I Own What?! Who Still Loves Tech, and Who Doesn't

In the wake of the tech sector's collapse, you might be surprised by which funds still are betting on these mercurial stocks and which ones are taking a pass.

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Fund companies don't typically rush to let the world -- or fund shareholders -- know what's in their portfolios. And let's face it, few of us cared how much of their money was riding the tech tiger as long as we didn't get scratched. But that laissez-faire attitude is fading now that a former must-own like Cisco (CSCO Quote) is down 77% over the past year. Consider that the average tech fund and computer-chip dynamo Intel (INTC Quote) are both worth 64% less than they were a year ago.

You might assume that funds have fled the sector, but that's not necessarily the case. Each Monday our I Own What?! feature snoops through funds' portfolios and highlights some whose name or classification might mislead you about where they invest your money. The bottom line is always that you need to take a hard look at a fund's portfolio -- online or in its most recent shareholder report -- before you buy shares based on its name and performance.

In recent weeks we've zeroed in on funds whose tech exposure might surprise you either because it's high or low. Nothing proves the value of doing your homework more than these fund screens:

• Some Value Funds Love, Um, Tech: If you assume your bargain-hunting value-fund manager is steering clear of pricey tech shares, you might be in for a surprise.

• Tech Funds Sporting Diversified Growth Duds: Funds in "diversified" categories can stuff more than 75% of their money in the tech sector; we've found some that do.

• Some Tech Funds Don't Own Much Tech: Here's a gaggle of tech funds that have most of their money invested elsewhere.

• Some Financial Funds Can't Buy Enough Cisco: Even financial sector funds can get tech fever -- and we've found a pair of the afflicted, though the (TITNX Quote)Titan Financial Services fund has since lost its tech appetite.