Massachusetts Financial Services Co.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Massachusetts Financial Services Co. reported 940 stock positions worth $297.2 billion. Its top holding was Nvidia (NVDA) at 3.9% of the portfolio, followed by Microsoft (MSFT, 3.6%) and Apple (AAPL, 2.6%). Compared with Q4 2025, it opened 87 new positions, sold out of 56, added to 284 and reduced 565. The biggest buy was Honeywell International (HON, shares +27%) and the biggest sale Totalenergies (TTE, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0000912938
- Portfolio Value
- $297.2B (Q1 2026)
- SEC Filing
- 0000912938-26-000604 ↗ filed May 14, 2026
Holdings Value
Holdings 940 stocks · $297.2B
| NVDA Nvidia Corp. | 3.89% | 65,275,558 | $11.6B | Reduce -2.8% |
| MSFT Microsoft Corp. | 3.59% | 25,473,981 | $10.7B | Reduce -5.9% |
| AAPL Apple Inc. | 2.64% | 30,317,142 | $7.8B | Add +12.7% |
| GOOGL Alphabet Inc. Class A | 2.34% | 23,413,232 | $7.0B | Reduce -7.0% |
| AMZN Amazon.com Inc. | 2.21% | 25,952,500 | $6.6B | Reduce -8.6% |
| JPM JPMorgan Chase & Co. | 1.46% | 14,662,099 | $4.3B | Reduce -5.5% |
| AVGO Broadcom Inc. | 1.15% | 8,980,922 | $3.4B | Add +11.3% |
| TSM Taiwan Semiconductor-SP ADR | 1.15% | 9,677,855 | $3.4B | Reduce -4.6% |
| JNJ Johnson & Johnson | 1.12% | 13,434,302 | $3.3B | Reduce -18.0% |
| CI The Cigna Group | 1.05% | 11,595,182 | $3.1B | Reduce -1.8% |
| XOM Exxon Mobil Corp. | 1.03% | 17,922,157 | $3.0B | Reduce -6.9% |
| LIN Linde PLC | 1.02% | 4,757,686 | $3.0B | Reduce -7.0% |
| MA Mastercard Inc. Class A | 0.95% | 5,521,696 | $2.8B | Reduce -6.0% |
| FNV Franco-Nevada Corp. | 0.95% | 11,093,148 | $2.8B | Reduce -5.1% |
| RTX RTX Corp. | 0.93% | 14,147,863 | $2.8B | Reduce -0.1% |
| AON Aon PLC Class A | 0.93% | 8,358,097 | $2.8B | Reduce -2.2% |
| COP Conocophillips | 0.91% | 20,267,161 | $2.7B | Reduce -9.3% |
| MDT Medtronic PLC | 0.89% | 21,437,599 | $2.7B | Add +2.3% |
| UBS UBS Group AG-Reg | 0.88% | 65,542,061 | $2.6B | Reduce -4.5% |
| WTW Willis Towers Watson PLC | 0.87% | 5,867,533 | $2.6B | Reduce -1.8% |
| META Meta Platforms Inc. Class A | 0.87% | 4,407,235 | $2.6B | Reduce -8.6% |
| MCK McKesson Corp. | 0.85% | 2,900,233 | $2.5B | Reduce -15.8% |
| ACN Accenture PLC Class A | 0.85% | 9,828,861 | $2.5B | Reduce -8.1% |
| HON Honeywell International Inc. | 0.85% | 8,707,049 | $2.5B | Add +27.2% |
| AEM Agnico Eagle Mines Ltd. | 0.84% | 11,867,001 | $2.5B | Add +1.7% |
| NDAQ Nasdaq Inc. | 0.83% | 29,060,439 | $2.5B | Add +5.2% |
| KLAC KLA Corp. | 0.82% | 1,641,635 | $2.4B | Reduce -5.7% |
| PGR Progressive Corp. | 0.81% | 12,099,655 | $2.4B | Reduce -5.3% |
| V Visa Inc. Class A | 0.78% | 4,165,473 | $2.3B | Reduce -8.2% |
| SCHW Schwab (charles) Corp. | 0.76% | 14,521,887 | $2.3B | Reduce -5.5% |
| TMO Thermo Fisher Scientific Inc. | 0.76% | 3,013,109 | $2.3B | Reduce -2.4% |
| BDX Becton Dickinson and Co. | 0.75% | 9,101,454 | $2.2B | Reduce -4.1% |
| CB Chubb Ltd. | 0.72% | 6,514,984 | $2.1B | Reduce -5.4% |
| WAT Waters Corp. | 0.69% | 4,630,118 | $2.1B | Add +76.4% |
| ADI Analog Devices Inc. | 0.67% | 6,216,638 | $2.0B | Reduce -21.3% |
| GD General Dynamics Corp. | 0.67% | 5,702,629 | $2.0B | Reduce -9.0% |
| MS Morgan Stanley | 0.65% | 11,749,856 | $1.9B | Reduce -5.7% |
| PCG P G & E Corp. | 0.65% | 109,393,836 | $1.9B | Reduce -5.4% |
| DUK Duke Energy Corp. | 0.64% | 14,391,296 | $1.9B | Reduce -10.3% |
| PLD Prologis Inc. | 0.63% | 14,063,332 | $1.9B | Reduce -6.2% |
| APH Amphenol Corp. Class A | 0.62% | 13,964,627 | $1.8B | Reduce -12.2% |
| HWM Howmet Aerospace Inc. | 0.60% | 7,624,700 | $1.8B | Reduce -22.3% |
| UNP Union Pacific Corp. | 0.59% | 7,029,932 | $1.7B | Reduce -7.6% |
| BA The Boeing Co. | 0.58% | 8,733,419 | $1.7B | Reduce -9.7% |
| ETN Eaton Corp. PLC | 0.58% | 4,688,364 | $1.7B | Reduce -14.8% |
| D Dominion Energy Inc. | 0.55% | 26,621,442 | $1.6B | Reduce -4.8% |
| PFE Pfizer Inc. | 0.54% | 56,911,830 | $1.6B | Add +1.9% |
| ABT Abbott Laboratories | 0.54% | 15,499,870 | $1.6B | Add +6.8% |
| TRU Transunion | 0.54% | 13,146,925 | $1.6B | Reduce -15.4% |
| PNC PNC Financial Services Group | 0.53% | 7,528,295 | $1.6B | Reduce -11.8% |
| AXP American Express Co. | 0.53% | 5,067,655 | $1.6B | Reduce -12.7% |
| C Citigroup Inc. | 0.51% | 13,354,702 | $1.5B | Reduce -12.2% |
| SO The Southern Co. | 0.51% | 15,595,800 | $1.5B | Reduce -4.3% |
| NXPI NXP Semiconductors NV | 0.51% | 7,574,965 | $1.5B | Reduce -3.5% |
| CVX Chevron Corp. | 0.50% | 7,109,419 | $1.5B | Reduce -6.1% |
| A Agilent Technologies Inc. | 0.49% | 12,624,090 | $1.5B | Reduce -10.8% |
| CRH CRH PLC | 0.49% | 13,507,797 | $1.5B | Add +8.6% |
| XEL Xcel Energy Inc. | 0.49% | 18,078,640 | $1.4B | Reduce -3.9% |
| TD Toronto-Dominion Bank | 0.49% | 14,219,093 | $1.4B | Reduce -6.5% |
| PM Philip Morris International | 0.49% | 8,631,772 | $1.4B | Reduce -7.2% |
| GEV GE Vernova Inc. | 0.49% | 1,629,084 | $1.4B | Add +0.8% |
| TRV The Travelers Cos Inc. | 0.48% | 4,903,665 | $1.4B | Reduce -5.5% |
| MRSH Marsh & McLennan Cos | 0.48% | 8,200,309 | $1.4B | Reduce -5.3% |
| LOW Lowe's Cos Inc. | 0.48% | 6,022,364 | $1.4B | Reduce -5.5% |
| RYAAY Ryanair Holdings PLC-SP ADR | 0.48% | 24,120,294 | $1.4B | Reduce -10.4% |
| MAR Marriott International Class A | 0.47% | 4,266,493 | $1.4B | Reduce -9.8% |
| KKR KKR & Co. Inc. | 0.45% | 14,350,033 | $1.3B | Reduce -23.1% |
| ABBV Abbvie Inc. | 0.41% | 5,610,330 | $1.2B | Reduce -14.5% |
| NEE Nextera Energy Inc. | 0.41% | 13,192,071 | $1.2B | Add +103.1% |
| WFC Wells Fargo & Co. | 0.41% | 15,105,182 | $1.2B | Reduce -12.1% |
| PCAR Paccar Inc. | 0.40% | 10,316,053 | $1.2B | Reduce -6.2% |
| CHKP Check Point Software Tech | 0.40% | 7,942,280 | $1.2B | Add +0.1% |
| LPLA LPL Financial Holdings Inc. | 0.39% | 3,869,359 | $1.2B | Add +4.0% |
| PEP Pepsico Inc. | 0.39% | 7,276,739 | $1.1B | Reduce -5.5% |
| CAT Caterpillar Inc. | 0.38% | 1,583,565 | $1.1B | Reduce -13.8% |
| RBA RB Global Inc. | 0.37% | 11,240,652 | $1.1B | Add +3.2% |
| HLT Hilton Worldwide Holdings Inc. | 0.36% | 3,450,856 | $1.1B | Reduce -13.0% |
| BLK BlackRock Inc. | 0.36% | 1,095,157 | $1.1B | Reduce -6.2% |
| CNI Canadian Natl Railway Co. | 0.35% | 3,750,670 | $1.1B | Reduce -64.6% |
| NOC Northrop Grumman Corp. | 0.35% | 1,519,496 | $1.0B | Reduce -13.8% |
| TXN Texas Instruments Inc. | 0.35% | 5,320,294 | $1.0B | Reduce -16.1% |
| SPOT Spotify Technology SA | 0.34% | 2,059,978 | $1.0B | Reduce -4.3% |
| STX Seagate Technology Holdings | 0.34% | 2,536,122 | $1.0B | Add +26.3% |
| BAP Credicorp Ltd. | 0.32% | 2,787,217 | $952.5M | Reduce -2.8% |
| STE Steris PLC | 0.32% | 4,010,349 | $936.6M | Reduce -4.9% |
| CRM Salesforce Inc. | 0.31% | 4,882,551 | $933.0M | Add +71.7% |
| ANET Arista Networks Inc. | 0.31% | 7,227,921 | $926.9M | Add +34.1% |
| GILD Gilead Sciences Inc. | 0.31% | 6,281,609 | $909.7M | Add +48.7% |
| GE General Electric filed as GE AEROSPACE | 0.30% | 3,128,414 | $901.9M | Reduce -8.9% |
| LNG Cheniere Energy Inc. | 0.29% | 3,047,277 | $873.2M | Reduce -21.2% |
| KVUE Kenvue Inc. | 0.29% | 49,743,984 | $866.1M | Reduce -27.4% |
| TTWO Take-Two Interactive Softwre | 0.29% | 4,351,426 | $864.7M | Reduce -6.3% |
| WPM Wheaton Precious Metals Corp. | 0.29% | 6,297,084 | $863.3M | Reduce -4.8% |
| ITW Illinois Tool Works | 0.29% | 3,310,000 | $859.6M | Reduce -5.1% |
| EFX Equifax Inc. | 0.29% | 4,699,910 | $856.4M | Add +8.2% |
| GS Goldman Sachs Group Inc. | 0.29% | 970,662 | $852.0M | Reduce -16.4% |
| CDNS Cadence Design SYS Inc. | 0.28% | 2,974,520 | $838.7M | Reduce -38.0% |
| ADSK Autodesk Inc. | 0.28% | 3,419,138 | $836.9M | Reduce -2.6% |
| NTRS Northern Trust Corp. | 0.28% | 5,805,716 | $821.1M | Reduce -2.2% |
| DHR Danaher Corp. | 0.27% | 4,165,769 | $815.2M | Reduce -3.9% |
Options reported separately and not counted above: WELLTOWER INC calls ($3.9M), ISHARES TR puts ($1.3M).
Other holdings (4): bonds, preferreds, convertibles and warrants · $7.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 4,462,000 | $4.8M | No change |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A · principal | 3,348,581 | $2.2M | New |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 · principal | 994,345 | $535K | New |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A · principal | 830,823 | $366K | New |
Total filed on the 13F, all lines: $297.2B.
Portfolio Sells Q4 2025 → Q1 2026
| TTE Totalenergies SE | Reduce -99.0% | 0.01% | −0.84 |
| MSFT Microsoft Corp. | Reduce -5.9% | 3.59% | −0.64 |
| QGEN Qiagen N.V. | Reduce -98.6% | 0.00% | −0.35 |
| KKR KKR & Co. Inc. | Reduce -23.1% | 0.45% | −0.32 |
| APTV Aptiv PLC | Reduce -91.1% | 0.02% | −0.21 |
| GOOGL Alphabet Inc. Class A | Reduce -7.0% | 2.34% | −0.21 |
| CDNS Cadence Design SYS Inc. | Reduce -38.0% | 0.28% | −0.20 |
| EXC Exelon Corp. | Reduce -92.6% | 0.02% | −0.18 |
| NFLX Netflix Inc. | Reduce -85.3% | 0.03% | −0.17 |
| AXP American Express Co. | Reduce -12.7% | 0.53% | −0.17 |
| META Meta Platforms Inc. Class A | Reduce -8.6% | 0.87% | −0.16 |
| JPM JPMorgan Chase & Co. | Reduce -5.5% | 1.46% | −0.16 |
| ARES Ares Management Corp. Class A | Reduce -32.6% | 0.14% | −0.16 |
| NVDA Nvidia Corp. | Reduce -2.8% | 3.89% | −0.15 |
| RYAAY Ryanair Holdings PLC-SP ADR | Reduce -10.4% | 0.48% | −0.15 |
| UBS UBS Group AG-Reg | Reduce -4.5% | 0.88% | −0.15 |
| VST Vistra Corp. | Reduce -39.5% | 0.20% | −0.14 |
| MRK Merck & Co. Inc. | Reduce -93.8% | 0.01% | −0.14 |
| CMCSV Comcast Corp.-Wi | Sold out | 0.00% | −0.13 |
| PGR Progressive Corp. | Reduce -5.3% | 0.81% | −0.13 |
| MA Mastercard Inc. Class A | Reduce -6.0% | 0.95% | −0.13 |
| A Agilent Technologies Inc. | Reduce -10.8% | 0.49% | −0.13 |
| GWRE Guidewire Software Inc. | Reduce -29.7% | 0.15% | −0.12 |
| DDOG Datadog Inc. Class A | Reduce -66.8% | 0.05% | −0.12 |
| HUM Humana Inc. | Reduce -0.3% | 0.26% | −0.11 |
| WFC Wells Fargo & Co. | Reduce -12.1% | 0.41% | −0.11 |
| RRX Regal Rexnord Corp. | Reduce -99.9% | 0.00% | −0.10 |
| BA The Boeing Co. | Reduce -9.7% | 0.58% | −0.09 |
| TTWO Take-Two Interactive Softwre | Reduce -6.3% | 0.29% | −0.09 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -85.3% | 0.01% | −0.09 |
| KVUE Kenvue Inc. | Reduce -27.4% | 0.29% | −0.09 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −0.09 |
| APP AppLovin Corp. Class A | Reduce -2.4% | 0.13% | −0.09 |
| INTU Intuit Inc. | Reduce -14.3% | 0.13% | −0.08 |
| APH Amphenol Corp. Class A | Reduce -12.2% | 0.62% | −0.08 |
| ACN Accenture PLC Class A | Reduce -8.1% | 0.85% | −0.08 |
| CNQ Canadian Natural Resources | Reduce -79.5% | 0.05% | −0.07 |
| ABBV Abbvie Inc. | Reduce -14.5% | 0.41% | −0.07 |
| YUMC Yum China Holdings Inc. | Reduce -95.8% | 0.01% | −0.07 |
| MS Morgan Stanley | Reduce -5.7% | 0.65% | −0.06 |
| CBRE CBRE Group Inc. Class A | Reduce -18.0% | 0.17% | −0.06 |
| SPOT Spotify Technology SA | Reduce -4.3% | 0.34% | −0.06 |
| MCK McKesson Corp. | Reduce -15.8% | 0.85% | −0.06 |
| C Citigroup Inc. | Reduce -12.2% | 0.51% | −0.06 |
| PEGA Pegasystems Inc. | Reduce -51.8% | 0.03% | −0.06 |
| EA Electronic Arts Inc. | Reduce -95.1% | 0.00% | −0.06 |
| CSGP Costar Group Inc. | Reduce -69.7% | 0.01% | −0.06 |
| HOOD Robinhood Markets Inc. Class A | Reduce -53.3% | 0.02% | −0.05 |
| ADSK Autodesk Inc. | Reduce -2.6% | 0.28% | −0.05 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −0.05 |
Portfolio Buys Q4 2025 → Q1 2026
| HON Honeywell International Inc. | Add +27.2% | 0.85% | +0.42 |
| WAT Waters Corp. | Add +76.4% | 0.69% | +0.37 |
| AAPL Apple Inc. | Add +12.7% | 2.64% | +0.28 |
| AVGO Broadcom Inc. | Add +11.3% | 1.15% | +0.25 |
| NEE Nextera Energy Inc. | Add +103.1% | 0.41% | +0.24 |
| MDT Medtronic PLC | Add +2.3% | 0.89% | +0.24 |
| AEM Agnico Eagle Mines Ltd. | Add +1.7% | 0.84% | +0.20 |
| APTV Aptiv PLC-W/I | New | 0.16% | +0.16 |
| STX Seagate Technology Holdings | Add +26.3% | 0.34% | +0.16 |
| GEV GE Vernova Inc. | Add +0.8% | 0.49% | +0.14 |
| GILD Gilead Sciences Inc. | Add +48.7% | 0.31% | +0.14 |
| AMAT Applied Materials Inc. | Add +349.4% | 0.14% | +0.12 |
| CMCSA Comcast Corp. Class A | New | 0.10% | +0.10 |
| PFE Pfizer Inc. | Add +1.9% | 0.54% | +0.10 |
| TECK Teck Resources Ltd.-CLS B | Add +381.6% | 0.11% | +0.09 |
| ANET Arista Networks Inc. | Add +34.1% | 0.31% | +0.08 |
| FERG Ferguson Enterprises Inc. | Add +110.8% | 0.15% | +0.08 |
| IR Ingersoll-Rand Inc. | Add +171.8% | 0.12% | +0.08 |
| TSN Tyson Foods Inc. Class A | New | 0.08% | +0.08 |
| ABNB Airbnb Inc. Class A | Add +124.1% | 0.13% | +0.07 |
| CRM Salesforce Inc. | Add +71.7% | 0.31% | +0.07 |
| VLO Valero Energy Corp. | Add +7.1% | 0.17% | +0.07 |
| RBC RBC Bearings Inc. | New | 0.06% | +0.06 |
| EME Emcor Group Inc. | Add +179.0% | 0.08% | +0.06 |
| EMR Emerson Electric Co. | Add +49.3% | 0.14% | +0.05 |
| CW Curtiss-Wright Corp. | Add +0.4% | 0.18% | +0.04 |
| WWD Woodward Inc. | New | 0.04% | +0.04 |
| AME Ametek Inc. | Add +47.3% | 0.10% | +0.04 |
| JAN Janus Living Inc. Class-A-1 | New | 0.04% | +0.04 |
| MTSI Macom Technology Solutions H | Add +77.1% | 0.06% | +0.04 |
| MDLN Medline Inc. Class A | Add +13.1% | 0.17% | +0.04 |
| TEX Terex Corp. | New | 0.04% | +0.04 |
| MMED Minimed Group Inc. | New | 0.03% | +0.03 |
| MOD Modine Manufacturing Co. | Add +131.7% | 0.05% | +0.03 |
| BRO Brown & Brown Inc. | New | 0.03% | +0.03 |
| BURL Burlington Stores Inc. | Add +10.4% | 0.14% | +0.03 |
| VRSK Verisk Analytics Inc. | Add +33.6% | 0.17% | +0.03 |
| HII Huntington Ingalls Industrie | New | 0.03% | +0.03 |
| VGNT Versigent PLC | New | 0.03% | +0.03 |
| TJX TJX Companies Inc. | Add +7.0% | 0.17% | +0.03 |
| UBER Uber Technologies Inc. | Add +30.7% | 0.16% | +0.03 |
| VICI Vici Properties Inc. | Add +45.5% | 0.08% | +0.03 |
| CL Colgate-Palmolive Co. | Add +5.7% | 0.14% | +0.03 |
| VMRK Vivmark Residential | New | 0.03% | +0.03 |
| RNR Renaissancere Holdings Ltd. | Add +703.2% | 0.03% | +0.03 |
| B Barrick Mining Corp. | Add +90.4% | 0.04% | +0.03 |
| KGC Kinross Gold Corp. | Add +24.7% | 0.06% | +0.03 |
| AIT Applied Industrial Tech Inc. | New | 0.03% | +0.03 |
| TT Trane Technologies PLC | Add +0.4% | 0.23% | +0.03 |
| TKO Tko Group Holdings Inc. | Add +11.2% | 0.24% | +0.03 |
Options Activity Q4 2025 → Q1 2026
| WELL Welltower Inc. | call | Sold out | 993,200 | $184.3Mbefore exit |
| EEM iShares MSCI Emerging Market | put | Sold out | 476,000 | $26.0Mbefore exit |
| EEM iShares MSCI Emerging Market | call | Sold out | 186,000 | $10.2Mbefore exit |
| WELLTOWER INC | call | New | 1,162,700 | $3.9M |
| ISHARES TR | put | New | 476,000 | $1.3M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Sold out | 3,324,380 | $229.6Mbefore exit |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | Sold out | 908,279 | $44.3Mbefore exit |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Sold out | 686,615 | $28.2Mbefore exit |
| SOUTHERN CO (SO 7.125 12/15/28 A) | UNIT 12/15/2028 | Sold out | 200,000 | $10.1Mbefore exit |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A · principal | New | 3,348,581 | $2.2M |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 · principal | New | 994,345 | $535K |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A · principal | New | 830,823 | $366K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 997 | $314.7B | NVDA, GOOGL, AAPL, AMZN, MSFT |
| Q1 2026 | 940 | $297.2B | NVDA, MSFT, AAPL, GOOGL, AMZN |
| Q4 2025 | 909 | $309.6B | MSFT, NVDA, GOOGL, AAPL, AMZN |
| Q3 2025 | 851 | $322.5B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q2 2025 | 880 | $314.8B | MSFT, NVDA, AMZN, META, AAPL |
| Q1 2025 | 876 | $300.5B | MSFT, NVDA, AMZN, AAPL, META |
| Q4 2024 | 869 | $316.4B | MSFT, NVDA, GOOGL, AMZN, AAPL |
| Q3 2024 | 844 | $334.6B | MSFT, NVDA, GOOGL, AAPL, AMZN |
| Q2 2024 | 859 | $325.2B | MSFT, NVDA, GOOGL, AMZN, AAPL |
| Q1 2024 | 837 | $334.3B | MSFT, NVDA, GOOGL, JPM, AMZN |