Among the best long-term performers in the all-cap growth category, the $13.8 billion Calamos Growth Fund (CGRIX) invests in companies of any size that have growth rates higher than their industry’s average. Though the portfolio has a good number of holdings (177 as of year-end 2004), a whopping 61.7% of its assets are invested in either the information technology or consumer discretionary sectors.
The fund’s managers, Nick P. Calamos and John Calamos, have big bets in some prominent Internet stocks, including Amazon.com (AMZN), eBay (EBAY), and Yahoo! (YHOO), all of which rank among the fund’s top 10 positions.
However, Calamos Growth is truly all cap; 57% of its assets are parked in the small-cap range (companies with $1 billion to $12 billion in market capitalization), 22% in mid- to large-cap ($12 billion to $25 billion in market cap) and 22% in mega-cap (more than $25 billion). The portfolio also boasts a relatively modest 53.7% annual turnover ratio (versus 110% for the peer group), and lower volatility than its peers.