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Morningstar Quicktake® Report | True Believers


Apple Computer AAPL





Morningstar
Analysis Who`s
Buying Who`s
Selling Power
Brokers Wall Street
Opinions

What money managers like the stock enough to back up the truck? By looking at this list, you can see which managers, if any, like a stock enough to commit a large percentage of their fund`s assets to it.

Fund Name % of
Fund Assets % of
Shares
Held Share
Change
(000) Star Rating Date of Portfolio

Janus Special Situations 7.64 0.32 -75 5 03-31-00
Cutler Value 7.59 0.01 0 3 08-31-00
Stein Roe Large Company Focus 6.20 0.02 40 --- 06-30-00
ASAF Janus Capital Growth A 4.01 0.52 0 4 08-31-00
AIM Value A 3.26 2.46 0 4 04-30-00

Atalanta/Sosnoff 2.99 0.00 0 --- 08-31-00
Cutler Core 2.99 0.01 1 4 08-31-00
Janus Strategic Value 2.99 0.22 -1 --- 04-30-00
RS Contrarian 2.77 0.01 -15 2 03-31-00
AmSouth Growth A 2.62 0.00 0 3 03-31-00

DLB Value 2.62 0.01 0 2 08-31-00
Wells Fargo Disciplined Growth I 2.45 0.00 0 --- 08-31-00
Brandywine 2.44 0.90 724 3 06-30-00
Riggs Stock R 2.40 0.01 -8 3 03-31-00
Wells Fargo Equity Value A 2.38 0.02 22 2 08-31-00

Brandywine Blue 2.38 0.06 48 2 06-30-00
Neuberger Berman Guardian 2.32 0.45 -66 2 08-31-00
Aetna Value Opportunity A 2.30 0.00 4 --- 07-31-00
SSgA Aggressive Equity 2.24 0.00 -1 --- 06-30-00
Golden Oak Growth Instl 2.22 0.01 26 5 06-30-00


Show Data Definitions

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Sector Weightings
% of Stocks Rel to S&P 500
Utilities 0.0 ---
Energy 0.0 ---
Financials 1.7 0.1
Industrials 3.8 0.3
Durables 0.3 0.2
Staples 1.4 0.3
Services 19.4 1.7
Retail 2.7 0.5
Health 4.3 0.4
Technology 66.5 2.3

Data through 03-31-00


Top 25 Holdings Get Price Quotes

Total number of stock holdings 71 Turnover % 91
Total number of bond holdings 10 Yield % 0.02
% Assets in top 10 holdings 29.66



Top 25 Holdings
Name of Holding Sector P/E YTD Return % % Net Assets

Nokia Cl A ADR Technology 50.67 -38.21 5.58
Veritas Software Technology --- 27.47 4.67
Cisco Sys Technology 134.63 -7.00 3.80
JDS Uniphase Technology --- 7.01 3.50
Sun Microsystems Technology 89.04 26.47 3.14



VeriSign Technology --- -22.75 2.10
Network Solutions Cl A Technology --- --- 1.97
Applied Matls Technology 22.73 -24.12 1.79
Vodafone Airtouch Services --- --- 1.59
Vodafone Airtouch ADR Services 118.08 -30.92 1.52



Xilinx Technology 33.00 46.25 1.48
EchoStar Comms Cl A Industrial --- -25.38 1.47
Juniper Net Technology --- 252.22 1.47
Texas Instruments Technology 26.55 -18.03 1.34
Time Warner Services 145.96 5.13 1.34



PE Corp - PE Biosystems Grp Industrial 103.34 47.98 1.30
Brocade Comm Sys Technology 610.67 158.76 1.24
Nextel Comms Cl A Services --- -30.91 1.24
Priceline.com Services --- -89.05 1.17
3Com Technology 13.25 85.36 1.12



Genentech Health --- 0.74 1.10
Federal Home Loan Bk FRN --- --- --- 1.08
Art Tech Grp Technology --- 4.73 1.07
Colgate-Palmolive Staples 30.69 -24.31 1.07
Grupo Televisa (Part) ADR Services 89.53 -33.88 1.07


Indicates an increase or decrease in holding since last portfolio
Indicates a new holding since last portfolio


JANUS OLYMPUS JOALX

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Sector Weightings
% of Stocks Rel to S&P 500
Utilities 0.0 ---
Energy 6.0 0.9
Financials 4.3 0.3
Industrials 1.6 0.1
Durables 0.7 0.5
Staples 0.0 ---
Services 33.2 2.9
Retail 4.5 0.9
Health 3.0 0.3
Technology 46.7 1.6

Data through 03-31-00


Top 25 Holdings Get Price Quotes

Total number of stock holdings 72 Turnover % 89
Total number of bond holdings 10 Yield % 0.00
% Assets in top 10 holdings 36.58



Top 25 Holdings
Name of Holding Sector P/E YTD Return % % Net Assets

Nokia Cl A ADR Technology 50.67 -38.21 9.19
Enron Energy 57.05 80.94 5.05
AT & T Liberty Media Cl A Services --- -43.45 4.42
Time Warner Services 145.96 5.13 4.03
Amazon.com Retail --- -67.00 2.77



I2 Tech Technology --- 65.06 2.44
Cisco Sys Technology 134.63 -7.00 2.25
Vodafone Airtouch Services --- --- 2.25
QUALCOMM Technology 73.99 -63.45 2.22
Medtronic Health 57.26 46.70 1.96



EMC/Mass Technology 150.44 56.98 1.88
LM Ericsson Tele B ADR Technology 72.86 -16.80 1.75
Electronic Arts Technology 87.50 11.46 1.66
Level 3 Comms Services --- -32.98 1.64
Texas Instruments Technology 26.55 -18.03 1.46



Applied Matls Technology 22.73 -24.12 1.45
Sprint (PCS Group) Services --- -35.85 1.44
Comcast Special Cl A Services 234.19 -21.26 1.43
Telefonos de Mex L ADR Services 18.42 -14.53 1.39
Software.com Technology --- 30.01 1.38



PE Corp - PE Biosystems Grp Industrial 103.34 47.98 1.35
Exodus Comms Technology --- -24.56 1.24
Phone.com Technology --- -32.18 1.21
Fifth Third Bancorp Financial 28.56 1.58 1.07
Home Depot Retail 31.36 -48.79 1.05


InJANUS MERCURY JAMRX

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Sector Weightings
% of Stocks Rel to S&P 500
Utilities 0.1 0.0
Energy 0.0 ---
Financials 0.8 0.1
Industrials 0.0 ---
Durables 0.0 ---
Staples 0.0 ---
Services 41.6 3.6
Retail 0.0 ---
Health 15.0 1.3
Technology 42.6 1.4

Data through 03-31-00


Top 25 Holdings Get Price Quotes

Total number of stock holdings 84 Turnover % 98
Total number of bond holdings 6 Yield % 0.00
% Assets in top 10 holdings 31.22



Top 25 Holdings
Name of Holding Sector P/E YTD Return % % Net Assets

Metromedia Fiber Net Cl A Technology --- -29.08 5.28
Paychex Services 86.96 82.59 4.06
AmFm Services --- --- 3.39
McLeodUSA Cl A Services --- -23.57 3.22
Inktomi Technology --- -15.35 3.05



AT & T Canada Cl B Dep Rec Services --- -26.09 2.61
Vitesse Semicon Technology 262.27 35.04 2.59
Network Solutions Cl A Technology --- --- 2.42
PSINet Technology --- -79.76 2.34
SDL Technology --- 154.59 2.26



Sepracor Health --- 127.73 2.07
Applied Micro Circuits Technology 431.58 157.76 2.01
Exodus Comms Technology --- -24.56 2.00
Xilinx Technology 33.00 46.25 2.00
Voicestream Wireless Services --- -26.09 1.63



Western Wireless Cl A Services 306.88 -54.03 1.61
American Tower Cl A Services --- 13.91 1.60
Hispanic Brdcstg Cl A Services 54.64 -58.52 1.56
MedImmune Health 142.81 1.51 1.52
Checkfree Hldgs Technology --- -66.99 1.50



NTL Services --- -60.42 1.47
PE Corp - Celera Genomics Gr Health --- -15.10 1.46
TMP Worldwide Services --- -18.66 1.45
Crown Castle Intl Services --- -23.93 1.37
VeriSign Technology --- -22.75 1.34


InJANUS ENTERPRISE JAENX

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Top 25 Holdings Get Price Quotes

Total number of stock holdings 68 Turnover % 105
Total number of bond holdings 0 Yield % 5.75
% Assets in top 10 holdings 38.07



Top 25 Holdings
Name of Holding Sector P/E YTD Return % % Net Assets

SDL Technology --- 154.59 5.10
Paychex Services 86.96 82.59 4.99
AmFm Services --- --- 4.85
VeriSign Technology --- -22.75 4.49
Metromedia Fiber Net Cl A Technology --- -29.08 4.33



Exodus Comms Technology --- -24.56 3.50
Sepracor Health --- 127.73 2.97
Crown Castle Intl Services --- -23.93 2.66
Inktomi Technology --- -15.35 2.60
Millennium Pharmaceuticals Health --- 106.97 2.58



Vitesse Semicon Technology 262.27 35.04 2.55
McLeodUSA Cl A Services --- -23.57 2.47
American Tower Cl A Services --- 13.91 2.14
Abgenix Health --- 108.30 2.05
Western Wireless Cl A Services 306.88 -54.03 2.01



Voicestream Wireless Services --- -26.09 2.00
TMP Worldwide Services --- -18.66 1.94
Xilinx Technology 33.00 46.25 1.89
PSINet Technology --- -79.76 1.86
Brocade Comm Sys Technology 610.67 158.76 1.68



Applied Micro Circuits Technology 431.58 157.76 1.65
Priceline.com Services --- -89.05 1.59
Medarex Health --- 138.84 1.49
AT & T Canada Cl B Dep Rec Services --- -26.09 1.46
Human Genome Sciences Health --- 106.71 1.45


IJANUS ASPEN JAAGX

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Sector Weightings
% of Stocks Rel to S&P 500
Utilities 0.9 0.4
Energy 1.4 0.2
Financials 1.8 0.1
Industrials 2.8 0.3
Durables 0.9 0.6
Staples 0.0 ---
Services 26.9 2.3
Retail 3.1 0.6
Health 14.3 1.3
Technology 48.0 1.6

Data through 09-30-00


Top 25 Holdings Get Price Quotes

Total number of stock holdings 120 Turnover % 74
Total number of bond holdings 0 Yield % 0.00
% Assets in top 10 holdings 29.50



Top 25 Holdings
Name of Holding Sector P/E YTD Return % % Net Assets

SDL Technology --- 154.59 6.21
Enzon Health --- 30.26 4.25
PurchasePro.com Services --- -57.68 3.95
Globix Technology --- -43.75 2.66
Abgenix Health --- 108.30 2.54



Insight Enterprises Retail 19.20 -22.92 2.04
Commerce One Technology --- -44.53 2.03
Informatica Technology --- 37.95 2.02
TMP Worldwide Services --- -18.66 1.93
Alpha Inds Technology 35.36 -13.63 1.87



Mervell Tech --- --- --- 1.73
Natural Microsystems Technology --- 87.71 1.69
VerticalNet Services --- -74.01 1.54
Apria Healthcare Grp Health 4.64 -4.88 1.53
Investors Finl Svcs Financial 61.93 135.96 1.48



Navisite Technology --- -79.25 1.43
Cal Dive Intl Energy 49.85 82.08 1.35
IntraNet Solutions Technology 300.89 13.85 1.33
NDS Grp ADR Technology 835.37 124.59 1.33
Tripath Tech Technology --- --- 1.31



New Focus Technology --- --- 1.16
SBA Comm Services --- 70.00 1.14
Clear Channel Comms Services --- -47.27 1.13
NetIQ Technology --- 33.97 1.11
Capstone Turbine Industrial --- --- 1.09


JANUS SMALL CAP JSCAX

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weshalb die obigen post über den janus-fund

zur ansicht, dass alle macht des geldes nichts nützt,
auch wenn man vertikal und horzontal durch alle funds
wenige aktien platziert, man liegt halt wenns schief geht
phenomenal in den miesen.
mal sehen wie die das in ordnung bringen, nun scheinen sie ja in teuren biotechwerte eingestiegen zu sein, hier wird wohl ein
fehler nach dem anderen produziert, die scheinen völlig von der rolle
zu sein. ja auch der fund war mal ein ganz grosser hype, mit
heutigem katzenjammer an den ami-bords. ihre unsicherheit löst
wohl einen dominoeffect aus.
die funds wurden übrigens geschlossen, d.h. keine neueinsteiger
sind mehr erwünscht, man macht wohl neue funds auf, aber
wahrscheinlich kauft man so oder so das gleiche was in den alten fonds schon ist, vielleicht sind aber die anleger clever und gehen
aus den alten fonds raus, denn die neuen können jetzt ja beträchtlich billiger einkaufen.

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Funds Riding High on the Biotech Bonanza
by Frank W. Stanton | 02:05 PM | 11-09-00 | E-mail Article to a Friend

It`s hard not to be envious of the lucky devils who invested in a specialty health-care fund last year. Not only has the average health-care fund returned a handsome 62% this year, but of this year`s six triple-digit performing funds, five specialize in health-care stocks.

Five Best-Performing Health-Care Funds

% of
Assets
YTD
Return
( % ) 1999
Return
( % )
Evergreen Heath Care A EHABX 23.57 123.77 N/A

Nicholas-Applegate Global Health I NAGHX 21.75 118.88 N/A

Munder Framlington Healthcare Y MFHYX 28.51 114.15 39.13

Dresdner RCM Biotechnology DGHCX 48.90 108.84 111.40

Orbitex Health & Biotechnology A ORHAX 42.33 104.44 N/A

Data through 11-07-00.


But before you rush to buy a red-hot health-care fund, you need to realize you could end up skating on very rough ice. That`s because most of this year`s best performing health-care funds are loaded to the hilt with volatile biotechnology stocks. On average, the five worst-performing health-care funds (listed below) had roughly 18% of their assets stashed in biotech stocks, while the five best-performing health-care funds (listed above) had a third of their assets invested there.

Five Worst-Performing Health-Care Funds

% of
Assets
YTD
Return
( % ) 1999
Return
( % )
Marketocracy Medical Specialists MSFQX 26.18 17.50 52.18

Rydex Health Care Inv RYHIX 8.67 24.68 -13.06

Icon Healthcare ICHCX 10.67 29.84 3.80

Invesco Health Services Inv FHLSX 33.73 32.74 0.59

Alliance Health Care A AHLAX 13.30 33.62 N/A

Data through 11-07-00.


Take the Munder Framlington Healthcare Fund MFHYX, for example. With a mesmerizing 114% return this year, it`s the third best performing health-care fund, and the fourth best performing mutual fund this year overall. But with more than a quarter of its assets stashed in volatile biotech stocks, the fund could take a serious tumble if that sector cools dramatically. In fact, the fund did fall this spring after the biotech sector got blindsided by comments from U.S. President Bill Clinton and British Prime Minister Tony Blair that lead some to believe the governments were not going to allow the industry to patent human genes. Between March and May of this year, the fund lost more than 17%.

So what`s the source of such dramatic volatility? By and large, it has to do with valuations. In some respects, today`s hottest biotech stocks resemble last year`s market darling du jour, e-commerce stocks. While many e-commerce companies weren`t projected to produce any profits in the near term, wildly optimistic business scenarios helped drive those stocks into the stratosphere, only to crash and burn this year. Interest has shifted away from the Internet towards biotech firms, where optimism in new miracle cures and genetic engineering are driving those stocks to nosebleed valuation levels.

"There`s lots of froth in the biotech industry," says Morningstar.com stock analyst Emily Hall. Even the companies that Hall thinks have a bright future before them, such as Millenium Pharmaceuticals MLNM, are extremely risky due to their high prices. Hall notes that although Millenium has strategic agreements in place with more established pharmaceuticals such as Bayer AG BAYZY, the stock trades at 80 times its sales (the average biotech stocks trades at a third of that), and so carries considerable downside risk.

However, while many Internet concerns based their futures on completely untested business models, that isn`t the case with most biotech companies, Hall says. Still, biotech business models are by no means failsafe, since the process of discovering the next miracle cure or gaining of drug approval from the Federal Drug Administration is fraught with uncertainties. Consequently, Hall recommends individuals invest no more than 5% of their portfolio in biotech.

For investors who decide they have enough room in their portfolio for more biotech stocks, Hall has written a guide to buying biotech funds. For those who can`t stomach extreme volatility, but still want some more exposure to the health-care sector, Morningstar.com analyst Valerie Putchaven recommends funds such as Fidelity Select Health Care FSPHX which sports not only a fine track record, and employs strong managers, but also maintains a well-diversified portfolio. Indeed, the fund has just 7% of its assets invested in biotech.


E-mail Article to a Friend
Frank W. Stanton is an analyst with Morningstar.com. While he would like to hear from you, keep in mind that he cannot provide specific portfolio advice. He can be reached at [e-mail].