Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Viohalco

Market Cap: €1.7b

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

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.

ABG Sundal Collier Holding

Market Cap: NOK 3.6b

Provides investment banking, stock broking, and corporate advisory services in Norway, Sweden, Denmark, and internationally.

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.

Besler Gida Ve Kimya Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺10.0b

Produces and trades in frozen and canned products in Turkey.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 68.6b

Processes heavy bitumen crude in Africa.

Famous Brands

Market Cap: R6.0b

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

Performance Technologies

Market Cap: €90.8m

Provides IT solutions in Greece.

Cyprus Cement

Market Cap: €149.5m

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

FRMO

Market Cap: US$424.8m

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

Decora

Market Cap: zł765.7m

Engages in the production, distribution, sale, and export of flooring products and accessories in Poland.

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.

Senstar Technologies

Market Cap: US$105.0m

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

Grenobloise d'Electronique et d'Automatismes Société Anonyme

Market Cap: €97.7m

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

China SXT Pharmaceuticals

Market Cap: US$196.1m

A pharmaceutical company, engages in the research, development, manufacture, marketing, and sale of traditional Chinese medicine pieces (TCMP) in China.

Dogan Burda Dergi Yayincilik Ve Pazarlama

Market Cap: ₺7.3b

Dogan Burda Dergi Yayincilik Ve Pazarlama A.S.

FineMark Holdings

Market Cap: US$517.2m

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

Solesence

Market Cap: US$288.1m

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

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.

MIA Teknoloji Anonim Sirketi

Market Cap: ₺15.4b

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

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

Market Cap: ₺6.7b

Operates as a guardrail supplier company in Turkey.

Lavipharm

Market Cap: €138.3m

Engages in the research, development, manufacture, import, marketing, sale, and wholesale of pharmaceutical, cosmetics, and healthcare products to physicians and pharmacists in Greece and internationally.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺27.8b

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

Dekpol

Market Cap: zł597.1m

Dekpol S.A. primary engages in the general contracting and property development businesses in Poland.

Transcorp Power

Market Cap: ₦2.4t

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

Transnational Corporation of Nigeria

Market Cap: ₦508.1b

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

Martifer SGPS

Market Cap: €210.2m

Operates in the metallic constructions and renewable energy development sectors in Portugal, Angola, Saudi Arabia, Europe, and internationally.

Deutsche Balaton

Market Cap: €194.2m

A private equity focusing on private equity investments in listed and unlisted companies, real estate investments and investments in other assets.

First Investment Bank AD

Market Cap: лв763.3m

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

MAPFRE Middlesea

Market Cap: €132.5m

Provides non-life and life insurance products and services to individuals, small and medium enterprises, professionals, and businesses in Malta.

Zespól Elektrocieplowni Wroclawskich KOGENERACJA

Market Cap: zł946.2m

Zespól Elektrocieplowni Wroclawskich KOGENERACJA S.A.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 301.2b

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

Zona Franca de Iquique

Market Cap: CL$220.7b

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

MCH Group

Market Cap: CHF 109.1m

Operates as a live marketing company that provides a network of services in the exhibition and event market worldwide.

Alumil Aluminium Industry

Market Cap: €161.7m

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