1.   Both stocks surged on heavy volume last Tuesday, when the holdings were disclosed.

2.   But because mutual funds must disclose their holdings only twice a year, the information that Morningstar and Advisor rely on may be outdated.

3.   Davis disclosed his holdings in a filing with the Securities and Exchange Commission last week.

4.   Each staffer will be required to disclose financial holdings and subjected to intense background checks, he said.

5.   Failure to disclose such holdings is a felony punishable by up to five years in prison.

6.   He cited columnist Frank Barnako, a longtime investor in Amazon.com and America Online, who writes regularly about Internet stocks and whose column discloses his holdings.

7.   It is difficult to tell, because funds are required to disclose their holdings only when they file their annual or semiannual reports.

8.   Morgan, however, never disclosed its holdings of the warrants in filings with Canadian securities regulators.

9.   Mutual funds are required to disclose their holdings to shareholders twice a year.

10.   The committee also discussed the need for banks to disclose their holdings, Tietmeyer said.