U.S. Potentially Undervalued Companies

Global Net Lease

Market Cap: US$1.7b

A publicly traded real estate investment trust listed on the NYSE, which focuses on acquiring and managing a global portfolio of income producing net lease assets across the United States, United Kingdom, and Western and Northern Europe.

KBR

Market Cap: US$6.6b

Provides scientific, technology, and engineering solutions to governments and commercial customers worldwide.

Old Second Bancorp

Market Cap: US$739.4m

Operates as the bank holding company for Old Second National Bank that provides community banking services in the United States.

Ensign Energy Services

Market Cap: US$360.5m

Provides oilfield services to the oil and natural gas industries in Canada, the United States, and internationally.

Bitcoin Depot

Market Cap: US$210.0m

Owns and operates a network of bitcoin ATMs in North America.

PDD Holdings

Market Cap: US$169.3b

A multinational commerce group, owns and operates a portfolio of businesses.

Halliburton

Market Cap: US$17.1b

Provides products and services to the energy industry worldwide.

ConocoPhillips

Market Cap: US$107.5b

Explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids.

Nucor

Market Cap: US$25.0b

Engages in the manufacture and sale of steel and steel products.

Humana

Market Cap: US$27.1b

Provides medical and specialty insurance products in the United States.

Rithm Capital

Market Cap: US$5.9b

Operates as an asset manager focused on real estate, credit, and financial services in the United States.

John Wood Group

Market Cap: US$126.8m

Engages in the provision of consulting, project management, and engineering solutions to energy and built environment worldwide.

Norsk Hydro

Market Cap: US$112.0b

Engages in the power production, bauxite extraction, alumina refining, aluminium smelting, and recycling activities worldwide.

A10 Networks

Market Cap: US$1.2b

Provides security and infrastructure solutions in the United States, rest of the Americas, Japan, rest of the Asia Pacific, Europe, the Middle East, and Africa.

Exor

Market Cap: US$18.3b

Engages in the automotive, agriculture and construction, sports car, commercial vehicle, and powertrain businesses worldwide.

HNI

Market Cap: US$2.1b

Engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada.

Ardmore Shipping

Market Cap: US$396.9m

Engages in the seaborne transportation of petroleum products and chemicals worldwide.

Ingram Micro Holding

Market Cap: US$4.6b

Through its subsidiaries, distributes information technology products, cloud, and other services in North America, Europe, the Middle East, Africa, the Asia-Pacific, Latin America, and internationally.

Mercer International

Market Cap: US$238.7m

Manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp in the United States, Germany, China, and internationally.

Chicago Atlantic Real Estate Finance

Market Cap: US$304.0m

Chicago Atlantic Real Estate Finance, Inc.

Valeura Energy

Market Cap: US$802.4m

Engages in the exploration, development, and production of petroleum and natural gas in Thailand and in Turkey.

Suncor Energy

Market Cap: US$60.5b

Operates as an integrated energy company in Canada, the United States, and internationally.

Six Flags Entertainment

Market Cap: US$3.5b

Operates amusement parks and resort properties in North America.

Bath & Body Works

Market Cap: US$6.4b

Operates as a specialty retailer of home fragrance, personal and body care, soaps, and sanitizer products.

BeiGene

Market Cap: US$28.6b

An oncology company, engages in discovering and developing various treatments for cancer patients in the United States, China, Europe, and internationally.

DENSO

Market Cap: US$5.3t

Engages in the manufacture and sale of automotive parts in Japan, rest of Asia, North America, Europe, and internationally.

CMOC Group

Market Cap: US$161.6b

Engages in the mining, beneficiation, smelting, and refining of base and rare metals.

Kemper

Market Cap: US$4.0b

An insurance holding company, provides insurance products in the United States.

Dream Industrial Real Estate Investment Trust

Market Cap: US$3.1b

Dream Industrial REIT is an owner, manager and operator of a global portfolio of well-located, diversified industrial properties.

Lenovo Group

Market Cap: US$115.7b

An investment holding company, develops, manufactures, and markets technology products and services.

AIA Group

Market Cap: US$690.4b

Provides life insurance based financial services in Hong Kong.

Inspired Entertainment

Market Cap: US$203.5m

A gaming technology company, supplies content, platform, and other products and services to online and land-based regulated lottery, betting, and gaming operators in the United Kingdom, Greece, and internationally.

PHX Energy Services

Market Cap: US$370.4m

Provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally.

ANI Pharmaceuticals

Market Cap: US$1.2b

A biopharmaceutical company, develops, manufactures, and markets branded and generic pharmaceutical products in the United States and internationally.

NN

Market Cap: US$97.4m

Designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States, China, Brazil, Mexico, Germany, Poland, and internationally.

Academy Sports and Outdoors

Market Cap: US$2.7b

Through its subsidiaries, operates as a sporting goods and outdoor recreational retailer in the United States.