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FMI Large Cap receives a Morningstar Analyst Rating of Gold for its ability to profit from market overreactions.
Anchored by CIO Patrick English and research director Jonathan Bloom, the fund's 10-person management team combines pickiness with valuation sensitivity when buying stocks. The team began building a position in Twenty-First Century Fox (FOX) in 2016's first quarter, around the time its shares had dropped a third from their 2014 peak. It looked past worries about pay-TV profitability and saw the opportunity to get the global media company's assets on the cheap. A later bidding war between Walt Disney (DIS) and Comcast (CMCSA) to acquire some of those assets helped unlock their value, and shares of Fox surged 41% in 2018 versus the S&P 500's 4.4% loss.
Alec Lucas, Ph.D. does not own shares in any of the securities mentioned above. Find out about Morningstar's editorial policies.