MFS Municipal Income R6 (MPMNX) NPORT-P MFS Mississippi Municipal Bond Fund (Jun 2024 report)

Quarterly Report

June 30, 2024

MFS^®Mississippi
Municipal Bond Fund

MMP-Q1

Portfolio of Investments

6/30/24 (unaudited)

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

Issuer		Shares/Par	Value ($)
Municipal Bonds – 100.0%
Airport Revenue – 1.6%
Denver, CO, City & County Airport System Rev., “A”, 4.125%, 11/15/2047	$	60,000	$57,845
Denver, CO, City & County Airport System Rev., “A”, 4.125%, 11/15/2053		55,000	52,455
New York Transportation Development Corp. Special Facilities (LaGuardia Airport Terminal B Redevelopment Project), “A”, 5%, 7/01/2034		230,000	230,228
New York Transportation Development Corp., Special Facilities Rev. (John F. Kennedy International Airport New Terminal One Project), AGM, 5.125%, 6/30/2060		475,000	491,608
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “B”, 5%, 12/01/2044		45,000	45,072
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “B”, BAM, 5%, 12/01/2039		230,000	230,709
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “C”, 5%, 12/01/2039		35,000	35,056
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “C”, 5%, 12/01/2044		60,000	60,039
			$1,203,012
General Obligations - General Purpose – 17.4%
Bridgeview, IL, Stadium and Redevelopment Projects, Taxable, AAC, 5.14%, 12/01/2036	$	220,000	$197,294
Chicago, IL, General Obligation, “F”, 5.5%, 1/01/2042		135,000	135,290
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 5.625%, 7/01/2029		41,212	44,201
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 5.75%, 7/01/2031		40,029	44,450
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2033		37,958	38,015
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2035		66,803	65,578
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2037		29,283	28,189
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2041		39,814	37,107
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2046		128,406	116,164
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Capital Appreciation, “A”, 0%, 7/01/2024		6,174	6,174
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Capital Appreciation, “A”, 0%, 7/01/2033		48,848	32,594
Mississippi Development Bank Special Obligation (Biloxi General Obligation), 4%, 3/01/2037		500,000	505,705
Mississippi Development Bank Special Obligation (Harrison County Coliseum), “A”, 5.25%, 1/01/2034		1,000,000	1,120,050
Mississippi Development Bank Special Obligation (Hattiesburg General Obligation), 4%, 2/01/2045		500,000	494,009
Mississippi Development Bank Special Obligation (Hattiesburg General Obligation), 5.25%, 2/01/2049		750,000	781,891
Mississippi Development Bank Special Obligation (Hinds County), 5%, 11/01/2032		500,000	483,445
Mississippi Development Bank Special Obligation (Hinds County), 4%, 11/01/2042		500,000	427,666
Mississippi Development Bank Special Obligation (Olive Branch Public Improvement), 4%, 6/01/2044 (w)		750,000	731,653
Mississippi Development Bank Special Obligation (Rankin County General Obligation Bond Project), 5%, 8/01/2034		350,000	378,680
Mississippi Development Bank Special Obligation (Rankin County), 5%, 3/01/2031		1,000,000	1,039,147
Mississippi Development Bank Special Obligation (Rankin County), 5%, 3/01/2032		1,000,000	1,039,203
Mississippi Development Bank Special Obligation (Tupelo Public Improvement), 5%, 9/01/2040		640,000	708,710
Mississippi Development Bank Special Obligation (Tupelo Public Improvement), 4%, 9/01/2044		275,000	273,394
Mississippi Development Bank Special Obligation (Vicksburg Sports Complex General Obligation Bond Project), BAM, 5%, 7/01/2048		1,000,000	1,031,439
Mississippi Development Bank Special Obligation Refunding, Taxable (Clay County Industrial Development Project), BAM, 2.955%, 3/01/2025		335,000	329,684
Pearl, MS, General Obligation Public Improvement, BAM, 4.75%, 9/01/2038		275,000	295,223
State of Illinois, General Obligation, 5.5%, 5/01/2039		150,000	164,201
State of Illinois, General Obligation, “B”, 5.5%, 5/01/2047		65,000	70,730
State of Mississippi, “A”, 5%, 11/01/2036 (Prerefunded 11/01/2026)		1,000,000	1,042,834
State of Mississippi, “B”, 5%, 12/01/2033 (Prerefunded 12/01/2026)		500,000	520,355
State of Mississippi, “B”, 3%, 10/01/2035		875,000	800,722
			$12,983,797
General Obligations - Schools – 12.1%
Little Rock, AR, School District & Construction, “A”, BAM, 3%, 2/01/2048	$	700,000	$551,686
Mississippi Development Bank Special Obligation (Canton Public School District), AGM, 5%, 12/01/2031 (Prerefunded 12/01/2025)		500,000	512,530
Mississippi Development Bank Special Obligation (Clinton Public School District), 4%, 4/01/2036		500,000	506,683
Mississippi Development Bank Special Obligation (Clinton Public School District), 4%, 4/01/2037		500,000	505,715
Mississippi Development Bank Special Obligation (Jackson Public School District), BAM, 5.25%, 10/01/2037		1,000,000	1,067,751
Mississippi Development Bank Special Obligation (Jackson Public School District), BAM, 5.25%, 10/01/2038		460,000	489,712

1

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds – continued
General Obligations - Schools – continued
Mississippi Development Bank Special Obligation (Meridian Public School District General Obligation Project), BAM, 4.125%, 4/01/2043	$	1,000,000	$999,623
Mississippi Development Bank Special Obligation (Oxford School District), 4%, 4/01/2044		350,000	344,702
Mississippi Development Bank Special Obligation (Petal School District), AGM, 5%, 5/01/2049		1,000,000	1,057,244
Mississippi Development Bank Special Obligation (Rankin County), 4%, 6/01/2043		750,000	731,912
Mississippi Development Bank Special Obligation (Vicksburg Warren School District General Obligation Project), BAM, 5%, 3/01/2048		500,000	513,749
San Diego, CA, Unified School District (Election of 2008), Capital Appreciation, “C”, 0%, 7/01/2035		1,020,000	700,493
Sunflower County, MI, Consolidated School District, General Obligation, BAM, 4%, 6/01/2038		1,000,000	1,007,869
			$8,989,669
Healthcare Revenue - Hospitals – 7.6%
Colorado Health Facilities Authority Rev. (CommonSpirit Health), “A-2”, 4%, 8/01/2049	$	20,000	$18,969
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital at Gulfport Project), 5%, 7/01/2027		500,000	499,584
Harris County, TX, Cultural Education Facilities Finance Corp., Hospital Rev. (Memorial Hermann Health System), “A”, 4.125%, 7/01/2052		470,000	448,556
Mississippi Hospital Equipment & Facilities Authority Refunding Rev. (Baptist Memorial Health Care Corp.), “A-2”, 4.125%, 9/01/2036 (Put Date 8/28/2024)		1,000,000	1,000,641
Mississippi Hospital Equipment & Facilities Authority Rev. (Baptist Memorial Healthcare), “A”, 5%, 9/01/2044 (Put Date 9/01/2025)		500,000	503,620
Mississippi Hospital Equipment & Facilities Authority Rev. (Forrest County General Hospital Refunding Project), “A”, 4%, 1/01/2040		1,000,000	956,403
Mississippi Hospital Equipment & Facilities Authority Rev. (North Mississippi Health Services), “IV”, 5%, 10/01/2037		1,500,000	1,583,633
Spartanburg County, SC, Regional Health Services District Hospital Rev., “A”, 4%, 4/15/2043		655,000	627,528
			$5,638,934
Industrial Revenue - Environmental Services – 0.7%
Mississippi Business Finance Corp., Solid Waste Disposal Rev. (Waste Management Inc. Project), 4.25%, 3/01/2027	$	500,000	$499,975
Industrial Revenue - Other – 0.7%
Mississippi Development Bank Special Obligation (Jackson County GOMESA Project), 3.625%, 11/01/2036 (n)	$	500,000	$470,979
Port Beaumont, TX, Navigation District, Dock & Wharf Facility Rev. (Jefferson Gulf Coast Energy Project), “A”, 2.875%, 1/01/2041 (n)		100,000	76,400
			$547,379
Industrial Revenue - Paper – 1.3%
Warren County, MS, Environmental Improvement Rev. (International Paper Co. Project), “B”, 1.6%, 8/01/2027 (Put Date 6/16/2025)	$	1,000,000	$977,556
Miscellaneous Revenue - Other – 0.8%
Matching Fund Special Purpose Securitization Corp., “A”, 5%, 10/01/2026	$	35,000	$35,767
New York Liberty Development Corp., Liberty Rev. (3 World Trade Center Project), “1”, 5%, 11/15/2044 (n)		210,000	210,199
Pennsylvania Economic Development Financing Authority, Private Activity Rev. (PennDOT Major Bridges Package One Project), AGM, 5%, 12/31/2057		310,000	319,953
			$565,919
Multi-Family Housing Revenue – 1.5%
National Finance Authority, NH, Municipal Certificates, “1-A”, 4.375%, 9/20/2036	$	240,398	$238,887
New York, NY, Housing Development Corp., Multi-Family Housing Rev. (Sustainable Development Bonds), “G”, FHA, 2.45%, 11/01/2045		650,000	458,540
Virginia Housing Development Authority, Rental Housing, “F”, HUD Section 8, 5.15%, 11/01/2048		385,000	397,615
			$1,095,042
Sales & Excise Tax Revenue – 5.4%
Chicago, IL, Metropolitan Pier & Exposition Authority Refunding Bonds (McCormick Place Expansion Project), Capital Appreciation, “B-1”, AGM, 0%, 6/15/2044	$	905,000	$367,322
Guam Government Business Privilege Tax Refunding, “F”, 5%, 1/01/2031		5,000	5,332
Guam Government Business Privilege Tax Refunding, “F”, 4%, 1/01/2042		70,000	67,325
Guam Government Business Privilege Tax Rev., “D”, 5%, 11/15/2031		270,000	273,404

2

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds – continued
Sales & Excise Tax Revenue – continued
Massachusetts Bay Transportation Authority, Sales Tax Rev., “A-1”, 5.25%, 7/01/2029	$	750,000	$826,684
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-1”, 4.55%, 7/01/2040		20,000	20,075
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-1”, 4.75%, 7/01/2053		71,000	69,966
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-1”, 5%, 7/01/2058		1,310,000	1,304,900
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-2”, 4.329%, 7/01/2040		162,000	159,828
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-2”, 4.329%, 7/01/2040		71,000	70,048
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-2”, 4.536%, 7/01/2053		1,000	952
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-2”, 4.784%, 7/01/2058		234,000	230,290
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2024		1,000	1,000
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2029		7,000	5,776
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2031		346,000	262,641
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2033		330,000	229,428
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2046		150,000	48,238
Wisconsin Public Finance Authority Limited Obligation Grant Rev. (American Dream at Meadowlands Project), “A”, 6.25%, 8/01/2027 (a)(d)(n)		115,000	89,700
			$4,032,909
Single Family Housing - State – 13.7%
Mississippi Home Corp., Homeownership Mortgage Rev.., GNMA, 4.65%, 12/01/2054	$	1,750,000	$1,748,063
Mississippi Home Corp., Single Family Mortgage Rev., “A”, GNMA, 3%, 6/01/2050		420,000	404,657
Mississippi Home Corp., Single Family Mortgage Rev., “A”, GNMA, 3%, 12/01/2050		1,030,000	996,968
Mississippi Home Corp., Single Family Mortgage Rev., “A”, GNMA, 5.25%, 12/01/2053		980,000	1,025,929
Mississippi Home Corp., Single Family Mortgage Rev., “B”, GNMA, 2.875%, 12/01/2043		1,000,000	807,092
Mississippi Home Corp., Single Family Mortgage Rev., “B”, GNMA, 3%, 6/01/2051		790,000	763,089
Mississippi Home Corp., Single Family Mortgage Rev., “C”, GNMA, 3.95%, 12/01/2042		1,000,000	978,528
Mississippi Home Corp., Single Family Mortgage Rev., “C”, GNMA, 4.65%, 12/01/2044		750,000	759,004
Mississippi Home Corp., Single Family Mortgage Rev., “C”, GNMA, 4.05%, 12/01/2047		1,000,000	952,265
Mississippi Home Corp., Single Family Mortgage Rev., “C”, GNMA, 4.65%, 12/01/2048		1,000,000	997,446
Mississippi Home Corp., Single Family Mortgage Rev., “C”, GNMA, 4.8%, 12/01/2049		750,000	756,001
			$10,189,042
State & Local Agencies – 5.8%
Mississippi Development Bank Special Obligation (Montfort Jones Memorial Hospital Project), 5.75%, 5/01/2036	$	500,000	$500,376
Mississippi Development Bank Special Obligation (Tupelo Public Improvement Rev. Project), 5%, 7/01/2049		1,500,000	1,554,366
Mississippi Development Bank Special Obligation Refunding, Taxable (Desoto County Highway Project), 2.358%, 1/01/2026		590,000	566,373
Warren County, MS, Certificates of Participation (Lease Purchase Jail Project), BAM, 6%, 9/01/2048		750,000	857,342
Warren County, MS, Certificates of Participation (Lease Purchase Jail Project), BAM, 6%, 9/01/2053		750,000	848,250
			$4,326,707
Student Loan Revenue – 0.7%
Iowa Student Loan Liquidity Corp. Rev., “B”, 3%, 12/01/2039	$	10,000	$9,373
Iowa Student Loan Liquidity Corp. Rev., “C”, 3.5%, 12/01/2044		110,000	90,210
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., “B”, 4%, 12/01/2041		420,000	402,596
			$502,179
Tax - Other – 4.0%
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5.75%, 4/01/2035	$	350,000	$368,856
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5%, 4/01/2045		65,000	69,064
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5.75%, 4/01/2048		150,000	166,867
State of Mississippi, Gaming Tax Rev., “A”, 4%, 10/15/2038		1,000,000	988,299
State of Mississippi, Gaming Tax Rev., “E”, 5%, 10/15/2030		1,000,000	1,011,078
Triborough Bridge & Tunnel Authority Rev., NY, Payroll Mobility Tax (MTA Bridges and Tunnels), ”C-3“, 3%, 5/15/2051		545,000	415,328
			$3,019,492
Tobacco – 0.9%
Buckeye, OH, Tobacco Settlement Financing Authority Senior Asset-Backed Refunding, 2020A-2, “1”, 4%, 6/01/2048	$	265,000	$244,244
Buckeye, OH, Tobacco Settlement Financing Authority Senior Asset-Backed Refunding, 2020B-2, “2”, 5%, 6/01/2055		185,000	170,544
Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Taxable, “B-1”, 3.85%, 6/01/2050		245,000	229,779
			$644,567

3

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds – continued
Toll Roads – 0.3%
Virginia Small Business Financing Authority Senior Lien Rev. (Elizabeth River Crossings Opco LLC Project), 3%, 1/01/2041	$	280,000	$229,462
Universities - Colleges – 11.2%
Massachusetts Development Finance Agency Rev. (Suffolk University), 4%, 7/01/2051	$	370,000	$311,962
Medical Center, Educational Building Corp. Rev. (Colony Park Teaching Campus), “A”, 4%, 6/01/2053		1,000,000	951,118
Mississippi Development Bank Special Obligation (Northwest Mississippi Community College Improvement Project), 4%, 3/01/2050		435,000	407,302
Mississippi State University, Educational Building Corp. Refunding Rev. (Mississippi State University Facilities Refinancing), “A”, 4%, 8/01/2043		600,000	600,059
Mississippi State University, Educational Building Corp. Rev. (New Residence Hall and Facilities Refinancing), 4%, 8/01/2049		750,000	725,945
Mississippi State University, Educational Building Corp. Rev. (New Residence Hall and Facilities Refinancing), 5%, 8/01/2053		750,000	811,242
University of Mississippi Medical Center, Educational Building Corp. Rev. (New Facilities & Refinancing Project), “A”, 5%, 6/01/2042		1,250,000	1,280,984
University of Mississippi Medical Center, Educational Building Corp. Rev. (New Facilities & Refinancing Project), “A”, 4%, 6/01/2047		1,000,000	948,291
University of Mississippi Medical Center, Educational Building Corp. Rev. (New Facilities & Refinancing Project), “A”, 5%, 6/01/2047		1,250,000	1,272,394
University of Mississippi, Educational Building Corp. Rev. (New Facilities Project), 4.5%, 10/01/2052		1,000,000	1,008,030
			$8,317,327
Utilities - Investor Owned – 0.4%
Mississippi Business Finance Corp. Refunding Rev. (System Energy Resources, Inc. Project), 2.375%, 6/01/2044	$	500,000	$308,332
Utilities - Municipal Owned – 3.2%
Guam Power Authority Rev., “A”, AGM, 5%, 10/01/2033	$	315,000	$316,005
Guam Power Authority Rev., “A”, AGM, 5%, 10/01/2039		75,000	75,176
Guam Power Authority Rev., “A”, AGM, 5%, 10/01/2044		85,000	85,121
Mississippi Development Bank Special Obligation (Municipal Energy Agency Power Supply Project), AGM, 5%, 3/01/2035		500,000	510,342
Puerto Rico Electric Power Authority Refunding Rev., “DDD”, 5%, 7/01/2020 (a)(d)		10,000	5,013
Puerto Rico Electric Power Authority Rev., “A”, 5%, 7/01/2029 (a)(d)		240,000	120,300
Puerto Rico Electric Power Authority Rev., “AAA”, 5.25%, 7/01/2021 (a)(d)		20,000	10,025
Puerto Rico Electric Power Authority Rev., “AAA”, 5.25%, 7/01/2030 (a)(d)		10,000	5,013
Puerto Rico Electric Power Authority Rev., “CCC”, 5.25%, 7/01/2027 (a)(d)		90,000	45,112
Puerto Rico Electric Power Authority Rev., “DDD”, 3.65%, 7/01/2024		80,000	80,000
Puerto Rico Electric Power Authority Rev., “SS”, AGM, 4.375%, 7/01/2030		15,000	14,620
Puerto Rico Electric Power Authority Rev., “TT”, 5%, 7/01/2021 (a)(d)		40,000	20,050
Puerto Rico Electric Power Authority Rev., “TT”, 5%, 7/01/2027 (a)(d)		5,000	2,506
Puerto Rico Electric Power Authority Rev., “TT”, 5%, 7/01/2037 (a)(d)		120,000	60,150
Puerto Rico Electric Power Authority Rev., “UU”, 5%, 7/01/2024		500,000	500,000
Puerto Rico Electric Power Authority Rev., “UU”, AGM, 4.25%, 7/01/2027		60,000	58,779
Puerto Rico Electric Power Authority Rev., “VV”, NPFG, 5.25%, 7/01/2030		105,000	103,621
Puerto Rico Electric Power Authority Rev., “VV”, NPFG, 5.25%, 7/01/2034		10,000	9,893
Puerto Rico Electric Power Authority Rev., “WW”, 5.375%, 7/01/2022 (a)(d)		10,000	5,013
Puerto Rico Electric Power Authority Rev., “WW”, 5.25%, 7/01/2025 (a)(d)		15,000	7,519
Puerto Rico Electric Power Authority Rev., “ZZ”, 5.25%, 7/01/2023 (a)(d)		65,000	32,581
Puerto Rico Electric Power Authority Rev., “ZZ”, 5.25%, 7/01/2024 (a)(d)		20,000	10,025
Puerto Rico Electric Power Authority Rev., “ZZ”, 5.25%, 7/01/2026 (a)(d)		60,000	30,075
Puerto Rico Electric Power Authority Rev., Taxable, “EEE”, 6.05%, 7/01/2032 (a)(d)		50,000	25,062
Texas Municipal Power Agency, Transmission System Rev., AGM, 2%, 9/01/2033		355,000	289,059
			$2,421,060
Utilities - Other – 1.8%
California Community Choice Financing Authority, Clean Energy Project Rev., “C”, 5.25%, 1/01/2054 (Put Date 10/01/2031)	$	460,000	$484,780
Southeast Alabama Energy, Cooperative District Energy Supply Rev., “A-1”, 5.5%, 11/01/2053 (Put Date 1/01/2031)		560,000	602,936
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.5%, 10/01/2053 (Put Date 12/01/2030)		265,000	283,139
			$1,370,855

4

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds – continued
Water & Sewer Utility Revenue – 8.9%
Guam Waterworks Authority Rev. (Water and Wastewater System), 5%, 1/01/2046	$	145,000	$147,326
Guam Waterworks Authority Rev. (Water and Wastewater System), “A”, 5%, 1/01/2050		120,000	123,276
Jackson County, MS, Utility Authority Rev. (Water and Wastewater Treatment System), AGM, 5%, 9/01/2040		2,000,000	2,016,917
Michigan Finance Authority Local Government Loan Program Rev. (Detroit Water and Sewerage Department Sewage Disposal System Rev. Refunding Second Lien Local Project), “C-7”, NPFG, 5%, 7/01/2032		25,000	25,019
Michigan Finance Authority Local Government Loan Program Rev. (Detroit Water and Sewerage Department Water Supply System Rev. Refunding Second Lien Local Project), “D-6”, NPFG, 5%, 7/01/2036		30,000	30,023
Michigan Finance Authority Local Government Loan Program Rev. (Detroit Water and Sewerage Department Water Supply System Rev. Refunding Senior Lien Local Project), “D-1”, AGM, 5%, 7/01/2037		35,000	35,027
Mississippi Development Bank Special Obligation (Jackson Water and Sewer System Rev. Bond Project), AGM, 6.875%, 12/01/2040		750,000	752,690
Mississippi Development Bank Special Obligation (Meridian Combined Water and Sewer Rev. Project), BAM, 4%, 7/01/2045		1,105,000	1,061,195
Mississippi Development Bank Special Obligation (Meridian Combined Water and Sewer Rev. Project), BAM, 4%, 7/01/2050		1,500,000	1,381,851
West Rankin, MS, Utility Authority Rev., AGM, 5%, 1/01/2048 (Prerefunded 1/01/2028)		1,000,000	1,067,288
			$6,640,612
Total Municipal Bonds			$74,503,827
Bonds – 0.3%
Transportation - Services – 0.3%
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2025 (n)	$	161,000	$154,340
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2043 (n)		272,761	81,256
Total Bonds			$235,596
Contingent Value Instruments – 0.1%
General Obligations - General Purpose – 0.1%
Commonwealth of Puerto Rico, General Obligation Contingent Value Instrument, 11/01/2043	$	168,252	$103,054
Investment Companies (h) – 0.2%
Money Market Funds – 0.2%
MFS Institutional Money Market Portfolio, 5.39% (v)		112,963	$112,974
Other Assets, Less Liabilities – (0.6)%			(461,436)
Net Assets – 100.0%			$74,494,015

(a)	Non-income producing security.
(d)	In default.
(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 $112,974 and $74,842,477, respectively.
(n)	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $1,082,874, representing 1.5% of net assets.
(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.
(w)	When-issued security.

The following abbreviations are used in this report and are defined:
AAC	Ambac Assurance Corp.
AGM	Assured Guaranty Municipal
BAM	Build America Mutual
FHA	Federal Housing Administration
GNMA	Government National Mortgage Assn.
NPFG	National Public Finance Guarantee Corp.

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

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Supplemental Information

6/30/24 (unaudited)

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

(1) Investment Valuations

Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund’s investments to MFS as the fund's adviser, pursuant to the fund’s valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the “valuation designee” of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser’s fair valuation policy and procedures.

Under the fund's valuation policy and procedures, debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share.

Under the fund’s valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser’s fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment’s value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund’s net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund’s net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund’s net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of June 30, 2024 in valuing the fund's assets and liabilities:

Financial Instruments	Level 1	Level 2	Level 3	Total
Municipal Bonds	$—	$74,606,881	$—	$74,606,881
U.S. Corporate Bonds	—	235,596	—	235,596
Mutual Funds	112,974	—	—	112,974
Total	$112,974	$74,842,477	$—	$74,955,451

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

(2) Investments in Affiliated Issuers

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

Affiliated Issuers	Beginning Value	Purchases	Sales Proceeds	Realized Gain (Loss)	Change in Unrealized Appreciation or Depreciation	Ending Value
MFS Institutional Money Market Portfolio	$589,587	$4,185,593	$4,662,190	$90	$(106)	$112,974

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Supplemental Information (unaudited) – continued

Affiliated Issuers	Dividend Income	Capital Gain Distributions
MFS Institutional Money Market Portfolio	$8,101	$—

(3) Jurisdiction Weightings

Jurisdiction weighting percentages based on net assets, as of June 30, 2024, are as follows:

Mississippi	78.8%
Puerto Rico	5.6%
New York	2.4%
Illinois	2.1%
California	1.9%
Massachusetts	1.6%
Guam	1.5%
Virginia	1.2%
Texas	1.1%
Alabama	0.8%
Arkansas	0.8%
South Carolina	0.8%
Michigan	0.6%
Ohio	0.6%
New Jersey	0.5%
Pennsylvania	0.4%
Tennessee	0.4%
New Hampshire	0.3%
Colorado	0.2%
Iowa	0.1%
Wisconsin	0.1%
U.S. Virgin Islands (o)	0.0%

(o) Less than 0.1%

The jurisdiction weighting percentages include both accrued interest amounts and equivalent exposure from any derivatives holdings, if applicable.

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