U.S. Undervalued based on future growth

Shift4 Payments

Market Cap: US$5.2b

Engages in the provision of software and payment processing solutions in the United States and internationally.

PennyMac Financial Services

Market Cap: US$5.2b

Through its subsidiaries, engages in the mortgage banking and investment management activities in the United States.

Avnet

Market Cap: US$5.1b

Distributes electronic component technology in the Americas, Europe, the Middle East, Africa, and Asia/Pacific.

Lazard

Market Cap: US$5.1b

Operates as a financial advisory and asset management firm in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Ingram Micro Holding

Market Cap: US$5.0b

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.

Millrose Properties

Market Cap: US$4.9b

Millrose purchases and develops residential land and sells finished homesites to homebuilders by way of option contracts with predetermined costs and takedown schedules.

Victory Capital Holdings

Market Cap: US$4.6b

Operates as an asset management company in the United States and internationally.

Crocs

Market Cap: US$4.4b

Designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under the Crocs and HEYDUDE Brands in the United States and internationally.

Group 1 Automotive

Market Cap: US$4.2b

Through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom.

Inter & Co

Market Cap: US$4.1b

Through its subsidiaries, engages in the banking and spending, investments, insurance brokerage, and inter shop businesses in Brazil and the United States.

Enova International

Market Cap: US$4.1b

A technology and analytics company, provides online financial services in the United States, Brazil, and internationally.

Independent Bank

Market Cap: US$4.0b

Operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States.

Signet Jewelers

Market Cap: US$3.8b

Operates as a diamond jewelry retailer.

Brighthouse Financial

Market Cap: US$3.7b

Provides annuity and life insurance products in the United States.

First Interstate BancSystem

Market Cap: US$3.6b

Operates as the bank holding company for First Interstate Bank that provides a range of banking products and services in the United States.

Renasant

Market Cap: US$3.6b

Operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers.

WesBanco

Market Cap: US$3.4b

Operates as the bank holding company for WesBanco Bank, Inc.

Kontoor Brands

Market Cap: US$3.3b

A lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands.

Avient

Market Cap: US$3.3b

Operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia.

Blackstone Mortgage Trust

Market Cap: US$3.3b

A real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia.

Seacoast Banking Corporation of Florida

Market Cap: US$3.2b

Operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida.

Banc of California

Market Cap: US$3.1b

Operates as the bank holding company for Banc of California that provides various banking products and services.

Euronet Worldwide

Market Cap: US$3.0b

Provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide.

FB Financial

Market Cap: US$3.0b

Operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services.

Grupo Aeroméxico. de

Market Cap: US$2.9b

Through its subsidiaries, provide public air carrier services for passengers and goods.

Crane NXT

Market Cap: US$2.9b

Operates as an industrial technology company that provides technology solutions to secure, detect, and authenticate customers’ important assets.

PVH

Market Cap: US$2.9b

Operates as an apparel company in the United States and internationally.

First Financial Bancorp

Market Cap: US$2.8b

Operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois.

Marex Group

Market Cap: US$2.8b

A financial services platform provider company, provides liquidity, market access, and infrastructure services to clients in the energy, commodities, and financial markets in the United Kingdom, the United States, and internationally.

NCR Atleos

Market Cap: US$2.8b

A financial technology company, provides self-directed banking solutions to financial institutions, merchants, manufacturers, retailers, and consumers in the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

TowneBank

Market Cap: US$2.7b

Provides retail and commercial banking services for individuals, commercial enterprises, and professionals in Virginia and North Carolina.

Customers Bancorp

Market Cap: US$2.7b

Operates as the bank holding company for Customers Bank that provides banking products and services.

CVB Financial

Market Cap: US$2.7b

Operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals.

Star Bulk Carriers

Market Cap: US$2.6b

A shipping company, engages in the ocean transportation of dry bulk cargoes through the ownership and operation of dry bulk carrier vessels worldwide.

Insight Enterprises

Market Cap: US$2.6b

Provides information technology, hardware, software, and services in the United States and internationally.

Bancorp

Market Cap: US$2.5b

Operates as the financial holding company for The Bancorp Bank, National Association that provides banking products and services in the United States.