0001752724-22-215411.txt : 20220926 0001752724-22-215411.hdr.sgml : 20220926 20220926112315 ACCESSION NUMBER: 0001752724-22-215411 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20220731 FILED AS OF DATE: 20220926 DATE AS OF CHANGE: 20220926 PERIOD START: 20230430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MFS SERIES TRUST XII CENTRAL INDEX KEY: 0001330967 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-21780 FILM NUMBER: 221264549 BUSINESS ADDRESS: STREET 1: 111 HUNTINGTON AVENUE CITY: BOSTON STATE: MA ZIP: 02199 BUSINESS PHONE: 617-954-5000 MAIL ADDRESS: STREET 1: 111 HUNTINGTON AVENUE CITY: BOSTON STATE: MA ZIP: 02199 FORMER COMPANY: FORMER CONFORMED NAME: MFS Series Trust XII DATE OF NAME CHANGE: 20050622 0001330967 S000038773 MFS Lifetime 2025 Fund C000119423 B LTTBX C000119424 C LTTCX C000119425 I LTTIX C000119426 R1 LTTRX C000119427 R2 LTTSX C000119428 R3 LTTTX C000119429 R4 LTTUX C000119430 A LTTAX C000173230 R6 LTTKX NPORT-P 1 primary_doc.xml NPORT-P false 0001330967 XXXXXXXX S000038773 C000119428 C000119423 C000119425 C000119424 C000173230 C000119429 C000119426 C000119430 C000119427 MFS SERIES TRUST XII 811-21780 0001330967 549300VVIIPRJRW6FR46 111 HUNTINGTON AVENUE BOSTON 02199 617-954-5000 MFS Lifetime 2025 Fund S000038773 549300FD1OUZIFXJIP34 2023-04-30 2022-07-31 N 402260185.36 1990996.13 400269189.23 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N MFS Government Securities Fund UWWK6TDSOPDQSQMMEB12 MFS Government Securities Fund 552982712 4266056.16000000 NS USD 39674322.29000000 9.911910123864 Long EC RF US N 1 N N N MFS Emerging Markets Debt Fund 509D6AOZZ4SJ08T5BZ82 MFS Emerging Markets Debt Fund 552746364 559933.67300000 NS USD 6562422.65000000 1.639502321581 Long EC RF US N 1 N N N MFS Research International Fund UH91KW1VFNZQF5FY7237 MFS Research International Fund 55273H361 360255.38300000 NS USD 7320389.38000000 1.828866567042 Long EC RF US N 1 N N N MFS Blended Research Core Equity Fund SQK3NYUBFBKJ3GF1IO09 MFS Blended Research Core Equity Fund 55273W483 359124.20800000 NS USD 10698310.16000000 2.672778831810 Long EC RF US N 1 N N N MFS Growth Fund K4ZYIH3WSXKUSPKIPM59 MFS Growth Fund 552985673 70213.00900000 NS USD 10753824.46000000 2.686648073184 Long EC RF US N 1 N N N MFS New Discovery Value Fund LRMRW30Z8FYTIFW1W860 MFS New Discovery Value Fund 552982696 106512.96900000 NS USD 1947057.07000000 0.486436908557 Long EC RF US N 1 N N N MFS Blended Research Value Equity Fund 549300QL66OEPI6JSE90 MFS Blended Research Value Equity Fund 552746133 730793.71400000 NS USD 10611124.73000000 2.650997132807 Long EC RF US N 1 N N N MFS High Income Fund DMVGFZCV67YA34LSI126 MFS High Income Fund 552984684 4320862.47800000 NS USD 13135421.93000000 3.281647022412 Long EC RF US N 1 N N N MFS Blended Research Small Cap Equity Fund 549300R0MISDFKQQMH05 MFS Blended Research Small Cap Equity Fund 552743684 279506.28700000 NS USD 4033275.72000000 1.007640814862 Long EC RF US N 1 N N N MFS International Intrinsic Value Fund 7540QFSKYNTDFH7HAK24 MFS International Intrinsic Value Fund 552746349 77944.99000000 NS USD 3324353.82000000 0.830529530987 Long EC RF US N 1 N N N MFS Mid Cap Growth Fund XPX0WXKIO6CLKBLYF666 MFS Mid Cap Growth Fund 552987554 284451.55400000 NS USD 7387206.86000000 1.845559703011 Long EC RF US N 1 N N N MFS Global Real Estate Fund ROYDM6SL56ZXYAENS860 MFS Global Real Estate Fund 552982720 426852.30300000 NS USD 8071777.05000000 2.016587153642 Long EC RF US N 1 N N N MFS Blended Research Mid Cap Equity Fund 549300CJNZTXTE7DBK33 MFS Blended Research Mid Cap Equity Fund 552743551 1210447.12000000 NS USD 14731141.45000000 3.680308613895 Long EC RF US N 1 N N N MFS New Discovery Fund ZVEMRLDGMDO1D1VDSU87 MFS New Discovery Fund 55273H346 74026.51000000 NS USD 2019443.19000000 0.504521268270 Long EC RF US N 1 N N N MFS Institutional Money Market Portfolio 5L2W638H85N8T1136O07 MFS Institutional Money Market Portfolio 55291X109 72.82000000 NS USD 72.82000000 0.000018192756 Long STIV RF US N 1 N N N MFS Blended Research Growth Equity Fund 549300M0GLI3GVVPMM34 MFS Blended Research Growth Equity Fund 552743783 658642.94300000 NS USD 10781984.98000000 2.693683468553 Long EC RF US N 1 N N N MFS Research Fund XFPOOG2XVG5TW1LZ8588 MFS Research Fund 552981391 202842.63500000 NS USD 10701977.42000000 2.673695030233 Long EC RF US N 1 N N N MFS Research Bond Fund FJAEEQMSDDUK9QL2E558 MFS Research Bond Fund 55274K603 6684334.26300000 NS USD 66642812.60000000 16.64949848580 Long EC RF US N 1 N N N MFS Global Opportunistic Bond Fund XE280U8NKIY4V6K1JN70 MFS Global Opportunistic Bond Fund 552743882 3427919.27100000 NS USD 27800425.29000000 6.945432233612 Long EC RF US N 1 N N N MFS Value Fund HV6C0RMURVKFUQ3UTB42 MFS Value Fund 55273H353 213500.44600000 NS USD 10617377.18000000 2.652559194082 Long EC RF US N 1 N N N MFS Inflation Adjusted Bond Fund VOHO802M9IKG3IZTEN75 MFS Inflation Adjusted Bond Fund 55274K884 3823106.86000000 NS USD 40027928.82000000 10.00025230445 Long EC RF US N 1 N N N MFS Commodity Strategy Fund T0OEQ8I3F6DXUJCOV412 MFS Commodity Strategy Fund 55276T826 1517044.75500000 NS USD 8070678.10000000 2.016312600908 Long EC RF US N 1 N N N MFS Blended Research International Equity Fund 5493006W0U1M8BQLTQ30 MFS Blended Research International Equity Fund 552987448 1242457.39300000 NS USD 13853399.93000000 3.461020808683 Long EC RF US N 1 N N N MFS Ltd Maturity Fund 7ER38PJ2TK60L3Y32478 MFS Ltd Maturity Fund 55274K801 9212575.25300000 NS USD 53064433.46000000 13.25718663534 Long EC RF US N 1 N N N MFS Mid Cap Value Fund BXHSCSBXYY1DOHP6E209 MFS Mid Cap Value Fund 55273W475 245406.60700000 NS USD 7349927.88000000 1.836246225731 Long EC RF US N 1 N N N MFS Emerging Markets Debt Local Currency Fund 5493001KPK8UJ27DMD68 MFS 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Quarterly Report
July 31, 2022
MFS®  Lifetime®  2025 Fund
L25-Q1
Portfolio of Investments
7/31/22 (unaudited)
The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.
Issuer     Shares/Par Value ($)
Investment Companies (h) – 99.8%
Bond Funds – 63.5%
MFS Emerging Markets Debt Fund - Class R6     562,377 $6,591,064
MFS Emerging Markets Debt Local Currency Fund - Class R6     1,256,332 6,545,490
MFS Global Opportunistic Bond Fund - Class R6     3,435,341 27,860,614
MFS Government Securities Fund - Class R6     4,275,752 39,764,494
MFS High Income Fund - Class R6     4,339,056 13,190,730
MFS Inflation-Adjusted Bond Fund - Class R6     3,823,107 40,027,929
MFS Limited Maturity Fund - Class R6     9,260,690 53,341,574
MFS Total Return Bond Fund - Class R6     6,706,238 66,861,194
        $254,183,089
International Stock Funds – 6.9%
MFS Blended Research International Equity Fund - Class R6     1,242,458 $13,853,400
MFS International Growth Fund - Class R6     88,691 3,289,557
MFS International Intrinsic Value Fund - Class R6     77,945 3,324,354
MFS Research International Fund - Class R6     360,255 7,320,389
        $27,787,700
Specialty Funds – 4.0%
MFS Commodity Strategy Fund - Class R6     1,517,045 $8,070,678
MFS Global Real Estate Fund - Class R6     426,852 8,071,777
        $16,142,455
U.S. Stock Funds – 25.4%
MFS Blended Research Core Equity Fund - Class R6     359,124 $10,698,310
MFS Blended Research Growth Equity Fund - Class R6     658,643 10,781,985
MFS Blended Research Mid Cap Equity Fund - Class R6     1,210,447 14,731,141
MFS Blended Research Small Cap Equity Fund - Class R6     279,506 4,033,276
MFS Blended Research Value Equity Fund - Class R6     730,794 10,611,125
MFS Growth Fund - Class R6     70,213 10,753,825
MFS Mid Cap Growth Fund - Class R6     284,452 7,387,207
MFS Mid Cap Value Fund - Class R6     245,407 7,349,928
MFS New Discovery Fund - Class R6     74,027 2,019,443
MFS New Discovery Value Fund - Class R6     110,481 2,019,600
MFS Research Fund - Class R6     202,843 10,701,977
MFS Value Fund - Class R6     213,500 10,617,377
        $101,705,194
Money Market Funds – 0.0%  
MFS Institutional Money Market Portfolio, 1.72% (v)     961 $961
Total Investment Companies $399,819,399
 
Other Assets, Less Liabilities – 0.2%   754,174
Net Assets – 100.0% $400,573,573
(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 value of the fund’s investments in affiliated issuers was $399,819,399.      
(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.      
See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.
1
Supplemental Information
7/31/22 (unaudited)
The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.
(1) Investment Valuations
Open-end investment companies (underlying funds) are generally valued at their net asset value per share. The investments of underlying funds managed by the adviser are valued as described below. For purposes of this policy disclosure, “fund” also refers to the underlying funds in which the fund-of-funds invests.
Equity securities, including restricted equity securities and equity securities sold short, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Equity securities sold short, for which there were no sales reported that day, are generally valued at the last quoted daily ask quotation on their primary market or exchange as provided by a third-party pricing service. Debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Debt instruments sold short are generally valued at an evaluated or composite mean as provided by a third-party pricing service.
Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value.
Exchange-traded options are generally valued at the last sale or official closing price on their primary exchange as provided by a third-party pricing service. Exchange-traded options for which there were no sales reported that day are generally valued at the last daily bid quotation on their primary exchange as provided by a third-party pricing service. For put options, the position may be valued at the last daily ask quotation if there are no trades reported during the day. Options not traded on an exchange are generally valued at a broker/dealer bid quotation. Foreign currency options are generally valued at valuations provided by a third-party pricing service. Futures contracts are generally valued at last posted settlement price on their primary exchange as provided by a third-party pricing service. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation on their primary exchange as provided by a third-party pricing service. Forward foreign currency exchange contracts are generally valued at the mean of bid and asked prices for the time period interpolated from rates provided by a third-party pricing service for proximate time periods. Swap agreements are generally valued using valuations provided by a third-party pricing service, which for cleared swaps includes an evaluation of any trading activity at the clearinghouses. Open-end investment companies are generally valued at net asset value per share. Securities and other assets, including commodity-linked structured notes, generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.
The Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund’s investments (including any fair valuation) to the adviser pursuant to valuation policies and procedures approved by the Board. If the adviser determines that reliable market quotations are not readily available, investments are valued at fair value as determined in good faith by the adviser in accordance with such procedures under the oversight of the Board of Trustees. Under the fund’s valuation policies and procedures, market quotations are not considered to be readily available for most types of debt instruments and floating rate loans and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services. In addition, investments may be valued at fair value if the adviser determines that an investment’s value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund’s net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. Events that occur after foreign markets close (such as developments in foreign markets and significant movements in the U.S. markets) and prior to the determination of the fund’s net asset value may be deemed to have a material effect on the value of securities traded in foreign markets. Accordingly, the fund’s foreign equity securities may often be valued at fair value. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund’s net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund’s net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.
Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other
2
Supplemental Information (unaudited) – continued
significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of July 31, 2022 in valuing the fund's assets and liabilities:
Financial Instruments Level 1 Level 2 Level 3 Total
Mutual Funds $399,819,399 $— $— $399,819,399
For further information regarding security characteristics, see the Portfolio of Investments. Please refer to the underlying funds’ shareholder reports for further information regarding the levels used in valuing the underlying funds’ assets and liabilities.
(2) Investments in Affiliated Issuers
An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the following were affiliated issuers:
Affiliated Issuers Beginning
Value 		Purchases Sales
Proceeds 		Realized
Gain
(Loss) 		Change in
Unrealized
Appreciation or
Depreciation 		Ending
Value
MFS Blended Research Core Equity Fund $10,782,613 $146,534 $304,594 $(33,304) $107,061 $10,698,310
MFS Blended Research Growth Equity Fund 10,499,972 460,348 307,039 (60,558) 189,262 10,781,985
MFS Blended Research International Equity Fund 14,395,742 319,753 348,537 3,398 (516,956) 13,853,400
MFS Blended Research Mid Cap Equity Fund 14,777,601 374,287 456,031 (36,743) 72,027 14,731,141
MFS Blended Research Small Cap Equity Fund 3,951,872 158,432 105,770 (10,147) 38,889 4,033,276
MFS Blended Research Value Equity Fund 10,883,003 80,298 380,816 49,810 (21,170) 10,611,125
MFS Commodity Strategy Fund 8,416,875 823,577 809,890 150,561 (510,445) 8,070,678
MFS Emerging Markets Debt Fund 7,005,802 276,304 301,346 (61,708) (327,988) 6,591,064
MFS Emerging Markets Debt Local Currency Fund 6,924,168 266,904 338,583 (80,665) (226,334) 6,545,490
MFS Global Opportunistic Bond Fund 29,272,064 404,197 1,444,211 (252,728) (118,708) 27,860,614
MFS Global Real Estate Fund 8,084,897 594,384 171,542 (5,669) (430,293) 8,071,777
MFS Government Securities Fund 41,981,960 335,601 2,808,290 (409,917) 665,140 39,764,494
MFS Growth Fund 10,447,231 494,927 352,915 (22,291) 186,873 10,753,825
MFS High Income Fund 14,118,503 190,123 878,595 (111,275) (128,026) 13,190,730
MFS Inflation-Adjusted Bond Fund 42,079,286 1,010,614 2,473,359 (156,072) (432,540) 40,027,929
MFS Institutional Money Market Portfolio 786,735 2,747,749 3,533,502 (21) — 961
MFS International Growth Fund 3,443,816 20,912 118,180 (1,277) (55,714) 3,289,557
MFS International Intrinsic Value Fund 3,446,023 43,544 117,358 (19,411) (28,444) 3,324,354
MFS Limited Maturity Fund 55,283,420 1,529,145 3,175,887 (193,887) (101,217) 53,341,574
MFS Mid Cap Growth Fund 7,250,048 284,826 320,602 (21,620) 194,555 7,387,207
MFS Mid Cap Value Fund 7,433,952 191,102 301,887 44,039 (17,278) 7,349,928
MFS New Discovery Fund 1,957,953 97,159 37,272 (14,182) 15,785 2,019,443
MFS New Discovery Value Fund 2,007,626 134,406 76,755 278 (45,955) 2,019,600
MFS Research Fund 10,754,605 150,791 387,758 29,275 155,064 10,701,977
MFS Research International Fund 7,493,796 125,134 202,968 (3,618) (91,955) 7,320,389
MFS Total Return Bond Fund 69,081,249 1,099,757 3,131,492 (537,494) 349,174 66,861,194
MFS Value Fund 10,874,564 116,981 463,171 94,251 (5,248) 10,617,377
  $413,435,376 $12,477,789 $23,348,350 $(1,660,975) $(1,084,441) $399,819,399
Affiliated Issuers Dividend
Income 		Capital Gain
Distributions
MFS Blended Research Core Equity Fund $— $—
MFS Blended Research Growth Equity Fund — —
MFS Blended Research International Equity Fund — —
MFS Blended Research Mid Cap Equity Fund — —
MFS Blended Research Small Cap Equity Fund — —
MFS Blended Research Value Equity Fund — —
MFS Commodity Strategy Fund — —
MFS Emerging Markets Debt Fund 85,186 —
MFS Emerging Markets Debt Local Currency Fund 94,279 —
3
Supplemental Information (unaudited) – continued
Affiliated Issuers − continued Dividend
Income 		Capital Gain
Distributions
MFS Global Opportunistic Bond Fund $139,298 $—
MFS Global Real Estate Fund — —
MFS Government Securities Fund 170,527 —
MFS Growth Fund — —
MFS High Income Fund 168,472 —
MFS Inflation-Adjusted Bond Fund 605,252 —
MFS Institutional Money Market Portfolio 1,850 —
MFS International Growth Fund — —
MFS International Intrinsic Value Fund — —
MFS Limited Maturity Fund 239,149 —
MFS Mid Cap Growth Fund — —
MFS Mid Cap Value Fund — —
MFS New Discovery Fund — —
MFS New Discovery Value Fund 28,556 43,986
MFS Research Fund — —
MFS Research International Fund — —
MFS Total Return Bond Fund 459,876 —
MFS Value Fund 53,827 —
  $2,046,272 $43,986
(3) Russia and Ukraine Conflict
The market disruptions, which began in late February 2022, associated with geopolitical events related to the conflict between Russia and Ukraine may adversely affect the value of the fund’s assets and thus the fund’s performance. Management continues to monitor these events and to evaluate the related impacts, if any, to the fund.
4