MFS MULTIMARKET INCOME TRUST 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 811-4975

MFS MULTIMARKET INCOME TRUST

(Exact name of registrant as specified in charter)

500 Boylston Street, Boston, Massachusetts 02116

(Address of principal executive offices) (Zip code)

Susan S. Newton

Massachusetts Financial Services Company

500 Boylston Street

Boston, Massachusetts 02116

(Name and address of agents for service)

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

Date of fiscal year end: October 31

Date of reporting period: July 31, 2009


ITEM 1. SCHEDULE OF INVESTMENTS.


LOGO


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09

 

Issuer

   Shares/Par    Value ($)

Bonds – 97.5%

     

Aerospace – 0.5%

     

Bombardier, Inc., 6.3%, 2014 (n)

   $ 1,210,000    $ 1,119,250

Hawker Beechcraft Acquisition Co. LLC, 8.5%, 2015

     1,615,000      940,713

TransDigm Group, Inc., 7.75%, 2014

     665,000      653,363
         
      $ 2,713,326
         

Airlines – 0.7%

     

American Airlines, Inc., 10.375%, 2019

   $ 290,000    $ 292,175

AMR Corp., 7.858%, 2011

     2,370,000      2,204,100

Continental Airlines, Inc., 7.339%, 2014

     761,000      547,920

Delta Air Lines, Inc., 7.111%, 2011

     650,000      620,750
         
      $ 3,664,945
         

Asset Backed & Securitized – 5.3%

     

ARCap REIT, Inc., CDO, “H”, 6.077%, 2045 (z)

   $ 2,000,000    $ 120,000

Bayview Financial Acquisition Trust, FRN, 5.483%, 2041

     1,130,000      901,913

Bayview Financial Revolving Mortgage Loan Trust, FRN, 1.085%, 2040 (z)

     4,000,000      1,476,400

Citigroup Commercial Mortgage Trust, FRN, 5.699%, 2049

     390,311      70,459

Citigroup/Deutsche Bank Commercial Mortgage Trust, FRN, 5.366%, 2049

     1,160,000      649,374

Countrywide Asset-Backed Certificates, FRN, 4.575%, 2035

     32,935      31,305

Crest Ltd., CDO, 7%, 2040

     2,000,000      150,000

DEPFA Bank, 5.5%, 2010

   EUR 960,000      1,391,219

Deutsche Mortgage & Asset Receiving Corp., FRN, 7.5%, 2031

   $ 1,847,000      1,902,148

DLJ Commercial Mortgage Corp., 6.04%, 2031 (z)

     2,000,000      1,951,075

Falcon Franchise Loan LLC, FRN, 3.69%, 2025 (i)(z)

     5,612,948      400,765

First Union National Bank Commercial Mortgage Trust, FRN, 0.896%, 2043 (i)(n)

     25,339,914      285,203

First Union-Lehman Brothers Bank of America, FRN, 0.418%, 2035 (i)

     20,431,524      315,453

First Union-Lehman Brothers Commercial Mortgage Trust, 7%, 2029 (n)

     1,211,585      1,250,438

GMAC LLC, FRN, 6.02%, 2033 (z)

     2,542,000      2,006,539

GMAC LLC, FRN, 7.656%, 2034 (n)

     1,853,000      1,442,981

JPMorgan Chase Commercial Mortgage Securities Corp., 5.552%, 2045

     1,590,000      1,478,612

JPMorgan Chase Commercial Mortgage Securities Corp., FRN, 5.475%, 2043

     1,590,000      1,481,825

JPMorgan Chase Commercial Mortgage Securities Corp., FRN, 5.875%, 2045

     1,590,000      1,401,529

JPMorgan Chase Commercial Mortgage Securities Corp., FRN, 6.062%, 2051

     270,000      57,384

Lehman Brothers Commercial Conduit Mortgage Trust, FRN, 0.826%, 2030 (i)

     4,884,987      120,351

Merrill Lynch Mortgage Trust, FRN, 5.828%, 2050

     270,000      67,247

Morgan Stanley Capital I, Inc., FRN, 1.275%, 2039 (i)(z)

     13,430,073      263,229

Mortgage Capital Funding, Inc., FRN, 2.212%, 2031 (i)

     316,661      576

PNC Mortgage Acceptance Corp., FRN, 7.1%, 2032 (z)

     2,490,000      2,377,824

Prudential Securities Secured Financing Corp., FRN, 7.284%, 2013 (z)

     2,581,000      2,129,728

RMAC PLC, FRN, 1.483%, 2036 (n)

   EUR 3,799      5,268

Structured Asset Securities Corp., FRN, 4.67%, 2035

   $ 1,570,351      1,310,365

Wachovia Bank Commercial Mortgage Trust, FRN, 5.118%, 2042

     1,375,626      1,321,658

Wachovia Bank Commercial Mortgage Trust, FRN, 5.693%, 2047

     1,496,845      244,421

Wachovia Bank Commercial Mortgage Trust, FRN, 5.753%, 2047

     229,557      33,238
         
      $ 26,638,527
         

Automotive – 2.6%

     

Accuride Corp., 8.5%, 2015

   $ 390,000    $ 69,225

Allison Transmission, Inc., 11%, 2015 (n)

     2,535,000      2,306,850

FCE Bank PLC, 7.125%, 2012

   EUR 2,450,000      3,125,325

Ford Motor Credit Co. LLC, 7.5%, 2012

   $ 464,000      428,253

Ford Motor Credit Co. LLC, 12%, 2015

     4,736,000      4,828,182

Goodyear Tire & Rubber Co., 9%, 2015

     2,325,000      2,359,875

Goodyear Tire & Rubber Co., 10.5%, 2016

     245,000      262,763
         
      $ 13,380,473
         

Broadcasting – 2.2%

     

Allbritton Communications Co., 7.75%, 2012

   $ 1,270,000    $ 1,054,100

 

1


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09 - continued

 

Issuer

   Shares/Par    Value ($)

Bonds – continued

     

Broadcasting – continued

     

Clear Channel Communications, Inc., 6.25%, 2011

   $ 1,310,000    $ 563,300

Clear Channel Communications, Inc., 10.75%, 2016

     190,000      57,475

Intelsat Jackson Holdings Ltd., 9.5%, 2016

     2,825,000      2,923,875

Lamar Media Corp., 7.25%, 2013

     1,460,000      1,408,900

Lamar Media Corp., 6.625%, 2015

     340,000      299,200

Lamar Media Corp., “C”, 6.625%, 2015

     365,000      313,900

LIN TV Corp., 6.5%, 2013

     3,125,000      2,359,375

Local TV Finance LLC, 9.25%, 2015 (p)(z)

     640,500      133,615

Newport Television LLC, 13%, 2017 (n)(p)

     755,000      95,528

Nexstar Broadcasting Group, Inc., 0.5% to 2011, 7% to 2014 (n)(p)

     531,007      185,720

Nexstar Broadcasting Group, Inc., 7%, 2014

     175,000      68,469

Univision Communications, Inc., 12%, 2014 (n)

     160,000      170,400

Univision Communications, Inc., 9.75%, 2015 (n)(p)

     1,985,000      1,238,971

Young Broadcasting, Inc., 8.75%, 2014 (d)

     215,000      215
         
      $ 10,873,043
         

Brokerage & Asset Managers – 0.6%

     

Janus Capital Group, Inc., 6.95%, 2017

   $ 2,555,000    $ 2,282,826

Nuveen Investments, Inc., 10.5%, 2015 (n)

     1,010,000      717,100
         
      $ 2,999,926
         

Building – 1.6%

     

Associated Materials, Inc., 9.75%, 2012

   $ 1,415,000    $ 1,218,669

Building Materials Corp. of America, 7.75%, 2014

     1,015,000      935,069

CRH PLC, 8.125%, 2018

     1,485,000      1,493,764

Nortek, Inc., 10%, 2013

     1,445,000      1,275,213

Nortek, Inc., 8.5%, 2014

     690,000      248,400

Owens Corning, 9%, 2019

     1,365,000      1,414,240

Ply Gem Industries, Inc., 11.75%, 2013

     1,960,000      1,479,800

USG Corp., 9.75%, 2014 (z)

     200,000      204,000
         
      $ 8,269,155
         

Business Services – 1.5%

     

First Data Corp., 9.875%, 2015

   $ 3,115,000    $ 2,628,281

Iron Mountain, Inc., 6.625%, 2016

     1,250,000      1,154,688

SunGard Data Systems, Inc., 9.125%, 2013

     1,510,000      1,540,200

SunGard Data Systems, Inc., 10.25%, 2015

     1,440,000      1,476,000

Terremark Worldwide, Inc., 12%, 2017 (n)

     705,000      712,050
         
      $ 7,511,219
         

Cable TV – 4.0%

     

CCO Holdings LLC, 8.75%, 2013

   $ 2,370,000    $ 2,364,075

Charter Communications, Inc., 10.375%, 2014 (n)

     1,310,000      1,306,725

Charter Communications, Inc., 10.875%, 2014 (n)

     995,000      1,074,600

Cox Communications, Inc., 4.625%, 2013

     1,744,000      1,791,322

CSC Holdings, Inc., 8.5%, 2014 (n)

     820,000      844,600

CSC Holdings, Inc., 8.5%, 2015 (n)

     2,070,000      2,132,100

DirectTV Holdings LLC, 7.625%, 2016

     4,545,000      4,601,813

Mediacom LLC, 9.5%, 2013

     1,215,000      1,208,925

TCI Communications, Inc., 9.8%, 2012

     1,135,000      1,310,369

Videotron LTEE, 6.875%, 2014

     1,270,000      1,244,600

Virgin Media Finance PLC, 9.5%, 2016

     680,000      697,000

Virgin Media, Inc., 9.125%, 2016

     1,720,000      1,737,200
         
      $ 20,313,329
         

Chemicals – 0.6%

     

Dow Chemical Co., 8.55%, 2019

   $ 870,000    $ 954,473

Linde Finance B.V., 6% to 2013, FRN to 2049

   EUR 101,000      130,003

Momentive Performance Materials, Inc., 12.5%, 2014 (n)

   $ 838,000      821,240

 

2


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09 - continued

 

Issuer

   Shares/Par    Value ($)

Bonds – continued

     

Chemicals – continued

     

Momentive Performance Materials, Inc., 11.5%, 2016

   $ 919,000    $ 459,500

Mosaic Co., 7.625%, 2016 (n)

     695,000      739,847

Nalco Co., 7.75%, 2011

     50,000      50,250
         
      $ 3,155,313
         

Computer Software – 0.4%

     

Seagate Technology HDD Holdings, 6.375%, 2011

   $ 1,967,000    $ 1,937,495
         

Conglomerates – 0.3%

     

Actuant Corp., 6.875%, 2017

   $ 1,495,000    $ 1,366,056
         

Construction – 0.1%

     

Lennar Corp., 12.25%, 2017 (n)

   $ 470,000    $ 526,400
         

Consumer Products – 0.6%

     

ACCO Brands Corp., 7.625%, 2015

   $ 435,000    $ 315,375

Fortune Brands, Inc., 5.125%, 2011

     1,179,000      1,199,102

Jarden Corp., 7.5%, 2017

     1,440,000      1,382,400

Visant Holding Corp., 8.75%, 2013

     290,000      291,450
         
      $ 3,188,327
         

Consumer Services – 1.9%

     

Corrections Corp. of America, 6.25%, 2013

   $ 1,625,000    $ 1,592,500

GEO Group, Inc., 8.25%, 2013

     220,000      216,700

KAR Holdings, Inc., 10%, 2015

     2,010,000      1,768,800

KAR Holdings, Inc., FRN, 4.48%, 2014

     1,135,000      919,350

Service Corp. International, 7.375%, 2014

     500,000      486,250

Service Corp. International, 7%, 2017

     3,300,000      3,069,000

Ticketmaster Entertainment, Inc., 10.75%, 2016

     1,390,000      1,292,700
         
      $ 9,345,300
         

Containers – 1.2%

     

Crown Americas LLC, 7.75%, 2015

   $ 1,215,000    $ 1,233,225

Graham Packaging Holdings Co., 9.875%, 2014

     1,625,000      1,555,938

Greif, Inc., 6.75%, 2017

     1,515,000      1,427,888

Owens-Brockway Glass Container, Inc., 8.25%, 2013

     1,690,000      1,728,025
         
      $ 5,945,076
         

Defense Electronics – 0.5%

     

L-3 Communications Corp., 6.125%, 2014

   $ 500,000    $ 483,750

L-3 Communications Corp., 5.875%, 2015

     2,300,000      2,179,250
         
      $ 2,663,000
         

Electronics – 0.2%

     

Flextronics International Ltd., 6.25%, 2014

   $ 296,000    $ 278,240

Freescale Semiconductor, Inc., 8.875%, 2014

     690,000      462,300

Jabil Circuit, Inc., 7.75%, 2016

     350,000      336,501
         
      $ 1,077,041
         

Emerging Market Quasi-Sovereign – 8.6%

     

BNDES Participacoes S.A., 6.5%, 2019 (n)

   $ 1,515,000    $ 1,533,938

Ecopetrol S.A., 7.625%, 2019 (z)

     821,000      857,945

Empresa Nacional del Petroleo, 6.25%, 2019 (n)

     1,691,000      1,714,476

Export-Import Bank of Korea, 5.875%, 2015

     1,373,000      1,383,475

Gaz Capital S.A., 8.125%, 2014 (z)

     2,200,000      2,222,000

Gazprom International S.A., 7.201%, 2020

     690,971      680,607

KazMunaiGaz Finance B.V., 8.375%, 2013 (n)

     1,488,000      1,395,000

KazMunaiGaz Finance B.V., 8.375%, 2013

     1,078,000      1,010,625

KazMunaiGaz Finance B.V., 11.75%, 2015 (z)

     1,799,000      1,870,960

KazMunaiGaz Finance B.V., 9.125%, 2018 (n)

     713,000      652,395

Korea National Oil Corp., 5.375%, 2014 (z)

     1,451,000      1,481,834

 

3


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09 - continued

 

Issuer

   Shares/Par    Value ($)

Bonds – continued

     

Emerging Market Quasi-Sovereign – continued

     

Majapahit Holding B.V., 7.25%, 2017 (n)

   $ 1,469,000    $ 1,388,205

Majapahit Holding B.V., 7.25%, 2017

     1,425,000      1,346,625

Mubadala Development Co., 7.625%, 2019 (n)

     2,716,000      2,906,120

National Power Corp., 7.25%, 2019 (n)

     769,000      784,380

National Power Corp., FRN, 4.911%, 2011

     388,000      392,112

OAO Gazprom, 6.212%, 2016

     1,886,000      1,670,996

Pemex Project Funding Master Trust, 5.75%, 2018

     3,376,000      3,325,360

Petrobras International Finance Co., 7.875%, 2019

     3,165,000      3,514,100

Petroleos Mexicanos, 8%, 2019 (n)

     1,382,000      1,558,205

Qtel International Finance Ltd., 6.5%, 2014 (n)

     669,000      704,644

Qtel International Finance Ltd., 7.875%, 2019 (n)

     1,188,000      1,293,472

Ras Laffan Liquefied Natural Gas Co. Ltd., 8.294%, 2014 (n)

     2,510,000      2,748,882

Ras Laffan Liquefied Natural Gas Co. Ltd., 5.5%, 2014 (z)

     611,000      624,433

Ras Laffan Liquefied Natural Gas Co. Ltd., 6.75%, 2019 (z)

     1,464,000      1,521,493

Russian Agricultural Bank, 7.125%, 2014

     2,257,000      2,247,746

TDIC Finance Ltd., 6.5%, 2014 (n)

     1,138,000      1,174,514

TransCapitalInvest Ltd., 5.67%, 2014

     2,007,000      1,866,510
         
      $ 43,871,052
         

Emerging Market Sovereign – 7.9%

     

Emirate of Abu Dhabi, 6.75%, 2019

   $ 1,154,000    $ 1,233,213

Emirate of Abu Dhabi, 6.75%, 2019 (n)

     329,000      351,583

Federative Republic of Brazil, 6%, 2017

     1,825,000      1,895,263

Federative Republic of Brazil, 5.875%, 2019

     326,000      333,824

Federative Republic of Brazil, 7.125%, 2037

     319,000      351,219

Republic of Argentina, 8.28%, 2033

     2,882,302      1,678,941

Republic of Argentina, 0%, 2009

     672,925      667,717

Republic of Argentina, FRN, 1.683%, 2012

     1,953,150      1,354,083

Republic of Colombia, 7.375%, 2017

     1,237,000      1,354,515

Republic of Colombia, 7.375%, 2019

     716,000      776,860

Republic of Indonesia, 10.375%, 2014 (n)

     433,000      515,270

Republic of Indonesia, 6.875%, 2018 (n)

     516,000      523,740

Republic of Indonesia, 6.875%, 2018

     1,676,000      1,701,140

Republic of Indonesia, 11.625%, 2019 (n)

     1,301,000      1,749,845

Republic of Indonesia, 7.75%, 2038 (n)

     574,000      556,780

Republic of Panama, 9.375%, 2029

     2,908,000      3,664,080

Republic of Peru, 8.375%, 2016

     3,213,000      3,759,210

Republic of Peru, 7.125%, 2019

     391,000      423,844

Republic of Peru, 7.35%, 2025

     544,000      588,336

Republic of Philippines, 9.375%, 2017

     1,576,000      1,859,680

Republic of Philippines, 6.5%, 2020

     296,000      296,740

Republic of Poland, 6.375%, 2019

     542,000      561,404

Republic of South Africa, 6.875%, 2019

     284,000      310,270

Republic of Turkey, 7.5%, 2017

     297,000      314,449

Republic of Turkey, 7%, 2019

     1,953,000      1,999,384

Republic of Turkey, 7.5%, 2019

     457,000      479,850

Republic of Uruguay, 9.25%, 2017

     1,138,000      1,311,545

Republic of Venezuela, 5.75%, 2016

     2,090,000      1,233,100

Republic of Venezuela, 9%, 2023

     2,000,000      1,290,000

Republic of Venezuela, 7.65%, 2025

     1,345,000      773,375

Russian Federation, FRN, 7.5%, 2030

     2,330,880      2,356,520

State of Qatar, 5.15%, 2014 (n)

     1,449,000      1,497,904

State of Qatar, 6.55%, 2019 (n)

     1,055,000      1,107,750

United Mexican States, 5.625%, 2017

     1,364,000      1,391,280
         
      $ 40,262,714
         

 

4


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09 - continued

 

Issuer

   Shares/Par    Value ($)

Bonds – continued

     

Energy - Independent – 4.6%

     

Anadarko Petroleum Corp., 6.45%, 2036

   $ 270,000    $ 271,010

Chaparral Energy, Inc., 8.875%, 2017

     1,200,000      744,000

Chesapeake Energy Corp., 9.5%, 2015

     455,000      482,869

Chesapeake Energy Corp., 6.375%, 2015

     2,740,000      2,555,050

Chesapeake Energy Corp., 6.875%, 2016

     710,000      667,400

Forest Oil Corp., 8.5%, 2014 (n)

     245,000      248,675

Forest Oil Corp., 7.25%, 2019

     1,520,000      1,445,900

Hilcorp Energy I LP, 9%, 2016 (n)

     1,765,000      1,623,800

Mariner Energy, Inc., 8%, 2017

     1,790,000      1,557,300

McMoRan Exploration Co., 11.875%, 2014

     1,360,000      1,247,800

Newfield Exploration Co., 6.625%, 2014

     435,000      419,775

Newfield Exploration Co., 6.625%, 2016

     400,000      386,000

OPTI Canada, Inc., 8.25%, 2014

     1,820,000      1,201,200

Penn Virginia Corp., 10.375%, 2016

     1,610,000      1,716,663

Petrohawk Energy Corp., 10.5%, 2014 (n)

     1,090,000      1,166,300

Plains Exploration & Production Co., 7%, 2017

     2,560,000      2,425,600

Quicksilver Resources, Inc., 8.25%, 2015

     1,675,000      1,608,000

Quicksilver Resources, Inc., 7.125%, 2016

     520,000      436,800

Range Resources Corp., 8%, 2019

     1,315,000      1,338,013

SandRidge Energy, Inc., 9.875%, 2016 (n)

     330,000      333,300

SandRidge Energy, Inc., 8%, 2018 (n)

     1,785,000      1,624,350
         
      $ 23,499,805
         

Entertainment – 0.7%

     

AMC Entertainment, Inc., 11%, 2016

   $ 1,895,000    $ 1,913,950

AMC Entertainment, Inc., 8.75%, 2019 (n)

     890,000      876,650

Cinemark USA, Inc., 8.625%, 2019 (n)

     920,000      952,200
         
      $ 3,742,800
         

Financial Institutions – 1.6%

     

GMAC LLC, 6.875%, 2011 (n)

   $ 3,871,000    $ 3,570,998

GMAC LLC, 7%, 2012 (n)

     625,000      565,625

GMAC LLC, 6.75%, 2014 (n)

     1,445,000      1,242,700

GMAC LLC, 8%, 2031 (n)

     1,093,000      836,145

ILFC E-Capital Trust I, 5.9% to 2010, FRN to 2065 (n)

     2,500,000      775,000

International Lease Finance Corp., 5.875%, 2013

     1,248,000      869,145

International Lease Finance Corp., 5.625%, 2013

     475,000      331,487
         
      $ 8,191,100
         

Food & Beverages – 1.4%

     

ARAMARK Corp., 8.5%, 2015

   $ 1,495,000    $ 1,506,213

B&G Foods, Inc., 8%, 2011

     375,000      376,875

Dean Foods Co., 7%, 2016

     2,235,000      2,106,488

Del Monte Corp., 6.75%, 2015

     1,825,000      1,774,813

Tyson Foods, Inc., 7.85%, 2016

     1,520,000      1,535,200
         
      $ 7,299,589
         

Food & Drug Stores – 0.3%

     

CVS Caremark Corp., 6.125%, 2016

   $ 1,300,000    $ 1,408,583
         

Forest & Paper Products – 1.6%

     

Buckeye Technologies, Inc., 8.5%, 2013

   $ 725,000    $ 703,250

Celulosa Arauco y Constitucion S.A., 7.25%, 2019 (z)

     272,000      281,738

Georgia-Pacific Corp., 7.125%, 2017 (n)

     2,395,000      2,335,125

Georgia-Pacific Corp., 8%, 2024

     200,000      178,500

Graphic Packaging International Corp., 9.5%, 2013

     1,145,000      1,140,706

International Paper Co., 7.4%, 2014

     1,500,000      1,602,864

Jefferson Smurfit Corp., 8.25%, 2012 (d)

     940,000      474,700

PE Paper Escrow GmbH, 12%, 2014 (z)

     218,000      216,910

 

5


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09 - continued

 

Issuer

   Shares/Par    Value ($)

Bonds – continued

     

Forest & Paper Products – continued

     

Smurfit-Stone Container Corp., 8%, 2017 (d)

   $ 144,000    $ 72,360

Stora Enso Oyj, 6.404%, 2016 (n)

     1,580,000      1,169,200

UPM-Kymmene Corp., 6.125%, 2012

   EUR 100,000      142,552
         
      $ 8,317,905
         

Gaming & Lodging – 4.3%

     

Ameristar Casinos, Inc., 9.25%, 2014 (n)

   $ 510,000    $ 525,300

Boyd Gaming Corp., 6.75%, 2014

     2,390,000      2,133,075

Firekeepers Development Authority, 13.875%, 2015 (n)

     205,000      205,000

Fontainebleau Las Vegas Holdings LLC, 10.25%, 2015 (d)(n)

     405,000      12,150

Harrah’s Operating Co., Inc., 11.25%, 2017 (n)

     1,500,000      1,518,750

Harrah’s Operating Co., Inc., 10%, 2018 (n)

     2,000      1,400

Harrah’s Operating Co., Inc., 10%, 2018 (n)

     2,405,000      1,683,500

Host Hotels & Resorts, Inc., 7.125%, 2013

     395,000      383,150

Host Hotels & Resorts, Inc., 6.75%, 2016

     1,895,000      1,757,613

Host Hotels & Resorts, Inc., 9%, 2017 (n)

     745,000      750,588

MGM Mirage, 6.75%, 2013

     1,155,000      880,688

MGM Mirage, 5.875%, 2014

     1,565,000      1,126,800

MGM Mirage, 10.375%, 2014 (n)

     190,000      203,775

MGM Mirage, 7.5%, 2016

     1,005,000      733,650

MGM Mirage, 11.125%, 2017 (n)

     470,000      517,000

Pinnacle Entertainment, Inc., 7.5%, 2015

     4,195,000      3,723,063

Royal Caribbean Cruises Ltd., 7%, 2013

     755,000      675,725

Royal Caribbean Cruises Ltd., 11.875%, 2015

     980,000      1,009,400

Scientific Games Corp., 6.25%, 2012

     825,000      800,250

Starwood Hotels & Resorts Worldwide, Inc., 7.875%, 2012

     1,150,000      1,150,000

Starwood Hotels & Resorts Worldwide, Inc., 6.75%, 2018

     990,000      891,000

Station Casinos, Inc., 6%, 2012 (d)

     1,080,000      324,000

Station Casinos, Inc., 6.5%, 2014 (d)

     325,000      4,875

Station Casinos, Inc., 6.875%, 2016 (d)

     1,450,000      21,750

Trump Entertainment Resorts Holdings, Inc., 8.5%, 2015 (d)

     573,000      74,490

Wyndham Worldwide Corp., 6%, 2016

     955,000      809,614
         
      $ 21,916,606
         

Industrial – 0.4%

     

Baldor Electric Co., 8.625%, 2017

   $ 1,005,000    $ 1,007,513

JohnsonDiversey, Inc., 9.625%, 2012

   EUR 185,000      241,268

JohnsonDiversey, Inc., “B”, 9.625%, 2012

   $ 665,000      674,975
         
      $ 1,923,756
         

Insurance – 0.6%

     

AIG SunAmerica Global Financing X, 6.9%, 2032 (n)

   $ 2,384,000    $ 1,663,920

Allianz AG, 5.5% to 2014, FRN to 2049

   EUR 140,000      161,629

ING Groep N.V., 5.775% to 2015, FRN to 2049

   $ 2,200,000      1,386,000
         
      $ 3,211,549
         

Insurance - Property & Casualty – 0.7%

     

USI Holdings Corp., FRN, 4.324%, 2014 (n)

   $ 1,495,000    $ 1,046,500

ZFS Finance USA Trust IV, 5.875% to 2012, FRN to 2032 (n)

     500,000      406,375

ZFS Finance USA Trust V, 6.5% to 2017, FRN to 2037 (n)

     2,700,000      2,241,000
         
      $ 3,693,875
         

International Market Quasi-Sovereign – 0.1%

     

Canada Housing Trust, 4.6%, 2011 (n)

   CAD 264,000    $ 260,390
         

International Market Sovereign – 8.2%

     

Federal Republic of Germany, 5.25%, 2010

   EUR 2,284,000    $ 3,388,464

Federal Republic of Germany, 3.75%, 2015

     77,000      116,197

Federal Republic of Germany, 6.25%, 2030

     549,000      1,010,828

Government of Canada, 4.5%, 2015

   CAD 678,000      684,816

 

6


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09 - continued

 

Issuer

   Shares/Par    Value ($)

Bonds – continued

     

International Market Sovereign – continued

     

Government of Canada, 5.75%, 2033

   $ 159,000    $ 185,358

Government of Japan, 0.8%, 2010

   JPY 119,000,000      1,269,071

Government of Japan, 1.5%, 2012

     350,000,000      3,815,257

Government of Japan, 1.3%, 2014

     144,000,000      1,561,365

Government of Japan, 1.7%, 2017

     331,600,000      3,660,230

Government of Japan, 2.2%, 2027

     319,200,000      3,441,966

Kingdom of Belgium, 5.5%, 2017

   EUR 746,000      1,212,185

Kingdom of Netherlands, 3.75%, 2014

     685,000      1,026,269

Kingdom of Spain, 5.35%, 2011

     1,826,000      2,816,348

Kingdom of Spain, 4.6%, 2019

     480,000      727,210

Kingdom of Sweden, 4.5%, 2015

   SEK 1,750,000      263,041

Republic of Austria, 4.65%, 2018

   EUR 439,000      672,322

Republic of France, 4.75%, 2012

     452,000      698,879

Republic of France, 4.75%, 2035

     1,277,000      1,994,255

Republic of Greece, 3.6%, 2016

     1,398,000      1,985,515

Republic of Ireland, 4.6%, 2016

     835,000      1,229,637

Republic of Italy, 4.75%, 2013

     2,872,000      4,401,574

Republic of Italy, 5.25%, 2017

     1,711,000      2,712,405

Republic of Portugal, 4.45%, 2018

     267,000      400,443

United Kingdom Treasury, 8%, 2015

   GBP 483,000      1,027,269

United Kingdom Treasury, 8%, 2021

     346,000      803,542

United Kingdom Treasury, 4.25%, 2036

     473,000      756,503
         
      $ 41,860,949
         

Machinery & Tools – 0.2%

     

Case New Holland, Inc., 7.125%, 2014

   $ 1,135,000    $ 1,066,900
         

Major Banks – 1.3%

     

Bank of America Corp., 8% to 2018, FRN to 2059

   $ 885,000    $ 756,932

Bank of Ireland, 7.4%, 2049

   EUR 250,000      163,909

BNP Paribas, 5.186% to 2015, FRN to 2049 (n)

   $ 2,099,000      1,421,772

BNP Paribas Capital Trust III, 6.625% to 2011, FRN to 2049

   EUR 100,000      119,868

Groupe BPCE S.A., 10%, 2049

     1,958,000      2,153,800

MUFG Capital Finance 1 Ltd., 6.346% to 2016, FRN to 2049

     599,000      541,135

National Westminster Bank PLC, 6.625% to 2009, FRN to 2049

     330,000      399,796

UniCredito Luxembourg Finance S.A., 6%, 2017 (n)

     990,000      869,300
         
      $ 6,426,512
         

Medical & Health Technology & Services – 4.6%

     

Biomet, Inc., 10%, 2017

   $ 1,035,000    $ 1,120,388

Biomet, Inc., 11.625%, 2017

     925,000      1,003,625

Community Health Systems, Inc., 8.875%, 2015

     2,955,000      3,043,650

Cooper Cos., Inc., 7.125%, 2015

     1,020,000      958,800

Dasa Finance Corp., 8.75%, 2018

     800,000      801,000

DaVita, Inc., 6.625%, 2013

     198,000      194,535

DaVita, Inc., 7.25%, 2015

     1,356,000      1,328,880

Fisher Scientific International, Inc., 6.125%, 2015

     1,500,000      1,530,000

Fresenius Medical Care AG & Co. KGaA, 9%, 2015 (n)

     875,000      945,000

HCA, Inc., 8.75%, 2010

     1,220,000      1,232,200

HCA, Inc., 9.25%, 2016

     4,555,000      4,748,588

HCA, Inc., 8.5%, 2019 (n)

     765,000      784,125

Owens & Minor, Inc., 6.35%, 2016

     1,420,000      1,250,595

Psychiatric Solutions, Inc., 7.75%, 2015

     1,025,000      971,188

Psychiatric Solutions, Inc., 7.75%, 2015 (n)

     440,000      405,900

U.S. Oncology, Inc., 10.75%, 2014

     1,235,000      1,222,650

Universal Hospital Services, Inc., 8.5%, 2015 (p)

     800,000      776,000

VWR Funding, Inc., 11.25%, 2015 (p)

     1,300,000      1,135,875
         
      $ 23,452,999
         

 

7


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09 - continued

 

Issuer

   Shares/Par    Value ($)

Bonds – continued

     

Metals & Mining – 2.2%

     

Arch Coal, Inc., 8.75%, 2016 (z)

   $ 535,000    $ 540,350

Arch Western Finance LLC, 6.75%, 2013

     2,075,000      2,012,750

FMG Finance Ltd., 10.625%, 2016 (n)

     1,735,000      1,791,388

Freeport-McMoRan Copper & Gold, Inc., 8.375%, 2017

     3,350,000      3,551,000

Freeport-McMoRan Copper & Gold, Inc., FRN, 4.995%, 2015

     195,000      187,563

International Steel Group, Inc., 6.5%, 2014

     1,300,000      1,281,315

Peabody Energy Corp., 5.875%, 2016

     1,970,000      1,832,100
         
      $ 11,196,466
         

Natural Gas - Distribution – 0.5%

     

AmeriGas Partners LP, 7.25%, 2015

   $ 1,830,000    $ 1,793,400

AmeriGas Partners LP, 7.125%, 2016

     15,000      14,550

Inergy LP, 6.875%, 2014

     870,000      822,150
         
      $ 2,630,100
         

Natural Gas - Pipeline – 2.1%

     

Atlas Pipeline Partners LP, 8.125%, 2015

   $ 1,800,000    $ 1,476,000

Atlas Pipeline Partners LP, 8.75%, 2018

     375,000      300,000

CenterPoint Energy, Inc., 7.875%, 2013

     1,250,000      1,346,581

Deutsche Bank (El Paso Performance-Linked Trust, CLN), 7.75%, 2011 (n)

     2,340,000      2,307,776

El Paso Corp., 8.25%, 2016

     925,000      943,500

El Paso Corp., 7.25%, 2018

     1,315,000      1,277,323

El Paso Corp., 7.75%, 2032

     299,000      267,983

Kinder Morgan Energy Partners LP, 5.125%, 2014

     1,147,000      1,182,950

MarkWest Energy Partners LP, 6.875%, 2014 (n)

     925,000      814,000

MarkWest Energy Partners LP, 8.75%, 2018

     220,000      204,600

Williams Partners LP, 7.25%, 2017

     570,000      558,600
         
      $ 10,679,313
         

Network & Telecom – 2.8%

     

BellSouth Corp., 6.55%, 2034

   $ 3,213,000    $ 3,346,796

Cincinnati Bell, Inc., 8.375%, 2014

     750,000      742,500

Citizens Communications Co., 9.25%, 2011

     1,615,000      1,665,469

Citizens Communications Co., 9%, 2031

     870,000      800,400

Nordic Telephone Co. Holdings, 8.875%, 2016 (n)

     715,000      725,725

Qwest Communications International, Inc., 7.25%, 2011

     385,000      383,075

Qwest Corp., 7.875%, 2011

     295,000      300,900

Qwest Corp., 8.875%, 2012

     2,450,000      2,541,875

Qwest Corp., 8.375%, 2016 (n)

     457,000      468,425

Telemar Norte Leste S.A., 9.5%, 2019 (n)

     1,753,000      1,991,846

Windstream Corp., 8.625%, 2016

     1,285,000      1,304,275
         
      $ 14,271,286
         

Other Banks & Diversified Financials – 0.7%

     

Bosphorus Financial Services Ltd., FRN, 2.25%, 2012

   $ 1,375,000    $ 1,201,720

Resona Bank Ltd., 5.85% to 2016, FRN to 2049 (n)

     626,000      500,800

Woori America Bank, 7%, 2015 (z)

     341,000      356,345

Woori Bank, 6.125% to 2011, FRN to 2016 (n)

     1,510,000      1,410,237
         
      $ 3,469,102
         

Pollution Control – 0.1%

     

Allied Waste North America, Inc., 7.125%, 2016

   $ 625,000    $ 645,313
         

Precious Metals & Minerals – 1.0%

     

Alrosa Finance S.A., 8.875%, 2014

   $ 1,770,000    $ 1,690,350

Teck Resources Ltd., 9.75%, 2014 (n)

     985,000      1,095,813

Teck Resources Ltd., 10.75%, 2019 (n)

     1,865,000      2,170,394
         
      $ 4,956,557
         

 

8


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09 - continued

 

Issuer

   Shares/Par    Value ($)

Bonds – continued

     

Printing & Publishing – 0.6%

     

American Media Operations, Inc., 9%, 2013 (p)(z)

   $ 28,501    $ 13,616

American Media Operations, Inc., 14%, 2013 (p)(z)

     297,571      138,280

Bertelsmann U.S. Finance, Inc., 4.625%, 2010

   EUR 148,000      213,807

Dex Media West LLC, 9.875%, 2013 (d)

   $ 2,324,000      429,940

Idearc, Inc., 8%, 2016 (d)

     499,000      21,831

Nielsen Finance LLC, 10%, 2014

     1,585,000      1,592,925

Nielsen Finance LLC, 11.5%, 2016

     725,000      759,438
         
      $ 3,169,837
         

Railroad & Shipping – 0.1%

     

Kansas City Southern Railway, 8%, 2015

   $ 465,000    $ 451,050
         

Real Estate – 0.1%

     

CB Richard Ellis Group, Inc., 11.625%, 2017 (n)

   $ 365,000    $ 366,825
         

Retailers – 1.9%

     

Couche-Tard, Inc., 7.5%, 2013

   $ 715,000    $ 714,106

Dollar General Corp., 11.875%, 2017 (p)

     660,000      739,200

Home Depot, Inc., 5.875%, 2036

     846,000      781,744

Limited Brands, Inc., 5.25%, 2014

     855,000      736,452

Macy’s Retail Holdings, Inc., 5.35%, 2012

     410,000      402,106

Macy’s Retail Holdings, Inc., 5.75%, 2014

     1,725,000      1,594,057

Neiman Marcus Group, Inc., 10.375%, 2015

     1,320,000      950,400

Rite Aid Corp., 9.75%, 2016 (n)

     710,000      749,050

Rite Aid Corp., 7.5%, 2017

     985,000      842,175

Sally Beauty Holdings, Inc., 10.5%, 2016

     770,000      793,100

Toys “R” Us, Inc., 10.75%, 2017 (z)

     1,365,000      1,399,125
         
      $ 9,701,515
         

Specialty Chemicals – 0.4%

     

Ashland, Inc., 9.125%, 2017 (n)

   $ 1,865,000    $ 1,967,575
         

Specialty Stores – 0.2%

     

GSC Holdings Corp., 8%, 2012

   $ 440,000    $ 446,600

Michaels Stores, Inc., 10%, 2014

     180,000      169,200

Payless ShoeSource, Inc., 8.25%, 2013

     255,000      247,350
         
      $ 863,150
         

Supermarkets – 0.5%

     

Delhaize America, Inc., 9%, 2031

   $ 983,000    $ 1,230,240

SUPERVALU, Inc., 8%, 2016

     1,040,000      1,032,200
         
      $ 2,262,440
         

Supranational – 0.4%

     

Central American Bank, 4.875%, 2012 (n)

   $ 521,000    $ 524,754

European Investment Bank, 5.125%, 2017

     1,500,000      1,622,630
         
      $ 2,147,384
         

Telecommunications - Wireless – 2.2%

     

Cricket Communications, Inc., 7.75%, 2016 (n)

   $ 735,000    $ 731,325

Crown Castle International Corp., 9%, 2015

     1,830,000      1,932,938

Crown Castle International Corp., 7.75%, 2017 (n)

     470,000      479,400

Digicel Group Ltd., 12%, 2014 (n)

     230,000      242,650

MetroPCS Wireless, Inc., 9.25%, 2014

     2,355,000      2,437,425

Nextel Communications, Inc., 6.875%, 2013

     1,885,000      1,720,063

SBA Telecommunications, Inc., 8%, 2016 (z)

     340,000      343,400

SBA Telecommunications, Inc., 8.25%, 2019 (z)

     295,000      299,425

Sprint Nextel Corp., 8.375%, 2012

     810,000      820,125

Sprint Nextel Corp., 8.75%, 2032

     1,610,000      1,386,613

Wind Acquisition Finance S.A., 10.75%, 2015 (z)

     602,000      638,120
         
      $ 11,031,484
         

 

9


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09 - continued

 

Issuer

   Shares/Par    Value ($)

Bonds – continued

     

Telephone Services – 0.2%

     

Frontier Communications Corp., 8.25%, 2014

   $ 875,000    $ 885,938
         

Tobacco – 0.5%

     

Alliance One International, Inc., 10%, 2016 (n)

   $ 680,000    $ 669,800

Reynolds American, Inc., 6.75%, 2017

     2,016,000      2,027,241
         
      $ 2,697,041
         

Transportation - Services – 0.7%

     

Commercial Barge Line Co., 12.5%, 2017 (z)

   $ 530,000    $ 507,475

Hertz Corp., 8.875%, 2014

     2,130,000      2,050,125

Westinghouse Air Brake Technologies Corp., 6.875%, 2013

     795,000      779,100
         
      $ 3,336,700
         

U.S. Treasury Obligations – 3.0%

     

U.S. Treasury Bonds, 5.375%, 2031

   $ 3,386,000    $ 3,887,023

U.S. Treasury Bonds, 4.5%, 2036 (f)

     11,029,000      11,366,763
         
      $ 15,253,786
         

Utilities - Electric Power – 5.3%

     

AES Corp., 8%, 2017

   $ 3,435,000    $ 3,366,300

Allegheny Energy Supply Co. LLC, 8.25%, 2012 (n)

     805,000      860,717

Beaver Valley Funding Corp., 9%, 2017

     2,040,000      2,013,949

Calpine Corp., 8%, 2016 (n)

     940,000      944,700

CenterPoint Energy, Inc., 6.5%, 2018

     600,000      569,262

Dynegy Holdings, Inc., 7.5%, 2015

     2,320,000      2,030,000

Dynegy Holdings, Inc., 7.75%, 2019

     570,000      453,863

Edison Mission Energy, 7%, 2017

     1,640,000      1,305,850

ELETROBRAS S.A., 6.875%, 2019 (z)

     217,000      219,441

Enersis S.A., 7.375%, 2014

     357,000      385,845

HQI Transelec Chile S.A., 7.875%, 2011

     883,000      926,309

ISA Capital do Brasil S.A., 7.875%, 2012 (n)

     251,000      261,981

ISA Capital do Brasil S.A., 7.875%, 2012

     1,230,000      1,283,813

Mirant Americas Generation LLC, 8.3%, 2011

     200,000      203,250

Mirant North America LLC, 7.375%, 2013

     1,630,000      1,609,625

NRG Energy, Inc., 7.375%, 2016

     3,640,000      3,521,700

RRI Energy, Inc., 7.875%, 2017

     578,000      533,205

System Energy Resources, Inc., 5.129%, 2014 (z)

     1,572,375      1,556,682

Texas Competitive Electric Holdings LLC, 10.25%, 2015

     4,255,000      3,340,175

Waterford 3 Funding Corp., 8.09%, 2017

     1,685,897      1,622,473
         
      $ 27,009,140
         

Utilities - Gas – 0.1%

     

Empresas Publicas de Medellin, 7.625%, 2019 (z)

   $ 366,000    $ 379,542
         

Total Bonds

      $ 495,346,579
         

Floating Rate Loans (g)(r) – 3.0%

     

Aerospace – 0.3%

     

Hawker Beechcraft Acquisition Co. LLC, Letter of Credit, 2.59%, 2014

   $ 124,488    $ 84,108

Hawker Beechcraft Acquisition Co. LLC, Term Loan, 2.38%, 2014

     2,299,870      1,553,849
         
      $ 1,637,957
         

Automotive – 0.5%

     

Accuride Corp., Term Loan, 3%, 2012

   $ 62,041    $ 56,767

Allison Transmission, Inc., Term Loan B, 3.05%, 2014

     753,808      649,217

Federal-Mogul Corp., Term Loan B, 2.24%, 2014

     490,524      369,732

Ford Motor Co., Term Loan B, 3.49%, 2013

     909,911      771,402

Goodyear Tire & Rubber Co., Second Lien Term Loan, 2.04%, 2014

     713,967      655,660
         
      $ 2,502,778
         

 

10


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09 - continued

 

Issuer

   Shares/Par    Value ($)

Floating Rate Loans (g)(r) – continued

     

Broadcasting – 0.1%

     

Gray Television, Inc., Term Loan, 3.81%, 2014

   $ 334,586    $ 210,162
         

Building – 0.1%

     

Building Materials Holding Corp., Term Loan, 3.06%, 2014

   $ 385,283    $ 344,667
         

Business Services – 0.3%

     

First Data Corp., Term Loan B-1, 3.03%, 2014

   $ 1,615,110    $ 1,356,692
         

Cable TV – 0.3%

     

Charter Communications Operating LLC, Term Loan, 6.25%, 2014

   $ 1,200,290    $ 1,120,171

CSC Holdings, Inc., Incremental Term Loan, 2.03%, 2013

     488,442      471,225
         
      $ 1,591,396
         

Electronics – 0.0%

     

Freescale Semiconductor, Inc., Term Loan B, 2.05%, 2013

   $ 207,300    $ 152,440
         

Gaming & Lodging – 0.2%

     

MGM Mirage, Term Loan, 2011 (o)

   $ 1,198,485    $ 984,424
         

Retailers – 0.1%

     

Toys “R” Us, Inc., Term Loan B, 4.53%, 2012

   $ 413,781    $ 397,378
         

Specialty Chemicals – 0.2%

     

LyondellBasell, DIP Term Loan, 9.16%, 2009 (q)

   $ 212,509    $ 219,504

LyondellBasell, DIP Term Loan B-3, 5.81%, 2009

     212,300      178,155

LyondellBasell, Dutch Tranche Revolving Credit Loan, 3.78%, 2013 (o)

     24,937      10,754

LyondellBasell, Dutch Tranche Term Loan, 3.78%, 2013 (o)

     57,923      24,979

LyondellBasell, German Tranche Term Loan B-1, 4.03%, 2014 (o)

     71,585      30,871

LyondellBasell, German Tranche Term Loan B-2, 4.03%, 2014 (o)

     71,585      30,871

LyondellBasell, German Tranche Term Loan B-3, 4.03%, 2014 (o)

     71,596      30,876

LyondellBasell, U.S. Tranche Revolving Credit Loan, 3.78%, 2013 (o)

     93,501      40,322

LyondellBasell, U.S. Tranche Term Loan, 3.78%, 2013 (o)

     178,180      76,840

LyondellBasell, U.S. Tranche Term Loan B-1, 7%, 2014 (o)

     310,473      133,891

LyondellBasell, U.S. Tranche Term Loan B-2, 7%, 2014 (o)

     310,477      133,893

LyondellBasell, U.S. Tranche Term Loan B-3, 7%, 2014 (o)

     310,477      133,893
         
      $ 1,044,849
         

Specialty Stores – 0.2%

     

Michaels Stores, Inc., Term Loan B, 2.56%, 2013

   $ 1,329,073    $ 1,090,315
         

Utilities - Electric Power – 0.7%

     

Calpine Corp., Term Loan, 3.47%, 2014

   $ 1,828,447    $ 1,677,601

Texas Competitive Electric Holdings Co. LLC, Term Loan B-3, 3.8%, 2014

     2,640,181      2,025,101
         
      $ 3,702,702
         

Total Floating Rate Loans

      $ 15,015,760
         

Preferred Stocks – 0.0%

     

Financial Institutions – 0.0%

     

Preferred Blocker, Inc., 7% (z)

     371    $ 170,834
         

Common Stocks – 0.0%

     

Printing & Publishing – 0.0%

     

American Media, Inc. (a)

     5,455    $ 7,310

Golden Books Family Entertainment, Inc. (a)

     19,975      0
         

Total Common Stocks

      $ 7,310
         

Rights – 0.0%

     

Emerging Market Sovereign – 0.0%

     

Banco Central del Uruguay, Value Recovery Rights, Expiring January 2021 (a)

     1,250,000    $ 0
         

Money Market Funds (v) – 3.6%

     

MFS Institutional Money Market Portfolio, 0.21%, at Net Asset Value

     18,166,807    $ 18,166,807
         

 

11


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09 - continued

 

Total Investments

   $ 528,707,290   
        

Other Assets, Less Liabilities – (4.1)%

     (20,616,854
        

Net Assets – 100.0%

   $ 508,090,436   
        

 

(a) Non-income producing security.

 

(d) Non-income producing security - in default.

 

(f) All or a portion of the security has been segregated as collateral for open futures contracts.

 

(g) The rate shown represents a weighted average coupon rate on settled positions at period end, unless otherwise indicated.

 

(i) Interest only security for which the trust receives interest on notional principal (Par amount). Par amount shown is the notional principal and does not reflect the cost of the security.

 

(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 $94,989,368, representing 18.69% 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 represents the weighted average coupon rate for settled amounts.

 

(p) Payment-in-kind security.

 

(q) All or a portion of this position represents an unfunded loan commitment. The rate shown represents a weighted average coupon rate on the full position, including the unfunded loan commitment which has no current coupon rate.

 

(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 fund that is available only to investment companies managed by MFS. The rate quoted 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    Current
Market Value
 

ARCap REIT, Inc., CDO, “H”, 6.077%, 2045

   9/21/04    $ 1,767,145    $ 120,000   

American Media Operations, Inc., 9%, 2013

   1/29/09 - 4/15/09      18,226      13,616   

American Media Operations, Inc., 14%, 2013

   1/29/09 - 4/15/09      161,152      138,280   

Arch Coal, Inc., 8.75%, 2016

   7/28/09      521,436      540,350   

Bayview Financial Revolving Mortgage Loan Trust, FRN, 1.085%, 2040

   3/01/06      4,000,000      1,476,400   

Celulosa Arauco y Constitucion S.A., 7.25%, 2019

   7/22/09      269,035      281,738   

Commercial Barge Line Co., 12.5%, 2017

   7/01/09 - 7/20/09      505,208      507,475   

DLJ Commercial Mortgage Corp., 6.04%, 2031

   7/23/04      1,969,453      1,951,075   

ELETROBRAS S.A., 6.875%, 2019

   7/23/09      215,073      219,441   

Ecopetrol S.A., 7.625%, 2019

   7/16/09      818,061      857,945   

Empresas Publicas de Medellin, 7.625%, 2019

   7/22/09      359,749      379,542   

Falcon Franchise Loan LLC, FRN, 3.69%, 2025

   1/29/03      624,514      400,765   

GMAC LLC, FRN, 6.02%, 2033

   11/17/00      2,438,085      2,006,539   

Gaz Capital S.A., 8.125%, 2014

   7/22/09      2,200,000      2,222,000   

KazMunaiGaz Finance B.V., 11.75%, 2015

   7/16/09 - 7/28/09      1,785,858      1,870,960   

Korea National Oil Corp., 5.375%, 2014

   7/23/09      1,441,481      1,481,834   

Local TV Finance LLC, 9.25%, 2015

   11/09/07 - 6/01/09      617,153      133,615   

Morgan Stanley Capital I, Inc., FRN, 1.275%, 2039

   7/20/04      413,636      263,229   

PE Paper Escrow GmbH, 12%, 2014

   7/24/09      207,320      216,910   

PNC Mortgage Acceptance Corp., FRN, 7.1%, 2032

   3/25/08      2,490,000      2,377,824   

Preferred Blocker, Inc., 7% (Preferred Stock)

   12/26/08      285,670      170,834   

Prudential Securities Secured Financing Corp., FRN, 7.284%, 2013

   12/06/04      2,865,414      2,129,728   

Ras Laffan Liquefied Natural Gas Co. Ltd., 5.5%, 2014

   7/16/09      609,576      624,433   

Ras Laffan Liquefied Natural Gas Co. Ltd., 6.75%, 2019

   7/16/09      1,479,542      1,521,493   

SBA Telecommunications, Inc., 8%, 2016

   7/21/09      337,722      343,400   

SBA Telecommunications, Inc., 8.25%, 2019

   7/21/09      292,498      299,425   

System Energy Resources, Inc., 5.129%, 2014

   4/16/04      1,572,375      1,556,682   

Toys “R” Us, Inc., 10.75%, 2017

   7/01/09 - 7/27/09      1,352,385      1,399,125   

USG Corp., 9.75%, 2014

   7/30/09      196,172      204,000   

Wind Acquisition Finance S.A., 10.75%, 2015

   3/19/08      603,505      638,120   

Woori America Bank, 7%, 2015

   7/27/09      339,561      356,345   
              

Total Restricted Securities

         $ 26,703,123   

% of Net Assets

           5.3

 

12


MFS Multimarket Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 7/31/09 - continued

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

 

CDO

   Collateralized Debt Obligation

CLN

   Credit-Linked Note

DIP

   Debtor-in-Possession

FRN

   Floating Rate Note. Interest rate resets periodically and 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:

 

AUD

   Australian Dollar

BRL

   Brazilian Real

CAD

   Canadian Dollar

CHF

   Swiss Franc

EUR

   Euro

GBP

   British Pound

IDR

   Indonesian Rupiah

INR

   Indian Rupee

JPY

   Japanese Yen

SEK

   Swedish Krona

TRY

   Turkish Lira

ZAR

   South African Rand

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

 

13


MFS Multimarket Income Trust

Supplemental Information (Unaudited) 7/31/09

(1) Investment Valuations

Equity securities, including restricted equity securities, are generally valued at the last sale or official closing price as provided by a third-party pricing service on the market or exchange on which they are primarily traded. For securities for which there were no sales reported that day, equity securities are generally valued at the last quoted daily bid quotation as provided by a third-party pricing service on the market or exchange on which such securities are primarily traded. For securities held short for which there were no sales reported for that day, the position is generally valued at the last quoted daily ask quotation as provided by a third-party pricing service on the market or exchange on which such securities are primarily traded. Debt instruments and floating rate loans (other than short-term instruments), 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 generally are valued at amortized cost, which approximates market value. Futures contracts are generally valued at last posted settlement price as provided by a third-party pricing service on the market on which they are primarily traded. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation as provided by a third-party pricing service on the market on which such futures contracts are primarily traded. Forward foreign currency 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. Swaps are generally valued at valuations provided by a third-party pricing service. 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. Events that occur on a frequent basis 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 affect 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.

The fund adopted FASB Statement No. 157, Fair Value Measurements (the “Statement”). This Statement provides a single definition of fair value, a hierarchy for measuring fair value and expanded disclosures about fair value measurements.

 

14


MFS Multimarket Income Trust

Supplemental Information (Unaudited) 7/31/09 - continued

Various inputs are used in determining the value of the fund’s assets or liabilities carried at market value. 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 futures, forwards, swap contracts, and written options. The following is a summary of the levels used as of July 31, 2009 in valuing the fund’s assets or liabilities carried at market value:

 

Investments at Value

   Level 1    Level 2     Level 3    Total  

Equity Securities

   $ —      $ 170,834      $ 7,310    $ 178,144   

U.S. Treasury Bonds & U.S. Government Agency & Equivalents

     —        15,253,786        —        15,253,786   

Non-U.S. Sovereign Debt

     —        128,402,483        —        128,402,483   

Corporate Bonds

     —        282,078,626        —        282,078,626   

Residential Mortgage-Backed Securities

     —        3,634,802        —        3,634,802   

Commercial Mortgage-Backed Securities

     —        21,252,056        —        21,252,056   

Asset-Backed Securities (including CDOs)

     —        1,751,668        —        1,751,668   

Foreign Bonds

     —        40,665,382        —        40,665,382   

Floating Rate Loans

     —        15,015,760        —        15,015,760   

Other Fixed Income Securities

     —        2,307,776        —        2,307,776   

Mutual Funds

     18,166,807      —          —        18,166,807   
                              

Total Investments

   $ 18,166,807    $ 510,533,173      $ 7,310    $ 528,707,290   
                              

Other Financial Instruments

          

Futures

   $ 86,544    $ —        $ —      $ 86,544   

Swaps

     —        (3,544     —        (3,544

Forward Currency Contracts

     —        (38,287     —        (38,287

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. The table presents the activity of Level 3 securities held at the beginning and the end of the period.

 

     Equity
Securities
 

Balance as of 10/31/08

   $ —     

Accrued discounts/premiums

     —     

Realized gain (loss)

     —     

Change in unrealized appreciation (depreciation)

     (4,364

Net purchases (sales)

     11,674   

Transfers in and/or out of Level 3

     —     
        

Balance as of 7/31/09

   $ 7,310   
        

(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

   $ 525,362,636   
        

Gross unrealized appreciation

   $ 34,580,535   

Gross unrealized depreciation

     (31,235,881
        

Net unrealized appreciation (depreciation)

   $ 3,344,654   
        

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

 

15


MFS Multimarket Income Trust

Supplemental Information (Unaudited) 7/31/09 - continued

(3) Derivative Contracts at 7/31/09

Forward Foreign Currency Exchange Contracts at 7/31/09

 

Type

   Currency   

Counterparty

   Contracts to
Deliver/Receive
   Settlement Date
Range
   In Exchange For    Contracts
at Value
   Net Unrealized
Appreciation
(Depreciation)
 

Asset Derivatives

  

BUY

   AUD    UBS AG    1,510,329    8/31/09    $ 1,248,000    $ 1,260,817    $ 12,817   

BUY

   BRL    HSBC Bank    2,478,430    8/06/09      1,220,000      1,327,852      107,852   

BUY

   IDR    JPMorgan Chase Bank    12,232,385,853    8/10/09      1,185,309      1,230,982      45,673   

BUY

   INR    Deutsche Bank AG    55,677,065    8/24/09      1,147,271      1,159,355      12,084   

SELL

   JPY    JPMorgan Chase Bank    1,315,523,598    10/15/09      14,244,205      13,911,976      332,229   

BUY

   SEK    Citibank N.A.    9,346,006    8/31/09      1,248,000      1,295,346      47,346   

BUY

   TRY    Barclays Bank PLC    3,685,765    8/03/09 - 8/31/09      2,469,120      2,498,210      29,090   
                          
                     $ 587,091   
                          

Liability Derivatives

  

SELL

   CAD    UBS AG    1,157,948    8/17/09    $ 990,664    $ 1,074,953    $ (84,289

SELL

   CHF    Credit Suisse Group    1,301,476    10/15/09      1,217,471      1,218,709      (1,238

SELL

   CHF    HSBC Bank    1,325,298    10/15/09      1,238,000      1,241,016      (3,016

SELL

   EUR    Barclays Bank PLC    882,481    9/17/09      1,249,000      1,257,884      (8,884

SELL

   EUR    Deutsche Bank AG    286,000    9/17/09      403,417      407,663      (4,246

SELL

   EUR    JPMorgan Chase Bank    681,535    10/15/09      952,329      971,446      (19,117

SELL

   EUR    UBS AG    20,401,828    9/17/09      28,747,400      29,080,667      (333,267

SELL

   GBP    Barclays Bank PLC    446,809    10/15/09      723,920      746,262      (22,342

SELL

   GBP    Deutsche Bank AG    446,809    10/15/09      724,135      746,262      (22,127

BUY

   JPY    UBS AG    18,687,903    10/15/09      198,748      197,629      (1,119

SELL

   SEK    UBS AG    1,764,899    8/31/09      223,425      244,613      (21,188

SELL

   TRY    Barclays Bank PLC    1,842,883    8/03/09      1,239,329      1,252,852      (13,523

SELL

   ZAR    HSBC Bank    10,058,541    8/20/09      1,201,048      1,292,070      (91,022
                          
                     $ (625,378
                          

Futures Contracts Outstanding at 7/31/09

 

Description

   Currency    Contracts    Value    Expiration
Date
   Unrealized
Appreciation
(Depreciation)

Asset Derivatives

              

Interest Rate Futures

              

U.S. Treasury Note (Long)

   USD    50    $ 5,950,000    Sep-09    $ 86,544

Swap Agreements at 7/31/09

 

Expiration

        Notional
Amount
  

Counterparty

   Cash Flows
to Receive
   

Cash Flows

to Pay

   Fair Value  

Liability Derivatives

                

Credit Default Swaps

                

6/20/13

   USD    1,110,000    Morgan Stanley Capital Services, Inc.    (1   1.48% (fixed rate)    $ (3,544

 

(1) Fund, as protection buyer, to receive notional amount upon a defined credit event by Weyerhaeuser Co. IDB, 7.125%, 7/15/23.

At July 31, 2009, the fund had sufficient cash and/or other liquid securities to cover any commitments under these derivative contracts.

 

16


MFS Multimarket Income Trust

Supplemental Information (Unaudited) 7/31/09 - continued

(4) Transactions in Underlying 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 affiliated issuers:

 

Underlying Funds

   Beginning
Shares/Par
Amount
   Acquisitions
Shares/Par
Amount
   Dispositions
Shares/Par
Amount
    Ending
Shares/Par
Amount

MFS Institutional Money Market Portfolio

     —        124,591,362      (106,424,555     18,166,807

Underlying Funds

   Realized
Gain
(Loss)
   Capital Gain
Distributions
   Dividend
Income
    Ending
Value

MFS Institutional Money Market Portfolio

   $ —      $ —      $ 21,524      $ 18,166,807

(5) Country Weightings

Country weighting percentages of portfolio holdings based on total net assets as of July 31, 2009, are as follows:

 

United States

   66.4

Japan

   2.9

Russia

   2.5

Brazil

   2.4

Qatar

   1.9

United Kingdom

   1.7

Italy

   1.6

Indonesia

   1.6

Canada

   1.3

Other Countries

   17.7

The country weighting percentages include both accrued interest amounts and the equivalent exposure from any derivative holdings, if applicable.

 

17


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 Amended and Restated 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 MULTIMARKET INCOME TRUST

 

By (Signature and Title)*    MARIA F. DWYER
  Maria F. Dwyer, President

Date: September 16, 2009

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)*    MARIA F. DWYER
 

Maria F. Dwyer, President

(Principal Executive Officer)

Date: September 16, 2009

 

By (Signature and Title)*    JOHN M. CORCORAN
 

John M. Corcoran, Treasurer

(Principal Financial Officer and Accounting Officer)

Date: September 16, 2009

 

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