Quarterly Report

February 29, 2024

MFS^® Growth Allocation Fund

GRO-Q3

Portfolio of Investments

2/29/24 (unaudited)

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

Issuer	Shares/Par	Value ($)
Investment Companies (h) – 100.0%
Bond Funds – 18.9%
MFS Emerging Markets Debt Fund - Class R6	16,375,098	$194,208,663
MFS Emerging Markets Debt Local Currency Fund - Class R6	22,799,772	127,222,728
MFS Global Opportunistic Bond Fund - Class R6	23,862,168	191,135,964
MFS High Income Fund - Class R6	84,012,279	255,397,329
MFS Inflation-Adjusted Bond Fund - Class R6	34,336,471	310,058,327
MFS Total Return Bond Fund - Class R6	16,241,052	152,341,070
		$1,230,364,081
International Stock Funds – 19.9%
MFS Emerging Markets Equity Fund - Class R6	4,092,589	$130,103,424
MFS International Growth Fund - Class R6	4,727,252	195,471,886
MFS International Intrinsic Value Fund - Class R6	5,083,279	194,791,252
MFS International Large Cap Value Fund - Class R6	14,656,034	191,407,806
MFS International New Discovery Fund - Class R6	4,129,206	129,120,264
MFS Research International Fund - Class R6	20,346,749	453,732,494
		$1,294,627,126
Non-Traditional Funds – 7.8%
MFS Commodity Strategy Fund - Class R6	72,810,451	$250,467,951
MFS Global Real Estate Fund - Class R6	15,631,049	255,567,649
		$506,035,600
U.S. Stock Funds – 51.3%
MFS Growth Fund - Class R6	3,133,049	$615,550,048
MFS Mid Cap Growth Fund - Class R6 (a)	18,900,109	600,834,461
MFS Mid Cap Value Fund - Class R6	18,609,087	594,002,075
MFS New Discovery Fund - Class R6 (a)	4,309,188	131,731,890
MFS New Discovery Value Fund - Class R6	7,276,765	127,561,683
MFS Research Fund - Class R6	10,697,320	608,035,672
MFS Value Fund - Class R6	13,286,541	653,432,071
		$3,331,147,900
Money Market Funds – 2.1%
MFS Institutional Money Market Portfolio, 5.37% (v)	136,022,820	$136,022,821
Total Investment Companies		$6,498,197,528
Other Assets, Less Liabilities – 0.0%		2,445,592
Net Assets – 100.0%		$6,500,643,120

(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 $6,498,197,528.
(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.

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Supplemental Information

2/29/24 (unaudited)

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

(1) Investment Valuations

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. 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 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

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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 29, 2024 in valuing the fund's assets and liabilities:

Financial Instruments	Level 1	Level 2	Level 3	Total
Mutual Funds	$6,498,197,528	$—	$—	$6,498,197,528

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	$211,054,840	$61,214,964	$26,979,780	$(13,822,690)	$19,000,617	$250,467,951
MFS Emerging Markets Debt Fund	179,174,808	16,426,495	8,876,030	(3,043,694)	10,527,084	194,208,663
MFS Emerging Markets Debt Local Currency Fund	120,912,054	9,119,086	4,262,597	(2,005,010)	3,459,195	127,222,728
MFS Emerging Markets Equity Fund	118,373,563	11,728,992	4,248,937	(1,299,581)	5,549,387	130,103,424
MFS Global Opportunistic Bond Fund	179,462,474	18,470,190	9,576,055	(3,143,417)	5,922,772	191,135,964
MFS Global Real Estate Fund	224,095,810	32,958,435	17,138,796	(696,565)	16,348,765	255,567,649
MFS Growth Fund	633,222,274	28,780,841	185,365,662	80,224,352	58,688,243	615,550,048
MFS High Income Fund	241,148,978	23,943,567	17,495,320	(3,467,617)	11,267,721	255,397,329
MFS Inflation-Adjusted Bond Fund	295,095,902	42,478,079	14,945,001	(4,268,004)	(8,302,649)	310,058,327
MFS Institutional Money Market Portfolio	10,042,546	262,632,510	136,640,839	(269)	(11,127)	136,022,821
MFS International Growth Fund	180,566,624	10,056,440	6,374,120	266,605	10,956,337	195,471,886
MFS International Intrinsic Value Fund	180,305,609	21,322,381	5,611,822	(832,356)	(392,560)	194,791,252
MFS International Large Cap Value Fund	177,949,139	9,494,683	5,279,316	(347,016)	9,590,316	191,407,806
MFS International New Discovery Fund	118,837,289	10,388,198	3,672,915	(826,315)	4,394,007	129,120,264
MFS Mid Cap Growth Fund	540,646,144	5,950,065	71,913,839	(2,067,910)	128,220,001	600,834,461
MFS Mid Cap Value Fund	512,440,451	30,057,455	33,827,721	1,496,503	83,835,387	594,002,075
MFS New Discovery Fund	114,245,588	6,920,271	9,526,233	(3,655,469)	23,747,733	131,731,890
MFS New Discovery Value Fund	110,266,464	16,191,664	8,654,400	54,592	9,703,363	127,561,683
MFS Research Fund	611,311,117	40,384,688	127,888,682	(10,722,954)	94,951,503	608,035,672
MFS Research International Fund	416,998,795	16,039,281	7,724,754	(19,925)	28,439,097	453,732,494
MFS Total Return Bond Fund	179,349,405	14,980,741	40,234,350	(9,866,898)	8,112,172	152,341,070
MFS Value Fund	577,158,788	56,435,685	28,595,412	(161,639)	48,594,649	653,432,071
	$5,932,658,662	$745,974,711	$774,832,581	$21,794,723	$572,602,013	$6,498,197,528

Affiliated Issuers	Dividend Income	Capital Gain Distributions
MFS Commodity Strategy Fund	$5,121,267	$—
MFS Emerging Markets Debt Fund	9,078,308	—
MFS Emerging Markets Debt Local Currency Fund	4,880,525	—
MFS Emerging Markets Equity Fund	3,315,045	—
MFS Global Opportunistic Bond Fund	4,778,637	—
MFS Global Real Estate Fund	5,152,099	—
MFS Growth Fund	—	28,006,657
MFS High Income Fund	11,590,049	—
MFS Inflation-Adjusted Bond Fund	11,707,247	—
MFS Institutional Money Market Portfolio	1,889,409	—
MFS International Growth Fund	3,265,417	2,171,736
MFS International Intrinsic Value Fund	3,834,665	17,045,935
MFS International Large Cap Value Fund	6,643,351	1,161,445
MFS International New Discovery Fund	2,474,955	2,774,258

3

Supplemental Information (unaudited) – continued

Affiliated Issuers − continued	Dividend Income	Capital Gain Distributions
MFS Mid Cap Growth Fund	$—	$—
MFS Mid Cap Value Fund	9,131,233	8,066,653
MFS New Discovery Fund	—	—
MFS New Discovery Value Fund	3,549,566	4,457,701
MFS Research Fund	5,007,656	35,053,147
MFS Research International Fund	8,191,181	—
MFS Total Return Bond Fund	5,803,015	—
MFS Value Fund	8,956,459	39,587,257
	$114,370,084	$138,324,789

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