Saturday Screen: Funds That Buy IPOs

Maybe the only thing harder than getting your hands on hot IPOs at their offering price is figuring out which mutual funds invest in them.

Online screening tools are more likely to turn up a fund manager's height than his or her taste for IPOs, because funds closely guard their portfolio information. This week's Saturday Screen humbly tries to end the mystery -- or at least shed some light on the murky subject -- for mutual fund investors who want a piece of the IPO pie.

Our pals at Morningstar sorted all stock funds, looking for those with the highest percentage of assets invested in companies that went public in the last 12 months. As you might imagine, small-cap and tech funds are at the top of the resulting list. ...