Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Acsion

Market Cap: R3.4b

Engages in property holding and development activities in South Africa and internationally.

Izmir Firça Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺10.4b

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

Reitar Logtech Holdings

Market Cap: US$238.5m

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

Segmen Kardesler Gida Üretim ve Ambalaj Sanayi Anonim Sirketi

Market Cap: ₺4.3b

Engages in the production and sale of food products in Turkey.

Itafos

Market Cap: CA$573.9m

Operates as a phosphate and specialty fertilizer company.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 302.9b

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

Vakif Gayrimenkul Yatirim Ortakligi

Market Cap: ₺9.2b

A real estate investment trust.

Caisse Regionale de Credit Agricole Mutuel Toulouse 31

Market Cap: €425.6m

Operates as a cooperative bank in France.

Caisse Régionale de Crédit Agricole Mutuel Brie Picardie Société coopérative

Market Cap: €1.2b

Provides a range of banking and financial products and services to individuals, farmers, professionals, businesses, and public authorities in France.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺27.8b

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

Metalpha Technology Holding

Market Cap: US$126.0m

Provides wealth management services in Hong Kong.

Kirac Galvaniz Telekominikasyon Metal Makine Insaat Elektrik Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺6.7b

Operates as a guardrail supplier company in Turkey.

MIA Teknoloji Anonim Sirketi

Market Cap: ₺15.4b

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

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.

Cyprus Cement

Market Cap: €149.5m

Engages in the manufacturing and sale of cement and related business in Cyprus.

Viohalco

Market Cap: €1.7b

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

Hua Na Hydropower

Market Cap: ₫5.8t

Engages in the electricity generation activities.

Purple Group

Market Cap: R2.3b

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.

Vantage

Market Cap: US$140.3m

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

Arsan Tekstil Ticaret ve Sanayi Anonim Sirketi

Market Cap: ₺4.3b

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

ANSA Merchant Bank

Market Cap: TT$3.3b

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

Evergent Investments

Market Cap: RON 1.3b

A publicly owned investment manager.

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.

Dogan Burda Dergi Yayincilik Ve Pazarlama

Market Cap: ₺7.3b

Dogan Burda Dergi Yayincilik Ve Pazarlama A.S.

Transnational Corporation of Nigeria

Market Cap: ₦508.1b

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

Valhi

Market Cap: US$500.3m

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

Oakworth Capital

Market Cap: US$159.8m

Operates as a bank holding company for Oakworth Capital Bank that provides range of banking services in the United States.

Alumil Aluminium Industry

Market Cap: €161.7m

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

Gulf Island Fabrication

Market Cap: US$113.1m

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

NSIA Banque Société Anonyme

Market Cap: XOF 244.9b

Provides various banking products and services.

Zona Franca de Iquique

Market Cap: CL$222.4b

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

Pure Cycle

Market Cap: US$240.0m

Provides wholesale water and wastewater services in the United States.

Senstar Technologies

Market Cap: US$105.9m

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

Zespól Elektrocieplowni Wroclawskich KOGENERACJA

Market Cap: zł946.2m

Zespól Elektrocieplowni Wroclawskich KOGENERACJA S.A.