UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number
811-04492
MFS SERIES TRUST X
(Exact name of registrant as specified in charter)

111 Huntington Avenue, Boston, Massachusetts 02199
(Address of principal executive offices) (Zip code)
Christopher R. Bohane
Massachusetts Financial Services Company
111 Huntington Avenue
Boston, Massachusetts 02199
(Name and address of agents for service)
Registrant's telephone number, including area code:
(617) 954-5000
Date of fiscal year end:
November 30*
Date of reporting period:
May 31, 2026
*This Form N-CSR pertains only to the following series of the Registrant: MFS Global Opportunistic Bond Fund. The remaining series of the Registrant have fiscal year ends other than November 30.
ITEM 1.  REPORTS TO STOCKHOLDERS.
Item 1(a):
MFSLOGO_RED.EPS

MFS® Global Opportunistic
Bond Fund

TSR_Ribbon_red
Class A-MGBAX
Semiannual Shareholder Report
This semiannual shareholder report contains important information about MFS Global Opportunistic Bond Fund for the period of December 1, 2025 to May 31, 2026. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
FUND EXPENSES
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment (annualized)
A $47 0.94%
FUND STATISTICS AS OF 5/31/26
Net Assets ($): 1,025,425,091 Average Effective Maturity (yrs): 8.0
Total Number of Holdings: 934 Average Effective Duration (yrs): 6.5
Portfolio Turnover Rate (%): 58
PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 5/31/26)
Portfolio structure
Long Short Net
Fixed Income 131.9% (7.3)% 124.6%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Composition including fixed income credit
quality
Long Short Net
AAA 7.2% 0.0% 7.2%
AA 10.2% 0.0% 10.2%
A 24.6% 0.0% 24.6%
BBB 22.9% 0.0% 22.9%
BB 11.6% 0.0% 11.6%
B 6.5% 0.0% 6.5%
CCC 1.2% 0.0% 1.2%
U.S. Government 2.6% 0.0% 2.6%
Federal Agencies 7.3% 0.0% 7.3%
Not Rated 37.8% (7.3)% 30.5%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Fixed income sectors
Long Short Net
Non-U.S. Government Bonds 41.2% (3.9)% 37.3%
Emerging Markets Bonds 29.6% (0.9)% 28.7%
Investment Grade Corporates 23.3% 0.0% 23.3%
High Yield Corporates 13.6% 0.0% 13.6%
U.S. Treasury Securities 11.0% (2.5)% 8.5%
Mortgage-Backed Securities 7.3% 0.0% 7.3%
Collateralized Loan Obligations 2.0% 0.0% 2.0%
Commercial Mortgage-Backed Securities 1.5% 0.0% 1.5%
Residential Mortgage-Backed Securities 1.1% 0.0% 1.1%
Municipal Bonds 0.7% 0.0% 0.7%
Asset-Backed Securities 0.6% 0.0% 0.6%
Ratings are assigned using Moody’s, Fitch, and Standard & Poor’s and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.
Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.
Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.
Other includes equivalent exposure from currency derivatives and/or any offsets to derivative positions.
ADDITIONAL INFORMATION
You can find the fund’s summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1‑800‑225‑2606, by visiting mfs.com/proxyvoting, or by visiting the SEC’s website at http://www.sec.gov.
GLBA-SEM
MFSLOGO_RED.EPS

MFS® Global Opportunistic
Bond Fund

TSR_Ribbon_red
Class B-MGBBX
Semiannual Shareholder Report
This semiannual shareholder report contains important information about MFS Global Opportunistic Bond Fund for the period of December 1, 2025 to May 31, 2026. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
FUND EXPENSES
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment (annualized)
B $84 1.68%
FUND STATISTICS AS OF 5/31/26
Net Assets ($): 1,025,425,091 Average Effective Maturity (yrs): 8.0
Total Number of Holdings: 934 Average Effective Duration (yrs): 6.5
Portfolio Turnover Rate (%): 58
PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 5/31/26)
Portfolio structure
Long Short Net
Fixed Income 131.9% (7.3)% 124.6%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Composition including fixed income credit
quality
Long Short Net
AAA 7.2% 0.0% 7.2%
AA 10.2% 0.0% 10.2%
A 24.6% 0.0% 24.6%
BBB 22.9% 0.0% 22.9%
BB 11.6% 0.0% 11.6%
B 6.5% 0.0% 6.5%
CCC 1.2% 0.0% 1.2%
U.S. Government 2.6% 0.0% 2.6%
Federal Agencies 7.3% 0.0% 7.3%
Not Rated 37.8% (7.3)% 30.5%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Fixed income sectors
Long Short Net
Non-U.S. Government Bonds 41.2% (3.9)% 37.3%
Emerging Markets Bonds 29.6% (0.9)% 28.7%
Investment Grade Corporates 23.3% 0.0% 23.3%
High Yield Corporates 13.6% 0.0% 13.6%
U.S. Treasury Securities 11.0% (2.5)% 8.5%
Mortgage-Backed Securities 7.3% 0.0% 7.3%
Collateralized Loan Obligations 2.0% 0.0% 2.0%
Commercial Mortgage-Backed Securities 1.5% 0.0% 1.5%
Residential Mortgage-Backed Securities 1.1% 0.0% 1.1%
Municipal Bonds 0.7% 0.0% 0.7%
Asset-Backed Securities 0.6% 0.0% 0.6%
Ratings are assigned using Moody’s, Fitch, and Standard & Poor’s and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.
Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.
Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.
Other includes equivalent exposure from currency derivatives and/or any offsets to derivative positions.
ADDITIONAL INFORMATION
You can find the fund’s summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1‑800‑225‑2606, by visiting mfs.com/proxyvoting, or by visiting the SEC’s website at http://www.sec.gov.
GLBB-SEM
MFSLOGO_RED.EPS

MFS® Global Opportunistic
Bond Fund

TSR_Ribbon_red
Class C-MGBDX
Semiannual Shareholder Report
This semiannual shareholder report contains important information about MFS Global Opportunistic Bond Fund for the period of December 1, 2025 to May 31, 2026. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
FUND EXPENSES
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment (annualized)
C $84 1.69%
FUND STATISTICS AS OF 5/31/26
Net Assets ($): 1,025,425,091 Average Effective Maturity (yrs): 8.0
Total Number of Holdings: 934 Average Effective Duration (yrs): 6.5
Portfolio Turnover Rate (%): 58
PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 5/31/26)
Portfolio structure
Long Short Net
Fixed Income 131.9% (7.3)% 124.6%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Composition including fixed income credit
quality
Long Short Net
AAA 7.2% 0.0% 7.2%
AA 10.2% 0.0% 10.2%
A 24.6% 0.0% 24.6%
BBB 22.9% 0.0% 22.9%
BB 11.6% 0.0% 11.6%
B 6.5% 0.0% 6.5%
CCC 1.2% 0.0% 1.2%
U.S. Government 2.6% 0.0% 2.6%
Federal Agencies 7.3% 0.0% 7.3%
Not Rated 37.8% (7.3)% 30.5%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Fixed income sectors
Long Short Net
Non-U.S. Government Bonds 41.2% (3.9)% 37.3%
Emerging Markets Bonds 29.6% (0.9)% 28.7%
Investment Grade Corporates 23.3% 0.0% 23.3%
High Yield Corporates 13.6% 0.0% 13.6%
U.S. Treasury Securities 11.0% (2.5)% 8.5%
Mortgage-Backed Securities 7.3% 0.0% 7.3%
Collateralized Loan Obligations 2.0% 0.0% 2.0%
Commercial Mortgage-Backed Securities 1.5% 0.0% 1.5%
Residential Mortgage-Backed Securities 1.1% 0.0% 1.1%
Municipal Bonds 0.7% 0.0% 0.7%
Asset-Backed Securities 0.6% 0.0% 0.6%
Ratings are assigned using Moody’s, Fitch, and Standard & Poor’s and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.
Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.
Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.
Other includes equivalent exposure from currency derivatives and/or any offsets to derivative positions.
ADDITIONAL INFORMATION
You can find the fund’s summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1‑800‑225‑2606, by visiting mfs.com/proxyvoting, or by visiting the SEC’s website at http://www.sec.gov.
GLBC-SEM
MFSLOGO_RED.EPS

MFS® Global Opportunistic
Bond Fund

TSR_Ribbon_red
Class I-MGBJX
Semiannual Shareholder Report
This semiannual shareholder report contains important information about MFS Global Opportunistic Bond Fund for the period of December 1, 2025 to May 31, 2026. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
FUND EXPENSES
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment (annualized)
I $35 0.69%
FUND STATISTICS AS OF 5/31/26
Net Assets ($): 1,025,425,091 Average Effective Maturity (yrs): 8.0
Total Number of Holdings: 934 Average Effective Duration (yrs): 6.5
Portfolio Turnover Rate (%): 58
PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 5/31/26)
Portfolio structure
Long Short Net
Fixed Income 131.9% (7.3)% 124.6%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Composition including fixed income credit quality
Long Short Net
AAA 7.2% 0.0% 7.2%
AA 10.2% 0.0% 10.2%
A 24.6% 0.0% 24.6%
BBB 22.9% 0.0% 22.9%
BB 11.6% 0.0% 11.6%
B 6.5% 0.0% 6.5%
CCC 1.2% 0.0% 1.2%
U.S. Government 2.6% 0.0% 2.6%
Federal Agencies 7.3% 0.0% 7.3%
Not Rated 37.8% (7.3)% 30.5%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Fixed income sectors
Long Short Net
Non-U.S. Government Bonds 41.2% (3.9)% 37.3%
Emerging Markets Bonds 29.6% (0.9)% 28.7%
Investment Grade Corporates 23.3% 0.0% 23.3%
High Yield Corporates 13.6% 0.0% 13.6%
U.S. Treasury Securities 11.0% (2.5)% 8.5%
Mortgage-Backed Securities 7.3% 0.0% 7.3%
Collateralized Loan Obligations 2.0% 0.0% 2.0%
Commercial Mortgage-Backed Securities 1.5% 0.0% 1.5%
Residential Mortgage-Backed Securities 1.1% 0.0% 1.1%
Municipal Bonds 0.7% 0.0% 0.7%
Asset-Backed Securities 0.6% 0.0% 0.6%
Ratings are assigned using Moody’s, Fitch, and Standard & Poor’s and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.
Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.
Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.
Other includes equivalent exposure from currency derivatives and/or any offsets to derivative positions.
ADDITIONAL INFORMATION
You can find the fund’s summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1‑800‑225‑2606, by visiting mfs.com/proxyvoting, or by visiting the SEC’s website at http://www.sec.gov.
GLBI-SEM
MFSLOGO_RED.EPS

MFS® Global Opportunistic
Bond Fund

TSR_Ribbon_red
Class R1-MGBKX
Semiannual Shareholder Report
This semiannual shareholder report contains important information about MFS Global Opportunistic Bond Fund for the period of December 1, 2025 to May 31, 2026. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
FUND EXPENSES
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment (annualized)
R1 $84 1.69%
FUND STATISTICS AS OF 5/31/26
Net Assets ($): 1,025,425,091 Average Effective Maturity (yrs): 8.0
Total Number of Holdings: 934 Average Effective Duration (yrs): 6.5
Portfolio Turnover Rate (%): 58
PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 5/31/26)
Portfolio structure
Long Short Net
Fixed Income 131.9% (7.3)% 124.6%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Composition including fixed income credit quality
Long Short Net
AAA 7.2% 0.0% 7.2%
AA 10.2% 0.0% 10.2%
A 24.6% 0.0% 24.6%
BBB 22.9% 0.0% 22.9%
BB 11.6% 0.0% 11.6%
B 6.5% 0.0% 6.5%
CCC 1.2% 0.0% 1.2%
U.S. Government 2.6% 0.0% 2.6%
Federal Agencies 7.3% 0.0% 7.3%
Not Rated 37.8% (7.3)% 30.5%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Fixed income sectors
Long Short Net
Non-U.S. Government Bonds 41.2% (3.9)% 37.3%
Emerging Markets Bonds 29.6% (0.9)% 28.7%
Investment Grade Corporates 23.3% 0.0% 23.3%
High Yield Corporates 13.6% 0.0% 13.6%
U.S. Treasury Securities 11.0% (2.5)% 8.5%
Mortgage-Backed Securities 7.3% 0.0% 7.3%
Collateralized Loan Obligations 2.0% 0.0% 2.0%
Commercial Mortgage-Backed Securities 1.5% 0.0% 1.5%
Residential Mortgage-Backed Securities 1.1% 0.0% 1.1%
Municipal Bonds 0.7% 0.0% 0.7%
Asset-Backed Securities 0.6% 0.0% 0.6%
Ratings are assigned using Moody’s, Fitch, and Standard & Poor’s and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.
Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.
Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.
Other includes equivalent exposure from currency derivatives and/or any offsets to derivative positions.
ADDITIONAL INFORMATION
You can find the fund’s summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1‑800‑225‑2606, by visiting mfs.com/proxyvoting, or by visiting the SEC’s website at http://www.sec.gov.
GLBR1-SEM
MFSLOGO_RED.EPS

MFS® Global Opportunistic
Bond Fund

TSR_Ribbon_red
Class R2-MGBLX
Semiannual Shareholder Report
This semiannual shareholder report contains important information about MFS Global Opportunistic Bond Fund for the period of December 1, 2025 to May 31, 2026. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
FUND EXPENSES
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment (annualized)
R2 $59 1.19%
FUND STATISTICS AS OF 5/31/26
Net Assets ($): 1,025,425,091 Average Effective Maturity (yrs): 8.0
Total Number of Holdings: 934 Average Effective Duration (yrs): 6.5
Portfolio Turnover Rate (%): 58
PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 5/31/26)
Portfolio structure
Long Short Net
Fixed Income 131.9% (7.3)% 124.6%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Composition including fixed income credit quality
Long Short Net
AAA 7.2% 0.0% 7.2%
AA 10.2% 0.0% 10.2%
A 24.6% 0.0% 24.6%
BBB 22.9% 0.0% 22.9%
BB 11.6% 0.0% 11.6%
B 6.5% 0.0% 6.5%
CCC 1.2% 0.0% 1.2%
U.S. Government 2.6% 0.0% 2.6%
Federal Agencies 7.3% 0.0% 7.3%
Not Rated 37.8% (7.3)% 30.5%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Fixed income sectors
Long Short Net
Non-U.S. Government Bonds 41.2% (3.9)% 37.3%
Emerging Markets Bonds 29.6% (0.9)% 28.7%
Investment Grade Corporates 23.3% 0.0% 23.3%
High Yield Corporates 13.6% 0.0% 13.6%
U.S. Treasury Securities 11.0% (2.5)% 8.5%
Mortgage-Backed Securities 7.3% 0.0% 7.3%
Collateralized Loan Obligations 2.0% 0.0% 2.0%
Commercial Mortgage-Backed Securities 1.5% 0.0% 1.5%
Residential Mortgage-Backed Securities 1.1% 0.0% 1.1%
Municipal Bonds 0.7% 0.0% 0.7%
Asset-Backed Securities 0.6% 0.0% 0.6%
Ratings are assigned using Moody’s, Fitch, and Standard & Poor’s and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.
Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.
Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.
Other includes equivalent exposure from currency derivatives and/or any offsets to derivative positions.
ADDITIONAL INFORMATION
You can find the fund’s summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1‑800‑225‑2606, by visiting mfs.com/proxyvoting, or by visiting the SEC’s website at http://www.sec.gov.
GLBR2-SEM
MFSLOGO_RED.EPS

MFS® Global Opportunistic
Bond Fund

TSR_Ribbon_red
Class R3-MGBMX
Semiannual Shareholder Report
This semiannual shareholder report contains important information about MFS Global Opportunistic Bond Fund for the period of December 1, 2025 to May 31, 2026. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
FUND EXPENSES
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment (annualized)
R3 $47 0.94%
FUND STATISTICS AS OF 5/31/26
Net Assets ($): 1,025,425,091 Average Effective Maturity (yrs): 8.0
Total Number of Holdings: 934 Average Effective Duration (yrs): 6.5
Portfolio Turnover Rate (%): 58
PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 5/31/26)
Portfolio structure
Long Short Net
Fixed Income 131.9% (7.3)% 124.6%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Composition including fixed income credit quality
Long Short Net
AAA 7.2% 0.0% 7.2%
AA 10.2% 0.0% 10.2%
A 24.6% 0.0% 24.6%
BBB 22.9% 0.0% 22.9%
BB 11.6% 0.0% 11.6%
B 6.5% 0.0% 6.5%
CCC 1.2% 0.0% 1.2%
U.S. Government 2.6% 0.0% 2.6%
Federal Agencies 7.3% 0.0% 7.3%
Not Rated 37.8% (7.3)% 30.5%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Fixed income sectors
Long Short Net
Non-U.S. Government Bonds 41.2% (3.9)% 37.3%
Emerging Markets Bonds 29.6% (0.9)% 28.7%
Investment Grade Corporates 23.3% 0.0% 23.3%
High Yield Corporates 13.6% 0.0% 13.6%
U.S. Treasury Securities 11.0% (2.5)% 8.5%
Mortgage-Backed Securities 7.3% 0.0% 7.3%
Collateralized Loan Obligations 2.0% 0.0% 2.0%
Commercial Mortgage-Backed Securities 1.5% 0.0% 1.5%
Residential Mortgage-Backed Securities 1.1% 0.0% 1.1%
Municipal Bonds 0.7% 0.0% 0.7%
Asset-Backed Securities 0.6% 0.0% 0.6%
Ratings are assigned using Moody’s, Fitch, and Standard & Poor’s and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.
Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.
Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.
Other includes equivalent exposure from currency derivatives and/or any offsets to derivative positions.
ADDITIONAL INFORMATION
You can find the fund’s summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1‑800‑225‑2606, by visiting mfs.com/proxyvoting, or by visiting the SEC’s website at http://www.sec.gov.
GLBR3-SEM
MFSLOGO_RED.EPS

MFS® Global Opportunistic
Bond Fund

TSR_Ribbon_red
Class R4-MGBNX
Semiannual Shareholder Report
This semiannual shareholder report contains important information about MFS Global Opportunistic Bond Fund for the period of December 1, 2025 to May 31, 2026. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
FUND EXPENSES
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment (annualized)
R4 $35 0.69%
FUND STATISTICS AS OF 5/31/26
Net Assets ($): 1,025,425,091 Average Effective Maturity (yrs): 8.0
Total Number of Holdings: 934 Average Effective Duration (yrs): 6.5
Portfolio Turnover Rate (%): 58
PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 5/31/26)
Portfolio structure
Long Short Net
Fixed Income 131.9% (7.3)% 124.6%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Composition including fixed income credit quality
Long Short Net
AAA 7.2% 0.0% 7.2%
AA 10.2% 0.0% 10.2%
A 24.6% 0.0% 24.6%
BBB 22.9% 0.0% 22.9%
BB 11.6% 0.0% 11.6%
B 6.5% 0.0% 6.5%
CCC 1.2% 0.0% 1.2%
U.S. Government 2.6% 0.0% 2.6%
Federal Agencies 7.3% 0.0% 7.3%
Not Rated 37.8% (7.3)% 30.5%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Fixed income sectors
Long Short Net
Non-U.S. Government Bonds 41.2% (3.9)% 37.3%
Emerging Markets Bonds 29.6% (0.9)% 28.7%
Investment Grade Corporates 23.3% 0.0% 23.3%
High Yield Corporates 13.6% 0.0% 13.6%
U.S. Treasury Securities 11.0% (2.5)% 8.5%
Mortgage-Backed Securities 7.3% 0.0% 7.3%
Collateralized Loan Obligations 2.0% 0.0% 2.0%
Commercial Mortgage-Backed Securities 1.5% 0.0% 1.5%
Residential Mortgage-Backed Securities 1.1% 0.0% 1.1%
Municipal Bonds 0.7% 0.0% 0.7%
Asset-Backed Securities 0.6% 0.0% 0.6%
Ratings are assigned using Moody’s, Fitch, and Standard & Poor’s and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.
Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.
Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.
Other includes equivalent exposure from currency derivatives and/or any offsets to derivative positions.
ADDITIONAL INFORMATION
You can find the fund’s summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1‑800‑225‑2606, by visiting mfs.com/proxyvoting, or by visiting the SEC’s website at http://www.sec.gov.
GLBR4-SEM
MFSLOGO_RED.EPS

MFS® Global Opportunistic
Bond Fund

TSR_Ribbon_red
Class R6-MGBOX
Semiannual Shareholder Report
This semiannual shareholder report contains important information about MFS Global Opportunistic Bond Fund for the period of December 1, 2025 to May 31, 2026. You can find additional information about the fund at funds.mfs.com. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
FUND EXPENSES
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment (annualized)
R6 $31 0.61%
FUND STATISTICS AS OF 5/31/26
Net Assets ($): 1,025,425,091 Average Effective Maturity (yrs): 8.0
Total Number of Holdings: 934 Average Effective Duration (yrs): 6.5
Portfolio Turnover Rate (%): 58
PORTFOLIO COMPOSITION (BASED ON TOTAL NET ASSETS AS OF 5/31/26)
Portfolio structure
Long Short Net
Fixed Income 131.9% (7.3)% 124.6%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Composition including fixed income credit quality
Long Short Net
AAA 7.2% 0.0% 7.2%
AA 10.2% 0.0% 10.2%
A 24.6% 0.0% 24.6%
BBB 22.9% 0.0% 22.9%
BB 11.6% 0.0% 11.6%
B 6.5% 0.0% 6.5%
CCC 1.2% 0.0% 1.2%
U.S. Government 2.6% 0.0% 2.6%
Federal Agencies 7.3% 0.0% 7.3%
Not Rated 37.8% (7.3)% 30.5%
Cash & Cash Equivalents 3.8% (2.4)% 1.4%
Other 85.0% (111.0)% (26.0)%
Fixed income sectors
Long Short Net
Non-U.S. Government Bonds 41.2% (3.9)% 37.3%
Emerging Markets Bonds 29.6% (0.9)% 28.7%
Investment Grade Corporates 23.3% 0.0% 23.3%
High Yield Corporates 13.6% 0.0% 13.6%
U.S. Treasury Securities 11.0% (2.5)% 8.5%
Mortgage-Backed Securities 7.3% 0.0% 7.3%
Collateralized Loan Obligations 2.0% 0.0% 2.0%
Commercial Mortgage-Backed Securities 1.5% 0.0% 1.5%
Residential Mortgage-Backed Securities 1.1% 0.0% 1.1%
Municipal Bonds 0.7% 0.0% 0.7%
Asset-Backed Securities 0.6% 0.0% 0.6%
Ratings are assigned using Moody’s, Fitch, and Standard & Poor’s and applying a hierarchy: If all 3 agencies rate a security, the middle rating is assigned; if 2 agencies rate a security, the lower rating is assigned. If none of the 3 agencies rate a security, we use DBRS Morningstar. If none of the 4 agencies rate a security, we use Kroll Bond Rating Agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change.
Portfolio Composition presents the value of securities, including equivalent exposure of derivative positions. Equivalent exposure is a reasonable approximation of the amount of the underlying asset the portfolio would have to hold to have the same price sensitivity of the derivative contract. Bonds include any accrued interest amounts.
Cash & Cash Equivalents includes any cash, investments in money market funds, short-term securities, and other assets less liabilities.
Other includes equivalent exposure from currency derivatives and/or any offsets to derivative positions.
ADDITIONAL INFORMATION
You can find the fund’s summary prospectus, prospectus, most recent annual and semiannual reports, financial information, portfolio holdings, and statement of additional information online at funds.mfs.com. Proxy voting information is available without charge by calling 1‑800‑225‑2606, by visiting mfs.com/proxyvoting, or by visiting the SEC’s website at http://www.sec.gov.
GLBR6-SEM

Item 1(b):

Not applicable.


ITEM 2.  CODE OF ETHICS.

During the period covered by this report, the Registrant has not amended any provision in its Code of Ethics (the “Code”) that relates to an element of the Code’s definition enumerated in paragraph (b) of Item 2 of this Form N-CSR. During the period covered by this report, the Registrant did not grant a waiver, including an implicit waiver, from any provision of the Code.


ITEM 3.  AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable for semi-annual reports.


ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable for semi-annual reports.


ITEM 5.  AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable to the Registrant.


ITEM 6.  INVESTMENTS

A schedule of investments for each series covered by this Form N-CSR is included in the financial statements of such series under Item 7 of this Form N-CSR.


MFS Global Opportunistic Bond Fund
ITEM 7.  FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
MFS Global Opportunistic Bond Fund
Portfolio of Investments − 5/31/26 (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 ($)
Bonds – 96.9%
Aerospace & Defense – 0.8%
Airbus SE, 3.375%, 5/13/2033 
 
EUR
904,000
$1,054,297
Boeing Co., 6.388%, 5/01/2031 
 
$
278,000
296,567
Boeing Co., 5.805%, 5/01/2050 
 
 
1,072,000
1,061,266
Honeywell Aerospace, Inc., 4.6%, 3/16/2033 (n)
 
 
461,000
454,210
Honeywell Aerospace, Inc., 4.95%, 3/16/2036 (n)
 
 
623,000
616,245
Huntington Ingalls Industries, Inc., 5.749%, 1/15/2035 
 
 
879,000
912,548
Rheinmetall AG, 3.375%, 5/28/2031 
 
EUR
300,000
351,419
Rolls-Royce Holdings PLC, 3.875%, 5/20/2036 
 
 
410,000
482,454
Thales S.A., 4.25%, 10/18/2031 
 
 
600,000
730,810
TransDigm, Inc., 6.375%, 5/31/2033 (n)
 
$
2,265,000
2,286,747
 
 
 
$8,246,563
Asset-Backed & Securitized – 5.2%
3650R Commercial Mortgage Trust, 2021-PF1, XA, 0.988%, 11/15/2054 (i)
 
$
11,539,340
$368,013
AA Bond Co. Ltd., 5.5%, 7/31/2050 
 
GBP
488,000
645,534
ACREC 2021-FL1 Ltd., C, FLR, 5.89% ((SOFR - 1mo. + 0.11448%) + 2.15%), 10/16/2036 (n)
 
$
2,557,500
2,558,225
Angel Oak Mortgage Trust, 2024-12, A1, 5.653%, 10/25/2069 (n)
 
 
2,289,760
2,300,467
Angel Oak Mortgage Trust, 2024-9, A1, 5.138%, 9/25/2069 (n)
 
 
1,936,277
1,934,113
Angel Oak Mortgage Trust, 2025-1, A2, 5.844%, 1/25/2070 (n)
 
 
977,023
981,167
Arbor Realty Trust, Inc., CLO, 2022-FL1, D, FLR, 6.643% (SOFR - 30 day + 3%), 1/15/2037 (n)
 
 
2,400,000
2,399,981
AREIT 2022-CRE6 Trust, C, FLR, 5.788% (SOFR - 30 day + 2.15%), 1/20/2037 (n)
 
 
533,500
533,514
AREIT 2022-CRE6 Trust, D, FLR, 6.488% (SOFR - 30 day + 2.85%), 1/20/2037 (n)
 
 
569,500
568,702
Arqiva Broadcast Finance PLC, 4.882%, 12/31/2032 
 
GBP
485,333
631,171
Bain Capital Credit CLO Ltd., 2021-7A, BR, FLR, 5.164% (SOFR - 3mo. + 1.5%), 1/22/2035 (n)
 
$
3,802,743
3,802,739
BBCMS Mortgage Trust, 2020-C7, XA, 1.586%, 4/15/2053 (i)
 
 
1,363,610
52,557
BBCMS Mortgage Trust, 2021-C10, XA, 1.191%, 7/15/2054 (i)
 
 
8,697,894
389,022
BBCMS Mortgage Trust, 2021-C9, XA, 1.54%, 2/15/2054 (i)
 
 
14,220,534
805,755
Benchmark 2020-B18 Mortgage Trust, XA, 1.75%, 7/15/2053 (i)
 
 
9,837,471
483,543
Benchmark 2021-B24 Mortgage Trust, XA, 1.078%, 3/15/2054 (i)
 
 
5,969,309
214,641
Benchmark 2021-B26 Mortgage Trust, XA, 0.843%, 6/15/2054 (i)
 
 
18,605,789
551,355
Benchmark 2021-B27 Mortgage Trust, XA, 1.231%, 7/15/2054 (i)
 
 
19,584,432
835,288
Benchmark 2021-B28 Mortgage Trust, XA, 1.216%, 8/15/2054 (i)
 
 
19,875,299
898,493
BMP Commercial Mortgage Trust, 2024-MF23, C, FLR, 5.468% (SOFR - 1mo. + 1.8413%), 6/15/2041 (n)
 
 
941,760
943,526
BMP Commercial Mortgage Trust, 2024-MF23, D, FLR, 6.018% (SOFR - 1mo. + 2.3905%), 6/15/2041 (n)
 
 
754,553
756,911
Business Jet Securities LLC, 2024-1A, A, 6.197%, 5/15/2039 (n)
 
 
936,509
946,759
Business Jet Securities LLC, 2024-1A, B, 6.924%, 5/15/2039 (n)
 
 
55,546
56,427
Business Jet Securities LLC, 2024-2A, A, 5.364%, 9/15/2039 (n)
 
 
701,357
699,163
BX Trust, 2024-PURE, A, FLR, 4.172% (CORRA + 1.9%), 11/15/2041 (n)
 
CAD
1,959,731
1,421,641
BX Trust, 2026-CLS, C, 5.977%, 5/15/2043 (n)
 
$
297,000
298,113
BX Trust, 2026-CLS, D, 7.077%, 5/15/2043 (n)
 
 
311,000
312,942
Cathedral Lake VI Ltd., FLR, 5.517% (SOFR - 3mo. + 1.85%), 4/25/2034 (n)
 
 
1,783,838
1,784,632
CF Hippolyta Issuer LLC, 2020-1, A1, 1.69%, 7/15/2060 (n)
 
 
372,209
310,947
Colt Funding LLC, 2024-1, A1, 5.835%, 2/25/2069 (n)
 
 
622,245
623,463
Commercial Mortgage Pass-Through Certificates, 2021-BN32, XA, 0.704%, 4/15/2054 (i)
 
 
7,343,964
189,478
Commercial Mortgage Pass-Through Certificates, 2021-BN34, XA, 0.957%, 6/15/2063 (i)
 
 
11,230,039
372,908
Commercial Mortgage Pass-Through Certificates, 2021-BN35, XA, 1.022%, 6/15/2064 (i)
 
 
9,024,250
343,506
ELM Trust, 2024-ELM, B10, 5.995%, 6/10/2039 (n)
 
 
1,580,784
1,579,311
ELM Trust, 2024-ELM, C10, 6.189%, 6/10/2039 (n)
 
 
194,910
194,628
ELM Trust, 2024-ELM, D10, 6.625%, 6/10/2039 (n)
 
 
100,000
99,771
GLBFS-SEM
1

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Asset-Backed & Securitized – continued
Empire District Bondco LLC, 4.943%, 1/01/2035 
 
$
1,210,429
$1,217,076
Enterprise Fleet Financing 2024-3 LLC, A2, 5.31%, 4/20/2027 (n)
 
 
108,489
108,646
Enterprise Fleet Financing 2025-1 LLC, A2, 4.65%, 10/20/2027 (n)
 
 
258,415
258,965
Enterprise Fleet Financing 2025-4 LLC, A2, 4.05%, 8/20/2028 (n)
 
 
1,239,000
1,238,204
EQT Trust, 2024-EXTR, B, 5.654%, 7/05/2041 (n)
 
 
606,933
612,899
EQT Trust, 2024-EXTR, C, 6.046%, 7/05/2041 (n)
 
 
151,515
153,208
EQT Trust, 2024-EXTR, D, 6.682%, 7/05/2041 (n)
 
 
150,000
151,654
Fortress CBO Investments Ltd., 2022-FL3, AS, FLR, 5.862% (SOFR - 30 day + 2.25%), 2/23/2039 (n)
 
 
659,003
658,291
KREF 2021-FL2 Ltd., B, FLR, 5.392% ((SOFR - 1mo. + 0.11448%) + 1.65%), 2/15/2039 (n)
 
 
2,155,000
2,153,278
MF1 2022-FL8 Ltd., C, FLR, 5.812% (SOFR - 30 day + 2.2%), 2/19/2037 (n)
 
 
1,130,366
1,125,765
Morgan Stanley Capital I Trust, 2021-L5, XA, 1.178%, 5/15/2054 (i)
 
 
4,971,413
219,438
Morgan Stanley Capital I Trust, 2021-L6, XA, 1.141%, 6/15/2054 (i)
 
 
15,474,398
536,500
OBX Trust, 2024-NQM1, A1, 5.928%, 11/25/2063 (n)
 
 
593,918
595,437
OBX Trust, 2024-NQM2, A1, 5.878%, 12/25/2063 (n)
 
 
1,331,253
1,335,160
OBX Trust, 2024-NQM3, A1, 6.129%, 12/25/2063 (n)
 
 
292,301
293,651
OBX Trust, 2024-NQM8, A1, 6.233%, 5/25/2064 (n)
 
 
907,725
914,790
OBX Trust, 2025-NQM18, A1, 5.057%, 9/25/2065 (n)
 
 
659,549
657,706
PMT Loan Trust, 2025-INV10, A36, FLR, 4.962% (SOFR - 1mo. + 1.35%), 10/01/2056 (n)
 
 
1,245,082
1,246,044
Starwood Commercial Mortgage, 2021-FL2, B, FLR, 5.539% ((SOFR - 1mo. + 0.11448%) + 1.8%), 4/18/2038 (n)
 
 
1,223,000
1,222,780
Starwood Commercial Mortgage, 2021-FL2, C, FLR, 5.84% ((SOFR - 1mo. + 0.11448%) + 2.1%), 4/18/2038 (n)
 
 
238,000
237,762
TCW Gem Ltd., 2020-1A, BR3, FLR, 5.275% (SOFR - 3mo. + 1.6%), 4/20/2034 (n)
 
 
3,150,000
3,150,608
TPG Real Estate Finance, 2025-FL7, AS, FLR, 5.325% (SOFR - 1mo. + 1.7%), 6/18/2043 (n)
 
 
1,297,029
1,299,446
Verus Securitization Trust, 2024-1, A1, 5.712%, 1/25/2069 (n)
 
 
634,931
636,162
Volvo Financial Equipment LLC, 2024-1A, A2, 4.56%, 5/17/2027 (n)
 
 
123,144
123,180
Wells Fargo Commercial Mortgage Trust, 2021-C59, XA, 1.464%, 4/15/2054 (i)
 
 
8,979,502
464,861
Wells Fargo Commercial Mortgage Trust, 2021-C60, XA, 1.49%, 8/15/2054 (i)
 
 
14,630,891
835,905
 
 
 
$53,335,822
Auto & Auto Components – 1.0%
Dealer Tire LLC/DT Issuer LLC, 8%, 2/01/2028 (n)
 
$
2,036,000
$2,011,768
Ford Motor Credit Co. LLC, 5.8%, 3/08/2029 
 
 
514,000
521,598
Ford Motor Credit Co. LLC, 3.305%, 5/17/2029 
 
EUR
590,000
682,436
Ford Motor Credit Co. LLC, 5.73%, 9/05/2030 
 
$
539,000
545,171
Ford Motor Credit Co. LLC, 5.753%, 4/06/2033 
 
 
483,000
481,861
Hyundai Capital America, 6.375%, 4/08/2030 (n)
 
 
825,000
866,004
Hyundai Capital America, 4.5%, 9/18/2030 (n)
 
 
288,000
283,601
New Flyer Holdings, Inc., 9.25%, 7/01/2030 (n)
 
 
1,984,000
2,128,965
RCI Banque S.A., 3.625%, 2/22/2030 
 
EUR
700,000
818,534
Stellantis Financial Services US Corp., 5.4%, 6/15/2029 (n)(w)
 
$
672,000
673,698
Toyota Motor Finance (Netherlands) B.V., 3.25%, 4/23/2030 
 
EUR
740,000
863,949
Volkswagen Bank GmbH, 3.75%, 12/10/2032 
 
 
400,000
463,542
 
 
 
$10,341,127
Brokerage & Asset Managers – 1.0%
Carlyle Group, Inc., 5.05%, 9/19/2035 
 
$
918,000
$886,249
Charles Schwab Corp., 4.914% to 11/14/2035, FLR (SOFR - 1 day + 1.23%) to 11/14/2036 
 
 
1,076,000
1,046,930
Citadel Securities Global Holdings LLC, 5.75%, 3/27/2036 (n)
 
 
1,076,000
1,063,254
Jane Street Group/JSG Finance, Inc., 6.125%, 11/01/2032 (n)
 
 
2,303,000
2,308,775
Jefferies Financial Group, Inc., 5.5%, 2/15/2036 
 
 
1,015,000
988,314
Low Income Investment Fund, 3.386%, 7/01/2026 
 
 
310,000
309,529
Low Income Investment Fund, 3.711%, 7/01/2029 
 
 
555,000
538,683
LPL Holdings, Inc., 4%, 3/15/2029 (n)
 
 
805,000
784,892
LPL Holdings, Inc., 5.65%, 3/15/2035 
 
 
654,000
650,706
LPL Holdings, Inc., 5.75%, 6/15/2035 
 
 
135,000
135,633
2

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Brokerage & Asset Managers – continued
LSEG Netherlands B.V., 3%, 11/06/2031 
 
EUR
770,000
$879,679
LSEG US Financial Corp., 5.297%, 3/28/2034 (n)
 
$
555,000
562,159
 
 
 
$10,154,803
Building – 1.0%
AmeriTex Holdco Intermediate LLC, 7.625%, 8/15/2033 (n)
 
$
2,038,000
$2,122,092
Ferguson Enterprises, Inc., 5%, 10/03/2034 
 
 
1,051,000
1,044,854
Heidelberg Materials AG, 3.5%, 10/10/2029 
 
EUR
730,000
857,820
JH North America Holdings, Inc., 5.875%, 1/31/2031 (n)
 
$
406,000
405,844
JH North America Holdings, Inc., 6.125%, 7/31/2032 (n)
 
 
648,000
649,527
LBM Acquisition LLC, 9.5%, 6/15/2031 (n)
 
 
1,683,000
1,409,184
Quikrete Holdings, Inc., 6.375%, 3/01/2032 (n)
 
 
2,643,000
2,691,272
Vulcan Materials Co., 3.5%, 6/01/2030 
 
 
546,000
522,887
Vulcan Materials Co., 5.7%, 12/01/2054 
 
 
532,000
525,965
 
 
 
$10,229,445
Business Services – 0.9%
ams-OSRAM AG, 10.5%, 3/30/2029 
 
EUR
1,714,000
$2,117,368
Black Pearl Compute LLC, 6.125%, 2/15/2031 (n)
 
$
2,265,000
2,304,435
Fiserv, Inc., 4.4%, 7/01/2049 
 
 
675,000
517,851
Paychex, Inc., 5.1%, 4/15/2030 
 
 
312,000
315,577
Paychex, Inc., 5.35%, 4/15/2032 
 
 
770,000
780,052
RELX Finance B.V., 3.25%, 5/22/2029 (w)
 
EUR
300,000
351,330
SV RNO Property Owner 1 LLC, 5.875%, 3/01/2031 (n)
 
$
2,265,000
2,236,566
Visa, Inc., 3.875%, 5/15/2044 
 
EUR
430,000
488,792
 
 
 
$9,111,971
Cable TV – 0.4%
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 6.384%, 10/23/2035 
 
$
394,000
$396,585
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 6.484%, 10/23/2045 
 
 
341,000
315,202
Comcast Corp., 6.05%, 5/15/2055 
 
 
707,000
698,390
Summer BidCo B.V., 8.875%, 1/31/2031 (n)(p)
 
EUR
1,450,609
1,727,279
Videotron Ltd., 3.625%, 6/15/2029 (n)
 
$
965,000
935,174
 
 
 
$4,072,630
Chemicals – 0.5%
FIS Fabbrica Italiana Sintetici S.p.A., 5.25%, 2/05/2031 (n)
 
EUR
1,600,000
$1,869,524
FIS Fabbrica Italiana Sintetici S.p.A., 5.25%, 2/05/2031 
 
 
200,000
233,691
Linde PLC, 3.4%, 2/14/2036 
 
 
400,000
457,087
Maxam Prill S.à r.l., 6%, 7/15/2030 (n)
 
 
1,590,000
1,884,040
Maxam Prill S.à r.l., 6%, 7/15/2030 
 
 
450,000
533,219
Novonesis, B, 3.625%, 3/19/2033 
 
 
280,000
328,465
 
 
 
$5,306,026
Conglomerates – 0.8%
Assa Abloy AB, 3.371%, 9/09/2032 
 
EUR
590,000
$684,494
CompoSecure Holdings LLC, 5.625%, 2/01/2033 (n)
 
$
2,365,000
2,295,800
Eaton Corp. PLC, 4.5%, 3/06/2033 
 
 
200,000
196,615
Eaton Corp. PLC, 4.8%, 3/06/2036 
 
 
471,000
463,351
nVent Finance S.à r.l., 5.65%, 5/15/2033 
 
 
646,000
664,300
Regal Rexnord Corp., 6.05%, 4/15/2028 
 
 
669,000
684,029
Regal Rexnord Corp., 6.4%, 4/15/2033 
 
 
367,000
388,921
Smiths Group PLC, 3.625%, 11/13/2033 
 
EUR
930,000
1,065,785
3

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Conglomerates – continued
Veralto Corp., 4.15%, 9/19/2031 
 
EUR
649,000
$777,704
Westinghouse Air Brake Technologies Corp., 5.611%, 3/11/2034 
 
$
508,000
523,437
Westinghouse Air Brake Technologies Corp., 5.5%, 5/29/2035 
 
 
635,000
649,657
 
 
 
$8,394,093
Construction – 0.2%
Empire Communities Corp., 9.75%, 5/01/2029 (n)
 
$
1,869,000
$1,919,454
Consumer Products – 0.6%
Acushnet Co., 5.625%, 12/01/2033 (n)
 
$
2,604,000
$2,583,640
Galderma Finance Europe B.V., 3.375%, 3/17/2031 
 
EUR
570,000
662,778
Prestige Consumer Healthcare, Inc., 3.75%, 4/01/2031 (n)
 
$
2,926,000
2,685,352
 
 
 
$5,931,770
Consumer Services – 0.4%
Booking Holdings, Inc., 3%, 11/07/2030 
 
EUR
930,000
$1,068,852
Booking Holdings, Inc., 4%, 5/11/2034 
 
 
720,000
846,283
ISS Global A.S., 3.5%, 5/11/2031 
 
 
1,110,000
1,290,222
Pluxee N.V., 3.75%, 9/04/2032 
 
 
700,000
812,652
 
 
 
$4,018,009
Diversified Financial Services – 1.6%
Ares Capital Corp., 5.25%, 4/12/2031 
 
$
547,000
$534,652
Aroundtown S.A., 3%, 10/16/2029 
 
GBP
430,000
534,566
Avolon Holdings Funding Ltd., 5.75%, 3/01/2029 (n)
 
$
509,000
520,278
Avolon Holdings Funding Ltd., 4.95%, 10/15/2032 (n)
 
 
796,000
776,516
Blackstone Secured Lending Fund, 5.35%, 4/13/2028 
 
 
578,000
577,312
Goldman Sachs Private Credit Corp., 6.15%, 6/16/2031 (n)
 
 
506,000
504,021
Intrum Investments & Financing AB, 7.75%, 9/11/2028 (n)
 
EUR
1,307,869
1,482,003
Macquarie AirFinance Holdings Ltd., 5.15%, 3/17/2030 (n)
 
$
524,000
521,782
Macquarie AirFinance Holdings Ltd., 6.5%, 3/26/2031 (n)
 
 
390,000
408,006
Muthoot Finance Ltd., 7.125%, 2/14/2028 (n)
 
 
546,000
555,193
PennyMac Financial Services, Inc., 6.875%, 2/15/2033 (n)
 
 
2,690,000
2,613,201
Shriram Finance Ltd., 6.15%, 4/03/2028 (n)
 
 
1,323,000
1,348,691
Shurgard Luxembourg S.à r.l., 3.625%, 10/22/2034 
 
EUR
1,100,000
1,237,411
Shurgard Luxembourg S.à r.l., 4%, 5/27/2035 
 
 
700,000
800,784
SMBC Aviation Capital Finance DAC, 5.25%, 11/26/2035 (n)
 
$
1,509,000
1,483,242
VGP N.V., 2.25%, 1/17/2030 
 
EUR
400,000
439,337
Walker & Dunlop, Inc., 6.625%, 4/01/2033 (n)
 
$
2,379,000
2,404,941
 
 
 
$16,741,936
Emerging Market Quasi-Sovereign – 2.5%
Abu Dhabi Developmental Holding Co. PJSC, 5.5%, 5/08/2034 (n)
 
$
1,958,000
$2,000,100
Bank Gospodarstwa Krajowego (Republic of Poland), 5.75%, 7/09/2034 (n)
 
 
1,494,000
1,552,738
Chile Electricity Lux MPC II S.à r.l., 5.58%, 10/20/2035 (n)
 
 
494,617
502,432
Codelco, Inc. (Republic of Chile), 5.529%, 1/30/2037 (n)
 
 
628,000
621,280
Corporacion Financiera de Desarrollo S.A. (Republic of Peru), 5.5%, 5/06/2030 (n)
 
 
615,000
623,727
Dua Capital Ltd. (Federation of Malaysia), 2.78%, 5/11/2031 
 
 
2,465,000
2,259,222
Empresa Nacional del Petroleo (Republic of Chile), 5.95%, 7/30/2034 (n)
 
 
1,041,000
1,068,606
Indian Railway Finance Corp., 2.8%, 2/10/2031 
 
 
1,850,000
1,690,467
JSC National Co. Kazakhstan Temir Zholy, 4.875%, 4/29/2031 (n)
 
 
492,000
484,391
MVM Energetika Zartkoruen Mukodo Reszvenytarsasag (Republic of Hungary), 6.5%, 3/13/2031 
 
 
1,460,000
1,529,010
Navoi Mining & Metallurgical Co. (Republic of Uzbekistan), 6.7%, 10/17/2028 
 
 
1,418,000
1,459,670
4

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Emerging Market Quasi-Sovereign – continued
OCP S.A. (Kingdom of Morocco), 3.75%, 6/23/2031 (n)
 
$
677,000
$624,638
Office Cherifien des Phosphates S.A. (Kingdom of Morocco), 6.75%, 5/02/2034 (n)
 
 
1,038,000
1,091,279
Petroleos Mexicanos, 10%, 2/07/2033 
 
 
748,000
878,526
Petroleos Mexicanos, 7.69%, 1/23/2050 
 
 
1,388,000
1,270,082
PETRONAS Capital Ltd. (Federation of Malaysia), 5.34%, 4/03/2035 (n)
 
 
1,740,000
1,795,407
PT Perusahaan Listrik Negara (Republic of Indonesia), 5.45%, 2/03/2036 (n)
 
 
1,084,000
1,055,409
Saudi Arabian Oil Co., 5%, 2/02/2036 (n)
 
 
1,196,000
1,169,466
State Oil Company of the Azerbaijan Republic, 6.95%, 3/18/2030 
 
 
1,481,000
1,588,080
Telecommunications Co. (Republic of Serbia), 7.25%, 5/18/2031 (n)
 
 
1,244,000
1,242,501
Uzbek Industrial & Construction Bank ATB (Republic of Uzbekistan), 8.95%, 7/24/2029 (n)
 
 
992,000
1,067,023
 
 
 
$25,574,054
Emerging Market Sovereign – 18.9%
Czech Republic, 5.3%, 9/19/2035 
 
CZK
119,500,000
$5,974,176
Eagle Funding LuxCo S.à r.l. (United Mexican States), 5.5%, 8/17/2030 (n)
 
$
769,000
773,406
Federal Republic of Nigeria, 7.875%, 2/16/2032 
 
 
1,168,000
1,234,224
Federative Republic of Brazil, 10%, 1/01/2035 
 
BRL
115,577,000
18,542,799
Hellenic Republic (Republic of Greece), 3.375%, 6/16/2036 (n)
 
EUR
5,364,000
6,145,196
Hellenic Republic (Republic of Greece), 4.125%, 6/15/2054 
 
 
3,954,000
4,471,092
Kingdom of Saudi Arabia, 4.875%, 1/12/2036 (n)
 
$
3,134,000
3,097,097
Oriental Republic of Uruguay, 8.25%, 5/21/2031 
 
UYU
38,028,000
984,209
Oriental Republic of Uruguay, 9.75%, 7/20/2033 
 
 
93,420,000
2,597,935
Oriental Republic of Uruguay, 8%, 10/29/2035 
 
 
125,763,733
3,203,850
People's Republic of China, 3.13%, 11/21/2029 
 
CNY
65,610,000
10,336,634
People's Republic of China, 1.43%, 1/25/2030 
 
 
122,850,000
18,207,963
People's Republic of China, 1.63%, 10/25/2030 
 
 
27,300,000
4,068,792
People's Republic of China, 2.88%, 2/25/2033 
 
 
113,660,000
18,275,647
People's Republic of China, 1.83%, 8/25/2035 
 
 
33,000,000
4,916,428
Republic of Bulgaria, 5%, 3/05/2037 
 
$
1,192,000
1,166,275
Republic of Chile, 2.55%, 7/27/2033 
 
 
452,000
387,816
Republic of Chile, 4.34%, 3/07/2042 
 
 
1,000,000
881,500
Republic of Costa Rica, 7.3%, 11/13/2054 
 
 
1,766,000
1,972,640
Republic of Cote d'Ivoire, 8.25%, 1/30/2037 
 
 
747,000
825,050
Republic of Cote d'Ivoire, 6.875%, 10/17/2040 
 
EUR
1,521,000
1,794,651
Republic of Guatemala, 6.05%, 8/06/2031 (n)
 
$
1,545,000
1,599,137
Republic of Hungary, 5.5%, 6/16/2034 
 
 
1,534,000
1,554,671
Republic of Hungary, 6%, 9/26/2035 (n)
 
 
1,460,000
1,519,127
Republic of Korea, 1.875%, 6/10/2029 
 
KRW
15,314,110,000
9,616,806
Republic of Korea, 2.5%, 9/10/2030 
 
 
26,500,000,000
16,569,918
Republic of Korea, 1.5%, 12/10/2030 
 
 
24,350,000,000
14,520,536
Republic of Paraguay, 6%, 2/09/2036 (n)
 
$
725,000
759,546
Republic of Paraguay, 5.6%, 3/13/2048 
 
 
2,000,000
1,861,940
Republic of Peru, 5.375%, 2/08/2035 
 
 
1,561,000
1,575,049
Republic of Peru, 6.85%, 8/12/2035 
 
PEN
29,090,000
8,867,165
Republic of Poland, 5.375%, 2/12/2035 
 
$
1,476,000
1,499,320
Republic of Romania, 6.375%, 1/30/2034 
 
 
2,014,000
2,044,327
Republic of Romania, 3.75%, 2/07/2034 
 
EUR
1,386,000
1,456,771
Republic of Serbia, 6%, 6/12/2034 (n)
 
$
665,000
682,678
Republic of South Africa, 7.1%, 11/19/2036 (n)
 
 
1,926,000
2,060,243
Republic of South Africa, 8.75%, 2/28/2048 
 
ZAR
181,589,000
10,902,790
Republic of South Africa, 7.25%, 12/11/2055 (n)
 
$
200,000
197,232
Sultanate of Oman, 7%, 1/25/2051 
 
 
2,550,000
2,888,866
United Mexican States, 7.5%, 5/26/2033 
 
MXN
76,600,000
4,083,213
 
 
 
$194,116,715
5

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Energy - Independent – 1.1%
Aker BP ASA, 4%, 5/29/2032 
 
EUR
660,000
$780,715
APA Corp., 6.1%, 2/15/2035 
 
$
194,000
201,618
APA Corp., 6.75%, 2/15/2055 
 
 
353,000
370,986
Azule Energy Finance PLC, 8.25%, 1/22/2031 (n)
 
 
1,038,000
1,058,414
California Resources Corp., 7%, 1/15/2034 (n)
 
 
1,888,000
1,903,236
Chord Energy Corp., 6%, 10/01/2030 (n)
 
 
2,209,000
2,236,506
Comstock Resources, Inc., 6.75%, 3/01/2029 (n)
 
 
2,172,000
2,134,074
Occidental Petroleum Corp., 6.45%, 9/15/2036 
 
 
777,000
843,788
Pioneer Natural Resources Co., 2.15%, 1/15/2031 
 
 
596,000
536,624
Santos Finance Ltd., 5.75%, 11/13/2035 (n)
 
 
1,046,000
1,058,522
Var Energi ASA, 3.875%, 3/12/2031 
 
EUR
570,000
668,298
 
 
 
$11,792,781
Energy - Integrated – 0.7%
BP Capital Markets B.V., 0.933%, 12/04/2040 
 
EUR
760,000
$574,497
BP Capital Markets PLC, 6%, 12/31/2164 
 
GBP
880,000
1,200,364
Eni S.p.A., 4.25%, 5/19/2033 
 
EUR
630,000
765,039
Eni S.p.A., 4%, 5/26/2035 
 
 
1,090,000
1,283,464
Eni S.p.A., 6%, 5/18/2056 (n)
 
$
872,000
869,826
Exxon Mobil Corp., 1.408%, 6/26/2039 
 
EUR
1,010,000
871,903
Orlen S.A., 6%, 1/30/2035 
 
$
1,790,000
1,854,514
 
 
 
$7,419,607
Entertainment & Leisure – 0.8%
Pinnacle Bidco PLC, 10%, 10/11/2028 
 
GBP
1,519,000
$2,128,572
Royal Caribbean Cruises Ltd., 5.625%, 9/30/2031 (n)
 
$
595,000
600,221
Royal Caribbean Cruises Ltd., 6%, 2/01/2033 (n)
 
 
494,000
500,806
Six Flags Entertainment Corp., 6.625%, 5/01/2032 (n)
 
 
1,542,000
1,575,724
Six Flags Entertainment Corp./Canada Wonderland Co., 8.625%, 1/15/2032 (n)
 
 
829,000
851,300
Viking Cruises Ltd. Co., 5.875%, 10/15/2033 (n)
 
 
1,112,000
1,114,226
Viking Ocean Cruises Ship VII Ltd., 5.625%, 2/15/2029 (n)
 
 
1,775,000
1,775,374
 
 
 
$8,546,223
Food & Beverages – 1.5%
Anheuser-Busch InBev Worldwide, Inc., 4.375%, 4/15/2038 
 
$
554,000
$518,841
Anheuser-Busch InBev Worldwide, Inc., 4.125%, 5/19/2045 
 
EUR
230,000
258,658
Anheuser-Busch InBev Worldwide, Inc., 5.55%, 1/23/2049 
 
$
697,000
687,070
Arla Foods Amba, 3.375%, 5/22/2029 
 
EUR
330,000
386,271
Bacardi-Martini B.V., 5.4%, 6/15/2033 (n)
 
$
1,330,000
1,326,574
Central American Bottling Corp., 5.25%, 4/27/2029 (n)
 
 
960,000
943,457
Chobani LLC/Chobani Finance Corp., 6.375%, 4/15/2034 (n)
 
 
2,300,000
2,338,088
Flowers Foods, Inc., 5.75%, 3/15/2035 
 
 
238,000
229,747
Gruma S.A.B. de C.V., 5.39%, 12/09/2034 (n)
 
 
426,000
423,159
Heineken N.V., 3.505%, 5/03/2034 
 
EUR
1,180,000
1,364,075
JBS N.V./JBS USA Foods Group Holdings, Inc./JBS USA Food Co., 3.625%, 1/15/2032 
 
$
542,000
500,417
JBS N.V./JBS USA Foods Group Holdings, Inc./JBS USA Food Co., 5.5%, 1/15/2036 
 
 
697,000
695,418
JBS N.V./JBS USA Foods Group Holdings, Inc./JBS USA Food Co., 6.5%, 12/01/2052 
 
 
507,000
512,464
Kraft Heinz Foods Co., 4.375%, 6/01/2046 
 
 
180,000
144,515
Magnum ICC Finance B.V., 3.75%, 11/26/2034 
 
EUR
800,000
924,300
Magnum ICC Finance B.V., 4%, 11/26/2037 
 
 
620,000
709,754
Maple Parent Holdings Corp., 4.728%, 3/26/2035 
 
 
660,000
782,246
Mars, Inc., 4.8%, 3/01/2030 (n)
 
$
380,000
382,723
Mars, Inc., 5.2%, 3/01/2035 (n)
 
 
998,000
1,004,719
6

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Food & Beverages – continued
Mars, Inc., 5.7%, 5/01/2055 (n)
 
$
1,054,000
$1,039,729
 
 
 
$15,172,225
Forest & Paper Products – 0.1%
Mondi Finance PLC, 3.75%, 5/18/2033 
 
EUR
800,000
$920,125
Smurfit Kappa Treasury Co., 3.489%, 11/24/2031 
 
 
250,000
290,368
 
 
 
$1,210,493
Global Systemically Important Banks – 1.9%
Bank of America Corp., 5.202% to 4/25/2028, FLR (SOFR - 1 day + 1.63%) to 4/25/2029 
 
$
268,000
$271,361
Bank of America Corp., 2.687% to 4/22/2031, FLR (SOFR - 1 day + 1.32%) to 4/22/2032 
 
 
577,000
523,806
Bank of America Corp., 5.464% to 5/09/2035, FLR (SOFR - 1 day + 1.64%) to 5/09/2036 
 
 
1,347,000
1,375,751
BNP Paribas S.A., 6.875% to 12/15/2033, FLR (CMT - 5yr. + 2.853%) to 12/31/2164 (n)
 
 
724,000
719,241
Goldman Sachs Group, Inc., 4.692% to 10/23/2029, FLR (SOFR - 1 day + 1.135%) to 10/23/2030 
 
 
769,000
767,785
Goldman Sachs Group, Inc., 5.016% to 10/23/2034, FLR (SOFR - 1 day + 1.42%) to 10/23/2035 
 
 
794,000
782,261
Goldman Sachs Group, Inc., 5.065% to 1/21/2036, FLR (SOFR - 1 day + 1.19%) to 1/21/2037 
 
 
821,000
803,155
HSBC Holdings PLC, 5.13% to 3/03/2030, FLR (SOFR - 1 day + 1.29%) to 3/03/2031 
 
 
518,000
522,803
HSBC Holdings PLC, 4.086% to 5/12/2035, FLR (EURIBOR - 3mo. + 1.162%) to 5/12/2036 
 
EUR
390,000
460,128
HSBC Holdings PLC, 5.279% to 3/10/2036, FLR (SOFR - 1 day + 1.55%) to 3/10/2037 
 
$
920,000
910,240
HSBC Holdings PLC, 6.75% to 5/18/2033, FLR (CMT - 5yr. + 2.513%) to 12/31/2099 
 
 
422,000
423,797
JPMorgan Chase & Co., 5.581% to 4/22/2029, FLR (SOFR - 1 day + 1.16%) to 4/22/2030 
 
 
739,000
757,862
JPMorgan Chase & Co., 1.953% to 2/04/2031, FLR (SOFR - 1 day + 1.065%) to 2/04/2032 
 
 
1,254,000
1,105,895
JPMorgan Chase & Co., 3.588%, 1/23/2036 
 
EUR
810,000
930,412
JPMorgan Chase & Co., 5.502% to 1/24/2035, FLR (SOFR - 1 day + 1.315%) to 1/24/2036 
 
$
1,319,000
1,349,583
JPMorgan Chase & Co., 3.328% to 4/22/2051, FLR (SOFR - 1 day + 1.58%) to 4/22/2052 
 
 
352,000
243,464
Mitsubishi UFJ Financial Group, Inc., 5.188%, 9/12/2036 
 
 
912,000
910,559
Morgan Stanley, 3.622% to 4/01/2030, FLR (SOFR - 1 day + 3.12%) to 4/01/2031 
 
 
1,097,000
1,053,184
Morgan Stanley, 5.424% to 7/21/2033, FLR (SOFR - 1 day + 1.88%) to 7/21/2034 
 
 
1,021,000
1,040,616
UBS Group AG, 3.125%, 2/13/2031 
 
EUR
890,000
1,029,695
UBS Group AG, 2.746% to 2/11/2032, FLR (CMT - 1yr. + 1.1%) to 2/11/2033 (n)
 
$
1,447,000
1,282,160
UBS Group AG, 5.58%, 5/09/2036 (n)
 
 
270,000
275,258
UBS Group AG, 4.375% to 2/10/2031, FLR (CMT - 1yr. + 3.313%) to 12/31/2164 (n)
 
 
1,182,000
1,079,617
Wells Fargo & Co., 3.526% to 3/24/2027, FLR (SOFR - 1 day + 1.51%) to 3/24/2028 
 
 
554,000
550,168
Wells Fargo & Co., 3.35% to 3/02/2032, FLR (SOFR - 1 day + 1.5%) to 3/02/2033 
 
 
743,000
684,146
 
 
 
$19,852,947
Industrial – 0.5%
Arcadis N.V., 4%, 5/20/2031 
 
EUR
520,000
$605,802
Booz Allen Hamilton, Inc., 5.95%, 4/15/2035 
 
$
430,000
434,445
Multiversity S.p.A., 7.125%, 5/17/2031 (n)
 
EUR
431,000
525,155
Multiversity S.p.A., 7.125%, 5/17/2031 
 
 
1,525,000
1,858,149
WSP Global, Inc., 5.039%, 9/18/2031 (n)
 
$
428,000
426,104
WSP Global, Inc., 5.714%, 9/18/2036 (n)
 
 
992,000
989,150
 
 
 
$4,838,805
Insurance – 0.6%
Aviva PLC, 4.625% to 8/28/2036, FLR (EURIBOR - 3mo. + 3.05%) to 8/28/2056 
 
EUR
1,090,000
$1,292,929
Corebridge Financial, Inc., 4.35%, 4/05/2042 
 
$
978,000
824,079
Corebridge Global Funding, 4.9%, 8/21/2032 (n)
 
 
624,000
618,181
Mapfre S.A., 3.125%, 1/20/2032 
 
EUR
1,100,000
1,266,353
Northwestern Mutual Life Insurance Co., 6.17%, 5/29/2055 (n)
 
$
850,000
881,649
Sammons Financial Group, Inc., 6.875%, 4/15/2034 (n)
 
 
872,000
931,425
 
 
 
$5,814,616
7

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Insurance - Health – 0.3%
Bupa Finance PLC, 6.625%, 11/18/2045 
 
GBP
240,000
$316,623
Horseshoe Funding Trust II, 6.887%, 11/15/2055 (n)
 
$
526,000
543,400
Humana, Inc., 5.375%, 4/15/2031 
 
 
258,000
262,044
Humana, Inc., 5.55%, 5/01/2035 
 
 
795,000
795,929
UnitedHealth Group, Inc., 5.15%, 7/15/2034 
 
 
913,000
923,675
 
 
 
$2,841,671
Insurance - Property & Casualty – 1.3%
American International Group, Inc., 5.125%, 3/27/2033 
 
$
511,000
$516,769
Arthur J. Gallagher & Co., 5%, 2/15/2032 
 
 
166,000
166,177
Arthur J. Gallagher & Co., 6.5%, 2/15/2034 
 
 
347,000
375,312
Arthur J. Gallagher & Co., 5.75%, 3/02/2053 
 
 
616,000
596,992
Asurion LLC, 8%, 12/31/2032 (n)
 
 
2,382,000
2,483,921
Fairfax Financial Holdings Ltd., 4.25%, 12/06/2027 
 
CAD
1,284,000
942,513
Fairfax Financial Holdings Ltd., 5.75%, 5/20/2035 
 
$
637,000
653,222
Fairfax Financial Holdings Ltd., 6.35%, 3/22/2054 
 
 
770,000
797,909
Hub International Ltd., 7.25%, 6/15/2030 (n)
 
 
2,157,000
2,214,050
Hub International Ltd., 7.375%, 1/31/2032 (n)
 
 
379,000
388,263
Liberty Mutual Group, Inc., 3.875%, 9/26/2035 
 
EUR
1,030,000
1,183,350
Marsh & McLennan Cos., Inc., 4.85%, 11/15/2031 
 
$
521,000
524,875
Marsh & McLennan Cos., Inc., 5.4%, 3/15/2055 
 
 
501,000
476,172
Progressive Corp., 5.15%, 3/26/2036 
 
 
642,000
642,319
USI, Inc. of New York, 7.5%, 1/15/2032 (n)
 
 
1,046,000
1,064,882
 
 
 
$13,026,726
International Market Quasi-Sovereign – 1.0%
Aena SME S.A. (Kingdom of Spain), 3.5%, 1/22/2036 
 
EUR
500,000
$572,605
Caixa Geral de Depositos S.A. (Republic of Portugal), 3.625% to 5/20/2031, FLR (EUR ICE Swap Rate - 1yr. + 0.73%)
to 5/20/2032 
 
 
700,000
820,377
Electricite de France S.A., 4.625%, 1/25/2043 
 
 
600,000
695,269
Landsbankinn hf. (Republic of Iceland), 3.75%, 10/08/2029 
 
 
885,000
1,042,235
Landsbankinn hf. (Republic of Iceland), 4%, 5/12/2031 
 
 
895,000
1,053,192
NBN Co. Ltd. (Commonwealth of Australia), 5.75%, 10/06/2028 (n)
 
$
724,000
744,047
NBN Co. Ltd. (Commonwealth of Australia), 3.375%, 11/29/2032 
 
EUR
1,420,000
1,652,683
Ontario Teachers' Cadillac Fairview Properties, 2.5%, 10/15/2031 (n)
 
$
878,000
776,713
P3 Group S.à r.l. (Grand Duchy of Luxembourg), 3.75%, 4/02/2033 
 
EUR
730,000
831,486
SPP-Distribucia A.S. (Republic of Slovakia), 1%, 6/09/2031 
 
 
1,030,000
1,046,088
Swisscom Finance B.V., 3.625%, 11/17/2037 
 
 
1,360,000
1,561,624
 
 
 
$10,796,319
International Market Sovereign – 19.9%
Commonwealth of Australia, 2.75%, 5/21/2041 
 
AUD
9,439,000
$5,146,759
Federal Republic of Germany, 2.5%, 4/16/2031 
 
EUR
2,300,000
2,666,731
Federal Republic of Germany, 2.9%, 2/15/2036 
 
 
1,250,000
1,454,530
Government of Bermuda, 2.375%, 8/20/2030 (n)
 
$
508,000
459,577
Government of Bermuda, 5%, 7/15/2032 (n)
 
 
2,566,000
2,572,774
Government of Canada, 2.25%, 2/01/2028 
 
CAD
22,681,000
16,322,292
Government of Canada, 1.5%, 12/01/2031 
 
 
15,081,000
10,051,703
Government of Canada, 2.75%, 12/01/2055 
 
 
2,532,000
1,496,500
Government of Japan, 1.1%, 6/20/2043 
 
JPY
446,700,000
1,985,040
Government of Japan, 0.4%, 3/20/2050 
 
 
1,963,050,000
5,816,367
Government of Japan, 0.7%, 12/20/2051 
 
 
1,102,000,000
3,365,195
Government of Japan, 2.4%, 3/20/2055 
 
 
1,112,800,000
5,193,160
Government of New Zealand, 4.5%, 5/15/2030 
 
NZD
10,013,000
6,127,244
8

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
International Market Sovereign – continued
Government of New Zealand, 1.5%, 5/15/2031 
 
NZD
7,433,000
$3,945,323
Government of New Zealand, 4.25%, 5/15/2036 
 
 
4,362,000
2,553,801
Kingdom of Spain, 3.9%, 7/30/2039 (n)
 
EUR
4,220,000
5,068,302
Republic of France, 2.7%, 2/25/2031 (n)
 
 
9,185,000
10,599,651
Republic of France, 3.5%, 11/25/2035 (n)
 
 
4,500,000
5,235,085
Republic of France, 4.1%, 5/25/2046 (n)
 
 
4,612,000
5,336,229
Republic of France, 3.25%, 5/25/2055 (n)
 
 
6,990,000
6,650,774
Republic of Italy, 2.85%, 2/01/2031 
 
 
3,078,000
3,567,367
Republic of Italy, 1.45%, 3/01/2036 
 
 
25,228,000
24,284,345
Republic of Italy, 4.1%, 4/30/2046 (n)
 
 
7,500,000
8,617,830
Republic of Italy, 4.3%, 10/01/2054 (n)
 
 
3,849,000
4,410,504
State of Israel, 5%, 1/13/2036 
 
$
2,092,000
2,042,732
United Kingdom Treasury, 4%, 10/22/2031 
 
GBP
26,409,237
34,915,965
United Kingdom Treasury, 4.5%, 3/07/2035 
 
 
16,200,000
21,442,717
United Kingdom Treasury, 1.25%, 10/22/2041 
 
 
843,000
662,858
United Kingdom Treasury, 1.5%, 7/22/2047 
 
 
3,783,000
2,574,802
 
 
 
$204,566,157
Local Authorities – 0.1%
Province of British Columbia, 2.95%, 6/18/2050 
 
CAD
1,117,000
$617,479
Machinery & Tools – 0.2%
Ritchie Bros Holdings, Inc., 7.75%, 3/15/2031 (n)
 
$
2,113,000
$2,197,021
Media – 1.1%
Arqiva Broadcast Finance PLC, 8.625%, 7/01/2030 
 
GBP
1,818,000
$2,039,853
NAVER Corp., 3.75%, 4/21/2033 
 
EUR
670,000
783,343
News Corp., 3.875%, 5/15/2029 (n)
 
$
1,358,000
1,316,729
Nexstar Media, Inc., 7.25%, 4/15/2034 (n)
 
 
2,549,000
2,565,041
Omnicom Finance Holdings PLC, 3.85%, 5/02/2034 
 
EUR
1,200,000
1,382,898
Univision Communications, Inc., 8.5%, 7/31/2031 (n)
 
$
2,208,000
2,222,857
WMG Acquisition Corp., 3.75%, 12/01/2029 (n)
 
 
1,076,000
1,024,424
 
 
 
$11,335,145
Medical & Health Technology & Services – 1.2%
Baxter International, Inc., 4.9%, 12/15/2030 
 
$
401,000
$397,844
Baxter International, Inc., 5.65%, 12/15/2035 
 
 
318,000
315,031
Concentra, Inc., 6.875%, 7/15/2032 (n)
 
 
2,241,000
2,319,514
Encompass Health Corp., 4.75%, 2/01/2030 
 
 
2,746,000
2,701,688
Gruppo San Donato S.p.A., 6.5%, 10/31/2031 
 
EUR
1,933,000
2,171,708
HCA, Inc., 5.45%, 9/15/2034 
 
$
125,000
126,228
HCA, Inc., 5.125%, 6/15/2039 
 
 
430,000
407,980
HCA, Inc., 5.7%, 11/15/2055 
 
 
507,000
476,408
ICON Investments Six DAC, 5.809%, 5/08/2027 
 
 
524,000
528,224
ICON Investments Six DAC, 5.849%, 5/08/2029 
 
 
523,000
532,488
New York Society for Relief of Ruptured & Crippled Maintaining Hospital Special Surgery, 2.667%, 10/01/2050 
 
 
1,118,000
679,505
ProMedica Toledo Hospital, B, AGM, 6.015%, 11/15/2048 
 
 
560,000
553,761
Sartorius Finance B.V., 3.75%, 5/12/2031 
 
EUR
300,000
352,148
Thermo Fisher Scientific, Inc., 4.473%, 10/07/2032 
 
$
1,007,000
991,525
 
 
 
$12,554,052
9

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Medical Equipment – 0.5%
Abbott Laboratories, 4.65%, 3/15/2036 
 
$
1,143,000
$1,110,894
Danaher Corp., 3.25%, 4/29/2030 
 
EUR
1,130,000
1,322,460
Insulet Corp., 6.5%, 4/01/2033 (n)
 
$
2,264,000
2,303,670
 
 
 
$4,737,024
Metals & Mining – 0.8%
BHP Billiton Finance Ltd., 3.643%, 9/04/2035 
 
EUR
1,360,000
$1,570,784
Eldorado Gold Corp., 6.25%, 9/01/2029 (n)
 
$
1,547,000
1,547,537
FMG Resources Ltd., 5.875%, 4/15/2030 (n)
 
 
2,274,000
2,313,144
Glencore Finance (Canada) Ltd., 5.55%, 10/25/2042 (n)
 
 
65,000
63,655
Norsk Hydro ASA, 3.75%, 6/17/2033 
 
EUR
280,000
328,790
Northern Star Resources Ltd. Co., 6.125%, 4/11/2033 (n)
 
$
926,000
962,537
Samarco Mineracao S.A., 4%(4% Cash + 5% PIK) to 12/30/2026, (5.5% Cash + 3.5% PIK) to 12/30/2027, 9.25% Cash to
12/30/2029, 9.5% Cash to 6/30/2031 (p)
 
 
1,711,281
1,712,888
 
 
 
$8,499,335
Midstream – 1.7%
Antero Midstream Corp., 5.75%, 7/01/2034 (n)
 
$
2,794,000
$2,760,446
Cheniere Energy Partners LP, 5.55%, 10/30/2035 
 
 
756,000
771,316
Cheniere Energy Partners LP, 6.05%, 11/30/2056 (n)(w)
 
 
643,000
649,729
Columbia Pipelines Operating Co. LLC, 6.544%, 11/15/2053 (n)
 
 
785,000
835,612
Eastern Energy Gas Holdings LLC, 5.65%, 10/15/2054 
 
 
1,026,000
980,458
Energy Transfer LP, 5.95%, 5/15/2054 
 
 
818,000
789,591
Pembina Pipeline Corp., 4.81%, 3/25/2044 
 
CAD
789,000
548,726
Plains All American Pipeline LP, 5.7%, 9/15/2034 
 
$
734,000
752,904
Plains All American Pipeline LP, 5.6%, 1/15/2036 
 
 
426,000
429,298
Sunoco LP, 7.25%, 5/01/2032 (n)
 
 
2,727,000
2,849,404
Tallgrass Energy Partners LP, 7.375%, 2/15/2029 (n)
 
 
1,807,000
1,865,547
Tallgrass Energy Partners LP, 6.75%, 3/15/2034 (n)
 
 
1,193,000
1,218,978
Targa Resources Corp., 4.2%, 2/01/2033 
 
 
241,000
229,286
Targa Resources Corp., 4.95%, 4/15/2052 
 
 
695,000
598,385
Venture Global LNG, Inc., 8.125%, 6/01/2028 (n)
 
 
1,475,000
1,507,788
Venture Global LNG, Inc., 8.375%, 6/01/2031 (n)
 
 
1,134,000
1,180,028
 
 
 
$17,967,496
Mortgage-Backed – 7.3%
Fannie Mae, 5%, 8/01/2040 
 
$
219,756
$220,465
Fannie Mae, 4%, 9/01/2040 - 11/01/2044 
 
 
136,645
132,211
Fannie Mae, 4.5%, 2/01/2041 - 4/01/2044 
 
 
957,650
947,705
Fannie Mae, 3.5%, 9/01/2045 - 12/01/2047 
 
 
493,345
459,485
Fannie Mae, 2%, 9/25/2050 (i)
 
 
1,006,819
132,167
Fannie Mae, 4%, 9/25/2050 (i)
 
 
1,321,246
252,993
Fannie Mae, 2.5%, 2/25/2051 (i)
 
 
614,375
84,957
Fannie Mae, 4.512%, 12/25/2053 
 
 
1,133,876
1,140,744
Fannie Mae, 5.012%, 12/25/2054 
 
 
974,456
985,296
Fannie Mae, 5.112%, 12/25/2054 
 
 
1,443,399
1,460,753
Fannie Mae, 5.062%, 1/25/2055 
 
 
1,531,236
1,549,830
Fannie Mae, 4.812%, 10/25/2055 
 
 
2,851,530
2,870,254
Fannie Mae, UMBS, 5.5%, 4/01/2031 - 2/01/2054 
 
 
2,494,929
2,515,068
Fannie Mae, UMBS, 3.5%, 5/01/2049 - 5/01/2052 
 
 
145,737
134,927
Fannie Mae, UMBS, 2.5%, 1/01/2050 - 6/01/2052 
 
 
4,293,094
3,617,448
Fannie Mae, UMBS, 2%, 5/01/2051 - 2/01/2052 
 
 
2,231,000
1,795,092
Fannie Mae, UMBS, 3%, 10/01/2051 - 5/01/2052 
 
 
2,015,414
1,768,657
Fannie Mae, UMBS, 4%, 6/01/2052 - 4/01/2053 
 
 
3,634,113
3,414,331
10

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Mortgage-Backed – continued
Fannie Mae, UMBS, 6%, 8/01/2053 
 
$
264,121
$270,735
Fannie Mae, UMBS, 4.5%, 2/01/2055 
 
 
753,874
724,081
Freddie Mac, 0.187%, 9/25/2026 (i)
 
 
62,189,000
46,045
Freddie Mac, 1.373%, 3/25/2027 (i)
 
 
1,517,000
13,559
Freddie Mac, 0.293%, 2/25/2028 (i)
 
 
46,151,000
231,073
Freddie Mac, 0.101%, 4/25/2028 (i)
 
 
46,683,000
124,508
Freddie Mac, 0.11%, 5/25/2028 (i)
 
 
47,225,000
143,786
Freddie Mac, 0.57%, 1/25/2030 (i)
 
 
4,833,177
92,128
Freddie Mac, 1.797%, 4/25/2030 (i)
 
 
2,395,024
150,769
Freddie Mac, 1.839%, 4/25/2030 (i)
 
 
2,589,254
165,617
Freddie Mac, 1.666%, 5/25/2030 (i)
 
 
3,408,930
208,191
Freddie Mac, 1.798%, 5/25/2030 (i)
 
 
7,523,890
484,314
Freddie Mac, 1.34%, 6/25/2030 (i)
 
 
3,170,959
153,747
Freddie Mac, 1.597%, 8/25/2030 (i)
 
 
2,931,170
174,148
Freddie Mac, 1.168%, 9/25/2030 (i)
 
 
1,901,519
85,464
Freddie Mac, 1.079%, 11/25/2030 (i)
 
 
3,948,102
170,822
Freddie Mac, 0.316%, 1/25/2031 (i)
 
 
15,502,725
174,655
Freddie Mac, 0.507%, 3/25/2031 (i)
 
 
20,194,314
400,607
Freddie Mac, 0.937%, 7/25/2031 (i)
 
 
5,068,698
221,436
Freddie Mac, 0.536%, 9/25/2031 (i)
 
 
21,590,988
544,546
Freddie Mac, 0.567%, 12/25/2031 (i)
 
 
5,486,706
143,877
Freddie Mac, 0.154%, 11/25/2032 (i)
 
 
33,028,344
385,186
Freddie Mac, 0.905%, 9/25/2034 (i)
 
 
5,029,953
329,337
Freddie Mac, 4.5%, 12/01/2039 - 5/01/2042 
 
 
427,259
423,862
Freddie Mac, 5%, 7/01/2041 
 
 
189,442
192,074
Freddie Mac, 4%, 4/01/2044 
 
 
21,148
20,282
Freddie Mac, 2.5%, 11/25/2050 (i)
 
 
1,818,721
298,663
Freddie Mac, 3%, 10/25/2052 (i)
 
 
620,333
99,423
Freddie Mac, 4.912%, 8/25/2054 
 
 
1,746,251
1,761,142
Freddie Mac, 5.112%, 12/25/2054 
 
 
1,627,735
1,647,892
Freddie Mac, 7.562%, 9/25/2055 
 
 
844,877
878,143
Freddie Mac, 2.343%, 8/15/2057 (i)
 
 
728,951
88,943
Freddie Mac, UMBS, 6.5%, 11/01/2028 - 11/01/2054 
 
 
977,088
1,021,356
Freddie Mac, UMBS, 4.5%, 7/01/2038 - 11/01/2054 
 
 
893,347
872,661
Freddie Mac, UMBS, 3%, 6/01/2050 - 2/01/2053 
 
 
4,743,602
4,149,394
Freddie Mac, UMBS, 2%, 9/01/2051 - 3/01/2052 
 
 
275,152
221,093
Freddie Mac, UMBS, 2.5%, 10/01/2051 - 7/01/2053 
 
 
2,955,751
2,488,599
Freddie Mac, UMBS, 5%, 8/01/2052 - 10/01/2054 
 
 
2,629,655
2,599,544
Freddie Mac, UMBS, 4%, 10/01/2052 - 3/01/2053 
 
 
525,269
492,311
Freddie Mac, UMBS, 5.5%, 12/01/2052 - 8/01/2053 
 
 
1,219,811
1,231,431
Freddie Mac, UMBS, 6%, 12/01/2052 - 10/01/2053 
 
 
776,221
797,038
Ginnie Mae, 2.5%, 8/20/2051 - 8/20/2052 
 
 
1,714,899
1,469,459
Ginnie Mae, 2%, 1/20/2052 - 2/20/2052 
 
 
1,917,969
1,573,926
Ginnie Mae, 3%, 2/20/2052 - 10/20/2052 
 
 
2,165,978
1,927,945
Ginnie Mae, 4%, 7/20/2052 - 11/20/2052 
 
 
831,640
781,946
Ginnie Mae, 5%, 1/20/2053 - 5/20/2053 
 
 
1,369,730
1,359,341
Ginnie Mae, 5.5%, 2/20/2053 - 12/20/2054 
 
 
1,044,467
1,057,944
Ginnie Mae, 4.875%, 8/20/2053 - 4/20/2055 
 
 
3,904,947
3,936,072
Ginnie Mae, 5.025%, 9/20/2053 
 
 
1,351,865
1,373,373
Ginnie Mae, 4.925%, 10/20/2053 
 
 
883,356
895,297
Ginnie Mae, 4.975%, 10/20/2053 
 
 
888,416
901,531
Ginnie Mae, 4.825%, 12/20/2053 - 3/20/2064 
 
 
2,064,635
2,084,757
Ginnie Mae, 4.675%, 10/20/2054 
 
 
840,475
843,051
Ginnie Mae, 7.575%, 5/20/2055 
 
 
699,223
716,033
11

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Mortgage-Backed – continued
Ginnie Mae, 6.137%, 6/20/2055 
 
$
1,109,476
$1,114,739
Ginnie Mae, 6.212%, 6/20/2055 
 
 
657,752
631,785
Ginnie Mae, 1.725%, 7/20/2055 (i)
 
 
1,749,803
83,735
Ginnie Mae, 3.5%, 4/20/2056 
 
 
1,999,999
1,802,609
Ginnie Mae, 4.425%, 8/20/2065 - 2/20/2066 
 
 
2,538,015
2,531,669
Ginnie Mae, 4.125%, 8/20/2067 
 
 
811,030
811,235
UMBS, TBA, 6%, 6/11/2056 
 
 
50,000
51,054
UMBS, TBA, 2.5%, 6/25/2056 
 
 
525,000
439,216
 
 
 
$74,591,582
Municipals – 0.7%
Iowa Student Loan Liquidity Corp. Rev., Taxable, A, 5.08%, 12/01/2039 
 
$
380,000
$367,069
Massachusetts Educational Financing Authority, Education Loan Rev., Taxable, A, 2.641%, 7/01/2037 
 
 
825,000
727,366
Massachusetts Educational Financing Authority, Education Loan Rev., Taxable, A, 4.949%, 7/01/2038 
 
 
2,075,000
1,998,510
Massachusetts Housing Finance Agency, Single Family Housing Rev., Taxable, 226, 5.562%, 12/01/2052 
 
 
1,305,000
1,327,264
Michigan Finance Authority, Hospital Rev., Taxable (Trinity Health Credit Group), 3.384%, 12/01/2040 
 
 
1,040,000
861,080
New Hampshire National Finance Authority, Utility Refunding Rev., Taxable (Wheeling Power Co. Project), A,
6.89%, 4/01/2034 
 
 
780,000
825,069
Oklahoma Development Finance Authority, Health System Rev., Taxable (OU Medicine Project), C, 5.45%, 8/15/2028 
 
 
742,000
735,524
 
 
 
$6,841,882
Natural Gas - Distribution – 0.5%
Boston Gas Co., 5.843%, 1/10/2035 (n)
 
$
1,062,000
$1,110,052
ENGIE S.A., 3.25%, 1/11/2032 
 
EUR
900,000
1,040,457
Vier Gas Transport GmbH, 3.375%, 11/11/2031 
 
 
1,300,000
1,505,994
Vier Gas Transport GmbH, 3.625%, 9/08/2033 
 
 
900,000
1,039,945
 
 
 
$4,696,448
Network & Telecom – 0.2%
Iliad Holding S.A.S., 6.875%, 4/15/2031 (n)
 
EUR
680,000
$836,699
Iliad Holding S.A.S., 6.875%, 4/15/2031 
 
 
342,000
420,811
Koninklijke KPN N.V., 0.875%, 12/14/2032 
 
 
1,000,000
989,775
 
 
 
$2,247,285
Non-Global Systemically Important Banks – 2.7%
ABANCA Corp. Bancaria S.A., 3.75% to 6/09/2033, FLR (EUR ICE Swap Rate - 1yr. + 0.97%) to 6/09/2034 (w)
 
EUR
900,000
$1,046,031
AIB Group PLC, 6.608% to 9/13/2028, FLR (SOFR - 1 day + 2.33%) to 9/13/2029 (n)
 
$
1,891,000
1,971,150
AIB Group PLC, 5.871% to 3/28/2034, FLR (SOFR - 1 day + 1.91%) to 3/28/2035 (n)
 
 
700,000
726,018
Bank of Cyprus PCL, 3.875% to 5/20/2030, FLR (EURIBOR - 3mo. + 1%) to 5/20/2031 
 
EUR
630,000
737,039
BBVA Bancomer S.A. (Texas), 8.125%, 1/08/2039 (n)
 
$
597,000
640,868
BPCE S.A., 2.277% to 1/20/2031, FLR (SOFR - 1 day + 1.312%) to 1/20/2032 (n)
 
 
1,037,000
917,301
CaixaBank S.A., 3.375%, 6/26/2035 
 
EUR
500,000
571,984
CaixaBank S.A., 3.75%, 1/27/2036 
 
 
600,000
695,427
Ceska Sporitelna A.S., 3.657% to 2/11/2032, FLR (EURIBOR - 3mo. + 1.05%) to 2/11/2033 
 
 
600,000
690,839
Commonwealth Bank of Australia, 2.688%, 3/11/2031 (n)
 
$
1,696,000
1,534,846
Crédit Agricole S.A., 3.875%, 2/16/2038 
 
EUR
800,000
917,072
Deutsche Bank AG, 5.373% to 1/10/2028, FLR (SOFR - 1 day + 1.21%) to 1/10/2029 
 
$
926,000
936,362
Deutsche Bank AG, 4.95% to 8/04/2030, FLR (SOFR - 1 day + 1.3%) to 8/04/2031 
 
 
545,000
543,601
Erste & Steiermarkische Banka d.d., 4.125% to 5/27/2031, FLR (EURIBOR - 3mo. + 1.15%) to 5/27/2032 
 
EUR
1,000,000
1,179,522
Lloyds Banking Group PLC, 5.625%, 9/16/2036 
 
GBP
723,000
970,428
M&T Bank Corp., 4.553% to 8/16/2027, FLR (SOFR - 1 day + 1.78%) to 8/16/2028 
 
$
369,000
369,119
M&T Bank Corp., 6.082% to 3/13/2031, FLR (SOFR - 1 day + 2.26%) to 3/13/2032 
 
 
1,189,000
1,242,291
mBank S.A., 4.034%, 9/27/2030 
 
EUR
700,000
829,804
12

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Non-Global Systemically Important Banks – continued
mBank S.A., 3.771%, 3/03/2032 
 
EUR
100,000
$115,928
mBank S.A., 4.335% to 5/26/2032, FLR (EURIBOR - 3mo. + 1.27%) to 5/26/2033 
 
 
500,000
590,321
NatWest Group PLC, 3.632% to 9/03/2033, FLR (EURIBOR - 3mo. + 1.161%) to 9/03/2034 
 
 
1,680,000
1,949,003
NatWest Markets PLC, 3.125%, 1/13/2031 
 
 
460,000
532,241
Pinnacle Financial Partners, Inc., 5.596% to 5/19/2031, FLR (SOFR - 1 day + 1.7%) to 5/19/2032 
 
$
1,558,000
1,565,851
PNC Financial Services Group, Inc., 5.676% to 1/22/2034, FLR (SOFR - 1 day + 1.902%) to 1/22/2035 
 
 
774,000
799,265
PNC Financial Services Group, Inc., 5.575% to 1/29/2035, FLR (SOFR - 1 day + 1.394%) to 1/29/2036 
 
 
791,000
810,981
Powszechna Kasa Oszczednosci Bank Polski S.A., 3.875%, 9/12/2027 
 
EUR
750,000
877,064
Svenska Handelsbanken AB, 3.5%, 4/29/2033 
 
 
1,090,000
1,267,510
Tatra Banka A.S., 4.269%, 5/26/2032 
 
 
500,000
588,216
UniCredit S.p.A., 2.875%, 7/15/2030 
 
 
1,430,000
1,651,035
 
 
 
$27,267,117
Pharmaceuticals & Biotechnology – 0.5%
AbbVie, Inc., 4.4%, 3/15/2033 
 
$
1,035,000
$1,015,707
AbbVie, Inc., 5.35%, 3/15/2044 
 
 
488,000
477,745
AbbVie, Inc., 5.4%, 3/15/2054 
 
 
611,000
588,717
Eli Lilly & Co., 5.5%, 2/12/2055 
 
 
507,000
503,068
Merck & Co., Inc., 4.75%, 12/04/2035 
 
 
1,011,000
992,417
Roche Holdings, Inc., 5.489%, 11/13/2030 (n)
 
 
493,000
513,048
Roche Holdings, Inc., 5.593%, 11/13/2033 (n)
 
 
733,000
771,460
 
 
 
$4,862,162
Pollution Control – 0.3%
Clean Harbors, Inc., 6.375%, 2/01/2031 (n)
 
$
3,001,000
$3,050,613
Railroads – 0.2%
Burlington Northern Santa Fe LLC, 5.5%, 3/15/2055 
 
$
1,252,000
$1,217,405
Union Pacific Corp., 3.25%, 2/05/2050 
 
 
1,542,000
1,061,767
 
 
 
$2,279,172
Real Estate - Other – 0.3%
Goodman Australia Finance Pty Ltd., 3.875%, 4/29/2033 
 
EUR
1,018,000
$1,183,528
RHP Hotel Properties LP/RHP Finance Corp., 7.25%, 7/15/2028 (n)
 
$
2,313,000
2,363,703
 
 
 
$3,547,231
Real Estate - Retail – 0.6%
Choice Properties, REIT, 4.628%, 8/08/2035 
 
CAD
1,822,000
$1,329,922
Hammerson PLC, 3.5%, 4/15/2032 
 
EUR
1,462,000
1,662,620
STORE Capital Corp., REIT, 2.75%, 11/18/2030 
 
$
1,590,000
1,434,447
STORE Capital Corp., REIT, 2.7%, 12/01/2031 
 
 
62,000
54,543
Unibail-Rodamco-Westfield SE, 3.875%, 4/21/2033 
 
EUR
600,000
699,779
WEA Finance LLC, REIT, 2.875%, 1/15/2027 (n)
 
$
1,043,000
1,032,592
 
 
 
$6,213,903
Real Estate - Storage & Office – 0.3%
Boston Properties LP, REIT, 2.75%, 10/01/2026 
 
$
380,000
$378,340
Colonial SFL Socimi S.A., 3.875%, 4/08/2031 
 
EUR
800,000
940,687
COPT Defense Properties, REIT, 4.5%, 10/15/2030 
 
$
266,000
261,318
COPT Defense Properties, REIT, 2.75%, 4/15/2031 
 
 
235,000
213,222
Cousins Properties, Inc., REIT, 5.875%, 10/01/2034 
 
 
457,000
467,896
Highwoods Realty LP, 5.35%, 1/15/2033 
 
 
851,000
846,926
 
 
 
$3,108,389
13

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Retail & E-commerce – 1.1%
Alimentation Couche-Tard, Inc., 3.901%, 4/21/2033 
 
EUR
898,000
$1,054,583
Amazon.com, Inc., 3.7%, 3/16/2035 
 
 
650,000
762,252
Amazon.com, Inc., 4.05%, 3/16/2039 
 
 
1,150,000
1,346,819
Amazon.com, Inc., 5.8%, 3/13/2056 
 
$
1,233,000
1,234,177
Beach Acquisition Bidco LLC, 10% (10% Cash or 10.75% PIK), 7/15/2033 (n)(p)
 
 
2,029,447
2,161,180
Carvana Co., 9%, 6/01/2031 (n)(p)
 
 
1,994,049
2,203,901
DICK'S Sporting Goods, 4.1%, 1/15/2052 
 
 
1,186,000
857,041
El Corte Inglés S.A., 3.5%, 7/24/2033 
 
EUR
900,000
1,023,226
Home Depot, Inc., 3.625%, 4/15/2052 
 
$
903,000
650,095
 
 
 
$11,293,274
Semiconductor & Electronic Components – 0.2%
Broadcom, Inc., 4.55%, 2/15/2032 
 
$
265,000
$262,421
Broadcom, Inc., 5.2%, 7/15/2035 
 
 
518,000
521,101
Broadcom, Inc., 5.7%, 1/15/2056 
 
 
496,000
494,916
Intel Corp., 5.7%, 2/10/2053 
 
 
560,000
532,165
 
 
 
$1,810,603
Software – 0.7%
Fair Isaac Corp., 6%, 5/15/2033 (n)
 
$
2,879,000
$2,851,076
Microsoft Corp., 2.525%, 6/01/2050 
 
 
218,000
131,333
Microsoft Corp., 2.675%, 6/01/2060 
 
 
607,000
340,530
Oracle Corp., 4.95%, 2/04/2031 
 
 
508,000
499,540
Oracle Corp., 5.35%, 5/04/2033 
 
 
558,000
549,230
Oracle Corp., 5.7%, 2/04/2036 
 
 
484,000
475,518
Oracle Corp., 4%, 7/15/2046 
 
 
443,000
308,142
Sage Group PLC, 3.821%, 2/25/2033 
 
EUR
240,000
276,664
Sage Group PLC, 2.875%, 2/08/2034 
 
GBP
614,000
683,214
Salesforce, Inc., 4.9%, 9/15/2031 
 
$
864,000
864,474
 
 
 
$6,979,721
Supermarkets – 0.5%
FR Bondco S.A.S., 6.875%, 10/31/2032 
 
EUR
1,508,000
$1,747,661
KeHE Distributors LLC/KeHE Finance Corp., 9%, 2/15/2029 (n)
 
$
2,433,000
2,541,018
Kroger Co., 5.5%, 9/15/2054 
 
 
698,000
655,923
 
 
 
$4,944,602
Telecommunications - Wireless – 0.4%
American Tower Corp., 4%, 9/01/2033 
 
EUR
400,000
$474,199
SoftBank Group Corp., 3.936%, 6/30/2032 
 
 
410,000
482,338
T-Mobile USA, Inc., 3.875%, 4/15/2030 
 
$
266,000
258,843
T-Mobile USA, Inc., 5.05%, 7/15/2033 
 
 
262,000
263,713
T-Mobile USA, Inc., 5.75%, 1/15/2034 
 
 
247,000
257,757
T-Mobile USA, Inc., 5.85%, 2/15/2056 
 
 
271,000
265,661
WP/AP Telecom Holdings III B.V., 5.5%, 1/15/2030 
 
EUR
1,950,000
2,275,037
 
 
 
$4,277,548
Telephone Services – 0.1%
TELUS Corp., 5.25%, 11/15/2032 
 
CAD
1,355,000
$1,042,897
14

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Tobacco – 0.4%
B.A.T. International Finance PLC, 3.375%, 5/11/2029 
 
EUR
900,000
$1,051,522
B.A.T. International Finance PLC, 4.125%, 4/12/2032 
 
 
1,110,000
1,322,688
Imperial Brands Finance PLC, 3.875%, 8/02/2033 
 
 
680,000
782,636
Japan Tobacco, Inc., 5.25%, 6/15/2030 (n)
 
$
859,000
878,674
 
 
 
$4,035,520
Transportation & Logistics – 1.1%
Autoroutes du Sud de la France S.A., 3.375%, 1/19/2034 
 
EUR
600,000
$690,623
Edge Finco PLC, 8.125%, 8/15/2031 
 
GBP
1,714,000
2,380,524
Element Fleet Management Corp., 6.319%, 12/04/2028 (n)
 
$
473,000
491,157
ERAC USA Finance LLC, 5.25%, 4/30/2036 (n)
 
 
1,099,000
1,098,463
Ferrovial N.V., 3.625%, 9/18/2032 
 
EUR
690,000
802,516
Heathrow Funding Ltd., 5.625%, 2/05/2034 
 
GBP
560,000
729,988
Heathrow Funding Ltd., 3.875%, 1/16/2038 
 
EUR
860,000
987,212
Heathrow Funding Ltd., 5.875%, 5/13/2043 
 
GBP
430,000
549,601
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2027 (n)
 
$
1,754,000
1,664,751
Transurban Finance Co. Pty Ltd., 4.225%, 4/26/2033 
 
EUR
1,150,000
1,383,357
Transurban Finance Co. Pty Ltd., 4.033%, 11/26/2037 
 
 
280,000
324,550
 
 
 
$11,102,742
Travel, Gaming, & Lodging – 0.8%
888 Acquisitions Ltd., 10.75%, 5/15/2030 
 
GBP
1,850,000
$2,411,511
Flutter Treasury DAC, 5.875%, 6/04/2031 (n)
 
$
1,439,000
1,422,272
Flutter Treasury DAC, 6.125%, 6/04/2031 
 
GBP
490,000
647,641
Hilton Domestic Operating Co., Inc., 5.5%, 9/15/2031 (n)
 
$
2,642,000
2,657,306
Las Vegas Sands Corp., 3.9%, 8/08/2029 
 
 
1,225,000
1,184,896
Las Vegas Sands Corp., 5.3%, 5/15/2031 
 
 
333,000
333,230
 
 
 
$8,656,856
U.S. Treasury Obligations – 2.6%
U.S. Treasury Bonds, 3.875%, 5/15/2043 (f)
 
$
19,376,000
$17,049,366
U.S. Treasury Bonds, 4.75%, 11/15/2053 (f)
 
 
2,711,000
2,604,996
U.S. Treasury Notes, 4.25%, 5/15/2035 
 
 
6,888,000
6,811,048
 
 
 
$26,465,410
Utilities – 3.4%
Adani Transmission Step-One Ltd., 4.25%, 5/21/2036 
 
$
825,500
$751,623
AEP Texas, Inc., 5.2%, 4/15/2036 
 
 
439,000
432,001
AEP Transmission Co. LLC, 5.375%, 6/15/2035 
 
 
709,000
722,113
Algonquin Power & Utilities Corp., 5.365%, 6/15/2026 
 
 
341,000
341,015
American Transmission Systems, Inc., 2.65%, 1/15/2032 (n)
 
 
864,000
772,258
Berkshire Hathaway Energy Co., 5.15%, 11/15/2043 
 
 
222,000
210,894
Berkshire Hathaway Energy Co., 4.6%, 5/01/2053 
 
 
185,000
154,511
Bruce Power LP, 2.68%, 12/21/2028 
 
CAD
208,000
148,283
Bruce Power LP, 4.7%, 6/21/2031 
 
 
510,000
384,136
Bruce Power LP, 4.27%, 12/21/2034 
 
 
1,252,000
903,122
Clearway Energy Operating LLC, 3.75%, 2/15/2031 (n)
 
$
2,725,000
2,539,436
Duke Energy Florida LLC, 6.2%, 11/15/2053 
 
 
869,000
919,284
E.ON International Finance B.V., 3.5%, 9/03/2035 
 
EUR
670,000
767,648
E.ON International Finance B.V., 5.875%, 10/30/2037 
 
GBP
1,000,000
1,337,389
Enel Finance International N.V., 2.5%, 7/12/2031 (n)
 
$
889,000
791,759
Enel Finance International N.V., 5.75%, 9/14/2040 
 
GBP
930,000
1,202,168
Enel Finance International N.V., 5.5%, 6/15/2052 (n)
 
$
299,000
275,005
15

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Issuer
 
 
Shares/Par
Value ($)
Bonds – continued
Utilities – continued
Energuate Trust, 6.35%, 9/15/2035 (n)
 
$
1,020,000
$1,016,897
ENGIE Energía Chile S.A., 6.375%, 4/17/2034 (n)
 
 
239,000
249,921
Eversource Energy, 5.5%, 1/01/2034 
 
 
544,000
553,715
Florida Power & Light Co., 2.875%, 12/04/2051 
 
 
710,000
444,995
Georgia Power Co., 4.95%, 5/17/2033 
 
 
507,000
511,061
Hawaiian Electric Co., Inc., 6%, 10/01/2033 (n)
 
 
2,388,000
2,370,136
Jersey Central Power & Light Co., 2.75%, 3/01/2032 (n)
 
 
294,000
263,721
National Grid North America, Inc., 3.917%, 6/03/2035 
 
EUR
840,000
982,753
Northern States Power Co. of Minnesota, 5.05%, 5/15/2035 
 
$
721,000
724,568
Oncor Electric Delivery Co. LLC, 5.35%, 4/01/2035 
 
 
657,000
672,035
Oncor Electric Delivery Co. LLC, 4.55% to 11/26/2031, FLR (EUR ICE Swap Rate - 5yr. + 1.534%) to11/26/2036, FLR (EUR
ICE Swap Rate - 5yr. + 1.784%) to 11/26/2051, FLR (EUR ICE Swap Rate - 5yr. + 2.534%) to 11/26/2056 
 
EUR
473,000
554,595
Pacific Gas & Electric Co., 6.1%, 1/15/2029 
 
$
245,000
252,808
Pacific Gas & Electric Co., 6.4%, 6/15/2033 
 
 
220,000
234,124
PG&E Corp., 5.25%, 7/01/2030 
 
 
2,898,000
2,867,230
PPL Electric Utilities Corp. 1st Mortgage, 5.25%, 5/15/2053 
 
 
917,000
858,355
PSEG Power LLC, 5.2%, 5/15/2030 (n)
 
 
1,026,000
1,040,973
Scottish Hydro Electric Transmission PLC, 3.375%, 11/02/2033 
 
EUR
930,000
1,062,818
Star Energy Geothermal (Wayang Windu) Ltd., 6.75%, 4/24/2033 
 
$
482,000
492,704
Terna Rete Elettrica Nazionale S.p.A., 3%, 7/22/2031 
 
EUR
2,180,000
2,506,947
Vistra Operations Co. LLC, 4.7%, 1/31/2031 (n)
 
$
834,000
819,461
Vistra Operations Co. LLC, 5.35%, 1/31/2036 (n)
 
 
734,000
717,727
Xcel Energy, Inc., 4.6%, 6/01/2032 
 
 
515,000
506,559
XPLR Infrastructure Operating Partners LP, 8.375%, 1/15/2031 (n)
 
 
2,031,000
2,177,315
 
 
 
$34,534,063
Utilities - Gas – 0.8%
APA Infrastructure Ltd., 5.125%, 9/16/2034 (n)
 
$
768,000
$760,012
APA Infrastructure Ltd., 2.5%, 3/15/2036 
 
GBP
1,050,000
1,068,366
APA Infrastructure Ltd., 5.75%, 9/16/2044 (n)
 
$
290,000
286,149
EP Infrastructure A.S., 2.045%, 10/09/2028 
 
EUR
1,413,000
1,598,594
EP Infrastructure A.S., 4.125%, 2/27/2033 
 
 
1,361,000
1,558,439
EP Infrastructure A.S., 4.375%, 1/29/2034 
 
 
485,000
559,034
Spire, Inc., 4.6%, 9/01/2031 
 
$
1,309,000
1,293,611
Spire, Inc., 6.25%, 6/01/2056 
 
 
1,016,000
1,015,228
 
 
 
$8,139,433
Utilities - Other – 0.1%
Severn Trent Utilities Finance PLC, 3.875%, 8/04/2035 
 
EUR
710,000
$822,624
Total Bonds (Identified Cost, $991,038,286)
$994,091,617
Mutual Funds (h) – 2.3%
Money Market Funds – 2.3%
MFS Institutional Money Market Portfolio, 3.69% (v) (Identified Cost, $23,522,833)
 
 
23,521,649
$23,524,001
Other Assets, Less Liabilities – 0.8%
7,809,473
Net Assets – 100.0%
$1,025,425,091
16

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
 
(f)
All or a portion of the security has been segregated as collateral for open futures contracts and cleared swap agreements.
(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 $23,524,001 and
$994,091,617, respectively.
(i)
Interest only security for which the fund receives interest on notional principal (Par amount). Par amount shown is the notional principal and does not
reflect the cost of the security.
(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
$296,644,011, representing 28.9% of net assets.
(p)
Payment-in-kind (PIK) security for which interest income may be received in additional securities and/or cash.
(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.
(w)
When-issued security.
 
The following abbreviations are used in this report and are defined:
AGM
Assured Guaranty Municipal
CFRR
China Fixing Repo Rate
CLO
Collateralized Loan Obligation
CMT
Constant Maturity Treasury
EURIBOR
Euro Interbank Offered Rate
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.
ICE
Intercontinental Exchange
NPFG
National Public Finance Guarantee Corp.
REIT
Real Estate Investment Trust
SOFR
Secured Overnight Financing Rate
TBA
To Be Announced
UMBS
Uniform Mortgage-Backed Security
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
CLP
Chilean Peso
CNH
Chinese Yuan Renminbi (Offshore)
CNY
China Yuan Renminbi
CZK
Czech Koruna
EUR
Euro
GBP
British Pound
IDR
Indonesian Rupiah
JPY
Japanese Yen
KRW
South Korean Won
MXN
Mexican Peso
NOK
Norwegian Krone
NZD
New Zealand Dollar
PEN
Peruvian Nuevo Sol
SGD
Singapore Dollar
THB
Thai Baht
UYU
Uruguayan Peso
ZAR
South African Rand
 
Derivative Contracts at 5/31/26
Forward Foreign Currency Exchange Contracts
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized
Appreciation
(Depreciation)
Asset Derivatives
AUD
8,240,038
USD
5,852,142
HSBC Bank
7/17/2026
$64,930
17

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Forward Foreign Currency Exchange Contracts - continued
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized
Appreciation
(Depreciation)
Asset Derivatives - continued
AUD
3,792,652
USD
2,667,472
State Street Corp.
7/17/2026
$55,986
BRL
5,152,401
USD
1,003,464
Citibank N.A.
8/04/2026
2,262
CLP
5,880,185,343
USD
6,532,474
Citibank N.A.
8/14/2026
76,596
CZK
10,679,603
USD
512,799
Deutsche Bank AG
7/17/2026
395
CZK
10,610,905
USD
507,395
State Street Corp.
7/17/2026
2,497
EUR
4,494,687
USD
5,236,502
HSBC Bank
7/17/2026
16,405
EUR
1,044,850
USD
1,220,214
JPMorgan Chase Bank N.A.
7/17/2026
894
EUR
2,339,348
USD
2,731,170
Merrill Lynch International
7/17/2026
2,808
GBP
379,866
USD
508,450
BNP Paribas
7/17/2026
3,072
GBP
1,520,882
USD
2,038,968
State Street Corp.
7/17/2026
9,027
JPY
150,360,636
USD
947,538
HSBC Bank
7/17/2026
109
KRW
7,560,000,000
USD
5,012,267
Citibank N.A.
7/15/2026
9,697
MXN
93,128,786
USD
5,300,303
JPMorgan Chase Bank N.A.
7/17/2026
50,567
NOK
100,469,201
USD
10,665,182
HSBC Bank
7/17/2026
192,270
NZD
40,239,554
USD
24,000,215
State Street Corp.
7/17/2026
132,431
ZAR
39,105,303
USD
2,374,402
Merrill Lynch International
7/17/2026
28,193
USD
13,378,511
BRL
68,435,635
Barclays Bank PLC
8/06/2026
26,912
USD
593,482
BRL
3,034,000
Citibank N.A.
8/31/2026
5,287
USD
6,397,788
CAD
8,730,078
JPMorgan Chase Bank N.A.
7/17/2026
52,713
USD
39,129,882
CAD
53,671,916
Merrill Lynch International
7/17/2026
120,808
USD
1,688,348
CAD
2,310,945
State Street Corp.
7/17/2026
8,740
USD
613,394
CZK
12,764,597
Deutsche Bank AG
7/17/2026
9
USD
7,876,061
CZK
162,097,206
Merrill Lynch International
7/17/2026
86,708
USD
420,592
CZK
8,682,540
State Street Corp.
7/17/2026
3,365
USD
14,267,124
EUR
12,078,708
HSBC Bank
7/17/2026
150,827
USD
8,678,443
EUR
7,361,565
JPMorgan Chase Bank N.A.
7/17/2026
75,038
USD
1,952,525
EUR
1,662,189
Merrill Lynch International
7/17/2026
9,937
USD
228,538,707
EUR
193,015,863
State Street Corp.
7/17/2026
2,962,515
USD
3,066,973
GBP
2,270,208
JPMorgan Chase Bank N.A.
7/17/2026
9,950
USD
93,589,892
GBP
69,037,870
State Street Corp.
7/17/2026
624,637
USD
2,395,723
GBP
1,767,294
UBS AG
7/17/2026
15,914
USD
10,603,941
IDR
183,628,447,339
Citibank N.A.
7/28/2026
374,367
USD
22,391,521
JPY
3,526,552,594
HSBC Bank
7/17/2026
165,466
USD
5,750,748
JPY
910,513,991
JPMorgan Chase Bank N.A.
7/17/2026
12,244
USD
87,304
JPY
13,836,538
State Street Corp.
7/17/2026
99
USD
26,534,065
KRW
39,026,302,355
Barclays Bank PLC
7/15/2026
609,634
USD
26,441,472
KRW
38,934,169,528
Citibank N.A.
7/15/2026
578,242
USD
2,579,487
KRW
3,759,687,118
Goldman Sachs International
7/15/2026
81,998
USD
12,559,057
THB
402,454,353
Barclays Bank PLC
7/17/2026
159,531
USD
3,132,143
THB
100,025,000
Chase Manhattan Bank
7/17/2026
50,396
 
 
 
 
 
$6,833,476
Liability Derivatives
AUD
3,539,651
USD
2,564,685
State Street Corp.
7/17/2026
$(22,904
)
CAD
9,932,582
USD
7,241,498
Citibank N.A.
7/17/2026
(22,437
)
CAD
5,722,372
USD
4,171,743
JPMorgan Chase Bank N.A.
7/17/2026
(12,688
)
CAD
972,953
USD
715,454
State Street Corp.
7/17/2026
(8,306
)
CZK
27,649,683
USD
1,336,638
Citibank N.A.
7/17/2026
(7,972
)
CZK
26,359,153
USD
1,279,789
Merrill Lynch International
7/17/2026
(13,137
)
EUR
6,046,342
USD
7,101,985
Citibank N.A.
7/17/2026
(35,670
)
EUR
17,014,968
USD
20,014,799
HSBC Bank
7/17/2026
(129,533
)
EUR
9,835,140
USD
11,683,462
JPMorgan Chase Bank N.A.
7/17/2026
(189,209
)
EUR
3,127,285
USD
3,683,123
State Street Corp.
7/17/2026
(28,288
)
18

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Forward Foreign Currency Exchange Contracts - continued
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized
Appreciation
(Depreciation)
Liability Derivatives - continued
GBP
3,990,088
USD
5,417,894
JPMorgan Chase Bank N.A.
7/17/2026
$(44,908
)
GBP
1,002,714
USD
1,358,778
State Street Corp.
7/17/2026
(8,540
)
GBP
1,528,651
USD
2,074,446
UBS AG
7/17/2026
(15,989
)
JPY
1,475,611,885
USD
9,362,086
HSBC Bank
7/17/2026
(62,061
)
JPY
97,900,152
USD
622,206
JPMorgan Chase Bank N.A.
7/17/2026
(5,192
)
JPY
786,892,825
USD
4,984,178
State Street Corp.
7/17/2026
(24,795
)
KRW
12,338,574,192
USD
8,377,788
Citibank N.A.
7/15/2026
(181,507
)
SGD
12,691,346
USD
10,025,320
State Street Corp.
7/17/2026
(48,889
)
THB
94,678,893
USD
2,963,197
Barclays Bank PLC
7/17/2026
(46,162
)
USD
2,553,004
AUD
3,576,430
JPMorgan Chase Bank N.A.
7/17/2026
(15,187
)
USD
5,727,108
AUD
8,139,608
State Street Corp.
7/17/2026
(117,847
)
USD
194,990
CAD
268,684
Citibank N.A.
7/17/2026
(291
)
USD
10,588,556
CAD
14,580,022
State Street Corp.
7/17/2026
(8,294
)
USD
615,770
CNH
4,185,096
HSBC Bank
7/17/2026
(4,872
)
USD
4,451,366
CNH
30,137,000
Merrill Lynch International
7/17/2026
(17,896
)
USD
35,710,220
CNH
241,614,456
State Street Corp.
7/17/2026
(120,755
)
USD
698,897
CZK
14,568,830
State Street Corp.
7/17/2026
(1,188
)
USD
6,327,296
EUR
5,429,392
Citibank N.A.
7/17/2026
(17,993
)
USD
2,553,541
EUR
2,191,840
Goldman Sachs International
7/17/2026
(8,046
)
USD
5,129,036
EUR
4,399,176
HSBC Bank
7/17/2026
(12,247
)
USD
817,027
EUR
700,871
JPMorgan Chase Bank N.A.
7/17/2026
(2,075
)
USD
8,161,834
EUR
7,006,601
State Street Corp.
7/17/2026
(26,730
)
USD
2,841,347
GBP
2,124,626
Barclays Bank PLC
7/17/2026
(19,638
)
USD
513,143
GBP
381,101
Deutsche Bank AG
7/17/2026
(42
)
USD
9,016,594
GBP
6,739,573
HSBC Bank
7/17/2026
(58,802
)
USD
966,921
GBP
719,479
JPMorgan Chase Bank N.A.
7/17/2026
(1,918
)
USD
14,524,322
MXN
253,246,597
State Street Corp.
7/17/2026
(26,385
)
USD
3,674,013
NZD
6,198,251
HSBC Bank
7/17/2026
(43,230
)
USD
22,152,179
NZD
37,880,526
JPMorgan Chase Bank N.A.
7/17/2026
(565,700
)
USD
2,050,205
PEN
7,065,825
Citibank N.A.
7/22/2026
(14,801
)
USD
10,321,919
ZAR
171,674,475
Merrill Lynch International
7/17/2026
(225,607
)
 
 
 
 
 
$(2,217,731
)
 
Futures Contracts
Description
Long/
Short
Currency
Contracts
Notional
Amount
Expiration
Date
Value/Unrealized
Appreciation
(Depreciation)
Asset Derivatives
Interest Rate Futures
Australian Bond 10 yr
Long
AUD
49
$3,839,816
June – 2026
$30,684
Canadian Treasury Bond 10 yr
Long
CAD
26
2,267,421
September – 2026
7,090
Canadian Treasury Bond 5 yr
Long
CAD
611
49,969,354
September – 2026
127,460
Euro-Bobl 5 yr
Long
EUR
350
47,400,747
June – 2026
256,063
Euro-Bund 10 yr
Short
EUR
189
27,884,670
June – 2026
301,194
Euro-Bund 10 yr
Long
EUR
5
738,331
September – 2026
1,796
Euro-Buxl 30 yr
Short
EUR
36
4,623,143
June – 2026
66,257
Euro-Schatz 2 yr
Long
EUR
693
85,693,536
June – 2026
24,397
Korean Bond 3 yr
Long
KRW
22
1,508,467
June – 2026
3,371
Long Gilt 10 yr
Long
GBP
34
4,063,209
September – 2026
63,671
U.S. Treasury Bond 30 yr
Long
USD
56
6,284,250
September – 2026
84,380
U.S. Treasury Note 10 yr
Long
USD
369
40,526,578
September – 2026
255,213
19

MFS Global Opportunistic Bond Fund
Portfolio of Investments (unaudited) – continued
Description
Long/
Short
Currency
Contracts
Notional
Amount
Expiration
Date
Value/Unrealized
Appreciation
(Depreciation)
Asset Derivatives - continued
Interest Rate Futures - continued
U.S. Treasury Note 2 yr
Long
USD
142
$29,331,875
September – 2026
$59,404
U.S. Treasury Note 5 yr
Long
USD
95
10,185,039
September – 2026
50,502
 
$1,331,482
Liability Derivatives
Interest Rate Futures
Euro-BTP 10 yr
Long
EUR
25
$3,470,332
June – 2026
$(12,133
)
Korean Bond 10 yr
Short
KRW
127
9,059,390
June – 2026
(148,113
)
U.S. Treasury Ultra Note 10 yr
Short
USD
232
26,002,125
September – 2026
(245,546
)
 
$(405,792
)
 
Cleared Swap Agreements
Maturity
Date
Notional
Amount
Counterparty
Cash Flows
to Receive/
Frequency
Cash Flows
to Pay/
Frequency
Unrealized
Appreciation
(Depreciation)
Net
Unamortized
Upfront
Payments
(Receipts)
Value
Asset Derivatives
Interest Rate Swaps
11/18/29
CNY
206,200,000
centrally cleared
1.6445% / Quarterly
CFRR / Quarterly
$203,777
$
$203,777
12/13/29
CNY
79,700,000
centrally cleared
1.49% / Quarterly
CFRR / Quarterly
15,583
148
15,731
11/26/30
CNY
77,500,000
centrally cleared
1.5772% / Quarterly
CFRR / Quarterly
47,254
47,254
 
 
 
 
 
$266,614
$148
$266,762
At May 31, 2026, the fund had cash collateral of $347,000 and other liquid securities collateral with an aggregate value of $4,137,808 to cover any collateral or margin obligations for securities and certain derivative contracts. Cash collateral posted and/or cash pledged in the Statement of Assets and Liabilities are comprised of cash collateral. 
See Notes to Financial Statements
20

MFS Global Opportunistic Bond Fund
Financial Statements | Statement of Assets and Liabilities
This statement represents your fund’s balance sheet, which details the assets and liabilities comprising the total value of the fund. 
At 5/31/26 (unaudited)
Assets
Investments in unaffiliated issuers, at value (identified cost, $991,038,286)
$994,091,617
Investments in affiliated issuers, at value (identified cost, $23,522,833)
23,524,001
Cash
109,983
Foreign currency, at value (identified cost, $832)
834
Cash collateral posted for
Forward foreign currency exchange contracts
347,000
Receivables for
Net daily variation margin on open cleared swap agreements
17,649
Forward foreign currency exchange contracts
6,833,476
Net daily variation margin on open futures contracts
116,948
Investments sold
3,591,653
Fund shares sold
221,873
Interest and dividends
11,762,557
Other assets
43,091
Total assets
$1,040,660,682
Liabilities
Payables for
Distributions
$3,451
Forward foreign currency exchange contracts
2,217,731
Investments purchased
9,133,629
When-issued investments purchased
2,700,836
TBA purchase commitments
492,195
Fund shares reacquired
502,848
Payable to affiliates
Investment adviser
59,756
Administrative services fee
1,625
Shareholder servicing costs
13,514
Distribution and service fees
596
Payable for independent Trustees' compensation
3,401
Accrued expenses and other liabilities
106,009
Total liabilities
$15,235,591
Net assets
$1,025,425,091
Net assets consist of
Paid-in capital
$1,140,358,367
Total distributable earnings (loss)
(114,933,276
)
Net assets
$1,025,425,091
Shares of beneficial interest outstanding
126,083,964
 
 
Net assets
Shares
outstanding
Net asset value
per share (a)
Class A
$16,968,561
2,074,860
$8.18
Class B
43,407
5,334
8.14
Class C
276,560
33,991
8.14
Class I
15,427,000
1,895,776
8.14
Class R1
542,321
66,682
8.13
Class R2
274,564
33,755
8.13
Class R3
982,863
120,903
8.13
Class R4
507,339
62,306
8.14
Class R6
990,402,476
121,790,357
8.13
 
See Notes to Financial Statements
21

MFS Global Opportunistic Bond Fund
Statement of Assets and Liabilities - continued
(a)
Maximum offering price per share was equal to the net asset value per share for all share classes, except for Class A, for which the maximum
offering price per share was $8.54 [100 / 95.75 x $8.18]. On sales of $100,000 or more, the maximum offering price of Class A shares is
reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, and Class C shares. Redemption price per
share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6.
See Notes to Financial Statements
22

MFS Global Opportunistic Bond Fund
Financial Statements | Statement of Operations
This statement describes how much your fund earned in investment income and accrued in expenses. It also describes any gains and/or losses generated by fund operations. 
Six months ended 5/31/26 (unaudited)
Net investment income (loss)
 
Income
Interest
$24,780,789
Dividends from affiliated issuers
325,047
Other
14,630
Foreign taxes withheld
(6,312
)
Total investment income
$25,114,154
Expenses
Management fee
$2,807,700
Distribution and service fees
25,864
Shareholder servicing costs
36,931
Administrative services fee
73,350
Independent Trustees' compensation
11,108
Custodian fee
87,647
Shareholder communications
7,748
Audit and tax fees
49,970
Legal fees
2,656
Miscellaneous
129,571
Total expenses
$3,232,545
Fees paid indirectly
(6,830
)
Reduction of expenses by investment adviser and distributor
(70,174
)
Net expenses
$3,155,541
Net investment income (loss)
$21,958,613
Realized and unrealized gain (loss)
Realized gain (loss) (identified cost basis)
Unaffiliated issuers (includes $3 foreign capital gains tax)
$(4,291,531
)
Affiliated issuers
(4,221
)
Written options
578,156
Futures contracts
(2,534,025
)
Swap agreements
608,381
Forward foreign currency exchange contracts
(3,229,483
)
Foreign currency
116,872
Net realized gain (loss)
$(8,755,851
)
Change in unrealized appreciation or depreciation
Unaffiliated issuers
$(8,785,968
)
Affiliated issuers
(913
)
Written options
(400,719
)
Futures contracts
545,666
Swap agreements
567,017
Forward foreign currency exchange contracts
2,279,960
Translation of assets and liabilities in foreign currencies
30,387
Net unrealized gain (loss)
$(5,764,570
)
Net realized and unrealized gain (loss)
$(14,520,421
)
Change in net assets from operations
$7,438,192
See Notes to Financial Statements
23

MFS Global Opportunistic Bond Fund
Financial Statements | Statements of Changes in Net Assets
These statements describe the increases and/or decreases in net assets resulting from operations, any distributions, and any shareholder transactions. 
 
Six months ended
Year ended
 

5/31/26
(unaudited)

11/30/25
Change in net assets
 
 
From operations
Net investment income (loss)
$21,958,613
$40,864,804
Net realized gain (loss)
(8,755,851
)
(3,282,647
)
Net unrealized gain (loss)
(5,764,570
)
11,151,962
Change in net assets from operations
$7,438,192
$48,734,119
Total distributions to shareholders
$(30,356,876
)
$(36,026,513
)
Change in net assets from fund share transactions
$5,566,815
$(25,448,084
)
Total change in net assets
$(17,351,869
)
$(12,740,478
)
Net assets
At beginning of period
1,042,776,960
1,055,517,438
At end of period
$1,025,425,091
$1,042,776,960
See Notes to Financial Statements
24

MFS Global Opportunistic Bond Fund
Financial Statements | Financial Highlights
The financial highlights table is intended to help you understand the fund's financial performance for the semiannual period and the past 5 fiscal years. Certain information reflects financial results for a single fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the fund share class (assuming reinvestment of all distributions) held for the entire period. 
Class A 
Six months
ended
Year ended
 
5/31/26
(unaudited)
11/30/25
11/30/24
11/30/23
11/30/22
11/30/21
Net asset value, beginning of period
$8.36
$8.25
$7.86
$7.96
$9.33
$9.82
Income (loss) from investment operations
Net investment income (loss) (d)
$0.16
$0.30
$0.30
$0.27
$0.18
$0.13
Net realized and unrealized gain (loss)
(0.11
)
0.08
0.34
(0.06
)
(1.10
)
(0.28
)
Total from investment operations
$0.05
$0.38
$0.64
$0.21
$(0.92
)
$(0.15
)
Less distributions declared to shareholders
From net investment income
$(0.23
)
$(0.27
)
$(0.25
)
$(0.16
)
$(0.16
)
$(0.18
)
From net realized gain
(0.15
)
(0.26
)
(0.16
)
From tax return of capital
(0.03
)
Total distributions declared to shareholders
$(0.23
)
$(0.27
)
$(0.25
)
$(0.31
)
$(0.45
)
$(0.34
)
Net asset value, end of period (x)
$8.18
$8.36
$8.25
$7.86
$7.96
$9.33
Total return (%) (r)(s)(t)(x)
0.60
(n)
4.65
8.23
2.68
(10.28
)
(1.64
)
Ratios (%) (to average net assets)
and Supplemental data:
Expenses before expense reductions (f)
0.95
(a)
0.95
0.95
0.97
0.95
1.05
Expenses after expense reductions (f)
0.94
(a)
0.94
0.94
0.95
0.94
0.99
Net investment income (loss)
3.95
(a)
3.70
3.67
3.41
2.23
1.40
Portfolio turnover rate
58
(n)
133
146
139
150
216
Net assets at end of period (000 omitted)
$16,969
$13,507
$15,574
$13,538
$15,419
$21,218
Supplemental Rate:
Portfolio turnover rate (excluding TBA transactions) (e)
52
119
114
N/A
N/A
N/A
 
See Notes to Financial Statements
25

MFS Global Opportunistic Bond Fund
Financial Highlights - continued
Class B 
Six months
ended
Year ended
 
5/31/26
(unaudited)
11/30/25
11/30/24
11/30/23
11/30/22
11/30/21
Net asset value, beginning of period
$8.32
$8.21
$7.82
$7.92
$9.28
$9.77
Income (loss) from investment operations
Net investment income (loss) (d)
$0.13
$0.24
$0.24
$0.21
$0.12
$0.06
Net realized and unrealized gain (loss)
(0.11
)
0.07
0.34
(0.06
)
(1.09
)
(0.29
)
Total from investment operations
$0.02
$0.31
$0.58
$0.15
$(0.97
)
$(0.23
)
Less distributions declared to shareholders
From net investment income
$(0.20
)
$(0.20
)
$(0.19
)
$(0.10
)
$(0.11
)
$(0.10
)
From net realized gain
(0.15
)
(0.26
)
(0.16
)
From tax return of capital
(0.02
)
Total distributions declared to shareholders
$(0.20
)
$(0.20
)
$(0.19
)
$(0.25
)
$(0.39
)
$(0.26
)
Net asset value, end of period (x)
$8.14
$8.32
$8.21
$7.82
$7.92
$9.28
Total return (%) (r)(s)(t)(x)
0.22
(n)
3.88
7.45
1.91
(10.92
)
(2.40
)
Ratios (%) (to average net assets)
and Supplemental data:
Expenses before expense reductions (f)
1.70
(a)
1.70
1.70
1.71
1.70
1.80
Expenses after expense reductions (f)
1.68
(a)
1.69
1.69
1.70
1.69
1.75
Net investment income (loss)
3.17
(a)
2.95
2.96
2.62
1.47
0.64
Portfolio turnover rate
58
(n)
133
146
139
150
216
Net assets at end of period (000 omitted)
$43
$31
$55
$97
$165
$268
Supplemental Rate:
Portfolio turnover rate (excluding TBA transactions) (e)
52
119
114
N/A
N/A
N/A
 
See Notes to Financial Statements
26

MFS Global Opportunistic Bond Fund
Financial Highlights - continued
Class C 
Six months
ended
Year ended
 
5/31/26
(unaudited)
11/30/25
11/30/24
11/30/23
11/30/22
11/30/21
Net asset value, beginning of period
$8.32
$8.21
$7.83
$7.92
$9.28
$9.77
Income (loss) from investment operations
Net investment income (loss) (d)
$0.13
$0.24
$0.24
$0.21
$0.12
$0.06
Net realized and unrealized gain (loss)
(0.11
)
0.07
0.33
(0.05
)
(1.09
)
(0.29
)
Total from investment operations
$0.02
$0.31
$0.57
$0.16
$(0.97
)
$(0.23
)
Less distributions declared to shareholders
From net investment income
$(0.20
)
$(0.20
)
$(0.19
)
$(0.10
)
$(0.11
)
$(0.10
)
From net realized gain
(0.15
)
(0.26
)
(0.16
)
From tax return of capital
(0.02
)
Total distributions declared to shareholders
$(0.20
)
$(0.20
)
$(0.19
)
$(0.25
)
$(0.39
)
$(0.26
)
Net asset value, end of period (x)
$8.14
$8.32
$8.21
$7.83
$7.92
$9.28
Total return (%) (r)(s)(t)(x)
0.21
(n)
3.88
7.31
2.04
(10.92
)
(2.40
)
Ratios (%) (to average net assets)
and Supplemental data:
Expenses before expense reductions (f)
1.70
(a)
1.70
1.70
1.72
1.70
1.80
Expenses after expense reductions (f)
1.69
(a)
1.68
1.69
1.70
1.69
1.75
Net investment income (loss)
3.21
(a)
2.95
2.93
2.65
1.47
0.63
Portfolio turnover rate
58
(n)
133
146
139
150
216
Net assets at end of period (000 omitted)
$277
$285
$310
$328
$420
$812
Supplemental Rate:
Portfolio turnover rate (excluding TBA transactions) (e)
52
119
114
N/A
N/A
N/A
 
See Notes to Financial Statements
27

MFS Global Opportunistic Bond Fund
Financial Highlights - continued
Class I 
Six months
ended
Year ended
 
5/31/26
(unaudited)
11/30/25
11/30/24
11/30/23
11/30/22
11/30/21
Net asset value, beginning of period
$8.32
$8.21
$7.83
$7.92
$9.29
$9.78
Income (loss) from investment operations
Net investment income (loss) (d)
$0.17
$0.32
$0.32
$0.29
$0.21
$0.16
Net realized and unrealized gain (loss)
(0.11
)
0.07
0.33
(0.05
)
(1.11
)
(0.29
)
Total from investment operations
$0.06
$0.39
$0.65
$0.24
$(0.90
)
$(0.13
)
Less distributions declared to shareholders
From net investment income
$(0.24
)
$(0.28
)
$(0.27
)
$(0.18
)
$(0.18
)
$(0.20
)
From net realized gain
(0.15
)
(0.26
)
(0.16
)
From tax return of capital
(0.03
)
Total distributions declared to shareholders
$(0.24
)
$(0.28
)
$(0.27
)
$(0.33
)
$(0.47
)
$(0.36
)
Net asset value, end of period (x)
$8.14
$8.32
$8.21
$7.83
$7.92
$9.29
Total return (%) (r)(s)(t)(x)
0.72
(n)
4.91
8.38
3.07
(10.11
)
(1.40
)
Ratios (%) (to average net assets)
and Supplemental data:
Expenses before expense reductions (f)
0.70
(a)
0.70
0.70
0.71
0.70
0.80
Expenses after expense reductions (f)
0.69
(a)
0.68
0.68
0.70
0.68
0.74
Net investment income (loss)
4.20
(a)
3.96
3.90
3.66
2.48
1.64
Portfolio turnover rate
58
(n)
133
146
139
150
216
Net assets at end of period (000 omitted)
$15,427
$21,518
$15,780
$10,245
$9,541
$12,395
Supplemental Rate:
Portfolio turnover rate (excluding TBA transactions) (e)
52
119
114
N/A
N/A
N/A
 
See Notes to Financial Statements
28

MFS Global Opportunistic Bond Fund
Financial Highlights - continued
Class R1 
Six months
ended
Year ended
 
5/31/26
(unaudited)
11/30/25
11/30/24
11/30/23
11/30/22
11/30/21
Net asset value, beginning of period
$8.31
$8.20
$7.82
$7.91
$9.28
$9.77
Income (loss) from investment operations
Net investment income (loss) (d)
$0.13
$0.24
$0.24
$0.21
$0.12
$0.06
Net realized and unrealized gain (loss)
(0.11
)
0.07
0.33
(0.05
)
(1.10
)
(0.29
)
Total from investment operations
$0.02
$0.31
$0.57
$0.16
$(0.98
)
$(0.23
)
Less distributions declared to shareholders
From net investment income
$(0.20
)
$(0.20
)
$(0.19
)
$(0.10
)
$(0.11
)
$(0.10
)
From net realized gain
(0.15
)
(0.26
)
(0.16
)
From tax return of capital
(0.02
)
Total distributions declared to shareholders
$(0.20
)
$(0.20
)
$(0.19
)
$(0.25
)
$(0.39
)
$(0.26
)
Net asset value, end of period (x)
$8.13
$8.31
$8.20
$7.82
$7.91
$9.28
Total return (%) (r)(s)(t)(x)
0.21
(n)
3.88
7.32
2.05
(11.03
)
(2.40
)
Ratios (%) (to average net assets)
and Supplemental data:
Expenses before expense reductions (f)
1.70
(a)
1.70
1.70
1.72
1.70
1.80
Expenses after expense reductions (f)
1.69
(a)
1.69
1.69
1.70
1.69
1.74
Net investment income (loss)
3.21
(a)
2.96
2.93
2.66
1.51
0.65
Portfolio turnover rate
58
(n)
133
146
139
150
216
Net assets at end of period (000 omitted)
$542
$543
$497
$530
$579
$615
Supplemental Rate:
Portfolio turnover rate (excluding TBA transactions) (e)
52
119
114
N/A
N/A
N/A
 
See Notes to Financial Statements
29

MFS Global Opportunistic Bond Fund
Financial Highlights - continued
Class R2 
Six months
ended
Year ended
 
5/31/26
(unaudited)
11/30/25
11/30/24
11/30/23
11/30/22
11/30/21
Net asset value, beginning of period
$8.31
$8.21
$7.82
$7.91
$9.28
$9.77
Income (loss) from investment operations
Net investment income (loss) (d)
$0.15
$0.28
$0.28
$0.25
$0.16
$0.11
Net realized and unrealized gain (loss)
(0.11
)
0.06
0.34
(0.05
)
(1.10
)
(0.29
)
Total from investment operations
$0.04
$0.34
$0.62
$0.20
$(0.94
)
$(0.18
)
Less distributions declared to shareholders
From net investment income
$(0.22
)
$(0.24
)
$(0.23
)
$(0.14
)
$(0.15
)
$(0.15
)
From net realized gain
(0.15
)
(0.26
)
(0.16
)
From tax return of capital
(0.02
)
Total distributions declared to shareholders
$(0.22
)
$(0.24
)
$(0.23
)
$(0.29
)
$(0.43
)
$(0.31
)
Net asset value, end of period (x)
$8.13
$8.31
$8.21
$7.82
$7.91
$9.28
Total return (%) (r)(s)(t)(x)
0.47
(n)
4.27
7.98
2.56
(10.58
)
(1.91
)
Ratios (%) (to average net assets)
and Supplemental data:
Expenses before expense reductions (f)
1.20
(a)
1.20
1.20
1.22
1.20
1.30
Expenses after expense reductions (f)
1.19
(a)
1.19
1.19
1.21
1.19
1.24
Net investment income (loss)
3.71
(a)
3.45
3.43
3.17
2.00
1.16
Portfolio turnover rate
58
(n)
133
146
139
150
216
Net assets at end of period (000 omitted)
$275
$282
$396
$411
$656
$822
Supplemental Rate:
Portfolio turnover rate (excluding TBA transactions) (e)
52
119
114
N/A
N/A
N/A
 
See Notes to Financial Statements
30

MFS Global Opportunistic Bond Fund
Financial Highlights - continued
Class R3 
Six months
ended
Year ended
 
5/31/26
(unaudited)
11/30/25
11/30/24
11/30/23
11/30/22
11/30/21
Net asset value, beginning of period
$8.31
$8.20
$7.82
$7.92
$9.28
$9.77
Income (loss) from investment operations
Net investment income (loss) (d)
$0.16
$0.30
$0.29
$0.27
$0.19
$0.13
Net realized and unrealized gain (loss)
(0.11
)
0.07
0.34
(0.06
)
(1.10
)
(0.28
)
Total from investment operations
$0.05
$0.37
$0.63
$0.21
$(0.91
)
$(0.15
)
Less distributions declared to shareholders
From net investment income
$(0.23
)
$(0.26
)
$(0.25
)
$(0.16
)
$(0.16
)
$(0.18
)
From net realized gain
(0.15
)
(0.26
)
(0.16
)
From tax return of capital
(0.03
)
Total distributions declared to shareholders
$(0.23
)
$(0.26
)
$(0.25
)
$(0.31
)
$(0.45
)
$(0.34
)
Net asset value, end of period (x)
$8.13
$8.31
$8.20
$7.82
$7.92
$9.28
Total return (%) (r)(s)(t)(x)
0.59
(n)
4.65
8.12
2.68
(10.24
)
(1.66
)
Ratios (%) (to average net assets)
and Supplemental data:
Expenses before expense reductions (f)
0.95
(a)
0.95
0.95
0.97
0.95
1.05
Expenses after expense reductions (f)
0.94
(a)
0.93
0.93
0.95
0.94
1.00
Net investment income (loss)
3.96
(a)
3.71
3.65
3.40
2.25
1.39
Portfolio turnover rate
58
(n)
133
146
139
150
216
Net assets at end of period (000 omitted)
$983
$1,199
$815
$499
$435
$566
Supplemental Rate:
Portfolio turnover rate (excluding TBA transactions) (e)
52
119
114
N/A
N/A
N/A
 
See Notes to Financial Statements
31

MFS Global Opportunistic Bond Fund
Financial Highlights - continued
Class R4 
Six months
ended
Year ended
 
5/31/26
(unaudited)
11/30/25
11/30/24
11/30/23
11/30/22
11/30/21
Net asset value, beginning of period
$8.32
$8.21
$7.83
$7.92
$9.29
$9.77
Income (loss) from investment operations
Net investment income (loss) (d)
$0.17
$0.32
$0.32
$0.29
$0.21
$0.15
Net realized and unrealized gain (loss)
(0.11
)
0.07
0.33
(0.05
)
(1.11
)
(0.27
)
Total from investment operations
$0.06
$0.39
$0.65
$0.24
$(0.90
)
$(0.12
)
Less distributions declared to shareholders
From net investment income
$(0.24
)
$(0.28
)
$(0.27
)
$(0.18
)
$(0.18
)
$(0.20
)
From net realized gain
(0.15
)
(0.26
)
(0.16
)
From tax return of capital
(0.03
)
Total distributions declared to shareholders
$(0.24
)
$(0.28
)
$(0.27
)
$(0.33
)
$(0.47
)
$(0.36
)
Net asset value, end of period (x)
$8.14
$8.32
$8.21
$7.83
$7.92
$9.29
Total return (%) (r)(s)(t)(x)
0.72
(n)
4.91
8.38
3.07
(10.11
)
(1.30
)
Ratios (%) (to average net assets)
and Supplemental data:
Expenses before expense reductions (f)
0.70
(a)
0.70
0.70
0.72
0.70
0.81
Expenses after expense reductions (f)
0.69
(a)
0.68
0.69
0.70
0.69
0.76
Net investment income (loss)
4.21
(a)
3.95
3.92
3.67
2.51
1.61
Portfolio turnover rate
58
(n)
133
146
139
150
216
Net assets at end of period (000 omitted)
$507
$381
$252
$192
$181
$213
Supplemental Rate:
Portfolio turnover rate (excluding TBA transactions) (e)
52
119
114
N/A
N/A
N/A
 
See Notes to Financial Statements
32

MFS Global Opportunistic Bond Fund
Financial Highlights - continued
Class R6 
Six months
ended
Year ended
 
5/31/26
(unaudited)
11/30/25
11/30/24
11/30/23
11/30/22
11/30/21
Net asset value, beginning of period
$8.31
$8.20
$7.82
$7.91
$9.28
$9.76
Income (loss) from investment operations
Net investment income (loss) (d)
$0.17
$0.33
$0.32
$0.29
$0.21
$0.17
Net realized and unrealized gain (loss)
(0.11
)
0.07
0.33
(0.04
)
(1.10
)
(0.28
)
Total from investment operations
$0.06
$0.40
$0.65
$0.25
$(0.89
)
$(0.11
)
Less distributions declared to shareholders
From net investment income
$(0.24
)
$(0.29
)
$(0.27
)
$(0.19
)
$(0.19
)
$(0.21
)
From net realized gain
(0.15
)
(0.26
)
(0.16
)
From tax return of capital
(0.03
)
Total distributions declared to shareholders
$(0.24
)
$(0.29
)
$(0.27
)
$(0.34
)
$(0.48
)
$(0.37
)
Net asset value, end of period (x)
$8.13
$8.31
$8.20
$7.82
$7.91
$9.28
Total return (%) (r)(s)(t)(x)
0.76
(n)
5.00
8.47
3.16
(10.05
)
(1.22
)
Ratios (%) (to average net assets)
and Supplemental data:
Expenses before expense reductions (f)
0.62
(a)
0.62
0.62
0.62
0.61
0.70
Expenses after expense reductions (f)
0.61
(a)
0.61
0.61
0.61
0.60
0.65
Net investment income (loss)
4.29
(a)
4.04
4.01
3.76
2.58
1.75
Portfolio turnover rate
58
(n)
133
146
139
150
216
Net assets at end of period (000 omitted)
$990,402
$1,005,032
$1,021,839
$939,060
$931,367
$1,155,980
Supplemental Rate:
Portfolio turnover rate (excluding TBA transactions) (e)
52
119
114
N/A
N/A
N/A
 
(a)
Annualized.
(d)
Per share data is based on average shares outstanding.
(e)
Portfolio turnover rate (excluding TBA transactions) is disclosed beginning with the period ending November 30, 2024. Refer to Note 2 for more
information on TBA transactions and mortgage dollar rolls.
(f)
Ratios do not reflect reductions from fees paid indirectly, if applicable. See Note 2 in the Notes to Financial Statements for additional information.
(n)
Not annualized.
(r)
Certain expenses have been reduced without which performance would have been lower.
(s)
From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower.
(t)
Total returns do not include any applicable sales charges.
(x)
The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted
accounting principles required at period end for financial reporting purposes.
See Notes to Financial Statements
33

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited)
(1) Business and Organization
MFS Global Opportunistic Bond Fund (the fund) is a diversified series of MFS Series Trust X (the trust). The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company.
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.
(2) Significant Accounting Policies
General — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. In the preparation of these financial statements, management has evaluated subsequent events occurring after the date of the fund’s Statement of Assets and Liabilities through the date that the financial statements were issued. The fund invests in foreign securities, including securities of emerging market issuers. Investments in foreign securities are vulnerable to the effects of changes in the relative values of the local currency and the U.S. dollar and to the effects of changes in each country’s market, economic, industrial, political, regulatory, geopolitical, environmental, public health, and other conditions. Investments tied economically to emerging markets, especially frontier markets, can involve additional and greater risks than the risks associated with investments in developed markets.  Emerging markets can have less developed markets, greater custody and operational risk, less developed legal, regulatory, and accounting systems, greater government involvement in the economy, greater risk of new or inconsistent government treatment of or restrictions on issuers and instruments, and greater political, social, geopolitical, and economic instability than developed markets.
The fund may invest up to 35% of its total assets in the securities of issuers in any particular industry if, at the time of investment, that industry represents more than 20% of the global bond market, as a whole, as measured by an index determined by MFS to be an appropriate measure of the global bond market. At May 31, 2026, the fund did not have more than 25% of its assets invested in any one industry.
Segment Reporting — An operating segment is defined in FASB Accounting Standards Codification Topic 280, Segment Reporting as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the entity’s chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available. The fund represents a single operating segment and the Chairman’s Committee of the fund's adviser acts as the segment’s CODM. The fund’s total returns, expense ratios, and changes in net assets which are used by the CODM to assess segment performance and to make resource allocation decisions to the segment are consistent with that presented within the fund’s financial statements.
Balance Sheet Offsetting — The fund's accounting policy with respect to balance sheet offsetting is that, absent an event of default by the counterparty or a termination of the agreement, the International Swaps and Derivatives Association (ISDA) Master Agreement, or similar agreement, does not result in an offset of reported amounts of financial assets and financial liabilities in the Statement of Assets and Liabilities across transactions between the fund and the applicable counterparty. The fund's right to setoff may be restricted or prohibited by the bankruptcy or insolvency laws of the particular jurisdiction to which a specific master netting agreement counterparty is subject. Balance sheet offsetting disclosures, to the extent applicable to the fund, have been included in the fund’s Significant Accounting Policies note under the captions for each of the fund’s in-scope financial instruments and transactions.
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. Exchange-traded options are generally valued at the last sale or official closing price on their primary exchange as provided by a third-party pricing service. Exchange-traded options for which there were no sales reported that day are generally valued at the last daily bid quotation on their
34

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
primary exchange as provided by a third-party pricing service. For put options, the position may be valued at the last daily ask quotation if there are no trades reported during the day. Options not traded on an exchange are generally valued at a broker/dealer bid quotation. Foreign currency options are generally valued at valuations provided by a third-party pricing service. Futures contracts are generally valued at last posted settlement price on their primary exchange as provided by a third-party pricing service. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation on their primary exchange as provided by a third-party pricing service. Forward foreign currency exchange contracts are generally valued at the mean of bid and asked prices for the time period interpolated from rates provided by a third-party pricing service for proximate time periods. Swap agreements are generally valued using valuations provided by a third-party pricing service, which for cleared swaps includes an evaluation of any trading activity at the clearinghouses. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.
Under the fund’s valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser’s fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. 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. In instances where a fund holds an odd lot size position in a debt instrument, such position will typically be valued using the pricing agent’s institutional round lot price for the debt instrument. 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. Other financial instruments are derivative instruments, such as futures contracts, forward foreign currency exchange contracts, and swap agreements. The following is a summary of the levels used as of May 31, 2026 in valuing the fund's assets and liabilities:
35

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
 
Financial Instruments
Level 1
Level 2
Level 3
Total
U.S. Treasury Bonds & U.S. Government
Agencies & Equivalents
$
$26,465,410
$
$26,465,410
Non - U.S. Sovereign Debt
435,053,245
435,053,245
Municipal Bonds
6,841,882
6,841,882
U.S. Corporate Bonds
229,018,780
229,018,780
Residential Mortgage-Backed Securities
86,109,742
86,109,742
Commercial Mortgage-Backed Securities
15,188,083
15,188,083
Asset-Backed Securities (including CDOs)
26,629,579
26,629,579
Foreign Bonds
168,784,896
168,784,896
Investment Companies
23,524,001
23,524,001
Total
$23,524,001
$994,091,617
$—
$1,017,615,618
 
Other Financial Instruments
 
 
 
 
Futures Contracts – Assets
$1,331,482
$
$
$1,331,482
Futures Contracts – Liabilities
(405,792
)
(405,792
)
Forward Foreign Currency Exchange
Contracts – Assets
6,833,476
6,833,476
Forward Foreign Currency Exchange
Contracts – Liabilities
(2,217,731
)
(2,217,731
)
Swap Agreements – Assets
266,762
266,762
For further information regarding security characteristics, see the Portfolio of Investments.
Inflation-Adjusted Debt Securities — The fund invests in inflation-adjusted debt securities issued by the U.S. Treasury.  The principal value of these debt securities is adjusted through income according to changes in the Consumer Price Index.  These debt securities typically pay a fixed rate of interest, but this fixed rate is applied to the inflation-adjusted principal amount.  The principal paid at maturity of the debt security is typically equal to the inflation-adjusted principal amount, or the security’s original par value, whichever is greater.  Other types of inflation-adjusted securities may use other methods to adjust for other measures of inflation.
Foreign Currency Translation — Purchases and sales of foreign investments, income, and expenses are converted into U.S. dollars based upon currency exchange rates prevailing on the respective dates of such transactions or on the reporting date for foreign denominated receivables and payables. Gains and losses attributable to foreign currency exchange rates on sales of securities are recorded for financial statement purposes as net realized gains and losses on investments. Gains and losses attributable to foreign exchange rate movements on receivables, payables, income and expenses are recorded for financial statement purposes as foreign currency transaction gains and losses. That portion of both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.
Derivatives — The fund uses derivatives primarily to increase or decrease exposure to a particular market or segment of the market, or security, to increase or decrease interest rate or currency exposure, or as alternatives to direct investments. Derivatives are used for hedging or non-hedging purposes. While hedging can reduce or eliminate losses, it can also reduce or eliminate gains. When the fund uses derivatives as an investment to increase market exposure, or for hedging purposes, gains and losses from derivative instruments may be substantially greater than the derivative’s original cost.
The derivative instruments used by the fund during the period were written options, purchased options, futures contracts, forward foreign currency exchange contracts, and swap agreements. Depending on the type of derivative, a fund may exit a derivative position by entering into an offsetting transaction with a counterparty or exchange, negotiating an agreement with the derivative counterparty, or novating the position to a third party. The fund's period end derivatives, as presented in the Portfolio of Investments and the associated Derivative Contract tables, generally are indicative of the volume of its derivative activity during the period.
The following table presents, by major type of derivative contract, the fair value, on a gross basis, of the asset and liability components of derivatives held by the fund at May 31, 2026 as reported in the Statement of Assets and Liabilities: 
 
 
Fair Value (a)
Risk
Derivative Contracts
Asset Derivatives
Liability Derivatives
Interest Rate
Futures Contracts
$1,331,482
$(405,792)
Foreign Exchange
Forward Foreign Currency Exchange Contracts
6,833,476
(2,217,731)
Interest Rate
Cleared Swap Agreements
266,762
Total
 
$8,431,720
$(2,623,523)
(a)  Values presented in this table for futures contracts and cleared swap agreements correspond to the values reported in the Portfolio of Investments. Only the current day net variation margin for futures contracts and cleared swap agreements is reported separately within the Statement of Assets and Liabilities.
36

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
The following table presents, by major type of derivative contract, the realized gain (loss) on derivatives held by the fund for the six months ended May 31, 2026 as reported in the Statement of Operations: 
Risk
Futures
Contracts
Swap
Agreements
Forward Foreign
Currency
Exchange
Contracts
Unaffiliated Issuers
(Purchased
Options)
Written
Options
Interest Rate
$(2,534,025
)
$608,381
$
$
$
Foreign Exchange
(3,229,483
)
Credit
(1,908,868
)
578,156
Total
$(2,534,025
)
$608,381
$(3,229,483
)
$(1,908,868
)
$578,156
The following table presents, by major type of derivative contract, the change in unrealized appreciation or depreciation on derivatives held by the fund for the six months ended May 31, 2026 as reported in the Statement of Operations: 
Risk
Futures
Contracts
Swap
Agreements
Forward Foreign
Currency
Exchange
Contracts
Unaffiliated Issuers
(Purchased
Options)
Written
Options
Interest Rate
$545,666
$567,017
$
$
$
Foreign Exchange
2,279,960
Credit
658,567
(400,719
)
Total
$545,666
$567,017
$2,279,960
$658,567
$(400,719
)
Derivative counterparty credit risk is managed through formal evaluation of the creditworthiness of all potential counterparties. On certain, but not all, uncleared derivatives, the fund attempts to reduce its exposure to counterparty credit risk whenever possible by entering into an ISDA Master Agreement on a bilateral basis. The ISDA Master Agreement gives each party to the agreement the right to terminate all transactions traded under such agreement if there is a specified deterioration in the credit quality of the other party. Upon an event of default or a termination of the ISDA Master Agreement, the non-defaulting party has the right to close out all transactions traded under such agreement and to net amounts owed under each agreement to one net amount payable by one party to the other. This right to close out and net payments across all transactions traded under the ISDA Master Agreement could result in a reduction of the fund's credit risk to such counterparty equal to any amounts payable by the fund under the applicable transactions, if any.
Collateral and margin requirements differ by type of derivative. For exchange-traded and cleared derivatives (e.g., futures contracts, cleared swaps, and exchange-traded options), margin requirements are set by the exchange or clearing broker and the clearing house and collateral, in the form of cash or securities, is posted by the fund directly with the exchange or clearing broker. Collateral terms are counterparty agreement specific for uncleared derivatives (e.g., forward foreign currency exchange contracts, uncleared swap agreements, and uncleared options). Collateral, in the form of cash and securities, is held in segregated accounts with the fund's custodian in connection with these agreements. For derivatives traded under an ISDA Master Agreement, which contains a credit support annex, the collateral requirements are netted across all transactions traded under such counterparty-specific agreement and an amount is posted from one party to the other to collateralize such obligations. Cash that has been segregated or delivered to brokers to cover the fund's collateral or margin obligations under derivative contracts, if any, will be reported separately in the Statement of Assets and Liabilities as cash collateral posted for uncleared derivatives and/or cash pledged for exchange-traded or cleared derivatives. Securities pledged as collateral or margin for the same purpose, if any, are noted in the Portfolio of Investments. The fund may be required to make payments of interest on uncovered collateral or margin obligations with the broker. Any such payments are included in “Miscellaneous” expense in the Statement of Operations.
The following table presents the fund's derivative assets and liabilities (by type) on a gross basis as of May 31, 2026: 
37

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
Gross Amounts of:
Derivative Assets
Derivative Liabilities
Futures Contracts (a)
$116,948
$—
Cleared Swap Agreements (a)
17,649
Forward Foreign Currency Exchange Contracts
6,833,476
(2,217,731)
Total Gross Amount of Derivative Assets
and Liabilities Presented in the
Statement of Assets & Liabilities
$6,968,073
$(2,217,731)
Less: Derivative Assets and Liabilities Not Subject
to a Master Netting Agreement or
Similar Arrangement
4,590,211
(769,655)
Total Gross Amount of Derivative Assets and
Liabilities Subject to a Master Netting Agreement or
Similar Arrangement
$2,377,862
$(1,448,076)
(a) The amount presented here represents the fund's current day net variation margin for futures contracts and for cleared swap agreements. This amount, which is recognized within the Statement of Assets and Liabilities, differs from the fair value of the futures contracts and cleared swap agreements which is presented in the tables that follow the Portfolio of Investments.
The following table presents (by counterparty) the fund's derivative assets net of amounts available for offset under Master Netting Agreements (or similar arrangements) and net of the related collateral posted by the counterparty at May 31, 2026: 
 
 
Amounts Not Offset in the
Statement of Assets & Liabilities
 
Gross Amount
of Derivative
Assets Subject
to a Master
Netting
Agreement (or
Similar
Arrangement)
by Counterparty
Financial
Instruments
Available
for Offset
Financial
Instruments
Collateral
Posted by
Counterparty (b)
Cash
Collateral
Posted by
Counterparty (b)
Net Amount
of Derivative
Assets by
Counterparty
Barclays Bank PLC
$796,077
$(65,800)
$—
$(520,000)
$210,277
BNP Paribas
3,072
3,072
Citibank N.A.
1,046,451
(280,671)
(640,000)
125,780
Deutsche Bank AG
404
(42)
362
Goldman Sachs International
81,998
(8,046)
73,952
JPMorgan Chase Bank N.A.
201,406
(201,406)
Merrill Lynch International
248,454
(248,454)
Total
$2,377,862
$(804,419)
$—
$(1,160,000)
$413,443
The following table presents (by counterparty) the fund's derivative liabilities net of amounts available for offset under Master Netting Agreements (or similar arrangements) and net of the related collateral posted by the fund at May 31, 2026: 
38

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
 
 
Amounts Not Offset in the
Statement of Assets & Liabilities
 
Gross Amount
of Derivative
Liabilities Subject
to a Master
Netting
Agreement (or
Similar
Arrangement)
by Counterparty
Financial
Instruments
Available
for Offset
Financial
Instruments
Collateral
Posted by
Fund (b)
Cash
Collateral
Posted by
Fund (b)
Net Amount
of Derivative
Liabilities by
Counterparty
Barclays Bank PLC
$(65,800)
$65,800
$—
$—
$—
Citibank N.A.
(280,671)
280,671
Deutsche Bank AG
(42)
42
Goldman Sachs International
(8,046)
8,046
JPMorgan Chase Bank N.A.
(836,877)
201,406
347,000
(288,471)
Merrill Lynch International
(256,640)
248,454
(8,186)
Total
$(1,448,076)
$804,419
$—
$347,000
$(296,657)
(b) The amount presented here may be less than the total amount of collateral posted by the counterparty/by the fund. Excess collateral is not shown for purposes of this presentation.
Written Options - In exchange for a premium, the fund wrote put options on securities for which it anticipated the price would increase. At the time the option was written, the fund believed the premium received exceeded the potential loss that could result from adverse price changes in the options’ underlying securities. In a written option, the fund as the option writer grants the buyer the right to purchase from, or sell to, the fund a specified number of shares or units of a particular security, currency or index at a specified price within a specified period of time.
A written swaption represents an option that if exercised by the buyer, obligates the fund as option writer to enter into a pre-defined interest rate swap agreement with the counterparty at a specified rate at a specified date or within a specified period of time. The fund enters into swaptions primarily to preserve a return or spread on a particular investment or portion of the fund’s investments, to adjust the fund’s sensitivity to underlying risk factors or to protect against an increase or decrease in the price of securities.
The premium received is initially recorded as a liability in the Statement of Assets and Liabilities. The option is subsequently marked-to-market daily with the difference between the premium received and the market value of the written option being recorded as unrealized appreciation or depreciation. When a written option expires, the fund realizes a gain equal to the amount of the premium received. The difference between the premium received and the amount paid on effecting a closing transaction is considered a realized gain or loss. When a written call option is exercised, the premium received is offset against the proceeds to determine the realized gain or loss. 
At the initiation of the written option contract, for exchange traded options, the fund is required to deposit securities or cash as collateral with the custodian for the benefit of the broker or directly with the clearing broker, based on the type of option. For uncleared options, the fund may post collateral subject to the terms of an ISDA Master Agreement as generally described above if the market value of the options contract moves against it. The fund, as writer of an option, may have no control over whether the underlying securities may be sold (call) or purchased (put) and, as a result, bears the market risk of an unfavorable change in the price of the securities underlying the written option. Losses from writing options can exceed the premium received and can exceed the potential loss from an ordinary buy and sell transaction. Although the fund’s market risk may be significant, the maximum counterparty credit risk to the fund is equal to the market value of any collateral posted to the broker. For uncleared options, this risk is mitigated in cases where there is an ISDA Master Agreement between the fund and the counterparty providing for netting as described above.
Purchased Options — The fund purchased put options for a premium. Purchased put options entitle the holder to buy and sell a specified number of shares or units of a particular security, currency or index at a specified price at a specified date or within a specified period of time. Purchasing put options may hedge against an anticipated decline in the value of portfolio securities or currency or decrease the fund's exposure to an underlying instrument.
39

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
A purchased swaption represents an option that gives the fund as purchaser the right, but not the obligation, to enter into a pre-defined interest rate swap agreement with the counterparty at a specified rate at a specified date or within a specified period of time. The fund enters into swaptions primarily to preserve a return or spread on a particular investment or portion of the fund's investments, to adjust the fund's sensitivity to underlying risk factors or to protect against an increase or decrease in the price of securities.
The premium paid is initially recorded as an investment in the Statement of Assets and Liabilities. That investment is subsequently marked-to-market daily with the difference between the premium paid and the market value of the purchased option being recorded as unrealized appreciation or depreciation. Premiums paid for purchased call and put options which have expired are treated as realized losses on investments in the Statement of Operations. Upon the exercise or closing of a purchased call option, the premium paid is added to the cost of the security or financial instrument purchased. Upon the exercise or closing of a purchased put option, the premium paid is offset against the proceeds on the sale of the underlying security or financial instrument in order to determine the realized gain or loss on investments.
Whether or not the option is exercised, the fund's maximum risk of loss from purchasing an option is the amount of premium paid.  All option contracts involve credit risk if the counterparty to the option contract fails to perform. For uncleared options, this risk is mitigated in cases where there is an ISDA Master Agreement between the fund and the counterparty providing for netting as described above and, where applicable, by the posting of collateral by the counterparty to the fund to cover the fund’s exposure to the counterparty under such ISDA Master Agreement.
Futures Contracts — The fund entered into futures contracts which may be used to hedge against or obtain broad market exposure, interest rate exposure, currency exposure, or to manage duration. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date.
Upon entering into a futures contract, the fund is required to deposit with the broker, either in cash or securities, an initial margin in an amount equal to a specified percentage of the notional amount of the contract. Subsequent payments (variation margin) are made or received by the fund each day, depending on the daily fluctuations in the value of the contract, and are recorded for financial statement purposes as unrealized gain or loss by the fund until the contract is closed or expires at which point the gain or loss on futures contracts is realized.
The fund bears the risk of interest rates, exchange rates or securities prices moving unexpectedly, in which case, the fund may not achieve the anticipated benefits of the futures contracts and may realize a loss. While futures contracts may present less counterparty risk to the fund since the contracts are exchange traded and the exchange’s clearinghouse guarantees payments to the broker, there is still counterparty credit risk due to the insolvency of the broker. The fund’s maximum risk of loss due to counterparty credit risk is equal to the margin posted by the fund to the broker plus any gains or minus any losses on the outstanding futures contracts.
Forward Foreign Currency Exchange Contracts — The fund entered into forward foreign currency exchange contracts for the purchase or sale of a specific foreign currency at a fixed price on a future date. These contracts may be used to hedge the fund’s currency risk or for non-hedging purposes. For hedging purposes, the fund may enter into contracts to deliver or receive foreign currency that the fund will receive from or use in its normal investment activities. The fund may also use contracts to hedge against declines in the value of foreign currency denominated securities due to unfavorable exchange rate movements. For non-hedging purposes, the fund may enter into contracts with the intent of changing the relative exposure of the fund’s portfolio of securities to different currencies to take advantage of anticipated exchange rate changes.
Forward foreign currency exchange contracts are adjusted by the daily exchange rate of the underlying currency and any unrealized gains or losses are recorded as a receivable or payable for forward foreign currency exchange contracts until the contract settlement date. On contract settlement date, any gain or loss on the contract is recorded as realized gains or losses on forward foreign currency exchange contracts.
Risks may arise upon entering into these contracts from unanticipated movements in the value of the contract and from the potential inability of counterparties to meet the terms of their contracts. Generally, the fund’s maximum risk due to counterparty credit risk is the unrealized gain on the contract due to the use of Continuous Linked Settlement, a multicurrency cash settlement system for the centralized settlement of foreign transactions. This risk is mitigated in cases where there is an ISDA Master Agreement between the fund and the counterparty providing for netting as described above and, where applicable, by the posting of collateral by the counterparty to the fund to cover the fund’s exposure to the counterparty under such ISDA Master Agreement.
Swap Agreements — The fund entered into swap agreements which generally involve a periodic exchange of cash payments on a net basis, at specified intervals or upon the occurrence of specified events, between the fund and a counterparty. Certain swap agreements may be entered into as a bilateral contract (“uncleared swaps”) while others are required to be centrally cleared (“cleared swaps”). 
40

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
Both cleared and uncleared swap agreements are marked to market daily.  The value of uncleared swap agreements is reported in the Statement of Assets and Liabilities as Uncleared swaps, at value which includes any related interest accruals to be paid or received by the fund.  For cleared swaps, payments (variation margin) are made or received by the fund each day, depending on the daily fluctuations in the value of the cleared swap, such that only the current day net receivable or payable for variation margin is reported in the Statement of Assets and Liabilities.
For both cleared and uncleared swaps, premiums paid or received at the inception of the agreements are amortized over the term of the agreement as realized gain or loss on swap agreements in the Statement of Operations. The periodic exchange of net cash payments, as well as any liquidation payment received or made upon early termination, are recorded as a realized gain or loss on swap agreements in the Statement of Operations. The change in unrealized appreciation or depreciation on swap agreements in the Statement of Operations reflects the aggregate change over the reporting period in the value of swaps net of any unamortized premiums paid or received.
Risks related to swap agreements include the possible lack of a liquid market, unfavorable market and interest rate movements of the underlying instrument and the failure of the counterparty to perform under the terms of the agreements. The fund's maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from/paid to the counterparty over the contract's remaining life, to the extent that the amount is positive. To address counterparty risk, uncleared swap agreements are limited to only highly-rated counterparties.  Risk is further reduced by having an ISDA Master Agreement (“ISDA”) between the fund and the counterparty and, where applicable, by the posting of collateral by the counterparty to the fund to cover the fund’s exposure to the counterparty under such ISDA. The fund's counterparty risk due to cleared swaps is mitigated by the fact that the clearinghouse is the counterparty to the transaction and the regulatory requirement safeguards in the event of a clearing broker bankruptcy.
The fund entered into interest rate swap agreements in order to manage its exposure to interest rate fluctuations.  Interest rate swap agreements involve the periodic exchange of cash flows, between the fund and a counterparty, based on the difference between two interest rates applied to a notional principal amount. The two interest rates exchanged may either be a fixed rate and a floating rate or two floating rates based on different indices.
Mortgage-Backed/Asset-Backed Securities — The fund invests a significant portion of its assets in asset-backed and/or mortgage-backed securities.  For these securities, the value of the debt instrument also depends on the credit quality and adequacy of the underlying assets or collateral as well as whether there is a security interest in the underlying assets or collateral.  Enforcing rights, if any, against the underlying assets or collateral may be difficult. U.S. Government securities not supported as to the payment of principal or interest by the U.S. Treasury, such as those issued by Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, are subject to greater credit risk than are U.S. Government securities supported by the U.S. Treasury, such as those issued by Ginnie Mae.
Indemnifications — Under the fund's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into agreements with service providers that may contain indemnification clauses. The fund's maximum exposure under these agreements is unknown as this would involve future claims that may be made against the fund that have not yet occurred.
Investment Transactions and Income —  Interest income is recorded on the accrual basis. All premium and discount is amortized or accreted for financial statement purposes in accordance with U.S. generally accepted accounting principles. Interest payments received in additional securities are recorded on the ex-interest date in an amount equal to the value of the security on such date.
The fund may receive proceeds from litigation settlements. Any proceeds received from litigation involving portfolio holdings are reflected in the Statement of Operations in realized gain/loss if the security has been disposed of by the fund or in unrealized gain/loss if the security is still held by the fund. Any other proceeds from litigation not related to portfolio holdings are reflected as other income in the Statement of Operations.
Investment transactions are recorded on the trade date.  In determining the net gain or loss on securities sold, the cost of securities is determined on the identified cost basis.
The fund may purchase or sell mortgage-backed securities on a To Be Announced (TBA) basis. A TBA transaction is subject to extended settlement and typically does not designate the actual security to be delivered, but instead includes an approximate principal amount. The price of the TBA security and the date that it will be settled are fixed at the time the transaction is negotiated. The value of the security varies with market fluctuations and no interest accrues to the fund until settlement takes place. TBA purchase and sale commitments are held at carrying amount, which approximates fair value and are categorized as level 2 within the fair value hierarchy and included in TBA purchase and TBA sale commitments in the Statement of Assets and Liabilities, as applicable. Losses may arise as a result of changes in the value of the TBA investment prior to settlement date or due to counterparty non-performance. 
41

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
The fund may also enter into mortgage dollar rolls, typically TBA dollar rolls, in which the fund sells TBA mortgage-backed securities to financial institutions and simultaneously agrees to repurchase similar (same issuer, type and coupon) securities at a later date at an agreed-upon price. During the period between the sale and repurchase, the fund will not be entitled to receive interest and principal payments on the securities sold. The fund accounts for dollar roll transactions as purchases and sales and realizes gains and losses on these transactions. As such, these transactions may result in an increase to the fund’s portfolio turnover rate. Portfolio turnover rates including and excluding TBA transactions are presented in the Financial Highlights. Dollar roll transactions involve the risk that the market value of the securities that the fund is required to purchase may decline below the agreed upon repurchase price of those securities.
The fund may purchase or sell securities on a when-issued or delayed delivery basis. In these extended settlement transactions, the receipt or delivery of the securities by the fund and related payments occur at a future date, usually beyond the customary settlement period. The price of such security and the date that the security will be settled are generally fixed at the time the transaction is negotiated. The value of the security varies with market fluctuations and for debt securities no interest accrues to the fund until settlement takes place. When the fund sells securities on a when-issued or delayed delivery basis, the fund typically owns or has the right to acquire securities equivalent in kind and amount to the securities sold. Purchase and sale commitments for when-issued or delayed delivery securities are held at carrying amount, which approximates fair value and are categorized as level 2 within the fair value hierarchy, and included in When-issued investments purchased and When-issued investments sold in the Statement of Assets and Liabilities, as applicable. Losses may arise due to changes in the value of the underlying securities prior to settlement date or if the counterparty does not perform under the contract’s terms, or if the issuer does not issue the securities.
To mitigate the counterparty credit risk on To Be Announced (TBA) transactions, mortgage dollar rolls, and other types of forward settling mortgage-backed and asset-backed security transactions, the fund whenever possible enters into a Master Securities Forward Transaction Agreement (MSFTA) on a bilateral basis with each of the counterparties with whom it undertakes a significant volume of transactions.  The MSFTA gives each party to the agreement the right to terminate all transactions traded under such agreement if there is a specified deterioration in the credit quality of the other party.  Upon an event of default or a termination of the MSFTA, the non-defaulting party has the right to close out all transactions traded under such agreement and to net amounts owed under each transaction to one net amount payable by one party to the other.  This right to close out and net payments across all transactions traded under the MSFTA could result in a reduction of the fund's credit risk to such counterparty equal to any amounts payable by the fund under the applicable transactions, if any.
For mortgage-backed and asset-backed securities traded under a MSFTA, the collateral and margining requirements are contract specific. Collateral amounts across all transactions traded under such agreement are netted and an amount is posted from one party to the other to collateralize such obligations. Cash posted to cover the fund's collateral or margin obligations under a MSFTA, if any, will be reported separately on the Statement of Assets and Liabilities as cash collateral posted. Securities pledged as collateral or margin for the same purpose, if any, are noted in the Portfolio of Investments.
Fees Paid Indirectly — The fund's custody fee may be reduced by a credit earned under an arrangement that measures the value of U.S. dollars deposited with the custodian by the fund. The amount of the credit, for the six months ended May 31, 2026, is shown as a reduction of total expenses in the Statement of Operations. 
Tax Matters and Distributions — The fund intends to qualify as a regulated investment company, as defined under Subchapter M of the Internal Revenue Code, and to distribute all of its taxable income, including realized capital gains. As a result, no provision for federal income tax is required. The fund’s federal tax returns, when filed, will remain subject to examination by the Internal Revenue Service for generally a three year period. Management has analyzed the fund’s tax positions taken on federal and state tax returns for all open tax years and does not believe that there are any uncertain tax positions that require recognition of a tax liability. Foreign taxes, if any, have been accrued by the fund in the accompanying financial statements in accordance with the applicable foreign tax law. Foreign income taxes may be withheld by certain countries in which the fund invests. Additionally, capital gains realized by the fund on securities issued in or by certain foreign countries may be subject to capital gains tax imposed by those countries.
Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These adjustments have no impact on net assets or net asset value per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes will reverse at some time in the future.
Book/tax differences primarily relate to amortization of premium and accretion of discount of debt securities, wash sale loss deferrals, straddle loss deferrals, and derivative transactions.
42

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
The tax character of distributions made during the six months ended May 31, 2026 will be determined at fiscal year end. The tax character of distributions declared to shareholders for the last fiscal year is as follows: 
 
Year ended
11/30/25
Ordinary income (including any short-term capital gains)
$36,026,513
The federal tax cost and the tax basis components of distributable earnings were as follows: 
As of 5/31/26
Cost of investments
$1,021,471,540
Gross appreciation
13,022,794
Gross depreciation
(16,878,716
)
Net unrealized appreciation (depreciation)
$(3,855,922
)
As of 11/30/25
Undistributed ordinary income
28,121,270
Capital loss carryforwards
(121,165,880
)
Other temporary differences
(3,392,876
)
Net unrealized appreciation (depreciation)
4,422,894
The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.
As of November 30, 2025, the fund had capital loss carryforwards available to offset future realized gains. These net capital losses may be carried forward indefinitely and their character is retained as short-term and/or long-term losses. Such losses are characterized as follows: 
Short-Term
$(37,495,579
)
Long-Term
(83,670,301
)
Total
$(121,165,880
)
Multiple Classes of Shares of Beneficial Interest — The fund offers multiple classes of shares, which differ in their respective distribution and service fees.  The fund's income and common expenses are allocated to shareholders based on the value of settled shares outstanding of each class.  The fund's realized and unrealized gain (loss) are allocated to shareholders based on the daily net assets of each class.  Dividends are declared separately for each class.  Differences in per share dividend rates are generally due to differences in separate class expenses.  Class B and Class C shares will convert to Class A shares approximately eight years after purchase. The fund’s distributions declared to shareholders as reported in the Statements of Changes in Net Assets are presented by class as follows: 
 
Six months ended
5/31/26
Year ended
11/30/25
Class A
$422,589
$467,871
Class B
947
1,084
Class C
6,743
5,982
Class I
530,049
569,779
Class R1
13,320
13,068
Class R2
7,255
9,964
Class R3
29,599
27,398
Class R4
11,994
7,689
Class R6
29,334,380
34,923,678
Total
$30,356,876
$36,026,513
(3) Transactions with Affiliates
Investment Adviser — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. The management fee is computed daily and paid monthly at the following annual rates based on the fund's average daily net assets: 
43

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
Up to $1 billion
0.55%
In excess of $1 billion and up to $2.5 billion
0.45%
In excess of $2.5 billion
0.425%
MFS has agreed in writing to reduce its management fee by a specified amount if certain MFS mutual fund assets exceed thresholds agreed to by MFS and the fund's Board of Trustees. MFS has also agreed in writing to waive at least 0.01% of its management fee as part of this agreement. The agreement to waive at least 0.01% of the management fee will continue until modified by the fund's Board of Trustees, but such agreement will continue at least until March 31, 2027. For the six months ended May 31, 2026, this management fee reduction amounted to $70,168, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the six months ended May 31, 2026 was equivalent to an annual effective rate of 0.53% of the fund's average daily net assets.
The investment adviser has agreed in writing to pay a portion of the fund’s total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses do not exceed the following rates annually of each class’s average daily net assets: 
 
 
 
 
Classes
 
 
 
 
A
B
C
I
R1
R2
R3
R4
R6
0.97%
1.72%
1.72%
0.72%
1.72%
1.22%
0.97%
0.72%
0.64%
This written agreement will terminate on July 31, 2026. For the six months ended May 31, 2026, the fund’s actual operating expenses did not exceed the limit and therefore, the investment adviser did not pay any portion of the fund’s expenses related to this agreement.
Effective August 1, 2026, the investment adviser has agreed in writing to pay a portion of the fund’s total annual operating expenses, excluding interest, taxes, extraordinary expenses, brokerage and transaction costs, certain tax reclaim recovery expenses (including contingency fees and closing agreement expenses), and investment-related expenses, such that total fund operating expenses do not exceed the following rates annually of each class’s average daily net assets: 
 
 
 
 
Classes
 
 
 
 
A
B
C
I
R1
R2
R3
R4
R6
0.90%
1.65%
1.65%
0.65%
1.65%
1.15%
0.90%
0.65%
0.57%
This written agreement will continue until modified by the fund’s Board of Trustees, but such agreement will continue at least until March 31, 2028.
Distributor — MFS Fund Distributors, Inc. (MFD), a wholly-owned subsidiary of MFS, as distributor, received $209 for the six months ended May 31, 2026, as its portion of the initial sales charge on sales of Class A shares of the fund.
The Board of Trustees has adopted a distribution plan for certain share classes pursuant to Rule 12b-1 of the Investment Company Act of 1940.
The fund's distribution plan provides that the fund will pay MFD for services provided by MFD and financial intermediaries in connection with the distribution and servicing of certain share classes. One component of the plan is a distribution fee paid to MFD and another component of the plan is a service fee paid to MFD. MFD may subsequently pay all, or a portion, of the distribution and/or service fees to financial intermediaries. The distribution and service fees are computed daily and paid monthly.
44

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
Distribution Plan Fee Table: 
 
Distribution
Fee Rate (d)
Service
Fee Rate (d)
Total
Distribution
Plan (d)
Annual
Effective
Rate (e)
Distribution
and Service
Fee
Class A
0.25%
0.25%
0.25%
$19,574
Class B
0.75%
0.25%
1.00%
1.00%
228
Class C
0.75%
0.25%
1.00%
1.00%
1,393
Class R1
0.75%
0.25%
1.00%
1.00%
2,748
Class R2
0.25%
0.25%
0.50%
0.50%
680
Class R3
0.25%
0.25%
0.25%
1,241
Total Distribution and Service Fees
$25,864
(d)
 In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each
class’s average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting
period. Any rate changes, if applicable, are detailed below.
(e)
 The annual effective rates represent actual fees incurred under the distribution plan for the six months ended May 31, 2026 based on each class's average daily net assets.  MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended May 31, 2026, this rebate amounted to $6 for Class A shares and is included in the reduction of total expenses in the Statement of Operations.
Certain Class A shares are subject to a contingent deferred sales charge (CDSC) in the event of a shareholder redemption within 18 months of purchase. Class B shares are subject to a CDSC in the event of a shareholder redemption within six years of purchase. Class C shares are subject to a CDSC in the event of a shareholder redemption within 12 months of purchase. All contingent deferred sales charges are paid to MFD and during the six months ended May 31, 2026, were as follows: 
 
Amount
Class A
$254
Class B
Class C
2
Shareholder Servicing Agent — MFS Service Center, Inc. (MFSC), a wholly-owned subsidiary of MFS, receives a fee from the fund for its services as shareholder servicing agent calculated as a percentage of the average daily net assets of the fund as determined periodically under the supervision of the fund's Board of Trustees. For the six months ended May 31, 2026, the fee was $10,338, which equated to 0.0020% annually of the fund's average daily net assets. MFSC also receives reimbursement from the fund for out-of-pocket expenses, sub-accounting and other shareholder servicing costs which may be paid to affiliated and unaffiliated service providers. Class R6 shares do not incur sub-accounting fees. For the six months ended May 31, 2026, these out-of-pocket expenses, sub-accounting and other shareholder servicing costs amounted to $26,593.
Administrator — MFS provides certain financial, legal, shareholder communications, compliance, and other administrative services to the fund. Under an administrative services agreement, the fund reimburses MFS the costs incurred to provide these services. The fund is charged an annual fixed amount of $17,500 plus a fee based on average daily net assets. The administrative services fee is computed daily and paid monthly. The administrative services fee incurred for the six months ended May 31, 2026 was equivalent to an annual effective rate of 0.0143% of the fund's average daily net assets.
Trustees’ and Officers’ Compensation — The fund pays compensation to independent Trustees in the form of a retainer, attendance fees, and additional compensation to Board and Committee chairpersons. Independent Trustees’ compensation is accrued daily and paid subsequent to each Trustee Board meeting. The fund does not pay compensation directly to Trustees or officers of the fund who are also officers of the investment adviser, all of whom receive remuneration from MFS for their services to the fund. Certain officers and Trustees of the fund are officers or directors of MFS, MFD, and MFSC.
Other — The fund invests in the MFS Institutional Money Market Portfolio which is managed by MFS and seeks current income consistent with preservation of capital and liquidity. This money market fund does not pay a management fee to MFS but does incur investment and operating costs.
MFS purchased or redeemed fund shares on the dates indicated: 
Date
Transaction
Class
Shares
Amount
8/19/2024
Redemption
Class A
3
$27
8/19/2024
Redemption
Class I
12
97
12/31/2025
Purchase
Class B
3,045
25,000
45

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
At May 31, 2026 MFS held approximately 58% of the outstanding shares of Class B.
(4) Portfolio Securities
For the six months ended May 31, 2026, purchases and sales of investments, other than short-term obligations were as follows: 
 
Purchases
Sales
U.S. Government securities
$121,285,968
$143,375,324
Non-U.S. Government securities
466,466,334
460,988,526
(5) Shares of Beneficial Interest
The fund's Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest. Transactions in fund shares were as follows: 
 
Six months ended
5/31/26
Year ended
11/30/25
 
Shares
Amount
Shares
Amount
Shares sold
Class A
560,552
$4,621,326
649,623
$5,334,479
Class B
3,044
25,000
1,307
10,679
Class C
695
5,660
21,486
175,096
Class I
188,262
1,544,323
1,045,503
8,638,243
Class R1
3,167
26,125
5,326
43,473
Class R2
981
8,048
2,293
18,660
Class R3
13,156
107,732
47,028
388,687
Class R4
16,908
137,217
25,837
214,730
Class R6
2,859,852
23,469,029
11,314,135
92,548,919
 
3,646,617
$29,944,460
13,112,538
$107,372,966
Shares issued to shareholders
in reinvestment of distributions
Class A
50,966
$419,201
56,208
$463,348
Class B
114
933
131
1,074
Class C
822
6,736
727
5,974
Class I
62,771
514,155
67,088
551,215
Class R1
1,628
13,320
1,593
13,068
Class R2
887
7,255
1,196
9,808
Class R3
3,619
29,599
3,341
27,398
Class R4
1,463
11,974
914
7,506
Class R6
3,584,887
29,322,260
4,254,723
34,905,739
 
3,707,157
$30,325,433
4,385,921
$35,985,130
Shares reacquired
Class A
(152,233
)
$(1,248,147
)
(977,770
)
$(8,018,851
)
Class B
(1,528
)
(12,409
)
(4,409
)
(35,961
)
Class C
(1,758
)
(14,414
)
(25,737
)
(208,940
)
Class I
(941,937
)
(7,715,904
)
(448,266
)
(3,657,944
)
Class R1
(3,396
)
(27,504
)
(2,175
)
(17,685
)
Class R2
(2,069
)
(17,027
)
(17,826
)
(145,228
)
Class R3
(40,142
)
(329,085
)
(5,464
)
(44,626
)
Class R4
(1,786
)
(14,548
)
(11,765
)
(95,790
)
Class R6
(5,551,808
)
(45,324,040
)
(19,227,626
)
(156,581,155
)
 
(6,696,657
)
$(54,703,078
)
(20,721,038
)
$(168,806,180
)
46

MFS Global Opportunistic Bond Fund
Notes to Financial Statements (unaudited) - continued 
 
Six months ended
5/31/26
Year ended
11/30/25
 
Shares
Amount
Shares
Amount
Net change
Class A
459,285
$3,792,380
(271,939
)
$(2,221,024
)
Class B
1,630
13,524
(2,971
)
(24,208
)
Class C
(241
)
(2,018
)
(3,524
)
(27,870
)
Class I
(690,904
)
(5,657,426
)
664,325
5,531,514
Class R1
1,399
11,941
4,744
38,856
Class R2
(201
)
(1,724
)
(14,337
)
(116,760
)
Class R3
(23,367
)
(191,754
)
44,905
371,459
Class R4
16,585
134,643
14,986
126,446
Class R6
892,931
7,467,249
(3,658,768
)
(29,126,497
)
 
657,117
$5,566,815
(3,222,579
)
$(25,448,084
)
The fund is one of several mutual funds in which certain MFS funds may invest. The MFS funds do not invest in the underlying funds for the purpose of exercising management or control. At the end of the period, the MFS Moderate Allocation Fund, the MFS Conservative Allocation Fund, the MFS Growth Allocation Fund, the MFS Lifetime Income Fund, the MFS Lifetime 2030 Fund, the MFS Lifetime 2035 Fund, and the MFS Lifetime 2040 Fund were the owners of record of approximately 31%, 25%, 20%, 5%, 5%, 3%, and 3%, respectively, of the value of outstanding voting shares of the fund. In addition, the MFS Lifetime 2045 Fund and the MFS Lifetime 2050 Fund were the owner of record of less than 1% of the value of outstanding voting shares of the fund.
Effective June 1, 2019, purchases of the fund’s Class B shares were closed to new and existing investors subject to certain exceptions. Effective September 29, 2023, purchases of the fund's Class R1 and Class R2 shares were closed to new eligible investors.
(6) Line of Credit
The fund and certain other funds managed by MFS participate in a $1.45 billion unsecured committed line of credit of which $1.2 billion is reserved for use by the fund and certain other MFS U.S. funds. The line of credit is provided by a syndicate of banks under a credit agreement. Borrowings may be made for temporary financing needs. Interest is charged to each fund, based on its borrowings, generally at a rate equal to the highest of 1) Daily Simple SOFR (Secured Overnight Financing Rate), 2) the Federal Funds Effective Rate, or 3) the Overnight Bank Funding Rate, each plus an agreed upon spread. A commitment fee, based on the average daily unused portion of the committed line of credit, is allocated among the participating funds. The line of credit expires on March 11, 2027 unless extended or renewed. In addition, the fund and other funds managed by MFS have established unsecured uncommitted borrowing arrangements with certain banks for temporary financing needs. Interest is charged to each fund, based on its borrowings, at rates equal to customary reference rates plus an agreed upon spread. For the six months ended May 31, 2026, the fund’s commitment fee and interest expense were $2,333 and $0, respectively, and are included in Miscellaneous expense in the Statement of Operations.
(7) Investments in Affiliated Issuers
An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the six months ended May 31, 2026: 
Affiliated Issuers
Beginning
Value
Purchases
Sales
Proceeds
Realized
Gain
(Loss)
Change in
Unrealized
Appreciation
or
Depreciation
Ending
Value
MFS Institutional Money Market
Portfolio
$10,489,323
$289,604,110
$276,564,298
$(4,221
)
$(913
)
$23,524,001
 
Affiliated Issuers
Dividend
Income
Capital Gain
Distributions
MFS Institutional Money Market Portfolio
$325,047
$
47

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
There is nothing to report for this item for MFS Global Opportunistic Bond Fund.
ITEM 9.  PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
There is nothing to report for this item for MFS Global Opportunistic Bond Fund.
ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.
This information is disclosed as part of the financial statements included in Item 7 above for MFS Global Opportunistic Bond Fund. See the Statement of Operations and Note 3 within the Notes to Financial Statements for more information.
ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.
Not Applicable.
48



ITEM 12.  DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to the Registrant.


ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES. 

Not applicable to the Registrant.


ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable to the Registrant.


ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There were no material changes to the procedures by which shareholders may send recommendations to the Board for nominees to the Registrant’s Board since the Registrant last provided disclosure as to such procedures in response to the requirements of Item 407 (c)(2)(iv) of Regulation S-K or this Item.


ITEM 16.  CONTROLS AND PROCEDURES.

  • 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 report on Form N-CSR, 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.

  • 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 period covered by the report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting. 


ITEM 17.  DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to the Registrant.


ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

Not applicable to the Registrant.


ITEM 19.  EXHIBITS.

  • Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit:  Not applicable.

  • Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the registrant’s securities are listed. Not applicable.

  • 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 as EX-99.302CERT.

  • Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons.  Not applicable.

  • Change in the registrant's independent public accountant.  Not applicable.

  • If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit.  A certification furnished pursuant to this paragraph will not be deemed “filed” for the purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section.  Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference. Attached hereto as EX-99.906CERT.


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 X                                                          

By (Signature and Title)*

/S/ DAVID L. DILORENZO

David L. DiLorenzo, President

Date:   July 16, 2026

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)*

/S/ DAVID L. DILORENZO

David L. DiLorenzo, President (Principal Executive Officer)

Date:  July 16, 2026

By (Signature and Title)*

/S/ KASEY L. PHILLIPS                                           

Kasey L. Phillips, Treasurer (Principal Financial Officer and Accounting Officer)

Date:  July 16, 2026

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