Global Undervalued Small Caps

J.Jill

Market Cap: US$240.0m

Operates as an omnichannel retailer for women’s apparel in the United States.

Energy Recovery

Market Cap: US$574.2m

Designs, manufactures, and sells energy efficiency technology solutions in the United States, North, South and Latin America, the Middle East, Northern Africa, Asia, and Europe.

Martinrea International

Market Cap: CA$699.2m

Engages in the design, development, manufacture, and sale of engineered, value-added lightweight structures, and propulsion systems for automotive sector in North America, Europe, and internationally.

Aviat Networks

Market Cap: US$332.1m

Provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific.

CF Bankshares

Market Cap: US$189.5m

Operates as the bank holding company for CFBank, National Association that provides various banking products and services.

Impax Asset Management Group

Market Cap: UK£158.9m

A publicly owned investment manager.

OMS Energy Technologies

Market Cap: US$183.0m

Through its subsidiaries, manufactures and sells specialty connectors and pipes, surface wellhead and Christmas trees, premium threading services, and other ancillary services in Saudi Arabia, Singapore, Malaysia, Thailand, Indonesia and internationally.

Equasens Société anonyme

Market Cap: €544.1m

Provides healthcare IT solutions in Europe.

Meridian

Market Cap: US$220.2m

Operates as the bank holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Maryland, and Florida.

R&S Group Holding

Market Cap: CHF 849.8m

Manufactures and supplies electrical infrastructure products the United Kingdom, Switzerland, Ireland, Italy, Poland, and the Middle East.

Serabi Gold

Market Cap: UK£253.7m

Engages in the evaluation, exploration, and development of gold and other metals mining projects in Brazil.

Afentra

Market Cap: UK£139.8m

Operates as an upstream oil and gas company primarily in Africa.

AltynGold

Market Cap: UK£356.7m

Engages in the exploration and development of gold producing mine in the Republic of Kazakhstan.

Integrated Diagnostics Holdings

Market Cap: US$338.6m

Operates as a consumer healthcare company that provides medical diagnostics services to patients.

Hacksaw

Market Cap: SEK 16.4b

Operates as a B2B technology platform and game development company in Sweden and Czech Republic.

Angler Gaming

Market Cap: €266.2m

Invests in companies that offer gaming services through the internet in Malta.

Norwegian Air Shuttle

Market Cap: NOK 15.7b

Provides air travel services in Norway and internationally.

World

Market Cap: JP¥122.4b

Through its subsidiaries, plans, manufactures, retails, sells, and imports/exports apparel and fashion products in Japan and internationally.

Cybozu

Market Cap: JP¥103.0b

Develops, sells, and operates of groupware solutions in Japan.

Core Concept Technologies

Market Cap: JP¥16.6b

Engages in the provision of digital transformation support in Japan.

Vector

Market Cap: JP¥65.7b

Engages in the public relations (PR) and advertising, press release distribution, video release distribution, direct marketing, media, investment, and human resources businesses in Japan, China, and internationally.

GA technologies

Market Cap: JP¥66.6b

Operates a real estate brokerage platform.

Petron

Market Cap: ₱29.6b

Operates as an oil refining and marketing company in the Philippines.

Management SolutionsLtd

Market Cap: JP¥22.2b

Provides management consulting, project management execution, and project management training services.

Nick Scali

Market Cap: AU$1.4b

Engages in the sourcing and retailing of household furniture and related accessories in Australia, New Zealand, and the United Kingdom.

Lifedrink Company

Market Cap: JP¥49.6b

Manufactures and sells soft drinks in Japan.

Hunan Sundy Science and Technology

Market Cap: CN¥4.0b

Engages in the research, development, production, and service of analytical instruments and unmanned intelligent equipment in China and internationally.

Goodbaby International Holdings

Market Cap: HK$1.7b

An investment holding company, researches and develops, designs, manufactures, markets, and sells durable juvenile products in the People's Republic of China, Europe, the Middle East, Africa, the United States, and Asia Pacific.

Beijing Chunlizhengda Medical Instruments

Market Cap: HK$7.9b

Beijing Chunlizhengda Medical Instruments Co., Ltd.

China Resources Boya Bio-pharmaceutical GroupLtd

Market Cap: CN¥10.5b

Engages in the blood product businesses in China.

Spinneys 1961 Holding

Market Cap: د.إ4.9b

Through its subsidiaries, engages in the operation of supermarkets under the Spinneys, Waitrose, and Al Fair brands in the United Arab Emirates, the Sultanate of Oman, the Kingdom of Saudi Arabia, and internationally.

Precision Tsugami (China)

Market Cap: HK$14.2b

An investment holding company, manufactures and sells computer numerical control machine tools primarily in Mainland China.

AEON Credit Service (M) Berhad

Market Cap: RM 2.8b

Provides consumer financial services in Malaysia.

BRC Asia

Market Cap: S$1.2b

Engages in the prefabrication of steel reinforcement for use in concrete in Singapore, Australia, Brunei, Hong Kong, Indonesia, Malaysia, Thailand, India, and internationally.

Central Omega Resources

Market Cap: Rp3.9t

Engages in the mineral mining business in Indonesia.

Dana Gas PJSC

Market Cap: د.إ6.1b

Engages in the exploration, production, ownership, transportation, processing, distribution, marketing, and sale of natural gas and petroleum related products in the United Arab Emirates, Iraq, and Egypt.