Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Segmen Kardesler Gida Üretim ve Ambalaj Sanayi Anonim Sirketi

Market Cap: ₺4.3b

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

FRMO

Market Cap: US$396.6m

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

Rich Sparkle Holdings

Market Cap: US$600.0m

Provides financial printing and corporate services in Hong Kong.

ABG Sundal Collier Holding

Market Cap: NOK 3.5b

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

Metalpha Technology Holding

Market Cap: US$126.6m

Provides wealth management services in Hong Kong.

MCH Group

Market Cap: CHF 108.2m

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

Zambia Sugar

Market Cap: K16.5b

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

PINAGO UTAMA

Market Cap: Rp1.9t

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

Nigerian Aviation Handling

Market Cap: ₦204.7b

Provides aircraft and cargo handling, passenger handling, passenger profiling, and crew transportation services in Nigeria.

Birikim Varlik Yonetim Anonim Sirketi

Market Cap: ₺4.4b

Operates as an asset management company.

Linkhome Holdings

Market Cap: US$142.5m

An artificial intelligence-driven property technology company, provides real estate related services in the United States.

Affinity Bancshares

Market Cap: US$123.1m

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

Verusa Holding

Market Cap: ₺34.0b

A private equity and venture capital firm specializing in recapitalizations, growth capital, restructuring, growth equity, growth stage, and Pre-Initial Public Offering companies.

Transnational Corporation of Nigeria

Market Cap: ₦468.5b

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

First National Bank of Botswana

Market Cap: P13.9b

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

Purple Group

Market Cap: R2.4b

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.

Senstar Technologies

Market Cap: US$105.0m

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

ASRock Rack Incorporation

Market Cap: NT$25.7b

Provides cloud computing server hardware products in Taiwan and internationally.

Inmocemento

Market Cap: €1.5b

Inmocemento S.A., through its subsidiaries, engages in the real estate and cement businesses.

Gulf Island Fabrication

Market Cap: US$122.7m

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

SalfaCorp

Market Cap: CL$519.7b

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

Itafos

Market Cap: CA$529.5m

Operates as a phosphate and specialty fertilizer company.

Maistra d.d

Market Cap: €601.9m

Engages in the hotel business in Croatia.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.7b

Develops, manufactures, and sells medicines in Bulgaria.

Elron Ventures

Market Cap: US$112.6m

A venture capital firm specializing in early stage and seed investment.

First Investment Bank AD

Market Cap: лв790.1m

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

Capricorn Group

Market Cap: R11.2b

An investment holding company, engages in the banking, microlending, and related businesses in Namibia, Botswana, and Zambia.

Jadranski naftovod d.d

Market Cap: €806.1m

Engages in the transport and storage of oil and oil products in the Republic of Croatia and internationally.

NSIA Banque Société Anonyme

Market Cap: XOF 252.3b

Provides various banking products and services.

Transcorp Power

Market Cap: ₦2.4t

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

A3 Mercados

Market Cap: AR$587.0b

Engages in futures and options trading in Argentina and internationally.

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.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 307.0b

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

Flügger group

Market Cap: DKK 954.8m

Designs, manufactures, and markets decorative paints, wood protection products, spackling pastes, and wallpaper and tools.

Empresas Lipigas

Market Cap: CL$734.0b

Engages in the distribution and sale of liquefied petroleum gas (LPG) and natural gas (NG) in Chile, Peru, and Colombia.