Global Undervalued based on future growth

Concentrix

Market Cap: US$3.5b

Designs, builds, and runs integrated customer experience (CX) solutions worldwide.

Hercules Capital

Market Cap: US$3.4b

A business development company.

First Interstate BancSystem

Market Cap: US$3.4b

Operates as the bank holding company for First Interstate Bank that provides a range of banking products and services in the United States.

Terex

Market Cap: US$3.4b

Provides materials processing machinery and mobile elevating work platform worldwide.

Aspen Insurance Holdings

Market Cap: US$3.4b

Engages in the insurance and reinsurance businesses in Australia, Asia, the United Kingdom, Ireland, rest of Europe, the United States, Canada, and internationally.

BNK Financial Group

Market Cap: ₩4.7t

Provides various financial products and services in South Korea and internationally.

Hankook Tire & Technology

Market Cap: ₩4.7t

Manufactures and sells tires in South Korea and internationally.

LG Innotek

Market Cap: ₩4.7t

Engages in the manufacture and sale of electronic materials and components for mobile, display, semiconductor, automobile, and Internet of Things (IoT) fields in South Korea and internationally.

LS

Market Cap: ₩4.7t

Engages in electric power, automation, machinery, materials, and energy businesses in South Korea and internationally.

Verallia Société Anonyme

Market Cap: €2.8b

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

Jiangsu Changshu Rural Commercial Bank

Market Cap: CN¥23.6b

Jiangsu Changshu Rural Commercial Bank Co., Ltd.

Aux Electric

Market Cap: HK$25.7b

Engages in the manufacturing, sales, and marketing of air conditioners.

TBC Bank Group

Market Cap: UK£2.4b

Through its subsidiaries, provides banking, leasing, insurance, brokerage, and card processing services to corporate and individual customers in Georgia, Azerbaijan, and Uzbekistan.

Solvay

Market Cap: €2.8b

Provides basic and performance chemicals worldwide.

Legend Holdings

Market Cap: HK$25.5b

Legend Holdings Corporation, along with its subsidiaries, operates in the industrial operations and industrial incubations and investments sectors in the People’s Republic of China and internationally.

El Sewedy Electric

Market Cap: ج.م157.3b

Provides integrated infrastructure solutions in Egypt and internationally.

Micro-Star International

Market Cap: NT$98.8b

Engages in the manufacture and sale of motherboards, interface cards, notebook computers, and other electronic products in Asia, Europe, the United States, and internationally.

TCL Electronics Holdings

Market Cap: HK$25.3b

An investment holding company, operates as a consumer electronics company in Mainland China, Europe, North America, and internationally.

Acerinox

Market Cap: €2.8b

Manufactures, process, and markets stainless steel products in Spain, the United States, Africa, Asia, Rest of Europe, and internationally.

Valeo

Market Cap: €2.7b

A technology company, designs, produces, and sells products and systems for the automotive markets in France, other European countries, Africa, North America, South America, and Asia.

Chagee Holdings

Market Cap: US$3.2b

Through its subsidiaries, owns, operates, and franchises teahouses under the CHAGEE brand name in the People’s Republic of China and internationally.

Banco Macro

Market Cap: AR$4.4t

Provides various banking products and services to retail and corporate customers in Argentina.

Coca-Cola Içecek Anonim Sirketi

Market Cap: ₺132.3b

Engages in the production, sales, and distribution sparkling and still beverages in Turkey, Pakistan, Central Asia, and the Middle East.

Enova International

Market Cap: US$3.2b

A technology and analytics company, provides online financial services in the United States, Brazil, and internationally.

Shandong Linglong TyreLtd

Market Cap: CN¥22.7b

Designs, manufactures, develops, and sells tires in the People’s Republic of China.

Avient

Market Cap: US$3.2b

Operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia.

Moscow Exchange MICEX-RTS

Market Cap: ₽192.3b

Public Joint-Stock Company Moscow Exchange MICEX-RTS, an integrated exchange, provides competitive trading, clearing, settlement, depository, and information services to financial market participants.

Brighthouse Financial

Market Cap: US$3.2b

Provides annuity and life insurance products in the United States.

Clariant

Market Cap: CHF 2.5b

Develops, manufactures, distributes, and sells specialty chemicals in Switzerland, Europe, the Middle East, Africa, the United States, and the Asia Pacific.

Inner Mongolia Berun Chemical

Market Cap: CN¥22.4b

Engages in the soda ash, methanol, fertilizer and agricultural production materials, and other businesses in China.

Xinfengming Group

Market Cap: CN¥22.4b

Researches, develops, produces, and sells polyester filaments.

Titan

Market Cap: €2.7b

Engages in the production, trade, and distribution of construction materials in Greece, the Balkans, Egypt, Türkiye, the United States, and Brazil.

Caihong Display DevicesLtd

Market Cap: CN¥22.0b

Engages in the research, development, production, and sale of substrate glass and display panels in China.

Primary Health Properties

Market Cap: UK£2.3b

Primary Health Properties PLC (“PHP”) is a UK Real Estate Investment Trust (“REIT”) and leading investor in modern primary healthcare premises.

Corporación América Airports

Market Cap: US$3.1b

Through its subsidiaries, acquires, develops, and operates airport concessions.

WesBanco

Market Cap: US$3.1b

Operates as the bank holding company for WesBanco Bank, Inc.