One sign of growth to come, he added, is a company that exhibit pricing power, like KapStone Paper and Packaging Corporation.
"This is a small cap company is that involved in corrugated cardboard, and they basically make cardboard boxes and so forth," he said. "This is an area that's dominated by a lot of large players. The industry has consolidated. They're one of the smaller players out there and they position themselves as a low cost provider, and they're able to raise prices. With that pricing power has come margin expansion and better earnings."
Another growth pocket for Marshall is energy.
The oil and gas company, Bonanza Creek, with a market cap of $2.35 billion, is seeing significant earnings and therefore Marshall sees a significant upside for the stock.
"There's a real renaissance going on in the domestic energy complex right here, and it hasn't been fully recognized. I think it's something that is really going to be a multi-year cycle that broader institutional investors really haven't fully embraced. It's really not all about $100-a-barrel oil. It's really about new supplies of oil in new parts of the world."
—By CNBC's Leanne Miller