N-Q 1 d26400dnq.htm MFS INTERMEDIATE INCOME TRUST N-Q MFS INTERMEDIATE INCOME TRUST 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 811-05440

MFS INTERMEDIATE INCOME TRUST

(Exact name of registrant as specified in charter)

111 Huntington Avenue, Boston, Massachusetts 02199

(Address of principal executive offices) (Zip code)

Kristin V. Collins

Massachusetts Financial Services Company

111 Huntington Avenue

Boston, Massachusetts 02199

(Name and address of agents for service)

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

Date of fiscal year end: October 31

Date of reporting period: January 31, 2016


ITEM 1. SCHEDULE OF INVESTMENTS.


QUARTERLY REPORT

January 31, 2016

 

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MFS® INTERMEDIATE INCOME TRUST

 

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PORTFOLIO OF INVESTMENTS

1/31/16 (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 - 98.7%                 
Asset-Backed & Securitized - 5.7%                 
AmeriCredit Automobile Receivables Trust, 2015-3, “A2A”, 1.07%, 1/08/19    $ 1,690,000      $ 1,687,653   
Babson Ltd., CLO, “A1”, FRN, 0.844%, 1/18/21 (n)      456,987        450,261   
Chesapeake Funding LLC, 2015-1A, “A”, FRN, 0.922%, 2/07/27 (n)      4,260,000        4,246,443   
Commercial Mortgage Acceptance Corp., FRN, 2.261%, 9/15/30 (i)      1,351,573        15,423   
Credit Acceptance Auto Loan Trust, 2015-2A, “A”, 2.4%, 2/15/23 (n)      2,126,000        2,128,325   
Credit Suisse Commercial Mortgage Trust, “A4”, FRN, 6.146%, 9/15/39      921,082        958,856   
Credit Suisse Mortgage Capital Certificate, 5.695%, 9/15/40      1,772,146        1,838,615   
CWCapital Cobalt Ltd., “A4”, FRN, 5.956%, 5/15/46      1,191,636        1,239,003   
DT Auto Owner Trust, 0.98%, 4/16/18 (n)      496,515        495,623   
Exeter Automobile Receivables Trust, 2015-2A, “A”, 1.54%, 11/15/19 (n)      2,043,641        2,037,807   
Falcon Franchise Loan LLC, FRN, 6.622%, 1/05/23 (i)(z)      557,308        22,292   
Ford Credit Auto Owner Trust, 2014-1,“A”, 2.26%, 11/15/25 (n)      339,000        343,523   
Ford Credit Auto Owner Trust, 2014-2,“A”, 2.31%, 4/15/26 (n)      1,247,000        1,263,784   
Ford Credit Floorplan Master Owner Trust, 2015-1, “A2”, FRN, 0.825%, 1/15/20      2,470,000        2,459,342   
GE Dealer Floorplan Master Note Trust, 2014-1, “A”, FRN, 0.806%, 7/20/19      2,270,000        2,267,517   
GM Financial Automobile Leasing Trust, 2014-2A, “A2”, 0.73%, 2/20/17 (n)      565,490        565,010   
GO Financial Auto Securitization Trust, 2015-1, “A”, 1.81%, 3/15/18 (n)      672,231        671,499   
GO Financial Auto Securitization, Trust, 2015-2, “A”, 3.27%, 11/15/18 (z)      1,267,832        1,267,195   
JPMorgan Chase Commercial Mortgage Securities Corp., 5.42%, 1/15/49      1,868,580        1,906,842   
Kingsland III Ltd., “A1”, CDO, FRN, 0.597%, 8/24/21 (n)      568,943        565,949   
Kubota Credit Owner Trust, 2015-1A, “A2”, 0.94%, 12/15/17 (n)      1,694,783        1,692,848   
Motor PLC, 2014-1A, “A1”, FRN, 0.906%, 8/25/21 (n)      396,200        395,889   
Nextgear Floorplan Master Owner Trust, 2015-1A, “A”, 1.8%, 7/15/19 (n)      1,301,000        1,300,232   
Sierra Receivables Funding Co. LLC, 2015-1A, “A”, 2.4%, 3/22/32 (n)      1,263,261        1,263,638   
Suntrust Auto Receivables Trust, 0.99%, 6/15/18 (n)      2,265,063        2,265,063   
    

 

 

 
      $ 33,348,632   
Automotive - 5.2%                 
American Honda Finance Corp., FRN, 1.019%, 9/20/17    $ 1,960,000      $ 1,960,488   
American Honda Finance Corp., FRN, 0.781%, 5/26/16 (n)      2,000,000        2,001,812   
American Honda Finance Corp., FRN, 1.117%, 10/07/16      790,000        791,637   
Daimler Finance North America LLC, 1.875%, 1/11/18 (n)      3,640,000        3,629,018   
Daimler Finance North America LLC, 1.65%, 5/18/18 (n)      3,000,000        2,963,658   
Ford Motor Credit Co. LLC, 4.207%, 4/15/16      1,970,000        1,981,790   
Ford Motor Credit Co. LLC, FRN, 0.982%, 9/08/17      800,000        786,906   
Ford Motor Credit Co. LLC, FRN, 1.556%, 1/09/18      1,670,000        1,651,982   
Harley-Davidson Financial Services, Inc., 3.875%, 3/15/16 (n)      2,880,000        2,890,696   
Hyundai Capital America, 1.875%, 8/09/16 (n)      1,590,000        1,595,369   
Hyundai Capital America, 2%, 3/19/18 (n)      2,313,000        2,304,592   
Hyundai Capital America, 2.4%, 10/30/18 (n)      1,480,000        1,482,402   
Nissan Motor Acceptance Corp., FRN, 1.303%, 9/26/16 (n)      2,520,000        2,520,053   
Nissan Motor Acceptance Corp., FRN, 0.972%, 3/03/17 (n)      1,340,000        1,336,947   
Volkswagen Group of America Finance LLC, 1.65%, 5/22/18 (n)      2,310,000        2,230,642   
    

 

 

 
      $ 30,127,992   
Broadcasting - 0.2%                 
SES Global Americas Holdings GP, 2.5%, 3/25/19 (n)    $ 910,000      $ 906,224   
Brokerage & Asset Managers - 1.1%                 
CME Group, Inc., 3%, 3/15/25    $ 1,879,000      $ 1,888,513   
Franklin Resources, Inc., 1.375%, 9/15/17      588,000        588,188   
Intercontinental Exchange, Inc., 2.75%, 12/01/20      2,388,000        2,426,017   

 

1


Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Brokerage & Asset Managers - continued                 
NYSE Euronext, 2%, 10/05/17    $ 1,558,000      $ 1,569,535   
    

 

 

 
      $ 6,472,253   
Building - 0.2%                 
CRH PLC, 8.125%, 7/15/18    $ 1,160,000      $ 1,322,728   
Business Services - 0.6%                 
Cisco Systems, Inc., FRN, 0.702%, 3/03/17    $ 2,730,000      $ 2,730,620   
Fidelity National Information Services, Inc., 2.85%, 10/15/18      665,000        672,013   
    

 

 

 
      $ 3,402,633   
Cable TV - 1.0%                 
Cox Communications, Inc., 3.25%, 12/15/22 (n)    $ 2,925,000      $ 2,729,496   
Time Warner Cable, Inc., 4%, 9/01/21      2,770,000        2,820,627   
    

 

 

 
      $ 5,550,123   
Chemicals - 0.9%                 
Chevron Phillips Chemical Co. LLC, 1.7%, 5/01/18 (n)    $ 1,810,000      $ 1,778,879   
Dow Chemical Co., 8.55%, 5/15/19      2,490,000        2,913,459   
LyondellBasell Industries N.V., 5%, 4/15/19      690,000        728,089   
    

 

 

 
      $ 5,420,427   
Computer Software - 0.5%                 
Microsoft Corp., 3.125%, 11/03/25    $ 3,110,000      $ 3,182,457   
Computer Software - Systems - 0.3%                 
Apple, Inc., FRN, 0.584%, 5/03/18    $ 1,560,000      $ 1,555,844   
Conglomerates - 0.4%                 
ABB Treasury Center (USA), Inc., 2.5%, 6/15/16 (n)    $ 1,655,000      $ 1,662,595   
General Electric Capital Corp., 6%, 8/07/19      338,000        385,714   
General Electric Capital Corp., 3.1%, 1/09/23      316,000        327,947   
    

 

 

 
      $ 2,376,256   
Consumer Products - 0.7%                 
Newell Rubbermaid, Inc., 2.875%, 12/01/19    $ 1,530,000      $ 1,498,519   
Reckitt Benckiser Treasury Services PLC, 3.625%, 9/21/23 (n)      2,274,000        2,353,358   
    

 

 

 
      $ 3,851,877   
Consumer Services - 0.5%                 
Experian Finance PLC, 2.375%, 6/15/17 (n)    $ 1,154,000      $ 1,152,361   
Priceline Group, Inc., 3.65%, 3/15/25      1,879,000        1,862,072   
    

 

 

 
      $ 3,014,433   
Defense Electronics - 0.3%                 
BAE Systems Holdings, Inc., 6.375%, 6/01/19 (n)    $ 1,400,000      $ 1,577,702   
Electrical Equipment - 0.6%                 
Amphenol Corp., 1.55%, 9/15/17    $ 890,000      $ 888,025   
Arrow Electronics, Inc., 3%, 3/01/18      742,000        746,988   
Molex Electronic Technologies LLC, 2.878%, 4/15/20 (n)      1,703,000        1,690,636   
    

 

 

 
      $ 3,325,649   

 

2


Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Electronics - 0.3%                 
Lam Research Corp., 2.75%, 3/15/20    $ 1,152,000      $ 1,137,313   
Tyco Electronics Group S.A., 2.375%, 12/17/18      623,000        624,448   
    

 

 

 
      $ 1,761,761   
Emerging Market Quasi-Sovereign - 2.3%                 
CNPC (HK) Overseas Capital Ltd., 4.5%, 4/28/21 (n)    $ 1,090,000      $ 1,164,617   
Corporacion Financiera de Desarrollo S.A., 3.25%, 7/15/19 (n)      1,337,000        1,333,658   
Corporacion Financiera de Desarrollo S.A., 4.75%, 2/08/22 (n)      228,000        231,922   
Corporacion Nacional del Cobre de Chile, 3.75%, 11/04/20 (n)      840,000        839,110   
Empresa Nacional del Petroleo, 6.25%, 7/08/19      723,000        774,809   
Korea Gas Corp., 2.25%, 7/25/17 (n)      1,630,000        1,642,869   
Petroleos Mexicanos, 6%, 3/05/20      2,970,000        3,021,975   
Ras Laffan Liquefied Natural Gas Co. Ltd., 6.75%, 9/30/19 (n)      1,584,000        1,792,721   
Sinopec Capital (2013) Ltd., 3.125%, 4/24/23 (n)      1,466,000        1,416,586   
State Grid International Development Co. Ltd., 1.75%, 5/22/18 (n)      1,330,000        1,323,467   
    

 

 

 
      $ 13,541,734   
Emerging Market Sovereign - 1.0%                 
Republic of Poland, 5%, 3/23/22    $ 772,000      $ 853,075   
Republic of Slovakia, 4.375%, 5/21/22 (n)      2,960,000        3,311,204   
United Mexican States, 3.625%, 3/15/22      1,754,000        1,762,770   
    

 

 

 
      $ 5,927,049   
Energy - Independent - 0.5%                 
Anadarko Petroleum Corp., 6.375%, 9/15/17    $ 1,700,000      $ 1,717,104   
Hess Corp., 8.125%, 2/15/19      1,230,000        1,267,853   
    

 

 

 
      $ 2,984,957   
Energy - Integrated - 1.8%                 
BG Energy Capital PLC, 2.875%, 10/15/16 (n)    $ 2,320,000      $ 2,340,147   
BP Capital Markets PLC, 4.5%, 10/01/20      853,000        910,745   
BP Capital Markets PLC, 4.742%, 3/11/21      1,810,000        1,956,659   
LUKOIL International Finance B.V., 3.416%, 4/24/18 (n)      1,619,000        1,584,596   
LUKOIL International Finance B.V., 4.563%, 4/24/23 (n)      2,192,000        1,986,500   
Petro-Canada, 6.05%, 5/15/18      904,000        942,256   
Total Capital International S.A., 1.5%, 2/17/17      1,000,000        1,000,220   
    

 

 

 
      $ 10,721,123   
Financial Institutions - 0.7%                 
GE Capital International Funding Co., 2.342%, 11/15/20 (n)    $ 984,000      $ 987,604   
GE Capital International Funding Co., 3.373%, 11/15/25 (n)      820,000        843,163   
LeasePlan Corp. N.V., 3%, 10/23/17 (n)      1,970,000        1,985,094   
LeasePlan Corp. N.V., 2.5%, 5/16/18 (n)      466,000        461,533   
    

 

 

 
      $ 4,277,394   
Food & Beverages - 4.6%                 
Anheuser-Busch InBev Finance, Inc., 2.65%, 2/01/21    $ 6,000,000      $ 6,036,672   
Anheuser-Busch InBev Worldwide, Inc., 3.3%, 2/01/23      2,308,000        2,342,521   
Coca-Cola Bottling Co. Consolidated, 3.8%, 11/25/25      3,120,000        3,189,510   
Diageo Capital PLC, 1.5%, 5/11/17      1,530,000        1,532,953   
Grupo Bimbo S.A.B. de C.V., 4.5%, 1/25/22 (n)      290,000        300,131   
H.J. Heinz Co., 1.6%, 6/30/17 (n)      2,090,000        2,089,592   
Kerry Group Financial Services, 3.2%, 4/09/23 (n)      2,850,000        2,757,697   
Kraft Foods Group, Inc., 6.125%, 8/23/18      2,380,000        2,619,188   
Mead Johnson Nutrition Co., 3%, 11/15/20      669,000        679,052   
Tyson Foods, Inc., 4.5%, 6/15/22      1,447,000        1,552,491   

 

3


Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Food & Beverages - continued                 
Want Want China Finance Co., 1.875%, 5/14/18 (n)    $ 1,430,000      $ 1,410,300   
Wm. Wrigley Jr. Co., 2.4%, 10/21/18 (n)      613,000        618,194   
Wm. Wrigley Jr. Co., 3.375%, 10/21/20 (n)      1,876,000        1,932,257   
    

 

 

 
      $ 27,060,558   
Food & Drug Stores - 0.8%                 
CVS Health Corp., 3.875%, 7/20/25    $ 2,800,000      $ 2,894,055   
Walgreens Boots Alliance, Inc., 3.3%, 11/18/21      1,522,000        1,522,307   
    

 

 

 
      $ 4,416,362   
Gaming & Lodging - 0.8%                 
Wyndham Worldwide Corp., 2.95%, 3/01/17    $ 1,686,000      $ 1,697,539   
Wyndham Worldwide Corp., 5.625%, 3/01/21      2,890,000        3,105,747   
    

 

 

 
      $ 4,803,286   
Industrial - 0.5%                 
Princeton University, 4.95%, 3/01/19    $ 2,860,000      $ 3,153,516   
Insurance - 2.1%                 
AIA Group Ltd., 3.2%, 3/11/25 (n)    $ 1,432,000      $ 1,412,900   
American International Group, Inc., 3.75%, 7/10/25      2,808,000        2,693,369   
Metropolitan Life Global Funding I, 2%, 4/14/20 (n)      1,600,000        1,574,715   
Principal Financial Group, Inc., 8.875%, 5/15/19      2,230,000        2,659,215   
Unum Group, 4%, 3/15/24      2,863,000        2,887,510   
Voya Financial, Inc., 2.9%, 2/15/18      1,141,000        1,157,444   
    

 

 

 
      $ 12,385,153   
Insurance - Health - 0.5%                 
UnitedHealth Group, Inc., 3.75%, 7/15/25    $ 2,800,000      $ 2,913,898   
Insurance - Property & Casualty - 2.0%                 
Allied World Assurance Co. Holdings Ltd., 4.35%, 10/29/25    $ 3,110,000      $ 3,095,781   
AXIS Capital Holdings Ltd., 5.875%, 6/01/20      1,610,000        1,788,617   
Liberty Mutual Group, Inc., 4.95%, 5/01/22 (n)      2,197,000        2,375,930   
Marsh & McLennan Cos., Inc., 2.35%, 9/10/19      1,260,000        1,264,501   
ZFS Finance USA Trust V, 6.5% to 5/09/17, FRN to 5/09/67 (n)      3,000,000        3,016,500   
    

 

 

 
      $ 11,541,329   
International Market Quasi-Sovereign - 1.9%                 
Bank Nederlandse Gemeenten N.V., 1.375%, 3/19/18 (n)    $ 1,746,000      $ 1,753,934   
Dexia Credit Local S.A., 2.25%, 1/30/19 (n)      3,280,000        3,322,876   
Electricite de France, 2.15%, 1/22/19 (n)      1,784,000        1,790,380   
Statoil A.S.A., 1.8%, 11/23/16      1,420,000        1,426,144   
Statoil A.S.A., FRN, 0.651%, 5/15/18      2,887,000        2,849,867   
    

 

 

 
      $ 11,143,201   
International Market Sovereign - 16.3%                 
Commonwealth of Australia, 5.75%, 5/15/21    AUD 3,836,000      $ 3,201,146   
Federal Republic of Germany, 3.25%, 7/04/21    EUR 1,200,000        1,547,836   
Federal Republic of Germany, 1.75%, 2/15/24    EUR 4,050,000        4,985,496   
Government of Canada, 4.25%, 6/01/18    CAD 505,000        392,299   
Government of Canada, 3.25%, 6/01/21    CAD 1,579,000        1,276,117   
Government of Canada, 2.5%, 6/01/24    CAD 2,343,000        1,856,187   
Government of Japan, 1.1%, 6/20/20    JPY 800,000,000        6,943,113   
Government of Japan, 0.8%, 6/20/23    JPY 340,000,000        2,981,126   
Government of Japan, 2.1%, 9/20/24    JPY 220,000,000        2,141,032   

 

4


Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
International Market Sovereign - continued                 
Government of New Zealand, 5.5%, 4/15/23    NZD 2,664,000      $ 2,015,659   
Government of Norway, 3.75%, 5/25/21    NOK 6,400,000        845,676   
Government of Norway, 3%, 3/14/24    NOK 7,844,000        1,024,953   
Kingdom of Belgium, 4.25%, 9/28/21    EUR 404,000        544,056   
Kingdom of Belgium, 2.6%, 6/22/24    EUR 2,845,000        3,632,618   
Kingdom of Denmark, 3%, 11/15/21    DKK 4,447,000        755,328   
Kingdom of Denmark, 1.5%, 11/15/23    DKK 4,198,000        664,219   
Kingdom of Spain, 5.5%, 7/30/17    EUR 711,000        833,468   
Kingdom of Spain, 4.6%, 7/30/19    EUR 4,110,000        5,130,237   
Kingdom of Spain, 5.4%, 1/31/23    EUR 1,925,000        2,695,736   
Kingdom of Sweden, 5%, 12/01/20    SEK 6,500,000        941,082   
Kingdom of Sweden, 3.5%, 6/01/22    SEK 4,235,000        594,217   
Kingdom of the Netherlands, 4%, 7/15/16    EUR 2,000,000        2,209,499   
Kingdom of the Netherlands, 2%, 7/15/24    EUR 1,251,000        1,550,145   
Republic of Austria, 1.75%, 10/20/23    EUR 210,000        253,668   
Republic of France, 2.5%, 10/25/20    EUR 1,500,000        1,829,093   
Republic of France, 5%, 10/25/16    EUR 9,214,000        10,373,704   
Republic of Iceland, 4.875%, 6/16/16 (n)    $ 702,000        712,545   
Republic of Italy, 5.25%, 8/01/17    EUR 11,388,000        13,311,267   
Republic of Italy, 3.75%, 3/01/21    EUR 2,600,000        3,274,951   
Republic of Italy, 5.5%, 9/01/22    EUR 2,969,000        4,172,666   
United Kingdom Treasury, 8%, 6/07/21    GBP 2,500,000        4,862,508   
United Kingdom Treasury, 2.25%, 9/07/23    GBP 4,750,000        7,202,199   
    

 

 

 
             $ 94,753,846   
Internet - 0.6%                 
Baidu, Inc., 3.25%, 8/06/18    $ 1,709,000      $ 1,742,014   
Baidu, Inc., 2.75%, 6/09/19      1,510,000        1,507,951   
    

 

 

 
             $ 3,249,965   
Machinery & Tools - 0.1%                 
Atlas Copco AB, 5.6%, 5/22/17 (n)    $ 510,000      $ 533,193   
Major Banks - 11.9%                 
ABN AMRO Bank N.V., 4.25%, 2/02/17 (n)    $ 1,997,000      $ 2,052,157   
ABN AMRO Bank N.V., 1.8%, 6/04/18 (n)      1,450,000        1,446,581   
ABN AMRO Bank N.V., FRN, 0.862%, 6/06/16 (n)      2,090,000        2,089,785   
Bank of America Corp., 6.5%, 8/01/16      1,420,000        1,456,913   
Bank of America Corp., 6.875%, 4/25/18      1,000,000        1,097,311   
Bank of America Corp., 4.125%, 1/22/24      2,876,000        2,955,763   
Barclays PLC, 3.25%, 1/12/21      2,308,000        2,318,852   
BNP Paribas, 2.7%, 8/20/18      1,200,000        1,224,071   
BNP Paribas, FRN, 1.005%, 3/17/17      2,660,000        2,656,710   
Commonwealth Bank of Australia, 5%, 10/15/19 (n)      2,560,000        2,821,317   
Credit Suisse Group AG, 6.5%, 8/08/23 (n)      915,000        972,188   
Credit Suisse New York, 1.75%, 1/29/18      1,440,000        1,438,525   
DBS Bank Ltd., 2.35%, 2/28/17 (n)      1,830,000        1,846,252   
DNB Bank A.S.A., 3.2%, 4/03/17 (n)      2,220,000        2,263,803   
Goldman Sachs Group, Inc., 5.75%, 1/24/22      3,044,000        3,452,386   
Goldman Sachs Group, Inc., FRN, 1.521%, 4/30/18      1,240,000        1,244,078   
Goldman Sachs Group, Inc., FRN, 1.638%, 10/23/19      140,000        139,479   
Huntington National Bank, FRN, 1.043%, 4/24/17      2,460,000        2,448,551   
ING Bank N.V., 1.8%, 3/16/18 (n)      660,000        660,222   
ING Bank N.V., 5.8%, 9/25/23 (n)      2,912,000        3,132,782   
JPMorgan Chase & Co., 2.2%, 10/22/19      2,090,000        2,087,806   

 

5


Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Major Banks - continued                 
JPMorgan Chase & Co., 4.625%, 5/10/21    $ 2,890,000      $ 3,143,754   
Mizuho Bank Ltd., FRN, 1.813%, 10/20/18 (n)      2,770,000        2,789,559   
Morgan Stanley, 6.625%, 4/01/18      1,532,000        1,673,368   
Morgan Stanley, 5.625%, 9/23/19      640,000        704,922   
Morgan Stanley, 3.7%, 10/23/24      1,816,000        1,816,025   
Morgan Stanley, FRN, 1.996%, 2/01/19      1,850,000        1,858,897   
Morgan Stanley, FRN, 1.358%, 7/23/19      1,070,000        1,051,163   
Nordea Bank AB, FRN, 0.819%, 5/13/16 (n)      1,492,000        1,492,994   
PNC Bank N.A., 1.5%, 10/18/17      1,600,000        1,599,534   
PNC Bank N.A., 1.6%, 6/01/18      2,340,000        2,339,974   
Royal Bank of Canada, FRN, 0.937%, 9/09/16      3,000,000        3,002,475   
Royal Bank of Canada, FRN, 1.186%, 12/10/18      3,370,000        3,365,693   
Sumitomo Mitsui Banking Corp., FRN, 0.941%, 7/11/17      1,720,000        1,709,974   
Wells Fargo & Co., FRN, 0.722%, 9/08/17      3,110,000        3,094,609   
    

 

 

 
             $ 69,448,473   
Medical & Health Technology & Services - 1.2%                 
Becton, Dickinson and Co., 1.8%, 12/15/17    $ 1,870,000      $ 1,871,836   
Laboratory Corp. of America Holdings, 2.625%, 2/01/20      1,250,000        1,251,938   
Thermo Fisher Scientific, Inc., 2.25%, 8/15/16      3,650,000        3,664,560   
    

 

 

 
      $ 6,788,334   
Metals & Mining - 1.2%                 
Barrick Gold Corp., 4.1%, 5/01/23    $ 857,000      $ 736,693   
Freeport-McMoRan Copper & Gold, Inc., 2.375%, 3/15/18      1,090,000        697,600   
Freeport-McMoRan Copper & Gold, Inc., 3.1%, 3/15/20      1,740,000        809,100   
Glencore Funding LLC, 2.125%, 4/16/18 (n)      1,270,000        1,072,046   
Glencore Funding LLC, FRN, 1.566%, 5/27/16 (n)      2,300,000        2,254,587   
Kinross Gold Corp., 5.95%, 3/15/24      1,897,000        1,176,140   
    

 

 

 
      $ 6,746,166   
Midstream - 2.0%                 
APT Pipelines Ltd., 4.2%, 3/23/25 (n)    $ 2,246,000      $ 2,162,027   
Energy Transfer Partners LP, 4.05%, 3/15/25      2,807,000        2,299,935   
Kinder Morgan Energy Partners LP, 3.5%, 3/01/21      1,854,000        1,639,761   
ONEOK Partners LP, 3.2%, 9/15/18      1,510,000        1,384,279   
Spectra Energy Capital LLC, 8%, 10/01/19      1,299,000        1,454,789   
Sunoco Logistics Partners LP, 4.25%, 4/01/24      774,000        650,293   
TransCanada PipeLines Ltd., 1.875%, 1/12/18      940,000        923,034   
TransCanada PipeLines Ltd., FRN, 1.283%, 6/30/16      790,000        788,216   
Williams Cos., Inc., 3.7%, 1/15/23      807,000        527,007   
    

 

 

 
      $ 11,829,341   
Mortgage-Backed - 2.1%                 
Fannie Mae, 5.345%, 2/01/16    $ 32,403      $ 32,358   
Fannie Mae, 6%, 11/01/16      23,921        24,189   
Fannie Mae, 1.114%, 2/25/17      2,000,268        2,004,477   
Fannie Mae, 5.5%, 9/01/17 - 4/01/25      618,684        669,391   
Fannie Mae, 4.5%, 3/01/19      630,261        654,445   
Fannie Mae, 5%, 5/01/19 - 12/01/20      157,888        166,327   
Fannie Mae, 6.5%, 11/01/31      1,182,709        1,414,484   
Fannie Mae, FRN, 0.505%, 12/25/17      1,060,897        1,057,427   
Freddie Mac, 6%, 8/01/17 - 8/01/34      117,092        123,779   
Freddie Mac, 5.5%, 9/01/17 - 6/01/20      697,036        737,360   
Freddie Mac, 3.882%, 11/25/17      1,423,992        1,481,367   

 

6


Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Mortgage-Backed - continued                 
Freddie Mac, 5%, 6/01/19    $ 402,894      $ 420,585   
Freddie Mac, 4.224%, 3/25/20      2,249,154        2,457,223   
Ginnie Mae, 6%, 6/15/33 - 10/15/36      800,305        921,687   
Ginnie Mae, 6.357%, 4/20/58      243,440        254,042   
    

 

 

 
      $ 12,419,141   
Network & Telecom - 2.0%                 
AT&T, Inc., FRN, 1.316%, 11/27/18    $ 2,940,000      $ 2,939,277   
British Telecommunications PLC, 2.35%, 2/14/19      1,330,000        1,338,582   
Verizon Communications, Inc., 1.35%, 6/09/17      1,130,000        1,128,669   
Verizon Communications, Inc., 6.1%, 4/15/18      1,300,000        1,416,832   
Verizon Communications, Inc., 5.15%, 9/15/23      3,027,000        3,348,770   
Verizon Communications, Inc., FRN, 1.295%, 6/17/19      1,250,000        1,238,794   
    

 

 

 
      $ 11,410,924   
Oil Services - 0.2%                 
Schlumberger Holdings Corp., 1.9%, 12/21/17 (n)    $ 1,100,000      $ 1,096,161   
Oils - 0.2%                 
Marathon Petroleum Corp., 3.625%, 9/15/24    $ 1,003,000      $ 886,641   
Other Banks & Diversified Financials - 7.5%                 
Banco de Credito e Inversiones, 3%, 9/13/17 (n)    $ 200,000      $ 202,666   
Banco Santander Chile, FRN, 1.516%, 4/11/17 (n)      3,410,000        3,388,688   
Bank of Tokyo-Mitsubishi UFJ Ltd., FRN, 1.087%, 9/09/16 (n)      2,870,000        2,872,052   
Banque Federative du Credit Mutuel, FRN, 1.471%, 10/28/16 (n)      2,490,000        2,494,522   
Banque Federative du Credit Mutuel, FRN, 1.473%, 1/20/17 (n)      960,000        962,613   
Capital One Bank (USA) N.A., FRN, 1.013%, 2/05/18      2,650,000        2,639,013   
Discover Bank, 3.1%, 6/04/20      1,152,000        1,157,436   
Fifth Third Bancorp, 1.35%, 6/01/17      2,570,000        2,566,754   
Fifth Third Bancorp, 2.3%, 3/01/19      795,000        797,763   
First Republic Bank, 2.375%, 6/17/19      578,000        578,691   
Groupe BPCE S.A., 12.5% to 2019, FRN to 8/29/49 (n)      2,556,000        3,241,851   
Intesa Sanpaolo S.p.A., 2.375%, 1/13/17      880,000        883,368   
Intesa Sanpaolo S.p.A., 3.875%, 1/16/18      1,752,000        1,795,877   
Lloyds Bank PLC, 2.3%, 11/27/18      780,000        787,908   
Lloyds TSB Bank PLC, 5.8%, 1/13/20 (n)      2,080,000        2,363,373   
Rabobank Nederland N.V., 3.375%, 1/19/17      1,757,000        1,793,563   
Skandinaviska Enskilda Banken AB, 2.45%, 5/27/20 (n)      1,810,000        1,819,662   
Svenska Handelsbanken AB, FRN, 1.019%, 3/21/16      1,250,000        1,250,709   
Svenska Handelsbanken AB, FRN, 1.063%, 9/23/16      2,940,000        2,943,869   
Swedbank AB, 2.125%, 9/29/17 (n)      3,568,000        3,600,965   
UBS AG, FRN, 0.741%, 8/14/17      1,470,000        1,462,740   
UBS Group Funding Ltd., FRN, 2.034%, 9/24/20 (n)      1,680,000        1,677,599   
Westpac Banking Corp., 2%, 8/14/17      2,320,000        2,339,664   
    

 

 

 
      $ 43,621,346   
Pharmaceuticals - 3.4%                 
AbbVie, Inc., 1.8%, 5/14/18    $ 2,410,000      $ 2,402,980   
Actavis Funding SCS, 3%, 3/12/20      3,625,000        3,669,327   
Actavis Funding SCS, 3.45%, 3/15/22      3,000,000        3,044,253   
Biogen, Inc., 2.9%, 9/15/20      1,420,000        1,430,022   
Celgene Corp., 2.125%, 8/15/18      2,220,000        2,225,550   
EMD Finance LLC, 1.7%, 3/19/18 (n)      2,500,000        2,488,583   
Gilead Sciences, Inc., 3.65%, 3/01/26      3,740,000        3,820,444   

 

7


Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Pharmaceuticals - continued                 
Mylan, Inc., 1.8%, 6/24/16    $ 770,000      $ 770,889   
    

 

 

 
      $ 19,852,048   
Pollution Control - 0.5%                 
Republic Services, Inc., 5.25%, 11/15/21    $ 2,620,000      $ 2,936,776   
Real Estate - Healthcare - 0.3%                 
Ventas Realty LP, REIT, 1.55%, 9/26/16    $ 1,000,000      $ 1,001,710   
Welltower, Inc., REIT, 2.25%, 3/15/18      828,000        830,702   
    

 

 

 
      $ 1,832,412   
Real Estate - Office - 0.5%                 
Boston Properties LP, REIT, 3.7%, 11/15/18    $ 1,476,000      $ 1,535,977   
Vornado Realty LP, REIT, 2.5%, 6/30/19      1,169,000        1,157,487   
    

 

 

 
      $ 2,693,464   
Real Estate - Retail - 0.3%                 
Kimco Realty Corp., REIT, 6.875%, 10/01/19    $ 690,000      $ 791,714   
WEA Finance LLC/Westfield Co., REIT, 1.75%, 9/15/17 (n)      770,000        765,905   
    

 

 

 
      $ 1,557,619   
Retailers - 0.2%                 
Dollar General Corp., 1.875%, 4/15/18    $ 275,000      $ 273,509   
Wesfarmers Ltd., 1.874%, 3/20/18 (n)      1,119,000        1,115,386   
    

 

 

 
      $ 1,388,895   
Specialty Chemicals - 0.5%                 
Airgas, Inc., 2.95%, 6/15/16    $ 1,900,000      $ 1,909,694   
Airgas, Inc., 3.05%, 8/01/20      870,000        878,849   
    

 

 

 
      $ 2,788,543   
Supermarkets - 0.3%                 
Kroger Co., 3.85%, 8/01/23    $ 1,489,000      $ 1,563,471   
Supranational - 0.9%                 
Banco Latinoamericano de Comercio Exterior S.A., 3.25%, 5/07/20 (n)    $ 1,900,000      $ 1,892,875   
Corporacion Andina de Fomento, 4.375%, 6/15/22      2,950,000        3,218,450   
    

 

 

 
      $ 5,111,325   
Telecommunications - Wireless - 1.0%                 
America Movil S.A.B. de C.V., 2.375%, 9/08/16    $ 1,007,000      $ 1,009,505   
American Tower Trust I, REIT, 1.551%, 3/15/18 (n)      1,540,000        1,516,720   
Rogers Communications, Inc., 6.8%, 8/15/18      1,490,000        1,661,052   
SBA Tower Trust, 2.898%, 10/15/44 (n)      1,920,000        1,924,965   
    

 

 

 
      $ 6,112,242   
Telephone Services - 0.2%                 
Qwest Corp., 6.5%, 6/01/17    $ 1,200,000      $ 1,257,000   
Tobacco - 0.7%                 
Reynolds American, Inc., 8.125%, 6/23/19    $ 1,316,000      $ 1,559,723   
Reynolds American, Inc., 6.875%, 5/01/20      1,340,000        1,563,927   
Reynolds American, Inc., 3.25%, 6/12/20      1,140,000        1,169,537   
    

 

 

 
      $ 4,293,187   

 

8


Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Transportation - Services - 0.6%                 
ERAC USA Finance Co., 2.75%, 3/15/17 (n)    $ 1,247,000      $ 1,260,226   
TTX Co., 2.6%, 6/15/20 (n)      2,450,000        2,442,819   
    

 

 

 
      $ 3,703,045   
U.S. Government Agencies and Equivalents - 0.9%                 
AID-Ukraine, 1.847%, 5/29/20    $ 2,500,000      $ 2,535,105   
National Credit Union Administration Guaranteed Note, 2.9%, 10/29/20      212,009        212,216   
Small Business Administration, 6.35%, 4/01/21      246,591        269,180   
Small Business Administration, 6.34%, 5/01/21      176,409        192,303   
Small Business Administration, 6.44%, 6/01/21      163,283        177,074   
Small Business Administration, 6.625%, 7/01/21      175,204        191,959   
Small Business Administration, 5.34%, 11/01/21      559,810        600,157   
Small Business Administration, 4.93%, 1/01/24      343,057        372,034   
Small Business Administration, 5.36%, 11/01/25      482,529        529,266   
Small Business Administration, 5.39%, 12/01/25      353,007        388,841   
    

 

 

 
      $ 5,468,135   
Utilities - Electric Power - 5.1%                 
Dominion Resources, Inc., 1.95%, 8/15/16    $ 2,660,000      $ 2,671,512   
Dominion Resources, Inc., 3.9%, 10/01/25      2,641,000        2,670,643   
E.ON International Finance B.V., 5.8%, 4/30/18 (n)      3,000,000        3,222,582   
Empresa Nacional de Electricidad S.A., 4.25%, 4/15/24      710,000        704,038   
Enel Finance International S.A., 6.25%, 9/15/17 (n)      2,240,000        2,392,042   
Exelon Generation Co. LLC, 5.2%, 10/01/19      1,340,000        1,430,886   
Exelon Generation Co. LLC, 4.25%, 6/15/22      1,040,000        1,009,490   
NextEra Energy Capital Holdings, Inc., 2.056%, 9/01/17      2,727,000        2,738,391   
Oncor Electric Delivery Co., 4.1%, 6/01/22      2,206,000        2,348,717   
PG&E Corp., 2.4%, 3/01/19      1,448,000        1,455,725   
PPL WEM Holdings PLC, 3.9%, 5/01/16 (n)      2,800,000        2,812,984   
PPL WEM Holdings PLC, 5.375%, 5/01/21 (n)      546,000        602,794   
Southern Co., 2.45%, 9/01/18      2,280,000        2,299,984   
Southern Power Co., 1.85%, 12/01/17      580,000        581,135   
Transelec S.A., 4.625%, 7/26/23 (n)      927,000        953,863   
Transelec S.A., 4.25%, 1/14/25 (n)      228,000        222,636   
Xcel Energy, Inc., 1.2%, 6/01/17      1,500,000        1,493,553   
    

 

 

 
      $ 29,610,975   
Total Bonds      $ 575,019,219   
Money Market Funds - 0.3%                 
MFS Institutional Money Market Portfolio, 0.28%, at Net Asset Value (v)      1,571,578      $ 1,571,578   
Total Investments      $ 576,590,797   
Other Assets, Less Liabilities - 1.0%        6,055,837   
Net Assets - 100.0%      $ 582,646,634   

 

(i) Interest only security for which the fund receives interest on notional principal (Par amount). Par amount shown is the notional principal and does not reflect the cost of the security.
(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $179,729,101 representing 30.8% 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.

 

9


Portfolio of Investments (unaudited) – continued

 

(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  
Falcon Franchise Loan LLC, FRN, 6.622%, 1/05/23      1/18/02         $81,572         $22,292   
GO Financial Auto Securitization, Trust, 2015-2, “A”, 3.27%, 11/15/18      11/19/15         1,267,828         1,267,195   
Total Restricted Securities         $1,289,487   
% of Net assets         0.2%   

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

 

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

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

 

AUD   Australian Dollar
CAD   Canadian Dollar
DKK   Danish Krone
EUR   Euro
GBP   British Pound
JPY   Japanese Yen
NOK   Norwegian Krone
NZD   New Zealand Dollar
SEK   Swedish Krona

Derivative Contracts at 1/31/16

Forward Foreign Currency Exchange Contracts at 1/31/16

 

Type    Currency      Counterparty    Contracts to
Deliver/Receive
   Settlement
Date Range
   In Exchange
For
     Contracts
at Value
     Net Unrealized
Appreciation
(Depreciation)
 
Asset Derivatives            
SELL      DKK      

Credit Suisse Group

   9,466,576    4/15/16      $1,377,557         $1,377,187         $370   
SELL      EUR      

Deutsche Bank AG

   24,603,977    3/17/16      27,191,084         26,683,441         507,643   
SELL      EUR      

Goldman Sachs International

   27,808,723    4/15/16      30,204,056         30,185,024         19,032   
SELL      GBP      

BNP Paribus S.A.

   9,405,477    4/15/16      13,584,002         13,404,050         179,952   
SELL      JPY      

UBS AG

   1,396,213,134    4/15/16      11,896,434         11,554,972         341,462   
SELL      NZD      

Westpac Banking Corp.

   3,052,658    4/15/16      1,982,335         1,968,377         13,958   
SELL      SEK      

Goldman Sachs International

   11,649,976    4/15/16      1,371,345         1,360,454         10,891   
                    

 

 

 
                       $1,073,308   
                    

 

 

 
Liability Derivatives            
SELL      AUD      

Westpac Banking Corp.

   4,469,012    4/15/16      $3,108,801         $3,152,094         $(43,293
SELL      CAD      

Merrill Lynch International

   4,854,367    4/15/16      3,414,385         3,465,350         (50,965
SELL      NOK      

Goldman Sachs International

   16,602,437    4/15/16      1,870,592         1,911,014         (40,422
                    

 

 

 
                       $(134,680
                    

 

 

 

 

10


Portfolio of Investments (unaudited) – continued

 

Futures Contracts at 1/31/16

 

Description    Currency      Contracts      Value    Expiration Date    Unrealized
Appreciation
(Depreciation)
 
Asset Derivatives               
Interest Rate Futures               
U.S. Treasury Note 10 yr (Long)      USD         240       $31,098,750    March - 2016      $748,125   
              

 

 

 

At January 31, 2016, the fund had cash collateral of $324,000 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.

 

11


Supplemental Information

1/31/16 (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

Debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. 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. 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 January 31, 2016 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      $—         $5,468,135         $—         $5,468,135   
Non-U.S. Sovereign Debt              130,477,155                 130,477,155   
U.S. Corporate Bonds              234,973,487                 234,973,487   
Residential Mortgage-Backed Securities              12,419,141                 12,419,141   
Commercial Mortgage-Backed Securities              5,981,031                 5,981,031   
Asset-Backed Securities (including CDOs)              27,367,601                 27,367,601   
Foreign Bonds              158,332,669                 158,332,669   
Mutual Funds      1,571,578                         1,571,578   
Total Investments      $1,571,578         $575,019,219         $—         $576,590,797   
Other Financial Instruments                            
Futures Contracts      $748,125         $—         $—         $748,125   
Forward Foreign Currency Exchange Contracts              938,628                 938,628   

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

 

12


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      $591,074,529   
Gross unrealized appreciation      10,793,363   
Gross unrealized depreciation      (25,277,095
Net unrealized appreciation (depreciation)      $(14,483,732

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 an affiliated issuer:

 

Underlying Affiliated Fund    Beginning
Shares/Par
Amount
     Acquisitions
Shares/Par
Amount
     Dispositions
Shares/Par
Amount
     Ending
Shares/Par
Amount
 
MFS Institutional Money Market Portfolio      777         32,413,617         (30,842,816      1,571,578   
Underlying Affiliated Fund    Realized
Gain (Loss)
     Capital Gain
Distributions
     Dividend
Income
     Ending
Value
 
MFS Institutional Money Market Portfolio      $—         $—         $2,186         $1,571,578   

(4) Issuer Country Weightings

Issuer country weighting percentages of portfolio holdings based on net assets, as of January 31, 2016, are as follows:

 

United States     49.9%   
United Kingdom     5.4%   
Japan     4.8%   
Italy     4.5%   
France     4.5%   
Germany     3.7%   
Netherlands     3.3%   
Canada     2.8%   
Switzerland     2.3%   
Other Countries     18.8%   

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

 

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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 INTERMEDIATE INCOME TRUST

 

By (Signature and Title)*    ROBIN A. STELMACH
  Robin A. Stelmach, President

Date: March 17, 2016

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)*    ROBIN A. STELMACH
  Robin A. Stelmach, President (Principal Executive Officer)

Date: March 17, 2016

 

By (Signature and Title)*    DAVID L. DILORENZO
  David L. DiLorenzo, Treasurer (Principal Financial Officer and Accounting Officer)

Date: March 17, 2016

 

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