Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Smart Organic AD

Market Cap: лв351.6m

Produces and distributes organic food products in Bulgaria, the European Union, Asia, and the Americas.

Metalpha Technology Holding

Market Cap: US$116.1m

Provides wealth management services in Hong Kong.

Bank of Africa Mali

Market Cap: XOF 111.4b

Provides various banking products and services to individuals, business customers, and SMEs in Mali.

Franklin Financial Services

Market Cap: US$241.8m

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.

Central Forest Group

Market Cap: JP¥21.7b

Engages in the wholesale of food, alcoholic beverages, and other related consumer products in Japan.

Pure Cycle

Market Cap: US$285.6m

Provides water and wastewater services in the United States.

FRMO

Market Cap: US$336.8m

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

A3 Mercados

Market Cap: AR$793.1b

Operates as a market for negotiable securities in Argentina and internationally.

Southern Michigan Bancorp

Market Cap: US$110.9m

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.

FRoSTA

Market Cap: €629.5m

Develops, produces, and markets frozen food products in Germany, Poland, Austria, Italy, and Eastern Europe.

Deutsche Balaton

Market Cap: €233.9m

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 460.9b

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

Morris State Bancshares

Market Cap: US$267.3m

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

First Bancorp

Market Cap: US$293.3m

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

Seneca Foods

Market Cap: US$800.6m

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

Itafos

Market Cap: CA$570.0m

Operates as a phosphate and specialty fertilizer company.

Oakworth Capital

Market Cap: US$178.9m

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

Sparta

Market Cap: €125.6m

A publicly owned investment manager.

Envirotainer

Market Cap: €398.1m

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

Chilanga Cement

Market Cap: K12.4b

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

Grendene

Market Cap: R$5.0b

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

Epsilon Energy

Market Cap: US$121.8m

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.

Sound Financial Bancorp

Market Cap: US$112.7m

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

Lampsa Hellenic Hotels

Market Cap: €982.7m

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

Affinity Bancshares

Market Cap: US$124.9m

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

Blume Metal Kimya Anonim Sirketi

Market Cap: ₺8.1b

Operates in the tourism, construction, and energy sectors in Turkey.

Telekom Networks Malawi

Market Cap: MK 363.4b

Provides telecommunication services to enterprises and individual customers in Malawi.

Union Bankshares

Market Cap: US$105.8m

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

Sociedad Eléctrica del Sur Oeste

Market Cap: S/867.8m

Distributes electricity in Peru.

Liburnia Riviera Hoteli d.d

Market Cap: €161.9m

Provides accommodation and hospitality services in Croatia, Germany, Austria, Italy, Hungary, Slovenia, Ukraine, Czech, other European countries, and internationally.

FineMark Holdings

Market Cap: US$468.2m

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

Canal Shipping Agencies

Market Cap: ج.م10.1b

Provides various shipping services to the international commercial fleet in Egypt.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م32.0b

Produces and sells fertilizers.

Suez Canal Company for Technology Settling (S.A.E)

Market Cap: ج.م28.6b

Engages in the establishment and management of technological zones, scientific incubators, and training centers for the preparation of researchers and the transfer of technology, and the provision of related services.