German Potentially Undervalued Companies

Leifheit

Market Cap: €139.7m

Develops and distributes household products in Germany, Central and Eastern Europe, and internationally.

argenx

Market Cap: €39.4b

A commercial-stage biopharma company, develops various therapies for the treatment of autoimmune diseases in the United States, Japan, China, the Netherlands, and internationally.

Yihai International Holding

Market Cap: €13.0b

Produces and sells hot pot condiment, compound condiment, and ready-to-eat food products in the People’s Republic of China and internationally.

Scentre Group

Market Cap: €21.9b

Owns and operates 42 Westfield destinations with 37 located in Australia and five in New Zealand.

Ionis Pharmaceuticals

Market Cap: €10.1b

A commercial-stage biotechnology company, provides RNA-targeted medicines in the United States.

Nynomic

Market Cap: €68.3m

Manufactures and sells products for the spectroscopy, sensor technology, laboratory automation and medical technology, agriculture and environmental technology, and industrial markets worldwide.

Northern Data

Market Cap: €1.2b

Develops and operates high-performance computing (HPC) and artificial intelligence (AI) solutions in Europe and North America.

PAX Global Technology

Market Cap: €6.5b

An investment holding company, develops and sells electronic funds transfer point-of-sale products in Hong Kong, the People’s Republic of China, the United States, and Italy.

Tripadvisor

Market Cap: €2.1b

TripAdvisor, Inc., an online travel company, engages in the provision of travel guidance products and services worldwide.

Citigroup

Market Cap: €183.1b

A diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions.

Guangzhou R&F Properties

Market Cap: €2.8b

Develops and sells residential and commercial properties in the People’s Republic of China, Malaysia, Australia, the United Kingdom, Cambodia, and South Korea.

JBG SMITH Properties

Market Cap: €1.8b

JBG SMITH owns, operates and develops mixed-use properties concentrated in amenity-rich, Metro-served submarkets in and around Washington, DC, most notably National Landing, that we believe have long-term growth potential and appeal to residential, office and retail tenants.

Blackbaud

Market Cap: €3.3b

Engages in the provision of cloud software and services in the United States and internationally.

Centuria Office REIT

Market Cap: €758.6m

COF is Australia’s largest ASX listed pure play office REIT and is included in the S&P/ASX300 Index.

Baikowski

Market Cap: €70.1m

Produces and sells specialty chemicals in France, rest of Europe, the Americas, Asia, and internationally.

Witted Megacorp Oyj

Market Cap: €22.7m

Operates as a software development company in Finland, Norway, and Sweden.

Forestar Group

Market Cap: €1.4b

Operates as a residential lot development company in the United States.

SIG

Market Cap: €108.5m

Supplies specialist insulation and sustainable construction products and solutions in the United Kingdom, Germany, France, Benelux, Poland, and Ireland.

Genscript Biotech

Market Cap: €38.0b

An investment holding company, engages in the manufacture and sale of life science research products and services in the United States of America, Europe, Mainland China, Europe, Asia Pacific, and internationally.

Savannah Resources

Market Cap: €103.9m

Engages in the exploration and development of lithium properties.

Euroapi

Market Cap: €295.0m

Develops, manufactures, markets, and distributes active pharmaceutical ingredients and intermediates used in the formulation of medicines for human and veterinary use in France, Europe, Rest of Europe, North America, the Asia Pacific, and internationally.

Simcere Pharmaceutical Group

Market Cap: €36.2b

An investment holding company, engages in the research, development, manufacture, and sale of pharmaceutical products to distributors, pharmacy chains, and other pharmaceutical manufacturers in China.

WildBrain

Market Cap: €416.3m

Engages in the development, production, and distribution of films and television programs in Canada, the United States, the United Kingdom, and internationally.

Sixt

Market Cap: €3.6b

Through its subsidiaries, provides mobility services through corporate and franchise branch network for private and business customers.

Veolia Environnement

Market Cap: €20.9b

Designs and provides water, waste, and energy management solutions.

Cresud Sociedad Anónima Comercial Inmobiliaria Financiera y Agropecuaria

Market Cap: €762.0b

An agricultural company, engages in the production of agricultural commodities in Brazil and other Latin American countries.

Enity Holding

Market Cap: €4.5b

Engages in providing mortgage services to individuals and communities in Sweden, Norway, and Finland.

Cisco Systems

Market Cap: €263.0b

Designs, developes, and sells technologies that help to power, secure, and draw insights from the internet in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China.

NÜRNBERGER Beteiligungs-AG

Market Cap: €730.4m

Operates as an insurance company in Germany.

IntegraFin Holdings

Market Cap: €1.1b

Provides software and services for clients and UK financial advisers in the United Kingdom and Isle of Man.

CSPC Pharmaceutical Group

Market Cap: €118.3b

An investment holding company, engages in the manufacture and sale of pharmaceutical products in Mainland China, other Asian regions, Europe, North America, and internationally.

BayWa

Market Cap: €714.5m

Provides wholesale, retail, logistics, and support and consultancy services in Germany and internationally.

Contango Ore

Market Cap: €271.4m

An exploration stage company, engages in the exploration and development of mineral properties in Alaska, the United States.

Citizens Financial Group

Market Cap: €22.4b

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.

Beazer Homes USA

Market Cap: €762.8m

Operates as a homebuilder in the United States.

Tyson Foods

Market Cap: €19.6b

Operates as a food company worldwide.