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Large-Cap Woes Enfeeble Janus Balanced

Manager Karen Reidy gets a bit more defensive.

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Janus Balanced (JABAX) has always been the shy one of the family, but lately it has gone further into its cocoon. 

According to information provided by Janus, the fund's cash stake stood at just more than 13% as of April 30, 2001. Manager Karen Reidy's top-10 holdings here are also a bit defensive. Energy companies such as ExxonMobil (XOM) and Burlington Resources (BR) populate the top slots, and her biggest stock holding isn't a highflying tech stock; it's Anheuser-Busch (BUD). In fact, the only remotely racy company among the fund's top-10 holdings is Automatic Data Processing (ADP), a payroll-processing company that has shown solid revenue growth even recently.

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Catherine Hickey does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.