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.

Zona Franca de Iquique

Market Cap: CL$206.3b

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

FRMO

Market Cap: US$356.6m

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

Castellana Properties Socimi

Market Cap: €893.4m

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

Pure Cycle

Market Cap: US$249.4m

Provides wholesale water and wastewater services in the United States.

Sociedad Matriz SAAM

Market Cap: CL$1.2t

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

Conoil

Market Cap: ₦229.8b

Conoil Plc markets refined petroleum products, and manufactures and markets lubricants, household, and liquefied petroleum gas (LPG) in Nigeria.

Innovex International

Market Cap: US$1.0b

Designs, manufactures, sells, and rents mission critical engineered products to the oil and natural gas industry worldwide.

Chilanga Cement

Market Cap: K5.6b

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

Sun

Market Cap: MU₨6.2b

Operates in the tourism sector.

First National Bank of Botswana

Market Cap: P13.2b

Provides various banking and related products and services to individuals, businesses, corporates, and private clients in Botswana.

Lampsa Hellenic Hotels

Market Cap: €790.5m

Operates hotels primarily in Greece, Cyprus, and Serbia.

Inversiones Doalca SOCIMI

Market Cap: €154.2m

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

Solesence

Market Cap: US$238.4m

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

Procimmo Group

Market Cap: CHF 225.2m

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

Qudian

Market Cap: US$483.8m

Operates as a consumer-oriented technology company in the People’s Republic of China.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 62.8b

Processes heavy bitumen crude in Africa.

Keir International

Market Cap: ر.س474.0m

Provides a range of service solutions.

FineMark Holdings

Market Cap: US$323.0m

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

Itafos

Market Cap: CA$442.4m

Operates as a phosphate and specialty fertilizer company.

Vivo Energy Mauritius

Market Cap: MU₨11.8b

Vivo Energy Mauritius Limited markets and distributes fuels and lubricants to retail and commercial customers in Mauritius.

NSIA Banque Société Anonyme

Market Cap: XOF 214.1b

Provides various banking products and services.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 246.8b

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

Zambia Sugar

Market Cap: K12.7b

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

Teekay

Market Cap: US$659.1m

Provides crude oil marine transportation and other marine services worldwide.

La Forestière Equatoriale

Market Cap: €137.1m

Does not have any significant operations.

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

Market Cap: ج.م11.4b

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.

Misr Beni Suef CementE

Market Cap: ج.م5.1b

Produces and sells cement products in Egypt and internationally.

Watt's

Market Cap: CL$234.5b

Manufactures and sells food products in Chile.

Standard Bank

Market Cap: MK 2.2t

Provides banking and other related services in Malawi.

Valhi

Market Cap: US$496.6m

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

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Hayleys

Market Cap: LK₨101.8b

Operates in the manufacturing, agriculture, and services sectors worldwide.

Cita Mineral Investindo

Market Cap: Rp16.2t

Engages in bauxite mining activities in Indonesia.

Citra Tubindo

Market Cap: Rp4.2t

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

Bank of Africa Mali

Market Cap: XOF 70.4b

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