Tesla Motors Inc (NASDAQ: TSLA) has been one of the more popular IPOs of the past few years.

The number of U.S. mutual funds and hedge funds owning the stock has steadily risen in recent quarters. With a market capitalization of about $30 billion, the stock fits into the large-cap category. It's part of the consumer cyclical sector, so that's another fund category where the stock may appear.

Despite Tesla's market cap, it's a volatile stock, with a beta of 1.87. That means it's more volatile than the broader market. For funds with significant holdings in Tesla, that volatility may show up in changes to Net Asset Value.

Who Holds Tesla?

Harbor Capital Appreciation Fund (MUTF: HACAX) has a large-cap focus. It seeks to invest in companies with superior earnings and sales growth, improving sales momentum, growing profitability and strong balance sheets, among other factors.

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The fund, sub-advised by Jennison Associates, invests primarily in U.S. companies with a market caps of at least $1 billion at the time of purchase. The fund holds 0.97 percent of Tesla shares, totaling 1.21 percent of fund assets.

The Fidelity Advisor New Insights Fund (MUTF: FNIAX) holds 0.71 percent of Tesla shares, accounting for 0.79 percent of the fund's assets. This fund, which was established in 2003, is managed by Will Danoff, who also manages the Fidelity Contrafund.

The Fidelity Advisor New Insights Fund invests in growth and value stocks of mid- and large-cap companies in the U.S. and overseas. Financial services, technology and healthcare are the largest sectors in the fund.

Its one-year return is 12.7 percent.

The JPMorgan Large Cap Growth Select (MUTF: SEEGX) holds 0.85 percent of Tesla shares, totaling 1.72 percent of fund assets. This is not a fund that a casual investor can just drop into; the minimum investment is $1 million.

The fund seeks to invests at least 80 percent of its assets in stocks of large, well-established companies with above-average growth, or that are forecast to have superior growth in the near future.

Top sectors are healthcare, technology and consumer cyclical. The fund's one-year total return is 16.4 percent.