U.S. Potentially Undervalued Companies

Kesko Oyj

Market Cap: US$7.1b

Engages in the chain operations in Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Denmark, and Poland.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: US$69.8b

Engages in the insurance and reinsurance businesses worldwide.

Alerus Financial

Market Cap: US$577.8m

Operates as the bank holding company for Alerus Financial, National Association that provides various financial services to businesses and consumers in the United States.

Meridian

Market Cap: US$176.7m

Operates as the bank holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Maryland, and Florida.

Civista Bancshares

Market Cap: US$397.7m

Operates as the financial holding company for Civista Bank that provides community banking services in the United States.

Banco do Brasil

Market Cap: US$124.4b

Provides banking products and services for individuals, companies, and public sectors in Brazil and internationally.

Kaltura

Market Cap: US$244.1m

Provides various software-as-a-service (SaaS) products and solutions and a platform-as-a-service (PaaS) in the United States, Europe, the Middle East, Africa, and internationally.

V2X

Market Cap: US$1.7b

Provides critical mission solutions and support services to defense customers worldwide.

Legacy Education

Market Cap: US$152.5m

Provides education services to students, high school graduates, and working parents in the United States.

OneMain Holdings

Market Cap: US$7.0b

A financial service holding company, engages in the consumer finance and insurance businesses in the United States.

AXIS Capital Holdings

Market Cap: US$7.4b

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

WH Group

Market Cap: US$109.3b

An investment holding company, produces and sells packaged meats and pork in China, North America, and Europe.

Jamf Holding

Market Cap: US$1.5b

Provides management and security solutions for Apple platforms in the Americas, Europe, the Middle East, India, Africa, and the Asia Pacific.

thyssenkrupp

Market Cap: US$7.3b

Operates as an industrial and technology company in Germany and internationally.

Merck KGaA

Market Cap: US$46.3b

Operates as a science and technology company in Germany.

Evolution

Market Cap: US$160.2b

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

Apple Hospitality REIT

Market Cap: US$2.8b

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.

Precision Drilling

Market Cap: US$1.1b

A drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in the United States, Canada, and internationally.

Angi

Market Cap: US$738.3m

Angi Inc. connects home professionals with consumers in the United States and internationally.

PagerDuty

Market Cap: US$1.5b

Engages in the operation of a digital operations management platform in the United States and internationally.

Magna International

Market Cap: US$18.3b

Manufactures and supplies vehicle engineering, contract, and automotive space.

Holcim

Market Cap: US$36.3b

Provides building materials and solutions worldwide.

Bangkok Bank

Market Cap: US$282.5b

Provides various commercial banking products and services in Thailand and internationally.

Vtech Holdings

Market Cap: US$15.8b

Designs, manufactures, and distributes electronic products in Hong Kong, North America, Europe, the Asia Pacific, and internationally.

OceanaGold

Market Cap: US$6.5b

A gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand.

Textron

Market Cap: US$14.7b

Operates in the aircraft, defense, industrial, and finance businesses worldwide.

Algoma Steel Group

Market Cap: US$418.7m

Produces and sells steel products in Canada, the United States, and internationally.

Western Alliance Bancorporation

Market Cap: US$9.6b

Operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada.

NovoCure

Market Cap: US$1.4b

An oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, France, Japan, Greater China, and internationally.

Endava

Market Cap: US$478.0m

Provides technology services in North America, Europe, the United Kingdom, and internationally.

J.Jill

Market Cap: US$268.9m

Operates as an omnichannel retailer for women’s apparel in the United States.

Confluent

Market Cap: US$6.6b

Operates a data streaming platform in the United States and internationally.

Life Healthcare Group Holdings

Market Cap: US$16.4b

An investment holding company, operates as a private healthcare company in Southern Africa, the United Kingdom, Europe, the United States, and internationally.

Fresenius Medical Care

Market Cap: US$12.7b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

TrueBlue

Market Cap: US$186.9m

Provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico.