MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Q4 2025 Filing

Filed January 22, 2026

Portfolio Value

$310.1B

Holdings

916

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (916 positions)

#	Stock	Shares	Value	% Portfolio
1	MSFTMICROSOFT CORP	27,071,322	$13.1B	4.22%
2	NVDANVIDIA CORPORATION	67,153,414	$12.5B	4.04%
3	GOOGLALPHABET INC	25,189,635	$7.9B	2.54%
4	AAPLAPPLE INC	26,896,166	$7.3B	2.36%
5	AMZNAMAZON COM INC	28,384,589	$6.6B	2.11%
6	JPMJPMORGAN CHASE & CO.	15,519,405	$5.0B	1.61%
7	JNJJOHNSON & JOHNSON	16,388,566	$3.4B	1.09%
8	MAMASTERCARD INCORPORATED	5,871,070	$3.4B	1.08%
9	CITHE CIGNA GROUP	11,805,083	$3.2B	1.05%
10	METAMETA PLATFORMS INC	4,823,902	$3.2B	1.03%
11	UBSUBS GROUP AG	68,622,440	$3.2B	1.02%
12	TSMTAIWAN SEMICONDUCTOR MFG LTD	10,147,238	$3.1B	0.99%
13	AONAON PLC	8,545,036	$3.0B	0.97%
14	PGRPROGRESSIVE CORP	12,779,665	$2.9B	0.94%
15	ACNACCENTURE PLC IRELAND	10,693,994	$2.9B	0.93%
16	MCKMCKESSON CORP	3,446,123	$2.8B	0.91%
17	AVGOBROADCOM INC	8,068,226	$2.8B	0.90%
18	NDAQNASDAQ INC	27,627,767	$2.7B	0.87%
19	TTETOTALENERGIES SE	40,380,511	$2.6B	0.85%
20	RTXRTX CORPORATION	14,162,409	$2.6B	0.84%
21	FNVFRANCO NEV CORP	11,688,537	$2.4B	0.78%
22	KKRKKR & CO INC	18,652,960	$2.4B	0.77%
23	XOMEXXON MOBIL CORP	19,255,555	$2.3B	0.75%
24	DWDMORGAN STANLEY	12,458,302	$2.2B	0.71%
25	LINLINDE PLC	5,115,711	$2.2B	0.70%
26	APHAMPHENOL CORP NEW	15,913,076	$2.2B	0.69%
27	CBCHUBB LIMITED	6,886,593	$2.1B	0.69%
28	AXPAMERICAN EXPRESS CO	5,807,459	$2.1B	0.69%
29	ADIANALOG DEVICES INC	7,894,320	$2.1B	0.69%
30	KLACKLA CORP	1,740,082	$2.1B	0.68%
31	GDGENERAL DYNAMICS CORP	6,265,295	$2.1B	0.68%
32	BABOEING CO	9,669,304	$2.1B	0.68%
33	COPCONOCOPHILLIPS	22,336,728	$2.1B	0.67%
34	MDTMEDTRONIC PLC	20,947,960	$2.0B	0.65%
35	HWMHOWMET AEROSPACE INC	9,810,474	$2.0B	0.65%
36	AEMAGNICO EAGLE MINES LTD	11,672,706	$2.0B	0.64%
37	WTWWILLIS TOWERS WATSON PLC LTD	5,977,816	$2.0B	0.63%
38	RYAAYRYANAIR HOLDINGS PLC	26,929,829	$1.9B	0.63%
39	AG8AGILENT TECHNOLOGIES INC	14,147,601	$1.9B	0.62%
40	PLDPROLOGIS INC.	14,992,070	$1.9B	0.62%
41	DUKDUKE ENERGY CORP NEW	16,044,472	$1.9B	0.61%
42	PCGPG&E CORP	115,610,105	$1.9B	0.60%
43	BDXBECTON DICKINSON & CO	9,486,694	$1.8B	0.59%
44	ABTABBOTT LABS	14,519,346	$1.8B	0.59%
45	TMOTHERMO FISHER SCIENTIFIC INC	3,087,666	$1.8B	0.58%
46	PNCPNC FINL SVCS GROUP INC	8,535,855	$1.8B	0.57%
47	TRVCCITIGROUP INC	15,204,930	$1.8B	0.57%
48	UNPUNION PAC CORP	7,605,933	$1.8B	0.57%
49	ETNEATON CORP PLC	5,503,013	$1.8B	0.57%
50	NXPINXP SEMICONDUCTORS N V	7,849,741	$1.7B	0.55%
51	DDOMINION ENERGY INC	27,956,036	$1.6B	0.53%
52	MRSHMARSH & MCLENNAN COS INC	8,662,457	$1.6B	0.52%
53	WFCWELLS FARGO CO NEW	17,174,896	$1.6B	0.52%
54	VVISA INC	4,535,199	$1.6B	0.51%
55	RHCRH PLC	12,439,954	$1.6B	0.50%
56	LOWLOWES COS INC	6,374,029	$1.5B	0.50%
57	SCHWSCHWAB CHARLES CORP	15,366,868	$1.5B	0.50%
58	TRVTRAVELERS COMPANIES INC	5,188,555	$1.5B	0.49%
59	ABBVABBVIE INC	6,564,258	$1.5B	0.48%
60	CDNSCADENCE DESIGN SYSTEM INC	4,794,286	$1.5B	0.48%
61	4I1PHILIP MORRIS INTL INC	9,301,112	$1.5B	0.48%
62	CHKPCHECK POINT SOFTWARE TECH LT	7,937,229	$1.5B	0.47%
63	MARMARRIOTT INTL INC NEW	4,732,764	$1.5B	0.47%
64	TDTORONTO DOMINION BK ONT	15,210,762	$1.4B	0.46%
65	SOSOUTHERN CO	16,300,985	$1.4B	0.46%
66	PFEPFIZER INC	55,873,002	$1.4B	0.45%
67	XELXCEL ENERGY INC	18,814,767	$1.4B	0.45%
68	HONHONEYWELL INTL INC	6,846,799	$1.3B	0.43%
69	TRUTRANSUNION	15,540,471	$1.3B	0.43%
70	LPLALPL FINL HLDGS INC	3,719,447	$1.3B	0.43%
71	BLKBLACKROCK INC	1,167,999	$1.3B	0.40%
72	SPOTSPOTIFY TECHNOLOGY S A	2,151,807	$1.2B	0.40%
73	PCARPACCAR INC	10,998,211	$1.2B	0.39%
74	TTWOTAKE-TWO INTERACTIVE SOFTWAR	4,641,579	$1.2B	0.38%
75	KVUEKENVUE INC	68,486,378	$1.2B	0.38%
76	CVXCHEVRON CORP NEW	7,567,858	$1.2B	0.37%
77	HUMHUMANA INC	4,496,775	$1.2B	0.37%
78	HLTHILTON WORLDWIDE HLDGS INC	3,967,117	$1.1B	0.37%
79	RBARB GLOBAL INC	10,892,186	$1.1B	0.36%
80	PEPPEPSICO INC	7,701,362	$1.1B	0.36%
81	TXNTEXAS INSTRS INC	6,344,486	$1.1B	0.35%
82	QGENQIAGEN NV	24,205,881	$1.1B	0.35%
83	STESTERIS PLC	4,218,307	$1.1B	0.34%
84	GEGE AEROSPACE	3,435,764	$1.1B	0.34%
85	GEVGE VERNOVA INC	1,616,649	$1.1B	0.34%
86	VSTVISTRA CORP	6,530,095	$1.1B	0.34%
87	CATCATERPILLAR INC	1,835,924	$1.1B	0.34%
88	CNRCANADIAN NATL RY CO	10,584,719	$1.0B	0.34%
89	ADSKAUTODESK INC	3,509,562	$1.0B	0.33%
90	GSGOLDMAN SACHS GROUP INC	1,160,528	$1.0B	0.33%
91	NOCNORTHROP GRUMMAN CORP	1,762,358	$1.0B	0.32%
92	WATWATERS CORP	2,624,715	$996.9M	0.32%
93	DHRDANAHER CORPORATION	4,333,056	$991.9M	0.32%
94	SHOPSHOPIFY INC	5,892,833	$948.6M	0.31%
95	EFXEQUIFAX INC	4,344,531	$942.7M	0.30%
96	ARESARES MANAGEMENT CORPORATION	5,705,599	$922.2M	0.30%
97	BSXBOSTON SCIENTIFIC CORP	9,085,528	$866.3M	0.28%
98	ITWILLINOIS TOOL WKS INC	3,488,816	$859.3M	0.28%
99	GWREGUIDEWIRE SOFTWARE INC	4,258,486	$856.0M	0.28%
100	ELVELEVANCE HEALTH INC FORMERLY	2,360,858	$827.6M	0.27%

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