Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

ABG Sundal Collier Holding

Market Cap: NOK 3.5b

Provides investment banking, stock broking, and corporate advisory services in Norway, Sweden, Denmark, and internationally.

Segmen Kardesler Gida Üretim ve Ambalaj Sanayi Anonim Sirketi

Market Cap: ₺4.3b

Engages in the production and sale of food products in Turkey.

FRMO

Market Cap: US$396.6m

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

Rich Sparkle Holdings

Market Cap: US$600.0m

Provides financial printing and corporate services in Hong Kong.

Sound Financial Bancorp

Market Cap: US$118.6m

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

Li Ming Development Construction

Market Cap: NT$4.3b

Li Ming Development Construction Co., Ltd.

Greenfire Resources

Market Cap: US$333.7m

Engages in the exploration, development, and operation of oil and gas properties in the Athabasca oil sands region of Alberta, Canada.

Standard Bank

Market Cap: MK 1.5t

Provides banking and other related services in Malawi.

Evergent Investments

Market Cap: RON 1.7b

A publicly owned investment manager.

Johnson Chemical Pharmaceutical Works

Market Cap: NT$3.2b

Johnson Chemical Pharmaceutical Works Co., Ltd.

Caisse Regionale de Credit Agricole Mutuel Toulouse 31

Market Cap: €517.1m

Operates as a cooperative bank in France.

Linkhome Holdings

Market Cap: US$142.5m

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

Nigerian Aviation Handling

Market Cap: ₦204.7b

Provides aircraft and cargo handling, passenger handling, passenger profiling, and crew transportation services in Nigeria.

Birikim Varlik Yonetim Anonim Sirketi

Market Cap: ₺4.4b

Operates as an asset management company.

Affinity Bancshares

Market Cap: US$123.1m

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

Deutsche Balaton

Market Cap: €223.5m

A private equity focusing on private equity investments in listed and unlisted companies, real estate investments and investments in other assets.

Sparta

Market Cap: €99.2m

A publicly owned investment manager.

Metalpha Technology Holding

Market Cap: US$126.6m

Provides wealth management services in Hong Kong.

Zambia Sugar

Market Cap: K16.5b

Engages in growing of sugar cane in Zambia, the Democratic Republic of Congo, Kenya, and South Africa.

PINAGO UTAMA

Market Cap: Rp1.9t

Engages in the oil palm and rubber plantation business in Indonesia.

MCH Group

Market Cap: CHF 108.2m

Operates as a live marketing company that provides a network of services in the exhibition and event market worldwide.

Verusa Holding

Market Cap: ₺34.0b

A private equity and venture capital firm specializing in recapitalizations, growth capital, restructuring, growth equity, growth stage, and Pre-Initial Public Offering companies.

Master Drilling Group

Market Cap: R2.4b

An investment holding company, provides specialized drilling services to blue chip major and mid-tier companies in the mining, civil engineering, construction, and hydroelectric power sectors.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺33.3b

Gür-Sel Turizm Tasimacilik ve Servis Ticaret A.S.

Soma Gold

Market Cap: CA$141.9m

A natural resource company, engages in the acquisition, exploration, and development of mineral properties in Columbia.

Colorado

Market Cap: د.م1.6b

Manufactures and distributes various paints in Morocco and internationally.

SUI Group Holdings

Market Cap: US$353.2m

A principal investment firm specializing investments in debt and equity securities of public and private companies to fund their operations whether its start-up, acquisition, or growth.

Valhi

Market Cap: US$477.7m

Engages in the chemicals, component products, and real estate management and development businesses in Europe, North America, the Asia Pacific, and internationally.

First Bancorp

Market Cap: US$306.2m

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

Marmaris Altinyunus Turistik Tesisler

Market Cap: ₺8.1b

Marmaris Altinyunus Turistik Tesisler A.S.

Transnational Corporation of Nigeria

Market Cap: ₦468.5b

Together with the subsidiaries, engages in the power, oil and gas, and hospitality businesses in Nigeria.

TCM Biotech International

Market Cap: NT$7.0b

A biotech company, engages in the research and development of drugs for liver diseases.

Hospital Corporation of China

Market Cap: HK$926.8m

An investment holding company, owns, operates, and manages hospitals in the People’s Republic of China.

Sopharma AD

Market Cap: лв1.4b

Produces, distributes, and exports pharmaceutical products in Europe, Bulgaria, and internationally.

Acsion

Market Cap: R3.1b

Engages in property holding and development activities in South Africa and internationally.