U.S. Undervalued based on future growth

Micron Technology

Market Cap: US$117.4b

Designs, develops, manufactures, and sells memory and storage products in the United States, Taiwan, Singapore, Japan, Malaysia, China, India, and internationally.

Ford Motor

Market Cap: US$44.0b

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

Nucor

Market Cap: US$33.0b

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

Hewlett Packard Enterprise

Market Cap: US$26.0b

Provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan.

Citizens Financial Group

Market Cap: US$20.7b

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.

Corebridge Financial

Market Cap: US$19.5b

Provides retirement solutions and insurance products in the United States.

Steel Dynamics

Market Cap: US$18.9b

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

First Solar

Market Cap: US$18.7b

A solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.

LyondellBasell Industries

Market Cap: US$18.6b

Operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally.

Principal Financial Group

Market Cap: US$17.4b

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

CNH Industrial

Market Cap: US$16.2b

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.

Fidelity National Financial

Market Cap: US$15.5b

Provides various insurance products in the United States.

Equitable Holdings

Market Cap: US$15.5b

Together with its consolidated subsidiaries, operates as a diversified financial services company worldwide.

Kaspi.kz

Market Cap: US$15.1b

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

Aptiv

Market Cap: US$14.9b

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.

Everest Group

Market Cap: US$14.1b

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

Annaly Capital Management

Market Cap: US$13.1b

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

Centene

Market Cap: US$12.8b

Operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, and commercial organizations in the United States.

Reinsurance Group of America

Market Cap: US$12.7b

Provides reinsurance and financial solutions.

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.

Owens Corning

Market Cap: US$11.9b

Provides residential and commercial building products in the United States, Europe, the Asia Pacific, and internationally.

Stifel Financial

Market Cap: US$11.7b

Operates as the bank holding company for Stifel, Nicolaus & Company, Incorporated that provides retail and institutional wealth management, and investment banking services to individual investors, corporations, municipalities, and institutions in the United States and internationally.

Norwegian Cruise Line Holdings

Market Cap: US$11.4b

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

Ovintiv

Market Cap: US$10.6b

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

Sociedad Química y Minera de Chile

Market Cap: US$10.5b

Operates as a mining company worldwide.

Stanley Black & Decker

Market Cap: US$10.5b

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

Westlake

Market Cap: US$10.2b

Manufactures and markets performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, and internationally.

Mr. Cooper Group

Market Cap: US$10.0b

Operates as a non-bank servicer of residential mortgage loans in the United States.

AGNC Investment

Market Cap: US$9.8b

Provides private capital to housing market in the United States.

SouthState

Market Cap: US$9.6b

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.

AES

Market Cap: US$9.4b

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

Fluor

Market Cap: US$9.3b

Provides engineering, procurement, and construction (EPC); fabrication and modularization; and project management services worldwide.

Avantor

Market Cap: US$9.2b

Engages in the provision of mission-critical products and services to customers in the biopharma, healthcare, education and government, advanced technologies, and applied materials industries in the Americas, Europe, Asia, the Middle East, and Africa.

Hess Midstream

Market Cap: US$9.1b

Owns, operates, develops, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States.

Molina Healthcare

Market Cap: US$8.6b

Provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces.

Western Alliance Bancorporation

Market Cap: US$8.5b

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