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For years the so-called FANG stocks (Facebook, Amazon, Netflix and Google) were all the rage. That was where the top portfolio managers put some huge bets, and boy did it pay off. While there still could be upside left in these stocks, and technology remains heavily overweight, for the fourth time in the past five months holdings in technology by large-cap active managers have fallen.

So the question is where is all that money from technology going? In a new Merrill Lynch research piece, Savita Subramanian, the firm’s outstanding equity and quant strategist, makes the case that while tech exposure has dropped, a pick-up in cyclical exposure suggests that some of the more bearish fund managers’ outlooks may be improving.

The report also includes a list of stocks that are rated Buy at Merrill Lynch but are heavily underweighted by the top active managers. We picked five that pay dividends, are held by less than a third of fund managers and still offer investors solid upside potential in a pricey market.

ADP

This conservative information technology company makes the list. Automatic Data Processing Inc. (NASDAQ: ADP) is one of the world’s largest providers of business outsourcing and human capital management solutions. It offers a wide range of human resource, payroll, talent management, tax and benefits administration solutions from a single source, and it helps clients comply with regulatory and legislative changes, such as the Affordable Care Act (ACA).

The company has been primarily benefiting from continued strength in its PEO services and growth in its newer platforms like RUN, Workforce Now and Vantage. In addition, it has a sizable market share in the payroll processing business. Apart from the core payroll processing business, ADP is also expected to benefit from new higher-growth services like tax filing, retirement, pre-employment, insurance and others.

ADP investors are paid a 2.09% dividend. The Merrill Lynch price target for the stock is $131, and the Wall Street consensus target is much lower at $117.23. The stock closed Monday’s trading at $120.76.

Best Buy

This may be a great company for investors looking for retail exposure. Best Buy Co. Inc. (NYSE: BBY) is the top specialty retailer of consumer electronics. The company finished 2016 with 1,363 domestic stores, including 1,026 Best Buys, 28 Pacific Sales locations and 309 stand-alone Best Buy Mobiles. The company also offers a variety of high-margin services, through its Geek Squad and Magnolia home theater channels.

Despite a solid run, Merrill Lynch still likes the shares for 2018 as the company has a favorable combination of upside from tax reform, a beneficial cycle and protection from disruption as it has few challengers in its space.

Investors are paid a 2.38% dividend. Merrill Lynch has a $78 price target, and the consensus target is $67.07. The shares closed on Monday at $76.59.

Exxon

This company remains a top Wall Street energy pick. Exxon Mobil Corp. (NYSE: XOM) is the world’s largest international integrated oil and gas company. It explores for and produces crude oil and natural gas in the United States, Canada, South America, Europe, Africa and elsewhere.

The company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and specialty products, and it transports and sells crude oil, natural gas and petroleum products.

For 75 years in a row, Exxon has raised its dividend on a split-adjusted basis. Thanks to the company’s vertically integrated model in the oil and gas business, its profitability doesn’t suffer through commodity price swings like a company that’s a pure play in one segment of the value chain.

Shareholders are paid a nifty 3.5% dividend. The $102 Merrill Lynch price objective is higher than the consensus target price of $88.95. The stock closed Monday at $88.01.

IBM

This blue chip leader has rallied but still may be offering investors among the best entry point in years. International Business Machines Corp. (NYSE: IBM) is a leading provider of enterprise solutions, offering a broad portfolio of information technology (IT) hardware, business and IT services, and a full suite of software solutions. The company integrates its hardware products with its software and services offerings in order to provide high-value solutions.

IBM’s five major segments are: 1) Cognitive Solutions, 2) Global Business Services, 3) Technology Services & Cloud Platforms, 4) Systems and 5) Global Financing. Analysts cite the company’s potential in the public cloud as a reason for raising price objectives.

IBM posted better than expected fourth-quarter results, and for the first time in 22 consecutive quarters, revenue declining on a year-over-year basis has ended. Now that streak has finally ended, it looks like a positive sign as the company faces competition from faster-growing companies.

IBM shareholders are paid a 3.91% dividend. The Merrill Lynch price target is $200. The consensus target is $170.75, and shares closed Monday at $166.80.

Western Digital

This long-time innovator in the storage industry is a leader in the total addressable HDD market. Western Digital Corp. (NASDAQ: WDC) is an industry-leading developer and manufacturer of storage solutions that help to create, manage, experience and preserve digital content.

The company is responding to changing market needs by providing a full portfolio of compelling, high-quality storage products with effective technology deployment, high efficiency, flexibility and speed. Its products are marketed under the HGST and WD brands to original equipment manufacturers, distributors, resellers, cloud infrastructure providers and consumers.

In addition, the long-drawn dispute with Toshiba finally was put to rest, and Merrill Lynch recently said:

The global settlement is positive as it removes uncertainty of NAND supply for Western Digital and the company gets to protect its intellectual property. The company positively preannounced the December quarter (revenue high end, margins came in better, offset somewhat by higher operating expense). Visibility has improved and management expects the flash supply/demand environment to remain healthy throughout 2018.

Shareholders are paid a 2.3% dividend. Merrill Lynch analysts have set a whopping $120 price target. The consensus target is $113.12, and the stock ended trading on Monday at $87.45.

These five stocks offer investors value characteristics, are overlooked by managers, but also look very well positioned for 2018. All make good sense for more conservative growth and income accounts that do have a degree of risk tolerance.