Global Undervalued based on future growth

Kaspi.kz

Market Cap: US$17.0b

Provides payments, marketplace, and fintech solutions for consumers and merchants in Kazakhstan, Azerbaijan, and Ukraine.

Principal Financial Group

Market Cap: US$17.0b

Provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide.

Emaar Development PJSC

Market Cap: د.إ61.8b

Develops and sells residential and commercial build-to-sell properties in the United Arab Emirates.

Bank of Hangzhou

Market Cap: CN¥118.6b

Provides various banking products and services to individuals, corporate, and small and micro businesses in China.

Tourmaline Oil

Market Cap: CA$22.4b

Engages in the acquisition, exploration, development, and production of petroleum and natural gas properties in the Western Canadian Sedimentary Basin.

Wens Foodstuff Group

Market Cap: CN¥116.6b

Operates as a livestock and poultry farming company in China.

Ningxia Baofeng Energy Group

Market Cap: CN¥115.4b

Produces, processes, and sells coal mining, washing, coking, coal tar, crude benzene, C4 deep-processed, methanol, and olefin products.

Fidelity National Financial

Market Cap: US$16.0b

Provides various insurance products in the United States.

Turkiye Garanti Bankasi

Market Cap: ₺628.3b

Provides various banking products and services in Turkey.

Unibail-Rodamco-Westfield

Market Cap: €13.0b

Unibail-Rodamco-Westfield is an owner, developer and operator of sustainable, high-quality real estate assets in the most dynamic cities in Europe and the United States.

Hengli PetrochemicalLtd

Market Cap: CN¥107.3b

Engages in petrochemical industry in China and internationally.

Huaneng Power International

Market Cap: HK$116.9b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China and internationally.

Aptiv

Market Cap: US$14.1b

Engages in design, manufacture, and sale of vehicle components for the automotive and commercial vehicle markets in North America, Europe, the Middle East, Africa, the Asia Pacific, South America, and internationally.

YPF Sociedad Anónima

Market Cap: AR$18.5t

An energy company, engages in the oil and gas upstream and downstream activities in Argentina.

XCMG Construction Machinery

Market Cap: CN¥99.1b

Engages in the manufacture and sale of construction machinery in China.

Everest Group

Market Cap: US$13.8b

Through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

Annaly Capital Management

Market Cap: US$13.3b

A diversified capital manager, engages in the mortgage finance business.

Woori Financial Group

Market Cap: ₩18.4t

Operates as a commercial bank which provides various financial services to individual, business, and institutional customers in Korea.

SK Square

Market Cap: ₩18.3t

Invests in semiconductor, and information and communication technologies in South Korea, China, Asia, the United States, and Europe.

LATAM Airlines Group

Market Cap: CL$12.5t

Provides passenger and cargo air transportation services in Chile, Argentina, Peru, Colombia, Ecuador, Brazil, the United States, other Latin American countries, the Caribbean, Europe, and Oceania.

Centene

Market Cap: US$12.7b

Operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, and commercial organizations in the United States.

CNA Financial

Market Cap: US$12.6b

An insurance holding company, primarily provides commercial property and casualty insurance products in the United States and internationally.

Mr. Cooper Group

Market Cap: US$12.1b

Operates as a non-bank servicer of residential mortgage loans in the United States.

Reinsurance Group of America

Market Cap: US$12.1b

Provides reinsurance and financial solutions.

TCL Technology Group

Market Cap: CN¥86.6b

Engages in the semiconductors business worldwide.

Owens Corning

Market Cap: US$12.0b

Provides residential and commercial building products in the United States, Europe, the Asia Pacific, and internationally.

Stifel Financial

Market Cap: US$11.5b

Operates as the bank holding company for Stifel, Nicolaus & Company, Incorporated that provides retail and institutional wealth management, and investment banking services to individual investors, corporations, municipalities, and institutions in the United States and internationally.

Norwegian Cruise Line Holdings

Market Cap: US$11.3b

Operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally.

Bank of Chengdu

Market Cap: CN¥78.9b

Provides various commercial banking products and services in China.

BYD Electronic (International)

Market Cap: HK$85.2b

An investment holding company, primarily engages in the design, manufacture, assembly, and sale of mobile handset components, modules, and other products in the People’s Republic of China and internationally.

Stanley Black & Decker

Market Cap: US$10.7b

Provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫277.3t

Provides various banking products and services for individuals, corporate customers, and financial institutions in Vietnam.

Türkiye Is Bankasi

Market Cap: ₺424.0b

Provides various banking products and services in Turkey.

Sociedad Química y Minera de Chile

Market Cap: US$10.3b

Operates as a mining company worldwide.

Ovintiv

Market Cap: US$10.3b

Explores, develops, produces, and markets natural gas, oil, and natural gas liquids in North America.

Vietnam Technological and Commercial Bank

Market Cap: ₫269.9t

Provides personal and corporate banking products and services in Vietnam and internationally.