Deep Dive: Four stock picks in an outperforming fund that has only 31 holdings

Fairpointe Capital’s focused equity strategy, which has only 31 holdings in a portfolio that mainly includes private accounts, has doubled the returns of the S&P 500 Index this year.

The portfolio was up 19.9% for 2016 (through November), compared with 9.8% for the S&P 500 SPX, -0.84%

Among the best-performing holdings this year are Kennametal Inc. KMT, -2.80% a Pittsburgh-based maker of industrial machinery that has soared 75%; Quanta Services Inc. PWR, -1.77% a Houston-based provider of engineering services for the electric-power, oil and gas infrastructure industries that has increased 73%; and Apache Corp. APA, -2.64% a Houston-based oil and natural gas exploration and production company that’s up 52%.

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