N-Q 1 dnq.htm MFS SERIES TRUST XV N-Q MFS SERIES TRUST XV N-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

 

Investment Company Act file number 811-4253

 

 

MFS SERIES TRUST XV

(Exact name of registrant as specified in charter)

500 Boylston Street, Boston, Massachusetts 02116

(Address of principal executive offices) (Zip code)

 

 

Susan S. Newton

Massachusetts Financial Services Company

500 Boylston Street

Boston, Massachusetts 02116

(Name and address of agents for service)

 

Registrant’s telephone number, including area code: (617) 954-5000

 

Date of fiscal year end: October 31

 

Date of reporting period: July 31, 2008

 

ITEM 1. SCHEDULE OF INVESTMENTS.

LOGO

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08

 

Issuer

    Shares/Par    Value ($)

Common Stocks – 87.1%

      

Aerospace – 1.6%

      

Boeing Co.

    3,162    $ 193,230

FLIR Systems, Inc.

    260      10,592

Goodrich Corp.

    1,150      56,511

L-3 Communications Holdings, Inc.

    620      61,188

Lockheed Martin Corp.

    12,055      1,257,698

Northrop Grumman Corp.

    10,375      699,171

Raytheon Co.

    520      29,604

United Technologies Corp.

    5,320      340,374
         
      $ 2,648,368
         

Airlines – 0.2%

      

Allegiant Travel Co.

    1,850    $ 45,658

Copa Holdings S.A., “A”

    5,410      193,678

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

    12,600      28,185

Grupo Aeroportuario del Pacifico S.A. de C.V., ADR

    880      26,136
         
      $ 293,657
         

Alcoholic Beverages – 0.6%

      

Companhia de Bebidas das Americas, ADR

    1,200    $ 71,064

Diageo PLC

    14,140      246,018

Foster’s Group Ltd.

    24,444      113,332

Heineken N.V.

    7,510      349,166

Molson Coors Brewing Co.

    2,790      150,576

Pernod Ricard S.A.

    1,380      119,975
         
      $ 1,050,131
         

Apparel Manufacturers – 1.2%

      

Adidas AG

    5,921    $ 363,846

Billabong International Ltd.

    5,516      52,285

Coach, Inc. (a)

    4,425      112,882

Compagnie Financiere Richemont S.A.

    820      49,182

Li & Fung Ltd.

    28,000      95,092

LVMH Moet Hennessy Louis Vuitton S.A.

    4,450      490,878

NIKE, Inc., “B”

    8,620      505,822

Phillips-Van Heusen Corp.

    3,570      126,378

Quiksilver, Inc. (a)

    17,290      132,614

Sanyo Shokai Ltd.

    4,000      18,146
         
      $ 1,947,125
         

Automotive – 0.8%

      

Autoliv, Inc.

    2,912    $ 113,684

Bayerische Motoren Werke AG

    6,650      298,415

BorgWarner Transmission Systems, Inc.

    1,080      43,546

Bridgestone Corp.

    9,300      151,195

Compagnie Generale des Etablissements Michelin

    1,490      97,706

Goodyear Tire & Rubber Co. (a)

    7,510      147,421

Harley-Davidson, Inc.

    2,570      97,249

Johnson Controls, Inc.

    7,580      228,613

Yamaha Motor Co. Ltd.

    5,800      97,722
         
      $ 1,275,551
         

Biotechnology – 1.4%

      

Actelion Ltd. (a)

    3,855    $ 209,326

Affymetrix, Inc. (a)

    14,440      113,787

Amgen, Inc. (a)

    6,120      383,296

Celgene Corp. (a)

    270      20,382

Cubist Pharmaceuticals, Inc. (a)

    3,780      85,655

Genentech, Inc. (a)

    1,780      169,545

Genzyme Corp.

    9,020      691,383

 

1

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Biotechnology – continued

      

Gilead Sciences, Inc. (a)

    2,030    $ 109,579

Invitrogen Corp. (a)

    6,129      271,821

Lonza Group AG

    938      136,233

Millipore Corp. (a)

    470      33,065

Nanosphere, Inc.

    1,920      18,989
         
      $ 2,243,061
         

Broadcasting – 1.5%

      

Fuji Television Network, Inc.

    75    $ 103,460

Grupo Televisa S.A., ADR

    29,211      656,955

Nippon Television Network Corp.

    440      47,654

Omnicom Group, Inc.

    5,945      253,792

Societe Television Francaise 1

    4,919      84,002

Time Warner, Inc.

    10,580      151,506

Vivendi S.A.

    3,950      165,036

Walt Disney Co.

    14,870      451,304

WPP Group PLC

    60,510      576,116
         
      $ 2,489,825
         

Brokerage & Asset Managers – 2.3%

      

Affiliated Managers Group, Inc. (a)

    2,680    $ 231,552

AGF Management Ltd., “B”

    4,200      90,041

Bolsa de Mercadorias & Futuros

    200      1,767

Charles Schwab Corp.

    7,500      171,675

CME Group, Inc.

    115      41,415

Daiwa Securities Group, Inc.

    56,000      483,713

Deutsche Boerse AG

    1,320      150,451

Franklin Resources, Inc.

    1,220      122,744

Goldman Sachs Group, Inc.

    5,045      928,482

HFF, Inc., “A”

    4,090      20,409

ICAP PLC

    5,660      55,798

IG Group Holdings PLC

    9,080      63,614

Intercontinental Exchange, Inc. (a)

    1,208      120,558

Invesco Ltd.

    13,040      303,702

Julius Baer Holding Ltd.

    4,362      278,170

KBW, Inc.

    1,620      42,800

KKR Private Equity Investors LP, IEU

    2,904      38,536

Merrill Lynch & Co., Inc.

    3,930      104,735

Morgan Stanley

    9,690      382,561

Octaviar Ltd.

    3,340      1,558

TD AMERITRADE Holding Corp. (a)

    4,760      94,772

Thomas Weisel Partners Group

    1,740      9,796

Van Lanschot N.V.

    460      41,622

Waddell & Reed Financial, Inc., “A”

    1,010      33,734
         
      $ 3,814,205
         

Business Services – 2.2%

      

Accenture Ltd., “A”

    7,660    $ 319,882

Amdocs Ltd.

    6,930      210,741

ATA, Inc., ADR

    2,000      29,940

Automatic Data Processing, Inc.

    1,300      55,523

Bunzl PLC

    11,940      149,042

Capita Group PLC

    4,433      60,382

Concur Technologies, Inc.

    700      28,854

Constant Contact, Inc.

    1,910      34,036

Corporate Executive Board Co.

    2,480      92,950

CoStar Group, Inc. (a)

    1,270      63,360

Fidelity National Information Services, Inc.

    5,105      96,740

 

2

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Business Services – continued

      

Infosys Technologies Ltd., ADR

    3,230    $ 127,230

Intertek Group PLC

    5,216      104,126

JFE Shoji Holdings, Inc.

    4,000      30,580

Kloeckner & Co. AG

    2,776      139,208

Lender Processing Services, Inc. (a)

    757      25,246

MasterCard, Inc., “A”

    430      104,985

Mitsubishi Corp.

    4,200      121,786

Mitsui & Co. Ltd.

    2,000      41,533

Satyam Computer Services Ltd., ADR

    23,284      496,881

Syntel, Inc.

    2,870      94,567

USS Co. Ltd.

    1,330      88,619

Visa, Inc., “A”

    2,490      181,919

Western Union Co.

    33,100      914,884
         
      $ 3,613,014
         

Cable TV – 0.5%

      

Comcast Corp., “A”

    11,810    $ 243,522

Comcast Corp., “Special A”

    2,030      41,696

DIRECTV Group, Inc.

    7,240      195,625

Dish Network Corp., “A” (a)

    2,050      60,311

Liberty Global, Inc., “A”

    720      20,758

Premiere AG

    2,190      39,518

Time Warner Cable, Inc., “A” (a)

    9,080      258,144
         
      $ 859,574
         

Chemicals – 1.1%

      

3M Co.

    4,430    $ 311,828

Hoganas AB

    2,847      54,655

Intrepid Potash, Inc. (a)

    1,260      69,678

Makhteshim-Agan Industries Ltd.

    18,490      160,005

Monsanto Co.

    770      91,715

Mosaic Co.

    568      72,255

Nalco Holding Co.

    2,270      53,345

Orica Ltd.

    4,306      96,065

PPG Industries, Inc.

    11,509      697,906

Terra Nitrogen Co. LP

    1,120      135,677

Wacker Chemie AG

    140      28,965
         
      $ 1,772,094
         

Computer Software – 2.3%

      

ACI Worldwide, Inc. (a)

    4,940    $ 96,626

Akamai Technologies, Inc. (a)

    1,700      39,678

ANSYS, Inc.

    840      38,539

CommVault Systems, Inc. (a)

    8,540      130,064

Guidance Software, Inc.

    3,320      36,122

Microsoft Corp.

    21,370      549,636

MicroStrategy, Inc., “A” (a)

    2,782      168,144

MSC Software Corp. (a)

    4,065      51,219

Oracle Corp.

    49,410      1,063,797

Parametric Technology Corp.

    3,210      62,178

Salesforce.com, Inc. (a)

    4,340      276,849

SAP AG

    2,040      118,032

Symantec Corp.

    4,630      97,554

Synopsys, Inc. (a)

    12,720      305,534

VeriSign, Inc. (a)

    20,110      654,379
         
      $ 3,688,351
         

 

3

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Computer Software - Systems – 2.1%

      

Apple, Inc.

    6,660    $ 1,058,607

Computer Sciences Corp.

    340      16,106

Dell, Inc.

    1,050      25,798

Deltek, Inc.

    2,720      20,890

EMC Corp.

    14,390      215,994

Fujitsu Ltd.

    32,000      232,821

Hewlett-Packard Co.

    5,610      251,328

International Business Machines Corp.

    11,077      1,417,634

PROS Holdings, Inc.

    3,310      34,623

Wincor Nixdorf AG

    2,460      184,142
         
      $ 3,457,943
         

Conglomerates – 0.6%

      

Siemens AG

    7,540    $ 924,612

Wesfarmers Ltd.

    1,998      64,125
         
      $ 988,737
         

Construction – 1.3%

      

Corporacion Moctezuma S.A. de C.V.

    5,200    $ 12,337

CRH PLC

    6,130      157,710

Dayton Superior Corp. (a)

    12,180      24,360

Duratex S.A., IPS

    1,400      25,503

Fletcher Building Ltd.

    5,780      26,848

Geberit AG

    2,303      293,464

Lennar Corp.

    5,540      67,034

Masco Corp.

    7,310      120,542

Nexity International

    1,020      22,623

NVR, Inc. (a)

    854      471,681

Pulte Homes, Inc.

    24,230      295,848

SARE Holding S.A. de C.V., “B”

    9,700      11,023

Sekisui Chemical Co. Ltd.

    11,000      69,886

Sherwin-Williams Co.

    3,000      159,750

Stanley Works

    4,580      203,718

Toll Brothers, Inc. (a)

    2,520      50,627

Urbi Desarrollos Urbanos S.A.B. de C.V.

    8,370      27,992

Wienerberger AG

    4,132      110,652
         
      $ 2,151,598
         

Consumer Goods & Services – 2.4%

      

AmorePacific Corp.

    54    $ 34,255

Apollo Group, Inc., “A” (a)

    5,290      329,514

Avon Products, Inc.

    3,950      167,480

Capella Education Co. (a)

    1,250      65,250

Central Garden & Pet Co., “A”

    11,250      47,025

Colgate-Palmolive Co.

    2,190      162,651

DeVry, Inc.

    670      38,063

Hengan International Group Co. Ltd.

    24,000      72,482

Henkel KGaA, IPS

    5,539      220,424

ITT Educational Services, Inc. (a)

    2,250      199,305

Kao Corp.

    12,000      311,047

Kimberly-Clark Corp.

    2,180      126,069

Kimberly-Clark de Mexico S.A. de C.V., “A”

    32,070      138,231

Kose Corp.

    3,200      77,806

L’Oreal S.A.

    610      64,107

New Oriental Education & Technology Group, Inc., ADR (a)

    3,490      244,300

Physicians Formula Holdings, Inc. (a)

    4,780      44,597

Priceline.com, Inc. (a)

    1,020      117,249

Procter & Gamble Co.

    15,160      992,677

 

4

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Consumer Goods & Services – continued

      

Reckitt Benckiser Group PLC

    6,750    $ 369,051

Shiseido Co. Ltd.

    2,000      44,406

Uni-Charm Corp.

    800      56,453
         
      $ 3,922,442
         

Containers – 0.2%

      

Brambles Ltd.

    50,060    $ 385,071

Smurfit-Stone Container Corp. (a)

    70      400
         
      $ 385,471
         

Electrical Equipment – 2.1%

      

Anixter International, Inc. (a)

    3,250    $ 221,096

Baldor Electric Co.

    5,180      176,379

Danaher Corp.

    6,930      551,974

General Electric Co.

    11,660      329,861

Itron, Inc.

    540      49,858

Keyence Corp.

    300      64,823

Legrand S.A.

    10,256      261,297

LS Industrial Systems Co. Ltd.

    1,550      68,885

OMRON Corp.

    13,600      237,271

Prysmian S.p.A.

    4,576      113,527

Rockwell Automation, Inc.

    1,660      73,887

Schneider Electric S.A.

    2,780      306,904

Spectris PLC

    8,360      117,891

Tyco International Ltd. (a)

    1,632      72,722

W.W. Grainger, Inc.

    1,370      122,629

WESCO International, Inc. (a)

    15,465      582,257
         
      $ 3,351,261
         

Electronics – 3.6%

      

Altera Corp.

    920    $ 20,194

Applied Materials, Inc.

    5,140      89,025

ARM Holdings PLC

    86,154      162,471

ARM Holdings PLC, ADR

    12,750      72,293

ASM Pacific Technology Ltd.

    10,700      77,148

ASML Holding N.V.

    5,300      120,787

Canon, Inc.

    1,400      63,972

First Solar, Inc. (a)

    240      68,426

Flextronics International Ltd. (a)

    57,913      517,163

GT Solar International, Inc. (a)

    7,980      97,835

Hirose Electric Co. Ltd.

    500      47,358

Hittite Microwave Corp. (a)

    8,170      260,786

Hoya Corp.

    600      12,240

Intel Corp.

    55,740      1,236,871

Intersil Corp., “A”

    15,730      379,565

Konica Minolta Holdings, Inc.

    27,500      450,305

Marvell Technology Group Ltd. (a)

    1,700      25,143

Mellanox Technologies Ltd. (a)

    6,310      80,705

MEMC Electronic Materials, Inc. (a)

    2,040      94,268

National Semiconductor Corp.

    11,770      246,582

Nintendo Co. Ltd.

    80      38,576

Nippon Electric Glass Co. Ltd.

    12,000      176,443

RF Micro Devices, Inc. (a)

    15,690      51,306

Ricoh Co. Ltd.

    18,000      289,723

Royal Philips Electronics N.V.

    5,680      188,414

Samsung Electronics Co. Ltd.

    657      366,136

SanDisk Corp. (a)

    11,340      159,894

SUMCO Corp.

    1,600      36,064

 

5

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Electronics – continued

      

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

    22,415    $ 212,943

Tokyo Electron Ltd.

    1,700      95,401

USHIO, Inc.

    1,500      23,029

Venture Corp. Ltd.

    21,000      164,530
         
      $ 5,925,596
         

Energy - Independent – 1.6%

      

Apache Corp.

    5,230    $ 586,649

Arch Coal, Inc.

    980      55,184

Arena Resources, Inc. (a)

    780      31,910

Chesapeake Energy Corp.

    2,440      122,366

CONSOL Energy, Inc.

    2,790      207,548

Devon Energy Corp.

    1,790      169,853

EOG Resources, Inc.

    960      96,509

EXCO Resources, Inc. (a)

    1,920      50,016

Foundation Coal Holdings, Inc.

    400      23,760

Goodrich Petroleum Corp.

    650      29,802

INPEX Holdings, Inc.

    37      371,801

Kodiak Oil & Gas Corp. (a)

    5,150      17,201

Occidental Petroleum Corp.

    980      77,253

OMV AG

    1,605      110,557

Peabody Energy Corp.

    480      32,472

Penn Virginia Corp.

    270      16,403

Sandridge Energy, Inc. (a)

    560      27,378

SK Energy Co. Ltd.

    513      52,270

St. Mary Land & Exploration Co.

    730      31,069

Stone Energy Corp. (a)

    370      18,877

Talisman Energy, Inc.

    2,840      50,811

Talisman Energy, Inc.

    10,550      188,107

Tesoro Corp.

    2,010      31,034

Valero Energy Corp.

    736      24,590

W&T Offshore, Inc.

    490      21,687

XTO Energy, Inc.

    3,410      161,054
         
      $ 2,606,161
         

Energy - Integrated – 4.8%

      

Chevron Corp.

    9,530    $ 805,857

ConocoPhillips

    5,650      461,153

Eni S.p.A.

    6,810      230,275

Exxon Mobil Corp.

    22,592      1,817,075

Hess Corp.

    8,092      820,529

Marathon Oil Corp.

    13,090      647,562

Murphy Oil Corp.

    720      57,406

OAO Gazprom, ADR

    6,100      292,260

Petroleo Brasileiro S.A., ADR

    4,010      224,199

Royal Dutch Shell PLC, “A”

    12,570      448,368

Royal Dutch Shell PLC, ADR

    1,810      128,130

StatoilHydro ASA

    15,750      511,356

TOTAL S.A.

    7,270      557,171

TOTAL S.A., ADR

    10,580      809,370
         
      $ 7,810,711
         

Engineering - Construction – 0.7%

      

Fluor Corp.

    3,250    $ 264,387

Foster Wheeler Ltd. (a)

    4,292      243,657

JGC Corp.

    2,000      40,610

KHD Humboldt Wedag International Ltd. (a)

    4,650      123,271

North American Energy Partners, Inc. (a)

    14,770      267,189

 

6

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Engineering - Construction – continued

      

Quanta Services, Inc. (a)

    3,410    $ 105,301

Team, Inc. (a)

    3,910      142,754
         
      $ 1,187,169
         

Entertainment – 0.0%

      

Regal Entertainment Group, “A”

    1,280    $ 21,312

TiVo, Inc. (a)

    4,010      30,797
         
      $ 52,109
         

Food & Beverages – 2.7%

      

Binggrae Co. Ltd.

    420    $ 15,381

Coca-Cola Co.

    4,480      230,720

Coca-Cola Enterprises, Inc.

    660      11,174

Coca-Cola Hellenic Bottling Co.

    1,890      46,700

Dean Foods Co. (a)

    8,420      179,346

Fomento Economico Mexicano S.A. de C.V., ADR

    510      23,389

General Mills, Inc.

    8,560      551,178

Groupe Danone

    1,259      93,100

H.J. Heinz Co.

    990      49,876

Hain Celestial Group, Inc. (a)

    3,680      96,195

J.M. Smucker Co.

    1,280      62,387

Kellogg Co.

    4,840      256,810

Kerry Group PLC

    4,737      131,326

Nestle S.A.

    31,280      1,370,211

Nong Shim Co. Ltd.

    484      107,871

Pepsi Bottling Group, Inc.

    4,955      137,997

PepsiCo, Inc.

    16,080      1,070,285
         
      $ 4,433,946
         

Food & Drug Stores – 1.0%

      

Aeon Co. Ltd.

    6,000    $ 72,790

CVS Caremark Corp.

    21,552      786,648

Dairy Farm International Holdings Ltd.

    15,300      75,429

Kroger Co.

    8,760      247,733

Lawson, Inc.

    4,100      212,049

Susser Holdings Corp.

    1,420      17,523

Tesco PLC

    14,610      103,839

Walgreen Co.

    880      30,219
         
      $ 1,546,230
         

Forest & Paper Products – 0.1%

      

Louisiana-Pacific Corp.

    6,750    $ 57,105

M-real Oyj, “B”

    7,870      12,062

Universal Forest Products, Inc.

    2,550      68,850

UPM-Kymmene Corp.

    5,600      88,496
         
      $ 226,513
         

Furniture & Appliances – 0.0%

      

Tupperware Brands Corp.

    1,025    $ 39,975
         

Gaming & Lodging – 0.5%

      

International Game Technology

    8,910    $ 193,436

Las Vegas Sands Corp. (a)

    840      38,237

Morgans Hotel Group Co. (a)

    6,290      91,142

Pinnacle Entertainment, Inc. (a)

    7,400      83,620

Royal Caribbean Cruises Ltd.

    12,620      321,558

WMS Industries, Inc. (a)

    3,280      92,430
         
      $ 820,423
         

 

7

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

General Merchandise – 1.3%

      

99 Cents Only Stores (a)

    10,470    $ 70,044

Daiei, Inc.

    4,900      38,365

Family Dollar Stores, Inc.

    20,310      473,223

Kohl’s Corp. (a)

    5,980      250,622

Macy’s, Inc.

    6,952      130,767

Massmart Holdings Ltd.

    7,090      72,562

Stage Stores, Inc.

    10,330      153,091

Wal-Mart Stores, Inc.

    15,160      888,679
         
      $ 2,077,353
         

Health Maintenance Organizations – 1.1%

      

Aetna, Inc.

    6,955    $ 285,225

AMERIGROUP Corp.

    1,130      28,702

CIGNA Corp.

    15,082      558,336

Coventry Health Care, Inc. (a)

    3,860      136,528

Ehealth, Inc. (a)

    3,160      45,883

Humana, Inc.

    2,010      88,259

UnitedHealth Group, Inc.

    1,470      41,278

WellPoint, Inc. (a)

    11,630      609,994
         
      $ 1,794,205
         

Insurance – 3.4%

      

ACE Ltd.

    490    $ 24,843

Allied World Assurance Co. Holdings Ltd.

    3,040      126,494

Allstate Corp.

    9,415      435,161

American International Group, Inc.

    2,280      59,394

Amlin PLC

    21,045      106,653

Aon Corp.

    880      40,304

Aspen Insurance Holdings Ltd.

    12,276      311,688

Aviva PLC

    9,750      96,770

AXA

    9,510      280,780

Benfield Group PLC

    10,730      51,751

Catlin Group Ltd.

    11,965      77,804

Chubb Corp.

    4,020      193,121

CNP Assurances S.A.

    1,002      111,560

Employers Holdings, Inc.

    4,460      79,477

Endurance Specialty Holdings Ltd.

    3,318      101,531

Euler Hermes

    449      34,669

First American Corp.

    1,260      31,752

Genworth Financial, Inc., “A”

    29,731      474,804

Hartford Financial Services Group, Inc.

    4,880      309,343

Hiscox Ltd.

    27,792      109,566

IPC Holdings Ltd.

    610      19,581

Jardine Lloyd Thompson Group PLC

    14,260      116,255

Max Capital Group Ltd.

    10,670      250,425

MetLife, Inc.

    16,400      832,628

Muenchener Ruckversicherungs-Gesellschaft AG

    620      103,247

Old Mutual PLC

    29,887      57,019

PartnerRe Ltd.

    639      44,934

Protective Life Corp.

    3,420      122,983

Prudential Financial, Inc.

    6,900      475,893

RenaissanceRe Holdings Ltd.

    390      19,839

Travelers Cos., Inc.

    9,435      416,272

W.R. Berkley Corp.

    1,720      40,626
         
      $ 5,557,167
         

Internet – 0.8%

      

Dealertrack Holdings, Inc.

    3,900    $ 60,762

 

8

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Internet – continued

      

eBay, Inc. (a)

    780    $ 19,633

Google, Inc., “A”

    2,080      985,400

Greenfield Online, Inc. (a)

    1,210      16,746

Omniture, Inc. (a)

    6,160      106,876

TechTarget, Inc. (a)

    13,400      95,006

Universo Online S.A., IPS

    8,600      47,340

Vocus, Inc.

    740      26,337
         
      $ 1,358,100
         

Leisure & Toys – 0.5%

      

Activision Blizzard, Inc. (a)

    4,090    $ 147,158

Electronic Arts, Inc. (a)

    5,750      248,285

Hasbro, Inc.

    1,440      55,757

Heiwa Corp.

    1,500      14,277

NAMCO BANDAI Holdings, Inc.

    3,000      36,287

Sankyo Co. Ltd.

    300      18,100

Scientific Games Corp.

    880      26,699

THQ, Inc. (a)

    5,550      84,249

Ubisoft Entertainment S.A.

    1,011      99,888
         
      $ 730,700
         

Machinery & Tools – 2.3%

      

Actuant Corp., “A”

    1,890    $ 57,569

Assa Abloy AB, “B”

    29,910      408,122

Bucyrus International, Inc., “A”

    3,174      222,212

Colfax Corp.

    2,290      62,494

Cummins, Inc.

    5,100      338,334

Eaton Corp.

    9,404      668,060

GEA Group AG

    10,578      348,931

Glory Ltd.

    12,800      278,542

Ingersoll-Rand Co. Ltd., “A” (a)

    3,530      127,080

Kennametal, Inc.

    5,250      156,240

Komatsu Ltd.

    2,700      66,552

Polypore International, Inc.

    4,150      108,523

Ritchie Bros. Auctioneers, Inc.

    1,980      51,698

Timken Co.

    24,125      796,608

Trinity Industries, Inc.

    850      31,994
         
      $ 3,722,959
         

Major Banks – 5.4%

      

Bank of America Corp.

    35,890    $ 1,180,781

Bank of Communication Co. Ltd.

    169,000      213,894

Bank of New York Mellon Corp.

    20,520      728,460

Barclays PLC

    45,915      307,708

BNP Paribas

    4,180      414,882

BOC Hong Kong Holdings Ltd.

    74,500      187,798

Credit Agricole S.A.

    9,670      207,623

Credit Suisse Group AG

    1,740      87,309

DBS Group Holdings Ltd.

    18,000      251,339

Erste Bank der oesterreichischen Sparkassen AG

    5,320      341,270

HSBC Holdings PLC

    6,465      106,997

JPMorgan Chase & Co.

    24,190      982,840

PNC Financial Services Group, Inc.

    3,497      249,301

Raiffeisen International Bank Holding AG

    480      59,856

Royal Bank of Scotland Group PLC

    30,259      127,042

Standard Bank Group Ltd.

    8,231      101,124

Standard Chartered PLC

    11,004      334,614

State Street Corp.

    10,995      787,682

 

9

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Major Banks – continued

      

Sumitomo Mitsui Financial Group, Inc.

    52    $ 400,616

SunTrust Banks, Inc.

    4,175      171,426

Unibanco - Uniao de Bancos Brasileiros S.A., ADR

    4,092      538,630

UniCredito Italiano S.p.A.

    93,927      559,138

UnionBanCal Corp.

    7,180      385,710

Wells Fargo & Co.

    5,740      173,750
         
      $ 8,899,790
         

Medical & Health Technology & Services – 1.1%

      

AmerisourceBergen Corp.

    3,180    $ 133,147

Athena Health, Inc.

    660      19,932

DaVita, Inc. (a)

    1,570      87,684

Express Scripts, Inc. (a)

    820      57,843

Genoptix, Inc.

    620      18,073

Healthcare Services Group, Inc.

    3,720      61,789

HealthSouth Corp.

    720      11,822

IDEXX Laboratories, Inc. (a)

    4,670      249,845

LCA-Vision, Inc.

    2,130      12,524

LifePoint Hospitals, Inc.

    490      14,029

Lincare Holdings, Inc.

    1,410      45,430

Medassets, Inc. (a)

    3,710      56,095

Medco Health Solutions, Inc. (a)

    1,740      86,269

MWI Veterinary Supply, Inc. (a)

    6,300      220,752

Omnicare, Inc.

    16,028      471,864

OPG Groep NV

    3,723      65,827

Patterson Cos., Inc. (a)

    1,730      54,028

VCA Antech, Inc. (a)

    4,770      138,998
         
      $ 1,805,951
         

Medical Equipment – 2.1%

      

ABIOMED, Inc. (a)

    7,530    $ 133,507

Advanced Medical Optics, Inc. (a)

    10,250      177,940

Align Technology, Inc. (a)

    11,520      115,315

AngioDynamics, Inc. (a)

    3,620      57,486

AtriCure, Inc.

    2,630      25,380

Baxter International, Inc.

    2,010      137,906

Boston Scientific Corp. (a)

    16,910      201,060

C.R. Bard, Inc.

    930      86,341

Conceptus, Inc. (a)

    11,480      195,964

Cooper Cos., Inc.

    7,714      259,962

Dexcom, Inc.

    3,590      24,125

Essilor International S.A.

    900      44,465

Fresenius Medical Care AG & Co. KGaA, IPS

    1,873      152,449

Hill-Rom Holdings, Inc.

    580      16,292

Immucor, Inc.

    1,820      54,837

Insulet Corp.

    2,740      38,223

Medtronic, Inc.

    5,340      282,112

Miraca Holdings, Inc.

    2,700      64,941

NxStage Medical, Inc. (a)

    16,500      65,340

ResMed, Inc.

    1,510      57,108

St. Jude Medical, Inc. (a)

    2,560      119,245

Stryker Corp.

    970      62,264

Synthes, Inc.

    850      117,452

Thermo Fisher Scientific, Inc. (a)

    1,490      90,175

Thoratec Corp. (a)

    7,810      146,516

Zimmer Holdings, Inc.

    10,818      745,468
         
      $ 3,471,873
         

 

10

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Metals & Mining – 2.3%

      

Allegheny Technologies, Inc.

    1,250    $ 59,112

Anglo American PLC

    5,580      319,991

BHP Billiton Ltd., ADR

    1,010      75,407

BHP Billiton PLC

    27,410      914,988

Century Aluminum Co. (a)

    5,600      332,752

Cleveland-Cliffs, Inc.

    4,264      462,260

Evraz Group S.A., GDR

    935      89,307

Freeport-McMoRan Copper & Gold, Inc.

    2,980      288,315

Inmet Mining Corp.

    1,607      101,957

Nucor Corp.

    3,800      217,436

Nyrstar N.V.

    2,556      32,132

Reliance Steel & Aluminum Co.

    330      20,843

Rio Tinto PLC

    2,400      251,766

Salzgitter AG

    675      110,571

Southern Copper Corp.

    1,468      40,781

United States Steel Corp.

    2,160      346,378

Uranium One, Inc.

    18,430      65,911
         
      $ 3,729,907
         

Natural Gas - Distribution – 0.7%

      

Energen Corp.

    1,092    $ 65,738

Equitable Resources, Inc.

    560      29,260

GDF Suez

    3,530      220,515

Questar Corp.

    11,270      595,958

Sempra Energy

    2,610      146,578

Tokyo Gas Co. Ltd.

    29,000      116,518
         
      $ 1,174,567
         

Natural Gas - Pipeline – 1.0%

      

El Paso Corp.

    45,719    $ 819,742

Williams Cos., Inc.

    27,381      877,561
         
      $ 1,697,303
         

Network & Telecom – 1.8%

      

Cavium Networks, Inc.

    1,830    $ 29,371

Cisco Systems, Inc.

    29,100      639,909

Juniper Networks, Inc. (a)

    12,670      329,800

NICE Systems Ltd., ADR

    8,950      264,562

Nokia Corp., ADR

    9,140      249,705

Nokia Oyj

    18,290      499,740

Polycom, Inc. (a)

    4,690      110,684

QLogic Corp.

    9,675      182,277

QUALCOMM, Inc.

    1,980      109,573

Research in Motion Ltd.

    3,320      407,762

Sonus Networks, Inc. (a)

    18,420      66,865
         
      $ 2,890,248
         

Oil Services – 2.8%

      

Acergy S.A.

    7,413    $ 124,582

Baker Hughes, Inc.

    460      38,139

BJ Services Co.

    980      28,812

Cal Dive International, Inc. (a)

    6,690      71,650

Cameron International Corp. (a)

    4,270      203,935

Dresser-Rand Group, Inc. (a)

    5,240      199,644

Dril-Quip, Inc. (a)

    1,850      100,159

ENSCO International, Inc.

    1,140      78,820

Exterran Holdings, Inc. (a)

    4,330      244,385

Fugro N.V.

    1,814      128,600

 

11

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Oil Services – continued

      

Halliburton Co.

    11,830    $ 530,221

Helix Energy Solutions Group, Inc. (a)

    11,970      382,202

Nabors Industries Ltd. (a)

    1,760      64,170

National Oilwell Varco, Inc. (a)

    4,600      361,698

Natural Gas Services Group, Inc.

    950      24,377

Noble Corp.

    8,720      452,306

Oceaneering International, Inc. (a)

    1,570      95,205

Pride International, Inc. (a)

    5,590      216,668

Saipem S.p.A.

    4,624      178,812

Schlumberger Ltd.

    4,420      449,072

TETRA Technologies, Inc. (a)

    13,630      258,016

Tidewater, Inc.

    1,720      103,097

Vallourec S.A.

    280      83,112

Weatherford International Ltd. (a)

    2,650      99,984
         
      $ 4,517,666
         

Other Banks & Diversified Financials – 2.3%

      

Aeon Credit Service Co. Ltd.

    14,000    $ 178,383

Akbank T.A.S.

    300      1,674

American Capital Ltd.

    4,890      99,365

American Express Co.

    3,780      140,314

Anglo Irish Bank Corp. PLC

    2,690      21,159

Anglo Irish Bank Corp. PLC

    31,542      248,552

Bangkok Bank Public Co. Ltd.

    8,500      28,034

Bank of Cyprus Public Co. Ltd.

    21,180      280,396

Center Financial Corp.

    6,670      73,370

Chiba Bank Ltd.

    23,000      153,441

City National Corp.

    805      39,550

CSU Cardsystem S.A.

    5,760      16,407

Dah Sing Financial Group

    4,400      34,460

DNB Holding A.S.A.

    8,800      112,319

East West Bancorp, Inc.

    14,220      169,360

Encore Bancshares, Inc. (a)

    1,771      30,107

Fortis S.A./N.V.

    3,840      54,367

Grupo Financiero Banorte S.A. de C.V.

    27,100      117,403

Hachijuni Bank Ltd.

    10,000      63,915

Hertz Global Holdings, Inc.

    1,090      9,298

ING Groep N.V.

    7,120      232,664

Joyo Bank Ltd.

    10,000      46,854

Macquarie Group Ltd.

    1,738      82,197

Moody’s Corp.

    680      23,671

New York Community Bancorp, Inc.

    5,025      83,516

Northern Trust Corp.

    1,782      139,299

PT Bank Rakyat Indonesia (Persero) Tbk

    94,500      62,405

Sapporo Hokuyo Holdings, Inc.

    5      31,161

Shinhan Financial Group Co. Ltd.

    2,280      106,568

Siam City Bank Public Co. Ltd.

    89,400      35,504

Signature Bank

    1,190      35,022

SNS REAAL Groep N.V.

    6,208      103,730

Sovereign Bancorp, Inc.

    20,370      193,922

TCF Financial Corp.

    11,100      141,525

Unione di Banche Italiane Scpa

    14,232      337,500

Viewpoint Financial Group

    6,090      98,536

Zions Bancorporation

    3,260      95,420
         
      $ 3,721,368
         

 

12

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Personal Computers & Peripherals – 0.5%

      

NetApp, Inc. (a)

    2,420    $ 61,831

Nuance Communications, Inc. (a)

    35,770      555,150

Synaptics, Inc.

    810      39,058

Western Digital Corp. (a)

    7,650      220,244
         
      $ 876,283
         

Pharmaceuticals – 4.7%

      

Abbott Laboratories

    6,030    $ 339,730

Allergan, Inc.

    6,490      337,026

Astellas Pharma, Inc.

    8,400      363,221

Bayer AG

    4,330      374,171

Bristol-Myers Squibb Co.

    12,210      257,875

Cadence Pharmaceuticals, Inc.

    2,030      20,889

Elan Corp. PLC, ADR (a)

    590      11,829

Endo Pharmaceuticals Holdings, Inc. (a)

    2,640      61,116

Genomma Lab Internacional S.A., “B”

    2,000      3,090

GlaxoSmithKline PLC

    19,420      452,251

Hisamitsu Pharmaceutical Co., Inc.

    3,900      162,909

Inspire Pharmaceuticals, Inc.

    3,200      12,096

Johnson & Johnson

    9,940      680,592

Medicis Pharmaceutical Corp., “A”

    1,130      20,747

Merck & Co., Inc.

    36,300      1,194,270

Merck KGaA

    2,970      358,914

Novartis AG

    11,370      673,636

Novo Nordisk A/S, “B”

    1,475      93,799

Pfizer, Inc.

    7,580      141,519

Roche Holding AG

    6,430      1,186,852

Schering-Plough Corp.

    21,930      462,284

Sepracor, Inc. (a)

    2,470      43,176

Synta Pharmaceuticals Corp.

    1,660      13,064

Teva Pharmaceutical Industries Ltd., ADR

    800      35,872

United Therapeutics Corp. (a)

    1,070      121,327

Wyeth

    8,130      329,428
         
      $ 7,751,683
         

Pollution Control – 0.2%

      

Allied Waste Industries, Inc.

    11,441    $ 138,436

Waste Management, Inc.

    4,170      148,202
         
      $ 286,638
         

Precious Metals & Minerals – 0.0%

      

Paladin Resources Ltd.

    13,945    $ 70,929
         

Printing & Publishing – 0.2%

      

InnerWorkings, Inc.

    4,410    $ 51,421

McGraw-Hill Cos., Inc.

    650      26,436

MSCI, Inc., “A”

    790      23,503

Reed Elsevier PLC, ADR

    6,531      74,255

Washington Post Co., “B”

    35      21,639

Wolters Kluwer N.V.

    2,000      46,411
         
      $ 243,665
         

Railroad & Shipping – 0.5%

      

Burlington Northern Santa Fe Corp.

    700    $ 72,891

East Japan Railway Co.

    26      203,463

Frontline Ltd.

    1,340      85,988

Jinhui Shipping & Transportation Ltd.

    3,000      27,197

Kirby Corp. (a)

    2,230      106,416

 

13

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Railroad & Shipping – continued

      

Union Pacific Corp.

    4,450    $ 366,858
         
      $ 862,813
         

Real Estate – 0.8%

      

American Capital Agency Corp., REIT

    5,170    $ 80,859

Apartment Investment & Management, “A”, REIT

    3,200      109,344

BRE Properties, Inc., REIT

    830      40,570

CapitaLand Ltd., REIT

    52,000      215,428

Deutsche Wohnen AG, REIT

    1,710      20,717

Equity Residential, REIT

    6,012      259,538

Host Hotels & Resorts, Inc., REIT

    4,418      57,920

Jones Lang LaSalle, Inc., REIT

    590      28,108

Kilroy Realty Corp., REIT

    3,520      161,251

Mack-Cali Realty Corp., REIT

    5,623      215,811

Maguire Properties, Inc., REIT

    920      9,927

Taubman Centers, Inc., REIT

    290      13,920

Yanlord Land Group Ltd.

    45,000      62,181
         
      $ 1,275,574
         

Restaurants – 0.9%

      

Brinker International, Inc.

    6,460    $ 118,799

Darden Restaurants, Inc.

    16,009      521,413

McCormick & Schmick’s Seafood Restaurant, Inc.

    4,960      40,226

McDonald’s Corp.

    2,290      136,919

P.F. Chang’s China Bistro, Inc. (a)

    2,830      73,580

Panera Bread Co., “A” (a)

    1,730      86,673

Peet’s Coffee & Tea, Inc. (a)

    3,790      73,867

Red Robin Gourmet Burgers, Inc. (a)

    6,540      162,388

Texas Roadhouse, Inc., “A” (a)

    10,340      95,955

YUM! Brands, Inc.

    3,140      112,475
         
      $ 1,422,295
         

Special Products & Services – 0.1%

      

Heckmann Corp. (a)

    8,020    $ 78,756

Olin Corp.

    750      22,305
         
      $ 101,061
         

Specialty Chemicals – 1.4%

      

Air Products & Chemicals, Inc.

    1,190    $ 113,300

Airgas, Inc.

    5,260      301,293

Akzo Nobel N.V.

    8,063      460,196

Croda International PLC

    8,207      111,620

L’Air Liquide S.A.

    938      123,017

Linde AG

    4,000      552,145

Methanex Corp.

    1,854      50,206

Methanex Corp.

    470      12,643

Praxair, Inc.

    5,490      514,578

Symrise AG

    4,838      82,752
         
      $ 2,321,750
         

Specialty Stores – 1.7%

      

Advance Auto Parts, Inc.

    5,700    $ 234,213

AnnTaylor Stores Corp. (a)

    2,310      52,090

Citi Trends, Inc. (a)

    5,400      124,902

Ctrip.com International Ltd., ADR

    1,360      61,322

Dick’s Sporting Goods, Inc. (a)

    12,380      217,269

Ethan Allen Interiors, Inc.

    3,230      81,073

Industria de Diseno Textile S.A.

    5,160      247,903

Kingfisher PLC

    33,550      78,010

 

14

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

    Shares/Par    Value ($)

Common Stocks – continued

      

Specialty Stores – continued

      

Lowe’s Cos., Inc.

    3,750    $ 76,200

Lumber Liquidators, Inc.

    4,240      63,515

Monro Muffler Brake, Inc.

    1,760      32,050

NEXT PLC

    9,222      173,369

Nordstrom, Inc.

    6,060      174,164

O’Reilly Automotive, Inc. (a)

    7,020      179,291

Pier 1 Imports, Inc. (a)

    18,270      67,599

Praktiker Bau-und Heimwerkermaerkte Holding AG

    1,120      17,993

Ross Stores, Inc.

    5,850      222,066

Staples, Inc.

    8,320      187,200

Tiffany & Co.

    3,650      137,934

TJX Cos., Inc.

    980      33,036

Urban Outfitters, Inc.

    4,750      156,798

Zumiez, Inc. (a)

    5,940      87,674
         
      $ 2,705,671
         

Telecommunications - Wireless – 1.2%

      

America Movil S.A.B. de C.V., “L”, ADR

    8,600    $ 434,214

KDDI Corp.

    45      257,879

MTN Group Ltd.

    4,680      80,713

Orascom Telecom Holding S.A.E., GDR

    1,810      94,482

Rogers Communications, Inc., “B”

    5,370      181,989

Rogers Communications, Inc., “B”

    5,780      195,359

SmarTone Telecommunications Holdings Ltd.

    25,000      24,098

Vodafone Group PLC

    271,680      729,676
         
      $ 1,998,410
         

Telephone Services – 2.0%

      

AT&T, Inc.

    26,410    $ 813,692

Embarq Corp.

    12,770      584,483

Qwest Communications International, Inc.

    31,271      119,768

Royal KPN N.V.

    18,770      326,894

Telefonica S.A.

    25,940      675,514

Telekom Austria AG

    4,983      102,139

Verizon Communications, Inc.

    15,630      532,045

Virgin Media, Inc.

    11,310      126,898
         
      $ 3,281,433
         

Tobacco – 1.3%

      

Altria Group, Inc.

    12,355    $ 251,424

Lorillard, Inc. (a)

    7,559      507,284

Philip Morris International, Inc.

    23,055      1,190,791

Swedish Match AB

    9,795      194,237
         
      $ 2,143,736
         

Trucking – 0.8%

      

FedEx Corp.

    2,380    $ 187,639

J.B. Hunt Transport Services, Inc.

    4,730      174,915

Old Dominion Freight Lines, Inc. (a)

    4,230      155,241

TNT N.V.

    10,836      378,500

United Parcel Service, Inc., “B”

    1,280      80,742

Yamato Holdings Co. Ltd.

    24,000      299,639
         
      $ 1,276,676
         

Utilities - Electric Power – 2.5%

      

American Electric Power Co., Inc.

    9,760    $ 385,520

British Energy Group PLC

    4,450      64,366

CEZ AS

    1,480      123,019

CMS Energy Corp.

    5,750      77,625

 

15

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

Issuer

         Shares/Par    Value ($)

Common Stocks – continued

         

Utilities - Electric Power – continued

         

Dominion Resources, Inc.

       3,640    $ 160,815

DPL, Inc.

       760      19,289

Drax Group PLC

       3,611      51,944

E.ON AG

       3,830      730,521

Edison International

       4,590      221,881

Enersis S.A., ADR

       7,199      128,286

Entergy Corp.

       890      95,159

FirstEnergy Corp.

       3,355      246,760

FPL Group, Inc.

       3,130      201,979

Hong Kong Electric Holdings

       18,000      104,119

Northeast Utilities

       2,410      60,636

NRG Energy, Inc. (a)

       14,471      525,153

Pepco Holdings, Inc.

       5,171      128,965

PG&E Corp.

       12,127      467,253

PPL Corp.

       4,600      216,016

Public Service Enterprise Group, Inc.

       2,190      91,542

SUEZ S.A.

       10      597

Westar Energy, Inc.

       1,430      31,574
            
         $ 4,133,019
            

Total Common Stocks

          $ 142,502,034
            

Bonds – 0.4%

         

International Market Sovereign – 0.4%

         

Royal Bank Of Scotland, 6.15%, 2009

    GBP    350,000    $ 641,852
            

Warrants – 0.2%

         

Issuer

         Shares/Par    Value ($)

Business Services – 0.1%

         

Merrill Lynch International & Co. (Satyam Computer Services Ltd. - Zero Strike Warrant (1 share for 1 warrant)) (a)(n)

       7,470    $ 66,871
            

Computer Software - Systems – 0.0%

         

Merrill Lynch International & Co. (HCL Technologies Ltd. - Zero Strike Warrant (1 share for 1 warrant)) (a)(n)

       4,486    $ 21,223
            

Other Banks & Diversified Financials – 0.1%

         

Merrill Lynch International & Co. (Housing Development - Zero Strike Warrant (1 share for 1 warrant)) (a)(n)

       2,831    $ 150,168
            

Utilities - Electric Power – 0.0%

         

Merrill Lynch International & Co. (NTPC Ltd. - Zero Strike Warrant (1 share for 1 warrant) (a)(n)

       13,970    $ 56,048
            

Total Warrants

          $ 294,310
            

Rights – 0.0%

         

Issuer

    First
Exercise		    Shares/Par    Value ($)

Utilities - Electric Power – 0.0%

         

Suez Environnement S.A. - Zero Strike Right (1 share for 4 rights) (a)

    7/22/08    1,770    $ 12,723
            

Money Market Funds (v) – 5.0%

         

MFS Institutional Money Market Portfolio, 2.56%, at Net Asset Value

       8,120,831    $ 8,120,831
            

Total Investments (k)

          $ 151,571,750
            

Other Assets, Less Liabilities – 7.3%

            12,010,333
            

Net Assets – 100.0%

          $ 163,582,083
            

 

(a) Non-income producing security.

 

16

MFS Diversified Target Return Fund

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/08 - continued

 

(k) As of July 31, 2008, the fund had 201 securities that were fair valued, aggregating $38,095,826 and 25.13% of market value, in accordance with the policies adopted by the Board of Trustees.

 

(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 $294,130, representing 2.1% of net assets.

 

(v) Underlying fund that is available only to investment companies managed by MFS. The rate quoted is the annualized sevenday yield of the fund at period end.

The following abbreviations are used in this report and are defined:

 

ADR    American Depository Receipt
GDR    Global Depository Receipt
IEU    International Equity Unit
IPS    International Preference Stock
REIT    Real Estate Investment Trust

Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of abbreviations is shown below:

 

AUD    Australian Dollar
BRL    Brazilian Real
CAD    Canadian Dollar
CHF    Swiss Franc
EUR    Euro
GBP    British Pound
HKD    Hong Kong Dollar
JPY    Japanese Yen
MXN    Mexican Peso
MYR    Malaysian Ringgit
NZD    New Zealand Dollar
SEK    Swedish Krona
SGD    Singapore Dollar
TWD    Taiwan Dollar
ZAR    South African Rand

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

 

17

MFS Diversified Target Return Fund

Supplemental Information (Unaudited) 7/31/08

(1) Portfolio Securities

The cost and unrealized appreciation and depreciation in the value of the investments owned by the fund, as computed on a federal income tax basis, are as follows:

 

Aggregate Cost

    $ 159,455,478  
        

Gross unrealized appreciation

    $ 3,278,378  

Gross unrealized depreciation

      (11,162,106 )
        

Net unrealized appreciation (depreciation)

    $ (7,883,728 )
        

(2) Derivative Contracts at 7/31/08

Forward Foreign Currency Exchange Contracts at 7/31/08

 

Type

    Currency    Contracts to
Deliver/Receive		    Settlement Date
Range		    In Exchange For    Contracts
at Value		    Net Unrealized
Appreciation
(Depreciation)		  

Appreciation

                  

BUY

    AUD    1,295,000    9/25/08    $ 1,168,293    $ 1,211,460    $ 43,167  

SELL

    AUD    630,000    8/25/08      591,942      591,879      63  

SELL

    CAD    12,130,706    9/25/08      12,074,441      11,845,472      228,969  

SELL

    EUR    2,591,394    8/25/08      4,034,955      4,018,350      16,605  

SELL

    GBP    13,844,555    10/24/08      27,538,970      27,273,242      265,728  

SELL

    HKD    3,665,000    10/24/08      470,918      470,457      461  

SELL

    JPY    100,100,000    8/25/08      960,256      928,938      31,318  

BUY

    MXN    11,070,000    10/24/08      1,069,227      1,089,518      20,291  

BUY

    MYR    9,060,000    9/25/08      2,781,786      2,782,043      257  

SELL

    NZD    11,340,000    10/24/08      8,628,152      8,223,428      404,724  

BUY

    SEK    5,390,000    9/25/08      888,037      888,254      217  

SELL

    SEK    9,670,000    9/25/08      1,614,254      1,593,583      20,671  

BUY

    ZAR    22,390,000    10/24/08      2,881,430      2,990,993      109,563  
                       
                  $ 1,142,034  
                       

Depreciation

                  

SELL

    AUD    9,215,000    8/25/08 - 9/25/08    $ 8,585,286    $ 8,655,182    $ (69,896 )

SELL

    BRL    2,700,000    9/25/08      1,634,383      1,704,378      (69,995 )

SELL

    CAD    1,815,000    9/25/08      1,769,947      1,772,426      (2,479 )

BUY

    CHF    15,735,000    10/24/08      15,500,630      15,024,922      (475,708 )

SELL

    EUR    26,725,000    8/25/08      41,362,230      41,624,188      (261,958 )

BUY

    JPY    332,000,000    9/25/08      3,346,341      3,086,807      (259,534 )

BUY

    NZD    3,806,552    8/25/2008      2,820,782      2,785,559      (35,223 )

BUY

    SEK    61,490,000    9/25/08      10,204,758      10,133,343      (71,415 )

BUY

    SGD    2,780,000    10/24/08      2,068,078      2,040,832      (27,246 )

BUY

    TWD    247,400,000    9/25/08      8,242,545      8,076,878      (165,667 )
                       
                  $ (1,439,121 )
                       

 

18

MFS Diversified Target Return Fund

Supplemental Information (Unaudited) 7/31/08

Futures contracts outstanding at 7/31/08

 

Description

    Currency    Contracts    Value    Expiration
Date		    Unrealized
Appreciation
(Depreciation)		  

AEX 25 Index (Long)

    EUR    131    $ 16,255,150    Aug-08    $ 561,242  

Australian Bond 10 yr (Long)

    AUD    149      13,825,978    Sep-08      447,368  

Australian SPI 200 (Short)

    AUD    90      10,552,551    Sep-08      914,751  

CAC 40 Index (Short)

    EUR    18      1,235,628    Aug-08      (86,235 )

Canadian Bond 10 yr (Short)

    CAD    113      13,108,618    Sep-08      (71,865 )

Canadian S&P/TSX 60 Index Fund (Short)

    CAD    112      17,799,179    Sep-08      1,437,227  

DAX Index (Short)

    EUR    25      6,358,816    Sep-08      372,527  

DJ Euro Stoxx 50 (Short)

    EUR    89      4,689,148    Sep-08      80,588  

E-mini S&P MidCap 400 (Short)

    USD    186      14,952,540    Sep-08      1,069,146  

Euro Bond (Long)

    EUR    70      12,280,185    Sep-08      36,571  

FTSE 100 Index (Long)

    GBP    128      13,718,727    Sep-08      (917,466 )

FTSE/JSE Top 40 Index (Short)

    ZAR    92      3,251,276    Sep-08      486,836  

Hang Seng Index (Short)

    HKD    29      4,232,946    Aug-08      22,884  

IBEX 35 (Long)

    EUR    5      923,154    Aug-08      42,985  

Japan Bond 10 yr (Short)

    JPY    22      27,815,553    Sep-08      (462,047 )

MSCI Singapore Free Index (Short)

    SGD    47      2,456,268    Aug-08      21,149  

MSCI Taiwan Index (Long)

    USD    114      3,076,860    Aug-08      12,344  

Nikkei 225 Index (Long)

    JPY    50      6,191,491    Sep-08      (398,484 )

OMX Index (Short)

    SEK    155      2,233,686    Aug-08      (136,543 )

Russell 2000 Index (Short)

    USD    29      10,374,750    Sep-08      243,149  

S&P 500 Future (Short)

    USD    82      25,975,550    Sep-08      1,517,063  

S&P/MIB Index (Long)

    EUR    26      5,777,629    Sep-08      (309,258 )

Topix Index (Short)

    JPY    74      8,926,777    Sep-08      738,275  

U.S. Treasury Note 10 yr (Long)

    USD    54      6,200,719    Sep-08      27,424  
                    
               $ 5,649,631  
                    

The fund segregated $10,635,058 as cash collateral for open futures contracts.

Swap Agreements at 7/31/08

 

Expiration

         Notional
Amount		   

Counterparty

   

Cash Flows
to Receive

    Cash Flows
to Pay		    Value  

Interest Rate Swaps

                  

10/25/37

    JPY    245,000,000   

(a)Morgan Stanley Capital Services, Inc.

    6-Month LIBOR    2.46% (fixed rate)    $ (28,000 )

10/25/37

    GBP    3,500,000   

(b)Citibank

    6-Month LIBOR    4.75% (fixed rate)      (133,593 )

10/25/37

    GBP    3,500,000   

(c)Citibank

    3.50% (fixed rate)    UK Retail Price Index      (776,565 )

10/25/37

    GBP    1,500,000   

(d)Morgan Stanley Capital Services, Inc.

    6-Month LIBOR    4.75% (fixed rate)      (99,217 )

10/25/37

    GBP    1,000,000   

(e)JPMorgan Chase Bank

    3.50% (fixed rate)    UK Retail Price Index      (184,088 )

10/25/37

    GBP    750,000   

(f)Merrill Lynch Capital Services

    3.50% (fixed rate)    UK Retail Price Index      (138,066 )

10/25/37

    GBP    1,000,000   

(g)Morgan Stanley Capital Services, Inc.

    6-Month LIBOR    4.75% (fixed rate)      (20,005 )

10/25/37

    GBP    2,000,000   

(h)Deutsche Bank

    3.50% (fixed rate)    UK Retail Price Index      (368,175 )

4/01/38

    GBP    1,500,000   

(i)JPMorgan Chase Bank

    6-Month LIBOR    4.69% (fixed rate)      (56,102 )

4/01/38

    JPY    150,000,000   

(j)Merrill Lynch Capital Services

    6-Month LIBOR    2.32% (fixed rate)      33,255  
                       
                  $ (1,770,556 )
                       

 

19

MFS Diversified Target Return Fund

Supplemental Information (Unaudited) 7/31/08

Swap Agreements at 7/31/08 – continued

 

Expiration

         Notional
Amount		   

Counterparty

   

Cash Flows

to Receive

    Cash Flows
to Pay		    Value  

Credit Default Swaps

                  

12/20/12

    USD    3,465,000   

(k)Merrill Lynch International

    3.75% (fixed rate)    (1)    $ (297,470 )

12/20/12

    USD    3,960,000   

(l)JPMorgan Chase Bank

    3.75% (fixed rate)    (1)      (340,378 )

12/20/12

    USD    4,000,000   

(m)JPMorgan Chase Bank

    (2)    1.75% (fixed rate)      72,511  

6/20/13

    EUR    12,500,000   

(n)JPMorgan Chase Bank

    6.50% (fixed rate)    (3)      1,103,800  

6/20/13

    USD    10,500,000   

(o)JPMorgan Chase Bank

    1.55% (fixed rate)    (4)      133,702  

6/20/13

    USD    4,750,000   

(p)Merrill Lynch International

    1.55% (fixed rate)    (4)      60,280  

6/20/13

    USD    1,800,000   

(q)Citibank

    (5)    2.65% (fixed rate)      (23,922 )

6/20/13

    USD    3,800,000   

(r)Morgan Stanley Capital Services, Inc.

    (5)    2.65% (fixed rate)      (50,223 )

6/20/13

    USD    3,000,000   

(s)Merrill Lynch International

    (5)    2.65% (fixed rate)      (39,649 )

6/20/13

    USD    3,250,000   

(t)Morgan Stanley Capital Services, Inc.

    5.00% (fixed rate)    (6)      (182,692 )

6/20/13

    USD    5,500,000   

(u)Merrill Lynch International

    5.00% (fixed rate)    (6)      (309,935 )

6/20/13

    USD    6,000,000   

(v)JPMorgan Chase Bank

    5.00% (fixed rate)    (6)      (337,278 )
                       
                  $ (211,254 )
                       

 

(1) Fund to pay notional amount upon a defined credit event by a reference obligation specified in the CDX.NA.HY.9 Index.

 

(2) Fund to receive notional amount upon a defined credit event by a reference obligation specified in the CDX.EM.8 Index.

 

(3) Fund to pay notional amount upon a defined credit event by a reference obligation specified in the ITRAXX EUR XOVER9 Index.

 

(4) Fund to pay notional amount upon a defined credit event by a reference obligation specified in the CDX.NA.IG.10 Index.

 

(5) Fund to receive notional amount upon a defined credit event by a reference obligation specified in the CDX.EM.9 Index.

 

(6) Fund to pay notional amount upon a defined credit event by a reference obligation specified in the CDX.NA.HY.10 Index.

 

(a) Net unamortized premiums paid by the fund amounted to $2,029.

 

(b) Net unamortized premiums paid by the fund amounted to $3,150.

 

(c) Net unamortized premiums received by the fund amounted to $132,062.

 

(d) Net unamortized premiums received by the fund amounted to $11,784.

 

(e) Net unamortized premiums received by the fund amounted to $106,580.

 

(f) Net unamortized premiums received by the fund amounted to $95,454.

 

(g) Net unamortized premiums received by the fund amounted to $10,714.

 

(h) Net unamortized premiums received by the fund amounted to $411,266.

 

(i) Net unamortized premiums paid by the fund amounted to $52,826.

 

(j) Net unamortized premiums paid by the fund amounted to $44,386.

 

(k) Net unamortized premiums received by the fund amounted to $137,922.

 

(l) Net unamortized premiums received by the fund amounted to $379,318.

 

(m) Net unamortized premiums paid by the fund amounted to $10,404.

 

(n) Net unamortized premiums paid by the fund amounted to $942,312.

 

(o) Net unamortized premiums paid by the fund amounted to $103,334.

 

(p) Net unamortized premiums paid by the fund amounted to $62,368.

 

(q) Net unamortized premiums received by the fund amounted to $22,992.

 

(r) Net unamortized premiums received by the fund amounted to $98,304.

 

(s) Net unamortized premiums received by the fund amounted to $2,338.

 

20

MFS Diversified Target Return Fund

Supplemental Information (Unaudited) 7/31/08

Swap Agreements at 7/31/08 – continued

 

(t) Net unamortized premiums received by the fund amounted to $142,263.

 

(u) Net unamortized premiums received by the fund amounted to $102,083.

 

(v) Net unamortized premiums received by the fund amounted to $459,167.

At July 31, 2008, the fund had sufficient cash and/or other liquid securities to cover any commitments under these derivative contracts.

(3) Transactions in Underlying Funds-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 transactions in securities which the fund assumes to be affiliated issuers during the period ended July 31, 2008, is set forth below:

 

Underlying Funds

    Beginning
Shares/Par
Amount		    Acquisitions
Shares/Par
Amount		    Dispositions
Shares/Par
Amount		     Ending
Shares/Par
Amount

MFS Institutional Money Market Portfolio

    —        146,728,744      (138,607,913 )     8,120,831

Underlying Funds

    Realized
Gain
(Loss)		    Capital Gain
Distributions		    Dividend
Income		     Ending
Value

MFS Institutional Money Market Portfolio

    —      $ —      $ 164,423     $ 8,120,831

 

21

 

ITEM 2. CONTROLS AND PROCEDURES.

 

(a) Based upon their evaluation of the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) as conducted within 90 days of the filing date of this Form N-Q, the registrant’s principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

 

(b) There were no changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

ITEM 3. EXHIBITS.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2): Attached hereto.

Notice

A copy of the Amended and Restated Declaration of Trust, as amended, of the Registrant is on file with the Secretary of State of The Commonwealth of Massachusetts and notice is hereby given that this instrument is executed on behalf of the Registrant by an officer of the Registrant as an officer and not individually and the obligations of or arising out of this instrument are not binding upon any of the Trustees or shareholders individually, but are binding only upon the assets and property of the respective constituent series of the Registrant.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: MFS SERIES TRUST XV

 

By (Signature and Title)*    ROBERT J. MANNING
  Robert J. Manning, President

Date: September 12, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)*    ROBERT J. MANNING
 

Robert J. Manning, President

(Principal Executive Officer)

Date: September 12, 2008

 

By (Signature and Title)*    MARIA F. DWYER
 

Maria F. Dwyer, Treasurer

(Principal Financial Officer

and Accounting Officer)

Date: September 12, 2008

 

* Print name and title of each signing officer under his or her signature.