U.S. Undervalued based on future growth

Apollo Global Management

Market Cap: US$80.2b

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

General Motors

Market Cap: US$71.3b

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

Ford Motor

Market Cap: US$51.9b

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

Strategy

Market Cap: US$51.4b

Operates as a bitcoin treasury company in the United States, Europe, the Middle East, Africa, and internationally.

JD.com

Market Cap: US$42.4b

Operates as a supply chain-based technology and service provider in the People’s Republic of China.

AngloGold Ashanti

Market Cap: US$41.6b

Operates as a gold mining company in Africa, Australia, and the Americas.

Kimberly-Clark

Market Cap: US$34.2b

Manufactures and markets personal care products in the United States.

Fifth Third Bancorp

Market Cap: US$30.0b

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$26.5b

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

Steel Dynamics

Market Cap: US$24.1b

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

Citizens Financial Group

Market Cap: US$23.8b

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.

KeyCorp

Market Cap: US$21.0b

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

Super Micro Computer

Market Cap: US$20.7b

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

Principal Financial Group

Market Cap: US$19.2b

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

Bunge Global

Market Cap: US$18.1b

Operates as an agribusiness and food company worldwide.

Li Auto

Market Cap: US$18.0b

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

Aptiv

Market Cap: US$16.5b

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$15.8b

Provides retirement solutions and insurance products in the United States.

Fidelity National Financial

Market Cap: US$15.8b

Provides various insurance products in the United States.

Annaly Capital Management

Market Cap: US$15.6b

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

Kaspi.kz

Market Cap: US$14.6b

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

Ally Financial

Market Cap: US$13.1b

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

Everest Group

Market Cap: US$13.0b

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

Reinsurance Group of America

Market Cap: US$12.7b

Provides reinsurance and financial solutions.

Unum Group

Market Cap: US$12.4b

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

CNA Financial

Market Cap: US$12.0b

An insurance holding company, primarily provides commercial property and casualty insurance products in the United States and internationally.

CNH Industrial

Market Cap: US$11.8b

An equipment and services company, engages in the design, production, marketing, sale, and financing of agricultural and construction equipment in North America, Europe, the Middle East, Africa, South America, and the Asia Pacific.

Invesco

Market Cap: US$11.7b

A publicly owned investment manager.

AGNC Investment

Market Cap: US$11.4b

Provides private capital to housing market in the United States.

Stanley Black & Decker

Market Cap: US$11.2b

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

AES

Market Cap: US$9.9b

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

American Airlines Group

Market Cap: US$9.8b

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

Western Alliance Bancorporation

Market Cap: US$9.3b

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

UMB Financial

Market Cap: US$8.7b

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$8.7b

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

Norwegian Cruise Line Holdings

Market Cap: US$8.6b

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