Global Undervalued based on future growth

Everest Group

Market Cap: US$17.0b

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

China International Capital

Market Cap: HK$130.4b

Provides financial services in Mainland China and internationally.

Kaspi.kz

Market Cap: US$16.8b

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

Citizens Financial Group

Market Cap: US$16.4b

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.

Traton

Market Cap: €14.0b

Manufactures and sells commercial vehicles in Germany, rest of Europe, the United States of America, rest of North America, Brazil, rest of South America, and internationally.

Continental

Market Cap: €14.0b

A technology company, provides solutions for vehicles, machines, traffic, and transportation worldwide.

Bank of Nanjing

Market Cap: CN¥115.4b

Provides various financial products and services in China.

Ningxia Baofeng Energy Group

Market Cap: CN¥114.8b

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

First Solar

Market Cap: US$14.6b

A solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.

XCMG Construction Machinery

Market Cap: CN¥106.4b

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

Renault

Market Cap: €12.8b

Engages in the design, manufacture, sale, repair, maintenance, and leasing of motor vehicles in Europe, Eurasia, Africa, the Middle East, the Asia Pacific, and the Americas.

POSCO Holdings

Market Cap: ₩20.4t

Operates as an integrated steel producer in Korea and internationally.

Huaneng Power International

Market Cap: HK$106.6b

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

Emaar Development PJSC

Market Cap: د.إ49.6b

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

HD Korea Shipbuilding & Offshore Engineering

Market Cap: ₩18.8t

HD Korea Shipbuilding & Offshore Engineering Co., Ltd.

REC

Market Cap: ₹1.1t

Engages in the provision of financing services for power generation, transmission, and distribution projects in India.

Zhongji Innolight

Market Cap: CN¥94.2b

Researches, develops, produces, and sells optical communication transceiver modules and optical devices in China.

Genmab

Market Cap: DKK 83.9b

A biotechnology company, develops antibody-based products and product candidates for the treatment of cancer and other diseases in Denmark.

Bank of Hangzhou

Market Cap: CN¥92.6b

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

Owens Corning

Market Cap: US$12.3b

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

Power Construction Corporation of China

Market Cap: CN¥83.0b

Offers engineering contracting services in the People's Republic of China and internationally.

Annaly Capital Management

Market Cap: US$11.3b

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

Korea Electric Power

Market Cap: ₩16.2t

An integrated electric utility company, engages in the generation, transmission, and distribution of electricity in South Korea and internationally.

Turkiye Garanti Bankasi

Market Cap: ₺430.9b

Provides various banking products and services in Turkey.

China Energy Engineering

Market Cap: HK$86.6b

Provides solutions and services in energy power and infrastructure sectors in the People’s Republic of China and internationally.

Liberty Broadband

Market Cap: US$11.1b

Engages in a range of communications businesses in the United States.

China Zheshang Bank

Market Cap: HK$84.5b

Provides various commercial banking products and services in Mainland China.

Jindal Steel & Power

Market Cap: ₹909.7b

Operates in the steel, mining, and infrastructure sectors in India and internationally.

Avantor

Market Cap: US$10.6b

Engages in the provision of mission-critical products and services to customers in the biopharma, healthcare, education and government, advanced technologies, and applied materials industries in the Americas, Europe, Asia, the Middle East, and Africa.

Enel Américas

Market Cap: CL$9.9t

Generates, transmits, and distributes electricity in Brazil, Colombia, Central America, Argentina, and Peru.

TCL Technology Group

Market Cap: CN¥74.8b

Engages in the semiconductors business worldwide.

Ally Financial

Market Cap: US$10.2b

A digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda.

Bank of Chengdu

Market Cap: CN¥73.8b

Provides various commercial banking products and services in China.

Carrefour

Market Cap: €8.9b

Operates as a food retailer in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, and Asia.

BYD Electronic (International)

Market Cap: HK$78.3b

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.

Jefferies Financial Group

Market Cap: US$9.6b

Operates as an investment banking and capital markets firm in the Americas, Europe, the Middle East, and the Asia-Pacific.