U.S. Undiscovered Gems With Strong Fundamentals

FRMO

Market Cap: US$363.4m

Through Horizon Kinetics, LLC, operates as an investment advisory and independent research company in the United States.

Sound Financial Bancorp

Market Cap: US$114.2m

Operates as the bank holding company for Sound Community Bank that provides banking and other financial services for consumers and businesses.

Morris State Bancshares

Market Cap: US$235.4m

Operates as the bank holding company for Morris Bank that provides various financial services to individuals and small businesses in Georgia.

Tri-County Financial Group

Market Cap: US$114.5m

Operates as a bank holding company for First State Bank, providing various banking and mortgage banking services and insurance services to individuals and businesses in the United States.

Franklin Financial Services

Market Cap: US$218.6m

Operates as the bank holding company for Farmers and Merchants Trust Company of Chambersburg that provides commercial, retail banking, and trust services to businesses, individuals, governmental entities in Pennsylvania.

Gulf Island Fabrication

Market Cap: US$188.9m

Operates as a fabricator of steel structures and modules in the United States.

Union Bankshares

Market Cap: US$103.8m

Operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking products and services in the United States.

FineMark Holdings

Market Cap: US$455.2m

Operates as the bank holding company for FineMark National Bank & Trust that provides various banking and financial services to individual and corporate clients.

Seneca Foods

Market Cap: US$808.6m

Provides packaged fruits and vegetables in the United States and internationally.

First Northern Community Bancorp

Market Cap: US$208.2m

Operates as the bank holding company for First Northern Bank of Dixon that provides commercial banking products and services to individuals, and small and medium sized businesses.

Oakworth Capital

Market Cap: US$169.7m

Operates as a bank holding company for Oakworth Capital Bank that provides range of banking services in the United States.

Southern Michigan Bancorp

Market Cap: US$110.1m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest and south-central Michigan communities.

Affinity Bancshares

Market Cap: US$116.9m

Operates as the holding company for Affinity Bank that provides various banking products and services in Georgia.

Metalpha Technology Holding

Market Cap: US$109.4m

Provides wealth management services in Hong Kong.

Linkhome Holdings

Market Cap: US$176.4m

An artificial intelligence-driven property technology company, provides real estate related services in the United States.

Senstar Technologies

Market Cap: US$110.8m

Provides physical, video, and access control security products and solutions worldwide.

Epsilon Energy

Market Cap: US$108.1m

A North American onshore independent natural gas and oil company, engages in the acquisition, exploration, development, gathering, and production of natural oil and gas reserves.

ASA Gold and Precious Metals

Market Cap: US$948.0m

A publicly owned investment manager.

First Bancorp

Market Cap: US$286.8m

Operates as the bank holding company for First National Bank that provides a range of banking products and services to individual and corporate customers.

Pure Cycle

Market Cap: US$270.4m

Provides water and wastewater services in the United States.

InBankshares

Market Cap: US$138.0m

Offers a range of banking and mortgage services to individual and business customers in the United States.

FS Bancorp

Market Cap: US$174.0m

Operates as the holding company for Farmers State Bank that provides banking products and services to individuals and business customers in Indiana and Michigan.

QDM International

Market Cap: US$267.9m

Operates as an insurance brokerage company primarily in Hong Kong.

Kish Bancorp

Market Cap: US$122.4m

A diversified financial services company, provides various banking products and services primarily in central Pennsylvania and the surrounding areas.

River Financial

Market Cap: US$268.9m

Operates as the bank holding company for the River Bank & Trust that provides financial services to small to medium-sized businesses, organizations, entrepreneurs, and individuals in the United States.

First Capital Bancshares

Market Cap: US$110.3m

Operates as a holding company for First Capital Bank that provides commercial banking services in the United States.

First National Bank Alaska

Market Cap: US$876.2m

A commercial bank, provides various banking products and services for business, industry, and individual customers primarily in Alaska.

Resolute Holdings Management

Market Cap: US$1.4b

Operates as an alternative asset management platform.

Hamilton Beach Brands Holding

Market Cap: US$187.8m

Designs, markets, and distributes small electric household and specialty housewares appliances in the United States and internationally.

Alpine Banks of Colorado

Market Cap: US$574.7m

Provides banking products and services to individuals and businesses.

Butler National

Market Cap: US$161.7m

Designs, engineers, manufactures, sells, integrates, installs, repairs, modifies, overhauls, services, and distributes a portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems.

Embassy Bancorp

Market Cap: US$132.1m

Operates as the bank holding company for the Embassy Bank for the Lehigh Valley that provides various banking and related financial products and services to individual, business, and government customers in Pennsylvania.

Jiayin Group

Market Cap: US$488.9m

Engages in the provision of online consumer finance services in the People’s Republic of China.

Village Super Market

Market Cap: US$499.3m

Engages in the operation of a chain of supermarkets in the United States.

SR Bancorp

Market Cap: US$121.9m

Operates as the holding company for Somerset Regal Bank that provides retail and commercial banking services to individuals, businesses, and local municipalities in the communities of Essex, Hunterdon, Middlesex, Morris, Somerset, and Union counties in New Jersey.

Tiptree

Market Cap: US$719.0m

Through its subsidiaries, provides specialty insurance products and related services in the United States and Europe.