U.S. Undervalued Small Caps

Zevra Therapeutics

Market Cap: US$647.9m

A commercial-stage company, focuses on addressing unmet needs for the treatment of rare diseases in the United States.

Betterware de MéxicoP.I. de

Market Cap: US$690.5m

Operates as a direct-to-consumer selling company in the United States and Mexico.

Village Farms International

Market Cap: US$274.3m

Produces, markets, and distributes greenhouse grown tomatoes, bell peppers, and cucumbers in North America.

Ategrity Specialty Insurance Company Holdings

Market Cap: US$919.8m

Through its subsidiaries, provides excess and surplus lines insurance and reinsurance products to small and medium-sized businesses in the United States.

Power Solutions International

Market Cap: US$931.7m

Designs, engineers, manufactures, markets, and sells engines and power systems in the United States, the rest of North America, the Pacific Rim, Europe, and internationally.

Collegium Pharmaceutical

Market Cap: US$1.0b

A specialty pharmaceutical company, engages in the development and commercialization of medicines for pain management.

Viant Technology

Market Cap: US$793.0m

Operates a cloud-based demand side platform (DSP) that enables the programmatic purchase of digital advertising across multiple channels, including connected TV (CTV), streaming audio, digital out-of-home, mobile, and desktop.

Climb Global Solutions

Market Cap: US$412.1m

Operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, and the United Kingdom.

MarketWise

Market Cap: US$267.7m

Operates a content and technology multi-brand platform for self-directed investors in the United States and Internationally.

Dole

Market Cap: US$1.3b

Engages in sourcing, production, distribution, and marketing of fresh fruits and vegetables worldwide.

Caledonia Mining

Market Cap: US$402.7m

Primarily operates a gold mine in Jersey.

ADMA Biologics

Market Cap: US$1.8b

A biopharmaceutical company, develops, manufactures, and markets specialty plasma-derived biologics for the treatment of immune deficiencies and infectious diseases in the United States and internationally.

Infinity Natural Resources

Market Cap: US$838.0m

Engages in the acquisition, exploration, and development of properties to produce crude oil, natural gas, and natural gas liquids in the United States.

UP Fintech Holding

Market Cap: US$830.4m

Provides online brokerage services focusing on Chinese investors in New Zealand, the Cayman Island, Singapore, the United States, and internationally.

Abeona Therapeutics

Market Cap: US$323.2m

A commercial-stage biopharmaceutical company, develops gene and cell therapies for life-threatening diseases in the United States.

Limbach Holdings

Market Cap: US$971.6m

Operates as a building systems solution company in the United States.

Pagaya Technologies

Market Cap: US$1.2b

A product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial services, their customers, and institutional or sophisticated investors in the United States, Israel, and the Cayman Islands.

Kingstone Companies

Market Cap: US$219.7m

Through its subsidiary, Kingstone Insurance Company, provides property and casualty insurance products in the United States.

CareCloud

Market Cap: US$104.5m

A healthcare information technology company, provides technology-enabled business solutions, Software-as-a-Service offerings, and related business services to healthcare providers and hospitals primarily in the United States.

Upwork

Market Cap: US$1.1b

Provides platforms and workforce solutions that connect businesses with freelance, agency, fractional, and payrolled talent in the United States, the Philippines, India, Pakistan, and internationally.

FatPipe

Market Cap: US$111.1m

Develops application-aware, secure software-defined wide area network, secure access service edge, and network monitoring service (NMS) software solutions in the United States, India, and internationally.

OMS Energy Technologies

Market Cap: US$198.7m

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.

CF Bankshares

Market Cap: US$184.4m

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

Meridian

Market Cap: US$212.6m

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

Tactile Systems Technology

Market Cap: US$550.6m

A medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States.

GDEV

Market Cap: US$250.5m

Develops and publishes online games in the United States, Europe, Asia, and internationally.

ANI Pharmaceuticals

Market Cap: US$1.6b

A biopharmaceutical company, develops, manufactures, and markets branded and generic pharmaceutical products in the United States and internationally.

Alto Ingredients

Market Cap: US$428.5m

Produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States.

Bowhead Specialty Holdings

Market Cap: US$798.6m

Provides commercial specialty property and casualty insurance products in the United States.

TOYO

Market Cap: US$603.9m

Engages in the upstream production of wafer and silicon, midstream production of solar cell, downstream production of photovoltaic (PV) modules, and other stages of the solar power supply chain in Asia and the United States.

BrightView Holdings

Market Cap: US$1.1b

Through its subsidiaries, provides commercial landscaping services in the United States.

Imperial Petroleum

Market Cap: US$233.8m

Provides seaborne transportation services worldwide.

Northeast Bank

Market Cap: US$1.0b

Provides various banking services to individual and corporate customers in Maine.

HMH Holding

Market Cap: US$966.7m

Provides offshore and onshore oil and gas drilling equipment and systems and services in the United States and Norway.

Alamo Group

Market Cap: US$1.8b

Manufactures and sells industrial and vegetation management equipment for governmental, industrial, and agricultural uses worldwide.

USCB Financial Holdings

Market Cap: US$339.0m

Operates as the bank holding company for U.S.