Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

MERLIN Properties SOCIMI

Market Cap: €7.0b

MERLIN Properties SOCIMI, S.A. (MC:MRL) is the largest real estate and infrastructure company trading on the Spanish Stock Exchange.

BFF Bank

Market Cap: €1.6b

Engages in non-recourse factoring and credit management activities towards public administration bodies and private hospitals in Italy, Croatia, the Czech Republic, France, Greece, Poland, Portugal, Slovakia, and Spain.

Carnival Corporation &

Market Cap: €37.4b

A cruise company, provides leisure travel services in North America, Australia, Europe, and internationally.

Chorus Aviation

Market Cap: CA$550.6m

Through its subsidiaries, provides aviation services.

M.P. Evans Group

Market Cap: €683.7m

Through its subsidiaries, owns and develops oil palm plantations in Indonesia and Malaysia.

CSL

Market Cap: US$86.6b

Engages in the research, development, manufacture, market, and distribution of biopharmaceutical products and vaccines in Australia, the United States, Germany, the United Kingdom, Switzerland, China, Hong Kong, and internationally.

ANTA Sports Products

Market Cap: €215.5b

Engages in the research, design, development, manufacture, market, and sale of professional sports footwear, apparel, and accessories in China and internationally.

Arnoldo Mondadori Editore

Market Cap: €547.7m

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

Cardlytics

Market Cap: US$64.9m

Operates an advertising platform in the United States and the United Kingdom.

American Integrity Insurance Group

Market Cap: €375.5m

Operates as an insurance company.

Blue Bird

Market Cap: US$1.6b

Designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally.

MONY Group

Market Cap: UK£990.9m

Engages in the provision of price comparison and lead generation services through its websites and applications in the United Kingdom.

TAKKT

Market Cap: €239.1m

Operates as a B2B direct marketing company for business equipment in Europe and North America.

Capgemini

Market Cap: €23.0b

Provides consulting, digital transformation, technology, and engineering services primarily in North America, France, the United Kingdom, Ireland, the rest of Europe, the Asia-Pacific, and Latin America.

Greentown China Holdings

Market Cap: €24.6b

Engages in the development for sale of residential properties in the People’s Republic of China.

Ernst Russ

Market Cap: €258.1m

A publicly owned investment manager.

ABM Industries

Market Cap: US$2.8b

Through its subsidiaries, engages in the provision of facility maintenance, engineering and infrastructure solutions in the United States and internationally.

Semapa - Sociedade de Investimento e Gestão SGPS

Market Cap: €1.7b

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.

China Construction Bank

Market Cap: US$2.0t

Engages in the provision of various banking and related financial services to individuals and corporate customers in the People's Republic of China and internationally.

Flowco Holdings

Market Cap: US$1.9b

Through its subsidiaries, provides production optimization, artificial lift, and methane abatement solutions for the oil and natural gas industry in the United States.

Prosegur Cash

Market Cap: €927.3m

Provides integrated cash cycle management solutions and automating payments in retail establishments and ATM management for financial institutions, retail establishments, business, government agencies, central banks, mints, and jewellery stores in Europe, LATAM, and internationally.

PTC

Market Cap: US$19.6b

Operates as software company in the Americas, Europe, and the Asia Pacific.

Euroseas

Market Cap: US$376.7m

Provides ocean-going transportation services worldwide.

ACT Energy Technologies

Market Cap: CA$199.7m

Provides directional drilling services to oil and natural gas exploration and development companies in Canada and the United States.

Asahi Group Holdings

Market Cap: €2.4t

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

Slide Insurance Holdings

Market Cap: US$2.0b

Engages in underwriting single family and condominium policies in the property and casualty industry in the United States.

Global Dominion Access

Market Cap: €496.4m

Provides integral services for business process efficiency and sustainability worldwide.

Cheniere Energy

Market Cap: €44.5b

An energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States.

Capgemini

Market Cap: €23.0b

Provides consulting, digital transformation, technology, and engineering services primarily in North America, France, the United Kingdom, Ireland, the rest of Europe, the Asia-Pacific, and Latin America.

América Móvil. de

Market Cap: Mex$1.1t

Provides telecommunications services in Latin America 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.

Globe Life

Market Cap: US$11.0b

Through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States.

Enovis

Market Cap: US$1.3b

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

Sanofi

Market Cap: €95.9b

Engages in the research, development, manufacture, and marketing of therapeutic solutions.

Hafnia

Market Cap: US$28.3b

Owns and operates oil product tankers in Bermuda.