Global Undervalued based on future growth

National Atomic Company Kazatomprom JSC

Market Cap: US$6.2t

Explores for, produces, processes, markets, and sells uranium and uranium related products.

3i Group

Market Cap: UK£39.3b

A private equity firm specializing in mature companies, growth capital, middle markets, infrastructure, and management leveraged buyouts and buy-ins.

Sberbank of Russia

Market Cap: ₽3.0t

Sberbank of Russia, together with its subsidiaries, provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions.

Ford Motor

Market Cap: US$45.5b

Develops, delivers, and services Ford trucks, sport utility vehicles, commercial vans and cars, and Lincoln luxury vehicles worldwide.

JD.com

Market Cap: US$44.8b

Operates as a supply chain-based technology and service provider in the People’s Republic of China.

Emaar Properties PJSC

Market Cap: د.إ129.5b

Engages in the property investment, development, and development management business in the United Arab Emirates and internationally.

Oil and Natural Gas

Market Cap: ₹3.0t

Engages in the exploration, development, production, and distribution of crude oil, natural gas, and value-added products in India and internationally.

China Everbright Bank

Market Cap: CN¥225.2b

Provides a range of financial products and services to corporations and government agencies, retail customers, and individuals in Mainland China, Hong Kong, Luxembourg, Macao, Seoul, and Sydney.

Bank of Jiangsu

Market Cap: CN¥201.5b

Provides various banking products and services in China.

Hewlett Packard Enterprise

Market Cap: US$28.0b

Provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan.

CSC Financial

Market Cap: HK$212.2b

Provides investment banking services in Mainland China and internationally.

Gold Fields

Market Cap: R475.0b

Operates as a gold producer with reserves and resources in Australia, South Africa, Ghana, Peru, Chile, and Canada.

Bank of Ningbo

Market Cap: CN¥185.6b

Provides various personal and business banking products and services in the People's Republic of China.

Panasonic Holdings

Market Cap: JP¥3.6t

Research, develops, manufactures, sells, and services various electrical and electronic products worldwide.

ASE Technology Holding

Market Cap: NT$643.7b

Provides semiconductor manufacturing services in assembly and testing in the United States, Taiwan, Europe, Asia, and internationally.

Citizens Financial Group

Market Cap: US$21.2b

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.

BOE Technology Group

Market Cap: CN¥146.1b

Operates display, Internet of Things (IoT) innovation, sensor, and MLED, smart medicine engineering, and other business in Mainland China and internationally.

Bank of Nanjing

Market Cap: CN¥144.0b

Provides various financial products and services in China.

First Solar

Market Cap: US$19.3b

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

HD Korea Shipbuilding & Offshore Engineering

Market Cap: ₩26.8t

HD Korea Shipbuilding & Offshore Engineering Co., Ltd.

Vedanta

Market Cap: ₹1.7t

A diversified natural resources company, explores, extracts, and processes minerals, and oil and gas in India, Europe, China, the United States, Mexico, and internationally.

Steel Dynamics

Market Cap: US$18.8b

Operates as a steel producer and metal recycler in the United States.

Traton

Market Cap: €16.0b

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.

China Communications Construction

Market Cap: HK$145.4b

Engages in the infrastructure construction, infrastructure design, and dredging businesses in Mainland China, Australia, Hong Kong, Africa, the Middle East, and Southeast Asia.

Bank of Beijing

Market Cap: CN¥132.1b

Provides various banking services to personal and corporate customers in China.

Kaspi.kz

Market Cap: US$18.3b

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

Korea Electric Power

Market Cap: ₩24.9t

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

Continental

Market Cap: €14.9b

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

Principal Financial Group

Market Cap: US$17.4b

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

Hua Xia Bank

Market Cap: CN¥124.6b

Provides commercial banking services in China and Hong Kong.

Fidelity National Financial

Market Cap: US$16.4b

Provides various insurance products in the United States.

Emaar Development PJSC

Market Cap: د.إ59.6b

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

Aptiv

Market Cap: US$16.2b

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.

Wens Foodstuff Group

Market Cap: CN¥115.8b

Operates as a livestock and poultry farming company in China.

Tourmaline Oil

Market Cap: CA$22.3b

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

Bank of Hangzhou

Market Cap: CN¥115.0b

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