NEW YORK (TheStreet) - Given that water scarcity, especially in California, continues to be a concern, Garvin Jabusch, portfolio manager for the Shelton Alpha Mutual Fund, says he's surprised that water utility companies like Consolidated Water  (CWCO - Get Report) haven't traded that well. 

The stock is down around 22% in the past 12 months and recently sold off after the company released its fourth quarter earnings results. 

Despite the recent trend, Jabusch says he likes the stock's long-term prospects, especially as it builds out its huge plant in Mexico, which will be capable of processing 100 million gallons of water per day. 

It's "almost inescapable that they'll go on to do well" longer term, he reasoned. The recent weakness in the stock has presented a great buying opportunity, given the scarcity of water the world currently faces. 

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Shelton Green Alpha Fund NEXTX data by Charts

Jabusch also likes Advanced Energy Industries (AEIS - Get Report), a stock that has fared much better -- up almost 40% in the past six months. 

Unlike most solar stocks, which tend to trade in the same direction as oil prices, Advanced Energy Industries has done the opposite. 

However, he explained that solar stocks shouldn't have anything to do with oil prices, as they are technology companies. As demand for technology products increases, prices go down. 

That's in stark contrast to commodities, which see prices go higher as demand rises. 

Finally, his last pick includes Autodesk (ADSK - Get Report), the 3-D software company. The company's products apply to everyone from artists to air traffic engineers, he said. 

The company grew revenues 13.3% in its most recent quarter, while also topping analysts' EPS estimates. 

Projects that once took months or years can be done in as little as hours or days now. And while 3-D printing is just one part of Autodesk's businesses, Jabusch says he's very optimistic on 3-D printing for the long-term.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.