Asset manager

Massachusetts Financial Services Co

13F for the quarter to June 30, 2026, filed August 3, 2026 · SEC CIK 912938

Reported value: $314.7bn
Positions we cover: 928
Copy, a year: +13.1%
Copy Sharpe ratio: 0.73

How copying its 13F would have done

CopyS&P 500 $10,000 copying Massachusetts Financial Services Co's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −32.2% (S&P 500 −31.8%); beta 0.97; alpha −0.5% a year (t = −0.58); last 12 months +11.2% against +12.1%.

Reported value by quarter

Massachusetts Financial Services Co: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).

View chart data

Period	Reported value
2013-06-30	$147.9T
2013-09-30	$161.3T
2013-12-31	$178.2T
2014-03-31	$182.7T
2014-06-30	$191.2B
2014-09-30	$188.8B
2014-12-31	$196.5T
2015-03-31	$197.6T
2015-06-30	$196.5T
2015-09-30	$178.9B
2015-12-31	$187.1B
2016-03-31	$192.4B
2016-06-30	$198.4B
2016-09-30	$205.3B
2016-12-31	$203.9B
2017-03-31	$213.2B
2017-06-30	$224.7B
2017-09-30	$230.2B
2017-12-31	$238.4B
2018-03-31	$233.4B
2018-06-30	$233.4B
2018-09-30	$242.7B
2018-12-31	$208.3B
2019-03-31	$237.3B
2019-06-30	$245.4B
2019-09-30	$249.1B
2019-12-31	$266.1B
2020-03-31	$209.8B
2020-06-30	$253.4B
2020-09-30	$275.9B
2020-12-31	$311.3B
2021-03-31	$325.3B
2021-06-30	$343.3B
2021-09-30	$341.8B
2021-12-31	$365.3B
2022-03-31	$337.4B
2022-06-30	$290.1B
2022-09-30	$267.4B
2022-12-31	$286.4T
2023-03-31	$291.9B
2023-06-30	$304.4B
2023-09-30	$285.4B
2023-12-31	$309.3B
2024-03-31	$334.3B
2024-06-30	$325.2B
2024-09-30	$334.6B
2024-12-31	$316.7B
2025-03-31	$300.8B
2025-06-30	$315.1B
2025-09-30	$322.8B
2025-12-31	$309.9B
2026-03-31	$297.2B
2026-06-30	$314.7B

Holdings and moves

Company	Share of portfolio	Value	Shares	Change in shares
NVDANVIDIA Corporation	4.34%	$13.7bn	62.51M	−4.2% Reduced
GOOGLAlphabet Inc. (Class A)	3.34%	$10.5bn	28.69M	+22.6% Added
AAPLApple Inc.	2.84%	$8.9bn	30.36M	+0.2%
AMZNAmazon	2.81%	$8.8bn	32.07M	+23.6% Added
MSFTMicrosoft Corporation	2.78%	$8.8bn	20.44M	−19.8% Reduced
AVGOBroadcom	1.74%	$5.5bn	12.08M	+34.6% Added
TSMTaiwan Semiconductor Manufacturing Co LTD	1.50%	$4.7bn	9.51M	−1.7% Reduced
KLACKLA Corporation	1.42%	$4.5bn	14.67M	+793.5% Added
JPMJPMorgan Chase	1.28%	$4.0bn	12.27M	−16.3% Reduced
LINLinde plc	1.03%	$3.3bn	4.92M	+3.5% Added
UBSUBS Group AG	1.02%	$3.2bn	62.93M	−4.0% Reduced
CICigna	0.92%	$2.9bn	10.44M	−9.9% Reduced
MAMastercard	0.90%	$2.8bn	5.38M	−2.6% Reduced
JNJJohnson & Johnson	0.86%	$2.7bn	10.54M	−21.6% Reduced
MDTMedtronic	0.83%	$2.6bn	19.87M	−7.3% Reduced
AONAon plc	0.82%	$2.6bn	7.62M	−8.9% Reduced
VVisa Inc.	0.81%	$2.5bn	3.74M	−10.1% Reduced
WATWaters Corporation	0.80%	$2.5bn	4.63M	−0.1%
STXSeagate Technology	0.80%	$2.5bn	2.56M	+1.0% Added
BDXBecton Dickinson	0.79%	$2.5bn	8.65M	−4.9% Reduced
FNVFranco Nevada Corp	0.75%	$2.4bn	11.05M	−0.4%
TMOThermo Fisher Scientific	0.72%	$2.3bn	2.97M	−1.6% Reduced
WTWWillis Towers Watson	0.72%	$2.3bn	5.49M	−6.4% Reduced
RTXRTX Corporation	0.71%	$2.2bn	11.74M	−17.0% Reduced
ADIAnalog Devices	0.68%	$2.2bn	5.40M	−13.1% Reduced
SCHWCharles Schwab Corporation	0.68%	$2.1bn	13.36M	−8.0% Reduced
ETNEaton Corporation	0.67%	$2.1bn	4.88M	+4.1% Added
METAMeta Platforms	0.66%	$2.1bn	3.60M	−18.3% Reduced
CBChubb Limited	0.64%	$2.0bn	5.89M	−9.6% Reduced
APHAmphenol	0.61%	$1.9bn	10.52M	−24.7% Reduced
AEMAgnico Eagle Mines LTD	0.61%	$1.9bn	11.92M	+0.5%
MSMorgan Stanley	0.61%	$1.9bn	9.21M	−21.6% Reduced
CATCaterpillar Inc.	0.60%	$1.9bn	1.75M	+10.4% Added
COPConocoPhillips	0.60%	$1.9bn	17.97M	−11.3% Reduced
MCKMcKesson	0.59%	$1.9bn	2.45M	−15.6% Reduced
GEVGE Vernova	0.59%	$1.8bn	1.55M	−4.8% Reduced
NDAQNasdaq, Inc.	0.58%	$1.8bn	23.26M	−20.0% Reduced
NXPINXP Semiconductors	0.58%	$1.8bn	6.46M	−14.7% Reduced
UNPUnion Pacific Corporation	0.55%	$1.7bn	6.27M	−10.8% Reduced
ANETArista Networks	0.54%	$1.7bn	9.73M	+34.6% Added
PCGPG&E Corporation	0.54%	$1.7bn	101.48M	−7.2% Reduced
PGRProgressive Corporation	0.53%	$1.7bn	7.66M	−36.7% Reduced
HUMHumana	0.53%	$1.7bn	3.58M	−20.2% Reduced
DUKDuke Energy	0.52%	$1.6bn	12.74M	−11.5% Reduced
RYAAYRyanair Holdings PLC	0.50%	$1.6bn	24.06M	−0.2%
MUMicron Technology	0.50%	$1.6bn	1.36M	+2109.3% Added
PMPhilip Morris International	0.50%	$1.6bn	8.57M	−0.7% Reduced
PLDPrologis	0.49%	$1.5bn	11.22M	−20.2% Reduced
AXPAmerican Express	0.49%	$1.5bn	4.47M	−11.8% Reduced
CCitigroup	0.49%	$1.5bn	10.95M	−18.0% Reduced
TDToronto Dominion Bank	0.48%	$1.5bn	11.16M	−21.5% Reduced
BSXBoston Scientific	0.48%	$1.5bn	24.86M	+126.1% Added
PNCPNC Financial Services	0.47%	$1.5bn	6.02M	−20.0% Reduced
CRHCRH plc	0.47%	$1.5bn	13.56M	+0.4%
TRUTransunion	0.47%	$1.5bn	10.67M	−18.9% Reduced
GDGeneral Dynamics	0.47%	$1.5bn	4.14M	−27.4% Reduced
BABoeing	0.47%	$1.5bn	6.89M	−21.1% Reduced
HONHoneywell Technologies	0.45%	$1.4bn	5.07M	New
TRVThe Travelers Companies	0.45%	$1.4bn	4.24M	−13.5% Reduced
RBARB Global Inc.	0.45%	$1.4bn	11.72M	+4.3% Added
TXNTexas Instruments	0.44%	$1.4bn	4.65M	−12.7% Reduced
PFEPfizer	0.44%	$1.4bn	56.55M	−0.6% Reduced
MARMarriott International	0.44%	$1.4bn	3.71M	−13.0% Reduced
HONAHoneywell Aerospace	0.44%	$1.4bn	5.01M	New
AAgilent Technologies	0.43%	$1.4bn	10.01M	−20.7% Reduced
DDominion Energy	0.43%	$1.4bn	20.03M	−24.8% Reduced
HWMHowmet Aerospace	0.43%	$1.4bn	4.97M	−34.8% Reduced
AMDAdvanced Micro Devices	0.43%	$1.4bn	2.32M	+301.1% Added
SOSouthern Company	0.42%	$1.3bn	13.83M	−11.3% Reduced
XELXcel Energy	0.42%	$1.3bn	16.27M	−10.0% Reduced
ABTAbbott Laboratories	0.39%	$1.2bn	13.36M	−13.8% Reduced
SPCXSpace Exploration Technologies Corp	0.39%	$1.2bn	7.06M	New
CHKPCheck Point Software Technologies LTD	0.37%	$1.2bn	8.57M	+7.9% Added
LOWLowe's	0.36%	$1.1bn	5.22M	−13.2% Reduced
HLTHilton Worldwide	0.36%	$1.1bn	3.36M	−2.7% Reduced
ABBVAbbVie	0.35%	$1.1bn	4.39M	−21.8% Reduced
AMATApplied Materials	0.35%	$1.1bn	1.52M	+28.8% Added
CDNSCadence Design Systems Inc	0.35%	$1.1bn	2.92M	−1.8% Reduced
NEENextEra Energy	0.35%	$1.1bn	12.52M	−5.1% Reduced
WFCWells Fargo	0.35%	$1.1bn	13.26M	−12.2% Reduced
MRSHMarsh McLennan	0.35%	$1.1bn	6.51M	−20.6% Reduced
VIKViking Holdings Ltd	0.33%	$1.0bn	9.69M	+22.7% Added
PCARPaccar	0.32%	$1.0bn	8.49M	−17.7% Reduced
CVXChevron Corporation	0.32%	$1.0bn	6.07M	−14.6% Reduced
NTRSNorthern Trust	0.32%	$1.0bn	5.70M	−1.8% Reduced
SPOTSpotify Technology S.a.	0.32%	$990.4m	2.13M	+3.5% Added
KKRKKR & Co.	0.31%	$977.6m	10.62M	−26.0% Reduced
COHRCoherent Corp.	0.29%	$920.6m	2.32M	+28.1% Added
BLKBlackRock	0.29%	$919.1m	954.9K	−12.8% Reduced
ARMKAramark	0.29%	$903.1m	15.58M	−11.3% Reduced
KMBKimberly-Clark	0.28%	$894.9m	8.16M	+6.7% Added
PEPPepsiCo	0.28%	$887.4m	6.46M	−11.2% Reduced
BACBank of America	0.28%	$884.4m	15.19M	+54.4% Added
GILDGilead Sciences	0.28%	$876.7m	6.65M	+5.9% Added
KVUEKenvue	0.27%	$861.9m	44.72M	−10.1% Reduced
STESteris	0.27%	$850.4m	3.80M	−5.2% Reduced
HUBBHubbell Incorporated	0.27%	$833.4m	1.55M	+0.6% Added
CPCanadian Pacific Kansas City LTD	0.26%	$820.5m	4.25M	−12.2% Reduced
TTWOTake TWO Interactive Software Inc	0.26%	$813.2m	3.24M	−25.5% Reduced
MDLNMedline Inc.	0.25%	$787.1m	19.89M	+71.9% Added
DHRDanaher Corporation	0.24%	$762.2m	3.88M	−6.9% Reduced
SHOPShopify Inc.	0.24%	$755.4m	5.95M	−1.3% Reduced
TKOTKO Group Holdings	0.24%	$753.8m	3.73M	+5.2% Added
TTTrane Technologies	0.24%	$752.3m	1.52M	−6.0% Reduced
ELVElevance Health	0.24%	$749.4m	1.94M	−13.4% Reduced
WPMWheaton Precious Metals Corp.	0.24%	$741.6m	6.29M	−0.1%
SNOWSnowflake Inc.	0.22%	$698.3m	2.72M	+61.5% Added
ITWIllinois Tool Works	0.22%	$698.1m	2.58M	−22.1% Reduced
APDAir Products	0.22%	$688.0m	445.1K	−23.7% Reduced
GSGoldman Sachs	0.21%	$665.7m	638.4K	−34.2% Reduced
EGEverest Group	0.21%	$660.4m	964.8K	+26.5% Added
MNSTMonster Beverage	0.21%	$653.7m	6.73M	−0.7% Reduced
CVECenovus Energy Inc.	0.21%	$650.5m	16.12M	−7.3% Reduced
TSLATesla, Inc.	0.20%	$631.0m	1.48M	+693.7% Added
VMCVulcan Materials Company	0.20%	$625.2m	2.10M	−7.7% Reduced
CWCurtiss Wright Corp	0.20%	$623.7m	817.1K	+5.9% Added
EFXEquifax	0.20%	$620.4m	3.87M	−17.7% Reduced
LNGCheniere Energy, Inc.	0.20%	$617.6m	2.56M	−16.0% Reduced
OMCOmnicom Group	0.19%	$611.7m	8.31M	−4.9% Reduced
MPWRMonolithic Power Systems, Inc.	0.19%	$611.2m	442.2K	−22.1% Reduced
ABNBAirbnb	0.19%	$607.9m	4.18M	+37.0% Added
LYVLive Nation Entertainment	0.19%	$591.3m	3.23M	+1.5% Added
RYRoyal Bank Of Canada	0.18%	$577.1m	2.00M	−7.3% Reduced
CMSCMS Energy	0.18%	$576.0m	7.24M	−5.1% Reduced
SNDKSandisk	0.18%	$574.9m	249.7K	+2111.0% Added
AXONAxon Enterprise	0.18%	$574.1m	1.02M	+0.5%
AEPAmerican Electric Power	0.18%	$572.6m	4.18M	−7.0% Reduced
NOCNorthrop Grumman	0.18%	$572.2m	1.12M	−26.2% Reduced
ORLYO'Reilly Automotive	0.18%	$572.1m	6.10M	−16.1% Reduced
SBUXStarbucks	0.18%	$567.0m	5.48M	−8.5% Reduced
MCOMoody's Corporation	0.18%	$565.8m	1.19M	−10.7% Reduced
CRMSalesforce	0.18%	$559.0m	3.54M	−27.4% Reduced
RNRRenaissancere Holdings LTD	0.17%	$542.8m	397.8K	+30.8% Added
LRCXLam Research	0.17%	$540.3m	1.22M	−63.2% Reduced
NTRANatera, Inc.	0.17%	$535.1m	1.97M	−3.4% Reduced
LNTAlliant Energy	0.17%	$533.8m	6.94M	−1.6% Reduced
GWWW. W. Grainger	0.17%	$532.9m	388.2K	−14.4% Reduced
HHyatt Hotels Corp	0.17%	$530.8m	2.74M	−4.1% Reduced
ROSTRoss Stores	0.17%	$529.3m	2.42M	+34.6% Added
FERGFerguson Enterprises	0.17%	$518.2m	2.17M	+17.5% Added
CCEPCoca-cola Europacific Partners plc	0.16%	$512.2m	5.15M	+11.0% Added
EOGEOG Resources	0.16%	$504.5m	3.88M	−17.9% Reduced
VLOValero Energy	0.16%	$503.7m	1.91M	−5.3% Reduced
VSTVistra Corp.	0.16%	$501.6m	3.16M	−20.0% Reduced
ASNDAscendis Pharma A/s	0.16%	$500.1m	1.88M	New
FTITechnipFMC plc	0.16%	$492.1m	7.31M	−5.2% Reduced
UBERUber	0.15%	$482.7m	6.57M	+2.5% Added
APTVAptiv	0.15%	$473.9m	7.49M	+785.3% Added
ALVAutoliv Inc	0.15%	$468.6m	866.3K	+9.9% Added
CCJCameco Corp	0.15%	$462.1m	4.29M	+49.5% Added

Company	Bought (value)	Shares
KLACKLA Corporation	$4.0bn	13.03M
GOOGLAlphabet Inc. (Class A)	$1.9bn	5.28M
AMZNAmazon	$1.7bn	6.11M
MUMicron Technology	$1.5bn	1.30M
HONHoneywell Technologies	$1.4bn	5.07M
AVGOBroadcom	$1.4bn	3.10M
HONAHoneywell Aerospace	$1.4bn	5.01M
SPCXSpace Exploration Technologies Corp	$1.2bn	7.06M
AMDAdvanced Micro Devices	$1.0bn	1.74M
BSXBoston Scientific	$835.4m	13.86M
TSLATesla, Inc.	$551.5m	1.29M
SNDKSandisk	$548.9m	238.4K
ASNDAscendis Pharma A/s	$500.1m	1.88M
ANETArista Networks	$439.8m	2.50M
FIXComfort Systems USA	$439.6m	220.5K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
MSFTMicrosoft Corporation	−$2.2bn	−5.03M
GEGE Aerospace	−$1.1bn	−3.03M
PGRProgressive Corporation	−$963.8m	−4.44M
LRCXLam Research	−$926.9m	−2.09M
ACNAccenture	−$896.6m	−6.78M
JPMJPMorgan Chase	−$784.6m	−2.39M
JNJJohnson & Johnson	−$742.6m	−2.90M
HWMHowmet Aerospace	−$723.8m	−2.65M
LPLALPL Financial Holdings Inc.	−$683.8m	−2.41M
APHAmphenol	−$632.2m	−3.44M
NVDANVIDIA Corporation	−$605.2m	−2.77M
FLEXFlex Ltd.	−$569.4m	−3.51M
GDGeneral Dynamics	−$559.7m	−1.56M
MSMorgan Stanley	−$528.4m	−2.54M
APPApplovin Corp	−$501.5m	−973.3K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Value last quarter	Shares
RVTYRevvity	$93.4m	1.07M
HIIHuntington Ingalls Industries	$91.9m	241.9K
GEHCGE HealthCare	$89.8m	1.26M
GPKGraphic Packaging Holding Co	$74.1m	7.46M
VFCVF Corporation	$69.7m	4.10M
ORCLOracle Corporation	$64.9m	438.3K
PBRPetrobras - Petroleo Brasileiro SA	$64.1m	3.08M
IBMIBM	$63.5m	260.2K
SHOSunstone Hotel Investors, Inc.	$45.9m	4.73M
MKCMcCormick & Company	$36.4m	666.3K
NJRNEW Jersey Resources Corp	$36.0m	655.4K
SUNBSunbelt Rentals Holdings, Inc.	$31.7m	560.2K
DEIDouglas Emmett Inc	$28.2m	2.79M
OROR Royalties Inc.	$25.1m	660.1K
CCChemours Co	$20.9m	947.3K
GENIGenius Sports Ltd	$17.5m	3.96M
REZIResideo Technologies, Inc.	$17.1m	508.1K
VSNTVersant Media Group, Inc.	$15.8m	419.4K
OGNOrganon & Co.	$10.1m	1.69M
FSLRFirst Solar, Inc.	$7.1m	36.1K
ELThe Estée Lauder Companies	$5.7m	79.2K
TEMTempus AI, Inc.	$5.4m	118.4K
ABSIAbsci Corp	$5.2m	1.72M
SDHCSmith Douglas Homes Corp.	$4.1m	322.2K
CHWYChewy, Inc.	$4.0m	146.9K
APGApi Group Corp	$3.8m	92.9K
BETABeta Technologies, Inc.	$3.3m	225.1K
EDUNew Oriental Education & Technology Group Inc.	$3.3m	57.8K
TMToyota Motor Corp/	$3.2m	15.8K
GSATGlobalstar, Inc.	$2.0m	29.5K

Technology25.4%
Financials17.1%
Industrials13.8%
Health Care11.8%
Consumer Discretionary8.1%
Communication Services5.8%
Materials4.8%
Utilities4.7%
Energy3.3%
Consumer Staples2.8%
Real Estate2.4%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestAugust 16, 2013 to November 2, 2026	+13.1%	+14.1%	0.73	0.78	−32.2%	0.97
2018 onwardsJanuary 5, 2018 to November 2, 2026	+11.8%	+13.9%	0.56	0.66	−32.2%	0.96
Last three yearsNovember 3, 2023 to November 2, 2026	+17.5%	+21.8%	0.99	1.16	−14.9%	0.85
Last yearNovember 7, 2025 to November 2, 2026	+12.2%	+14.2%	0.79	0.84	−8.3%	0.75

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.