U.S. Undiscovered Gems With Strong Fundamentals

Somerset Trust Holding

Market Cap: US$123.0m

Operates as the bank holding company for Somerset Trust Company that provides banking products and services in Pennsylvania.

QNB

Market Cap: US$130.5m

Operates as the bank holding company for QNB Bank that engages in the provision of commercial and retail banking products, and retail brokerage services.

Transcontinental Realty Investors

Market Cap: US$241.5m

A Dallas-based real estate investment company, holds a diverse portfolio of equity real estate located across the U.S., including office buildings, apartments, shopping centers, and developed and undeveloped land.

AMREP

Market Cap: US$105.4m

Through its subsidiaries, engages in the real estate business in the United States.

Permian Basin Royalty Trust

Market Cap: US$461.9m

An express trust, holds royalty interests in various oil and gas properties in the United States.

NL Industries

Market Cap: US$385.9m

Through its subsidiaries, operates in the component products industry in Europe, North America, the Asia Pacific, and internationally.

FFB Bancorp

Market Cap: US$243.1m

Operates as a bank holding company for FFB Bank that provides various banking products and services for individuals and small and middle-market businesses in the United States.

John Marshall Bancorp

Market Cap: US$234.9m

Operates as the bank holding company for John Marshall Bank that provides banking products and financial services.

Benchmark Bankshares

Market Cap: US$111.3m

Operates as the holding company for Benchmark Community Bank that provides various banking products and services in the United States.

Utah Medical Products

Market Cap: US$183.9m

Develops, manufactures, and distributes medical devices for the healthcare industry worldwide.

Penns Woods Bancorp

Market Cap: US$212.5m

Operates as the bank holding company for Jersey Shore State Bank, which provides commercial and retail banking services to individuals, partnerships, non-profit organizations, and corporations.

Five Point Holdings

Market Cap: US$788.3m

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

Frequency Electronics

Market Cap: US$150.3m

Engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications.

Exchange Bank (Santa Rosa CA)

Market Cap: US$192.0m

Provides commercial and retail banking products and services to individuals and businesses in California.

Daily Journal

Market Cap: US$543.4m

Daily Journal Corporation publishes newspapers and websites covering in California, Arizona, Utah, and Australia.

Natural Grocers by Vitamin Cottage

Market Cap: US$874.1m

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

EACO

Market Cap: US$209.0m

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

National HealthCare

Market Cap: US$1.4b

Engages in the operation of services to skilled nursing facilities, assisted and independent living facilities, homecare and hospice agencies, and health hospitals.

Village Bank and Trust Financial

Market Cap: US$120.1m

Primarily operates as the bank holding company for Village Bank that provides banking and related financial services to small and medium sized businesses, professionals, and individuals in the United States.

Peoples Bancorp of North Carolina

Market Cap: US$149.5m

Operates as the bank holding company for Peoples Bank that provides various banking products and services for individuals and small-to medium-sized businesses in the United States.

Foresight Financial Group

Market Cap: US$115.7m

Provides various banking services to individuals and businesses in the United States.

Muncy Columbia Financial

Market Cap: US$146.6m

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

Truxton

Market Cap: US$212.2m

Through its subsidiaries, provides various banking, investment management, and trust administration services to individuals, businesses, and charitable institutions in the United States.

California First Leasing

Market Cap: US$189.1m

Provides loans and lease financing for universities, businesses, and other commercial or non-profit organizations.

Escalade

Market Cap: US$209.2m

Manufactures, distributes, imports, and sells sporting goods in North America, Europe, and internationally.

McRae Industries

Market Cap: US$114.9m

Manufactures, sells, and distributes boot products for the western/lifestyle and work boot markets.

Mesabi Trust

Market Cap: US$356.9m

A royalty trust, engages in iron ore mining business in the United States.

EVI Industries

Market Cap: US$214.0m

Through its subsidiaries, engages in the distribution, sale, rental, and lease of commercial and industrial laundry and dry-cleaning equipment in the United States, Canada, the Caribbean, and Latin America.

Genie Energy

Market Cap: US$406.5m

Through its subsidiaries, provides energy services in the United States and internationally.

Unit

Market Cap: US$278.0m

Engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States.

Farmers & Merchants Bancorp

Market Cap: US$699.9m

Operates as the bank holding company for Farmers & Merchants Bank of Central California that provides various banking services to businesses and individuals.

G. Willi-Food International

Market Cap: US$202.6m

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

Waterstone Financial

Market Cap: US$234.3m

Operates as a bank holding company for WaterStone Bank SSB that provides various financial services to customers in southeastern Wisconsin, the United States.

GAMCO Investors

Market Cap: US$518.8m

A publicly owned holding investment manager.

Gencor Industries

Market Cap: US$178.2m

Designs, manufactures, and sells heavy machinery used in the production of highway construction materials and environmental control equipment.

Tengjun Biotechnology

Market Cap: US$201.4m

Tengjun Biotechnology Corp., through its subsidiaries, engages in producing, packaging, distributing, and marketing featured dandelion teas and water purifiers in the People’s Republic of China.