Janus Stands Pat in Volatile Market

Times are tough, but it looks like Janus is pretty much standing pat.

On Wednesday, the Denver growth shop reported its firmwide stock holdings to regulators -- every fund company has to report its funds' holdings to regulators quarterly. At first blush -- simply comparing the top holdings firmwide -- the changes are modest and few since the firm's June 30 holdings. Some investors may have expected more evasive action since the firm -- whose stock funds averaged more than an 80% gain in 1999 -- are underwater so far this year.

While the holdings are dated, this report is one of the few glimpses investors get at where the big and secretive shop, the nation's fifth-largest with more than $200 billion in its retail stock and bond funds, is bullish and bearish. For shareholders of Janus' funds, it's a look at where they're money is going. For stock investors, it's a hint at where one of the biggest and most aggressive growth shops is betting the farm. ...