Top 10 MFS Holdings: Largest Stocks and Portfolio Weights

The top 10 MFS holdings in the Massachusetts Investors Growth Stock Fund are led by NVIDIA, Alphabet, Broadcom and Taiwan Semiconductor Manufacturing Company. Together, its ten largest positions represent 50.59% of net assets as of August 31, 2026. This ranking helps individual investors and financial advisors assess stock concentration, sector exposure and portfolio risks.

MFS Investment Management manages multiple mutual funds with different investment objectives. The following ranking specifically covers its Massachusetts Investors Growth Stock Fund, not every investment managed by the firm.

Key Takeaways

• NVIDIA is the largest holding, representing 15.13% of the Massachusetts Investors Growth Stock Fund.

• The top 10 positions account for 50.59% of net assets, creating meaningful concentration in a relatively small group of companies.

• Information technology represents 36.22% of the fund's sector allocation, highlighting its sensitivity to technology and AI-related developments.

• MFS follows an actively managed investment strategy rather than mechanically replicating a market-capitalization-weighted index.

• Investment costs, overlapping holdings and sector concentration should be considered alongside historical performance.

Top 10 MFS Holdings

The Massachusetts Investors Growth Stock Fund invests primarily in large-cap growth-oriented equity securities. Its investment process emphasizes durable competitive advantages, valuation discipline and long-term capital appreciation.

The table uses MFS-reported market values and percentages of net assets dated August 31, 2026.

The figures come from MFS's full and historical holdings disclosure. Portfolio positions may change as the investment manager adjusts allocations.

How MFS Selects Its Portfolio Holdings

MFS uses fundamental research and portfolio construction decisions to select companies with long-term growth potential.

Its fund's investment objectives prioritize capital appreciation rather than maximizing dividend income or investing primarily in money market securities.

Research analysts assess business fundamentals, competitive positioning, earnings potential and valuation. A stock's price must be considered relative to its estimated value and future prospects.

Unlike index mutual funds or passive exchange traded funds, an actively managed growth fund can adjust individual positions based on research rather than automatically following index weights.

The fund concentrates on established businesses, although MFS manages other strategies covering mid cap, small cap, income and different asset classes.

Portfolio Concentration and Technology Exposure

Technology and AI infrastructure play an important role in the MFS portfolio.

NVIDIA, Broadcom and Taiwan Semiconductor Manufacturing provide exposure to semiconductor technology. Microsoft and Alphabet represent cloud computing, software and digital services.

Visa and Moody's add financial-sector exposure, while Waters Corporation represents healthcare.

According to MFS's August 2026 sector data, the fund's allocations include:

Although diversification spreads money across companies and sectors, holding numerous securities does not necessarily eliminate concentration risk.

For example, a 20% decline in NVIDIA's stock price would reduce the fund's value by approximately 3.03%, assuming its portfolio weight and all other positions remained unchanged.

This illustrates how a single large issuer can influence overall fund performance.

How MFS Compares With Other Major Mutual Funds

Large U.S. mutual funds often share substantial exposure to mega-cap technology companies.

Fidelity Contrafund has operated for decades, while Capital Group manages the Growth Fund of America.

Market-cap weighting can create high concentration even in funds designed to replicate broad indexes.

Some concentrated portfolios, including historically the Fairholme Fund, have placed exceptionally large allocations in individual companies such as St. Joe Company.

Owning several funds does not guarantee effective diversification when their largest holdings overlap.

Investment Expenses and Shareholder Risks

Investment expenses directly affect the net returns received by fund shareholders.

The MFS Massachusetts Investors Growth Stock Fund's Class A shares (MIGFX) report a 0.71% net expense ratio and a maximum initial sales charge of 5.75%.

Expense ratios vary across share classes and should be compared with passive index funds, which generally have lower operating costs.

For example, on $500,000 invested:

• A 0.05% annual expense ratio costs approximately $250.

• A 0.45% annual expense ratio costs approximately $2,250.

• The annual difference is $2,000 before compounding effects.

Over a long investment time horizon, differences in fees can materially reduce portfolio value.

Taxes, distributions, transaction charges and market conditions can also affect returns. Past performance does not guarantee future results.

How Gate Can Help

Investors examining MFS holdings alongside digital assets can compare traditional equity concentration with crypto market exposure.

Gate Markets provides cryptocurrency prices and market data that can support broader asset-allocation research.

However, cryptocurrency exposure introduces different risks and does not automatically improve diversification. Investors should compare volatility, liquidity and correlations before changing portfolio allocations. MFS mutual fund shares are separate financial products and should not be confused with cryptocurrencies listed on Gate.

Conclusion

The top 10 MFS holdings in the Massachusetts Investors Growth Stock Fund reflect a focused large-cap growth strategy, with NVIDIA, Alphabet and semiconductor companies occupying significant positions.

The ten largest investments account for 50.59% of net assets, making concentration and technology-sector exposure important considerations.

Investors should assess current holdings, expenses, diversification and their investment time horizon before making decisions. Because MFS actively manages its funds, reported positions may change.

FAQ

How concentrated are the top 10 MFS holdings compared with index funds?

The top 10 MFS holdings represent 50.59% of the Massachusetts Investors Growth Stock Fund. In comparison, the largest holdings in major U.S. index funds can account for approximately 30%–48% of portfolio assets. A handful of mega-cap companies also represent a substantial portion of the S&P 500.

Why do technology and AI companies dominate MFS holdings?

MFS holds NVIDIA, Broadcom, Alphabet and Microsoft, reflecting the growing importance of semiconductors, cloud computing and AI infrastructure. These positions provide growth exposure but increase sensitivity to technology-sector volatility.

How does MFS compare with Berkshire Hathaway and Fairholme Fund?

MFS maintains a diversified growth-stock portfolio compared with historically concentrated investment vehicles. Berkshire Hathaway has held a multibillion-dollar Apple position, while Fairholme Fund historically allocated more than 75% of its portfolio to St. Joe Company. Both examples highlight concentration risk.

How does MFS compare with Vanguard and Dodge & Cox?

MFS emphasizes active growth investing, while Vanguard is widely associated with low-cost index funds. Dodge & Cox Stock Fund primarily targets medium- and large-cap U.S. companies through value-oriented investing. Historical fund rankings show the dominance of passive investing, although actively managed funds remain significant.

Can higher mutual fund fees reduce long-term returns by $130,000?

Yes. A $500,000 portfolio can experience more than $130,000 in foregone ending value over several decades because of expense-ratio differences and compounding. Investors should compare MFS fund expenses with lower-cost index funds while accounting for investment performance and risk.