This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

APA Corp. is the holding company for Apache Corp., an E&P company with operations in the United States, Egypt and the United Kingdom. It holds a majority interest in Altus Midstream, which, through its consolidated subsidiaries, operates gathering, processing and transmission assets in West Texas and holds equity ownership in four Permian-to-Gulf Coast pipelines.

All of the major U.S. stocks indices are lower at midday on Friday, with worries over growing political turmoil in France starting the session with a negative tone. Piling on was an update of consumer sentiment, which showed that ongoing inflation is offsetting an otherwise strong economic environment when consumers contemplate their own situations. Indeed, the latest University of Michigan survey showed that consumer sentiment has hit its lowest level in seven months. On the flipside, the cost of U.S. imported goods fell in May by the largest amount since the end of 2023, suggesting inflation is slowing.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.