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After looking for value in the biggest Russell 1000 year to date losers, I thought I'd do the opposite today and take a look at the biggest year to date winners.

Ticker Short Name Total Return QTD (I) Op ROIC EV/TTM EBIT P/B
GMCR GREEN MOUNTAIN 93.76 15.22 35.63 9.42
WTW WEIGHT WATCHERS 80.15 52.58 10.45
FTO FRONTIER OIL 69.01 5.50 19.80 3.22
SD SANDRIDGE ENERGY 68.47 10.97 20.68 3.25
MTW MANITOWOC CO 65.29 7.41 16.51 5.91
HOC HOLLY CORP 54.02 14.07 12.71 4.78
SATS ECHOSTAR CORP-A 49.78 4.20 9.91 1.06
LVLT LEVEL 3 COMM INC 48.98 -1.72
TSO TESORO CORP 48.82 2.47 20.63 1.23
MU MICRON TECH 44.50 14.56 5.05 1.41
HRB H&R BLOCK INC 42.81 21.04 8.42 8.41
MRO MARATHON OIL 42.74 12.28 6.73 1.57
BIG BIG LOTS INC 42.71 34.78 6.15 3.42
COG CABOT OIL & GAS 41.11 5.80 24.13 2.94
HP HELMERICH & PAYN 40.12 11.59 10.92 2.44
JDSU JDS UNIPHASE 36.93 -2.76 108.44 4.63
REGN REGENERON PHARM 36.00 -16.33 7.62
CBS CBS CORP-B 35.87 11.55 9.82 1.79
NFLX NETFLIX INC 35.62 60.03 33.00 43.57

With an average YTD return of over 50%, your portfolio would be up pretty nicely if you had invested in a basket of these names. The real question is- is there any upside from here?

The answer, as always with investing, is it depends on what stocks you're looking at.

Green Mountain (NASDAQ:GMCR), for instance, looked awfully overvalued even before a 100% move. The company has been mentioned several times as a short candidate, but shares have continued to defy gravity despite poor earnings quality and constant shareholder dilution

Another name that seems richly priced is JDS Uniphase (NASDAQ:JDSU). The company trades for nosebleed multiples despite a history of losses and poor returns on capital. Investors may want to consider how much they are paying for future growth at today's prices. Level 3 (NYSE:LVLT) has many of the same issues, though some writers believe they may be on the verge of a turn around or a takeover.

In contrast, some of the names on this list still look very cheap. Micron (NASDAQ:MU), for example, is still one of cheapest names in tech. The company has strong returns on capital and appears poised to ride a tremendous tech growth cycle, but still trades for low valuations and seems undervalued even after a strong run in its stock this quarter.

H&R Block (NYSE:HRB) also could over some value. Shares have recovered from distressed prices as investors overcame concerns about RALs and focused on HRB taking market share from weaker competitors, but the stock still offers magic formula like characteristics plus a strong dividend.

While investors are unlikely to realize the same sort of returns going forward as they did in the past quarter, they could find a lot of value even after the big run up.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: Looking for Value in the 25 Biggest YTD Winners