Huber Capital Management Top Picks Include CNO Financial Group Inc (CNO) & ENSCO PLC (ESV)

Huber Capital Management, led by Joe Huber, is based in California and was founded in 2007. The fund focuses on investing in value stocks of large cap, mid-cap, and small cap companies. Mr. Huber is the chief executive officer and chief investment officer at Huber Capital Management LLC. Mr. Prior to founding Huber Capital Management, he was a Principal and Director of Research for Hotchkis and Wiley Capital Management. Huber received a bachelor degree in Statistics and Econometrics from the Northwestern University and an MBA degree from the University of Chicago.

CNO Financial Group Inc (NYSE:CNO)

In its latest 13F, Huber Capital Management has revealed a total of 111 positions, with the value of equity portfolio amounting to $3.8 billion. The fund focuses on the Financial and Basic Materials stocks. The fund started more than five new positions during the first three months of the year.

Huber Capital Management is bullish on CNO Financial Group Inc (NYSE:CNO), in which it raised its stake to 14.15 million shares, worth $256.17 million, from 13.88 shares held previously. The reported value of current stock is $256.2 million. CNO Financial Group Inc (NYSE:CNO) is a holding company, whose insurance subsidiaries primarily serve middle-income pre-retiree and retired Americans. Other largest shareholders of the company include John Paulson’s Paulson & Co and Thomas E. Claugus’ Gmt Capital, owning 12.46 million and 1.62 million shares, respectively as of the end of March.

In ENSCO PLC (NYSE:ESV), Huber Capital Management disclosed a $159.7 million stake, which contains 3.03 million shares. The position represents an increase from 2.49 million shares the fund held previously. The company provides offshore drilling services to the petroleum industry, and has a market cap of $24.5 billion. Recently, the company named Carl Trowell as chief executive officer and president. Mr. Trowell gas also been appointed to Ensco’s board, according to a statement.

Carpenter Technology Corporation (NYSE:CRS) is another important holding, in which the fund boosted its stake to 1.68 million shares, valued at $110.70 million, from 1.60 million shares reported earlier. For the quarter ended March 31, 2014, the company posted net income of $30.6 million, or $0.57 per diluted share, compared to $32.9 million, or $0.62 per diluted share, in the same quarter last year. Carpenter Technology Corporation (NYSE:CRS) is engaged in the production and distribution of premium alloys, including special alloys, titanium alloys and powder metals, as well as stainless steels, alloy steels and tool steels. Other investors of the company include Chuck Royce’s Royce & Associates, which holds 844,600 shares, and Israel Englander’s Millennium Management, which owns 139,100 shares, as of the end of March 31, 2014.

Huber Capital Management revealed ownership of 3.29 million shares of CA Inc. (NASDAQ:CA), the stake is up from 3.1 million shares the fund held previously, the new value of the holding amounting to $101.75 million. With a market cap of $12.7 billion, the company is engaged in providing IT management solutions that help customers manage and secure complex IT environments to support agile business services. The company’s stock currently trades at approximately $28.70, while the average target price stands at $29.72. Winton Capital Management, managed by David Harding, holds 2.50 million shares of the company, according to its latest 13F.

The fund boosted its stake in Exelon Corporation (NYSE:EXC) to 2.81 million shares from 2.72 million shares. Exelon Corporation (NYSE:EXC), which is a holding company for several energy businesses, has a market cap of $31.4 billion. Other significant shareholders include Clint Carlson’s Carlson Capital and Millennium Management, holding 2.92 million shares and 2.63 million shares, respectively.

In addition, Huber Capital Management sold off its positions in Applied Materials Inc. (NASDAQ:AMAT) and Endo International PLC (NASDAQ:ENDP), dumping 100,000 shares and 572,223 shares, respectively.

Disclosure: none

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