Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

Spectrum Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes oncology drug products.

Valeura Energy

Market Cap: €1.2b

Engages in the exploration, development, and production of petroleum and natural gas in Thailand and in Turkey.

Tongcheng Travel Holdings

Market Cap: €48.6b

An investment holding company, provides travel related services in the People’s Republic of China.

Intrum

Market Cap: €5.1b

Provides payment solutions, and credit and collection services in Europe and internationally.

Arnoldo Mondadori Editore

Market Cap: €524.3m

Engages in publishing of books and magazines in Italy, rest of Europe, and the United States.

Semapa - Sociedade de Investimento e Gestão SGPS

Market Cap: €1.9b

Through its subsidiaries, produces and sells pulp, printing and writing papers, and tissues in Portugal, the rest of Europe, the United States, Africa, Asia, and Oceania.

MINISO Group Holding

Market Cap: €5.9b

An investment holding company, engages in the retail and wholesale of design-led lifestyle and pop toy products in Mainland China, the rest of Asia, North and Latin America, Europe, and internationally.

Grand Pharmaceutical Group

Market Cap: €27.6b

An investment holding company, engages in the research and development, manufacture, and sale of pharmaceutical preparations and medical devices, biotechnology and healthcare products, and pharmaceutical raw materials.

Indofood Sukses Makmur

Market Cap: €57.7t

Operates as a food solutions company in Indonesia, the Middle East, Africa, the rest of Asia, and internationally.

Jumbo Interactive

Market Cap: €627.0m

Engages in the retail of lottery tickets through the internet and mobile devices in Australia, the United Kingdom, Canada, Fiji, and internationally.

Enovis

Market Cap: €1.3b

Operates as a medical technology company focus on developing clinically differentiated solutions in the United States and internationally.

TF1

Market Cap: €1.5b

Operates as a media and entertainment company, primarily engages in television broadcasting, content creation, and distribution of audiovisual rights in France, Continental Europe, and internationally.

Amadeus IT Group

Market Cap: €21.4b

Operates as a transaction processor for the travel and tourism industry in Spain, Germany, rest of Europe, the Middle East, Africa, Asia and the Pacific, the United States of America, and rest of America.

Pearson

Market Cap: €6.0b

Provides educational courseware, assessments, and services in the United Kingdom, the United States, Canada, the Asia Pacific, other European countries, and internationally.

Cheerwin Group

Market Cap: €3.1b

An investment holding company, manufactures and trades household insecticides and repellents, household cleaning, air care, personal care, pet stores and pet products, and other products in the People’s Republic of China.

Lithia Motors

Market Cap: €6.9b

Operates as an automotive retailer in the United States, the United Kingdom, and Canada.

Science Applications International

Market Cap: €4.0b

Provides technical, engineering, and enterprise information technology (IT) services in the United States.

Asahi Group Holdings

Market Cap: €2.5t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

PENN Entertainment

Market Cap: €1.7b

Provides integrated entertainment, sports content, and casino gaming experiences.

CEWE Stiftung KGaA

Market Cap: €686.7m

Operates as a photo service and online printing provider in Germany and internationally.

Bank7

Market Cap: €398.7m

Operates as a bank holding company for Bank7 that provides banking and financial services to individual and corporate customers.

China Tower

Market Cap: €196.5b

Provides telecommunication tower infrastructure services in the People's Republic of China.

q.beyond

Market Cap: €100.7m

Engages in the cloud, applications, artificial intelligence (AI), and security business in Germany and internationally.

Hoenle

Market Cap: €60.3m

Develops, manufactures, and distributes industrial UV technologies and systems in Germany and internationally.

Ernst Russ

Market Cap: €248.6m

A publicly owned investment manager.

Karnov Group

Market Cap: €7.7b

Provides online and offline information products and services for professionals in the areas of legal, tax and accounting, environmental, and health and safety in Denmark, Norway, France, Sweden, Portugal, and Spain.

Corebridge Financial

Market Cap: €13.3b

Provides retirement solutions and insurance products in the United States.

Grupa Pracuj

Market Cap: €3.0b

Operates HR technology platform in Poland, Ukraine, and Germany.

McBride

Market Cap: €269.8m

Manufactures and sells private label household and personal care products to retailers and brand owners in the United Kingdom, Germany, France, Italy, Spain, rest of Europe, the Asia-Pacific, and internationally.

Bertrandt

Market Cap: €202.1m

Provides engineering services.

American Integrity Insurance Group

Market Cap: €356.1m

Operates as an insurance company.

Brinker International

Market Cap: €6.1b

Owns, develops, operates, and franchises casual dining restaurants in the United States and internationally.

Infinity Natural Resources

Market Cap: US$980.1m

Engages in the acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs in the United States.

Resolute Mining

Market Cap: US$3.1b

Engages in mining, prospecting, and exploration of mineral properties in Africa.

Construtora Tenda

Market Cap: R$3.8b

Operates as a construction company in Brazil.

Angel Oak Mortgage REIT

Market Cap: US$207.8m

A real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market.