Despite a choppy year so far for the stock market, two big large-cap fund managers are still betting on U.S. equities.
Eric Schoenstein, co-portfolio manager of the Morningstar 5-star rated Jensen Quality Growth Fund, tells CNBC's "Power Lunch" on Wednesday he favors domestic names.
"We maintain a constructive view on U.S. equities in 2016 due to (1) steady economic growth in global developed economies, (2) easier year-over-year earnings comparisons (3) expectations of a moderate pace on hawkish moves from the U.S. Federal Reserve," Schoenstein said.
One of his top picks is diversified global healthcare company Becton Dickinson. "We believe that Becton benefits from a distinct scale advantage in its core needles and syringes business," Schoenstein said.
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John Augustine, chief investment officer of The Huntington Trust, is also sticking with homegrown companies.
"We will evaluate international vs. domestic in the spring/summer. For now, [we] favor domestic," Augustine said.
Some of Augustine's favorite stocks now are Raytheon, Northrop Grumman, Marriott International and AT&T.
Becton Dickinson, Raytheon, Northrop Grumman, Marriott International and AT&T are higher during trading.