MFS SERIES TRUST X N-Q

N-Q 1 d407251dnq.htm MFS SERIES TRUST X N-Q MFS SERIES TRUST X N-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-4492

MFS SERIES TRUST X

(Exact name of registrant as specified in charter)

500 Boylston Street, Boston, Massachusetts 02116

(Address of principal executive offices) (Zip code)

Susan S. Newton

Massachusetts Financial Services Company

500 Boylston Street

Boston, Massachusetts 02116

(Name and address of agents for service)

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

Date of fiscal year end: May 31*

Date of reporting period: August 31, 2012

This Form N-Q pertains only to the following series of the Registrant: MFS Absolute Return Fund, MFS Aggressive Growth Allocation Fund, MFS Conservative Allocation Fund, MFS Emerging Markets Equity Fund, MFS Global Bond Fund, MFS Growth Allocation Fund, MFS International Diversification Fund, MFS International Growth Fund, MFS International Value Fund and MFS Moderate Allocation Fund.

ITEM 1.

SCHEDULE OF INVESTMENTS.

QUARTERLY REPORT

August 31, 2012

LOGO

MFS® AGGRESSIVE GROWTH ALLOCATION FUND

LOGO

PORTFOLIO OF INVESTMENTS

8/31/12 (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 ($)
Underlying Affiliated Funds - 99.9%
MFS Commodity Strategy Fund - Class I (v)		5,581,693	$	55,984,385
MFS Emerging Markets Equity Fund - Class R5		717,185		22,010,393
MFS Global Real Estate Fund - Class R5 (v)		3,892,776		55,355,273
MFS Growth Fund - Class R5 (a)		2,935,981		145,066,799
MFS International Growth Fund - Class R5		3,816,513		88,619,437
MFS International New Discovery Fund - Class R5		1,940,018		44,639,808
MFS International Value Fund - Class R5		3,387,385		88,884,979
MFS Mid Cap Growth Fund - Class I (a)		11,306,578		111,595,923
MFS Mid Cap Value Fund - Class I		7,710,284		111,336,495
MFS New Discovery Fund - Class R5		1,299,355		27,910,145
MFS New Discovery Value Fund - Class R5		2,732,894		27,684,214
MFS Research Fund - Class R5		3,581,127		100,092,512
MFS Research International Fund - Class R5		6,228,179		88,440,144
MFS Value Fund - Class R5		5,793,878		144,267,556
Total Underlying Affiliated Funds			$	1,111,888,063

Money Market Funds - 0.0%
MFS Institutional Money Market Portfolio, 0.16%, at Net Asset Value (v)		40,467	$	40,467
Total Investments			$	1,111,928,530

Other Assets, Less Liabilities - 0.1%				798,447
Net Assets - 100.0%			$	1,112,726,977

(a)	Non-income producing security.

(v)	Underlying affiliated fund 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.

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

Supplemental Information

8/31/12 (unaudited)

(1) Investment Valuations

Open-end investment companies (underlying funds) are generally valued at their net asset value per share. The investments of underlying funds managed by the adviser are valued as described below. For purposes of this policy disclosure, “fund” refers to the underlying fund in which the fund of fund invests.

Equity securities, including restricted equity securities, are generally valued at the last sale or official closing price as provided by a third-party pricing service on the market or exchange on which they are primarily traded. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation as provided by a third-party pricing service on the market or exchange on which such securities are primarily traded. Equity securities held short, for which there were no sales reported for that day, are generally valued at the last quoted daily ask quotation as provided by a third-party pricing service on the market or exchange on which such securities are primarily traded. Debt instruments and floating rate loans (other than short-term instruments), 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 generally are valued at amortized cost, which approximates market value. Exchange-traded options are generally valued at the last sale or official closing price as provided by a third-party pricing service on the exchange on which such options are primarily traded. Exchange-traded options for which there were no sales reported that day are generally valued at the last daily bid quotation as provided by a third-party pricing service on the exchange on which such options are primarily traded. 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 as provided by a third-party pricing service on the market on which they are primarily traded. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation as provided by a third-party pricing service on the market on which such futures contracts are primarily traded. 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 at valuations provided by a third-party pricing service. Open-end investment companies are generally valued at net asset value per share. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. Values obtained from third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

The Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund’s investments (including any fair valuation) to the adviser pursuant to valuation policies and procedures approved by the Board. If the adviser determines that reliable market quotations are not readily available, investments are valued at fair value as determined in good faith by the adviser in accordance with such procedures under the oversight of the Board of Trustees. Under the fund’s valuation policies and procedures, market quotations are not considered to be readily available for most types of debt instruments and floating rate loans and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services. In addition, investments may be valued at fair value if the adviser determines that an investment’s value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund’s net asset value, or after the halting of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur on a frequent basis after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund’s net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund’s foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund’s net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund’s net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Supplemental Information (unaudited) – continued

Level 3 includes unobservable inputs, which may include the adviser’s own assumptions in determining the fair value of investments. The following is a summary of the levels used as of August 31, 2012 in valuing the fund’s assets or liabilities:


Investments at Value	Level 1		Level 2		Level 3		Total
Mutual Funds		$1,111,928,530		$—		$—		$1,111,928,530

For further information regarding security characteristics, see the Portfolio of Investments.

(2) Portfolio Securities

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


Aggregate cost			$831,436,243
Gross unrealized appreciation			280,492,287
Gross unrealized depreciation			—
Net unrealized appreciation (depreciation)			$280,492,287

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

(3) Transactions in Underlying Affiliated Funds – Affiliated Issuers

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the fund assumes the following to be affiliated issuers:


Underlying Affiliated Funds	Beginning Shares/Par Amount		Acquisitions Shares/Par Amount		Dispositions Shares/Par Amount			Ending Shares/Par Amount
MFS Commodity Strategy Fund		6,193,199		134,615		(746,121	)		5,581,693
MFS Emerging Markets Equity Fund		732,875		757,590		(773,280	)		717,185
MFS Global Real Estate Fund		4,295,821		3,998,461		(4,401,506	)		3,892,776
MFS Growth Fund		3,082,455		3,108,493		(3,254,967	)		2,935,981
MFS Institutional Money Market Portfolio		408,265		13,517,471		(13,885,269	)		40,467
MFS International Growth Fund		3,601,855		4,046,573		(3,831,915	)		3,816,513
MFS International New Discovery Fund		2,056,403		2,069,422		(2,185,807	)		1,940,018
MFS International Value Fund		3,516,177		3,655,411		(3,784,203	)		3,387,385
MFS Mid Cap Growth Fund		11,650,844		218,010		(562,276	)		11,306,578
MFS Mid Cap Value Fund		8,125,514		48,290		(463,520	)		7,710,284
MFS New Discovery Fund		1,382,145		1,412,817		(1,495,607	)		1,299,355
MFS New Discovery Value Fund		2,864,930		2,749,257		(2,881,293	)		2,732,894
MFS Research Fund		3,754,288		3,825,835		(3,998,996	)		3,581,127
MFS Research International Fund		6,371,251		6,695,014		(6,838,086	)		6,228,179
MFS Value Fund		6,115,144		6,192,993		(6,514,259	)		5,793,878

Supplemental Information (unaudited) – continued


Underlying Affiliated Funds	Realized Gain (Loss)			Capital Gain Distributions		Dividend Income		Ending Value
MFS Commodity Strategy Fund		$(961,058	)		$—		$—		$55,984,385
MFS Emerging Markets Equity Fund		(72,350	)		—		—		22,010,393
MFS Global Real Estate Fund		(305,511	)		—		—		55,355,273
MFS Growth Fund		711,685			—		—		145,066,799
MFS Institutional Money Market Portfolio		—			—		193		40,467
MFS International Growth Fund		53,383			—		—		88,619,437
MFS International New Discovery Fund		190,469			—		—		44,639,808
MFS International Value Fund		251,536			—		—		88,884,979
MFS Mid Cap Growth Fund		535,182			—		—		111,595,923
MFS Mid Cap Value Fund		145,851			—		—		111,336,495
MFS New Discovery Fund		120,240			—		—		27,910,145
MFS New Discovery Value Fund		(86,361	)		—		—		27,684,214
MFS Research Fund		1,311,985			—		—		100,092,512
MFS Research International Fund		(730,818	)		—		—		88,440,144
MFS Value Fund		(1,322	)		—		795,635		144,267,556

		$1,162,911			$—		$795,828		$1,111,928,530

QUARTERLY REPORT

August 31, 2012

LOGO

MFS® CONSERVATIVE ALLOCATION FUND

LOGO

PORTFOLIO OF INVESTMENTS

8/31/12 (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 ($)
Underlying Affiliated Funds - 100.0%
MFS Absolute Return Fund - Class I		4,005,115	$	38,849,613
MFS Commodity Strategy Fund - Class I (v)		1,965,801		19,716,983
MFS Emerging Markets Debt Fund - Class R5		3,679,671		58,469,980
MFS Global Bond Fund - Class I		9,231,945		97,304,703
MFS Global Real Estate Fund - Class R5 (v)		1,367,700		19,448,699
MFS Government Securities Fund - Class R5		18,416,541		194,662,834
MFS Growth Fund - Class R5 (a)		2,385,215		117,853,455
MFS High Income Fund - Class R5		27,630,490		97,535,631
MFS Inflation-Adjusted Bond Fund - Class I		16,970,186		194,648,035
MFS International Growth Fund - Class R5		1,686,078		39,150,735
MFS International Value Fund - Class R5		1,492,566		39,164,945
MFS Limited Maturity Fund - Class I		31,782,641		194,509,765
MFS Mid Cap Growth Fund - Class I (a)		7,969,734		78,661,277
MFS Mid Cap Value Fund - Class I		5,411,759		78,145,806
MFS New Discovery Fund - Class R5		927,812		19,929,405
MFS New Discovery Value Fund - Class R5		1,922,391		19,473,823
MFS Research Bond Fund - Class R5		29,979,004		331,267,990
MFS Research Fund - Class R5		4,196,995		117,306,011
MFS Research International Fund - Class R5		5,526,208		78,472,152
MFS Value Fund - Class R5		4,699,682		117,022,073
Total Underlying Affiliated Funds			$	1,951,593,915

Money Market Funds - 0.0%
MFS Institutional Money Market Portfolio, 0.16%, at Net Asset Value (v)		21	$	21
Total Investments			$	1,951,593,936

Other Assets, Less Liabilities - 0.0%				776,385
Net Assets - 100.0%			$	1,952,370,321

(a)	Non-income producing security.

(v)	Underlying affiliated fund 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.

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

Supplemental Information

8/31/12 (unaudited)

(1) Investment Valuations

Equity securities, including restricted equity securities, are generally valued at the last sale or official closing price as provided by a third-party pricing service on the market or exchange on which they are primarily traded. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation as provided by a third-party pricing service on the market or exchange on which such securities are primarily traded. Equity securities held short, for which there were no sales reported for that day, are generally valued at the last quoted daily ask quotation as provided by a third-party pricing service on the market or exchange on which such securities are primarily traded. Debt instruments and floating rate loans (other than short-term instruments), 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 generally are valued at amortized cost, which approximates market value. Exchange-traded options are generally valued at the last sale or official closing price as provided by a third-party pricing service on the exchange on which such options are primarily traded. Exchange-traded options for which there were no sales reported that day are generally valued at the last daily bid quotation as provided by a third-party pricing service on the exchange on which such options are primarily traded. 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 as provided by a third-party pricing service on the market on which they are primarily traded. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation as provided by a third-party pricing service on the market on which such futures contracts are primarily traded. 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 at valuations provided by a third-party pricing service. Open-end investment companies are generally valued at net asset value per share. Securities and other assets, including commodity-linked structured notes, generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. Values obtained from third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Supplemental Information (unaudited) – continued


Investments at Value	Level 1		Level 2		Level 3		Total
Mutual Funds		$1,951,593,936		$—		$—		$1,951,593,936

For further information regarding security characteristics, see the Portfolio of Investments.

(2) Portfolio Securities

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


Aggregate cost	$1,710,797,507
Gross unrealized appreciation	$242,725,760
Gross unrealized depreciation	(1,929,331	)
Net unrealized appreciation (depreciation)	$240,796,429

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

(3) Transactions in Underlying Affiliated Funds – Affiliated Issuers


Underlying Affiliated Funds	Beginning Shares/Par Amount		Acquisitions Shares/Par Amount		Dispositions Shares/Par Amount			Ending Shares/Par Amount
MFS Absolute Return Fund		3,759,940		314,146		(68,971	)		4,005,115
MFS Commodity Strategy Fund		2,020,034		84,865		(139,098	)		1,965,801
MFS Emerging Markets Debt Fund		3,654,646		3,753,367		(3,728,342	)		3,679,671
MFS Global Bond Fund		8,772,470		636,725		(177,250	)		9,231,945
MFS Global Real Estate Fund		1,397,094		1,394,866		(1,424,260	)		1,367,700
MFS Government Securities Fund		17,347,100		18,881,764		(17,812,323	)		18,416,541
MFS Growth Fund		2,313,626		2,469,480		(2,397,891	)		2,385,215
MFS High Income Fund		26,486,596		28,283,954		(27,140,060	)		27,630,490
MFS Inflation-Adjusted Bond Fund		16,169,992		1,234,647		(434,453	)		16,970,186
MFS Institutional Money Market Portfolio		27		7,353,302		(7,353,308	)		21
MFS International Growth Fund		1,498,647		1,742,254		(1,554,823	)		1,686,078
MFS International Value Fund		1,443,257		1,543,543		(1,494,234	)		1,492,566
MFS Limited Maturity Fund		29,819,829		2,556,754		(593,942	)		31,782,641
MFS Mid Cap Growth Fund		7,596,080		565,424		(191,770	)		7,969,734
MFS Mid Cap Value Fund		5,280,692		244,281		(113,214	)		5,411,759
MFS New Discovery Fund		901,186		979,447		(952,821	)		927,812
MFS New Discovery Value Fund		1,865,764		1,977,174		(1,920,547	)		1,922,391
MFS Research Bond Fund		28,564,261		30,484,303		(29,069,560	)		29,979,004
MFS Research Fund		4,063,796		4,331,469		(4,198,270	)		4,196,995
MFS Research International Fund		5,323,565		5,746,057		(5,543,414	)		5,526,208
MFS Value Fund		4,601,800		4,848,112		(4,750,230	)		4,699,682

Supplemental Information (unaudited) – continued


Underlying Affiliated Funds	Realized Gain (Loss)			Capital Gain Distributions		Dividend Income		Ending Value
MFS Absolute Return Fund		$(33,101	)		$—		$151,270		$38,849,613
MFS Commodity Strategy Fund		(532,631	)		—		—		19,716,983
MFS Emerging Markets Debt Fund		(12,783	)		—		710,105		58,469,980
MFS Global Bond Fund		(113,959	)		—		562,556		97,304,703
MFS Global Real Estate Fund		(37,503	)		—		—		19,448,699
MFS Government Securities Fund		(12,478	)		—		1,352,699		194,662,834
MFS Growth Fund		(99,278	)		—		—		117,853,455
MFS High Income Fund		(67,880	)		—		1,622,548		97,535,631
MFS Inflation-Adjusted Bond Fund		20,227			—		992,449		194,648,035
MFS Institutional Money Market Portfolio		—			—		46		21
MFS International Growth Fund		(74,342	)		—		—		39,150,735
MFS International Value Fund		(35,292	)		—		—		39,164,945
MFS Limited Maturity Fund		(184,021	)		—		1,299,859		194,509,765
MFS Mid Cap Growth Fund		(79,269	)		—		—		78,661,277
MFS Mid Cap Value Fund		(66,897	)		—		—		78,145,806
MFS New Discovery Fund		(57,400	)		—		—		19,929,405
MFS New Discovery Value Fund		(24,669	)		—		—		19,473,823
MFS Research Bond Fund		13,578			—		2,832,406		331,267,990
MFS Research Fund		(78,175	)		—		—		117,306,011
MFS Research International Fund		(350,897	)		—		—		78,472,152
MFS Value Fund		(102,031	)		—		613,892		117,022,073

		$(1,928,801	)		$—		$10,137,830		$1,951,593,936

QUARTERLY REPORT

August 31, 2012

LOGO

MFS® EMERGING MARKETS EQUITY FUND

LOGO

PORTFOLIO OF INVESTMENTS

8/31/12 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.


Issuer	Shares/Par		Value ($)

Common Stocks - 97.9%
Aerospace - 0.4%
Embraer S.A., ADR		101,860	$	2,745,129

Airlines - 0.9%
Copa Holdings S.A., “A”		22,710	$	1,762,977
Grupo Aeroportuario del Sureste S.A. de C.V., ADR		48,180		4,046,156

			$	5,809,133
Alcoholic Beverages - 1.0%
Companhia de Bebidas das Americas, ADR		173,010	$	6,506,906

Apparel Manufacturers - 3.9%
Arezzo Industria e Comercio S.A.		189,980	$	3,179,280
Cia.Hering S.A.		90,200		1,970,723
Li & Fung Ltd.		5,608,000		9,150,559
Stella International Holdings		3,350,000		7,996,720
Top Glove Corp.		2,216,000		3,758,249

			$	26,055,531
Automotive - 4.2%
Exide Industries Ltd.		937,042	$	2,255,639
Geely Automobile Holdings Ltd.		11,245,000		3,624,581
Guangzhou Automobile Group Co. Ltd., “H”		5,282,000		3,697,085
Kia Motors Corp.		207,420		13,604,120
Mando Corp.		33,945		4,833,580

			$	28,015,005
Brokerage & Asset Managers - 2.1%
BM&F Bovespa S.A.		1,181,400	$	6,256,490
Bolsa Mexicana de Valores S.A. de C.V.		2,134,900		4,194,195
CETIP S.A. - Balcao Organizado de Ativos e Derivativos		243,743		3,133,993

			$	13,584,678
Business Services - 2.4%
Cielo S.A.		67,564	$	1,997,397
Infosys Technologies Ltd., ADR		188,520		8,017,756
LPS Brasil - Consultoria de Imoveis S.A.		220,100		3,838,386
Multiplus S.A.		94,390		2,008,793

			$	15,862,332
Cable TV - 2.5%
Dish TV India Ltd. (a)		4,734,303	$	5,481,153
Naspers Ltd.		190,460		11,083,534

			$	16,564,687
Computer Software - 0.3%
Totvs S.A.		86,200	$	1,675,250

Computer Software - Systems - 2.9%
Asustek Computer, Inc.		685,000	$	6,881,876
Hon Hai Precision Industry Co. Ltd.		4,374,309		12,460,973

			$	19,342,849

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Common Stocks - continued
Conglomerates - 0.8%
Alfa S.A de C.V., “A”		92,000	$	1,456,456
First Pacific Co. Ltd.		3,536,000		3,793,155

			$	5,249,611
Construction - 1.6%
Anhui Conch Cement Co. Ltd.		1,963,000	$	4,920,371
Corporacion Moctezuma S.A. de C.V.		783,700		1,839,978
PDG Realty S.A.		1,022,700		1,990,081
Urbi Desarrollos Urbanos S.A. de C.V. (a)		3,244,590		1,641,487

			$	10,391,917
Consumer Products - 1.9%
Dabur India Ltd.		3,625,305	$	7,987,076
Hengan International Group Co. Ltd.		274,500		2,760,590
Kimberly-Clark de Mexico S.A. de C.V., “A”		933,210		1,883,552

			$	12,631,218
Consumer Services - 1.4%
Abril Educacao S.A., IEU		128,500	$	2,043,441
Anhanguera Educacional Participacoes S.A.		182,700		2,719,034
Estacio Participacoes S.A.		154,700		2,400,636
Kroton Educacional S.A. (a)		6		7
Kroton Educacional S.A., IEU (a)		136,722		2,236,155

			$	9,399,273
Electrical Equipment - 0.2%
Crompton Greaves Ltd.		708,765	$	1,374,845

Electronics - 9.4%
Samsung Electronics Co. Ltd.		24,360	$	26,607,905
Seoul Semiconductor Co. Ltd.		182,049		3,338,779
Siliconware Precision Industries Co. Ltd.		9,906,000		11,054,429
Taiwan Semiconductor Manufacturing Co. Ltd.		7,601,695		21,181,842

			$	62,182,955
Energy - Independent - 3.9%
China Shenhua Energy Co. Ltd.		1,390,000	$	5,083,108
CNOOC Ltd.		3,177,000		6,013,236
INPEX Corp.		869		4,966,977
Reliance Industries Ltd.		687,977		9,487,368

			$	25,550,689
Energy - Integrated - 3.2%
OAO Gazprom, ADR		1,155,560	$	11,168,487
OAO NOVATEK, GDR		18,450		2,201,085
Petroleo Brasileiro S.A., ADR		359,100		7,591,374

			$	20,960,946
Food & Beverages - 0.9%
Arca Continental S.A.B de C.V.		328,592	$	2,061,570
M. Dias Branco S.A. Industria e Comercio de Alimentos		132,500		4,112,272

			$	6,173,842

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Common Stocks - continued
Food & Drug Stores - 4.2%
Brazil Pharma S.A.		320,000	$	1,970,540
CP All PLC		3,091,300		3,403,538
Dairy Farm International Holdings Ltd.		386,100		4,169,880
E-Mart Co. Ltd.		31,429		6,857,160
O’Key Group S.A., GDR		1,002,146		9,420,172
Raia Drogasil S.A.		190,900		2,019,126

			$	27,840,416
Gaming & Lodging - 0.9%
Minor International PLC		5,158,300	$	2,419,882
Shangri-La Asia Ltd.		2,046,000		3,830,339

			$	6,250,221
General Merchandise - 4.1%
Bim Birlesik Magazalar A.S.		49,700	$	2,042,148
Clicks Group Ltd.		1,268,360		8,679,127
Lojas Renner S.A.		58,900		1,941,765
Mr. Price Group Ltd.		882,964		14,301,012

			$	26,964,052
Health Maintenance Organizations - 0.3%
OdontoPrev S.A.		318,100	$	1,723,780

Insurance - 1.9%
Brasil Insurance Participacoes e Administracao S.A.		526,100	$	5,053,919
China Pacific Insurance Co. Ltd.		2,402,600		7,153,803

			$	12,207,722
Machinery & Tools - 2.5%
Glory Ltd.		208,800	$	4,676,801
Sinotruk Hong Kong Ltd.		6,657,000		3,470,600
Thermax Ltd.		230,227		2,011,718
TK Corp. (a)		241,598		6,102,899

			$	16,262,018
Major Banks - 2.7%
Bank of China Ltd.		24,471,000	$	8,921,371
Standard Chartered PLC		407,731		9,023,903

			$	17,945,274
Medical & Health Technology & Services - 0.7%
Diagnosticos da America S.A.		311,400	$	1,965,138
Fleury S.A.		268,700		2,918,782

			$	4,883,920
Metals & Mining - 4.7%
Gerdau S.A., ADR		705,580	$	6,300,829
Grupo Mexico S.A.B. de C.V., “B”		929,306		2,753,332
Iluka Resources Ltd.		412,589		3,921,649
Mining & Metallurgical Co. Norilsk Nickel, ADR		234,692		3,435,891
MOIL Ltd.		555,267		2,358,325
Steel Authority of India Ltd.		3,453,293		4,866,725
Ternium S.A., ADR		110,480		2,094,701
Vale S.A., ADR		333,090		5,452,683

			$	31,184,135

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Common Stocks - continued
Network & Telecom - 0.8%
VTech Holdings Ltd.		440,000	$	5,384,637

Oil Services - 1.5%
Global Ports Investments PLC, GDR		227,590	$	3,284,124
Lamprell PLC		1,558,360		2,270,302
Tenaris S.A., ADR		109,600		4,571,416

			$	10,125,842
Other Banks & Diversified Financials - 14.4%
Akbank T.A.S.		717,770	$	2,832,887
Banco De Oro Unibank, Inc. (a)		260,770		378,372
Banco Santander Chile, ADR		18,460		1,371,393
Banco Santander S.A., IEU		521,400		4,007,015
Bancolombia S.A., ADR		23,710		1,362,377
Bangkok Bank Public Co. Ltd.		1,347,800		8,301,433
Bank Negara Indonesia PT		14,570,500		5,692,198
Bank Polska Kasa Opieki S.A.		89,930		4,086,371
China Construction Bank		15,617,490		10,300,045
Chinatrust Financial Holding Co. Ltd.		7,679,602		4,610,225
CIMB Group Holdings Berhad		1,200,500		2,988,569
Credicorp Ltd.		44,600		5,375,638
Grupo Financiero Banorte S.A. de C.V.		628,200		3,200,519
Hana Financial Group, Inc.		228,040		6,856,299
Housing Development Finance Corp. Ltd.		333,632		4,413,887
ICICI Bank Ltd.		500,496		8,128,200
Itau Unibanco Holding S.A., ADR		146,141		2,310,489
Komercni Banka A.S.		35,674		6,920,963
Sberbank of Russia (a)		2,441,020		7,093,604
Turkiye Garanti Bankasi A.S.		1,181,474		5,065,687

			$	95,296,171
Pharmaceuticals - 0.5%
Genomma Lab Internacional S.A., “B” (a)		1,555,100	$	3,123,438

Precious Metals & Minerals - 0.5%
Gold Fields Ltd.		273,997	$	3,294,290

Real Estate - 1.9%
Asian Property Development PLC		10,890,200	$	2,693,443
Brasil Brokers Participacoes		1,113,600		3,631,722
Hang Lung Properties Ltd.		1,891,000		6,482,180

			$	12,807,345
Restaurants - 0.4%
Ajisen China Holdings Ltd.		3,918,000	$	2,413,466

Specialty Chemicals - 1.2%
Chugoku Marine Paints Ltd.		611,000	$	2,918,650
Formosa Plastics Corp.		1,057,000		2,854,501
Mexichem S.A.B de C.V.		468,100		2,088,827

			$	7,861,978
Specialty Stores - 0.9%
M.Video		480,900	$	4,250,622
PT Mitra Adiperkasa Tbk		2,632,000		1,821,835

			$	6,072,457

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Common Stocks - continued
Telecommunications - Wireless - 4.7%
America Movil S.A.B. de C.V., “L”, ADR		374,710	$	9,588,829
China Mobile Ltd.		361,000		3,861,823
Mobile TeleSystems OJSC, ADR		192,035		3,535,364
MTN Group Ltd.		462,469		8,640,680
TIM Participacoes S.A., ADR		84,169		1,642,137
Turkcell Iletisim Hizmetleri A.S. (a)		676,840		4,018,179

			$	31,287,012
Telephone Services - 3.3%
China Unicom (Hong Kong) Ltd.		7,056,000	$	11,228,074
Empresa Nacional de Telecomunicaciones S.A.		69,898		1,346,235
PT XL Axiata Tbk		11,784,500		8,898,626

			$	21,472,935
Utilities - Electric Power - 1.9%
Aguas Andinas S.A.		4,406,495	$	2,890,137
Companhia Energetica de Minas Gerais, IPS		119,150		2,033,867
Energias do Brasil S.A.		470,200		3,004,332
Enersis S.A., ADR		116,270		1,914,967
Terna Participacoes S.A., IEU		80,280		2,906,833

			$	12,750,136
Total Common Stocks			$	647,228,041

Money Market Funds - 1.5%
MFS Institutional Money Market Portfolio, 0.16%, at Net Asset Value (v)		9,700,498	$	9,700,498
Total Investments			$	656,928,539

Other Assets, Less Liabilities - 0.6%				3,884,959
Net Assets - 100.0%			$	660,813,498

(a)	Non-income producing security.

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

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


ADR		American Depositary Receipt
GDR		Global Depositary Receipt
IEU		International Equity Unit
IPS		International Preference Stock
PLC		Public Limited Company

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

Supplemental Information

8/31/12 (unaudited)

(1) Investment Valuations

Various inputs are used in determining the value of the fund’s assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes unobservable inputs, which may include the adviser’s own assumptions in determining the fair value of investments. The following is a summary of the levels used as of August 31, 2012 in valuing the fund’s assets or liabilities:


Investments at Value	Level 1		Level 2		Level 3		Total
Equity Securities:
Brazil		$105,288,293		$7		$—		$105,288,300
China		8,773,826		64,674,329		—		73,448,155
South Korea		—		68,200,741		—		68,200,741
Taiwan		—		59,043,846		—		59,043,846
India		29,486,512		26,896,180		—		56,382,692
South Africa		45,998,642		—		—		45,998,642
Russia		40,138,728		4,250,622		—		44,389,350
Hong Kong		11,793,374		29,014,096		—		40,807,470
Mexico		37,878,340		—		—		37,878,340
Other Countries		81,633,935		34,156,570		—		115,790,505
Mutual Funds		9,700,498		—		—		9,700,498
Total Investments		$370,692,148		$286,236,391		$—		$656,928,539

For further information regarding security characteristics, see the Portfolio of Investments.

Supplemental Information (unaudited) – continued

Of the level 2 investments presented above, equity investments amounting to $103,917,470 would have been considered level 1 investments at the beginning of the period. Of the level 1 investments presented above, equity investments amounting to $111,808,842 would have been considered level 2 investments at the beginning of the period. The primary reason for changes in the classifications between levels 1 and 2 occurs when foreign equity securities are fair valued using other observable market-based inputs in place of the closing exchange price due to events occurring after the close of the exchange or market on which the investment is principally traded. The fund’s foreign equity securities may often be valued at fair value. The fund’s policy is to recognize transfers between the levels as of the end of the period.

(2) Portfolio Securities

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


Aggregate cost	$615,570,974
Gross unrealized appreciation	$102,147,098
Gross unrealized depreciation	(60,789,533	)
Net unrealized appreciation (depreciation)	$41,357,565

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

(3) Transactions in Underlying Affiliated Funds – Affiliated Issuers


Underlying Affiliated Fund	Beginning Shares/Par Amount		Acquisitions Shares/Par Amount		Dispositions Shares/Par Amount			Ending Shares/Par Amount
MFS Institutional Money Market Portfolio		6,230,951		34,742,855		(31,273,308	)		9,700,498

Underlying Affiliated Fund	Realized Gain (Loss)		Capital Gain Distributions		Dividend Income			Ending Value
MFS Institutional Money Market Portfolio		$—		$—		$3,484			$9,700,498

(4) Issuer Country Weightings

Issuer country weighting percentages of portfolio holdings based on net assets, as of August 31, 2012, are as follows:


Brazil			15.9%
China			11.1%
South Korea			10.3%
Taiwan			8.9%
India			8.5%
South Africa			7.0%
Russia			6.7%
Hong Kong			6.2%
Mexico			5.7%
Other Countries			19.7%

QUARTERLY REPORT

August 31, 2012

LOGO

MFS® GROWTH ALLOCATION FUND

LOGO

PORTFOLIO OF INVESTMENTS

8/31/12 (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 ($)

Underlying Affiliated Funds - 100.0%
MFS Absolute Return Fund - Class I		3,147,668	$	30,532,381
MFS Commodity Strategy Fund - Class I (v)		12,379,481		124,166,195
MFS Emerging Markets Debt Fund - Class R5		5,791,487		92,026,728
MFS Emerging Markets Equity Fund - Class R5		991,672		30,434,428
MFS Global Bond Fund - Class I		11,609,101		122,359,920
MFS Global Real Estate Fund - Class R5 (v)		6,448,802		91,701,970
MFS Growth Fund - Class R5 (a)		6,835,871		337,760,393
MFS High Income Fund - Class R5		43,486,909		153,508,789
MFS Inflation-Adjusted Bond Fund - Class I		13,332,014		152,918,201
MFS International Growth Fund - Class R5		6,582,493		152,845,479
MFS International New Discovery Fund - Class R5		2,669,619		61,427,937
MFS International Value Fund - Class R5		5,833,141		153,061,613
MFS Mid Cap Growth Fund - Class I (a)		27,992,246		276,283,466
MFS Mid Cap Value Fund - Class I		19,082,064		275,544,998
MFS New Discovery Fund - Class R5		2,892,260		62,125,752
MFS New Discovery Value Fund - Class R5		6,032,612		61,110,355
MFS Research Bond Fund - Class R5		8,317,906		91,912,863
MFS Research Fund - Class R5		8,755,018		244,702,741
MFS Research International Fund - Class R5		15,093,322		214,325,179
MFS Value Fund - Class R5		13,500,336		336,158,365
Total Underlying Affiliated Funds			$	3,064,907,753

Money Market Funds - 0.0%
MFS Institutional Money Market Portfolio, 0.16%, at Net Asset Value (v)		15	$	15
Total Investments			$	3,064,907,768

Other Assets, Less Liabilities - 0.0%				758,191
Net Assets - 100.0%			$	3,065,665,959

(a)	Non-income producing security.

(v)	Underlying affiliated fund 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.

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

Supplemental Information

8/31/12 (unaudited)

(1) Investment Valuations

Equity securities, including restricted equity securities, are generally valued at the last sale or official closing price as provided by a third-party pricing service on the market or exchange on which they are primarily traded. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation as provided by a third-party pricing service on the market or exchange on which such securities are primarily traded. Equity securities held short, for which there were no sales reported for that day, are generally valued at the last quoted daily ask quotation as provided by a third-party pricing service on the market or exchange on which such securities are primarily traded. Debt instruments and floating rate loans (other than short-term instruments), 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 generally are valued at amortized cost, which approximates market value. Exchange-traded options are generally valued at the last sale or official closing price as provided by a third-party pricing service on the exchange on which such options are primarily traded. Exchange-traded options for which there were no sales reported that day are generally valued at the last daily bid quotation as provided by a third-party pricing service on the exchange on which such options are primarily traded. 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 as provided by a third-party pricing service on the market on which they are primarily traded. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation as provided by a third-party pricing service on the market on which such futures contracts are primarily traded. 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 at valuations provided by a third-party pricing service. Open-end investment companies are generally valued at net asset value per share. Securities and other assets, including commodity-linked structured notes, generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. Values obtained from third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.


Investments at Value	Level 1		Level 2		Level 3		Total
Mutual Funds		$3,064,907,768		$—		$—		$3,064,907,768

For further information regarding security characteristics, see the Portfolio of Investments.

Supplemental Information (unaudited) – continued

(2) Portfolio Securities

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


Aggregate cost	$2,512,312,520
Gross unrealized appreciation	$553,587,160
Gross unrealized depreciation	(991,912	)
Net unrealized appreciation (depreciation)	$552,595,248

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

(3) Transactions in Underlying Affiliated Funds – Affiliated Issuers


Underlying Affiliated Funds	Beginning Shares/Par Amount		Acquisitions Shares/Par Amount		Dispositions Shares/Par Amount			Ending Shares/Par Amount
MFS Absolute Return Fund		3,089,597		200,316		(142,245	)		3,147,668
MFS Commodity Strategy Fund		12,797,010		269,899		(687,428	)		12,379,481
MFS Emerging Markets Debt Fund		5,924,698		204,011		(337,222	)		5,791,487
MFS Emerging Markets Equity Fund		949,405		45,679		(3,412	)		991,672
MFS Global Bond Fund		11,504,338		658,311		(553,548	)		11,609,101
MFS Global Real Estate Fund		6,656,942		80,812		(288,952	)		6,448,802
MFS Growth Fund		6,728,684		142,220		(35,033	)		6,835,871
MFS High Income Fund		43,323,307		2,476,970		(2,313,368	)		43,486,909
MFS Inflation-Adjusted Bond Fund		13,331,220		897,969		(897,175	)		13,332,014
MFS Institutional Money Market Portfolio		37		10,784,286		(10,784,308	)		15
MFS International Growth Fund		5,824,016		6,648,336		(5,889,859	)		6,582,493
MFS International New Discovery Fund		2,653,646		45,969		(29,996	)		2,669,619
MFS International Value Fund		5,663,542		5,959,702		(5,790,103	)		5,833,141
MFS Mid Cap Growth Fund		27,057,806		1,002,229		(67,789	)		27,992,246
MFS Mid Cap Value Fund		18,850,182		335,393		(103,511	)		19,082,064
MFS New Discovery Fund		2,858,004		85,547		(51,291	)		2,892,260
MFS New Discovery Value Fund		5,911,389		213,963		(92,740	)		6,032,612
MFS Research Bond Fund		8,310,231		525,316		(517,641	)		8,317,906
MFS Research Fund		8,608,321		8,864,458		(8,717,761	)		8,755,018
MFS Research International Fund		14,439,195		15,317,062		(14,662,935	)		15,093,322
MFS Value Fund		13,335,209		247,317		(82,190	)		13,500,336

Supplemental Information (unaudited) – continued


Underlying Affiliated Funds	Realized Gain (Loss)			Capital Gain Distributions		Dividend Income		Ending Value
MFS Absolute Return Fund		$(15,771	)		$—		$118,537		$30,532,381
MFS Commodity Strategy Fund		181,041			—		—		124,166,195
MFS Emerging Markets Debt Fund		1,288,763			—		1,126,514		92,026,728
MFS Emerging Markets Equity Fund		51,808			—		—		30,434,428
MFS Global Bond Fund		202,145			—		714,196		122,359,920
MFS Global Real Estate Fund		974,730			—		—		91,701,970
MFS Growth Fund		901,883			—		—		337,760,393
MFS High Income Fund		2,701,462			—		2,572,931		153,508,789
MFS Inflation-Adjusted Bond Fund		1,877,403			—		795,688		152,918,201
MFS Institutional Money Market Portfolio		—			—		66		15
MFS International Growth Fund		426,059			—		—		152,845,479
MFS International New Discovery Fund		328,553			—		—		61,427,937
MFS International Value Fund		1,210,745			—		—		153,061,613
MFS Mid Cap Growth Fund		368,474			—		—		276,283,466
MFS Mid Cap Value Fund		810,711			—		—		275,544,998
MFS New Discovery Fund		545,386			—		—		62,125,752
MFS New Discovery Value Fund		171,852			—		—		61,110,355
MFS Research Bond Fund		1,158,932			—		795,547		91,912,863
MFS Research Fund		1,331,001			—		—		244,702,741
MFS Research International Fund		964,427			—		—		214,325,179
MFS Value Fund		1,534,889			—		1,759,489		336,158,365

		$17,014,493			$—		$7,882,968		$3,064,907,768

QUARTERLY REPORT

August 31, 2012

LOGO

MFS® INTERNATIONAL DIVERSIFICATION FUND

LOGO

PORTFOLIO OF INVESTMENTS

8/31/12 (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 ($)

Underlying Affiliated Funds - 99.9%
MFS Emerging Markets Equity Fund - Class R5		8,711,474	$	267,355,137
MFS International Growth Fund - Class R5		28,822,477		669,257,924
MFS International New Discovery Fund - Class R5		11,676,263		268,670,807
MFS International Value Fund - Class R5		25,513,554		669,475,653
MFS Research International Fund - Class R5		56,535,461		802,803,544
Total Underlying Affiliated Funds			$	2,677,563,065

Money Market Funds - 0.0%
MFS Institutional Money Market Portfolio, 0.16%, at Net Asset Value (v)		430,972	$	430,972
Total Investments			$	2,677,994,037

Other Assets, Less Liabilities - 0.1%				1,683,115
Net Assets - 100.0%			$	2,679,677,152

(v)	Underlying affiliated fund 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.

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

Supplemental Information

8/31/12 (unaudited)

(1) Investment Valuations


Investments at Value	Level 1		Level 2		Level 3		Total
Mutual Funds		$2,677,994,037		$—		$—		$2,677,994,037

Portfolio of Investments (unaudited) – continued

For further information regarding security characteristics, see the Portfolio of Investments.

(2) Portfolio Securities

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


Aggregate cost	$2,758,527,527
Gross unrealized appreciation	$114,574,290
Gross unrealized depreciation	(195,107,780	)
Net unrealized appreciation (depreciation)	$(80,533,490	)

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

(3) Transactions in Underlying Affiliated Funds – Affiliated Issuers


Underlying Affiliated Funds	Beginning Shares/Par Amount		Acquisitions Shares/Par Amount		Dispositions Shares/Par Amount			Ending Shares/Par Amount
MFS Emerging Markets Equity Fund		8,383,139		8,826,815		(8,498,480	)		8,711,474
MFS Institutional Money Market Portfolio		6,500,465		26,976,791		(33,046,284	)		430,972
MFS International Growth Fund		25,495,210		29,138,074		(25,810,807	)		28,822,477
MFS International New Discovery Fund		11,620,235		11,804,418		(11,748,390	)		11,676,263
MFS International Value Fund		24,840,535		25,942,639		(25,269,620	)		25,513,554
MFS Research International Fund		54,453,638		57,228,128		(55,146,305	)		56,535,461

Underlying Affiliated Funds	Realized Gain (Loss)		Capital Gain Distributions		Dividend Income			Ending Value
MFS Emerging Markets Equity Fund		$653,316		$—		$—			$267,355,137
MFS Institutional Money Market Portfolio		—		—		495			430,972
MFS International Growth Fund		930,526		—		—			669,257,924
MFS International New Discovery Fund		950,512		—		—			268,670,807
MFS International Value Fund		2,774,692		—		—			669,475,653
MFS Research International Fund		1,711,461		—		—			802,803,544

		$7,020,507		$—		$495			$2,677,994,037

QUARTERLY REPORT

August 31, 2012

LOGO

MFS® INTERNATIONAL GROWTH FUND

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PORTFOLIO OF INVESTMENTS

8/31/12 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.


Issuer	Shares/Par		Value ($)

Common Stocks - 98.5%
Aerospace - 0.8%
Rolls-Royce Holdings PLC		1,428,285	$	18,619,489

Airlines - 1.1%
Copa Holdings S.A., “A”		319,120	$	24,773,285

Alcoholic Beverages - 6.7%
Carlsberg A.S., “B”		276,978	$	23,984,826
Diageo PLC		1,916,518		52,494,252
Heineken N.V. (l)		646,967		35,866,253
Pernod Ricard S.A.		348,957		37,602,113

			$	149,947,444
Apparel Manufacturers - 5.4%
Cia.Hering S.A.		425,900	$	9,305,219
Compagnie Financiere Richemont S.A.		363,126		22,269,852
Li & Fung Ltd.		19,356,400		31,583,789
LVMH Moet Hennessy Louis Vuitton S.A.		357,175		58,313,259

			$	121,472,119
Automotive - 2.8%
Bayerische Motoren Werke AG		349,987	$	25,382,718
Guangzhou Automobile Group Co. Ltd., “H”		9,180,000		6,425,452
Honda Motor Co. Ltd.		973,800		31,026,888

			$	62,835,058
Broadcasting - 1.0%
Publicis Groupe S.A.		413,064	$	21,439,308

Brokerage & Asset Managers - 1.2%
Aberdeen Asset Management PLC		3,169,321	$	14,025,326
BM&F Bovespa S.A.		2,517,400		13,331,716

			$	27,357,042
Business Services - 7.9%
Accenture PLC, “A”		407,680	$	25,113,088
Amadeus IT Holding S.A.		772,090		17,247,353
Brenntag AG		184,947		22,041,344
Capita Group PLC		1,842,826		21,126,681
Compass Group PLC		4,328,450		48,729,101
Experian Group Ltd.		1,102,447		17,575,237
Intertek Group PLC		360,483		16,112,872
LPS Brasil - Consultoria de Imoveis S.A.		447,100		7,797,103

			$	175,742,779
Computer Software - 4.5%
Check Point Software Technologies Ltd. (a)		724,320	$	33,383,909
Dassault Systems S.A.		214,045		20,786,923
OBIC Co. Ltd.		93,040		19,617,844
SAP AG		417,593		27,528,271

			$	101,316,947
Computer Software - Systems - 0.8%
NICE Systems Ltd., ADR (a)		556,700	$	17,413,576

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Common Stocks - continued
Construction - 0.5%
Bellway PLC		790,266	$	10,904,427

Consumer Products - 3.4%
Reckitt Benckiser Group PLC		700,825	$	39,615,883
Uni-Charm Corp.		632,400		36,791,392

			$	76,407,275
Electrical Equipment - 2.6%
Legrand S.A.		469,533	$	16,226,146
Mettler-Toledo International, Inc. (a)		111,460		18,403,161
Schneider Electric S.A.		369,328		23,324,590

			$	57,953,897
Electronics - 3.8%
ASML Holding N.V.		246,480	$	13,992,670
Infineon Technologies AG		1,649,885		11,403,363
Samsung Electronics Co. Ltd.		22,962		25,080,900
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		2,286,445		33,610,742

			$	84,087,675
Energy - Independent - 0.9%
INPEX Corp.		3,404	$	19,456,376

Energy - Integrated - 3.2%
BG Group PLC		1,985,821	$	40,613,061
OAO Gazprom, ADR		1,795,790		17,356,310
Suncor Energy, Inc.		444,969		13,907,679

			$	71,877,050
Engineering - Construction - 1.3%
JGC Corp.		903,400	$	27,955,065

Food & Beverages - 5.0%
Groupe Danone		977,663	$	60,931,856
Nestle S.A.		807,313		50,187,521

			$	111,119,377
Food & Drug Stores - 3.0%
CP All PLC		10,110,800	$	11,132,044
Dairy Farm International Holdings Ltd.		929,100		10,034,280
Lawson, Inc.		483,400		37,044,511
Sundrug Co. Ltd.		242,200		8,806,992

			$	67,017,827
Gaming & Lodging - 0.6%
Sands China Ltd.		3,614,400	$	12,768,850

General Merchandise - 0.6%
Lojas Renner S.A.		422,300	$	13,922,024

Insurance - 1.3%
AIA Group Ltd.		8,323,400	$	28,681,966

Internet - 0.9%
Yahoo Japan Corp.		56,148	$	19,398,106

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Common Stocks - continued
Machinery & Tools - 2.4%
KONE Oyj “B”		252,879	$	15,474,163
Schindler Holding AG		175,167		20,641,340
Weir Group PLC		636,830		16,512,752

			$	52,628,255
Major Banks - 2.4%
HSBC Holdings PLC		3,067,928	$	26,651,499
Standard Chartered PLC		1,239,475		27,386,135

			$	54,037,634
Medical & Health Technology & Services - 1.5%
Diagnosticos da America S.A.		1,127,400	$	7,114,633
Fleury S.A.		592,900		6,440,438
Fresenius Medical Care AG & Co. KGaA		262,303		18,914,583

			$	32,469,654
Medical Equipment - 2.3%
Essilor International S.A.		248,321	$	21,673,143
Sonova Holding AG		321,751		29,826,085

			$	51,499,228
Metals & Mining - 1.7%
Iluka Resources Ltd.		1,222,084	$	11,615,880
Rio Tinto Ltd.		510,605		26,167,423

			$	37,783,303
Network & Telecom - 0.7%
Ericsson, Inc., “B”		1,702,693	$	15,941,374

Oil Services - 1.6%
Saipem S.p.A.		465,911	$	22,122,362
Technip		135,930		14,317,258

			$	36,439,620
Other Banks & Diversified Financials - 5.6%
Banco Santander Chile, ADR		190,230	$	14,132,187
Bank Rakyat Indonesia		16,942,000		12,379,404
Credicorp Ltd.		189,790		22,875,389
HDFC Bank Ltd.		1,755,154		18,801,130
Itau Unibanco Holding S.A., ADR		1,701,020		26,893,126
Julius Baer Group Ltd.		480,152		15,777,069
Siam Commercial Bank Co. Ltd.		3,132,800		14,996,649

			$	125,854,954
Pharmaceuticals - 4.6%
Bayer AG		258,075	$	20,018,496
Novo Nordisk A/S, “B”		176,773		27,840,147
Roche Holding AG		180,175		32,800,267
Santen Pharmaceutical Co. Ltd.		489,800		21,389,285

			$	102,048,195
Precious Metals & Minerals - 1.1%
Goldcorp, Inc.		277,300	$	11,384,561
Newcrest Mining Ltd.		523,028		13,355,671

			$	24,740,232

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Common Stocks - continued
Railroad & Shipping - 2.5%
Canadian National Railway Co.		471,510	$	43,162,025
Kuehne & Nagel, Inc. AG		103,720		11,809,326

			$	54,971,351
Real Estate - 0.2%
Brasil Brokers Participacoes		1,695,200	$	5,528,462

Specialty Chemicals - 5.7%
Akzo Nobel N.V.		319,605	$	18,419,601
Croda International PLC		257,742		9,642,069
L’Air Liquide S.A.		194,783		22,919,567
Linde AG		267,319		42,113,286
Shin-Etsu Chemical Co. Ltd.		209,800		11,276,829
Symrise AG		673,385		22,796,564

			$	127,167,916
Specialty Stores - 1.4%
Industria de Diseno Textil S.A.		275,942	$	30,685,328

Telecommunications - Wireless - 1.4%
MTN Group Ltd.		717,229	$	13,400,566
TIM Participacoes S.A., ADR		927,480		18,095,135

			$	31,495,701
Telephone Services - 1.2%
China Unicom (Hong Kong) Ltd.		17,452,000	$	27,771,025

Tobacco - 2.9%
Japan Tobacco, Inc.		2,112,200	$	63,693,776
Total Common Stocks			$	2,197,222,970

Money Market Funds - 1.0%
MFS Institutional Money Market Portfolio, 0.16%, at Net Asset Value (v)		21,463,293	$	21,463,293

Collateral for Securities Loaned - 0.5%
Navigator Securities Lending Prime Portfolio, 0.27%, at Net Asset Value (j)		10,004,820	$	10,004,820
Total Investments			$	2,228,691,083

Other Assets, Less Liabilities - 0.0%				1,113,871
Net Assets - 100.0%			$	2,229,804,954

(a)	Non-income producing security.

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

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

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

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


ADR		American Depositary Receipt
PLC		Public Limited Company

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

Supplemental Information

8/31/12 (unaudited)

(1) Investment Valuations


Investments at Value	Level 1		Level 2		Level 3		Total
Equity Securities:
United Kingdom		$360,008,783		$—		$—		$360,008,783
France		297,534,163		—		—		297,534,163
Japan		146,336,671		150,120,393		—		296,457,064
Germany		190,198,625		—		—		190,198,625
Switzerland		183,311,460		—		—		183,311,460
Brazil		108,427,856		—		—		108,427,856
Hong Kong		22,803,130		60,265,755		—		83,068,885
Canada		68,454,267		—		—		68,454,267
Netherlands		68,278,524		—		—		68,278,524
Other Countries		385,373,646		156,109,697		—		541,483,343
Mutual Funds		31,468,113		—		—		31,468,113
Total Investments		$1,862,195,238		$366,495,845		$—		$2,228,691,083

For further information regarding security characteristics, see the Portfolio of Investments.

Supplemental Information (unaudited) – continued

Of the level 2 investments presented above, equity investments amounting to $113,497,876 would have been considered level 1 investments at the beginning of the period. Of the level 1 investments presented above, equity investments amounting to $867,277,214 would have been considered level 2 investments at the beginning of the period. The primary reason for changes in the classifications between levels 1 and 2 occurs when foreign equity securities are fair valued using other observable market-based inputs in place of the closing exchange price due to events occurring after the close of the exchange or market on which the investment is principally traded. The fund’s foreign equity securities may often be valued at fair value. The fund’s policy is to recognize transfers between the levels as of the end of the period.

(2) Portfolio Securities

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


Aggregate cost	$2,050,339,731
Gross unrealized appreciation	$263,953,991
Gross unrealized depreciation	(85,602,639	)
Net unrealized appreciation (depreciation)	$178,351,352

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

(3) Transactions in Underlying Affiliated Funds – Affiliated Issuers


Underlying Affiliated Fund	Beginning Shares/Par Amount		Acquisitions Shares/Par Amount		Dispositions Shares/Par Amount			Ending Shares/Par Amount
MFS Institutional Money Market Portfolio		22,463,466		102,344,888		(103,345,061	)		21,463,293

Underlying Affiliated Fund	Realized Gain (Loss)		Capital Gain Distributions		Dividend Income			Ending Value
MFS Institutional Money Market Portfolio		$—		$—		$7,495			$21,463,293

(4) Issuer Country Weightings

Issuer country weighting percentages of portfolio holdings based on net assets, as of August 31, 2012, are as follows:


United Kingdom			16.1%
France			13.3%
Japan			13.3%
Germany			8.5%
Switzerland			8.2%
Brazil			4.9%
Hong Kong			3.7%
United States			3.4%
Canada			3.1%
Other Countries			25.5%

QUARTERLY REPORT

August 31, 2012

LOGO

MFS® INTERNATIONAL VALUE FUND

LOGO

PORTFOLIO OF INVESTMENTS

8/31/12 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.


Issuer	Shares/Par		Value ($)

Common Stocks - 95.1%
Aerospace - 1.1%
Cobham PLC		19,010,541	$	66,197,694

Alcoholic Beverages - 2.9%
Heineken N.V. (l)		3,270,494	$	181,308,116

Automotive - 0.7%
USS Co. Ltd.		425,160	$	45,727,938

Broadcasting - 1.6%
Fuji Television Network, Inc.		33,517	$	52,337,613
Nippon Television Network Corp.		339,850		47,042,571

			$	99,380,184
Brokerage & Asset Managers - 1.4%
Computershare Ltd.		3,945,048	$	34,341,556
Daiwa Securities Group, Inc.		14,944,000		54,359,579

			$	88,701,135
Business Services - 6.2%
Amadeus IT Holding S.A.		3,916,761	$	87,494,670
Brenntag AG		334,630		39,880,047
Bunzl PLC		5,141,221		91,757,662
Compass Group PLC		9,626,096		108,369,278
Nomura Research, Inc.		2,821,800		59,074,430

			$	386,576,087
Chemicals - 1.1%
Givaudan S.A.		70,685	$	66,709,108

Computer Software - 0.7%
OBIC Co. Ltd.		208,610	$	43,986,226

Computer Software - Systems - 2.0%
Asustek Computer, Inc.		2,684,220	$	26,967,107
Konica Minolta Holdings, Inc.		5,326,400		39,712,021
Nintendo Co. Ltd.		297,900		33,503,489
Venture Corp. Ltd.		3,536,500		22,016,237

			$	122,198,854
Construction - 0.7%
Geberit AG		212,775	$	44,863,944

Consumer Products - 7.2%
Henkel KGaA, IPS		1,679,965	$	126,973,767
Kao Corp.		5,482,400		165,838,247
KOSE Corp.		1,061,000		24,710,377
Reckitt Benckiser Group PLC		2,286,986		129,277,594

			$	446,799,985
Containers - 0.4%
Brambles Ltd.		3,300,641	$	23,283,812

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Common Stocks - continued
Electrical Equipment - 1.7%
Legrand S.A.		2,083,742	$	72,010,067
Spectris PLC		1,297,901		35,632,502

			$	107,642,569
Electronics - 3.3%
ASM International N.V.		598,447	$	21,076,345
Halma PLC		6,414,105		41,400,575
Hirose Electric Co. Ltd.		301,600		31,375,812
Samsung Electronics Co. Ltd.		29,385		32,096,604
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		5,511,432		81,018,050

			$	206,967,386
Energy - Independent - 0.7%
Cairn Energy PLC		9,406,768	$	42,867,888

Energy - Integrated - 5.4%
BP PLC		21,006,166	$	147,210,803
Royal Dutch Shell PLC, “A”		5,265,976		184,289,343

			$	331,500,146
Food & Beverages - 5.7%
Groupe Danone		2,919,416	$	181,949,644
ITO EN Ltd.		792,300		15,788,473
Nestle S.A.		2,541,648		158,004,408

			$	355,742,525
Food & Drug Stores - 1.6%
Lawson, Inc.		1,269,000	$	97,247,589

Insurance - 6.4%
Amlin PLC		3,469,402	$	21,242,293
Catlin Group Ltd.		3,537,624		25,760,570
Delta Lloyd N.V.		1,427,570		19,670,770
Euler Hermes		246,691		15,281,680
Hiscox Ltd.		6,148,990		45,371,821
ING Groep N.V. (a)		6,969,987		53,319,977
Jardine Lloyd Thompson Group PLC		2,743,014		33,450,222
Swiss Re Ltd.		1,561,475		97,888,634
Zurich Insurance Group AG		338,345		81,334,637

			$	393,320,604
Leisure & Toys - 0.3%
Sankyo Co. Ltd.		429,000	$	19,854,214

Machinery & Tools - 1.7%
Glory Ltd.		1,122,800	$	25,149,005
Neopost S.A.		986,519		52,686,216
Schindler Holding AG		216,554		25,518,304

			$	103,353,525
Major Banks - 3.3%
HSBC Holdings PLC		16,966,475	$	147,390,025
Sumitomo Mitsui Financial Group, Inc.		1,808,900		56,241,141

			$	203,631,166

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Common Stocks - continued
Medical & Health Technology & Services - 0.8%
Kobayashi Pharmaceutical Co. Ltd.		962,700	$	51,457,941

Medical Equipment - 0.5%
Nihon Kohden Corp.		876,100	$	29,697,546

Network & Telecom - 2.2%
Ericsson, Inc., “B”		11,764,391	$	110,143,493
Nokia Oyj		8,284,641		23,550,151

			$	133,693,644
Other Banks & Diversified Financials - 4.1%
Anglo Irish Bank Corp. PLC (a)		851,990	$	0
Chiba Bank Ltd.		3,824,000		22,213,991
DnB NOR A.S.A.		5,682,821		65,306,820
Hachijuni Bank Ltd.		3,753,000		20,686,605
Joyo Bank Ltd.		5,396,000		25,995,394
Julius Baer Group Ltd.		839,198		27,574,779
Jyske Bank A.S. (a)		382,816		10,953,016
Sapporo Hokuyo Holdings, Inc.		4,985,300		12,814,797
Sydbank A.S. (a)		623,818		10,624,855
UniCredit S.p.A. (a)		12,574,277		49,788,531
Unione di Banche Italiane S.c.p.A.		2,048,460		6,874,243

			$	252,833,031
Pharmaceuticals - 9.3%
Bayer AG		1,575,446	$	122,205,017
GlaxoSmithKline PLC		7,019,864		158,837,601
Hisamitsu Pharmaceutical Co., Inc.		497,700		26,584,190
Roche Holding AG		831,299		151,335,253
Sanofi		751,736		61,506,953
Santen Pharmaceutical Co. Ltd.		1,191,500		52,032,122

			$	572,501,136
Printing & Publishing - 1.5%
Pearson PLC		3,628,380	$	68,847,857
United Business Media Ltd.		1,990,674		21,304,424

			$	90,152,281
Real Estate - 2.3%
Deutsche Wohnen AG		3,963,338	$	67,049,410
GSW Immobilien AG		1,451,914		51,754,999
TAG Immobilien AG		2,257,175		21,517,346

			$	140,321,755
Specialty Chemicals - 1.7%
Shin-Etsu Chemical Co. Ltd.		1,124,145	$	60,423,218
Symrise AG		1,370,868		46,408,934

			$	106,832,152
Specialty Stores - 0.4%
Esprit Holdings Ltd.		17,452,881	$	26,862,482

Telecommunications - Wireless - 7.8%
KDDI Corp.		31,313	$	224,391,561
NTT DoCoMo, Inc.		51,284		87,437,169
Vodafone Group PLC		58,247,857		167,867,390

			$	479,696,120

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Common Stocks - continued
Telephone Services - 1.9%
China Unicom (Hong Kong) Ltd.		11,986,000	$	19,073,087
Royal KPN N.V.		2,393,361		20,530,719
TDC A.S.		5,146,985		34,274,716
Telecom Italia S.p.A.		55,420,146		43,880,843

			$	117,759,365
Tobacco - 5.0%
British American Tobacco PLC		3,090,932	$	162,035,625
Japan Tobacco, Inc.		4,959,900		149,566,689

			$	311,602,314
Trucking - 1.5%
Yamato Holdings Co. Ltd.		5,626,600	$	93,659,602
Total Common Stocks			$	5,884,930,064
Issuer/Expiration Date/Strike Price	Par Amount of Contracts
Put Options Purchased - 0.0%
JPY Currency - January 2013 @ $0.0119		JPY 4,893,031,000	$	181,042
JPY Currency - March 2013 @ $0.0110		7,300,480,008		116,808
JPY Currency - July 2013 @ $0.0117		10,108,042,627		1,071,453
Total Put Options Purchased			$	1,369,303

Call Options Purchased - 0.0%
EUR Currency - March 2013 @ JPY 121.25		EUR 158,797,765	$	182,776
EUR Currency - July 2013 @ JPY 104.25		29,329,407		978,840
Total Call Options Purchased			$	1,161,616
Issuer	Shares/Par
Money Market Funds - 5.3%
MFS Institutional Money Market Portfolio, 0.16%, at Net Asset Value (v)		329,596,112	$	329,596,112

Collateral for Securities Loaned - 2.3%
Navigator Securities Lending Prime Portfolio, 0.27%, at Net Asset Value (j)		140,892,326	$	140,892,326
Total Investments			$	6,357,949,421

Other Assets, Less Liabilities - (2.7)%				(167,598,613	)
Net Assets - 100.0%			$	6,190,350,808

(a)	Non-income producing security.

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

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

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

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


ADR		American Depositary Receipt
IPS		International Preference Stock
PLC		Public Limited Company

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:


EUR		Euro
JPY		Japanese Yen

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

Supplemental Information

8/31/12 (unaudited)

(1) Investment Valuations


Investments at Value	Level 1		Level 2		Level 3		Total
Equity Securities:
United Kingdom		$1,699,111,168		$—		$—		$1,699,111,168
Japan		327,969,766		1,340,939,783		—		1,668,909,549
Switzerland		653,229,067		—		—		653,229,067
Germany		475,789,520		—		—		475,789,520
France		383,434,560		—		—		383,434,560
Netherlands		295,905,926		—		—		295,905,926
Sweden		110,143,493		—		—		110,143,493
Taiwan		81,018,050		26,967,107		—		107,985,157
Italy		100,543,618		—		—		100,543,618
Other Countries		254,220,466		135,657,540		0		389,878,006
Purchased Currency Options		—		2,530,919		—		2,530,919
Mutual Funds		470,488,438		—		—		470,488,438
Total Investments		$4,851,854,072		$1,506,095,349		$0		$6,357,949,421

Supplemental Information (unaudited) – continued

For further information regarding security characteristics, see the Portfolio of Investments. At August 31, 2012, the fund held one level 3 security valued at $0, which was also held and valued at $0 at May 31, 2012.

Of the level 2 investments presented above, equity investments amounting to $155,697,683 would have been considered level 1 investments at the beginning of the period. Of the level 1 investments presented above, equity investments amounting to $2,373,382,527 would have been considered level 2 investments at the beginning of the period. The primary reason for changes in the classifications between levels 1 and 2 occurs when foreign equity securities are fair valued using other observable market-based inputs in place of the closing exchange price due to events occurring after the close of the exchange or market on which the investment is principally traded. The fund’s foreign equity securities may often be valued at fair value. The fund’s policy is to recognize transfers between the levels as of the end of the period.

(2) Portfolio Securities

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


Aggregate cost	$5,903,550,311
Gross unrealized appreciation	$680,642,120
Gross unrealized depreciation	(226,243,010	)
Net unrealized appreciation (depreciation)	$454,399,110

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

(3) Transactions in Underlying Affiliated Funds – Affiliated Issuers


Underlying Affiliated Fund	Beginning Shares/Par Amount		Acquisitions Shares/Par Amount		Dispositions Shares/Par Amount			Ending Shares/Par Amount
MFS Institutional Money Market Portfolio		211,440,470		494,488,103		(376,332,461	)		329,596,112

Underlying Affiliated Fund	Realized Gain (Loss)		Capital Gain Distributions		Dividend Income			Ending Value
MFS Institutional Money Market Portfolio		$—		$—		$116,563			$329,596,112

(4) Issuer Country Weightings

Issuer country weighting percentages of portfolio holdings based on net assets, as of August 31, 2012, are as follows:


United Kingdom			27.5%
Japan			27.0%
Switzerland			10.6%
Germany			7.7%
France			6.2%
United States			4.9%
Netherlands			4.8%
Sweden			1.8%
Taiwan			1.7%
Other Countries			7.8%

QUARTERLY REPORT

August 31, 2012

LOGO

MFS® MODERATE ALLOCATION FUND

LOGO

PORTFOLIO OF INVESTMENTS

8/31/12 (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 ($)
Underlying Affiliated Funds - 99.9%
MFS Absolute Return Fund - Class I		3,733,146	$	36,211,515
MFS Commodity Strategy Fund - Class I (v)		10,991,249		110,242,227
MFS Emerging Markets Debt Fund - Class R5		6,853,293		108,898,830
MFS Global Bond Fund - Class I		17,212,016		181,414,645
MFS Global Real Estate Fund - Class R5 (v)		5,096,299		72,469,366
MFS Government Securities Fund - Class R5		34,332,586		362,895,429
MFS Growth Fund - Class R5 (a)		5,878,854		290,474,156
MFS High Income Fund - Class R5		51,529,191		181,898,045
MFS Inflation-Adjusted Bond Fund - Class I		15,806,227		181,297,422
MFS International Growth Fund - Class R5		4,682,814		108,734,945
MFS International New Discovery Fund - Class R5		1,580,119		36,358,543
MFS International Value Fund - Class R5		4,143,346		108,721,393
MFS Mid Cap Growth Fund - Class I (a)		25,806,975		254,714,845
MFS Mid Cap Value Fund - Class I		17,578,975		253,840,398
MFS New Discovery Fund - Class R5		2,562,646		55,045,642
MFS New Discovery Value Fund - Class R5		5,365,635		54,353,885
MFS Research Bond Fund - Class R5		39,439,011		435,801,074
MFS Research Fund - Class R5		10,370,919		289,867,193
MFS Research International Fund - Class R5		15,316,494		217,494,214
MFS Value Fund - Class R5		11,633,977		289,686,038
Total Underlying Affiliated Funds			$	3,630,419,805

Money Market Funds - 0.0%
MFS Institutional Money Market Portfolio, 0.16%, at Net Asset Value (v)		105	$	105
Total Investments			$	3,630,419,910

Other Assets, Less Liabilities - 0.1%				5,245,635
Net Assets - 100.0%			$	3,635,665,545

(a)	Non-income producing security.

(v)	Underlying affiliated fund 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.

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

Supplemental Information

8/31/12 (unaudited)

(1) Investment Valuations

Supplemental Information (unaudited) – continued


Investments at Value	Level 1		Level 2		Level 3		Total
Mutual Funds		$3,630,419,910		$—		$—		$3,630,419,910

For further information regarding security characteristics, see the Portfolio of Investments.

(2) Portfolio Securities

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


Aggregate cost	$3,055,807,711
Gross unrealized appreciation	575,619,959
Gross unrealized depreciation	(1,007,760	)
Net unrealized appreciation (depreciation)	$574,612,199

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

(3) Transactions in Underlying Affiliated Funds – Affiliated Issuers


Underlying Affiliated Funds	Beginning Shares/Par Amount		Acquisitions Shares/Par Amount		Dispositions Shares/Par Amount			Ending Shares/Par Amount
MFS Absolute Return Fund		3,586,715		282,158		(135,727	)		3,733,146
MFS Commodity Strategy Fund		11,258,333		464,551		(731,635	)		10,991,249
MFS Emerging Markets Debt Fund		6,868,071		7,109,089		(7,123,867	)		6,853,293
MFS Global Bond Fund		16,632,485		1,149,868		(570,337	)		17,212,016
MFS Global Real Estate Fund		5,190,603		5,153,226		(5,247,530	)		5,096,299
MFS Government Securities Fund		33,041,114		34,889,336		(33,597,864	)		34,332,586
MFS Growth Fund		5,745,834		6,038,189		(5,905,169	)		5,878,854
MFS High Income Fund		50,156,966		53,504,768		(52,132,543	)		51,529,191
MFS Inflation-Adjusted Bond Fund		15,370,341		1,125,268		(689,382	)		15,806,227
MFS Institutional Money Market Portfolio		47,971		17,252,723		(17,300,589	)		105
MFS International Growth Fund		4,135,105		4,800,100		(4,252,391	)		4,682,814
MFS International New Discovery Fund		1,566,760		1,632,328		(1,618,969	)		1,580,119
MFS International Value Fund		4,004,680		4,286,979		(4,148,313	)		4,143,346
MFS Mid Cap Growth Fund		24,707,231		1,588,000		(488,256	)		25,806,975
MFS Mid Cap Value Fund		17,212,259		721,789		(355,073	)		17,578,975
MFS New Discovery Fund		2,510,033		2,673,390		(2,620,777	)		2,562,646
MFS New Discovery Value Fund		5,207,915		5,471,573		(5,313,853	)		5,365,635
MFS Research Bond Fund		38,409,511		41,030,891		(40,001,391	)		39,439,011
MFS Research Fund		10,103,883		10,646,832		(10,379,796	)		10,370,919
MFS Research International Fund		14,665,120		15,854,275		(15,202,901	)		15,316,494
MFS Value Fund		11,405,770		11,944,910		(11,716,703	)		11,633,977

Supplemental Information (unaudited) – continued


Underlying Affiliated Funds	Realized Gain (Loss)			Capital Gain Distributions		Dividend Income		Ending Value
MFS Absolute Return Fund		$(65,159	)		$—		$140,210		$36,211,515
MFS Commodity Strategy Fund		(2,874,314	)		—		—		110,242,227
MFS Emerging Markets Debt Fund		(42,402	)		—		1,322,867		108,898,830
MFS Global Bond Fund		(355,065	)		—		1,049,665		181,414,645
MFS Global Real Estate Fund		(160,705	)		—		—		72,469,366
MFS Government Securities Fund		(38,841	)		—		2,530,627		362,895,429
MFS Growth Fund		(258,345	)		—		—		290,474,156
MFS High Income Fund		(755,113	)		—		3,024,315		181,898,045
MFS Inflation-Adjusted Bond Fund		56,826			—		931,687		181,297,422
MFS Institutional Money Market Portfolio		—			—		163		105
MFS International Growth Fund		(162,388	)		—		—		108,734,945
MFS International New Discovery Fund		(56,345	)		—		—		36,358,543
MFS International Value Fund		(150,106	)		—		—		108,721,393
MFS Mid Cap Growth Fund		(210,691	)		—		—		254,714,845
MFS Mid Cap Value Fund		(226,133	)		—		—		253,840,398
MFS New Discovery Fund		(123,135	)		—		—		55,045,642
MFS New Discovery Value Fund		(72,079	)		—		—		54,353,885
MFS Research Bond Fund		87,552			—		3,739,198		435,801,074
MFS Research Fund		(230,907	)		—		—		289,867,193
MFS Research International Fund		(908,975	)		—		—		217,494,214
MFS Value Fund		(282,208	)		—		1,520,099		289,686,038

		$(6,828,533	)		$—		$14,258,831		$3,630,419,910

QUARTERLY REPORT

August 31, 2012

LOGO

MFS® GLOBAL BOND FUND

LOGO

PORTFOLIO OF INVESTMENTS

8/31/12 (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 - 87.0%
Asset-Backed & Securitized - 0.7%
Commercial Mortgage Pass-Through Certificates, “A3”, 5.293%, 2049	$	870,221	$	920,216
Commercial Mortgage Pass-Through Certificates, “A4”, 5.306%, 2046		870,221		996,870
JPMorgan Chase Commercial Mortgage Securities Corp., “A3”, FRN, 6.003%, 2049		1,111,221		1,189,140

			$	3,106,226
Building - 0.0%
Odebrecht Finance Ltd., 5.125%, 2022 (n)	$	200,000	$	207,000

Cable TV - 0.5%
DIRECTV Holdings LLC, 5.2%, 2020	$	750,000	$	846,821
Time Warner Cable, Inc., 5%, 2020		1,110,000		1,284,108

			$	2,130,929
Chemicals - 0.2%
Dow Chemical Co., 8.55%, 2019	$	590,000	$	796,440

Emerging Market Quasi-Sovereign - 4.9%
Banco do Brasil S.A., 5.875%, 2022 (n)	$	705,000	$	743,775
Banco do Estado Rio Grande do Sul S.A., 7.375%, 2022 (n)		957,000		1,043,130
CEZ A.S., 4.25%, 2022 (n)		627,000		666,300
CNOOC Finance (2012) Ltd., 3.875%, 2022 (n)		481,000		516,370
CNOOC Finance (2012) Ltd., 5%, 2042 (n)		201,000		233,511
CNPC (HK) Overseas Capital Ltd., 4.5%, 2021 (n)		526,000		585,157
CNPC General Capital Ltd., 3.95%, 2022 (n)		200,000		215,388
Comision Federal de Electricidad, 5.75%, 2042 (n)		770,000		864,325
Corporacion Nacional del Cobre de Chile, 3.75%, 2020 (n)		384,000		410,093
Ecopetrol S.A., 7.625%, 2019		943,000		1,216,470
Empresa Nacional del Petroleo, 5.25%, 2020 (n)		115,000		127,048
Gaz Capital S.A., 5.999%, 2021 (n)		2,177,000		2,468,304
Gaz Capital S.A., 4.95%, 2022 (n)		353,000		370,226
Pertamina PT, 4.875%, 2022 (n)		320,000		341,600
Pertamina PT, 6%, 2042 (n)		376,000		406,080
Petrobras International Finance Co., 5.375%, 2021		1,664,000		1,851,749
Petroleos Mexicanos, 5.5%, 2021		1,075,000		1,247,000
Petroleos Mexicanos, 4.875%, 2022 (n)		455,000		509,600
Petroleos Mexicanos, 6.5%, 2041		828,000		1,022,580
Petroleos Mexicanos, 6.5%, 2041 (n)		101,000		124,735
Petroleos Mexicanos, 5.5%, 2044 (n)		213,000		232,170
Petroleum Co. of Trinidad & Tobago Ltd., 6%, 2022		820,833		861,875
PT Perusahaan Listrik Negara, 5.5%, 2021 (n)		1,127,000		1,228,430
Sberbank of Russia, 6.125%, 2022 (n)		200,000		218,760
Sinopec Group Overseas Development (2012) Ltd., 2.75%, 2017 (z)		2,296,000		2,384,738
Sinopec Group Overseas Development (2012) Ltd., 3.9%, 2022 (n)		342,000		367,363
Transnet SOC Ltd., 4%, 2022 (n)		209,000		212,396
Turkiye Ihracat Kredi Bankasi A.S., 5.375%, 2016		977,000		1,038,063
Turkiye Vakiflar Bankasi T.A.O., 5.75%, 2017 (n)		237,000		250,027

			$	21,757,263
Emerging Market Sovereign - 12.4%
Credit Suisse (Russian Federation, CLN), 7.6%, 2021 (z)	RUB	48,927,000	$	1,509,007
Deutsche Bank AG (Russian Federation, CLN), 7.15%, 2013 (n)	RUB	137,650,000		4,288,089
Government of Poland, 5.75%, 2022	PLN	6,517,000		2,094,139

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Bonds - continued
Emerging Market Sovereign - continued
Republic of Guatemala, 5.75%, 2022 (n)	$	228,000	$	255,588
Republic of Hungary, 6.375%, 2021		122,000		129,930
Republic of Latvia, 5.25%, 2021		804,000		868,320
Republic of Lithuania, 6.625%, 2022 (n)		937,000		1,112,688
Republic of Peru, 6.95%, 2031 (z)	PEN	5,350,000		2,465,732
Republic of Poland, 5%, 2022	$	426,000		489,900
Republic of Romania, 6.75%, 2022		498,000		540,330
Republic of Slovakia, 4.375%, 2022 (n)		1,712,000		1,774,591
Republic of South Africa, 10.5%, 2026	ZAR	29,117,000		4,387,821
Republic of South Africa, 6.25%, 2036	ZAR	22,869,000		2,186,291
Republic of Turkey, 10%, 2013	TRY	3,440,000		1,910,796
Republic of Turkey, 4.5%, 2015	TRY	3,721,809		2,155,302
Republic of Turkey, 9%, 2016	TRY	7,418,000		4,218,294
Republic of Turkey, 9.5%, 2022	TRY	3,561,000		2,123,837
Republic of Turkey, 3%, 2022	TRY	3,740,876		2,118,020
Republic of Turkey, 6.25%, 2022	$	1,119,000		1,353,990
Russian Federation, 5%, 2020		2,200,000		2,508,000
Russian Federation, 4.5%, 2022 (n)		200,000		221,750
Russian Federation, 5.625%, 2042 (n)		1,000,000		1,181,250
United Mexican States, 8%, 2015	MXN	26,140,000		2,167,327
United Mexican States, 7.25%, 2016	MXN	42,080,000		3,475,075
United Mexican States, 7.75%, 2017	MXN	65,000,000		5,543,190
United Mexican States, 3.625%, 2022	$	1,866,000		2,028,342
United Mexican States, 8.5%, 2029	MXN	24,080,000		2,280,695

			$	55,388,294
Energy - Independent - 0.0%
Apache Corp., 4.75%, 2043	$	118,000	$	135,285

Energy - Integrated - 0.3%
Pacific Rubiales Energy Corp., 7.25%, 2021	$	1,289,000	$	1,495,240

Food & Beverages - 0.3%
Anheuser-Busch InBev S.A., 5.375%, 2020	$	800,000	$	977,015
Kraft Foods, Inc., 6.125%, 2018		410,000		498,868

			$	1,475,883
International Market Quasi-Sovereign - 0.3%
Eksportfinans A.S.A., 1.875%, 2013	$	222,000	$	219,780
Temasek Financial I Ltd., 2.375%, 2023 (n)		1,000,000		1,003,932

			$	1,223,712
International Market Sovereign - 50.2%
Federal Republic of Germany, 3.75%, 2013	EUR	11,001,000	$	14,266,698
Federal Republic of Germany, 3.75%, 2015	EUR	10,457,000		14,316,707
Federal Republic of Germany, 4.25%, 2018	EUR	1,446,000		2,200,904
Federal Republic of Germany, 3.25%, 2021	EUR	1,261,000		1,863,270
Federal Republic of Germany, 6.25%, 2030	EUR	1,583,000		3,241,526
Government of Australia, 5.75%, 2021	AUD	4,893,000		6,142,425
Government of Canada, 4.5%, 2015	CAD	6,848,000		7,563,540
Government of Canada, 3.25%, 2021	CAD	2,384,000		2,724,447
Government of Canada, 5.75%, 2033	CAD	1,116,000		1,773,271
Government of Japan, 1.7%, 2017	JPY	915,600,000		12,493,955
Government of Japan, 1.1%, 2020	JPY	1,391,800,000		18,527,534
Government of Japan, 2.1%, 2024	JPY	1,082,750,000		15,481,465

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Bonds - continued
International Market Sovereign - continued
Government of Japan, 2.2%, 2027	JPY	611,500,000	$	8,714,260
Government of Japan, 2.4%, 2037	JPY	537,550,000		7,668,713
Government of New Zealand, 6%, 2021	NZD	1,779,000		1,714,341
Kingdom of Belgium, 4.25%, 2021	EUR	3,635,000		5,264,868
Kingdom of Denmark, 3%, 2021	DKK	29,464,000		5,796,761
Kingdom of Norway, 3.75%, 2021	NOK	11,868,000		2,364,241
Kingdom of Spain, 4%, 2015	EUR	3,622,000		4,478,044
Kingdom of Spain, 5.5%, 2017	EUR	1,661,000		2,058,912
Kingdom of Spain, 4.6%, 2019	EUR	2,680,000		3,033,719
Kingdom of Sweden, 5%, 2020	SEK	28,340,000		5,505,891
Kingdom of the Netherlands, 3.75%, 2014	EUR	5,344,000		7,184,135
Kingdom of the Netherlands, 3.5%, 2020	EUR	360,000		524,220
Kingdom of the Netherlands, 5.5%, 2028	EUR	837,000		1,516,556
Republic of Finland, 4%, 2025	EUR	853,000		1,324,568
Republic of France, 6%, 2025	EUR	2,012,000		3,493,369
Republic of France, 4.75%, 2035	EUR	4,342,000		7,009,884
Republic of Iceland, 4.875%, 2016 (n)	$	1,007,000		1,049,798
Republic of Iceland, 4.875%, 2016		1,045,000		1,089,413
Republic of Italy, 4.25%, 2015	EUR	2,229,000		2,870,251
Republic of Italy, 5.25%, 2017	EUR	13,605,000		17,524,092
Republic of Italy, 3.75%, 2021	EUR	4,560,000		5,078,042
United Kingdom Treasury, 5%, 2018	GBP	1,554,000		3,043,438
United Kingdom Treasury, 8%, 2021	GBP	3,331,000		8,228,297
United Kingdom Treasury, 4.25%, 2027	GBP	4,316,000		8,738,328
United Kingdom Treasury, 4.25%, 2036	GBP	4,173,000		8,343,317

			$	224,213,200
Major Banks - 1.2%
ABN AMRO Bank N.V., FRN, 2.217%, 2014 (n)	$	1,300,000	$	1,308,715
Bank of America Corp., 7.625%, 2019		1,000,000		1,221,235
DBS Bank Ltd., 3.625% to 2017, FRN to 2022 (n)		392,000		402,561
JPMorgan Chase & Co., 4.5%, 2022		970,000		1,077,135
Morgan Stanley, 4.75%, 2017		1,020,000		1,047,812
PNC Financial Services Group, Inc., 5.125%, 2020		250,000		295,836

			$	5,353,294
Metals & Mining - 0.9%
AngloGold Ashanti Holdings PLC, 5.125%, 2022	$	1,015,000	$	1,037,335
Southern Copper Corp., 7.5%, 2035		1,021,000		1,266,879
Vale Overseas Ltd., 4.375%, 2022		1,732,000		1,775,090

			$	4,079,304
Mortgage-Backed - 0.4%
Fannie Mae, 2.578%, 2018	$	1,000,000	$	1,062,395
Freddie Mac, 3.882%, 2017		766,027		862,197

			$	1,924,592
Other Banks & Diversified Financials - 0.3%
BBVA Banco Continental S.A., 5%, 2022 (z)	$	216,000	$	221,940
BBVA Bancomer S.A. Texas, 6.75%, 2022 (n)		227,000		244,025
Citigroup, Inc., 6.125%, 2018		750,000		869,798

			$	1,335,763
Real Estate - 0.2%
Simon Property Group, Inc., REIT, 5.65%, 2020	$	890,000	$	1,070,901

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Bonds - continued
Telecommunications - Wireless - 0.2%
America Movil S.A.B. de C.V., 3.125%, 2022	$	1,056,000	$	1,082,436

Telephone Services - 0.1%
Oi S.A., 5.75%, 2022 (n)	$	208,000	$	216,070

Tobacco - 0.1%
Altria Group, Inc., 9.7%, 2018	$	252,000	$	361,755

U.S. Treasury Obligations - 13.8%
U.S. Treasury Bonds, 6.875%, 2025	$	2,306,000	$	3,634,113
U.S. Treasury Bonds, 5.25%, 2029		2,115,000		3,015,197
U.S. Treasury Bonds, 4.5%, 2039		3,737,000		5,159,979
U.S. Treasury Notes, 1.375%, 2013		18,347,000		18,428,699
U.S. Treasury Notes, 4.125%, 2015		16,764,000		18,490,172
U.S. Treasury Notes, 4.75%, 2017		5,243,000		6,303,481
U.S. Treasury Notes, 3.5%, 2020		5,572,000		6,548,404

			$	61,580,045
Total Bonds			$	388,933,632

Money Market Funds - 11.1%
MFS Institutional Money Market Portfolio, 0.16%, at Net Asset Value (v)		49,311,690	$	49,311,690
Total Investments			$	438,245,322

Other Assets, Less Liabilities - 1.9%				8,632,806
Net Assets - 100.0%			$	446,878,128

(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 $25,400,845, representing 5.7% of net assets.

(v)	Underlying affiliated fund 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.

(z)

Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. The fund holds the following restricted securities:


Restricted Securities	Acquisition Date	Cost		Value
BBVA Banco Continental S.A., 5%, 2022	8/23/2012		$216,000		$221,940
Credit Suisse (Russian Federation, CLN), 7.6%, 2021	7/09/2012		1,446,274		1,509,007
Republic of Peru, 6.95%, 2031	1/25/2012		2,006,459		2,465,732
Sinopec Group Overseas Development (2012) Ltd., 2.75%, 2017	5/10/2012		2,289,856		2,384,738
Total Restricted Securities					$6,581,417
% of Net assets					1.5%

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


CLN		Credit-Linked Note
FRN		Floating Rate Note. Interest rate resets periodically and may not be the rate reported at period end.
PLC		Public Limited Company
REIT		Real Estate Investment Trust

Portfolio of Investments (unaudited) – continued

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
COP		Colombian Peso
CZK		Czech Koruna
DKK		Danish Krone
EUR		Euro
GBP		British Pound
HUF		Hungarian Forint
IDR		Indonesian Rupiah
INR		Indian Rupee
JPY		Japanese Yen
MXN		Mexican Peso
MYR		Malaysian Ringgit
NOK		Norwegian Krone
NZD		New Zealand Dollar
PEN		Peruvian Nuevo Sol
PLN		Polish Zloty
RUB		Russian Ruble
SEK		Swedish Krona
SGD		Singapore Dollar
THB		Thailand Baht
TRY		Turkish Lira
ZAR		South African Rand

Derivative Contracts at 8/31/12

Forward Foreign Currency Exchange Contracts at 8/31/12


Type	Currency		Counterparty	Contracts to Deliver/Receive	Settlement Date Range	In Exchange For		Contracts at Value		Net Unrealized Appreciation (Depreciation)
Asset Derivatives
BUY		BRL	Deutsche Bank AG	13,480,000	10/02/12	$	6,560,177	$	6,611,040	$	50,863
BUY		BRL	JP Morgan Chase Bank N.A.	8,568,000	10/02/12		4,180,940		4,202,032		21,092
BUY		BRL	UBS AG	13,255,000	10/02/12		6,497,600		6,500,692		3,092
BUY		CAD	Citibank N.A.	147,000	10/12/12		148,375		149,008		633
BUY		CAD	Goldman Sachs International	606,671	10/12/12		611,026		614,959		3,933
BUY		CAD	Merrill Lynch International Bank	785,580	10/12/12		793,469		796,313		2,844
BUY		COP	JP Morgan Chase Bank N.A.	7,771,066,000	11/02/12		4,201,712		4,221,375		19,663
BUY		CZK	Goldman Sachs International	21,370,000	10/12/12		1,029,706		1,081,031		51,325
BUY		DKK	Credit Suisse Group	210,000	10/12/12		34,511		35,478		967
BUY		EUR	Barclays Bank PLC	3,878,097	10/12/12		4,773,379		4,879,773		106,394
BUY		EUR	Citibank N.A.	4,063,000	10/12/12		5,086,682		5,112,434		25,752
BUY		EUR	Credit Suisse Group	1,341,000	10/12/12		1,664,315		1,687,368		23,053
BUY		EUR	Deutsche Bank AG	842,000	10/12/12		1,025,608		1,059,481		33,873
BUY		EUR	Morgan Stanley Capital Services, Inc.	1,089,000	10/12/12		1,339,043		1,370,278		31,235
BUY		GBP	Barclays Bank PLC	1,122,000	10/12/12		1,744,755		1,781,335		36,580
SELL		IDR	JP Morgan Chase Bank N.A.	80,612,650,000	9/17/12		8,448,192		8,440,386		7,806
BUY		INR	JP Morgan Chase Bank N.A.	70,376,000	9/07/12		1,254,922		1,264,635		9,713
BUY		JPY	Citibank N.A.	562,455,553	10/12/12		7,081,460		7,185,912		104,452
BUY		JPY	Deutsche Bank AG	119,350,000	10/12/12		1,521,074		1,524,811		3,737
BUY		JPY	Merrill Lynch International Bank	562,455,553	10/12/12		7,075,740		7,185,912		110,172
BUY		JPY	Morgan Stanley Capital Services, Inc.	54,241,000	10/12/12		681,879		692,981		11,102
SELL		JPY	Citibank N.A.	208,907,156	10/12/12		2,672,251		2,668,990		3,261

Portfolio of Investments (unaudited) – continued


Type	Currency		Counterparty	Contracts to Deliver/Receive	Settlement Date Range	In Exchange For		Contracts at Value		Net Unrealized Appreciation (Depreciation)
Asset Derivatives – continued
BUY		MXN	Barclays Bank PLC	9,464,000	9/10/12	$	709,711	$	716,411	$	6,700
BUY		MXN	Citibank N.A.	46,557,000	10/12/12		3,505,567		3,513,314		7,747
BUY		MXN	Deutsche Bank AG	105,078,000	9/04/12-10/09/12		7,864,188		7,946,688		82,500
BUY		MXN	JP Morgan Chase Bank N.A.	153,825,710	9/04/12-10/09/12		11,494,004		11,634,322		140,318
BUY		MXN	UBS AG	19,490,000	9/10/12		1,461,846		1,475,364		13,518
BUY		MYR	JP Morgan Chase Bank N.A.	32,439,357	9/07/12		10,320,816		10,380,690		59,874
BUY		NOK	Deutsche Bank AG	232,000	10/12/12		39,004		39,977		973
BUY		PEN	Deutsche Bank AG	453,000	9/25/12		169,886		173,149		3,263
BUY		RUB	Citibank N.A.	61,761,000	10/29/12		1,894,056		1,898,536		4,480
BUY		RUB	JP Morgan Chase Bank N.A.	520,453,275	9/04/12-11/06/12		15,963,572		16,036,773		73,201
BUY		SEK	Citibank N.A.	3,874,740	10/12/12		576,782		584,244		7,462
BUY		SEK	Deutsche Bank AG	12,083,808	10/12/12		1,797,092		1,822,031		24,939
BUY		SGD	UBS AG	8,456,000	10/12/12		6,674,692		6,783,679		108,987
BUY		THB	JP Morgan Chase Bank N.A.	205,395,000	9/28/12		6,503,620		6,572,267		68,647
BUY		ZAR	Barclays Bank PLC	18,813,985	9/07/12		2,227,858		2,238,352		10,494
BUY		ZAR	JP Morgan Chase Bank N.A.	18,390,000	11/30/12		2,158,273		2,163,265		4,992

										$	1,279,637

Liability Derivatives
BUY		AUD	Citibank N.A.	1,372,060	10/12/12	$	1,440,836	$	1,412,640	$	(28,196	)
BUY		AUD	Morgan Stanley Capital Services, Inc.	132,000	10/12/12		137,460		135,904		(1,556	)
BUY		AUD	UBS AG	1,363,435	10/12/12		1,411,646		1,403,760		(7,886	)
SELL		AUD	Barclays Bank PLC	348,430	10/12/12		357,708		358,735		(1,027	)
SELL		AUD	Credit Suisse Group	33,000	10/12/12		33,650		33,976		(326	)
SELL		AUD	Goldman Sachs International	29,000	10/12/12		29,096		29,858		(762	)
SELL		AUD	Westpac Banking Corp.	4,239,169	10/12/12		4,291,395		4,364,547		(73,152	)
BUY		BRL	Deutsche Bank AG	620,000	10/02/12		304,818		304,069		(749	)
SELL		CAD	Barclays Bank PLC	4,000	10/12/12		4,034		4,055		(21	)
SELL		CAD	Credit Suisse Group	660,723	10/12/12		665,271		669,750		(4,479	)
SELL		CAD	Goldman Sachs International	60,000	10/12/12		59,686		60,820		(1,134	)
SELL		CAD	Merrill Lynch International Bank	5,329,368	10/12/12		5,203,597		5,402,178		(198,581	)
BUY		COP	JP Morgan Chase Bank N.A.	7,771,066,000	9/04/12		4,319,707		4,260,453		(59,254	)
SELL		COP	JP Morgan Chase Bank N.A.	7,771,066,000	9/04/12		4,234,913		4,260,453		(25,540	)
SELL		DKK	Citibank N.A.	19,769,266	10/12/12		3,268,989		3,339,896		(70,907	)
SELL		EUR	Barclays Bank PLC	7,573,829	10/12/12		9,335,441		9,530,077		(194,636	)
SELL		EUR	Credit Suisse Group	1,186,000	10/12/12		1,459,006		1,492,333		(33,327	)
SELL		EUR	Deutsche Bank AG	2,441,946	10/12/12		3,045,351		3,072,678		(27,327	)
SELL		EUR	Goldman Sachs International	8,106,000	10/12/12		9,967,962		10,199,703		(231,741	)
SELL		EUR	JP Morgan Chase Bank N.A.	44,677,689	10/12/12		54,857,691		56,217,510		(1,359,819	)
SELL		GBP	Barclays Bank PLC	635,729	10/12/12		987,992		1,009,310		(21,318	)
SELL		GBP	Deutsche Bank AG	593,729	10/12/12		921,372		942,629		(21,257	)
BUY		HUF	Barclays Bank PLC	1,753,663,000	10/17/12		7,733,339		7,715,239		(18,100	)
BUY		HUF	Citibank N.A.	401,654,000	10/17/12		1,805,309		1,767,076		(38,233	)
BUY		IDR	JP Morgan Chase Bank N.A.	80,629,903,000	9/10/12-9/17/12		8,475,545		8,445,892		(29,653	)
SELL		JPY	Barclays Bank PLC	547,252,000	10/12/12		6,957,698		6,991,672		(33,974	)
SELL		JPY	Credit Suisse Group	52,641,000	10/12/12		668,873		672,540		(3,667	)
SELL		JPY	Goldman Sachs International	108,376,000	10/12/12		1,380,120		1,384,608		(4,488	)
SELL		JPY	UBS AG	96,045,389	10/12/12		1,221,377		1,227,072		(5,695	)
BUY		MXN	Citibank N.A.	8,661,000	10/12/12		654,905		653,582		(1,323	)
BUY		MXN	Deutsche Bank AG	28,657,000	9/17/12		2,173,142		2,167,801		(5,341	)
SELL		MXN	CITIBANK N.A.	55,721,000	9/10/12		4,054,658		4,217,997		(163,339	)
SELL		MXN	Deutsche Bank AG	42,682,000	9/04/12		3,193,613		3,232,554		(38,941	)

Portfolio of Investments (unaudited) – continued


Type	Currency		Counterparty	Contracts to Deliver/Receive	Settlement Date Range	In Exchange For		Contracts at Value		Net Unrealized Appreciation (Depreciation)
Liability Derivatives – continued
SELL		MXN	JP Morgan Chase Bank N.A.	203,444,993	9/04/12-10/12/12	$	15,159,664	$	15,368,002	$	(208,338	)
BUY		MYR	Barclays Bank PLC	1,237,000	9/07/12		397,111		395,844		(1,267	)
BUY		MYR	JP Morgan Chase Bank N.A.	15,145,000	9/07/12		4,879,188		4,846,445		(32,743	)
SELL		NOK	Barclays Bank PLC	11,178,503	10/12/12		1,829,093		1,926,197		(97,104	)
SELL		NOK	Citibank N.A.	2,717,998	10/12/12		443,820		468,345		(24,525	)
BUY		NZD	Citibank N.A.	32,000	10/12/12		25,779		25,645		(134	)
SELL		NZD	UBS AG	2,148,078	10/12/12		1,694,049		1,721,491		(27,442	)
SELL		PEN	Barclays Bank PLC	554,000	9/25/12		206,447		211,755		(5,308	)
BUY		PLN	Deutsche Bank AG	43,077,528	11/23/12		13,018,928		12,877,430		(141,498	)
SELL		PLN	Merrill Lynch International Bank	14,538,000	11/23/12		4,337,014		4,345,934		(8,920	)
BUY		RUB	Citibank N.A.	61,761,000	9/04/12		1,949,188		1,915,367		(33,821	)
BUY		RUB	JP Morgan Chase Bank N.A.	323,104,000	9/06/12-9/13/12		10,103,016		10,014,491		(88,525	)
SELL		RUB	Citibank N.A.	61,761,000	9/04/12		1,910,910		1,915,367		(4,457	)
SELL		RUB	JP Morgan Chase Bank N.A.	352,577,638	9/04/12-9/06/12		10,890,034		10,933,516		(43,482	)
SELL		SEK	Barclays Bank PLC	567,000	10/12/12		80,266		85,494		(5,228	)
SELL		SEK	Credit Suisse Group	41,022,257	10/12/12		5,857,979		6,185,454		(327,475	)
BUY		TRY	Barclays Bank PLC	630,000	10/12/12		347,992		344,455		(3,537	)
BUY		TRY	JP Morgan Chase Bank N.A.	9,413,247	10/12/12		5,207,306		5,146,727		(60,579	)
SELL		TRY	JP Morgan Chase Bank N.A.	5,235,324	10/12/12		2,832,105		2,862,432		(30,327	)
BUY		ZAR	Citibank N.A.	25,766,000	10/12/12		3,114,819		3,050,723		(64,096	)
BUY		ZAR	Deutsche Bank AG	17,807,000	10/12/12		2,166,878		2,108,369		(58,509	)

										$	(3,973,064	)

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

Supplemental Information

8/31/12 (unaudited)

(1) Investment Concentration

The fund’s performance could be closely tied to the market, currency, economic, political, regulatory, geopolitical, or other conditions in the countries or regions in which the fund invests and could be more volatile than the performance of more geographically-diversified funds. The fund may invest between 25% and 35% of its total assets in the securities of issuers in any particular industry if, at the time of investment, that industry represents 20% or more 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 August 31, 2012 the fund did not have more than 25% of its assets invested in any one industry.

(2) Investment Valuations

Debt instruments and floating rate loans (other than short-term instruments), 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 generally are valued at amortized cost, which approximates market value. 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. Open-end investment companies are generally valued at net asset value per share. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. 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. Values obtained from third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

The Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund’s investments (including any fair valuation) to the adviser pursuant to valuation policies and procedures approved by the Board. If the adviser determines that reliable market quotations are not readily available, investments are valued at fair value as determined in good faith by the adviser in accordance with such procedures under the oversight of the Board of Trustees. Under the fund’s valuation policies and procedures, market quotations are not considered to be readily available for most types of debt instruments and floating rate loans and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services. In addition, investments may be valued at fair value if the adviser determines that an investment’s value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund’s net asset value, or after the halting 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 unobservable inputs, which may include the adviser’s own assumptions in determining the fair value of investments. Other financial instruments are derivative instruments not reflected in total investments such as forward foreign currency exchange contracts. The following is a summary of the levels used as of August 31, 2012 in valuing the fund’s assets or liabilities:


Investments at Value	Level 1		Level 2			Level 3		Total
U.S. Treasury Bonds & U.S. Government Agency & Equivalents		$—		$61,580,045			$—		$61,580,045
Non-U.S. Sovereign Debt		—		296,785,374			—		296,785,374
Corporate Bonds		—		10,483,008			—		10,483,008
Residential Mortgage-Backed Securities		—		1,924,592			—		1,924,592
Commercial Mortgage-Backed Securities		—		3,106,226			—		3,106,226
Foreign Bonds		—		15,054,387			—		15,054,387
Mutual Funds		49,311,690		—			—		49,311,690
Total Investments		$49,311,690		$388,933,632			$—		$438,245,322

Other Financial Instruments
Forward Foreign Currency Exchange Contracts		$—		$(2,693,427	)		$—		$—

Supplemental Information (unaudited) – continued

For further information regarding security characteristics, see the Portfolio of Investments.

(3) Portfolio Securities

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


Aggregate cost	$428,490,152
Gross unrealized appreciation	$14,935,431
Gross unrealized depreciation	(5,180,261	)
Net unrealized appreciation (depreciation)	$9,755,170

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

(4) Transactions in Underlying Affiliated Funds – Affiliated Issuers


Underlying Affiliated Fund	Beginning Shares/Par Amount		Acquisitions Shares/Par Amount		Dispositions Shares/Par Amount			Ending Shares/Par Amount
MFS Institutional Money Market Portfolio		33,952,875		53,877,215		(38,518,400	)		49,311,690

Underlying Affiliated Fund	Realized Gain (Loss)		Capital Gain Distributions		Dividend Income			Ending Value
MFS Institutional Money Market Portfolio		$—		$—		$13,629			$49,311,690

(5) Issuer Country Weightings

Issuer country weighting percentages of portfolio holdings based on net assets, as of 8/31/12, are as follows:


United States			29.4%
Japan			14.2%
Germany			8.1%
United Kingdom			6.4%
Italy			5.7%
Mexico			4.7%
Turkey			3.4%
Russia			2.9%
Canada			2.7%
Other Countries			22.5%

The issuer country weighting percentages include both accrued interest amounts and the equivalent exposure from any derivative holdings, if applicable.

QUARTERLY REPORT

August 31, 2012

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MFS® ABSOLUTE RETURN FUND

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PORTFOLIO OF INVESTMENTS

8/31/12 (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 - 89.1%
Airlines - 0.3%
Continental Airlines, Inc., FRN, 0.817%, 2013	$	322,544	$	314,480

Apparel Manufacturers - 0.4%
VF Corp., FRN, 1.184%, 2013	$	450,000	$	452,307

Asset-Backed & Securitized - 6.0%
Ally Auto Receivables Trust, “A2”, 0.67%, 2013	$	10,317	$	10,318
Anthracite Ltd., “A”, CDO, FRN, 0.597%, 2019 (z)		131,174		114,121
ARI Fleet Lease Trust, “A”, FRN, 0.79%, 2020 (n)		648,906		648,906
Chesapeake Funding LLC, “A”, FRN, 1.99%, 2021 (z)		183,036		184,500
Chesapeake Funding LLC, “A”, FRN, 0.994%, 2023 (z)		554,000		555,486
Credit Acceptance Auto Loan Trust, “A”, 2.2%, 2019 (z)		250,000		251,512
Ford Credit Auto Lease Trust, “A2”, 0.74%, 2013		392,631		392,923
Ford Credit Floorplan Master Owner Trust, “A2”, FRN, 0.839%, 2015		312,000		313,550
GE Equipment Transportation LLC, “A2”, 0.77%, 2013		227,770		227,850
GE Equipment Transportation LLC, “A2”, 0.77%, 2014		435,927		436,784
Hertz Global Holdings, Inc., 4.26%, 2014 (n)		450,000		455,861
Hyundai Auto Receivables Trust, “A3”, 1.16%, 2015		150,000		150,759
John Deere Owner Trust, “A2”, 0.64%, 2014		30,735		30,742
Nissan Auto Lease Trust, “A2”, 0.7%, 2014		458,039		458,904
Porsche Innovative Lease Owner Trust, 0.92%, 2014 (n)		265,760		265,985
Santander Drive Auto Receivable Trust, “A2”, 1.04%, 2014		392,389		392,915
Santander Drive Auto Receivable Trust, “A2”, 0.91%, 2015		408,000		409,279
Santander Drive Auto Receivable Trust, “A2”, 0.57%, 2015		730,000		730,757
Smart Trust, “A2B”, FRN, 0.79%, 2014 (z)		614,000		614,477
Wachovia Bank Commercial Mortgage Trust, “A3”, FRN, 6.097%, 2051		500,000		527,169

			$	7,172,798
Automotive - 3.1%
American Honda Finance Corp., 1.85%, 2014 (n)	$	620,000	$	632,766
Daimler Finance North America LLC, FRN, 1.788%, 2013 (n)		240,000		241,986
Daimler Finance North America LLC, FRN, 1.668%, 2013 (n)		300,000		302,281
Ford Motor Credit Co. LLC, 4.207%, 2016 (n)		200,000		209,197
Harley-Davidson Financial Services, 3.875%, 2016 (n)		420,000		446,142
Nissan Motor Acceptance Corp., 3.25%, 2013 (n)		100,000		100,849
Nissan Motor Acceptance Corp., 4.5%, 2015 (n)		300,000		321,036
RCI Banque S.A., FRN, 2.328%, 2014 (n)		430,000		420,761
Toyota Motor Credit Corp., 1.25%, 2014		260,000		263,580
Toyota Motor Credit Corp., 3.2%, 2015		125,000		133,615
Volkswagen International Finance N.V., FRN, 1.218%, 2014 (n)		600,000		601,852

			$	3,674,065
Banks & Diversified Financials (Covered Bonds) - 2.1%
Bank of Nova Scotia, 1.45%, 2013 (n)	$	725,000	$	732,178
Canadian Imperial Bank of Commerce, 2%, 2013 (n)		125,000		125,888
Compagnie de Financement Foncier, 2.125%, 2013 (n)		500,000		504,150
DnB Nor Boligkreditt AS, 2.1%, 2015 (n)		500,000		516,900
SpareBank 1 Boligkreditt A.S., 2.625%, 2016 (n)		400,000		421,920
Stadshypotek AB, FRN, 1.45%, 2013 (z)		250,000		252,450

			$	2,553,486

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Bonds - continued
Broadcasting - 0.9%
NBCUniversal Media LLC, 2.1%, 2014	$	400,000	$	408,421
Vivendi S.A., 2.4%, 2015 (n)		240,000		241,244
WPP Finance, 8%, 2014		375,000		420,803

			$	1,070,468
Brokerage & Asset Managers - 0.9%
BlackRock, Inc., 3.5%, 2014	$	125,000	$	133,163
BlackRock, Inc., 1.375%, 2015		500,000		509,225
Franklin Resources, Inc., 2%, 2013		425,000		429,699

			$	1,072,087
Cable TV - 0.6%
Comcast Corp., 5.3%, 2014	$	125,000	$	132,710
DIRECTV Holdings LLC, 4.75%, 2014		425,000		456,850
DIRECTV Holdings LLC, 2.4%, 2017		120,000		123,559

			$	713,119
Chemicals - 0.9%
Dow Chemical Co., 7.6%, 2014	$	500,000	$	554,867
Potash Corp. of Saskatchewan, Inc., 5.25%, 2014		100,000		107,441
PPG Industries, Inc., 5.75%, 2013		450,000		462,087

			$	1,124,395
Computer Software - 0.4%
Adobe Systems, Inc., 3.25%, 2015	$	425,000	$	448,237

Conglomerates - 1.2%
ABB Finance (USA), Inc., 1.625%, 2017	$	97,000	$	98,574
ABB Treasury Center USA, Inc., 2.5%, 2016 (n)		600,000		626,738
Ingersoll-Rand Global Holding Co. Ltd., 6%, 2013		220,000		230,565
Ingersoll-Rand Global Holding Co. Ltd., 9.5%, 2014		230,000		258,896
United Technologies Corp., FRN, 0.967%, 2015		240,000		243,266

			$	1,458,039
Consumer Products - 1.9%
Clorox Co., 5%, 2013	$	625,000	$	638,774
LVMH Moet Hennessy Louis Vuitton S.A., 1.625%, 2017 (n)		290,000		291,864
Mattel, Inc., 5.625%, 2013		400,000		410,373
Newell Rubbermaid, Inc., 5.5%, 2013		100,000		102,735
Newell Rubbermaid, Inc., 2%, 2015		400,000		402,877
Procter & Gamble Co., 0.7%, 2014		450,000		452,277

			$	2,298,900
Consumer Services - 0.4%
eBay, Inc., 1.35%, 2017	$	264,000	$	266,412
Experian Finance PLC, 2.375%, 2017 (n)		249,000		251,686

			$	518,098
Defense Electronics - 0.4%
BAE Systems Holdings, Inc., 4.95%, 2014 (n)	$	420,000	$	442,665

Electronics - 0.8%
Applied Materials, Inc., 2.65%, 2016	$	400,000	$	423,074
Broadcom Corp., 1.5%, 2013		125,000		126,481
Tyco Electronics Group S.A., 1.6%, 2015		270,000		273,728
Tyco Electronics Ltd., 6%, 2012		125,000		125,488

			$	948,771

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Bonds - continued
Emerging Market Quasi-Sovereign - 0.9%
Corporacion Nacional del Cobre de Chile, 4.75%, 2014 (n)	$	425,000	$	453,756
Korea Gas Corp., 2.25%, 2017 (z)		260,000		260,165
Petrobras International Finance Co., 3.875%, 2016		390,000		409,455

			$	1,123,376
Emerging Market Sovereign - 0.6%
Russian Federation, 3.25%, 2017 (n)	$	400,000	$	419,268
State of Qatar, 5.15%, 2014 (n)		300,000		317,700

			$	736,968
Energy - Independent - 0.8%
Encana Holdings Finance Corp., 5.8%, 2014	$	440,000	$	472,806
Hess Corp., 7%, 2014		400,000		434,820

			$	907,626
Energy - Integrated - 2.8%
BG Energy Capital PLC, 2.875%, 2016 (n)	$	280,000	$	296,822
BP Capital Markets PLC, 3.125%, 2015		450,000		481,333
Cenovus Energy, Inc., 4.5%, 2014		425,000		455,384
Husky Energy, Inc., 5.9%, 2014		400,000		434,554
Petro-Canada Financial Partnership, 5%, 2014		420,000		455,291
Shell International Finance B.V., 1.125%, 2017		600,000		603,154
Total Capital International S.A., 1.5%, 2017		500,000		507,900
TOTAL S.A., 3%, 2015		125,000		133,342

			$	3,367,780
Entertainment - 0.5%
Viacom, Inc., 1.25%, 2015	$	650,000	$	656,400

Financial Institutions - 0.9%
General Electric Capital Corp., 1.875%, 2013	$	175,000	$	177,455
General Electric Capital Corp., 2.15%, 2015		200,000		206,095
General Electric Capital Corp., FRN, 1.31%, 2014		700,000		704,302

			$	1,087,852
Food & Beverages - 5.2%
Anheuser-Busch InBev S.A., 3%, 2012	$	125,000	$	125,345
Anheuser-Busch InBev S.A., 3.625%, 2015		500,000		537,827
Anheuser-Busch InBev S.A., 1.375%, 2017		130,000		131,464
Cadbury Schweppes U.S. Finance, 5.125%, 2013		125,000		130,377
Campbell Soup Co., FRN, 0.743%, 2014		600,000		602,867
Cargill, Inc., 5.2%, 2013 (n)		300,000		305,513
Conagra Foods, Inc., 5.875%, 2014		325,000		350,059
Diageo Capital PLC, 7.375%, 2014		400,000		436,786
Diageo Capital PLC, 1.5%, 2017		300,000		305,652
General Mills, Inc., 5.25%, 2013		125,000		130,585
General Mills, Inc., 5.2%, 2015		400,000		444,610
H.J. Heinz Co., 5.35%, 2013		425,000		442,385
Kellogg Co., 4.45%, 2016		200,000		222,836
Kraft Foods Group, Inc., 1.625%, 2015 (n)		480,000		487,536
Miller Brewing Co., 5.5%, 2013 (n)		125,000		130,078
Molson Coors Brewing Co., 2%, 2017		500,000		510,829
PepsiCo, Inc., 2.5%, 2016		225,000		237,524
Pernod-Ricard S.A., 2.95%, 2017 (n)		410,000		427,290
SABMiller Holdings, Inc., 1.85%, 2015 (n)		220,000		225,396

			$	6,184,959

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Bonds - continued
Food & Drug Stores - 0.3%
CVS Caremark Corp., 3.25%, 2015	$	350,000	$	371,280

Gaming & Lodging - 0.3%
Marriott International, Inc., 5.625%, 2013	$	100,000	$	102,042
Wyndham Worldwide Corp., 2.95%, 2017		242,000		243,836

			$	345,878
Insurance - 2.7%
Aflac, Inc., 3.45%, 2015	$	400,000	$	427,940
American International Group, Inc., 3.65%, 2014		400,000		410,544
American International Group, Inc., 3%, 2015		140,000		143,999
Lincoln National Corp., 4.3%, 2015		125,000		133,268
MassMutual Global Funding, FRN, 0.835%, 2014 (n)		130,000		130,437
MetLife, Inc., FRN, 1.692%, 2013		550,000		555,658
Metropolitan Life Global Funding I, 5.125%, 2013 (n)		130,000		133,511
New York Life Global Funding, 1.3%, 2015 (n)		740,000		752,103
Prudential Financial, Inc., 3.625%, 2012		125,000		125,128
Prudential Financial, Inc., 2.75%, 2013		400,000		403,074

			$	3,215,662
Insurance - Health - 0.9%
UnitedHealth Group, Inc., 4.875%, 2013	$	460,000	$	468,746
UnitedHealth Group, Inc., 4.875%, 2013		125,000		128,070
WellPoint, Inc., 5%, 2014		400,000		433,552

			$	1,030,368
Insurance - Property & Casualty - 1.2%
ACE Ltd., 2.6%, 2015	$	215,000	$	225,412
Aon Corp., 3.5%, 2015		375,000		395,394
AXIS Capital Holdings Ltd., 5.75%, 2014		370,000		398,089
Berkshire Hathaway, Inc., FRN, 1.135%, 2014		460,000		465,369

			$	1,484,264
International Market Quasi-Sovereign - 5.8%
Achmea Hypotheekbank N.V., 3.2%, 2014 (n)	$	487,000	$	509,894
Caisse d’Amortissement de la Dette Sociale, 3.5%, 2014		800,000		840,272
Dexia Credit Local, NY, 2%, 2013 (n)		250,000		250,184
Electricite de France PLC, 5.5%, 2014 (n)		500,000		529,319
Finance for Danish Industry A.S., 2%, 2013 (n)		850,000		858,976
ING Bank N.V., 3.9%, 2014 (n)		200,000		209,644
Instituto de Credito Oficial, 2.5%, 2012		200,000		199,869
KfW Bankengruppe, 3.5%, 2014		175,000		183,432
Kommunalbanken AS, 1%, 2014 (n)		620,000		625,400
Kommunalbanken AS, 1.75%, 2015 (n)		150,000		154,755
Landwirtschaftliche Rentenbank, 3.125%, 2016 (n)		300,000		324,030
Nederlandse Waterschapsbank N.V., 1.375%, 2014 (n)		750,000		757,155
Oesterreichische Kontrollbank AG, 1.375%, 2014		1,000,000		1,011,725
Societe Financement de l’ Economie Francaise, 3.375%, 2014 (n)		150,000		156,889
Statoil A.S.A., 2.9%, 2014		125,000		131,400
Statoil A.S.A., 1.8%, 2016		180,000		186,562

			$	6,929,506
International Market Sovereign - 1.0%
Republic of Finland, 1.25%, 2015 (n)	$	1,000,000	$	1,022,900
Republic of Iceland, 4.875%, 2016 (n)		201,000		209,543

			$	1,232,443

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Bonds - continued
Local Authorities - 1.2%
Province of British Columbia, 2.85%, 2015	$	1,000,000	$	1,066,500
Province of Ontario, 2.3%, 2016		300,000		316,410

			$	1,382,910
Machinery & Tools - 0.3%
Caterpillar Financial Services Corp., 1.1%, 2015	$	300,000	$	304,277

Major Banks - 5.6%
ABN AMRO Bank N.V., 3%, 2014 (n)	$	200,000	$	201,287
ABN AMRO Bank N.V., FRN, 2.217%, 2014 (n)		230,000		231,542
ANZ National (International) Ltd., FRN, 1.468%, 2013 (n)		450,000		453,765
Commonwealth Bank of Australia, 3.75%, 2014 (n)		125,000		131,638
DBS Bank Ltd., 2.35%, 2017 (n)		420,000		432,911
HSBC Bank PLC, 3.1%, 2016 (n)		420,000		440,231
ING Bank N.V., 3.75%, 2017 (n)		232,000		240,452
ING Bank N.V., FRN, 1.518%, 2013 (n)		200,000		200,678
ING Bank N.V., FRN, 1.868%, 2014 (n)		350,000		348,492
Intesa Sanpaolo S.p.A., FRN, 2.831%, 2014 (n)		200,000		191,697
KeyCorp, 3.75%, 2015		100,000		107,686
Macquarie Bank Ltd., 5%, 2017 (n)		580,000		605,868
National Australia Bank Ltd., 2%, 2015		420,000		427,933
PNC Funding Corp., 3.625%, 2015		125,000		133,102
Royal Bank of Scotland PLC, 4.375%, 2016		120,000		126,490
Standard Chartered PLC, 3.85%, 2015 (n)		100,000		104,550
Standard Chartered PLC, FRN, 1.388%, 2014 (n)		500,000		498,382
Sumitomo Mitsui Banking Corp., 1.35%, 2015		420,000		424,226
Wells Fargo & Co., 3.75%, 2014		550,000		581,738
Wells Fargo & Co., 1.25%, 2015		250,000		252,539
Westpac Banking Corp., 2%, 2017		610,000		616,431

			$	6,751,638
Medical & Health Technology & Services - 2.0%
Aristotle Holding, Inc., 2.1%, 2015 (n)	$	385,000	$	392,417
Baxter International, Inc., 1.85%, 2017		210,000		217,721
Becton, Dickinson & Co., 1.75%, 2016		150,000		154,984
Covidien International Finance S.A., 1.875%, 2013		500,000		505,135
Covidien International Finance S.A., 1.35%, 2015		250,000		252,533
McKesson Corp., 3.25%, 2016		375,000		403,777
Thermo Fisher Scientific, Inc., 2.25%, 2016		440,000		455,734

			$	2,382,301
Metals & Mining - 1.0%
Anglo American Capital, 2.15%, 2013 (n)	$	400,000	$	402,680
Freeport-McMoRan Copper & Gold, Inc., 2.15%, 2017		310,000		312,837
Rio Tinto Finance (USA) Ltd., 2.5%, 2016		500,000		521,550

			$	1,237,067
Mortgage-Backed - 4.6%
Fannie Mae, 5.324%, 2016	$	212,920	$	239,254
Fannie Mae, 4%, 2025		1,500,235		1,606,360
Fannie Mae, 3%, 2027		1,244,272		1,314,899
Fannie Mae, TBA, 3%, 2018		1,100,000		1,160,328
Freddie Mac, 1.655%, 2016		197,790		204,194
Freddie Mac, 3.5%, 2026		870,547		921,617

			$	5,446,652

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Bonds - continued
Natural Gas - Pipeline - 1.0%
Energy Transfer Partners LP, 8.5%, 2014	$	257,000	$	284,047
Enterprise Products Operating LP, 3.2%, 2016		400,000		421,981
Kinder Morgan Energy Partners LP, 5.125%, 2014		420,000		454,327

			$	1,160,355
Network & Telecom - 1.6%
BellSouth Corp., 5.2%, 2014	$	400,000	$	435,299
France Telecom, 2.125%, 2015		125,000		127,891
Telecom Italia Capital, 5.25%, 2013		400,000		409,500
Telefonica Emisiones S.A.U., 2.582%, 2013		275,000		275,275
Verizon Communications, Inc., 5.25%, 2013		600,000		617,608

			$	1,865,573
Oil Services - 0.4%
Noble Corp., 5.875%, 2013	$	500,000	$	518,145

Oils - 0.1%
Phillips 66, 1.95%, 2015 (n)	$	180,000	$	183,566

Other Banks & Diversified Financials - 4.1%
American Express Centurion Bank, 5.5%, 2013	$	250,000	$	257,581
American Express Credit Corp., 2.8%, 2016		450,000		479,090
BB&T Corp., 2.05%, 2014		170,000		173,749
BBVA Senior Finance S.A. Unipersonal, FRN, 2.562%, 2014		300,000		286,852
Capital One Financial Corp., 2.15%, 2015		270,000		276,532
Capital One Financial Corp., FRN, 1.605%, 2014		450,000		453,215
Danske Bank A/S, 3.75%, 2015 (n)		100,000		102,309
Lloyds TSB Bank PLC, 4.375%, 2015 (n)		675,000		703,080
National Bank of Canada, 1.5%, 2015		270,000		274,907
Nordea Bank AB, 1.75%, 2013 (n)		125,000		125,649
Santander International Debt S.A., 2.991%, 2013 (n)		300,000		296,031
Santander UK PLC, 3.875%, 2014 (n)		100,000		100,700
SunTrust Banks, Inc., 3.5%, 2017		303,000		321,514
Svenska Handelsbanken AB, 2.875%, 2012 (n)		125,000		125,066
Svenska Handelsbanken AB, 4.875%, 2014 (n)		100,000		106,250
Svenska Handelsbanken AB, 2.875%, 2017		289,000		300,994
Union Bank, FRN, 1.417%, 2014		500,000		497,842

			$	4,881,361
Personal Computers & Peripherals - 0.3%
Hewlett-Packard Co., 2.625%, 2014	$	320,000	$	327,400

Pharmaceuticals - 1.3%
Amgen, Inc., 2.3%, 2016	$	450,000	$	468,280
Celgene Corp., 2.45%, 2015		425,000		439,931
Sanofi, 1.2%, 2014		200,000		202,800
Teva Pharmaceutical Finance III, 1.7%, 2014		420,000		426,846

			$	1,537,857
Printing & Publishing - 0.4%
Pearson PLC, 4%, 2016 (n)	$	500,000	$	535,715

Real Estate - 1.2%
ERP Operating, REIT, 5.125%, 2016	$	510,000	$	571,637
HCP, Inc., REIT, 2.7%, 2014		470,000		479,590

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Bonds - continued
Real Estate - continued
Simon Property Group, Inc., REIT, 6.1%, 2016	$	222,000	$	255,467
WEA Finance LLC, REIT, 5.4%, 2012 (n)		100,000		100,310

			$	1,407,004
Retailers - 0.9%
AutoZone, Inc., 6.5%, 2014	$	125,000	$	134,289
Home Depot, Inc., 5.25%, 2013		125,000		132,722
Staples, Inc., 9.75%, 2014		300,000		335,067
Wesfarmers Ltd., 6.998%, 2013 (n)		100,000		103,360
Wesfarmers Ltd., 2.983%, 2016 (n)		400,000		416,333

			$	1,121,771
Specialty Chemicals - 0.8%
Airgas, Inc., 2.95%, 2016	$	400,000	$	418,410
Ecolab, Inc., 2.375%, 2014		200,000		207,492
Ecolab, Inc., 1%, 2015		350,000		351,381

			$	977,283
Specialty Stores - 0.3%
Best Buy Co., Inc., 6.75%, 2013	$	300,000	$	308,102

Supermarkets - 0.8%
Delhaize Group, 5.875%, 2014	$	360,000	$	378,588
Kroger Co., 5%, 2013		125,000		128,079
Tesco PLC, 2%, 2014 (n)		280,000		283,651
Woolworths Ltd., 2.55%, 2015 (n)		125,000		129,675

			$	919,993
Supranational - 1.6%
Council of Europe, 4.5%, 2014	$	800,000	$	856,051
European Investment Bank, 5%, 2013		1,000,000		1,050,800

			$	1,906,851
Telecommunications - Wireless - 0.8%
America Movil S.A.B. de C.V., 2.375%, 2016	$	200,000	$	207,681
Crown Castle Towers LLC, 4.523%, 2015 (n)		560,000		591,286
Vodafone Group PLC, 4.15%, 2014		125,000		132,584

			$	931,551
Tobacco - 1.0%
Altria Group, Inc., 8.5%, 2013	$	325,000	$	354,401
B.A.T. International Finance PLC, 8.125%, 2013 (n)		125,000		135,096
B.A.T. International Finance PLC, 1.4%, 2015 (n)		470,000		473,637
Lorillard Tobacco Co., 3.5%, 2016		190,000		202,247

			$	1,165,381
Transportation - Services - 0.6%
ERAC USA Finance Co., 2.75%, 2013 (n)	$	525,000	$	533,045
ERAC USA Finance Co., 2.75%, 2017 (n)		202,000		208,204

			$	741,249
U.S. Government Agencies and Equivalents - 3.7%
Aid-Egypt, 4.45%, 2015	$	730,000	$	817,710
Federal Home Loan Bank, 1.375%, 2014		2,000,000		2,041,024
National Credit Union Administration, 1.4%, 2015		820,000		837,466
Small Business Administration, 2.25%, 2021		727,272		754,981

			$	4,451,181

Portfolio of Investments (unaudited) – continued


Issuer	Shares/Par		Value ($)

Bonds - continued
U.S. Treasury Obligations - 4.2%
U.S. Treasury Notes, 0.5%, 2012 (f)	$	5,000,000	$	5,004,295

Utilities - Electric Power - 5.1%
Dominion Resources, Inc., 1.95%, 2016	$	460,000	$	473,493
DTE Energy Co., FRN, 1.167%, 2013		400,000		401,229
Duke Energy Corp., 6.3%, 2014		525,000		564,978
Duke Energy Corp., 1.625%, 2017		110,000		110,307
EDP Finance B.V., 5.375%, 2012 (n)		300,000		301,350
Enel Finance International S.A., 5.7%, 2013 (n)		320,000		323,479
Exelon Generation Co. LLC, 5.35%, 2014		400,000		422,975
Iberdrola Finance Ireland Ltd., 3.8%, 2014 (n)		125,000		124,665
NextEra Energy Capital Holdings, Inc., 1.611%, 2014		530,000		533,929
Northeast Utilities, FRN, 1.218%, 2013		800,000		804,502
PG&E Corp., 5.75%, 2014		200,000		214,696
PPL WEM Holdings PLC, 3.9%, 2016 (n)		440,000		464,741
Progress Energy, Inc., 6.05%, 2014		500,000		537,896
PSEG Power LLC, 2.75%, 2016		190,000		198,212
Southern Co., 2.375%, 2015		550,000		573,433

			$	6,049,885
Total Bonds			$	106,435,640

Money Market Funds - 10.9%
MFS Institutional Money Market Portfolio, 0.16%, at Net Asset Value (v)		13,069,580	$	13,069,580
Total Investments			$	119,505,220

Other Assets, Less Liabilities - (0.0)%				(21,037	)
Net Assets - 100.0%			$	119,484,183

(f)	All or a portion of the security has been segregated as collateral for open futures contracts.

(n)

(v)	Underlying affiliated fund 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.

(z)


Restricted Securities	Acquisition Date	Cost		Value
Anthracite Ltd., “A”, CDO, FRN, 0.597%, 2019	5/11/11		$121,619		$114,121
Chesapeake Funding LLC, “A”, FRN, 1.99%, 2021	8/09/12		184,943		184,500
Chesapeake Funding LLC, “A”, FRN, 0.994%, 2023	5/10/12		554,000		555,486
Credit Acceptance Auto Loan Trust, “A”, 2.2%, 2019	3/22/12		249,973		251,512
Korea Gas Corp., 2.25%, 2017	7/18/12		258,756		260,165
Smart Trust, “A2B”, FRN, 0.79%, 2014	3/07/12		614,000		614,477
Stadshypotek AB, FRN, 1.45%, 2013	6/08/11		251,024		252,450
Total Restricted Securities					$2,232,711
% of Net assets					1.9%

Portfolio of Investments (unaudited) – continued

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


CDO		Collateralized Debt Obligation
FRN		Floating Rate Note. Interest rate resets periodically and may not be the rate reported at period end.
PLC		Public Limited Company
REIT		Real Estate Investment Trust
TBA		To Be Announced

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
EUR		Euro
GBP		British Pound
HKD		Hong Kong Dollar
JPY		Japanese Yen
KRW		Korean Won
MXN		Mexican Peso
NOK		Norwegian Krone
NZD		New Zealand Dollar
SEK		Swedish Krona
SGD		Singapore Dollar
TRY		Turkish Lira
ZAR		South African Rand

Derivative Contracts at 8/31/12

Forward Foreign Currency Exchange Contracts at 8/31/12


Type	Currency		Counterparty	Contracts to Deliver/Receive	Settlement Date Range	In Exchange For		Contracts at Value		Net Unrealized Appreciation (Depreciation)
Asset Derivatives
SELL		AUD	JPMorgan Chase Bank N.A.	1,389,228	11/08/12	$	1,445,096	$	1,426,642	$	18,454
BUY		GBP	JPMorgan Chase Bank N.A.	1,852,180	11/08/12		2,916,180		2,940,377		24,197
SELL		JPY	Goldman Sachs International	238,597,108	11/08/12		3,054,512		3,049,106		5,406
SELL		JPY	JPMorgan Chase Bank N.A.	136,960,390	11/08/12		1,752,140		1,750,259		1,881
SELL		NZD	JPMorgan Chase Bank N.A.	2,968,297	11/08/12		2,387,134		2,374,259		12,875
BUY		SEK	Goldman Sachs International	22,728,345	11/08/12		3,375,343		3,423,496		48,153
BUY		SEK	JPMorgan Chase Bank N.A.	14,134,124	11/08/12		2,069,448		2,128,976		59,528

										$	170,494

Liability Derivatives
BUY		AUD	JPMorgan Chase Bank N.A.	1,026,587	11/08/12	$	1,076,000	$	1,054,235	$	(21,765	)
SELL		CAD	JPMorgan Chase Bank N.A.	243,248	11/08/12		242,072		246,414		(4,342	)
SELL		EUR	Goldman Sachs International	75,675	11/08/12		93,482		95,255		(1,773	)
SELL		GBP	JPMorgan Chase Bank N.A.	2,183,936	11/08/12		3,419,000		3,467,047		(48,047	)
SELL		JPY	Goldman Sachs International	114,613,632	11/08/12		1,464,000		1,464,683		(683	)
SELL		NOK	JPMorgan Chase Bank N.A.	13,379,152	11/08/12		2,212,120		2,302,899		(90,779	)
BUY		NZD	JPMorgan Chase Bank N.A.	2,506,850	11/08/12		2,031,000		2,005,161		(25,839	)

										$	(193,228	)

Portfolio of Investments (unaudited) – continued

Futures Contracts Outstanding at 8/31/12


Description	Currency		Contracts		Value	Expiration Date	Unrealized Appreciation (Depreciation)
Asset Derivatives
*Equity Futures*
AEX Amsterdam Index (Short)		EUR		7	$579,959	September - 2012		$4,991
FTSE 100 Index (Long)		GBP		22	1,990,640	September - 2012		100,490
FTSE MIB Index (Long)		EUR		20	1,900,158	September - 2012		236,086
FTSE JSE Top 40 Index (Long)		ZAR		37	1,369,040	September - 2012		25,180
Hang Seng Index (Short)		HKD		14	1,752,408	September - 2012		24,051
IBEX Index (Long)		EUR		15	1,396,649	September - 2012		50,507
ISE 30 Index (Long)		TRY		427	1,936,432	October - 2012		15,237
MSCI Singapore Index (Short)		SGD		5	278,921	September - 2012		642
NIFTY Index (Short)		USD		42	444,854	September - 2012		8,036
NIKKEI 225 Index (Short)		JPY		17	1,922,917	September - 2012		722

								$465,942

*Interest Rate Futures*
Australian Treasury Bond 10 yr (Long)		AUD		42	$5,454,572	September - 2012		$68,990
Japan Govt Bond 10 yr (Short)		JPY		4	7,356,792	September - 2012		3,500
U.S. Treasury Note 10 yr (Long)		USD		34	4,546,438	December - 2012		33,881

								$106,371

								$572,313

Liability Derivatives
*Equity Futures*
Australian SPI 200 Index (Short)		AUD		4	$445,830	September - 2012		$(5,128	)
Bovespa Index (Long)		BRL		99	2,810,519	October - 2012		(120,280	)
CAC 40 Index (Long)		EUR		83	3,555,253	September - 2012		(32,593	)
DAX Index (Long)		EUR		13	2,849,027	September - 2012		(5,583	)
H-shares Index (Long)		HKD		14	836,073	September - 2012		(16,821	)
KOSPI Index (Short)		KRW		4	443,208	September - 2012		(19,402	)
Mex Bolsa Index (Short)		MXN		17	509,338	September - 2012		(17,308	)
MSCI Taiwan Index (Long)		USD		11	288,819	September - 2012		(434	)
OMX Index (Long)		SEK		14	221,346	September - 2012		(8,315	)
Russell 2000 Index (Short)		USD		29	2,352,190	September - 2012		(133,985	)
S&P 500 E-Mini Index (Short)		USD		22	1,545,610	September - 2012		(115,456	)
S&P TSX 60 Index (Short)		CAD		27	3,739,873	September - 2012		(208,848	)

								$(684,153	)

*Interest Rate Futures*
Euro Bund (Short)		EUR		15	$2,717,225	September - 2012		$(21,546	)
Govt Of Canada Bond 10 yr (Short)		CAD		30	4,158,458	December - 2012		(17,773	)
GB Govt Bond 10 yr (Short)		GBP		9	1,728,454	December - 2012		(1,608	)
U.S. Treasury Note 5 yr (Short)		USD		39	4,861,898	December - 2012		(12,019	)

								$(52,946	)

								$(737,099	)

At August 31, 2012, the fund had liquid securities with an aggregate value of $3,088,654 to cover any commitments for certain derivative contracts.

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

Supplemental Information

8/31/12 (unaudited)

(1) Investment Valuations

Debt instruments and floating rate loans (other than short-term instruments), 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 generally are valued at amortized cost, which approximates market value. Futures contracts are generally valued at last posted settlement price as provided by a third-party pricing service on the market on which they are primarily traded. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation as provided by a third-party pricing service on the market on which such futures contracts are primarily traded. 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. Open-end investment companies are generally valued at net asset value per share. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. Values obtained from third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

The Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund’s investments (including any fair valuation) to the adviser pursuant to valuation policies and procedures approved by the Board. If the adviser determines that reliable market quotations are not readily available, investments are valued at fair value as determined in good faith by the adviser in accordance with such procedures under the oversight of the Board of Trustees. Under the fund’s valuation policies and procedures, market quotations are not considered to be readily available for most types of debt instruments and floating rate loans and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services. In addition, investments may be valued at fair value if the adviser determines that an investment’s value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund’s net asset value, or after the halting 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 unobservable inputs, which may include the adviser’s own assumptions in determining the fair value of investments. Other financial instruments are derivative instruments not reflected in total investments, such as futures contracts and forward foreign currency exchange contracts. The following is a summary of the levels used as of August 31, 2012 in valuing the fund’s assets or liabilities:


Investments at Value	Level 1			Level 2			Level 3		Total
U.S. Treasury Bonds & U.S. Government Agency & Equivalents		$—			$9,455,476			$—		$9,455,476
Non-U.S. Sovereign Debt		—			11,929,144			—		11,929,144
Corporate Bonds		—			43,830,856			—		43,830,856
Residential Mortgage-Backed Securities		—			5,446,652			—		5,446,652
Commercial Mortgage-Backed Securities		—			527,169			—		527,169
Asset-Backed Securities (including CDOs)		—			6,645,629			—		6,645,629
Foreign Bonds		—			28,600,714			—		28,600,714
Mutual Funds		13,069,580			—			—		13,069,580
Total Investments		$13,069,580			$106,435,640			$—		$119,505,220

Other Financial Instruments
Futures Contracts		$(611,442	)		$446,656			$—		$(164,786	)
Forward Foreign Currency Exchange Contracts		—			(22,734	)		—		(22,734	)

For further information regarding security characteristics, see the Portfolio of Investments.

Supplemental Information (unaudited) – continued

(2) Portfolio Securities

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


Aggregate cost	$119,196,150
Gross unrealized appreciation	1,263,426
Gross unrealized depreciation	(954,356	)
Net unrealized appreciation (depreciation)	$309,070

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

(3) Transactions in Underlying Affiliated Funds – Affiliated Issuers


Underlying Affiliated Fund	Beginning Shares/Par Amount		Acquisitions Shares/Par Amount		Dispositions Shares/Par Amount			Ending Shares/Par Amount
MFS Institutional Money Market Portfolio		12,620,529		9,937,554		(9,488,503	)		13,069,580

Underlying Affiliated Fund	Realized Gain (Loss)		Capital Gain Distributions		Dividend Income			Ending Value
MFS Institutional Money Market Portfolio		$—		$—		$4,306			$13,069,580

(4) Issuer Country Weightings

Issuer country weighting percentages of portfolio holdings based on net assets, as of August 31, 2012, are as follows:


United States			67.0%
France			6.9%
Ausrtalia			6.8%
United Kingdom			5.8%
Netherlands			2.8%
Brazil			2.7%
Italy			2.4%
Canada			(2.9)%
Japan			(6.2)%
Other Countries			14.7%

The issuer country weighting percentages include both accrued interest amounts and the equivalent exposure from any derivative holdings, if applicable.

ITEM 2.

CONTROLS AND PROCEDURES.

(a)

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

(b)

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

ITEM 3.

EXHIBITS.

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

Notice

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

SIGNATURES

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

Registrant: MFS SERIES TRUST X


By (Signature and Title)*		JOHN M. CORCORAN
		John M. Corcoran, President

Date: October 17, 2012

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)*

JOHN M. CORCORAN

John M. Corcoran, President

(Principal Executive Officer)

Date: October 17, 2012

By (Signature and Title)*

DAVID L. DILORENZO

David L. DiLorenzo, Treasurer

(Principal Financial Officer

and Accounting Officer)

Date: October 17, 2012

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