1
Microsoft Corporation
MSFT · US
Microsoft: Azure Demand Is Real and the Moat Is Intact, but 393 USD Already Prices a Clean Conversion of the 190 Billion USD Capex Wave Jul 29, 2026 Hold
67 /100
Strong
91/100 Jul 29, 2026
2
Alphabet Inc.
GOOG · US
Alphabet: Search and Cloud Are Both Accelerating, but a 200 Billion Dollar Build Has Turned Free Cash Flow Negative and 333.68 Dollars Already Prices In the Base Case Jul 31, 2026 Hold
65 /100
Strong
85/100 Jul 31, 2026
3
Amazon.com, Inc.
AMZN · US
Amazon: AWS Demand and AI Commitments Are Real, but 230.86 USD Still Asks Investors to Fund a 200 Billion USD Capex Cycle Without a Margin of Safety Jul 29, 2026 Hold
62 /100
Medium
44/100 Jul 29, 2026
4
Figma, Inc.
FIG · US
Figma: The Platform Role Is Real, but Dilution and the Last Unlock Leave No Margin of Safety Jul 28, 2026 Watch
61 /100
Medium
— Jul 28, 2026
5
Wix.com Ltd.
WIX · US
Wix.com: The Partner Channel Is Where AI Shows Up First, and 58.55 USD Prices a Permanent Erosion the Disclosed Evidence Does Not Yet Support Jul 29, 2026 Cautious Buy
58 /100
Medium
— Jul 29, 2026
6
Taiwan Semiconductor Manufacturing Company Limited
2330 · Taiwan
TSMC: Earnings Have Outrun the Share Price to a 28.1x Trailing Multiple, but a Limit-Up Close at NT$2,425 Leaves Only a Limited Margin of Safety Jul 31, 2026 Hold
57 /100
Medium
82/100 Jul 31, 2026
7
Broadcom Inc.
AVGO · US
Broadcom: AI Revenue Grew 143% to 10.8 Billion Dollars, but 389.28 Dollars Buys the Base Case at a 1.30% Owner-Earnings Yield Against 4.74% Treasuries Aug 1, 2026 Hold
56 /100
Medium
63/100 Aug 1, 2026
8
argenx SE
ARGX · US
argenx (ARGX.US / ARGX.BR): A Zen Horizon Report Jun 9, 2026 Watch
55 /100
Medium
38/100 Jun 10, 2026
9
Sea Limited
SE · US
Sea Limited (SE.US) Zen Horizon Report Jun 9, 2026 Watch
55 /100
Medium
34/100 Jun 10, 2026
10
Nu Holdings Ltd.
NU · US
Nu Holdings: A 33% ROE Flattered by a 14.2% Tax Rate, 90+ Day NPLs Up to 6.9%, and 5.7 Times Tangible Book Leaves No Margin of Safety Sep 23, 2026 Hold
54 /100
Medium
— Sep 23, 2026
11
CrowdStrike Holdings, Inc.
CRWD · US
CrowdStrike: A Deep Value Investing Analysis May 21, 2026 Watch
54 /100
Medium
— Jun 10, 2026
12
Adyen N.V.
ADYEN · Amsterdam
Adyen: H1 2026 Volume Rose 24% but Net Revenue Only 19% as the Take Rate Slipped to 16.2bps, and €860.60 Leaves No Conservative Margin of Safety Sep 24, 2026 Hold
53 /100
Medium
91/100 Sep 24, 2026
13
Hansoh Pharmaceutical Group Company Limited
3692 · HK
Hansoh Pharmaceutical: One Molecule, One Royalty Book, and a Price That Already Pays for Both Aug 17, 2026 Hold
53 /100
Medium
94/100 Aug 17, 2026
14
Manhattan Associates, Inc.
MANH · US
Manhattan Associates: 26% Cloud Growth Sits Inside 9.3% Total Revenue Growth, Existing Customers Supplied 75% of Q2 New Cloud Contract Value, and 40x SBC-Adjusted Owner Earnings Leaves No Margin of Safety Aug 16, 2026 Hold
53 /100
Medium
95/100 Aug 16, 2026
15
Innovent Biologics, Inc.
1801 · HK
Innovent Biologics: The China Platform Is Real, but the Price Already Pre-Pays the Obesity Curve Jul 28, 2026 Hold
53 /100
Medium
— Jul 28, 2026
16
Sika AG
SIKA · SW
Sika AG: Quality Compounder in a Cyclical Air Pocket Jun 27, 2026 Hold
53 /100
Medium
80/100 Jun 27, 2026
17
Straumann Holding AG
STMN · SW
Straumann Holding AG: Dental Platform Leader at a Demanding Price Jun 27, 2026 Hold
53 /100
Medium
80/100 Jun 27, 2026
18
HEICO Corporation
HEI · US
HEICO Corporation: In-Depth Research Jun 15, 2026 Hold
53 /100
Medium
78/100 Jun 15, 2026
19
Credo Technology Group Holding Ltd
CRDO · US
Credo (CRDO) Zen Horizon Report Jun 5, 2026 Watch
53 /100
Medium
38/100 Jun 10, 2026
20
Apollo Global Management, Inc.
APO · US
Apollo Global Management: A Study of a Compounding Alternative-Asset Platform May 23, 2026 Watch
53 /100
Medium
— Jun 11, 2026
21
Kaspi.kz JSC
KSPI · US
Kaspi.kz: A Deep-Value Investment Study May 18, 2026 Watch
53 /100
Medium
78/100 Jun 11, 2026
22
Hermès International SCA
RMS · Paris
Hermès International SCA: A 41% Operating Margin Meets 6.1% Constant-Currency Growth, and EUR 1,475 Sits 18-31% Above the Conservative Value Sep 8, 2026 Hold
52 /100
Medium
93/100 Sep 8, 2026
23
Hyosung Heavy Industries Co., Ltd.
298040 · Korea
Hyosung Heavy Industries: A KRW 17.5 Trillion Grid Backlog, 94% of Segment Profit from Power Equipment, and No Margin of Safety at KRW 2.79 Million Aug 24, 2026 Hold
52 /100
Medium
34/100 Aug 24, 2026
24
Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
300760 · Shenzhen
Mindray Bio-Medical: The Transition Is Real, But So Is the Price Tag Jul 19, 2026 Hold
52 /100
Medium
95/100 Jul 19, 2026
25
GSK plc
GSK · US
GSK plc: Rebuilt Biopharma, Racing the Patent Cliff Jun 27, 2026 Hold
52 /100
Medium
84/100 Jun 27, 2026
26
Constellation Software Inc.
CSU · Tokyo
Constellation Software: A Compounding Machine at a Full Price Jun 17, 2026 Hold
52 /100
Medium
— Jun 18, 2026
27
Reddit, Inc.
RDDT · US
Reddit Deep Dive Jun 15, 2026 Hold
52 /100
Medium
— Jun 15, 2026
28
Tokyo Electron
8035 · TSE
Tokyo Electron Deep Dive Jun 3, 2026 Hold
52 /100
Medium
— Jun 10, 2026
29
Corpay, Inc.
CPAY · US
Corpay: A Value Investing Deep Dive May 29, 2026 Watch
52 /100
Medium
93/100 Jun 10, 2026
30
KKR & Co. Inc.
KKR · US
KKR: A Value-Investing Deep Dive May 26, 2026 Watch
52 /100
Medium
— Jun 11, 2026
31
Ares Management Corporation
ARES · US
Ares Management: A Deep Dive into the Alternative Asset Management Platform May 23, 2026 Watch
52 /100
Medium
45/100 Jun 11, 2026
32
Pop Mart International Group
9992 · HK
Pop Mart: A Deep Long-Term Value Study May 19, 2026 Watch
52 /100
Medium
68/100 Jun 11, 2026
33
Nova Ltd.
NVMI · US
Nova: Record Q2 Revenue of $255 Million and 26% Guided Growth, but 45x Trailing GAAP Earnings Leave No Margin of Safety Aug 25, 2026 Hold
51 /100
Medium
72/100 Aug 26, 2026
34
WuXi AppTec Co., Ltd.
2359 · HK
WuXi AppTec Co., Ltd.: Chemistry Resets the Earnings Base, the U.S. Question Stays Open, and HK$199.10 Leaves No Conservative Discount Aug 12, 2026 Hold
51 /100
Medium
62/100 Aug 12, 2026
35
Salesforce, Inc.
CRM · US
Salesforce: Agentforce ARR Grew 205% to 1.2 Billion Dollars, but Growth Excluding Informatica Was 8.75% and 184.02 Dollars Leaves No Margin of Safety Aug 1, 2026 Hold
51 /100
Medium
64/100 Aug 1, 2026
36
FUJIMI INCORPORATED
5384 · TSE
Fujimi: The Hidden Champion of CMP and Silicon-Wafer Polishing Materials, but 3,680 Yen Already Prepays a Good Deal of the Next Few Years Jul 29, 2026 Watch
51 /100
Medium
— Jul 29, 2026
37
Meituan
3690 · HK
Meituan: A High-Quality Franchise With Temporarily Broken Earnings Jul 1, 2026 Hold
51 /100
Medium
— Jul 1, 2026
38
NARI Technology Co., Ltd.
600406 · Shanghai
NARI Technology: Grid-Control Franchise, Quality Already Priced Jun 27, 2026 Hold
51 /100
Medium
81/100 Jun 27, 2026
39
Jiangsu Hengrui Pharmaceuticals Co., Ltd.
600276 · Shanghai
Hengrui Pharmaceuticals: A Fortress Innovation Platform, But RMB 50 Already Pays for the Upgrade Jun 26, 2026 Hold
51 /100
Medium
83/100 Jun 26, 2026
40
Asymchem Laboratories (Tianjin) Co., Ltd.
002821 · Shenzhen
Asymchem Laboratories: A Proven Small-Molecule CDMO in Transition to New Modalities, Already Priced for Success Jun 24, 2026 Hold
51 /100
Medium
— Jun 24, 2026
41
Sartorius AG
SRT3 · XETRA
Sartorius AG: A Quality Bioprocess Recovery Already in the Price Jun 19, 2026 Hold
51 /100
Medium
— Jun 19, 2026
42
Hitachi, Ltd.
6501 · TSE
Hitachi: A Deep Dive Jun 14, 2026 Hold
51 /100
Medium
— Jun 14, 2026
43
KEYENCE Corporation
6861 · TSE
KEYENCE: In-Depth Research Jun 12, 2026 Hold
51 /100
Medium
— Jun 13, 2026
44
Eurofins Scientific SE
ERF · Paris
Eurofins Scientific (Eurofins Scientific SE, ERF.PA) — Zen Horizon Report Jun 8, 2026 Watch
51 /100
Medium
50/100 Jun 10, 2026
45
Safran SA
SAF · Paris
Safran SA (SAF.PA) — Zen Horizon Report Jun 8, 2026 Watch
51 /100
Medium
49/100 Jun 10, 2026
46
Luckin Coffee, Inc.
LKNCY · US
Luckin Coffee Zen Horizon Analysis: China's Coffee Leader in the Middle of a Valuation Reset Jun 4, 2026 Hold
51 /100
Medium
28/100 Jun 10, 2026
47
Insulet Corporation
PODD · US
Insulet Corporation: A Long-Term Owner's Perspective May 31, 2026 Watch
51 /100
Medium
53/100 Jun 10, 2026
48
ResMed Inc.
RMD · US
ResMed: A Long-Term Owner's Perspective May 28, 2026 Watch
51 /100
Medium
99/100 Jun 10, 2026
49
S&P Global Inc.
SPGI · US
S&P Global: A Long-Term Owner's View May 25, 2026 Watch
51 /100
Medium
75/100 Jun 11, 2026
50
Netflix, Inc.
NFLX · US
Netflix: A Long-Term Business Owner's Perspective May 22, 2026 Watch
51 /100
Medium
74/100 Jun 10, 2026
51
Royalty Pharma plc
RPRX · US
Royalty Pharma: $3.254bn of Portfolio Receipts and 48% Deal Share Meet a 24% Expiry Wall by 2030 and a $58.41 Price That Already Pays for the Platform Sep 20, 2026 Hold
50 /100
Medium
58/100 Sep 20, 2026
52
Eastroc Beverage (Group) Co., Ltd.
605499 · Shanghai
Eastroc Beverage: Energy Supplies 81% of Product Gross Profit While Growing 6.9%, and RMB122.93 Leaves No Conservative Margin of Safety Aug 15, 2026 Hold
50 /100
Medium
87/100 Aug 15, 2026
53
Procore Technologies, Inc.
PCOR · US
Procore Technologies: Operating Leverage Finally Shows, but a 16%-of-Revenue Stock-Compensation Bill Leaves 48.82 USD Fairly Priced Rather Than Cheap Jul 30, 2026 Hold
50 /100
Medium
— Jul 30, 2026
54
Akeso, Inc.
9926 · HK
Akeso, Inc.: A Commercial-Stage Antibody Innovator Still Priced on Ivonescimab's Global Option Value Jun 24, 2026 Hold
50 /100
Medium
— Jun 24, 2026
55
The New York Times Company
NYT · US
The New York Times: Bundle Economics at Full Value Jun 17, 2026 Hold
50 /100
Medium
69/100 Jun 18, 2026
56
NAURA Technology Group
002371 · Shenzhen
NAURA Technology Group SUN-R Investment Analysis Jun 16, 2026 Watch
50 /100
Medium
50/100 Jun 16, 2026
57
HubSpot, Inc.
HUBS · US
HubSpot Deep-Dive Research Jun 15, 2026 Hold
50 /100
Medium
— Jun 15, 2026
58
NetEase, Inc.
NTES · US
NetEase, Inc. Deep-Dive Research Jun 15, 2026 Hold
50 /100
Medium
92/100 Jun 15, 2026
59
Roblox Corporation
RBLX · US
Roblox Corporation Deep-Dive Research Jun 15, 2026 Watch
50 /100
Medium
— Jun 15, 2026
60
Nintendo Co., Ltd.
7974 · TSE
Nintendo (7974.T / NTDOY) Zen Horizon Framework Deep Research Jun 9, 2026 Buy
50 /100
Medium
— Jun 10, 2026
61
Hexagon AB (publ)
HEXA-B · ST
Hexagon AB (HEXA-B.ST) Zen Horizon Deep-Dive Research Report Jun 9, 2026 Watch
50 /100
Medium
67/100 Jun 10, 2026
62
Nasdaq, Inc.
NDAQ · US
Nasdaq Investment Memo May 27, 2026 Watch
50 /100
Medium
57/100 Jun 11, 2026
63
Airbnb, Inc.
ABNB · US
Airbnb Value Investment Deep-Dive May 22, 2026 Watch
50 /100
Medium
46/100 Jun 11, 2026
64
Ferrovial NV
FER · US
Ferrovial NV In-Depth Value Research Report May 22, 2026 Watch
50 /100
Medium
34/100 Jun 11, 2026
65
AppLovin Corporation
APP · US
AppLovin Corporation In-Depth Value Investment Research May 21, 2026 Watch
50 /100
Medium
49/100 Jun 10, 2026
66
Moncler S.p.A.
MONC · MI
Moncler S.p.A.: Luxury-Grade 29% Margins and EUR 1.11bn of Net Cash, but Only 38-40% of Revenue Lands in H1 and EUR 44.69 Sits 31% Above the EUR 34 Ideal Buy Ceiling Sep 14, 2026 Hold
49 /100
Weak
— Sep 14, 2026
67
AJ Bell plc
AJB · LSE
AJ Bell: Reconstructed FY2025 Client-Cash Interest of £136.5m Nearly Equals £137.8m Group PBT, H1 Revenue Margin Expanded to 33.4 Basis Points Instead of Compressing, and £6.18 Leaves No Margin of Safety Aug 16, 2026 Hold
49 /100
Weak
97/100 Aug 16, 2026
68
Zymeworks Inc.
ZYME · US
Zymeworks: The Molecule Is Proven, the Allocator Is Not Jul 29, 2026 Hold
49 /100
Weak
— Jul 29, 2026
69
Rheinmetall AG
RHM · XETRA
Rheinmetall: Respect Without Urgency for a Re-Rated Defence Prime Jul 23, 2026 Hold
49 /100
Weak
63/100 Jul 23, 2026
70
NICE Ltd.
NICE · US
NICE Ltd: A Good Software Business Still Waiting for Proof That AI Adds More Than It Substitutes Jul 22, 2026 Watch
49 /100
Weak
75/100 Jul 22, 2026
71
Saab AB (publ)
SAAB-B · ST
Saab: Europe's Sovereign Defense Franchise Is Real, but the Margin of Safety Is Gone Jul 10, 2026 Hold
49 /100
Weak
58/100 Jul 10, 2026
72
Bentley Systems, Incorporated
BSY · US
Bentley Systems: Durable Infrastructure Compounder, Thin Margin of Safety Jun 28, 2026 Hold
49 /100
Weak
85/100 Jun 28, 2026
73
XtalPi Holdings Limited
2228 · HK
XtalPi Holdings: An AI-for-Science Platform Climbing from Fee-for-Service Work to Milestone Economics, Still Priced Ahead of Proof Jun 24, 2026 Hold
49 /100
Weak
— Jun 24, 2026
74
Merck KGaA, Darmstadt, Germany
MRK · XETRA
Merck KGaA: A Diversified Science Platform in Transition Jun 19, 2026 Hold
49 /100
Weak
— Jun 19, 2026
75
Everpure, Inc. (formerly Pure Storage, Inc.)
PSTG · US
Pure Storage: An All-Flash Foundation and the Hyperscaler Narrative Jun 14, 2026 Hold
49 /100
Weak
51/100 Jun 15, 2026
76
Celestica Inc.
CLS · US
Celestica Inc. Deep-Dive Research Jun 12, 2026 Hold
49 /100
Weak
61/100 Jun 12, 2026
77
Gartner, Inc.
IT · US
Gartner Long-Term Value Investment Research May 31, 2026 Cautious Buy
49 /100
Weak
66/100 Jun 10, 2026
78
Wheaton Precious Metals Corp.
WPM · US
Wheaton Precious Metals In-Depth Research May 31, 2026 Hold
49 /100
Weak
45/100 Jun 10, 2026
79
Stryker Corporation
SYK · US
Stryker In-Depth Value Investment Research May 25, 2026 Watch
49 /100
Weak
83/100 Jun 11, 2026
80
Copart, Inc.
CPRT · US
Copart Deep Value Investment Analysis May 21, 2026 Watch
49 /100
Weak
91/100 Jun 10, 2026
81
Hong Kong Exchanges and Clearing Limited
0388 · HK
HKEX: H1 2026 Profit Rose 24% to HK$10.568bn on Record HK$283.0bn Daily Turnover, but HK$395.80 Is Nearly 30 Times Normalised EPS Sep 24, 2026 Hold
48 /100
Weak
84/100 Sep 24, 2026
82
ASSA ABLOY AB (publ)
ASSA-B · ST
ASSA ABLOY: Goodwill and Intangibles Reach 133% of Equity, Fully Loaded ROIC Is 10-11% Against 14.4% Reported, and 24 Times Earnings Leaves No Margin of Safety Sep 22, 2026 Hold
48 /100
Weak
67/100 Sep 22, 2026
83
Zhejiang CFMOTO Power Co., Ltd.
603129 · Shanghai
CFMOTO: Four-Wheeler Revenue Up 51% but H1 Profit Up Only 6%, and CNY 296.88 at 24-25x Normalized Earnings Leaves No Margin of Safety Sep 17, 2026 Hold
48 /100
Weak
78/100 Sep 17, 2026
84
Compagnie Financière Richemont SA
CFR · SW
Compagnie Financière Richemont SA: Jewellery Earns EUR 5.04bn of Operating Profit While Watchmakers Earn EUR 107m, and CHF 183.65 Sits 18% Above the Conservative Value Sep 9, 2026 Hold
48 /100
Weak
67/100 Sep 9, 2026
85
Zhejiang Hithink RoyalFlush Information Network Co., Ltd.
300033 · Shenzhen
Hithink RoyalFlush: Advertising Supplied 78% of 2025 Incremental Revenue, and CNY230.26 Already Sits at the CNY228 Base-Case Value Aug 15, 2026 Hold
48 /100
Weak
87/100 Aug 15, 2026
86
Danaher Corporation
DHR · US
Danaher: Orders and Peers Make the Bioprocessing Recovery Underwritable, but 3-4% Core Growth at 23 Times Earnings Leaves No Margin of Safety Aug 6, 2026 Hold
48 /100
Weak
— Aug 6, 2026
87
Vertiv Holdings Co
VRT · US
Vertiv Holdings Co: Deferred Revenue Doubled to 3.63 Billion USD After a 110 Million USD Second-Quarter Revenue Miss, While Full-Year Guidance Implies 4.33 Billion USD of Fourth-Quarter Sales Aug 6, 2026 Hold
48 /100
Weak
40/100 Aug 6, 2026
88
Hanwha Aerospace Co., Ltd.
012450 · Korea
Hanwha Aerospace: The K9 Export Franchise Is Genuine, but at 865,000 KRW the Price Still Rides on Backlog Conversion and Capital Discipline Jul 31, 2026 Hold
48 /100
Weak
— Jul 31, 2026
89
Compagnie de Saint-Gobain S.A.
SGO · Paris
Saint-Gobain: A Higher Margin Floor Is Proven, but at 74.16 EUR the Price Sits Above the 64 EUR Conservative Value Jul 29, 2026 Hold
48 /100
Weak
57/100 Jul 30, 2026
90
Ningbo Tuopu Group Co., Ltd.
601689 · Shanghai
Ningbo Tuopu: Fair for the Auto Business, Pricey for the Robot Option Jul 23, 2026 Hold
48 /100
Weak
48/100 Jul 23, 2026
91
AVIC Jonhon Optronic Technology Co., Ltd.
002179 · Shenzhen
AVIC Jonhon Optronic: Defense-Grade Interconnect Leader, Recovery Already Priced Jun 27, 2026 Hold
48 /100
Weak
— Jun 27, 2026
92
Asana, Inc.
ASAN · US
Asana: Optically Cheap, Strategically Unproven Jun 20, 2026 Watch
48 /100
Weak
— Jun 20, 2026
93
Iridium Communications Inc.
IRDM · US
Iridium: A Global Cash Machine With Option Premium Jun 17, 2026 Hold
48 /100
Weak
24/100 Jun 18, 2026
94
Beijing Kingsoft Office Software, Inc.
688111 · Shanghai
Kingsoft Office In-Depth Research Jun 14, 2026 Hold
48 /100
Weak
76/100 Jun 14, 2026
95
Prysmian Group
PRY · MI
Prysmian Group (PRY.MI) Zen Horizon Research Report Jun 9, 2026 Watch
48 /100
Weak
— Jun 10, 2026
96
Siemens AG / Siemens AG
SIE · XETRA
Siemens AG (SIE.XETRA) Zen Horizon Research Report Jun 9, 2026 Watch
48 /100
Weak
63/100 Jun 10, 2026
97
Siemens Energy
ENR · XETRA
Siemens Energy Deep Research under the Zen Horizon Framework Jun 8, 2026 Hold
48 /100
Weak
39/100 Jun 10, 2026
98
Lonza Group AG
LONN · SW
Lonza Group AG (LONN.SW) Zen Horizon Research Report Jun 8, 2026 Hold
48 /100
Weak
— Jun 10, 2026
99
Block, Inc.
XYZ · US
Block Investment Research Report May 27, 2026 Watch
48 /100
Weak
— Jun 10, 2026
100
Roper Technologies, Inc.
ROP · US
Roper Technologies Research from a Long-Term Owner's Perspective May 23, 2026 Cautious Buy
48 /100
Weak
66/100 Jun 11, 2026