Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Practic

Market Cap: RON 736.5m

Engages in the lease and sublease of real estate properties in Romania.

Arab Insurance Group (B.S.C.)

Market Cap: US$190.2m

Provides life and non-life reinsurance products and related services in the Afro Asia region.

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

TSTE

Market Cap: ฿4.8b

Primarily engages in the production and distribution of wheat flour in Thailand.

Metalpha Technology Holding

Market Cap: US$141.6m

Provides wealth management services in Hong Kong.

Sociedad Matriz SAAM

Market Cap: CL$1.2t

Through its subsidiaries, provides tugboat services, air cargo logistics, and real estate rentals in South America, Central America, and North America.

Valhi

Market Cap: US$509.6m

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

La Forestière Equatoriale

Market Cap: €118.7m

Does not have any significant operations.

Standard Bank

Market Cap: MK 2.8t

Provides banking and other related services in Malawi.

MAPFRE Middlesea

Market Cap: €128.8m

Provides non-life and life insurance products and services to individuals, small and medium enterprises, professionals, and businesses in Malta.

FRMO

Market Cap: US$389.6m

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

Zona Franca de Iquique

Market Cap: CL$220.7b

Operates premises for wholesale and retail business centers in the duty-free zones of South America.

Pure Cycle

Market Cap: US$242.7m

Provides wholesale water and wastewater services in the United States.

China SXT Pharmaceuticals

Market Cap: US$192.6m

A pharmaceutical company, engages in the research, development, manufacture, marketing, and sale of traditional Chinese medicine pieces (TCMP) in China.

NICO Holdings

Market Cap: MK 902.2b

Engages in general insurance, life assurance, pension administration, banking, corporate finance advisory, asset management, information technology (IT) businesses in in Malawi, Zambia, Uganda, and Mozambique.

NSIA Banque Société Anonyme

Market Cap: XOF 233.7b

Provides various banking products and services.

Chilanga Cement

Market Cap: K6.1b

Engages in the manufacture and sale of cement products in Zambia.

Gulf Island Fabrication

Market Cap: US$117.3m

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

Senstar Technologies

Market Cap: US$109.6m

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

Saudi Azm for Communication and Information Technology

Market Cap: ر.س1.8b

Provides business and digital technology solutions in the Kingdom of Saudi Arabia.

Maistra d.d

Market Cap: €601.9m

Engages in the hotel business in Croatia.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 318.0b

Engages in the manufacture and sale of beer, soft drinks, mineral water, alcomixes, and energy drink products.

Inversiones Doalca SOCIMI

Market Cap: €153.0m

Inversiones Doalca Socimi, S.A., a real estate investment company, leases and rents real estate properties in Spain.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 69.4b

Processes heavy bitumen crude in Africa.

Itafos

Market Cap: CA$572.0m

Operates as a phosphate and specialty fertilizer company.

Acsion

Market Cap: R3.4b

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

First National Bank of Botswana

Market Cap: P13.5b

Provides various banking and related products and services to individuals, businesses, corporates, and private clients in Botswana.

Reitar Logtech Holdings

Market Cap: US$287.2m

Through its subsidiaries, provides construction management and engineering design services.

Solesence

Market Cap: US$248.9m

A science-driven company, develops, manufactures, and sells integrated family of technologies in the United States.

FineMark Holdings

Market Cap: US$536.1m

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

Vantage

Market Cap: US$149.2m

Provides shipbroking services to the oil tanker industry in Singapore and Dubai.

ANSA Merchant Bank

Market Cap: TT$3.3b

Provides a range of banking and financial services in Trinidad and Tobago, and Barbados.

Morris State Bancshares

Market Cap: US$265.7m

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

Darwin

Market Cap: €87.6m

Operates as a biotechnology company.

Capricorn Group

Market Cap: R11.0b

An investment holding company, engages in the banking, microlending, and related businesses in Namibia, Botswana, and Zambia.