0001752724-23-084427.txt : 20230424 0001752724-23-084427.hdr.sgml : 20230424 20230424091639 ACCESSION NUMBER: 0001752724-23-084427 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20230228 FILED AS OF DATE: 20230424 DATE AS OF CHANGE: 20230424 PERIOD START: 20230531 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MFS SERIES TRUST X CENTRAL INDEX KEY: 0000783740 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-04492 FILM NUMBER: 23838075 BUSINESS ADDRESS: STREET 1: 111 HUNTINGTON AVENUE STREET 2: 21ST FLOOR CITY: BOSTON STATE: MA ZIP: 02199 BUSINESS PHONE: 18006372929 MAIL ADDRESS: STREET 1: 111 HUNTINGTON AVENUE STREET 2: 21ST FLOOR CITY: BOSTON STATE: MA ZIP: 02199 FORMER COMPANY: FORMER CONFORMED NAME: MFS GOVERNMENT MORTGAGE FUND DATE OF NAME CHANGE: 19930408 FORMER COMPANY: FORMER CONFORMED NAME: MFS GOVERNMENT INCOME PLUS FUND DATE OF NAME CHANGE: 19930312 FORMER COMPANY: FORMER CONFORMED NAME: MASSACHUSETTS MFS GOVERNMENT INCOME PLUS FUND DATE OF NAME CHANGE: 19921015 0000783740 S000002506 MFS Aggressive Growth Allocation Fund C000006838 A MAAGX C000006839 R4 MAALX C000006843 B MBAGX C000006844 C MCAGX C000006845 I MIAGX C000006847 R1 MAAFX C000006849 R2 MAWAX C000006850 R3 MAAHX C000231058 R6 AGGPX NPORT-P 1 primary_doc.xml NPORT-P false 0000783740 XXXXXXXX S000002506 C000006845 C000006838 C000006843 C000006849 C000006847 C000006844 C000006850 C000006839 C000231058 MFS SERIES TRUST X 811-04492 0000783740 5493001MUVNRNUPJY164 111 HUNTINGTON AVENUE BOSTON 02199 617-954-5000 MFS Aggressive Growth Allocation Fund S000002506 549300UEFZYWREX0YF53 2023-05-31 2023-02-28 N 2409807612.71 1223321.07 2408584291.64 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N MFS Research International Fund UH91KW1VFNZQF5FY7237 MFS Research International Fund 55273H361 9542625.40000000 NS USD 196005525.72000000 8.137789754766 Long EC RF US N 1 N N N MFS Emerging Markets Equity Fund GLINMRWNKCBOHYKQ2131 MFS Emerging Markets Equity Fund 552746331 2367728.44900000 NS USD 71955267.57000000 2.987450670493 Long EC RF US N 1 N N N MFS Growth Fund K4ZYIH3WSXKUSPKIPM59 MFS Growth Fund 552985673 2045750.91500000 NS USD 283786566.93000000 11.78229750625 Long EC RF US N 1 N N N MFS International New Discovery Fund RC53GXLQZ5LVIZBRHR66 MFS International New Discovery Fund 552981383 3253484.84800000 NS USD 98060033.32000000 4.071272641790 Long EC RF US N 1 N N N MFS New Discovery Value Fund LRMRW30Z8FYTIFW1W860 MFS New Discovery Value Fund 552982696 3411928.40600000 NS USD 62335931.98000000 2.588073508424 Long EC RF US N 1 N N N MFS International Intrinsic Value Fund 7540QFSKYNTDFH7HAK24 MFS International Intrinsic Value Fund 552746349 3267592.58900000 NS USD 122992185.05000000 5.106409830741 Long EC RF US N 1 N N N MFS Mid Cap Growth Fund XPX0WXKIO6CLKBLYF666 MFS Mid Cap Growth Fund 552987554 9603075.02700000 NS USD 241421306.18000000 10.02336962081 Long EC RF US N 1 N N N MFS Global Real Estate Fund ROYDM6SL56ZXYAENS860 MFS Global Real Estate Fund 552982720 7393659.86700000 NS USD 119333670.25000000 4.954515009675 Long EC RF US N 1 N N N MFS New Discovery Fund ZVEMRLDGMDO1D1VDSU87 MFS New Discovery Fund 55273H346 2221256.70000000 NS USD 61373322.62000000 2.548107734199 Long EC RF US N 1 N N N MFS Institutional Money Market Portfolio 5L2W638H85N8T1136O07 MFS Institutional Money Market Portfolio 55291X109 2798631.55000000 NS USD 2798631.55000000 0.116194046424 Long STIV RF US N 1 N N N MFS International Large Cap Value Fund 549300YEW2NKJCMQAR75 MFS International Large Cap Value Fund 552743445 10007650.10100000 NS USD 125195702.76000000 5.197895842572 Long EC RF US N 1 N N N MFS Research Fund XFPOOG2XVG5TW1LZ8588 MFS Research Fund 552981391 5526468.98000000 NS USD 260738806.48000000 10.82539678536 Long EC RF US N 1 N N N MFS Value Fund HV6C0RMURVKFUQ3UTB42 MFS Value Fund 55273H353 6063120.49400000 NS USD 284542244.78000000 11.81367186390 Long EC RF US N 1 N N N MFS Commodity Strategy Fund T0OEQ8I3F6DXUJCOV412 MFS Commodity Strategy Fund 55276T826 30979938.13100000 NS USD 111837576.65000000 4.643290958849 Long EC RF US N 1 N N N MFS Mid Cap Value Fund BXHSCSBXYY1DOHP6E209 MFS Mid Cap Value Fund 55273W475 8329925.65600000 NS USD 244233420.23000000 10.14012343590 Long EC RF US N 1 N N N MFS International Growth Fund PTNAY8DC4VJYOKVJ5B83 MFS International Growth Fund 552746356 3252610.18900000 NS USD 121647621.07000000 5.050586001587 Long EC RF US N 1 N N N 2023-03-20 MFS SERIES TRUST X Kasey Phillips Kasey Phillips Assistant Treasurer XXXX GRAPHIC 2 img393887422.gif begin 644 img393887422.gif M1TE&.#EA[@(9 / ((M0@ "'Y! 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Quarterly Report
February 28, 2023
MFS®  Aggressive Growth Allocation Fund
AGG-Q3
Portfolio of Investments
2/28/23 (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 ($)
Investment Companies (h) – 100.0%
International Stock Funds – 30.5%
MFS Emerging Markets Equity Fund - Class R6     2,367,875 $71,959,710
MFS International Growth Fund - Class R6     3,250,166 121,556,211
MFS International Intrinsic Value Fund - Class R6     3,262,874 122,814,561
MFS International Large Cap Value Fund - Class R6     9,982,157 124,876,790
MFS International New Discovery Fund - Class R6     3,249,480 97,939,332
MFS Research International Fund - Class R6     9,531,230 195,771,468
        $734,918,072
Specialty Funds – 9.6%
MFS Commodity Strategy Fund - Class R6     31,026,806 $112,006,770
MFS Global Real Estate Fund - Class R6     7,394,852 119,352,913
        $231,359,683
U.S. Stock Funds – 59.8%
MFS Growth Fund - Class R6     2,046,461 $283,885,044
MFS Mid Cap Growth Fund - Class R6 (a)     9,600,582 241,358,643
MFS Mid Cap Value Fund - Class R6     8,321,639 243,990,444
MFS New Discovery Fund - Class R6     2,218,327 61,292,383
MFS New Discovery Value Fund - Class R6     3,404,120 62,193,270
MFS Research Fund - Class R6     5,528,127 260,817,052
MFS Value Fund - Class R6     6,064,897 284,625,604
        $1,438,162,440
Money Market Funds – 0.1%  
MFS Institutional Money Market Portfolio, 4.55% (v)     2,806,906 $2,806,906
Total Investment Companies $2,407,247,101
 
Other Assets, Less Liabilities – 0.0%   321,023
Net Assets – 100.0% $2,407,568,124
(a) Non-income producing security.      
(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end, the aggregate value of the fund’s investments in affiliated issuers was $2,407,247,101.      
(v) Affiliated issuer that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.      
See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.
1
Supplemental Information
2/28/23 (unaudited)
The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.
(1) Investment Valuations
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” also refers to the underlying funds in which the fund-of-funds invests.
Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund’s investments to MFS as the fund's adviser, pursuant to the fund’s valuation policy and procedures which have been adopted by the adviser and approved by the Board. Effective September 8, 2022, and in accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the “valuation designee” of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser’s fair valuation policy and procedures.
Under the fund's valuation policy and procedures, equity securities, including restricted equity securities and equity securities sold short, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Equity securities sold short, for which there were no sales reported that day, are generally valued at the last quoted daily ask quotation on their primary market or exchange as provided by a third-party pricing service.
Debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Debt instruments sold short are generally valued at an evaluated or composite mean as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Exchange-traded options are generally valued at the last sale or official closing price on their primary exchange as provided by a third-party pricing service. Exchange-traded options for which there were no sales reported that day are generally valued at the last daily bid quotation on their primary exchange as provided by a third-party pricing service. For put options, the position may be valued at the last daily ask quotation if there are no trades reported during the day. Options not traded on an exchange are generally valued at a broker/dealer bid quotation. Foreign currency options are generally valued at valuations provided by a third-party pricing service. Futures contracts are generally valued at last posted settlement price on their primary exchange as provided by a third-party pricing service. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation on their primary exchange as provided by a third-party pricing service. Forward foreign currency exchange contracts are generally valued at the mean of bid and asked prices for the time period interpolated from rates provided by a third-party pricing service for proximate time periods. Swap agreements are generally valued using valuations provided by a third-party pricing service, which for cleared swaps includes an evaluation of any trading activity at the clearinghouses. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.
Under the fund’s valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser’s fair valuation policy and procedures. Securities and other assets, 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. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment’s value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund’s net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund’s net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund’s foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund’s net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund’s net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.
Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other
2
Supplemental Information (unaudited) – continued
significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of February 28, 2023 in valuing the fund's assets and liabilities:
Financial Instruments Level 1 Level 2 Level 3 Total
Mutual Funds $2,407,247,101 $— $— $2,407,247,101
For further information regarding security characteristics, see the Portfolio of Investments. Please refer to the underlying funds’ shareholder reports for further information regarding the levels used in valuing the underlying funds’ assets and liabilities.
(2) Investments in Affiliated Issuers
An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the following were affiliated issuers:
Affiliated Issuers Beginning
Value 		Purchases Sales
Proceeds 		Realized
Gain
(Loss) 		Change in
Unrealized
Appreciation or
Depreciation 		Ending
Value
MFS Commodity Strategy Fund $128,366,427 $37,825,018 $4,261,377 $(120,977) $(49,802,321) $112,006,770
MFS Emerging Markets Equity Fund 74,019,796 5,693,969 3,779,534 (1,399,925) (2,574,596) 71,959,710
MFS Global Real Estate Fund 122,877,985 16,398,549 281,622 (44,247) (19,597,752) 119,352,913
MFS Growth Fund 285,251,490 21,051,747 2,451,375 (599,936) (19,366,882) 283,885,044
MFS Institutional Money Market Portfolio 3,096,144 64,007,889 64,295,208 (1,874) (45) 2,806,906
MFS International Growth Fund 122,862,802 6,082,366 6,310,713 (1,000,286) (77,958) 121,556,211
MFS International Intrinsic Value Fund 121,197,148 20,589,005 4,911,265 (1,870,042) (12,190,285) 122,814,561
MFS International Large Cap Value Fund 123,538,274 8,914,162 8,755,468 (1,140,812) 2,320,634 124,876,790
MFS International New Discovery Fund 97,747,463 8,863,136 3,290,479 (1,179,299) (4,201,489) 97,939,332
MFS Mid Cap Growth Fund 237,643,119 5,981,603 3,620,629 (1,053,974) 2,408,524 241,358,643
MFS Mid Cap Value Fund 250,933,890 13,103,582 7,637,730 1,386,356 (13,795,654) 243,990,444
MFS New Discovery Fund 59,162,678 2,248,389 1,555,578 (1,054,083) 2,490,977 61,292,383
MFS New Discovery Value Fund 62,354,074 5,143,383 2,215,254 (232,984) (2,855,949) 62,193,270
MFS Research Fund 272,828,655 22,456,657 7,439,196 (1,371,561) (25,657,503) 260,817,052
MFS Research International Fund 196,713,758 11,324,127 8,820,887 (1,643,978) (1,801,552) 195,771,468
MFS Value Fund 299,536,142 21,258,003 13,127,425 2,128,510 (25,169,626) 284,625,604
  $2,458,129,845 $270,941,585 $142,753,740 $(9,199,112) $(169,871,477) $2,407,247,101
Affiliated Issuers Dividend
Income 		Capital Gain
Distributions
MFS Commodity Strategy Fund $23,983,905 $—
MFS Emerging Markets Equity Fund 972,585 —
MFS Global Real Estate Fund 749,445 5,775,274
MFS Growth Fund — 2,751,812
MFS Institutional Money Market Portfolio 53,061 —
MFS International Growth Fund 1,464,464 2,146,062
MFS International Intrinsic Value Fund 1,360,670 14,338,911
MFS International Large Cap Value Fund 2,295,377 1,254,279
MFS International New Discovery Fund 846,240 4,545,258
MFS Mid Cap Growth Fund — —
MFS Mid Cap Value Fund 4,401,860 7,808,482
MFS New Discovery Fund 51,063 —
MFS New Discovery Value Fund 1,592,878 3,060,333
MFS Research Fund 2,592,341 16,100,300
MFS Research International Fund 3,394,293 —
MFS Value Fund 4,563,902 15,313,170
  $48,322,084 $73,093,881
3
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