0001752724-24-066456.txt : 20240326 0001752724-24-066456.hdr.sgml : 20240326 20240326082024 ACCESSION NUMBER: 0001752724-24-066456 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20240131 FILED AS OF DATE: 20240326 DATE AS OF CHANGE: 20240326 PERIOD START: 20240430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MFS SERIES TRUST XII CENTRAL INDEX KEY: 0001330967 ORGANIZATION NAME: 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: 24781001 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 S000055287 MFS Lifetime 2060 Fund C000173915 A MFJAX C000173916 B MFJBX C000173917 C MFJCX C000173918 I MFJIX 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288639.72000000 NS USD 4320936.65000000 2.465964446615 Long EC RF US N 1 N N N MFS International Intrinsic Value Fund 7540QFSKYNTDFH7HAK24 MFS International Intrinsic Value Fund 552746349 164579.86000000 NS USD 6143765.99000000 3.506255640121 Long EC RF US N 1 N N N MFS Mid Cap Growth Fund XPX0WXKIO6CLKBLYF666 MFS Mid Cap Growth Fund 552987554 294989.80000000 NS USD 8713998.57000000 4.973090883311 Long EC RF US N 1 N N N MFS Global Real Estate Fund ROYDM6SL56ZXYAENS860 MFS Global Real Estate Fund 552982720 542593.13000000 NS USD 8800860.50000000 5.022663105377 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 1324804.48000000 NS USD 17447674.94000000 9.957411913954 Long EC RF US N 1 N N N MFS New Discovery Fund ZVEMRLDGMDO1D1VDSU87 MFS New Discovery Fund 55273H346 75329.37000000 NS USD 2173252.21000000 1.240278003934 Long EC RF US N 1 N N N MFS Institutional Money Market Portfolio 5L2W638H85N8T1136O07 MFS Institutional Money Market Portfolio 55291X109 2424115.23000000 NS USD 2424357.64000000 1.383584215732 Long STIV RF US N 1 N N N MFS Blended Research Growth Equity Fund 549300M0GLI3GVVPMM34 MFS Blended Research Growth Equity Fund 552743783 442700.65000000 NS USD 8885001.97000000 5.070682757205 Long EC RF US N 1 N N N MFS Research Fund XFPOOG2XVG5TW1LZ8588 MFS Research Fund 552981391 149515.38000000 NS USD 8048412.69000000 4.593240112703 Long EC RF US N 1 N N N MFS Research Bond Fund FJAEEQMSDDUK9QL2E558 MFS Research Bond Fund 55274K603 377673.98000000 NS USD 3599233.00000000 2.054087188037 Long EC RF US N 1 N N N MFS Value Fund HV6C0RMURVKFUQ3UTB42 MFS Value Fund 55273H353 203611.45000000 NS USD 9673579.85000000 5.520725230165 Long EC RF US N 1 N N N MFS Inflation Adjusted Bond Fund VOHO802M9IKG3IZTEN75 MFS Inflation Adjusted Bond Fund 55274K884 467310.58000000 NS USD 4271218.70000000 2.437590344658 Long EC RF US N 1 N N N MFS Commodity Strategy Fund 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Quarterly Report
January 31, 2024
MFS®  Lifetime®  2060 Fund
ML6-Q3
Portfolio of Investments
1/31/24 (unaudited)
The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.
Issuer     Shares/Par Value ($)
Investment Companies (h) – 99.2%
Bond Funds – 4.5%
MFS Inflation-Adjusted Bond Fund - Class R6     467,311 $4,271,219
MFS Total Return Bond Fund - Class R6     379,135 3,613,157
        $7,884,376
International Stock Funds – 28.1%
MFS Blended Research Emerging Markets Equity Fund - Class R6     146,035 $1,761,177
MFS Blended Research International Equity Fund - Class R6     1,613,035 19,356,414
MFS Emerging Markets Equity Fund - Class R6     57,335 1,757,898
MFS International Growth Fund - Class R6     153,831 6,140,945
MFS International Intrinsic Value Fund - Class R6     164,580 6,143,766
MFS International New Discovery Fund - Class R6     229,638 7,063,681
MFS Research International Fund - Class R6     323,129 7,047,442
        $49,271,323
Non-Traditional Funds – 10.0%
MFS Commodity Strategy Fund - Class R6     2,521,280 $8,849,694
MFS Global Real Estate Fund - Class R6     542,593 8,800,860
        $17,650,554
U.S. Stock Funds – 55.2%
MFS Blended Research Core Equity Fund - Class R6     246,231 $8,064,068
MFS Blended Research Growth Equity Fund - Class R6     443,979 8,910,662
MFS Blended Research Mid Cap Equity Fund - Class R6     1,326,528 17,470,369
MFS Blended Research Small Cap Equity Fund - Class R6     289,693 4,336,709
MFS Blended Research Value Equity Fund - Class R6     634,920 9,631,733
MFS Growth Fund - Class R6     49,118 8,897,686
MFS Mid Cap Growth Fund - Class R6 (a)     295,456 8,727,770
MFS Mid Cap Value Fund - Class R6     288,717 8,745,253
MFS New Discovery Fund - Class R6 (a)     75,494 2,177,988
MFS New Discovery Value Fund - Class R6     126,339 2,170,499
MFS Research Fund - Class R6     149,807 8,064,118
MFS Value Fund - Class R6     203,611 9,673,580
        $96,870,435
Money Market Funds – 1.4%  
MFS Institutional Money Market Portfolio, 5.4% (v)     2,434,456 $2,434,699
Total Investment Companies $174,111,387
 
Other Assets, Less Liabilities – 0.8%   1,373,725
Net Assets – 100.0% $175,485,112
(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 value of the fund’s investments in affiliated issuers was $174,111,387.      
(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
1/31/24 (unaudited)
The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.
(1) Investment Valuations
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.
Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund’s investments to MFS as the fund's adviser, pursuant to the fund’s valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the “valuation designee” of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser’s fair valuation policy and procedures.
Under the fund's valuation policy and procedures, 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. 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.
Under the fund’s valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser’s fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment’s value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund’s net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. 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 significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of January 31, 2024 in valuing the fund's assets and liabilities:
Financial Instruments Level 1 Level 2 Level 3 Total
Mutual Funds $174,111,387 $— $— $174,111,387
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 $6,332,387 $1,477,042 $877,117 $(49,808) $1,181,564 $8,064,068
MFS Blended Research Emerging Markets Equity Fund 1,265,721 547,689 27,895 (5,373) (18,965) 1,761,177
MFS Blended Research Growth Equity Fund 6,976,170 1,436,205 1,435,427 (19,009) 1,952,723 8,910,662
MFS Blended Research International Equity Fund 13,905,966 5,369,304 177,358 (12,022) 270,524 19,356,414
MFS Blended Research Mid Cap Equity Fund 12,643,201 3,581,075 739,515 (28,201) 2,013,809 17,470,369
MFS Blended Research Small Cap Equity Fund 3,162,803 999,307 385,587 (27,966) 588,152 4,336,709
MFS Blended Research Value Equity Fund 6,958,583 2,242,222 355,981 (6,017) 792,926 9,631,733
MFS Commodity Strategy Fund 6,312,944 3,248,911 587,398 (211,491) 86,728 8,849,694
MFS Emerging Markets Equity Fund 1,271,630 558,886 30,441 (5,266) (36,911) 1,757,898
MFS Global Real Estate Fund 6,360,165 2,938,176 603,672 (125,953) 232,144 8,800,860
MFS Growth Fund 7,012,940 1,984,222 1,587,835 18,815 1,469,544 8,897,686
MFS Inflation-Adjusted Bond Fund 3,161,427 1,521,068 272,624 (65,525) (73,127) 4,271,219
MFS Institutional Money Market Portfolio 32,073 4,751,387 2,348,805 12 32 2,434,699
MFS International Growth Fund 4,426,105 1,854,877 109,845 (9,230) (20,962) 6,140,945
MFS International Intrinsic Value Fund 4,423,467 2,183,266 110,455 (35,006) (317,506) 6,143,766
MFS International New Discovery Fund 5,060,646 2,272,253 152,454 (31,624) (85,140) 7,063,681
MFS Mid Cap Growth Fund 6,322,339 1,773,701 474,663 (30,712) 1,137,105 8,727,770
MFS Mid Cap Value Fund 6,327,327 2,226,418 267,935 (9,475) 468,918 8,745,253
MFS New Discovery Fund 1,581,251 587,526 120,045 (37,257) 166,513 2,177,988
MFS New Discovery Value Fund 1,581,803 700,291 151,201 (19,018) 58,624 2,170,499
MFS Research Fund 6,335,064 1,958,043 837,228 (69,463) 677,702 8,064,118
MFS Research International Fund 5,057,463 2,035,740 95,675 (4,863) 54,777 7,047,442
MFS Total Return Bond Fund 3,163,867 1,245,308 781,962 (171,079) 157,023 3,613,157
MFS Value Fund 6,956,260 2,934,033 268,502 (21,012) 72,801 9,673,580
  $126,631,602 $50,426,950 $12,799,620 $(976,543) $10,828,998 $174,111,387
Affiliated Issuers Dividend
Income 		Capital Gain
Distributions
MFS Blended Research Core Equity Fund $78,855 $224,050
MFS Blended Research Emerging Markets Equity Fund 45,912 —
MFS Blended Research Growth Equity Fund 58,757 —
MFS Blended Research International Equity Fund 516,741 —
MFS Blended Research Mid Cap Equity Fund 195,933 203,745
MFS Blended Research Small Cap Equity Fund 37,254 —
MFS Blended Research Value Equity Fund 138,111 189,169
MFS Commodity Strategy Fund 183,175 —
MFS Emerging Markets Equity Fund 44,689 —
MFS Global Real Estate Fund 162,850 —
MFS Growth Fund — 399,092
MFS Inflation-Adjusted Bond Fund 144,070 —
3
Supplemental Information (unaudited) – continued
Affiliated Issuers − continued Dividend
Income 		Capital Gain
Distributions
MFS Institutional Money Market Portfolio $31,895 $—
MFS International Growth Fund 98,801 65,710
MFS International Intrinsic Value Fund 116,081 516,005
MFS International New Discovery Fund 127,901 143,369
MFS Mid Cap Growth Fund — —
MFS Mid Cap Value Fund 129,575 114,468
MFS New Discovery Fund — —
MFS New Discovery Value Fund 53,739 70,672
MFS Research Fund 64,511 451,570
MFS Research International Fund 122,035 —
MFS Total Return Bond Fund 117,454 —
MFS Value Fund 119,433 565,321
  $2,587,772 $2,943,171
4
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