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.

Hui Lyu Ecological Technology GroupsLtd

Market Cap: CN¥10.2b

Hui Lyu Ecological Technology Groups Co.,Ltd.

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.

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.

Transcorp Power

Market Cap: ₦2.4t

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

Itafos

Market Cap: CA$579.7m

Operates as a phosphate and specialty fertilizer company.

Deutsche Balaton

Market Cap: €198.4m

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

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.

Nigerian Aviation Handling

Market Cap: ₦228.0b

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

Senstar Technologies

Market Cap: US$106.1m

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

FineMark Holdings

Market Cap: US$524.4m

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 71.3b

Processes heavy bitumen crude in Africa.

Metalpha Technology Holding

Market Cap: US$133.6m

Provides wealth management services in Hong Kong.

Solesence

Market Cap: US$314.1m

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

FRMO

Market Cap: US$398.0m

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

NSIA Banque Société Anonyme

Market Cap: XOF 244.6b

Provides various banking products and services.

Gulf Island Fabrication

Market Cap: US$115.2m

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

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.

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.

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.

Reitar Logtech Holdings

Market Cap: US$247.3m

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

Rich Sparkle Holdings

Market Cap: US$150.1m

Provides financial printing and corporate services in Hong Kong.

Lampsa Hellenic Hotels

Market Cap: €854.6m

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

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.

Pure Cycle

Market Cap: US$240.7m

Provides wholesale water and wastewater services in the United States.

Vantage

Market Cap: US$136.8m

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

China SXT Pharmaceuticals

Market Cap: US$204.2m

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

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.

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.

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.

Zambia Sugar

Market Cap: K13.2b

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