Shares of Amazon.com (AMZN) more than doubled in 2015, but have dropped over 12 percent this year. James Abate, chief investment officer for Centre Funds, said investors should gladly take the shares off the hands of those taking profits. 'It is one of the few companies in the stock market today that is reinvesting back into its business in a profitable manner and has the capability to generate significant sales growth,' said Abate. 'But perhaps most importantly it has the potential to improve on its profit margins and returns on capital.' Abate's Centre American Select Equity Fund (DHAMX) is up over 2 percent so far in 2016, according to fund-tracker Morningstar. The $162 million fund has returned 4.7 percent in the past year, outpacing 97% of its peers in Morningstar's large growth-cap category. Abate is also bullish on shares of Pepsico (PEP) , which are up 4 percent year-to-date, nearly three full percentage points more than the S&P 500. Abate said the food and beverage-seller is still not pricey despite a multiple of 21 times its forecast 2017 earnings.