Ariel Appreciation (CAPPX) has reaped the benefits of a contrarian decision to invest in media and real estate. Lead manager John Rogers bet that Gannett (NYSE: GCI), publisher of USA Today, was undervalued as cash flows remained strong and advertising revenue recovered. Gannett shares rebounded strongly and the fund’s trailing three-year return of 11.9 percent puts it in the top 3 percent of Morningstar’s Mid-Cap Blend category.

Vanguard Dividend Growth (VDIGX) dropped out of The Rukeyser 100 this month, but there’s no reason for investors to sell the fund. The fund’s phenomenal performance in 2008—when it gave up just 25.6 percent versus a 37.8 percent loss for the S&P 500—has powered its three-year returns. However, 2008 soon will no longer be factored into the fund’s trailing three-year performance. The fund’s riskier peers outperformed in 2009 and 2010, but Vanguard Dividend Growth’s heavy investment in defensive sectors should pay off as investors seek safety in dividend-paying names.