N-Q 1 d336474dnq.htm MFS INTERMEDIATE HIGH INCOME FUND N-Q MFS INTERMEDIATE HIGH INCOME FUND N-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-05567

MFS INTERMEDIATE HIGH INCOME FUND

(Exact name of registrant as specified in charter)

111 Huntington Avenue, Boston, Massachusetts 02199

(Address of principal executive offices) (Zip code)

Christopher R. Bohane

Massachusetts Financial Services Company

111 Huntington Avenue

Boston, Massachusetts 02199

(Name and address of agents for service)

Registrant’s telephone number, including area code: (617) 954-5000

Date of fiscal year end: November 30

Date of reporting period: February 28, 2017

ITEM 1. SCHEDULE OF INVESTMENTS.

QUARTERLY REPORT

February 28, 2017

 

LOGO

 

MFS® INTERMEDIATE HIGH INCOME FUND

 

LOGO

PORTFOLIO OF INVESTMENTS

2/28/17 (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 ($)  
Bonds - 130.8%                 
Aerospace - 1.6%                 
CPI International, Inc., 8.75%, 2/15/2018    $ 290,000     $ 293,625  
KLX, Inc., 5.875%, 12/01/2022 (z)      250,000       263,175  
TransDigm, Inc., 6%, 7/15/2022      55,000       56,452  
TransDigm, Inc., 6.5%, 7/15/2024      265,000       272,288  
TransDigm, Inc., 6.375%, 6/15/2026      40,000       40,400  
    

 

 

  
             $ 925,940  
Asset-Backed & Securitized - 0.0%                 
Citigroup Commercial Mortgage Trust, FRN, 5.724%, 12/10/2049    $ 275,000     $ 20,916  
Automotive - 2.4%                 
Allison Transmission, Inc., 5%, 10/01/2024 (n)    $ 300,000     $ 305,250  
Gates Global LLC, 6%, 7/15/2022 (n)      205,000       206,538  
IHO Verwaltungs GmbH, 4.75%, 9/15/2026 (n)      400,000       395,000  
ZF North America Capital, Inc., 4.5%, 4/29/2022 (n)      300,000       311,625  
ZF North America Capital, Inc., 4.75%, 4/29/2025 (n)      150,000       154,500  
    

 

 

  
             $ 1,372,913  
Broadcasting - 3.3%                 
CBS Radio, Inc., 7.25%, 11/01/2024 (n)    $ 160,000     $ 170,800  
Clear Channel Worldwide Holdings, Inc., “A”, 6.5%, 11/15/2022      85,000       85,850  
Clear Channel Worldwide Holdings, Inc., “B”, 6.5%, 11/15/2022      305,000       315,864  
iHeartMedia, Inc., 9%, 3/01/2021      173,000       140,130  
Liberty Media Corp. - Liberty Formula One, 8.5%, 7/15/2029      250,000       277,500  
Liberty Media Corp. - Liberty Formula One, 8.25%, 2/01/2030      10,000       10,700  
Match Group, Inc., 6.375%, 6/01/2024      175,000       189,000  
Netflix, Inc., 5.375%, 2/01/2021      250,000       268,125  
Netflix, Inc., 5.875%, 2/15/2025      145,000       156,781  
Netflix, Inc., 4.375%, 11/15/2026 (n)      125,000       123,906  
WMG Acquisition Corp., 4.875%, 11/01/2024 (z)      125,000       126,563  
    

 

 

  
             $ 1,865,219  
Building - 5.0%                 
ABC Supply Co., Inc., 5.75%, 12/15/2023 (z)    $ 210,000     $ 220,500  
Allegion PLC, 5.875%, 9/15/2023      117,000       125,190  
Allegion U.S. Holding Co., Inc., 5.75%, 10/01/2021      380,000       397,100  
Beacon Roofing Supply, Inc., 6.375%, 10/01/2023      290,000       313,563  
Gibraltar Industries, Inc., 6.25%, 2/01/2021      250,000       258,125  
HD Supply, Inc., 5.75%, 4/15/2024 (n)      270,000       285,525  
PriSo Acquisition Corp., 9%, 5/15/2023 (n)      280,000       284,900  
Standard Industries, Inc., 5.375%, 11/15/2024 (n)      380,000       390,602  
Standard Industries, Inc., 6%, 10/15/2025 (n)      155,000       164,688  
Summit Materials LLC/Summit Materials Finance Co., 6.125%, 7/15/2023      400,000       416,000  
    

 

 

  
             $ 2,856,193  
Business Services - 2.4%                 
Alliance Data Systems Corp., 5.875%, 11/01/2021 (n)    $ 260,000     $ 269,100  
Alliance Data Systems Corp., 5.375%, 8/01/2022 (n)      60,000       59,700  
Equinix, Inc., 4.875%, 4/01/2020      190,000       194,750  
Equinix, Inc., 5.375%, 1/01/2022      70,000       73,938  
Equinix, Inc., 5.375%, 4/01/2023      240,000       249,000  
Equinix, Inc., 5.75%, 1/01/2025      40,000       42,400  
Iron Mountain, Inc., REIT, 6%, 10/01/2020 (n)      120,000       126,035  

 

1

Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Business Services - continued                 
Iron Mountain, Inc., REIT, 6%, 8/15/2023    $ 320,000     $ 338,688  
    

 

 

  
             $ 1,353,611  
Cable TV - 8.4%                 
Altice Financing S.A., 6.625%, 2/15/2023 (n)    $ 480,000     $ 505,200  
Altice U.S. Finance I Corp., 5.5%, 5/15/2026 (n)      200,000       206,750  
CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 5/01/2023 (n)      340,000       352,750  
CCO Holdings LLC/CCO Holdings Capital Corp., 5.75%, 1/15/2024      425,000       446,038  
CCO Holdings LLC/CCO Holdings Capital Corp., 5.375%, 5/01/2025 (n)      80,000       83,800  
CCO Holdings LLC/CCO Holdings Capital Corp., 5.75%, 2/15/2026 (n)      125,000       133,750  
Cequel Communications Holdings, 6.375%, 9/15/2020 (n)      275,000       283,422  
CSC Holdings LLC, 5.5%, 4/15/2027 (n)      400,000       411,500  
DISH DBS Corp., 5%, 3/15/2023      190,000       195,225  
DISH DBS Corp., 5.875%, 11/15/2024      310,000       330,150  
Intelsat Jackson Holdings S.A., 7.25%, 4/01/2019      125,000       119,688  
Intelsat Jackson Holdings S.A., 5.5%, 8/01/2023      140,000       115,150  
Intelsat Jackson Holdings S.A., 8%, 2/15/2024 (n)      65,000       70,525  
LGE Holdco VI B.V., 7.125%, 5/15/2024 (n)    EUR   135,000       163,220  
Sirius XM Radio, Inc., 4.625%, 5/15/2023 (n)    $ 125,000       127,813  
Sirius XM Radio, Inc., 6%, 7/15/2024 (n)      325,000       346,125  
Sirius XM Radio, Inc., 5.375%, 4/15/2025 (n)      165,000       168,300  
Unitymedia Hessen, 5.5%, 1/15/2023 (n)      250,000       261,250  
Virgin Media Finance PLC, 5.75%, 1/15/2025 (n)      200,000       205,250  
Ziggo Bond Finance B.V., 5.875%, 1/15/2025 (n)      200,000       203,250  
    

 

 

  
      $ 4,729,156  
Chemicals - 2.8%                 
Axalta Coating Systems Co., 4.875%, 8/15/2024 (n)    $ 300,000     $ 306,000  
Chemours Co., 6.625%, 5/15/2023      165,000       175,106  
Chemours Co., 7%, 5/15/2025      65,000       70,606  
GCP Applied Technologies Co., 9.5%, 2/01/2023 (n)      205,000       232,634  
Tronox Finance LLC, 6.375%, 8/15/2020      270,000       274,725  
Tronox Finance LLC, 7.5%, 3/15/2022 (n)      245,000       256,025  
W.R. Grace & Co., 5.125%, 10/01/2021 (n)      245,000       257,863  
    

 

 

  
      $ 1,572,959  
Computer Software - 1.7%                 
Diamond 1 Finance Corp./Diamond 2 Finance Corp., 6.02%, 6/15/2026 (n)    $ 235,000     $ 258,400  
Diamond 1 Finance Corp./Diamond 2 Finance Corp., 5.875%, 6/15/2021 (n)      90,000       95,233  
Nuance Communications, Inc., 5.625%, 12/15/2026 (n)      250,000       255,313  
VeriSign, Inc., 4.625%, 5/01/2023      330,000       336,600  
    

 

 

  
      $ 945,546  
Computer Software - Systems - 2.4%                 
CDW LLC/CDW Finance Corp., 6%, 8/15/2022    $ 140,000     $ 148,225  
CDW LLC/CDW Finance Corp., 5.5%, 12/01/2024      125,000       131,250  
CDW LLC/CDW Finance Corp., 5%, 9/01/2025      30,000       30,431  
JDA Software Group, Inc., 7.375%, 10/15/2024 (n)      255,000       267,750  
Sabre GLBL, Inc., 5.375%, 4/15/2023 (n)      415,000       422,263  
Western Digital Corp., 10.5%, 4/01/2024      290,000       339,300  
    

 

 

  
      $ 1,339,219  
Conglomerates - 4.5%                 
Amsted Industries Co., 5%, 3/15/2022 (n)    $ 495,000     $ 499,950  
Apex Tool Group, 7%, 2/01/2021 (n)      285,000       273,600  

 

2

Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Conglomerates - continued                 
EnerSys, 5%, 4/30/2023 (n)    $ 485,000     $ 493,488  
Enpro Industries, Inc., 5.875%, 9/15/2022      330,000       340,313  
Entegris, Inc., 6%, 4/01/2022 (n)      360,000       375,300  
Gardner Denver, Inc., 6.875%, 8/15/2021 (n)      265,000       272,950  
SPX FLOW, Inc., 5.625%, 8/15/2024 (n)      260,000       267,150  
    

 

 

  
      $ 2,522,751  
Construction - 0.1%                 
Empresas ICA S.A.B. de C.V., 8.9%, 2/04/2021 (a)(d)    $ 135,000     $ 31,202  
Consumer Products - 1.4%                 
NBTY, Inc., 7.625%, 5/15/2021 (n)    $ 320,000     $ 338,000  
Prestige Brands, Inc., 5.375%, 12/15/2021 (n)      230,000       236,900  
Spectrum Brands, Inc., 6.125%, 12/15/2024      40,000       42,564  
Spectrum Brands, Inc., 5.75%, 7/15/2025      185,000       196,563  
    

 

 

  
      $ 814,027  
Consumer Services - 4.4%                 
ADT Corp., 6.25%, 10/15/2021    $ 510,000     $ 556,538  
ADT Corp., 4.125%, 6/15/2023      85,000       81,813  
Garda World Security Corp., 7.25%, 11/15/2021 (n)      155,000       148,413  
Garda World Security Corp., 7.25%, 11/15/2021 (n)      225,000       214,875  
Interval Acquisition Corp., 5.625%, 4/15/2023      495,000       511,088  
Mobile Mini, Inc., 5.875%, 7/01/2024      275,000       287,375  
Monitronics International, Inc., 9.125%, 4/01/2020      240,000       238,800  
Service Corp. International, 5.375%, 5/15/2024      190,000       201,286  
ServiceMaster Co. LLC, 5.125%, 11/15/2024 (n)      245,000       249,288  
    

 

 

  
      $ 2,489,476  
Containers - 5.4%                 
Berry Plastics Group, Inc., 5.5%, 5/15/2022    $ 335,000     $ 349,238  
Berry Plastics Group, Inc., 6%, 10/15/2022      165,000       174,694  
Crown American LLC, 4.5%, 1/15/2023      326,000       334,558  
Crown American LLC, 4.25%, 9/30/2026 (n)      125,000       120,469  
Multi-Color Corp., 6.125%, 12/01/2022 (n)      385,000       402,325  
Plastipak Holdings, Inc., 6.5%, 10/01/2021 (n)      351,000       366,795  
Reynolds Group, 5.75%, 10/15/2020      130,000       133,900  
Reynolds Group, 5.125%, 7/15/2023 (n)      180,000       186,525  
Reynolds Group, 7%, 7/15/2024 (n)      155,000       166,722  
Sealed Air Corp., 4.875%, 12/01/2022 (n)      335,000       346,306  
Sealed Air Corp., 5.125%, 12/01/2024 (n)      95,000       99,275  
Signode Industrial Group, 6.375%, 5/01/2022 (n)      310,000       318,525  
Silgan Holdings, Inc., 5.5%, 2/01/2022      20,000       20,625  
Silgan Holdings, Inc., 4.75%, 3/15/2025 (n)      30,000       30,188  
    

 

 

  
      $ 3,050,145  
Electronics - 0.8%                 
Sensata Technologies B.V., 5.625%, 11/01/2024 (n)    $ 155,000     $ 163,525  
Sensata Technologies B.V., 5%, 10/01/2025 (n)      260,000       263,900  
    

 

 

  
      $ 427,425  
Energy - Independent - 7.2%                 
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp., 7.875%, 12/15/2024 (z)    $ 265,000     $ 280,238  
Carrizo Oil & Gas, Inc., 6.25%, 4/15/2023      350,000       354,375  
Concho Resources, Inc., 5.5%, 4/01/2023      285,000       294,975  

 

3

Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Energy - Independent - continued                 
Consol Energy, Inc., 5.875%, 4/15/2022    $ 160,000     $ 156,000  
Consol Energy, Inc., 8%, 4/01/2023      295,000       307,538  
Continental Resources, Inc., 4.5%, 4/15/2023      340,000       333,200  
Diamondback Energy, Inc., 5.375%, 5/31/2025 (n)      300,000       310,500  
Gulfport Energy Corp., 6%, 10/15/2024 (n)      230,000       228,850  
Gulfport Energy Corp., 6.375%, 5/15/2025 (z)      85,000       85,425  
PDC Energy, Inc., 6.125%, 9/15/2024 (n)      255,000       263,288  
Range Resources Corp., 4.875%, 5/15/2025      380,000       359,575  
Rice Energy, Inc., 7.25%, 5/01/2023      310,000       327,825  
Sanchez Energy Corp., 6.125%, 1/15/2023      275,000       264,000  
Seven Generations Energy, 8.25%, 5/15/2020 (n)      155,000       163,138  
Whiting Petroleum Corp., 6.25%, 4/01/2023      330,000       330,825  
    

 

 

  
      $ 4,059,752  
Energy - Integrated - 0.3%                 
Cenovus Energy, Inc., 6.75%, 11/15/2039    $ 157,000     $ 177,378  
Entertainment - 2.2%                 
Cedar Fair LP, 5.25%, 3/15/2021    $ 260,000     $ 267,475  
Cedar Fair LP, 5.375%, 6/01/2024      95,000       98,325  
Cinemark USA, Inc., 5.125%, 12/15/2022      165,000       169,950  
Cinemark USA, Inc., 4.875%, 6/01/2023      230,000       235,750  
Six Flags Entertainment Corp., 5.25%, 1/15/2021 (n)      320,000       328,960  
Six Flags Entertainment Corp., 4.875%, 7/31/2024 (z)      145,000       146,450  
    

 

 

  
      $ 1,246,910  
Financial Institutions - 6.6%                 
Aircastle Ltd., 4.625%, 12/15/2018    $ 175,000     $ 181,563  
Aircastle Ltd., 5.125%, 3/15/2021      125,000       133,438  
Aircastle Ltd., 5.5%, 2/15/2022      235,000       253,506  
CIT Group, Inc., 6.625%, 4/01/2018 (n)      319,000       334,153  
CIT Group, Inc., 5.5%, 2/15/2019 (n)      280,000       295,050  
Credit Acceptance Corp., 7.375%, 3/15/2023      265,000       273,281  
Nationstar Mortgage LLC/Capital Corp., 6.5%, 8/01/2018      175,000       177,625  
Nationstar Mortgage LLC/Capital Corp., 7.875%, 10/01/2020      520,000       542,100  
Nationstar Mortgage LLC/Capital Corp., 6.5%, 7/01/2021      120,000       122,700  
Navient Corp., 8%, 3/25/2020      515,000       558,708  
Navient Corp., 7.25%, 1/25/2022      350,000       364,875  
Navient Corp., 7.25%, 9/25/2023      90,000       92,250  
Navient Corp., 6.125%, 3/25/2024      105,000       100,538  
Park Aerospace Holdings Ltd., 5.5%, 2/15/2024 (n)      265,000       276,978  
    

 

 

  
      $ 3,706,765  
Food & Beverages - 2.4%                 
Aramark Services, Inc. Co., 4.75%, 6/01/2026    $ 190,000     $ 190,475  
JBS USA LLC/JBS USA Finance, Inc., 5.875%, 7/15/2024 (n)      330,000       344,850  
Lamb Weston Holdings, Inc., 4.625%, 11/01/2024 (n)      115,000       117,013  
Lamb Weston Holdings, Inc., 4.875%, 11/01/2026 (n)      60,000       60,930  
Pinnacle Foods Finance LLC/Pinnacle Foods Finance Corp., 5.875%, 1/15/2024      250,000       264,375  
U.S. Foods Holding Corp., 5.875%, 6/15/2024 (n)      350,000       367,500  
    

 

 

  
      $ 1,345,143  
Forest & Paper Products - 0.1%                 
Appvion, Inc., 9%, 6/01/2020 (n)    $ 140,000     $ 79,100  

 

4

Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Gaming & Lodging - 4.7%                 
CCM Merger, Inc., 9.125%, 5/01/2019 (n)    $ 186,000     $ 191,812  
GLP Capital LP/GLP Financing II, Inc., 5.375%, 11/01/2023      340,000       364,310  
GLP Capital LP/GLP Financing II, Inc., 5.375%, 4/15/2026      40,000       41,850  
Greektown Holdings LLC, 8.875%, 3/15/2019 (n)      285,000       298,894  
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 5.625%, 10/15/2021      415,000       427,309  
Isle of Capri Casinos, Inc., 8.875%, 6/15/2020      80,000       83,500  
Isle of Capri Casinos, Inc., 5.875%, 3/15/2021      325,000       335,563  
MGM Resorts International, 6.625%, 12/15/2021      180,000       200,925  
MGM Resorts International, 6%, 3/15/2023      225,000       245,250  
Ryman Hospitality Properties, Inc., REIT, 5%, 4/15/2021      305,000       311,863  
Ryman Hospitality Properties, Inc., REIT, 5%, 4/15/2023      140,000       142,975  
    

 

 

  
      $ 2,644,251  
Industrial - 0.7%                 
Howard Hughes Corp., 6.875%, 10/01/2021 (n)    $ 375,000     $ 394,219  
Insurance - Health - 0.7%                 
Centene Corp., 5.625%, 2/15/2021    $ 115,000     $ 121,038  
Centene Corp., 6.125%, 2/15/2024      235,000       254,975  
    

 

 

  
      $ 376,013  
Machinery & Tools - 2.2%                 
Ashtead Capital, Inc., 5.625%, 10/01/2024 (n)    $ 265,000     $ 280,900  
CNH Industrial Capital LLC, 4.375%, 11/06/2020      395,000       410,800  
CNH Industrial N.V., 4.5%, 8/15/2023      160,000       162,480  
H&E Equipment Services Co., 7%, 9/01/2022      370,000       389,425  
    

 

 

  
      $ 1,243,605  
Major Banks - 2.7%                 
Bank of America Corp., FRN, 6.1%, 12/29/2049    $ 450,000     $ 480,094  
JPMorgan Chase & Co., 6% to 8/01/2023, FRN to 12/29/2049      405,000       424,238  
Royal Bank of Scotland Group PLC, 7.5% to 8/10/2020, FRN to 12/29/2049      200,000       199,220  
UBS Group AG, 6.875%, 12/29/2049      400,000       411,941  
    

 

 

  
      $ 1,515,493  
Medical & Health Technology & Services - 9.7%                 
AmSurg Corp., 5.625%, 7/15/2022    $ 265,000     $ 275,931  
CHS/Community Health Systems, Inc., 6.875%, 2/01/2022      320,000       280,800  
DaVita, Inc., 5.125%, 7/15/2024      100,000       102,063  
DaVita, Inc., 5%, 5/01/2025      235,000       236,455  
Envision Healthcare Corp., 6.25%, 12/01/2024 (n)      95,000       100,700  
HCA, Inc., 4.25%, 10/15/2019      185,000       192,400  
HCA, Inc., 7.5%, 2/15/2022      380,000       438,425  
HCA, Inc., 5.875%, 3/15/2022      420,000       463,575  
HCA, Inc., 5%, 3/15/2024      220,000       231,825  
HCA, Inc., 5.375%, 2/01/2025      265,000       277,256  
HCA, Inc., 5.875%, 2/15/2026      130,000       139,425  
HealthSouth Corp., 5.125%, 3/15/2023      305,000       305,000  
HealthSouth Corp., 5.75%, 11/01/2024      150,000       153,000  
LifePoint Health, Inc., 5.375%, 5/01/2024 (n)      225,000       226,688  
MEDNAX, Inc., 5.25%, 12/01/2023 (n)      240,000       248,100  
Quintiles IMS Holdings, Inc., 5%, 10/15/2026 (n)      200,000       203,000  
Quorum Health Corp., 11.625%, 4/15/2023 (n)      200,000       191,500  
Tenet Healthcare Corp., 8%, 8/01/2020      480,000       490,800  
Tenet Healthcare Corp., 8.125%, 4/01/2022      360,000       377,100  

 

5

Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Medical & Health Technology & Services - continued                 
Tenet Healthcare Corp., 6.75%, 6/15/2023    $ 210,000     $ 208,163  
Universal Health Services, Inc., 7.625%, 8/15/2020      315,000       316,969  
    

 

 

  
      $ 5,459,175  
Medical Equipment - 1.1%                 
Hologic, Inc., 5.25%, 7/15/2022 (n)    $ 250,000     $ 260,625  
Teleflex, Inc., 5.25%, 6/15/2024      225,000       232,313  
Teleflex, Inc., 4.875%, 6/01/2026      105,000       105,788  
    

 

 

  
      $ 598,726  
Metals & Mining - 5.2%                 
Commercial Metals Co., 4.875%, 5/15/2023    $ 270,000     $ 276,075  
Freeport-McMoRan, Inc., 3.875%, 3/15/2023      195,000       179,400  
Freeport-McMoRan, Inc., 6.5%, 11/15/2020 (z)      30,000       30,825  
Freeport-McMoRan, Inc., 6.875%, 2/15/2023 (z)      533,000       562,315  
Freeport-McMoRan, Inc., 5.45%, 3/15/2043      95,000       81,225  
GrafTech International Co., 6.375%, 11/15/2020      210,000       178,500  
Kaiser Aluminum Corp., 5.875%, 5/15/2024      230,000       241,500  
Kinross Gold Corp., 5.125%, 9/01/2021      100,000       105,250  
Kinross Gold Corp., 5.95%, 3/15/2024      95,000       100,463  
Lundin Mining Corp., 7.5%, 11/01/2020 (n)      165,000       175,313  
Lundin Mining Corp., 7.875%, 11/01/2022 (n)      150,000       164,250  
Steel Dynamics, Inc., 5.125%, 10/01/2021      100,000       103,125  
Steel Dynamics, Inc., 5.25%, 4/15/2023      160,000       166,616  
Steel Dynamics, Inc., 5.5%, 10/01/2024      100,000       106,380  
Suncoke Energy Partners LP/Suncoke Energy Partners Finance Corp., 7.375%, 2/01/2020      230,000       234,600  
Suncoke Energy, Inc., 7.625%, 8/01/2019      29,000       29,290  
TMS International Corp., 7.625%, 10/15/2021 (n)      210,000       210,525  
    

 

 

  
      $ 2,945,652  
Midstream - 7.1%                 
Blue Racer Midstream LLC/Blue Racer Finance Corp., 6.125%, 11/15/2022 (n)    $ 345,000     $ 351,038  
Crestwood Midstream Partners LP, 6%, 12/15/2020      225,000       231,469  
Crestwood Midstream Partners LP, 6.125%, 3/01/2022      75,000       77,531  
Energy Transfer Equity LP, 7.5%, 10/15/2020      420,000       471,975  
Ferrellgas LP/Ferrellgas Finance Corp., 6.75%, 1/15/2022      235,000       227,950  
Kinder Morgan (Delaware), Inc., 7.75%, 1/15/2032      355,000       449,638  
ONEOK, Inc., 7.5%, 9/01/2023      120,000       142,500  
Sabine Pass Liquefaction LLC, 5.625%, 2/01/2021      200,000       217,306  
Sabine Pass Liquefaction LLC, 5.625%, 4/15/2023      450,000       494,897  
Sabine Pass Liquefaction LLC, 5.75%, 5/15/2024      135,000       149,421  
Sabine Pass Liquefaction LLC, 5.625%, 3/01/2025      265,000       290,838  
Targa Resources Partners LP/Targa Resources Finance Corp., 4.125%, 11/15/2019      240,000       244,200  
Targa Resources Partners LP/Targa Resources Finance Corp., 5.25%, 5/01/2023      105,000       108,413  
Targa Resources Partners LP/Targa Resources Finance Corp., 5.375%, 2/01/2027 (n)      315,000       328,388  
Williams Cos., Inc., 4.55%, 6/24/2024      250,000       253,750  
    

 

 

  
      $ 4,039,314  
Network & Telecom - 2.5%                 
Centurylink, Inc., 6.45%, 6/15/2021    $ 140,000     $ 149,188  
Centurylink, Inc., 7.65%, 3/15/2042      170,000       155,550  
Frontier Communications Corp., 6.25%, 9/15/2021      175,000       167,125  
Frontier Communications Corp., 7.125%, 1/15/2023      65,000       58,825  
Frontier Communications Corp., 9%, 8/15/2031      285,000       252,938  
Telecom Italia Capital, 6%, 9/30/2034      70,000       69,125  

 

6

Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Network & Telecom - continued                 
Telecom Italia S.p.A., 5.303%, 5/30/2024 (n)    $ 250,000     $ 254,375  
Zayo Group LLC/Zayo Capital, Inc., 6.375%, 5/15/2025      60,000       64,650  
Zayo Group LLC/Zayo Capital, Inc., 5.75%, 1/15/2027 (n)      225,000       237,893  
    

 

 

  
      $ 1,409,669  
Oil Services - 1.3%                 
Bristow Group, Inc., 6.25%, 10/15/2022    $ 183,000     $ 158,753  
Diamond Offshore Drilling, Inc., 5.7%, 10/15/2039      75,000       63,656  
Trinidad Drilling Ltd., 6.625%, 2/15/2025 (n)      180,000       185,400  
Weatherford International Ltd., 8.25%, 6/15/2023      285,000       309,225  
    

 

 

  
      $ 717,034  
Oils - 1.0%                 
CITGO Holding, Inc., 10.75%, 2/15/2020 (n)    $ 200,000     $ 217,000  
CITGO Petroleum Corp., 6.25%, 8/15/2022 (n)      340,000       351,050  
    

 

 

  
      $ 568,050  
Other Banks & Diversified Financials - 0.5%                 
Groupe BPCE S.A., 12.5% to 9/30/2019, FRN to 8/29/2049 (n)    $ 225,000     $ 274,500  
Pharmaceuticals - 2.7%                 
Endo Finance LLC/Endo Finco, Inc., 7.25%, 1/15/2022 (n)    $ 425,000     $ 411,453  
Mallinckrodt International Finance S.A., 5.75%, 8/01/2022 (n)      295,000       289,100  
Mallinckrodt International Finance S.A., 5.5%, 4/15/2025 (n)      155,000       144,150  
Valeant Pharmaceuticals International, Inc., 7%, 10/01/2020 (n)      395,000       367,350  
Valeant Pharmaceuticals International, Inc., 7.5%, 7/15/2021 (n)      125,000       114,844  
Valeant Pharmaceuticals International, Inc., 7.25%, 7/15/2022 (n)      230,000       207,000  
    

 

 

  
      $ 1,533,897  
Precious Metals & Minerals - 1.1%                 
Eldorado Gold Corp., 6.125%, 12/15/2020 (n)    $ 350,000     $ 359,625  
Teck Resources Ltd., 4.5%, 1/15/2021      105,000       108,872  
Teck Resources Ltd., 8%, 6/01/2021 (n)      95,000       105,806  
Teck Resources Ltd., 3.75%, 2/01/2023      65,000       63,362  
    

 

 

  
      $ 637,665  
Printing & Publishing - 2.2%                 
Nielsen Finance LLC, 5%, 4/15/2022 (n)    $ 440,000     $ 453,200  
Outdoor Americas Capital LLC/Outfront Media Capital Corp., 5.625%, 2/15/2024      260,000       273,000  
TEGNA, Inc., 5.125%, 7/15/2020      185,000       191,706  
TEGNA, Inc., 4.875%, 9/15/2021 (n)      100,000       102,000  
TEGNA, Inc., 6.375%, 10/15/2023      195,000       207,675  
    

 

 

  
      $ 1,227,581  
Real Estate - Healthcare - 1.0%                 
MPT Operating Partnership LP, REIT, 6.375%, 2/15/2022    $ 320,000     $ 330,800  
MPT Operating Partnership LP, REIT, 5.25%, 8/01/2026      250,000       252,500  
    

 

 

  
      $ 583,300  
Real Estate - Other - 1.6%                 
DuPont Fabros Technology LP, REIT, 5.875%, 9/15/2021    $ 360,000     $ 375,300  
Felcor Lodging LP, REIT, 5.625%, 3/01/2023      355,000       371,820  
Starwood Property Trust, Inc., REIT, 5%, 12/15/2021 (n)      170,000       176,588  
    

 

 

  
      $ 923,708  

 

7

Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Restaurants - 0.3%                 
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 5.25%, 6/01/2026 (n)    $ 180,000     $ 186,075  
Retailers - 2.0%                 
Dollar Tree, Inc., 5.75%, 3/01/2023    $ 360,000     $ 382,050  
Hanesbrands, Inc., 4.875%, 5/15/2026 (n)      185,000       183,150  
Rite Aid Corp., 9.25%, 3/15/2020      155,000       160,038  
Rite Aid Corp., 6.75%, 6/15/2021      65,000       67,763  
Rite Aid Corp., 6.125%, 4/01/2023 (n)      170,000       180,141  
Sally Beauty Holdings, Inc., 5.625%, 12/01/2025      175,000       178,063  
    

 

 

  
      $ 1,151,205  
Specialty Chemicals - 2.4%                 
A. Schulman, Inc., 6.875%, 6/01/2023 (z)    $ 275,000     $ 290,125  
Chemtura Corp., 5.75%, 7/15/2021      435,000       451,313  
Koppers, Inc., 6%, 2/15/2025 (n)      190,000       197,600  
Univar USA, Inc., 6.75%, 7/15/2023 (n)      405,000       424,238  
    

 

 

  
      $ 1,363,276  
Specialty Stores - 1.6%                 
Argos Merger Sub, Inc., 7.125%, 3/15/2023 (n)    $ 320,000     $ 314,000  
Group 1 Automotive, Inc., 5%, 6/01/2022      330,000       339,900  
Michaels Stores, Inc., 5.875%, 12/15/2020 (n)      235,000       241,463  
    

 

 

  
      $ 895,363  
Supermarkets - 0.7%                 
Albertsons Cos. LLC/Safeway, Inc., 6.625%, 6/15/2024 (n)    $ 375,000     $ 397,500  
Telecommunications - Wireless - 5.9%                 
Altice Luxembourg S.A., 7.75%, 5/15/2022 (n)    $ 200,000     $ 212,750  
Altice Luxembourg S.A., 7.625%, 2/15/2025 (n)      200,000       213,000  
Digicel Group Ltd., 7.125%, 4/01/2022 (n)      200,000       162,054  
Digicel Group Ltd., 6.75%, 3/01/2023 (n)      225,000       207,000  
SFR Group S.A., 7.375%, 5/01/2026 (n)      250,000       259,063  
Sprint Capital Corp., 6.875%, 11/15/2028      285,000       303,881  
Sprint Corp., 7.875%, 9/15/2023      250,000       278,125  
Sprint Corp., 7.125%, 6/15/2024      410,000       442,673  
Sprint Nextel Corp., 9%, 11/15/2018 (n)      150,000       164,063  
Sprint Nextel Corp., 6%, 11/15/2022      115,000       119,012  
T-Mobile USA, Inc., 6.125%, 1/15/2022      35,000       37,013  
T-Mobile USA, Inc., 6.5%, 1/15/2024      95,000       102,078  
T-Mobile USA, Inc., 6.25%, 4/01/2021      500,000       516,080  
T-Mobile USA, Inc., 6.633%, 4/28/2021      125,000       130,025  
T-Mobile USA, Inc., 6.5%, 1/15/2026      195,000       214,256  
    

 

 

  
      $ 3,361,073  
Telephone Services - 0.8%                 
Level 3 Financing, Inc., 5.375%, 1/15/2024    $ 100,000     $ 102,625  
Level 3 Financing, Inc., 5.375%, 5/01/2025      350,000       361,375  
    

 

 

  
      $ 464,000  
Transportation - Services - 0.6%                 
Navios Maritime Holding, Inc., 7.375%, 1/15/2022 (n)    $ 210,000     $ 158,550  
Navios South American Logistics, Inc./Navios Logistics Finance (U.S.), Inc., 7.25%, 5/01/2022      45,000       42,750  
Syncreon Group BV/Syncre, 8.625%, 11/01/2021 (n)      200,000       148,000  
Ultrapetrol (Bahamas) Ltd., 8.875%, 6/15/2021 (a)(d)      55,000       11,000  
    

 

 

  
      $ 360,300  

 

8

Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Bonds - continued                 
Utilities - Electric Power - 3.1%                 
Calpine Corp., 5.5%, 2/01/2024    $ 260,000     $ 257,400  
Calpine Corp., 5.75%, 1/15/2025      180,000       178,200  
Covanta Holding Corp., 7.25%, 12/01/2020      265,000       272,288  
Covanta Holding Corp., 6.375%, 10/01/2022      70,000       72,188  
Covanta Holding Corp., 5.875%, 3/01/2024      235,000       238,525  
Dynegy, Inc., 7.375%, 11/01/2022      100,000       98,250  
Dynegy, Inc., 8%, 1/15/2025 (n)      65,000       61,750  
NRG Energy, Inc., 6.625%, 3/15/2023      330,000       334,125  
NRG Energy, Inc., 7.25%, 5/15/2026      245,000       252,044  
    

 

 

  
      $ 1,764,770  
Total Bonds     $ 73,967,160  
Floating Rate Loans (g)(r) - 3.6%                 
Aerospace - 0.2%                 
TransDigm, Inc., Term Loan C, 3.96%, 2/28/2020    $ 128,669     $ 129,216  
Broadcasting - 0.2%                 
Mission Broadcasting, Inc., Term Loan B, 3.77%, 9/26/2023 (o)    $ 7,516     $ 7,596  
Nexstar Broadcasting, Inc., Term Loan B, 3.77%, 9/26/2023 (o)      79,144       79,985  
    

 

 

  
      $ 87,581  
Building - 0.5%                 
ABC Supply Co., Inc., Term Loan B, 3.53%, 10/31/2023    $ 224,107     $ 225,663  
HD Supply, Inc., Term Loan B, 3.74%, 8/13/2021      71,396       71,864  
    

 

 

  
      $ 297,527  
Chemicals - 0.1%                 
GCP Applied Technologies, Inc., Term Loan B, 4.24%, 2/03/2022    $ 78,055     $ 78,885  
Computer Software - Systems - 0.3%                 
CDW LLC, Term Loan B, 3%, 8/17/2023    $ 93,729     $ 94,080  
Sabre, Inc., Term Loan B, 3.88%, 2/19/2019      72,200       72,365  
    

 

 

  
      $ 166,445  
Conglomerates - 0.2%                 
Entegris, Inc., Term Loan B, 3.53%, 4/30/2021    $ 121,820     $ 122,784  
Consumer Products - 0.1%                 
Spectrum Brands, Inc., Term Loan, 3.4%, 6/23/2022    $ 68,125     $ 68,868  
Entertainment - 0.3%                 
Cedar Fair LP, Term Loan B, 3.28%, 3/06/2020    $ 79,345     $ 79,841  
Six Flags Theme Parks, Inc., Term Loan B, 3.25%, 6/30/2022      72,200       72,809  
    

 

 

  
      $ 152,650  
Gaming & Lodging - 0.2%                 
Hilton Worldwide Finance LLC, Term Loan B1, 3.5%, 10/25/2020    $ 122,374     $ 123,196  
Medical & Health Technology & Services - 0.3%                 
DaVita HealthCare Partners, Inc., Term Loan B, 3.53%, 6/24/2021    $ 163,744     $ 165,620  
Printing & Publishing - 0.2%                 
CBS Outdoor Americas Capital LLC, Term Loan B, 3.03%, 1/31/2021    $ 106,580     $ 106,780  

 

9

Portfolio of Investments (unaudited) – continued

 

Issuer    Shares/Par     Value ($)  
Floating Rate Loans (g)(r) - continued                 
Retailers - 0.1%                 
Rite Aid Corp., Second Lien Term Loan, 4.87%, 6/21/2021    $ 79,361     $ 79,510  
Transportation - Services - 0.5%                 
Commercial Barge Line Co., First Lien Term Loan, 9.75%, 11/12/2020    $ 268,748     $ 254,639  
Utilities - Electric Power - 0.4%                 
Calpine Construction Finance Co. LP, Term Loan B1, 3.03%, 5/03/2020    $ 197,186     $ 197,186  
Total Floating Rate Loans     $ 2,030,887  
Common Stocks - 0.3%                 
Oil Services - 0.3%                 
LTR Holdings, Inc. (a)      200     $ 177,884  
Money Market Funds - 2.2%                 
MFS Institutional Money Market Portfolio, 0.64% (v)      1,254,719     $ 1,254,719  
Total Investments     $ 77,430,650  
Other Assets, Less Liabilities - (36.9)%       (20,872,202 ) 
Net Assets - 100.0%     $ 56,558,448  

 

(a) Non-income producing security.
(d) In default.
(g) The rate shown represents a weighted average coupon rate on settled positions at period end, unless otherwise indicated.
(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $29,715,017 representing 52.5% of net assets.
(o) All or a portion of this position has not settled. Upon settlement date, interest rates for unsettled amounts will be determined. The rate shown, if any, represents the weighted average coupon rate for settled amounts.
(r) Remaining maturities of floating rate loans may be less than stated maturities shown as a result of contractual or optional prepayments by the borrower. Such prepayments cannot be predicted with certainty. These loans may be subject to restrictions on resale. Floating rate loans generally have rates of interest which are determined periodically by reference to a base lending rate plus a premium.
(v) Underlying affiliated fund 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.
(z) Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. The fund holds the following restricted securities:

 

Restricted Securities    Acquisition
Date		    Cost      Value  
A. Schulman, Inc., 6.875%, 6/01/2023    12/02/16-1/19/17      $288,865        $290,125  
ABC Supply Co., Inc., 5.75%, 12/15/2023    1/26/17-2/22/17      219,419        220,500  
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp., 7.875%, 12/15/2024    12/02/16-1/05/17      267,910        280,238  
Freeport-McMoRan, Inc., 6.5%, 11/15/2020    5/25/16      28,643        30,825  
Freeport-McMoRan, Inc., 6.875%, 2/15/2023    10/07/16-2/21/17      561,480        562,315  
Gulfport Energy Corp., 6.375%, 5/15/2025    12/15/16      85,000        85,425  
KLX, Inc., 5.875%, 12/01/2022    1/09/17-2/21/17      262,818        263,175  
Six Flags Entertainment Corp., 4.875%, 7/31/2024    12/08/16-1/12/17      143,983        146,450  
WMG Acquisition Corp., 4.875%, 11/01/2024    2/16/17-2/23/17      126,548        126,563  
Total Restricted Securities        $2,005,616  
% of Net assets        3.5%  

 

10

Portfolio of Investments (unaudited) – continued

 

The following abbreviations are used in this report and are defined:

 

FRN   Floating Rate Note. Interest rate resets periodically and the current rate may not be the rate reported at period end.
PLC   Public Limited Company
REIT   Real Estate Investment Trust

Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of abbreviations is shown below:

 

EUR   Euro

Derivative Contracts at 2/28/17

Forward Foreign Currency Exchange Contracts at 2/28/17

 

Type    Currency      Counterparty    Contracts to
Deliver/Receive		    Settlement
Date Range		    In Exchange
For		      Contracts
at Value		      Unrealized
Appreciation
(Depreciation)		  
Asset Derivatives                    
SELL      EUR     

Citibank N.A.

    157,614    3/10/17      $169,651        $167,026        $2,625  
                    

 

 

  

See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.

 

11

Supplemental Information

2/28/17 (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

Equity securities, including restricted equity securities, 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. 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. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. 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. Open-end investment companies are generally valued at net asset value per share. 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. Values obtained from 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 halting 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. 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 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. Other financial instruments are derivative instruments not reflected in total investments, such as forward foreign currency exchange contracts. The following is a summary of the levels used as of February 28, 2017 in valuing the fund’s assets or liabilities:

 

Investments at Value    Level 1      Level 2      Level 3      Total  
Equity Securities      $—        $—        $177,884        $177,884  
U.S. Corporate Bonds      —        65,305,637        —        65,305,637  
Commercial Mortgage-Backed Securities      —        20,916        —        20,916  
Foreign Bonds      —        8,640,607        —        8,640,607  
Floating Rate Loans      —        2,030,887        —        2,030,887  
Mutual Funds      1,254,719        —        —        1,254,719  
Total Investments      $1,254,719        $75,998,047        $177,884        $77,430,650  
Other Financial Instruments                            
Forward Foreign Currency Exchange Contracts - Assets      $—        $2,625        $—        $2,625  

For further information regarding security characteristics, see the Portfolio of Investments.

 

12

Supplemental Information (unaudited) – continued

 

The following is a reconciliation of level 3 assets for which significant unobservable inputs were used to determine fair value. The fund’s policy is to recognize transfers between the levels as of the end of the period. The table presents the activity of level 3 securities held at the beginning and the end of the period.

 

     Equity Securities  
Balance as of 11/30/16      $—  

Change in unrealized appreciation (depreciation)

      105,884  

Received from a corporate action

      72,000  
Balance as of 2/28/17      $177,884  

The net change in unrealized appreciation (depreciation) from investments held as level 3 at February 28, 2017 is $105,884. At February 28, 2017, the fund held 1 level 3 security.

(2) Portfolio Securities

The cost and unrealized appreciation and depreciation in the value of the investments owned by the fund, as computed on a federal income tax basis, are as follows:

 

Aggregate cost      $76,220,644  
Gross unrealized appreciation      2,361,481  
Gross unrealized depreciation      (1,151,475 ) 
Net unrealized appreciation (depreciation)      $1,210,006  

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

(3) Transactions in Underlying Affiliated Funds – 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 fund assumes the following to be an affiliated issuer:

 

Underlying Affiliated Fund    Beginning
Shares/Par
Amount		      Acquisitions
Shares/Par
Amount		      Dispositions
Shares/Par
Amount		      Ending
Shares/Par
Amount		  
MFS Institutional Money Market Portfolio      1,760,699        4,627,441        (5,133,421 )       1,254,719  
Underlying Affiliated Fund    Realized
Gain (Loss)		      Capital Gain
Distributions		      Dividend
Income		      Ending
Value		  
MFS Institutional Money Market Portfolio      $—        $—        $2,289        $1,254,719  

 

13

ITEM 2. CONTROLS AND PROCEDURES.

 

(a) Based upon their evaluation of the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) as conducted within 90 days of the filing date of this Form N-Q, the registrant’s principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

 

(b) There were no changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

ITEM 3. EXHIBITS.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2): Attached hereto.

Notice

A copy of the Agreement and Declaration of Trust, as amended, of the Registrant is on file with the Secretary of State of The Commonwealth of Massachusetts and notice is hereby given that this instrument is executed on behalf of the Registrant by an officer of the Registrant as an officer and not individually and the obligations of or arising out of this instrument are not binding upon any of the Trustees or shareholders individually, but are binding only upon the assets and property of the respective constituent series of the Registrant.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: MFS INTERMEDIATE HIGH INCOME FUND

 

By (Signature and Title)*    DAVID L. DILORENZO
  David L. DiLorenzo, President

Date: April 13, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)*    DAVID L. DILORENZO
  David L. DiLorenzo, President
  (Principal Executive Officer)

Date: April 13, 2017

 

By (Signature and Title)*    JAMES O. YOST
  James O. Yost, Treasurer
  (Principal Financial Officer and Accounting Officer)

Date: April 13, 2017

 

* Print name and title of each signing officer under his or her signature.