Full & Historical Holdings

Contrarian Value Fund


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Based on Market Value Based on Equivalent Exposure
ISIN Securities
(on 31-Oct-25)
Shares or Par Amount Value Percent of Net Assets Value Percent of Net Assets Market Cap ($mm) GICS Sectors

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.

Country
NL0015435975 Davide Campari-Milano NV 15,642,427 $108,794,489.17 3.82% $108,794,489.17 3.82% 12,701.95 Consumer Staples Italy
NL0010801007 IMCD NV 971,391 $100,748,251.78 3.53% $100,748,251.78 3.53% 6,130.41 Industrials Netherlands
FR001400AJ45 Cie Generale des Etablissements Michelin SCA 2,982,055 $95,177,887.12 3.34% $95,177,887.12 3.34% 22,654.23 Consumer Discretionary France
DE0005552004 Deutsche Post AG 2,014,581 $92,419,850.23 3.24% $92,419,850.23 3.24% 55,050.56 Industrials Germany
US0758871091 Becton Dickinson & Co 488,332 $87,269,811.72 3.06% $87,269,811.72 3.06% 51,223.20 Health Care United States
KR7005930003 Samsung Electronics Co Ltd 1,117,458 $84,594,338.82 2.96% $84,314,255.13 2.96% 504,477.22 Information Technology South Korea
GB0005576813 Howden Joinery Group PLC 7,355,145 $83,910,565.95 2.93% $83,435,290.17 2.93% 6,130.39 Industrials United Kingdom
DE000ZAL1111 Zalando SE 2,832,326 $79,201,150.48 2.78% $79,201,150.48 2.78% 7,387.06 Consumer Discretionary Germany
GB00BJFFLV09 Croda International PLC 2,084,099 $79,042,620.32 2.77% $79,042,620.32 2.77% 5,295.89 Materials United Kingdom
CA13646K1084 Canadian Pacific Kansas City Ltd 1,090,120 $78,434,134.00 2.75% $78,434,134.00 2.75% 64,834.15 Industrials Canada
IE00BTN1Y115 Medtronic PLC 794,446 $72,056,252.20 2.53% $72,056,252.20 2.53% 116,339.61 Health Care United States
SE0007100581 Assa Abloy AB 1,907,983 $72,039,525.50 2.53% $72,039,525.50 2.53% 41,939.47 Industrials Sweden
NL0011821392 Signify NV 2,994,334 $71,720,488.59 2.52% $71,720,488.59 2.52% 3,074.11 Industrials Netherlands
US4448591028 Humana Inc 250,952 $69,812,336.88 2.45% $69,812,336.88 2.45% 33,458.42 Health Care United States
FR0000124141 Veolia Environnement SA 2,113,694 $69,801,410.00 2.45% $69,801,410.00 2.45% 24,494.25 Utilities France
- EUR/USD FWD 20251126 BBHH-BOS 57,889,439 $66,824,734.81 2.34% $66,726,262.00 2.34% - Unclassified United States
FR0000120693 Pernod Ricard SA 670,915 $65,702,131.65 2.30% $65,702,131.65 2.30% 24,704.51 Consumer Staples France
DE000SYM9999 Symrise AG 779,119 $64,462,137.77 2.26% $64,462,137.77 2.26% 11,564.35 Materials Germany
GB00BDR05C01 National Grid PLC 4,108,409 $61,528,272.70 2.16% $61,528,272.70 2.16% 74,303.56 Utilities United Kingdom
CA15135U1093 Cenovus Energy Inc 3,593,047 $60,714,565.54 2.13% $60,714,565.54 2.13% 30,411.82 Energy Canada
GB0031638363 Intertek Group PLC 909,840 $60,539,757.33 2.12% $60,539,757.33 2.12% 10,274.03 Industrials United Kingdom
FR0000120578 Sanofi SA 592,372 $59,813,068.52 2.10% $59,813,068.52 2.10% 123,940.17 Health Care France
JP3942600002 Yamaha Corp 9,221,600 $58,983,905.91 2.05% $58,335,849.98 2.05% 3,181.98 Consumer Discretionary Japan
US0528001094 Autoliv Inc 496,501 $57,991,316.80 2.03% $57,991,316.80 2.03% 8,876.80 Consumer Discretionary United States
US4781601046 Johnson & Johnson 306,160 $57,824,439.20 2.03% $57,824,439.20 2.03% 455,043.58 Health Care United States
GB00BWFGQN14 Spirax Group PLC 608,398 $57,091,447.76 1.99% $56,706,961.51 1.99% 6,876.45 Industrials United Kingdom
GB0032089863 Next PLC 292,499 $54,948,598.89 1.93% $54,948,598.89 1.93% 23,000.83 Consumer Discretionary United Kingdom
IE00BD1RP616 Bank of Ireland Group PLC 3,323,967 $54,347,991.44 1.91% $54,347,991.43 1.91% 15,579.84 Financials Ireland
US8835561023 Thermo Fisher Scientific Inc 94,591 $53,669,987.49 1.88% $53,669,987.49 1.88% 214,253.34 Health Care United States
GB0009223206 Smith & Nephew PLC 2,872,024 $53,381,811.47 1.86% $53,010,339.90 1.86% 15,662.64 Health Care United Kingdom
GB00BM8PJY71 NatWest Group PLC 6,626,714 $50,840,202.82 1.78% $50,840,202.82 1.78% 61,692.79 Financials United Kingdom
JP3351600006 Shiseido Co Ltd 2,988,200 $50,414,119.78 1.77% $50,414,119.78 1.77% 6,748.43 Consumer Staples Japan
GB00BYQ0JC66 Beazley PLC 3,762,908 $45,997,706.49 1.61% $45,997,706.49 1.61% 7,331.92 Financials United Kingdom
CA8787422044 Teck Resources Ltd 1,057,960 $45,386,940.36 1.59% $45,386,940.36 1.59% 20,939.70 Materials Canada
GB0009465807 Weir Group PLC 1,163,968 $45,631,400.32 1.59% $45,261,500.94 1.59% 10,095.15 Industrials United Kingdom
FR0000130395 Remy Cointreau SA 889,723 $44,077,675.50 1.55% $44,077,675.50 1.55% 2,605.35 Consumer Staples France
US1264081035 CSX Corp 1,202,332 $43,307,998.64 1.52% $43,307,998.64 1.52% 67,074.17 Industrials United States
DE0005200000 Beiersdorf AG 385,369 $40,741,618.40 1.43% $40,741,618.40 1.43% 25,647.93 Consumer Staples Germany
BMG4593F1389 Hiscox Ltd 2,210,897 $39,936,261.60 1.40% $39,936,261.60 1.40% 5,996.65 Financials United Kingdom
NL0011540547 ABN AMRO Bank NV 1,215,081 $36,288,590.30 1.27% $36,288,590.30 1.27% 24,879.13 Financials Netherlands
JP3500610005 Resona Holdings Inc 3,739,900 $36,537,010.85 1.27% $36,243,856.01 1.27% 22,358.76 Financials Japan
JE00B4T3BW64 Glencore PLC 7,375,273 $35,311,181.98 1.24% $35,311,181.98 1.24% 56,516.95 Materials United Kingdom
GB00BTK05J60 Anglo American PLC 809,396 $30,569,976.35 1.07% $30,569,976.35 1.07% 44,493.63 Materials United Kingdom
FR0000131104 BNP Paribas SA 354,893 $27,432,060.95 0.96% $27,432,060.95 0.96% 86,323.79 Financials France
LU1598757687 ArcelorMittal 687,442 $26,275,321.51 0.92% $26,275,321.51 0.92% 32,595.99 Materials France
- GBP/USD FWD 20251126 BBHH-BOS 13,996,303 $18,388,032.86 0.64% $18,386,943.59 0.64% - Unclassified United States
- CHF/USD FWD 20251126 BBHH-BOS 5,631,890 $7,019,768.84 0.25% $6,998,310.46 0.25% - Unclassified United States
- USD/CHF FWD 20251126 BBHH-BOS -7,100,834 $-7,100,834.21 -0.25% $-7,100,834.21 -0.25% - Unclassified United States
- USD/GBP FWD 20251126 BBHH-BOS -18,590,043 $-18,590,042.64 -0.65% $-18,590,042.64 -0.65% - Unclassified United States
- USD/EUR FWD 20251126 BBHH-BOS -67,451,319 $-67,451,318.63 -2.37% $-67,451,318.63 -2.37% - Unclassified United States
- Cash - 190,200,746.26 6.67% 190,214,057.02 6.67% - - -
- Other - -909,658.94 -0.03% -922,969.70 -0.03% - - Other

*Short positions, unlike long positions, lose value if the underlying asset gains value.

Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.
Other. Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.
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