By JeeYeon Park, CNBC News Associate

NEW YORK ( CNBC) -- Stocks that have largely underperformed are expected to be this year's big gainers, said Alan Lancz, president of asset management firm Alan B. Lancz & Associates, and Howard Ward, portfolio manager of Gamco Growth Fund.

"The S&P 500 is up 22 percent since late August of 2010 , so we're due for a correction," Ward told CNBC.

"And we're going to have plenty of excuses for that, whether it's municipal bond funding, European debt crisis, disappointing jobs reports, earnings or earnings guidance," he added.
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Ward advised investors to "take their foot off the accelerator" and to avoid the big winners from 2010.

"Try to find stocks that haven't had a big move -- buy low and sell high," he suggested. (Scroll down for his full picks.)

In the meantime, Lancz said he has been taking profits in some of the "high-flyers," such as commodities.

"Fortunately, this market has been generous in presenting opportunities in companies and sectors that have underperformed," he explained. "And high-quality companies that trade at lows that have really presented some bargains for us and done well."

Alan Lancz Likes:

Howard Ward Likes:
  • Google (GOOG)
  • General Electric (GE)
  • Southwestern Energy (SWN)
  • Ultra Petroleum (UPL)

-- Written by JeeYeon Park of CNBC
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