U.S. Potentially Undervalued Companies

Gaotu Techedu

Market Cap: US$828.1m

A data-driven education company, provides learning services, educational content, and digitalized learning products in Mainland China.

Techtronic Industries

Market Cap: US$179.3b

Engages in the provision of power tools, outdoor power equipment, and floorcare and cleaning products.

CF Bankshares

Market Cap: US$156.7m

Operates as the bank holding company for CFBank, National Association that provides various banking products and services.

Pharming Group

Market Cap: US$872.2m

A biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally.

Crédit Agricole

Market Cap: US$49.8b

Provides retail, corporate, insurance, and investment banking products and services in France and internationally.

Kiniksa Pharmaceuticals International

Market Cap: US$2.7b

A biopharmaceutical company, developing and commercializing novel therapies for diseases with unmet need and focuses on cardiovascular indications worldwide.

Bank Negara Indonesia (Persero)

Market Cap: US$156.1t

Provides various banking products and services in Indonesia, rest of Asia, New York, and Europe.

Great-West Lifeco

Market Cap: US$49.9b

Engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe.

Sinopharm Group

Market Cap: US$57.3b

Engages in the wholesale and retail of pharmaceutical and healthcare products, and medical devices in the People’s Republic of China.

Manulife Financial

Market Cap: US$72.9b

Provides financial products and services in the United States, Canada, Asia, and internationally.

Cadeler

Market Cap: US$18.1b

Engages in offshore wind farm installation, operations, and maintenance services in Denmark.

Ellington Financial

Market Cap: US$1.3b

Through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States.

Drilling Tools International

Market Cap: US$73.5m

Provides oilfield equipment and services to oil and natural gas sectors in North America, Europe, and the Middle East.

AXIS Capital Holdings

Market Cap: US$7.5b

Through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally.

Sylogist

Market Cap: US$159.3m

A software company, provides mission-critical software-as-a-service solutions to public sector customers in Canada, the United States, the United Kingdom, and internationally.

Stoneridge

Market Cap: US$224.9m

Designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, and agricultural vehicle markets in North America, South America, Europe, Mexico, China, and internationally.

Gibraltar Industries

Market Cap: US$1.8b

Manufactures and provides products and services for the residential, renewable energy, agtech, and infrastructure markets in the United States and internationally.

ATN International

Market Cap: US$237.3m

Through its subsidiaries, provides digital infrastructure and communications services to residential, business, and government customers in the United States, Guyana, the US Virgin Islands, Bermuda, and internationally.

Alarm.com Holdings

Market Cap: US$2.6b

Provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally.

CBAK Energy Technology

Market Cap: US$78.0m

CBAK Energy Technology, Inc., together with its subsidiaries, manufacture, commercialization, and distribution of standard and customized lithium and sodium batteries in Mainland China, Europe, and internationally.

JD Sports Fashion

Market Cap: US$4.5b

Engages in the retail of branded sports fashion and outdoor clothing, footwear, accessories, and equipment for women and men in the United Kingdom, Europe, North America, the Asia Pacific, and internationally.

Nedbank Group

Market Cap: US$96.9b

Provides various wholesale and retail banking services in South Africa and internationally.

United Therapeutics

Market Cap: US$19.8b

A biotechnology company, engages in the development and commercialization of products to address the unmet medical needs of patients with chronic and life-threatening diseases in the United States and internationally.

Apple Hospitality REIT

Market Cap: US$2.9b

Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (“REIT”) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States.

Evolution

Market Cap: US$163.4b

Develops, produces, markets, and licenses online casino systems to gaming operators in Europe, Asia, North America, Latin America, and internationally.

BDO Unibank

Market Cap: US$733.3b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

Nippon Steel

Market Cap: US$3.3t

Engages in steelmaking and steel fabrication, engineering, chemicals and materials, and system solutions businesses in Japan and internationally.

PCCW

Market Cap: US$40.5b

Provides telecommunications and related services in Hong Kong, Mainland and other parts of China, Singapore, and internationally.

Federal Realty Investment Trust

Market Cap: US$8.6b

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets and select underserved regions with strong economic and demographic fundamentals.

Byline Bancorp

Market Cap: US$1.3b

Operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States.

PulteGroup

Market Cap: US$25.8b

Through its subsidiaries, engages in the homebuilding business in the United States.

Anika Therapeutics

Market Cap: US$130.8m

A joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, sports medicine, and arthrosurface joint solutions in the United States, Europe, and internationally.

HEXPOL

Market Cap: US$29.3b

Develops, manufactures, and sells various polymer compounds and engineered gaskets, seals, and wheels in Sweden, rest of Europe, the United States, rest of the Americas, and Asia.

Samsonite Group

Market Cap: US$24.3b

Engages in the design, manufacture, sourcing, and distribution of luggage, business and computer bags, outdoor and casual bags, and travel accessories in Asia, North America, Europe, and Latin America.

Anglo American

Market Cap: US$28.9b

Operates as a mining company in the United Kingdom and internationally.

Alamtri Resources Indonesia

Market Cap: US$50.3t

Engages in the coal and mining business in Indonesia.