MFS® Absolute Return Fund

Top 10 Holdings

As of 7/31/16

UST Bond 10Yr Future SEP 21 16
US Treasury Note 0.875% MAR 31 18
IBOXX USD Liquid High Yield Index Total Return SWAP
Iboxx USD Liquid High Yield Index Total Return Swap 0.000 SEP 20 16
FTSE 100 Index Future SEP 16 16
TOPIX Index Future SEP 08 16*
JGB 10Yr Future SEP 12 16*
Aud Bond 10Yr Future SEP 15 16*
S&P 500 E-Mini Future SEP 16 16*
Canadian Bond 10Yr Future SEP 21 16*

28.90% long and 34.10% short (*) positions of total net assets

Total number of holdings: 382

Full and Historical Holdings

Currency Weights %

As of 7/31/16

United States Dollar
97.87
Norwegian Krone
6.44
Japanese Yen
3.87
New Zealand Dollar
2.21
Australian Dollar
2.02
Brazilian Real
0.29
South Korean Won
0.05
Singapore Dollar
0.03
Mexican Peso
0.02
South African Rand
0.02
Turkish Lira*
-0.03
Hong Kong Dollar*
-0.05
Euro*
-0.54
Canadian Dollar*
-0.77
British Pound Sterling*
-2.81
Swedish Krona*
-2.84
Swiss Franc*
-5.78

Fund Positions %

As of 7/31/16

 
Actively Managed
Overlay Impact1
Net Exposure
  Fixed Income
 
Total
96.92
U.S.
62.16
18.20
80.36
Europe ex-U.K.
14.12
3.28
17.40
United Kingdom
3.81
3.52
7.33
Emerging Markets
2.38
0.00
2.38
Supranational
1.07
0.00
1.07
Developed - Middle East/Africa
0.25
0.00
0.25
Japan
3.22
-4.94
-1.72
Asia/Pacific ex-Japan
3.08
-6.65
-3.58
North America ex-U.S.
2.88
-9.45
-6.58
  Equity
 
Total
0.95
Emerging Markets
0.00
6.00
6.00
United Kingdom
0.00
4.47
4.47
Asia/Pacific ex-Japan
0.00
2.76
2.76
North America ex-U.S.
0.00
1.71
1.71
U.S. Small/Mid Cap
0.00
-0.34
-0.34
Europe ex-U.K.
0.00
-0.60
-0.60
Japan
0.00
-4.30
-4.30
U.S. Large Cap
0.00
-8.76
-8.76
  Real Estate Related
 
Total
0.81
U.S.
0.81
0.00
0.81
Cash & Cash Equivalents
 
5.35
Other2
 
-4.03
Total Net Exposure Summary
100.10
-0.10
100.00

1Represents the Fund's exposure to various markets using derivative instruments.

2Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.

Important Characteristics Information

Portfolio characteristic data are based on unaudited net assets.

The portfolio is actively managed, and current holdings may be different.

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.

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

This publication is authorized for distribution only when preceded or accompanied by a prospectus, or summary prospectus, for the portfolio being offered. Consider the fund's investment objectives, risks, charges and expenses. Contact MFS or view online. Read it carefully.