Global Undervalued Solid Performers

Microsoft

Market Cap: US$3.1t

Develops and supports software, services, devices, and solutions worldwide.

Exxon Mobil

Market Cap: US$643.7b

Engages in the exploration and production of crude oil and natural gas in the United States, Canada, and internationally.

PetroChina

Market Cap: HK$2.3t

Engages in a range of petroleum related products, services, and activities in Mainland China and internationally.

CNOOC

Market Cap: HK$1.3t

An investment holding company, engages in the exploration, development, production, and sale of crude oil and natural gas in worldwide.

Allianz

Market Cap: €145.8b

Provides property-casualty insurance, life/health insurance, and asset management products and services worldwide.

Xiaomi

Market Cap: HK$774.1b

An investment holding company, engages in the development and sales of smartphones in Mainland China and internationally.

EssilorLuxottica Société anonyme

Market Cap: €79.6b

Designs, manufactures, and distributes ophthalmic lenses, frames, sunglasses, and instruments and equipment in North America, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific.

Midea Group

Market Cap: CN¥603.1b

Engages in the manufacture and sale of electrical appliance in China and internationally.

Intuit

Market Cap: US$84.0b

Provides financial management, payments and capital, compliance, and marketing products and services in the United States.

EOG Resources

Market Cap: US$74.6b

Explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas in producing basins in the United States, the Republic of Trinidad and Tobago, and internationally.

NetEase

Market Cap: HK$579.1b

Engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €59.5b

Engages in the insurance and reinsurance businesses worldwide.

Barrick Mining

Market Cap: CA$95.3b

Engages in the exploration, development, production, and sale of mineral properties.

Rheinmetall

Market Cap: €57.0b

Provides mobility and security technologies in Germany, Rest of Europe, North, Middle, and South America, Asia and the Near East, and internationally.

Travelers Companies

Market Cap: US$65.3b

Through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States, Canada, and internationally.

Nongfu Spring

Market Cap: HK$479.1b

Produces and sells packaged drinking water and beverage products primarily in Mainland China.

Cenovus Energy

Market Cap: CA$78.1b

Develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada, the United States, and China.

Diamondback Energy

Market Cap: US$56.5b

An independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas, the United States.

Allstate

Market Cap: US$55.2b

Provides property and casualty, and other insurance products in the United States and Canada.

Woodside Energy Group

Market Cap: AU$61.0b

Engages in the exploration, evaluation, development, production, marketing, and sale of hydrocarbons in the Asia Pacific, Africa, the Americas, and the Europe.

JD.com

Market Cap: US$42.5b

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

Kia

Market Cap: ₩64.0t

Manufactures and sells vehicles in South Korea, North America, and Europe.

PICC Property and Casualty

Market Cap: HK$328.7b

Engages in property and casualty insurance business in People’s Republic of China.

Prudential

Market Cap: UK£28.3b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

Hartford Insurance Group

Market Cap: US$37.3b

Provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally.

CTBC Financial Holding

Market Cap: NT$1.1t

Engages in corporate and personal finance, life insurance, and other businesses in Taiwan, Asia, and North America.

Heidelberg Materials

Market Cap: €30.8b

Produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide.

Komatsu

Market Cap: JP¥5.6t

Manufactures and sells construction, mining, and utility equipment in Japan, the Americas, Europe, China, rest of Asia, Oceania, the Middle East, Africa, and CIS countries.

Adyen

Market Cap: €30.2b

Operates a payments platform in Europe, the Middle East, Africa, North America, the Asia Pacific, and Latin America.

Hannover Rück

Market Cap: €29.1b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

Arch Capital Group

Market Cap: US$33.5b

Provides insurance, reinsurance, and mortgage insurance products in the United States, Canada, Bermuda, the United Kingdom, Europe, and Australia.

3i Group

Market Cap: UK£23.5b

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

DENSO

Market Cap: JP¥4.9t

Engages in the manufacture and sale of automotive parts in Japan, Rest of Asia, North America, Europe, and internationally.

Tenaris

Market Cap: €26.7b

Manufactures and supplies steel pipe products and related services for the energy industry and other industrial applications in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

ResMed

Market Cap: US$30.3b

Develops, manufactures, distributes, and markets medical devices and cloud-based software applications to diagnose, treat, and manage respiratory disorders in the United States and internationally.

Kongsberg Gruppen

Market Cap: NOK 274.0b

Provides high-tech systems and solutions primarily to customers in the defense markets.