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 811-4777
MFS SERIES TRUST I
(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
111 Huntington Avenue
Boston, Massachusetts 02199
(Name and address of agents for service)
Registrant’s telephone number, including area code: (617) 954-5000
Date of fiscal year end: August 31
Date of reporting period: August 31, 2021
ITEM 1. | REPORTS TO STOCKHOLDERS. |
Item 1(a):
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back cover |
Apple, Inc. | 5.7% |
Microsoft Corp. | 5.6% |
Alphabet, Inc., “A” | 4.1% |
Amazon.com, Inc. | 3.8% |
Facebook, Inc., “A” | 2.0% |
JPMorgan Chase & Co. | 1.7% |
Visa, Inc., “A” | 1.6% |
Adobe Systems, Inc. | 1.5% |
Johnson & Johnson | 1.4% |
ICON PLC | 1.2% |
Technology | 33.4% |
Financial Services | 14.4% |
Health Care (s) | 13.7% |
Capital Goods | 12.6% |
Consumer Cyclicals | 12.6% |
Energy | 4.7% |
Telecommunications/Cable Television (s) | 4.1% |
Consumer Staples | 2.8% |
(k) | The sectors set forth above and the associated portfolio composition are based on MFS’ own custom sector classification methodology. |
(s) | Includes securities sold short. |
(b) | Security is not a benchmark constituent. |
(h) | Security was not held in the portfolio at period end. |
Share Class | Class Inception Date | 1-yr | 5-yr | 10-yr | Life (t) |
A | 1/02/96 | 30.57% | 18.53% | 16.11% | N/A |
B | 1/02/97 | 29.58% | 17.64% | 15.23% | N/A |
C | 1/02/97 | 29.62% | 17.64% | 15.23% | N/A |
I | 1/02/97 | 30.91% | 18.82% | 16.39% | N/A |
R1 | 4/01/05 | 29.60% | 17.64% | 15.23% | N/A |
R2 | 10/31/03 | 30.27% | 18.24% | 15.81% | N/A |
R3 | 4/01/05 | 30.59% | 18.52% | 16.10% | N/A |
R4 | 4/01/05 | 30.92% | 18.82% | 16.39% | N/A |
R6 | 1/02/13 | 31.03% | 18.92% | N/A | 16.86% |
Russell 3000® Index (f) | 33.04% | 17.97% | 16.20% | N/A |
A With Initial Sales Charge (5.75%) | 23.07% | 17.14% | 15.42% | N/A |
B With CDSC (Declining over six years from 4% to 0%) (v) | 25.58% | 17.43% | 15.23% | N/A |
C With CDSC (1% for 12 months) (v) | 28.62% | 17.64% | 15.23% | N/A |
(f) | Source: FactSet Research Systems Inc. |
(t) | For the period from the class inception date through the stated period end (for those share classes with less than 10 years of performance history). No comparative benchmark performance information is provided for “life” periods. (See Notes to Performance Summary.) |
(v) | Assuming redemption at the end of the applicable period. |
(h) | Frank Russell Company (“Russell”) is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and/or Russell ratings or underlying data and no party may rely on any Russell |
March 1, 2021 through August 31, 2021
Share Class | Annualized Expense Ratio | Beginning Account Value 3/01/21 | Ending Account Value 8/31/21 | Expenses Paid During Period (p) 3/01/21-8/31/21 | |
A | Actual | 0.91% | $1,000.00 | $1,188.73 | $5.02 |
Hypothetical (h) | 0.91% | $1,000.00 | $1,020.62 | $4.63 | |
B | Actual | 1.66% | $1,000.00 | $1,184.23 | $9.14 |
Hypothetical (h) | 1.66% | $1,000.00 | $1,016.84 | $8.44 | |
C | Actual | 1.66% | $1,000.00 | $1,184.32 | $9.14 |
Hypothetical (h) | 1.66% | $1,000.00 | $1,016.84 | $8.44 | |
I | Actual | 0.66% | $1,000.00 | $1,190.23 | $3.64 |
Hypothetical (h) | 0.66% | $1,000.00 | $1,021.88 | $3.36 | |
R1 | Actual | 1.66% | $1,000.00 | $1,184.34 | $9.14 |
Hypothetical (h) | 1.66% | $1,000.00 | $1,016.84 | $8.44 | |
R2 | Actual | 1.14% | $1,000.00 | $1,187.35 | $6.29 |
Hypothetical (h) | 1.14% | $1,000.00 | $1,019.46 | $5.80 | |
R3 | Actual | 0.91% | $1,000.00 | $1,188.89 | $5.02 |
Hypothetical (h) | 0.91% | $1,000.00 | $1,020.62 | $4.63 | |
R4 | Actual | 0.66% | $1,000.00 | $1,190.51 | $3.64 |
Hypothetical (h) | 0.66% | $1,000.00 | $1,021.88 | $3.36 | |
R6 | Actual | 0.58% | $1,000.00 | $1,190.88 | $3.20 |
Hypothetical (h) | 0.58% | $1,000.00 | $1,022.28 | $2.96 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 98.8% | ||||
Aerospace & Defense – 2.3% | ||||
CACI International, Inc., “A” (a) | 21,712 | $ 5,591,708 | ||
Curtiss-Wright Corp. | 73,987 | 9,010,137 | ||
Honeywell International, Inc. | 185,345 | 42,983,359 | ||
Howmet Aerospace, Inc. | 501,534 | 15,923,704 | ||
L3Harris Technologies, Inc. | 68,774 | 16,025,030 | ||
Leidos Holdings, Inc. | 31,751 | 3,115,091 | ||
Northrop Grumman Corp. | 28,836 | 10,602,997 | ||
Parsons Corp. (a) | 139,224 | 4,932,706 | ||
Raytheon Technologies Corp. | 415,676 | 35,232,698 | ||
$143,417,430 | ||||
Alcoholic Beverages – 0.2% | ||||
Constellation Brands, Inc., “A” | 68,921 | $ 14,551,980 | ||
Apparel Manufacturers – 0.5% | ||||
NIKE, Inc., “B” | 61,492 | $ 10,130,192 | ||
Skechers USA, Inc., “A” (a) | 392,269 | 19,782,126 | ||
$29,912,318 | ||||
Automotive – 1.0% | ||||
Aptiv PLC (a) | 146,512 | $ 22,297,661 | ||
LKQ Corp. (a) | 726,136 | 38,260,106 | ||
$60,557,767 | ||||
Biotechnology – 1.4% | ||||
Biogen, Inc. (a) | 82,162 | $ 27,845,524 | ||
Illumina, Inc. (a) | 33,837 | 15,468,923 | ||
Vertex Pharmaceuticals, Inc. (a) | 198,980 | 39,853,704 | ||
$83,168,151 | ||||
Broadcasting – 1.2% | ||||
Discovery Communications, Inc., “C” (a) | 169,908 | $ 4,687,762 | ||
Walt Disney Co. (a) | 381,252 | 69,120,987 | ||
$73,808,749 | ||||
Brokerage & Asset Managers – 1.6% | ||||
Cboe Global Markets, Inc. | 181,163 | $ 22,853,712 | ||
Charles Schwab Corp. | 615,263 | 44,821,910 | ||
Invesco Ltd. | 1,069,929 | 27,090,602 | ||
$94,766,224 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Business Services – 3.3% | ||||
Accenture PLC, “A” | 104,485 | $ 35,165,471 | ||
Amdocs Ltd. | 173,597 | 13,372,177 | ||
Clarivate PLC (a) | 1,069,672 | 26,945,038 | ||
Cognizant Technology Solutions Corp., “A” | 155,909 | 11,897,416 | ||
Fidelity National Information Services, Inc. | 172,574 | 22,049,780 | ||
Fiserv, Inc. (a) | 180,403 | 21,249,669 | ||
Global Payments, Inc. | 103,740 | 16,872,274 | ||
PayPal Holdings, Inc. (a) | 176,593 | 50,975,335 | ||
$198,527,160 | ||||
Cable TV – 0.1% | ||||
Cable One, Inc. | 2,987 | $ 6,271,475 | ||
Chemicals – 0.4% | ||||
Element Solutions, Inc. | 810,286 | $ 18,417,801 | ||
FMC Corp. | 73,928 | 6,921,878 | ||
$25,339,679 | ||||
Computer Software – 10.5% | ||||
Adobe Systems, Inc. (a) | 135,189 | $ 89,724,939 | ||
Atlassian Corp. PLC, “A” (a) | 127,072 | 46,643,048 | ||
Avalara, Inc. (a) | 115,535 | 20,761,640 | ||
Cadence Design Systems, Inc. (a) | 298,325 | 48,770,171 | ||
CCC Intelligent Holdings, Inc. (a) | 1,206,005 | 13,989,658 | ||
Microsoft Corp. | 1,138,583 | 343,715,436 | ||
Ping Identity Holding Corp. (a) | 268,452 | 6,966,330 | ||
salesforce.com, inc. (a) | 253,052 | 67,127,104 | ||
$637,698,326 | ||||
Computer Software - Systems – 8.6% | ||||
Apple, Inc. (s) | 2,285,441 | $ 346,998,507 | ||
NICE Systems Ltd., ADR (a) | 84,656 | 24,609,499 | ||
Rapid7, Inc. (a) | 158,656 | 19,279,877 | ||
ServiceNow, Inc. (a) | 67,523 | 43,460,504 | ||
Square, Inc., “A” (a) | 93,925 | 25,178,475 | ||
TransUnion | 321,749 | 39,102,156 | ||
Zebra Technologies Corp., “A” (a) | 43,049 | 25,277,081 | ||
$523,906,099 | ||||
Construction – 1.6% | ||||
AvalonBay Communities, Inc., REIT | 87,471 | $ 20,081,592 | ||
AZEK Co. LLC (a) | 374,292 | 15,903,667 | ||
Masco Corp. | 325,549 | 19,767,335 | ||
Otis Worldwide Corp. | 159,927 | 14,748,468 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Construction – continued | ||||
Sherwin-Williams Co. | 30,129 | $ 9,149,274 | ||
Vulcan Materials Co. | 86,755 | 16,130,357 | ||
$95,780,693 | ||||
Consumer Products – 1.3% | ||||
Colgate-Palmolive Co. | 291,802 | $ 22,745,966 | ||
International Flavors & Fragrances, Inc. | 67,379 | 10,207,919 | ||
Kimberly-Clark Corp. | 137,626 | 18,966,239 | ||
Procter & Gamble Co. | 175,673 | 25,014,078 | ||
$76,934,202 | ||||
Consumer Services – 0.5% | ||||
Bright Horizons Family Solutions, Inc. (a) | 77,188 | $ 11,250,923 | ||
Grand Canyon Education, Inc. (a) | 188,174 | 16,773,830 | ||
$28,024,753 | ||||
Containers – 0.3% | ||||
Ball Corp. | 186,465 | $ 17,893,181 | ||
Electrical Equipment – 1.4% | ||||
AMETEK, Inc. | 72,247 | $ 9,823,425 | ||
Amphenol Corp., “A” | 79,788 | 6,114,154 | ||
Fortive Corp. | 122,067 | 9,017,089 | ||
Johnson Controls International PLC | 341,235 | 25,524,378 | ||
Sensata Technologies Holding PLC (a) | 426,604 | 25,246,425 | ||
TE Connectivity Ltd. | 56,163 | 8,436,806 | ||
$84,162,277 | ||||
Electronics – 4.4% | ||||
Advanced Micro Devices (a) | 324,649 | $ 35,945,137 | ||
Applied Materials, Inc. | 292,717 | 39,554,848 | ||
Broadcom, Inc. | 94,902 | 47,186,223 | ||
Intel Corp. | 536,362 | 28,995,730 | ||
Lam Research Corp. | 46,654 | 28,217,272 | ||
Monolithic Power Systems, Inc. | 32,158 | 15,915,959 | ||
NXP Semiconductors N.V. | 135,536 | 29,157,860 | ||
Silicon Laboratories, Inc. (a) | 31,075 | 4,898,042 | ||
Texas Instruments, Inc. | 200,939 | 38,361,265 | ||
$268,232,336 | ||||
Energy - Independent – 0.8% | ||||
ConocoPhillips | 316,802 | $ 17,592,015 | ||
Diamondback Energy, Inc. | 123,622 | 9,536,201 | ||
Pioneer Natural Resources Co. | 68,004 | 10,178,159 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Energy - Independent – continued | ||||
Valero Energy Corp. | 148,813 | $ 9,867,790 | ||
$47,174,165 | ||||
Energy - Integrated – 0.8% | ||||
Chevron Corp. | 511,076 | $ 49,456,825 | ||
Engineering - Construction – 0.3% | ||||
APi Group, Inc. (a) | 558,218 | $ 12,945,075 | ||
Comfort Systems USA, Inc. | 54,565 | 4,145,849 | ||
$17,090,924 | ||||
Food & Beverages – 2.1% | ||||
Archer Daniels Midland Co. | 253,710 | $ 15,222,600 | ||
Coca-Cola Co. | 154,061 | 8,675,175 | ||
Coca-Cola Europacific Partners PLC | 146,458 | 8,456,485 | ||
Hostess Brands, Inc. (a) | 495,116 | 7,902,052 | ||
J.M. Smucker Co. | 63,330 | 7,832,021 | ||
Mondelez International, Inc. | 543,544 | 33,737,776 | ||
Oatly Group AB, ADR (a) | 251,632 | 4,584,735 | ||
PepsiCo, Inc. | 287,065 | 44,894,095 | ||
$131,304,939 | ||||
Food & Drug Stores – 1.0% | ||||
Wal-Mart Stores, Inc. | 406,087 | $ 60,141,485 | ||
Forest & Paper Products – 0.4% | ||||
Rayonier, Inc., REIT | 631,862 | $ 23,239,884 | ||
Gaming & Lodging – 0.8% | ||||
International Game Technology PLC (a) | 432,149 | $ 9,286,882 | ||
Marriott International, Inc., “A” (a) | 124,453 | 16,818,579 | ||
Penn National Gaming, Inc. (a) | 75,443 | 6,118,427 | ||
Wyndham Hotels & Resorts, Inc. | 197,507 | 14,358,759 | ||
$46,582,647 | ||||
General Merchandise – 0.8% | ||||
Dollar General Corp. | 230,090 | $ 51,289,362 | ||
Health Maintenance Organizations – 1.3% | ||||
Cigna Corp. | 249,165 | $ 52,735,773 | ||
Humana, Inc. | 62,272 | 25,246,314 | ||
$77,982,087 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Insurance – 3.4% | ||||
Aon PLC | 239,424 | $ 68,681,169 | ||
Arthur J. Gallagher & Co. | 203,755 | 29,263,293 | ||
Assurant, Inc. | 106,428 | 18,104,467 | ||
Chubb Ltd. | 176,281 | 32,421,601 | ||
Everest Re Group Ltd. | 33,811 | 8,956,534 | ||
Hartford Financial Services Group, Inc. | 285,340 | 19,180,555 | ||
MetLife, Inc. | 234,747 | 14,554,314 | ||
Reinsurance Group of America, Inc. | 70,766 | 8,196,118 | ||
SiriusPoint Ltd. (a) | 610,520 | 5,989,201 | ||
$205,347,252 | ||||
Internet – 6.1% | ||||
Alphabet, Inc., “A” (a)(s) | 86,493 | $ 250,306,417 | ||
Facebook, Inc., “A” (a) | 325,023 | 123,307,226 | ||
$373,613,643 | ||||
Leisure & Toys – 0.8% | ||||
Electronic Arts, Inc. | 250,247 | $ 36,338,367 | ||
Roblox Corp., “A” (a) | 124,891 | 10,247,306 | ||
$46,585,673 | ||||
Machinery & Tools – 2.3% | ||||
Caterpillar, Inc. | 96,161 | $ 20,277,470 | ||
Eaton Corp. PLC | 143,638 | 24,182,894 | ||
IDEX Corp. | 36,501 | 8,176,224 | ||
Ingersoll Rand, Inc. (a) | 424,080 | 22,484,721 | ||
PACCAR, Inc. | 205,656 | 16,837,057 | ||
Regal Beloit Corp. | 96,181 | 14,371,365 | ||
Roper Technologies, Inc. | 60,986 | 29,473,314 | ||
Trane Technologies PLC | 24,242 | 4,812,037 | ||
$140,615,082 | ||||
Major Banks – 3.9% | ||||
JPMorgan Chase & Co. | 641,973 | $ 102,683,581 | ||
Morgan Stanley | 563,586 | 58,855,286 | ||
PNC Financial Services Group, Inc. | 298,892 | 57,118,261 | ||
Wells Fargo & Co. | 374,141 | 17,098,244 | ||
$235,755,372 | ||||
Medical & Health Technology & Services – 2.0% | ||||
Guardant Health, Inc. (a) | 49,657 | $ 6,319,846 | ||
ICON PLC (a) | 297,092 | 75,987,221 | ||
IDEXX Laboratories, Inc. (a) | 9,038 | 6,089,443 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Medical & Health Technology & Services – continued | ||||
McKesson Corp. | 174,588 | $ 35,640,394 | ||
$124,036,904 | ||||
Medical Equipment – 4.7% | ||||
Align Technology, Inc. (a) | 22,763 | $ 16,138,967 | ||
Becton, Dickinson and Co. | 130,544 | 32,857,925 | ||
Boston Scientific Corp. (a) | 864,510 | 39,032,627 | ||
Maravai Lifesciences Holdings, Inc., “A” (a) | 511,830 | 30,290,099 | ||
Medtronic PLC | 415,635 | 55,478,960 | ||
PerkinElmer, Inc. | 120,010 | 22,177,848 | ||
Quidel Corp. (a) | 123,214 | 15,888,445 | ||
STERIS PLC | 182,375 | 39,212,449 | ||
Thermo Fisher Scientific, Inc. | 68,498 | 38,012,965 | ||
$289,090,285 | ||||
Natural Gas - Pipeline – 0.3% | ||||
Cheniere Energy, Inc. (a) | 81,381 | $ 7,117,582 | ||
DT Midstream, Inc. | 28,774 | 1,337,128 | ||
Enterprise Products Partners LP | 423,152 | 9,419,364 | ||
$17,874,074 | ||||
Network & Telecom – 0.5% | ||||
Equinix, Inc., REIT | 38,602 | $ 32,558,857 | ||
Oil Services – 0.3% | ||||
Cactus, Inc., “A” | 221,588 | $ 8,311,766 | ||
ChampionX Corp. (a) | 536,990 | 12,527,977 | ||
$20,839,743 | ||||
Other Banks & Diversified Financials – 3.9% | ||||
Bank OZK | 385,058 | $ 16,338,011 | ||
Moody's Corp. | 62,430 | 23,771,471 | ||
Northern Trust Corp. | 134,493 | 15,940,110 | ||
SVB Financial Group (a) | 15,207 | 8,508,317 | ||
Truist Financial Corp. | 878,120 | 50,105,527 | ||
U.S. Bancorp | 393,828 | 22,601,789 | ||
United Community Bank, Inc. | 144,629 | 4,363,457 | ||
Visa, Inc., “A” | 424,069 | 97,154,208 | ||
$238,782,890 | ||||
Pharmaceuticals – 4.7% | ||||
Eli Lilly & Co. | 216,744 | $ 55,982,808 | ||
Johnson & Johnson | 495,666 | 85,814,655 | ||
Merck & Co., Inc. | 912,869 | 69,642,776 | ||
Organon & Co. | 451,100 | 15,287,779 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Pharmaceuticals – continued | ||||
Zoetis, Inc. | 281,799 | $ 57,644,803 | ||
$284,372,821 | ||||
Pollution Control – 0.2% | ||||
GFL Environmental, Inc. | 427,649 | $ 15,048,968 | ||
Printing & Publishing – 0.1% | ||||
Warner Music Group Corp. | 143,907 | $ 5,468,466 | ||
Railroad & Shipping – 1.2% | ||||
Canadian Pacific Railway Ltd. | 732,427 | $ 50,383,653 | ||
Kansas City Southern Co. | 71,908 | 20,182,419 | ||
$70,566,072 | ||||
Real Estate – 1.3% | ||||
Broadstone Net Lease, Inc. | 534,037 | $ 14,632,614 | ||
Empire State Realty Trust, REIT, “A” | 994,837 | 10,216,976 | ||
Extra Space Storage, Inc., REIT | 105,689 | 19,754,331 | ||
Innovative Industrial Properties, Inc., REIT | 36,413 | 8,954,321 | ||
STORE Capital Corp., REIT | 475,060 | 17,135,414 | ||
Sun Communities, Inc., REIT | 39,474 | 7,953,616 | ||
$78,647,272 | ||||
Restaurants – 1.1% | ||||
Starbucks Corp. | 359,200 | $ 42,202,408 | ||
Wendy's Co. | 973,622 | 22,412,779 | ||
$64,615,187 | ||||
Specialty Chemicals – 1.4% | ||||
Air Products & Chemicals, Inc. | 54,310 | $ 14,637,088 | ||
Ashland Global Holdings, Inc. | 155,341 | 14,153,118 | ||
Avient Corp. | 254,303 | 13,246,643 | ||
Axalta Coating Systems Ltd. (a) | 450,990 | 13,773,235 | ||
Diversey Holdings Ltd. (a) | 743,629 | 12,991,199 | ||
DuPont de Nemours, Inc. | 230,699 | 17,076,340 | ||
$85,877,623 | ||||
Specialty Stores – 5.9% | ||||
Amazon.com, Inc. (a)(s) | 67,375 | $ 233,844,476 | ||
Burlington Stores, Inc. (a) | 42,777 | 12,811,284 | ||
Farfetch Ltd., “A” (a) | 387,873 | 16,236,364 | ||
Home Depot, Inc. | 230,671 | 75,240,267 | ||
Petco Health & Wellness Co., Inc. (a) | 396,870 | 8,544,611 | ||
Ross Stores, Inc. | 111,079 | 13,151,753 | ||
$359,828,755 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Telecommunications - Wireless – 2.8% | ||||
Liberty Broadband Corp. (a) | 337,332 | $ 64,538,358 | ||
SBA Communications Corp., REIT | 113,571 | 40,768,582 | ||
T-Mobile USA, Inc. (a) | 492,777 | 67,520,305 | ||
$172,827,245 | ||||
Tobacco – 0.4% | ||||
Philip Morris International, Inc. | 263,998 | $ 27,191,794 | ||
Trucking – 0.1% | ||||
J.B. Hunt Transport Services, Inc. | 51,921 | $ 9,210,785 | ||
Utilities - Electric Power – 2.5% | ||||
American Electric Power Co., Inc. | 126,315 | $ 11,314,035 | ||
CenterPoint Energy, Inc. | 641,805 | 16,102,887 | ||
DTE Energy Co. | 58,134 | 6,995,846 | ||
Duke Energy Corp. | 96,045 | 10,052,070 | ||
Evergy, Inc. | 161,723 | 11,069,939 | ||
Exelon Corp. | 338,166 | 16,576,897 | ||
NextEra Energy, Inc. | 457,836 | 38,453,646 | ||
PG&E Corp. (a) | 1,413,624 | 12,962,932 | ||
Pinnacle West Capital Corp. | 81,120 | 6,238,128 | ||
Southern Co. | 175,054 | 11,506,299 | ||
Xcel Energy, Inc. | 179,768 | 12,359,050 | ||
$153,631,729 | ||||
Total Common Stocks (Identified Cost, $3,871,923,598) | $6,019,601,610 | |||
Investment Companies (h) – 1.5% | ||||
Money Market Funds – 1.5% | ||||
MFS Institutional Money Market Portfolio, 0.04% (v) (Identified Cost, $91,616,473) | 91,616,920 | $ 91,616,920 | ||
Securities Sold Short – (0.5)% | ||||
Medical & Health Technology & Services – (0.3)% | ||||
Healthcare Services Group, Inc. | (751,414) | $ (19,656,990) | ||
Telecommunications - Wireless – (0.2)% | ||||
Crown Castle International Corp., REIT | (44,300) | $ (8,624,767) | ||
Total Securities Sold Short (Proceeds Received, $25,248,059) | $ (28,281,757) | |||
Other Assets, Less Liabilities – 0.2% | 11,090,412 | |||
Net Assets – 100.0% | $6,094,027,185 |
(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 $91,616,920 and $6,019,601,610, respectively. | |||
(s) | Security or a portion of the security was pledged to cover collateral requirements for securities sold short. | |||
(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 |
Assets | |
Investments in unaffiliated issuers, at value (identified cost, $3,871,923,598) | $6,019,601,610 |
Investments in affiliated issuers, at value (identified cost, $91,616,473) | 91,616,920 |
Cash | 56,550 |
Deposits with brokers for | |
Securities sold short | 551,230 |
Receivables for | |
Fund shares sold | 10,775,064 |
Dividends | 6,619,874 |
Other assets | 3,127 |
Total assets | $6,129,224,375 |
Liabilities | |
Payables for | |
Dividends on securities sold short | $156,858 |
Securities sold short, at value (proceeds received, $25,248,059) | 28,281,757 |
Fund shares reacquired | 5,522,981 |
Payable to affiliates | |
Investment adviser | 170,362 |
Administrative services fee | 3,089 |
Shareholder servicing costs | 728,933 |
Distribution and service fees | 43,994 |
Payable for independent Trustees' compensation | 4,005 |
Accrued expenses and other liabilities | 285,211 |
Total liabilities | $35,197,190 |
Net assets | $6,094,027,185 |
Net assets consist of | |
Paid-in capital | $3,532,397,910 |
Total distributable earnings (loss) | 2,561,629,275 |
Net assets | $6,094,027,185 |
Shares of beneficial interest outstanding | 119,781,241 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $2,462,031,526 | 49,861,465 | $49.38 |
Class B | 24,860,881 | 585,046 | 42.49 |
Class C | 140,241,703 | 3,352,832 | 41.83 |
Class I | 1,416,134,080 | 26,913,921 | 52.62 |
Class R1 | 3,791,376 | 90,509 | 41.89 |
Class R2 | 21,214,464 | 441,583 | 48.04 |
Class R3 | 77,453,151 | 1,573,573 | 49.22 |
Class R4 | 42,883,197 | 858,919 | 49.93 |
Class R6 | 1,905,416,807 | 36,103,393 | 52.78 |
(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 $52.39 [100 / 94.25 x $49.38]. 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 | $57,309,552 |
Other | 299,078 |
Dividends from affiliated issuers | 32,492 |
Income on securities loaned | 14,496 |
Foreign taxes withheld | (92,111) |
Total investment income | $57,563,507 |
Expenses | |
Management fee | $26,886,948 |
Distribution and service fees | 7,061,484 |
Shareholder servicing costs | 3,676,105 |
Administrative services fee | 551,601 |
Independent Trustees' compensation | 63,148 |
Custodian fee | 135,918 |
Shareholder communications | 233,817 |
Audit and tax fees | 61,043 |
Legal fees | 32,318 |
Dividend and interest expense on securities sold short | 1,098,119 |
Interest expense and fees | 20,567 |
Miscellaneous | 392,564 |
Total expenses | $40,213,632 |
Reduction of expenses by investment adviser and distributor | (604,576) |
Net expenses | $39,609,056 |
Net investment income (loss) | $17,954,451 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $447,920,128 |
Affiliated issuers | 1,159 |
Securities sold short | (5,158,206) |
Foreign currency | 330 |
Net realized gain (loss) | $442,763,411 |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers | $917,985,744 |
Affiliated issuers | (1,160) |
Securities sold short | (3,620,727) |
Net unrealized gain (loss) | $914,363,857 |
Net realized and unrealized gain (loss) | $1,357,127,268 |
Change in net assets from operations | $1,375,081,719 |
Year ended | ||
8/31/21 | 8/31/20 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $17,954,451 | $23,072,077 |
Net realized gain (loss) | 442,763,411 | 55,195,544 |
Net unrealized gain (loss) | 914,363,857 | 632,077,913 |
Change in net assets from operations | $1,375,081,719 | $710,345,534 |
Total distributions to shareholders | $(74,503,092) | $(63,849,497) |
Change in net assets from fund share transactions | $413,702,147 | $925,656,630 |
Total change in net assets | $1,714,280,774 | $1,572,152,667 |
Net assets | ||
At beginning of period | 4,379,746,411 | 2,807,593,744 |
At end of period | $6,094,027,185 | $4,379,746,411 |
Class A | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $38.41 | $32.45 | $34.18 | $30.46 | $26.72 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.09 | $0.19 | $0.20 | $0.20 | $0.18(c) |
Net realized and unrealized gain (loss) | 11.50 | 6.41 | 1.05 | 5.63 | 4.53 |
Total from investment operations | $11.59 | $6.60 | $1.25 | $5.83 | $4.71 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.15) | $(0.15) | $(0.16) | $(0.17) | $(0.16) |
From net realized gain | (0.47) | (0.49) | (2.82) | (1.94) | (0.81) |
Total distributions declared to shareholders | $(0.62) | $(0.64) | $(2.98) | $(2.11) | $(0.97) |
Net asset value, end of period (x) | $49.38 | $38.41 | $32.45 | $34.18 | $30.46 |
Total return (%) (r)(s)(t)(x) | 30.57 | 20.59 | 4.94 | 19.89 | 18.11(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.94 | 0.97 | 1.00 | 1.00 | 1.03(c) |
Expenses after expense reductions (f) | 0.92 | 0.96 | 0.98 | 0.99 | 1.01(c) |
Net investment income (loss) | 0.22 | 0.56 | 0.65 | 0.62 | 0.63(c) |
Portfolio turnover | 38 | 46 | 39 | 42 | 46 |
Net assets at end of period (000 omitted) | $2,462,032 | $1,960,597 | $1,373,524 | $1,184,976 | $992,736 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 0.90 | 0.93 | 0.96 | 0.97 | 1.00(c) |
Class B | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $33.24 | $28.23 | $30.19 | $27.17 | $23.96 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.19) | $(0.05) | $(0.03) | $(0.04) | $(0.03)(c) |
Net realized and unrealized gain (loss) | 9.91 | 5.55 | 0.89 | 5.00 | 4.05 |
Total from investment operations | $9.72 | $5.50 | $0.86 | $4.96 | $4.02 |
Less distributions declared to shareholders | |||||
From net investment income | $— | $— | $— | $— | $— |
From net realized gain | (0.47) | (0.49) | (2.82) | (1.94) | (0.81) |
Total distributions declared to shareholders | $(0.47) | $(0.49) | $(2.82) | $(1.94) | $(0.81) |
Net asset value, end of period (x) | $42.49 | $33.24 | $28.23 | $30.19 | $27.17 |
Total return (%) (r)(s)(t)(x) | 29.58 | 19.69 | 4.16 | 19.01 | 17.21(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.69 | 1.72 | 1.75 | 1.75 | 1.78(c) |
Expenses after expense reductions (f) | 1.67 | 1.71 | 1.73 | 1.74 | 1.77(c) |
Net investment income (loss) | (0.53) | (0.18) | (0.11) | (0.14) | (0.12)(c) |
Portfolio turnover | 38 | 46 | 39 | 42 | 46 |
Net assets at end of period (000 omitted) | $24,861 | $25,018 | $22,759 | $26,993 | $27,139 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 1.65 | 1.68 | 1.71 | 1.72 | 1.75(c) |
Class C | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $32.72 | $27.86 | $29.84 | $26.88 | $23.71 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.19) | $(0.05) | $(0.03) | $(0.05) | $(0.03)(c) |
Net realized and unrealized gain (loss) | 9.77 | 5.46 | 0.87 | 4.95 | 4.01 |
Total from investment operations | $9.58 | $5.41 | $0.84 | $4.90 | $3.98 |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.06) | $— | $— | $— |
From net realized gain | (0.47) | (0.49) | (2.82) | (1.94) | (0.81) |
Total distributions declared to shareholders | $(0.47) | $(0.55) | $(2.82) | $(1.94) | $(0.81) |
Net asset value, end of period (x) | $41.83 | $32.72 | $27.86 | $29.84 | $26.88 |
Total return (%) (r)(s)(t)(x) | 29.62 | 19.66 | 4.14 | 18.98 | 17.22(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.69 | 1.72 | 1.75 | 1.75 | 1.78(c) |
Expenses after expense reductions (f) | 1.67 | 1.71 | 1.74 | 1.74 | 1.77(c) |
Net investment income (loss) | (0.53) | (0.18) | (0.10) | (0.17) | (0.12)(c) |
Portfolio turnover | 38 | 46 | 39 | 42 | 46 |
Net assets at end of period (000 omitted) | $140,242 | $128,709 | $72,093 | $56,413 | $89,946 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 1.65 | 1.69 | 1.71 | 1.72 | 1.75(c) |
Class I | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $40.87 | $34.47 | $36.12 | $32.07 | $28.10 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.22 | $0.29 | $0.30 | $0.30 | $0.26(c) |
Net realized and unrealized gain (loss) | 12.24 | 6.82 | 1.11 | 5.93 | 4.76 |
Total from investment operations | $12.46 | $7.11 | $1.41 | $6.23 | $5.02 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.24) | $(0.22) | $(0.24) | $(0.24) | $(0.24) |
From net realized gain | (0.47) | (0.49) | (2.82) | (1.94) | (0.81) |
Total distributions declared to shareholders | $(0.71) | $(0.71) | $(3.06) | $(2.18) | $(1.05) |
Net asset value, end of period (x) | $52.62 | $40.87 | $34.47 | $36.12 | $32.07 |
Total return (%) (r)(s)(t)(x) | 30.91 | 20.89 | 5.17 | 20.21 | 18.38(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.68 | 0.72 | 0.75 | 0.75 | 0.78(c) |
Expenses after expense reductions (f) | 0.67 | 0.71 | 0.74 | 0.74 | 0.77(c) |
Net investment income (loss) | 0.47 | 0.81 | 0.90 | 0.88 | 0.88(c) |
Portfolio turnover | 38 | 46 | 39 | 42 | 46 |
Net assets at end of period (000 omitted) | $1,416,134 | $841,296 | $467,860 | $246,779 | $122,055 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 0.65 | 0.69 | 0.72 | 0.73 | 0.75(c) |
Class R1 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $32.77 | $27.84 | $29.82 | $26.86 | $23.70 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.19) | $(0.06) | $(0.03) | $(0.04) | $(0.03)(c) |
Net realized and unrealized gain (loss) | 9.78 | 5.48 | 0.87 | 4.94 | 4.00 |
Total from investment operations | $9.59 | $5.42 | $0.84 | $4.90 | $3.97 |
Less distributions declared to shareholders | |||||
From net investment income | $— | $— | $— | $— | $— |
From net realized gain | (0.47) | (0.49) | (2.82) | (1.94) | (0.81) |
Total distributions declared to shareholders | $(0.47) | $(0.49) | $(2.82) | $(1.94) | $(0.81) |
Net asset value, end of period (x) | $41.89 | $32.77 | $27.84 | $29.82 | $26.86 |
Total return (%) (r)(s)(t)(x) | 29.60 | 19.68 | 4.14 | 19.00 | 17.19(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.69 | 1.72 | 1.75 | 1.75 | 1.78(c) |
Expenses after expense reductions (f) | 1.67 | 1.71 | 1.74 | 1.74 | 1.77(c) |
Net investment income (loss) | (0.53) | (0.20) | (0.11) | (0.14) | (0.13)(c) |
Portfolio turnover | 38 | 46 | 39 | 42 | 46 |
Net assets at end of period (000 omitted) | $3,791 | $3,816 | $3,186 | $3,448 | $3,103 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 1.65 | 1.69 | 1.71 | 1.73 | 1.75(c) |
Class R2 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $37.40 | $31.61 | $33.33 | $29.75 | $26.12 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.01) | $0.10 | $0.12 | $0.11 | $0.10(c) |
Net realized and unrealized gain (loss) | 11.20 | 6.24 | 1.02 | 5.50 | 4.43 |
Total from investment operations | $11.19 | $6.34 | $1.14 | $5.61 | $4.53 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.08) | $(0.06) | $(0.04) | $(0.09) | $(0.09) |
From net realized gain | (0.47) | (0.49) | (2.82) | (1.94) | (0.81) |
Total distributions declared to shareholders | $(0.55) | $(0.55) | $(2.86) | $(2.03) | $(0.90) |
Net asset value, end of period (x) | $48.04 | $37.40 | $31.61 | $33.33 | $29.75 |
Total return (%) (r)(s)(t)(x) | 30.27 | 20.28 | 4.66 | 19.61 | 17.80(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.19 | 1.22 | 1.25 | 1.25 | 1.28(c) |
Expenses after expense reductions (f) | 1.16 | 1.20 | 1.23 | 1.24 | 1.27(c) |
Net investment income (loss) | (0.02) | 0.31 | 0.39 | 0.35 | 0.38(c) |
Portfolio turnover | 38 | 46 | 39 | 42 | 46 |
Net assets at end of period (000 omitted) | $21,214 | $17,335 | $13,416 | $15,202 | $16,508 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 1.14 | 1.17 | 1.20 | 1.22 | 1.25(c) |
Class R3 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $38.29 | $32.36 | $34.11 | $30.33 | $26.61 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.09 | $0.19 | $0.20 | $0.20 | $0.17(c) |
Net realized and unrealized gain (loss) | 11.47 | 6.38 | 1.04 | 5.61 | 4.52 |
Total from investment operations | $11.56 | $6.57 | $1.24 | $5.81 | $4.69 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.16) | $(0.15) | $(0.17) | $(0.09) | $(0.16) |
From net realized gain | (0.47) | (0.49) | (2.82) | (1.94) | (0.81) |
Total distributions declared to shareholders | $(0.63) | $(0.64) | $(2.99) | $(2.03) | $(0.97) |
Net asset value, end of period (x) | $49.22 | $38.29 | $32.36 | $34.11 | $30.33 |
Total return (%) (r)(s)(t)(x) | 30.59 | 20.56 | 4.91 | 19.91 | 18.10(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.94 | 0.97 | 1.00 | 1.00 | 1.02(c) |
Expenses after expense reductions (f) | 0.92 | 0.96 | 0.99 | 0.99 | 1.02(c) |
Net investment income (loss) | 0.22 | 0.56 | 0.64 | 0.61 | 0.62(c) |
Portfolio turnover | 38 | 46 | 39 | 42 | 46 |
Net assets at end of period (000 omitted) | $77,453 | $63,347 | $42,199 | $34,916 | $28,075 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 0.90 | 0.94 | 0.96 | 0.98 | 1.00(c) |
Class R4 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $38.81 | $32.76 | $34.48 | $30.71 | $26.93 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.20 | $0.27 | $0.28 | $0.28 | $0.25(c) |
Net realized and unrealized gain (loss) | 11.63 | 6.48 | 1.05 | 5.67 | 4.57 |
Total from investment operations | $11.83 | $6.75 | $1.33 | $5.95 | $4.82 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.24) | $(0.21) | $(0.23) | $(0.24) | $(0.23) |
From net realized gain | (0.47) | (0.49) | (2.82) | (1.94) | (0.81) |
Total distributions declared to shareholders | $(0.71) | $(0.70) | $(3.05) | $(2.18) | $(1.04) |
Net asset value, end of period (x) | $49.93 | $38.81 | $32.76 | $34.48 | $30.71 |
Total return (%) (r)(s)(t)(x) | 30.92 | 20.88 | 5.18 | 20.18 | 18.40(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.69 | 0.72 | 0.75 | 0.75 | 0.78(c) |
Expenses after expense reductions (f) | 0.67 | 0.71 | 0.74 | 0.74 | 0.77(c) |
Net investment income (loss) | 0.47 | 0.80 | 0.89 | 0.86 | 0.87(c) |
Portfolio turnover | 38 | 46 | 39 | 42 | 46 |
Net assets at end of period (000 omitted) | $42,883 | $35,770 | $29,218 | $27,707 | $22,494 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 0.65 | 0.69 | 0.71 | 0.73 | 0.76(c) |
Class R6 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $40.98 | $34.55 | $36.18 | $32.12 | $28.13 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.25 | $0.32 | $0.32 | $0.32 | $0.29(c) |
Net realized and unrealized gain (loss) | 12.29 | 6.83 | 1.13 | 5.95 | 4.77 |
Total from investment operations | $12.54 | $7.15 | $1.45 | $6.27 | $5.06 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.27) | $(0.23) | $(0.26) | $(0.27) | $(0.26) |
From net realized gain | (0.47) | (0.49) | (2.82) | (1.94) | (0.81) |
Total distributions declared to shareholders | $(0.74) | $(0.72) | $(3.08) | $(2.21) | $(1.07) |
Net asset value, end of period (x) | $52.78 | $40.98 | $34.55 | $36.18 | $32.12 |
Total return (%) (r)(s)(t)(x) | 31.03 | 20.98 | 5.28 | 20.29 | 18.49(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.60 | 0.64 | 0.67 | 0.67 | 0.69(c) |
Expenses after expense reductions (f) | 0.59 | 0.63 | 0.66 | 0.66 | 0.68(c) |
Net investment income (loss) | 0.56 | 0.89 | 0.98 | 0.95 | 0.97(c) |
Portfolio turnover | 38 | 46 | 39 | 42 | 46 |
Net assets at end of period (000 omitted) | $1,905,417 | $1,303,858 | $783,340 | $577,588 | $393,153 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 0.57 | 0.60 | 0.63 | 0.65 | 0.66(c) |
(c) | Amount reflects a one-time reimbursement of expenses by the custodian (or former custodian) without which net investment income and performance would be lower and expenses would be higher. |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. |
(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. Excluding the effect of the proceeds received from a non-recurring litigation settlement against Household International, Inc., the total return for the year ended August 31, 2017 would have been lower by approximately 0.85%. |
(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 | $6,019,601,610 | $— | $— | $6,019,601,610 |
Mutual Funds | 91,616,920 | — | — | 91,616,920 |
Total | $6,111,218,530 | $— | $— | $6,111,218,530 |
Securities Sold Short | $(28,281,757) | $— | $— | $(28,281,757) |
Year ended 8/31/21 | Year ended 8/31/20 | |
Ordinary income (including any short-term capital gains) | $21,997,904 | $21,649,474 |
Long-term capital gains | 52,505,188 | 42,200,023 |
Total distributions | $74,503,092 | $63,849,497 |
As of 8/31/21 | |
Cost of investments | $3,953,594,940 |
Gross appreciation | 2,162,233,074 |
Gross depreciation | (32,891,241) |
Net unrealized appreciation (depreciation) | $2,129,341,833 |
Undistributed ordinary income | 182,423,257 |
Undistributed long-term capital gain | 245,998,837 |
Other temporary differences | 3,865,348 |
Total distributable earnings (loss) | $2,561,629,275 |
Year ended 8/31/21 | Year ended 8/31/20 | ||
Class A | $30,040,189 | $29,982,091 | |
Class B | 331,454 | 475,008 | |
Class C | 1,808,146 | 2,151,200 | |
Class I | 15,698,076 | 11,488,721 | |
Class R1 | 46,383 | 53,754 | |
Class R2 | 249,807 | 241,357 | |
Class R3 | 1,071,678 | 966,738 | |
Class R4 | 669,489 | 613,572 | |
Class R6 | 24,587,870 | 17,877,056 | |
Total | $74,503,092 | $63,849,497 |
Up to $500 million | 0.65% |
In excess of $500 million and up to $2.5 billion | 0.55% |
In excess of $2.5 billion and up to $5 billion | 0.50% |
In excess of $5 billion and up to $10 billion | 0.47% |
In excess of $10 billion | 0.45% |
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% | $ 5,215,365 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 243,557 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 1,293,884 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 35,637 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.49% | 94,736 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 178,305 |
Total Distribution and Service Fees | $7,061,484 |
(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 year ended August 31, 2021 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 year ended August 31, 2021, this rebate amounted to $3,837, $124, $47, and $2,447 for Class A, Class B, Class C, and Class R2, respectively, and is included in the reduction of total expenses in the Statement of Operations. |
Amount | |
Class A | $20,676 |
Class B | 11,722 |
Class C | 12,450 |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 9,211,619 | $393,647,217 | 13,359,125 | $444,546,994 | |
Class B | 11,050 | 402,439 | 16,015 | 461,171 | |
Class C | 685,105 | 24,071,525 | 1,193,239 | 33,789,506 | |
Class I | 11,744,494 | 537,407,557 | 13,643,490 | 483,212,574 | |
Class R1 | 14,117 | 505,091 | 30,228 | 886,683 | |
Class R2 | 116,552 | 4,749,423 | 168,747 | 5,517,683 | |
Class R3 | 424,323 | 17,624,848 | 676,288 | 22,617,465 | |
Class R4 | 164,900 | 6,980,564 | 235,013 | 7,871,251 | |
Class R6 | 12,032,991 | 545,382,832 | 13,853,751 | 492,297,297 | |
34,405,151 | $1,530,771,496 | 43,175,896 | $1,491,200,624 | ||
Shares issued in connection with acquisition of MFS Equity Opportunities Fund | |||||
Class A | 3,575,449 | $118,383,117 | |||
Class B | 246,884 | 7,102,850 | |||
Class C | 1,200,588 | 34,084,698 | |||
Class I | 1,634,666 | 57,523,902 | |||
Class R1 | 3,682 | 104,467 | |||
Class R2 | 15,173 | 489,189 | |||
Class R3 | 23,823 | 786,385 | |||
Class R4 | 22,752 | 760,839 | |||
Class R6 | 229,660 | 8,100,125 | |||
6,952,677 | $227,335,572 |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 724,146 | $28,994,825 | 856,833 | $28,952,375 | |
Class B | 9,268 | 321,121 | 15,738 | 462,711 | |
Class C | 49,935 | 1,703,281 | 69,056 | 1,999,170 | |
Class I | 348,791 | 14,855,003 | 301,669 | 10,829,902 | |
Class R1 | 1,358 | 46,383 | 1,854 | 53,754 | |
Class R2 | 6,393 | 249,513 | 7,179 | 236,698 | |
Class R3 | 26,846 | 1,071,678 | 28,695 | 966,738 | |
Class R4 | 16,273 | 657,586 | 17,867 | 609,088 | |
Class R6 | 556,640 | 23,768,523 | 467,693 | 16,822,916 | |
1,739,650 | $71,667,913 | 1,766,584 | $60,933,352 | ||
Shares reacquired | |||||
Class A | (11,122,341) | $(453,678,972) | (9,074,188) | $(303,186,936) | |
Class B | (188,005) | (6,835,400) | (332,169) | (9,544,617) | |
Class C | (1,315,610) | (46,164,817) | (1,117,261) | (31,515,132) | |
Class I | (5,763,622) | (260,966,836) | (8,568,077) | (289,832,177) | |
Class R1 | (41,418) | (1,451,025) | (33,748) | (977,923) | |
Class R2 | (144,822) | (5,992,608) | (152,091) | (4,969,187) | |
Class R3 | (531,877) | (22,914,796) | (378,685) | (12,555,878) | |
Class R4 | (243,901) | (10,478,244) | (245,862) | (8,245,405) | |
Class R6 | (8,303,149) | (380,254,564) | (5,407,667) | (192,985,663) | |
(27,654,745) | $(1,188,737,262) | (25,309,748) | $(853,812,918) | ||
Net change | |||||
Class A | (1,186,576) | $(31,036,930) | 8,717,219 | $288,695,550 | |
Class B | (167,687) | (6,111,840) | (53,532) | (1,517,885) | |
Class C | (580,570) | (20,390,011) | 1,345,622 | 38,358,242 | |
Class I | 6,329,663 | 291,295,724 | 7,011,748 | 261,734,201 | |
Class R1 | (25,943) | (899,551) | 2,016 | 66,981 | |
Class R2 | (21,877) | (993,672) | 39,008 | 1,274,383 | |
Class R3 | (80,708) | (4,218,270) | 350,121 | 11,814,710 | |
Class R4 | (62,728) | (2,840,094) | 29,770 | 995,773 | |
Class R6 | 4,286,482 | 188,896,791 | 9,143,437 | 324,234,675 | |
8,490,056 | $413,702,147 | 26,585,409 | $925,656,630 |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $44,904,141 | $829,617,727 | $782,904,947 | $1,159 | $(1,160) | $91,616,920 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $32,492 | $— |
October 15, 2021
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEES | ||||||||||
Robert J. Manning (k) (age 57) | Trustee | February 2004 | 136 | Massachusetts Financial Services Company, Non-Executive Chairman (since January 2021); Director; Chairman of the Board; Executive Chairman (January 2017-2020); Co-Chief Executive Officer (2015-2016) | N/A | |||||
Michael W. Roberge (k) (age 55) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; President (until December 2018); Chief Investment Officer (until December 2018); Co-Chief Executive Officer (until December 2016) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 66) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 70) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 67) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 66) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 66) | Trustee | January 2019 | 136 | Private investor | N/A |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
James W. Kilman, Jr. (age 60) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016); Morgan Stanley & Co. (financial services), Vice Chairman of Investment Banking, Co-Head of Diversified Financials Coverage – Financial Institutions Investment Banking Group (until 2016) | Alpha-En Corporation, Director (2016-2019) | |||||
Clarence Otis, Jr. (age 65) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 65) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 64) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 47) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Associate General Counsel | ||||
Kino Clark (k) (age 53) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
John W. Clark, Jr. (k) (age 54) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President (since March 2017); Deutsche Bank (financial services), Department Head - Treasurer's Office (until February 2017) | ||||
Thomas H. Connors (k) (age 62) | Assistant Secretary and Assistant Clerk | September 2012 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
David L. DiLorenzo (k) (age 53) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 54) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel (since March 2017); Harris Associates (investment management), General Counsel (until January 2017) | ||||
Brian E. Langenfeld (k) (age 48) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
Amanda S. Mooradian (k) (age 42) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 50) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Kasey L. Phillips (k) (age 50) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 46) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Martin J. Wolin (k) (age 54) | Chief Compliance Officer | July 2015 | 136 | Massachusetts Financial Services Company, Senior Vice President and Chief Compliance Officer |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
James O. Yost (k) (age 61) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. For the period from December 15, 2004 until February 22, 2005, Mr. Manning served as Advisory Trustee. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | State Street Bank and Trust Company 1 Lincoln Street Boston, MA 02111-2900 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Ernst & Young LLP 200 Clarendon Street Boston, MA 02116 |
Portfolio Manager(s) | |
Joseph MacDougall |
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
Equity Fund
Equity Fund
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12 | |
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back cover |
Adobe Systems, Inc. | 3.5% |
Roche Holding AG | 2.8% |
Johnson & Johnson | 2.8% |
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 2.7% |
CLP Holdings Ltd. | 2.6% |
Alphabet, Inc., “A” | 2.2% |
Novo Nordisk A.S., “B” | 2.1% |
Starbucks Corp. | 1.9% |
KDDI Corp. | 1.9% |
Constellation Software, Inc. | 1.9% |
Information Technology | 18.2% |
Health Care | 16.3% |
Communication Services | 12.7% |
Consumer Staples | 11.6% |
Financials | 10.8% |
Consumer Discretionary | 8.2% |
Utilities | 7.3% |
Industrials | 5.9% |
Real Estate | 5.4% |
Materials | 3.1% |
United States | 47.9% |
Japan | 11.3% |
Canada | 9.7% |
Switzerland | 5.4% |
Hong Kong | 4.0% |
Germany | 3.0% |
Taiwan | 2.7% |
Denmark | 2.1% |
Philippines | 1.9% |
Other Countries | 12.0% |
United States Dollar | 53.7% |
Japanese Yen | 11.3% |
Euro | 5.5% |
Swiss Franc | 5.4% |
Canadian Dollar | 4.4% |
Hong Kong Dollar | 4.0% |
Taiwan Dollar | 2.7% |
Danish Krone | 2.1% |
Philippine Peso | 1.9% |
Other Currencies | 9.0% |
(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. |
(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. |
(b) | Security is not a benchmark constituent. |
Share Class | Class Inception Date | 1-yr | 5-yr | Life (t) |
A | 12/05/13 | 21.83% | 10.09% | 9.30% |
B | 12/05/13 | 20.88% | 9.24% | 8.44% |
C | 12/05/13 | 21.00% | 9.26% | 8.45% |
I | 12/05/13 | 22.21% | 10.36% | 9.54% |
R1 | 12/05/13 | 20.96% | 9.25% | 8.45% |
R2 | 12/05/13 | 21.56% | 9.80% | 8.99% |
R3 | 12/05/13 | 21.81% | 10.07% | 9.27% |
R4 | 12/05/13 | 22.21% | 10.36% | 9.54% |
R6 | 12/05/13 | 22.25% | 10.42% | 9.59% |
MSCI All Country World Index (net div) (f) | 28.64% | 14.29% | 10.52% |
A With Initial Sales Charge (5.75%) | 14.83% | 8.80% | 8.46% |
B With CDSC (Declining over six years from 4% to 0%) (v) | 16.88% | 8.96% | 8.44% |
C With CDSC (1% for 12 months) (v) | 20.00% | 9.26% | 8.45% |
(f) | Source: FactSet Research Systems Inc. |
(t) | For the period from the class inception date through the stated period end. (See Notes to Performance Summary.) |
(v) | Assuming redemption at the end of the applicable period. |
(e) | Morgan Stanley Capital International (“MSCI”) makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. |
March 1, 2021 through August 31, 2021
Share Class | Annualized Expense Ratio | Beginning Account Value 3/01/21 | Ending Account Value 8/31/21 | Expenses Paid During Period (p) 3/01/21-8/31/21 | |
A | Actual | 0.99% | $1,000.00 | $1,160.24 | $5.39 |
Hypothetical (h) | 0.99% | $1,000.00 | $1,020.21 | $5.04 | |
B | Actual | 1.74% | $1,000.00 | $1,154.98 | $9.45 |
Hypothetical (h) | 1.74% | $1,000.00 | $1,016.43 | $8.84 | |
C | Actual | 1.74% | $1,000.00 | $1,155.93 | $9.46 |
Hypothetical (h) | 1.74% | $1,000.00 | $1,016.43 | $8.84 | |
I | Actual | 0.74% | $1,000.00 | $1,161.65 | $4.03 |
Hypothetical (h) | 0.74% | $1,000.00 | $1,021.48 | $3.77 | |
R1 | Actual | 1.74% | $1,000.00 | $1,155.08 | $9.45 |
Hypothetical (h) | 1.74% | $1,000.00 | $1,016.43 | $8.84 | |
R2 | Actual | 1.24% | $1,000.00 | $1,159.01 | $6.75 |
Hypothetical (h) | 1.24% | $1,000.00 | $1,018.95 | $6.31 | |
R3 | Actual | 0.99% | $1,000.00 | $1,160.08 | $5.39 |
Hypothetical (h) | 0.99% | $1,000.00 | $1,020.21 | $5.04 | |
R4 | Actual | 0.74% | $1,000.00 | $1,161.67 | $4.03 |
Hypothetical (h) | 0.74% | $1,000.00 | $1,021.48 | $3.77 | |
R6 | Actual | 0.67% | $1,000.00 | $1,161.55 | $3.65 |
Hypothetical (h) | 0.67% | $1,000.00 | $1,021.83 | $3.41 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 98.6% | ||||
Aerospace & Defense – 0.4% | ||||
Lockheed Martin Corp. | 2,213 | $ 796,237 | ||
Automotive – 0.6% | ||||
USS Co. Ltd. | 87,300 | $ 1,445,015 | ||
Biotechnology – 0.6% | ||||
Vertex Pharmaceuticals, Inc. (a) | 6,931 | $ 1,388,210 | ||
Brokerage & Asset Managers – 0.9% | ||||
ASX Ltd. | 17,727 | $ 1,138,218 | ||
IG Group Holdings PLC | 75,347 | 970,128 | ||
$2,108,346 | ||||
Business Services – 3.8% | ||||
CGI, Inc. (a) | 17,297 | $ 1,545,660 | ||
Eurofins Scientific SE | 13,265 | 1,880,771 | ||
Fiserv, Inc. (a) | 19,620 | 2,311,040 | ||
Infosys Technologies Ltd., ADR | 81,282 | 1,936,137 | ||
Sohgo Security Services Co. Ltd. | 23,400 | 1,060,301 | ||
$8,733,909 | ||||
Cable TV – 0.5% | ||||
Comcast Corp., “A” | 17,215 | $ 1,044,606 | ||
Computer Software – 5.8% | ||||
Adobe Systems, Inc. (a) | 11,939 | $ 7,923,914 | ||
Microsoft Corp. | 7,783 | 2,349,532 | ||
Oracle Corp. | 31,750 | 2,829,878 | ||
$13,103,324 | ||||
Computer Software - Systems – 5.7% | ||||
Constellation Software, Inc. | 2,496 | $ 4,230,113 | ||
Fujitsu Ltd. | 14,000 | 2,583,284 | ||
Hitachi Ltd. | 26,200 | 1,449,139 | ||
NICE Systems Ltd., ADR (a) | 8,557 | 2,487,520 | ||
SS&C Technologies Holdings, Inc. | 13,465 | 1,018,762 | ||
Venture Corp. Ltd. | 87,900 | 1,252,679 | ||
$13,021,497 | ||||
Construction – 0.7% | ||||
AvalonBay Communities, Inc., REIT | 7,402 | $ 1,699,351 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Consumer Products – 1.4% | ||||
Kimberly-Clark Corp. | 13,748 | $ 1,894,612 | ||
Procter & Gamble Co. | 8,851 | 1,260,294 | ||
$3,154,906 | ||||
Electronics – 3.9% | ||||
Kyocera Corp. | 43,300 | $ 2,694,467 | ||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 51,400 | 6,117,114 | ||
$8,811,581 | ||||
Food & Beverages – 5.7% | ||||
General Mills, Inc. | 49,724 | $ 2,874,544 | ||
J.M. Smucker Co. | 7,680 | 949,786 | ||
Mondelez International, Inc. | 31,152 | 1,933,605 | ||
Nestle S.A. | 27,248 | 3,443,826 | ||
PepsiCo, Inc. | 23,836 | 3,727,712 | ||
$12,929,473 | ||||
Food & Drug Stores – 4.2% | ||||
Seven & I Holdings Co. Ltd. | 69,400 | $ 3,037,413 | ||
Sugi Holdings Co. Ltd. (l) | 11,200 | 865,336 | ||
Sundrug Co. Ltd. | 28,400 | 943,526 | ||
Tesco PLC | 286,986 | 1,006,727 | ||
Wal-Mart Stores, Inc. | 12,520 | 1,854,212 | ||
Wesfarmers Ltd. | 43,846 | 1,922,928 | ||
$9,630,142 | ||||
General Merchandise – 2.2% | ||||
B&M European Value Retail S.A. | 145,095 | $ 1,115,115 | ||
Dollar General Corp. | 13,781 | 3,071,923 | ||
Dollarama, Inc. | 19,095 | 870,713 | ||
$5,057,751 | ||||
Insurance – 3.2% | ||||
Everest Re Group Ltd. | 13,954 | $ 3,696,415 | ||
Fairfax Financial Holdings Ltd. | 2,250 | 995,964 | ||
Samsung Fire & Marine Insurance Co. Ltd. | 5,831 | 1,136,578 | ||
Zurich Insurance Group AG | 3,125 | 1,371,826 | ||
$7,200,783 | ||||
Internet – 2.6% | ||||
Alphabet, Inc., “A” (a) | 1,691 | $ 4,893,669 | ||
Alphabet, Inc., “C” (a) | 353 | 1,026,962 | ||
$5,920,631 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Leisure & Toys – 4.3% | ||||
Activision Blizzard, Inc. | 26,555 | $ 2,187,335 | ||
Electronic Arts, Inc. | 28,898 | 4,196,279 | ||
Nintendo Co. Ltd. | 1,500 | 721,265 | ||
SEGA SAMMY Holdings, Inc. | 71,800 | 969,820 | ||
Take-Two Interactive Software, Inc. (a) | 10,380 | 1,673,464 | ||
$9,748,163 | ||||
Machinery & Tools – 0.5% | ||||
Eaton Corp. PLC | 6,794 | $ 1,143,838 | ||
Major Banks – 5.6% | ||||
Bank of Nova Scotia | 15,788 | $ 977,435 | ||
BOC Hong Kong Holdings Ltd. | 991,500 | 3,008,621 | ||
DBS Group Holdings Ltd. | 79,700 | 1,776,644 | ||
JPMorgan Chase & Co. | 18,318 | 2,929,964 | ||
PNC Financial Services Group, Inc. | 10,017 | 1,914,249 | ||
Royal Bank of Canada (l) | 21,607 | 2,220,335 | ||
$12,827,248 | ||||
Medical & Health Technology & Services – 1.3% | ||||
McKesson Corp. | 9,626 | $ 1,965,052 | ||
Quest Diagnostics, Inc. | 6,775 | 1,035,423 | ||
$3,000,475 | ||||
Medical Equipment – 3.0% | ||||
Becton, Dickinson and Co. | 4,593 | $ 1,156,058 | ||
Koninklijke Philips N.V. | 15,526 | 715,694 | ||
Medtronic PLC | 13,108 | 1,749,656 | ||
Terumo Corp. | 78,400 | 3,275,961 | ||
$6,897,369 | ||||
Natural Gas - Distribution – 1.7% | ||||
Italgas S.p.A. | 460,207 | $ 3,050,589 | ||
Tokyo Gas Co. Ltd. | 46,500 | 894,369 | ||
$3,944,958 | ||||
Other Banks & Diversified Financials – 1.1% | ||||
U.S. Bancorp | 44,290 | $ 2,541,803 | ||
Pharmaceuticals – 10.5% | ||||
Eli Lilly & Co. | 10,472 | $ 2,704,813 | ||
Johnson & Johnson | 36,319 | 6,287,908 | ||
Merck & Co., Inc. | 34,278 | 2,615,069 | ||
Novartis AG | 11,451 | 1,060,257 | ||
Novo Nordisk A.S., “B” | 48,582 | 4,841,847 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Pharmaceuticals – continued | ||||
Roche Holding AG | 15,720 | $ 6,312,891 | ||
$23,822,785 | ||||
Pollution Control – 0.6% | ||||
Waste Connections, Inc. | 10,665 | $ 1,378,025 | ||
Precious Metals & Minerals – 1.7% | ||||
Franco-Nevada Corp. | 27,057 | $ 3,947,086 | ||
Railroad & Shipping – 2.5% | ||||
Canadian National Railway Co. | 17,007 | $ 2,000,533 | ||
International Container Terminal Services, Inc. | 547,250 | 2,047,100 | ||
Kansas City Southern Co. | 5,812 | 1,631,254 | ||
$5,678,887 | ||||
Real Estate – 4.7% | ||||
Grand City Properties S.A. | 137,734 | $ 3,776,257 | ||
Life Storage, Inc., REIT | 17,844 | 2,220,507 | ||
Public Storage, Inc., REIT | 5,624 | 1,819,983 | ||
Sun Communities, Inc., REIT | 14,158 | 2,852,695 | ||
$10,669,442 | ||||
Restaurants – 3.6% | ||||
McDonald's Corp. | 10,288 | $ 2,442,988 | ||
Starbucks Corp. | 37,589 | 4,416,332 | ||
Yum China Holdings, Inc. | 19,907 | 1,225,475 | ||
$8,084,795 | ||||
Specialty Chemicals – 1.4% | ||||
Symrise AG | 22,114 | $ 3,149,001 | ||
Specialty Stores – 0.5% | ||||
Target Corp. | 4,901 | $ 1,210,449 | ||
Telecommunications - Wireless – 4.1% | ||||
Advanced Info Service Public Co. Ltd. | 466,200 | $ 2,719,169 | ||
KDDI Corp. | 139,400 | 4,270,127 | ||
PLDT, Inc. | 77,870 | 2,293,056 | ||
$9,282,352 | ||||
Telephone Services – 1.7% | ||||
TELUS Corp. (l) | 166,623 | $ 3,838,994 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Tobacco – 1.1% | ||||
British American Tobacco PLC | 25,635 | $ 961,816 | ||
Japan Tobacco, Inc. | 82,200 | 1,593,342 | ||
$2,555,158 | ||||
Trucking – 0.9% | ||||
Knight-Swift Transportation Holdings, Inc. | 17,478 | $ 907,632 | ||
United Parcel Service, Inc., “B” | 5,712 | 1,117,439 | ||
$2,025,071 | ||||
Utilities - Electric Power – 5.6% | ||||
American Electric Power Co., Inc. | 22,845 | $ 2,046,226 | ||
CLP Holdings Ltd. | 596,500 | 5,963,121 | ||
Duke Energy Corp. | 8,674 | 907,821 | ||
Evergy, Inc. | 16,209 | 1,109,506 | ||
Xcel Energy, Inc. | 38,360 | 2,637,250 | ||
$12,663,924 | ||||
Total Common Stocks (Identified Cost, $156,922,753) | $ 224,455,585 | |||
Preferred Stocks – 0.9% | ||||
Computer Software - Systems – 0.9% | ||||
Samsung Electronics Co. Ltd. (Identified Cost, $2,294,968) | 34,523 | $ 2,108,093 | ||
Investment Companies (h) – 0.2% | ||||
Money Market Funds – 0.2% | ||||
MFS Institutional Money Market Portfolio, 0.04% (v) (Identified Cost, $517,066) | 517,066 | $ 517,066 | ||
Other Assets, Less Liabilities – 0.3% | 654,037 | |||
Net Assets – 100.0% | $ 227,734,781 |
(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 $517,066 and $226,563,678, respectively. | |||
(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 |
Assets | |
Investments in unaffiliated issuers, at value, including $1,250,867 of securities on loan (identified cost, $159,217,721) | $226,563,678 |
Investments in affiliated issuers, at value (identified cost, $517,066) | 517,066 |
Foreign currency, at value (identified cost, $2,224) | 2,224 |
Receivables for | |
Fund shares sold | 121,267 |
Interest and dividends | 733,545 |
Other assets | 229 |
Total assets | $227,938,009 |
Liabilities | |
Payables for | |
Fund shares reacquired | $40,629 |
Payable to affiliates | |
Investment adviser | 8,132 |
Administrative services fee | 222 |
Shareholder servicing costs | 21,627 |
Distribution and service fees | 567 |
Payable for independent Trustees' compensation | 12 |
Deferred country tax expense payable | 24,738 |
Accrued expenses and other liabilities | 107,301 |
Total liabilities | $203,228 |
Net assets | $227,734,781 |
Net assets consist of | |
Paid-in capital | $151,857,050 |
Total distributable earnings (loss) | 75,877,731 |
Net assets | $227,734,781 |
Shares of beneficial interest outstanding | 13,368,942 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $25,814,893 | 1,515,173 | $17.04 |
Class B | 475,426 | 28,125 | 16.90 |
Class C | 3,132,878 | 185,631 | 16.88 |
Class I | 102,723,262 | 6,026,499 | 17.05 |
Class R1 | 148,800 | 8,768 | 16.97 |
Class R2 | 262,628 | 15,417 | 17.04 |
Class R3 | 97,896 | 5,738 | 17.06 |
Class R4 | 91,916 | 5,392 | 17.05 |
Class R6 | 94,987,082 | 5,578,199 | 17.03 |
(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 $18.08 [100 / 94.25 x $17.04]. 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 | $4,884,183 |
Other | 12,891 |
Income on securities loaned | 4,081 |
Dividends from affiliated issuers | 467 |
Foreign taxes withheld | (309,192) |
Total investment income | $4,592,430 |
Expenses | |
Management fee | $1,191,201 |
Distribution and service fees | 98,287 |
Shareholder servicing costs | 111,333 |
Administrative services fee | 38,706 |
Independent Trustees' compensation | 6,055 |
Custodian fee | 56,357 |
Shareholder communications | 13,665 |
Audit and tax fees | 60,733 |
Legal fees | 1,319 |
Registration fees | 126,717 |
Miscellaneous | 34,051 |
Total expenses | $1,738,424 |
Reduction of expenses by investment adviser | (97,221) |
Net expenses | $1,641,203 |
Net investment income (loss) | $2,951,227 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers (net of $46 country tax) | $19,945,750 |
Foreign currency | (24,020) |
Net realized gain (loss) | $19,921,730 |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers (net of $24,738 increase in deferred country tax) | $20,608,185 |
Translation of assets and liabilities in foreign currencies | (3,744) |
Net unrealized gain (loss) | $20,604,441 |
Net realized and unrealized gain (loss) | $40,526,171 |
Change in net assets from operations | $43,477,398 |
Year ended | ||
8/31/21 | 8/31/20 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $2,951,227 | $4,302,589 |
Net realized gain (loss) | 19,921,730 | (7,796,341) |
Net unrealized gain (loss) | 20,604,441 | 11,738,072 |
Change in net assets from operations | $43,477,398 | $8,244,320 |
Total distributions to shareholders | $(3,422,711) | $(6,496,439) |
Change in net assets from fund share transactions | $(31,397,844) | $(2,060,144) |
Total change in net assets | $8,656,843 | $(312,263) |
Net assets | ||
At beginning of period | 219,077,938 | 219,390,201 |
At end of period | $227,734,781 | $219,077,938 |
Class A | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $14.18 | $13.92 | $13.73 | $12.82 | $11.87 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.17 | $0.23 | $0.25 | $0.23 | $0.19 |
Net realized and unrealized gain (loss) | 2.90 | 0.39 | 0.56 | 0.92 | 0.91 |
Total from investment operations | $3.07 | $0.62 | $0.81 | $1.15 | $1.10 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.21) | $(0.27) | $(0.23) | $(0.24) | $(0.15) |
From net realized gain | — | (0.09) | (0.39) | — | — |
Total distributions declared to shareholders | $(0.21) | $(0.36) | $(0.62) | $(0.24) | $(0.15) |
Net asset value, end of period (x) | $17.04 | $14.18 | $13.92 | $13.73 | $12.82 |
Total return (%) (r)(s)(t)(x) | 21.83 | 4.60 | 6.38 | 9.09 | 9.36 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.04 | 1.05 | 1.05 | 1.06 | 1.23 |
Expenses after expense reductions (f) | 0.99 | 0.99 | 0.98 | 0.97 | 1.17 |
Net investment income (loss) | 1.14 | 1.68 | 1.86 | 1.75 | 1.55 |
Portfolio turnover | 36 | 43 | 65 | 41 | 24 |
Net assets at end of period (000 omitted) | $25,815 | $23,494 | $19,981 | $9,102 | $9,215 |
Class B | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $14.08 | $13.82 | $13.63 | $12.73 | $11.79 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.06 | $0.12 | $0.14 | $0.13 | $0.09 |
Net realized and unrealized gain (loss) | 2.86 | 0.40 | 0.57 | 0.91 | 0.91 |
Total from investment operations | $2.92 | $0.52 | $0.71 | $1.04 | $1.00 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.10) | $(0.17) | $(0.13) | $(0.14) | $(0.06) |
From net realized gain | — | (0.09) | (0.39) | — | — |
Total distributions declared to shareholders | $(0.10) | $(0.26) | $(0.52) | $(0.14) | $(0.06) |
Net asset value, end of period (x) | $16.90 | $14.08 | $13.82 | $13.63 | $12.73 |
Total return (%) (r)(s)(t)(x) | 20.88 | 3.81 | 5.60 | 8.25 | 8.48 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.78 | 1.80 | 1.79 | 1.81 | 1.98 |
Expenses after expense reductions (f) | 1.74 | 1.75 | 1.74 | 1.74 | 1.96 |
Net investment income (loss) | 0.40 | 0.88 | 1.03 | 1.02 | 0.73 |
Portfolio turnover | 36 | 43 | 65 | 41 | 24 |
Net assets at end of period (000 omitted) | $475 | $410 | $410 | $380 | $350 |
Class C | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $14.05 | $13.80 | $13.62 | $12.71 | $11.78 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.06 | $0.12 | $0.14 | $0.13 | $0.09 |
Net realized and unrealized gain (loss) | 2.88 | 0.39 | 0.57 | 0.92 | 0.91 |
Total from investment operations | $2.94 | $0.51 | $0.71 | $1.05 | $1.00 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.11) | $(0.17) | $(0.14) | $(0.14) | $(0.07) |
From net realized gain | — | (0.09) | (0.39) | — | — |
Total distributions declared to shareholders | $(0.11) | $(0.26) | $(0.53) | $(0.14) | $(0.07) |
Net asset value, end of period (x) | $16.88 | $14.05 | $13.80 | $13.62 | $12.71 |
Total return (%) (r)(s)(t)(x) | 21.00 | 3.77 | 5.57 | 8.28 | 8.49 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.79 | 1.80 | 1.80 | 1.81 | 1.98 |
Expenses after expense reductions (f) | 1.74 | 1.75 | 1.74 | 1.74 | 1.96 |
Net investment income (loss) | 0.39 | 0.90 | 1.02 | 1.01 | 0.76 |
Portfolio turnover | 36 | 43 | 65 | 41 | 24 |
Net assets at end of period (000 omitted) | $3,133 | $3,261 | $2,876 | $1,773 | $1,924 |
Class I | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $14.18 | $13.92 | $13.73 | $12.82 | $11.87 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.21 | $0.26 | $0.28 | $0.27 | $0.23 |
Net realized and unrealized gain (loss) | 2.90 | 0.39 | 0.56 | 0.91 | 0.90 |
Total from investment operations | $3.11 | $0.65 | $0.84 | $1.18 | $1.13 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.24) | $(0.30) | $(0.26) | $(0.27) | $(0.18) |
From net realized gain | — | (0.09) | (0.39) | — | — |
Total distributions declared to shareholders | $(0.24) | $(0.39) | $(0.65) | $(0.27) | $(0.18) |
Net asset value, end of period (x) | $17.05 | $14.18 | $13.92 | $13.73 | $12.82 |
Total return (%) (r)(s)(t)(x) | 22.21 | 4.85 | 6.61 | 9.34 | 9.59 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.79 | 0.80 | 0.79 | 0.81 | 0.94 |
Expenses after expense reductions (f) | 0.74 | 0.75 | 0.74 | 0.74 | 0.90 |
Net investment income (loss) | 1.38 | 1.88 | 2.09 | 2.03 | 1.87 |
Portfolio turnover | 36 | 43 | 65 | 41 | 24 |
Net assets at end of period (000 omitted) | $102,723 | $106,849 | $118,907 | $114,259 | $97,952 |
Class R1 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $14.13 | $13.88 | $13.69 | $12.78 | $11.84 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.06 | $0.12 | $0.14 | $0.14 | $0.09 |
Net realized and unrealized gain (loss) | 2.89 | 0.39 | 0.58 | 0.91 | 0.91 |
Total from investment operations | $2.95 | $0.51 | $0.72 | $1.05 | $1.00 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.11) | $(0.17) | $(0.14) | $(0.14) | $(0.06) |
From net realized gain | — | (0.09) | (0.39) | — | — |
Total distributions declared to shareholders | $(0.11) | $(0.26) | $(0.53) | $(0.14) | $(0.06) |
Net asset value, end of period (x) | $16.97 | $14.13 | $13.88 | $13.69 | $12.78 |
Total return (%) (r)(s)(t)(x) | 20.96 | 3.74 | 5.61 | 8.29 | 8.47 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.78 | 1.80 | 1.79 | 1.81 | 1.98 |
Expenses after expense reductions (f) | 1.74 | 1.75 | 1.74 | 1.74 | 1.96 |
Net investment income (loss) | 0.40 | 0.90 | 1.03 | 1.03 | 0.75 |
Portfolio turnover | 36 | 43 | 65 | 41 | 24 |
Net assets at end of period (000 omitted) | $149 | $109 | $96 | $74 | $68 |
Class R2 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $14.18 | $13.92 | $13.73 | $12.81 | $11.87 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.15 | $0.19 | $0.21 | $0.20 | $0.15 |
Net realized and unrealized gain (loss) | 2.88 | 0.40 | 0.57 | 0.92 | 0.90 |
Total from investment operations | $3.03 | $0.59 | $0.78 | $1.12 | $1.05 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.17) | $(0.24) | $(0.20) | $(0.20) | $(0.11) |
From net realized gain | — | (0.09) | (0.39) | — | — |
Total distributions declared to shareholders | $(0.17) | $(0.33) | $(0.59) | $(0.20) | $(0.11) |
Net asset value, end of period (x) | $17.04 | $14.18 | $13.92 | $13.73 | $12.81 |
Total return (%) (r)(s)(t)(x) | 21.56 | 4.33 | 6.09 | 8.87 | 8.94 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.28 | 1.30 | 1.29 | 1.31 | 1.49 |
Expenses after expense reductions (f) | 1.24 | 1.25 | 1.24 | 1.24 | 1.47 |
Net investment income (loss) | 0.94 | 1.37 | 1.53 | 1.52 | 1.24 |
Portfolio turnover | 36 | 43 | 65 | 41 | 24 |
Net assets at end of period (000 omitted) | $263 | $170 | $75 | $66 | $61 |
Class R3 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $14.20 | $13.94 | $13.74 | $12.82 | $11.88 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.18 | $0.23 | $0.24 | $0.22 | $0.19 |
Net realized and unrealized gain (loss) | 2.89 | 0.39 | 0.58 | 0.93 | 0.90 |
Total from investment operations | $3.07 | $0.62 | $0.82 | $1.15 | $1.09 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.21) | $(0.27) | $(0.23) | $(0.23) | $(0.15) |
From net realized gain | — | (0.09) | (0.39) | — | — |
Total distributions declared to shareholders | $(0.21) | $(0.36) | $(0.62) | $(0.23) | $(0.15) |
Net asset value, end of period (x) | $17.06 | $14.20 | $13.94 | $13.74 | $12.82 |
Total return (%) (r)(s)(t)(x) | 21.81 | 4.58 | 6.42 | 9.11 | 9.24 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.04 | 1.05 | 1.04 | 1.05 | 1.21 |
Expenses after expense reductions (f) | 0.99 | 1.00 | 0.99 | 0.99 | 1.18 |
Net investment income (loss) | 1.15 | 1.65 | 1.78 | 1.69 | 1.55 |
Portfolio turnover | 36 | 43 | 65 | 41 | 24 |
Net assets at end of period (000 omitted) | $98 | $79 | $71 | $67 | $151 |
Class R4 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $14.18 | $13.92 | $13.73 | $12.82 | $11.87 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.21 | $0.26 | $0.27 | $0.27 | $0.21 |
Net realized and unrealized gain (loss) | 2.90 | 0.39 | 0.57 | 0.91 | 0.92 |
Total from investment operations | $3.11 | $0.65 | $0.84 | $1.18 | $1.13 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.24) | $(0.30) | $(0.26) | $(0.27) | $(0.18) |
From net realized gain | — | (0.09) | (0.39) | — | — |
Total distributions declared to shareholders | $(0.24) | $(0.39) | $(0.65) | $(0.27) | $(0.18) |
Net asset value, end of period (x) | $17.05 | $14.18 | $13.92 | $13.73 | $12.82 |
Total return (%) (r)(s)(t)(x) | 22.21 | 4.85 | 6.61 | 9.34 | 9.58 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.79 | 0.81 | 0.79 | 0.81 | 0.98 |
Expenses after expense reductions (f) | 0.74 | 0.75 | 0.74 | 0.74 | 0.96 |
Net investment income (loss) | 1.40 | 1.89 | 2.03 | 2.02 | 1.74 |
Portfolio turnover | 36 | 43 | 65 | 41 | 24 |
Net assets at end of period (000 omitted) | $92 | $75 | $72 | $67 | $62 |
Class R6 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $14.17 | $13.91 | $13.72 | $12.81 | $11.86 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.22 | $0.27 | $0.28 | $0.27 | $0.21 |
Net realized and unrealized gain (loss) | 2.90 | 0.40 | 0.57 | 0.92 | 0.92 |
Total from investment operations | $3.12 | $0.67 | $0.85 | $1.19 | $1.13 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.26) | $(0.32) | $(0.27) | $(0.28) | $(0.18) |
From net realized gain | — | (0.09) | (0.39) | — | — |
Total distributions declared to shareholders | $(0.26) | $(0.41) | $(0.66) | $(0.28) | $(0.18) |
Net asset value, end of period (x) | $17.03 | $14.17 | $13.91 | $13.72 | $12.81 |
Total return (%) (r)(s)(t)(x) | 22.25 | 4.94 | 6.68 | 9.42 | 9.63 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.71 | 0.73 | 0.72 | 0.74 | 0.94 |
Expenses after expense reductions (f) | 0.67 | 0.67 | 0.67 | 0.67 | 0.92 |
Net investment income (loss) | 1.44 | 2.01 | 2.11 | 2.08 | 1.77 |
Portfolio turnover | 36 | 43 | 65 | 41 | 24 |
Net assets at end of period (000 omitted) | $94,987 | $84,631 | $76,901 | $69,385 | $68,569 |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. |
(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: | ||||
United States | $107,966,257 | $— | $— | $107,966,257 |
Japan | 25,803,365 | — | — | 25,803,365 |
Canada | 22,004,858 | — | — | 22,004,858 |
Switzerland | 12,188,800 | — | — | 12,188,800 |
Hong Kong | 8,971,742 | — | — | 8,971,742 |
Germany | 6,925,258 | — | — | 6,925,258 |
Taiwan | 6,117,114 | — | — | 6,117,114 |
Denmark | 4,841,847 | — | — | 4,841,847 |
Philippines | 4,340,156 | — | — | 4,340,156 |
Other Countries | 24,685,112 | 2,719,169 | — | 27,404,281 |
Mutual Funds | 517,066 | — | — | 517,066 |
Total | $224,361,575 | $2,719,169 | $— | $227,080,744 |
Year ended 8/31/21 | Year ended 8/31/20 | |
Ordinary income (including any short-term capital gains) | $3,422,711 | $5,680,426 |
Long-term capital gains | — | 816,013 |
Total distributions | $3,422,711 | $6,496,439 |
As of 8/31/21 | |
Cost of investments | $161,837,699 |
Gross appreciation | 66,833,021 |
Gross depreciation | (1,589,976) |
Net unrealized appreciation (depreciation) | $ 65,243,045 |
Undistributed ordinary income | 375,421 |
Undistributed long-term capital gain | 10,296,568 |
Other temporary differences | (37,303) |
Total distributable earnings (loss) | $ 75,877,731 |
Year ended 8/31/21 | Year ended 8/31/20 | ||
Class A | $320,694 | $588,994 | |
Class B | 2,976 | 7,651 | |
Class C | 22,960 | 58,613 | |
Class I | 1,628,467 | 3,250,779 | |
Class R1 | 904 | 1,913 | |
Class R2 | 2,441 | 3,488 | |
Class R3 | 1,170 | 1,965 | |
Class R4 | 1,303 | 2,062 | |
Class R6 | 1,441,796 | 2,580,974 | |
Total | $3,422,711 | $6,496,439 |
Up to $1 billion | 0.55% |
In excess of $1 billion and up to $2.5 billion | 0.525% |
In excess of $2.5 billion | 0.50% |
Classes | ||||||||
A | B | C | I | R1 | R2 | R3 | R4 | R6 |
0.99% | 1.74% | 1.74% | 0.74% | 1.74% | 1.24% | 0.99% | 0.74% | 0.68% |
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% | $ 59,776 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 4,333 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 31,570 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 1,302 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 1,088 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 218 |
Total Distribution and Service Fees | $98,287 |
(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 year ended August 31, 2021 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 year ended August 31, 2021. |
Amount | |
Class A | $188 |
Class B | 123 |
Class C | 120 |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 238,665 | $3,677,447 | 930,481 | $12,771,654 | |
Class B | 63 | 1,000 | — | — | |
Class C | 39,969 | 589,206 | 58,784 | 784,363 | |
Class I | 1,328,671 | 20,430,896 | 4,136,645 | 56,160,916 | |
Class R1 | 1,001 | 14,668 | 640 | 8,848 | |
Class R2 | 3,664 | 55,033 | 6,481 | 90,999 | |
Class R3 | 61 | 965 | 360 | 5,139 | |
Class R6 | 1,210,679 | 18,635,799 | 2,541,691 | 35,247,721 | |
2,822,773 | $43,405,014 | 7,675,082 | $105,069,640 | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 21,522 | $320,507 | 43,084 | $588,562 | |
Class B | 201 | 2,976 | 556 | 7,651 | |
Class C | 1,554 | 22,794 | 4,196 | 57,613 | |
Class I | 90,681 | 1,348,772 | 199,782 | 2,735,681 | |
Class R1 | 61 | 904 | 139 | 1,913 | |
Class R2 | 162 | 2,441 | 255 | 3,488 | |
Class R3 | 78 | 1,170 | 143 | 1,965 | |
Class R4 | 87 | 1,303 | 151 | 2,062 | |
Class R6 | 93,082 | 1,384,402 | 178,952 | 2,438,265 | |
207,428 | $3,085,269 | 427,258 | $5,837,200 | ||
Shares reacquired | |||||
Class A | (402,341) | $(6,090,235) | (751,868) | $(10,081,404) | |
Class B | (1,256) | (18,832) | (1,112) | (14,669) | |
Class C | (87,888) | (1,322,033) | (39,396) | (512,171) | |
Class I | (2,926,885) | (44,656,104) | (5,342,595) | (72,181,862) | |
Class R1 | (5) | (70) | (15) | (212) | |
Class R2 | (377) | (6,259) | (181) | (2,255) | |
Class R3 | (1) | (17) | (1) | (14) | |
Class R6 | (1,698,825) | (25,794,577) | (2,275,250) | (30,174,397) | |
(5,117,578) | $(77,888,127) | (8,410,418) | $(112,966,984) |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Net change | |||||
Class A | (142,154) | $(2,092,281) | 221,697 | $3,278,812 | |
Class B | (992) | (14,856) | (556) | (7,018) | |
Class C | (46,365) | (710,033) | 23,584 | 329,805 | |
Class I | (1,507,533) | (22,876,436) | (1,006,168) | (13,285,265) | |
Class R1 | 1,057 | 15,502 | 764 | 10,549 | |
Class R2 | 3,449 | 51,215 | 6,555 | 92,232 | |
Class R3 | 138 | 2,118 | 502 | 7,090 | |
Class R4 | 87 | 1,303 | 151 | 2,062 | |
Class R6 | (395,064) | (5,774,376) | 445,393 | 7,511,589 | |
(2,087,377) | $(31,397,844) | (308,078) | $(2,060,144) |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $289,769 | $40,926,757 | $40,699,460 | $— | $— | $517,066 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $467 | $— |
October 15, 2021
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEES | ||||||||||
Robert J. Manning (k) (age 57) | Trustee | February 2004 | 136 | Massachusetts Financial Services Company, Non-Executive Chairman (since January 2021); Director; Chairman of the Board; Executive Chairman (January 2017-2020); Co-Chief Executive Officer (2015-2016) | N/A | |||||
Michael W. Roberge (k) (age 55) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; President (until December 2018); Chief Investment Officer (until December 2018); Co-Chief Executive Officer (until December 2016) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 66) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 70) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 67) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 66) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 66) | Trustee | January 2019 | 136 | Private investor | N/A |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
James W. Kilman, Jr. (age 60) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016); Morgan Stanley & Co. (financial services), Vice Chairman of Investment Banking, Co-Head of Diversified Financials Coverage – Financial Institutions Investment Banking Group (until 2016) | Alpha-En Corporation, Director (2016-2019) | |||||
Clarence Otis, Jr. (age 65) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 65) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 64) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 47) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Associate General Counsel | ||||
Kino Clark (k) (age 53) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
John W. Clark, Jr. (k) (age 54) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President (since March 2017); Deutsche Bank (financial services), Department Head - Treasurer's Office (until February 2017) | ||||
Thomas H. Connors (k) (age 62) | Assistant Secretary and Assistant Clerk | September 2012 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
David L. DiLorenzo (k) (age 53) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 54) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel (since March 2017); Harris Associates (investment management), General Counsel (until January 2017) | ||||
Brian E. Langenfeld (k) (age 48) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
Amanda S. Mooradian (k) (age 42) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 50) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Kasey L. Phillips (k) (age 50) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 46) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Martin J. Wolin (k) (age 54) | Chief Compliance Officer | July 2015 | 136 | Massachusetts Financial Services Company, Senior Vice President and Chief Compliance Officer |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
James O. Yost (k) (age 61) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. For the period from December 15, 2004 until February 22, 2005, Mr. Manning served as Advisory Trustee. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | State Street Bank and Trust Company 1 Lincoln Street Boston, MA 02111-2900 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Deloitte & Touche LLP 200 Berkeley Street Boston, MA 02116 |
Portfolio Manager(s) | |
Jim Fallon Matt Krummell Jonathan Sage Jed Stocks |
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
Equity Fund
Equity Fund
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back cover |
Alphabet, Inc., “A” | 3.7% |
Microsoft Corp. | 3.6% |
Adobe Systems, Inc. | 3.5% |
Eli Lilly & Co. | 3.1% |
Johnson & Johnson | 2.9% |
Danaher Corp. | 2.6% |
Target Corp. | 2.3% |
T-Mobile USA, Inc. | 2.1% |
PepsiCo, Inc. | 2.0% |
Amazon.com, Inc. | 2.0% |
Information Technology | 22.9% |
Health Care | 17.9% |
Communication Services | 12.2% |
Industrials | 11.7% |
Consumer Staples | 10.9% |
Financials | 7.1% |
Consumer Discretionary | 6.4% |
Utilities | 5.8% |
Real Estate | 3.3% |
Materials | 1.1% |
(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. |
(b) | Security is not a benchmark constituent. |
(h) | Security was not held in the portfolio at period end. |
Share Class | Class Inception Date | 1-yr | 5-yr | Life (t) |
A | 12/05/13 | 31.16% | 14.79% | 13.09% |
B | 12/05/13 | 30.19% | 13.93% | 12.23% |
C | 12/05/13 | 30.20% | 13.93% | 12.24% |
I | 12/05/13 | 31.55% | 15.09% | 13.37% |
R1 | 12/05/13 | 30.18% | 13.93% | 12.24% |
R2 | 12/05/13 | 30.88% | 14.51% | 12.81% |
R3 | 12/05/13 | 31.17% | 14.81% | 13.09% |
R4 | 12/05/13 | 31.47% | 15.07% | 13.36% |
R6 | 12/05/13 | 31.57% | 15.19% | 13.46% |
Standard & Poor's 500 Stock Index (f) | 31.17% | 18.02% | 14.93% |
A With Initial Sales Charge (5.75%) | 23.61% | 13.44% | 12.23% |
B With CDSC (Declining over six years from 4% to 0%) (v) | 26.19% | 13.69% | 12.23% |
C With CDSC (1% for 12 months) (v) | 29.20% | 13.93% | 12.24% |
(f) | Source: FactSet Research Systems Inc. |
(t) | For the period from the class inception date through the stated period end. (See Notes to Performance Summary.) |
(v) | Assuming redemption at the end of the applicable period. |
(g) | “Standard & Poor's®” and “S&P®” are registered trademarks of Standard & Poor's Financial Services LLC (“S&P”) and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”) and have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by MFS. The S&P 500® is a product of S&P Dow Jones Indices LLC, and has been licensed for use by MFS. MFS's product(s) is not sponsored, |
March 1, 2021 through August 31, 2021
Share Class | Annualized Expense Ratio | Beginning Account Value 3/01/21 | Ending Account Value 8/31/21 | Expenses Paid During Period (p) 3/01/21-8/31/21 | |
A | Actual | 0.89% | $1,000.00 | $1,225.95 | $4.99 |
Hypothetical (h) | 0.89% | $1,000.00 | $1,020.72 | $4.53 | |
B | Actual | 1.64% | $1,000.00 | $1,221.32 | $9.18 |
Hypothetical (h) | 1.64% | $1,000.00 | $1,016.94 | $8.34 | |
C | Actual | 1.64% | $1,000.00 | $1,221.74 | $9.18 |
Hypothetical (h) | 1.64% | $1,000.00 | $1,016.94 | $8.34 | |
I | Actual | 0.64% | $1,000.00 | $1,228.30 | $3.59 |
Hypothetical (h) | 0.64% | $1,000.00 | $1,021.98 | $3.26 | |
R1 | Actual | 1.64% | $1,000.00 | $1,221.50 | $9.18 |
Hypothetical (h) | 1.64% | $1,000.00 | $1,016.94 | $8.34 | |
R2 | Actual | 1.14% | $1,000.00 | $1,225.20 | $6.39 |
Hypothetical (h) | 1.14% | $1,000.00 | $1,019.46 | $5.80 | |
R3 | Actual | 0.89% | $1,000.00 | $1,226.34 | $4.99 |
Hypothetical (h) | 0.89% | $1,000.00 | $1,020.72 | $4.53 | |
R4 | Actual | 0.64% | $1,000.00 | $1,227.58 | $3.59 |
Hypothetical (h) | 0.64% | $1,000.00 | $1,021.98 | $3.26 | |
R6 | Actual | 0.55% | $1,000.00 | $1,228.02 | $3.09 |
Hypothetical (h) | 0.55% | $1,000.00 | $1,022.43 | $2.80 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 99.3% | ||||
Aerospace & Defense – 1.4% | ||||
CACI International, Inc., “A” (a) | 14,433 | $ 3,717,075 | ||
Honeywell International, Inc. | 11,217 | 2,601,335 | ||
Northrop Grumman Corp. | 7,289 | 2,680,165 | ||
$8,998,575 | ||||
Business Services – 6.3% | ||||
Accenture PLC, “A” | 19,458 | $ 6,548,785 | ||
Amdocs Ltd. | 158,420 | 12,203,093 | ||
CoStar Group, Inc. (a) | 40,889 | 3,464,934 | ||
Fidelity National Information Services, Inc. | 30,733 | 3,926,755 | ||
Fiserv, Inc. (a) | 32,815 | 3,865,279 | ||
FleetCor Technologies, Inc. (a) | 10,587 | 2,787,345 | ||
Global Payments, Inc. | 25,322 | 4,118,370 | ||
Verisk Analytics, Inc., “A” | 13,694 | 2,762,901 | ||
$39,677,462 | ||||
Cable TV – 3.7% | ||||
Cable One, Inc. | 4,027 | $ 8,455,049 | ||
Charter Communications, Inc., “A” (a) | 11,250 | 9,187,425 | ||
Comcast Corp., “A” | 90,175 | 5,471,819 | ||
$23,114,293 | ||||
Computer Software – 9.3% | ||||
Adobe Systems, Inc. (a) | 33,272 | $ 22,082,626 | ||
Atlassian Corp. PLC, “A” (a) | 27,938 | 10,254,922 | ||
Microsoft Corp. | 74,376 | 22,452,627 | ||
Oracle Corp. | 41,774 | 3,723,317 | ||
$58,513,492 | ||||
Computer Software - Systems – 2.7% | ||||
Apple, Inc. | 45,857 | $ 6,962,468 | ||
EPAM Systems, Inc. (a) | 10,892 | 6,892,567 | ||
ServiceNow, Inc. (a) | 4,913 | 3,162,203 | ||
$17,017,238 | ||||
Construction – 0.5% | ||||
AvalonBay Communities, Inc., REIT | 14,284 | $ 3,279,321 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Consumer Products – 1.9% | ||||
Colgate-Palmolive Co. | 30,214 | $ 2,355,181 | ||
Procter & Gamble Co. | 67,272 | 9,578,860 | ||
$11,934,041 | ||||
Electrical Equipment – 3.3% | ||||
AMETEK, Inc. | 22,145 | $ 3,011,056 | ||
Emerson Electric Co. | 27,181 | 2,867,595 | ||
Johnson Controls International PLC | 77,330 | 5,784,284 | ||
TE Connectivity Ltd. | 59,100 | 8,878,002 | ||
$20,540,937 | ||||
Electronics – 1.3% | ||||
Texas Instruments, Inc. | 43,751 | $ 8,352,503 | ||
Food & Beverages – 4.9% | ||||
General Mills, Inc. | 100,568 | $ 5,813,836 | ||
Ingredion, Inc. | 72,995 | 6,413,341 | ||
J.M. Smucker Co. | 20,324 | 2,513,469 | ||
Mondelez International, Inc. | 57,393 | 3,562,383 | ||
PepsiCo, Inc. | 80,881 | 12,648,980 | ||
$30,952,009 | ||||
Food & Drug Stores – 2.5% | ||||
Kroger Co. | 118,058 | $ 5,434,210 | ||
Wal-Mart Stores, Inc. | 70,387 | 10,424,314 | ||
$15,858,524 | ||||
General Merchandise – 1.6% | ||||
Costco Wholesale Corp. | 21,597 | $ 9,837,218 | ||
Health Maintenance Organizations – 0.4% | ||||
UnitedHealth Group, Inc. | 5,789 | $ 2,409,787 | ||
Insurance – 5.3% | ||||
Allstate Corp. | 36,910 | $ 4,993,185 | ||
Aon PLC | 23,113 | 6,630,195 | ||
Chubb Ltd. | 32,506 | 5,978,503 | ||
Everest Re Group Ltd. | 31,363 | 8,308,059 | ||
MetLife, Inc. | 118,666 | 7,357,292 | ||
$33,267,234 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Internet – 6.1% | ||||
Alphabet, Inc., “A” (a) | 7,979 | $ 23,090,827 | ||
Alphabet, Inc., “C” (a) | 3,734 | 10,863,102 | ||
Facebook, Inc., “A” (a) | 11,173 | 4,238,813 | ||
$38,192,742 | ||||
Leisure & Toys – 0.4% | ||||
Electronic Arts, Inc. | 17,212 | $ 2,499,355 | ||
Machinery & Tools – 2.7% | ||||
Eaton Corp. PLC | 68,114 | $ 11,467,673 | ||
Illinois Tool Works, Inc. | 11,412 | 2,657,399 | ||
Roper Technologies, Inc. | 5,783 | 2,794,808 | ||
$16,919,880 | ||||
Major Banks – 0.7% | ||||
PNC Financial Services Group, Inc. | 24,097 | $ 4,604,937 | ||
Medical & Health Technology & Services – 1.1% | ||||
Charles River Laboratories International, Inc. (a) | 8,080 | $ 3,586,389 | ||
McKesson Corp. | 15,786 | 3,222,554 | ||
$6,808,943 | ||||
Medical Equipment – 6.4% | ||||
Danaher Corp. | 51,080 | $ 16,558,093 | ||
Medtronic PLC | 66,389 | 8,861,603 | ||
STERIS PLC | 52,006 | 11,181,810 | ||
Thermo Fisher Scientific, Inc. | 6,085 | 3,376,871 | ||
$39,978,377 | ||||
Network & Telecom – 0.5% | ||||
Motorola Solutions, Inc. | 12,874 | $ 3,144,088 | ||
Other Banks & Diversified Financials – 3.4% | ||||
Mastercard, Inc., “A” | 30,430 | $ 10,535,779 | ||
S&P Global, Inc. | 8,477 | 3,762,262 | ||
U.S. Bancorp | 53,436 | 3,066,692 | ||
Visa, Inc., “A” | 17,835 | 4,085,999 | ||
$21,450,732 | ||||
Pharmaceuticals – 10.0% | ||||
AbbVie, Inc. | 21,670 | $ 2,617,303 | ||
Eli Lilly & Co. | 75,160 | 19,413,076 | ||
Johnson & Johnson | 105,780 | 18,313,691 | ||
Merck & Co., Inc. | 99,415 | 7,584,370 | ||
Pfizer, Inc. | 199,386 | 9,185,713 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Pharmaceuticals – continued | ||||
Zoetis, Inc. | 29,026 | $ 5,937,559 | ||
$63,051,712 | ||||
Pollution Control – 3.1% | ||||
Republic Services, Inc. | 20,582 | $ 2,554,844 | ||
Waste Connections, Inc. | 84,600 | 10,931,166 | ||
Waste Management, Inc. | 37,441 | 5,807,473 | ||
$19,293,483 | ||||
Precious Metals & Minerals – 0.6% | ||||
Newmont Corp. | 60,633 | $ 3,516,108 | ||
Real Estate – 2.7% | ||||
Extra Space Storage, Inc., REIT | 18,697 | $ 3,494,656 | ||
Public Storage, Inc., REIT | 17,862 | 5,780,322 | ||
STAG Industrial, Inc., REIT | 92,717 | 3,917,293 | ||
Sun Communities, Inc., REIT | 20,023 | 4,034,435 | ||
$17,226,706 | ||||
Restaurants – 2.2% | ||||
McDonald's Corp. | 10,985 | $ 2,608,498 | ||
Starbucks Corp. | 96,907 | 11,385,604 | ||
$13,994,102 | ||||
Specialty Chemicals – 0.5% | ||||
Ecolab, Inc. | 14,312 | $ 3,225,352 | ||
Specialty Stores – 4.2% | ||||
Amazon.com, Inc. (a) | 3,533 | $ 12,262,301 | ||
Target Corp. | 57,517 | 14,205,549 | ||
$26,467,850 | ||||
Telecommunications - Wireless – 2.1% | ||||
T-Mobile USA, Inc. (a) | 94,219 | $ 12,909,887 | ||
Trucking – 1.7% | ||||
Expeditors International of Washington, Inc. | 23,560 | $ 2,936,518 | ||
Old Dominion Freight Line, Inc. | 26,757 | 7,725,281 | ||
$10,661,799 | ||||
Utilities - Electric Power – 5.8% | ||||
American Electric Power Co., Inc. | 28,786 | $ 2,578,362 | ||
DTE Energy Co. | 35,025 | 4,214,909 | ||
Duke Energy Corp. | 49,753 | 5,207,149 | ||
Evergy, Inc. | 51,957 | 3,556,457 | ||
Exelon Corp. | 75,422 | 3,697,186 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Utilities - Electric Power – continued | ||||
NextEra Energy, Inc. | 100,876 | $ 8,472,575 | ||
Sempra Energy | 19,151 | 2,534,826 | ||
Xcel Energy, Inc. | 94,905 | 6,524,719 | ||
$36,786,183 | ||||
Total Common Stocks (Identified Cost, $401,126,276) | $624,484,870 | |||
Investment Companies (h) – 1.1% | ||||
Money Market Funds – 1.1% | ||||
MFS Institutional Money Market Portfolio, 0.04% (v) (Identified Cost, $6,858,031) | 6,858,031 | $ 6,858,031 | ||
Other Assets, Less Liabilities – (0.4)% | (2,761,249) | |||
Net Assets – 100.0% | $628,581,652 |
(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 $6,858,031 and $624,484,870, respectively. | |||
(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 (identified cost, $401,126,276) | $624,484,870 |
Investments in affiliated issuers, at value (identified cost, $6,858,031) | 6,858,031 |
Receivables for | |
Fund shares sold | 1,370,587 |
Dividends | 876,828 |
Other assets | 736 |
Total assets | $633,591,052 |
Liabilities | |
Payables for | |
Investments purchased | $1,345,126 |
Fund shares reacquired | 3,456,194 |
Payable to affiliates | |
Investment adviser | 27,444 |
Administrative services fee | 508 |
Shareholder servicing costs | 78,058 |
Distribution and service fees | 4,345 |
Payable for independent Trustees' compensation | 15 |
Accrued expenses and other liabilities | 97,710 |
Total liabilities | $5,009,400 |
Net assets | $628,581,652 |
Net assets consist of | |
Paid-in capital | $389,749,281 |
Total distributable earnings (loss) | 238,832,371 |
Net assets | $628,581,652 |
Shares of beneficial interest outstanding | 27,899,633 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $171,215,546 | 7,606,047 | $22.51 |
Class B | 2,511,293 | 111,792 | 22.46 |
Class C | 32,839,008 | 1,467,803 | 22.37 |
Class I | 335,165,408 | 14,866,200 | 22.55 |
Class R1 | 683,205 | 30,360 | 22.50 |
Class R2 | 742,491 | 32,845 | 22.61 |
Class R3 | 785,883 | 34,794 | 22.59 |
Class R4 | 106,692 | 4,729 | 22.56 |
Class R6 | 84,532,126 | 3,745,063 | 22.57 |
(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 $23.88 [100 / 94.25 x $22.51]. 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 | $9,833,424 |
Other | 9,791 |
Dividends from affiliated issuers | 1,805 |
Foreign taxes withheld | (13,838) |
Total investment income | $9,831,182 |
Expenses | |
Management fee | $3,034,562 |
Distribution and service fees | 695,053 |
Shareholder servicing costs | 513,103 |
Administrative services fee | 88,423 |
Independent Trustees' compensation | 11,211 |
Custodian fee | 37,477 |
Shareholder communications | 44,906 |
Audit and tax fees | 53,646 |
Legal fees | 4,145 |
Miscellaneous | 191,047 |
Total expenses | $4,673,573 |
Reduction of expenses by investment adviser and distributor | (154,671) |
Net expenses | $4,518,902 |
Net investment income (loss) | $5,312,280 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $45,239,814 |
Foreign currency | (25) |
Net realized gain (loss) | $45,239,789 |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers | $112,943,585 |
Translation of assets and liabilities in foreign currencies | 7 |
Net unrealized gain (loss) | $112,943,592 |
Net realized and unrealized gain (loss) | $158,183,381 |
Change in net assets from operations | $163,495,661 |
Year ended | ||
8/31/21 | 8/31/20 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $5,312,280 | $7,186,729 |
Net realized gain (loss) | 45,239,789 | (27,671,446) |
Net unrealized gain (loss) | 112,943,592 | 71,118,695 |
Change in net assets from operations | $163,495,661 | $50,633,978 |
Total distributions to shareholders | $(6,341,771) | $(7,089,150) |
Change in net assets from fund share transactions | $(240,280,530) | $280,489,527 |
Total change in net assets | $(83,126,640) | $324,034,355 |
Net assets | ||
At beginning of period | 711,708,292 | 387,673,937 |
At end of period | $628,581,652 | $711,708,292 |
Class A | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $17.32 | $16.28 | $15.05 | $13.77 | $12.56 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.14 | $0.18 | $0.18 | $0.18 | $0.16 |
Net realized and unrealized gain (loss) | 5.22 | 1.04 | 1.68 | 1.47 | 1.23 |
Total from investment operations | $5.36 | $1.22 | $1.86 | $1.65 | $1.39 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.17) | $(0.16) | $(0.17) | $(0.18) | $(0.15) |
From net realized gain | — | (0.02) | (0.46) | (0.19) | (0.03) |
Total distributions declared to shareholders | $(0.17) | $(0.18) | $(0.63) | $(0.37) | $(0.18) |
Net asset value, end of period (x) | $22.51 | $17.32 | $16.28 | $15.05 | $13.77 |
Total return (%) (r)(s)(t)(x) | 31.16 | 7.64 | 13.23 | 12.14 | 11.18 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.92 | 0.92 | 1.05 | 1.16 | 1.33 |
Expenses after expense reductions (f) | 0.89 | 0.89 | 0.89 | 0.88 | 1.16 |
Net investment income (loss) | 0.71 | 1.11 | 1.22 | 1.25 | 1.19 |
Portfolio turnover | 20 | 34 | 28 | 30 | 36 |
Net assets at end of period (000 omitted) | $171,216 | $135,199 | $85,022 | $41,177 | $39,568 |
Class B | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $17.29 | $16.25 | $15.02 | $13.74 | $12.53 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.01) | $0.06 | $0.07 | $0.07 | $0.06 |
Net realized and unrealized gain (loss) | 5.22 | 1.03 | 1.68 | 1.47 | 1.23 |
Total from investment operations | $5.21 | $1.09 | $1.75 | $1.54 | $1.29 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.04) | $(0.03) | $(0.06) | $(0.07) | $(0.05) |
From net realized gain | — | (0.02) | (0.46) | (0.19) | (0.03) |
Total distributions declared to shareholders | $(0.04) | $(0.05) | $(0.52) | $(0.26) | $(0.08) |
Net asset value, end of period (x) | $22.46 | $17.29 | $16.25 | $15.02 | $13.74 |
Total return (%) (r)(s)(t)(x) | 30.19 | 6.77 | 12.41 | 11.32 | 10.36 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.67 | 1.67 | 1.81 | 1.91 | 2.08 |
Expenses after expense reductions (f) | 1.64 | 1.64 | 1.64 | 1.64 | 1.92 |
Net investment income (loss) | (0.04) | 0.35 | 0.48 | 0.50 | 0.43 |
Portfolio turnover | 20 | 34 | 28 | 30 | 36 |
Net assets at end of period (000 omitted) | $2,511 | $2,198 | $2,558 | $2,211 | $2,081 |
Class C | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $17.22 | $16.20 | $14.98 | $13.70 | $12.50 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.01) | $0.06 | $0.07 | $0.07 | $0.06 |
Net realized and unrealized gain (loss) | 5.20 | 1.03 | 1.67 | 1.48 | 1.23 |
Total from investment operations | $5.19 | $1.09 | $1.74 | $1.55 | $1.29 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.04) | $(0.05) | $(0.06) | $(0.08) | $(0.06) |
From net realized gain | — | (0.02) | (0.46) | (0.19) | (0.03) |
Total distributions declared to shareholders | $(0.04) | $(0.07) | $(0.52) | $(0.27) | $(0.09) |
Net asset value, end of period (x) | $22.37 | $17.22 | $16.20 | $14.98 | $13.70 |
Total return (%) (r)(s)(t)(x) | 30.20 | 6.75 | 12.40 | 11.36 | 10.36 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.67 | 1.67 | 1.81 | 1.91 | 2.08 |
Expenses after expense reductions (f) | 1.64 | 1.64 | 1.64 | 1.64 | 1.92 |
Net investment income (loss) | (0.03) | 0.35 | 0.47 | 0.50 | 0.43 |
Portfolio turnover | 20 | 34 | 28 | 30 | 36 |
Net assets at end of period (000 omitted) | $32,839 | $29,429 | $21,859 | $13,942 | $12,422 |
Class I | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $17.34 | $16.31 | $15.07 | $13.78 | $12.57 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.19 | $0.22 | $0.23 | $0.21 | $0.19 |
Net realized and unrealized gain (loss) | 5.23 | 1.03 | 1.68 | 1.49 | 1.23 |
Total from investment operations | $5.42 | $1.25 | $1.91 | $1.70 | $1.42 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.21) | $(0.20) | $(0.21) | $(0.22) | $(0.18) |
From net realized gain | — | (0.02) | (0.46) | (0.19) | (0.03) |
Total distributions declared to shareholders | $(0.21) | $(0.22) | $(0.67) | $(0.41) | $(0.21) |
Net asset value, end of period (x) | $22.55 | $17.34 | $16.31 | $15.07 | $13.78 |
Total return (%) (r)(s)(t)(x) | 31.55 | 7.82 | 13.55 | 12.49 | 11.44 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.67 | 0.67 | 0.78 | 0.91 | 1.07 |
Expenses after expense reductions (f) | 0.64 | 0.64 | 0.64 | 0.64 | 0.92 |
Net investment income (loss) | 0.99 | 1.35 | 1.46 | 1.50 | 1.47 |
Portfolio turnover | 20 | 34 | 28 | 30 | 36 |
Net assets at end of period (000 omitted) | $335,165 | $464,428 | $246,245 | $30,751 | $21,814 |
Class R1 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $17.33 | $16.29 | $15.06 | $13.77 | $12.57 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.01) | $0.05 | $0.07 | $0.07 | $0.05 |
Net realized and unrealized gain (loss) | 5.23 | 1.05 | 1.68 | 1.48 | 1.24 |
Total from investment operations | $5.22 | $1.10 | $1.75 | $1.55 | $1.29 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.05) | $(0.04) | $(0.06) | $(0.07) | $(0.06) |
From net realized gain | — | (0.02) | (0.46) | (0.19) | (0.03) |
Total distributions declared to shareholders | $(0.05) | $(0.06) | $(0.52) | $(0.26) | $(0.09) |
Net asset value, end of period (x) | $22.50 | $17.33 | $16.29 | $15.06 | $13.77 |
Total return (%) (r)(s)(t)(x) | 30.18 | 6.79 | 12.37 | 11.36 | 10.33 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.67 | 1.67 | 1.81 | 1.91 | 2.07 |
Expenses after expense reductions (f) | 1.64 | 1.64 | 1.64 | 1.64 | 1.91 |
Net investment income (loss) | (0.07) | 0.34 | 0.48 | 0.49 | 0.41 |
Portfolio turnover | 20 | 34 | 28 | 30 | 36 |
Net assets at end of period (000 omitted) | $683 | $340 | $164 | $136 | $108 |
Class R2 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $17.39 | $16.36 | $15.12 | $13.83 | $12.61 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.09 | $0.14 | $0.15 | $0.14 | $0.12 |
Net realized and unrealized gain (loss) | 5.25 | 1.04 | 1.68 | 1.49 | 1.25 |
Total from investment operations | $5.34 | $1.18 | $1.83 | $1.63 | $1.37 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.12) | $(0.13) | $(0.13) | $(0.15) | $(0.12) |
From net realized gain | — | (0.02) | (0.46) | (0.19) | (0.03) |
Total distributions declared to shareholders | $(0.12) | $(0.15) | $(0.59) | $(0.34) | $(0.15) |
Net asset value, end of period (x) | $22.61 | $17.39 | $16.36 | $15.12 | $13.83 |
Total return (%) (r)(s)(t)(x) | 30.88 | 7.29 | 12.94 | 11.93 | 10.93 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.17 | 1.17 | 1.30 | 1.42 | 1.58 |
Expenses after expense reductions (f) | 1.14 | 1.14 | 1.14 | 1.14 | 1.42 |
Net investment income (loss) | 0.45 | 0.86 | 0.98 | 1.01 | 0.91 |
Portfolio turnover | 20 | 34 | 28 | 30 | 36 |
Net assets at end of period (000 omitted) | $742 | $531 | $368 | $156 | $74 |
Class R3 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $17.38 | $16.34 | $15.10 | $13.81 | $12.59 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.14 | $0.18 | $0.19 | $0.18 | $0.15 |
Net realized and unrealized gain (loss) | 5.24 | 1.05 | 1.68 | 1.48 | 1.25 |
Total from investment operations | $5.38 | $1.23 | $1.87 | $1.66 | $1.40 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.17) | $(0.17) | $(0.17) | $(0.18) | $(0.15) |
From net realized gain | — | (0.02) | (0.46) | (0.19) | (0.03) |
Total distributions declared to shareholders | $(0.17) | $(0.19) | $(0.63) | $(0.37) | $(0.18) |
Net asset value, end of period (x) | $22.59 | $17.38 | $16.34 | $15.10 | $13.81 |
Total return (%) (r)(s)(t)(x) | 31.17 | 7.65 | 13.24 | 12.18 | 11.22 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.92 | 0.93 | 1.05 | 1.16 | 1.33 |
Expenses after expense reductions (f) | 0.89 | 0.89 | 0.89 | 0.89 | 1.17 |
Net investment income (loss) | 0.70 | 1.15 | 1.22 | 1.25 | 1.18 |
Portfolio turnover | 20 | 34 | 28 | 30 | 36 |
Net assets at end of period (000 omitted) | $786 | $573 | $100 | $67 | $59 |
Class R4 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $17.36 | $16.32 | $15.08 | $13.79 | $12.58 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.18 | $0.22 | $0.22 | $0.21 | $0.19 |
Net realized and unrealized gain (loss) | 5.23 | 1.04 | 1.69 | 1.49 | 1.23 |
Total from investment operations | $5.41 | $1.26 | $1.91 | $1.70 | $1.42 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.21) | $(0.20) | $(0.21) | $(0.22) | $(0.18) |
From net realized gain | — | (0.02) | (0.46) | (0.19) | (0.03) |
Total distributions declared to shareholders | $(0.21) | $(0.22) | $(0.67) | $(0.41) | $(0.21) |
Net asset value, end of period (x) | $22.56 | $17.36 | $16.32 | $15.08 | $13.79 |
Total return (%) (r)(s)(t)(x) | 31.47 | 7.87 | 13.53 | 12.48 | 11.42 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.66 | 0.67 | 0.81 | 0.91 | 1.08 |
Expenses after expense reductions (f) | 0.64 | 0.64 | 0.64 | 0.64 | 0.92 |
Net investment income (loss) | 0.96 | 1.35 | 1.48 | 1.50 | 1.42 |
Portfolio turnover | 20 | 34 | 28 | 30 | 36 |
Net assets at end of period (000 omitted) | $107 | $81 | $75 | $66 | $59 |
Class R6 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $17.37 | $16.32 | $15.09 | $13.80 | $12.58 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.20 | $0.23 | $0.23 | $0.23 | $0.18 |
Net realized and unrealized gain (loss) | 5.23 | 1.05 | 1.68 | 1.48 | 1.27 |
Total from investment operations | $5.43 | $1.28 | $1.91 | $1.71 | $1.45 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.23) | $(0.21) | $(0.22) | $(0.23) | $(0.20) |
From net realized gain | — | (0.02) | (0.46) | (0.19) | (0.03) |
Total distributions declared to shareholders | $(0.23) | $(0.23) | $(0.68) | $(0.42) | $(0.23) |
Net asset value, end of period (x) | $22.57 | $17.37 | $16.32 | $15.09 | $13.80 |
Total return (%) (r)(s)(t)(x) | 31.57 | 8.02 | 13.56 | 12.57 | 11.61 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.58 | 0.59 | 0.71 | 0.82 | 0.97 |
Expenses after expense reductions (f) | 0.55 | 0.56 | 0.56 | 0.54 | 0.78 |
Net investment income (loss) | 1.06 | 1.45 | 1.53 | 1.60 | 1.38 |
Portfolio turnover | 20 | 34 | 28 | 30 | 36 |
Net assets at end of period (000 omitted) | $84,532 | $78,929 | $31,283 | $8,632 | $6,515 |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. |
(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 | $624,484,870 | $— | $— | $624,484,870 |
Mutual Funds | 6,858,031 | — | — | 6,858,031 |
Total | $631,342,901 | $— | $— | $631,342,901 |
Year ended 8/31/21 | Year ended 8/31/20 | |
Ordinary income (including any short-term capital gains) | $6,341,771 | $6,410,990 |
Long-term capital gains | — | 678,160 |
Total distributions | $6,341,771 | $7,089,150 |
As of 8/31/21 | |
Cost of investments | $411,963,790 |
Gross appreciation | 219,789,590 |
Gross depreciation | (410,479) |
Net unrealized appreciation (depreciation) | $219,379,111 |
Undistributed ordinary income | 418,493 |
Undistributed long-term capital gain | 19,034,760 |
Other temporary differences | 7 |
Total distributable earnings (loss) | $238,832,371 |
Year ended 8/31/21 | Year ended 8/31/20 | ||
Class A | $1,273,579 | $1,259,540 | |
Class B | 4,711 | 8,076 | |
Class C | 67,219 | 114,106 | |
Class I | 4,015,188 | 4,857,764 | |
Class R1 | 1,078 | 898 | |
Class R2 | 3,771 | 3,903 | |
Class R3 | 5,668 | 4,643 | |
Class R4 | 1,005 | 1,014 | |
Class R6 | 969,552 | 839,206 | |
Total | $6,341,771 | $7,089,150 |
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% | 0.57% |
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% | $ 364,343 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 22,585 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 298,194 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 5,248 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 3,052 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 1,631 |
Total Distribution and Service Fees | $695,053 |
(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 year ended August 31, 2021 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 year ended August 31, 2021, this rebate amounted to $33 for Class A and is included in the reduction of total expenses in the Statement of Operations. |
Amount | |
Class A | $2,814 |
Class B | 777 |
Class C | 1,315 |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 1,446,349 | $28,293,888 | 4,468,100 | $71,643,199 | |
Class B | 780 | 14,181 | 3,641 | 59,763 | |
Class C | 149,260 | 2,862,645 | 728,406 | 11,722,623 | |
Class I | 7,366,451 | 140,374,827 | 21,568,779 | 344,288,587 | |
Class R1 | 16,023 | 299,834 | 10,062 | 164,912 | |
Class R2 | 2,305 | 45,945 | 11,025 | 176,500 | |
Class R3 | 2,690 | 53,266 | 31,934 | 539,974 | |
Class R4 | 7 | 123 | 1 | 12 | |
Class R6 | 888,166 | 16,652,858 | 3,871,893 | 61,898,410 | |
9,872,031 | $188,597,567 | 30,693,841 | $490,493,980 | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 69,426 | $1,272,856 | 80,918 | $1,257,661 | |
Class B | 263 | 4,711 | 504 | 8,040 | |
Class C | 3,757 | 67,173 | 7,205 | 114,052 | |
Class I | 222,072 | 4,012,372 | 311,665 | 4,854,910 | |
Class R1 | 60 | 1,078 | 57 | 898 | |
Class R2 | 205 | 3,771 | 249 | 3,903 | |
Class R3 | 307 | 5,668 | 303 | 4,643 | |
Class R4 | 55 | 1,005 | 65 | 1,014 | |
Class R6 | 51,135 | 939,815 | 51,280 | 790,978 | |
347,280 | $6,308,449 | 452,246 | $7,036,099 | ||
Shares reacquired | |||||
Class A | (1,715,939) | $(32,744,101) | (1,963,811) | $(30,771,313) | |
Class B | (16,332) | (302,187) | (34,460) | (530,783) | |
Class C | (393,734) | (7,379,328) | (376,716) | (5,835,567) | |
Class I | (19,501,281) | (361,829,953) | (10,203,475) | (159,682,355) | |
Class R1 | (5,334) | (102,212) | (567) | (7,918) | |
Class R2 | (209) | (4,462) | (3,224) | (51,662) | |
Class R3 | (1,200) | (23,867) | (5,364) | (80,611) | |
Class R6 | (1,739,204) | (32,800,436) | (1,294,460) | (20,080,343) | |
(23,373,233) | $(435,186,546) | (13,882,077) | $(217,040,552) |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Net change | |||||
Class A | (200,164) | $(3,177,357) | 2,585,207 | $42,129,547 | |
Class B | (15,289) | (283,295) | (30,315) | (462,980) | |
Class C | (240,717) | (4,449,510) | 358,895 | 6,001,108 | |
Class I | (11,912,758) | (217,442,754) | 11,676,969 | 189,461,142 | |
Class R1 | 10,749 | 198,700 | 9,552 | 157,892 | |
Class R2 | 2,301 | 45,254 | 8,050 | 128,741 | |
Class R3 | 1,797 | 35,067 | 26,873 | 464,006 | |
Class R4 | 62 | 1,128 | 66 | 1,026 | |
Class R6 | (799,903) | (15,207,763) | 2,628,713 | 42,609,045 | |
(13,153,922) | $(240,280,530) | 17,264,010 | $280,489,527 |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $3,082,282 | $84,557,749 | $80,782,000 | $— | $— | $6,858,031 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $1,805 | $— |
October 15, 2021
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEES | ||||||||||
Robert J. Manning (k) (age 57) | Trustee | February 2004 | 136 | Massachusetts Financial Services Company, Non-Executive Chairman (since January 2021); Director; Chairman of the Board; Executive Chairman (January 2017-2020); Co-Chief Executive Officer (2015-2016) | N/A | |||||
Michael W. Roberge (k) (age 55) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; President (until December 2018); Chief Investment Officer (until December 2018); Co-Chief Executive Officer (until December 2016) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 66) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 70) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 67) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 66) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 66) | Trustee | January 2019 | 136 | Private investor | N/A |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
James W. Kilman, Jr. (age 60) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016); Morgan Stanley & Co. (financial services), Vice Chairman of Investment Banking, Co-Head of Diversified Financials Coverage – Financial Institutions Investment Banking Group (until 2016) | Alpha-En Corporation, Director (2016-2019) | |||||
Clarence Otis, Jr. (age 65) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 65) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 64) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 47) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Associate General Counsel | ||||
Kino Clark (k) (age 53) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
John W. Clark, Jr. (k) (age 54) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President (since March 2017); Deutsche Bank (financial services), Department Head - Treasurer's Office (until February 2017) | ||||
Thomas H. Connors (k) (age 62) | Assistant Secretary and Assistant Clerk | September 2012 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
David L. DiLorenzo (k) (age 53) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 54) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel (since March 2017); Harris Associates (investment management), General Counsel (until January 2017) | ||||
Brian E. Langenfeld (k) (age 48) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
Amanda S. Mooradian (k) (age 42) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 50) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Kasey L. Phillips (k) (age 50) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 46) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Martin J. Wolin (k) (age 54) | Chief Compliance Officer | July 2015 | 136 | Massachusetts Financial Services Company, Senior Vice President and Chief Compliance Officer |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
James O. Yost (k) (age 61) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. For the period from December 15, 2004 until February 22, 2005, Mr. Manning served as Advisory Trustee. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | State Street Bank and Trust Company 1 Lincoln Street Boston, MA 02111-2900 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Ernst & Young LLP 200 Clarendon Street Boston, MA 02116 |
Portfolio Manager(s) | |
Jim Fallon Matt Krummell Jonathan Sage Jed Stocks |
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
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back cover |
Rapid7, Inc. | 2.3% |
Nuvei Corp. | 2.0% |
CACI International, Inc., “A” | 1.9% |
Focus Financial Partners, “A” | 1.6% |
Q2 Holdings, Inc. | 1.6% |
Ritchie Bros. Auctioneers, Inc. | 1.6% |
AZEK Co. LLC | 1.5% |
CoreSite Realty Corp., REIT | 1.5% |
Certara, Inc. | 1.5% |
ExlService Holdings, Inc. | 1.5% |
Information Technology | 28.8% |
Health Care | 22.0% |
Industrials | 17.1% |
Consumer Discretionary | 12.1% |
Financials | 6.3% |
Real Estate | 5.2% |
Materials | 2.3% |
Consumer Staples | 1.6% |
Communication Services | 0.9% |
Energy | 0.1% |
(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. |
(b) | Security is not a benchmark constituent. |
(h) | Security was not held in the portfolio at period end. |
Share Class | Class Inception Date | 1-yr | 5-yr | 10-yr | Life (t) |
A | 1/02/97 | 39.23% | 23.50% | 16.15% | N/A |
B | 11/03/97 | 38.19% | 22.58% | 15.29% | N/A |
C | 11/03/97 | 38.21% | 22.57% | 15.28% | N/A |
I | 1/02/97 | 39.57% | 23.80% | 16.43% | N/A |
R1 | 4/01/05 | 38.20% | 22.57% | 15.28% | N/A |
R2 | 10/31/03 | 38.84% | 23.18% | 15.86% | N/A |
R3 | 4/01/05 | 39.20% | 23.49% | 16.15% | N/A |
R4 | 4/01/05 | 39.58% | 23.82% | 16.44% | N/A |
R6 | 6/01/12 | 39.73% | 23.93% | N/A | 17.86% |
Russell 2000® Growth Index (f) | 35.61% | 16.58% | 14.78% | N/A |
A With Initial Sales Charge (5.75%) | 31.22% | 22.04% | 15.47% | N/A |
B With CDSC (Declining over six years from 4% to 0%) (v) | 34.19% | 22.40% | 15.29% | N/A |
C With CDSC (1% for 12 months) (v) | 37.21% | 22.57% | 15.28% | N/A |
(f) | Source: FactSet Research Systems Inc. |
(t) | For the period from the class inception date through the stated period end (for those share classes with less than 10 years of performance history). No comparative benchmark performance information is provided for “life” periods. (See Notes to Performance Summary.) |
(v) | Assuming redemption at the end of the applicable period. |
(h) | Frank Russell Company (“Russell”) is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and/or Russell ratings or underlying data and no party may rely on any Russell |
March 1, 2021 through August 31, 2021
Share Class | Annualized Expense Ratio | Beginning Account Value 3/01/21 | Ending Account Value 8/31/21 | Expenses Paid During Period (p) 3/01/21-8/31/21 | |
A | Actual | 1.21% | $1,000.00 | $1,087.76 | $6.37 |
Hypothetical (h) | 1.21% | $1,000.00 | $1,019.11 | $6.16 | |
B | Actual | 1.96% | $1,000.00 | $1,083.85 | $10.29 |
Hypothetical (h) | 1.96% | $1,000.00 | $1,015.32 | $9.96 | |
C | Actual | 1.95% | $1,000.00 | $1,083.95 | $10.24 |
Hypothetical (h) | 1.95% | $1,000.00 | $1,015.38 | $9.91 | |
I | Actual | 0.96% | $1,000.00 | $1,089.15 | $5.06 |
Hypothetical (h) | 0.96% | $1,000.00 | $1,020.37 | $4.89 | |
R1 | Actual | 1.96% | $1,000.00 | $1,083.76 | $10.29 |
Hypothetical (h) | 1.96% | $1,000.00 | $1,015.32 | $9.96 | |
R2 | Actual | 1.45% | $1,000.00 | $1,086.21 | $7.62 |
Hypothetical (h) | 1.45% | $1,000.00 | $1,017.90 | $7.38 | |
R3 | Actual | 1.21% | $1,000.00 | $1,087.66 | $6.37 |
Hypothetical (h) | 1.21% | $1,000.00 | $1,019.11 | $6.16 | |
R4 | Actual | 0.96% | $1,000.00 | $1,089.14 | $5.06 |
Hypothetical (h) | 0.96% | $1,000.00 | $1,020.37 | $4.89 | |
R6 | Actual | 0.87% | $1,000.00 | $1,089.63 | $4.58 |
Hypothetical (h) | 0.87% | $1,000.00 | $1,020.82 | $4.43 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 96.4% | ||||
Aerospace & Defense – 2.3% | ||||
CACI International, Inc., “A” (a) | 248,616 | $ 64,028,565 | ||
Kratos Defense & Security Solutions, Inc. (a) | 504,885 | 12,480,757 | ||
$76,509,322 | ||||
Airlines – 1.2% | ||||
JetBlue Airways Corp. (a) | 2,636,947 | $ 39,897,008 | ||
Apparel Manufacturers – 1.2% | ||||
Skechers USA, Inc., “A” (a) | 804,219 | $ 40,556,764 | ||
Automotive – 0.5% | ||||
Visteon Corp. (a) | 169,203 | $ 17,881,373 | ||
Biotechnology – 6.3% | ||||
Abcam PLC (a) | 1,245,796 | $ 26,445,367 | ||
Adaptive Biotechnologies Corp. (a) | 407,145 | 14,787,506 | ||
AlloVir, Inc. (a) | 524,822 | 10,102,824 | ||
Amicus Therapeutics, Inc. (a) | 842,470 | 9,595,733 | ||
Berkeley Lights, Inc. (a) | 256,034 | 9,104,569 | ||
BioAtla, Inc. (a) | 333,933 | 13,721,307 | ||
BioXcel Therapeutics, Inc. (a) | 285,898 | 8,419,696 | ||
BridgeBio Pharma, Inc. (a) | 299,209 | 14,993,363 | ||
Immunocore Holdings PLC, ADR (a) | 229,749 | 7,940,125 | ||
Lyell Immunopharma, Inc. (a) | 665,518 | 10,508,529 | ||
MaxCyte, Inc. (a) | 1,065,814 | 16,370,903 | ||
Neurocrine Biosciences, Inc. (a) | 95,139 | 9,057,233 | ||
Olink Holding AB (a) | 326,453 | 10,449,761 | ||
Prelude Therapeutics, Inc. (a) | 322,319 | 11,503,565 | ||
Recursion Pharmaceuticals, Inc. (a) | 614,885 | 15,507,400 | ||
Sana Biotechnology, Inc. (a) | 513,674 | 12,323,039 | ||
Twist Bioscience Corp. (a) | 108,823 | 12,319,852 | ||
$213,150,772 | ||||
Brokerage & Asset Managers – 3.9% | ||||
Focus Financial Partners, “A” (a) | 1,029,513 | $ 53,411,135 | ||
GCM Grosvenor, Inc. | 827,478 | 9,201,555 | ||
GCM Grosvenor, Inc. (PIPE) (a) | 1,262,527 | 14,039,300 | ||
Hamilton Lane, Inc., “A” | 232,551 | 20,015,665 | ||
WisdomTree Investments, Inc. | 5,320,259 | 33,570,834 | ||
$130,238,489 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Business Services – 12.2% | ||||
Endava PLC, ADR (a) | 289,653 | $ 38,784,537 | ||
EVO Payments, Inc., “A” (a) | 1,693,438 | 43,081,063 | ||
ExlService Holdings, Inc. (a) | 401,208 | 49,404,753 | ||
Keywords Studios PLC (a) | 1,101,089 | 47,261,846 | ||
LegalZoom.com, Inc. (a) | 661,620 | 22,647,253 | ||
Nuvei Corp. (a) | 526,460 | 66,860,420 | ||
Payoneer Global, Inc. (a) | 2,730,496 | 28,042,194 | ||
TaskUs, Inc., “A” (a) | 646,216 | 40,646,986 | ||
TriNet Group, Inc. (a) | 339,827 | 31,291,270 | ||
WNS (Holdings) Ltd., ADR (a) | 501,755 | 41,615,560 | ||
$409,635,882 | ||||
Chemicals – 1.1% | ||||
Ingevity Corp. (a) | 456,998 | $ 36,738,069 | ||
Computer Software – 11.4% | ||||
8x8, Inc. (a) | 1,026,032 | $ 24,778,673 | ||
Alkami Technology, Inc. (a) | 991,710 | 28,323,238 | ||
Avalara, Inc. (a) | 85,444 | 15,354,287 | ||
DoubleVerify Holdings, Inc. (a) | 848,407 | 30,822,626 | ||
Everbridge, Inc. (a) | 288,607 | 45,302,641 | ||
nCino, Inc. (a) | 331,280 | 20,542,673 | ||
Open Lending Corp., “A” (a) | 866,099 | 32,019,680 | ||
Pagerduty, Inc. (a) | 681,655 | 29,174,834 | ||
Paycor HCM, Inc. (a) | 1,042,874 | 38,534,194 | ||
Paylocity Holding Corp. (a) | 124,909 | 33,625,503 | ||
Ping Identity Holding Corp. (a) | 963,503 | 25,002,903 | ||
Procore Technologies, Inc. (a) | 183,245 | 16,620,321 | ||
VERTEX, Inc. (a) | 1,447,342 | 29,959,979 | ||
Zendesk, Inc. (a) | 107,548 | 13,292,933 | ||
$383,354,485 | ||||
Computer Software - Systems – 3.9% | ||||
Q2 Holdings, Inc. (a) | 601,187 | $ 52,958,563 | ||
Rapid7, Inc. (a) | 645,462 | 78,436,542 | ||
$131,395,105 | ||||
Construction – 3.0% | ||||
AZEK Co. LLC (a) | 1,216,742 | $ 51,699,368 | ||
Latch, Inc. (a)(l) | 2,195,657 | 27,248,103 | ||
Trex Co., Inc. (a) | 184,982 | 20,303,624 | ||
$99,251,095 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Consumer Services – 2.7% | ||||
Boyd Group Services, Inc. | 101,496 | $ 19,813,300 | ||
Bright Horizons Family Solutions, Inc. (a) | 128,518 | 18,732,783 | ||
European Wax Center, Inc., “A” (a) | 1,061,563 | 25,849,059 | ||
F45 Training Holdings, Inc. (a) | 1,912,896 | 25,938,870 | ||
$90,334,012 | ||||
Electrical Equipment – 3.2% | ||||
Advanced Drainage Systems, Inc. | 169,736 | $ 19,375,364 | ||
Generac Holdings, Inc. (a) | 53,114 | 23,209,756 | ||
Littlefuse, Inc. | 70,421 | 20,098,153 | ||
Sensata Technologies Holding PLC (a) | 774,321 | 45,824,317 | ||
$108,507,590 | ||||
Electronics – 1.8% | ||||
Advanced Energy Industries, Inc. | 512,531 | $ 46,220,046 | ||
Silicon Laboratories, Inc. (a) | 81,695 | 12,876,766 | ||
$59,096,812 | ||||
Entertainment – 0.9% | ||||
Manchester United PLC, “A” | 1,836,015 | $ 31,652,899 | ||
Food & Beverages – 1.6% | ||||
Duckhorn Portfolio, Inc. (a) | 843,442 | $ 18,125,569 | ||
Laird Superfood, Inc. (a) | 172,873 | 3,445,359 | ||
Oatly Group AB, ADR (a) | 1,729,796 | 31,516,883 | ||
$53,087,811 | ||||
Gaming & Lodging – 2.0% | ||||
Genius Sports Ltd. (SPAC) (a) | 1,990,546 | $ 40,826,098 | ||
Penn National Gaming, Inc. (a) | 327,198 | 26,535,758 | ||
$67,361,856 | ||||
Insurance – 0.3% | ||||
Metromile, Inc. (a)(l) | 2,459,541 | $ 9,838,164 | ||
Leisure & Toys – 1.4% | ||||
Malibu Boats, Inc., “A” (a) | 546,379 | $ 39,120,737 | ||
Thule Group AB | 142,784 | 7,793,227 | ||
$46,913,964 | ||||
Machinery & Tools – 1.6% | ||||
Ritchie Bros. Auctioneers, Inc. | 843,689 | $ 52,806,495 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Medical & Health Technology & Services – 8.0% | ||||
Certara, Inc. (a) | 1,495,555 | $ 50,205,781 | ||
Charles River Laboratories International, Inc. (a) | 60,431 | 26,822,904 | ||
Guardant Health, Inc. (a) | 98,282 | 12,508,350 | ||
Health Catalyst, Inc. (a) | 234,097 | 12,784,037 | ||
HealthEquity, Inc. (a) | 407,564 | 26,153,382 | ||
ICON PLC (a) | 170,470 | 43,601,112 | ||
LifeStance Health Group, Inc. (a) | 1,647,345 | 24,479,547 | ||
Syneos Health, Inc. (a) | 525,973 | 48,799,775 | ||
Talkspace, Inc. (a) | 4,600,242 | 24,151,270 | ||
$269,506,158 | ||||
Medical Equipment – 4.4% | ||||
Acutus Medical, Inc. (a) | 855,825 | $ 10,946,002 | ||
Gerresheimer AG | 373,531 | 39,672,169 | ||
Maravai Lifesciences Holdings, Inc., “A” (a) | 556,683 | 32,944,500 | ||
Nevro Corp. (a) | 173,417 | 21,156,874 | ||
OptiNose, Inc. (a)(l) | 1,169,386 | 3,402,913 | ||
Outset Medical, Inc. (a) | 319,520 | 15,749,141 | ||
PerkinElmer, Inc. | 70,549 | 13,037,455 | ||
Silk Road Medical, Inc. (a) | 187,403 | 11,109,250 | ||
$148,018,304 | ||||
Network & Telecom – 1.5% | ||||
CoreSite Realty Corp., REIT | 346,347 | $ 51,387,504 | ||
Other Banks & Diversified Financials – 1.1% | ||||
Bank OZK | 396,448 | $ 16,821,289 | ||
Prosperity Bancshares, Inc. | 309,180 | 21,605,498 | ||
$38,426,787 | ||||
Pharmaceuticals – 2.0% | ||||
Annexon, Inc. (a) | 487,334 | $ 7,967,911 | ||
Collegium Pharmaceutical, Inc. (a) | 511,358 | 10,498,180 | ||
Harmony Biosciences Holdings (a) | 453,025 | 15,353,017 | ||
SpringWorks Therapeutics, Inc. (a) | 260,790 | 19,585,329 | ||
Turning Point Therapeutics, Inc. (a) | 192,279 | 14,809,328 | ||
$68,213,765 | ||||
Pollution Control – 0.9% | ||||
GFL Environmental, Inc. | 816,890 | $ 28,746,359 | ||
Railroad & Shipping – 0.1% | ||||
StealthGas, Inc. (a) | 1,033,327 | $ 2,810,649 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Real Estate – 3.7% | ||||
Big Yellow Group PLC, REIT | 1,284,237 | $ 26,925,909 | ||
Industrial Logistics Properties Trust, REIT | 611,179 | 16,764,640 | ||
Innovative Industrial Properties, Inc., REIT | 129,722 | 31,899,937 | ||
STAG Industrial, Inc., REIT | 1,128,179 | 47,665,563 | ||
$123,256,049 | ||||
Specialty Chemicals – 2.1% | ||||
Axalta Coating Systems Ltd. (a) | 1,393,666 | $ 42,562,560 | ||
Rogers Corp. (a) | 135,284 | 28,735,674 | ||
$71,298,234 | ||||
Specialty Stores – 4.9% | ||||
ACV Auctions, Inc. | 2,081,056 | $ 42,474,353 | ||
Leslie's, Inc. (a) | 2,004,345 | 48,344,802 | ||
Petco Health & Wellness Co., Inc. (a) | 1,173,423 | 25,263,797 | ||
ThredUp, Inc. (a)(h) | 1,250,636 | 23,974,692 | ||
Vroom, Inc. (a) | 923,165 | 24,796,212 | ||
$164,853,856 | ||||
Trucking – 2.9% | ||||
CryoPort, Inc. (a) | 619,327 | $ 39,370,617 | ||
Knight-Swift Transportation Holdings, Inc. | 706,304 | 36,678,367 | ||
Schneider National, Inc. | 973,214 | 21,936,244 | ||
$97,985,228 | ||||
Utilities - Electric Power – 2.3% | ||||
Array Technologies, Inc. (a) | 1,883,937 | $ 35,926,679 | ||
Shoals Technologies Group, Inc. (a) | 1,312,585 | 42,750,893 | ||
$78,677,572 | ||||
Total Common Stocks (Identified Cost, $2,479,892,405) | $3,241,388,432 | |||
Investment Companies (h) – 3.7% | ||||
Money Market Funds – 3.7% | ||||
MFS Institutional Money Market Portfolio, 0.04% (v) (Identified Cost, $122,908,348) | 122,912,898 | $ 122,912,898 | ||
Collateral for Securities Loaned – 0.4% | ||||
State Street Navigator Securities Lending Government Money Market Portfolio, 0.03% (j) (Identified Cost, $12,056,294) | 12,056,294 | $ 12,056,294 | ||
Other Assets, Less Liabilities – (0.5)% | (15,289,428) | |||
Net Assets – 100.0% | $3,361,068,196 |
(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 $146,887,590 and $3,229,470,034, 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 |
PIPE | Private Investment in Public Equity |
REIT | Real Estate Investment Trust |
SPAC | Special Purpose Acquisition Company |
Assets | |
Investments in unaffiliated issuers, at value, including $13,255,455 of securities on loan (identified cost, $2,470,097,488) | $3,229,470,034 |
Investments in affiliated issuers, at value (identified cost, $144,759,559) | 146,887,590 |
Cash | 854 |
Receivables for | |
Investments sold | 37,915,137 |
Fund shares sold | 7,817,944 |
Interest and dividends | 786,357 |
Other assets | 1,748 |
Total assets | $3,422,879,664 |
Liabilities | |
Payables for | |
Investments purchased | $46,423,334 |
Fund shares reacquired | 2,391,882 |
Collateral for securities loaned, at value (c) | 12,056,294 |
Payable to affiliates | |
Investment adviser | 179,369 |
Administrative services fee | 2,451 |
Shareholder servicing costs | 430,001 |
Distribution and service fees | 23,713 |
Payable for independent Trustees' compensation | 55 |
Accrued expenses and other liabilities | 304,369 |
Total liabilities | $61,811,468 |
Net assets | $3,361,068,196 |
Net assets consist of | |
Paid-in capital | $2,105,781,384 |
Total distributable earnings (loss) | 1,255,286,812 |
Net assets | $3,361,068,196 |
Shares of beneficial interest outstanding | 76,758,693 |
(c) | Non-cash collateral is not included. |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $1,171,165,905 | 28,894,147 | $40.53 |
Class B | 16,700,787 | 598,160 | 27.92 |
Class C | 56,833,117 | 2,028,380 | 28.02 |
Class I | 621,379,109 | 13,107,741 | 47.41 |
Class R1 | 5,922,907 | 214,930 | 27.56 |
Class R2 | 34,687,618 | 949,180 | 36.54 |
Class R3 | 178,004,826 | 4,400,230 | 40.45 |
Class R4 | 27,862,976 | 631,624 | 44.11 |
Class R6 | 1,248,510,951 | 25,934,301 | 48.14 |
(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 $43.00 [100 / 94.25 x $40.53]. 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 | $15,834,813 |
Income on securities loaned | 596,758 |
Other | 319,918 |
Dividends from affiliated issuers | 66,330 |
Foreign taxes withheld | (353,510) |
Total investment income | $16,464,309 |
Expenses | |
Management fee | $22,955,494 |
Distribution and service fees | 3,780,948 |
Shareholder servicing costs | 2,067,646 |
Administrative services fee | 362,287 |
Independent Trustees' compensation | 39,109 |
Custodian fee | 159,532 |
Shareholder communications | 198,134 |
Audit and tax fees | 61,345 |
Legal fees | 16,988 |
Miscellaneous | 332,414 |
Total expenses | $29,973,897 |
Reduction of expenses by investment adviser and distributor | (329,164) |
Net expenses | $29,644,733 |
Net investment income (loss) | $(13,180,424) |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $684,264,249 |
Affiliated issuers | 485,468 |
Foreign currency | 14,468 |
Net realized gain (loss) | $684,764,185 |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers | $198,440,172 |
Affiliated issuers | 2,123,481 |
Translation of assets and liabilities in foreign currencies | (4,537) |
Net unrealized gain (loss) | $200,559,116 |
Net realized and unrealized gain (loss) | $885,323,301 |
Change in net assets from operations | $872,142,877 |
Year ended | ||
8/31/21 | 8/31/20 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $(13,180,424) | $(8,702,343) |
Net realized gain (loss) | 684,764,185 | 131,368,209 |
Net unrealized gain (loss) | 200,559,116 | 321,853,771 |
Change in net assets from operations | $872,142,877 | $444,519,637 |
Total distributions to shareholders | $(245,280,652) | $(114,138,919) |
Change in net assets from fund share transactions | $654,561,520 | $317,806,445 |
Total change in net assets | $1,281,423,745 | $648,187,163 |
Net assets | ||
At beginning of period | 2,079,644,451 | 1,431,457,288 |
At end of period | $3,361,068,196 | $2,079,644,451 |
Class A | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $32.45 | $27.56 | $33.30 | $27.27 | $24.11 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.23) | $(0.18) | $(0.19) | $(0.23) | $(0.18)(c) |
Net realized and unrealized gain (loss) | 12.20 | 7.31 | 0.06(g) | 9.07 | 3.92 |
Total from investment operations | $11.97 | $7.13 | $(0.13) | $8.84 | $3.74 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.89) | $(2.24) | $(5.61) | $(2.81) | $(0.58) |
Net asset value, end of period (x) | $40.53 | $32.45 | $27.56 | $33.30 | $27.27 |
Total return (%) (r)(s)(t)(x) | 39.23 | 27.51 | 3.49 | 34.98 | 15.83(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.23 | 1.29 | 1.30 | 1.33 | 1.35(c) |
Expenses after expense reductions (f) | 1.22 | 1.27 | 1.29 | 1.31 | 1.33(c) |
Net investment income (loss) | (0.63) | (0.66) | (0.70) | (0.80) | (0.70)(c) |
Portfolio turnover | 71 | 64 | 69 | 67 | 53 |
Net assets at end of period (000 omitted) | $1,171,166 | $755,202 | $549,660 | $525,698 | $394,878 |
Class B | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $23.55 | $20.72 | $26.86 | $22.65 | $20.27 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.36) | $(0.28) | $(0.30) | $(0.37) | $(0.30)(c) |
Net realized and unrealized gain (loss) | 8.62 | 5.35 | (0.23)(g) | 7.39 | 3.26 |
Total from investment operations | $8.26 | $5.07 | $(0.53) | $7.02 | $2.96 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.89) | $(2.24) | $(5.61) | $(2.81) | $(0.58) |
Net asset value, end of period (x) | $27.92 | $23.55 | $20.72 | $26.86 | $22.65 |
Total return (%) (r)(s)(t)(x) | 38.19 | 26.58 | 2.69 | 34.00 | 14.97(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.99 | 2.04 | 2.06 | 2.08 | 2.10(c) |
Expenses after expense reductions (f) | 1.98 | 2.02 | 2.04 | 2.06 | 2.08(c) |
Net investment income (loss) | (1.40) | (1.40) | (1.45) | (1.55) | (1.45)(c) |
Portfolio turnover | 71 | 64 | 69 | 67 | 53 |
Net assets at end of period (000 omitted) | $16,701 | $16,502 | $18,708 | $23,424 | $20,143 |
Class C | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $23.62 | $20.78 | $26.91 | $22.70 | $20.31 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.36) | $(0.28) | $(0.30) | $(0.37) | $(0.31)(c) |
Net realized and unrealized gain (loss) | 8.65 | 5.36 | (0.22)(g) | 7.39 | 3.28 |
Total from investment operations | $8.29 | $5.08 | $(0.52) | $7.02 | $2.97 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.89) | $(2.24) | $(5.61) | $(2.81) | $(0.58) |
Net asset value, end of period (x) | $28.02 | $23.62 | $20.78 | $26.91 | $22.70 |
Total return (%) (r)(s)(t)(x) | 38.21 | 26.55 | 2.72 | 33.92 | 14.99(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.99 | 2.04 | 2.05 | 2.08 | 2.10(c) |
Expenses after expense reductions (f) | 1.98 | 2.03 | 2.04 | 2.07 | 2.09(c) |
Net investment income (loss) | (1.40) | (1.41) | (1.45) | (1.55) | (1.45)(c) |
Portfolio turnover | 71 | 64 | 69 | 67 | 53 |
Net assets at end of period (000 omitted) | $56,833 | $58,057 | $59,253 | $69,498 | $76,724 |
Class I | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $37.30 | $31.29 | $36.82 | $29.81 | $26.24 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.16) | $(0.14) | $(0.14) | $(0.18) | $(0.12)(c) |
Net realized and unrealized gain (loss) | 14.16 | 8.39 | 0.22(g) | 10.00 | 4.27 |
Total from investment operations | $14.00 | $8.25 | $0.08 | $9.82 | $4.15 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.89) | $(2.24) | $(5.61) | $(2.81) | $(0.58) |
Net asset value, end of period (x) | $47.41 | $37.30 | $31.29 | $36.82 | $29.81 |
Total return (%) (r)(s)(t)(x) | 39.60 | 27.83 | 3.76 | 35.31 | 16.12(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.98 | 1.04 | 1.05 | 1.08 | 1.10(c) |
Expenses after expense reductions (f) | 0.97 | 1.03 | 1.05 | 1.07 | 1.09(c) |
Net investment income (loss) | (0.37) | (0.43) | (0.45) | (0.55) | (0.45)(c) |
Portfolio turnover | 71 | 64 | 69 | 67 | 53 |
Net assets at end of period (000 omitted) | $621,379 | $331,177 | $164,593 | $180,591 | $106,459 |
Class R1 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $23.29 | $20.51 | $26.66 | $22.50 | $20.15 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.35) | $(0.28) | $(0.30) | $(0.37) | $(0.30)(c) |
Net realized and unrealized gain (loss) | 8.51 | 5.30 | (0.24)(g) | 7.34 | 3.23 |
Total from investment operations | $8.16 | $5.02 | $(0.54) | $6.97 | $2.93 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.89) | $(2.24) | $(5.61) | $(2.81) | $(0.58) |
Net asset value, end of period (x) | $27.56 | $23.29 | $20.51 | $26.66 | $22.50 |
Total return (%) (r)(s)(t)(x) | 38.20 | 26.61 | 2.67 | 34.01 | 14.91(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.99 | 2.04 | 2.05 | 2.08 | 2.10(c) |
Expenses after expense reductions (f) | 1.97 | 2.03 | 2.05 | 2.07 | 2.09(c) |
Net investment income (loss) | (1.39) | (1.41) | (1.45) | (1.55) | (1.45)(c) |
Portfolio turnover | 71 | 64 | 69 | 67 | 53 |
Net assets at end of period (000 omitted) | $5,923 | $4,946 | $4,652 | $5,342 | $4,377 |
Class R2 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $29.65 | $25.42 | $31.31 | $25.85 | $22.95 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.30) | $(0.23) | $(0.24) | $(0.29) | $(0.23)(c) |
Net realized and unrealized gain (loss) | 11.08 | 6.70 | (0.04)(g) | 8.56 | 3.71 |
Total from investment operations | $10.78 | $6.47 | $(0.28) | $8.27 | $3.48 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.89) | $(2.24) | $(5.61) | $(2.81) | $(0.58) |
Net asset value, end of period (x) | $36.54 | $29.65 | $25.42 | $31.31 | $25.85 |
Total return (%) (r)(s)(t)(x) | 38.89 | 27.21 | 3.19 | 34.68 | 15.50(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.49 | 1.54 | 1.56 | 1.58 | 1.60(c) |
Expenses after expense reductions (f) | 1.47 | 1.53 | 1.54 | 1.57 | 1.59(c) |
Net investment income (loss) | (0.89) | (0.90) | (0.95) | (1.05) | (0.95)(c) |
Portfolio turnover | 71 | 64 | 69 | 67 | 53 |
Net assets at end of period (000 omitted) | $34,688 | $30,149 | $32,381 | $36,272 | $29,130 |
Class R3 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $32.39 | $27.51 | $33.26 | $27.24 | $24.09 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.22) | $(0.18) | $(0.19) | $(0.24) | $(0.17)(c) |
Net realized and unrealized gain (loss) | 12.17 | 7.30 | 0.05(g) | 9.07 | 3.90 |
Total from investment operations | $11.95 | $7.12 | $(0.14) | $8.83 | $3.73 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.89) | $(2.24) | $(5.61) | $(2.81) | $(0.58) |
Net asset value, end of period (x) | $40.45 | $32.39 | $27.51 | $33.26 | $27.24 |
Total return (%) (r)(s)(t)(x) | 39.24 | 27.52 | 3.45 | 34.98 | 15.81(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.23 | 1.29 | 1.30 | 1.33 | 1.35(c) |
Expenses after expense reductions (f) | 1.22 | 1.28 | 1.30 | 1.32 | 1.34(c) |
Net investment income (loss) | (0.61) | (0.67) | (0.70) | (0.80) | (0.70)(c) |
Portfolio turnover | 71 | 64 | 69 | 67 | 53 |
Net assets at end of period (000 omitted) | $178,005 | $71,489 | $52,559 | $50,895 | $42,346 |
Class R4 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $34.94 | $29.44 | $35.05 | $28.48 | $25.09 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.15) | $(0.13) | $(0.13) | $(0.15) | $(0.12)(c) |
Net realized and unrealized gain (loss) | 13.21 | 7.87 | 0.13(g) | 9.53 | 4.09 |
Total from investment operations | $13.06 | $7.74 | $0.00(w) | $9.38 | $3.97 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.89) | $(2.24) | $(5.61) | $(2.81) | $(0.58) |
Net asset value, end of period (x) | $44.11 | $34.94 | $29.44 | $35.05 | $28.48 |
Total return (%) (r)(s)(t)(x) | 39.58 | 27.84 | 3.72 | 35.42 | 16.14(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.99 | 1.04 | 1.05 | 1.08 | 1.10(c) |
Expenses after expense reductions (f) | 0.97 | 1.03 | 1.05 | 1.07 | 1.09(c) |
Net investment income (loss) | (0.37) | (0.43) | (0.45) | (0.51) | (0.45)(c) |
Portfolio turnover | 71 | 64 | 69 | 67 | 53 |
Net assets at end of period (000 omitted) | $27,863 | $16,509 | $8,384 | $10,612 | $83,186 |
Class R6 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $37.79 | $31.64 | $37.13 | $30.01 | $26.38 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.12) | $(0.10) | $(0.11) | $(0.14) | $(0.09)(c) |
Net realized and unrealized gain (loss) | 14.36 | 8.49 | 0.23(g) | 10.07 | 4.30 |
Total from investment operations | $14.24 | $8.39 | $0.12 | $9.93 | $4.21 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.89) | $(2.24) | $(5.61) | $(2.81) | $(0.58) |
Net asset value, end of period (x) | $48.14 | $37.79 | $31.64 | $37.13 | $30.01 |
Total return (%) (r)(s)(t)(x) | 39.73 | 27.97 | 3.85 | 35.45 | 16.26(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.89 | 0.94 | 0.96 | 0.97 | 0.98(c) |
Expenses after expense reductions (f) | 0.88 | 0.92 | 0.95 | 0.96 | 0.97(c) |
Net investment income (loss) | (0.28) | (0.32) | (0.35) | (0.44) | (0.34)(c) |
Portfolio turnover | 71 | 64 | 69 | 67 | 53 |
Net assets at end of period (000 omitted) | $1,248,511 | $795,613 | $541,266 | $477,818 | $385,440 |
(c) | Amount reflects a one-time reimbursement of expenses by the custodian (or former custodian) without which net investment income and performance would be lower and expenses would be higher. |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. |
(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. |
(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 | $2,652,696,313 | $14,039,300 | $— | $2,666,735,613 |
United Kingdom | 219,836,781 | — | — | 219,836,781 |
Canada | 168,226,574 | — | — | 168,226,574 |
Ireland | 43,601,112 | — | — | 43,601,112 |
India | 41,615,560 | — | — | 41,615,560 |
Philippines | 40,646,986 | — | — | 40,646,986 |
Germany | 39,672,169 | — | — | 39,672,169 |
Sweden | 18,242,988 | — | — | 18,242,988 |
Greece | 2,810,649 | — | — | 2,810,649 |
Mutual Funds | 134,969,192 | — | — | 134,969,192 |
Total | $3,362,318,324 | $14,039,300 | $— | $3,376,357,624 |
Equity Securities | |
Balance as of 8/31/20 | $11,970,842 |
Change in unrealized appreciation or depreciation | 2,068,458 |
Transfers out of level 3 | (14,039,300) |
Balance as of 8/31/21 | $— |
Year ended 8/31/21 | Year ended 8/31/20 | |
Ordinary income (including any short-term capital gains) | $102,280,212 | $38,500,065 |
Long-term capital gains | 143,000,440 | 75,638,854 |
Total distributions | $245,280,652 | $114,138,919 |
As of 8/31/21 | |
Cost of investments | $2,624,221,219 |
Gross appreciation | 890,466,745 |
Gross depreciation | (138,330,340) |
Net unrealized appreciation (depreciation) | $ 752,136,405 |
Undistributed ordinary income | 241,781,136 |
Undistributed long-term capital gain | 261,359,755 |
Other temporary differences | 9,516 |
Total distributable earnings (loss) | $1,255,286,812 |
Year ended 8/31/21 | Year ended 8/31/20 | ||
Class A | $92,576,529 | $45,480,404 | |
Class B | 2,578,960 | 1,857,992 | |
Class C | 9,212,244 | 5,934,396 | |
Class I | 37,222,351 | 12,867,161 | |
Class R1 | 726,956 | 463,207 | |
Class R2 | 3,705,529 | 2,558,233 | |
Class R3 | 11,238,415 | 4,552,802 | |
Class R4 | 2,003,239 | 737,611 | |
Class R6 | 86,016,429 | 39,687,113 | |
Total | $245,280,652 | $114,138,919 |
Up to $1 billion | 0.90% |
In excess of $1 billion and up to $2.5 billion | 0.80% |
In excess of $2.5 billion and up to $5 billion | 0.75% |
In excess of $5 billion | 0.70% |
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% | $ 2,458,136 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 173,801 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 584,639 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 54,397 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 165,636 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 344,339 |
Total Distribution and Service Fees | $3,780,948 |
(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 year ended August 31, 2021 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 |
Amount | |
Class A | $17,327 |
Class B | 7,127 |
Class C | 4,707 |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 7,106,115 | $261,808,137 | 6,608,833 | $180,870,690 | |
Class B | 32,268 | 829,093 | 15,794 | 323,361 | |
Class C | 433,146 | 11,169,435 | 602,585 | 12,002,849 | |
Class I | 6,149,518 | 265,117,227 | 6,561,643 | 205,619,621 | |
Class R1 | 37,214 | 935,098 | 39,779 | 798,139 | |
Class R2 | 276,164 | 9,252,364 | 254,722 | 6,382,302 | |
Class R3 | 2,991,128 | 107,921,783 | 944,202 | 25,980,926 | |
Class R4 | 351,621 | 13,821,861 | 353,555 | 10,570,840 | |
Class R6 | 8,815,568 | 383,830,450 | 7,791,109 | 235,058,472 | |
26,192,742 | $1,054,685,448 | 23,172,222 | $677,607,200 | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 2,657,076 | $90,181,174 | 1,649,802 | $44,577,654 | |
Class B | 107,147 | 2,519,035 | 91,737 | 1,809,047 | |
Class C | 382,598 | 9,025,492 | 262,614 | 5,194,497 | |
Class I | 847,170 | 33,564,887 | 370,322 | 11,483,689 | |
Class R1 | 31,334 | 726,956 | 23,754 | 463,207 | |
Class R2 | 118,275 | 3,626,302 | 96,986 | 2,399,424 | |
Class R3 | 331,810 | 11,238,415 | 168,747 | 4,552,802 | |
Class R4 | 52,565 | 1,938,081 | 25,391 | 737,611 | |
Class R6 | 2,042,242 | 82,118,540 | 1,195,889 | 37,538,966 | |
6,570,217 | $234,938,882 | 3,885,242 | $108,756,897 |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Shares reacquired | |||||
Class A | (4,140,746) | $(151,599,181) | (4,932,374) | $(133,082,279) | |
Class B | (241,968) | (6,228,496) | (309,654) | (6,133,415) | |
Class C | (1,245,222) | (31,877,029) | (1,259,077) | (25,521,156) | |
Class I | (2,767,511) | (118,446,634) | (3,314,100) | (100,520,470) | |
Class R1 | (66,023) | (1,650,096) | (77,881) | (1,593,358) | |
Class R2 | (461,956) | (15,379,445) | (608,642) | (15,267,315) | |
Class R3 | (1,129,535) | (41,368,610) | (816,398) | (22,076,452) | |
Class R4 | (245,037) | (9,729,753) | (191,235) | (5,574,222) | |
Class R6 | (5,975,879) | (258,783,566) | (5,041,146) | (158,788,985) | |
(16,273,877) | $(635,062,810) | (16,550,507) | $(468,557,652) | ||
Net change | |||||
Class A | 5,622,445 | $200,390,130 | 3,326,261 | $92,366,065 | |
Class B | (102,553) | (2,880,368) | (202,123) | (4,001,007) | |
Class C | (429,478) | (11,682,102) | (393,878) | (8,323,810) | |
Class I | 4,229,177 | 180,235,480 | 3,617,865 | 116,582,840 | |
Class R1 | 2,525 | 11,958 | (14,348) | (332,012) | |
Class R2 | (67,517) | (2,500,779) | (256,934) | (6,485,589) | |
Class R3 | 2,193,403 | 77,791,588 | 296,551 | 8,457,276 | |
Class R4 | 159,149 | 6,030,189 | 187,711 | 5,734,229 | |
Class R6 | 4,881,931 | 207,165,424 | 3,945,852 | 113,808,453 | |
16,489,082 | $654,561,520 | 10,506,957 | $317,806,445 |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $94,206,717 | $1,039,009,188 | $1,010,303,007 | $— | $— | $122,912,898 |
ThredUp, Inc. | — | 23,816,258 | 2,450,515 | 485,468 | 2,123,481 | 23,974,692 |
$94,206,717 | $1,062,825,446 | $1,012,753,522 | $485,468 | $2,123,481 | $146,887,590 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $66,330 | $— |
ThredUp, Inc. | — | — |
$66,330 | $— |
October 15, 2021
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEES | ||||||||||
Robert J. Manning (k) (age 57) | Trustee | February 2004 | 136 | Massachusetts Financial Services Company, Non-Executive Chairman (since January 2021); Director; Chairman of the Board; Executive Chairman (January 2017-2020); Co-Chief Executive Officer (2015-2016) | N/A | |||||
Michael W. Roberge (k) (age 55) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; President (until December 2018); Chief Investment Officer (until December 2018); Co-Chief Executive Officer (until December 2016) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 66) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 70) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 67) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 66) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 66) | Trustee | January 2019 | 136 | Private investor | N/A |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
James W. Kilman, Jr. (age 60) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016); Morgan Stanley & Co. (financial services), Vice Chairman of Investment Banking, Co-Head of Diversified Financials Coverage – Financial Institutions Investment Banking Group (until 2016) | Alpha-En Corporation, Director (2016-2019) | |||||
Clarence Otis, Jr. (age 65) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 65) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 64) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 47) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Associate General Counsel | ||||
Kino Clark (k) (age 53) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
John W. Clark, Jr. (k) (age 54) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President (since March 2017); Deutsche Bank (financial services), Department Head - Treasurer's Office (until February 2017) | ||||
Thomas H. Connors (k) (age 62) | Assistant Secretary and Assistant Clerk | September 2012 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
David L. DiLorenzo (k) (age 53) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 54) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel (since March 2017); Harris Associates (investment management), General Counsel (until January 2017) | ||||
Brian E. Langenfeld (k) (age 48) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
Amanda S. Mooradian (k) (age 42) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 50) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Kasey L. Phillips (k) (age 50) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 46) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Martin J. Wolin (k) (age 54) | Chief Compliance Officer | July 2015 | 136 | Massachusetts Financial Services Company, Senior Vice President and Chief Compliance Officer |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
James O. Yost (k) (age 61) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. For the period from December 15, 2004 until February 22, 2005, Mr. Manning served as Advisory Trustee. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | State Street Bank and Trust Company 1 Lincoln Street Boston, MA 02111-2900 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Ernst & Young LLP 200 Clarendon Street Boston, MA 02116 |
Portfolio Manager(s) | |
Michael Grossman |
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
International Fund
International Fund
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back cover |
Roche Holding AG | 3.2% |
Nestle S.A. | 3.0% |
Novo Nordisk A.S., “B” | 2.9% |
Schneider Electric SE | 2.7% |
Linde PLC | 2.4% |
LVMH Moet Hennessy Louis Vuitton SE | 2.1% |
Aon PLC | 2.0% |
Daikin Industries Ltd. | 1.7% |
Hitachi Ltd. | 1.7% |
AIA Group Ltd. | 1.6% |
Capital Goods | 24.5% |
Financial Services | 19.8% |
Technology | 13.8% |
Health Care | 12.1% |
Consumer Cyclicals | 10.3% |
Consumer Staples | 8.8% |
Energy | 6.3% |
Telecommunications/Cable Television | 3.2% |
Japan | 19.7% |
Switzerland | 12.7% |
France | 9.9% |
Germany | 9.2% |
United States | 8.8% |
United Kingdom | 8.1% |
Netherlands | 5.1% |
Hong Kong | 4.7% |
China | 3.8% |
Other Countries | 18.0% |
Euro | 31.5% |
Japanese Yen | 19.7% |
Swiss Franc | 12.7% |
British Pound Sterling | 8.8% |
Hong Kong Dollar | 7.8% |
United States Dollar | 7.1% |
Danish Krone | 3.4% |
Australian Dollar | 2.7% |
Canadian Dollar | 2.2% |
Other Currencies | 4.1% |
(k) | The sectors set forth above and the associated portfolio composition are based on MFS’ own custom sector classification methodology. |
(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 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. |
(b) | Security is not a benchmark constituent. |
(h) | Security was not held in the portfolio at period end. |
Share Class | Class Inception Date | 1-yr | 5-yr | 10-yr |
A | 1/02/97 | 24.28% | 11.66% | 7.43% |
B | 1/02/98 | 23.35% | 10.82% | 6.62% |
C | 1/02/98 | 23.34% | 10.81% | 6.62% |
I | 1/02/97 | 24.62% | 11.94% | 7.69% |
R1 | 4/01/05 | 23.39% | 10.83% | 6.62% |
R2 | 10/31/03 | 24.02% | 11.38% | 7.16% |
R3 | 4/01/05 | 24.30% | 11.66% | 7.43% |
R4 | 4/01/05 | 24.58% | 11.92% | 7.69% |
R6 | 5/01/06 | 24.74% | 12.05% | 7.79% |
529A | 7/31/02 | 24.23% | 11.62% | 7.39% |
529B | 7/31/02 | 23.27% | 10.76% | 6.57% |
529C | 7/31/02 | 23.27% | 10.78% | 6.57% |
MSCI EAFE Index (net div) (f) | 26.12% | 9.72% | 7.34% |
A With Initial Sales Charge (5.75%) | 17.13% | 10.35% | 6.79% |
B With CDSC (Declining over six years from 4% to 0%) (v) | 19.35% | 10.55% | 6.62% |
C With CDSC (1% for 12 months) (v) | 22.34% | 10.81% | 6.62% |
529A With Initial Sales Charge (5.75%) | 17.09% | 10.31% | 6.75% |
529B With CDSC (Declining over six years from 4% to 0%) (v) | 19.27% | 10.49% | 6.57% |
529C With CDSC (1% for 12 months) (v) | 22.27% | 10.78% | 6.57% |
(f) | Source: FactSet Research Systems Inc. |
(v) | Assuming redemption at the end of the applicable period. |
(e) | Morgan Stanley Capital International (“MSCI”) makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. |
March 1, 2021 through August 31, 2021
Share Class | Annualized Expense Ratio | Beginning Account Value 3/01/21 | Ending Account Value 8/31/21 | Expenses Paid During Period (p) 3/01/21-8/31/21 | |
A | Actual | 0.98% | $1,000.00 | $1,122.28 | $5.24 |
Hypothetical (h) | 0.98% | $1,000.00 | $1,020.27 | $4.99 | |
B | Actual | 1.73% | $1,000.00 | $1,117.98 | $9.24 |
Hypothetical (h) | 1.73% | $1,000.00 | $1,016.48 | $8.79 | |
C | Actual | 1.73% | $1,000.00 | $1,117.79 | $9.23 |
Hypothetical (h) | 1.73% | $1,000.00 | $1,016.48 | $8.79 | |
I | Actual | 0.73% | $1,000.00 | $1,124.02 | $3.91 |
Hypothetical (h) | 0.73% | $1,000.00 | $1,021.53 | $3.72 | |
R1 | Actual | 1.73% | $1,000.00 | $1,118.49 | $9.24 |
Hypothetical (h) | 1.73% | $1,000.00 | $1,016.48 | $8.79 | |
R2 | Actual | 1.23% | $1,000.00 | $1,121.01 | $6.58 |
Hypothetical (h) | 1.23% | $1,000.00 | $1,019.00 | $6.26 | |
R3 | Actual | 0.98% | $1,000.00 | $1,122.65 | $5.24 |
Hypothetical (h) | 0.98% | $1,000.00 | $1,020.27 | $4.99 | |
R4 | Actual | 0.73% | $1,000.00 | $1,123.36 | $3.91 |
Hypothetical (h) | 0.73% | $1,000.00 | $1,021.53 | $3.72 | |
R6 | Actual | 0.64% | $1,000.00 | $1,123.92 | $3.43 |
Hypothetical (h) | 0.64% | $1,000.00 | $1,021.98 | $3.26 | |
529A | Actual | 1.01% | $1,000.00 | $1,122.05 | $5.40 |
Hypothetical (h) | 1.01% | $1,000.00 | $1,020.11 | $5.14 | |
529B | Actual | 1.78% | $1,000.00 | $1,117.21 | $9.50 |
Hypothetical (h) | 1.78% | $1,000.00 | $1,016.23 | $9.05 | |
529C | Actual | 1.78% | $1,000.00 | $1,117.79 | $9.50 |
Hypothetical (h) | 1.78% | $1,000.00 | $1,016.23 | $9.05 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 98.8% | ||||
Aerospace & Defense – 0.4% | ||||
MTU Aero Engines Holding AG | 321,512 | $ 73,780,205 | ||
Airlines – 0.5% | ||||
Ryanair Holdings PLC, ADR (a) | 727,746 | $ 78,378,244 | ||
Alcoholic Beverages – 1.9% | ||||
Diageo PLC | 5,350,273 | $ 257,012,476 | ||
Kirin Holdings Co. Ltd. | 4,313,600 | 78,183,142 | ||
$335,195,618 | ||||
Apparel Manufacturers – 4.4% | ||||
Adidas AG | 607,048 | $ 215,354,209 | ||
Burberry Group PLC | 1,917,543 | 49,022,636 | ||
Compagnie Financiere Richemont S.A. | 1,145,291 | 126,316,561 | ||
LVMH Moet Hennessy Louis Vuitton SE | 496,973 | 367,806,929 | ||
$758,500,335 | ||||
Automotive – 2.6% | ||||
Bridgestone Corp. | 2,107,000 | $ 96,985,393 | ||
Continental AG (a) | 755,377 | 101,517,394 | ||
Koito Manufacturing Co. Ltd. | 2,189,300 | 133,927,092 | ||
Toyota Industries Corp. | 1,309,100 | 110,544,371 | ||
$442,974,250 | ||||
Brokerage & Asset Managers – 1.9% | ||||
Euronext N.V. | 1,764,326 | $ 204,677,224 | ||
Hong Kong Exchanges & Clearing Ltd. | 2,037,400 | 128,571,179 | ||
$333,248,403 | ||||
Business Services – 0.8% | ||||
Nomura Research Institute Ltd. | 3,797,600 | $ 142,735,772 | ||
Computer Software – 2.9% | ||||
Cadence Design Systems, Inc. (a) | 647,239 | $ 105,810,632 | ||
NAVER Corp. | 340,504 | 128,924,280 | ||
NetEase.com, Inc., ADR | 2,767,965 | 269,655,150 | ||
$504,390,062 | ||||
Computer Software - Systems – 6.1% | ||||
Amadeus IT Group S.A. (a) | 1,849,785 | $ 112,963,436 | ||
Constellation Software, Inc. | 92,710 | 157,120,909 | ||
EPAM Systems, Inc. (a) | 247,156 | 156,402,788 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Computer Software - Systems – continued | ||||
Fujitsu Ltd. | 1,199,500 | $ 221,332,091 | ||
Hitachi Ltd. | 5,260,700 | 290,972,681 | ||
Samsung Electronics Co. Ltd. | 1,724,763 | 114,096,617 | ||
$1,052,888,522 | ||||
Construction – 1.4% | ||||
Techtronic Industries Co. Ltd. | 10,514,000 | $ 233,195,327 | ||
Consumer Products – 1.7% | ||||
Kao Corp. | 1,993,900 | $ 120,451,388 | ||
Reckitt Benckiser Group PLC | 2,303,835 | 175,443,830 | ||
$295,895,218 | ||||
Consumer Services – 0.9% | ||||
Carsales.com Ltd. | 2,670,740 | $ 49,039,859 | ||
Persol Holdings Co. Ltd. | 2,406,900 | 56,270,025 | ||
SEEK Ltd. | 2,250,148 | 53,563,939 | ||
$158,873,823 | ||||
Containers – 0.7% | ||||
Brambles Ltd. | 13,883,847 | $ 122,997,940 | ||
Electrical Equipment – 3.9% | ||||
Legrand S.A. | 1,840,079 | $ 210,575,576 | ||
Schneider Electric SE | 2,564,028 | 458,057,307 | ||
$668,632,883 | ||||
Electronics – 2.4% | ||||
Kyocera Corp. | 1,630,800 | $ 101,481,224 | ||
NXP Semiconductors N.V. | 754,688 | 162,356,029 | ||
Taiwan Semiconductor Manufacturing Co. Ltd. | 6,529,326 | 144,658,963 | ||
$408,496,216 | ||||
Energy - Independent – 0.4% | ||||
Oil Search Ltd. | 23,373,459 | $ 63,949,693 | ||
Energy - Integrated – 2.0% | ||||
Cairn Energy PLC | 22,829,565 | $ 60,357,645 | ||
Eni S.p.A. | 7,933,429 | 97,926,799 | ||
Galp Energia SGPS S.A., “B” | 10,823,128 | 110,848,632 | ||
Idemitsu Kosan Co. Ltd. | 3,449,700 | 82,718,798 | ||
$351,851,874 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Food & Beverages – 3.8% | ||||
Danone S.A. | 1,816,780 | $ 132,721,286 | ||
Nestle S.A. | 4,060,004 | 513,136,623 | ||
$645,857,909 | ||||
Food & Drug Stores – 0.4% | ||||
Sugi Holdings Co. Ltd. (l) | 770,500 | $ 59,530,519 | ||
Gaming & Lodging – 0.7% | ||||
Flutter Entertainment PLC (a) | 621,613 | $ 120,630,279 | ||
Insurance – 5.1% | ||||
AIA Group Ltd. | 23,144,600 | $ 276,606,159 | ||
Aon PLC | 1,230,349 | 352,937,914 | ||
Beazley PLC (a) | 4,568,019 | 24,587,537 | ||
Hiscox Ltd. | 5,110,047 | 64,550,743 | ||
Zurich Insurance Group AG | 366,832 | 161,033,540 | ||
$879,715,893 | ||||
Internet – 1.6% | ||||
Scout24 AG | 1,139,672 | $ 95,811,579 | ||
Tencent Holdings Ltd. | 2,934,300 | 181,548,600 | ||
$277,360,179 | ||||
Leisure & Toys – 1.0% | ||||
Prosus N.V. (a) | 1,037,739 | $ 91,775,779 | ||
Yamaha Corp. | 1,266,900 | 74,736,909 | ||
$166,512,688 | ||||
Machinery & Tools – 6.6% | ||||
Daikin Industries Ltd. | 1,184,900 | $ 295,161,428 | ||
GEA Group AG | 3,202,237 | 147,876,585 | ||
Kubota Corp. | 9,498,900 | 196,384,566 | ||
Ritchie Bros. Auctioneers, Inc. | 2,263,411 | 141,816,383 | ||
Schindler Holding AG | 524,548 | 169,436,307 | ||
SMC Corp. | 301,900 | 193,491,515 | ||
$1,144,166,784 | ||||
Major Banks – 5.1% | ||||
BNP Paribas | 4,148,389 | $ 263,180,943 | ||
Credit Suisse Group AG | 11,935,590 | 126,609,141 | ||
Mitsubishi UFJ Financial Group, Inc. | 26,223,400 | 141,682,398 | ||
NatWest Group PLC | 54,910,709 | 160,877,706 | ||
UBS Group AG | 11,505,024 | 191,970,261 | ||
$884,320,449 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Medical Equipment – 3.4% | ||||
EssilorLuxottica | 393,674 | $ 77,282,762 | ||
Koninklijke Philips N.V. | 4,431,823 | 204,291,520 | ||
QIAGEN N.V. (a) | 3,409,697 | 188,698,681 | ||
Terumo Corp. | 2,808,200 | 117,341,230 | ||
$587,614,193 | ||||
Metals & Mining – 0.7% | ||||
Glencore PLC | 28,455,128 | $ 128,083,911 | ||
Natural Gas - Distribution – 0.5% | ||||
China Resources Gas Group Ltd. | 14,610,000 | $ 88,665,565 | ||
Natural Gas - Pipeline – 0.8% | ||||
APA Group | 7,716,210 | $ 51,819,187 | ||
TC Energy Corp. | 1,817,656 | 86,297,780 | ||
$138,116,967 | ||||
Other Banks & Diversified Financials – 4.9% | ||||
AIB Group PLC (a) | 24,220,628 | $ 73,069,213 | ||
HDFC Bank Ltd. | 10,540,007 | 228,304,860 | ||
ING Groep N.V. | 11,014,928 | 152,168,811 | ||
Julius Baer Group Ltd. | 2,120,783 | 144,975,174 | ||
Macquarie Group Ltd. | 1,030,817 | 125,737,623 | ||
Visa, Inc., “A” | 556,077 | 127,397,241 | ||
$851,652,922 | ||||
Pharmaceuticals – 8.7% | ||||
Bayer AG | 1,721,313 | $ 95,819,437 | ||
Kyowa Kirin Co. Ltd. | 5,633,200 | 184,078,117 | ||
Novo Nordisk A.S., “B” | 5,070,329 | 505,326,206 | ||
Roche Holding AG | 1,385,802 | 556,515,081 | ||
Santen Pharmaceutical Co. Ltd. | 11,109,200 | 165,605,490 | ||
$1,507,344,331 | ||||
Printing & Publishing – 1.4% | ||||
Wolters Kluwer N.V. | 2,076,796 | $ 238,891,165 | ||
Real Estate – 2.7% | ||||
ESR Cayman Ltd. (a) | 27,161,000 | $ 82,766,935 | ||
Grand City Properties S.A. | 6,399,651 | 175,459,396 | ||
LEG Immobilien SE | 1,330,727 | 212,119,630 | ||
$470,345,961 | ||||
Restaurants – 0.6% | ||||
Yum China Holdings, Inc. | 1,799,984 | $ 110,807,015 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Specialty Chemicals – 8.2% | ||||
Akzo Nobel N.V. | 1,541,832 | $ 190,062,167 | ||
Croda International PLC | 1,764,760 | 221,956,143 | ||
Kansai Paint Co. Ltd. | 3,312,200 | 85,834,497 | ||
Linde PLC | 1,288,151 | 406,407,162 | ||
Nitto Denko Corp. | 1,755,500 | 133,399,809 | ||
Sika AG | 553,340 | 199,462,227 | ||
Symrise AG | 1,288,802 | 183,523,479 | ||
$1,420,645,484 | ||||
Specialty Stores – 0.5% | ||||
Ocado Group PLC (a) | 1,410,249 | $ 39,029,675 | ||
ZOZO, Inc. | 1,004,800 | 38,314,194 | ||
$77,343,869 | ||||
Telecommunications - Wireless – 2.6% | ||||
Advanced Info Service Public Co. Ltd. | 11,998,900 | $ 69,985,052 | ||
Cellnex Telecom S.A. | 1,648,487 | 112,894,204 | ||
KDDI Corp. | 4,734,100 | 145,015,834 | ||
SoftBank Group Corp. | 2,043,400 | 114,804,849 | ||
$442,699,939 | ||||
Telephone Services – 0.6% | ||||
Hellenic Telecommunications Organization S.A. | 4,014,863 | $ 79,001,288 | ||
Tele2 AB, “B” | 1,527,711 | 22,899,422 | ||
$101,900,710 | ||||
Tobacco – 1.4% | ||||
British American Tobacco PLC | 5,902,467 | $ 221,458,557 | ||
Japan Tobacco, Inc. | 643,200 | 12,467,609 | ||
$233,926,166 | ||||
Utilities - Electric Power – 2.6% | ||||
CLP Holdings Ltd. | 8,681,500 | $ 86,787,652 | ||
E.ON SE | 7,160,751 | 94,510,661 | ||
Iberdrola S.A. | 14,047,937 | 174,081,700 | ||
Orsted A/S (Kingdom of Denmark) | 548,983 | 87,252,228 | ||
$442,632,241 | ||||
Total Common Stocks (Identified Cost, $12,163,319,116) | $17,044,749,524 |
Issuer | Strike Price | First Exercise | Shares/Par | Value ($) |
Warrants – 0.0% | ||||
Apparel Manufacturers – 0.0% | ||||
Compagnie Financiere Richemont S.A. (1 share for 2 warrants, Expiration 12/04/23) (a) (Identified Cost, $0) | CHF 67.00 | 11/20/23 | 2,033,964 | $ 1,043,913 |
Investment Companies (h) – 1.4% | ||||
Money Market Funds – 1.4% | ||||
MFS Institutional Money Market Portfolio, 0.04% (v) (Identified Cost, $241,839,122) | 241,842,376 | $ 241,842,376 | ||
Other Assets, Less Liabilities – (0.2)% | (41,767,770) | |||
Net Assets – 100.0% | $17,245,868,043 |
(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 $241,842,376 and $17,045,793,437, respectively. | |||
(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 |
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: | |
CHF | Swiss Franc |
Assets | |
Investments in unaffiliated issuers, at value, including $6,513,924 of securities on loan (identified cost, $12,163,319,116) | $17,045,793,437 |
Investments in affiliated issuers, at value (identified cost, $241,839,122) | 241,842,376 |
Cash | 74 |
Receivables for | |
Investments sold | 9,276,223 |
Fund shares sold | 8,634,481 |
Interest and dividends | 64,091,383 |
Other assets | 7,778 |
Total assets | $17,369,645,752 |
Liabilities | |
Payables for | |
Investments purchased | $109,644,789 |
Fund shares reacquired | 4,005,797 |
Payable to affiliates | |
Investment adviser | 577,896 |
Administrative services fee | 3,089 |
Shareholder servicing costs | 517,682 |
Distribution and service fees | 18,006 |
Program manager fees | 54 |
Payable for independent Trustees' compensation | 99 |
Deferred country tax expense payable | 7,405,766 |
Accrued expenses and other liabilities | 1,604,531 |
Total liabilities | $123,777,709 |
Net assets | $17,245,868,043 |
Net assets consist of | |
Paid-in capital | $12,346,064,197 |
Total distributable earnings (loss) | 4,899,803,846 |
Net assets | $17,245,868,043 |
Shares of beneficial interest outstanding | 696,509,339 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $963,467,546 | 38,874,951 | $24.78 |
Class B | 2,211,309 | 92,595 | 23.88 |
Class C | 15,663,715 | 673,668 | 23.25 |
Class I | 1,530,130,296 | 59,451,861 | 25.74 |
Class R1 | 3,041,520 | 133,722 | 22.75 |
Class R2 | 104,975,007 | 4,392,929 | 23.90 |
Class R3 | 76,511,500 | 3,119,717 | 24.53 |
Class R4 | 96,498,694 | 3,881,147 | 24.86 |
Class R6 | 14,433,482,154 | 585,061,338 | 24.67 |
Class 529A | 17,630,419 | 726,427 | 24.27 |
Class 529B | 184,532 | 8,099 | 22.78 |
Class 529C | 2,071,351 | 92,885 | 22.30 |
(a) | Maximum offering price per share was equal to the net asset value per share for all share classes, except for Classes A and 529A, for which the maximum offering prices per share were $26.29 [100 / 94.25 x $24.78] and $25.75 [100 / 94.25 x $24.27], respectively. On sales of $50,000 or more, the maximum offering prices of Class A and Class 529A shares are reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, Class C, Class 529B, and Class 529C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, R6, and 529A. |
Net investment income (loss) | |
Income | |
Dividends | $314,539,048 |
Income on securities loaned | 452,073 |
Dividends from affiliated issuers | 101,593 |
Interest | 6,602 |
Other | 2,375 |
Foreign taxes withheld | (29,904,884) |
Total investment income | $285,196,807 |
Expenses | |
Management fee | $93,123,576 |
Distribution and service fees | 3,092,262 |
Shareholder servicing costs | 2,685,026 |
Program manager fees | 8,991 |
Administrative services fee | 552,301 |
Independent Trustees' compensation | 100,458 |
Custodian fee | 1,800,299 |
Shareholder communications | 163,524 |
Audit and tax fees | 161,364 |
Legal fees | 88,167 |
Miscellaneous | 658,086 |
Total expenses | $102,434,054 |
Reduction of expenses by investment adviser and distributor | (1,737,948) |
Net expenses | $100,696,106 |
Net investment income (loss) | $184,500,701 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $91,478,466 |
Foreign currency | (714,107) |
Net realized gain (loss) | $90,764,359 |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers (net of $6,437,538 increase in deferred country tax) | $2,886,038,438 |
Affiliated issuers | (1) |
Translation of assets and liabilities in foreign currencies | (756,621) |
Net unrealized gain (loss) | $2,885,281,816 |
Net realized and unrealized gain (loss) | $2,976,046,175 |
Change in net assets from operations | $3,160,546,876 |
Year ended | ||
8/31/21 | 8/31/20 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $184,500,701 | $132,623,809 |
Net realized gain (loss) | 90,764,359 | 13,406,325 |
Net unrealized gain (loss) | 2,885,281,816 | 1,279,457,767 |
Change in net assets from operations | $3,160,546,876 | $1,425,487,901 |
Total distributions to shareholders | $(135,001,732) | $(195,001,415) |
Change in net assets from fund share transactions | $2,527,692,762 | $1,638,301,261 |
Total change in net assets | $5,553,237,906 | $2,868,787,747 |
Net assets | ||
At beginning of period | 11,692,630,137 | 8,823,842,390 |
At end of period | $17,245,868,043 | $11,692,630,137 |
Class A | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $20.09 | $17.89 | $19.19 | $18.16 | $15.83 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.21 | $0.19 | $0.32 | $0.26 | $0.20(c) |
Net realized and unrealized gain (loss) | 4.64 | 2.33 | (0.77) | 0.97 | 2.39 |
Total from investment operations | $4.85 | $2.52 | $(0.45) | $1.23 | $2.59 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.16) | $(0.32) | $(0.72) | $(0.20) | $(0.26) |
From net realized gain | — | — | (0.13) | — | — |
Total distributions declared to shareholders | $(0.16) | $(0.32) | $(0.85) | $(0.20) | $(0.26) |
Net asset value, end of period (x) | $24.78 | $20.09 | $17.89 | $19.19 | $18.16 |
Total return (%) (r)(s)(t)(x) | 24.28 | 14.19 | (1.82) | 6.79 | 16.66(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.02 | 1.07 | 1.10 | 1.09 | 1.12(c) |
Expenses after expense reductions (f) | 1.00 | 1.06 | 1.09 | 1.08 | 1.10(c) |
Net investment income (loss) | 0.93 | 1.02 | 1.79 | 1.37 | 1.25(c) |
Portfolio turnover | 19 | 22 | 22 | 25 | 33 |
Net assets at end of period (000 omitted) | $963,468 | $772,695 | $622,639 | $686,128 | $693,538 |
Class B | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $19.36 | $17.23 | $18.48 | $17.48 | $15.21 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.04 | $0.04 | $0.16 | $0.10 | $0.10(c) |
Net realized and unrealized gain (loss) | 4.48 | 2.26 | (0.72) | 0.95 | 2.28 |
Total from investment operations | $4.52 | $2.30 | $(0.56) | $1.05 | $2.38 |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.17) | $(0.56) | $(0.05) | $(0.11) |
From net realized gain | — | — | (0.13) | — | — |
Total distributions declared to shareholders | $— | $(0.17) | $(0.69) | $(0.05) | $(0.11) |
Net asset value, end of period (x) | $23.88 | $19.36 | $17.23 | $18.48 | $17.48 |
Total return (%) (r)(s)(t)(x) | 23.35 | 13.38 | (2.63) | 6.01 | 15.77(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.77 | 1.82 | 1.85 | 1.84 | 1.87(c) |
Expenses after expense reductions (f) | 1.76 | 1.81 | 1.84 | 1.82 | 1.85(c) |
Net investment income (loss) | 0.17 | 0.21 | 0.97 | 0.55 | 0.61(c) |
Portfolio turnover | 19 | 22 | 22 | 25 | 33 |
Net assets at end of period (000 omitted) | $2,211 | $2,631 | $3,347 | $4,922 | $6,228 |
Class C | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $18.85 | $16.79 | $17.99 | $17.03 | $14.85 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.03 | $0.04 | $0.17 | $0.08 | $0.10(c) |
Net realized and unrealized gain (loss) | 4.37 | 2.19 | (0.70) | 0.94 | 2.21 |
Total from investment operations | $4.40 | $2.23 | $(0.53) | $1.02 | $2.31 |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.17) | $(0.54) | $(0.06) | $(0.13) |
From net realized gain | — | — | (0.13) | — | — |
Total distributions declared to shareholders | $— | $(0.17) | $(0.67) | $(0.06) | $(0.13) |
Net asset value, end of period (x) | $23.25 | $18.85 | $16.79 | $17.99 | $17.03 |
Total return (%) (r)(s)(t)(x) | 23.34 | 13.36 | (2.56) | 5.97 | 15.74(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.77 | 1.82 | 1.85 | 1.84 | 1.87(c) |
Expenses after expense reductions (f) | 1.75 | 1.81 | 1.84 | 1.83 | 1.85(c) |
Net investment income (loss) | 0.16 | 0.23 | 1.05 | 0.44 | 0.64(c) |
Portfolio turnover | 19 | 22 | 22 | 25 | 33 |
Net assets at end of period (000 omitted) | $15,664 | $17,620 | $22,825 | $27,800 | $48,570 |
Class I | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $20.85 | $18.55 | $19.87 | $18.79 | $16.38 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.28 | $0.24 | $0.37 | $0.26 | $0.30(c) |
Net realized and unrealized gain (loss) | 4.82 | 2.43 | (0.80) | 1.06 | 2.42 |
Total from investment operations | $5.10 | $2.67 | $(0.43) | $1.32 | $2.72 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.21) | $(0.37) | $(0.76) | $(0.24) | $(0.31) |
From net realized gain | — | — | (0.13) | — | — |
Total distributions declared to shareholders | $(0.21) | $(0.37) | $(0.89) | $(0.24) | $(0.31) |
Net asset value, end of period (x) | $25.74 | $20.85 | $18.55 | $19.87 | $18.79 |
Total return (%) (r)(s)(t)(x) | 24.62 | 14.48 | (1.61) | 7.05 | 16.95(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.76 | 0.82 | 0.85 | 0.84 | 0.87(c) |
Expenses after expense reductions (f) | 0.75 | 0.81 | 0.84 | 0.83 | 0.86(c) |
Net investment income (loss) | 1.21 | 1.25 | 2.03 | 1.31 | 1.79(c) |
Portfolio turnover | 19 | 22 | 22 | 25 | 33 |
Net assets at end of period (000 omitted) | $1,530,130 | $898,821 | $593,064 | $658,193 | $1,099,134 |
Class R1 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $18.45 | $16.46 | $17.72 | $16.80 | $14.63 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.05 | $0.03 | $0.15 | $0.11 | $0.09(c) |
Net realized and unrealized gain (loss) | 4.26 | 2.17 | (0.69) | 0.90 | 2.20 |
Total from investment operations | $4.31 | $2.20 | $(0.54) | $1.01 | $2.29 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.01) | $(0.21) | $(0.59) | $(0.09) | $(0.12) |
From net realized gain | — | — | (0.13) | — | — |
Total distributions declared to shareholders | $(0.01) | $(0.21) | $(0.72) | $(0.09) | $(0.12) |
Net asset value, end of period (x) | $22.75 | $18.45 | $16.46 | $17.72 | $16.80 |
Total return (%) (r)(s)(t)(x) | 23.39 | 13.40 | (2.62) | 5.99 | 15.79(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.76 | 1.82 | 1.85 | 1.84 | 1.87(c) |
Expenses after expense reductions (f) | 1.75 | 1.81 | 1.84 | 1.83 | 1.85(c) |
Net investment income (loss) | 0.24 | 0.19 | 0.95 | 0.60 | 0.61(c) |
Portfolio turnover | 19 | 22 | 22 | 25 | 33 |
Net assets at end of period (000 omitted) | $3,042 | $1,628 | $1,751 | $2,153 | $2,089 |
Class R2 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $19.37 | $17.25 | $18.53 | $17.55 | $15.31 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.15 | $0.13 | $0.26 | $0.19 | $0.17(c) |
Net realized and unrealized gain (loss) | 4.49 | 2.26 | (0.75) | 0.95 | 2.30 |
Total from investment operations | $4.64 | $2.39 | $(0.49) | $1.14 | $2.47 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.11) | $(0.27) | $(0.66) | $(0.16) | $(0.23) |
From net realized gain | — | — | (0.13) | — | — |
Total distributions declared to shareholders | $(0.11) | $(0.27) | $(0.79) | $(0.16) | $(0.23) |
Net asset value, end of period (x) | $23.90 | $19.37 | $17.25 | $18.53 | $17.55 |
Total return (%) (r)(s)(t)(x) | 24.02 | 13.95 | (2.14) | 6.49 | 16.37(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.27 | 1.32 | 1.35 | 1.34 | 1.37(c) |
Expenses after expense reductions (f) | 1.25 | 1.31 | 1.34 | 1.33 | 1.35(c) |
Net investment income (loss) | 0.70 | 0.73 | 1.51 | 1.04 | 1.10(c) |
Portfolio turnover | 19 | 22 | 22 | 25 | 33 |
Net assets at end of period (000 omitted) | $104,975 | $89,943 | $98,935 | $121,197 | $132,988 |
Class R3 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $19.88 | $17.70 | $18.99 | $17.98 | $15.67 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.21 | $0.18 | $0.30 | $0.25 | $0.22(c) |
Net realized and unrealized gain (loss) | 4.60 | 2.32 | (0.75) | 0.96 | 2.35 |
Total from investment operations | $4.81 | $2.50 | $(0.45) | $1.21 | $2.57 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.16) | $(0.32) | $(0.71) | $(0.20) | $(0.26) |
From net realized gain | — | — | (0.13) | — | — |
Total distributions declared to shareholders | $(0.16) | $(0.32) | $(0.84) | $(0.20) | $(0.26) |
Net asset value, end of period (x) | $24.53 | $19.88 | $17.70 | $18.99 | $17.98 |
Total return (%) (r)(s)(t)(x) | 24.30 | 14.21 | (1.83) | 6.75 | 16.67(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.02 | 1.07 | 1.10 | 1.09 | 1.12(c) |
Expenses after expense reductions (f) | 1.00 | 1.06 | 1.09 | 1.08 | 1.10(c) |
Net investment income (loss) | 0.96 | 0.99 | 1.73 | 1.31 | 1.37(c) |
Portfolio turnover | 19 | 22 | 22 | 25 | 33 |
Net assets at end of period (000 omitted) | $76,512 | $63,920 | $61,214 | $82,289 | $91,653 |
Class R4 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $20.15 | $17.93 | $19.25 | $18.21 | $15.86 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.29 | $0.23 | $0.36 | $0.30 | $0.28(c) |
Net realized and unrealized gain (loss) | 4.63 | 2.35 | (0.78) | 0.98 | 2.35 |
Total from investment operations | $4.92 | $2.58 | $(0.42) | $1.28 | $2.63 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.21) | $(0.36) | $(0.77) | $(0.24) | $(0.28) |
From net realized gain | — | — | (0.13) | — | — |
Total distributions declared to shareholders | $(0.21) | $(0.36) | $(0.90) | $(0.24) | $(0.28) |
Net asset value, end of period (x) | $24.86 | $20.15 | $17.93 | $19.25 | $18.21 |
Total return (%) (r)(s)(t)(x) | 24.58 | 14.49 | (1.65) | 7.07 | 16.92(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.76 | 0.82 | 0.85 | 0.84 | 0.87(c) |
Expenses after expense reductions (f) | 0.75 | 0.81 | 0.84 | 0.83 | 0.86(c) |
Net investment income (loss) | 1.26 | 1.24 | 2.04 | 1.57 | 1.73(c) |
Portfolio turnover | 19 | 22 | 22 | 25 | 33 |
Net assets at end of period (000 omitted) | $96,499 | $41,619 | $54,352 | $58,578 | $63,884 |
Class R6 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $19.99 | $17.80 | $19.11 | $18.10 | $15.79 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.29 | $0.25 | $0.38 | $0.34 | $0.28(c) |
Net realized and unrealized gain (loss) | 4.62 | 2.33 | (0.77) | 0.95 | 2.36 |
Total from investment operations | $4.91 | $2.58 | $(0.39) | $1.29 | $2.64 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.23) | $(0.39) | $(0.79) | $(0.28) | $(0.33) |
From net realized gain | — | — | (0.13) | — | — |
Total distributions declared to shareholders | $(0.23) | $(0.39) | $(0.92) | $(0.28) | $(0.33) |
Net asset value, end of period (x) | $24.67 | $19.99 | $17.80 | $19.11 | $18.10 |
Total return (%) (r)(s)(t)(x) | 24.74 | 14.61 | (1.48) | 7.12 | 17.07(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.67 | 0.71 | 0.74 | 0.74 | 0.77(c) |
Expenses after expense reductions (f) | 0.65 | 0.70 | 0.73 | 0.73 | 0.76(c) |
Net investment income (loss) | 1.30 | 1.37 | 2.18 | 1.80 | 1.72(c) |
Portfolio turnover | 19 | 22 | 22 | 25 | 33 |
Net assets at end of period (000 omitted) | $14,433,482 | $9,787,763 | $7,350,641 | $6,756,773 | $5,228,377 |
Class 529A | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $19.68 | $17.52 | $18.83 | $17.84 | $15.61 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.20 | $0.17 | $0.31 | $0.26 | $0.23(c) |
Net realized and unrealized gain (loss) | 4.54 | 2.31 | (0.77) | 0.95 | 2.31 |
Total from investment operations | $4.74 | $2.48 | $(0.46) | $1.21 | $2.54 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.15) | $(0.32) | $(0.72) | $(0.22) | $(0.31) |
From net realized gain | — | — | (0.13) | — | — |
Total distributions declared to shareholders | $(0.15) | $(0.32) | $(0.85) | $(0.22) | $(0.31) |
Net asset value, end of period (x) | $24.27 | $19.68 | $17.52 | $18.83 | $17.84 |
Total return (%) (r)(s)(t)(x) | 24.23 | 14.23 | (1.94) | 6.78 | 16.60(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.06 | 1.12 | 1.15 | 1.15 | 1.22(c) |
Expenses after expense reductions (f) | 1.03 | 1.09 | 1.13 | 1.11 | 1.13(c) |
Net investment income (loss) | 0.91 | 0.96 | 1.77 | 1.37 | 1.39(c) |
Portfolio turnover | 19 | 22 | 22 | 25 | 33 |
Net assets at end of period (000 omitted) | $17,630 | $13,072 | $11,805 | $12,615 | $10,464 |
Class 529B | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $18.48 | $16.47 | $17.72 | $16.79 | $14.78 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.03 | $0.03 | $0.16 | $0.10 | $0.09(c) |
Net realized and unrealized gain (loss) | 4.27 | 2.16 | (0.71) | 0.90 | 2.18 |
Total from investment operations | $4.30 | $2.19 | $(0.55) | $1.00 | $2.27 |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.18) | $(0.57) | $(0.07) | $(0.26) |
From net realized gain | — | — | (0.13) | — | — |
Total distributions declared to shareholders | $— | $(0.18) | $(0.70) | $(0.07) | $(0.26) |
Net asset value, end of period (x) | $22.78 | $18.48 | $16.47 | $17.72 | $16.79 |
Total return (%) (r)(s)(t)(x) | 23.27 | 13.33 | (2.64) | 5.94 | 15.68(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.82 | 1.87 | 1.90 | 1.90 | 1.97(c) |
Expenses after expense reductions (f) | 1.80 | 1.86 | 1.89 | 1.88 | 1.90(c) |
Net investment income (loss) | 0.15 | 0.16 | 1.00 | 0.56 | 0.58(c) |
Portfolio turnover | 19 | 22 | 22 | 25 | 33 |
Net assets at end of period (000 omitted) | $185 | $230 | $287 | $358 | $386 |
Class 529C | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $18.10 | $16.13 | $17.38 | $16.51 | $14.53 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.02 | $0.03 | $0.15 | $0.09 | $0.10(c) |
Net realized and unrealized gain (loss) | 4.19 | 2.12 | (0.69) | 0.89 | 2.15 |
Total from investment operations | $4.21 | $2.15 | $(0.54) | $0.98 | $2.25 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.01) | $(0.18) | $(0.58) | $(0.11) | $(0.27) |
From net realized gain | — | — | (0.13) | — | — |
Total distributions declared to shareholders | $(0.01) | $(0.18) | $(0.71) | $(0.11) | $(0.27) |
Net asset value, end of period (x) | $22.30 | $18.10 | $16.13 | $17.38 | $16.51 |
Total return (%) (r)(s)(t)(x) | 23.27 | 13.39 | (2.68) | 5.93 | 15.78(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.82 | 1.87 | 1.90 | 1.90 | 1.97(c) |
Expenses after expense reductions (f) | 1.80 | 1.85 | 1.89 | 1.87 | 1.89(c) |
Net investment income (loss) | 0.08 | 0.18 | 0.95 | 0.53 | 0.63(c) |
Portfolio turnover | 19 | 22 | 22 | 25 | 33 |
Net assets at end of period (000 omitted) | $2,071 | $2,688 | $2,981 | $3,572 | $3,856 |
(c) | Amount reflects a one-time reimbursement of expenses by the custodian (or former custodian) without which net investment income and performance would be lower and expenses would be higher. |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. |
(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 | $3,393,450,941 | $— | $— | $3,393,450,941 |
Switzerland | 2,190,498,828 | — | — | 2,190,498,828 |
France | 1,714,302,027 | — | — | 1,714,302,027 |
Germany | 1,584,471,256 | — | — | 1,584,471,256 |
United Kingdom | 1,402,380,859 | — | — | 1,402,380,859 |
United States | 1,311,311,766 | — | — | 1,311,311,766 |
Netherlands | 877,189,442 | — | — | 877,189,442 |
Hong Kong | 807,927,252 | — | — | 807,927,252 |
China | 650,676,330 | — | — | 650,676,330 |
Other Countries | 3,043,599,684 | 69,985,052 | — | 3,113,584,736 |
Mutual Funds | 241,842,376 | — | — | 241,842,376 |
Total | $17,217,650,761 | $69,985,052 | $— | $17,287,635,813 |
Year ended 8/31/21 | Year ended 8/31/20 | |
Ordinary income (including any short-term capital gains) | $135,001,732 | $195,001,415 |
As of 8/31/21 | |
Cost of investments | $12,492,935,612 |
Gross appreciation | 5,099,652,193 |
Gross depreciation | (304,951,992) |
Net unrealized appreciation (depreciation) | $ 4,794,700,201 |
Undistributed ordinary income | 156,144,051 |
Capital loss carryforwards | (50,831,739) |
Other temporary differences | (208,667) |
Total distributable earnings (loss) | $ 4,899,803,846 |
Long-Term | $(50,831,739) |
Year ended 8/31/21 | Year ended 8/31/20 | ||
Class A | $6,373,940 | $11,396,464 | |
Class B | — | 30,070 | |
Class C | — | 220,193 | |
Class I | 10,184,538 | 11,272,253 | |
Class R1 | 1,070 | 22,306 | |
Class R2 | 476,506 | 1,489,011 | |
Class R3 | 492,210 | 1,090,789 | |
Class R4 | 503,547 | 725,317 | |
Class R6 | 116,864,930 | 168,508,766 | |
Class 529A | 103,537 | 212,373 | |
Class 529B | — | 3,033 | |
Class 529C | 1,454 | 30,840 | |
Total | $135,001,732 | $195,001,415 |
Up to $1 billion | 0.90% |
In excess of $1 billion and up to $2 billion | 0.80% |
In excess of $2 billion and up to $5 billion | 0.70% |
In excess of $5 billion and up to $10 billion | 0.60% |
In excess of $10 billion and up to $20 billion | 0.55% |
In excess of $20 billion | 0.50% |
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% | $ 2,162,534 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 24,265 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 159,304 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 22,460 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 481,241 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 178,514 |
Class 529A | — | 0.25% | 0.25% | 0.23% | 38,623 |
Class 529B | 0.75% | 0.25% | 1.00% | 1.00% | 2,200 |
Class 529C | 0.75% | 0.25% | 1.00% | 1.00% | 23,121 |
Total Distribution and Service Fees | $3,092,262 |
(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 year ended August 31, 2021 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 year ended August 31, 2021, this rebate amounted to $248, $1, $9, $375, $2,833, and $91 for Class A, Class B, Class C, Class R2, Class 529A, and Class 529C, respectively, and is included in the reduction of total expenses in the Statement of Operations. |
Amount | |
Class A | $3,533 |
Class B | 1,460 |
Class C | 383 |
Class 529B | — |
Class 529C | 56 |
Fee | |
Class 529A | $7,725 |
Class 529B | 110 |
Class 529C | 1,156 |
Total Program Manager Fees | $8,991 |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 7,988,814 | $177,803,102 | 13,963,138 | $243,893,288 | |
Class B | 819 | 18,247 | 434 | 8,259 | |
Class C | 81,953 | 1,754,921 | 160,107 | 2,687,377 | |
Class I | 27,732,560 | 641,832,578 | 28,023,915 | 529,889,314 | |
Class R1 | 73,014 | 1,530,968 | 15,393 | 258,945 | |
Class R2 | 980,214 | 21,710,541 | 635,974 | 10,968,211 | |
Class R3 | 970,133 | 21,215,643 | 1,005,627 | 18,100,300 | |
Class R4 | 2,630,087 | 57,931,014 | 506,755 | 9,333,025 | |
Class R6 | 111,039,191 | 2,475,567,361 | 95,811,233 | 1,741,916,575 | |
Class 529A | 127,430 | 2,796,879 | 103,747 | 1,834,726 | |
Class 529B | 433 | 9,509 | 266 | 4,879 | |
Class 529C | 12,771 | 256,471 | 15,983 | 273,521 | |
151,637,419 | $3,402,427,234 | 140,242,572 | $2,559,168,420 |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 226,334 | $4,852,592 | 437,182 | $8,358,920 | |
Class B | — | — | 1,242 | 23,006 | |
Class C | — | — | 9,214 | 166,220 | |
Class I | 403,189 | 8,958,852 | 442,527 | 8,766,464 | |
Class R1 | 54 | 1,070 | 1,263 | 22,306 | |
Class R2 | 22,928 | 474,842 | 79,497 | 1,469,099 | |
Class R3 | 23,207 | 492,210 | 57,653 | 1,090,789 | |
Class R4 | 22,208 | 476,800 | 37,248 | 713,292 | |
Class R6 | 5,117,127 | 108,943,629 | 8,352,804 | 158,536,225 | |
Class 529A | 4,868 | 102,228 | 11,339 | 212,373 | |
Class 529B | — | — | 171 | 3,033 | |
Class 529C | 75 | 1,454 | 1,781 | 30,840 | |
5,819,990 | $124,303,677 | 9,431,921 | $179,392,567 | ||
Shares reacquired | |||||
Class A | (7,800,633) | $(173,343,749) | (10,752,192) | $(192,913,401) | |
Class B | (44,123) | (949,284) | (59,995) | (1,061,298) | |
Class C | (343,142) | (7,041,169) | (594,255) | (10,250,272) | |
Class I | (11,790,913) | (275,284,618) | (17,336,911) | (307,238,171) | |
Class R1 | (27,583) | (567,359) | (34,780) | (565,446) | |
Class R2 | (1,252,832) | (27,165,069) | (1,806,604) | (32,098,920) | |
Class R3 | (1,089,197) | (24,160,347) | (1,306,755) | (23,979,131) | |
Class R4 | (836,491) | (18,679,345) | (1,510,071) | (28,331,024) | |
Class R6 | (20,701,755) | (468,833,018) | (27,561,757) | (500,610,866) | |
Class 529A | (70,237) | (1,550,370) | (124,476) | (2,251,083) | |
Class 529B | (4,806) | (99,768) | (5,399) | (91,935) | |
Class 529C | (68,530) | (1,364,053) | (53,968) | (868,179) | |
(44,030,242) | $(999,038,149) | (61,147,163) | $(1,100,259,726) |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Net change | |||||
Class A | 414,515 | $9,311,945 | 3,648,128 | $59,338,807 | |
Class B | (43,304) | (931,037) | (58,319) | (1,030,033) | |
Class C | (261,189) | (5,286,248) | (424,934) | (7,396,675) | |
Class I | 16,344,836 | 375,506,812 | 11,129,531 | 231,417,607 | |
Class R1 | 45,485 | 964,679 | (18,124) | (284,195) | |
Class R2 | (249,690) | (4,979,686) | (1,091,133) | (19,661,610) | |
Class R3 | (95,857) | (2,452,494) | (243,475) | (4,788,042) | |
Class R4 | 1,815,804 | 39,728,469 | (966,068) | (18,284,707) | |
Class R6 | 95,454,563 | 2,115,677,972 | 76,602,280 | 1,399,841,934 | |
Class 529A | 62,061 | 1,348,737 | (9,390) | (203,984) | |
Class 529B | (4,373) | (90,259) | (4,962) | (84,023) | |
Class 529C | (55,684) | (1,106,128) | (36,204) | (563,818) | |
113,427,167 | $2,527,692,762 | 88,527,330 | $1,638,301,261 |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $117,231,063 | $2,486,829,121 | $2,362,217,807 | $— | $(1) | $241,842,376 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $101,593 | $— |
October 15, 2021
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEES | ||||||||||
Robert J. Manning (k) (age 57) | Trustee | February 2004 | 136 | Massachusetts Financial Services Company, Non-Executive Chairman (since January 2021); Director; Chairman of the Board; Executive Chairman (January 2017-2020); Co-Chief Executive Officer (2015-2016) | N/A | |||||
Michael W. Roberge (k) (age 55) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; President (until December 2018); Chief Investment Officer (until December 2018); Co-Chief Executive Officer (until December 2016) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 66) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 70) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 67) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 66) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 66) | Trustee | January 2019 | 136 | Private investor | N/A |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
James W. Kilman, Jr. (age 60) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016); Morgan Stanley & Co. (financial services), Vice Chairman of Investment Banking, Co-Head of Diversified Financials Coverage – Financial Institutions Investment Banking Group (until 2016) | Alpha-En Corporation, Director (2016-2019) | |||||
Clarence Otis, Jr. (age 65) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 65) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 64) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 47) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Associate General Counsel | ||||
Kino Clark (k) (age 53) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
John W. Clark, Jr. (k) (age 54) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President (since March 2017); Deutsche Bank (financial services), Department Head - Treasurer's Office (until February 2017) | ||||
Thomas H. Connors (k) (age 62) | Assistant Secretary and Assistant Clerk | September 2012 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
David L. DiLorenzo (k) (age 53) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 54) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel (since March 2017); Harris Associates (investment management), General Counsel (until January 2017) | ||||
Brian E. Langenfeld (k) (age 48) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
Amanda S. Mooradian (k) (age 42) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 50) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Kasey L. Phillips (k) (age 50) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 46) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Martin J. Wolin (k) (age 54) | Chief Compliance Officer | July 2015 | 136 | Massachusetts Financial Services Company, Senior Vice President and Chief Compliance Officer |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
James O. Yost (k) (age 61) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. For the period from December 15, 2004 until February 22, 2005, Mr. Manning served as Advisory Trustee. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | State Street Bank and Trust Company 1 Lincoln Street Boston, MA 02111-2900 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Ernst & Young LLP 200 Clarendon Street Boston, MA 02116 |
Portfolio Manager(s) | |
Victoria Higley Camille Humphries-Lee |
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
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back cover |
Microsoft Corp. | 11.3% |
Amazon.com, Inc. | 9.2% |
Alphabet, Inc., “A” | 6.1% |
Adobe Systems, Inc. | 4.3% |
Facebook, Inc., “A” | 4.2% |
Mastercard, Inc., “A” | 3.8% |
PayPal Holdings, Inc. | 3.5% |
Booking Holdings, Inc. | 2.9% |
NVIDIA Corp. | 2.7% |
Global Payments, Inc. | 2.3% |
Computer Software | 25.6% |
Internet | 13.2% |
Business Services | 12.6% |
Specialty Stores | 12.5% |
Electronics | 10.7% |
(b) | Security is not a benchmark constituent. |
(h) | Security was not held in the portfolio at period end. |
Share Class | Class Inception Date | 1-yr | 5-yr | 10-yr | Life (t) |
A | 1/02/97 | 22.97% | 26.23% | 20.98% | N/A |
B | 4/14/00 | 22.06% | 25.28% | 20.08% | N/A |
C | 4/14/00 | 22.06% | 25.28% | 20.07% | N/A |
I | 1/02/97 | 23.28% | 26.54% | 21.27% | N/A |
R1 | 4/01/05 | 22.05% | 25.28% | 20.07% | N/A |
R2 | 10/31/03 | 22.67% | 25.91% | 20.67% | N/A |
R3 | 4/01/05 | 22.99% | 26.22% | 20.97% | N/A |
R4 | 4/01/05 | 23.28% | 26.54% | 21.28% | N/A |
R6 | 1/02/13 | 23.39% | 26.65% | N/A | 22.81% |
Standard & Poor's 500 Stock Index (f) | 31.17% | 18.02% | 16.34% | N/A |
Standard & Poor's North American Technology Sector Index (f) | 32.33% | 30.19% | 23.59% | N/A |
A With Initial Sales Charge (5.75%) | 15.90% | 24.74% | 20.26% | N/A |
B With CDSC (Declining over six years from 4% to 0%) (v) | 18.06% | 25.12% | 20.08% | N/A |
C With CDSC (1% for 12 months) (v) | 21.06% | 25.28% | 20.07% | N/A |
(f) | Source: FactSet Research Systems Inc. |
(t) | For the period from the class inception date through the stated period end (for those share classes with less than 10 years of performance history). No comparative benchmark performance information is provided for “life” periods. (See Notes to Performance Summary.) |
(v) | Assuming redemption at the end of the applicable period. |
(g) | “Standard & Poor's®” and “S&P®” are registered trademarks of Standard & Poor's Financial Services LLC (“S&P”) and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”) and have been licensed for use by S&P Dow Jones Indices LLC |
March 1, 2021 through August 31, 2021
Share Class | Annualized Expense Ratio | Beginning Account Value 3/01/21 | Ending Account Value 8/31/21 | Expenses Paid During Period (p) 3/01/21-8/31/21 | |
A | Actual | 1.10% | $1,000.00 | $1,143.27 | $5.94 |
Hypothetical (h) | 1.10% | $1,000.00 | $1,019.66 | $5.60 | |
B | Actual | 1.85% | $1,000.00 | $1,139.04 | $9.97 |
Hypothetical (h) | 1.85% | $1,000.00 | $1,015.88 | $9.40 | |
C | Actual | 1.85% | $1,000.00 | $1,139.01 | $9.97 |
Hypothetical (h) | 1.85% | $1,000.00 | $1,015.88 | $9.40 | |
I | Actual | 0.85% | $1,000.00 | $1,144.65 | $4.59 |
Hypothetical (h) | 0.85% | $1,000.00 | $1,020.92 | $4.33 | |
R1 | Actual | 1.85% | $1,000.00 | $1,138.97 | $9.97 |
Hypothetical (h) | 1.85% | $1,000.00 | $1,015.88 | $9.40 | |
R2 | Actual | 1.35% | $1,000.00 | $1,141.94 | $7.29 |
Hypothetical (h) | 1.35% | $1,000.00 | $1,018.40 | $6.87 | |
R3 | Actual | 1.10% | $1,000.00 | $1,143.38 | $5.94 |
Hypothetical (h) | 1.10% | $1,000.00 | $1,019.66 | $5.60 | |
R4 | Actual | 0.85% | $1,000.00 | $1,144.83 | $4.60 |
Hypothetical (h) | 0.85% | $1,000.00 | $1,020.92 | $4.33 | |
R6 | Actual | 0.77% | $1,000.00 | $1,145.09 | $4.16 |
Hypothetical (h) | 0.77% | $1,000.00 | $1,021.32 | $3.92 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 99.0% | ||||
Brokerage & Asset Managers – 0.8% | ||||
Charles Schwab Corp. | 92,425 | $ 6,733,161 | ||
Tradeweb Markets, Inc. | 135,551 | 11,794,293 | ||
$18,527,454 | ||||
Business Services – 12.6% | ||||
Clarivate PLC (a) | 752,710 | $ 18,960,765 | ||
Endava PLC, ADR (a) | 226,592 | 30,340,669 | ||
FleetCor Technologies, Inc. (a) | 57,068 | 15,024,863 | ||
Global Payments, Inc. | 325,795 | 52,987,304 | ||
LegalZoom.com, Inc. (a) | 227,586 | 7,790,269 | ||
Nuvei Corp. (a) | 238,270 | 30,260,290 | ||
Paya, Inc. (a) | 1,159,720 | 11,191,298 | ||
PayPal Holdings, Inc. (a) | 284,388 | 82,091,440 | ||
TaskUs, Inc., “A” (a) | 315,317 | 19,833,439 | ||
Verisk Analytics, Inc., “A” | 32,112 | 6,478,917 | ||
WEX, Inc. (a) | 99,654 | 18,293,485 | ||
$293,252,739 | ||||
Cable TV – 0.2% | ||||
Charter Communications, Inc., “A” (a) | 6,367 | $ 5,199,674 | ||
Computer Software – 25.5% | ||||
Adobe Systems, Inc. (a) | 152,814 | $ 101,422,652 | ||
AppLovin Corp. (a) | 93,782 | 6,602,253 | ||
Asana, Inc. (a) | 169,940 | 12,838,967 | ||
Atlassian Corp. PLC, “A” (a) | 55,149 | 20,242,992 | ||
Autodesk, Inc. (a) | 105,263 | 32,641,004 | ||
Black Knight, Inc. (a) | 178,431 | 13,501,874 | ||
Couchbase, Inc. (a) | 139,113 | 6,987,646 | ||
DoubleVerify Holdings, Inc. (a) | 284,329 | 10,329,672 | ||
Eventbrite, Inc. (a) | 553,520 | 9,786,233 | ||
Microsoft Corp. (s) | 869,373 | 262,446,321 | ||
NetEase.com, Inc., ADR | 12,373 | 1,205,378 | ||
Paycor HCM, Inc. (a) | 256,964 | 9,494,820 | ||
Ping Identity Holding Corp. (a) | 202,356 | 5,251,138 | ||
Qualtrics International, “A” (a) | 135,143 | 6,119,275 | ||
RAKUS Co. Ltd. | 41,000 | 1,449,711 | ||
RingCentral, Inc. (a) | 89,400 | 22,552,044 | ||
salesforce.com, inc. (a) | 193,337 | 51,286,506 | ||
Topicus.com, Inc. (a) | 79,910 | 8,109,125 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Computer Software – continued | ||||
Zendesk, Inc. (a) | 111,615 | $ 13,795,614 | ||
$596,063,225 | ||||
Computer Software - Systems – 10.6% | ||||
Apple, Inc. (s) | 317,732 | $ 48,241,250 | ||
Constellation Software, Inc. | 12,611 | 21,372,579 | ||
Descartes Systems Group, Inc. (a) | 208,657 | 16,358,153 | ||
EPAM Systems, Inc. (a) | 40,022 | 25,326,322 | ||
HubSpot, Inc. (a) | 49,465 | 33,857,308 | ||
Q2 Holdings, Inc. (a) | 121,059 | 10,664,087 | ||
ServiceNow, Inc. (a) | 64,776 | 41,692,425 | ||
Square, Inc., “A” (a) | 66,390 | 17,797,167 | ||
TransUnion | 155,189 | 18,860,119 | ||
Wix.com Ltd. (a) | 55,232 | 12,265,923 | ||
$246,435,333 | ||||
Consumer Services – 3.8% | ||||
Booking Holdings, Inc. (a) | 29,748 | $ 68,410,583 | ||
Lyft, Inc. (a) | 23,968 | 1,141,117 | ||
Uber Technologies, Inc. (a) | 482,685 | 18,892,291 | ||
$88,443,991 | ||||
Electronics – 10.7% | ||||
Advanced Micro Devices (a) | 395,328 | $ 43,770,716 | ||
KLA Corp. | 93,399 | 31,751,924 | ||
Lam Research Corp. | 55,513 | 33,575,373 | ||
Marvell Technology, Inc. | 402,072 | 24,602,786 | ||
Micron Technology, Inc. | 320,551 | 23,624,609 | ||
NVIDIA Corp. | 277,797 | 62,184,858 | ||
Skyworks Solutions, Inc. | 83,618 | 15,340,558 | ||
Xilinx, Inc. | 96,480 | 15,011,323 | ||
$249,862,147 | ||||
Internet – 13.2% | ||||
Alphabet, Inc., “A” (a) | 48,855 | $ 141,383,927 | ||
Blend Labs, Inc., “A” (a) | 228,494 | 3,699,318 | ||
Facebook, Inc., “A” (a) | 257,216 | 97,582,606 | ||
Match Group, Inc. (a) | 125,996 | 17,316,890 | ||
Mercadolibre, Inc. (a) | 9,996 | 18,667,030 | ||
Pinterest, Inc. (a) | 101,343 | 5,631,631 | ||
Tencent Holdings Ltd. | 398,800 | 24,674,226 | ||
$308,955,628 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Leisure & Toys – 1.1% | ||||
Activision Blizzard, Inc. | 112,558 | $ 9,271,403 | ||
Take-Two Interactive Software, Inc. (a) | 106,614 | 17,188,309 | ||
$26,459,712 | ||||
Machinery & Tools – 0.1% | ||||
Xometry, Inc., “A” (a) | 34,438 | $ 2,502,610 | ||
Medical & Health Technology & Services – 0.7% | ||||
Guardant Health, Inc. (a) | 68,505 | $ 8,718,631 | ||
LifeStance Health Group, Inc. (a) | 471,907 | 7,012,538 | ||
$15,731,169 | ||||
Medical Equipment – 1.1% | ||||
Bio-Techne Corp. | 27,252 | $ 13,602,563 | ||
Maravai Lifesciences Holdings, Inc., “A” (a) | 200,209 | 11,848,369 | ||
$25,450,932 | ||||
Other Banks & Diversified Financials – 6.1% | ||||
Mastercard, Inc., “A” | 258,094 | $ 89,359,886 | ||
Visa, Inc., “A” | 227,332 | 52,081,761 | ||
$141,441,647 | ||||
Specialty Stores – 12.5% | ||||
ACV Auctions, Inc. | 229,143 | $ 4,676,809 | ||
Amazon.com, Inc. (a)(s) | 61,681 | 214,081,798 | ||
Chewy, Inc., “A” (a) | 170,960 | 15,064,995 | ||
Farfetch Ltd., “A” (a) | 665,093 | 27,840,793 | ||
Pinduoduo, Inc., ADR (a) | 100,527 | 10,054,710 | ||
Sea Ltd., ADR (a) | 49,232 | 16,656,170 | ||
ThredUp, Inc. (a) | 195,763 | 3,752,777 | ||
$292,128,052 | ||||
Total Common Stocks (Identified Cost, $996,694,529) | $2,310,454,313 | |||
Investment Companies (h) – 0.7% | ||||
Money Market Funds – 0.7% | ||||
MFS Institutional Money Market Portfolio, 0.04% (v) (Identified Cost, $16,102,802) | 16,102,802 | $ 16,102,802 | ||
Other Assets, Less Liabilities – 0.3% | 6,233,888 | |||
Net Assets – 100.0% | $2,332,791,003 |
(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 $16,102,802 and $2,310,454,313, respectively. | |||
(s) | Security or a portion of the security was pledged to cover collateral requirements for securities sold short and/or certain derivative transactions. | |||
(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 |
Assets | |
Investments in unaffiliated issuers, at value (identified cost, $996,694,529) | $2,310,454,313 |
Investments in affiliated issuers, at value (identified cost, $16,102,802) | 16,102,802 |
Deposits with brokers for | |
Securities sold short | 57,259 |
Receivables for | |
Investments sold | 10,506,993 |
Fund shares sold | 1,534,840 |
Interest and dividends | 741,823 |
Other assets | 1,533 |
Total assets | $2,339,399,563 |
Liabilities | |
Payables for | |
Investments purchased | $4,154,363 |
Fund shares reacquired | 1,803,025 |
Payable to affiliates | |
Investment adviser | 90,350 |
Administrative services fee | 1,718 |
Shareholder servicing costs | 348,467 |
Distribution and service fees | 28,135 |
Payable for independent Trustees' compensation | 12 |
Accrued expenses and other liabilities | 182,490 |
Total liabilities | $6,608,560 |
Net assets | $2,332,791,003 |
Net assets consist of | |
Paid-in capital | $823,222,739 |
Total distributable earnings (loss) | 1,509,568,264 |
Net assets | $2,332,791,003 |
Shares of beneficial interest outstanding | 30,435,065 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $888,415,973 | 11,743,336 | $75.65 |
Class B | 44,389,767 | 708,314 | 62.67 |
Class C | 194,856,726 | 3,116,719 | 62.52 |
Class I | 608,832,900 | 7,419,062 | 82.06 |
Class R1 | 10,497,918 | 168,307 | 62.37 |
Class R2 | 37,796,899 | 531,477 | 71.12 |
Class R3 | 96,784,140 | 1,280,245 | 75.60 |
Class R4 | 47,323,849 | 593,944 | 79.68 |
Class R6 | 403,892,831 | 4,873,661 | 82.87 |
(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 $80.27 [100 / 94.25 x $75.65]. 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 | $5,667,564 |
Other | 138,661 |
Dividends from affiliated issuers | 19,190 |
Income on securities loaned | 4,557 |
Foreign taxes withheld | (33,788) |
Total investment income | $5,796,184 |
Expenses | |
Management fee | $15,500,699 |
Distribution and service fees | 4,804,901 |
Shareholder servicing costs | 1,968,566 |
Administrative services fee | 283,720 |
Independent Trustees' compensation | 29,477 |
Custodian fee | 132,494 |
Shareholder communications | 74,598 |
Audit and tax fees | 62,875 |
Legal fees | 14,019 |
Dividend and interest expense on securities sold short | 120,629 |
Interest expense and fees | 8,732 |
Miscellaneous | 218,885 |
Total expenses | $23,219,595 |
Reduction of expenses by investment adviser and distributor | (254,865) |
Net expenses | $22,964,730 |
Net investment income (loss) | $(17,168,546) |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $273,437,173 |
Affiliated issuers | 238 |
Written options | 1,392,308 |
Securities sold short | (12,272,732) |
Foreign currency | (12,306) |
Net realized gain (loss) | $262,544,681 |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers | $206,014,721 |
Affiliated issuers | (238) |
Net unrealized gain (loss) | $206,014,483 |
Net realized and unrealized gain (loss) | $468,559,164 |
Change in net assets from operations | $451,390,618 |
Year ended | ||
8/31/21 | 8/31/20 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $(17,168,546) | $(10,142,571) |
Net realized gain (loss) | 262,544,681 | 101,865,379 |
Net unrealized gain (loss) | 206,014,483 | 551,264,892 |
Change in net assets from operations | $451,390,618 | $642,987,700 |
Total distributions to shareholders | $(109,208,449) | $(27,686,049) |
Change in net assets from fund share transactions | $(52,798,844) | $162,189,967 |
Total change in net assets | $289,383,325 | $777,491,618 |
Net assets | ||
At beginning of period | 2,043,407,678 | 1,265,916,060 |
At end of period | $2,332,791,003 | $2,043,407,678 |
Class A | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $64.90 | $44.73 | $45.65 | $35.67 | $28.27 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.57) | $(0.35) | $(0.27) | $(0.26) | $(0.19)(c) |
Net realized and unrealized gain (loss) | 14.83 | 21.50 | 1.24 | 11.61 | 8.13 |
Total from investment operations | $14.26 | $21.15 | $0.97 | $11.35 | $7.94 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.51) | $(0.98) | $(1.89) | $(1.37) | $(0.54) |
Net asset value, end of period (x) | $75.65 | $64.90 | $44.73 | $45.65 | $35.67 |
Total return (%) (r)(s)(t)(x) | 22.97 | 48.23 | 2.97 | 32.79 | 28.58(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.12 | 1.18 | 1.19 | 1.24 | 1.24(c) |
Expenses after expense reductions (f) | 1.11 | 1.16 | 1.18 | 1.22 | 1.23(c) |
Net investment income (loss) | (0.85) | (0.71) | (0.64) | (0.66) | (0.63)(c) |
Portfolio turnover | 36 | 46 | 32 | 30 | 43 |
Net assets at end of period (000 omitted) | $888,416 | $745,157 | $471,468 | $484,477 | $359,698 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 1.11 | 1.13 | 1.15 | 1.16 | 1.19(c) |
Class B | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $54.73 | $38.16 | $39.55 | $31.31 | $25.06 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.89) | $(0.61) | $(0.50) | $(0.49) | $(0.38)(c) |
Net realized and unrealized gain (loss) | 12.34 | 18.16 | 1.00 | 10.10 | 7.17 |
Total from investment operations | $11.45 | $17.55 | $0.50 | $9.61 | $6.79 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.51) | $(0.98) | $(1.89) | $(1.37) | $(0.54) |
Net asset value, end of period (x) | $62.67 | $54.73 | $38.16 | $39.55 | $31.31 |
Total return (%) (r)(s)(t)(x) | 22.06 | 47.07 | 2.21 | 31.77 | 27.64(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.87 | 1.93 | 1.94 | 1.99 | 1.99(c) |
Expenses after expense reductions (f) | 1.86 | 1.92 | 1.93 | 1.98 | 1.98(c) |
Net investment income (loss) | (1.59) | (1.46) | (1.39) | (1.41) | (1.38)(c) |
Portfolio turnover | 36 | 46 | 32 | 30 | 43 |
Net assets at end of period (000 omitted) | $44,390 | $46,224 | $41,017 | $45,337 | $34,396 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 1.86 | 1.88 | 1.90 | 1.92 | 1.94(c) |
Class C | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $54.61 | $38.07 | $39.47 | $31.24 | $25.01 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.88) | $(0.61) | $(0.50) | $(0.49) | $(0.38)(c) |
Net realized and unrealized gain (loss) | 12.30 | 18.13 | 0.99 | 10.09 | 7.15 |
Total from investment operations | $11.42 | $17.52 | $0.49 | $9.60 | $6.77 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.51) | $(0.98) | $(1.89) | $(1.37) | $(0.54) |
Net asset value, end of period (x) | $62.52 | $54.61 | $38.07 | $39.47 | $31.24 |
Total return (%) (r)(s)(t)(x) | 22.06 | 47.11 | 2.19 | 31.81 | 27.62(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.87 | 1.93 | 1.94 | 1.98 | 1.99(c) |
Expenses after expense reductions (f) | 1.86 | 1.92 | 1.93 | 1.97 | 1.98(c) |
Net investment income (loss) | (1.59) | (1.46) | (1.40) | (1.41) | (1.38)(c) |
Portfolio turnover | 36 | 46 | 32 | 30 | 43 |
Net assets at end of period (000 omitted) | $194,857 | $183,286 | $128,817 | $128,707 | $101,656 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 1.86 | 1.88 | 1.91 | 1.92 | 1.94(c) |
Class I | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $69.94 | $48.02 | $48.74 | $37.90 | $29.93 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.43) | $(0.25) | $(0.18) | $(0.18) | $(0.13)(c) |
Net realized and unrealized gain (loss) | 16.06 | 23.15 | 1.35 | 12.39 | 8.64 |
Total from investment operations | $15.63 | $22.90 | $1.17 | $12.21 | $8.51 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.51) | $(0.98) | $(1.89) | $(1.37) | $(0.54) |
Net asset value, end of period (x) | $82.06 | $69.94 | $48.02 | $48.74 | $37.90 |
Total return (%) (r)(s)(t)(x) | 23.28 | 48.57 | 3.20 | 33.14 | 28.91(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.87 | 0.93 | 0.94 | 0.99 | 0.99(c) |
Expenses after expense reductions (f) | 0.86 | 0.92 | 0.93 | 0.98 | 0.98(c) |
Net investment income (loss) | (0.59) | (0.46) | (0.40) | (0.41) | (0.39)(c) |
Portfolio turnover | 36 | 46 | 32 | 30 | 43 |
Net assets at end of period (000 omitted) | $608,833 | $561,531 | $315,655 | $303,359 | $174,275 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 0.86 | 0.88 | 0.91 | 0.92 | 0.95(c) |
Class R1 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $54.49 | $37.99 | $39.39 | $31.18 | $24.96 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.89) | $(0.62) | $(0.50) | $(0.49) | $(0.38)(c) |
Net realized and unrealized gain (loss) | 12.28 | 18.10 | 0.99 | 10.07 | 7.14 |
Total from investment operations | $11.39 | $17.48 | $0.49 | $9.58 | $6.76 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.51) | $(0.98) | $(1.89) | $(1.37) | $(0.54) |
Net asset value, end of period (x) | $62.37 | $54.49 | $37.99 | $39.39 | $31.18 |
Total return (%) (r)(s)(t)(x) | 22.05 | 47.10 | 2.19 | 31.80 | 27.63(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.87 | 1.93 | 1.94 | 1.99 | 1.99(c) |
Expenses after expense reductions (f) | 1.86 | 1.91 | 1.93 | 1.98 | 1.98(c) |
Net investment income (loss) | (1.59) | (1.47) | (1.40) | (1.41) | (1.38)(c) |
Portfolio turnover | 36 | 46 | 32 | 30 | 43 |
Net assets at end of period (000 omitted) | $10,498 | $9,882 | $5,715 | $5,534 | $4,256 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 1.86 | 1.88 | 1.91 | 1.92 | 1.95(c) |
Class R2 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $61.36 | $42.45 | $43.55 | $34.17 | $27.17 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.68) | $(0.45) | $(0.36) | $(0.35) | $(0.26)(c) |
Net realized and unrealized gain (loss) | 13.95 | 20.34 | 1.15 | 11.10 | 7.80 |
Total from investment operations | $13.27 | $19.89 | $0.79 | $10.75 | $7.54 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.51) | $(0.98) | $(1.89) | $(1.37) | $(0.54) |
Net asset value, end of period (x) | $71.12 | $61.36 | $42.45 | $43.55 | $34.17 |
Total return (%) (r)(s)(t)(x) | 22.67 | 47.84 | 2.69 | 32.46 | 28.27(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.37 | 1.43 | 1.44 | 1.48 | 1.49(c) |
Expenses after expense reductions (f) | 1.36 | 1.42 | 1.43 | 1.48 | 1.49(c) |
Net investment income (loss) | (1.09) | (0.97) | (0.90) | (0.91) | (0.89)(c) |
Portfolio turnover | 36 | 46 | 32 | 30 | 43 |
Net assets at end of period (000 omitted) | $37,797 | $38,511 | $29,339 | $28,071 | $23,625 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 1.36 | 1.38 | 1.41 | 1.42 | 1.45(c) |
Class R3 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $64.85 | $44.71 | $45.63 | $35.66 | $28.26 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.56) | $(0.35) | $(0.27) | $(0.27) | $(0.20)(c) |
Net realized and unrealized gain (loss) | 14.82 | 21.47 | 1.24 | 11.61 | 8.14 |
Total from investment operations | $14.26 | $21.12 | $0.97 | $11.34 | $7.94 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.51) | $(0.98) | $(1.89) | $(1.37) | $(0.54) |
Net asset value, end of period (x) | $75.60 | $64.85 | $44.71 | $45.63 | $35.66 |
Total return (%) (r)(s)(t)(x) | 22.99 | 48.18 | 2.97 | 32.77 | 28.59(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.13 | 1.18 | 1.19 | 1.24 | 1.24(c) |
Expenses after expense reductions (f) | 1.11 | 1.17 | 1.18 | 1.23 | 1.23(c) |
Net investment income (loss) | (0.84) | (0.71) | (0.65) | (0.66) | (0.65)(c) |
Portfolio turnover | 36 | 46 | 32 | 30 | 43 |
Net assets at end of period (000 omitted) | $96,784 | $109,884 | $80,242 | $79,534 | $53,199 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 1.11 | 1.13 | 1.16 | 1.17 | 1.20(c) |
Class R4 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $68.01 | $46.72 | $47.47 | $36.95 | $29.19 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.42) | $(0.24) | $(0.17) | $(0.17) | $(0.13)(c) |
Net realized and unrealized gain (loss) | 15.60 | 22.51 | 1.31 | 12.06 | 8.43 |
Total from investment operations | $15.18 | $22.27 | $1.14 | $11.89 | $8.30 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.51) | $(0.98) | $(1.89) | $(1.37) | $(0.54) |
Net asset value, end of period (x) | $79.68 | $68.01 | $46.72 | $47.47 | $36.95 |
Total return (%) (r)(s)(t)(x) | 23.28 | 48.57 | 3.22 | 33.12 | 28.92(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.87 | 0.93 | 0.94 | 0.99 | 0.99(c) |
Expenses after expense reductions (f) | 0.86 | 0.92 | 0.93 | 0.98 | 0.99(c) |
Net investment income (loss) | (0.59) | (0.47) | (0.40) | (0.41) | (0.39)(c) |
Portfolio turnover | 36 | 46 | 32 | 30 | 43 |
Net assets at end of period (000 omitted) | $47,324 | $32,530 | $25,310 | $23,004 | $14,443 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 0.85 | 0.89 | 0.91 | 0.92 | 0.95(c) |
Class R6 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $70.54 | $48.38 | $49.03 | $38.09 | $30.05 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.37) | $(0.20) | $(0.13) | $(0.13) | $(0.10)(c) |
Net realized and unrealized gain (loss) | 16.21 | 23.34 | 1.37 | 12.44 | 8.68 |
Total from investment operations | $15.84 | $23.14 | $1.24 | $12.31 | $8.58 |
Less distributions declared to shareholders | |||||
From net realized gain | $(3.51) | $(0.98) | $(1.89) | $(1.37) | $(0.54) |
Net asset value, end of period (x) | $82.87 | $70.54 | $48.38 | $49.03 | $38.09 |
Total return (%) (r)(s)(t)(x) | 23.39 | 48.71 | 3.33 | 33.24 | 29.03(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.78 | 0.84 | 0.84 | 0.89 | 0.90(c) |
Expenses after expense reductions (f) | 0.77 | 0.82 | 0.83 | 0.88 | 0.89(c) |
Net investment income (loss) | (0.50) | (0.37) | (0.30) | (0.31) | (0.30)(c) |
Portfolio turnover | 36 | 46 | 32 | 30 | 43 |
Net assets at end of period (000 omitted) | $403,893 | $316,404 | $168,352 | $138,924 | $95,534 |
Supplemental Ratios (%): | |||||
Ratios of expenses to average net assets after expense reductions excluding short sale expenses and interest expense and fees (f) | 0.77 | 0.79 | 0.81 | 0.82 | 0.85(c) |
(c) | Amount reflects a one-time reimbursement of expenses by the custodian (or former custodian) without which net investment income and performance would be lower and expenses would be higher. |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. |
(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 | $2,310,454,313 | $— | $— | $2,310,454,313 |
Mutual Funds | 16,102,802 | — | — | 16,102,802 |
Total | $2,326,557,115 | $— | $— | $2,326,557,115 |
Risk | Written Options |
Equity | $1,392,308 |
Year ended 8/31/21 | Year ended 8/31/20 | |
Long-term capital gains | $109,208,449 | $27,686,049 |
As of 8/31/21 | |
Cost of investments | $1,017,368,053 |
Gross appreciation | 1,336,411,398 |
Gross depreciation | (27,222,336) |
Net unrealized appreciation (depreciation) | $1,309,189,062 |
Undistributed ordinary income | 64,444,592 |
Undistributed long-term capital gain | 135,934,610 |
Total distributable earnings (loss) | $1,509,568,264 |
Year ended 8/31/21 | Year ended 8/31/20 | |
Class A | $39,981,871 | $10,280,837 |
Class B | 2,836,401 | 1,005,040 |
Class C | 11,727,115 | 3,234,463 |
Class I | 27,987,681 | 6,452,463 |
Class R1 | 660,107 | 145,838 |
Class R2 | 2,189,374 | 661,860 |
Class R3 | 6,034,105 | 1,720,727 |
Class R4 | 1,741,234 | 561,942 |
Class R6 | 16,050,561 | 3,622,879 |
Total | $109,208,449 | $27,686,049 |
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 | 0.65% |
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% | $ 1,974,347 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 436,059 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 1,831,226 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 106,319 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 186,358 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 270,592 |
Total Distribution and Service Fees | $4,804,901 |
(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 year ended August 31, 2021 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 year ended August 31, 2021, this rebate amounted to $1,189, $32, and $6 for Class A, Class B, and Class C, respectively, and is included in the reduction of total expenses in the Statement of Operations. |
Amount | |
Class A | $5,442 |
Class B | 29,039 |
Class C | 16,010 |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 2,041,235 | $135,528,348 | 3,196,679 | $156,383,415 | |
Class B | 19,385 | 1,072,422 | 30,703 | 1,352,228 | |
Class C | 388,800 | 21,337,233 | 735,408 | 30,781,466 | |
Class I | 1,964,028 | 139,976,502 | 3,724,439 | 197,807,902 | |
Class R1 | 62,331 | 3,426,469 | 81,262 | 3,502,677 | |
Class R2 | 196,801 | 12,228,587 | 289,424 | 13,574,856 | |
Class R3 | 553,491 | 36,617,031 | 870,221 | 43,148,754 | |
Class R4 | 272,966 | 19,306,122 | 278,627 | 14,023,378 | |
Class R6 | 1,945,342 | 140,788,322 | 2,345,670 | 126,956,140 | |
7,444,379 | $510,281,036 | 11,552,433 | $587,530,816 | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 606,720 | $38,781,516 | 219,633 | $9,997,680 | |
Class B | 52,636 | 2,802,337 | 25,706 | 992,506 | |
Class C | 208,877 | 11,093,450 | 77,734 | 2,994,325 | |
Class I | 364,594 | 25,233,552 | 115,169 | 5,640,993 | |
Class R1 | 12,421 | 658,166 | 3,780 | 145,294 | |
Class R2 | 35,971 | 2,165,483 | 14,422 | 621,865 | |
Class R3 | 94,475 | 6,034,105 | 37,818 | 1,720,727 | |
Class R4 | 22,758 | 1,529,365 | 10,015 | 476,930 | |
Class R6 | 194,133 | 13,560,203 | 60,950 | 3,008,484 | |
1,592,585 | $101,858,177 | 565,227 | $25,598,804 | ||
Shares reacquired | |||||
Class A | (2,387,042) | $(158,552,829) | (2,473,623) | $(120,310,091) | |
Class B | (208,269) | (11,542,946) | (286,793) | (11,801,503) | |
Class C | (837,296) | (46,360,016) | (840,060) | (34,586,669) | |
Class I | (2,938,120) | (211,435,850) | (2,383,943) | (124,283,773) | |
Class R1 | (87,800) | (4,960,576) | (54,104) | (2,240,801) | |
Class R2 | (328,957) | (20,461,503) | (367,286) | (17,088,110) | |
Class R3 | (1,062,054) | (71,182,913) | (1,008,479) | (48,431,980) | |
Class R4 | (180,112) | (12,634,502) | (352,031) | (18,578,859) | |
Class R6 | (1,751,522) | (127,806,922) | (1,400,790) | (73,617,867) | |
(9,781,172) | $(664,938,057) | (9,167,109) | $(450,939,653) |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Net change | |||||
Class A | 260,913 | $15,757,035 | 942,689 | $46,071,004 | |
Class B | (136,248) | (7,668,187) | (230,384) | (9,456,769) | |
Class C | (239,619) | (13,929,333) | (26,918) | (810,878) | |
Class I | (609,498) | (46,225,796) | 1,455,665 | 79,165,122 | |
Class R1 | (13,048) | (875,941) | 30,938 | 1,407,170 | |
Class R2 | (96,185) | (6,067,433) | (63,440) | (2,891,389) | |
Class R3 | (414,088) | (28,531,777) | (100,440) | (3,562,499) | |
Class R4 | 115,612 | 8,200,985 | (63,389) | (4,078,551) | |
Class R6 | 387,953 | 26,541,603 | 1,005,830 | 56,346,757 | |
(744,208) | $(52,798,844) | 2,950,551 | $162,189,967 |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $38,944,270 | $388,729,398 | $411,570,866 | $238 | $(238) | $16,102,802 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $19,190 | $— |
October 15, 2021
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEES | ||||||||||
Robert J. Manning (k) (age 57) | Trustee | February 2004 | 136 | Massachusetts Financial Services Company, Non-Executive Chairman (since January 2021); Director; Chairman of the Board; Executive Chairman (January 2017-2020); Co-Chief Executive Officer (2015-2016) | N/A | |||||
Michael W. Roberge (k) (age 55) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; President (until December 2018); Chief Investment Officer (until December 2018); Co-Chief Executive Officer (until December 2016) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 66) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 70) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 67) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 66) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 66) | Trustee | January 2019 | 136 | Private investor | N/A |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
James W. Kilman, Jr. (age 60) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016); Morgan Stanley & Co. (financial services), Vice Chairman of Investment Banking, Co-Head of Diversified Financials Coverage – Financial Institutions Investment Banking Group (until 2016) | Alpha-En Corporation, Director (2016-2019) | |||||
Clarence Otis, Jr. (age 65) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 65) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 64) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 47) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Associate General Counsel | ||||
Kino Clark (k) (age 53) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
John W. Clark, Jr. (k) (age 54) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President (since March 2017); Deutsche Bank (financial services), Department Head - Treasurer's Office (until February 2017) | ||||
Thomas H. Connors (k) (age 62) | Assistant Secretary and Assistant Clerk | September 2012 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
David L. DiLorenzo (k) (age 53) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 54) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel (since March 2017); Harris Associates (investment management), General Counsel (until January 2017) | ||||
Brian E. Langenfeld (k) (age 48) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
Amanda S. Mooradian (k) (age 42) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 50) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Kasey L. Phillips (k) (age 50) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 46) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Martin J. Wolin (k) (age 54) | Chief Compliance Officer | July 2015 | 136 | Massachusetts Financial Services Company, Senior Vice President and Chief Compliance Officer |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
James O. Yost (k) (age 61) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. For the period from December 15, 2004 until February 22, 2005, Mr. Manning served as Advisory Trustee. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | State Street Bank and Trust Company 1 Lincoln Street Boston, MA 02111-2900 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Ernst & Young LLP 200 Clarendon Street Boston, MA 02116 |
Portfolio Manager(s) | |
Matthew Sabel |
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
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back cover |
A-1+ | 54.2% |
A-1 | 46.0% |
Other Assets Less Liabilities | (0.2)% |
0 - 7 days | 37.9% |
8 - 29 days | 23.8% |
30 - 59 days | 26.2% |
60 - 89 days | 12.3% |
Other Assets Less Liabilities | (0.2)% |
(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. |
(u) | For purposes of this presentation, accrued interest, where applicable, is included. |
Share Class | Inception | 1-Year Total Return (without sales charge) | Current 7-day yield |
A | 9/07/93 | 0.00% | 0.00% |
B | 12/29/86 | 0.00% | 0.00% |
C | 4/01/96 | 0.00% | 0.00% |
I | 9/18/18 | 0.00% | 0.00% |
R1 | 4/01/05 | 0.00% | 0.00% |
R2 | 4/01/05 | 0.00% | 0.00% |
R3 | 4/01/05 | 0.00% | 0.00% |
R4 | 4/01/05 | 0.00% | 0.00% |
R6 | 9/18/18 | 0.00% | 0.00% |
529A | 7/31/02 | 0.00% | 0.00% |
529B | 7/31/02 | 0.00% | 0.00% |
529C | 7/31/02 | 0.00% | 0.00% |
1-Year Total Return | |
B With CDSC (Declining over six years from 4% to 0%) (v) | (4.00)% |
C With CDSC (1% for 12 months) (v) | (1.00)% |
529B With CDSC (Declining over six years from 4% to 0%) (v) | (4.00)% |
529C With CDSC (1% for 12 months) (v) | (1.00)% |
(v) | Assuming redemption at the end of the applicable period. |
March 1, 2021 through August 31, 2021
Share Class | Annualized Expense Ratio | Beginning Account Value 3/01/21 | Ending Account Value 8/31/21 | Expenses Paid During Period (p) 3/01/21-8/31/21 | |
A | Actual | 0.02% | $1,000.00 | $1,000.00 | $0.10 |
Hypothetical (h) | 0.02% | $1,000.00 | $1,025.10 | $0.10 | |
B | Actual | 0.02% | $1,000.00 | $1,000.00 | $0.10 |
Hypothetical (h) | 0.02% | $1,000.00 | $1,025.10 | $0.10 | |
C | Actual | 0.03% | $1,000.00 | $1,000.00 | $0.15 |
Hypothetical (h) | 0.03% | $1,000.00 | $1,025.05 | $0.15 | |
I | Actual | 0.03% | $1,000.00 | $1,000.00 | $0.15 |
Hypothetical (h) | 0.03% | $1,000.00 | $1,025.05 | $0.15 | |
R1 | Actual | 0.03% | $1,000.00 | $1,000.00 | $0.15 |
Hypothetical (h) | 0.03% | $1,000.00 | $1,025.05 | $0.15 | |
R2 | Actual | 0.03% | $1,000.00 | $1,000.00 | $0.15 |
Hypothetical (h) | 0.03% | $1,000.00 | $1,025.05 | $0.15 | |
R3 | Actual | 0.03% | $1,000.00 | $1,000.00 | $0.15 |
Hypothetical (h) | 0.03% | $1,000.00 | $1,025.05 | $0.15 | |
R4 | Actual | 0.03% | $1,000.00 | $1,000.00 | $0.15 |
Hypothetical (h) | 0.03% | $1,000.00 | $1,025.05 | $0.15 | |
R6 | Actual | 0.03% | $1,000.00 | $1,000.00 | $0.15 |
Hypothetical (h) | 0.03% | $1,000.00 | $1,025.05 | $0.15 | |
529A | Actual | 0.02% | $1,000.00 | $1,000.00 | $0.10 |
Hypothetical (h) | 0.02% | $1,000.00 | $1,025.10 | $0.10 | |
529B | Actual | 0.02% | $1,000.00 | $1,000.00 | $0.10 |
Hypothetical (h) | 0.02% | $1,000.00 | $1,025.10 | $0.10 | |
529C | Actual | 0.02% | $1,000.00 | $1,000.00 | $0.10 |
Hypothetical (h) | 0.02% | $1,000.00 | $1,025.10 | $0.10 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
U.S. Government Agencies and Equivalents (y) – 79.0% | ||||
Fannie Mae, 0.001%, due 9/01/2021 | $ 7,339,000 | $ 7,339,000 | ||
Fannie Mae, 0.001%, due 9/08/2021 | 5,841,000 | 5,840,999 | ||
Fannie Mae, 0.007%, due 9/15/2021 | 2,803,000 | 2,802,992 | ||
Fannie Mae, 0.041%, due 9/22/2021 | 2,028,000 | 2,027,953 | ||
Fannie Mae, 0.03%, due 9/29/2021 | 6,239,000 | 6,238,854 | ||
Fannie Mae, 0.035%, due 11/03/2021 | 2,278,000 | 2,277,860 | ||
Federal Farm Credit Bank, 0.03%, due 9/10/2021 | 7,168,000 | 7,167,946 | ||
Federal Farm Credit Bank, 0.03%, due 10/01/2021 | 5,228,000 | 5,227,869 | ||
Federal Farm Credit Bank, 0.041%, due 11/08/2021 | 8,109,000 | 8,108,387 | ||
Federal Home Loan Bank, 0.02%, due 9/01/2021 | 2,465,000 | 2,465,000 | ||
Federal Home Loan Bank, 0.02%, due 9/03/2021 | 10,464,000 | 10,463,988 | ||
Federal Home Loan Bank, 0.033%, due 9/15/2021 | 3,160,000 | 3,159,959 | ||
Federal Home Loan Bank, 0.03%, due 9/15/2021 | 2,916,000 | 2,915,966 | ||
U.S. Treasury Bill, 0.018%, due 9/02/2021 | 2,721,000 | 2,720,999 | ||
U.S. Treasury Bill, 0.041%, due 9/07/2021 | 15,429,000 | 15,428,897 | ||
U.S. Treasury Bill, 0.038%, due 9/09/2021 | 3,988,000 | 3,987,967 | ||
U.S. Treasury Bill, 0.015%, due 9/09/2021 | 2,477,000 | 2,476,992 | ||
U.S. Treasury Bill, 0.035%, due 9/09/2021 | 3,500,000 | 3,499,973 | ||
U.S. Treasury Bill, 0.035%, due 9/14/2021 | 1,071,000 | 1,070,986 | ||
U.S. Treasury Bill, 0.035%, due 9/16/2021 | 10,597,000 | 10,596,845 | ||
U.S. Treasury Bill, 0.041%, due 9/21/2021 | 3,009,000 | 3,008,933 | ||
U.S. Treasury Bill, 0.035%, due 9/28/2021 | 14,128,000 | 14,127,629 | ||
U.S. Treasury Bill, 0.041%, due 10/05/2021 | 9,631,000 | 9,630,636 | ||
U.S. Treasury Bill, 0.035%, due 10/07/2021 | 3,150,000 | 3,149,890 | ||
U.S. Treasury Bill, 0.046%, due 10/07/2021 | 4,158,000 | 4,157,813 | ||
U.S. Treasury Bill, 0.041%, due 10/12/2021 | 12,343,000 | 12,342,438 | ||
U.S. Treasury Bill, 0.042%, due 10/14/2021 | 8,463,000 | 8,462,586 | ||
U.S. Treasury Bill, 0.051%, due 10/19/2021 | 9,089,000 | 9,088,394 | ||
U.S. Treasury Bill, 0.042%, due 10/21/2021 | 5,977,000 | 5,976,660 | ||
U.S. Treasury Bill, 0.046%, due 10/26/2021 | 6,129,000 | 6,128,579 | ||
U.S. Treasury Bill, 0.041%, due 10/26/2021 | 5,477,000 | 5,476,665 | ||
U.S. Treasury Bill, 0.041%, due 11/02/2021 | 12,111,000 | 12,110,166 | ||
U.S. Treasury Bill, 0.056%, due 11/12/2021 | 7,594,000 | 7,593,165 | ||
U.S. Treasury Bill, 0.041%, due 11/16/2021 | 2,551,000 | 2,550,785 | ||
Total U.S. Government Agencies and Equivalents, at Amortized Cost and Value | $209,623,771 |
Issuer | Shares/Par | Value ($) | ||
Repurchase Agreements – 21.2% | ||||
Bank of America Corp. Repurchase Agreement, 0.05%, dated 8/31/2021, due 9/01/2021, total to be received $28,016,039 (secured by U.S. Treasury obligations valued at $28,649,200) | $ 28,016,000 | $ 28,016,000 | ||
JPMorgan Chase & Co. Repurchase Agreement, 0.05%, dated 8/31/2021, due 9/01/2021, total to be received $28,033,039 (secured by U.S. Treasury obligations valued at $28,593,820) | 28,033,000 | 28,033,000 | ||
Total Repurchase Agreements, at Cost and Value | $ 56,049,000 | |||
Other Assets, Less Liabilities – (0.2)% | (418,236) | |||
Net Assets – 100.0% | $265,254,535 |
(y) | The rate shown represents an annualized yield at time of purchase. |
Assets | |
Investments in unaffiliated issuers, at cost and value | $209,623,771 |
Investments in unaffiliated repurchase agreements, at cost and value | 56,049,000 |
Cash | 428 |
Receivables for | |
Fund shares sold | 155,977 |
Interest | 78 |
Receivable from investment adviser and distributor | 59,078 |
Other assets | 350 |
Total assets | $265,888,682 |
Liabilities | |
Payables for | |
Fund shares reacquired | $499,465 |
Payable to affiliates | |
Administrative services fee | 249 |
Shareholder servicing costs | 56,118 |
Program manager fees | 94 |
Payable for independent Trustees' compensation | 3,961 |
Accrued expenses and other liabilities | 74,260 |
Total liabilities | $634,147 |
Net assets | $265,254,535 |
Net assets consist of | |
Paid-in capital | $265,224,202 |
Total distributable earnings (loss) | 30,333 |
Net assets | $265,254,535 |
Shares of beneficial interest outstanding | 265,449,720 |
Net assets | Shares outstanding | Net asset value per share | |
Class A | $128,482,350 | 128,577,092 | $1.00 |
Class B | 6,792,374 | 6,797,420 | 1.00 |
Class C | 23,748,465 | 23,765,510 | 1.00 |
Class I | 12,819,478 | 12,828,930 | 1.00 |
Class R1 | 8,761,446 | 8,767,889 | 1.00 |
Class R2 | 26,432,036 | 26,451,612 | 1.00 |
Class R3 | 21,266,444 | 21,282,066 | 1.00 |
Class R4 | 2,675,714 | 2,677,683 | 1.00 |
Class R6 | 112,554 | 112,636 | 1.00 |
Class 529A | 27,919,450 | 27,940,026 | 1.00 |
Class 529B | 182,101 | 182,235 | 1.00 |
Class 529C | 6,062,123 | 6,066,621 | 1.00 |
Net investment income (loss) | |
Income | |
Interest | $151,531 |
Other | 3,710 |
Total investment income | $155,241 |
Expenses | |
Management fee | $1,194,789 |
Distribution and service fees | 1,180,656 |
Shareholder servicing costs | 449,593 |
Program manager fees | 18,491 |
Administrative services fee | 49,109 |
Independent Trustees' compensation | 7,011 |
Custodian fee | 22,319 |
Shareholder communications | 12,442 |
Audit and tax fees | 40,430 |
Legal fees | 2,128 |
Miscellaneous | 179,774 |
Total expenses | $3,156,742 |
Reduction of expenses by investment adviser and distributor | (3,001,501) |
Net expenses | $155,241 |
Net investment income (loss) | $0 |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $34,722 |
Change in net assets from operations | $34,722 |
Year ended | ||
8/31/21 | 8/31/20 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $0 | $1,106,667 |
Net realized gain (loss) | 34,722 | 100 |
Change in net assets from operations | $34,722 | $1,106,767 |
Total distributions to shareholders | $— | $(1,106,667) |
Change in net assets from fund share transactions | $(36,517,974) | $89,527,043 |
Total change in net assets | $(36,483,252) | $89,527,143 |
Net assets | ||
At beginning of period | 301,737,787 | 212,210,644 |
At end of period | $265,254,535 | $301,737,787 |
Class A | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.00 | $0.00(w) | $0.02 | $0.01 | $0.00(c)(w) |
Net realized and unrealized gain (loss) | 0.00(w) | 0.00(w) | 0.00(w) | — | (0.00)(w) |
Total from investment operations | $0.00(w) | $0.00(w) | $0.02 | $0.01 | $0.00(w) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.00)(w) | $(0.02) | $(0.01) | $(0.00)(w) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 0.00 | 0.54 | 1.58 | 0.76 | 0.08(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.91 | 0.96 | 0.98 | 0.94 | 0.91(c) |
Expenses after expense reductions (f) | 0.05 | 0.44 | 0.72 | 0.68 | 0.50(c) |
Net investment income (loss) | 0.00 | 0.44 | 1.57 | 0.76 | 0.08(c) |
Net assets at end of period (000 omitted) | $128,482 | $140,426 | $99,511 | $100,463 | $105,859 |
Class B | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.00 | $0.00(w) | $0.02 | $0.01 | $0.00(c)(w) |
Net realized and unrealized gain (loss) | 0.00(w) | 0.00(w) | 0.00(w) | — | (0.00)(w) |
Total from investment operations | $0.00(w) | $0.00(w) | $0.02 | $0.01 | $0.00(w) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.00)(w) | $(0.02) | $(0.01) | $(0.00)(w) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 0.00 | 0.54 | 1.58 | 0.76 | 0.08(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.66 | 1.71 | 1.73 | 1.69 | 1.66(c) |
Expenses after expense reductions (f) | 0.05 | 0.47 | 0.72 | 0.68 | 0.51(c) |
Net investment income (loss) | 0.00 | 0.49 | 1.57 | 0.72 | 0.07(c) |
Net assets at end of period (000 omitted) | $6,792 | $9,528 | $8,977 | $11,664 | $17,338 |
Class C | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.00 | $0.00(w) | $0.02 | $0.01 | $0.00(c)(w) |
Net realized and unrealized gain (loss) | 0.00(w) | 0.00(w) | 0.00(w) | — | (0.00)(w) |
Total from investment operations | $0.00(w) | $0.00(w) | $0.02 | $0.01 | $0.00(w) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.00)(w) | $(0.02) | $(0.01) | $(0.00)(w) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 0.00 | 0.54 | 1.58 | 0.76 | 0.08(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.66 | 1.71 | 1.73 | 1.69 | 1.66(c) |
Expenses after expense reductions (f) | 0.05 | 0.40 | 0.72 | 0.68 | 0.50(c) |
Net investment income (loss) | 0.00 | 0.37 | 1.57 | 0.68 | 0.07(c) |
Net assets at end of period (000 omitted) | $23,748 | $34,508 | $19,438 | $18,451 | $38,458 |
Class I | Year ended | ||
8/31/21 | 8/31/20 | 8/31/19(i) | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||
Net investment income (loss) (d) | $0.00 | $0.00(w) | $0.02 |
Net realized and unrealized gain (loss) | 0.00(w) | 0.00(w) | 0.00(w) |
Total from investment operations | $0.00(w) | $0.00(w) | $0.02 |
Less distributions declared to shareholders | |||
From net investment income | $— | $(0.00)(w) | $(0.02) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 0.00 | 0.54 | 1.52(n) |
Ratios (%) (to average net assets) and Supplemental data: | |||
Expenses before expense reductions (f) | 0.65 | 0.69 | 0.73(a) |
Expenses after expense reductions (f) | 0.05 | 0.23 | 0.72(a) |
Net investment income (loss) | 0.00 | 0.06 | 1.60(a) |
Net assets at end of period (000 omitted) | $12,819 | $9,797 | $56 |
Class R1 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.00 | $0.00(w) | $0.02 | $0.01 | $0.00(c)(w) |
Net realized and unrealized gain (loss) | 0.00(w) | 0.00(w) | 0.00(w) | — | (0.00)(w) |
Total from investment operations | $0.00(w) | $0.00(w) | $0.02 | $0.01 | $0.00(w) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.00)(w) | $(0.02) | $(0.01) | $(0.00)(w) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 0.00 | 0.54 | 1.57 | 0.76 | 0.08(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.65 | 1.71 | 1.73 | 1.69 | 1.66(c) |
Expenses after expense reductions (f) | 0.05 | 0.47 | 0.72 | 0.68 | 0.50(c) |
Net investment income (loss) | 0.00 | 0.48 | 1.57 | 0.72 | 0.07(c) |
Net assets at end of period (000 omitted) | $8,761 | $9,209 | $7,610 | $8,305 | $12,236 |
Class R2 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.00 | $0.01 | $0.02 | $0.01 | $0.00(c)(w) |
Net realized and unrealized gain (loss) | 0.00(w) | 0.00(w) | 0.00(w) | — | (0.00)(w) |
Total from investment operations | $0.00(w) | $0.01 | $0.02 | $0.01 | $0.00(w) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.01) | $(0.02) | $(0.01) | $(0.00)(w) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 0.00 | 0.54 | 1.57 | 0.76 | 0.08(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.16 | 1.21 | 1.23 | 1.19 | 1.16(c) |
Expenses after expense reductions (f) | 0.05 | 0.48 | 0.72 | 0.68 | 0.51(c) |
Net investment income (loss) | 0.00 | 0.51 | 1.57 | 0.73 | 0.08(c) |
Net assets at end of period (000 omitted) | $26,432 | $33,676 | $31,672 | $34,993 | $48,184 |
Class R3 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.00 | $0.00(w) | $0.02 | $0.01 | $0.00(c)(w) |
Net realized and unrealized gain (loss) | 0.00(w) | 0.00(w) | 0.00(w) | — | (0.00)(w) |
Total from investment operations | $0.00(w) | $0.00(w) | $0.02 | $0.01 | $0.00(w) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.00)(w) | $(0.02) | $(0.01) | $(0.00)(w) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 0.00 | 0.54 | 1.57 | 0.76 | 0.08(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.90 | 0.96 | 0.98 | 0.94 | 0.91(c) |
Expenses after expense reductions (f) | 0.05 | 0.44 | 0.72 | 0.68 | 0.51(c) |
Net investment income (loss) | 0.00 | 0.44 | 1.55 | 0.73 | 0.08(c) |
Net assets at end of period (000 omitted) | $21,266 | $24,536 | $16,471 | $26,227 | $35,196 |
Class R4 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.00 | $0.01 | $0.02 | $0.01 | $0.00(c)(w) |
Net realized and unrealized gain (loss) | 0.00(w) | 0.00(w) | 0.00(w) | — | (0.00)(w) |
Total from investment operations | $0.00(w) | $0.01 | $0.02 | $0.01 | $0.00(w) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.01) | $(0.02) | $(0.01) | $(0.00)(w) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 0.00 | 0.54 | 1.57 | 0.76 | 0.08(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.65 | 0.71 | 0.73 | 0.69 | 0.67(c) |
Expenses after expense reductions (f) | 0.05 | 0.49 | 0.72 | 0.68 | 0.52(c) |
Net investment income (loss) | 0.00 | 0.54 | 1.57 | 0.74 | 0.08(c) |
Net assets at end of period (000 omitted) | $2,676 | $2,709 | $2,676 | $2,729 | $3,250 |
Class R6 | Year ended | ||
8/31/21 | 8/31/20 | 8/31/19(i) | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||
Net investment income (loss) (d) | $0.00 | $0.00(w) | $0.02 |
Net realized and unrealized gain (loss) | 0.00(w) | 0.00(w) | 0.00(w) |
Total from investment operations | $0.00(w) | $0.00(w) | $0.02 |
Less distributions declared to shareholders | |||
From net investment income | $— | $(0.00)(w) | $(0.02) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 0.00 | 0.58 | 1.58(n) |
Ratios (%) (to average net assets) and Supplemental data: | |||
Expenses before expense reductions (f) | 0.59 | 0.65 | 0.66(a) |
Expenses after expense reductions (f) | 0.05 | 0.42 | 0.65(a) |
Net investment income (loss) | 0.00 | 0.46 | 1.65(a) |
Net assets at end of period (000 omitted) | $113 | $113 | $54 |
Class 529A | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.00 | $0.00(w) | $0.02 | $0.01 | $0.00(c)(w) |
Net realized and unrealized gain (loss) | 0.00(w) | 0.00(w) | 0.00(w) | — | (0.00)(w) |
Total from investment operations | $0.00(w) | $0.00(w) | $0.02 | $0.01 | $0.00(w) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.00)(w) | $(0.02) | $(0.01) | $(0.00)(w) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 0.00 | 0.51 | 1.53 | 0.71 | 0.06(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.95 | 1.01 | 1.03 | 1.00 | 1.01(c) |
Expenses after expense reductions (f) | 0.05 | 0.47 | 0.77 | 0.73 | 0.53(c) |
Net investment income (loss) | 0.00 | 0.44 | 1.52 | 0.73 | 0.06(c) |
Net assets at end of period (000 omitted) | $27,919 | $28,695 | $19,061 | $15,197 | $13,208 |
Class 529B | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.00 | $0.01 | $0.02 | $0.01 | $0.00(c)(w) |
Net realized and unrealized gain (loss) | 0.00(w) | 0.00(w) | 0.00(w) | — | (0.00)(w) |
Total from investment operations | $0.00(w) | $0.01 | $0.02 | $0.01 | $0.00(w) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.01) | $(0.02) | $(0.01) | $(0.00)(w) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 0.00 | 0.51 | 1.53 | 0.71 | 0.06(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.71 | 1.76 | 1.78 | 1.75 | 1.76(c) |
Expenses after expense reductions (f) | 0.05 | 0.53 | 0.77 | 0.73 | 0.53(c) |
Net investment income (loss) | 0.00 | 0.53 | 1.51 | 0.71 | 0.06(c) |
Net assets at end of period (000 omitted) | $182 | $183 | $247 | $293 | $348 |
Class 529C | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.00 | $0.00(w) | $0.02 | $0.01 | $0.00(c)(w) |
Net realized and unrealized gain (loss) | 0.00(w) | 0.00(w) | 0.00(w) | — | (0.00)(w) |
Total from investment operations | $0.00(w) | $0.00(w) | $0.02 | $0.01 | $0.00(w) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $(0.00)(w) | $(0.02) | $(0.01) | $(0.00)(w) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 0.00 | 0.51 | 1.53 | 0.71 | 0.06(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.71 | 1.76 | 1.78 | 1.75 | 1.76(c) |
Expenses after expense reductions (f) | 0.05 | 0.49 | 0.77 | 0.73 | 0.54(c) |
Net investment income (loss) | 0.00 | 0.46 | 1.52 | 0.70 | 0.06(c) |
Net assets at end of period (000 omitted) | $6,062 | $8,360 | $6,437 | $6,419 | $6,957 |
(a) | Annualized. |
(c) | Amount reflects a one-time reimbursement of expenses by the custodian (or former custodian) without which net investment income and performance would be lower and expenses would be higher. |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. |
(i) | For Class I and Class R6, the period is from the class inception, September 18, 2018, through the stated period end. |
(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 and total return or ratio was less than 0.01%, as applicable. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
Short-Term Securities | $— | $265,672,771 | $— | $265,672,771 |
Year ended 8/31/21 | Year ended 8/31/20 | |
Ordinary income (including any short-term capital gains) | $— | $1,106,667 |
As of 8/31/21 | |
Cost of investments | $265,672,771 |
Undistributed ordinary income | 34,282 |
Other temporary differences | (3,949) |
Total distributable earnings (loss) | $ 30,333 |
Year ended 8/31/21 | Year ended 8/31/20 | |
Class A | $— | $526,766 |
Class B | — | 46,026 |
Class C | — | 96,350 |
Class I | — | 1,357 |
Class R1 | — | 40,645 |
Class R2 | — | 160,346 |
Class R3 | — | 83,166 |
Class R4 | — | 14,581 |
Class R6 | — | 431 |
Class 529A | — | 102,419 |
Class 529B | — | 1,227 |
Class 529C | — | 33,353 |
Total | $— | $1,106,667 |
Up to $1 billion | 0.40% |
In excess of $1 billion | 0.35% |
Classes | |||||||||||
A | B | C | I | R1 | R2 | R3 | R4 | R6 | 529A | 529B | 529C |
0.45% | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% | 0.37% | 0.50% | 0.50% | 0.50% |
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% | 0.00% | $ 373,094 |
Class B | 0.75% | 0.25% | 1.00% | 0.00% | 87,703 |
Class C | 0.75% | 0.25% | 1.00% | 0.00% | 273,275 |
Class R1 | 0.75% | 0.25% | 1.00% | 0.00% | 93,840 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.00% | 151,442 |
Class R3 | — | 0.25% | 0.25% | 0.00% | 53,567 |
Class 529A | — | 0.25% | 0.25% | 0.00% | 74,026 |
Class 529B | 0.75% | 0.25% | 1.00% | 0.00% | 2,309 |
Class 529C | 0.75% | 0.25% | 1.00% | 0.00% | 71,400 |
Total Distribution and Service Fees | $1,180,656 |
(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 year ended August 31, 2021 based on each class's average daily net assets. MFD has agreed in writing to waive any distribution and/or service fees for Class A, Class B, Class C, Class R1, Class R2, Class R3, Class 529A, Class 529B, and Class 529C. This written agreement will continue until modified by the fund’s Board of Trustees, but such agreement will continue until at least December 31, 2022. These reductions, for the year ended August 31,2021, for |
Amount | |
Class A | $4,831 |
Class B | 15,958 |
Class C | 8,405 |
Class 529B | 30 |
Class 529C | 758 |
Fee | Waiver | |
Class 529A | $14,805 | $14,805 |
Class 529B | 116 | 116 |
Class 529C | 3,570 | 3,570 |
Total Program Manager Fees and Waivers | $18,491 | $18,491 |
Year ended 8/31/21 | Year ended 8/31/20 | ||
Shares sold | |||
Class A | 97,787,393 | 122,940,202 | |
Class B | 4,831,542 | 8,381,554 | |
Class C | 19,196,047 | 41,843,235 | |
Class I | 8,377,442 | 11,753,483 | |
Class R1 | 6,051,818 | 4,897,312 | |
Class R2 | 9,662,586 | 22,199,048 | |
Class R3 | 11,062,318 | 17,768,905 | |
Class R4 | 6,597 | 39,778 | |
Class R6 | 436 | 64,875 | |
Class 529A | 13,853,558 | 20,385,658 | |
Class 529B | 124,416 | 141,050 | |
Class 529C | 3,513,764 | 6,623,904 | |
174,467,917 | 257,039,004 | ||
Shares issued to shareholders in reinvestment of distributions | |||
Class A | — | 511,320 | |
Class B | — | 43,246 | |
Class C | — | 92,098 | |
Class I | — | 1,248 | |
Class R1 | — | 40,600 | |
Class R2 | — | 160,346 | |
Class R3 | — | 83,166 | |
Class R4 | — | 14,581 | |
Class R6 | — | 431 | |
Class 529A | — | 101,802 | |
Class 529B | — | 1,207 | |
Class 529C | — | 33,129 | |
— | 1,083,174 |
Year ended 8/31/21 | Year ended 8/31/20 | ||
Shares reacquired | |||
Class A | (109,743,581) | (82,537,454) | |
Class B | (7,568,950) | (7,876,811) | |
Class C | (29,965,240) | (26,859,099) | |
Class I | (5,352,725) | (2,006,406) | |
Class R1 | (6,499,432) | (3,341,014) | |
Class R2 | (16,912,492) | (20,364,536) | |
Class R3 | (14,334,675) | (9,786,066) | |
Class R4 | (39,756) | (22,746) | |
Class R6 | (549) | (7,061) | |
Class 529A | (14,630,123) | (10,851,883) | |
Class 529B | (125,318) | (206,442) | |
Class 529C | (5,813,050) | (4,735,617) | |
(210,985,891) | (168,595,135) | ||
Net change | |||
Class A | (11,956,188) | 40,914,068 | |
Class B | (2,737,408) | 547,989 | |
Class C | (10,769,193) | 15,076,234 | |
Class I | 3,024,717 | 9,748,325 | |
Class R1 | (447,614) | 1,596,898 | |
Class R2 | (7,249,906) | 1,994,858 | |
Class R3 | (3,272,357) | 8,066,005 | |
Class R4 | (33,159) | 31,613 | |
Class R6 | (113) | 58,245 | |
Class 529A | (776,565) | 9,635,577 | |
Class 529B | (902) | (64,185) | |
Class 529C | (2,299,286) | 1,921,416 | |
(36,517,974) | 89,527,043 |
October 15, 2021
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEES | ||||||||||
Robert J. Manning (k) (age 57) | Trustee | February 2004 | 136 | Massachusetts Financial Services Company, Non-Executive Chairman (since January 2021); Director; Chairman of the Board; Executive Chairman (January 2017-2020); Co-Chief Executive Officer (2015-2016) | N/A | |||||
Michael W. Roberge (k) (age 55) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; President (until December 2018); Chief Investment Officer (until December 2018); Co-Chief Executive Officer (until December 2016) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 66) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 70) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 67) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 66) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 66) | Trustee | January 2019 | 136 | Private investor | N/A |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
James W. Kilman, Jr. (age 60) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016); Morgan Stanley & Co. (financial services), Vice Chairman of Investment Banking, Co-Head of Diversified Financials Coverage – Financial Institutions Investment Banking Group (until 2016) | Alpha-En Corporation, Director (2016-2019) | |||||
Clarence Otis, Jr. (age 65) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 65) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 64) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 47) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Associate General Counsel | ||||
Kino Clark (k) (age 53) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
John W. Clark, Jr. (k) (age 54) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President (since March 2017); Deutsche Bank (financial services), Department Head - Treasurer's Office (until February 2017) | ||||
Thomas H. Connors (k) (age 62) | Assistant Secretary and Assistant Clerk | September 2012 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
David L. DiLorenzo (k) (age 53) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 54) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel (since March 2017); Harris Associates (investment management), General Counsel (until January 2017) | ||||
Brian E. Langenfeld (k) (age 48) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
Amanda S. Mooradian (k) (age 42) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 50) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Kasey L. Phillips (k) (age 50) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 46) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Martin J. Wolin (k) (age 54) | Chief Compliance Officer | July 2015 | 136 | Massachusetts Financial Services Company, Senior Vice President and Chief Compliance Officer |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
James O. Yost (k) (age 61) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. For the period from December 15, 2004 until February 22, 2005, Mr. Manning served as Advisory Trustee. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | State Street Bank and Trust Company 1 Lincoln Street Boston, MA 02111-2900 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Deloitte & Touche LLP 200 Berkeley Street Boston, MA 02116 |
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
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back cover |
JPMorgan Chase & Co. | 4.3% |
Johnson & Johnson | 3.5% |
Comcast Corp., ���A” | 3.2% |
Accenture PLC, “A” | 2.8% |
Aon PLC | 2.6% |
Honeywell International, Inc. | 2.6% |
Medtronic PLC | 2.6% |
Texas Instruments, Inc. | 2.5% |
Chubb Ltd. | 2.1% |
Marsh & McLennan Cos., Inc. | 2.1% |
Financials | 28.2% |
Health Care | 18.5% |
Industrials | 18.1% |
Information Technology | 9.4% |
Consumer Staples | 6.8% |
Utilities | 6.3% |
Materials | 3.9% |
Communication Services | 3.2% |
Energy | 2.1% |
Consumer Discretionary | 1.8% |
Real Estate | 0.4% |
(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. |
(b) | Security is not a benchmark constituent. |
(h) | Security was not held in the portfolio at period end. |
Share Class | Class Inception Date | 1-yr | 5-yr | 10-yr |
A | 1/02/96 | 32.85% | 11.98% | 13.24% |
B | 11/04/97 | 31.87% | 11.15% | 12.39% |
C | 11/05/97 | 31.86% | 11.15% | 12.39% |
I | 1/02/97 | 33.20% | 12.27% | 13.52% |
R1 | 4/01/05 | 31.88% | 11.14% | 12.39% |
R2 | 10/31/03 | 32.53% | 11.70% | 12.95% |
R3 | 4/01/05 | 32.85% | 11.98% | 13.23% |
R4 | 4/01/05 | 33.20% | 12.27% | 13.52% |
R6 | 5/01/06 | 33.33% | 12.38% | 13.63% |
529A | 7/31/02 | 32.83% | 11.96% | 13.22% |
529B | 7/31/02 | 32.82% | 11.69% | 12.69% |
529C | 7/31/02 | 31.82% | 11.09% | 12.34% |
Russell 1000® Value Index (f) | 36.44% | 11.68% | 13.03% |
A With Initial Sales Charge (5.75%) | 25.21% | 10.66% | 12.57% |
B With CDSC (Declining over six years from 4% to 0%) (v) | 27.87% | 10.89% | 12.39% |
C With CDSC (1% for 12 months) (v) | 30.86% | 11.15% | 12.39% |
529A With Initial Sales Charge (5.75%) | 25.20% | 10.64% | 12.55% |
529B With CDSC (Declining over six years from 4% to 0%) (v) | 28.82% | 11.44% | 12.69% |
529C With CDSC (1% for 12 months) (v) | 30.82% | 11.09% | 12.34% |
(f) | Source: FactSet Research Systems Inc. |
(v) | Assuming redemption at the end of the applicable period. |
(h) | Frank Russell Company (“Russell”) is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and/or Russell ratings or underlying data and no party may rely on any Russell Indexes and/or Russell ratings and/or underlying data contained in this document. No further distribution of Russell Data is permitted without Russell's express written consent. Russell does not promote, sponsor, or endorse the content of this document. |
March 1, 2021 through August 31, 2021
Share Class | Annualized Expense Ratio | Beginning Account Value 3/01/21 | Ending Account Value 8/31/21 | Expenses Paid During Period (p) 3/01/21-8/31/21 | |
A | Actual | 0.78% | $1,000.00 | $1,179.71 | $4.29 |
Hypothetical (h) | 0.78% | $1,000.00 | $1,021.27 | $3.97 | |
B | Actual | 1.53% | $1,000.00 | $1,175.53 | $8.39 |
Hypothetical (h) | 1.53% | $1,000.00 | $1,017.49 | $7.78 | |
C | Actual | 1.53% | $1,000.00 | $1,175.39 | $8.39 |
Hypothetical (h) | 1.53% | $1,000.00 | $1,017.49 | $7.78 | |
I | Actual | 0.53% | $1,000.00 | $1,181.39 | $2.91 |
Hypothetical (h) | 0.53% | $1,000.00 | $1,022.53 | $2.70 | |
R1 | Actual | 1.53% | $1,000.00 | $1,175.43 | $8.39 |
Hypothetical (h) | 1.53% | $1,000.00 | $1,017.49 | $7.78 | |
R2 | Actual | 1.03% | $1,000.00 | $1,178.43 | $5.66 |
Hypothetical (h) | 1.03% | $1,000.00 | $1,020.01 | $5.24 | |
R3 | Actual | 0.78% | $1,000.00 | $1,179.88 | $4.29 |
Hypothetical (h) | 0.78% | $1,000.00 | $1,021.27 | $3.97 | |
R4 | Actual | 0.53% | $1,000.00 | $1,181.39 | $2.91 |
Hypothetical (h) | 0.53% | $1,000.00 | $1,022.53 | $2.70 | |
R6 | Actual | 0.43% | $1,000.00 | $1,181.83 | $2.36 |
Hypothetical (h) | 0.43% | $1,000.00 | $1,023.04 | $2.19 | |
529A | Actual | 0.80% | $1,000.00 | $1,179.74 | $4.40 |
Hypothetical (h) | 0.80% | $1,000.00 | $1,021.17 | $4.08 | |
529B | Actual | 0.82% | $1,000.00 | $1,179.62 | $4.50 |
Hypothetical (h) | 0.82% | $1,000.00 | $1,021.07 | $4.18 | |
529C | Actual | 1.58% | $1,000.00 | $1,175.29 | $8.66 |
Hypothetical (h) | 1.58% | $1,000.00 | $1,017.24 | $8.03 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 98.7% | ||||
Aerospace & Defense – 6.2% | ||||
Honeywell International, Inc. | 7,265,036 | $ 1,684,834,499 | ||
Lockheed Martin Corp. | 1,476,886 | 531,383,583 | ||
Northrop Grumman Corp. | 3,664,659 | 1,347,495,114 | ||
Raytheon Technologies Corp. | 5,895,821 | 499,729,788 | ||
$4,063,442,984 | ||||
Alcoholic Beverages – 1.4% | ||||
Diageo PLC | 19,540,269 | $ 938,661,059 | ||
Brokerage & Asset Managers – 3.7% | ||||
BlackRock, Inc. | 1,098,700 | $ 1,036,392,723 | ||
NASDAQ, Inc. | 5,846,579 | 1,144,643,236 | ||
T. Rowe Price Group, Inc. | 1,188,786 | 266,133,522 | ||
$2,447,169,481 | ||||
Business Services – 5.9% | ||||
Accenture PLC, “A” | 5,528,524 | $ 1,860,680,038 | ||
Equifax, Inc. | 3,130,997 | 852,445,243 | ||
Fidelity National Information Services, Inc. | 5,037,259 | 643,610,582 | ||
Fiserv, Inc. (a) | 4,338,772 | 511,063,954 | ||
$3,867,799,817 | ||||
Cable TV – 3.2% | ||||
Comcast Corp., “A” | 34,887,602 | $ 2,116,979,689 | ||
Chemicals – 1.7% | ||||
PPG Industries, Inc. | 6,793,344 | $ 1,083,878,035 | ||
Construction – 3.4% | ||||
Masco Corp. | 8,036,738 | $ 487,990,731 | ||
Otis Worldwide Corp. | 2,521,203 | 232,505,341 | ||
Sherwin-Williams Co. | 2,695,941 | 818,676,403 | ||
Stanley Black & Decker, Inc. | 3,642,743 | 704,032,940 | ||
$2,243,205,415 | ||||
Consumer Products – 2.2% | ||||
Colgate-Palmolive Co. | 5,689,044 | $ 443,460,980 | ||
International Flavors & Fragrances, Inc. | 979,034 | 148,323,651 | ||
Kimberly-Clark Corp. | 3,990,315 | 549,905,310 | ||
Reckitt Benckiser Group PLC | 3,928,162 | 299,141,122 | ||
$1,440,831,063 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Electrical Equipment – 1.5% | ||||
Johnson Controls International PLC | 13,021,923 | $ 974,039,840 | ||
Electronics – 4.8% | ||||
Analog Devices, Inc. | 2,853,783 | $ 465,023,940 | ||
Intel Corp. | 9,069,539 | 490,299,279 | ||
NXP Semiconductors N.V. | 2,670,486 | 574,501,653 | ||
Texas Instruments, Inc. | 8,523,009 | 1,627,127,648 | ||
$3,156,952,520 | ||||
Energy - Independent – 1.6% | ||||
ConocoPhillips | 8,632,007 | $ 479,335,349 | ||
EOG Resources, Inc. | 4,533,428 | 306,097,058 | ||
Pioneer Natural Resources Co. | 1,913,752 | 286,431,262 | ||
$1,071,863,669 | ||||
Energy - Integrated – 0.5% | ||||
Chevron Corp. | 3,244,061 | $ 313,927,783 | ||
Food & Beverages – 2.9% | ||||
Archer Daniels Midland Co. | 3,681,787 | $ 220,907,220 | ||
J.M. Smucker Co. | 1,259,154 | 155,719,575 | ||
Nestle S.A. | 8,228,697 | 1,040,010,255 | ||
PepsiCo, Inc. | 3,183,502 | 497,867,878 | ||
$1,914,504,928 | ||||
Gaming & Lodging – 0.3% | ||||
Marriott International, Inc., “A” (a) | 1,557,666 | $ 210,502,983 | ||
Health Maintenance Organizations – 1.9% | ||||
Cigna Corp. | 5,725,900 | $ 1,211,886,735 | ||
Insurance – 9.7% | ||||
Aon PLC | 5,938,266 | $ 1,703,450,985 | ||
Chubb Ltd. | 7,556,110 | 1,389,719,751 | ||
Marsh & McLennan Cos., Inc. | 8,693,257 | 1,366,580,001 | ||
Progressive Corp. | 11,226,089 | 1,081,521,414 | ||
Travelers Cos., Inc. | 5,198,093 | 830,187,433 | ||
$6,371,459,584 | ||||
Machinery & Tools – 4.9% | ||||
Eaton Corp. PLC | 6,725,410 | $ 1,132,290,028 | ||
Illinois Tool Works, Inc. | 4,694,200 | 1,093,091,412 | ||
PACCAR, Inc. | 1,832,031 | 149,988,378 | ||
Trane Technologies PLC | 4,124,986 | 818,809,721 | ||
$3,194,179,539 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Major Banks – 8.7% | ||||
Goldman Sachs Group, Inc. | 2,087,946 | $ 863,386,550 | ||
JPMorgan Chase & Co. | 17,774,539 | 2,843,037,513 | ||
Morgan Stanley | 11,499,922 | 1,200,936,855 | ||
PNC Financial Services Group, Inc. | 4,266,928 | 815,409,941 | ||
$5,722,770,859 | ||||
Medical & Health Technology & Services – 0.9% | ||||
McKesson Corp. | 2,897,922 | $ 591,581,797 | ||
Medical Equipment – 8.9% | ||||
Abbott Laboratories | 8,514,872 | $ 1,076,024,375 | ||
Boston Scientific Corp. (a) | 14,370,458 | 648,826,179 | ||
Danaher Corp. | 3,552,378 | 1,151,538,852 | ||
Medtronic PLC | 12,559,225 | 1,676,405,353 | ||
Thermo Fisher Scientific, Inc. | 2,239,406 | 1,242,758,360 | ||
$5,795,553,119 | ||||
Other Banks & Diversified Financials – 6.0% | ||||
American Express Co. | 6,176,466 | $ 1,025,046,297 | ||
Citigroup, Inc. | 17,976,275 | 1,292,673,935 | ||
Moody's Corp. | 854,501 | 325,368,346 | ||
Truist Financial Corp. | 8,736,766 | 498,519,868 | ||
U.S. Bancorp | 13,616,984 | 781,478,712 | ||
$3,923,087,158 | ||||
Pharmaceuticals – 6.9% | ||||
Johnson & Johnson | 13,342,936 | $ 2,310,062,510 | ||
Merck & Co., Inc. | 10,295,954 | 785,478,331 | ||
Organon & Co. | 1,029,595 | 34,892,974 | ||
Pfizer, Inc. | 24,340,052 | 1,121,346,195 | ||
Roche Holding AG | 564,650 | 226,754,068 | ||
$4,478,534,078 | ||||
Railroad & Shipping – 2.1% | ||||
Canadian National Railway Co. | 3,224,776 | $ 379,330,401 | ||
Union Pacific Corp. | 4,548,674 | 986,334,470 | ||
$1,365,664,871 | ||||
Real Estate – 0.4% | ||||
Public Storage, Inc., REIT | 833,539 | $ 269,741,556 | ||
Specialty Chemicals – 0.7% | ||||
DuPont de Nemours, Inc. | 6,468,192 | $ 478,775,572 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Specialty Stores – 1.5% | ||||
Lowe's Cos., Inc. | 4,709,127 | $ 960,143,904 | ||
Tobacco – 0.5% | ||||
Philip Morris International, Inc. | 3,164,047 | $ 325,896,841 | ||
Utilities - Electric Power – 6.3% | ||||
American Electric Power Co., Inc. | 5,182,839 | $ 464,226,889 | ||
Dominion Energy, Inc. | 11,788,794 | 917,639,725 | ||
Duke Energy Corp. | 13,054,233 | 1,366,256,026 | ||
Southern Co. | 16,156,464 | 1,061,964,379 | ||
Xcel Energy, Inc. | 4,544,843 | 312,457,956 | ||
$4,122,544,975 | ||||
Total Common Stocks (Identified Cost, $32,000,530,063) | $64,655,579,854 | |||
Investment Companies (h) – 1.0% | ||||
Money Market Funds – 1.0% | ||||
MFS Institutional Money Market Portfolio, 0.04% (v) (Identified Cost, $658,689,844) | 658,689,844 | $ 658,689,844 | ||
Other Assets, Less Liabilities – 0.3% | 178,168,072 | |||
Net Assets – 100.0% | $65,492,437,770 |
(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 $658,689,844 and $64,655,579,854, respectively. | |||
(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 (identified cost, $32,000,530,063) | $64,655,579,854 |
Investments in affiliated issuers, at value (identified cost, $658,689,844) | 658,689,844 |
Cash | 410 |
Receivables for | |
Investments sold | 55,286,117 |
Fund shares sold | 66,240,355 |
Dividends | 154,511,142 |
Other assets | 30,535 |
Total assets | $65,590,338,257 |
Liabilities | |
Payables for | |
Investments purchased | $33,252,829 |
Fund shares reacquired | 53,056,864 |
Payable to affiliates | |
Investment adviser | 1,480,934 |
Administrative services fee | 3,089 |
Shareholder servicing costs | 8,180,380 |
Distribution and service fees | 206,706 |
Program manager fees | 122 |
Payable for independent Trustees' compensation | 99 |
Accrued expenses and other liabilities | 1,719,464 |
Total liabilities | $97,900,487 |
Net assets | $65,492,437,770 |
Net assets consist of | |
Paid-in capital | $31,768,902,445 |
Total distributable earnings (loss) | 33,723,535,325 |
Net assets | $65,492,437,770 |
Shares of beneficial interest outstanding | 1,219,067,495 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $8,523,158,255 | 159,000,669 | $53.60 |
Class B | 52,832,798 | 989,772 | 53.38 |
Class C | 686,441,657 | 12,965,592 | 52.94 |
Class I | 27,444,958,508 | 508,795,204 | 53.94 |
Class R1 | 20,580,226 | 392,194 | 52.47 |
Class R2 | 409,939,234 | 7,732,989 | 53.01 |
Class R3 | 2,774,354,844 | 51,978,942 | 53.37 |
Class R4 | 2,625,507,916 | 48,974,765 | 53.61 |
Class R6 | 22,910,206,924 | 427,398,789 | 53.60 |
Class 529A | 39,753,881 | 748,520 | 53.11 |
Class 529B | 479,037 | 9,117 | 52.54 |
Class 529C | 4,224,490 | 80,942 | 52.19 |
(a) | Maximum offering price per share was equal to the net asset value per share for all share classes, except for Classes A and 529A, for which the maximum offering prices per share were $56.87 [100 / 94.25 x $53.60] and $56.35 [100 / 94.25 x $53.11], respectively. On sales of $50,000 or more, the maximum offering prices of Class A and Class 529A shares are reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, Class C, Class 529B, and Class 529C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, R6, and 529A. |
Net investment income (loss) | |
Income | |
Dividends | $1,170,317,779 |
Other | 666,834 |
Income on securities loaned | 567,125 |
Dividends from affiliated issuers | 394,185 |
Foreign taxes withheld | (6,907,328) |
Total investment income | $1,165,038,595 |
Expenses | |
Management fee | $250,560,140 |
Distribution and service fees | 33,905,799 |
Shareholder servicing costs | 40,679,211 |
Program manager fees | 19,184 |
Administrative services fee | 552,301 |
Independent Trustees' compensation | 124,254 |
Custodian fee | 675,122 |
Shareholder communications | 1,723,534 |
Audit and tax fees | 444,251 |
Legal fees | 342,345 |
Miscellaneous | 1,405,783 |
Total expenses | $330,431,924 |
Reduction of expenses by investment adviser and distributor | (6,803,127) |
Net expenses | $323,628,797 |
Net investment income (loss) | $841,409,798 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $1,155,276,935 |
Foreign currency | (558,770) |
Net realized gain (loss) | $1,154,718,165 |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers | $14,298,994,607 |
Translation of assets and liabilities in foreign currencies | (668,862) |
Net unrealized gain (loss) | $14,298,325,745 |
Net realized and unrealized gain (loss) | $15,453,043,910 |
Change in net assets from operations | $16,294,453,708 |
Year ended | ||
8/31/21 | 8/31/20 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $841,409,798 | $844,373,433 |
Net realized gain (loss) | 1,154,718,165 | 690,082,416 |
Net unrealized gain (loss) | 14,298,325,745 | 102,621,554 |
Change in net assets from operations | $16,294,453,708 | $1,637,077,403 |
Total distributions to shareholders | $(1,398,636,931) | $(1,492,986,929) |
Change in net assets from fund share transactions | $1,471,547,469 | $1,196,891,687 |
Total change in net assets | $16,367,364,246 | $1,340,982,161 |
Net assets | ||
At beginning of period | 49,125,073,524 | 47,784,091,363 |
At end of period | $65,492,437,770 | $49,125,073,524 |
Class A | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $41.31 | $41.31 | $40.82 | $39.00 | $35.93 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.59 | $0.63 | $0.79 | $0.59 | $0.66(c) |
Net realized and unrealized gain (loss) | 12.77 | 0.57 | 1.03 | 3.04 | 3.65 |
Total from investment operations | $13.36 | $1.20 | $1.82 | $3.63 | $4.31 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.60) | $(0.65) | $(0.79) | $(0.60) | $(0.62) |
From net realized gain | (0.47) | (0.55) | (0.54) | (1.21) | (0.62) |
Total distributions declared to shareholders | $(1.07) | $(1.20) | $(1.33) | $(1.81) | $(1.24) |
Net asset value, end of period (x) | $53.60 | $41.31 | $41.31 | $40.82 | $39.00 |
Total return (%) (r)(s)(t)(x) | 32.85 | 2.93 | 4.85 | 9.42 | 12.24(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.80 | 0.83 | 0.83 | 0.82 | 0.86(c) |
Expenses after expense reductions (f) | 0.79 | 0.82 | 0.82 | 0.81 | 0.84(c) |
Net investment income (loss) | 1.25 | 1.56 | 2.00 | 1.46 | 1.77(c) |
Portfolio turnover | 8 | 16 | 11 | 11 | 14 |
Net assets at end of period (000 omitted) | $8,523,158 | $6,460,837 | $6,520,132 | $6,736,296 | $6,344,965 |
Class B | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $41.12 | $41.09 | $40.59 | $38.76 | $35.72 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.23 | $0.32 | $0.49 | $0.28 | $0.37(c) |
Net realized and unrealized gain (loss) | 12.74 | 0.58 | 1.03 | 3.04 | 3.64 |
Total from investment operations | $12.97 | $0.90 | $1.52 | $3.32 | $4.01 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.24) | $(0.32) | $(0.48) | $(0.28) | $(0.35) |
From net realized gain | (0.47) | (0.55) | (0.54) | (1.21) | (0.62) |
Total distributions declared to shareholders | $(0.71) | $(0.87) | $(1.02) | $(1.49) | $(0.97) |
Net asset value, end of period (x) | $53.38 | $41.12 | $41.09 | $40.59 | $38.76 |
Total return (%) (r)(s)(t)(x) | 31.87 | 2.15 | 4.08 | 8.62 | 11.40(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.55 | 1.58 | 1.58 | 1.57 | 1.61(c) |
Expenses after expense reductions (f) | 1.54 | 1.56 | 1.57 | 1.56 | 1.59(c) |
Net investment income (loss) | 0.50 | 0.79 | 1.24 | 0.71 | 0.99(c) |
Portfolio turnover | 8 | 16 | 11 | 11 | 14 |
Net assets at end of period (000 omitted) | $52,833 | $55,897 | $84,737 | $111,494 | $137,361 |
Class C | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $40.80 | $40.80 | $40.31 | $38.52 | $35.50 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.23 | $0.32 | $0.49 | $0.28 | $0.37(c) |
Net realized and unrealized gain (loss) | 12.63 | 0.56 | 1.03 | 3.01 | 3.62 |
Total from investment operations | $12.86 | $0.88 | $1.52 | $3.29 | $3.99 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.25) | $(0.33) | $(0.49) | $(0.29) | $(0.35) |
From net realized gain | (0.47) | (0.55) | (0.54) | (1.21) | (0.62) |
Total distributions declared to shareholders | $(0.72) | $(0.88) | $(1.03) | $(1.50) | $(0.97) |
Net asset value, end of period (x) | $52.94 | $40.80 | $40.80 | $40.31 | $38.52 |
Total return (%) (r)(s)(t)(x) | 31.86 | 2.14 | 4.10 | 8.58 | 11.43(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.55 | 1.58 | 1.58 | 1.57 | 1.61(c) |
Expenses after expense reductions (f) | 1.54 | 1.57 | 1.57 | 1.56 | 1.59(c) |
Net investment income (loss) | 0.50 | 0.80 | 1.24 | 0.71 | 0.99(c) |
Portfolio turnover | 8 | 16 | 11 | 11 | 14 |
Net assets at end of period (000 omitted) | $686,442 | $650,697 | $881,020 | $1,050,477 | $1,389,685 |
Class I | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $41.56 | $41.56 | $41.06 | $39.22 | $36.13 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.71 | $0.74 | $0.90 | $0.70 | $0.74(c) |
Net realized and unrealized gain (loss) | 12.85 | 0.56 | 1.02 | 3.05 | 3.70 |
Total from investment operations | $13.56 | $1.30 | $1.92 | $3.75 | $4.44 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.71) | $(0.75) | $(0.88) | $(0.70) | $(0.73) |
From net realized gain | (0.47) | (0.55) | (0.54) | (1.21) | (0.62) |
Total distributions declared to shareholders | $(1.18) | $(1.30) | $(1.42) | $(1.91) | $(1.35) |
Net asset value, end of period (x) | $53.94 | $41.56 | $41.56 | $41.06 | $39.22 |
Total return (%) (r)(s)(t)(x) | 33.20 | 3.18 | 5.11 | 9.69 | 12.54(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.55 | 0.58 | 0.58 | 0.57 | 0.61(c) |
Expenses after expense reductions (f) | 0.54 | 0.57 | 0.57 | 0.57 | 0.59(c) |
Net investment income (loss) | 1.50 | 1.81 | 2.25 | 1.72 | 1.98(c) |
Portfolio turnover | 8 | 16 | 11 | 11 | 14 |
Net assets at end of period (000 omitted) | $27,444,959 | $21,027,882 | $20,076,773 | $20,727,676 | $19,624,016 |
Class R1 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $40.45 | $40.47 | $40.01 | $38.25 | $35.27 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.23 | $0.32 | $0.48 | $0.28 | $0.36(c) |
Net realized and unrealized gain (loss) | 12.52 | 0.55 | 1.02 | 2.99 | 3.60 |
Total from investment operations | $12.75 | $0.87 | $1.50 | $3.27 | $3.96 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.26) | $(0.34) | $(0.50) | $(0.30) | $(0.36) |
From net realized gain | (0.47) | (0.55) | (0.54) | (1.21) | (0.62) |
Total distributions declared to shareholders | $(0.73) | $(0.89) | $(1.04) | $(1.51) | $(0.98) |
Net asset value, end of period (x) | $52.47 | $40.45 | $40.47 | $40.01 | $38.25 |
Total return (%) (r)(s)(t)(x) | 31.88 | 2.13 | 4.08 | 8.61 | 11.40(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.55 | 1.58 | 1.58 | 1.57 | 1.61(c) |
Expenses after expense reductions (f) | 1.54 | 1.57 | 1.57 | 1.56 | 1.59(c) |
Net investment income (loss) | 0.50 | 0.80 | 1.24 | 0.72 | 0.99(c) |
Portfolio turnover | 8 | 16 | 11 | 11 | 14 |
Net assets at end of period (000 omitted) | $20,580 | $18,914 | $21,820 | $24,791 | $26,663 |
Class R2 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $40.86 | $40.87 | $40.39 | $38.60 | $35.59 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.46 | $0.52 | $0.68 | $0.48 | $0.55(c) |
Net realized and unrealized gain (loss) | 12.64 | 0.56 | 1.03 | 3.02 | 3.62 |
Total from investment operations | $13.10 | $1.08 | $1.71 | $3.50 | $4.17 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.48) | $(0.54) | $(0.69) | $(0.50) | $(0.54) |
From net realized gain | (0.47) | (0.55) | (0.54) | (1.21) | (0.62) |
Total distributions declared to shareholders | $(0.95) | $(1.09) | $(1.23) | $(1.71) | $(1.16) |
Net asset value, end of period (x) | $53.01 | $40.86 | $40.87 | $40.39 | $38.60 |
Total return (%) (r)(s)(t)(x) | 32.53 | 2.66 | 4.60 | 9.15 | 11.95(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.05 | 1.08 | 1.08 | 1.07 | 1.11(c) |
Expenses after expense reductions (f) | 1.04 | 1.07 | 1.07 | 1.07 | 1.09(c) |
Net investment income (loss) | 1.00 | 1.30 | 1.73 | 1.21 | 1.49(c) |
Portfolio turnover | 8 | 16 | 11 | 11 | 14 |
Net assets at end of period (000 omitted) | $409,939 | $359,598 | $437,221 | $550,200 | $614,044 |
Class R3 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $41.14 | $41.15 | $40.66 | $38.85 | $35.81 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.59 | $0.63 | $0.79 | $0.59 | $0.65(c) |
Net realized and unrealized gain (loss) | 12.71 | 0.56 | 1.03 | 3.03 | 3.64 |
Total from investment operations | $13.30 | $1.19 | $1.82 | $3.62 | $4.29 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.60) | $(0.65) | $(0.79) | $(0.60) | $(0.63) |
From net realized gain | (0.47) | (0.55) | (0.54) | (1.21) | (0.62) |
Total distributions declared to shareholders | $(1.07) | $(1.20) | $(1.33) | $(1.81) | $(1.25) |
Net asset value, end of period (x) | $53.37 | $41.14 | $41.15 | $40.66 | $38.85 |
Total return (%) (r)(s)(t)(x) | 32.85 | 2.92 | 4.87 | 9.43 | 12.23(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.80 | 0.83 | 0.83 | 0.82 | 0.86(c) |
Expenses after expense reductions (f) | 0.79 | 0.82 | 0.82 | 0.82 | 0.84(c) |
Net investment income (loss) | 1.25 | 1.56 | 1.99 | 1.47 | 1.74(c) |
Portfolio turnover | 8 | 16 | 11 | 11 | 14 |
Net assets at end of period (000 omitted) | $2,774,355 | $2,036,093 | $2,096,743 | $2,259,562 | $2,030,023 |
Class R4 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $41.31 | $41.32 | $40.82 | $39.00 | $35.94 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.70 | $0.73 | $0.89 | $0.69 | $0.74(c) |
Net realized and unrealized gain (loss) | 12.78 | 0.56 | 1.03 | 3.04 | 3.67 |
Total from investment operations | $13.48 | $1.29 | $1.92 | $3.73 | $4.41 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.71) | $(0.75) | $(0.88) | $(0.70) | $(0.73) |
From net realized gain | (0.47) | (0.55) | (0.54) | (1.21) | (0.62) |
Total distributions declared to shareholders | $(1.18) | $(1.30) | $(1.42) | $(1.91) | $(1.35) |
Net asset value, end of period (x) | $53.61 | $41.31 | $41.32 | $40.82 | $39.00 |
Total return (%) (r)(s)(t)(x) | 33.20 | 3.17 | 5.14 | 9.70 | 12.52(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.55 | 0.58 | 0.58 | 0.57 | 0.61(c) |
Expenses after expense reductions (f) | 0.54 | 0.57 | 0.57 | 0.57 | 0.59(c) |
Net investment income (loss) | 1.50 | 1.80 | 2.24 | 1.72 | 1.99(c) |
Portfolio turnover | 8 | 16 | 11 | 11 | 14 |
Net assets at end of period (000 omitted) | $2,625,508 | $2,323,830 | $2,916,674 | $3,201,331 | $3,060,883 |
Class R6 | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $41.31 | $41.32 | $40.83 | $39.01 | $35.94 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.76 | $0.78 | $0.93 | $0.73 | $0.76(c) |
Net realized and unrealized gain (loss) | 12.76 | 0.55 | 1.02 | 3.04 | 3.69 |
Total from investment operations | $13.52 | $1.33 | $1.95 | $3.77 | $4.45 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.76) | $(0.79) | $(0.92) | $(0.74) | $(0.76) |
From net realized gain | (0.47) | (0.55) | (0.54) | (1.21) | (0.62) |
Total distributions declared to shareholders | $(1.23) | $(1.34) | $(1.46) | $(1.95) | $(1.38) |
Net asset value, end of period (x) | $53.60 | $41.31 | $41.32 | $40.83 | $39.01 |
Total return (%) (r)(s)(t)(x) | 33.33 | 3.29 | 5.22 | 9.81 | 12.66(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.45 | 0.47 | 0.48 | 0.47 | 0.51(c) |
Expenses after expense reductions (f) | 0.44 | 0.46 | 0.47 | 0.47 | 0.49(c) |
Net investment income (loss) | 1.60 | 1.92 | 2.35 | 1.83 | 2.04(c) |
Portfolio turnover | 8 | 16 | 11 | 11 | 14 |
Net assets at end of period (000 omitted) | $22,910,207 | $16,158,507 | $14,716,194 | $13,941,823 | $10,957,734 |
Class 529A | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $40.94 | $40.96 | $40.48 | $38.69 | $35.67 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.57 | $0.62 | $0.78 | $0.58 | $0.63(c) |
Net realized and unrealized gain (loss) | 12.66 | 0.55 | 1.02 | 3.02 | 3.64 |
Total from investment operations | $13.23 | $1.17 | $1.80 | $3.60 | $4.27 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.59) | $(0.64) | $(0.78) | $(0.60) | $(0.63) |
From net realized gain | (0.47) | (0.55) | (0.54) | (1.21) | (0.62) |
Total distributions declared to shareholders | $(1.06) | $(1.19) | $(1.32) | $(1.81) | $(1.25) |
Net asset value, end of period (x) | $53.11 | $40.94 | $40.96 | $40.48 | $38.69 |
Total return (%) (r)(s)(t)(x) | 32.83 | 2.89 | 4.85 | 9.40 | 12.21(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.85 | 0.88 | 0.88 | 0.89 | 0.96(c) |
Expenses after expense reductions (f) | 0.81 | 0.84 | 0.84 | 0.83 | 0.85(c) |
Net investment income (loss) | 1.22 | 1.54 | 1.98 | 1.45 | 1.71(c) |
Portfolio turnover | 8 | 16 | 11 | 11 | 14 |
Net assets at end of period (000 omitted) | $39,754 | $28,038 | $27,149 | $25,416 | $22,490 |
Class 529B | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $40.50 | $40.46 | $40.05 | $38.23 | $35.27 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.55 | $0.57 | $0.63 | $0.43 | $0.47(c) |
Net realized and unrealized gain (loss) | 12.53 | 0.55 | 1.00 | 3.00 | 3.61 |
Total from investment operations | $13.08 | $1.12 | $1.63 | $3.43 | $4.08 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.57) | $(0.53) | $(0.68) | $(0.40) | $(0.50) |
From net realized gain | (0.47) | (0.55) | (0.54) | (1.21) | (0.62) |
Total distributions declared to shareholders | $(1.04) | $(1.08) | $(1.22) | $(1.61) | $(1.12) |
Net asset value, end of period (x) | $52.54 | $40.50 | $40.46 | $40.05 | $38.23 |
Total return (%) (r)(s)(t)(x) | 32.82 | 2.79 | 4.46 | 9.05 | 11.78(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.85 | 0.95 | 1.22 | 1.22 | 1.34(c) |
Expenses after expense reductions (f) | 0.84 | 0.94 | 1.20 | 1.19 | 1.26(c) |
Net investment income (loss) | 1.20 | 1.42 | 1.61 | 1.10 | 1.28(c) |
Portfolio turnover | 8 | 16 | 11 | 11 | 14 |
Net assets at end of period (000 omitted) | $479 | $474 | $680 | $835 | $908 |
Class 529C | Year ended | ||||
8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | 8/31/17 | |
Net asset value, beginning of period | $40.24 | $40.26 | $39.81 | $38.07 | $35.11 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.21 | $0.30 | $0.46 | $0.26 | $0.34(c) |
Net realized and unrealized gain (loss) | 12.45 | 0.56 | 1.01 | 2.97 | 3.59 |
Total from investment operations | $12.66 | $0.86 | $1.47 | $3.23 | $3.93 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.24) | $(0.33) | $(0.48) | $(0.28) | $(0.35) |
From net realized gain | (0.47) | (0.55) | (0.54) | (1.21) | (0.62) |
Total distributions declared to shareholders | $(0.71) | $(0.88) | $(1.02) | $(1.49) | $(0.97) |
Net asset value, end of period (x) | $52.19 | $40.24 | $40.26 | $39.81 | $38.07 |
Total return (%) (r)(s)(t)(x) | 31.82 | 2.10 | 4.04 | 8.54 | 11.38(c) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.60 | 1.63 | 1.63 | 1.64 | 1.71(c) |
Expenses after expense reductions (f) | 1.59 | 1.62 | 1.61 | 1.61 | 1.63(c) |
Net investment income (loss) | 0.45 | 0.76 | 1.19 | 0.67 | 0.93(c) |
Portfolio turnover | 8 | 16 | 11 | 11 | 14 |
Net assets at end of period (000 omitted) | $4,224 | $4,308 | $4,947 | $5,320 | $5,924 |
(c) | Amount reflects a one-time reimbursement of expenses by the custodian (or former custodian) without which net investment income and performance would be lower and expenses would be higher. |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. |
(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 | $64,655,579,854 | $— | $— | $64,655,579,854 |
Mutual Funds | 658,689,844 | — | — | 658,689,844 |
Total | $65,314,269,698 | $— | $— | $65,314,269,698 |
Year ended 8/31/21 | Year ended 8/31/20 | |
Ordinary income (including any short-term capital gains) | $845,025,639 | $856,724,783 |
Long-term capital gains | 553,611,292 | 636,262,146 |
Total distributions | $1,398,636,931 | $1,492,986,929 |
As of 8/31/21 | |
Cost of investments | $32,748,503,325 |
Gross appreciation | 32,684,753,364 |
Gross depreciation | (118,986,991) |
Net unrealized appreciation (depreciation) | $32,565,766,373 |
Undistributed ordinary income | 160,427,763 |
Undistributed long-term capital gain | 995,763,961 |
Other temporary differences | 1,577,228 |
Total distributable earnings (loss) | $33,723,535,325 |
Year ended 8/31/21 | Year ended 8/31/20 | ||
Class A | $166,686,442 | $189,343,734 | |
Class B | 854,581 | 1,608,077 | |
Class C | 10,645,760 | 18,063,688 | |
Class I | 599,084,638 | 633,742,213 | |
Class R1 | 324,628 | 439,617 | |
Class R2 | 7,992,962 | 10,736,209 | |
Class R3 | 52,802,673 | 61,144,148 | |
Class R4 | 63,308,969 | 84,606,489 | |
Class R6 | 496,112,338 | 492,370,052 | |
Class 529A | 740,732 | 806,572 | |
Class 529B | 11,656 | 16,333 | |
Class 529C | 71,552 | 109,797 | |
Total | $1,398,636,931 | $1,492,986,929 |
Up to $7.5 billion | 0.60% |
In excess of $7.5 billion and up to $10 billion | 0.53% |
In excess of $10 billion and up to $20 billion | 0.50% |
In excess of $20 billion and up to $25 billion | 0.45% |
In excess of $25 billion and up to $30 billion | 0.42% |
In excess of $30 billion and up to $35 billion | 0.40% |
In excess of $35 billion and up to $40 billion | 0.38% |
In excess of $40 billion and up to $45 billion | 0.36% |
In excess of $45 billion and up to $50 billion | 0.35% |
In excess of $50 billion and up to $60 billion | 0.34% |
In excess of $60 billion | 0.33% |
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% | $ 18,650,250 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 542,518 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 6,560,020 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 200,679 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 1,932,548 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 5,892,399 |
Class 529A | — | 0.25% | 0.25% | 0.22% | 84,224 |
Class 529B | 0.75% | 0.25% | 1.00% | 0.25% | 1,209 |
Class 529C | 0.75% | 0.25% | 1.00% | 1.00% | 41,952 |
Total Distribution and Service Fees | $33,905,799 |
(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 year ended August 31, 2021 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 year ended August 31, 2021, this rebate amounted to $2,674, $14, $140, $1,144, $184, $9,042, $6, and $41 for Class A, Class B, Class C, Class R2, Class R3, Class 529A, Class 529B, and Class 529C, respectively, and is included in the reduction of total expenses in the Statement of Operations. For the year ended August 31, 2021, the 0.75% distribution fee was not imposed for Class 529B shares due to the sales charge limitations contained in Financial Industry Regulatory Authority (“FINRA”) Rule 2341. |
Amount | |
Class A | $66,895 |
Class B | 38,966 |
Class C | 37,589 |
Class 529B | — |
Class 529C | 131 |
Fee | |
Class 529A | $16,845 |
Class 529B | 244 |
Class 529C | 2,095 |
Total Program Manager Fees | $19,184 |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 28,467,122 | $1,335,871,741 | 32,179,921 | $1,285,103,620 | |
Class B | 18,355 | 874,259 | 22,510 | 897,563 | |
Class C | 2,203,360 | 103,181,176 | 2,799,389 | 112,466,888 | |
Class I | 119,673,145 | 5,633,928,091 | 159,003,585 | 6,274,452,177 | |
Class R1 | 79,348 | 3,645,867 | 104,875 | 4,045,352 | |
Class R2 | 1,472,853 | 68,231,472 | 1,481,392 | 57,589,080 | |
Class R3 | 13,882,669 | 660,290,908 | 11,752,487 | 470,050,248 | |
Class R4 | 13,206,607 | 626,397,953 | 12,531,598 | 505,219,277 | |
Class R6 | 101,272,140 | 4,774,788,639 | 101,124,110 | 4,019,606,531 | |
Class 529A | 128,819 | 6,014,946 | 114,245 | 4,545,442 | |
Class 529B | 212 | 8,522 | 560 | 23,732 | |
Class 529C | 14,032 | 653,864 | 21,415 | 869,914 | |
280,418,662 | $13,213,887,438 | 321,136,087 | $12,734,869,824 | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 2,948,136 | $132,331,922 | 3,739,811 | $154,518,285 | |
Class B | 17,937 | 793,854 | 35,655 | 1,507,926 | |
Class C | 201,951 | 8,884,397 | 322,796 | 13,469,315 | |
Class I | 10,781,776 | 487,679,647 | 12,287,552 | 507,551,608 | |
Class R1 | 7,450 | 324,625 | 10,639 | 439,617 | |
Class R2 | 179,495 | 7,938,727 | 254,474 | 10,485,129 | |
Class R3 | 1,180,319 | 52,802,507 | 1,483,875 | 61,141,312 | |
Class R4 | 1,378,461 | 61,719,795 | 1,995,590 | 82,542,335 | |
Class R6 | 10,032,624 | 451,225,773 | 10,977,082 | 449,913,313 | |
Class 529A | 16,317 | 726,941 | 19,707 | 806,333 | |
Class 529B | 266 | 11,654 | 401 | 16,333 | |
Class 529C | 1,614 | 69,859 | 2,664 | 109,768 | |
26,746,346 | $1,204,509,701 | 31,130,246 | $1,282,501,274 |
Year ended 8/31/21 | Year ended 8/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Shares reacquired | |||||
Class A | (28,818,719) | $(1,350,239,633) | (37,330,996) | $(1,477,906,301) | |
Class B | (405,941) | (18,801,714) | (761,072) | (30,351,253) | |
Class C | (5,388,848) | (245,619,155) | (8,769,204) | (346,449,467) | |
Class I | (127,622,763) | (6,059,259,926) | (148,362,399) | (5,916,833,396) | |
Class R1 | (162,150) | (7,593,710) | (187,211) | (7,418,840) | |
Class R2 | (2,720,085) | (127,175,585) | (3,632,966) | (145,985,614) | |
Class R3 | (12,579,306) | (586,782,535) | (14,697,138) | (591,558,514) | |
Class R4 | (21,863,125) | (1,031,400,326) | (28,864,156) | (1,183,319,732) | |
Class R6 | (75,057,631) | (3,514,148,142) | (77,068,491) | (3,114,431,826) | |
Class 529A | (81,454) | (3,800,524) | (111,934) | (4,441,918) | |
Class 529B | (3,055) | (143,013) | (6,068) | (244,380) | |
Class 529C | (41,768) | (1,885,407) | (39,904) | (1,538,170) | |
(274,744,845) | $(12,946,849,670) | (319,831,539) | $(12,820,479,411) | ||
Net change | |||||
Class A | 2,596,539 | $117,964,030 | (1,411,264) | $(38,284,396) | |
Class B | (369,649) | (17,133,601) | (702,907) | (27,945,764) | |
Class C | (2,983,537) | (133,553,582) | (5,647,019) | (220,513,264) | |
Class I | 2,832,158 | 62,347,812 | 22,928,738 | 865,170,389 | |
Class R1 | (75,352) | (3,623,218) | (71,697) | (2,933,871) | |
Class R2 | (1,067,737) | (51,005,386) | (1,897,100) | (77,911,405) | |
Class R3 | 2,483,682 | 126,310,880 | (1,460,776) | (60,366,954) | |
Class R4 | (7,278,057) | (343,282,578) | (14,336,968) | (595,558,120) | |
Class R6 | 36,247,133 | 1,711,866,270 | 35,032,701 | 1,355,088,018 | |
Class 529A | 63,682 | 2,941,363 | 22,018 | 909,857 | |
Class 529B | (2,577) | (122,837) | (5,107) | (204,315) | |
Class 529C | (26,122) | (1,161,684) | (15,825) | (558,488) | |
32,420,163 | $1,471,547,469 | 32,434,794 | $1,196,891,687 |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $688,394,733 | $3,890,661,803 | $3,920,366,692 | $— | $— | $658,689,844 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $394,185 | $— |
October 15, 2021
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEES | ||||||||||
Robert J. Manning (k) (age 57) | Trustee | February 2004 | 136 | Massachusetts Financial Services Company, Non-Executive Chairman (since January 2021); Director; Chairman of the Board; Executive Chairman (January 2017-2020); Co-Chief Executive Officer (2015-2016) | N/A | |||||
Michael W. Roberge (k) (age 55) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; President (until December 2018); Chief Investment Officer (until December 2018); Co-Chief Executive Officer (until December 2016) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 66) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 70) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 67) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 66) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 66) | Trustee | January 2019 | 136 | Private investor | N/A |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
James W. Kilman, Jr. (age 60) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016); Morgan Stanley & Co. (financial services), Vice Chairman of Investment Banking, Co-Head of Diversified Financials Coverage – Financial Institutions Investment Banking Group (until 2016) | Alpha-En Corporation, Director (2016-2019) | |||||
Clarence Otis, Jr. (age 65) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 65) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 64) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 47) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Associate General Counsel | ||||
Kino Clark (k) (age 53) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
John W. Clark, Jr. (k) (age 54) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President (since March 2017); Deutsche Bank (financial services), Department Head - Treasurer's Office (until February 2017) | ||||
Thomas H. Connors (k) (age 62) | Assistant Secretary and Assistant Clerk | September 2012 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
David L. DiLorenzo (k) (age 53) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 54) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel (since March 2017); Harris Associates (investment management), General Counsel (until January 2017) | ||||
Brian E. Langenfeld (k) (age 48) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Senior Counsel | ||||
Amanda S. Mooradian (k) (age 42) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 50) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Kasey L. Phillips (k) (age 50) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 46) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Assistant General Counsel | ||||
Martin J. Wolin (k) (age 54) | Chief Compliance Officer | July 2015 | 136 | Massachusetts Financial Services Company, Senior Vice President and Chief Compliance Officer |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
James O. Yost (k) (age 61) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. For the period from December 15, 2004 until February 22, 2005, Mr. Manning served as Advisory Trustee. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | State Street Bank and Trust Company 1 Lincoln Street Boston, MA 02111-2900 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Ernst & Young LLP 200 Clarendon Street Boston, MA 02116 |
Portfolio Manager(s) | |
Katherine Cannan Nevin Chitkara |
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
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.
A copy of the Code is attached hereto as EX-99.COE.
ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT. |
Messrs. Steven E. Buller, James Kilman, and Clarence Otis, Jr. and Ms. Maryanne L. Roepke, members of the Audit Committee, have been determined by the Board of Trustees in their reasonable business judgment to meet the definition of “audit committee financial expert” as such term is defined in Form N-CSR. In addition, Messrs. Buller, Kilman, and Otis and Ms. Roepke are “independent” members of the Audit Committee (as such term has been defined by the Securities and Exchange Commission in regulations implementing Section 407 of the Sarbanes-Oxley Act of 2002). The Securities and Exchange Commission has stated that the designation of a person as an audit committee financial expert pursuant to this Item 3 on the Form N-CSR does not impose on such a person any duties, obligations or liability that are greater than the duties, obligations or liability imposed on such person as a member of the Audit Committee and the Board of Trustees in the absence of such designation or identification.
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
Items 4(a) through 4(d) and 4(g):
The Board of Trustees has appointed Deloitte & Touche LLP (“Deloitte”) to serve as independent accountants to certain series of the Registrant and Ernst & Young LLP (“E&Y”) to serve in the same capacity to certain other series of the Registrant (each a “Fund” and collectively the “Funds”). The tables below set forth the audit fees billed to each Fund as well as fees for non-audit services provided to each Fund and/or to each Fund’s investment adviser, Massachusetts Financial Services Company (“MFS”), and to various entities either controlling, controlled by, or under common control with MFS that provide ongoing services to the Funds (“MFS Related Entities”).
For the fiscal years ended August 31, 2021 and 2020, audit fees billed to each Fund by Deloitte and E&Y were as follows:
Audit Fees | ||||||||
2021 | 2020 | |||||||
Fees Billed by Deloitte | ||||||||
MFS Low Volatility Global Equity Fund | 48,893 | 48,229 | ||||||
MFS U.S. Government Cash Reserve Fund | 35,485 | 35,006 | ||||||
|
|
|
| |||||
Total | 84,378 | 83,235 | ||||||
Audit Fees | ||||||||
2021 | 2020 | |||||||
Fees Billed by E&Y | ||||||||
MFS Core Equity Fund | 49,321 | 48,651 | ||||||
MFS Low Volatility Equity Fund | 42,694 | 42,116 | ||||||
MFS New Discovery Fund | 47,750 | 47,101 | ||||||
MFS Research International Fund | 52,583 | 51,868 | ||||||
MFS Technology Fund | 49,321 | 48,651 | ||||||
MFS Value Fund | 49,460 | 48,788 | ||||||
|
|
|
| |||||
Total | 291,129 | 287,175 |
For the fiscal years ended August 31, 2021 and 2020, fees billed by Deloitte and E&Y for audit-related, tax and other services provided to each Fund and for audit-related, tax and other services provided to MFS and MFS Related Entities were as follows:
Audit-Related Fees1 | Tax Fees2 | All Other Fees3 | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Fees Billed by Deloitte | ||||||||||||||||||||||||
To MFS Low Volatility Global Equity Fund | 0 | 0 | 7,596 | 7,097 | 0 | 0 | ||||||||||||||||||
To MFS U.S. Government Cash Reserve Fund | 0 | 0 | 3,882 | 3,434 | 0 | 0 | ||||||||||||||||||
Total fees billed by Deloitte To above Funds | 0 | 0 | 11,478 | 10,531 | 0 | 0 | ||||||||||||||||||
Audit-Related Fees1 | Tax Fees2 | All Other Fees3 | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Fees Billed by Deloitte | ||||||||||||||||||||||||
To MFS and MFS Related Entities of MFS Low Volatility Global Equity Fund* | 0 | 0 | 0 | 0 | 1,600 | 5,390 | ||||||||||||||||||
To MFS and MFS Related Entities of MFS U.S. Government Cash Reserve Fund* | 0 | 0 | 0 | 0 | 1,600 | 5,390 |
Aggregate Fees for Non-audit Services | ||||||||
2021 | 2020 | |||||||
Fees Billed by Deloitte | ||||||||
To MFS Low Volatility Global Equity Fund, MFS and MFS Related Entities# | 9,196 | 906,237 | ||||||
To MFS U.S. Government Cash Reserve Fund, MFS and MFS Related Entities# | 5,482 | 902,574 |
Audit-Related Fees1 | Tax Fees2 | All Other Fees4 | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Fees Billed by E&Y | ||||||||||||||||||||||||
To MFS Core Equity Fund | 0 | 0 | 9,456 | 9,316 | 1,918 | 1,715 | ||||||||||||||||||
To MFS Low Volatility Equity Fund | 0 | 0 | 9,414 | 9,275 | 1,146 | 1,075 | ||||||||||||||||||
To MFS New Discovery Fund | 0 | 0 | 9,456 | 9,316 | 1,446 | 1,374 | ||||||||||||||||||
To MFS Research International Fund | 0 | 0 | 9,936 | 9,789 | 3,612 | 3,333 | ||||||||||||||||||
To MFS Technology Fund | 0 | 0 | 9,456 | 9,316 | 1,393 | 1,335 | ||||||||||||||||||
To MFS Value Fund | 0 | 0 | 9,456 | 9,316 | 12,620 | 13,698 | ||||||||||||||||||
Total fees billed by E&Y To above Funds | 0 | 0 | 57,174 | 56,328 | 22,135 | 22,530 | ||||||||||||||||||
Audit-Related Fees1 | Tax Fees2 | All Other Fees4 | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Fees Billed by E&Y | ||||||||||||||||||||||||
To MFS and MFS Related Entities of MFS Core Equity Fund* | 1,668,649 | 1,785,828 | 0 | 0 | 107,150 | 104,750 | ||||||||||||||||||
To MFS and MFS Related Entities of Low Volatility Equity Fund* | 1,668,649 | 1,785,828 | 0 | 0 | 107,150 | 104,750 | ||||||||||||||||||
To MFS and MFS Related Entities of MFS New Discovery Fund* | 1,668,649 | 1,785,828 | 0 | 0 | 107,150 | 104,750 | ||||||||||||||||||
To MFS and MFS Related Entities of MFS Research International Fund* | 1,668,649 | 1,785,828 | 0 | 0 | 107,150 | 104,750 | ||||||||||||||||||
To MFS and MFS Related Entities of MFS Technology Fund* | 1,668,649 | 1,785,828 | 0 | 0 | 107,150 | 104,750 | ||||||||||||||||||
To MFS and MFS Related Entities of MFS Value Fund* | 1,668,649 | 1,785,828 | 0 | 0 | 107,150 | 104,750 |
Aggregate Fees for Non-audit Services | ||||||||
2021 | 2020 | |||||||
Fees Billed by E&Y | ||||||||
To MFS Core Equity Fund, MFS and MFS Related Entities# | 2,053,603 | 2,080,609 | ||||||
To Low Volatility Equity Fund, MFS and MFS Related Entities# | 2,052,789 | 2,079,928 | ||||||
To MFS New Discovery Fund, MFS and MFS Related Entities# | 2,053,131 | 2,080,268 | ||||||
To MFS Research International Fund, MFS and MFS Related Entities# | 2,055,777 | 2,082,700 | ||||||
To MFS Technology Fund, MFS and MFS Related Entities# | 2,053,078 | 2,080,229 | ||||||
To MFS Value Fund, MFS and MFS Related Entities# | 2,064,305 | 2,092,592 |
* | This amount reflects the fees billed to MFS and MFS Related Entities for non-audit services relating directly to the operations and financial reporting of the Funds (portions of which services also related to the operations and financial reporting of other funds within the MFS Funds complex). |
# | This amount reflects the aggregate fees billed by Deloitte or E&Y for non-audit services rendered to the Funds and for non-audit services rendered to MFS and the MFS Related Entities. |
1 | The fees included under “Audit-Related Fees” are fees related to assurance and related services that are reasonably related to the performance of the audit or review of financial statements, but not reported under ‘‘Audit Fees,’’ including accounting consultations, agreed-upon procedure reports, attestation reports, comfort letters and internal control reviews. |
2 | The fees included under “Tax Fees” are fees associated with tax compliance, tax advice and tax planning, including services relating to the filing or amendment of federal, state or local income tax returns, regulated investment company qualification reviews and tax distribution and analysis. |
3 | The fees included under “All Other Fees” are fees for products and services provided by Deloitte other than those reported under “Audit Fees,” “Audit-Related Fees” and “Tax Fees”. |
4 | The fees included under “All Other Fees” are fees for products and services provided by E&Y other than those reported under “Audit Fees,” “Audit-Related Fees” and “Tax Fees,” including fees for services related to review of internal controls and review of Rule 38a-1 compliance program. |
Item 4(e)(1):
Set forth below are the policies and procedures established by the Audit Committee of the Board of Trustees relating to the pre-approval of audit and non-audit related services:
To the extent required by applicable law, pre-approval by the Audit Committee of the Board is needed for all audit and permissible non-audit services rendered to the Fund and all permissible non-audit services rendered to MFS or MFS Related Entities if the services relate directly to the operations and financial reporting of the Registrant. Pre-approval is currently on an engagement-by-engagement basis. In the event pre-approval of such services is necessary between regular meetings of the Audit Committee and it is not practical to wait to seek pre-approval at the next regular meeting of the Audit Committee, pre-approval of such services may be referred to the Chair of the Audit Committee for approval; provided that the Chair may not pre-approve any individual engagement for such services exceeding $50,000 or multiple engagements for such services in the aggregate exceeding $100,000 in each period between regular meetings of the Audit Committee. Any engagement pre-approved by the Chair between regular meetings of the Audit Committee shall be presented for ratification by the entire Audit Committee at its next regularly scheduled meeting.
Item 4(e)(2):
None, or 0%, of the services relating to the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund and MFS and MFS Related Entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).
Item 4(f):
Not applicable.
Item 4(h):
The Registrant’s Audit Committee has considered whether the provision by a Registrant’s independent registered public accounting firm of non-audit services to MFS and MFS Related Entities that were not pre-approved by the Committee (because such services did not relate directly to the operations and financial reporting of the Registrant) was compatible with maintaining the independence of the independent registered public accounting firm as the Registrant’s principal auditors.
ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS. |
Not applicable to the Registrant.
ITEM 6. | INVESTMENTS |
A schedule of investments of the Registrant 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. | 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 I
By (Signature and Title)* | /S/ DAVID L. DILORENZO | |
David L. DiLorenzo, President |
Date: October 15, 2021
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: October 15, 2021
By (Signature and Title)* | /S/ JAMES O. YOST | |
James O. Yost, Treasurer (Principal Financial Officer and Accounting Officer) |
Date: October 15, 2021
* | Print name and title of each signing officer under his or her signature. |