UNITED STATES
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-02594
MFS SERIES TRUST IV
(Exact name of registrant as specified in charter)
111 Huntington Avenue, Boston, Massachusetts 02199 (Address of principal executive offices) (Zip code)
Christopher R. Bohane
Massachusetts Financial Services Company
111Huntington 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: August 31
Date of reporting period: February 29, 2024
ITEM 1. REPORTS TO STOCKHOLDERS.
Item 1(a):
Equity Fund
Equity Fund
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back cover |
Taiwan Semiconductor Manufacturing Co. Ltd. | 8.8% |
Samsung Electronics Co. Ltd. | 4.7% |
Tencent Holdings Ltd. | 3.9% |
Alibaba Group Holding Ltd. | 2.0% |
Hon Hai Precision Industry Co. Ltd. | 1.8% |
KB Financial Group, Inc. | 1.8% |
Tata Consultancy Services Ltd. | 1.8% |
Petrobras | 1.7% |
Kia Corp. | 1.5% |
Samsung Fire & Marine Insurance Co. Ltd. | 1.5% |
Information Technology | 23.0% |
Financials | 21.9% |
Consumer Discretionary | 12.1% |
Communication Services | 9.5% |
Materials | 7.6% |
Consumer Staples | 6.3% |
Industrials | 5.9% |
Energy | 4.8% |
Health Care | 4.5% |
Utilities | 2.0% |
Real Estate | 1.5% |
China | 26.3% |
India | 15.8% |
South Korea | 14.4% |
Taiwan | 14.1% |
Brazil | 6.5% |
Indonesia | 4.0% |
South Africa | 2.4% |
Mexico | 2.3% |
Greece | 2.2% |
Other Countries | 12.0% |
Hong Kong Dollar | 19.3% |
Indian Rupee | 15.2% |
South Korean Won | 14.4% |
Taiwan Dollar | 14.1% |
Chinese Renminbi | 6.7% |
Brazilian Real | 6.5% |
Indonesian Rupiah | 4.0% |
United States Dollar | 3.3% |
South African Rand | 2.4% |
Other Currencies | 14.1% |
(g) | The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. (“S&P Global Market Intelligence”). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS. |
(x) | Represents the portfolio’s exposure to issuer countries as a percentage of a portfolio’s net assets. For purposes of this presentation, United States (included in Other Countries) includes Cash & Cash Equivalents. |
(y) | Represents the portfolio’s exposure to a particular currency as a percentage of a portfolio's net assets. For purposes of this presentation, United States Dollar includes Cash & Cash Equivalents. |
September 1, 2023 through February 29, 2024
Share Class | Annualized Expense Ratio | Beginning Account Value 9/01/23 | Ending Account Value 2/29/24 | Expenses Paid During Period (p) 9/01/23-2/29/24 | |
A | Actual | 1.24% | $1,000.00 | $1,056.63 | $6.34 |
Hypothetical (h) | 1.24% | $1,000.00 | $1,018.70 | $6.22 | |
B | Actual | 1.99% | $1,000.00 | $1,051.80 | $10.15 |
Hypothetical (h) | 1.99% | $1,000.00 | $1,014.97 | $9.97 | |
C | Actual | 1.99% | $1,000.00 | $1,052.01 | $10.15 |
Hypothetical (h) | 1.99% | $1,000.00 | $1,014.97 | $9.97 | |
I | Actual | 0.99% | $1,000.00 | $1,057.49 | $5.06 |
Hypothetical (h) | 0.99% | $1,000.00 | $1,019.94 | $4.97 | |
R1 | Actual | 1.24% | $1,000.00 | $1,056.69 | $6.34 |
Hypothetical (h) | 1.24% | $1,000.00 | $1,018.70 | $6.22 | |
R2 | Actual | 1.49% | $1,000.00 | $1,055.39 | $7.61 |
Hypothetical (h) | 1.49% | $1,000.00 | $1,017.45 | $7.47 | |
R3 | Actual | 1.24% | $1,000.00 | $1,056.91 | $6.34 |
Hypothetical (h) | 1.24% | $1,000.00 | $1,018.70 | $6.22 | |
R4 | Actual | 0.99% | $1,000.00 | $1,057.88 | $5.07 |
Hypothetical (h) | 0.99% | $1,000.00 | $1,019.94 | $4.97 | |
R6 | Actual | 0.90% | $1,000.00 | $1,058.07 | $4.61 |
Hypothetical (h) | 0.90% | $1,000.00 | $1,020.39 | $4.52 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 97.5% | ||||
Airlines – 0.7% | ||||
Catrion Catering Holding Co. | 3,643 | $129,777 | ||
Copa Holdings S.A., “A” | 3,510 | 342,120 | ||
$471,897 | ||||
Alcoholic Beverages – 1.2% | ||||
Ambev S.A. | 150,500 | $380,859 | ||
Kweichow Moutai Co. Ltd., “A” | 1,000 | 235,638 | ||
Wuliangye Yibin Co. Ltd., “A” | 6,300 | 124,585 | ||
$741,082 | ||||
Apparel Manufacturers – 0.1% | ||||
Pou Chen Corp. | 78,000 | $75,262 | ||
Automotive – 5.1% | ||||
BYD Co. Ltd. | 22,500 | $555,495 | ||
Kia Corp. | 10,118 | 945,998 | ||
Mahindra & Mahindra Ltd. | 38,605 | 899,707 | ||
Maruti Suzuki India Ltd. | 3,110 | 423,400 | ||
Yutong Bus Co. Ltd., “A” | 164,600 | 427,218 | ||
$3,251,818 | ||||
Biotechnology – 0.7% | ||||
Hugel, Inc. (a) | 3,330 | $459,888 | ||
Brokerage & Asset Managers – 0.4% | ||||
B3 S.A. - Brasil Bolsa Balcao | 101,000 | $260,673 | ||
Moscow Exchange MICEX-RTS PJSC (a)(u) | 57,902 | 0 | ||
$260,673 | ||||
Business Services – 4.4% | ||||
Chinasoft International Ltd. | 120,000 | $78,166 | ||
HCL Technologies Ltd. | 25,461 | 510,916 | ||
Infosys Ltd. | 27,472 | 554,600 | ||
JOYY, Inc., ADR | 6,392 | 201,348 | ||
Tata Consultancy Services Ltd. | 23,097 | 1,140,724 | ||
WNS (Holdings) Ltd., ADR (a) | 5,614 | 323,928 | ||
$2,809,682 | ||||
Chemicals – 0.3% | ||||
UPL Ltd. | 37,685 | $213,476 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Computer Software – 1.0% | ||||
Elm Co. | 1,177 | $331,730 | ||
Kingsoft Corp. | 107,200 | 299,166 | ||
$630,896 | ||||
Computer Software - Systems – 7.5% | ||||
Asustek Computer, Inc. | 19,000 | $273,494 | ||
Hon Hai Precision Industry Co. Ltd. | 355,000 | 1,156,773 | ||
Lenovo Group Ltd. | 254,000 | 281,267 | ||
Samsung Electronics Co. Ltd. | 53,950 | 2,973,813 | ||
Wistron Corp. | 23,000 | 84,041 | ||
$4,769,388 | ||||
Construction – 4.3% | ||||
Anhui Conch Cement Co. Ltd. | 156,500 | $342,203 | ||
Beijing New Building Materials PLC, “A” | 50,300 | 196,424 | ||
Beijing Roborock Technology Co. Ltd., “A” | 2,200 | 99,634 | ||
CEMEX S.A.B. de C.V. (a) | 651,625 | 498,155 | ||
Midea Group Co. Ltd., “A” | 40,800 | 355,236 | ||
Techtronic Industries Co. Ltd. | 15,000 | 162,367 | ||
Ultratech Cement Ltd. | 4,827 | 575,890 | ||
Zhejiang Supor Co. Ltd., “A” | 63,700 | 489,533 | ||
$2,719,442 | ||||
Consumer Products – 0.5% | ||||
AmorePacific Corp. | 3,683 | $330,795 | ||
Consumer Services – 0.1% | ||||
KE Holdings, Inc., ADR | 6,760 | $91,868 | ||
Electrical Equipment – 0.3% | ||||
Voltronic Power Technology Corp. | 4,000 | $203,104 | ||
Electronics – 11.1% | ||||
MediaTek, Inc. | 15,000 | $540,977 | ||
Novatek Microelectronics Corp. | 27,000 | 513,358 | ||
Realtek Semiconductor Corp. | 11,000 | 198,010 | ||
Taiwan Semiconductor Manufacturing Co. Ltd. | 257,000 | 5,610,022 | ||
Tripod Technology Corp. | 38,000 | 250,052 | ||
$7,112,419 | ||||
Energy - Independent – 0.9% | ||||
Hindustan Petroleum Corp. Ltd. | 50,471 | $310,071 | ||
Reliance Industries Ltd. | 6,946 | 244,746 | ||
$554,817 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Energy - Integrated – 4.3% | ||||
LUKOIL PJSC (a)(u) | 9,157 | $0 | ||
MOL Hungarian Oil & Gas PLC | 28,240 | 224,690 | ||
Oil & Natural Gas Corp. Ltd. | 108,625 | 346,641 | ||
Petrobras | 134,800 | 1,117,752 | ||
PetroChina Co. Ltd. | 1,058,000 | 833,752 | ||
Sasol Ltd. | 26,678 | 201,309 | ||
$2,724,144 | ||||
Energy - Renewables – 0.3% | ||||
Mytilineos S.A. | 4,818 | $187,463 | ||
Engineering - Construction – 1.3% | ||||
Budimex S.A. | 1,964 | $359,049 | ||
Doosan Bobcat, Inc. | 13,385 | 471,933 | ||
$830,982 | ||||
Food & Beverages – 2.7% | ||||
AVI Ltd. | 75,717 | $353,004 | ||
Gruma S.A.B. de C.V. | 15,557 | 277,045 | ||
Inner Mongolia Yili Industrial Group Co. Ltd., “A” | 163,864 | 645,820 | ||
Orion Corp. | 4,575 | 319,178 | ||
PT Indofood Sukses Makmur Tbk | 288,400 | 121,581 | ||
$1,716,628 | ||||
Food & Drug Stores – 0.6% | ||||
BGF Retail Co., Ltd. | 1,414 | $140,275 | ||
BIM Birlesik Magazalar A.S. | 18,048 | 224,361 | ||
$364,636 | ||||
Forest & Paper Products – 0.3% | ||||
PT Indah Kiat Pulp & Paper Tbk | 395,100 | $219,360 | ||
Gaming & Lodging – 0.2% | ||||
OPAP S.A. | 8,645 | $157,625 | ||
Insurance – 3.9% | ||||
China Pacific Insurance Co. Ltd. | 180,400 | $344,233 | ||
DB Insurance Co. Ltd. | 8,751 | 649,293 | ||
Ping An Insurance Co. of China Ltd., “H” | 130,000 | 582,796 | ||
Samsung Fire & Marine Insurance Co. Ltd. | 4,152 | 929,180 | ||
$2,505,502 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Internet – 6.1% | ||||
MakeMyTrip Ltd. (a) | 5,682 | $350,523 | ||
NetEase, Inc. | 29,700 | 668,387 | ||
NetEase, Inc., ADR | 3,749 | 404,592 | ||
Tencent Holdings Ltd. | 70,000 | 2,478,319 | ||
$3,901,821 | ||||
Major Banks – 2.6% | ||||
Bandhan Bank Ltd. | 153,234 | $361,480 | ||
Bank of China Ltd. | 764,000 | 300,545 | ||
National Bank of Greece S.A (a) | 47,066 | 368,495 | ||
Nedbank Group Ltd. | 52,753 | 602,864 | ||
$1,633,384 | ||||
Medical & Health Technology & Services – 0.4% | ||||
OdontoPrev S.A. | 112,700 | $273,186 | ||
Medical Equipment – 0.3% | ||||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., “A” | 4,300 | $172,867 | ||
Metals & Mining – 4.4% | ||||
African Rainbow Minerals Ltd. | 11,527 | $101,471 | ||
Alrosa PJSC (a)(u) | 143,843 | 0 | ||
Aluminum Corp. of China Ltd. | 422,000 | 211,283 | ||
Hindalco Industries Ltd. | 38,433 | 233,543 | ||
Industries Qatar Q.P.S.C. | 175,727 | 622,598 | ||
Jiangxi Copper Co. Ltd., “H” | 228,700 | 340,589 | ||
Kumba Iron Ore Ltd. | 9,393 | 262,960 | ||
POSCO Holdings, Inc. | 477 | 154,570 | ||
Vale S.A. | 63,500 | 855,719 | ||
$2,782,733 | ||||
Natural Gas - Distribution – 0.5% | ||||
China Resources Gas Group Ltd. | 102,600 | $310,572 | ||
Other Banks & Diversified Financials – 15.0% | ||||
Akbank T.A.S. | 65,010 | $86,551 | ||
Bangkok Bank Public Co. Ltd. | 132,000 | 522,627 | ||
Bank Negara Indonesia PT | 1,246,500 | 475,915 | ||
Bank of Communications Co. Ltd. | 147,000 | 96,504 | ||
BNK Financial Group, Inc. | 43,365 | 244,246 | ||
China Construction Bank Corp. | 1,050,000 | 654,448 | ||
China Merchants Bank Co. Ltd. | 153,000 | 596,992 | ||
Credicorp Ltd. | 2,851 | 487,179 | ||
Emirates NBD Bank PJSC | 147,539 | 735,094 | ||
Hana Financial Group, Inc. | 6,288 | 267,273 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Other Banks & Diversified Financials – continued | ||||
HDFC Bank Ltd. | 34,230 | $579,360 | ||
HDFC Bank Ltd., ADR | 1,507 | 80,624 | ||
IndusInd Bank Ltd. | 27,157 | 483,064 | ||
KB Financial Group, Inc. | 23,945 | 1,141,865 | ||
Kotak Mahindra Bank Ltd. | 22,896 | 466,515 | ||
Krung Thai Bank PCL | 223,400 | 100,286 | ||
Power Finance Corp. Ltd. | 70,278 | 339,625 | ||
PT Bank Central Asia Tbk | 612,000 | 384,569 | ||
PT Bank Mandiri Tbk | 1,488,200 | 662,895 | ||
Sberbank of Russia PJSC (a)(u) | 177,552 | 0 | ||
Shriram Transport Finance Co. Ltd. | 20,196 | 593,972 | ||
Tisco Financial Group PCL | 124,300 | 348,310 | ||
Yapi Kredi | 320,600 | 237,128 | ||
$9,585,042 | ||||
Pharmaceuticals – 3.1% | ||||
China Medical System Holdings Ltd. | 77,000 | $126,473 | ||
China Resources Pharmaceutical Group Ltd. | 154,000 | 104,247 | ||
Dr. Reddy's Laboratories Ltd. | 2,598 | 201,290 | ||
Gedeon Richter PLC | 6,816 | 181,459 | ||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., “A” | 62,200 | 255,778 | ||
Shanghai Pharmaceuticals Holding Co. Ltd., “H” | 57,300 | 92,213 | ||
Sinopharm Group Co. Ltd., “H” | 94,400 | 264,650 | ||
Sun Pharmaceutical Industries Ltd. | 40,396 | 768,762 | ||
$1,994,872 | ||||
Railroad & Shipping – 0.5% | ||||
Evergreen Marine Corp. (Taiwan) Ltd. | 25,000 | $130,894 | ||
Rumo S.A. | 45,100 | 206,126 | ||
$337,020 | ||||
Real Estate – 1.0% | ||||
Aldar Properties PJSC | 130,171 | $195,986 | ||
Emaar Properties PJSC | 199,317 | 440,641 | ||
$636,627 | ||||
Restaurants – 0.7% | ||||
Jollibee Foods Corp. | 39,210 | $190,976 | ||
Yum China Holdings, Inc. | 6,750 | 289,507 | ||
$480,483 | ||||
Specialty Chemicals – 0.2% | ||||
Saudi Aramco Base Oil Co. | 3,085 | $138,197 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Specialty Stores – 6.3% | ||||
Alibaba Group Holding Ltd. | 134,600 | $1,253,252 | ||
Alibaba Group Holding Ltd., ADR | 975 | 72,179 | ||
Cencosud S.A. | 90,783 | 163,042 | ||
JD.com, Inc., “A” | 9,678 | 110,074 | ||
Meituan, “B” (a) | 44,260 | 451,108 | ||
Multiplan Empreendimentos Imobiliarios S.A. | 43,475 | 230,970 | ||
PDD Holdings, Inc., ADR (a) | 6,363 | 792,448 | ||
Vipshop Holdings Ltd., ADR (a) | 12,942 | 249,134 | ||
Walmart de Mexico S.A.B. de C.V. | 171,298 | 685,926 | ||
$4,008,133 | ||||
Telecommunications - Wireless – 2.0% | ||||
Etihad Etisalat Co. | 20,517 | $302,533 | ||
Ooredoo Q.P.S.C. | 37,715 | 117,775 | ||
PT Telekom Indonesia | 2,792,100 | 710,684 | ||
Turkcell Iletisim Hizmetleri A.S. | 70,834 | 151,845 | ||
$1,282,837 | ||||
Telephone Services – 1.1% | ||||
Hellenic Telecommunications Organization S.A. | 47,198 | $712,122 | ||
Utilities - Electric Power – 1.1% | ||||
CEZ A.S. (Czech Republic) | 8,352 | $285,345 | ||
China Resources Power Holdings Co. Ltd. | 150,000 | 323,776 | ||
Power Grid Corp. of India Ltd. | 25,472 | 86,892 | ||
$696,013 | ||||
Total Common Stocks (Identified Cost, $54,648,948) | $62,348,756 | |||
Preferred Stocks – 1.6% | ||||
Computer Software - Systems – 0.3% | ||||
Samsung Electronics Co. Ltd. | 4,156 | $198,499 | ||
Metals & Mining – 0.8% | ||||
Gerdau S.A. | 119,310 | $516,016 | ||
Utilities - Electric Power – 0.5% | ||||
Companhia Energetica de Minas Gerais | 116,400 | $280,282 | ||
Total Preferred Stocks (Identified Cost, $987,111) | $994,797 |
Issuer | Shares/Par | Value ($) | ||
Investment Companies (h) – 1.3% | ||||
Money Market Funds – 1.3% | ||||
MFS Institutional Money Market Portfolio, 5.37% (v) (Identified Cost, $813,327) | 813,327 | $813,327 | ||
Other Assets, Less Liabilities – (0.4)% | (240,746) | |||
Net Assets – 100.0% | $63,916,134 |
(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 values of the fund's investments in affiliated issuers and in unaffiliated issuers were $813,327 and $63,343,553, respectively. | |||
(u) | The security was valued using significant unobservable inputs and is considered level 3 under the fair value hierarchy. For further information about the fund’s level 3 holdings, please see Note 2 in the Notes to Financial Statements. | |||
(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. |
The following abbreviations are used in this report and are defined: | |
ADR | American Depositary Receipt |
PCL | Public Company Limited |
Assets | |
Investments in unaffiliated issuers, at value (identified cost, $55,636,059) | $63,343,553 |
Investments in affiliated issuers, at value (identified cost, $813,327) | 813,327 |
Foreign currency, at value (identified cost, $14,605) | 14,605 |
Receivables for | |
Fund shares sold | 6,335 |
Dividends | 120,869 |
Receivable from investment adviser | 33,166 |
Other assets | 314 |
Total assets | $64,332,169 |
Liabilities | |
Payables for | |
Fund shares reacquired | $11,507 |
Payable to affiliates | |
Administrative services fee | 107 |
Shareholder servicing costs | 10,783 |
Distribution and service fees | 83 |
Payable for independent Trustees' compensation | 500 |
Deferred foreign capital gains tax expense payable | 190,016 |
Payable for custodian fee | 100,319 |
Payable for audit and tax fees | 73,006 |
Accrued expenses and other liabilities | 29,714 |
Total liabilities | $416,035 |
Net assets | $63,916,134 |
Net assets consist of | |
Paid-in capital | $61,206,990 |
Total distributable earnings (loss) | 2,709,144 |
Net assets | $63,916,134 |
Shares of beneficial interest outstanding | 5,061,071 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $3,982,055 | 315,423 | $12.62 |
Class B | 260,672 | 20,847 | 12.50 |
Class C | 170,096 | 13,571 | 12.53 |
Class I | 33,743,219 | 2,675,273 | 12.61 |
Class R1 | 75,902 | 6,064 | 12.52 |
Class R2 | 77,420 | 6,146 | 12.60 |
Class R3 | 123,141 | 9,759 | 12.62 |
Class R4 | 117,498 | 9,294 | 12.64 |
Class R6 | 25,366,131 | 2,004,694 | 12.65 |
(a) | Maximum offering price per share was equal to the net asset value per share for all share classes, except for Class A, for which the maximum offering price per share was $13.39 [100 / 94.25 x $12.62]. On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6. |
Net investment income (loss) | |
Income | |
Dividends | $558,020 |
Dividends from affiliated issuers | 21,661 |
Other | 5,242 |
Foreign taxes withheld | (71,723) |
Total investment income | $513,200 |
Expenses | |
Management fee | $202,273 |
Distribution and service fees | 7,452 |
Shareholder servicing costs | 18,835 |
Administrative services fee | 9,093 |
Independent Trustees' compensation | 1,530 |
Custodian fee | 99,109 |
Shareholder communications | 4,957 |
Audit and tax fees | 66,559 |
Legal fees | 126 |
Registration fees | 61,981 |
Miscellaneous | 15,518 |
Total expenses | $487,433 |
Reduction of expenses by investment adviser | (223,283) |
Net expenses | $264,150 |
Net investment income (loss) | $249,050 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers (includes $44,618 foreign capital gains tax) | $(876,692) |
Affiliated issuers | (189) |
Foreign currency | (14,814) |
Net realized gain (loss) | $(891,695) |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers (includes $129,929 increase in deferred foreign capital gains tax) | $4,180,975 |
Affiliated issuers | (52) |
Translation of assets and liabilities in foreign currencies | (1,137) |
Net unrealized gain (loss) | $4,179,786 |
Net realized and unrealized gain (loss) | $3,288,091 |
Change in net assets from operations | $3,537,141 |
Six months ended | Year ended | |
2/29/24 (unaudited) | 8/31/23 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $249,050 | $1,339,722 |
Net realized gain (loss) | (891,695) | (2,169,465) |
Net unrealized gain (loss) | 4,179,786 | 3,203,116 |
Change in net assets from operations | $3,537,141 | $2,373,373 |
Total distributions to shareholders | $(1,650,757) | $(1,376,015) |
Change in net assets from fund share transactions | $13,732,333 | $7,306,790 |
Total change in net assets | $15,618,717 | $8,304,148 |
Net assets | ||
At beginning of period | 48,297,417 | 39,993,269 |
At end of period | $63,916,134 | $48,297,417 |
Class A | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.24 | $12.11 | $15.96 | $12.97 | $12.12 | $13.66 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.04 | $0.32 | $0.37 | $0.23 | $0.24 | $0.25 |
Net realized and unrealized gain (loss) | 0.64 | 0.12 | (3.70) | 2.96 | 0.81 | (1.20) |
Total from investment operations | $0.68 | $0.44 | $(3.33) | $3.19 | $1.05 | $(0.95) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.30) | $(0.31) | $(0.25) | $(0.20) | $(0.20) | $(0.22) |
From net realized gain | — | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.30) | $(0.31) | $(0.52) | $(0.20) | $(0.20) | $(0.59) |
Net asset value, end of period (x) | $12.62 | $12.24 | $12.11 | $15.96 | $12.97 | $12.12 |
Total return (%) (r)(s)(t)(x) | 5.66(n) | 3.79 | (21.42) | 24.78 | 8.63 | (6.77) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.08(a) | 2.44 | 1.94 | 1.82 | 2.39 | 2.95 |
Expenses after expense reductions | 1.24(a) | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 |
Net investment income (loss) | 0.71(a)(l) | 2.69 | 2.62 | 1.50 | 1.98 | 2.01 |
Portfolio turnover | 26(n) | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $3,982 | $4,331 | $4,797 | $7,869 | $5,702 | $5,174 |
Class B | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.09 | $11.96 | $15.75 | $12.81 | $11.99 | $13.54 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.00)(w) | $0.23 | $0.28 | $0.11 | $0.15 | $0.21 |
Net realized and unrealized gain (loss) | 0.62 | 0.13 | (3.67) | 2.93 | 0.80 | (1.25) |
Total from investment operations | $0.62 | $0.36 | $(3.39) | $3.04 | $0.95 | $(1.04) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.21) | $(0.23) | $(0.13) | $(0.10) | $(0.13) | $(0.14) |
From net realized gain | — | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.21) | $(0.23) | $(0.40) | $(0.10) | $(0.13) | $(0.51) |
Net asset value, end of period (x) | $12.50 | $12.09 | $11.96 | $15.75 | $12.81 | $11.99 |
Total return (%) (r)(s)(t)(x) | 5.18(n) | 3.07 | (21.98) | 23.77 | 7.88 | (7.51) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.83(a) | 3.18 | 2.71 | 2.58 | 3.19 | 3.70 |
Expenses after expense reductions | 1.99(a) | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 |
Net investment income (loss) | (0.04)(a)(l) | 1.96 | 2.02 | 0.72 | 1.22 | 1.63 |
Portfolio turnover | 26(n) | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $261 | $256 | $276 | $403 | $312 | $391 |
Class C | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.11 | $11.95 | $15.72 | $12.78 | $11.95 | $13.50 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.00)(w) | $0.23 | $0.26 | $0.11 | $0.15 | $0.16 |
Net realized and unrealized gain (loss) | 0.62 | 0.13 | (3.65) | 2.93 | 0.78 | (1.19) |
Total from investment operations | $0.62 | $0.36 | $(3.39) | $3.04 | $0.93 | $(1.03) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.20) | $(0.20) | $(0.11) | $(0.10) | $(0.10) | $(0.15) |
From net realized gain | — | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.20) | $(0.20) | $(0.38) | $(0.10) | $(0.10) | $(0.52) |
Net asset value, end of period (x) | $12.53 | $12.11 | $11.95 | $15.72 | $12.78 | $11.95 |
Total return (%) (r)(s)(t)(x) | 5.20(n) | 3.08 | (22.02) | 23.87 | 7.78 | (7.51) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.84(a) | 3.18 | 2.69 | 2.58 | 3.19 | 3.70 |
Expenses after expense reductions | 1.99(a) | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 |
Net investment income (loss) | (0.03)(a)(l) | 1.95 | 1.85 | 0.72 | 1.22 | 1.31 |
Portfolio turnover | 26(n) | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $170 | $177 | $224 | $410 | $344 | $420 |
Class I | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.26 | $12.14 | $16.00 | $13.00 | $12.16 | $13.71 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.05 | $0.36 | $0.39 | $0.28 | $0.29 | $0.29 |
Net realized and unrealized gain (loss) | 0.64 | 0.12 | (3.69) | 2.96 | 0.80 | (1.22) |
Total from investment operations | $0.69 | $0.48 | $(3.30) | $3.24 | $1.09 | $(0.93) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.34) | $(0.36) | $(0.29) | $(0.24) | $(0.25) | $(0.25) |
From net realized gain | — | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.34) | $(0.36) | $(0.56) | $(0.24) | $(0.25) | $(0.62) |
Net asset value, end of period (x) | $12.61 | $12.26 | $12.14 | $16.00 | $13.00 | $12.16 |
Total return (%) (r)(s)(t)(x) | 5.75(n) | 4.06 | (21.21) | 25.10 | 8.89 | (6.55) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.80(a) | 2.19 | 1.67 | 1.57 | 1.91 | 2.70 |
Expenses after expense reductions | 0.99(a) | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 |
Net investment income (loss) | 0.87(a)(l) | 2.98 | 2.77 | 1.83 | 2.46 | 2.26 |
Portfolio turnover | 26(n) | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $33,743 | $20,793 | $17,811 | $33,247 | $21,273 | $1,811 |
Class R1 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.15 | $12.03 | $15.84 | $12.84 | $12.01 | $13.57 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.04 | $0.32 | $0.39 | $0.17 | $0.15 | $0.17 |
Net realized and unrealized gain (loss) | 0.64 | 0.12 | (3.70) | 2.94 | 0.80 | (1.20) |
Total from investment operations | $0.68 | $0.44 | $(3.31) | $3.11 | $0.95 | $(1.03) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.31) | $(0.32) | $(0.23) | $(0.11) | $(0.12) | $(0.16) |
From net realized gain | — | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.31) | $(0.32) | $(0.50) | $(0.11) | $(0.12) | $(0.53) |
Net asset value, end of period (x) | $12.52 | $12.15 | $12.03 | $15.84 | $12.84 | $12.01 |
Total return (%) (r)(s)(t)(x) | 5.67(n) | 3.82 | (21.43) | 24.32 | 7.84 | (7.47) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.08(a) | 2.44 | 1.96 | 2.18 | 3.14 | 3.70 |
Expenses after expense reductions | 1.24(a) | 1.24 | 1.24 | 1.59 | 1.99 | 1.99 |
Net investment income (loss) | 0.70(a)(l) | 2.72 | 2.82 | 1.11 | 1.25 | 1.32 |
Portfolio turnover | 26(n) | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $76 | $72 | $69 | $88 | $71 | $66 |
Class R2 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.21 | $12.08 | $15.93 | $12.95 | $12.11 | $13.66 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.03 | $0.30 | $0.36 | $0.18 | $0.21 | $0.23 |
Net realized and unrealized gain (loss) | 0.63 | 0.12 | (3.73) | 2.97 | 0.81 | (1.20) |
Total from investment operations | $0.66 | $0.42 | $(3.37) | $3.15 | $1.02 | $(0.97) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.27) | $(0.29) | $(0.21) | $(0.17) | $(0.18) | $(0.21) |
From net realized gain | — | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.27) | $(0.29) | $(0.48) | $(0.17) | $(0.18) | $(0.58) |
Net asset value, end of period (x) | $12.60 | $12.21 | $12.08 | $15.93 | $12.95 | $12.11 |
Total return (%) (r)(s)(t)(x) | 5.54(n) | 3.61 | (21.67) | 24.47 | 8.35 | (6.97) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.33(a) | 2.69 | 2.22 | 2.08 | 2.64 | 3.20 |
Expenses after expense reductions | 1.49(a) | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 |
Net investment income (loss) | 0.46(a)(l) | 2.48 | 2.57 | 1.21 | 1.75 | 1.82 |
Portfolio turnover | 26(n) | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $77 | $73 | $71 | $90 | $73 | $67 |
Class R3 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.24 | $12.12 | $15.98 | $12.98 | $12.14 | $13.69 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.04 | $0.32 | $0.41 | $0.23 | $0.21 | $0.24 |
Net realized and unrealized gain (loss) | 0.64 | 0.13 | (3.75) | 2.97 | 0.83 | (1.19) |
Total from investment operations | $0.68 | $0.45 | $(3.34) | $3.20 | $1.04 | $(0.95) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.30) | $(0.33) | $(0.25) | $(0.20) | $(0.20) | $(0.23) |
From net realized gain | — | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.30) | $(0.33) | $(0.52) | $(0.20) | $(0.20) | $(0.60) |
Net asset value, end of period (x) | $12.62 | $12.24 | $12.12 | $15.98 | $12.98 | $12.14 |
Total return (%) (r)(s)(t)(x) | 5.69(n) | 3.83 | (21.45) | 24.80 | 8.52 | (6.75) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.08(a) | 2.43 | 1.99 | 1.82 | 2.43 | 2.95 |
Expenses after expense reductions | 1.24(a) | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 |
Net investment income (loss) | 0.70(a)(l) | 2.68 | 2.96 | 1.50 | 1.71 | 1.89 |
Portfolio turnover | 26(n) | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $123 | $119 | $118 | $107 | $81 | $71 |
Class R4 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.28 | $12.16 | $16.03 | $13.02 | $12.17 | $13.72 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.06 | $0.36 | $0.43 | $0.26 | $0.28 | $0.30 |
Net realized and unrealized gain (loss) | 0.64 | 0.12 | (3.74) | 2.98 | 0.81 | (1.23) |
Total from investment operations | $0.70 | $0.48 | $(3.31) | $3.24 | $1.09 | $(0.93) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.34) | $(0.36) | $(0.29) | $(0.23) | $(0.24) | $(0.25) |
From net realized gain | — | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.34) | $(0.36) | $(0.56) | $(0.23) | $(0.24) | $(0.62) |
Net asset value, end of period (x) | $12.64 | $12.28 | $12.16 | $16.03 | $13.02 | $12.17 |
Total return (%) (r)(s)(t)(x) | 5.79(n) | 4.05 | (21.24) | 25.10 | 8.90 | (6.55) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.83(a) | 2.19 | 1.72 | 1.58 | 2.14 | 2.70 |
Expenses after expense reductions | 0.99(a) | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 |
Net investment income (loss) | 0.96(a)(l) | 2.97 | 3.12 | 1.70 | 2.25 | 2.36 |
Portfolio turnover | 26(n) | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $117 | $113 | $104 | $118 | $97 | $85 |
Class R6 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.30 | $12.17 | $16.04 | $13.03 | $12.19 | $13.73 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.06 | $0.37 | $0.45 | $0.27 | $0.29 | $0.31 |
Net realized and unrealized gain (loss) | 0.64 | 0.13 | (3.75) | 2.98 | 0.81 | (1.22) |
Total from investment operations | $0.70 | $0.50 | $(3.30) | $3.25 | $1.10 | $(0.91) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.35) | $(0.37) | $(0.30) | $(0.24) | $(0.26) | $(0.26) |
From net realized gain | — | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.35) | $(0.37) | $(0.57) | $(0.24) | $(0.26) | $(0.63) |
Net asset value, end of period (x) | $12.65 | $12.30 | $12.17 | $16.04 | $13.03 | $12.19 |
Total return (%) (r)(s)(t)(x) | 5.81(n) | 4.24 | (21.18) | 25.17 | 8.91 | (6.40) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.74(a) | 2.08 | 1.64 | 1.51 | 2.05 | 2.58 |
Expenses after expense reductions | 0.90(a) | 0.88 | 0.90 | 0.93 | 0.92 | 0.87 |
Net investment income (loss) | 1.04(a)(l) | 3.08 | 3.23 | 1.79 | 2.36 | 2.44 |
Portfolio turnover | 26(n) | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $25,366 | $22,363 | $16,523 | $17,855 | $14,422 | $12,590 |
(a) | Annualized. |
(d) | Per share data is based on average shares outstanding. |
(l) | Recognition of net investment income by the fund may be affected by the timing of the declaration of dividends by companies in which the fund invests and the actual annual net investment income ratio may differ. |
(n) | Not annualized. |
(r) | Certain expenses have been reduced without which performance would have been lower. |
(s) | From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower. |
(t) | Total returns do not include any applicable sales charges. |
(w) | Per share amount was less than $0.01. |
(x) | The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
Equity Securities: | ||||
China | $16,804,319 | $— | $— | $16,804,319 |
India | 10,089,749 | — | — | 10,089,749 |
South Korea | 9,226,806 | — | — | 9,226,806 |
Taiwan | 9,035,987 | — | — | 9,035,987 |
Brazil | 4,121,583 | — | — | 4,121,583 |
Indonesia | 2,575,004 | — | — | 2,575,004 |
South Africa | 1,521,608 | — | — | 1,521,608 |
Mexico | 1,461,126 | — | — | 1,461,126 |
Greece | 1,425,705 | — | — | 1,425,705 |
Other Countries | 6,633,070 | 448,596 | 0 | 7,081,666 |
Mutual Funds | 813,327 | — | — | 813,327 |
Total | $63,708,284 | $448,596 | $0 | $64,156,880 |
Equity Securities | |
Balance as of 8/31/23 | $0 |
Realized gain (loss) | (268,044) |
Change in unrealized appreciation or depreciation | 398,197 |
Sales | (130,153) |
Balance as of 2/29/24 | $0 |
Year ended 8/31/23 | |
Ordinary income (including any short-term capital gains) | $1,376,015 |
As of 2/29/24 | |
Cost of investments | $58,470,219 |
Gross appreciation | 9,438,347 |
Gross depreciation | (3,751,686) |
Net unrealized appreciation (depreciation) | $5,686,661 |
As of 8/31/23 | |
Undistributed ordinary income | 1,258,969 |
Capital loss carryforwards | (1,751,070) |
Other temporary differences | (60,944) |
Net unrealized appreciation (depreciation) | 1,375,805 |
Short-Term | $(1,751,070) |
Six months ended 2/29/24 | Year ended 8/31/23 | ||
Class A | $94,501 | $106,681 | |
Class B | 4,264 | 5,263 | |
Class C | 2,774 | 3,158 | |
Class I | 884,602 | 588,416 | |
Class R1 | 1,808 | 1,867 | |
Class R2 | 1,652 | 1,716 | |
Class R3 | 2,831 | 3,244 | |
Class R4 | 3,131 | 3,041 | |
Class R6 | 655,194 | 662,629 | |
Total | $1,650,757 | $1,376,015 |
Up to $1 billion | 0.75% |
In excess of $1 billion and up to $2.5 billion | 0.70% |
In excess of $2.5 billion | 0.675% |
Classes | ||||||||
A | B | C | I | R1 | R2 | R3 | R4 | R6 |
1.24% | 1.99% | 1.99% | 0.99% | 1.99% | 1.49% | 1.24% | 0.99% | 0.95% |
Distribution Fee Rate (d) | Service Fee Rate (d) | Total Distribution Plan (d) | Annual Effective Rate (e) | Distribution and Service Fee | |
Class A | — | 0.25% | 0.25% | 0.25% | $ 4,945 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 1,238 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 852 |
Class R1 | 0.75% | 0.25% | 1.00% | 0.25% | 90 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 182 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 145 |
Total Distribution and Service Fees | $7,452 |
(d) | In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each class’s average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting period. Any rate changes, if applicable, are detailed below. |
(e) | The annual effective rates represent actual fees incurred under the distribution plan for the six months ended February 29, 2024 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. There were no service fee rebates for the six months ended February 29, 2024. For the six months ended February 29, 2024, the 0.75% distribution fee was not imposed for Class R1 shares due to the sales charge limitations contained in Financial Industry Regulatory Authority (“FINRA”) Rule 2341. |
Amount | |
Class A | $4 |
Class B | 23 |
Class C | 9 |
Six months ended 2/29/24 | Year ended 8/31/23 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 218,227 | $2,678,509 | 254,491 | $2,936,773 | |
Class B | — | — | 1 | 18 | |
Class C | 289 | 3,482 | 278 | 3,296 | |
Class I | 1,077,637 | 13,177,194 | 752,072 | 8,828,285 | |
Class R3 | 610 | 7,431 | 2,187 | 26,166 | |
Class R4 | 242 | 2,953 | 967 | 11,732 | |
Class R6 | 195,120 | 2,360,840 | 856,276 | 9,864,592 | |
1,492,125 | $18,230,409 | 1,866,272 | $21,670,862 | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 7,797 | $94,501 | 9,110 | $106,681 | |
Class B | 355 | 4,264 | 453 | 5,263 | |
Class C | 230 | 2,774 | 271 | 3,158 | |
Class I | 71,550 | 865,756 | 48,565 | 568,699 | |
Class R1 | 150 | 1,808 | 161 | 1,867 | |
Class R2 | 136 | 1,652 | 147 | 1,716 | |
Class R3 | 234 | 2,831 | 277 | 3,244 | |
Class R4 | 258 | 3,131 | 259 | 3,041 | |
Class R6 | 53,970 | 655,194 | 56,442 | 662,629 | |
134,680 | $1,631,911 | 115,685 | $1,356,298 | ||
Shares reacquired | |||||
Class A | (264,371) | $(3,280,793) | (305,998) | $(3,486,786) | |
Class B | (703) | (8,392) | (2,332) | (28,723) | |
Class C | (1,547) | (18,561) | (4,704) | (53,640) | |
Class I | (169,740) | (2,045,490) | (572,358) | (6,765,097) | |
Class R3 | (832) | (10,110) | (2,475) | (30,137) | |
Class R4 | (401) | (4,820) | (602) | (7,037) | |
Class R6 | (62,243) | (761,821) | (451,996) | (5,348,950) | |
(499,837) | $(6,129,987) | (1,340,465) | $(15,720,370) |
Six months ended 2/29/24 | Year ended 8/31/23 | ||||
Shares | Amount | Shares | Amount | ||
Net change | |||||
Class A | (38,347) | $(507,783) | (42,397) | $(443,332) | |
Class B | (348) | (4,128) | (1,878) | (23,442) | |
Class C | (1,028) | (12,305) | (4,155) | (47,186) | |
Class I | 979,447 | 11,997,460 | 228,279 | 2,631,887 | |
Class R1 | 150 | 1,808 | 161 | 1,867 | |
Class R2 | 136 | 1,652 | 147 | 1,716 | |
Class R3 | 12 | 152 | (11) | (727) | |
Class R4 | 99 | 1,264 | 624 | 7,736 | |
Class R6 | 186,847 | 2,254,213 | 460,722 | 5,178,271 | |
1,126,968 | $13,732,333 | 641,492 | $7,306,790 |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $519,794 | $19,480,356 | $19,186,582 | $(189) | $(52) | $813,327 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $21,661 | $— |
International Equity Fund
International Equity Fund
1 | |
3 | |
5 | |
13 | |
15 | |
16 | |
17 | |
26 | |
37 | |
37 | |
37 | |
37 | |
37 |
back cover |
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 2.4% |
ASML Holding N.V. | 2.3% |
Roche Holding AG | 1.7% |
KDDI Corp. | 1.4% |
Volvo Group | 1.4% |
Sanofi | 1.4% |
Samsung Electronics Co. Ltd. | 1.4% |
Schneider Electric SE | 1.4% |
Eni S.p.A. | 1.4% |
Manulife Financial Corp. | 1.4% |
Financials | 20.5% |
Industrials | 14.9% |
Information Technology | 13.6% |
Consumer Discretionary | 11.6% |
Health Care | 8.2% |
Materials | 8.0% |
Consumer Staples | 7.4% |
Communication Services | 5.7% |
Energy | 5.6% |
Utilities | 2.3% |
Real Estate | 1.1% |
Equity Warrants (o) | 0.0% |
Japan | 15.1% |
France | 10.1% |
United Kingdom | 9.6% |
Canada | 8.3% |
China | 7.5% |
South Korea | 4.7% |
Netherlands | 4.7% |
Switzerland | 4.1% |
Australia | 4.1% |
Other Countries | 31.8% |
Euro | 24.1% |
Japanese Yen | 15.1% |
British Pound Sterling | 9.6% |
Canadian Dollar | 8.3% |
Hong Kong Dollar | 7.3% |
South Korean Won | 4.7% |
United States Dollar | 4.3% |
Swiss Franc | 4.1% |
Taiwan Dollar | 3.9% |
Other Currencies | 18.6% |
(g) | The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. (“S&P Global Market Intelligence”). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS. |
(o) | Less than 0.1%. |
(x) | Represents the portfolio’s exposure to issuer countries as a percentage of a portfolio’s net assets. For purposes of this presentation, United States (included in Other Countries) includes Cash & Cash Equivalents and Other. |
(y) | Represents the portfolio’s exposure to a particular currency as a percentage of a portfolio's net assets. For purposes of this presentation, United States Dollar includes Cash & Cash Equivalents. |
September 1, 2023 through February 29, 2024
Share Class | Annualized Expense Ratio | Beginning Account Value 9/01/23 | Ending Account Value 2/29/24 | Expenses Paid During Period (p) 9/01/23-2/29/24 | |
A | Actual | 0.89% | $1,000.00 | $1,071.29 | $4.58 |
Hypothetical (h) | 0.89% | $1,000.00 | $1,020.44 | $4.47 | |
B | Actual | 1.64% | $1,000.00 | $1,067.00 | $8.43 |
Hypothetical (h) | 1.64% | $1,000.00 | $1,016.71 | $8.22 | |
C | Actual | 1.64% | $1,000.00 | $1,067.48 | $8.43 |
Hypothetical (h) | 1.64% | $1,000.00 | $1,016.71 | $8.22 | |
I | Actual | 0.64% | $1,000.00 | $1,072.19 | $3.30 |
Hypothetical (h) | 0.64% | $1,000.00 | $1,021.68 | $3.22 | |
R1 | Actual | 1.64% | $1,000.00 | $1,067.53 | $8.43 |
Hypothetical (h) | 1.64% | $1,000.00 | $1,016.71 | $8.22 | |
R2 | Actual | 1.14% | $1,000.00 | $1,069.94 | $5.87 |
Hypothetical (h) | 1.14% | $1,000.00 | $1,019.19 | $5.72 | |
R3 | Actual | 0.89% | $1,000.00 | $1,071.21 | $4.58 |
Hypothetical (h) | 0.89% | $1,000.00 | $1,020.44 | $4.47 | |
R4 | Actual | 0.64% | $1,000.00 | $1,072.95 | $3.30 |
Hypothetical (h) | 0.64% | $1,000.00 | $1,021.68 | $3.22 | |
R6 | Actual | 0.56% | $1,000.00 | $1,073.72 | $2.89 |
Hypothetical (h) | 0.56% | $1,000.00 | $1,022.08 | $2.82 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 98.6% | ||||
Aerospace & Defense – 1.1% | ||||
Rolls-Royce Holdings PLC (a) | 988,937 | $4,607,603 | ||
Thales S.A. | 21,082 | 3,122,741 | ||
$7,730,344 | ||||
Airlines – 0.6% | ||||
Air Canada (a)(l) | 302,784 | $4,042,623 | ||
Alcoholic Beverages – 1.0% | ||||
Ambev S.A. | 966,100 | $2,444,839 | ||
Kirin Holdings Co. Ltd. | 327,700 | 4,556,367 | ||
$7,001,206 | ||||
Apparel Manufacturers – 0.9% | ||||
Adidas AG | 20,099 | $4,064,806 | ||
Compagnie Financiere Richemont S.A. | 14,797 | 2,352,528 | ||
$6,417,334 | ||||
Automotive – 2.9% | ||||
BYD Co. Ltd. | 96,000 | $2,370,113 | ||
Compagnie Generale des Etablissements Michelin | 213,900 | 7,904,147 | ||
Kia Corp. | 22,612 | 2,114,144 | ||
Mahindra & Mahindra Ltd. | 141,850 | 3,305,877 | ||
Stellantis N.V. | 147,638 | 3,851,152 | ||
$19,545,433 | ||||
Brokerage & Asset Managers – 2.1% | ||||
3i Group PLC | 47,570 | $1,481,974 | ||
Brookfield Corp. | 163,139 | 6,731,595 | ||
iA Financial Corp., Inc. | 38,387 | 2,380,466 | ||
IG Group Holdings PLC | 427,582 | 3,772,759 | ||
$14,366,794 | ||||
Business Services – 2.0% | ||||
CGI, Inc. (a) | 34,793 | $3,994,728 | ||
Eurofins Scientific SE | 27,720 | 1,654,977 | ||
Serco Group PLC | 1,337,178 | 3,161,473 | ||
Tata Consultancy Services Ltd. | 100,532 | 4,965,113 | ||
$13,776,291 | ||||
Chemicals – 0.6% | ||||
Nutrien Ltd. | 73,214 | $3,821,596 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Computer Software – 1.2% | ||||
Check Point Software Technologies Ltd. (a) | 40,077 | $6,429,152 | ||
Kingsoft Corp. | 509,200 | 1,421,039 | ||
$7,850,191 | ||||
Computer Software - Systems – 5.7% | ||||
Amadeus IT Group S.A. | 37,108 | $2,180,981 | ||
Constellation Software, Inc. | 3,121 | 8,689,058 | ||
Hitachi Ltd. | 78,300 | 6,614,658 | ||
Hon Hai Precision Industry Co. Ltd. | 2,322,000 | 7,566,269 | ||
NEC Corp. | 65,100 | 4,381,397 | ||
Samsung Electronics Co. Ltd. | 172,531 | 9,510,195 | ||
$38,942,558 | ||||
Construction – 2.8% | ||||
Anhui Conch Cement Co. Ltd. | 589,000 | $1,287,909 | ||
CEMEX S.A.B. de C.V. (a) | 2,582,414 | 1,974,206 | ||
Compagnie de Saint-Gobain S.A. | 112,672 | 8,670,440 | ||
Heidelberg Materials AG | 42,737 | 4,143,254 | ||
James Hardie Industries PLC, GDR (a) | 34,153 | 1,348,616 | ||
Midea Group Co. Ltd., “A” | 176,200 | 1,534,133 | ||
$18,958,558 | ||||
Consumer Products – 0.6% | ||||
AmorePacific Corp. | 23,572 | $2,117,160 | ||
Kao Corp. | 45,800 | 1,740,107 | ||
$3,857,267 | ||||
Containers – 0.8% | ||||
Brambles Ltd. | 551,445 | $5,401,678 | ||
Electrical Equipment – 3.2% | ||||
Legrand S.A. | 36,178 | $3,655,959 | ||
Mitsubishi Electric Corp. | 520,200 | 8,263,449 | ||
Schneider Electric SE | 41,645 | 9,443,076 | ||
$21,362,484 | ||||
Electronics – 6.8% | ||||
ASML Holding N.V. | 16,636 | $15,651,747 | ||
Novatek Microelectronics Corp. | 143,000 | 2,718,898 | ||
NXP Semiconductors N.V. | 11,735 | 2,930,582 | ||
Renesas Electronics Corp. | 311,800 | 5,104,810 | ||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 126,959 | 16,335,814 | ||
Tokyo Electron Ltd. | 14,600 | 3,590,595 | ||
$46,332,446 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Energy - Integrated – 5.6% | ||||
Cenovus Energy, Inc. (l) | 113,895 | $1,984,760 | ||
Eni S.p.A. | 602,402 | 9,276,528 | ||
Harbour Energy PLC | 523,939 | 1,669,293 | ||
LUKOIL PJSC (a)(u) | 35,153 | 0 | ||
PetroChina Co. Ltd. | 7,570,000 | 5,965,502 | ||
Petroleo Brasileiro S.A., ADR | 383,001 | 6,327,176 | ||
Suncor Energy, Inc. (l) | 122,967 | 4,224,994 | ||
TotalEnergies SE | 136,321 | 8,691,331 | ||
$38,139,584 | ||||
Engineering - Construction – 0.4% | ||||
Doosan Bobcat, Inc. | 81,884 | $2,887,094 | ||
Food & Beverages – 1.8% | ||||
AVI Ltd. | 417,818 | $1,947,929 | ||
Ezaki Glico Co. Ltd. | 123,100 | 3,668,695 | ||
Gruma S.A.B. de C.V. | 167,256 | 2,978,554 | ||
Nestle S.A. | 20,720 | 2,149,904 | ||
WH Group Ltd. | 2,241,500 | 1,351,284 | ||
$12,096,366 | ||||
Food & Drug Stores – 2.3% | ||||
Loblaw Cos. Ltd. | 32,824 | $3,498,260 | ||
Sugi Holdings Co. Ltd. (l) | 200,900 | 3,148,443 | ||
Tesco PLC | 2,509,756 | 8,832,562 | ||
$15,479,265 | ||||
Gaming & Lodging – 1.6% | ||||
Aristocrat Leisure Ltd. | 153,935 | $4,665,691 | ||
Whitbread PLC | 151,481 | 6,315,812 | ||
$10,981,503 | ||||
General Merchandise – 1.2% | ||||
B&M European Value Retail S.A. | 699,778 | $4,644,546 | ||
Dollarama, Inc. | 43,076 | 3,332,070 | ||
$7,976,616 | ||||
Insurance – 4.5% | ||||
AUB Group Ltd. | 75,040 | $1,474,010 | ||
China Pacific Insurance Co. Ltd. | 1,753,400 | 3,345,782 | ||
DB Insurance Co. Ltd. | 50,708 | 3,762,354 | ||
Manulife Financial Corp. | 390,792 | 9,274,885 | ||
Ping An Insurance Co. of China Ltd., “H” | 882,500 | 3,956,287 | ||
Samsung Fire & Marine Insurance Co. Ltd. | 24,652 | 5,516,894 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Insurance – continued | ||||
Tokio Marine Holding, Inc. | 109,900 | $3,207,860 | ||
$30,538,072 | ||||
Internet – 2.8% | ||||
Moneysupermarket.com Group PLC | 564,741 | $1,745,111 | ||
NetEase, Inc., ADR | 72,366 | 7,809,739 | ||
Scout24 AG | 29,910 | 2,172,355 | ||
Tencent Holdings Ltd. | 212,600 | 7,527,010 | ||
$19,254,215 | ||||
Leisure & Toys – 1.0% | ||||
Sankyo Co. Ltd. (l) | 593,000 | $6,763,807 | ||
Machinery & Tools – 2.6% | ||||
Finning International, Inc. | 116,139 | $3,044,782 | ||
GEA Group AG | 52,717 | 2,123,514 | ||
OSG Corp. | 209,600 | 2,935,267 | ||
Volvo Group | 353,945 | 9,734,307 | ||
$17,837,870 | ||||
Major Banks – 9.4% | ||||
ABN AMRO Group N.V., GDR | 437,682 | $7,024,740 | ||
Bank of China Ltd. | 4,421,000 | 1,739,151 | ||
Bank of Ireland Group PLC | 278,021 | 2,420,106 | ||
BNP Paribas | 130,025 | 7,782,604 | ||
Danske Bank A.S. | 202,154 | 5,935,791 | ||
DBS Group Holdings Ltd. | 361,300 | 8,949,596 | ||
Erste Group Bank AG | 89,397 | 3,565,287 | ||
National Australia Bank Ltd. | 187,493 | 4,124,095 | ||
National Bank of Greece S.A (a) | 376,096 | 2,944,573 | ||
Nedbank Group Ltd. | 221,748 | 2,534,147 | ||
OTP Bank PLC | 33,258 | 1,594,565 | ||
UBS Group AG | 276,913 | 7,893,907 | ||
UniCredit S.p.A. | 206,604 | 6,902,126 | ||
$63,410,688 | ||||
Medical & Health Technology & Services – 0.3% | ||||
OdontoPrev S.A. | 731,200 | $1,772,437 | ||
Medical Equipment – 1.1% | ||||
Demant A.S. (a) | 75,223 | $3,764,150 | ||
Fisher & Paykel Healthcare Corp. Ltd. | 151,576 | 2,261,032 | ||
Olympus Corp. | 95,000 | 1,350,987 | ||
$7,376,169 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Metals & Mining – 4.3% | ||||
Fortescue Ltd. | 209,881 | $3,537,438 | ||
Glencore PLC | 1,394,319 | 6,602,821 | ||
Rio Tinto PLC | 119,320 | 7,649,867 | ||
Toyota Tsusho Corp. | 83,700 | 5,400,972 | ||
Vale S.A. | 426,400 | 5,746,120 | ||
$28,937,218 | ||||
Other Banks & Diversified Financials – 4.5% | ||||
Banca Monte dei Paschi di Siena S.p.A. | 388,260 | $1,586,206 | ||
Bangkok Bank Public Co. Ltd. | 733,900 | 2,905,724 | ||
China Construction Bank Corp. | 8,614,000 | 5,368,966 | ||
Credicorp Ltd. | 29,488 | 5,038,910 | ||
Emirates NBD Bank PJSC | 372,873 | 1,857,792 | ||
Hana Financial Group, Inc. | 36,295 | 1,542,728 | ||
IndusInd Bank Ltd. | 47,170 | 839,052 | ||
Julius Baer Group Ltd. | 44,496 | 2,378,889 | ||
KB Financial Group, Inc. | 88,842 | 4,236,608 | ||
Macquarie Group Ltd. | 36,903 | 4,672,896 | ||
Sberbank of Russia PJSC (a)(u) | 715,224 | 0 | ||
$30,427,771 | ||||
Pharmaceuticals – 6.6% | ||||
Chugai Pharmaceutical Co. Ltd. | 141,000 | $5,643,010 | ||
Dr. Reddy's Laboratories Ltd. | 22,835 | 1,769,228 | ||
Novo Nordisk A.S., “B” | 31,778 | 3,777,050 | ||
Roche Holding AG | 44,405 | 11,646,678 | ||
Sandoz Group AG (a) | 49,240 | 1,528,954 | ||
Sanofi | 100,724 | 9,567,921 | ||
Santen Pharmaceutical Co. Ltd. | 511,300 | 5,069,687 | ||
Sun Pharmaceutical Industries Ltd. | 314,290 | 5,981,142 | ||
$44,983,670 | ||||
Printing & Publishing – 1.5% | ||||
Transcontinental, Inc., “A” | 131,290 | $1,387,244 | ||
Wolters Kluwer N.V. | 57,115 | 9,003,301 | ||
$10,390,545 | ||||
Railroad & Shipping – 0.5% | ||||
Sankyu, Inc. | 94,000 | $3,317,463 | ||
Real Estate – 1.2% | ||||
CapitaLand India Trusts IEU, REIT | 1,963,164 | $1,473,595 | ||
Goodman Group, REIT | 140,178 | 2,724,359 | ||
KDX Realty Investment Corp., REIT | 1,765 | 1,764,764 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Real Estate – continued | ||||
Nomura Real Estate Holdings | 98,600 | $2,448,558 | ||
$8,411,276 | ||||
Restaurants – 1.5% | ||||
Pluxee N.V. (a) | 69,326 | $1,980,708 | ||
Sodexo | 73,586 | 5,861,487 | ||
Wetherspoons (J.D.) PLC (a) | 206,027 | 1,971,314 | ||
$9,813,509 | ||||
Specialty Chemicals – 2.1% | ||||
Linde PLC | 17,285 | $7,757,854 | ||
Nitto Denko Corp. | 74,000 | 6,786,953 | ||
$14,544,807 | ||||
Specialty Stores – 2.6% | ||||
Alibaba Group Holding Ltd. | 618,500 | $5,758,816 | ||
NEXT PLC | 61,367 | 6,440,318 | ||
PDD Holdings, Inc., ADR (a) | 23,719 | 2,953,964 | ||
Walmart de Mexico S.A.B. de C.V. | 662,710 | 2,653,679 | ||
$17,806,777 | ||||
Telecommunications - Wireless – 2.2% | ||||
KDDI Corp. | 321,700 | $9,772,024 | ||
PT Telekom Indonesia | 19,810,600 | 5,042,469 | ||
$14,814,493 | ||||
Telephone Services – 0.5% | ||||
Hellenic Telecommunications Organization S.A. | 205,520 | $3,100,878 | ||
Tobacco – 1.4% | ||||
British American Tobacco PLC | 197,544 | $5,847,485 | ||
Japan Tobacco, Inc. | 132,800 | 3,447,556 | ||
$9,295,041 | ||||
Trucking – 0.5% | ||||
Yamato Holdings Co. Ltd. | 239,500 | $3,634,355 | ||
Utilities - Electric Power – 2.3% | ||||
CLP Holdings Ltd. | 205,500 | $1,712,609 | ||
E.ON SE | 518,189 | 6,614,290 | ||
Iberdrola S.A. | 624,994 | 7,173,738 | ||
$15,500,637 | ||||
Total Common Stocks (Identified Cost, $575,591,848) | $668,898,929 |
Issuer | Shares/Par | Value ($) | ||
Preferred Stocks – 0.3% | ||||
Metals & Mining – 0.3% | ||||
Gerdau S.A. (Identified Cost, $2,150,388) | 499,630 | $2,160,899 |
Strike Price | First Exercise | |||
Warrants – 0.0% | ||||
Computer Software - Systems – 0.0% | ||||
Constellation Software, Inc. (CAD 100 principal amount of Series 2 Debentures for 1 warrant, Expiration 3/31/40) (a) (Identified Cost, $0) | CAD 11.5 | N/A | 3,156 | $0 |
Investment Companies (h) – 0.3% | ||||
Money Market Funds – 0.3% | ||||
MFS Institutional Money Market Portfolio, 5.37% (v) (Identified Cost, $1,906,937) | 1,906,939 | $1,906,939 | ||
Collateral for Securities Loaned – 0.2% | ||||
State Street Navigator Securities Lending Government Money Market Portfolio, 5.34% (j) (Identified Cost, $1,258,635) | 1,258,635 | $1,258,635 | ||
Other Assets, Less Liabilities – 0.6% | 3,921,668 | |||
Net Assets – 100.0% | $678,147,070 |
(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 values of the fund's investments in affiliated issuers and in unaffiliated issuers were $1,906,939 and $672,318,463, respectively. | |||
(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. See Note 2 for additional information. | |||
(u) | The security was valued using significant unobservable inputs and is considered level 3 under the fair value hierarchy. For further information about the fund’s level 3 holdings, please see Note 2 in the Notes to Financial Statements. | |||
(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. |
The following abbreviations are used in this report and are defined: | |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
IEU | International Equity Unit |
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: | |
CAD | Canadian Dollar |
Assets | |
Investments in unaffiliated issuers, at value, including $12,182,673 of securities on loan (identified cost, $579,000,871) | $672,318,463 |
Investments in affiliated issuers, at value (identified cost, $1,906,937) | 1,906,939 |
Foreign currency, at value (identified cost, $3) | 3 |
Receivables for | |
Investments sold | 44,742,376 |
Fund shares sold | 685,546 |
Interest and dividends | 1,781,868 |
Other assets | 2,099 |
Total assets | $721,437,294 |
Liabilities | |
Payables for | |
Investments purchased | $40,619,253 |
Fund shares reacquired | 631,602 |
Collateral for securities loaned, at value (c) | 1,258,635 |
Payable to affiliates | |
Investment adviser | 1,318 |
Administrative services fee | 587 |
Shareholder servicing costs | 90,316 |
Distribution and service fees | 559 |
Payable for independent Trustees' compensation | 1,893 |
Deferred foreign capital gains tax expense payable | 490,414 |
Accrued expenses and other liabilities | 195,647 |
Total liabilities | $43,290,224 |
Net assets | $678,147,070 |
Net assets consist of | |
Paid-in capital | $603,611,627 |
Total distributable earnings (loss) | 74,535,443 |
Net assets | $678,147,070 |
Shares of beneficial interest outstanding | 55,047,563 |
(c) | Non-cash collateral is not included. |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $26,830,819 | 2,152,119 | $12.47 |
Class B | 146,691 | 12,043 | 12.18 |
Class C | 490,034 | 40,479 | 12.11 |
Class I | 268,468,842 | 21,823,323 | 12.30 |
Class R1 | 1,038,610 | 86,563 | 12.00 |
Class R2 | 2,883,438 | 236,512 | 12.19 |
Class R3 | 1,489,440 | 120,947 | 12.31 |
Class R4 | 704,984 | 57,249 | 12.31 |
Class R6 | 376,094,212 | 30,518,328 | 12.32 |
(a) | Maximum offering price per share was equal to the net asset value per share for all share classes, except for Class A, for which the maximum offering price per share was $13.23 [100 / 94.25 x $12.47]. On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6. |
Net investment income (loss) | |
Income | |
Dividends | $6,751,428 |
Dividends from affiliated issuers | 151,200 |
Other | 22,596 |
Income on securities loaned | 17,767 |
Interest | 1,184 |
Foreign taxes withheld | (647,920) |
Total investment income | $6,296,255 |
Expenses | |
Management fee | $1,587,625 |
Distribution and service fees | 49,714 |
Shareholder servicing costs | 129,543 |
Administrative services fee | 50,248 |
Independent Trustees' compensation | 6,113 |
Custodian fee | 96,075 |
Shareholder communications | 9,462 |
Audit and tax fees | 46,248 |
Legal fees | 1,550 |
Miscellaneous | 89,624 |
Total expenses | $2,066,202 |
Reduction of expenses by investment adviser | (124,418) |
Net expenses | $1,941,784 |
Net investment income (loss) | $4,354,471 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $7,460,114 |
Affiliated issuers | 1,430 |
Foreign currency | (33,704) |
Net realized gain (loss) | $7,427,840 |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers (includes $344,513 increase in deferred foreign capital gains tax) | $35,146,650 |
Affiliated issuers | (642) |
Translation of assets and liabilities in foreign currencies | (31,358) |
Net unrealized gain (loss) | $35,114,650 |
Net realized and unrealized gain (loss) | $42,542,490 |
Change in net assets from operations | $46,896,961 |
Six months ended | Year ended | |
2/29/24 (unaudited) | 8/31/23 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $4,354,471 | $17,681,456 |
Net realized gain (loss) | 7,427,840 | (21,379,703) |
Net unrealized gain (loss) | 35,114,650 | 78,394,046 |
Change in net assets from operations | $46,896,961 | $74,695,799 |
Total distributions to shareholders | $(18,501,562) | $(14,738,424) |
Change in net assets from fund share transactions | $29,812,857 | $70,429,407 |
Total change in net assets | $58,208,256 | $130,386,782 |
Net assets | ||
At beginning of period | 619,938,814 | 489,552,032 |
At end of period | $678,147,070 | $619,938,814 |
Class A | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $11.94 | $10.77 | $13.71 | $10.79 | $10.37 | $11.71 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.07 | $0.33 | $0.31 | $0.31 | $0.25 | $0.30 |
Net realized and unrealized gain (loss) | 0.77 | 1.12 | (2.57) | 2.87 | 0.47 | (1.01) |
Total from investment operations | $0.84 | $1.45 | $(2.26) | $3.18 | $0.72 | $(0.71) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.31) | $(0.19) | $(0.11) | $(0.26) | $(0.30) | $(0.26) |
From net realized gain | — | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.31) | $(0.28) | $(0.68) | $(0.26) | $(0.30) | $(0.63) |
Net asset value, end of period (x) | $12.47 | $11.94 | $10.77 | $13.71 | $10.79 | $10.37 |
Total return (%) (r)(s)(t)(x) | 7.13(n) | 13.60 | (17.24) | 29.82 | 6.85 | (5.67) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 0.93(a) | 0.96 | 0.95 | 0.98 | 0.99 | 1.00 |
Expenses after expense reductions | 0.89(a) | 0.89 | 0.89 | 0.89 | 0.89 | 0.89 |
Net investment income (loss) | 1.12(a)(l) | 2.90 | 2.44 | 2.45 | 2.39 | 2.80 |
Portfolio turnover | 26(n) | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $26,831 | $27,916 | $18,999 | $110,106 | $93,455 | $84,917 |
Class B | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $11.62 | $10.49 | $13.61 | $10.72 | $10.32 | $11.64 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.02 | $0.23 | $0.23 | $0.22 | $0.17 | $0.24 |
Net realized and unrealized gain (loss) | 0.75 | 1.10 | (2.55) | 2.85 | 0.47 | (1.02) |
Total from investment operations | $0.77 | $1.33 | $(2.32) | $3.07 | $0.64 | $(0.78) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.21) | $(0.11) | $(0.23) | $(0.18) | $(0.24) | $(0.17) |
From net realized gain | — | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.21) | $(0.20) | $(0.80) | $(0.18) | $(0.24) | $(0.54) |
Net asset value, end of period (x) | $12.18 | $11.62 | $10.49 | $13.61 | $10.72 | $10.32 |
Total return (%) (r)(s)(t)(x) | 6.70(n) | 12.81 | (17.99) | 28.84 | 6.06 | (6.41) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.68(a) | 1.71 | 1.70 | 1.72 | 1.74 | 1.75 |
Expenses after expense reductions | 1.64(a) | 1.64 | 1.64 | 1.64 | 1.64 | 1.64 |
Net investment income (loss) | 0.37(a)(l) | 2.05 | 1.85 | 1.75 | 1.61 | 2.28 |
Portfolio turnover | 26(n) | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $147 | $154 | $161 | $210 | $148 | $152 |
Class C | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $11.58 | $10.48 | $13.59 | $10.70 | $10.28 | $11.59 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.02 | $0.23 | $0.23 | $0.23 | $0.17 | $0.22 |
Net realized and unrealized gain (loss) | 0.75 | 1.09 | (2.53) | 2.83 | 0.47 | (1.00) |
Total from investment operations | $0.77 | $1.32 | $(2.30) | $3.06 | $0.64 | $(0.78) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.24) | $(0.13) | $(0.24) | $(0.17) | $(0.22) | $(0.16) |
From net realized gain | — | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.24) | $(0.22) | $(0.81) | $(0.17) | $(0.22) | $(0.53) |
Net asset value, end of period (x) | $12.11 | $11.58 | $10.48 | $13.59 | $10.70 | $10.28 |
Total return (%) (r)(s)(t)(x) | 6.75(n) | 12.72 | (17.91) | 28.78 | 6.08 | (6.42) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.68(a) | 1.71 | 1.70 | 1.72 | 1.74 | 1.75 |
Expenses after expense reductions | 1.64(a) | 1.64 | 1.64 | 1.64 | 1.64 | 1.64 |
Net investment income (loss) | 0.33(a)(l) | 2.10 | 1.90 | 1.82 | 1.64 | 2.04 |
Portfolio turnover | 26(n) | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $490 | $418 | $330 | $382 | $220 | $240 |
Class I | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $11.80 | $10.63 | $13.78 | $10.84 | $10.42 | $11.77 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.08 | $0.36 | $0.37 | $0.38 | $0.31 | $0.31 |
Net realized and unrealized gain (loss) | 0.76 | 1.10 | (2.59) | 2.84 | 0.44 | (1.00) |
Total from investment operations | $0.84 | $1.46 | $(2.22) | $3.22 | $0.75 | $(0.69) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.34) | $(0.20) | $(0.36) | $(0.28) | $(0.33) | $(0.29) |
From net realized gain | — | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.34) | $(0.29) | $(0.93) | $(0.28) | $(0.33) | $(0.66) |
Net asset value, end of period (x) | $12.30 | $11.80 | $10.63 | $13.78 | $10.84 | $10.42 |
Total return (%) (r)(s)(t)(x) | 7.22(n) | 13.92 | (17.13) | 30.14 | 7.09 | (5.45) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 0.68(a) | 0.71 | 0.70 | 0.72 | 0.75 | 0.75 |
Expenses after expense reductions | 0.64(a) | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 |
Net investment income (loss) | 1.34(a)(l) | 3.14 | 3.09 | 2.91 | 3.06 | 2.89 |
Portfolio turnover | 26(n) | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $268,469 | $251,004 | $176,391 | $22,325 | $5,183 | $1,652 |
Class R1 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $11.48 | $10.44 | $13.51 | $10.65 | $10.24 | $11.63 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.02 | $0.23 | $0.23 | $0.22 | $0.17 | $0.22 |
Net realized and unrealized gain (loss) | 0.75 | 1.08 | (2.53) | 2.82 | 0.47 | (1.01) |
Total from investment operations | $0.77 | $1.31 | $(2.30) | $3.04 | $0.64 | $(0.79) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.25) | $(0.18) | $(0.20) | $(0.18) | $(0.23) | $(0.23) |
From net realized gain | — | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.25) | $(0.27) | $(0.77) | $(0.18) | $(0.23) | $(0.60) |
Net asset value, end of period (x) | $12.00 | $11.48 | $10.44 | $13.51 | $10.65 | $10.24 |
Total return (%) (r)(s)(t)(x) | 6.75(n) | 12.68 | (17.95) | 28.83 | 6.13 | (6.44) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.68(a) | 1.71 | 1.70 | 1.72 | 1.74 | 1.75 |
Expenses after expense reductions | 1.64(a) | 1.64 | 1.64 | 1.64 | 1.64 | 1.64 |
Net investment income (loss) | 0.34(a)(l) | 2.08 | 1.95 | 1.74 | 1.63 | 2.09 |
Portfolio turnover | 26(n) | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $1,039 | $879 | $314 | $233 | $166 | $146 |
Class R2 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $11.68 | $10.55 | $13.72 | $10.80 | $10.38 | $11.73 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.05 | $0.31 | $0.31 | $0.29 | $0.22 | $0.27 |
Net realized and unrealized gain (loss) | 0.76 | 1.08 | (2.57) | 2.86 | 0.47 | (1.01) |
Total from investment operations | $0.81 | $1.39 | $(2.26) | $3.15 | $0.69 | $(0.74) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.30) | $(0.17) | $(0.34) | $(0.23) | $(0.27) | $(0.24) |
From net realized gain | — | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.30) | $(0.26) | $(0.91) | $(0.23) | $(0.27) | $(0.61) |
Net asset value, end of period (x) | $12.19 | $11.68 | $10.55 | $13.72 | $10.80 | $10.38 |
Total return (%) (r)(s)(t)(x) | 6.99(n) | 13.31 | (17.55) | 29.50 | 6.56 | (5.95) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.18(a) | 1.21 | 1.20 | 1.22 | 1.24 | 1.25 |
Expenses after expense reductions | 1.14(a) | 1.14 | 1.14 | 1.14 | 1.14 | 1.14 |
Net investment income (loss) | 0.86(a)(l) | 2.76 | 2.61 | 2.30 | 2.12 | 2.54 |
Portfolio turnover | 26(n) | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $2,883 | $2,744 | $1,261 | $404 | $156 | $164 |
Class R3 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $11.81 | $10.65 | $13.82 | $10.88 | $10.45 | $11.80 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.06 | $0.35 | $0.32 | $0.29 | $0.25 | $0.30 |
Net realized and unrealized gain (loss) | 0.76 | 1.09 | (2.58) | 2.91 | 0.49 | (1.02) |
Total from investment operations | $0.82 | $1.44 | $(2.26) | $3.20 | $0.74 | $(0.72) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.32) | $(0.19) | $(0.34) | $(0.26) | $(0.31) | $(0.26) |
From net realized gain | — | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.32) | $(0.28) | $(0.91) | $(0.26) | $(0.31) | $(0.63) |
Net asset value, end of period (x) | $12.31 | $11.81 | $10.65 | $13.82 | $10.88 | $10.45 |
Total return (%) (r)(s)(t)(x) | 7.03(n) | 13.67 | (17.37) | 29.75 | 6.92 | (5.72) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 0.93(a) | 0.96 | 0.95 | 0.96 | 0.99 | 1.00 |
Expenses after expense reductions | 0.89(a) | 0.89 | 0.89 | 0.89 | 0.89 | 0.89 |
Net investment income (loss) | 1.07(a)(l) | 3.08 | 2.64 | 2.22 | 2.37 | 2.79 |
Portfolio turnover | 26(n) | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $1,489 | $1,228 | $532 | $395 | $64 | $58 |
Class R4 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $11.81 | $10.65 | $13.79 | $10.85 | $10.42 | $11.77 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.08 | $0.35 | $0.38 | $0.35 | $0.27 | $0.33 |
Net realized and unrealized gain (loss) | 0.76 | 1.11 | (2.59) | 2.87 | 0.49 | (1.02) |
Total from investment operations | $0.84 | $1.46 | $(2.21) | $3.22 | $0.76 | $(0.69) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.34) | $(0.21) | $(0.36) | $(0.28) | $(0.33) | $(0.29) |
From net realized gain | — | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.34) | $(0.30) | $(0.93) | $(0.28) | $(0.33) | $(0.66) |
Net asset value, end of period (x) | $12.31 | $11.81 | $10.65 | $13.79 | $10.85 | $10.42 |
Total return (%) (r)(s)(t)(x) | 7.21(n) | 13.83 | (17.09) | 30.12 | 7.18 | (5.45) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 0.68(a) | 0.71 | 0.69 | 0.72 | 0.74 | 0.75 |
Expenses after expense reductions | 0.64(a) | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 |
Net investment income (loss) | 1.33(a)(l) | 3.08 | 3.11 | 2.73 | 2.62 | 3.04 |
Portfolio turnover | 26(n) | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $705 | $391 | $329 | $81 | $62 | $58 |
Class R6 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $11.82 | $10.65 | $13.80 | $10.85 | $10.43 | $11.78 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.08 | $0.35 | $0.37 | $0.36 | $0.29 | $0.34 |
Net realized and unrealized gain (loss) | 0.77 | 1.12 | (2.58) | 2.88 | 0.47 | (1.02) |
Total from investment operations | $0.85 | $1.47 | $(2.21) | $3.24 | $0.76 | $(0.68) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.35) | $(0.21) | $(0.37) | $(0.29) | $(0.34) | $(0.30) |
From net realized gain | — | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.35) | $(0.30) | $(0.94) | $(0.29) | $(0.34) | $(0.67) |
Net asset value, end of period (x) | $12.32 | $11.82 | $10.65 | $13.80 | $10.85 | $10.43 |
Total return (%) (r)(s)(t)(x) | 7.29(n) | 13.94 | (17.07) | 30.32 | 7.18 | (5.33) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 0.60(a) | 0.62 | 0.62 | 0.63 | 0.65 | 0.65 |
Expenses after expense reductions | 0.56(a) | 0.56 | 0.55 | 0.55 | 0.55 | 0.54 |
Net investment income (loss) | 1.42(a)(l) | 3.13 | 3.02 | 2.82 | 2.76 | 3.13 |
Portfolio turnover | 26(n) | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $376,094 | $335,205 | $291,234 | $293,695 | $247,726 | $206,790 |
(a) | Annualized. |
(d) | Per share data is based on average shares outstanding. |
(l) | Recognition of net investment income by the fund may be affected by the timing of the declaration of dividends by companies in which the fund invests and the actual annual net investment income ratio may differ. |
(n) | Not annualized. |
(r) | Certain expenses have been reduced without which performance would have been lower. |
(s) | From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower. |
(t) | Total returns do not include any applicable sales charges. |
(x) | The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
Equity Securities: | ||||
Japan | $102,611,784 | $— | $— | $102,611,784 |
France | 68,335,391 | — | — | 68,335,391 |
United Kingdom | 64,742,938 | — | — | 64,742,938 |
Canada | 56,407,061 | 0 | — | 56,407,061 |
China | 51,038,411 | — | — | 51,038,411 |
South Korea | 31,687,177 | — | — | 31,687,177 |
Netherlands | 31,679,788 | — | — | 31,679,788 |
Switzerland | 27,950,860 | — | — | 27,950,860 |
Australia | 27,948,783 | — | — | 27,948,783 |
Other Countries | 208,657,635 | — | 0 | 208,657,635 |
Mutual Funds | 3,165,574 | — | — | 3,165,574 |
Total | $674,225,402 | $0 | $0 | $674,225,402 |
Year ended 8/31/23 | |
Ordinary income (including any short-term capital gains) | $10,343,305 |
Long-term capital gains | 4,395,119 |
Total distributions | $14,738,424 |
As of 2/29/24 | |
Cost of investments | $589,495,361 |
Gross appreciation | 108,488,760 |
Gross depreciation | (23,758,719) |
Net unrealized appreciation (depreciation) | $84,730,041 |
As of 8/31/23 | |
Undistributed ordinary income | 18,216,006 |
Capital loss carryforwards | (21,077,266) |
Other temporary differences | (238,217) |
Net unrealized appreciation (depreciation) | 49,239,521 |
Short-Term | $(9,915,198) |
Long-Term | (11,162,068) |
Total | $(21,077,266) |
Six months ended 2/29/24 | Year ended 8/31/23 | ||
Class A | $688,321 | $546,445 | |
Class B | 2,535 | 2,838 | |
Class C | 9,656 | 7,387 | |
Class I | 7,494,228 | 5,503,685 | |
Class R1 | 20,382 | 17,970 | |
Class R2 | 69,777 | 33,852 | |
Class R3 | 34,451 | 15,862 | |
Class R4 | 11,319 | 9,228 | |
Class R6 | 10,170,893 | 8,601,157 | |
Total | $18,501,562 | $14,738,424 |
Up to $1 billion | 0.50% |
In excess of $1 billion and up to $2.5 billion | 0.475% |
In excess of $2.5 billion | 0.45% |
Classes | ||||||||
A | B | C | I | R1 | R2 | R3 | R4 | R6 |
0.89% | 1.64% | 1.64% | 0.64% | 1.64% | 1.14% | 0.89% | 0.64% | 0.58% |
Distribution Fee Rate (d) | Service Fee Rate (d) | Total Distribution Plan (d) | Annual Effective Rate (e) | Distribution and Service Fee | |
Class A | — | 0.25% | 0.25% | 0.25% | $ 33,558 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 721 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 2,230 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 4,623 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 6,964 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 1,618 |
Total Distribution and Service Fees | $49,714 |
(d) | In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each class’s average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting period. Any rate changes, if applicable, are detailed below. |
(e) | The annual effective rates represent actual fees incurred under the distribution plan for the six months ended February 29, 2024 based on each class's average daily net assets. MFD has |
Amount | |
Class A | $33 |
Class B | — |
Class C | 25 |
Six months ended 2/29/24 | Year ended 8/31/23 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 185,285 | $2,208,088 | 1,185,812 | $13,339,784 | |
Class B | — | — | 327 | 3,827 | |
Class C | 4,344 | 47,598 | 14,132 | 155,634 | |
Class I | 2,412,555 | 28,157,102 | 9,780,227 | 107,922,482 | |
Class R1 | 9,899 | 112,309 | 47,712 | 495,278 | |
Class R2 | 33,281 | 384,504 | 185,751 | 2,154,293 | |
Class R3 | 22,736 | 268,824 | 74,714 | 870,256 | |
Class R4 | 23,363 | 284,825 | 1,381 | 15,628 | |
Class R6 | 2,306,409 | 27,004,656 | 7,020,399 | 77,491,175 | |
4,997,872 | $58,467,906 | 18,310,455 | $202,448,357 | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 57,104 | $688,102 | 48,487 | $546,445 | |
Class B | 215 | 2,535 | 257 | 2,838 | |
Class C | 825 | 9,656 | 672 | 7,387 | |
Class I | 630,804 | 7,493,954 | 494,936 | 5,503,685 | |
Class R1 | 1,756 | 20,382 | 1,649 | 17,970 | |
Class R2 | 5,918 | 69,777 | 3,064 | 33,852 | |
Class R3 | 2,895 | 34,451 | 1,423 | 15,862 | |
Class R4 | 952 | 11,319 | 829 | 9,228 | |
Class R6 | 854,194 | 10,164,913 | 771,681 | 8,596,530 | |
1,554,663 | $18,495,089 | 1,322,998 | $14,733,797 |
Six months ended 2/29/24 | Year ended 8/31/23 | ||||
Shares | Amount | Shares | Amount | ||
Shares reacquired | |||||
Class A | (428,369) | $(5,087,219) | (660,168) | $(7,500,187) | |
Class B | (1,417) | (16,016) | (2,669) | (28,943) | |
Class C | (757) | (8,498) | (10,280) | (113,992) | |
Class I | (2,492,771) | (29,687,853) | (5,590,963) | (62,844,924) | |
Class R1 | (1,622) | (18,841) | (2,904) | (32,072) | |
Class R2 | (37,571) | (439,036) | (73,424) | (852,422) | |
Class R3 | (8,668) | (102,091) | (22,102) | (259,340) | |
Class R4 | (192) | (2,271) | (14) | (152) | |
Class R6 | (993,851) | (11,788,313) | (6,786,078) | (75,120,715) | |
(3,965,218) | $(47,150,138) | (13,148,602) | $(146,752,747) | ||
Net change | |||||
Class A | (185,980) | $(2,191,029) | 574,131 | $6,386,042 | |
Class B | (1,202) | (13,481) | (2,085) | (22,278) | |
Class C | 4,412 | 48,756 | 4,524 | 49,029 | |
Class I | 550,588 | 5,963,203 | 4,684,200 | 50,581,243 | |
Class R1 | 10,033 | 113,850 | 46,457 | 481,176 | |
Class R2 | 1,628 | 15,245 | 115,391 | 1,335,723 | |
Class R3 | 16,963 | 201,184 | 54,035 | 626,778 | |
Class R4 | 24,123 | 293,873 | 2,196 | 24,704 | |
Class R6 | 2,166,752 | 25,381,256 | 1,006,002 | 10,966,990 | |
2,587,317 | $29,812,857 | 6,484,851 | $70,429,407 |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $6,449,765 | $50,992,207 | $55,535,821 | $1,430 | $(642) | $1,906,939 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $151,200 | $— |
Discovery Fund
Discovery Fund
1 | |
3 | |
5 | |
10 | |
12 | |
13 | |
14 | |
23 | |
33 | |
33 | |
33 | |
33 | |
33 |
back cover |
Howmet Aerospace, Inc. | 2.5% |
ICON PLC | 2.1% |
GFL Environmental, Inc. | 2.1% |
Cranswick PLC | 2.1% |
ASM International N.V. | 2.1% |
Wabtec Corp. | 1.9% |
LKQ Corp. | 1.9% |
AUB Group Ltd. | 1.9% |
NS Solutions Corp. | 1.9% |
STERIS PLC | 1.8% |
Industrials | 30.3% |
Consumer Discretionary | 12.2% |
Materials | 11.1% |
Information Technology | 8.7% |
Health Care | 8.6% |
Financials | 7.6% |
Real Estate | 7.4% |
Consumer Staples | 5.0% |
Communication Services | 3.0% |
Energy | 1.7% |
United States | 42.7% |
United Kingdom | 11.1% |
Japan | 8.7% |
Canada | 5.5% |
Germany | 5.2% |
France | 3.9% |
Netherlands | 3.7% |
Brazil | 3.0% |
Australia | 2.9% |
Other Countries | 13.3% |
United States Dollar | 47.0% |
Euro | 16.2% |
British Pound Sterling | 11.1% |
Japanese Yen | 8.7% |
Brazilian Real | 3.0% |
Australian Dollar | 2.9% |
Swiss Franc | 2.7% |
Canadian Dollar | 2.1% |
Norwegian Krone | 1.9% |
Other Currencies | 4.4% |
(g) | The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. (“S&P Global Market Intelligence”). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS. |
(x) | Represents the portfolio’s exposure to issuer countries as a percentage of a portfolio’s net assets. For purposes of this presentation, United States includes Cash & Cash Equivalents. |
(y) | Represents the portfolio’s exposure to a particular currency as a percentage of a portfolio's net assets. For purposes of this presentation, United States Dollar includes Cash & Cash Equivalents. |
September 1, 2023 through February 29, 2024
Share Class | Annualized Expense Ratio | Beginning Account Value 9/01/23 | Ending Account Value 2/29/24 | Expenses Paid During Period (p) 9/01/23-2/29/24 | |
A | Actual | 1.35% | $1,000.00 | $1,071.01 | $6.95 |
Hypothetical (h) | 1.35% | $1,000.00 | $1,018.15 | $6.77 | |
B | Actual | 2.10% | $1,000.00 | $1,066.38 | $10.79 |
Hypothetical (h) | 2.10% | $1,000.00 | $1,014.42 | $10.52 | |
C | Actual | 2.10% | $1,000.00 | $1,066.96 | $10.79 |
Hypothetical (h) | 2.10% | $1,000.00 | $1,014.42 | $10.52 | |
I | Actual | 1.10% | $1,000.00 | $1,072.00 | $5.67 |
Hypothetical (h) | 1.10% | $1,000.00 | $1,019.39 | $5.52 | |
R1 | Actual | 2.10% | $1,000.00 | $1,066.99 | $10.79 |
Hypothetical (h) | 2.10% | $1,000.00 | $1,014.42 | $10.52 | |
R2 | Actual | 1.60% | $1,000.00 | $1,069.38 | $8.23 |
Hypothetical (h) | 1.60% | $1,000.00 | $1,016.91 | $8.02 | |
R3 | Actual | 1.35% | $1,000.00 | $1,070.53 | $6.95 |
Hypothetical (h) | 1.35% | $1,000.00 | $1,018.15 | $6.77 | |
R4 | Actual | 1.10% | $1,000.00 | $1,071.94 | $5.67 |
Hypothetical (h) | 1.10% | $1,000.00 | $1,019.39 | $5.52 | |
R6 | Actual | 1.00% | $1,000.00 | $1,072.61 | $5.15 |
Hypothetical (h) | 1.00% | $1,000.00 | $1,019.89 | $5.02 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 95.6% | ||||
Aerospace & Defense – 5.6% | ||||
Howmet Aerospace, Inc. | 28,056 | $1,867,127 | ||
Melrose Industries PLC | 118,010 | 945,921 | ||
Singapore Technologies Engineering Ltd. | 194,000 | 573,832 | ||
Teledyne Technologies, Inc. (a) | 1,926 | 822,922 | ||
$4,209,802 | ||||
Apparel Manufacturers – 2.0% | ||||
Burberry Group PLC | 42,567 | $690,460 | ||
Skechers USA, Inc., “A” (a) | 13,685 | 845,870 | ||
$1,536,330 | ||||
Automotive – 2.8% | ||||
Lear Corp. | 5,052 | $693,892 | ||
LKQ Corp. | 27,723 | 1,449,636 | ||
$2,143,528 | ||||
Brokerage & Asset Managers – 4.1% | ||||
B3 S.A. - Brasil Bolsa Balcao | 341,200 | $880,609 | ||
Cboe Global Markets, Inc. | 4,475 | 859,200 | ||
Euronext N.V. | 14,393 | 1,326,145 | ||
$3,065,954 | ||||
Business Services – 4.1% | ||||
Elis S.A. | 16,588 | $378,287 | ||
Gruppo Mutuionline S.p.A. (l) | 11,734 | 431,826 | ||
NS Solutions Corp. | 42,400 | 1,416,916 | ||
RS Group PLC | 88,639 | 843,195 | ||
$3,070,224 | ||||
Chemicals – 3.6% | ||||
Borregaard ASA | 43,015 | $745,178 | ||
Element Solutions, Inc. | 33,637 | 790,469 | ||
IMCD Group N.V. | 4,021 | 612,337 | ||
UPL Ltd. | 104,156 | 590,018 | ||
$2,738,002 | ||||
Computer Software – 2.6% | ||||
Dun & Bradstreet Holdings, Inc. | 41,505 | $437,463 | ||
Kinaxis, Inc. (a) | 6,167 | 639,261 | ||
OBIC Co. Ltd. | 2,500 | 390,625 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Computer Software – continued | ||||
Totvs S.A. | 78,300 | $483,400 | ||
$1,950,749 | ||||
Computer Software - Systems – 2.3% | ||||
Amadeus IT Group S.A. | 10,282 | $604,313 | ||
Kardex AG | 2,313 | 614,638 | ||
Rapid7, Inc. (a) | 9,029 | 528,919 | ||
$1,747,870 | ||||
Construction – 5.2% | ||||
Allegion PLC | 4,538 | $580,274 | ||
AZEK Co., Inc. (a) | 15,091 | 726,028 | ||
Breedon Group PLC | 172,738 | 804,594 | ||
Mid-America Apartment Communities, Inc., REIT | 5,111 | 642,351 | ||
Summit Materials, Inc., “A” (a) | 26,954 | 1,151,205 | ||
$3,904,452 | ||||
Consumer Services – 1.2% | ||||
Boyd Group Services, Inc. | 3,994 | $937,353 | ||
Containers – 1.2% | ||||
Mayr-Melnhof Karton AG | 2,846 | $362,963 | ||
Verallia S.A. | 14,954 | 552,750 | ||
$915,713 | ||||
Electrical Equipment – 1.3% | ||||
nVent Electric PLC | 14,643 | $985,767 | ||
Electronics – 2.1% | ||||
ASM International N.V. | 2,556 | $1,557,234 | ||
Energy - Independent – 0.7% | ||||
Diamondback Energy, Inc. | 2,797 | $510,508 | ||
Engineering - Construction – 3.0% | ||||
Corporacion Inmobiliaria Vesta S.A.B. de C.V. (l) | 194,965 | $683,466 | ||
Jacobs Solutions, Inc. | 8,631 | 1,265,736 | ||
JGC Corp. | 39,100 | 355,348 | ||
$2,304,550 | ||||
Entertainment – 2.1% | ||||
CTS Eventim AG | 10,711 | $841,607 | ||
Lottery Corp. Ltd. | 229,953 | 759,305 | ||
$1,600,912 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Food & Beverages – 5.0% | ||||
Bakkafrost P/F | 10,803 | $674,342 | ||
Cranswick PLC | 32,115 | 1,559,120 | ||
S Foods, Inc. | 21,600 | 450,240 | ||
Toyo Suisan Kaisha Ltd. | 8,900 | 516,832 | ||
Universal Robina Corp. | 278,500 | 579,641 | ||
$3,780,175 | ||||
General Merchandise – 1.4% | ||||
B&M European Value Retail S.A. | 156,268 | $1,037,177 | ||
Insurance – 1.9% | ||||
AUB Group Ltd. | 72,362 | $1,421,406 | ||
Internet – 1.4% | ||||
Digital Garage, Inc. | 14,300 | $331,460 | ||
Scout24 AG | 10,426 | 757,238 | ||
$1,088,698 | ||||
Machinery & Tools – 11.1% | ||||
AGCO Corp. | 5,961 | $653,922 | ||
Azbil Corp. | 13,000 | 380,756 | ||
IDEX Corp. | 3,201 | 755,116 | ||
Ingersoll Rand, Inc. | 13,965 | 1,275,423 | ||
Interpump Group S.p.A | 10,151 | 481,197 | ||
RB Global, Inc. | 13,993 | 1,062,208 | ||
SIG Combibloc Group AG | 25,536 | 505,320 | ||
VAT Group AG | 1,003 | 502,209 | ||
Veralto Corp. | 10,723 | 926,682 | ||
Wabtec Corp. | 10,265 | 1,450,342 | ||
Zurn Elkay Water Solutions Corp. | 12,833 | 407,448 | ||
$8,400,623 | ||||
Medical & Health Technology & Services – 3.3% | ||||
AS ONE Corp. | 13,100 | $455,948 | ||
ICON PLC (a) | 5,043 | 1,616,887 | ||
Selcuk Ecza Deposu Ticaret ve Sanayi A.S. | 227,226 | 437,624 | ||
$2,510,459 | ||||
Medical Equipment – 5.2% | ||||
Bruker BioSciences Corp. | 9,371 | $810,966 | ||
Envista Holdings Corp. (a) | 22,910 | 473,092 | ||
Gerresheimer AG | 7,455 | 873,418 | ||
STERIS PLC | 5,930 | 1,381,156 | ||
Tecan Group AG | 1,080 | 421,082 | ||
$3,959,714 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Oil Services – 1.0% | ||||
TechnipFMC PLC | 35,262 | $764,833 | ||
Other Banks & Diversified Financials – 1.1% | ||||
Shizuoka Financial Group, Inc. | 81,400 | $795,431 | ||
Pollution Control – 2.7% | ||||
Daiseki Co. Ltd. | 17,900 | $473,409 | ||
GFL Environmental, Inc. | 43,239 | 1,560,063 | ||
$2,033,472 | ||||
Printing & Publishing – 0.8% | ||||
Wolters Kluwer N.V. | 3,914 | $616,982 | ||
Real Estate – 4.5% | ||||
Big Yellow Group PLC, REIT | 37,691 | $477,201 | ||
Catena AB | 12,406 | 507,901 | ||
LEG Immobilien SE (a) | 5,901 | 433,818 | ||
Sun Communities, Inc., REIT | 6,642 | 888,434 | ||
Tritax Big Box PLC, REIT | 229,016 | 423,801 | ||
Unite Group PLC, REIT | 55,935 | 677,824 | ||
$3,408,979 | ||||
Restaurants – 1.8% | ||||
Pluxee N.V. (a) | 9,453 | $270,081 | ||
Sodexo | 5,337 | 425,118 | ||
Yum China Holdings, Inc. | 15,302 | 656,303 | ||
$1,351,502 | ||||
Specialty Chemicals – 3.9% | ||||
Axalta Coating Systems Ltd. (a) | 18,834 | $616,437 | ||
Chemours Co. | 17,169 | 337,714 | ||
Croda International PLC | 6,037 | 363,193 | ||
Essentra PLC | 294,728 | 619,810 | ||
Symrise AG | 9,744 | 995,841 | ||
$2,932,995 | ||||
Specialty Stores – 3.9% | ||||
Burlington Stores, Inc. (a) | 5,138 | $1,053,804 | ||
Multiplan Empreendimentos Imobiliarios S.A. | 166,795 | 886,133 | ||
NISHIMATSUYA CHAIN Co., Ltd. | 37,300 | 558,057 | ||
ZOZO, Inc. | 19,300 | 436,927 | ||
$2,934,921 | ||||
Telecommunications - Wireless – 0.9% | ||||
Wireless Infrastructure Italian S.p.A. | 64,090 | $708,962 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Trucking – 1.8% | ||||
Saia, Inc. (a) | 1,053 | $605,896 | ||
XPO, Inc. (a) | 6,445 | 775,463 | ||
$1,381,359 | ||||
Total Common Stocks (Identified Cost, $57,221,357) | $72,306,636 | |||
Investment Companies (h) – 2.9% | ||||
Money Market Funds – 2.9% | ||||
MFS Institutional Money Market Portfolio, 5.37% (v) (Identified Cost, $2,219,858) | 2,219,920 | $2,219,920 | ||
Collateral for Securities Loaned – 0.4% | ||||
State Street Navigator Securities Lending Government Money Market Portfolio, 5.34% (j) (Identified Cost, $283,926) | 283,926 | $283,926 | ||
Other Assets, Less Liabilities – 1.1% | 851,793 | |||
Net Assets – 100.0% | $75,662,275 |
(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 values of the fund's investments in affiliated issuers and in unaffiliated issuers were $2,219,920 and $72,590,562, respectively. | |||
(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. See Note 2 for additional information. | |||
(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. |
The following abbreviations are used in this report and are defined: | |
REIT | Real Estate Investment Trust |
Assets | |
Investments in unaffiliated issuers, at value, including $427,029 of securities on loan (identified cost, $57,505,283) | $72,590,562 |
Investments in affiliated issuers, at value (identified cost, $2,219,858) | 2,219,920 |
Foreign currency, at value (identified cost, $3) | 3 |
Receivables for | |
Investments sold | 1,179,844 |
Fund shares sold | 96,674 |
Interest and dividends | 140,620 |
Receivable from investment adviser | 21,423 |
Other assets | 42,416 |
Total assets | $76,291,462 |
Liabilities | |
Payables for | |
Investments purchased | $225,957 |
Fund shares reacquired | 50,390 |
Collateral for securities loaned, at value (c) | 283,926 |
Payable to affiliates | |
Administrative services fee | 116 |
Shareholder servicing costs | 16,311 |
Distribution and service fees | 545 |
Payable for independent Trustees' compensation | 566 |
Accrued expenses and other liabilities | 51,376 |
Total liabilities | $629,187 |
Net assets | $75,662,275 |
Net assets consist of | |
Paid-in capital | $68,478,404 |
Total distributable earnings (loss) | 7,183,871 |
Net assets | $75,662,275 |
Shares of beneficial interest outstanding | 3,391,990 |
(c) | Non-cash collateral is not included. |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $26,653,572 | 1,210,990 | $22.01 |
Class B | 1,353,314 | 68,507 | 19.75 |
Class C | 1,468,968 | 74,367 | 19.75 |
Class I | 19,676,959 | 869,824 | 22.62 |
Class R1 | 139,386 | 7,062 | 19.74 |
Class R2 | 192,843 | 9,069 | 21.27 |
Class R3 | 804,763 | 36,573 | 22.00 |
Class R4 | 189,025 | 8,349 | 22.64 |
Class R6 | 25,183,445 | 1,107,249 | 22.74 |
(a) | Maximum offering price per share was equal to the net asset value per share for all share classes, except for Class A, for which the maximum offering price per share was $23.35 [100 / 94.25 x $22.01]. On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6. |
Net investment income (loss) | |
Income | |
Dividends | $410,512 |
Dividends from affiliated issuers | 66,233 |
Income on securities loaned | 691 |
Interest | 46 |
Other | 2 |
Foreign taxes withheld | (24,984) |
Total investment income | $452,500 |
Expenses | |
Management fee | $336,761 |
Distribution and service fees | 46,874 |
Shareholder servicing costs | 32,874 |
Administrative services fee | 10,068 |
Independent Trustees' compensation | 1,671 |
Custodian fee | 12,155 |
Shareholder communications | 7,839 |
Audit and tax fees | 37,343 |
Legal fees | 178 |
Registration fees | 61,829 |
Miscellaneous | 15,665 |
Total expenses | $563,257 |
Reduction of expenses by investment adviser | (147,734) |
Net expenses | $415,523 |
Net investment income (loss) | $36,977 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $(1,379,168) |
Affiliated issuers | (65) |
Foreign currency | 1,863 |
Net realized gain (loss) | $(1,377,370) |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers | $6,370,928 |
Affiliated issuers | (142) |
Translation of assets and liabilities in foreign currencies | (1,140) |
Net unrealized gain (loss) | $6,369,646 |
Net realized and unrealized gain (loss) | $4,992,276 |
Change in net assets from operations | $5,029,253 |
Six months ended | Year ended | |
2/29/24 (unaudited) | 8/31/23 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $36,977 | $243,927 |
Net realized gain (loss) | (1,377,370) | (1,753,970) |
Net unrealized gain (loss) | 6,369,646 | 9,096,193 |
Change in net assets from operations | $5,029,253 | $7,586,150 |
Change in net assets from fund share transactions | $1,831,973 | $(2,518,809) |
Total change in net assets | $6,861,226 | $5,067,341 |
Net assets | ||
At beginning of period | 68,801,049 | 63,733,708 |
At end of period | $75,662,275 | $68,801,049 |
Class A | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $20.56 | $18.22 | $27.56 | $21.57 | $18.72 | $21.27 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.00)(w) | $0.05 | $(0.10) | $(0.06) | $(0.06) | $(0.03) |
Net realized and unrealized gain (loss) | 1.45 | 2.29 | (7.66) | 6.96 | 3.49 | (0.62) |
Total from investment operations | $1.45 | $2.34 | $(7.76) | $6.90 | $3.43 | $(0.65) |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $— | $— | $— | $(0.02) |
From net realized gain | — | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $— | $(1.58) | $(0.91) | $(0.58) | $(1.90) |
Net asset value, end of period (x) | $22.01 | $20.56 | $18.22 | $27.56 | $21.57 | $18.72 |
Total return (%) (r)(s)(t)(x) | 7.05(n) | 12.84 | (29.71) | 32.82 | 18.63 | (1.65) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.78(a) | 1.78 | 1.67 | 1.68 | 1.97 | 2.04 |
Expenses after expense reductions | 1.35(a) | 1.35 | 1.35 | 1.34 | 1.49 | 1.51 |
Net investment income (loss) | (0.04)(a)(l) | 0.26 | (0.45) | (0.26) | (0.32) | (0.16) |
Portfolio turnover | 22(n) | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $26,654 | $24,868 | $23,856 | $44,743 | $17,029 | $11,255 |
Class B | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $18.52 | $16.54 | $25.35 | $20.05 | $17.57 | $20.21 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.07) | $(0.09) | $(0.24) | $(0.25) | $(0.19) | $(0.16) |
Net realized and unrealized gain (loss) | 1.30 | 2.07 | (6.99) | 6.46 | 3.25 | (0.60) |
Total from investment operations | $1.23 | $1.98 | $(7.23) | $6.21 | $3.06 | $(0.76) |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $— | $— | $— | $— |
From net realized gain | — | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $— | $(1.58) | $(0.91) | $(0.58) | $(1.88) |
Net asset value, end of period (x) | $19.75 | $18.52 | $16.54 | $25.35 | $20.05 | $17.57 |
Total return (%) (r)(s)(t)(x) | 6.64(n) | 11.97 | (30.24) | 31.84 | 17.72 | (2.35) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.53(a) | 2.53 | 2.43 | 2.46 | 2.72 | 2.79 |
Expenses after expense reductions | 2.10(a) | 2.10 | 2.10 | 2.10 | 2.24 | 2.26 |
Net investment income (loss) | (0.79)(a)(l) | (0.52) | (1.15) | (1.12) | (1.08) | (0.91) |
Portfolio turnover | 22(n) | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $1,353 | $1,518 | $1,739 | $2,979 | $2,678 | $2,508 |
Class C | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $18.52 | $16.54 | $25.35 | $20.05 | $17.57 | $20.21 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.07) | $(0.09) | $(0.24) | $(0.25) | $(0.19) | $(0.16) |
Net realized and unrealized gain (loss) | 1.30 | 2.07 | (6.99) | 6.46 | 3.25 | (0.60) |
Total from investment operations | $1.23 | $1.98 | $(7.23) | $6.21 | $3.06 | $(0.76) |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $— | $— | $— | $— |
From net realized gain | — | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $— | $(1.58) | $(0.91) | $(0.58) | $(1.88) |
Net asset value, end of period (x) | $19.75 | $18.52 | $16.54 | $25.35 | $20.05 | $17.57 |
Total return (%) (r)(s)(t)(x) | 6.64(n) | 11.97 | (30.24) | 31.84 | 17.72 | (2.35) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.53(a) | 2.54 | 2.43 | 2.46 | 2.72 | 2.78 |
Expenses after expense reductions | 2.10(a) | 2.10 | 2.10 | 2.10 | 2.24 | 2.26 |
Net investment income (loss) | (0.79)(a)(l) | (0.54) | (1.16) | (1.13) | (1.08) | (0.91) |
Portfolio turnover | 22(n) | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $1,469 | $1,578 | $2,137 | $3,896 | $3,422 | $3,287 |
Class I | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $21.11 | $18.66 | $28.15 | $21.96 | $19.00 | $21.54 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.02 | $0.10 | $(0.06) | $(0.00)(w) | $(0.02) | $0.01 |
Net realized and unrealized gain (loss) | 1.49 | 2.35 | (7.83) | 7.10 | 3.56 | (0.62) |
Total from investment operations | $1.51 | $2.45 | $(7.89) | $7.10 | $3.54 | $(0.61) |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $(0.02) | $— | $— | $(0.05) |
From net realized gain | — | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $— | $(1.60) | $(0.91) | $(0.58) | $(1.93) |
Net asset value, end of period (x) | $22.62 | $21.11 | $18.66 | $28.15 | $21.96 | $19.00 |
Total return (%) (r)(s)(t)(x) | 7.15(n) | 13.13 | (29.55) | 33.16 | 18.94 | (1.41) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.53(a) | 1.54 | 1.40 | 1.43 | 1.72 | 1.76 |
Expenses after expense reductions | 1.10(a) | 1.10 | 1.10 | 1.09 | 1.24 | 1.26 |
Net investment income (loss) | 0.21(a)(l) | 0.50 | (0.26) | (0.02) | (0.09) | 0.05 |
Portfolio turnover | 22(n) | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $19,677 | $17,671 | $20,703 | $61,502 | $18,688 | $14,059 |
Class R1 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $18.51 | $16.53 | $25.33 | $20.04 | $17.56 | $20.20 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.07) | $(0.08) | $(0.23) | $(0.25) | $(0.19) | $(0.16) |
Net realized and unrealized gain (loss) | 1.30 | 2.06 | (6.99) | 6.45 | 3.25 | (0.60) |
Total from investment operations | $1.23 | $1.98 | $(7.22) | $6.20 | $3.06 | $(0.76) |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $— | $— | $— | $— |
From net realized gain | — | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $— | $(1.58) | $(0.91) | $(0.58) | $(1.88) |
Net asset value, end of period (x) | $19.74 | $18.51 | $16.53 | $25.33 | $20.04 | $17.56 |
Total return (%) (r)(s)(t)(x) | 6.65(n) | 11.98 | (30.22) | 31.80 | 17.73 | (2.35) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.53(a) | 2.53 | 2.43 | 2.45 | 2.72 | 2.79 |
Expenses after expense reductions | 2.10(a) | 2.10 | 2.10 | 2.09 | 2.24 | 2.26 |
Net investment income (loss) | (0.79)(a)(l) | (0.48) | (1.13) | (1.11) | (1.08) | (0.92) |
Portfolio turnover | 22(n) | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $139 | $130 | $114 | $160 | $120 | $101 |
Class R2 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $19.89 | $17.67 | $26.85 | $21.09 | $18.36 | $20.93 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.03) | $(0.00)(w) | $(0.13) | $(0.14) | $(0.11) | $(0.07) |
Net realized and unrealized gain (loss) | 1.41 | 2.22 | (7.47) | 6.81 | 3.42 | (0.62) |
Total from investment operations | $1.38 | $2.22 | $(7.60) | $6.67 | $3.31 | $(0.69) |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $— | $— | $— | $— |
From net realized gain | — | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $— | $(1.58) | $(0.91) | $(0.58) | $(1.88) |
Net asset value, end of period (x) | $21.27 | $19.89 | $17.67 | $26.85 | $21.09 | $18.36 |
Total return (%) (r)(s)(t)(x) | 6.94(n) | 12.56 | (29.91) | 32.47 | 18.33 | (1.89) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.03(a) | 2.04 | 1.94 | 1.95 | 2.22 | 2.29 |
Expenses after expense reductions | 1.60(a) | 1.60 | 1.60 | 1.59 | 1.74 | 1.76 |
Net investment income (loss) | (0.29)(a)(l) | (0.00) | (0.61) | (0.61) | (0.58) | (0.41) |
Portfolio turnover | 22(n) | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $193 | $179 | $225 | $237 | $178 | $218 |
Class R3 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $20.56 | $18.22 | $27.56 | $21.57 | $18.72 | $21.26 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.00)(w) | $0.07 | $(0.08) | $(0.09) | $(0.06) | $(0.03) |
Net realized and unrealized gain (loss) | 1.44 | 2.27 | (7.68) | 6.99 | 3.49 | (0.62) |
Total from investment operations | $1.44 | $2.34 | $(7.76) | $6.90 | $3.43 | $(0.65) |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $— | $— | $— | $(0.01) |
From net realized gain | — | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $— | $(1.58) | $(0.91) | $(0.58) | $(1.89) |
Net asset value, end of period (x) | $22.00 | $20.56 | $18.22 | $27.56 | $21.57 | $18.72 |
Total return (%) (r)(s)(t)(x) | 7.00(n) | 12.84 | (29.71) | 32.82 | 18.63 | (1.63) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.78(a) | 1.76 | 1.68 | 1.70 | 1.97 | 2.04 |
Expenses after expense reductions | 1.35(a) | 1.35 | 1.35 | 1.34 | 1.49 | 1.51 |
Net investment income (loss) | (0.04)(a)(l) | 0.34 | (0.37) | (0.35) | (0.31) | (0.16) |
Portfolio turnover | 22(n) | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $805 | $731 | $189 | $294 | $206 | $152 |
Class R4 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $21.13 | $18.67 | $28.15 | $21.96 | $19.00 | $21.56 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.03 | $0.08 | $(0.03) | $(0.03) | $(0.02) | $0.02 |
Net realized and unrealized gain (loss) | 1.48 | 2.38 | (7.85) | 7.13 | 3.56 | (0.64) |
Total from investment operations | $1.51 | $2.46 | $(7.88) | $7.10 | $3.54 | $(0.62) |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $(0.02) | $— | $— | $(0.06) |
From net realized gain | — | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $— | $(1.60) | $(0.91) | $(0.58) | $(1.94) |
Net asset value, end of period (x) | $22.64 | $21.13 | $18.67 | $28.15 | $21.96 | $19.00 |
Total return (%) (r)(s)(t)(x) | 7.15(n) | 13.18 | (29.53) | 33.16 | 18.94 | (1.43) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.53(a) | 1.56 | 1.43 | 1.45 | 1.72 | 1.78 |
Expenses after expense reductions | 1.10(a) | 1.10 | 1.10 | 1.09 | 1.24 | 1.26 |
Net investment income (loss) | 0.27(a)(l) | 0.41 | (0.13) | (0.11) | (0.08) | 0.08 |
Portfolio turnover | 22(n) | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $189 | $93 | $82 | $116 | $87 | $73 |
Class R6 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $21.21 | $18.73 | $28.24 | $22.01 | $19.03 | $21.58 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.03 | $0.12 | $(0.01) | $(0.00)(w) | $0.01 | $0.05 |
Net realized and unrealized gain (loss) | 1.50 | 2.36 | (7.88) | 7.14 | 3.55 | (0.64) |
Total from investment operations | $1.53 | $2.48 | $(7.89) | $7.14 | $3.56 | $(0.59) |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $(0.04) | $— | $— | $(0.08) |
From net realized gain | — | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $— | $(1.62) | $(0.91) | $(0.58) | $(1.96) |
Net asset value, end of period (x) | $22.74 | $21.21 | $18.73 | $28.24 | $22.01 | $19.03 |
Total return (%) (r)(s)(t)(x) | 7.21(n) | 13.24 | (29.49) | 33.27 | 19.01 | (1.26) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.43(a) | 1.43 | 1.33 | 1.37 | 1.62 | 1.69 |
Expenses after expense reductions | 1.00(a) | 1.01 | 1.00 | 1.01 | 1.15 | 1.16 |
Net investment income (loss) | 0.31(a)(l) | 0.62 | (0.03) | (0.01) | 0.03 | 0.24 |
Portfolio turnover | 22(n) | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $25,183 | $22,034 | $14,688 | $20,788 | $13,432 | $13,382 |
(a) | Annualized. |
(d) | Per share data is based on average shares outstanding. |
(l) | Recognition of net investment income by the fund may be affected by the timing of the declaration of dividends by companies in which the fund invests and the actual annual net investment income ratio may differ. |
(n) | Not annualized. |
(r) | Certain expenses have been reduced without which performance would have been lower. |
(s) | From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower. |
(t) | Total returns do not include any applicable sales charges. |
(w) | Per share amount was less than $0.01. |
(x) | The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
Equity Securities | $72,306,636 | $— | $— | $72,306,636 |
Mutual Funds | 2,503,846 | — | — | 2,503,846 |
Total | $74,810,482 | $— | $— | $74,810,482 |
Equity Securities | |
Balance as of 8/31/23 | $0 |
Realized gain (loss) | (747,538) |
Change in unrealized appreciation or depreciation | 1,010,785 |
Sales | (263,247) |
Balance as of 2/29/24 | $— |
As of 2/29/24 | |
Cost of investments | $60,793,795 |
Gross appreciation | 16,755,865 |
Gross depreciation | (2,739,178) |
Net unrealized appreciation (depreciation) | $14,016,687 |
As of 8/31/23 | |
Capital loss carryforwards | (5,489,994) |
Other temporary differences | (1,286) |
Net unrealized appreciation (depreciation) | 7,645,898 |
Short-Term | $(2,918,398) |
Long-Term | (2,571,596) |
Total | $(5,489,994) |
Up to $1 billion | 0.975% |
In excess of $1 billion and up to $2.5 billion | 0.90% |
In excess of $2.5 billion | 0.85% |
Classes | ||||||||
A | B | C | I | R1 | R2 | R3 | R4 | R6 |
1.35% | 2.10% | 2.10% | 1.10% | 2.10% | 1.60% | 1.35% | 1.10% | 1.01% |
Distribution Fee Rate (d) | Service Fee Rate (d) | Total Distribution Plan (d) | Annual Effective Rate (e) | Distribution and Service Fee | |
Class A | — | 0.25% | 0.25% | 0.25% | $ 30,723 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 6,705 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 7,441 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 645 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 443 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 917 |
Total Distribution and Service Fees | $46,874 |
(d) | In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each class’s average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting period. Any rate changes, if applicable, are detailed below. |
(e) | The annual effective rates represent actual fees incurred under the distribution plan for the six months ended February 29, 2024 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. There were no service fee rebates for the six months ended February 29, 2024. |
Amount | |
Class A | $35 |
Class B | 217 |
Class C | 14 |
Six months ended 2/29/24 | Year ended 8/31/23 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 91,837 | $1,881,707 | 238,781 | $4,470,571 | |
Class B | 527 | 10,351 | 2 | 27 | |
Class C | 2,411 | 42,359 | 8,249 | 145,346 | |
Class I | 134,360 | 2,853,505 | 283,232 | 5,449,784 | |
Class R1 | 20 | 351 | 160 | 2,720 | |
Class R2 | 172 | 3,400 | 1,132 | 20,714 | |
Class R3 | 1,377 | 28,225 | 25,873 | 453,360 | |
Class R4 | 3,961 | 88,541 | 7,477 | 128,454 | |
Class R6 | 154,193 | 3,226,811 | 483,983 | 9,930,084 | |
388,858 | $8,135,250 | 1,048,889 | $20,601,060 | ||
Shares reacquired | |||||
Class A | (90,171) | $(1,844,784) | (338,627) | $(6,243,871) | |
Class B | (13,965) | (247,654) | (23,187) | (394,481) | |
Class C | (13,207) | (247,215) | (52,329) | (868,786) | |
Class I | (101,656) | (2,146,423) | (555,645) | (10,854,907) | |
Class R1 | — | — | (5) | (89) | |
Class R2 | (91) | (1,781) | (4,901) | (91,970) | |
Class R3 | (339) | (6,907) | (728) | (14,346) | |
Class R4 | — | — | (7,477) | (150,789) | |
Class R6 | (85,678) | (1,808,513) | (229,366) | (4,500,630) | |
(305,107) | $(6,303,277) | (1,212,265) | $(23,119,869) | ||
Net change | |||||
Class A | 1,666 | $36,923 | (99,846) | $(1,773,300) | |
Class B | (13,438) | (237,303) | (23,185) | (394,454) | |
Class C | (10,796) | (204,856) | (44,080) | (723,440) | |
Class I | 32,704 | 707,082 | (272,413) | (5,405,123) | |
Class R1 | 20 | 351 | 155 | 2,631 | |
Class R2 | 81 | 1,619 | (3,769) | (71,256) | |
Class R3 | 1,038 | 21,318 | 25,145 | 439,014 | |
Class R4 | 3,961 | 88,541 | — | (22,335) | |
Class R6 | 68,515 | 1,418,298 | 254,617 | 5,429,454 | |
83,751 | $1,831,973 | (163,376) | $(2,518,809) |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $1,435,476 | $10,321,421 | $9,536,770 | $(65) | $(142) | $2,219,920 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $66,233 | $— |
Money Market Fund
Money Market Fund
1 | |
2 | |
3 | |
4 | |
5 | |
6 | |
7 | |
8 | |
14 | |
14 | |
14 | |
14 | |
14 |
back cover |
0 - 7 days | 32.2% |
8 - 29 days | 31.0% |
30 - 59 days | 12.4% |
60 - 89 days | 17.2% |
90 - 365 days | 7.2% |
Other Assets Less Liabilities (o) | (0.0)% |
A-1+ | 59.9% |
A-1 | 40.1% |
Other Assets Less Liabilities (o) | (0.0)% |
(a) | Ratings are assigned to portfolio securities utilizing ratings from Moody’s, Fitch, and Standard & Poor’s rating agencies and applying the following hierarchy: If all three agencies provide a rating, the middle rating (after dropping the highest and lowest ratings) is assigned; if two of the three agencies rate a security, the lower of the two is assigned. Ratings are shown in the S&P scale. All ratings are subject to change. The fund did not hold unrated securities. The fund is not rated by these agencies. |
(o) | Less than 0.1%. |
(u) | For purposes of this presentation, accrued interest, where applicable, is included. |
September 1, 2023 through February 29, 2024
Annualized Expense Ratio | Beginning Account Value 9/01/23 | Ending Account Value 2/29/24 | Expenses Paid During Period (p) 9/01/23-2/29/24 | |
Actual | 0.45% | $1,000.00 | $1,024.76 | $2.27 |
Hypothetical (h) | 0.45% | $1,000.00 | $1,022.63 | $2.26 |
(h) | 5% fund return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to the fund's annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
U.S. Government Agencies and Equivalents (y) – 73.4% | ||||
Fannie Mae, 5.24%, due 4/22/2024 | $18,850,000 | $18,709,232 | ||
Federal Farm Credit Bank, 5.29%, due 5/14/2024 | 7,950,000 | 7,864,697 | ||
Federal Farm Credit Bank, 5.16%, due 6/06/2024 | 12,000,000 | 11,835,423 | ||
Federal Home Loan Bank, 5.32%, due 3/18/2024 | 15,500,000 | 15,461,610 | ||
Federal Home Loan Bank, 5.33%, due 4/24/2024 | 15,600,000 | 15,476,916 | ||
Freddie Mac, 5.26%, due 3/18/2024 | 33,000,000 | 32,919,200 | ||
U.S. Treasury Bill, 5.29%, due 3/19/2024 | 18,800,000 | 18,750,937 | ||
U.S. Treasury Bill, 5.32%, due 3/05/2024 | 21,400,000 | 21,387,515 | ||
U.S. Treasury Bill, 5.27%, due 3/12/2024 | 11,900,000 | 11,881,109 | ||
U.S. Treasury Bill, 5.33%, due 3/26/2024 | 39,600,000 | 39,455,460 | ||
U.S. Treasury Bill, 5.34%, due 4/02/2024 | 13,300,000 | 13,237,726 | ||
U.S. Treasury Bill, 5.26%, due 4/30/2024 | 22,000,000 | 21,809,700 | ||
U.S. Treasury Bill, 5.29%, due 5/09/2024 | 17,700,000 | 17,522,878 | ||
U.S. Treasury Bill, 5.31%, due 5/23/2024 | 18,500,000 | 18,276,478 | ||
U.S. Treasury Bill, 5.15%, due 6/13/2024 | 16,000,000 | 15,765,307 | ||
Total U.S. Government Agencies and Equivalents, at Amortized Cost and Value | $280,354,188 | |||
Repurchase Agreements – 26.6% | ||||
BofA Securities, Inc. Repurchase Agreement, 5.29%, dated 2/29/2024, due 3/01/2024, total to be received $50,688,447 (secured by U.S. Treasury and/or U.S. Government Agency Securities valued at $51,823,830) | $50,681,000 | $50,681,000 | ||
Fixed Income Clearing Corp. – State Street Bank & Trust Co. Repurchase Agreement, 5.28%, dated 2/29/2024, due 3/01/2024, total to be received $50,688,102 (secured by U.S. Treasury and/or U.S. Government Agency Securities valued at $51,694,287) | 50,680,669 | 50,680,669 | ||
Total Repurchase Agreements, at Cost and Value | $101,361,669 | |||
Other Assets, Less Liabilities – (0.0)% | (857) | |||
Net Assets – 100.0% | $381,715,000 |
(y) | The rate shown represents an annualized yield at time of purchase. |
Assets | |
Investments in unaffiliated issuers, at cost and value | $280,354,188 |
Investments in unaffiliated repurchase agreements, at cost and value | 101,361,669 |
Receivables for | |
Fund shares sold | 511,952 |
Interest | 14,880 |
Receivable from investment adviser and distributor | 33,822 |
Other assets | 6,213 |
Total assets | $382,282,724 |
Liabilities | |
Payables for | |
Distributions | $3,676 |
Fund shares reacquired | 466,852 |
Payable to affiliates | |
Administrative services fee | 353 |
Shareholder servicing costs | 60,883 |
Payable for independent Trustees' compensation | 2,022 |
Accrued expenses and other liabilities | 33,938 |
Total liabilities | $567,724 |
Net assets | $381,715,000 |
Net assets consist of | |
Paid-in capital | $381,717,570 |
Total distributable earnings (loss) | (2,570) |
Net assets | $381,715,000 |
Shares of beneficial interest outstanding | 381,715,657 |
Net asset value per share (net assets of $381,715,000 / 381,715,657 shares of beneficial interest outstanding) | $1.00 |
Net investment income (loss) | |
Income | |
Interest | $10,499,679 |
Expenses | |
Management fee | $781,291 |
Shareholder servicing costs | 243,101 |
Administrative services fee | 32,905 |
Independent Trustees' compensation | 5,063 |
Custodian fee | 8,100 |
Shareholder communications | 7,266 |
Audit and tax fees | 24,267 |
Legal fees | 1,305 |
Miscellaneous | 51,788 |
Total expenses | $1,155,086 |
Fees paid indirectly | (8,100) |
Reduction of expenses by investment adviser | (275,101) |
Net expenses | $871,885 |
Net investment income (loss) | $9,627,794 |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $5,933 |
Change in net assets from operations | $9,633,727 |
Six months ended | Year ended | |
2/29/24 (unaudited) | 8/31/23 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $9,627,794 | $16,327,307 |
Net realized gain (loss) | 5,933 | — |
Change in net assets from operations | $9,633,727 | $16,327,307 |
Total distributions to shareholders | $(9,627,807) | $(16,327,307) |
Change in net assets from fund share transactions | $(7,007,635) | $(75,638,632) |
Total change in net assets | $(7,001,715) | $(75,638,632) |
Net assets | ||
At beginning of period | 388,716,715 | 464,355,347 |
At end of period | $381,715,000 | $388,716,715 |
Six months ended | Year ended | |||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.02 | $0.04 | $0.00(w) | $0.00 | $0.00(w) | $0.02 |
Net realized and unrealized gain (loss) | 0.00(w) | — | (0.00)(w) | 0.00(w) | 0.01 | 0.00(w) |
Total from investment operations | $0.02 | $0.04 | $0.00(w) | $0.00(w) | $0.01 | $0.02 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.02) | $(0.04) | $(0.00)(w) | $— | $(0.01) | $(0.02) |
From net realized gain | — | — | (0.00)(w) | — | — | — |
Total distributions declared to shareholders | $(0.02) | $(0.04) | $(0.00)(w) | $— | $(0.01) | $(0.02) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 2.48(n) | 3.81 | 0.27 | 0.00 | 0.61 | 1.70 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.59(a) | 0.57 | 0.59 | 0.55 | 0.60 | 0.62 |
Expenses after expense reductions (f) | 0.45(a) | 0.45 | 0.23 | 0.06 | 0.36 | 0.61 |
Net investment income (loss) | 4.93(a) | 3.70 | 0.31 | 0.00 | 0.45 | 1.69 |
Net assets at end of period (000 omitted) | $381,715 | $388,717 | $464,355 | $344,209 | $518,651 | $303,799 |
(a) | Annualized. |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. See Note 2 in the Notes to Financial Statements for additional information. |
(n) | Not annualized. |
(r) | Certain expenses have been reduced without which performance would have been lower. |
(t) | Total returns do not include any applicable sales charges. |
(w) | Per share amount was less than $0.01. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
Short-Term Securities | $— | $381,715,857 | $— | $381,715,857 |
Year ended 8/31/23 | |
Ordinary income (including any short-term capital gains) | $16,327,307 |
As of 2/29/24 | |
Cost of investments | $381,715,857 |
As of 8/31/23 | |
Undistributed ordinary income | 1,148 |
Capital loss carryforwards | (5,979) |
Other temporary differences | (3,659) |
Short-Term | $(5,979) |
Up to $1 billion | 0.40% |
In excess of $1 billion | 0.35% |
Six months ended 2/29/24 | Year ended 8/31/23 | ||
Shares sold | 88,648,277 | 224,642,194 | |
Shares issued to shareholders in reinvestment of distributions | 9,579,768 | 16,262,845 | |
Shares reacquired | (105,235,678) | (316,543,671) | |
Net change | (7,007,633) | (75,638,632) |
1 | |
2 | |
4 | |
9 | |
11 | |
12 | |
13 | |
19 | |
30 | |
30 | |
30 | |
30 | |
30 |
back cover |
Monolithic Power Systems, Inc. | 3.6% |
Cadence Design Systems, Inc. | 3.1% |
Vulcan Materials Co. | 2.6% |
AMETEK, Inc. | 2.6% |
Howmet Aerospace, Inc. | 2.4% |
MSCI, Inc. | 2.3% |
Verisk Analytics, Inc., “A” | 2.3% |
Synopsys, Inc. | 2.2% |
Copart, Inc. | 2.2% |
Gartner, Inc. | 2.2% |
Information Technology | 24.7% |
Industrials | 22.7% |
Health Care | 17.0% |
Consumer Discretionary | 12.6% |
Financials | 9.4% |
Communication Services | 4.7% |
Materials | 3.1% |
Real Estate | 2.2% |
Consumer Staples | 1.4% |
Energy | 1.3% |
Equity Warrants (o) | 0.0% |
(g) | The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. (“S&P Global Market Intelligence”). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS. |
(o) | Less than 0.1%. |
September 1, 2023 through February 29, 2024
Share Class | Annualized Expense Ratio | Beginning Account Value 9/01/23 | Ending Account Value 2/29/24 | Expenses Paid During Period (p) 9/01/23-2/29/24 | |
A | Actual | 1.02% | $1,000.00 | $1,161.81 | $5.48 |
Hypothetical (h) | 1.02% | $1,000.00 | $1,019.79 | $5.12 | |
B | Actual | 1.78% | $1,000.00 | $1,157.03 | $9.55 |
Hypothetical (h) | 1.78% | $1,000.00 | $1,016.01 | $8.92 | |
C | Actual | 1.78% | $1,000.00 | $1,157.23 | $9.55 |
Hypothetical (h) | 1.78% | $1,000.00 | $1,016.01 | $8.92 | |
I | Actual | 0.77% | $1,000.00 | $1,163.02 | $4.14 |
Hypothetical (h) | 0.77% | $1,000.00 | $1,021.03 | $3.87 | |
R1 | Actual | 1.78% | $1,000.00 | $1,157.41 | $9.55 |
Hypothetical (h) | 1.78% | $1,000.00 | $1,016.01 | $8.92 | |
R2 | Actual | 1.27% | $1,000.00 | $1,160.12 | $6.82 |
Hypothetical (h) | 1.27% | $1,000.00 | $1,018.55 | $6.37 | |
R3 | Actual | 1.02% | $1,000.00 | $1,161.71 | $5.48 |
Hypothetical (h) | 1.02% | $1,000.00 | $1,019.79 | $5.12 | |
R4 | Actual | 0.77% | $1,000.00 | $1,162.99 | $4.14 |
Hypothetical (h) | 0.77% | $1,000.00 | $1,021.03 | $3.87 | |
R6 | Actual | 0.65% | $1,000.00 | $1,163.62 | $3.50 |
Hypothetical (h) | 0.65% | $1,000.00 | $1,021.63 | $3.27 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 99.1% | ||||
Aerospace & Defense – 3.6% | ||||
Hexcel Corp. | 1,143,922 | $85,176,432 | ||
Howmet Aerospace, Inc. | 5,204,330 | 346,348,161 | ||
TransDigm Group, Inc. | 84,870 | 99,954,794 | ||
$531,479,387 | ||||
Automotive – 2.2% | ||||
Copart, Inc. (a) | 6,178,057 | $328,363,730 | ||
Brokerage & Asset Managers – 2.0% | ||||
Ares Management Co. | 942,108 | $124,951,784 | ||
LPL Financial Holdings, Inc. | 564,391 | 151,194,705 | ||
TPG, Inc. | 521,165 | 23,113,668 | ||
$299,260,157 | ||||
Business Services – 13.1% | ||||
CoStar Group, Inc. (a) | 3,093,258 | $269,206,244 | ||
Equifax, Inc. | 461,840 | 126,354,806 | ||
Factset Research Systems, Inc. | 313,404 | 144,974,422 | ||
FleetCor Technologies, Inc. (a) | 403,916 | 112,801,621 | ||
Morningstar, Inc. | 734,555 | 219,330,777 | ||
MSCI, Inc. | 603,698 | 338,656,467 | ||
TransUnion | 1,839,550 | 142,804,267 | ||
Tyler Technologies, Inc. (a) | 510,794 | 223,288,489 | ||
Verisk Analytics, Inc., “A” | 1,398,413 | 338,276,105 | ||
$1,915,693,198 | ||||
Computer Software – 8.4% | ||||
ANSYS, Inc. (a) | 317,269 | $106,021,782 | ||
Autodesk, Inc. (a) | 292,584 | 75,536,411 | ||
Bumble, Inc., “A” (a) | 930,948 | 10,659,354 | ||
Cadence Design Systems, Inc. (a) | 1,494,252 | 454,820,424 | ||
Datadog, Inc., “A” (a) | 1,242,278 | 163,309,866 | ||
Dun & Bradstreet Holdings, Inc. | 3,257,759 | 34,336,780 | ||
PTC, Inc. (a) | 279,561 | 51,162,458 | ||
Synopsys, Inc. (a) | 572,968 | 328,728,931 | ||
$1,224,576,006 | ||||
Computer Software - Systems – 6.4% | ||||
Arista Networks, Inc. (a) | 441,130 | $122,431,220 | ||
Constellation Software, Inc. | 102,075 | 284,183,148 | ||
Guidewire Software, Inc. (a) | 1,208,955 | 144,276,690 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Computer Software - Systems – continued | ||||
HubSpot, Inc. (a) | 251,369 | $155,549,651 | ||
ServiceNow, Inc. (a) | 305,354 | 235,531,754 | ||
$941,972,463 | ||||
Construction – 4.5% | ||||
AZEK Co., Inc. (a) | 4,085,855 | $196,570,484 | ||
Martin Marietta Materials, Inc. | 118,959 | 68,723,804 | ||
Vulcan Materials Co. | 1,452,572 | 386,166,266 | ||
$651,460,554 | ||||
Consumer Products – 1.4% | ||||
Church & Dwight Co., Inc. | 1,744,565 | $174,665,848 | ||
ODDITY Tech Ltd. (a)(l) | 831,195 | 35,059,805 | ||
$209,725,653 | ||||
Consumer Services – 1.6% | ||||
Bright Horizons Family Solutions, Inc. (a) | 2,007,164 | $230,542,857 | ||
Electrical Equipment – 5.0% | ||||
AMETEK, Inc. | 2,103,040 | $378,925,747 | ||
Hubbell, Inc. | 299,775 | 114,115,349 | ||
Littlefuse, Inc. | 254,908 | 60,729,282 | ||
nVent Electric PLC | 1,483,819 | 99,890,695 | ||
Rockwell Automation, Inc. | 263,674 | 75,168,184 | ||
$728,829,257 | ||||
Electronics – 6.0% | ||||
ASM International N.V. | 527,830 | $321,578,824 | ||
Entegris, Inc. | 249,724 | 33,552,916 | ||
Monolithic Power Systems, Inc. | 730,796 | 526,202,352 | ||
$881,334,092 | ||||
Energy - Independent – 1.3% | ||||
Chesapeake Energy Corp. | 1,317,378 | $109,052,551 | ||
Diamondback Energy, Inc. | 429,818 | 78,450,381 | ||
$187,502,932 | ||||
Engineering - Construction – 0.6% | ||||
Quanta Services, Inc. | 356,267 | $86,042,043 | ||
Entertainment – 1.8% | ||||
Spotify Technology S.A. (a) | 1,014,068 | $260,017,176 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Gaming & Lodging – 3.9% | ||||
DraftKings, Inc. (a) | 3,672,776 | $159,104,656 | ||
Hyatt Hotels Corp. | 1,551,655 | 238,318,691 | ||
Las Vegas Sands Corp. | 1,230,850 | 67,105,942 | ||
Red Rock Resorts, Inc. | 1,788,754 | 103,729,845 | ||
$568,259,134 | ||||
General Merchandise – 0.3% | ||||
Five Below, Inc. (a) | 197,132 | $39,560,450 | ||
Insurance – 1.8% | ||||
Arthur J. Gallagher & Co. | 1,092,789 | $266,564,021 | ||
Internet – 2.5% | ||||
Gartner, Inc. (a) | 701,648 | $326,659,243 | ||
Match Group, Inc. (a) | 1,156,215 | 41,669,989 | ||
$368,329,232 | ||||
Leisure & Toys – 2.3% | ||||
Electronic Arts, Inc. | 274,855 | $38,336,775 | ||
Take-Two Interactive Software, Inc. (a) | 2,071,743 | 304,401,199 | ||
$342,737,974 | ||||
Machinery & Tools – 2.7% | ||||
Ingersoll Rand, Inc. | 1,879,486 | $171,653,456 | ||
Wabtec Corp. | 1,551,567 | 219,220,902 | ||
$390,874,358 | ||||
Medical & Health Technology & Services – 4.8% | ||||
Chemed Corp. | 182,258 | $114,117,202 | ||
ICON PLC (a) | 750,542 | 240,638,776 | ||
IDEXX Laboratories, Inc. (a) | 258,168 | 148,505,979 | ||
Veeva Systems, Inc. (a) | 861,897 | 194,366,392 | ||
$697,628,349 | ||||
Medical Equipment – 10.2% | ||||
Agilent Technologies, Inc. | 1,619,339 | $222,432,405 | ||
Bio-Techne Corp. | 1,412,299 | 103,902,837 | ||
Bruker BioSciences Corp. | 2,707,741 | 234,327,906 | ||
DexCom, Inc. (a) | 1,626,230 | 187,130,286 | ||
Envista Holdings Corp. (a) | 558,061 | 11,523,960 | ||
Masimo Corp. (a) | 644,192 | 82,804,440 | ||
Natera, Inc. (a) | 1,429,957 | 123,676,981 | ||
STERIS PLC | 1,175,159 | 273,706,283 | ||
Waters Corp. (a) | 189,419 | 63,913,759 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Medical Equipment – continued | ||||
West Pharmaceutical Services, Inc. | 544,975 | $195,297,241 | ||
$1,498,716,098 | ||||
Pharmaceuticals – 2.1% | ||||
Argenx SE, ADR (a) | 104,756 | $39,808,328 | ||
Ascendis Pharma, ADR (a)(h) | 1,169,326 | 172,779,610 | ||
Legend Biotech Corp., ADR (a) | 1,339,933 | 87,310,034 | ||
$299,897,972 | ||||
Pollution Control – 0.9% | ||||
GFL Environmental, Inc. | 3,452,542 | $124,567,715 | ||
Printing & Publishing – 2.3% | ||||
Warner Music Group Corp. | 1,048,913 | $36,638,531 | ||
Wolters Kluwer N.V. | 1,946,395 | 306,819,354 | ||
$343,457,885 | ||||
Restaurants – 2.2% | ||||
Chipotle Mexican Grill, Inc., “A” (a) | 68,991 | $185,500,931 | ||
Wingstop, Inc. | 408,405 | 143,370,575 | ||
$328,871,506 | ||||
Specialty Stores – 4.6% | ||||
Lululemon Athletica, Inc. (a) | 318,720 | $148,870,925 | ||
O'Reilly Automotive, Inc. (a) | 210,978 | 229,421,697 | ||
Tractor Supply Co. | 417,880 | 106,275,242 | ||
Ulta Beauty, Inc. (a) | 344,949 | 189,225,223 | ||
$673,793,087 | ||||
Telecommunications - Wireless – 0.3% | ||||
SBA Communications Corp., REIT | 228,193 | $47,744,821 | ||
Trucking – 0.3% | ||||
Saia, Inc. (a) | 77,612 | $44,657,945 | ||
Total Common Stocks (Identified Cost, $8,765,801,575) | $14,512,460,052 |
Strike Price | First Exercise | |||
Warrants – 0.0% | ||||
Computer Software - Systems – 0.0% | ||||
Constellation Software, Inc. (CAD 100 principal amount of Series 2 Debentures for 1 warrant, Expiration 3/31/2040) (a)(Identified Cost, $0) | CAD 11.5 | N/A | 115,391 | $0 |
Issuer | Shares/Par | Value ($) | ||
Investment Companies (h) – 0.7% | ||||
Money Market Funds – 0.7% | ||||
MFS Institutional Money Market Portfolio, 5.37% (v) (Identified Cost, $104,380,272) | 104,380,747 | $104,380,746 | ||
Collateral for Securities Loaned – 0.2% | ||||
JPMorgan U.S. Government Money Market Fund - Class IM Shares, 5.25% (j) (Identified Cost, $27,517,600) | 27,517,600 | $27,517,600 | ||
Other Assets, Less Liabilities – 0.0% | 6,736,400 | |||
Net Assets – 100.0% | $14,651,094,798 |
(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 values of the fund's investments in affiliated issuers and in unaffiliated issuers were $277,160,356 and $14,367,198,042, respectively. | |||
(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. See Note 2 for additional information. | |||
(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. |
The following abbreviations are used in this report and are defined: | |
ADR | American Depositary Receipt |
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: | |
CAD | Canadian Dollar |
Assets | |
Investments in unaffiliated issuers, at value, including $27,636,673 of securities on loan (identified cost, $8,655,802,581) | $14,367,198,042 |
Investments in affiliated issuers, at value (identified cost, $241,896,866) | 277,160,356 |
Receivables for | |
Investments sold | 158,153,360 |
Fund shares sold | 19,780,426 |
Interest and dividends | 6,370,561 |
Other assets | 78,582 |
Total assets | $14,828,741,327 |
Liabilities | |
Payables for | |
Investments purchased | $133,726,293 |
Fund shares reacquired | 13,259,967 |
Collateral for securities loaned, at value | 27,517,600 |
Payable to affiliates | |
Investment adviser | 495,095 |
Administrative services fee | 3,368 |
Shareholder servicing costs | 2,251,593 |
Distribution and service fees | 38,662 |
Payable for independent Trustees' compensation | 18,879 |
Accrued expenses and other liabilities | 335,072 |
Total liabilities | $177,646,529 |
Net assets | $14,651,094,798 |
Net assets consist of | |
Paid-in capital | $8,875,376,824 |
Total distributable earnings (loss) | 5,775,717,974 |
Net assets | $14,651,094,798 |
Shares of beneficial interest outstanding | 471,516,816 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $1,771,311,662 | 60,917,716 | $29.08 |
Class B | 7,365,364 | 325,590 | 22.62 |
Class C | 82,726,840 | 3,783,779 | 21.86 |
Class I | 3,888,751,344 | 123,881,102 | 31.39 |
Class R1 | 3,128,194 | 139,023 | 22.50 |
Class R2 | 26,380,844 | 981,342 | 26.88 |
Class R3 | 662,795,829 | 22,949,312 | 28.88 |
Class R4 | 276,669,102 | 9,037,491 | 30.61 |
Class R6 | 7,931,965,619 | 249,501,461 | 31.79 |
(a) | Maximum offering price per share was equal to the net asset value per share for all share classes, except for Class A, for which the maximum offering price per share was $30.85 [100 / 94.25 x $29.08]. On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6. |
Net investment income (loss) | |
Income | |
Dividends | $32,241,631 |
Dividends from affiliated issuers | 8,742,028 |
Income on securities loaned | 397,599 |
Other | 106,595 |
Foreign taxes withheld | (60,677) |
Total investment income | $41,427,176 |
Expenses | |
Management fee | $41,716,186 |
Distribution and service fees | 3,177,698 |
Shareholder servicing costs | 4,010,066 |
Administrative services fee | 305,852 |
Independent Trustees' compensation | 63,340 |
Custodian fee | 219,817 |
Shareholder communications | 388,996 |
Audit and tax fees | 34,447 |
Legal fees | 33,977 |
Miscellaneous | 225,923 |
Total expenses | $50,176,302 |
Fees paid indirectly | (3,232) |
Reduction of expenses by investment adviser and distributor | (841,352) |
Net expenses | $49,331,718 |
Net investment income (loss) | $(7,904,542) |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $344,130,211 |
Affiliated issuers | 18,022 |
Foreign currency | (33,432) |
Net realized gain (loss) | $344,114,801 |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers | $1,664,281,817 |
Affiliated issuers | 60,242,061 |
Translation of assets and liabilities in foreign currencies | 11,680 |
Net unrealized gain (loss) | $1,724,535,558 |
Net realized and unrealized gain (loss) | $2,068,650,359 |
Change in net assets from operations | $2,060,745,817 |
Six months ended | Year ended | |
2/29/24 (unaudited) | 8/31/23 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $(7,904,542) | $3,667,814 |
Net realized gain (loss) | 344,114,801 | (225,145,025) |
Net unrealized gain (loss) | 1,724,535,558 | 1,583,140,947 |
Change in net assets from operations | $2,060,745,817 | $1,361,663,736 |
Change in net assets from fund share transactions | $(483,955,811) | $(1,488,530,966) |
Total change in net assets | $1,576,790,006 | $(126,867,230) |
Net assets | ||
At beginning of period | 13,074,304,792 | 13,201,172,022 |
At end of period | $14,651,094,798 | $13,074,304,792 |
Class A | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $25.03 | $22.55 | $31.84 | $24.65 | $20.19 | $19.16 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.05) | $(0.06) | $(0.15) | $(0.18) | $(0.07) | $(0.07) |
Net realized and unrealized gain (loss) | 4.10 | 2.54 | (8.02) | 7.60 | 4.71 | 1.83 |
Total from investment operations | $4.05 | $2.48 | $(8.17) | $7.42 | $4.64 | $1.76 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $29.08 | $25.03 | $22.55 | $31.84 | $24.65 | $20.19 |
Total return (%) (r)(s)(t)(x) | 16.18(n) | 11.00 | (26.53) | 30.30 | 23.16 | 10.13 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.04(a) | 1.04 | 1.03 | 1.01 | 1.05 | 1.10 |
Expenses after expense reductions (f) | 1.02(a) | 1.03 | 1.01 | 1.00 | 1.04 | 1.09 |
Net investment income (loss) | (0.39)(a) | (0.24) | (0.54) | (0.65) | (0.35) | (0.36) |
Portfolio turnover | 17(n) | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $1,771,312 | $1,560,931 | $1,477,097 | $2,130,372 | $1,483,320 | $1,065,566 |
Class B | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $19.55 | $17.75 | $25.48 | $19.91 | $16.47 | $15.90 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.11) | $(0.18) | $(0.28) | $(0.31) | $(0.19) | $(0.17) |
Net realized and unrealized gain (loss) | 3.18 | 1.98(g) | (6.33)(g) | 6.11 | 3.81 | 1.47 |
Total from investment operations | $3.07 | $1.80 | $(6.61) | $5.80 | $3.62 | $1.30 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $22.62 | $19.55 | $17.75 | $25.48 | $19.91 | $16.47 |
Total return (%) (r)(s)(t)(x) | 15.70(n) | 10.14 | (27.05) | 29.36 | 22.20 | 9.28 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.79(a) | 1.79 | 1.78 | 1.76 | 1.80 | 1.85 |
Expenses after expense reductions (f) | 1.78(a) | 1.78 | 1.76 | 1.75 | 1.79 | 1.84 |
Net investment income (loss) | (1.14)(a) | (0.99) | (1.30) | (1.39) | (1.10) | (1.12) |
Portfolio turnover | 17(n) | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $7,365 | $8,033 | $10,002 | $18,021 | $17,725 | $18,581 |
Class C | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $18.89 | $17.15 | $24.66 | $19.28 | $15.95 | $15.42 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.11) | $(0.17) | $(0.27) | $(0.30) | $(0.18) | $(0.16) |
Net realized and unrealized gain (loss) | 3.08 | 1.91(g) | (6.12)(g) | 5.91(g) | 3.69 | 1.42 |
Total from investment operations | $2.97 | $1.74 | $(6.39) | $5.61 | $3.51 | $1.26 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $21.86 | $18.89 | $17.15 | $24.66 | $19.28 | $15.95 |
Total return (%) (r)(s)(t)(x) | 15.72(n) | 10.15 | (27.06) | 29.34 | 22.23 | 9.31 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.79(a) | 1.79 | 1.78 | 1.76 | 1.80 | 1.85 |
Expenses after expense reductions (f) | 1.78(a) | 1.78 | 1.76 | 1.75 | 1.79 | 1.84 |
Net investment income (loss) | (1.14)(a) | (0.99) | (1.30) | (1.40) | (1.10) | (1.11) |
Portfolio turnover | 17(n) | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $82,727 | $76,216 | $85,842 | $137,007 | $109,521 | $78,858 |
Class I | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $26.99 | $24.26 | $34.07 | $26.30 | $21.48 | $20.28 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.02) | $0.00(w) | $(0.08) | $(0.12) | $(0.02) | $(0.02) |
Net realized and unrealized gain (loss) | 4.42 | 2.73 | (8.61) | 8.12 | 5.02 | 1.95 |
Total from investment operations | $4.40 | $2.73 | $(8.69) | $8.00 | $5.00 | $1.93 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $31.39 | $26.99 | $24.26 | $34.07 | $26.30 | $21.48 |
Total return (%) (r)(s)(t)(x) | 16.30(n) | 11.25 | (26.32) | 30.60 | 23.45 | 10.42 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.79(a) | 0.79 | 0.78 | 0.76 | 0.80 | 0.84 |
Expenses after expense reductions (f) | 0.77(a) | 0.78 | 0.77 | 0.75 | 0.79 | 0.83 |
Net investment income (loss) | (0.14)(a) | 0.01 | (0.28) | (0.40) | (0.10) | (0.09) |
Portfolio turnover | 17(n) | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $3,888,751 | $3,541,201 | $4,344,475 | $4,444,325 | $3,837,781 | $1,330,368 |
Class R1 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $19.44 | $17.65 | $25.35 | $19.81 | $16.39 | $15.82 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.11) | $(0.18) | $(0.28) | $(0.31) | $(0.18) | $(0.17) |
Net realized and unrealized gain (loss) | 3.17 | 1.97(g) | (6.30)(g) | 6.08 | 3.78 | 1.47 |
Total from investment operations | $3.06 | $1.79 | $(6.58) | $5.77 | $3.60 | $1.30 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $22.50 | $19.44 | $17.65 | $25.35 | $19.81 | $16.39 |
Total return (%) (r)(s)(t)(x) | 15.74(n) | 10.14 | (27.07) | 29.36 | 22.18 | 9.33 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.79(a) | 1.79 | 1.78 | 1.76 | 1.80 | 1.85 |
Expenses after expense reductions (f) | 1.78(a) | 1.78 | 1.76 | 1.75 | 1.79 | 1.84 |
Net investment income (loss) | (1.14)(a) | (0.99) | (1.30) | (1.39) | (1.09) | (1.12) |
Portfolio turnover | 17(n) | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $3,128 | $3,097 | $3,040 | $5,281 | $4,187 | $3,472 |
Class R2 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $23.17 | $20.93 | $29.70 | $23.06 | $18.95 | $18.08 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.08) | $(0.10) | $(0.20) | $(0.24) | $(0.12) | $(0.11) |
Net realized and unrealized gain (loss) | 3.79 | 2.34 | (7.45) | 7.11 | 4.41 | 1.71 |
Total from investment operations | $3.71 | $2.24 | $(7.65) | $6.87 | $4.29 | $1.60 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $26.88 | $23.17 | $20.93 | $29.70 | $23.06 | $18.95 |
Total return (%) (r)(s)(t)(x) | 16.01(n) | 10.70 | (26.70) | 30.00 | 22.83 | 9.84 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.29(a) | 1.29 | 1.28 | 1.26 | 1.30 | 1.35 |
Expenses after expense reductions (f) | 1.27(a) | 1.28 | 1.27 | 1.25 | 1.29 | 1.34 |
Net investment income (loss) | (0.64)(a) | (0.49) | (0.79) | (0.90) | (0.60) | (0.61) |
Portfolio turnover | 17(n) | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $26,381 | $23,393 | $21,633 | $29,120 | $15,176 | $11,060 |
Class R3 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $24.86 | $22.40 | $31.63 | $24.49 | $20.06 | $19.04 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.05) | $(0.05) | $(0.14) | $(0.18) | $(0.07) | $(0.06) |
Net realized and unrealized gain (loss) | 4.07 | 2.51 | (7.97) | 7.55 | 4.68 | 1.81 |
Total from investment operations | $4.02 | $2.46 | $(8.11) | $7.37 | $4.61 | $1.75 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $28.88 | $24.86 | $22.40 | $31.63 | $24.49 | $20.06 |
Total return (%) (r)(s)(t)(x) | 16.17(n) | 10.98 | (26.52) | 30.29 | 23.16 | 10.14 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.04(a) | 1.04 | 1.03 | 1.01 | 1.05 | 1.09 |
Expenses after expense reductions (f) | 1.02(a) | 1.03 | 1.01 | 1.00 | 1.04 | 1.09 |
Net investment income (loss) | (0.39)(a) | (0.24) | (0.54) | (0.65) | (0.35) | (0.34) |
Portfolio turnover | 17(n) | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $662,796 | $592,712 | $557,897 | $777,474 | $451,972 | $239,505 |
Class R4 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $26.32 | $23.66 | $33.25 | $25.67 | $20.97 | $19.82 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.02) | $0.00(w) | $(0.08) | $(0.12) | $(0.02) | $(0.02) |
Net realized and unrealized gain (loss) | 4.31 | 2.66 | (8.39) | 7.93 | 4.90 | 1.90 |
Total from investment operations | $4.29 | $2.66 | $(8.47) | $7.81 | $4.88 | $1.88 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $30.61 | $26.32 | $23.66 | $33.25 | $25.67 | $20.97 |
Total return (%) (r)(s)(t)(x) | 16.30(n) | 11.24 | (26.30) | 30.61 | 23.45 | 10.40 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.79(a) | 0.79 | 0.78 | 0.76 | 0.80 | 0.84 |
Expenses after expense reductions (f) | 0.77(a) | 0.78 | 0.76 | 0.75 | 0.79 | 0.83 |
Net investment income (loss) | (0.14)(a) | 0.01 | (0.29) | (0.40) | (0.10) | (0.08) |
Portfolio turnover | 17(n) | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $276,669 | $268,875 | $300,198 | $389,323 | $242,937 | $173,441 |
Class R6 | Six months ended | Year ended | ||||
2/29/24 (unaudited) | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $27.32 | $24.52 | $34.39 | $26.51 | $21.63 | $20.40 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.00)(w) | $0.04 | $(0.05) | $(0.09) | $(0.00)(w) | $(0.00)(w) |
Net realized and unrealized gain (loss) | 4.47 | 2.76 | (8.70) | 8.20 | 5.06 | 1.96 |
Total from investment operations | $4.47 | $2.80 | $(8.75) | $8.11 | $5.06 | $1.96 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $31.79 | $27.32 | $24.52 | $34.39 | $26.51 | $21.63 |
Total return (%) (r)(s)(t)(x) | 16.36(n) | 11.42 | (26.24) | 30.78 | 23.57 | 10.51 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.66(a) | 0.67 | 0.66 | 0.66 | 0.70 | 0.75 |
Expenses after expense reductions (f) | 0.65(a) | 0.65 | 0.65 | 0.65 | 0.69 | 0.74 |
Net investment income (loss) | (0.02)(a) | 0.14 | (0.18) | (0.30) | (0.01) | (0.01) |
Portfolio turnover | 17(n) | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $7,931,966 | $6,999,847 | $6,400,990 | $8,056,150 | $5,343,295 | $3,053,325 |
(a) | Annualized. |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. See Note 2 in the Notes to Financial Statements for additional information. |
(g) | The per share amount varies from the net realized and unrealized gain/loss for the period because of the timing of sales of fund shares and the per share amount of realized and unrealized gains and losses at such time. |
(n) | Not annualized. |
(r) | Certain expenses have been reduced without which performance would have been lower. |
(s) | From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower. |
(t) | Total returns do not include any applicable sales charges. |
(w) | Per share amount was less than $0.01. |
(x) | The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
Equity Securities: | ||||
United States | $13,140,353,234 | $— | $— | $13,140,353,234 |
Netherlands | 628,398,178 | — | — | 628,398,178 |
Canada | 408,750,863 | 0 | — | 408,750,863 |
Denmark | 172,779,610 | — | — | 172,779,610 |
China | 87,310,034 | — | — | 87,310,034 |
Belgium | 39,808,328 | — | — | 39,808,328 |
Israel | 35,059,805 | — | — | 35,059,805 |
Mutual Funds | 131,898,346 | — | — | 131,898,346 |
Total | $14,644,358,398 | $0 | $— | $14,644,358,398 |
As of 2/29/24 | |
Cost of investments | $8,914,345,597 |
Gross appreciation | 5,853,039,349 |
Gross depreciation | (123,026,548) |
Net unrealized appreciation (depreciation) | $5,730,012,801 |
As of 8/31/23 | |
Capital loss carryforwards | (262,818,736) |
Late year ordinary loss deferral | (176,108) |
Other temporary differences | (12,227) |
Net unrealized appreciation (depreciation) | 3,977,979,228 |
Short-Term | $(262,818,736) |
Up to $1 billion | 0.75% |
In excess of $1 billion and up to $2.5 billion | 0.70% |
In excess of $2.5 billion and up to $5 billion | 0.65% |
In excess of $5 billion and up to $10 billion | 0.62% |
In excess of $10 billion and up to $20 billion | 0.60% |
In excess of $20 billion | 0.55% |
Classes | ||||||||
A | B | C | I | R1 | R2 | R3 | R4 | R6 |
1.30% | 2.05% | 2.05% | 1.05% | 2.05% | 1.55% | 1.30% | 1.05% | 0.95% |
Distribution Fee Rate (d) | Service Fee Rate (d) | Total Distribution Plan (d) | Annual Effective Rate (e) | Distribution and Service Fee | |
Class A | — | 0.25% | 0.25% | 0.25% | $ 1,959,941 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 36,326 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 375,544 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 14,605 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 57,549 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 733,733 |
Total Distribution and Service Fees | $3,177,698 |
(d) | In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each class’s average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting period. Any rate changes, if applicable, are detailed below. |
(e) | The annual effective rates represent actual fees incurred under the distribution plan for the six months ended February 29, 2024 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended February 29, 2024, this rebate amounted to $119 for Class A shares and is included in the reduction of total expenses in the Statement of Operations. |
Amount | |
Class A | $7,950 |
Class B | 1,407 |
Class C | 2,641 |
Six months ended 2/29/24 | Year ended 8/31/23 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 3,489,384 | $90,192,930 | 6,793,284 | $157,786,486 | |
Class B | 615 | 11,949 | 4,974 | 93,494 | |
Class C | 226,146 | 4,386,558 | 339,404 | 5,947,419 | |
Class I | 11,389,820 | 317,928,241 | 32,405,384 | 802,020,268 | |
Class R1 | 9,041 | 180,623 | 28,035 | 508,425 | |
Class R2 | 104,765 | 2,504,889 | 200,572 | 4,328,218 | |
Class R3 | 1,656,723 | 42,779,730 | 3,483,597 | 79,637,903 | |
Class R4 | 451,563 | 12,202,947 | 1,244,875 | 30,125,069 | |
Class R6 | 21,800,776 | 609,029,481 | 47,356,728 | 1,192,536,320 | |
39,128,833 | $1,079,217,348 | 91,856,853 | $2,272,983,602 | ||
Shares reacquired | |||||
Class A | (4,933,177) | $(126,948,621) | (9,923,273) | $(229,185,981) | |
Class B | (86,031) | (1,698,490) | (157,611) | (2,852,374) | |
Class C | (476,857) | (9,248,559) | (1,310,183) | (22,895,214) | |
Class I | (18,719,372) | (509,735,301) | (80,289,596) | (1,995,690,788) | |
Class R1 | (29,310) | (577,768) | (40,959) | (738,986) | |
Class R2 | (133,037) | (3,075,527) | (224,530) | (4,795,328) | |
Class R3 | (2,548,011) | (64,236,024) | (4,547,088) | (105,133,340) | |
Class R4 | (1,629,764) | (42,045,152) | (3,718,861) | (87,895,279) | |
Class R6 | (28,554,071) | (805,607,717) | (52,147,027) | (1,312,327,278) | |
(57,109,630) | $(1,563,173,159) | (152,359,128) | $(3,761,514,568) | ||
Net change | |||||
Class A | (1,443,793) | $(36,755,691) | (3,129,989) | $(71,399,495) | |
Class B | (85,416) | (1,686,541) | (152,637) | (2,758,880) | |
Class C | (250,711) | (4,862,001) | (970,779) | (16,947,795) | |
Class I | (7,329,552) | (191,807,060) | (47,884,212) | (1,193,670,520) | |
Class R1 | (20,269) | (397,145) | (12,924) | (230,561) | |
Class R2 | (28,272) | (570,638) | (23,958) | (467,110) | |
Class R3 | (891,288) | (21,456,294) | (1,063,491) | (25,495,437) | |
Class R4 | (1,178,201) | (29,842,205) | (2,473,986) | (57,770,210) | |
Class R6 | (6,753,295) | (196,578,236) | (4,790,299) | (119,790,958) | |
(17,980,797) | $(483,955,811) | (60,502,275) | $(1,488,530,966) |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
Ascendis Pharma, ADR | $88,520,882 | $24,590,007 | $607,534 | $(7,643) | $60,283,898 | $172,779,610 |
MFS Institutional Money Market Portfolio | 419,936,182 | 441,453,137 | 756,992,401 | 25,665 | (41,837) | 104,380,746 |
$508,457,064 | $466,043,144 | $757,599,935 | $18,022 | $60,242,061 | $277,160,356 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
Ascendis Pharma, ADR | $— | $— |
MFS Institutional Money Market Portfolio | 8,742,028 | — |
$8,742,028 | $— |
Item 1(b):
Not applicable.
ITEM 2. CODE OF ETHICS.
The Registrant has adopted a Code of Ethics (the "Code") pursuant to Section 406 of the Sarbanes-Oxley Act and as defined in Form N-CSR that applies to the Registrant's principal executive officer and principal financial and accounting officer. During the period covered by this report, the Registrant has not amended any provision in the Code that relates to an element of the Code's definition enumerated in paragraph
(b)of Item 2 of this Form N-CSR. During the period covered by this report, the Registrant did not grant a waiver, including an implicit
waiver, from any provision of the Code. David L. DiLorenzo (Principal Executive Officer) and James O. Yost (Principal Financial Officer) were the two persons covered by the Code prior to April 1, 2024. Beginning April 1, 2024, David L. DiLorenzo (Principal Executive Officer) and Kasey L. Phillips (Principal Financial Officer) are the two persons covered by the Code.
A copy of the Code is attached hereto as EX-99.COE.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable for semi-annual reports.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not applicable for semi-annual reports.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable to the Registrant.
ITEM 6. INVESTMENTS
A schedule of investments for each series covered by this Form N-CSR is included as part of the report to shareholders of such series under Item 1(a) of this Form N-CSR.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable to the Registrant.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
There were no material changes to the procedures by which shareholders may send recommendations to the Board for nominees to the Registrant's Board since the Registrant last provided disclosure as to such procedures in response to the requirements of Item 407 (c)(2)(iv) of Regulation S-K or this Item.
ITEM 11. 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 report on Form N-CSR, the Registrant's principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the Registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.
(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 period covered by the report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.
ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.
ITEM 13. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.
Not Applicable.
ITEM 14. EXHIBITS.
(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Attached hereto as EX-99.COE.
(2)A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2): Attached hereto as EX-99.302CERT.
(3)Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable.
(4)Change in the registrant's independent public accountant. Not applicable.
(b)If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed "filed" for the purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference. Attached hereto as EX-99.906CERT.
Notice
A copy of the Amended and Restated Declaration of Trust, as amended, of the Registrant is on file with the Secretary of State of The Commonwealth of Massachusetts and notice is hereby given that this instrument is executed on behalf of the Registrant by an officer of the Registrant as an officer and not individually and the obligations of or arising out of this instrument are not binding upon any of the Trustees or shareholders individually, but are binding only upon the assets and property of the respective constituent series of the Registrant.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) MFS SERIES TRUST IV
By (Signature and Title)*
/S/ DAVID L. DILORENZO
David L. DiLorenzo, President
Date: April 12, 2024
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)*
/S/ DAVID L. DILORENZO
David L. DiLorenzo, President (Principal Executive Officer)
Date: April 12, 2024
By (Signature and Title)*
/S/ KASEY L. PHILLIPS
Kasey L. Phillips, Treasurer (Principal Financial Officer and Accounting Officer) Date: April 12, 2024
* Print name and title of each signing officer under his or her signature.