Global Undiscovered Gems With Strong Fundamentals

Wilson Bank Holding

Market Cap: US$486.6m

Operates as the bank holding company for Wilson Bank and Trust that provides various banking services to individuals, professionals, and small businesses in Tennessee.

FRMO

Market Cap: US$357.0m

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

SHL Consolidated Bhd

Market Cap: RM 523.0m

An investment holding company, engages in the development of integrated commercial and residential properties in Malaysia.

La Forestière Equatoriale

Market Cap: €139.2m

Does not have any significant operations.

Solesence

Market Cap: US$157.0m

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

MIA Teknoloji Anonim Sirketi

Market Cap: ₺19.6b

Provides software development services to public and private organizations in Turkey.

Bosch Fren Sistemleri Sanayi ve Ticaret

Market Cap: ₺19.7b

Bosch Fren Sistemleri Sanayi ve Ticaret A.S.

Maistra d.d

Market Cap: €505.6m

Engages in the hotel business in Croatia.

Vakif Gayrimenkul Yatirim Ortakligi

Market Cap: ₺6.6b

A real estate investment trust.

Sönmez Filament Sentetik Iplik ve Elyaf Sanayi

Market Cap: ₺9.8b

Sönmez Filament Sentetik Iplik ve Elyaf Sanayi A.S.

Ege Endüstri ve Ticaret

Market Cap: ₺28.3b

Develops, manufactures, and sells axle and suspension system components for commercial vehicles and special vehicle applications in Turkey and internationally.

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.

Izmir Firça Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺4.8b

Produces and sells various cleaning materials and painting brushes in Turkey and internationally.

NSIA Banque Société Anonyme

Market Cap: XOF 202.6b

Provides various banking products and services.

Bank of Africa Mali

Market Cap: XOF 73.7b

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 233.7b

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

Procimmo Group

Market Cap: CHF 220.7m

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

Kerevitas Gida Sanayi ve Ticaret

Market Cap: ₺10.7b

Produces and trades in frozen and canned products in Turkey.

Philippine Savings Bank

Market Cap: ₱25.2b

Primarily engages in savings and mortgage banking activities in the Philippines.

Bulbuloglu Vinc Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺3.9b

Manufactures and sells heavy machinery and equipment.

ABG Sundal Collier Holding

Market Cap: NOK 3.5b

Provides investment banking, stock broking, and corporate advisory services in Norway, Sweden, Denmark, and internationally.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺27.7b

Gür-Sel Turizm Tasimacilik ve Servis Ticaret A.S.

East West Banking

Market Cap: ₱23.4b

Operates as a commercial bank that provides a range of financial products and services to individual and corporate clients in the Philippines and internationally.

Hollyland (China) Electronics Technology

Market Cap: CN¥2.1b

Engages in the research and development, production, and sale of circuit protection products in China and internationally.

Pure Cycle

Market Cap: US$239.8m

Provides wholesale water and wastewater services in the United States.

Grenobloise d'Electronique et d'Automatismes Société Anonyme

Market Cap: €101.3m

Designs, develops, manufactures, integrates, installs, and maintains electronic and computerized toll collection systems.

Transcorp Power

Market Cap: ₦2.7t

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

Telematic Interactive Bulgaria EAD

Market Cap: лв281.8m

Offers online betting and gambling services.

Nederman Holding

Market Cap: SEK 6.2b

Operates as an environmental technology company.

Teekay

Market Cap: US$554.7m

Provides crude oil marine transportation and other marine services worldwide.

Standard Bank

Market Cap: MK 2.2t

Provides banking and other related services in Malawi.

FineMark Holdings

Market Cap: US$315.7m

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

Viohalco

Market Cap: €1.4b

Through its subsidiaries, manufactures, and sells aluminium, copper, cables, and steel and steel pipe products.

Wema Bank

Market Cap: ₦256.1b

Provides banking and other financial services to corporate and individual customers in Nigeria.

Linc

Market Cap: SEK 3.8b

A private equity and venture capital firm, specializing in early and mature stage investments in pharmaceutical, life-science and med-tech companies.

Castellana Properties Socimi

Market Cap: €893.4m

As of December 20, 2016, Castellana Properties Socimi, S.A.