U.S. Undervalued based on future growth

Apollo Global Management

Market Cap: US$76.8b

A private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets.

General Motors

Market Cap: US$66.3b

Designs, builds, and sells trucks, crossovers, cars, and automobile parts worldwide.

Phillips 66

Market Cap: US$55.6b

Operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally.

Ford Motor

Market Cap: US$52.6b

Develops, delivers, and services Ford trucks, sport utility vehicles, commercial vans and cars, and Lincoln luxury vehicles worldwide.

Fifth Third Bancorp

Market Cap: US$28.3b

Operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States.

Huntington Bancshares

Market Cap: US$24.7b

Operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States.

Super Micro Computer

Market Cap: US$23.7b

Develops and sells server and storage solutions based on modular and open-standard architecture in the United States, Asia, Europe, and internationally.

Citizens Financial Group

Market Cap: US$22.2b

Operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions in the United States.

Steel Dynamics

Market Cap: US$22.2b

Operates as a steel producer and metal recycler in the United States.

Li Auto

Market Cap: US$20.2b

Operates in the energy vehicle market in the People’s Republic of China.

KeyCorp

Market Cap: US$19.8b

Operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States.

Bunge Global

Market Cap: US$18.3b

Operates as an agribusiness and food company worldwide.

Principal Financial Group

Market Cap: US$18.2b

Provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide.

Aptiv

Market Cap: US$18.1b

Engages in design, manufacture, and sale of vehicle components for the automotive and commercial vehicle markets in North America, Europe, the Middle East, Africa, the Asia Pacific, South America, and internationally.

Corebridge Financial

Market Cap: US$15.6b

Provides retirement solutions and insurance products in the United States.

Fidelity National Financial

Market Cap: US$15.5b

Provides various insurance products in the United States.

Annaly Capital Management

Market Cap: US$15.0b

A diversified capital manager, engages in the mortgage finance business.

Everest Group

Market Cap: US$13.7b

Through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

Kaspi.kz

Market Cap: US$13.6b

Provides payments, marketplace, and fintech solutions for consumers and merchants in Kazakhstan, Azerbaijan, and Ukraine.

Unum Group

Market Cap: US$13.1b

Provides financial protection benefit solutions in the United States, the United Kingdom, and Poland.

Reinsurance Group of America

Market Cap: US$12.5b

Provides reinsurance and financial solutions.

Solventum

Market Cap: US$12.4b

A healthcare company, develops, manufactures, and commercializes a portfolio of solutions to address critical customer and patient needs in the United States and internationally.

Ally Financial

Market Cap: US$12.1b

A digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda.

AGNC Investment

Market Cap: US$11.1b

Provides private capital to housing market in the United States.

Exelixis

Market Cap: US$11.0b

An oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States.

Stanley Black & Decker

Market Cap: US$10.6b

Provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia.

Invesco

Market Cap: US$10.4b

A publicly owned investment manager.

AES

Market Cap: US$10.1b

Operates as a power generation and utility company in the United States and internationally.

Ovintiv

Market Cap: US$9.8b

Explores, develops, produces, and markets natural gas, oil, and natural gas liquids in North America.

American Airlines Group

Market Cap: US$9.0b

Through its subsidiaries, operates as a network air carrier in the United States, Latin America, Atlantic, and Pacific.

SouthState Bank

Market Cap: US$8.8b

Operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies in the United States.

Western Alliance Bancorporation

Market Cap: US$8.7b

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

Norwegian Cruise Line Holdings

Market Cap: US$8.7b

Operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally.

Open Text

Market Cap: US$8.6b

Designs, develops, markets, and sells information management software and solutions in North, Central, and South America, Europe, the Middle East, Africa, Australia, Japan, Singapore, India, and China.

UMB Financial

Market Cap: US$8.3b

Operates as the bank holding company that provides banking services and asset servicing in the United States and internationally.

Old National Bancorp

Market Cap: US$8.2b

Operates as the bank holding company for Old National Bank that provides consumer and commercial banking services in the United States.