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Funds (13F)

Massachusetts Financial Services Co

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+13.1%
S&P 500 +14.1%
Last 12 months
+11.2%
S&P 500 +12.1%
Sharpe ratio
0.73
S&P 500 0.78
Biggest drop
−32.2%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$51.0k
StrategyS&P 500 $10,000 in Massachusetts Financial Services Co from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Massachusetts Financial Services Co's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Massachusetts Financial Services Co's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+13.1%+14.1%
Total return+410%+470%
Last 12 months+11.2%+12.1%
Last 3 months+0.4%—
Last month+0.5%—
This year so far+8.1%—
Volatility a year15.8%16.0%
Sharpe ratio0.730.78
Biggest drop−32.2%−31.8%
Beta to the S&P 5000.971.00
Alpha a year (t-statistic)−0.5% (−0.58)—
Share of weeks up59%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
NVDA4.4%——
GOOGL3.4%——
AAPL2.9%——
AMZN2.9%——
MSFT2.9%——
AVGO1.8%——
TSM1.5%——
KLAC1.4%——
JPM1.3%——
LIN1.1%——
UBS1.0%——
CI0.9%——
MA0.9%——
JNJ0.9%——
MDT0.8%——
AON0.8%——
V0.8%——
WAT0.8%——
STX0.8%——
BDX0.8%——
FNV0.8%——
TMO0.7%——
WTW0.7%——
RTX0.7%——
ADI0.7%——
SCHW0.7%——
ETN0.7%——
META0.7%——
CB0.7%——
APH0.6%——
AEM0.6%——
MS0.6%——
CAT0.6%——
COP0.6%——
MCK0.6%——
GEV0.6%——
NDAQ0.6%——
NXPI0.6%——
UNP0.6%——
ANET0.6%——
PCG0.6%——
PGR0.5%——
HUM0.5%——
DUK0.5%——
RYAAY0.5%——
MU0.5%——
PM0.5%——
PLD0.5%——
AXP0.5%——
C0.5%——
TD0.5%——
BSX0.5%——
PNC0.5%——
CRH0.5%——
TRU0.5%——
GD0.5%——
BA0.5%——
HON0.5%——
TRV0.5%——
RBA0.5%——
TXN0.5%——
PFE0.5%——
MAR0.5%——
HONA0.5%——
A0.4%——
D0.4%——
HWM0.4%——
AMD0.4%——
SO0.4%——
XEL0.4%——
ABT0.4%——
SPCX0.4%——
CHKP0.4%——
LOW0.4%——
HLT0.4%——
ABBV0.4%——
AMAT0.4%——
CDNS0.4%——
NEE0.4%——
WFC0.4%——
MRSH0.3%——
VIK0.3%——
PCAR0.3%——
CVX0.3%——
NTRS0.3%——
SPOT0.3%——
KKR0.3%——
COHR0.3%——
BLK0.3%——
ARMK0.3%——
KMB0.3%——
PEP0.3%——
BAC0.3%——
GILD0.3%——
KVUE0.3%——
STE0.3%——
HUBB0.3%——
CP0.3%——
TTWO0.3%——
MDLN0.3%——
DHR0.3%——
SHOP0.3%——
TKO0.3%——
TT0.2%——
ELV0.2%——
WPM0.2%——
SNOW0.2%——
ITW0.2%——
APD0.2%——
GS0.2%——
EG0.2%——
MNST0.2%——
CVE0.2%——
TSLA0.2%——
VMC0.2%——
CW0.2%——
EFX0.2%——
LNG0.2%——
OMC0.2%——
MPWR0.2%——
ABNB0.2%——
LYV0.2%——
RY0.2%——
CMS0.2%——
SNDK0.2%——
AXON0.2%——
AEP0.2%——
NOC0.2%——
ORLY0.2%——
SBUX0.2%——
MCO0.2%——
CRM0.2%——
RNR0.2%——
LRCX0.2%——
NTRA0.2%——
LNT0.2%——
GWW0.2%——
H0.2%——
ROST0.2%——
FERG0.2%——
CCEP0.2%——
EOG0.2%——
VLO0.2%——
VST0.2%——
ASND0.2%——
FTI0.2%——
UBER0.2%——
APTV0.1%——
ALV0.1%——
CCJ0.1%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+13.1%+14.1%0.730.78−32.2%0.97−0.5% (−0.58)
2018 onwards5 Jan 2018 to 2 Nov 2026+11.8%+13.9%0.560.66−32.2%0.96−1.5% (−1.26)
Last three years3 Nov 2023 to 2 Nov 2026+17.5%+21.8%0.991.16−14.9%0.85−1.4% (−0.57)
Last year7 Nov 2025 to 2 Nov 2026+12.2%+14.2%0.790.84−8.3%0.75+0.5% (0.10)
DateCompanyAction
7 Aug 2026ZBIOBought
7 Aug 2026YSWYBought
7 Aug 2026WOLFBought
7 Aug 2026WMBBought
7 Aug 2026WHBought
7 Aug 2026WEXBought
7 Aug 2026VSHBought
7 Aug 2026VSATBought
7 Aug 2026VIRBought
7 Aug 2026VIAVBought
7 Aug 2026UNHBought
7 Aug 2026UGPBought
7 Aug 2026UCTTBought
7 Aug 2026TVTXBought
7 Aug 2026TUBought
7 Aug 2026TRIBought
7 Aug 2026TREEBought
7 Aug 2026TARSBought
7 Aug 2026SYNABought
7 Aug 2026STTBought
7 Aug 2026SRRKBought
7 Aug 2026SRPTBought
7 Aug 2026SPCXBought
7 Aug 2026SMTCBought
7 Aug 2026SJMBought

Dated at the rebalance that made the change.

DateCompanyAction
7 Aug 2026WKCSold
7 Aug 2026VSNTSold
7 Aug 2026VFCSold
7 Aug 2026TMDXSold
7 Aug 2026TMSold
7 Aug 2026TEMSold
7 Aug 2026SUNBSold
7 Aug 2026SPXCSold
7 Aug 2026SHOSold
7 Aug 2026SHLSSold
7 Aug 2026SGHCSold
7 Aug 2026SDHCSold
7 Aug 2026SSold
7 Aug 2026RVTYSold
7 Aug 2026RITMSold
7 Aug 2026REZISold
7 Aug 2026PBRSold
7 Aug 2026ORCLSold
7 Aug 2026ORSold
7 Aug 2026OGNSold
7 Aug 2026NTSKSold
7 Aug 2026NRIXSold
7 Aug 2026NJRSold
7 Aug 2026MPCSold
7 Aug 2026MKCSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest