Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

China Foods

Market Cap: HK$7.8b

An investment holding company, manufactures, distributes, markets, and sells Coca-Cola series products in the People’s Republic of China.

Carlsberg

Market Cap: US$108.3b

Produces and markets beer and other beverage products in Denmark, China, the United Kingdom, and internationally.

Lenovo Group

Market Cap: €132.0b

An investment holding company, develops, manufactures, and markets technology products and services.

SergeFerrari Group

Market Cap: €69.9m

Designs, develops, manufactures, and markets composite materials for lightweight architectural and outdoor applications in France and internationally.

Sangoma Technologies

Market Cap: US$265.4m

Develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications in the United States of America and internationally.

Luceco

Market Cap: €178.4m

Manufactures and distributes wiring accessories, LED lighting, and portable power products in the United Kingdom, the Americas, Europe, the Middle East, Africa, the Asia Pacific.

CEWE Stiftung KGaA

Market Cap: €662.8m

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

Capgemini

Market Cap: €20.8b

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.

Torex Gold Resources

Market Cap: US$4.3b

Operates as an intermediate gold producer.

Silgan Holdings

Market Cap: US$4.8b

Manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally.

Business First Bancshares

Market Cap: US$744.5m

Operates as the bank holding company for b1BANK that provides various banking products and services in Louisiana and Texas.

Anheuser-Busch InBev

Market Cap: €99.5b

Produces, distributes, exports, markets, and sells beer in North America, Middle Americas, South America, Europe, the Middle East, Africa, and the Asia Pacific.

Cheerwin Group

Market Cap: €3.2b

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.

Intrum

Market Cap: €6.3b

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

LKQ

Market Cap: US$8.2b

Engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories.

GFT Technologies

Market Cap: €445.2m

Provides digital transformation services.

Yalla Group

Market Cap: US$1.2b

Operates a social networking and gaming platform in the Middle East and North Africa region.

Infinity Natural Resources

Market Cap: US$864.4m

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.

Regeneron Pharmaceuticals

Market Cap: €58.5b

Regeneron Pharmaceuticals, Inc. discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide.

Ero Copper

Market Cap: CA$2.1b

Engages in the exploration, development, and production of mining projects in Brazil.

Perrigo

Market Cap: €3.2b

Provides over-the-counter health and wellness solutions in the United States, Europe, and internationally.

Angel Oak Mortgage REIT

Market Cap: US$233.8m

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.

Flowco Holdings

Market Cap: US$1.5b

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

Mattel

Market Cap: €5.9b

A toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.

Origin Enterprises

Market Cap: €412.0m

Provides agronomy services company in Ireland, the United Kingdom, Brazil, Poland, Romania, Latin America, and internationally.

Verallia Société Anonyme

Market Cap: €2.8b

Manufactures and sells glass packaging products for beverages and food products worldwide.

Royalty Pharma

Market Cap: US$21.4b

Operates as a buyer of biopharmaceutical royalties and a funder of innovation in the biopharmaceutical industry in the United States.

TotalEnergies

Market Cap: US$115.1b

A multi-energy company, produces and markets oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables, and electricity in France, rest of Europe, and internationally.

q.beyond

Market Cap: €110.9m

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

Evonik Industries

Market Cap: €7.5b

Produces and sells specialty chemicals in the Asia-Pacific, Europe, the Middle East, Africa, Central and South America, and North America.

Diebold Nixdorf

Market Cap: US$2.2b

Engages in the automating, digitizing, and transforming the way people bank and shop worldwide.

KWS SAAT SE KGaA

Market Cap: €2.1b

KWS SAAT SE & Co. KGaA breeds, produces, and distributes seeds for agriculture.

Ag Growth International

Market Cap: CA$763.7m

Manufactures and distributes equipment for bulk agriculture commodities worldwide.

ACT Energy Technologies

Market Cap: CA$169.3m

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

CTO Realty Growth

Market Cap: €564.3m

A publicly traded real estate investment trust that owns and operates a portfolio of high-quality, retail-based properties located primarily in higher growth markets in the United States.