Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Inmocemento

Market Cap: €1.6b

Inmocemento S.A., through its subsidiaries, engages in the real estate and cement businesses.

FRMO

Market Cap: US$396.6m

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

ANSA Merchant Bank

Market Cap: TT$3.3b

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

Purple Group

Market Cap: R2.6b

A financial services and technology company, engages in trading platforms, fractional property and crypto asset investing, retirement fund administration, and asset management businesses in South Africa.

PINAGO UTAMA

Market Cap: Rp1.9t

Engages in the oil palm and rubber plantation business in Indonesia.

Transnational Corporation of Nigeria

Market Cap: ₦509.1b

Together with the subsidiaries, engages in the power, oil and gas, and hospitality businesses in Nigeria.

Caisse Regionale de Credit Agricole Mutuel Toulouse 31

Market Cap: €464.1m

Operates as a cooperative bank in France.

SBS Philippines

Market Cap: ₱6.0b

Engages in chemical trading and distribution in the Philippines.

Freetrailer Group

Market Cap: €692.1m

Operates as a trailer rental company in Denmark, Sweden, Germany, and Norway.

Dogan Burda Dergi Yayincilik Ve Pazarlama

Market Cap: ₺8.5b

Dogan Burda Dergi Yayincilik Ve Pazarlama A.S.

va-Q-tec

Market Cap: €395.1m

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

Birikim Varlik Yonetim Anonim Sirketi

Market Cap: ₺5.2b

Operates as an asset management company.

Mill City Ventures III

Market Cap: US$599.4m

A principal investment firm specializing investments in debt and equity securities of public and private companies to fund their operations whether its start-up, acquisition, or growth.

La Forestière Equatoriale

Market Cap: €108.8m

Does not have any significant operations.

Solesence

Market Cap: US$274.9m

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

Arsan Tekstil Ticaret ve Sanayi Anonim Sirketi

Market Cap: ₺4.9b

Engages in the production and sale of cotton and synthetic yarn in Turkey and internationally.

FineMark Holdings

Market Cap: US$503.6m

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

Alantra Partners

Market Cap: €304.6m

Engages in the investment banking and asset management services in Spain and internationally.

Izmir Firça Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺10.2b

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

Pure Cycle

Market Cap: US$243.9m

Provides wholesale water and wastewater services in the United States.

Valhi

Market Cap: US$476.6m

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

ASA Gold and Precious Metals

Market Cap: US$651.7m

A publicly owned investment manager.

First Investment Bank AD

Market Cap: лв796.1m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

Standard Bank

Market Cap: MK 1.0t

Provides banking and other related services in Malawi.

Reitar Logtech Holdings

Market Cap: US$267.9m

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

Grenobloise d'Electronique et d'Automatismes Société Anonyme

Market Cap: €93.4m

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

Evergent Investments

Market Cap: RON 1.5b

A publicly owned investment manager.

Maistra d.d

Market Cap: €563.6m

Engages in the hotel business in Croatia.

Zespól Elektrocieplowni Wroclawskich KOGENERACJA

Market Cap: zł846.3m

Zespól Elektrocieplowni Wroclawskich KOGENERACJA S.A.

Alumil Aluminium Industry

Market Cap: €158.8m

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

Eurofins-Cerep

Market Cap: €88.8m

Provides various drug discovery services to pharmaceutical, biopharmaceutical, and biotechnology companies France and internationally.

First Bancorp

Market Cap: US$289.6m

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

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.

Famous Brands

Market Cap: R5.9b

Through its subsidiaries, operates as a quick service and casual dining restaurant franchisor in the United Kingdom, South Africa, South African Development Community, the Middle East, and Rest of Africa.

First Copper Technology

Market Cap: NT$12.8b

Produces and sells copper and copper alloy strips in Taiwan and internationally.