Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

SalfaCorp

Market Cap: CL$450.9b

Engages in engineering, construction, and real estate businesses in Chile and internationally.

Itafos

Market Cap: CA$575.8m

Operates as a phosphate and specialty fertilizer company.

GB Holdings

Market Cap: US$54.2m

Provides rubber and chemical products in Zimbabwe.

Pure Cycle

Market Cap: US$245.3m

Provides wholesale water and wastewater services in the United States.

Senstar Technologies

Market Cap: US$100.8m

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

Solesence

Market Cap: US$237.5m

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

FineMark Holdings

Market Cap: US$507.9m

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

Chilanga Cement

Market Cap: K6.0b

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

Affinity Bancshares

Market Cap: US$119.7m

Operates as the holding company for Affinity Bank that provides various banking products and services in Georgia.

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.

ASA Gold and Precious Metals

Market Cap: US$642.4m

A publicly owned investment manager.

ANSA Merchant Bank

Market Cap: TT$3.3b

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

Transnational Corporation of Nigeria

Market Cap: ₦477.6b

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

Zambia Sugar

Market Cap: K13.3b

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

Morris State Bancshares

Market Cap: US$245.1m

Operates as the bank holding company for Morris Bank that provides various financial services to individuals and small businesses in Georgia.

Valhi

Market Cap: US$465.3m

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

First Bancorp

Market Cap: US$293.8m

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 75.6b

Processes heavy bitumen crude in Africa.

La Forestière Equatoriale

Market Cap: €108.8m

Does not have any significant operations.

Mill City Ventures III

Market Cap: US$467.2m

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.

Zona Franca de Iquique

Market Cap: CL$215.9b

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

PINAGO UTAMA

Market Cap: Rp1.9t

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

Sound Financial Bancorp

Market Cap: US$119.6m

Operates as the bank holding company for Sound Community Bank that provides banking and other financial services for consumers and businesses.

FRMO

Market Cap: US$396.2m

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

Transcorp Power

Market Cap: ₦2.1t

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

Practic

Market Cap: RON 736.5m

Engages in the lease and sublease of real estate properties in Romania.

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

Market Cap: ج.م17.6b

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.

NSIA Banque Société Anonyme

Market Cap: XOF 237.5b

Provides various banking products and services.

Standard Bank

Market Cap: MK 1.2t

Provides banking and other related services in Malawi.

First National Bank of Botswana

Market Cap: P13.6b

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

Gulf Island Fabrication

Market Cap: US$108.9m

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

Hermes Transportes Blindados

Market Cap: S/690.1m

Provides money and securities transfer, custody and processing, and document transfer services in Peru.

La Positiva Seguros y Reaseguros

Market Cap: S/417.4m

Provides insurance and reinsurance products and services to individuals and business customers in Peru.

Industrias del Cobre Sociedad Anónima

Market Cap: S/789.0m

Engages in the manufacture and sale of cables and electrical and telecommunication conductors in Peru and internationally.