CAAP
Corporacion America Airports S.A.
stock NYSE

Depends how deep into the weeds you want to get. I've got a real mix right now. I've added TBCG.L and BGEO.L which are two banks from Georgia which also operate in Uzbezistan and Armenia. Great growth, low NPL ratios, PE ratio of 6-7 and a 3-5% dividend. Average return has been 53% per annum over the last 5 years for BGEO.L and 33% per annum for TBCG.L. Obviously the main risk you're taking is Russia next door.
I also hold ASR which is an airport operator out of Latin America. ROIC of around 20%, forward PE of 11.5. It's been growing revenues at about 15% per annum for the last 10 years. I like airports because they obviously have very substantial moats and you're well protected against inflation.
I also hold CAAP which is another airport operator mainly exposed to Latin America but also Italy and Armenia. (Similar reasons to the above)
I hold KSPI which is basically a Kazakh super app. It's pretty well known these days but it's ridiculously cheap and is basically a monopoly in Kazakhstan. Growing at 30% a year, 8% dividend which is only a 30% payout ratio, a PE of 7 and incredible profit margins.
GRAB. This has only recently become profitable but again it's a super app in Asia. It has everything from ride hailing like Uber, to groceries, food delivery and financial services. I've just come back from Thailand and it's everywhere there. The runway for these sorts of apps in regions which are underbanked is a massive tailwind for the future. Could be a multi bagger if management execute well. Interestingly Uber attempted to compete with them in South East Asia, lost and ended up buying a stake in GRAB instead.
I have some others but you get the picture. I'm not pulling all my money out of US stocks. My biggest position is still VOOG and I bought MSFT on this most recent dip but I'm slowly restructuring with more of a tilt away from AI/big tech.

Depends how deep into the weeds you want to get. I've got a real mix right now. I've added TBCG.L and BGEO.L which are two banks from Georgia which also operate in Uzbezistan and Armenia. Great growth, low NPL ratios, PE ratio of 6-7 and a 3-5% dividend. Average return has been 53% per annum over the last 5 years for BGEO.L and 33% per annum for TBCG.L. Obviously the main risk you're taking is Russia next door.
I also hold ASR which is an airport operator out of Latin America. ROIC of around 20%, forward PE of 11.5. It's been growing revenues at about 15% per annum for the last 10 years. I like airports because they obviously have very substantial moats and you're well protected against inflation.
I also hold CAAP which is another airport operator mainly exposed to Latin America but also Italy and Armenia. (Similar reasons to the above)
I hold KSPI which is basically a Kazakh super app. It's pretty well known these days but it's ridiculously cheap and is basically a monopoly in Kazakhstan. Growing at 30% a year, 8% dividend which is only a 30% payout ratio, a PE of 7 and incredible profit margins.
GRAB. This has only recently become profitable but again it's a super app in Asia. It has everything from ride hailing like Uber, to groceries, food delivery and financial services. I've just come back from Thailand and it's everywhere there. The runway for these sorts of apps in regions which are underbanked is a massive tailwind for the future. Could be a multi bagger if management execute well. Interestingly Uber attempted to compete with them in South East Asia, lost and ended up buying a stake in GRAB instead.
I have some others but you get the picture. I'm not pulling all my money out of US stocks. My biggest position is still VOOG and I bought MSFT on this most recent dip but I'm slowly restructuring with more of a tilt away from AI/big tech.