Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Gulf Insurance Group - Jordan

Market Cap: د.أ91.0m

Engages in the insurance business in Jordan, Middle East, and North Africa region.

Citra Tubindo

Market Cap: Rp6.5t

Provides pipes and accessories, and related services to the oil and gas industries in Indonesia.

Nigerian Aviation Handling

Market Cap: ₦228.0b

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

Oakworth Capital

Market Cap: US$158.3m

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 71.3b

Processes heavy bitumen crude in Africa.

FRMO

Market Cap: US$398.0m

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

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.

va-Q-tec

Market Cap: €401.0m

Develops, produces, and markets vacuum insulation panels and phase change materials in Germany, rest of European Union, and internationally.

Senstar Technologies

Market Cap: US$106.1m

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

Transcorp Power

Market Cap: ₦2.4t

Engages in the generation and sale of electric power in Nigeria and internationally.

Hui Lyu Ecological Technology GroupsLtd

Market Cap: CN¥10.2b

Hui Lyu Ecological Technology Groups Co.,Ltd.

NSIA Banque Société Anonyme

Market Cap: XOF 244.6b

Provides various banking products and services.

Lampsa Hellenic Hotels

Market Cap: €854.6m

Operates and manages hotels in Greece, Cyprus, and Serbia.

Valhi

Market Cap: US$496.3m

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 301.2b

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

Eurofins-Cerep

Market Cap: €89.8m

Provides various drug discovery services to pharmaceutical, biopharmaceutical, and biotechnology companies France and internationally.

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.

First Investment Bank AD

Market Cap: лв766.3m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

La Forestière Equatoriale

Market Cap: €108.8m

Does not have any significant operations.

ANSA Merchant Bank

Market Cap: TT$3.3b

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

Zona Franca de Iquique

Market Cap: CL$220.6b

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

Reitar Logtech Holdings

Market Cap: US$247.3m

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

Potasios de Chile

Market Cap: CL$536.2b

Engages in investment in shares and other financial instruments in Chile.

Grendene

Market Cap: R$4.6b

Engages in the development, production, distribution, and sale of footwear for women, men, and children in Brazil and internationally.

Zambia Sugar

Market Cap: K13.2b

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

NICO Holdings

Market Cap: MK 1.0t

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.

Jadranski naftovod d.d

Market Cap: €811.2m

Engages in the transport and storage of oil and oil products in the Republic of Croatia and internationally.

Chilanga Cement

Market Cap: K6.1b

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

Darwin

Market Cap: €87.6m

Operates as a biotechnology company.

Industrias del Cobre Sociedad Anónima

Market Cap: S/789.0m

Engages in the manufacture and sale of cables and electrical and telecommunication conductors in Peru and internationally.

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

Compañía Electro Metalúrgica

Market Cap: CL$328.9b

Operates as producers and vendors of integrated solutions for the mining market in Chile and internationally.

Sociedad Matriz SAAM

Market Cap: CL$1.1t

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

Transnational Corporation of Nigeria

Market Cap: ₦503.0b

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

Practic

Market Cap: RON 736.5m

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