Global Leverage Leaders

Multistrada Arah Sarana

Market Cap: Rp56.9t

Manufactures, distributes, and markets two and four wheeler tires for motor vehicles in Indonesia, the Middle East, Europe, Australia, Africa, Asia, and the United States.

Raspadskaya

Market Cap: ₽198.1b

Public Joint Stock Company Raspadskaya, together with its subsidiaries, engages in the mining of coking coal.

PJSC LUKOIL

Market Cap: ₽2.5t

PJSC LUKOIL, together with its subsidiaries, engages in exploration, production, refining, marketing, and distribution of oil and gas.

Oil Company Bashneft

Market Cap: ₽176.8b

Public Joint Stock Oil Company Bashneft engages in the development and implementation, exploration, production, and refining of oil reserves in Russia.

Alamtri Minerals Indonesia

Market Cap: Rp45.4t

PT Adaro Minerals Indonesia Tbk, together with its subsidiaries, engages in metallurgical coal mining business in Indonesia.

Vale Indonesia

Market Cap: Rp41.0t

Engages in the mining and processing of nickel in Indonesia.

Kalbe Farma

Market Cap: Rp63.3t

Develops, manufactures, and trades in pharmaceutical products in Indonesia.

Bank CIMB Niaga

Market Cap: Rp42.6t

Provides various banking products and services in Indonesia and internationally.

BELIMO Holding

Market Cap: CHF 11.5b

Engages in the development, production, and sale of damper actuators, control valves, sensors, and meters for heating, ventilation, and air conditioning systems (HVAC) in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Croda International

Market Cap: UK£3.7b

Engages in the consumer care, life science, and industrial specialty businesses in Europe, the Middle East, Africa, North America, Asia, and Latin America.

Financière de Tubize

Market Cap: €6.8b

Operates as a mono holding company whose sole investment is a stake in UCB which is a biopharma company in Belgium.

Trigano

Market Cap: €2.9b

Designs, manufactures, markets, and sells leisure vehicles for individuals and professionals in Europe.

Dover

Market Cap: US$24.3b

Provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide.

LiveRamp Holdings

Market Cap: US$2.1b

A technology company, operates a data collaboration platform in the United States, Europe, the Asia-Pacific, and internationally.

Edwards Lifesciences

Market Cap: US$46.6b

Provides products and technologies to treat advanced cardiovascular diseases in the United States, Europe, Japan, and internationally.

Penumbra

Market Cap: US$9.3b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Plexus

Market Cap: US$3.5b

Provides electronic manufacturing services in the United States and internationally.

Qiagen

Market Cap: US$10.8b

Provides sample to insight solutions that transform biological samples into molecular insights in the Netherlands and internationally.

Impala Platinum Holdings

Market Cap: R152.1b

Engages in the mining, processing, concentrating, refining, and sale of platinum group metals (PGMs) and associated base metals.

Yara International

Market Cap: NOK 95.0b

Provides crop nutrition and industrial solutions in Norway, European Union, Europe, Africa, Asia, North and Latin America, Australia, and New Zealand.

Exxaro Resources

Market Cap: R38.5b

Engages in coal, pigment manufacturing, and renewable energy businesses in South Africa, Europe, Asia, and internationally.

Sprinklr

Market Cap: US$2.3b

Provides enterprise cloud software products worldwide.

MOL Magyar Olaj- és Gázipari Nyilvánosan Muködo Részvénytársaság

Market Cap: Ft1.9t

Operates as an integrated oil and gas company in Hungary and internationally.

Foschini Group

Market Cap: R38.7b

Operates retail stores in South Africa and internationally.

Bure Equity

Market Cap: SEK 21.2b

A private equity and venture capital firm specializing in secondary direct, later stage, middle market, mature, buyouts, mid venture, late venture, PIPES, bridge, industry consolidation, recapitalizations, growth capital, special situation and turnarounds.

Autohome

Market Cap: US$3.3b

Operates as an online destination for automobile consumers in the People’s Republic of China.

Boston Beer Company

Market Cap: US$2.3b

Produces and sells alcohol beverages primarily in the United States.

Renasant

Market Cap: US$3.5b

Operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers.

Wärtsilä Oyj Abp

Market Cap: €14.1b

Offers technologies and lifecycle solutions for the marine and energy markets worldwide.

Garmin

Market Cap: US$43.9b

Designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide.

Caledonia Investments

Market Cap: UK£1.9b

Caledonia Investments plc is a self-managed investment trust company.

Rotork

Market Cap: UK£2.8b

Designs, manufactures, and markets industrial flow control and instrumentation solutions for the oil and gas, water and wastewater, power, chemical process, and industrial markets in the United Kingdom, Asia Pacific, the United States, Europe, the Middle East, Africa, and internationally.

Yelp

Market Cap: US$2.1b

Operates a platform that connects consumers with local businesses in the United States and internationally.

Kumba Iron Ore

Market Cap: R94.8b

Engages in the exploration, extraction, beneficiation, marketing, sale, and shipping of iron ore for the steel industry in South Africa.

Plus500

Market Cap: UK£2.4b

A fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally.

Tenaris

Market Cap: €16.2b

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.