0001752724-24-066462.txt : 20240326 0001752724-24-066462.hdr.sgml : 20240326 20240326082025 ACCESSION NUMBER: 0001752724-24-066462 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: 24781004 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 S000038775 MFS Lifetime 2045 Fund C000119439 A LTMAX C000119440 B LTMBX C000119441 C LTMDX C000119442 I LTMKX 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MFS Blended Research Core Equity Fund SQK3NYUBFBKJ3GF1IO09 MFS Blended Research Core Equity Fund 55273W483 668215.79000000 NS USD 21884067.12000000 4.587981275872 Long EC RF US N 1 N N N MFS Emerging Markets Equity Fund GLINMRWNKCBOHYKQ2131 MFS Emerging Markets Equity Fund 552746331 129922.86000000 NS USD 3983434.73000000 0.835124652775 Long EC RF US N 1 N N N MFS Growth Fund K4ZYIH3WSXKUSPKIPM59 MFS Growth Fund 552985673 128778.88000000 NS USD 23328293.93000000 4.890762542538 Long EC RF US N 1 N N N MFS International New Discovery Fund RC53GXLQZ5LVIZBRHR66 MFS International New Discovery Fund 552981383 520365.77000000 NS USD 16006451.15000000 3.355742685611 Long EC RF US N 1 N N N MFS New Discovery Value Fund LRMRW30Z8FYTIFW1W860 MFS New Discovery Value Fund 552982696 319568.20000000 NS USD 5490181.59000000 1.151013209653 Long EC RF US N 1 N N N MFS Blended Research Value Equity Fund 549300QL66OEPI6JSE90 MFS Blended Research Value Equity Fund 552746133 1673234.13000000 NS USD 25382961.72000000 5.321522386993 Long EC RF US N 1 N N N MFS High Income Fund DMVGFZCV67YA34LSI126 MFS High Income Fund 552984684 2096418.60000000 NS USD 6415040.91000000 1.344909399959 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 732525.51000000 NS USD 10965906.90000000 2.298995669053 Long EC RF US N 1 N N N MFS International Intrinsic Value Fund 7540QFSKYNTDFH7HAK24 MFS International Intrinsic Value Fund 552746349 404897.26000000 NS USD 15114814.53000000 3.168811614023 Long EC RF US N 1 N N N MFS Mid Cap Growth Fund XPX0WXKIO6CLKBLYF666 MFS Mid Cap Growth Fund 552987554 775370.41000000 NS USD 22904441.91000000 4.801902225996 Long EC RF US N 1 N N N MFS Global Real Estate Fund ROYDM6SL56ZXYAENS860 MFS Global Real Estate Fund 552982720 1377022.21000000 NS USD 22335300.18000000 4.682582010689 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 3482202.44000000 NS USD 45860606.12000000 9.614648000528 Long EC RF US N 1 N N N MFS New Discovery Fund ZVEMRLDGMDO1D1VDSU87 MFS New Discovery Fund 55273H346 191174.94000000 NS USD 5515397.08000000 1.156299621696 Long EC RF US N 1 N N N MFS Institutional Money Market Portfolio 5L2W638H85N8T1136O07 MFS Institutional Money Market Portfolio 55291X109 6539222.99000000 NS USD 6539876.91000000 1.371081190944 Long STIV RF US N 1 N N N MFS Blended Research Growth Equity Fund 549300M0GLI3GVVPMM34 MFS Blended Research Growth Equity Fund 552743783 1164601.62000000 NS USD 23373554.41000000 4.900251374465 Long EC RF US N 1 N N N MFS Research Fund XFPOOG2XVG5TW1LZ8588 MFS Research Fund 552981391 406543.71000000 NS USD 21884247.75000000 4.588019144841 Long EC RF US N 1 N N N MFS Research Bond Fund FJAEEQMSDDUK9QL2E558 MFS Research Bond Fund 55274K603 1111421.89000000 NS USD 10591850.64000000 2.220575003114 Long EC RF US N 1 N N N MFS Global Opportunistic Bond Fund XE280U8NKIY4V6K1JN70 MFS Global Opportunistic Bond Fund 552743882 597674.62000000 NS USD 4829210.89000000 1.012441106996 Long EC RF US N 1 N N N MFS Value Fund HV6C0RMURVKFUQ3UTB42 MFS Value Fund 55273H353 536863.68000000 NS USD 25506393.39000000 5.347399761053 Long EC RF US N 1 N N N MFS Inflation Adjusted Bond Fund VOHO802M9IKG3IZTEN75 MFS Inflation Adjusted Bond Fund 55274K884 1711731.52000000 NS USD 15645226.07000000 3.280012068705 Long EC RF US N 1 N N N MFS Commodity Strategy Fund T0OEQ8I3F6DXUJCOV412 MFS Commodity Strategy Fund 55276T826 6398641.65000000 NS USD 22459232.18000000 4.708564278627 Long EC RF US N 1 N N N MFS Blended Research Emerging Markets Equity Fund 549300N4Y1QEM5QDU861 MFS Blended Research Emerging Markets Equity Fund 552987240 330917.36000000 NS USD 3990863.33000000 0.836682054218 Long EC RF US N 1 N N N MFS Blended Research International Equity Fund 5493006W0U1M8BQLTQ30 MFS Blended Research International Equity Fund 552987448 4053784.82000000 NS USD 48645417.80000000 10.19848206458 Long EC RF US N 1 N N N MFS Mid Cap Value Fund BXHSCSBXYY1DOHP6E209 MFS Mid Cap Value Fund 55273W475 758184.89000000 NS USD 22965420.20000000 4.814686287168 Long EC RF US N 1 N N N MFS Emerging Markets Debt Local Currency Fund 5493001KPK8UJ27DMD68 MFS Emerging Markets Debt Local Currency Fund 552746323 569719.44000000 NS USD 3218914.85000000 0.674843527916 Long EC RF US N 1 N N N MFS International Growth Fund PTNAY8DC4VJYOKVJ5B83 MFS International Growth Fund 552746356 378453.80000000 NS USD 15107875.62000000 3.167356875789 Long EC RF US N 1 N N N 2024-03-04 MFS SERIES TRUST XII Kasey Phillips Kasey Phillips Assistant Treasurer XXXX GRAPHIC 2 imgf301f57d2.gif begin 644 imgf301f57d2.gif M1TE&.#EA[@(9 / ((M0@ "'Y! $ $ + #N AD +^A(^IR^T/ MHYRTVHNSWKS[#X;B2);FB:;JRK;N"\?R3-?VC>?ZSO=J P*A\2B\8A,*I?, MIO,)C4JGU*KUBLUJM]RNM^L+BR'?LOF,3JO7[+;[#8\;Q_0Z0([/Z_?\OO\/ MB&(B8J+C(V-A$"'GC.$E9:7F)F8D4R1FC^0D:*CI*NM5YNE*JNLK: 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Quarterly Report
January 31, 2024
MFS®  Lifetime®  2045 Fund
L45-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 – 9.5%
MFS Emerging Markets Debt Fund - Class R6     410,954 $4,845,151
MFS Emerging Markets Debt Local Currency Fund - Class R6     572,179 3,232,814
MFS Global Opportunistic Bond Fund - Class R6     599,533 4,844,228
MFS High Income Fund - Class R6     2,106,908 6,447,137
MFS Inflation-Adjusted Bond Fund - Class R6     1,711,732 15,645,226
MFS Total Return Bond Fund - Class R6     1,115,723 10,632,838
        $45,647,394
International Stock Funds – 25.4%
MFS Blended Research Emerging Markets Equity Fund - Class R6     330,917 $3,990,863
MFS Blended Research International Equity Fund - Class R6     4,053,785 48,645,418
MFS Emerging Markets Equity Fund - Class R6     129,923 3,983,435
MFS International Growth Fund - Class R6     378,505 15,109,933
MFS International Intrinsic Value Fund - Class R6     404,920 15,115,651
MFS International New Discovery Fund - Class R6     520,366 16,006,451
MFS Research International Fund - Class R6     842,013 18,364,313
        $121,216,064
Non-Traditional Funds – 9.4%
MFS Commodity Strategy Fund - Class R6     6,398,642 $22,459,233
MFS Global Real Estate Fund - Class R6     1,377,022 22,335,300
        $44,794,533
U.S. Stock Funds – 53.5%
MFS Blended Research Core Equity Fund - Class R6     669,672 $21,931,751
MFS Blended Research Growth Equity Fund - Class R6     1,168,213 23,446,030
MFS Blended Research Mid Cap Equity Fund - Class R6     3,487,507 45,930,475
MFS Blended Research Small Cap Equity Fund - Class R6     735,346 11,008,129
MFS Blended Research Value Equity Fund - Class R6     1,674,477 25,401,816
MFS Growth Fund - Class R6     129,240 23,411,850
MFS Mid Cap Growth Fund - Class R6 (a)     776,767 22,945,702
MFS Mid Cap Value Fund - Class R6     759,054 22,991,765
MFS New Discovery Fund - Class R6 (a)     191,632 5,528,573
MFS New Discovery Value Fund - Class R6     320,694 5,509,526
MFS Research Fund - Class R6     407,429 21,931,887
MFS Value Fund - Class R6     536,864 25,506,393
        $255,543,897
Money Market Funds – 1.4%  
MFS Institutional Money Market Portfolio, 5.4% (v)     6,566,606 $6,567,263
Total Investment Companies $473,769,151
 
Other Assets, Less Liabilities – 0.8%   3,919,014
Net Assets – 100.0% $477,688,165
(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 $473,769,151.      
(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 $473,769,151 $— $— $473,769,151
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 $19,632,616 $1,959,288 $2,970,155 $(11,621) $3,321,623 $21,931,751
MFS Blended Research Emerging Markets Equity Fund 3,408,397 770,427 130,708 (2,317) (54,936) 3,990,863
MFS Blended Research Growth Equity Fund 21,094,731 1,692,977 4,858,020 546,354 4,969,988 23,446,030
MFS Blended Research International Equity Fund 40,420,848 8,471,254 812,176 (27,766) 593,258 48,645,418
MFS Blended Research Mid Cap Equity Fund 37,909,235 5,510,765 3,030,706 25,327 5,515,854 45,930,475
MFS Blended Research Small Cap Equity Fund 9,241,536 1,527,698 1,297,778 43,214 1,493,459 11,008,129
MFS Blended Research Value Equity Fund 21,009,775 3,080,444 850,446 (935) 2,162,978 25,401,816
MFS Commodity Strategy Fund 18,379,520 6,140,604 1,725,155 (549,801) 214,065 22,459,233
MFS Emerging Markets Debt Fund 3,026,203 1,765,110 50,992 (16,629) 121,459 4,845,151
MFS Emerging Markets Debt Local Currency Fund 2,014,988 1,214,873 17,267 (3,550) 23,770 3,232,814
MFS Emerging Markets Equity Fund 3,427,247 784,026 133,937 (1,658) (92,243) 3,983,435
MFS Global Opportunistic Bond Fund 3,016,700 1,804,090 67,911 (15,132) 106,481 4,844,228
MFS Global Real Estate Fund 18,726,248 5,156,148 1,784,180 (10,151) 247,235 22,335,300
MFS Growth Fund 21,172,671 2,978,271 4,968,945 392,926 3,836,927 23,411,850
MFS High Income Fund 4,025,673 2,352,560 96,402 (17,253) 182,559 6,447,137
MFS Inflation-Adjusted Bond Fund 12,289,077 4,463,529 561,759 (142,636) (402,985) 15,645,226
MFS Institutional Money Market Portfolio 375,108 15,914,369 9,722,210 (32) 28 6,567,263
MFS International Growth Fund 12,689,973 2,725,966 175,356 (7,183) (123,467) 15,109,933
MFS International Intrinsic Value Fund 12,655,946 3,706,532 317,793 (46,862) (882,172) 15,115,651
MFS International New Discovery Fund 13,686,098 3,054,651 417,584 (30,118) (286,596) 16,006,451
MFS Mid Cap Growth Fund 18,970,013 2,382,229 1,471,251 34,511 3,030,200 22,945,702
MFS Mid Cap Value Fund 19,054,141 3,556,881 902,900 3,277 1,280,366 22,991,765
MFS New Discovery Fund 4,623,068 962,844 397,856 (39,141) 379,658 5,528,573
MFS New Discovery Value Fund 4,629,365 1,221,356 450,241 (1,047) 110,093 5,509,526
MFS Research Fund 19,657,516 2,943,817 2,454,559 (8,144) 1,793,257 21,931,887
MFS Research International Fund 15,133,658 3,358,543 205,571 (8,147) 85,830 18,364,313
MFS Total Return Bond Fund 10,320,093 2,684,181 2,302,940 (426,399) 357,903 10,632,838
MFS Value Fund 20,972,991 5,096,222 672,489 (19,350) 129,019 25,506,393
  $391,563,435 $97,279,655 $42,847,287 $(340,263) $28,113,611 $473,769,151
Affiliated Issuers Dividend
Income 		Capital Gain
Distributions
MFS Blended Research Core Equity Fund $222,274 $631,542
MFS Blended Research Emerging Markets Equity Fund 107,317 —
MFS Blended Research Growth Equity Fund 160,931 —
MFS Blended Research International Equity Fund 1,341,869 —
MFS Blended Research Mid Cap Equity Fund 537,627 559,063
MFS Blended Research Small Cap Equity Fund 100,197 —
MFS Blended Research Value Equity Fund 378,089 517,865
MFS Commodity Strategy Fund 471,533 —
3
Supplemental Information (unaudited) – continued
Affiliated Issuers − continued Dividend
Income 		Capital Gain
Distributions
MFS Emerging Markets Debt Fund $185,306 $—
MFS Emerging Markets Debt Local Currency Fund 99,642 —
MFS Emerging Markets Equity Fund 104,341 —
MFS Global Opportunistic Bond Fund 94,317 —
MFS Global Real Estate Fund 432,156 —
MFS Growth Fund — 1,091,208
MFS High Income Fund 237,363 —
MFS Inflation-Adjusted Bond Fund 539,305 —
MFS Institutional Money Market Portfolio 90,340 —
MFS International Growth Fund 251,674 167,382
MFS International Intrinsic Value Fund 295,670 1,314,319
MFS International New Discovery Fund 302,013 338,535
MFS Mid Cap Growth Fund — —
MFS Mid Cap Value Fund 355,362 313,931
MFS New Discovery Fund — —
MFS New Discovery Value Fund 146,864 188,277
MFS Research Fund 181,394 1,269,743
MFS Research International Fund 327,675 —
MFS Total Return Bond Fund 360,906 —
MFS Value Fund 337,559 1,546,847
  $7,661,724 $7,938,712
4
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