The fund is light on energy stocks - about 3 percent of the portfolio - which were among the best-performing stocks last year.

Q. What is the best-performing stock in your portfolio at the moment?

For the year so far, Dell Computer is the best-performing stock among this group, up more than 207 percent.

Pharmaceuticals, which have been among the best-performing stocks this year, had another winning day.

On the final day of the first quarter, some investment managers are believed to have bought more of their best-performing stocks as "window dressing."

Among the best-performing stock groups last year were tobacco, foods, specialty retailers, banking and textiles.

The best-performing stocks leaped not by hundreds, but by thousands of percentage points.

The best-performing stocks will probably be those companies whose fortunes are closely tied to overall economic growth, he said.

It now has some of the best operating margins in the industry worldwide and is also the best-performing stock among large carmakers.

Occasionally, the biggest laggard turns into the best-performing stock the next year.