Nominees for 2017 Domestic-Stock Fund Manager of the Year

Today, Morningstar reveals the nominees for its 2017 Domestic-Stock Fund Manager of the Year award. Columns on the nominees for the other asset classes will follow next week, and the winners will be announced on Jan. 24, 2018.

In a low-volatility U.S. equity market that seemed to churn ever upward, it was hard not to make money in 2017. But this year's nominees distinguished themselves with strong stock-picking, with some taking advantage of favorable tailwinds for large caps and tech firms and others finding hidden gems.

Their 2017 results are only part of what makes these managers special, however. The Morningstar Fund Manager of the Year awards have always strived to recognize both recent and long-term achievements. To qualify, managers' funds must have Morningstar Analyst Ratings of Gold or Silver.

They must also have impressive absolute, relative, and risk-adjusted returns not only in the year ended Dec. 31 but also over their tenures, and we prefer managers with terms of at least five years at the helm. It helps if the managers have delivered outstanding results for a significant number of shareholders over time and exhibited histories of close alignment with shareholders.

Our finalists navigated geopolitical challenges at home and abroad, high valuations often belied by only modestly improving earnings and increasing debt, and a rising market tide that lifted almost all boats regardless of quality. Although it has been hard for active managers to beat U.S. stock indexes in recent years, these managers' rigorous research, time-tested processes, and investment skill have set them apart in today's market. Here are the finalists:

Steven Wymer

Fidelity Growth Company FDGRX

2017 Return: 36.8%

2017 Morningstar Category Rank (Percentile): 5

Steven Wymer has run Silver-rated Fidelity Growth Company since 1997. His penchant for firms operating in fast-growing niches with above-average top-line growth prospects and distinctive products often leads him to technology and healthcare stocks, two of the fund's largest sector weightings. In addition to the so-called "FANG" stocks, Wymer has scored with picks across the market-cap spectrum. He first bought top holding

Larry Puglia

T. Rowe Price Blue Chip Growth TRBCX

2017 Return: 36.6%

2017 Morningstar Category Rank (Percentile): 6

Larry Puglia, the sole manager of Gold-rated T. Rowe Price Blue Chip Growth since its 1993 inception, has produced consistent results thanks to his own insights and T. Rowe Price's well-regarded analyst bench. Puglia favors firms with durable growth prospects, keeping a diversified portfolio that mixes aggressive with cautious growers and making bigger bets on strong franchises. The fund's bets on technology and consumer discretionary stocks, particularly its large stakes in

Paul Viera

Harbor Small Cap Value HASCX

2017 Return: 21.6%

2017 Morningstar Category Rank (Percentile): 2

Silver-rated Harbor Small Cap Value's 21.6% rise in 2017 stood out in a year dominated by large-cap growth stocks. But it's no flash in the pan; Paul Viera, of subadvisor Earnest Partners, has steered this relative-value fund to success in various markets since its 2001 inception. Viera and a 10-member investment team use a robust, proprietary screen to sort stocks based on their expected response to different financial conditions. The team then delves into firms' fundamentals to build a portfolio of about 60 attractively positioned names. Keeping turnover low and an eye on risk, Viera rode some long-term winners to 2017's strong showing. A heavy technology weighting paid off, with top holding Coherent COHR, first purchased in 2012, doubling for the second consecutive year. The fund's 2017 tally landed near the top of its small-blend category and easily surpassed its Russell 2000 Index benchmark's 14.7% gain. Coupled with strong relative results during both the financial crisis and 2011's sluggish market, Viera's record over his 16-year tenure is top-decile versus peers. Although this $3.9 billion strategy is nearing capacity, the fund is open to new investors.

Henry Ellenbogen

T. Rowe Price New Horizons PRNHX

2017 Return: 31.5%

2017 Morningstar Category Rank (Percentile): 10

Despite having the shortest tenure of this year's nominees, Henry Ellenbogen has generated a strong record at Silver-rated T. Rowe Price New Horizons since taking the helm in March 2010 and previously posted stellar results at

Morningstar analysts Katie Reichart and Christopher Franz contributed to this article.