MFS New Discovery Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, MFS New Discovery Fund held 119 positions with $2.14B in net assets. Its ten largest holdings made up 23.9% of the fund. The MNDAX share class costs 1.21% a year. Over the 12 months to May 2026, MNDAX returned 27.4%, with dividends reinvested. In 2026 Q2 it added 28 new positions and exited 18.
The funds investment objective is to seek capital appreciation.
The fund invests primarily in equity securities of small-capitalization companies selected through fundamental analysis for above-average earnings growth potential, with MFS employing a bottom-up approach that may also use quantitative screening. The fund may invest significantly in foreign securities and concentrate a substantial portion of assets in a single industry or sector. Because the fund's returns depend on the success of individual security selections, performance will diverge from any benchmark if those selections underperform or outperform.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
MGMXXJP Morgan US Government Money Market Fund | 4.21% | $90.19M | — | — |
MFS Institutional Money Market Portfolio | 3.99% | $85.38M | 85.4M | $1.00 |
2.34% | $50.18M | 166.1K | $302.18 | |
LFUSLittelfuse Inc | 2.19% | $46.90M | 100.5K | $466.87 |
1.99% | $42.63M | 245.4K | $173.72 | |
1.93% | $41.30M | 973.3K | $42.43 | |
1.91% | $40.80M | 175.9K | $231.96 | |
1.87% | $40.10M | 78.1K | $513.51 | |
1.76% | $37.78M | 774.9K | $48.76 | |
1.67% | $35.83M | 125.7K | $285.00 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
All 119 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 100.03% |
| Cash & short-term | 4.21% |
Derivatives are shown at market value, not notional exposure.
By sector
- Health Care
- 24.4%
- Industrials
- 19.9%
- Information Technology
- 17.1%
- International
- 7.4%
- 9 other sectors
- 31.2%
- Health Care
- 24.4%
- Industrials
- 19.9%
- Information Technology
- 17.1%
- International
- 7.4%
- Consumer Discretionary
- 6.7%
- Financials
- 4.5%
- Cash
- 4.0%
- Other
- 3.8%
- Materials
- 3.8%
- Energy
- 3.7%
- Consumer Staples
- 2.3%
- Real Estate
- 1.7%
- Communication Services
- 0.7%
How it has done
MNDAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 13.58%. Past returns are a record, not a forecast.
The 9 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.21% | +27.36% | +47.20% | +2.64% | -15.76% | |
| 0.96% | +27.65% | +48.31% | +3.88% | -15.72% | |
| 1.96% | +26.43% | +43.93% | -1.16% | -15.92% | |
| 1.96% | +26.41% | +43.93% | -1.19% | -15.91% | |
| 0.96% | +27.68% | +48.28% | +3.90% | -15.73% | |
| 1.96% | +26.40% | +43.92% | -1.13% | -15.93% | |
| 1.46% | +27.05% | +46.05% | +1.32% | -15.77% | |
| 1.21% | +27.40% | +47.24% | +2.61% | -15.76% | |
| 0.85% | +27.84% | +48.89% | +4.52% | -15.67% |
These classes hold the same portfolio, so the 5.72pp spread over 5 years is the cost difference between them — roughly 1.14pp a year — not a difference in what they own.
Fees & fund details
MFS New Discovery Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.85% – 1.96%· MNDAX 1.21%
- Portfolio turnover
- 68.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
28 new· the largest 8
18 exited· the largest 8
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — MNDAX, QQQ and the fund in my 401(k)?”
- “How do this fund’s ten biggest holdings stack up against each other?”
- “For my target-date fund, what’s the real stock-and-bond mix once you look through it?”