While the market is up well over 50% since its March low, money manager John Buckingham says you can still find values — particularly in areas left behind in the recent rally.

“This a rally that has been led by the risky stuff,” Buckingham tells BusinessWeek. “Investors should be gravitating toward the names that really haven’t had a great performance in the [market] recovery.”

Buckingham says to start with large, dividend-paying companies with safe reputations. He’s buying Wal-Mart, Verizon, Lockheed Martin, and Abbott Laboratories, according to BusinessWeek.

Another top manager who sees opportunities in left-behind stocks is Russell Croft, portfolio manager of the Croft Value Fund, which is in the top 10% of performers in its category over the past three, five, and ten years, according to Morningstar. “We look at things that might not have moved [and] might not be getting as much credit in this environment,” Croft told BusinessWeek, which notes that Croft has bought Procter & Gamble and Lowe’s Companies, which are both down slightly for the year.

But Croft doesn’t rule out firms that have done well in ’09, if they have continued growth potential. His fund holds shares of Cisco Systems (CSCO), up 45% this year, BusinessWeek says.