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

Quarterly Report

June 30, 2024

MFS^®South Carolina
Municipal Bond Fund

MSC-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 – 95.2%
Airport Revenue – 3.3%
Charleston County, SC, Airport District Rev., 5%, 7/01/2039	$	450,000	$478,177
Charleston County, SC, Airport District Rev., 5%, 7/01/2043		1,250,000	1,318,061
Charleston County, SC, Airport District Rev., 5%, 7/01/2048		1,500,000	1,563,320
Denver, CO, City & County Airport System Rev., “A”, 4.125%, 11/15/2047		160,000	154,254
Denver, CO, City & County Airport System Rev., “A”, 4.125%, 11/15/2053		150,000	143,058
Horry County, SC, Airport Refunding Rev., 4%, 7/01/2040		2,070,000	2,069,823
New York Transportation Development Corp., Special Facilities Rev. (John F. Kennedy International Airport New Terminal One Project), AGM, 5.25%, 6/30/2060		1,000,000	1,046,983
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “B”, 5%, 12/01/2044		90,000	90,144
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “B”, BAM, 5%, 12/01/2039		10,000	10,031
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “C”, 5%, 12/01/2039		75,000	75,120
Wayne County, MI, Airport Authority Rev. (Detroit Metropolitan Wayne County Airport), “C”, 5%, 12/01/2044		120,000	120,078
			$7,069,049
General Obligations - General Purpose – 4.3%
Bridgeview, IL, Stadium and Redevelopment Projects, Taxable, AAC, 5.14%, 12/01/2036	$	475,000	$425,975
Charleston, SC, Public Finance Corp., Installment Purchase Rev. (City of Charleston Project), 5%, 9/01/2039		750,000	855,037
Chicago, IL, General Obligation, “A”, 5%, 1/01/2025		325,000	326,621
Chicago, IL, General Obligation, “A”, 5.5%, 1/01/2040		785,000	849,257
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 5.625%, 7/01/2029		97,904	105,003
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 5.75%, 7/01/2031		330,093	366,548
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2033		90,173	90,308
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2035		170,651	167,522
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2037		69,565	66,966
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2041		94,583	88,152
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, “A”, 4%, 7/01/2046		349,365	316,057
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Capital Appreciation, “A”, 0%, 7/01/2024		14,669	14,669
Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Capital Appreciation, “A”, 0%, 7/01/2033		116,044	77,431
Horry County, SC, Limited Obligation (Hospitality Fee & Local Accommodations Fee Pledge), 4.5%, 9/01/2052		2,000,000	2,024,297
Lancaster County, SC, General Obligation Refunding, 3%, 3/01/2039		725,000	644,803
Lancaster County, SC, Public Facilities Corp. Installment Purchase Rev. (Lancaster County Project), 5%, 6/01/2042		1,500,000	1,613,060
State of Illinois, General Obligation, 5.5%, 5/01/2039		190,000	207,988
State of Illinois, General Obligation, 5.75%, 5/01/2045		175,000	190,068
State of Illinois, General Obligation, “B”, 5.5%, 5/01/2047		165,000	179,546
State of Illinois, General Obligation, “C”, 4%, 10/01/2040		340,000	328,207
State of Illinois, General Obligation, “C”, 4%, 10/01/2041		150,000	143,364
Texas Cedar Port Navigation & Improvement District, Unlimited Tax, 4.5%, 9/01/2048		210,000	211,644
Texas Cedar Port Navigation & Improvement District, Unlimited Tax, 4.5%, 9/01/2052		85,000	85,220
			$9,377,743
General Obligations - Schools – 6.6%
Aiken County, SC, Consolidated School District Special Obligation, 4%, 6/01/2035	$	275,000	$278,963
Aiken County, SC, Consolidated School District Special Obligation, 3.125%, 6/01/2041		1,400,000	1,243,928
Beaufort County, SC, School District, General Obligation , “C”, SCSDE, 4%, 3/01/2035		3,000,000	3,114,765
Chicago, IL, Board of Education, Unlimited Tax General Obligation Dedicated Rev., “A”, 4%, 12/01/2047		770,000	675,191
Little Rock, AR, School District & Construction, “A”, BAM, 3%, 2/01/2048		1,925,000	1,517,136
Spartanburg County, SC, School District No. 4, General Obligation, “A”, SCSDE, 5%, 3/01/2047		2,000,000	2,160,541
Spartanburg County, SC, School District No. 4, General Obligation, “A”, SCSDE, 5.25%, 3/01/2052		3,000,000	3,265,580
Spartanburg County, SC, School District No. 7, General Obligation, “B”, SCSDE, 5%, 3/01/2048		2,000,000	2,092,902
			$14,349,006
Healthcare Revenue - Hospitals – 11.8%
Allegheny County, PA, Hospital Development Authority Rev. (Allegheny Health Network Obligated Group), “A”, 4%, 4/01/2044	$	255,000	$240,455
Colorado Health Facilities Authority Rev. (CommonSpirit Health), “A-2”, 4%, 8/01/2049		50,000	47,423
Doylestown, PA, Hospital Authority Rev., “A”, 4%, 7/01/2045		30,000	25,399
Greenwood County, SC, Hospital Facilities Refunding Rev. (Self Regional Healthcare), 4%, 10/01/2036		1,975,000	1,988,849

1

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds – continued
Healthcare Revenue - Hospitals – continued
Harris County, TX, Cultural Education Facilities Finance Corp., Hospital Rev. (Memorial Hermann Health System), “A”, 4.125%, 7/01/2052	$	1,290,000	$1,231,142
Lexington County, SC, Health Services District, Inc., Hospital Rev., 4%, 11/01/2031		1,000,000	1,010,442
Lexington County, SC, Health Services District, Inc., Hospital Rev., 4%, 11/01/2032		1,000,000	1,008,808
New York Dormitory Authority Rev. (Norwell Health Obligated Group), “A”, 4.25%, 5/01/2052		1,405,000	1,405,788
North Carolina Medical Care Commission, Health Care Facilities Rev. (Rex Healthcare), “A”, 4%, 7/01/2049		1,580,000	1,508,238
South Carolina Jobs & Economic Development Authority, Health Care Facilities Rev. (Novant Health Obligated Group), “A”, 5.5%, 11/01/2054		1,000,000	1,110,062
South Carolina Jobs & Economic Development Authority, Health Facilities Rev. (Anderson Area Medical Center, Inc.), 5%, 2/01/2038 (Prerefunded 2/01/2026)		295,000	302,425
South Carolina Jobs & Economic Development Authority, Health Facilities Rev. (Anderson Area Medical Center, Inc.), 5%, 2/01/2038		1,205,000	1,218,031
South Carolina Jobs & Economic Development Authority, Hospital Facilities Rev. (Bon Secours Mercy Health, Inc.), “A”, 4%, 12/01/2044		285,000	277,358
South Carolina Jobs & Economic Development Authority, Hospital Facilities Rev. (Bon Secours Mercy Health, Inc.), “A”, 5%, 12/01/2046		2,000,000	2,082,271
South Carolina Jobs & Economic Development Authority, Hospital Rev. (AnMed Health), 4.25%, 2/01/2048		2,000,000	2,016,896
South Carolina Jobs & Economic Development Authority, Hospital Rev. (Conway Hospital, Inc.), 5.25%, 7/01/2047		2,000,000	2,026,413
South Carolina Jobs & Economic Development Authority, Hospital Rev. (Hampton Regional Medical Center Project), 5%, 11/01/2037		500,000	500,856
South Carolina Jobs & Economic Development Authority, Hospital Rev. (McLeod Health Projects), 4%, 11/01/2048		2,000,000	1,893,918
South Carolina Jobs & Economic Development Authority, Hospital Rev. (Prisma Health Obligated Group), 5%, 5/01/2037		2,000,000	2,075,668
Spartanburg County, SC, Regional Health Services District Hospital Rev., “A”, 4%, 4/15/2043		3,340,000	3,199,914
Spartanburg County, SC, Regional Health Services District Hospital Rev., “A”, AGM, 4%, 4/15/2036		450,000	453,422
			$25,623,778
Healthcare Revenue - Long Term Care – 2.1%
South Carolina Jobs & Economic Development Authority Rev. (Bishop Gadsden Episcopal Retirement Community), “A”, 5%, 4/01/2049	$	1,250,000	$1,218,714
South Carolina Jobs & Economic Development Authority, Health Facilities Rev. (Lutheran Homes of South Carolina, Inc.), 5%, 5/01/2043		750,000	637,418
South Carolina Jobs & Economic Development Authority, Health Facilities Rev. (Lutheran Homes of South Carolina, Inc.), 5.125%, 5/01/2048		250,000	209,136
South Carolina Jobs & Economic Development Authority, Health Facilities Rev. (Lutheran Homes of South Carolina, Inc.), “B”, 5%, 5/01/2042		750,000	645,652
South Carolina Jobs & Economic Development Authority, Health Facilities Rev. (Wesley Commons), 5%, 10/01/2036 (n)		1,000,000	964,407
South Carolina Jobs & Economic Development Authority, Residential Care Facilities Rev. (Episcopal Home at Still Hopes), 5%, 4/01/2047		1,000,000	960,534
			$4,635,861
Industrial Revenue - Environmental Services – 0.2%
Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Rev. (Waste Management, Inc. Project), 2.15%, 7/01/2041 (Put Date 7/01/2027)	$	405,000	$405,000
Industrial Revenue - Other – 0.1%
Port Beaumont, TX, Navigation District, Dock & Wharf Facility Rev. (Jefferson Gulf Coast Energy Project), “A”, 3.625%, 1/01/2035 (n)	$	100,000	$90,599
Port Beaumont, TX, Navigation District, Dock & Wharf Facility Rev. (Jefferson Gulf Coast Energy Project), “A”, 2.875%, 1/01/2041 (n)		260,000	198,639
			$289,238
Miscellaneous Revenue - Other – 1.9%
Director of the State of Nevada, Department of Business & Industry Rev. (Brightline West Passenger Rail Project), “A”, 4%, 1/01/2050 (Put Date 1/30/2025)	$	100,000	$100,024
Matching Fund Special Purpose Securitization Corp., “A”, 5%, 10/01/2026		100,000	102,190
New York Liberty Development Corp., Liberty Rev. (3 World Trade Center Project), “1”, 5%, 11/15/2044 (n)		575,000	575,546
Pennsylvania Economic Development Financing Authority, Private Activity Rev. (PennDOT Major Bridges Package One Project), AGM, 5%, 12/31/2057		795,000	820,524

2

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds – continued
Miscellaneous Revenue - Other – continued
Saxe Gotha-Lexington, SC, Public Facilities Corp. Rev. (Icehouse Development Project), 6.75%, 5/02/2025	$	2,400,000	$2,459,993
			$4,058,277
Multi-Family Housing Revenue – 2.1%
Greenville, SC, Housing Authority, Multi-Family Housing Rev. (Cherokee Landing Apartments Project), FNMA, 5%, 7/01/2027 (Put Date 7/01/2026)	$	1,000,000	$1,017,001
National Finance Authority, NH, Municipal Certificates, “1-A”, 4.375%, 9/20/2036		660,641	656,488
North Carolina Housing Finance Agency (Multi-Family Tax-Exempt Mortgaged Back), FNMA, 4.45%, 5/01/2040		1,000,000	1,010,065
South Carolina Housing & Finance Development Authority Multi-Family Mortgage (Edgewood Place Apartments), “A”, FNMA, 4.8%, 7/01/2045		2,000,000	1,990,738
			$4,674,292
Port Revenue – 6.5%
Port Authority of NY & NJ (221st Series), 4%, 7/15/2045	$	1,820,000	$1,740,755
South Carolina Ports Authority Rev., 5%, 7/01/2028		300,000	303,248
South Carolina Ports Authority Rev., 5%, 7/01/2029		450,000	455,149
South Carolina Ports Authority Rev., 5%, 7/01/2033 (Prerefunded 7/01/2025)		500,000	506,589
South Carolina Ports Authority Rev., 5%, 7/01/2036		3,000,000	3,127,639
South Carolina Ports Authority Rev., 4%, 7/01/2055		2,000,000	1,791,708
South Carolina Ports Authority Rev., 5.25%, 7/01/2055 (Prerefunded 7/01/2025)		3,000,000	3,046,834
South Carolina Ports Authority Rev., “B”, 5%, 7/01/2044		3,000,000	3,089,059
			$14,060,981
Sales & Excise Tax Revenue – 4.3%
Chicago, IL, Metropolitan Pier & Exposition Authority Refunding Bonds (McCormick Place Expansion Project), Capital Appreciation, “B-1”, AGM, 0%, 6/15/2044	$	2,485,000	$1,008,614
Guam Government Business Privilege Tax Refunding, “F”, 5%, 1/01/2031		20,000	21,327
Guam Government Business Privilege Tax Refunding, “F”, 4%, 1/01/2042		190,000	182,738
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-1”, 4.55%, 7/01/2040		49,000	49,183
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-1”, 4.75%, 7/01/2053		158,000	155,699
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-1”, 5%, 7/01/2058		5,599,000	5,577,203
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-2”, 4.329%, 7/01/2040		299,000	294,991
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-2”, 4.329%, 7/01/2040		163,000	160,815
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-2”, 4.536%, 7/01/2053		4,000	3,809
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., “2019A-2”, 4.784%, 7/01/2058		71,000	69,874
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2024		3,000	3,000
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2029		14,000	11,553
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2031		725,000	550,332
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2033		695,000	483,189
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, “2019A-1”, 0%, 7/01/2046		327,000	105,158
Wisconsin Public Finance Authority Limited Obligation Grant Rev. (American Dream at Meadowlands Project), “A”, 6.25%, 8/01/2027 (a)(d)(n)		510,000	397,800
Wisconsin Public Finance Authority Limited Obligation Grant Rev., Taxable (American Dream at Meadowlands Project), ”A“, 5.625%, 8/01/2024 (a)(d)(n)		270,000	210,600
			$9,285,885
Secondary Schools – 0.6%
District of Columbia Rev. (Rocketship D.C.), “A”, 5%, 6/01/2049 (n)	$	250,000	$242,710
South Carolina Jobs & Economic Development Authority, Educational Facilities Rev. (Green Charter Schools Project), “A”, 4%, 6/01/2056 (n)		1,400,000	975,401
			$1,218,111
Single Family Housing - State – 8.5%
Connecticut Housing Finance Authority Rev. (Housing Mortgage Finance Program), “C-1”, 4%, 11/15/2047	$	245,000	$243,578
Maryland Community Development Administration, Department of Housing & Community Development Residential Rev., “A”, GNMA, 4.45%, 9/01/2043		1,195,000	1,195,766
Maryland Community Development Administration, Department of Housing & Community Development Residential Rev., “A”, GNMA, 4.5%, 9/01/2046		400,000	397,623
South Carolina Housing Finance & Development Authority Mortgage Rev., “A”, 3.75%, 7/01/2043		265,000	241,847

3

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds – continued
Single Family Housing - State – continued
South Carolina Housing Finance & Development Authority Mortgage Rev., “A”, 3.8%, 1/01/2049	$	250,000	$230,654
South Carolina Housing Finance & Development Authority Mortgage Rev., “A”, 3%, 1/01/2052		2,485,000	2,404,532
South Carolina Housing Finance & Development Authority Mortgage Rev., “A”, 4.95%, 7/01/2053		980,000	998,946
South Carolina Housing Finance & Development Authority Mortgage Rev., “A”, 5.75%, 1/01/2054		2,920,000	3,137,841
South Carolina Housing Finance & Development Authority Mortgage Rev., “A”, 6.25%, 7/01/2054		2,000,000	2,212,274
South Carolina Housing Finance & Development Authority Mortgage Rev., “B”, 4.2%, 7/01/2042		1,985,000	1,934,775
South Carolina Housing Finance & Development Authority Mortgage Rev., “B”, 3.25%, 1/01/2052		1,920,000	1,877,319
South Carolina Housing Finance & Development Authority Mortgage Rev., “B”, 4.9%, 7/01/2053		1,310,000	1,330,992
South Carolina Housing Finance & Development Authority Mortgage Rev., “B”, 6%, 1/01/2054		1,965,000	2,140,257
			$18,346,404
State & Local Agencies – 9.0%
Dillon County, SC, School Facilities Corp., 5%, 12/01/2033	$	1,705,000	$1,809,417
Dorchester County, SC, Summers Corner Improvement District Assessment Rev., 5.5%, 10/01/2051		1,000,000	984,849
Fort Mill, SC, Public Facilities Corp. Installment Purchase Rev. (Town of Fort Mill Project), “A”, 4%, 8/01/2042		1,090,000	1,082,377
Fort Mill, SC, Public Facilities Corp. Installment Purchase Rev. (Town of Fort Mill Project), “A”, 4%, 8/01/2043		350,000	346,046
Fort Mill, SC, Public Facilities Corp. Installment Purchase Rev. (Town of Fort Mill Project), “A”, 4%, 8/01/2044		325,000	320,076
Greenville, SC, Building Equity Sooner for Tomorrow Installment Purchase Rev. (School District of South Carolina Project), 5%, 12/01/2025		2,000,000	2,044,812
Greer, SC, Installment Purchase Rev. (City Improvement Project), “A”, 4.125%, 9/01/2049		1,000,000	985,458
Laurens County, SC, Public Facilities Corp. Installment Purchase Rev. (Laurens County Public Facilities Project), 5%, 9/01/2049		1,000,000	1,075,965
Orangeburg County, SC, Facilities Corp. Installment Purchase Rev. (Detention Center Project), 4%, 12/01/2042		1,975,000	1,886,371
Orangeburg County, SC, School District, Special Obligation, 5%, 6/01/2029		740,000	772,267
Orangeburg County, SC, School District, Special Obligation, 5%, 6/01/2030		870,000	916,149
Pennsylvania Public School Building Authority, School Lease Rev. (School District of Philadelphia Project), “A”, AGM, 5%, 6/01/2033		1,115,000	1,145,608
Scago, SC, Educational Facilities Installment Purchase Rev. (Georgetown County Project), 4%, 6/01/2041		1,000,000	1,008,024
Scago, SC, Educational Facilities Installment Purchase Rev. (Georgetown County Project), 4%, 6/01/2042		1,000,000	1,004,377
Scago, SC, Educational Facilities Installment Purchase Rev. (School District of Pickens County Project), 5%, 12/01/2028		2,000,000	2,020,109
Sumter, SC, School Facilities, Inc., Installment Purchase Rev. (Sumter Two School Facilities, Inc.), BAM, 5%, 12/01/2026		1,000,000	1,020,009
Sumter, SC, School Facilities, Inc., Installment Purchase Rev. (Sumter Two School Facilities, Inc.), BAM, 5%, 12/01/2027		1,195,000	1,216,725
			$19,638,639
Student Loan Revenue – 0.5%
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., “B”, 4%, 12/01/2041	$	1,180,000	$1,131,102
Tax - Other – 2.4%
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5%, 4/01/2045	$	145,000	$154,067
Chicago, IL, Board of Education, Dedicated Capital Improvement Tax Bond, 5.75%, 4/01/2048		375,000	417,167
Greenville County, SC, Road Fee Rev., 4%, 4/01/2043		1,000,000	1,001,005
Guam Government Limited Obligation Rev., “A”, 5%, 12/01/2036		95,000	96,820
Guam Government Limited Obligation Rev., “A”, 5%, 12/01/2046		285,000	285,786
Myrtle Beach, SC, Tax Increment Refunding Bonds Rev. (Myrtle Beach Air Force Base Redevelopment Project Area), 5%, 10/01/2030		1,000,000	1,029,415
North Charleston, SC, Limited Obligation Bond (Hospitality Fee Pledge), “A”, 5%, 10/01/2040		2,000,000	2,042,763
Wisconsin Public Finance Authority Limited Obligation PILOT Rev. (American Dream at Meadowlands Project), 7%, 12/01/2050		165,000	164,396
			$5,191,419
Tax Assessment – 0.4%
Berkeley County, SC, Assessment Rev. (Nexton Improvement District), 4.375%, 11/01/2049 (n)	$	1,000,000	$842,897
Brunswick, MD, Special Obligation Refunding (Brunswick Crossing Special Taxing District), 4%, 7/01/2029		20,000	19,475
Brunswick, MD, Special Obligation Refunding (Brunswick Crossing Special Taxing District), 5%, 7/01/2036		17,000	17,265
			$879,637
Tobacco – 0.7%
Buckeye, OH, Tobacco Settlement Financing Authority Senior Asset-Backed Refunding, 2020A-2, “1”, 4%, 6/01/2048	$	280,000	$258,069
Buckeye, OH, Tobacco Settlement Financing Authority Senior Asset-Backed Refunding, 2020B-2, “2”, 5%, 6/01/2055		740,000	682,175
Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Taxable, “B-1”, 3.85%, 6/01/2050		625,000	586,173
			$1,526,417

4

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds – continued
Toll Roads – 0.7%
Virginia Small Business Financing Authority Senior Lien Refunding Rev. (95 Express Lanes LLC Project), 5%, 1/01/2035	$	800,000	$853,554
Virginia Small Business Financing Authority Senior Lien Rev. (Elizabeth River Crossings Opco LLC Project), 3%, 1/01/2041		765,000	626,922
			$1,480,476
Transportation - Special Tax – 1.6%
New Jersey Transportation Trust Fund Authority, “CC”, 5.5%, 6/15/2050	$	120,000	$132,282
South Carolina Transportation Infrastructure Bank Refunding Rev., “A”, 5%, 10/01/2036		1,205,000	1,259,570
South Carolina Transportation Infrastructure Bank Rev., “A”, 5%, 10/01/2040		2,000,000	2,074,339
			$3,466,191
Universities - Colleges – 5.0%
Clemson University, SC, Athletic Facilities Rev., “A”, 3%, 5/01/2048	$	3,000,000	$2,340,762
Clemson University, SC, Higher Education Rev. (Manning Hall Project), “A”, 5%, 5/01/2054		1,500,000	1,621,362
Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority, Higher Education Rev. (University of Sacred Heart), 4.375%, 10/01/2031		55,000	55,049
Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority, Higher Education Rev. (University of Sacred Heart), 5%, 10/01/2042		70,000	70,149
Red River, TX, Education Finance Corp., Higher Education Rev. (Houston Baptist University Project), 5.5%, 10/01/2046		390,000	391,470
South Carolina Jobs & Economic Development Authority (Furman University), 5%, 10/01/2028		700,000	710,322
South Carolina Jobs & Economic Development Authority (Wofford College), 5%, 4/01/2035		1,565,000	1,590,573
South Carolina Jobs & Economic Development Authority (Wofford College), 5%, 4/01/2049		2,000,000	2,040,837
University of Puerto Rico Rev., “P”, NPFG, 5%, 6/01/2025		30,000	30,032
University of South Carolina, Higher Education Rev. (Campus Village Project), “A”, 5%, 5/01/2046		1,900,000	2,038,235
			$10,888,791
Utilities - Municipal Owned – 4.8%
Guam Power Authority Rev., “A”, AGM, 5%, 10/01/2039	$	145,000	$145,341
Guam Power Authority Rev., “A”, AGM, 5%, 10/01/2044		170,000	170,242
Puerto Rico Electric Power Authority Refunding Rev., “DDD”, 5%, 7/01/2020 (a)(d)		20,000	10,025
Puerto Rico Electric Power Authority Refunding Rev., “DDD”, 5%, 7/01/2022 (a)(d)		330,000	165,412
Puerto Rico Electric Power Authority Rev., “A”, 5%, 7/01/2029 (a)(d)		525,000	263,156
Puerto Rico Electric Power Authority Rev., “AAA”, 5.25%, 7/01/2021 (a)(d)		40,000	20,050
Puerto Rico Electric Power Authority Rev., “AAA”, 5.25%, 7/01/2030 (a)(d)		20,000	10,025
Puerto Rico Electric Power Authority Rev., “CCC”, 5.25%, 7/01/2027 (a)(d)		190,000	95,238
Puerto Rico Electric Power Authority Rev., “TT”, 5%, 7/01/2021 (a)(d)		100,000	50,125
Puerto Rico Electric Power Authority Rev., “TT”, 5%, 7/01/2023 (a)(d)		90,000	45,113
Puerto Rico Electric Power Authority Rev., “TT”, 5%, 7/01/2027 (a)(d)		15,000	7,519
Puerto Rico Electric Power Authority Rev., “TT”, 5%, 7/01/2037 (a)(d)		270,000	135,337
Puerto Rico Electric Power Authority Rev., “VV”, NPFG, 5.25%, 7/01/2034		25,000	24,732
Puerto Rico Electric Power Authority Rev., “WW”, 5.375%, 7/01/2022 (a)(d)		15,000	7,519
Puerto Rico Electric Power Authority Rev., “WW”, 5.25%, 7/01/2025 (a)(d)		40,000	20,050
Puerto Rico Electric Power Authority Rev., “ZZ”, 5.25%, 7/01/2023 (a)(d)		140,000	70,175
Puerto Rico Electric Power Authority Rev., “ZZ”, 5.25%, 7/01/2024 (a)(d)		45,000	22,556
Puerto Rico Electric Power Authority Rev., “ZZ”, 5.25%, 7/01/2026 (a)(d)		145,000	72,681
Puerto Rico Electric Power Authority Rev., Taxable, “EEE”, 6.05%, 7/01/2032 (a)(d)		115,000	57,644
Rock Hill, SC, Combined Utility System Rev., 4%, 1/01/2049		1,000,000	956,174
Rock Hill, SC, Combined Utility System Rev., 5%, 1/01/2054		1,000,000	1,067,890
Rock Hill, SC, Utility Systems Rev., 5%, 1/01/2041		1,000,000	1,013,069
Rock Hill, SC, Utility Systems Rev., “A”, BAM, 4%, 1/01/2049		650,000	633,061
South Carolina Patriots Energy Group Gas System Improvement Refunding Rev., “A”, 4%, 6/01/2035		500,000	508,812
South Carolina Patriots Energy Group Gas System Improvement Refunding Rev., “A”, 4%, 6/01/2036		500,000	507,579
South Carolina Public Service Authority Improvement Rev., “B”, 5%, 12/01/2051		2,055,000	2,130,432
South Carolina Public Service Authority Improvement Rev., “E”, AGM, 5.25%, 12/01/2038		2,000,000	2,229,157
			$10,439,114
Utilities - Other – 3.9%
Black Belt Energy Gas District, AL, Gas Project Rev., “C-1”, 5.25%, 2/01/2053 (Put Date 6/01/2029)	$	1,230,000	$1,298,064
California Community Choice Financing Authority, Clean Energy Project Rev., “C”, 5.25%, 1/01/2054 (Put Date 10/01/2031)		1,195,000	1,259,375
Patriots Energy Group Financing Agency, SC, Gas Supply Rev., “B-1”, 5.25%, 2/01/2054 (Put Date 3/01/2031)		2,000,000	2,165,400

5

Portfolio of Investments (unaudited) – continued

Issuer		Shares/Par	Value ($)
Municipal Bonds – continued
Utilities - Other – continued
Public Authority for Colorado Energy Natural Gas Purchase Rev., 6.25%, 11/15/2028	$	130,000	$136,256
Southeast Alabama Energy Authority Commodity Supply Rev. (Project No. 5), “A”, 5.25%, 1/01/2054 (Put Date 7/01/2029)		1,090,000	1,152,587
Tennergy Corp., TN, Gas Supply Rev., “A”, 5.5%, 10/01/2053 (Put Date 12/01/2030)		685,000	731,889
Tennessee Energy Acquisition Corp., Gas Project Rev., “A”, 5.25%, 9/01/2026		570,000	583,599
Tennessee Energy Acquisition Corp., Gas Project Rev., “A-1”, 5%, 5/01/2053 (Put Date 5/01/2028)		1,065,000	1,107,035
			$8,434,205
Water & Sewer Utility Revenue – 13.9%
Aiken County, SC, County Administration Building Project, 4%, 8/01/2049	$	1,000,000	$969,286
Aiken County, SC, County Administration Building Project, 5%, 8/01/2053		1,000,000	1,061,568
Columbia, SC, Waterworks & Sewer System Rev., 5%, 2/01/2047		1,000,000	1,095,347
Columbia, SC, Waterworks & Sewer System Rev., 5.25%, 2/01/2052		500,000	552,198
Columbia, SC, Waterworks & Sewer System Rev., “A”, 5%, 2/01/2048		1,100,000	1,201,739
Columbia, SC, Waterworks & Sewer System Rev., “A”, 5.25%, 2/01/2053		2,335,000	2,575,726
Dorchester County, SC, Waterworks & Sewer Systems Rev., 4.25%, 10/01/2048		2,250,000	2,272,280
Guam Waterworks Authority Rev. (Water and Wastewater System), 5%, 1/01/2046		410,000	416,578
Guam Waterworks Authority Rev. (Water and Wastewater System), “A”, 5%, 1/01/2050		300,000	308,189
Inman-Campobello Water District, SC, Waterworks System Improvement Rev., BAM, 5%, 6/01/2048		1,000,000	1,068,060
Kershaw County, SC, Waterworks System Rev. (Lugoff Water District), “B”, 5%, 7/01/2035		500,000	514,273
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		50,000	50,038
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		60,000	60,046
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		70,000	70,053
Mount Pleasant, SC, Waterworks & Sewer System Rev., “A”, 5%, 6/01/2036		1,000,000	1,044,107
Myrtle Beach, SC, Waterworks & Sewer System Improvement Refunding Rev., “C”, 5%, 3/01/2042		605,000	662,609
Myrtle Beach, SC, Waterworks & Sewer System Improvement Refunding Rev., “C”, 5%, 3/01/2043		325,000	354,917
Myrtle Beach, SC, Waterworks & Sewer System Improvement Refunding Rev., “C”, 5%, 3/01/2045		1,350,000	1,464,819
Myrtle Beach, SC, Waterworks & Sewer System Improvement Refunding Rev., “C”, 4%, 3/01/2048		1,645,000	1,598,416
North Charleston, SC, Sewer District Rev., 5%, 7/01/2039		3,425,000	3,434,799
South Island Public Service District, SC, Waterworks & Sewer System Improvement Rev., 4.5%, 4/01/2052		5,000,000	5,048,237
Spartanburg, SC, Sanitary Sewer District Convertible Rev., “B”, 5%, 3/01/2034		2,000,000	2,017,562
York County, SC, Water and Sewer System Rev., 4%, 6/01/2040		1,100,000	1,120,693
York County, SC, Water and Sewer System Rev., 4%, 6/01/2042		1,100,000	1,106,233
			$30,067,773
Total Municipal Bonds			$206,537,389
Bonds – 0.3%
Transportation - Services – 0.3%
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2025 (n)	$	420,000	$402,627
Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2043 (n)		727,364	216,682
Total Bonds			$619,309
Contingent Value Instruments – 0.1%
General Obligations - General Purpose – 0.1%
Commonwealth of Puerto Rico, General Obligation Contingent Value Instrument, 11/01/2043	$	399,702	$244,817
Investment Companies (h) – 2.8%
Money Market Funds – 2.8%
MFS Institutional Money Market Portfolio, 5.39% (v)		6,126,955	$6,127,568
Other Assets, Less Liabilities – 1.6%			3,420,958
Net Assets – 100.0%			$216,950,041

(a)	Non-income producing security.
(d)	In default.

6

Portfolio of Investments (unaudited) – continued

(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 $6,127,568 and $207,401,515, 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 $5,117,908, representing 2.4% 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.

The following abbreviations are used in this report and are defined:
AAC	Ambac Assurance Corp.
AGM	Assured Guaranty Municipal
BAM	Build America Mutual
FNMA	Federal National Mortgage Assn.
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.

7

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	$—	$206,782,206	$—	$206,782,206
U.S. Corporate Bonds	—	619,309	—	619,309
Mutual Funds	6,127,568	—	—	6,127,568
Total	$6,127,568	$207,401,515	$—	$213,529,083

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	$2,190,396	$17,774,386	$13,837,017	$(248)	$51	$6,127,568

8

Supplemental Information (unaudited) – continued

Affiliated Issuers	Dividend Income	Capital Gain Distributions
MFS Institutional Money Market Portfolio	$40,280	$—

(3) Jurisdiction Weightings

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

South Carolina	75.4%
Puerto Rico	4.8%
Illinois	2.3%
New York	2.2%
Pennsylvania	1.2%
North Carolina	1.2%
Tennessee	1.1%
Alabama	1.1%
Texas	1.0%
Virginia	1.0%
California	0.9%
Guam	0.8%
Maryland	0.8%
Arkansas	0.7%
New Jersey	0.6%
Wisconsin	0.4%
Ohio	0.4%
New Hampshire	0.3%
Colorado	0.2%
Michigan	0.2%
Washington DC	0.1%
Connecticut	0.1%
U.S. Virgin Islands (o)	0.0%
Nevada (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.

9