Global Undiscovered Gems With Strong Fundamentals

Wilson Bank Holding

Market Cap: US$486.6m

Operates as the bank holding company for Wilson Bank and Trust that provides various banking services to individuals, professionals, and small businesses in Tennessee.

Ege Endüstri ve Ticaret

Market Cap: ₺28.5b

Develops, manufactures, and sells axle and suspension system components for commercial vehicles and special vehicle applications in Turkey and internationally.

Vakif Gayrimenkul Yatirim Ortakligi

Market Cap: ₺6.5b

A real estate investment trust.

Transnational Corporation of Nigeria

Market Cap: ₦426.8b

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

Sociedad Matriz SAAM

Market Cap: CL$1.1t

Through its subsidiaries, provides tugboat services, air cargo logistics, and real estate rentals in South America, Central America, and North America.

La Forestière Equatoriale

Market Cap: €139.2m

Does not have any significant operations.

Solesence

Market Cap: US$157.7m

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

Anbio Biotechnology

Market Cap: US$291.4m

Provides in vitro diagnostics (IVD) products in the European Union, the Asia Pacific, North America, South America, Africa, and internationally.

ASA Gold and Precious Metals

Market Cap: US$595.2m

A publicly owned investment manager.

First National Bank of Botswana

Market Cap: P13.1b

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

Meditera Tibbi Malzeme Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺3.9b

Manufactures and sells medical devices in Turkey.

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.

Cashmere Valley Bank

Market Cap: US$220.2m

A state chartered bank, provides banking products and services to small and middle-market businesses, and retail customers.

Sönmez Filament Sentetik Iplik ve Elyaf Sanayi

Market Cap: ₺9.7b

Sönmez Filament Sentetik Iplik ve Elyaf Sanayi A.S.

Teekay

Market Cap: US$543.0m

Provides crude oil marine transportation and other marine services worldwide.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺27.5b

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

Arsan Tekstil Ticaret ve Sanayi Anonim Sirketi

Market Cap: ₺4.0b

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

MIA Teknoloji Anonim Sirketi

Market Cap: ₺17.2b

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

Morris State Bancshares

Market Cap: US$219.8m

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

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

Engages in the development and manufacture of generic and in-licensed medicines in Bulgaria.

Sparta

Market Cap: €88.7m

A publicly owned investment manager.

Omega Flex

Market Cap: US$292.7m

Manufactures and sells flexible metal hoses, fittings, and accessories in the United States, Canada, and internationally.

Conoil

Market Cap: ₦229.8b

Conoil Plc markets refined petroleum products, and manufactures and markets lubricants, household, and liquefied petroleum gas (LPG) in Nigeria.

Reitar Logtech Holdings

Market Cap: US$265.4m

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

Transcorp Power

Market Cap: ₦2.7t

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

FRMO

Market Cap: US$356.6m

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

Itafos

Market Cap: CA$394.6m

Operates as a phosphate and specialty fertilizer company.

Bank of Africa Mali

Market Cap: XOF 73.7b

Provides various banking products and services to individuals, business customers, and SMEs in Mali.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 233.7b

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

NSIA Banque Société Anonyme

Market Cap: XOF 202.6b

Provides various banking products and services.

Oakworth Capital

Market Cap: US$151.7m

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

Kerevitas Gida Sanayi ve Ticaret

Market Cap: ₺10.2b

Produces and trades in frozen and canned products in Turkey.

Castellana Properties Socimi

Market Cap: €893.4m

As of December 20, 2016, Castellana Properties Socimi, S.A.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 65.5b

Processes heavy bitumen crude in Africa.

Pure Cycle

Market Cap: US$246.8m

Provides wholesale water and wastewater services in the United States.

Chilanga Cement

Market Cap: K5.6b

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