5-Star Manager's Top Picks and Portfolio Holdings

There are still a lot of stocks that trade at “very low” valuations and have lagged the market badly, said 5-star manager Brian Barish, president and director of research at Cambiar Investors.

“We had a wicked 'January effect' in the first quarter—the impact of the financial crisis, even though the market is up a tremendous amount from its lows, is still with us,” Barish told CNBC.

But despite the "January Effect," Barish’s Cambiar Aggressive Value fund (CAMAX) saw a 19 percent return over the first quarter—its best quarter in more than a decade.

“Our best position in the first quarter was Alcatel-Lucent and we’ve sold that—it was up almost 100 percent in the quarter,” he explained. “We’re [now] looking for some laggards that are compressed.”

Barish’s top picks include Target and Motorola Mobility .

CAMAX’s Top Holdings:

Apache

Hess

Sprint Nextel

Repsol YPF SA

Target

______________________________
Scorecard—What He Said:

• Barish's Previous Appearance on CNBC (Feb. 8, 2011)

______________________________
More Market Intelligence:

• Small Investors Avoid Stocks, So What Are They Buying?
• 'Buy the Dips'—Recovery Will Continue: Strategist
• Markets Will End Year Higher: Stock Picker

______________________________
CNBC Data Pages:

• Dow 30 Stocks—In Real Time
• Oil, Gold, Natural Gas Prices Now
• Where's the US Dollar Today?

______________________________
CNBC Slideshows—FYI:

• Cities You Don't Want To Live In... Yet

______________________________

______________________________
Disclosures:

Neither Barish nor his family personally own shares of TGT, MMI, FST, S or SKM.

______________________________

Disclaimer