Global Undiscovered Gems With Strong Fundamentals

Banque Internationale pour le Commerce et l'Industrie de la Côte d'Ivoire

Market Cap: XOF 252.8b

Banque Internationale pour le Commerce et l'Industrie de la Côte d'Ivoire, S.A.

Beta Glass

Market Cap: ₦291.6b

Manufactures, distributes, and sells glass bottles and containers in Nigeria and internationally.

Penta Teknoloji Urunleri Dagitim Ticaret

Market Cap: ₺6.4b

Penta Teknoloji Urunleri Dagitim Ticaret A.S.

G. Willi-Food International

Market Cap: US$280.4m

Designs, imports, markets, and distributes food products under the Willi-Food and Euro European Dairies brand name worldwide.

Muncy Columbia Financial

Market Cap: US$175.0m

Operates as the bank holding company for Journey Bank that provides banking and financial products and services to individual, business, and government customers in Pennsylvania.

Copperbelt Energy

Market Cap: K42.0b

Engages in the generation, distribution, transmission, sale, and trade of electricity to mining customers in Zambia and the Democratic Republic of Congo (DRC).

Softronic

Market Cap: SEK 1.2b

Provides IT and management services in Sweden.

Natural Grocers by Vitamin Cottage

Market Cap: US$833.2m

Natural Grocers by Vitamin Cottage, Inc., together with its subsidiaries, retails natural and organic groceries, and dietary supplements in the United States.

Five Point Holdings

Market Cap: US$888.7m

Designs, owns, and develops mixed-use planned communities in Orange County, Los Angeles County, and San Francisco County.

ByggPartner Gruppen

Market Cap: SEK 1.3b

Operates as a construction company in Sweden.

Nationwide Building Society

Market Cap: UK£1.2b

Provides retail banking products and services in the United Kingdom.

TrustCo Bank Corp NY

Market Cap: US$738.4m

Operates as the holding company for Trustco Bank that provides personal and business banking services to individuals and businesses.

Administradora de Fondos de Pensiones PlanVital

Market Cap: CL$424.7b

Administradora de Fondos de Pensiones PlanVital S.A.

I.B.I.- Managing & Underwriting

Market Cap: ₪345.6m

Operates as an investment banking company.

Medika d.d

Market Cap: €146.2m

Engages in the wholesale and retail distribution of pharmaceutical products in the Republic of Croatia.

Societe Metallurgique d'Imiter société anonyme

Market Cap: د.م4.2b

Engages in the mining of silver deposits in Morocco.

Andrews Sykes Group

Market Cap: UK£231.3m

An investment holding company, engages in the hire, sale, and installation of environmental control equipment in the United Kingdom, Rest of Europe, the Middle East, Africa, and internationally.

EACO

Market Cap: US$277.1m

Through its subsidiary, Bisco Industries, Inc., distributes and sells electronic components and fasteners in the United States, Asia, Canada, and internationally.

United Bancshares

Market Cap: US$103.0m

Operates as the bank holding company for The Union Bank Company that provides various commercial and consumer banking services.

Holland Colours

Market Cap: €90.3m

Engages in the manufacturing, distribution, and sales of color concentrates in Europe, the Middle East, India, Africa, the United States, Asia, and internationally.

Lubawa

Market Cap: zł1.4b

Manufactures and sells army, police, municipal police, border patrol, fire brigade, and special force products in Poland and internationally.

Boryszew

Market Cap: zł1.1b

Engages in the automotive, metals and chemical industries in Poland and internationally.

Petra Education

Market Cap: د.أ73.0m

Owns and operates the University of Petra in Jordan.

BankFirst Capital

Market Cap: US$242.8m

Operates as the bank holding company for BankFirst Financial Services that provides banking and financial services to individual and corporate customers in Mississippi, and northwest and west Alabama.

Kuyas Yatirim

Market Cap: ₺19.4b

Operates as a real estate development company in Turkey.

Caisse régionale de Crédit Agricole Mutuel d'Ille-et-Vilaine Société coopérative

Market Cap: €636.2m

Provides banking services in France.

A1 Capital Yatirim Menkul Degerler

Market Cap: ₺6.2b

Operates as a brokerage company.

Vassiliko Cement Works

Market Cap: €313.6m

Engages in the production and sale of clinker and cement products in Cyprus and Israel.

Novus Holdings

Market Cap: R2.0b

Engages in the printing production and manufacturing operations in South Africa.

Arla Plast

Market Cap: SEK 1.2b

Through its subsidiaries, manufactures, sells, and distributes extruded plastic sheets in Sweden, Germany, the Czech Republic, Poland, rest of Europe, and internationally.

Lake Shore Bancorp

Market Cap: US$100.8m

Operates as the savings and loan holding company for Lake Shore Savings Bank that provides banking products and services in New York.

Victory Supermarket Chain

Market Cap: ₪680.7m

Operates supermarkets in Israel.

Arad

Market Cap: ₪1.5b

Designs, develops, manufactures, and sells water systems in Israel and internationally.

Lewis Group

Market Cap: R3.6b

Engages in the retail of household furniture, home appliances, electronic goods, and homewares in South Africa, Botswana, Lesotho, Eswatini, and Namibia.

SJF Bank

Market Cap: DKK 5.6b

A savings bank, provides financial products and services to private and corporate customers.

Pera Yatirim Holding Anonim Sirketi

Market Cap: ₺31.4b

PERA Gayrimenkul Yatirim Ortakligi AS is a publicly owned real estate investment trust.