U.S. Potentially Undervalued Companies

Pacific Financial

Market Cap: US$114.4m

Operates as the bank holding company for Bank of the Pacific that provides various banking products and services.

Guangzhou Automobile Group

Market Cap: US$69.9b

Research, develops, manufactures, and sells vehicles and motorcycles, and parts and components in Mainland China and internationally.

Wal-Mart de México. de

Market Cap: US$970.4b

Owns and operates self-service stores in Mexico and Central America.

indie Semiconductor

Market Cap: US$849.6m

Provides automotive semiconductors and software solutions for advanced driver assistance systems, driver automation, in-cabin, connected car, and electrification applications.

Direct Digital Holdings

Market Cap: US$8.4m

Operates as an end-to-end full-service advertising and marketing platform.

Vox Royalty

Market Cap: US$277.9m

Operates as a mining royalty company.

Sphere Entertainment

Market Cap: US$2.1b

Operates as a live entertainment and media company in the United States.

Toyota Motor

Market Cap: US$38.7t

Designs, manufactures, assembles, and sells passenger vehicles, minivans and commercial vehicles, and related parts and accessories in Japan, North America, Europe, Asia, Central and South America, Oceania, Africa, and the Middle East.

Empire State Realty Trust

Market Cap: US$2.1b

Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets.

Cardiff Oncology

Market Cap: US$135.7m

A clinical-stage biotechnology company, develops novel therapies for the treatment of various cancers.

US Foods Holding

Market Cap: US$17.2b

Engages in marketing, sale, and distribution of fresh, frozen, and dry food and non-food products to foodservice customers in the United States.

Harvard Bioscience

Market Cap: US$19.6m

Develops, manufactures, and sells technologies, products, and services for life science applications in the United States, Germany, and internationally.

Honat Bancorp

Market Cap: US$171.8m

Operates as a holding company for The Honesdale National Bank that provides banking services in the United States.

Acerinox

Market Cap: US$2.8b

Manufactures, process, and markets stainless steel products in Spain, the United States, Africa, Asia, Rest of Europe, and internationally.

G Mining Ventures

Market Cap: US$6.1b

A mining company, engages in the acquisition, exploration, and development of precious metal projects.

Akzo Nobel

Market Cap: US$10.3b

Produces and sells paints and coatings worldwide.

CB Financial Services

Market Cap: US$169.0m

Operates as the bank holding company for Community Bank that provides various banking products and services for individuals and businesses in southwestern Pennsylvania and West Virginia.

Vivid Seats

Market Cap: US$156.7m

Operates an online ticket marketplace in the United States, Canada, and Japan.

Tele2

Market Cap: US$108.8b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Companhia Paranaense de Energia - COPEL

Market Cap: US$36.6b

Engages in the generation, transformation, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers in Brazil.

Arcos Dorados Holdings

Market Cap: US$1.5b

Operates as a franchisee of McDonald’s restaurants.

Bakkt Holdings

Market Cap: US$430.6m

Offers software as a service and application programming interface solutions for crypto trading capabilities and loyalty for clients and customers.

H World Group

Market Cap: US$12.0b

Develops leased and owned, manachised, and franchised hotels in the People’s Republic of China.

Türk Telekomünikasyon Anonim Sirketi

Market Cap: US$178.3b

Operates as an integrated telecommunication company in Turkey.

LGI Homes

Market Cap: US$1.2b

Engages in the design, construction, and sale of homes in the United States.

Shake Shack

Market Cap: US$4.0b

Owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally.

MediPal Holdings

Market Cap: US$542.2b

Medipal Holdings Corporation engages in the prescription pharmaceutical wholesale business in Japan.

REGENXBIO

Market Cap: US$472.8m

A clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States.

El Pollo Loco Holdings

Market Cap: US$297.3m

Through its subsidiary, El Pollo Loco, Inc., develops, franchises, licenses, and operates quick-service restaurants under the El Pollo Loco name.

Waters

Market Cap: US$17.1b

Provides analytical workflow solutions in Asia, the Americas, and Europe.

Lavoro

Market Cap: US$210.8m

Operates as an agricultural inputs retailer.

Moberg Pharma

Market Cap: US$400.0m

A pharmaceutical company, develops and commercializes medical products primarily in Sweden.

Waste Connections

Market Cap: US$44.0b

Provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada.

Pulmonx

Market Cap: US$69.7m

A commercial-stage medical technology company that provides a minimally invasive treatment for patients with severe emphysema, a form of chronic obstructive pulmonary disease.

Hawaiian Electric Industries

Market Cap: US$1.9b

Engages in the electric utility business in the United States.

Mitsubishi

Market Cap: US$13.8t

Engages in the global environment and energy, material solutions, metal resources, social infrastructure, mobility, food industry, SLC, and power solutions businesses in Japan and internationally.