Investment objective & strategy
As of Dec. 29, 2025 · prospectusObjective. The funds investment objective is to seek capital appreciation.
Strategy. MFS (Massachusetts Financial Services Company, the funds investment adviser) normally invests the funds assets primarily in U.S. and foreign equity securities, including emerging market equity securities. Equity securities include common stocks, depositary receipts, equity interests in real estate investment trusts (REITs), and other securities that represent an ownership interest (or right to acquire an ownership interest) in a company or other issuer. In selecting investments for the fund, MFS is not constrained by any particular investment style. MFS may invest the funds assets in the stocks of companies it believes to have above average earnings growth potential compared to other companies (growth companies), in the stocks of companies it believes are undervalued compared to their perceived worth (value companies), or … MFS (Massachusetts Financial Services Company, the funds investment adviser) normally invests the funds assets primarily in U.S. and foreign equity securities, including emerging market equity securities. Equity securities include common stocks, depositary receipts, equity interests in real estate investment trusts (REITs), and other securities that represent an ownership interest (or right to acquire an ownership interest) in a company or other issuer. In selecting investments for the fund, MFS is not constrained by any particular investment style. MFS may invest the funds assets in the stocks of companies it believes to have above average earnings growth potential compared to other companies (growth companies), in the stocks of companies it believes are undervalued compared to their perceived worth (value companies), or in a combination of growth and value companies. While MFS may invest the funds assets in securities of companies of any size, MFS primarily invests in securities of companies with small to medium capitalizations. MFS normally invests the fund's assets across different industries, sectors, countries, and regions, but MFS may invest a significant percentage of the funds assets in issuers in a single industry, sector, country, or region. MFS generally invests the fund's assets in at least three different countries and invests a percentage of the fund's net assets in securities of foreign issuers equal to at least the lesser of 40% or the percentage of foreign issuers in the MSCI All Country World Small Mid Cap Index less 15%. MFS uses an active bottom-up investment approach to buying and selling investments for the fund. Investments are selected primarily based on fundamental analysis of individual issuers. Quantitative screening tools that systematically evaluate issuers may also be considered.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MFS Institutional Money Market Portfolio, Class A | — | $2.11M | 2.97% |
| US FOODS HOLDING CORP | — | $1.54M | 2.17% |
| TECHNIPFMC PLC | — | $1.45M | 2.05% |
| STERIS PLC | — | $1.36M | 1.91% |
| ATMUS FILTRATION TECHNOLOGIES INC | — | $1.21M | 1.71% |
| MELROSE INDUSTRI | — | $1.14M | 1.61% |
| RB GLOBAL INC | — | $1.14M | 1.60% |
| TELEDYNE TECHNOLOGIES INC | — | $1.12M | 1.58% |
| BURLINGTON STORES INC | — | $1.08M | 1.53% |
| CBOE GLOBAL MARKETS INC | — | $1.07M | 1.51% |
Portfolio moves
Nov 30, 2025 → Feb 28, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| MFS International New Discovery Fund · MIDAX, MIDJX, MIDBX, MIDCX, MWNIX, MIDGX, MIDRX, MIDHX, MIDLX | 24% | 0.91% |
| MFS New Discovery Fund · MNDAX, MNDJX, MNDBX, MNDCX, MNDIX, MNDGX, MNDRX, MNDHX, MNDKX | 23% | 0.85% |
| MFS New Discovery Series | 22% | 0.87% |
Advisers
| Firm | Role |
|---|---|
| MASSACHUSETTS FINANCIAL SERVICES COMPANY | Adviser |
Footnotes
- Expense ratio as of December 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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