
New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development Bonds), “F-1”, 4.75%, 11/01/2047      500,000 506,367
New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development Bonds), “F-1”, 4.85%, 11/01/2052      500,000 506,225
New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development Bonds), “D”, 4.3%, 11/01/2063 (Put Date 11/01/2028)      500,000 509,892
New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development Bonds), “G”, FHA, 2.45%, 11/01/2045      2,500,000 1,754,110
New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Neighborhood Bonds), “A-3-A”, 3.8%, 11/01/2039      1,730,000 1,643,654
New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Neighborhood Bonds), “C-1-A”, 3.95%, 11/01/2048      2,610,000 2,376,835
New York, NY, Housing Development Corp., Multi-Family Housing Rev., “C-1”, 4.25%, 11/01/2052      2,500,000 2,414,900
New York, NY, Housing Development Corp., Multi-Family Housing Rev., “D-1”, 4.5%, 11/01/2054      500,000 492,564
New York, NY, Housing Development Corp., Multi-Family Housing Rev., “F-1”, 2.25%, 11/01/2041      1,535,000 1,104,953
New York, NY, Housing Development Corp., Multi-Family Mortgage Rev. (8 Spruce Street), “F”, 5.25%, 12/15/2031 (n)     500,000 510,963
Riverhead, NY, IDA Economic Job Development Corp. Multi-Family (River Pointe Apartments Project), FNMA, 4.5%, 2/01/2041      1,990,199 2,008,936
Westchester County, NY, Industrial Development Agency, Multi-Family Housing Rev. (Armory Plaza Housing LP Project), 4.3%, 6/01/2046 (Put Date 5/01/2041)      1,990,000 1,946,770
        $31,308,790
Port Revenue – 2.2%
New York Liberty Development Corp., Liberty Refunding Rev. (1 World Trade Center Project), 2.75%, 2/15/2044    $ 2,000,000 $1,506,360
Port Authority of NY & NJ (221st Series), 4%, 7/15/2055      2,485,000 2,283,207
        $3,789,567
Sales & Excise Tax Revenue – 3.7%
Guam Government Business Privilege Tax Refunding, “F”, 4%, 1/01/2042    $ 185,000 $175,790
Guam Government Business Privilege Tax Rev., “D”, 5%, 11/15/2031      750,000 756,539
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-2”, 4.536%, 7/01/2053      4,000 3,899
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “A-1”, 4.55%, 7/01/2040      63,000 63,015
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “A-1”, 4.75%, 7/01/2053      200,000 197,014
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “A-1”, 5%, 7/01/2058      1,830,000 1,823,157
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “A-2”, 4.329%, 7/01/2040      451,000 444,819
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “A-2”, 4.329%, 7/01/2040      210,000 207,585
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “A-2”, 4.784%, 7/01/2058      635,000 623,637
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “A-1”, 0%, 7/01/2029      17,000 14,264
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “A-1”, 0%, 7/01/2031      942,000 724,044
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “A-1”, 0%, 7/01/2033      904,000 636,521
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “A-1”, 0%, 7/01/2046      416,000 133,820
Wisconsin Public Finance Authority Limited Obligation Grant Rev. (American Dream at Meadowlands Project), “A”, 6.25%, 8/01/2027 (a)(d)(n)     545,000 527,287
Wisconsin Public Finance Authority Limited Obligation Grant Rev., Taxable (American Dream at Meadowlands Project), ”A“, 5.625%, 8/01/2024 (a)(d)(n)     255,000 246,713
        $6,578,104
3
Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Municipal Bonds – continued
Secondary Schools – 5.9%
Buffalo & Erie County, NY, Industrial Land Development Corp. Rev. (Charter School for Applied Technologies Project), “A”, 5%, 6/01/2035    $ 1,000,000 $1,020,353
Build NYC Resource Corp. Rev. (Academic Leadership Charter School Project), 4%, 6/15/2029      320,000 319,582
Build NYC Resource Corp. Rev. (Academic Leadership Charter School Project), 4%, 6/15/2036      400,000 390,011
Build NYC Resource Corp. Rev. (Grand Concourse Academy Charter School Project), “A”, 5%, 7/01/2042      550,000 557,783
Build NYC Resource Corp. Rev. (Grand Concourse Academy Charter School Project), “A”, 5%, 7/01/2056      550,000 547,786
Build NYC Resource Corp. Rev. (International Leadership Charter School Project), 6%, 7/01/2043      750,000 750,193
Build NYC Resource Corp. Rev. (KIPP NYC Public Schools Facilities - Canal West Project), 5.25%, 7/01/2052      2,000,000 2,064,967
Build NYC Resource Corp. Rev. (New World Preparatory Charter School Project), “A”, 4%, 6/15/2031 (n)     350,000 337,231
Build NYC Resource Corp. Rev. (New World Preparatory Charter School Project), “A”, 4%, 6/15/2041 (n)     610,000 530,321
Build NYC Resource Corp. Rev. (New World Preparatory Charter School Project), “A”, 4%, 6/15/2051 (n)     1,265,000 1,008,069
Build NYC Resource Corp. Rev. (Packer Collegiate Institute Project), 5%, 6/01/2040      675,000 676,892
Nassau County, NY, Local Economic Assistance Corp., Education Rev. (Friends of Roosevelt Children's Academy Charter School, Inc. Project), “A”, 5%, 7/01/2055      1,000,000 1,004,426
New York Build Resource Corp. Rev. (Success Academy Charter Schools Project), 4%, 9/01/2044      1,000,000 947,538
Rensselaer County, NY, Industrial Development Agency, Civic Facility Rev. (Emma Willard School Refunding Project), 5%, 1/01/2036      240,000 240,306
        $10,395,458
Single Family Housing - State – 2.7%
New York Mortgage Agency Homeowner Mortgage Rev., “211”, 3.8%, 10/01/2048    $ 370,000 $325,064
New York Mortgage Agency Homeowner Mortgage Rev., “212”, 3.7%, 10/01/2033      335,000 315,006
New York Mortgage Agency Homeowner Mortgage Rev., “217”, 3.625%, 4/01/2039      355,000 328,146
New York Mortgage Agency Homeowner Mortgage Rev., “239”, 3.25%, 10/01/2051      825,000 804,732
New York Mortgage Agency Homeowner Mortgage Rev., “264”, 4.6%, 10/01/2054      1,000,000 993,202
New York Mortgage Agency Homeowner Mortgage Rev., “258”, 4.45%, 10/01/2044      1,000,000 991,143
New York Mortgage Agency Homeowner Mortgage Rev., “258”, 4.6%, 10/01/2049      1,000,000 1,005,455
        $4,762,748
State & Local Agencies – 1.7%
New York Dormitory Authority Rev., State Personal Income Tax Rev., 3%, 3/15/2050    $ 1,225,000 $926,560
Yonkers, NY, Industrial Development Agency, School Facility Rev. (New Community School Project), 5%, 5/01/2042      2,000,000 2,147,919
        $3,074,479
Tax - Other – 4.7%
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5.75%, 4/01/2035    $ 690,000 $714,346
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5%, 4/01/2045      140,000 143,903
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5.75%, 4/01/2048      325,000 348,877
Glen Cove, NY, Local Economic Assistance Corp. (Garvies Point Public Improvement Project), Capital Appreciation, “B”, 0%, 1/01/2045      1,870,000 517,764
Guam Government Limited Obligation Rev., “A”, 5%, 12/01/2036      100,000 101,227
Guam Government Limited Obligation Rev., “A”, 5%, 12/01/2046      300,000 300,048
New York, NY, Transitional Finance Authority Rev., “C-1”, 4%, 5/01/2045      1,800,000 1,754,534
Triborough Bridge & Tunnel Authority Rev., NY, Payroll Mobility Tax (MTA Bridges and Tunnels), “A-1”, 4%, 5/15/2046      2,285,000 2,207,272
Triborough Bridge & Tunnel Authority Rev., NY, Payroll Mobility Tax (MTA Bridges and Tunnels), “B-1”, 5.25%, 5/15/2054      2,000,000 2,182,032
        $8,270,003
Tobacco – 1.9%
Buckeye, OH, Tobacco Settlement Financing Authority Senior Asset-Backed Refunding, 2020A-2, “1”, 4%, 6/01/2048    $ 695,000 $605,351
Buckeye, OH, Tobacco Settlement Financing Authority Senior Asset-Backed Refunding, 2020B-2, “2”, 5%, 6/01/2055      175,000 155,095
Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Taxable, “B-1”, 3.85%, 6/01/2050      605,000 547,931
Tobacco Settlement Asset Securitization Corp., NY, “A”, 5%, 6/01/2035      1,000,000 1,023,730
Tobacco Settlement Asset Securitization Corp., NY, “A”, 5%, 6/01/2036      1,000,000 1,021,808
        $3,353,915
Toll Roads – 1.2%
New York Thruway Authority General Rev., “P”, 5.25%, 1/01/2054    $ 2,000,000 $2,161,541
4
Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Municipal Bonds – continued
Transportation - Special Tax – 7.5%
Metropolitan Transportation Authority, NY, Refunding Rev. (Climate Bond Certified), “E”, 5%, 11/15/2033    $ 2,000,000 $2,164,648
Metropolitan Transportation Authority, NY, Refunding Rev. (Climate Bond Certified), “E”, 4%, 11/15/2045      1,340,000 1,275,163
Metropolitan Transportation Authority, NY, Transportation Refunding Green Rev. (Climate Bond Certified), BAM, 4%, 11/15/2048      2,000,000 1,897,590
Metropolitan Transportation Authority, NY, Transportation Rev., “A”, 4%, 11/15/2052      1,830,000 1,708,371
Metropolitan Transportation Authority, NY, Transportation Rev., “A-2”, FLR, 3.788% (67% of SOFR + 0.8%), 11/01/2032 (Put Date 4/01/2026)      1,500,000 1,499,807
Metropolitan Transportation Authority, NY, Transportation Rev., “B”, BAM, 5%, 11/15/2052      3,100,000 3,190,839
New Jersey Transportation Trust Fund Authority, “CC”, 5.5%, 6/15/2050      125,000 147,058
New York Transportation Development Corp., Exempt Facility Rev. (State Thruway Service Areas Project), 4%, 10/31/2046      1,000,000 875,401
New York Transportation Development Corp., Exempt Facility Rev. (State Thruway Service Areas Project), 4%, 4/30/2053      435,000 368,034
        $13,126,911
Universities - Colleges – 4.9%
Albany, NY, Capital Resource Corp. Rev. (Albany College of Pharmacy Project), “A”, 5%, 12/01/2033    $ 125,000 $125,039
Build NYC Resource Corp. Rev. (Albert Einstein School of Medicine, Inc.), 5.5%, 9/01/2045 (n)     880,000 880,479
Hempstead, NY, Local Development Corp. Rev. (Hofstra University Project), “A”, 3%, 7/01/2051      3,000,000 2,212,503
Monroe County, NY, Industrial Development Corp. Rev. (St. John Fisher University Project), 5.25%, 6/01/2049      635,000 682,425
Monroe County, NY, Industrial Development Corp. Rev. (St. John Fisher University Project), 5.25%, 6/01/2054      850,000 903,331
New York Dormitory Authority Rev. (Pace University), “A”, 5.5%, 5/01/2056      1,000,000 1,073,428
New York Dormitory Authority, Institute of Technology Rev., 5.25%, 7/01/2049      1,500,000 1,591,185
Oneida County, NY, Local Development Corp. Rev. (Hamilton College Project), 5%, 7/01/2051      750,000 854,840
St. Lawrence County, NY, Industrial Development Agency, Civic Development Corp Rev. (Clarkson University), “B”, 5%, 9/01/2039      200,000 204,692
St. Lawrence County, NY, Industrial Development Agency, Civic Development Corp Rev. (Clarkson University), “B”, 5%, 9/01/2040      150,000 152,838
        $8,680,760
Utilities - Municipal Owned – 0.4%
Puerto Rico Electric Power Authority Rev., “A”, 5%, 7/01/2029 (a)(d)   $ 675,000 $364,500
Puerto Rico Electric Power Authority Rev., “CCC”, 5.25%, 7/01/2027 (a)(d)     250,000 135,000
Puerto Rico Electric Power Authority Rev., “TT”, 5%, 7/01/2021 (a)(d)     115,000 62,100
Puerto Rico Electric Power Authority Rev., “VV”, NPFG, 5.25%, 7/01/2034      30,000 29,533
Puerto Rico Electric Power Authority Rev., “ZZ”, 5.25%, 7/01/2023 (a)(d)     180,000 97,200
Puerto Rico Electric Power Authority Rev., Taxable, “EEE”, 6.05%, 7/01/2032 (a)(d)     140,000 75,600
        $763,933
Utilities - Other – 2.9%
Black Belt Energy Gas District, AL, Gas Project Rev. (Project No. 8), “A”, 4%, 12/01/2052 (Put Date 12/01/2029)    $ 525,000 $520,001
Black Belt Energy Gas District, AL, Gas Project Rev., “C-1”, 5.25%, 2/01/2053 (Put Date 6/01/2029)      1,265,000 1,328,876
California Community Choice Financing Authority, Clean Energy Project Rev., “C”, 5.25%, 1/01/2054 (Put Date 10/01/2031)      1,210,000 1,285,368
Public Authority for Colorado Energy Natural Gas Purchase Rev., 6.5%, 11/15/2038      1,085,000 1,297,064
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.5%, 10/01/2053 (Put Date 12/01/2030)      705,000 752,806
        $5,184,115
Water & Sewer Utility Revenue – 3.0%
Buffalo, NY, Municipal Water Finance Authority, Water System Rev., “A”, AGM, 4%, 7/01/2046    $ 1,500,000 $1,458,526
Great Neck North, NY, Water Authority System Rev., 3%, 11/01/2044      1,340,000 1,141,224
Guam Waterworks Authority Rev. (Water and Wastewater System), “A”, 5%, 1/01/2050      345,000 354,319
Mississippi Development Bank Special Obligation (Jackson Water and Sewer System Rev. Bond Project), AGM, 6.875%, 12/01/2040      100,000 101,691
New York, NY, Municipal Finance Authority, Water & Sewer System Second General Resolution Rev., “AA1”, 5.25%, 6/15/2053      2,000,000 2,190,764
        $5,246,524
Total Municipal Bonds   $173,695,493
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Portfolio of Investments (unaudited) – continued
Issuer     Shares/Par Value ($)
Bonds – 0.4%
Transportation - Services – 0.4%
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2025 (n)   $ 415,000 $412,110
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2043 (n)     909,204 263,669
Total Bonds   $675,779
Contingent Value Instruments – 0.1%
General Obligations - General Purpose – 0.1%
Commonwealth of Puerto Rico, General Obligation Contingent Value Instrument, 11/01/2043   $ 449,666 $275,420
Mutual Funds (h) – 0.1%
Money Market Funds – 0.1%  
MFS Institutional Money Market Portfolio, 4.49% (v)     131,428 $131,455
 
Other Assets, Less Liabilities – 0.9%   1,580,001
Net Assets – 100.0% $176,358,148
(a) Non-income producing security.      
(d) In default.      
(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 $131,455 and $174,646,692, respectively.      
(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $8,691,403, representing 4.9% 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:
AAC Ambac Assurance Corp.
AGM Assured Guaranty Municipal
BAM Build America Mutual
FGIC Financial Guaranty Insurance Co.
FHA Federal Housing Administration
FHLMC Federal Home Loan Mortgage Corp.
FLR Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate reported may not be the current rate. All reference rates are USD unless otherwise noted.
FNMA Federal National Mortgage Assn.
NPFG National Public Finance Guarantee Corp.
SOFR Secured Overnight Financing Rate
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
12/31/24 (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, debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share.
Under the fund’s valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser’s fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. Pricing services generally value debt instruments assuming orderly transactions of institutional round lot sizes, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots, and the fund may receive different prices when it sells odd lot positions than it would receive for sales of institutional round lot positions. An investment may also be valued at fair value if the adviser determines that the investment’s value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund’s net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund’s net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund’s net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.
Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). 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, 2024 in valuing the fund's assets and liabilities:
Financial Instruments Level 1 Level 2 Level 3 Total
Municipal Bonds $— $173,970,913 $— $173,970,913
U.S. Corporate Bonds — 675,779 — 675,779
Investment Companies 131,455 — — 131,455
Total $131,455 $174,646,692 $— $174,778,147
For further information regarding security characteristics, see the Portfolio of Investments.
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Supplemental Information (unaudited) – continued
(2) Investments in Affiliated Issuers
An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the following were affiliated issuers for the period ended December 31, 2024:
Affiliated Issuers Beginning
Value 		Purchases Sales
Proceeds 		Realized
Gain
(Loss) 		Change in
Unrealized
Appreciation or
Depreciation 		Ending
Value
MFS Institutional Money Market Portfolio $1,290,035 $34,313,958 $35,472,345 $(73) $(120) $131,455
Affiliated Issuers Dividend
Income 		Capital Gain
Distributions
MFS Institutional Money Market Portfolio $155,650 $—
(3) Jurisdiction Weightings
Jurisdiction weighting percentages based on net assets, as of December 31, 2024, are as follows:
New York 87.1%
Puerto Rico 4.1%
California 2.3%
Illinois 1.3%
Alabama 1.1%
Guam 1.0%
Colorado 0.7%
New Hampshire 0.4%
Ohio 0.4%
Tennessee 0.4%
Virginia 0.4%
Wisconsin 0.4%
Michigan 0.2%
Texas 0.2%
Mississippi 0.1%
New Jersey 0.1%
U.S. Virgin Islands 0.1%
The jurisdiction weighting percentages include both accrued interest amounts and equivalent exposure from any derivatives holdings, if applicable.
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