Top 10 Stock Picks of Joe Huber’s Huber Capital Management

Published November 20, 2021 at 3:21 pm EST Updated August 19, 2026 at 12:05 pm EDT

In this article, we discuss the top 10 stock picks of Joe Huber’s Huber Capital Management.

Joe Huber is the chief executive officer and chief investment officer at Huber Capital Management, which is a California-based investment advisory firm offering its services to institutional investors, high-net worth individuals, and mutual funds. According to the latest 13F filings, Huber manages discretionary assets under management of $328.93 million, and a portfolio valued at $387.1 million.

Joe Huber received his Bachelor’s in statistics and econometrics from Northwestern University, followed by an MBA from the University of Chicago, specializing in accounting and finance. Prior to establishing Huber Capital Management in 2007, he was a principal and director of research for Hotchkis and Wiley Capital Management, where he managed over $40 billion in U.S. asset portfolios. His investment philosophy is based on utilizing fundamental research paired with behavioral psychology to create a value-added investment strategy. Before joining Hotchkis and Wiley, Huber served as the portfolio manager and director for Merrill Lynch Asset Management, as well as the portfolio manager for The Goldman Sachs Group, Inc. (NYSE:GS).

Top 10 Stock Picks of Joe Huber's Huber Capital Management

Joe Huber of Huber Capital Management

The investment portfolio at Huber Capital Management is concentrated in the finance, healthcare, information technology, industrials, energy, and consumer discretionary sectors. The most notable stocks in Huber’s Q3 portfolio include Chevron Corporation (NYSE:CVX), JPMorgan Chase & Co. (NYSE:JPM), and Philip Morris International Inc. (NYSE:PM), among others discussed at length ahead.

Our Methodology

We used Joe Huber’s Q3 portfolio to create a list of his top 10 stock picks, and ranked them according to Huber Capital Management’s stake value in each holding.

Top Stock Picks of Joe Huber’s Huber Capital Management

10. BP p.l.c. (NYSE:BP)

Huber Capital Management’s Stake Value: $10,312,000

Percentage of Huber Capital Management’s 13F Portfolio: 2.66%

Number of Hedge Fund Holders: 30

BP p.l.c. (NYSE:BP) is a British multinational oil and gas corporation that is considered to be one of the Big Oil companies. BP p.l.c. (NYSE:BP) is engaged in power generation, exploration of oil and gas, and renewable energy sources like wind, solar, and biofuels. Huber Capital Management, as of the third quarter, owns 377,300 shares in BP p.l.c. (NYSE:BP), worth $10.2 million, representing 2.66% of the firm’s Q3 portfolio.

As of the second quarter of 2021, 30 hedge funds in the database of Insider Monkey were bullish on BP p.l.c. (NYSE:BP), with stakes worth over $1 billion. The leading stakeholder in BP p.l.c. (NYSE:BP) is Ken Fisher’s Fisher Asset Management, with a $345.3 million stake in the company.

BP p.l.c. (NYSE:BP) posted its Q3 results on November 2. EPS in the period came in at $0.99, beating estimates by $0.12. Revenue for the quarter totaled $36.17 billion, exceeding estimated revenue by $4.12 billion.

Morgan Stanley analyst Martijn Rats on November 9 raised the price target on BP p.l.c. (NYSE:BP) to £401 from £388 and kept an Equal Weight rating on the stock.

In addition to Chevron Corporation, JPMorgan Chase & Co., and Philip Morris International Inc., BP p.l.c. (NYSE:BP) is a notable stock in Huber’s Q3 portfolio.

9. Innospec Inc. (NASDAQ:IOSP)

Huber Capital Management’s Stake Value: $11,463,000

Percentage of Huber Capital Management’s 13F Portfolio: 2.96%

Number of Hedge Fund Holders: 14

Innospec Inc. (NASDAQ:IOSP), an American specialty chemical company, announced its earnings on November 2, with EPS for the period equaling $1.15, beating estimates by $0.19. Revenue for the quarter totaled $376.1 million, up 48.7% year-over-year, exceeding estimated revenue by $29.95 million.

Huber Capital Management holds 136,107 shares in Innospec Inc. as of September this year. With a total stake value of $11.46 million, Innospec Inc. represents 2.96% of Huber’s Q3 portfolio.

Chuck Royce’s Royce & Associates is the leading Innospec Inc. stakeholder, with 1.19 million shares worth $100.8 million. Overall, 14 hedge funds reported owning stakes in the company as of the second quarter, with stakes valued at approximately $114.6 million.

CL King analyst David Silver lowered the price target on October 6 to $110 from $115 and kept a Buy rating on Innospec Inc., citing the soaring natural gas and power costs.

8. Royal Dutch Shell plc (NYSE:RDS)

Huber Capital Management’s Stake Value: $11,561,000

Percentage of Huber Capital Management’s 13F Portfolio: 2.98%

Number of Hedge Fund Holders: 38

Royal Dutch Shell plc (NYSE:RDS) is an oil and gas supermajor distributing natural gas, petrochemicals, petroleum, liquified natural gas, and lubricants worldwide. Royal Dutch Shell plc (NYSE:RDS) accounts for 2.98% of Joe Huber’s Q3 portfolio, with Huber Capital Management holding an $11.5 million stake in the company.

Scotiabank analyst Paul Cheng on November 17 upgraded Royal Dutch Shell plc (NYSE:RDS) to Outperform from Sector Perform, setting a price target of $56, up from $54. This was in light of the company’s announcement to simplify its share and corporate structure.

On October 28, Royal Dutch Shell plc (NYSE:RDS) announced its Q3 results. EPS in the third quarter equaled -$0.12, missing estimates by -$1.62. The revenue came in at $60.04 billion, also missing analysts’ consensus estimates by -$3.36 billion.

At the end of June this year, 38 hedge funds held stakes in Royal Dutch Shell plc (NYSE:RDS) worth $2.4 billion, up from 36 funds in the previous quarter with a total stake value of $2.19 billion. Pzena Investment Management holds a $179.6 million stake in the company, making it one of the leading Royal Dutch Shell plc (NYSE:RDS) stakeholders.

7. CNO Financial Group, Inc. (NYSE:CNO)

Huber Capital Management’s Stake Value: $11,799,000

Percentage of Huber Capital Management’s 13F Portfolio: 3.04%

Number of Hedge Fund Holders: 21

CNO Financial Group, Inc. (NYSE:CNO) is an American provider of life insurance, health insurance, and annuity. The Indiana-based company serves over 4 million customers in the US. As of Q3 2021, Huber Capital Management owns 501,219 shares in CNO Financial Group, Inc., valued at $11.79 million, representing 3.04% of the firm’s portfolio.

Paradice Investment Management is one of the largest CNO Financial Group, Inc. stakeholders, with stakes worth $108.1 million. Overall, 21 hedge funds in the database of Insider Monkey were bullish on CNO Financial Group, Inc., up from 18 in the preceding quarter.

The Q3 EPS for CNO Financial Group, Inc. on October 28 came in at $0.72, beating estimates by 20%, owing to lower expenses. However, the $968 million Q3 revenue declined 4.5% year-over-year.

In addition to Chevron Corporation, JPMorgan Chase & Co., and Philip Morris International Inc., CNO Financial Group, Inc. is a notable stock in Huber’s Q3 portfolio.

6. First Horizon Corporation (NYSE:FHN)

Huber Capital Management’s Stake Value: $13,957,000

Percentage of Huber Capital Management’s 13F Portfolio: 3.60%

Number of Hedge Fund Holders: 27

First Horizon Corporation (NYSE:FHN) is a bank holding company which operates via its subsidiary, First Horizon. It is the largest bank in Tennessee, offering banking, wealth management, insurance, and trading services. Joe Huber owns a $13.95 million stake in First Horizon Corporation as of Q3 that accounts for 3.60% of his investment portfolio.

First Horizon Corporation posted its Q3 results on October 20. EPS in the period came in at $0.50, beating estimates by $0.09. The revenue was down 44.04% from the prior-year quarter, but it exceeded estimates by $15.09 million.

At the end of the second quarter, 27 hedge funds were long First Horizon Corporation, with AQR Capital Management being the largest stakeholder of the company, with a position worth $14.8 million in First Horizon Corporation.

On October 7, Raymond James analyst Michael Rose downgraded First Horizon Corporation to Outperform from Strong Buy with a price target of $19, down from $20. He stated that the bank holding company would face high near-term expenses.

5. Comtech Telecommunications Corp. (NASDAQ:CMTL)

Huber Capital Management’s Stake Value: $14,201,000

Percentage of Huber Capital Management’s 13F Portfolio: 3.66%

Number of Hedge Fund Holders: 13

Comtech Telecommunications Corp. (NASDAQ:CMTL) is an advanced communications company that leverages satellites, amplifiers, and high-performance transmission technologies to create advanced communications solutions. As of September this year, Comtech Telecommunications Corp. represents 3.66% of Joe Huber’s Q3 portfolio, with Huber Capital Management owning a $14.2 million stake in the company.

Acacia Research Corporation (NASDAQ:ACTG) is known for buying healthcare and technology businesses, and on November 1, the corporation offered to purchase Comtech Telecommunications Corp. for $30 per share in cash, which would result in a $790 million transaction. Even though the deal hasn’t been accepted by Comtech Telecommunications Corp. yet, the board is taking it under consideration. Comtech Telecommunications Corp. shares shot up by $5.01, or 23%, to $26.58 in pre-market trading following the acquisition report.

At the end of June this year, 13 hedge funds were long Comtech Telecommunications Corp., with stakes worth $51.1 million.

4. Rent-A-Center, Inc. (NASDAQ:RCII)

Huber Capital Management’s Stake Value: $16,437,000

Percentage of Huber Capital Management’s 13F Portfolio: 4.24%

Number of Hedge Fund Holders: 29

Huber Capital Management owns 292,429 shares in Rent-A-Center, Inc. (NASDAQ:RCII), which is a rent-to-own furniture and electronics company from Texas. The $16.4 million stake in Rent-A-Center, Inc. represents 4.24% of Huber’s Q3 portfolio. Glenn Welling’s Engaged Capital is the leading Rent-A-Center, Inc. stakeholder from the 29 hedge funds that were bullish on the company as per Insider Monkey’s database of elite funds at the end of June this year.

Rent-A-Center, Inc. posted its Q3 results on November 3. EPS in the quarter totaled $1.52, beating estimates by $0.03. The revenue came in at $1.18 billion, up 65.9% from the prior-year quarter, beating estimates by $2.78 billion.

On November 5, Raymond James analyst Bobby Griffin lowered the price target on Rent-A-Center from $70 to $65 and kept a Strong Buy rating on the shares post the Q3 results.

3. Golar LNG Limited (NASDAQ:GLNG)

Huber Capital Management’s Stake Value: $18,795,000

Percentage of Huber Capital Management’s 13F Portfolio: 4.85%

Number of Hedge Fund Holders: 17

Golar LNG Limited (NASDAQ:GLNG) is headquartered in Bermuda, and it owns and operates marine liquified natural gas infrastructure. As of Q3 2021, Joe Huber’s Huber Capital Management holds an $18.79 million stake in the company that represents 4.85% of the firm’s 13F portfolio.

Orbis Investment Management, a hedge fund managed by William B. Gray is the leading stakeholder in Golar LNG Limited, with 11.78 million shares worth $152.8 million. Overall, 17 hedge funds in the database maintained by Insider Monkey as of Q2 were long Golar LNG Limited, with a total stake value of $360.7 million.

Revenue for Q3 was announced on November 9, coming in at $106.60 million, beating estimates by $3.38 million. Golar LNG Limited posted a loss of $0.81 per share in the third quarter.

2. Microsoft Corporation (NASDAQ:MSFT)

Huber Capital Management’s Stake Value: $21,624,000

Percentage of Huber Capital Management’s 13F Portfolio: 5.58%

Number of Hedge Fund Holders: 238

Microsoft Corporation (NASDAQ:MSFT) posted solid Q3 results on October 26, with an EPS of $2.27, exceeding estimates by $0.19. Revenue for the quarter equaled $45.32 billion, beating estimated revenue by $1.33 billion. Credit Suisse analyst Phil Winslow on November 16 assumed coverage of Microsoft Corporation with an Outperform rating and a $400 price target.

Huber Capital Management owns 76,701 shares in Microsoft Corporation as of the third quarter, worth $21.62 million, representing 5.58% of the firm’s 13F portfolio.

Arrowstreet Capital is one of the leading Microsoft Corporation stakeholders as per Insider Monkey’s records, with 17.9 million shares worth over $5 billion. Overall, 266 hedge funds were bullish on the company at the end of Q2, with a total stake value of $62.4 billion.

Alger mentioned Microsoft Corporation in its Q3 2021 investor letter. Here is what the firm has to say:

“Microsoft Corporation was among the top contributors to performance during the third quarter. Microsoft is a Positive Dynamic Change beneficiary of corporate America’s transformative digitization. Microsoft’s enterprise cloud product, Azure, is rapidly growing and accruing market share. Microsoft reported that Azure grew 51% in the second quarter. This high unit volume growth is a primary driver of the company’s higher share price, but the company’s strong operating execution has enabled margin expansion that has also helped to increase forward earnings estimates. We believe Microsoft’s subscription-based software offerings and cloud computing services have a durable growth profile because they enhance customers’ growth initiatives and help them to diminish costs. Additionally, investors appreciate Microsoft’s strong free cash flow generation and its return of cash to shareholders in the form of dividends and share repurchases.”

1. KBR, Inc. (NYSE:KBR)

Huber Capital Management’s Stake Value: $30,982,000

Percentage of Huber Capital Management’s 13F Portfolio: 8.00%

Number of Hedge Fund Holders: 36

KBR, Inc. (NYSE:KBR) is an American engineering and technology company that serves the aerospace, defense, industrial, and intelligence markets. Huber Capital Management holds 786,342 shares in KBR, Inc. as of September this year, valued at $30.9 million, representing 8% of Huber’s Q3 portfolio.

KBR, Inc. posted its Q3 results on October 28. EPS in the period equaled $0.64, beating estimates by $0.06. Revenue for the third quarter was $1.84 billion, up 33.65% year-over-year, outperforming estimates by $295.54 million.

The biggest stakeholder in KBR, Inc. is Ross Turner’s Pelham Capital, with 4.3 million shares worth $169.7 million. Overall, 36 hedge funds in the database of Insider Monkey were long KBR, Inc., with a total stake value of over $1 billion.

You can also take a look at Tech Stock Portfolio: 10 Tech Stock Picks from Andrew Immerman and Jeremy Schiffman’s Palestra Capital Management and Top 10 Stocks to Buy According to Jeff Ubben’s ValueAct Capital.

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