Facebook (FB) - Get Report  shares are up over 14% thus far in 2016 and sailed through first-quarter earnings season, even while other large-cap tech players stumbled. Michael Cuggino, portfolio manager for the Permanent Portfolio Fund (PRPFX) - Get Report , said the social networking giant will continue to perform well as it starts cashing in on acquisitions made in recent years.

"They have already found a way to monetize advertising on the Facebook page," said Cuggino. "But some of their acquisitions are about to start monetizing and it presents a lot of continued growth for that company."

The Permanent Portfolio Fund has returned 9.8% thus far in 2016, according to Morningstar. The $2.9 billion has returned an average of 4.8% annually over the past ten years, outpacing 71% of its Morningstar category peers. The fund sports a trailing 12 month yield of 1%, according to Morningstar.

Cuggino is also positive on Chevron (CVX) - Get Report , up 13% year to date, and its healthy 4.2% dividend yield.

"They have the capital structure to withstand lower prices," said Cuggino. "They can turn on and off their exploration budgets as needed and they made a commitment to the dividend so it is a great total return holding, especially as energy prices go up in coming years."

Mining and materials stocks have rebounded since the start of the year with oil as commodity prices have stabilized. Cuggino owns copper and gold miner Freeport-McMoRan (MCX) - Get Report , which is up 75% so far in 2016.

"They have been beaten down quite a bit, so the move off the lows this year has been nice but it is a fraction of where we think the longer-term potential is," said Cuggino.

Speaking of gold, the yellow metal is up 20% so far in 2016, while silver has jumped 25%. Cuggino said uncertainty and easy money from central banks will lift the precious metals in coming years, or at least keep them as a valuable hedge in a diversified portfolio.