Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Alumil Aluminium Industry

Market Cap: €162.7m

Engages in the design and production of architectural aluminum systems in Greece and internationally.

VNV Global

Market Cap: SEK 2.8b

VNV Global AB (publ) formerly known as Vostok New Ventures Ltd., is a private equity and venture capital firm specializing in growth capital, buyout investments, incubation, seed/startup, early venture, mid venture, late venture.

AB Akola Group

Market Cap: €304.0m

Through its subsidiaries, engages in the production, preparation, and sale of agricultural and food products in Lithuania, Scandinavian, rest of Europe, Africa, Asia, and CIS countries.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.7b

Develops, manufactures, and sells medicines in Bulgaria.

RÁBA Jármuipari Holding Nyrt

Market Cap: Ft43.3b

Manufactures and sells vehicle components in Hungary, Germany, rest of Europe, the United States, Asia, and Australia.

Bank of Africa Mali

Market Cap: XOF 119.4b

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

Tri-County Financial Group

Market Cap: US$115.9m

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.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 474.1b

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

Grendene

Market Cap: R$4.8b

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

Itafos

Market Cap: CA$558.4m

Operates as a phosphate and specialty fertilizer company.

A3 Mercados

Market Cap: AR$784.6b

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

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.

Sparta

Market Cap: €125.6m

A publicly owned investment manager.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 73.3b

Processes heavy bitumen crude in Africa.

Affinity Bancshares

Market Cap: US$127.5m

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

FRoSTA

Market Cap: €614.5m

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

Procimmo Group

Market Cap: CHF 364.9m

A holding company, engages in the investment, management, and sale of real estate properties in Switzerland.

Central Forest Group

Market Cap: JP¥22.7b

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

Inversiones Doalca SOCIMI

Market Cap: €156.6m

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

ANSA Merchant Bank

Market Cap: TT$2.4b

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

Franklin Financial Services

Market Cap: US$253.2m

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.

Metalpha Technology Holding

Market Cap: US$101.9m

Provides wealth management services in Hong Kong.

Union Bankshares

Market Cap: US$110.9m

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

Seneca Foods

Market Cap: US$770.4m

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

Standard Bank

Market Cap: MK 998.4b

Provides banking and other related services in Malawi.

Pure Cycle

Market Cap: US$281.9m

Provides water and wastewater services in the United States.

FRMO

Market Cap: US$321.4m

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

Soma Gold

Market Cap: CA$187.0m

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

First Northern Community Bancorp

Market Cap: US$211.3m

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.

Telekom Networks Malawi

Market Cap: MK 358.5b

Provides telecommunication services to enterprises and individual customers in Malawi.

ASA Gold and Precious Metals

Market Cap: US$1.1b

A publicly owned investment manager.

Lampsa Hellenic Hotels

Market Cap: €999.8m

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

Zambia Sugar

Market Cap: K21.1b

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

First Bancorp

Market Cap: US$317.8m

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

Chilanga Cement

Market Cap: K14.0b

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