An insurance company in the middle of a credit crisis and a uniform rental company at a time of slowing job growth may sound like foolish stock picks to some.
But not to Ted Kellner, the Fiduciary Management portfolio manager whose five-star FMI Large Cap Fund is up an average of 16.4 percent per year over the last five years.
"We like buying companies that are out of favor," he told CNBC. "That's exactly what we like to do, buy into companies when there are some concerns."
- Video: Watch the entire interview (2 mins, 33 secs)
Kellner's top pick is insurance company Arthur Gallagher.
"We think Gallagher is well positioned to do well in the next several years," he said. "Defensive company; cycle's not working in our favor, but we think it will in the next year or two and we think this company's going to give us a great return."
Uniform-rental company Cintas also makes Kellner's list, even though the experts -- including Federal Reserve Chairman Ben Bernanke -- say hiring is slowing.
"This is the number one company in the industry," he said. "Terrific valuation, high recurring-revenue stream...a great company in the long term."