Global High Return On Equity, Low Debt

Microsoft

Market Cap: US$3.7t

Develops and supports software, services, devices and solutions worldwide.

Alphabet

Market Cap: US$2.2t

Offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America.

Meta Platforms

Market Cap: US$1.8t

Engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality and mixed reality headsets, augmented reality, and wearables worldwide.

Netflix

Market Cap: US$532.2b

Provides entertainment services.

ASML Holding

Market Cap: €266.1b

Provides lithography solutions for the development, production, marketing, sales, upgrading, and servicing of advanced semiconductor equipment systems.

Kweichow Moutai

Market Cap: CN¥1.8t

Produces and sells liquor products in China and internationally.

Novartis

Market Cap: CHF 188.5b

Engages in the research, development, manufacture, distribution, marketing, and sale of pharmaceutical medicines in Switzerland and internationally.

Merck

Market Cap: US$211.0b

Operates as a healthcare company worldwide.

QUALCOMM

Market Cap: US$174.9b

Engages in the development and commercialization of foundational technologies for the wireless industry worldwide.

Applied Materials

Market Cap: US$158.9b

Engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries.

Industria de Diseño Textil

Market Cap: €135.2b

Engages in the retail and online distribution of clothing, footwear, accessories, and household products in Spain, rest of Europe, the Americas, Asia, and internationally.

PDD Holdings

Market Cap: US$149.0b

A multinational commerce group that owns and operates a portfolio of businesses.

SK hynix

Market Cap: ₩203.3t

Engages in the manufacture, distribution, and sale of semiconductor products in Korea, China, rest of Asia, the United States, and Europe.

Progressive

Market Cap: US$146.2b

Operates as an insurance company in the United States.

Delta

Market Cap: US$17.3b

Manufactures and distributes cold beverages in Zimbabwe.

Lam Research

Market Cap: US$129.3b

Designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits.

Trane Technologies

Market Cap: US$96.9b

Designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, and custom and transport refrigeration.

Ferrari

Market Cap: €75.1b

Through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide.

Cintas

Market Cap: US$87.4b

Engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America.

Airbnb

Market Cap: US$84.6b

Operates a platform that enables hosts to offer stays and experiences to guests worldwide.

Southern Copper

Market Cap: US$82.2b

Engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile.

Chipotle Mexican Grill

Market Cap: US$76.0b

Owns and operates Chipotle Mexican Grill restaurants.

Life Insurance Corporation of India

Market Cap: ₹5.8t

Provides life insurance products in India, Fiji, Mauritius, and the United Kingdom.

Autodesk

Market Cap: US$61.2b

Provides 3D design, engineering, and entertainment technology solutions worldwide.

Universal Music Group

Market Cap: €48.9b

Operates as a music company worldwide.

Advantest

Market Cap: JP¥8.3t

Manufactures and sells semiconductors, component test system products, and mechatronics related products in Japan, the Americas, Europe, and Asia.

Nongfu Spring

Market Cap: HK$439.7b

Produces and sells packaged drinking water and beverage products primarily in Mainland China.

Fastenal

Market Cap: US$50.0b

Engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, and internationally.

Pop Mart International Group

Market Cap: HK$338.1b

An investment holding company, engages in the design, development, and sale of pop toys in the People’s Republic of China, Hong Kong, Macao, Taiwan, and internationally.

Ross Stores

Market Cap: US$42.8b

Operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brands in the United States.

Bayan Resources

Market Cap: Rp645.8t

Engages in the coal mining and sale in Indonesia.

Partners Group Holding

Market Cap: CHF 27.3b

A private equity firm specializing in direct, secondary, and primary investments across private equity, private real estate, private infrastructure, and private debt.

KONE Oyj

Market Cap: €28.8b

Engages in the elevator and escalator business worldwide.

Tractor Supply

Market Cap: US$30.5b

Operates as a rural lifestyle retailer in the United States.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥216.5b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

lululemon athletica

Market Cap: US$28.5b

Designs, distributes, and retails technical athletic apparel, footwear, and accessories for women and men under the lululemon brand in the United States, Canada, Mexico, China Mainland, Hong Kong, Taiwan, Macau, and internationally.