Investors looking for opportunities in this volatile, post-Brexit market should look to U.S. small- and mid-cap stocks, Villere Balanced Fund portfolio manager George Young said Thursday.
"We buy only companies whose earnings are dependent on what's happening here," he said in an interview with CNBC's "Closing Bell."
The stocks Young focuses on are those he thinks have great long-term potential.
"The earnings are looking pretty healthy … and remember, those have been undervalued for some time."
U.S. stocks closed higher Thursday, in a third-straight day of recovery after the post-Brexit sell-off. Young noted that despite the steep drops in the days following the U.K.'s vote to leave the European Union, the market actually hasn't lost that much ground. Plus, the low interest rate environment makes equities more attractive, he said.
Young specifically likes semiconductor manufacturer Skyworks, which sells at 10 times its 2017 earnings and is a play on the internet of things. The company makes the "guts" for smartphones.
"Think of picks and shovels during gold rush, that sort of thing … that's where you can make your money," he said.
He also likes Financial Engines as a play on the retirement system. The company is the "perfect middle man" to advise employees on their retirement plans since employers are prohibited from doing so, Young said.
— CNBC's Melody Myers contributed to this report.
Disclosures: Villere Balanced Fund owns SWKS, FNGN.